The date ataows when tMd'VOlttmewas taken. To reaew this book eopy thecal! No. aud give-tQi , the Itbrar itw. J ■ * l^i USE RULES. All Books subject to Recall. Sooks n^ in use for 'tilistouctiotttbr research" are fenumitble: within 4't^eeks. Volumes of periodi- cals and of pamphlets are held in the library as m^ch as possible. For special purposes they are given out for a limited time. Borrowers should not use their library privileges for the bene- fit of other persons. Students must^ re- turn all books before leaving town. Officers should arrange for the return of books wanted diiring their absence from town. Books needed by • more than one person \are held on the resrarve list. Books of special valxie and ^ft books, whM the giver wishes it, are not allowed to circulate. Readers are asked to report all cases' of books marked or muti- lated. Do not deface books 6y marks and 9r''l*'"E- Booteping for FaFmers A TREATISE ON FARM ACCOUNTS BY T. CLARK ATKESON, PH.D., LL.B. PROFESSOR OF AGRICULTURE AT WEST VIRGINIA UNIVERSITY, AND PRESIDENT WEST VIRGINIA >. STATE BOARD OF AGRICULTURE. '4 TO WHICH IS ADDED The Stqckbridge System Accounts EDITED BY HERBERT MYRICK NEW YORK OEANGE JUDD COMPANY 1911 Cornell University Library The original of tliis book is in tine Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://www.archive.org/details/cu31924031289709 Bookkeeping for Farmers A TREATISE OK FARM ACCOUNTS BY T. CLARK ATKBSOIST PH. 1)., t. t,'/ B. PBOFBSSOK OF AGBICnLTURB AT WEST VIEGOfIA ■VWIV'ER^I^Y, AN! PRESIDENT WEST VIBGINIA STATE BOABD OF AGEJOUl^TUBB. TO WHICH IS ADDED The Stockbridge System Accounts, Edited by hbebbrt MYRICS. NEW YORK OEANGE JUDD COMPANY 1911 COPYEiaHT, 1893, bt orange jtjdd company. Printed in U. S. A. Preface. Many books have been written on the subject of business education and bookkeeping, but we have looked in vain for a treatise on the keeping of farm accounts, which is at once comprehensive, and yet so stripped of unnecessary complications that the average farmer may practice what it teaches. We have examined numerous text books on the subject and many blank-iooJcs, arranged for the purpose of keeping farm accounts, but all of them seem more complicated than is necessary for the use of the great majority of everyday farmers. Our object in the preparation of this little book is to remove from the subject of farm accounts, as far as possible, every thing which might tend to confuse the practical farmer, and so simplify the whole matter that those who read this book will find pleasure in recording their farm operations. If we succeed in this, our work will not have been without results. editor's kotb. To Prof. Atkeson's outline is added, in part II., a description of a somewhat different, but very simple and practical method. The two are sufficient to enable any person, though ignorant of the profession of bookkeep- ing, to begin and maintaiil a simple system of accounts that will enable them to know just how the business of the whole farm, or any part of it, stands. The Stock- bridge system is further desirable as having stood the test of actual experience on a large number of farms of various kinds. PART I. INTEODUCTIOlSr. In recent years there has been much written on the importance of farmers keeping account of all their operations. Emerson and Mint in their excellent little work, "The Manual of Agriculture," say: "The keeping of accurate accounts is indispensable to complete success in farming; without them the farmer can never see just where he stands, or whether he is making or losing money by this or that course of culture. It is well to keep a separate debit and credit account for each lot, charging it with all that is expended upon it from time to time in labor, manure and seed, and crediting it with the crops produced. At the end of the year the balance will show at a glance the gain or los^ for the season." .Mr. M. J. Lawrence, editor of the Ohio Farmer says in the introduction to his blank book for Farmers' accounts, the farmer should keep accounts "as a matter of economy, satisfaction and protection in case of sudden death. It also has a tendency to induce thought, whereby the standard of agriculture is advanced. It assists the farmer to be quick and accurate in figures and increases his knowledge of doing business. It gives him positive knowledge, and gives his opinions preference over those who guess at conclusions. It is the only way 5 6 PABU ACCOUNTS. that a farmer can understand his own business, and it is the only way in which farming can be made profitable, systematic and dignified." Prof. D. "W. Sprague, of Minnesota university, in a paper read before the State Farmers' Institute seems to have grasped more fully the importance of a simplified system of keeping farm accounts than any one we happen to have read. We shall, therefore, make considerable use of what he has written. "A majority of the farmers who pretend to keep accounts do so in such an unbusinesslike and slipshod manner that no practical benefit is derived from them. The farmer who cannot tell at the close of the year whether his management has resulted in a profit or a loss must be ignorant of his financial standing. It ic just as essential for the farmer to keep a record of his business transactions as it is for the merchant and the banker. In an age when there is such strong competition as there is now in every department of human effort, guesswork cannot be depended upon to insure success. The more thorough one's knowledge of the subject in question, the more comprehensive his view of the whole field of commercial and business relations, thus enabling the individual to take advantage of every circumstance, the greater .will be his success. "The average farmer can not afford to keep a bookkeeper ; he must be his own accountant. The plan outlined here will be so simple that any person having a fair knowledge of Arithmetic, and who can write a legible hand, can keep the farm records so that he will know what it has cost him to raise a given crop, and which crop, or line of farming, is paying him the best. In nearly every farmer's family some member may be found who would be delighted to undertake the 'keeping' of these records — ^itmay be a son, a daughter, or perhaps the wife, if the farmer is not in a situation to INTEODUCTIOK. keep them himself." The full force of this will be recognized hy every farmer who has ever attempted to keep accounts. CHAPTER L A farm may be secured either by lease or purchase, as circumstances may necessitate. In either case a careful diagram should be made, locating and numbering each lot or field. Procure a suitable book, substantially bound, and copy the map of your farm onto the first page, for reference. INVENTOKT, JAUUABT 1, 1892. Assets. 100 acres of land with improvements, $50 per acre. . . 2 horses ; Scott, $100, Prince, $125 S6,000.0C 226.00 220.00 95.00 loo.oo 105.00 30.00 160.00 3.60 360.00 200.00 lOO.OO 300.00 200.00 26.00 60.00 2 mares : Elsie, $125, Dove, $95 1 Hereford bull," Savage, $100 ',.". 2 sows and 11 ni&rs 12 hens Liabilities. $1,000.00 200.00 600.00 DueL. A. Caxi&Co. onacct 160.00 $7,153.6( 1,850.00 $1,860.00 Net worth $5,303.6( An inyentory should be made as aboTe. This is a list of all property owned, with the value attached, such as land, stock, machinery, tools, hay, grain, house- hold goods, notes, cash, accounts against other parties, and any other property. "The amounts should be car- 8 FARM ACCOUNTS. ried to the dollars and cents column. The sum of these will constitute the Assets. Eight below this put down in the same way, your debts — amount you are owing on mortgage, on notes, and on account. These are called Liabilities. The difference between one's assets and liabilities is what he is worth. Make out a new inventory each year. By comparing these inventories year by year one can tell whether his property is increasing or whether he is running behindhand. In making out these inven- tories don't put the property in at too high a figure, but for what it would sell at in market. Leave fifteen or twenty pages in the first part of the book for inventories." CHAPTER IL The Mbmokandum. Prof. Sprague says of the memorandum : " Procure a pocket memorandum about four and one-half by seven inches, ruled in Day Book form, also a small calendar printed on a single leaf that may be pasted on the inside cover of your memorandum. It should be carried in the inside breast pocket, where it is always convenient for reference and easily got at if a record is to be made. This book is preferable to a Diary in which the spaces given to the several days are the same throughout the book. In, the memorandum one can give more or less space to the record of his day's operations as the circum- stances require. This memorandum should contain a record of all of one's business and financial operations — such as the pay- ing or receipting of money. Contracts made with one's hired help, agreements to do work, to furnish material, the number of day's work of men and teams in putting THE MEMORAN-DUM. d in, caring for and harvesting crops, etc. These items will become the basis of the *Faem Accounts.' In addition to the purely business purposes of the book it furnishes a conrenient and always accessible place for the record of a vast amount of incidental matter of daily occurrence — such as the seeding and harvesting of the several crops, anything unusual in regard to the weather, the date at which an animal is bred, a calf or colt drop- ped, the first appearance of the birds in Spring, visits made or received, sickness, deaths, or other items. Kept for a number of years, these memoranda will enable the farmer to compare one year with another in regard to the time of seeding, maturing and harvesting of crops, their yield, the state of the markets, etc. A book kept in this way will enable a man to abandon the realm of guesswork for the domain of fact, and the men who keep such records will be of invaluable assistance to the communities in which they live." While we recognize all the benefits to be derived from keeping a daily memorandum, there are many things which interfere vi^ith the average farmer in prac- ticing it. Firstly, in the summer season, especially if he labors himself, and most farmers do, he will not have his coat on or have his memorandum book in reach when he wants it. Secondly, it ii'doessitates an additional amount of writing, which is distasteful to most farmers; and while a carefully kept memorandum has all the advan- tages claimed for it by Prof. Sprague, we hope to make it possible for a farmer to keep all necessary accounts, in as few books and with as little writing as possible. But for the benefit of those who may wish to keep a memo- randum we give an example of form and what it should contain on the following page. 10 TAEM ACCOUNTS. 1892 MEMOKAOTJUM. Jan. 1 •* 10 Feb. 6 " 'M May 2 6 *' 'M June 20 " 22 Jnly 1 '• Wl Aug. 27 Nov. 1(1 Deo. 6 Two men hauling hay to W. Jones. J. W. Harris commenced worlt at 75 cts. per day. Filled ice house. Finished hauling manure on lot No. 1, 10 days for men and team. ■ . Man and team 10 days plowing corn land. 2 d^ys man and team harrowing corn ground. 2 days planting corn, man and team. Cultivating corn 10 days. Commenced harvesting. Commenced cutting timothy. Paid J. Swindler for threshing 500 hu. wheat $20. Sold 6 head two year old cattle at $20— $120. Sold F. C. Brown 600 hu. corn at 40 cts. per hu. Sold B. Bare 20 fat hogs at i cts. per lb., weight 4,000, $160. We might extend this list indefinitely, but it is unneces- sary. The importance of the memorandum can hardly be overestimated. Ordinarily the transactions on the farm in any one day are so few, that if the farmer will make a habit of it, he will be able to recollect every transaction of the day when he sits down after supper to write up his books for the day, and we would have him cultivate the habit of doing that every night. CHAPTER m. Time Book. For all practical purposes we have found it necessary to keep but two books, a time book and a general account book, although it is advisable to keep a separate book for cash accounts. One of the nice points in farm management is to always get along smoothly with hired help. Frequently the men employed on the farm are illiterate, and keep no accounts themselves, and, when considerable time is allowed to elapse between settle- ments, dissatisfaction is liable to occur and disputes arise. We find it works admirably to give our hired help a written statement of account at the end of every month. It avoids any disputes about settlement, and the man or TIME book:. 11 his family will be able to recollect his few transactions for a month, besides, it conTinces him of your honesty, and enables him to know his financial condition at all times, and is a strong inducement for him to keep within his income. On the following page we giye an approTed form of Time Book. It will h'j seen that a booK ruled as indicated, by simply marking the Sundays with the letter S, the dates at the top of the pages, will be correct for each succeed- ing month for which that page may be used, and when only' one or two men are employed, it will answer the purpose just as well as if enough men were employed to fill the whole page. In this way the same time book may be used for many years. Of course the name of the month and the S will hare to be filled in as needed. n PARM ACCOUNTS. •eram saSv^ I tSiS^. S I r^'"^ ^ I tccca! I rHfHiH I ajtcoo I -H- a I 00 I »H1-1^ n I cficcas ■ ".Sf ' CHAPTER IV. Faem Accottnts. John Groesbeck, in his Practical Bookkeeping says : "Bookkeeping is the art of recording and classifying business transactions in such a manner that any required information concerning them may be readily ascertained. This information will vary according to the nature and extent of the business transacted." It is frequently the case that no eyidence of important business transactions can be produced except the records made of the transac- tion at the time. " The law has laid down certain rules in regard to them which should be universally known, as from some defect of entry, debts are frequently lost which might have been saved had they been recorded in a proper manner." "A book of original entry is evidence of the sale and delivery of goods and of work done. The book, however, may be set aside on sufficient proof of incor- rectness. It must be proved by the affidavit of the person who made the entries ; or if such person be dead or cannot be reached, proof of death or absence and of the handwriting is sufficient. To be accepted as evi- dence, it must appear : 1. That the book is a book of original entry; 3. That the entries were made at the time of their dates, and 3. That such entries were made at or near the time of the doing of the work or the deliv- ery of the goods." "If the entry is taken from another book it is not evidence. In general, no copy or transcript is taken as evidence. Dating eatries at a different time from which 13 14 FARM ACCOUNTS. the transaction took place or making entries sometime after the transaction, gives rise to a presumption of uncertain memory, or of a dishonest intention. "The time for making the entry is when the goods are delivered. If it can be shown that the contract of sale was not completed at the time the entries were made, the book is not competent evidence. Entries are not evidence that are without date, or which do not mention the name of the debtor. Items and prices must be specified, as a general charge cannot be supported by this kind of evidence. It is improper to make erasures or interlineations ; they allow a suspicion of concealing or altering something for a fraudulent purpose." All transactions, whether cash or otherwise, with any person who has an unsettled account should be entered, that there may be a full record of all his dealings, which will facilitate settlements with him. All entries should be made in a proper book, with ink, but not necessarily, as any original entry made at the time of the transaction is evidence of that transaction. Slowly, but surely, it is being forced upon the minds of the farmers that business principles are not out of place in the management of a well-conducted farm. On this point T. B. Terry says: "More business ability required for special farming ? Yes. But that is what the farmer of the future wants. He must learn what his farm and himself are best fitted for. and then do it. He must find where his products are wanted, and send them there. He must find where he can buy to the best advantage, at wholesale, what he wants, and again skip over the middleman. Then he will become more like other business men. Then he will make more money. The special farmer can, in many ways, reduce the cost of production, thus increasing his profits. Let me illus- trate briefly in the line of my specialty. I ride while the machine plants potatoes, an acre in two hours. I hoe THE ACCOUNT IN DETAIL. 15 by horse power, at the rate of fourteen to twenty acres a day, with one man's labor. I dig thoroughly well while riding another machine, drawn by four horses, which does the work of fifteen men with forks. I use bushel boxes in handling the crop, and thus greatly reduce the labor bill. Kow, what possible chance has the common farmer, raising an acre or two in the old way, to com- pete with me ? He must grow poorer and poorer, while I make money right along, about one hundred per cent, net, one year with another. He is behind the times. I am simply running my farm on business principles. I can get better prices because I can furnish large lots that run uniform, and have enough that I can afiord to hunt up the best market." CHAPTER V. The Account In Detail. But one book is really necessary for farm accounts, and that may be obtained at village stores, at a trifling expense, and may be used until entirely filled, even if it should require years to fiU it. All manner of accounts may be kept in it, as will be seen from the following specimen sheets.' The pages should be regularly num- bered, and when an account is carried forward the number of the page from which it is brought should be written at the top of the new page, and the number of the page to which it is carried should be written at the bottom of the page from which it is taken. Accounts may be kept in this way with any number of farm hands, allotting a few pages to each, and carrying the accounts forward, as necessity may demand. 16 FABM ACCOUNTS. FABu Accotmra. W. A. Craig. Dr. Or. June July To one bushel meal " 10 lbs. bacon @ 8 " sackflouT " order to F. J. C. Renner. " 13 lbs. bacon @ 8 " 1 bu. potatoes " Ibu. meal " cash By 23 days work @ 75 $123s By balance ■ To cash " 15 lbs. bacon " Ibu. meal " sack flour " cash " Ibu. potatoes " cash " order to L. A. Carr & Co.. " cash By 20 days work @ $1.00 SO.B0I .81 .76 3.01 1.0« 1.04 .60 .50 4.O0 4.00 1.20 .50 .75 2.O0 .60 6.00 3.00 2.0C $19.0£ $16.25 $16.25 12.19 $4.0S $21.06 19.05 5.01 More disputes have arisen between farmers and mer- chants, which could have been settled amicably had the farmer kept his own account. To avoid these disputes, and for his own satisfaction, the farmer will find it con- venient to keep his accounts in this manner : Account with Mekchant. 1892. F. J. C. Kenner. Dr. a-. May 1 3 6 10 (( 15 16 (( 20 <( 25 27 (c 1 6 9 17 30 Brought forward ,. $6.0( 20.00 5.00 $26.00 .70 By 10 vds. calico @7 To 20 ibs. butter @ 25 By 1 pair ladies' shoes 3 00 " " men's boots 4.00 To cash By order W. A. Craig «. " " J.Harris 3.00 2.00 .75 " child's hat To 20 lbs. butter @ 25 By lax, 90, 1 hatchet, 75 1.65 3.00 1.25 •( " 50 lbs. sugar " Slbs.ooffee By balance To cash By 1 plow " binder twine., To cash Paid in full $30.00 $44.36 30.00 June (( M « $10.00 16.35 $14.35 7.00 5.00 $26,351 l$26.35 THE ACCOUNT IN DETAIL. 17 It will readily be seen that this manner of keeping accounts may be extended to any number of persons and to all manner of business, and every transaction recorded on the same page at the time it occurred. All such accounts should be balanced at the end of the month, and begin the account of the next month with the bal- ance on the side it may appear. In this way, a glance at the beginning of the account for the current month will always show how the account stood at the end of the preceding month. Account With Grain Cbop. When but a single grain crop is raised, but one account need be opened for any one year. But when more than one crop is raised, a different account should be opened for each crop. The same book and formula will be needed in each case, and the separate accounts need only be opened on separate pages, and carried from page to page, as may be necessary, just as with the accounts of indiTiduals. The following will indicate the account with wheat: Wheat, 1892. Dr. Or. 1892 Oct. 1 tc 10 •* 15 1893 June 2fi Aug. 20 ti (1 ft (i tf Sept. 1. To man and team 20 days plowing 30 acres land, 9 days preparing land 40 bu. seed wheat® $1.00 4 days drilling. 6 men and team 3 days cutting.. Threshing 450 hu. wheat 15 men threshing 1 day Hauling wheat to barn Hauling wheat to market Sold 400 bu. wheat 50 bushels for seed Totals Profits.. $40.00 18.00 40.00 8.O0 21.00 18.00 20.00 20.00 5.O0 $190.00 $400.00 50.00 §450.00 190.00 $260.00 The remainder in the credit column shows the amount of profit on the wheat crop for the year 1893. The account with com, oats, rye, hay, fruit, dairy, poul- try and eTery kind of stock may be kept in exactly the 18 FARM ACCOUNTS. same way. Different accounts may be kept with each separate field of wheat, or other grain, and with differ- ent parts of the same field when experiments are made with several varieties of seed or fertilizer, being careful to charge the crop with everything expended upon it. In this way it will be easy to determine the different results in dollars and cents of every operation and experiment on the farm. In this way the cost per bushel may be ascertained. For instance, the cost of producing four hundred and fifty bushels of wheat, in the example given, was one hundred and ninety dollars, which, divided by four hun- dred and fifty, the number of bushels, gives forty-two and four-ninths cents as the cost per bushel. The profit is what we get for the interest on our investment in land, teams and machinery. In estimating the cost of man and team labor, it should be put at actual cost, which will vary considerably in different localities, and will have to be estimated by each individual farmer for himself. CHAPTER VI. PUECHASES AND SALBS. There is another class of accounts usually kept in separate places, which we have found convenient to keep together in the same book as the other accounts, and run them together as the transactions occur, on the same page, but in separate columns : PUKCHASB AND SAI,B ACCOXTNT. 1892 Jail. 2 10 30 6 15 1 1 1 10 Bought 100 bii. coal of R.E.Blake I>r. j7.oe 100.0« 15.00 75.00 135.0t Cr. Sold 4 hogs, 800 lbs. @ 3c to B. Bare $24.00 7.50 •1 " R. £. Blake 1,500 hay @ 60c Feb. 11 Sold 3 fat cattle to B. Bare 108 35 May Bought of I.. Craig 2 year old mare "Dove" " McCormlck Binder Sept. Sold 400 bu. wheat 400 00 $332.00 {939.85 332.00 ||607.85 This account may be extended indefinitely, and need not be footed up but once a year; and, in fact, need not be balanced at all, as this account is kept more as a memorandum of sales and purchases, as they may occur from day to day in the ordinary transactions on the farm. Another important account is that of Notes Pay- able and Notes Eeceivable, which may be kept in the same way, and when paid an X may be made over the face of the amount. The following brief account will in- dicate what we mean. 19 CHAPTER VII. Notes Payable and Eecbitable and Cash. 1892 Dr. Cr. Jan. 1 Apr. 1 .1 18 May 11 (1 >• r. Amount. Apr. 1 3 4 6 7 $1.85 1 00 " liired boy i( .80 11 ** 50 lbs. clover seed at 12o 6 00 it 14.00 fotal $23.00 It would be well to add up the account Saturday night, and commence a new page for each week's account. The credit can be kept in mach the same simple way : 1892 Or. Amount. pr. 1 .3 (1 4( (( 4 (• 7 By 5 bu. potatoes ■ 20 lbs. butter at30e 6 doz. eggs at 25c (4 doz. sold, 2 kept for family use) horee let to Jones 20 lbs. poultry at 20o Total $5.00 6.00 1.60 1.00 4.00 $17.50 9. When things are bought and sold on credit a separate memorandum of them must be made, or care must be taken that they do not occur twice in the account. Thus in the debtor account aboTe, if the item of $1.85 for blacksmith repairs was not paid that day, it ought not to be entered in this account until it is paid. In the credit account above, if Jones did not pay the chai"ge of $1 for the horse he hired that day, do not enter it until he does pay. You can keep an account with him in another place, and when he settles you can enter the item on the account; thus, "April 30, by work, etc., for Jones, $16.35." In this way the account will be Tery simple, and can be kept with little diflBculty. CHAPTER III. Akswbes to Possible Queeibs. In addition to the foregoing rales, it should be noted that in the inventory at the beginning of the second year, and also in the inventory at the close of the same year, the bills receivable and the bills payable, on account of the farm, should be entered, but that the family bills should not be included. Although the debit and credit items may be kept on the same page, error and confusion may be avoided by keeping these items on separate pages. The farmer may charfre for his personal services by the month, and credit tho icii'M xsr the days or hours of work given to other business. A day's work on a farm will average about ten hours the year through. Over- work in summer is largely compensated for by hours of leisure in winter. The dwelling house and surroundings may be included in the inventory, if the faun be credited with sufficient rent to pay the interest, taxes and repairs on dwelling and grounds. If a pasture, or other land, is not included in the inventory, its receipts should not appear in the farm account. The farm should pay for all labor on the woodlot, and be credited with all the wood, whether sold or used in the house, at a fair price, according to quality. When two partners manage a farm on shares, but only one keeps an account, half the total inventory should be used, and the farm credited with what the latter part- ner takes from it, and charged for all he buys for it. When a farmer buys stock and butchers, such work may be included in the farm account, giving the farm 30 ANSWERS TO POSSIBLE QUERIES. 31 credit for the profits and charging the farm for the time employed. The farm should be given credit for all the garden truck, at its fair market value, vyhether used in the family or sold. The farm must, of course, pay for all the labor put on the garden. By carefuUy estimat- ing the value of the vegetables used, one entry a week will suffice. The dairying utensils, such as pans and churn, should be included in the farm inventory. The farm should be charged for the labor when the fai'mer is cut- ting wood for the house, and credited with the wood at its market value. The idea is that the farm shall receive credit for everything from it used in the house, just as though these things were sold. Produce sold to a merchant to be taken out in trade, may be entered as cash. Items need not be entered separately. If accu- rately kept on a slate or memorandum, regular transac- tions of butter, vegetables, milk, eggs, labor and other things may be added together, and entered on the book once a week. Large items, as sales of grain, cattle or pork, and purchases of fertilizers or tools should be entered separately. APPENDIX. BtraiN'BSS Laws op Interest to Paemebs. Notes bear interest only when so stated. If a note is lost or stolen it does not release the maker. Principals are responsible for the acts of their agents. Ignorance of the law excuses no one. The law compels no one to do impossibilities. An agreement without consideration is Toid. In some States, contracts made on Sunday cannot be enforced, but in West Virginia and some other states, they are valid. A note obtained by fraud from an insane or intoxi- cated person cannot be collected. Contracts made with a minor or lunatic are void or voidable. Signatures made with a lead pencil are good in law, but should be written with ink. A receipt for money is not always conclusive. The acts of one partner bind all the others. Each partner is responsible for all debts of the firm, except in cases of special partnership. 33 BUSINESS LAWS. 33 "Value receiyed " should be written in a note ; but if not written, is presumed by law. Checks and drafts should be presented for payment within a reasonable time and during business hours. If time of payment of a note is not named, it is pay- able on demand. The time of payment of a note must not depend upon a contingency. The promise must be absolute. A note may be written upon any kind of paper, either with ink or lead pencil. The payee should be named in the note, unless it is payable to bearer. An indorser has a right of action against all whose names were on the note when he received it. K two or more persons, as partners, are jointly liable on a note, due notice to one of them is sufBcient. If a note is transferred as security, or even as pay- ment of a pre-existing debt, the debt revives if the note is dishonored. An indorsement may be written on the face or back ^usually on the back. An indorser may prevent his own liability to be sued by writing, "without recourse," or similar words. An oral agreement must be proved by evidence. A written agreement proves itself. The law prefers writ- ten to oral evidence because of its precision. Written instruments are to be construed and inter- preted by the law according to th*e simple, customary and natural meaning of the words. An agent is a person who is employed by another to represent him in the performance of certain acts. Authority may be given to an ageub, either verbally or in writing. If in writing, it is termed a power of attorney. A power of attorney intended to cover much time should be acknowledged and recorded. 34 FAKM ACCOUKTS. ' • V An oral bargain for a farm is not binding in law upon either party. • , ■>, ' " ' An offer to sell a farm for a given price is not bind- ing until accepted by the buyer. ■ When a man makies an offer to sell another a farm bj letter, the bargain is completely closed" the moment the other deposits his letter of acceptance in the postoffice. All deeds should be signed, sealed, acknowledged and recorded forthwith. The number of acres or length of boundary lines stated in a deed, have but little weight compared with the visible monuments, such as trees, rocks, etc., described as comers of the farm. , If a boundary line runs to a tree, rock or stump, it goes to the center of the object ; if it runs by a wall or fence, it passes aloii^ the middle of it and not along the side of it. If the farm is bounded by a'bropk, river or stream, it extends to the middle of the current and .nqt the middle of the water. > . . ' A deed to a farm conveys all the buildiiigs, fenc^ growing crop^ and manure upon it at the timej whether inentioned in the deed or not. , If a farm ip bounded by a rpad, it extends to the middle of the roadway. . One farmer may acqnire the right of way over the land of another by purchase, by long continued use or by actual necessity. . ' ' It is always safest and best to avoid suits at law, and!, in many cases the whole amount in dispute had better be lost than to go to law to recover it. A bad compromise is, better than a harassing lawsuit. ' _ ' ~ Legal Rates of Interest.— Five per cent., Lbii-^ isiana.^ Six per cent., Arkansas, Canada, Connecticut,' Delaware, District of Columbia;, Illinois,*lo'wa, Indiana, Kentucky, Maine, ■ Maryland, Massachusetts, Michigan,' BUSINESS LAWS. * 35 Mississippi, Missouri, New Brunswick, New Hampshire, New Mexico, New York, Nortli Carolina, Ohio, Pennsyl- vania, Ehode Island, Tennessee, Vermont, Virginia, West Virginia ; seren percent., Dakota, Georgia, Kansas, Minnesota, South Carolina, Wisconsin ; eight per cent., Alabama, Florida, Texas ; ten per cent., Arizona, Cali- fornia, Colorado, Idaho, Montana, Nebrask- Nevada, Utah, Washington and Wyoming. Otheb Hints. In making out a note, bank check or any other legal paper, be sure to draw an ink line through all blank spaces not completely filled with writing. This pre- vents altering or raising the note. Most people are grossly careless in this respect. Our National money is a wonderfully simple and easy method of reckoning. Its coins beginning with mills, increase by the decimal figures, or ten-fold, up through cents, dimes, dollars, eagles. We have only to write down any amount in figures with a period (.) placed where it belongs, and then every figure always has the same value in the same place. Thus : For 1234.56 any figure standing where four is, always means so many dol- lars. The figure standing where five is, that is at the first place to the right of the period, always means so many dimes ; and the figure at six, the second place to the right always means so many cents ; or, we usually put the dimes and cents together and call them all cents, as five dimes, or five times ten cents or fifty cents, added to the six means fifty-six cents. A comma (,) is used merely to divide ofE the figures at the left into thousands, millions, etc., as $1,234,567.89. In all multiplications, additions, divisions, etc we use these figures the same 36 FARM ACCOUNTS. as any other. It is most common to use what are called "Vulgar fractions," as i, i, f, etc. ; but these are very inconvenient in most calculations. One-fourth is the same as two-tenths and five hundredths, or twenty-five hundredths, and it is a great deal easier to write 13.35 than 13J, especially in cases where the fractions do not just equal the common i, ^, f, i, etc. We will give a few examples ' Means. Means. Means about. 125.20 12Si 125 125.125 125J 125.3333 125J 125.25 125.625 125J 125.1459 125* 125.50 125 125.750 3.1459 Si 125.75 125 125.875 lilt 3.40 3A 125.6667 1258 125.126 125. JOG plus 125 125.376 125.125 ■onlyl25i 126.6 126J 125.1667 1251 3.60 3A , INTEREST TABLE. 31 o M » n i M o o h n B oot-»ocogooob-iacoMCsoot-ioM«ooot-ift«rtoxt-iome»o HNMNNNNM f-icacico-^^iawt-cioooa^oor-iOis^co'^mouvt-cococAo cot-oect-ocot-omt™ocoi— oeoh-o«i—owt-ocot— ocot-o r^rHT-.Nc5«eCci5eO'!t<'^rJ0«CD(Ot-t-t-COOOOOOSOOSO c^eoiat-oooiNcoiob-oooMcoiob-cooNmiat-QooeqwiQt-coo iH 11 r^ rt rH i-H (M N iM (M Q OrHr-liH««N«eCCO^Ti(-iliOlOlO»eOW.t-t-t-COOOOOOJOSOSOO H«N«««««cocceoeoeO'*'-*<'*^'*^iOiOiOiO -iN«MC5NMeoeocoeoeococoeoT(<^^^^^'* -iNcqsaiMNNcicoeocoeoeccccoeOTp^'*^ ^N I tot~oc4ia»o I tH r-l 01 M IM M CO "-asssss5?ssgs eOiOQOOWittQOOWmOQQ oieoiotooooai-icii^iot-QO 0^>OWt-OOAOi-4e4 OiHc^c^eoco^^toiotoco Hetn«iQ«>«aDO>ei^e Explanations. By simple calculations, mainly in. addition, one can readily reckon the interest on any amount, for any length of time, and at any rate per cent., by the pre- ceding table. Example : — What is the interest on $1,314.00 for two years, eight months and thirteen days, at seven per cent. First, get the interest at six per cent. For One Year. — The interest (by the table) is $60 on $1,000 ; it is $18 on $300 ; it is sixty cents on $10 ; and twenty-four cents on $4. Total for one year, 178. 84.— For two years, $157. 68. For eight months. — (By the table) on $1,000 the interest is $40 ; on $300 it is $13 ; on $10 it is 40 cents,' and on $4 it is sixteen cents. Total for eight months, $53.56. For thirteen days.^(By the table) on $1,000 the interest is $3.17; on $300 it is 65 cents; on $10 it is 3 cents, and on $4, 1 cent. Total for thirteen days, $3.85. Total for the whole time, $213.09. For five per cent. — Deduct one-sixth from the whole interest at six per cent. Thus, one-sixth of $313.09 is $85.53, which, deducted from $313.09, leaves $177.57 for the five per cent, interest. For seven per cent. — Add the one-sixth to the inter- est at six per cent. Thus: $313.09 plus $35.53 equals $348.61, which is the interest at seven per cent, on $1,314 for two years, eight months and thirteen days. For eight per cent. — Add one-third to the six per cent, interest. For nine per cent. — Add one-half to the six per cent, interest. For ten per cent. — ^Add two-thirds to the six per cent, interest. 39 NDEX. Account with hired help, 16 Account with merchant, IS Account with grain crop, 17 Cash account 21 Charges and credits, 26,27,29 Daily accounts 9-2S Farm accounts, importance of keeping, 6-7 Farm accounts, hook for, 15 Farm accounts, rules for keeping, 13-16,26-29 Interest, legal rates of, 34 Interest, tahles of 37 Inventory, 7,23,26,30 Laws, important business, 32-34 Kotes payable and receivable 19,30 Purchases and sales, 19 Stockbridge system, examples of 24, 28 Time book, 10 Trades and contracts 32 STANDARD BOOKS PUBLISHED BY ORANGE JUDD COMPANY NEW YORK CHICAGO Ashland Building People's Gas Building 315-321 Fourth Avenue ISO Michigan Avenue An^ of these books Tvill be sent by mail, postpaid, to any part of the world, on receipt of catalog price. We are altvays happX) to correspond with our patrons, and cordially invite them to address us on any matter pertaining to rural hooks, Send for our large illustrated catalog, free on appR- cation. First Principles of Soil Fertility By Alfred Vivian, There is no subject of more vital importance to the farmer than that of the best method of maintaining the fertility of the soil. The very evident decrease in the fertility of those soils which have been under cultivation for a number of years, combined with the increased competition and the advanced price of labor, have convinced the intelligent farmer that the agriculture of the future must be based upon more rational practices than those which have been followed in the past. We have felt for some time that there was a place for a brief, and at the same time comprehensive, treatise on this important subject of Soil Fertility. Professor Vivian's experience as a teacher in the short winter courses has admirably fitted him to present this matter in a popular style. In this little book he has given the gist of the subject in plain language, practically devoid of technical and scientific terms. It is pre-eminently a "First Book," and will be found especially valuable to those who desire an introduction to the subject, and who intend to do subse- quent reading. Illustrated. 5x7 inches. 265 pages. Cloth. Net, $1.00 The Study of Com By Prof. V. M. Shoesmith. A most helpful book to all farmers and students interested in the selection and im- provement of corn. It is profusely illustrated from photo- graphs, all of which carry their own story and contribute their part in making pictures and text matter a clear, con- cise and interesting study of corn. Illustrated. 5x7 inches. 100 pages. Cloth Net, $0.50 (1) The Management and Feeding of Cattle By Prof. Thomas Shaw. The place for this book will be at once apparent when it is stated that it is the first book that has ever been written which discusses the man- agement and feeding of cattle, from the birth of the calf until it has fulfilled its mission in life, whether on the block or at the pail. The book is handsomely printed on fine paper, from large, clear type. Fully illustrated. 5/^x8 inches. 496 pages. Cloth Net, $2.00 ' The Farmer's Veterinarian By Charles William Burkett. This book abounds in helpful suggestions and valuable information for the most successful treatment of ills and accidents, and disease troubles. A practical treatise on the diseases of farm stoclj; containing brief and popular advice on the nature^ cause and treatment of disease, the common ailments and the care and management of stock when sick. It is profusely illustrated, containing a number of halftone illustrations, and a great many drawings picturing diseases, their symptoms and familiar attitudes assumed by farm animals when affected with disease, and presents, for the first time, a plain, practical and satisfactory guide for farmers who are interested in the common diseases of the farm. Illustrated. 5x7 inches. 288 pages. Cloth. Net, $1.50. First Lessons in Dairying By Hubert E. Van Norman. This splendid little book has been written from a practical point of view, to fill a place in dairy literature long needed. It is designed primarily as a practical guide to successful dairying, an elementary text-book for colleges and for use especially in short-course classes. It embodies underlying principles involved in the handling of milk, delivery to factory, ship- ping station, and the manufacture of butter on the farm. It is written in a simple, popular way, being free from tech- nical terms, and is easily understood by the average farm boy. The book is just the thing for the every-day dairy- man, and should be in the hands of every farmer in the country. Illustrated. 5x7 inches. 100 pages. Cloth. Net, $0.50. A Dairy Laboratory Guide By H. E. Ross. While the book is intended primarily for use in the laboratory, it should be of value to the practical dairyman. The time has come when the suc- cessful dairyman must study his business from a purely scientific point of view, and in this book the scientific principles, upon which dairy industry is based, are stated clearly and simply, and wherever it is possible, these prin- ciples are illustrated by practical problems and examples. 90 pages. 5x7 inches. Cloth Net, $0.50 (2) ■ . • . Profitable Stock Raising By Clarence A. Shamel. This book covers fully the principles of breeding and feeding for both fat stock and dairying type. It tells of sheep and mutton raising, hot house lambs, the swine industry and the horse market. Finally, he tells of the preparation of stock for the market and how to prepare it so that it will bring a high market price. Live stock is the most important feature of farm life, and statistics show a production far short of the actual requirements. There are many problems to be faced in the profitable production of stock, and these are fully and comprehensively covered in Mr. Shamel's new book. Illustrated. 5x7 inches. 288 pages. Cloth. Net, $1.50 The Business of Dairying By C. B. Lane. The author of this practical Tittle 'book is to be congratulated on the successful manner in which he has treated so important a subject. It has been pre- pared for the use of dairy students, producers and handlers of milk, and all who make dairying a business. Its pur- pose is to present in a clear and concise manner various business methods and systems which will help the dairy- man to reap greater profits. This book meets the needs of the average dairy farmer, and if carefully followed will lead to successful dairying. It may also be used as an elementary textbook for colleges, and especially in short- course classes. Illustrated. 5x7 inches. 300 pages. Cloth. Net, $1.25 Questions and Answers on Buttermaking By Chas a. Publow. This book is entirely different from the usual type of dairy books, and is undoubtedly in a class by itself. The entire subject of butter-making in all its branches has been most thoroughly treated, and many new and important features have been added. The tests for moisture, salt and acid have received special attention, as have also the questions on cream separa- tion, pasteurization, commercial starters, cream ripening, cream overrun, marketing of butter, and creamery man- agement. Illustrated. 5x7 inches. 100 pages. Cloth. Net, $0.50 Questions and Answers on Milk and Milk Testing By Chas. A. Publow, and Hugh C. Troy. A book that no student in the dairy industry can afford to be without. No other treatise of its kind is available, and no book of its size gives so much practical and useful information in the study of milk and milk products. Illustrated. 5x7 inches. 100 pages. .Cloth. ...... ... . Net, $0.50 (3) Soils By Charles William Burkett, Director Kansas Agri- cultural Experiment Station. The most complete and popular work of the kind ever published. As a rule, a book of this sort is dry and uninteresting, but in this case it reads like a novel. The author has put into it his in- dividuality. The story of the properties of the soils, their improvement and management, as well as a discussion of the problems of crop growing and crop feeding, make this book equally valuable to the farmer, student and teacher. Illustrated. 303 pages. Sj^xS inches. Cloth. . Net, $1.25 Weeds of the Farm Garden By L. H. Pammel. The enormous losses, amounting to several hundred million dollars annually in the United States, caused by weeds stimulate us to adopt a better system of agriculture. The weed question is, therefore, a most important and vital one for American farmers. This treatise will enable the farmer to treat his field to remove weeds. The book is profusely illustrated by photo- graphs and drawings made expressly for this work, and will prove invaluable to every farmer, land owner, gar- dener and park superintendent. 5x7 inches. 300 pages. Cloth Net, $1.50 Farm Machinery and Farm Motors By J. B. Davidson and L. W. Chase. Farm Machinery and Farm Motors is the first American book published on the subject of Farm Machinery since that written by J. J. Thomas in 1867. This was before the development of many of the more important farm machines, and the general application of power to the work of the farm. Modern farm machinery is indispensable in present-day farming operations, and a practical book like Farm Ma- chinery and Farm Motors will fill a much-felt need. The book has been written from lectures used by the authors before their classes for several years, and which were pre- pared from practical experience and a thorough review of the literature pertaining to the subject. Although written primarily as a text-book, it is equally useful for the prac- tical farmer. Profusely illustrated. 5^x8 inches. 520 pages. Cloth Net, $2.00 The Book of Wheat By P. T. Dondlinger. This book comprises a complete study of everything pertaining to wheat. It is the work of a student of economic as well as agricultural condi- tions, well fitted by the broad experience in both practical and theoretical lines to tell the whole story in a condensed form. It is designed for the farmer, the teacher, and the student as well. Illustrated. 5^x8 inches. 370 pages. Cloth Net, $2.00 (4) The Cereals in America By Thomas F. Hunt, M.S., D.Agri., Professor of Agron- omy, Cornell University. If you raise five acres of any kind of grain you cannot afford to be without this book. It is in every way the best book on the subject that has ever been written. It treats of the cultivation and improvement of every grain crop raised in America in a thoroughly practical and accurate manner. The subject-matter includes a comprehen- sive and succinct treatise of wheat, maize, oats, barley, rye, rice, sorghum (kafir corn) and buckwheat, as related particu- larly to American conditions. First-hand knowledge has been the policy of the author in his work, and every crop treated is presented in the light of individual study of the plant. If you have this book you have the latest and best that has been written upon the subject. Illustrated. 450 pages. 55^x8 inches. Cloth $1-75 The Forage and Fiber Crops in America By Thomas F. Hunt. This book is exactly what its title indicates. It is indispensable to the farmer, student and teacher who wishes all the latest and most important informa- tion on the subject of forage and fiber crops. Like its famous companion, "The Cereals in America," by the same author, it treats of the cultivation and improvement of every one of the forage and fiber crops. With this book in hand, you have the latest and most up-to-date information available. Illus- trated. 428 pages. Sj4x8 inches. Cloth $1-75 The Book of Alfalfa History, Cultivation and Merits. Its Uses as a Forage and Fertilizer. The appearance of the Hon. F. D. Coburn's little book on Alfalfa a few years ago has been a profit revela- tion to thousands of farmers throughout the country, and the increasing demand for still more information on the subject has induced the author to prepare the present volume, which is by far the most authoritative, complete and valuable work on this forage crop published anywhere. It is printed on fine paper and illustrated with many full-page photographs that were taken with the especial view of their relation to the text. 336 pages. 6}^ X 9 inches. Bound in cloth, with gold stamp- ing. It is unquestionably the handsomest agricultural refer- ence book that has ever been issued. Price, postpaid,. . $2.00 Clean Milk By S. D. Belcher, M.D. In this book the author sets forth practical methods for the exclusion of bacteria from milk, and how to prevent contamination of milk from the stable to the consumer. Illustrated. 5x7 inches. 146 pages. Cloth $1 00 (5) Bean Culture By Glenn C. Sevey, B.S. A practical treatise on the pro- duction and marketing of beans. It includes the manner of growth, soils and fertilizers adapted, best varieties, seed selec- tion and breeding, planting, harvesting, insects and fungous . pests, composition and feeding value ; with a special chapter on markets by Albert W. Fulton. A practical book for the grower and student alike. Illustrated. 144 pages. 5 x"7 inches. Cloth $0.50 Celery Culture By W. R. Beattie. A practical guide for beginners and a standard reference of great interest to persons already en- gaged in celery growing. It contains many illustrations giving a clear conception of the practical side of celery culture. The work is complete in every detail, from sowing a few seeds in a window-box in the house for early plants, to the handling and marketing of celery in carload lots. Fuljy illustrated. 150 pages. 5x7 inches. Cloth $0.50 Tomato Culture By Will W. Tracy. The author has rounded up in this book the most complete account of tomato culture in all its phases that has ever been gotten together. It is no second- hand work of reference, but a complete story of the practical experiences of the best-posted expert on tomatoes in the world. No gardener or farmer can afford to be without the book. Whether grown for home use or commercial purposes, the reader has here suggestions and information nowhere else available. Illustrated. 150 pages. 5x7 inches. Cloth. $0.50 The Potato By Samuel Fsaser. This book is destined to rank as a standard work upon Potato Culture. While the practical side has been emphasized, the scientific part has not been neglected, and the information given is of value, both to the grower and to the student. Taken all in all, it is the most complete, reliable and authoritative book on the potato ever published in Amer- ica. Illustrated. 200 pages. 5x7 inches. Cloth. . . $0.75 Dwarf Fruit Trees By F. A. Waugh. This interesting book describes in detail the several varieties of dwarf fruit trees, their propagation, planting, pruning, care and general management. Where there is a limited amount of ground to be devoted to orchard purposes, and where quick results are desired, this book will meet with a warm welcome. Illustrated. 112 pages. 5x7 inches.' Cloth. . . . - $0.50 (6) Cabbage, Cauliflower and Allied Vegetables By C. L. Allen. A practical treatise on the various types and varieties of cabbage, cauliflower, broccoli, Brussels sprouts, kale, coUards and kohl-rabi. An explanation is given of the requirements, conditions, cultivation ahd general man- agement pertaining to the entire cabbage group. After this each class is treated separately and in detail. The chapter on seed raising is probably the most authoritative treatise on this subject eyer published. Insects and fungi attacking this class of vegetables are given due attention. Illustrated. 126 pages. .5x7 inches. Cloth $0.50 Asparagus By F. M. Hexamer. This is the first book published in America which is exclusively devoted to the raising of aspara- gus for home use. as well as for market. It is a practical and reliable treatise on the saving of the seed, raising of the plants, selection and preparation of the soil, planting, cultiva- tion, manuring, cutting, bunching, packing, marketing, canning and drying, insect enemies, fungous diseases and every re- quirement to successful asparagus culture, special emphasis be- ing given to the importanoe of asparagus as a farm and money crop. Illustrated. 174 pages. 5x7 inches. Cloth. . $0.50 The New Onion Culture By T. Greiner. Rewritten, greatly enlarged and brought up to date. A new method of growing onions of largest size and yield, on less land, than can be raised by the old plan. Thousands of farmers and gardeners and many experiment stations have given it practical trials which have proved a success. A complete guide in growing onions with the great- est profit, explaining the whys and wherefores. Illustrated. 5x7 inches. 140 pages. Cloth $0.50 The New Rhubarb Culture A cbmplete guide to dark forcing and field culture. Part I_By J. E. Morse, the well-known Michigan trucker and originator of the 'now, famous and extremely profitable new methods of dark forcing and field culture. Part II— Com- piled by G. B. FiSKE.^ Other methods "practiced by the most experienced market gardeners, greenhouse men and experi- menter's in all parts of America. Illustrated. 130 pages. 5x7 inches. Cloth. •. -. . . .--.-. . . . $0.50 (7) Alfalfa By F. D. CoBURN. Its growth, uses, and feeding value. The fact that alfalfa thrives in almost any soil ; that without reseeding, it goes on yielding two, three, four, and sometimes five cuttings annually for five, ten, or perhaps loo years; and that either green or cured it is one of the most nutritious forage plants known, makes reliable information upon its pro- duction and uses of unusual interest. Such information is given in this volume for every part of America, by the highest authority. Illustrated. 164 pages. 5x7 inches. Cloth. $0.50 Ginseng, Its Cultivation, Harvesting, Marketing and Market Value By M-AURiCE G. Kains, with a short account of its history and botany. It discusses in a practical way how to begin with either seeds or roots, soil, climate and location, preparation planting and maintenance of the beds, artificial propagation, manures, enemies, selection for market and for improvement, preparation for sale, and the profits that may be expected. This booklet is concisely written, well and profusely illus- trated, and should be in the hands' of all who expect to grow this drug to supply the export trade, and to add a new and profitable industry to their farms and gardens, without inter- fering with the regular work. New edition. Revised and en- larged. Illustrated. 5x7 inches. Cloth. .... $0.50 Landscape Gardening By F. A. Waugh, professor of horticulture, university of Vermont. A treatise on the general principles governing outdoor art; with sundry suggestions for their application in the copimoner problems of gardening. Every paragraph is short, terse and to the point, giying perfect clearness to the discussions at all points. In spite of the natural difficulty of presenting abstract principles the whole matter is made entirely plain even to the inexperienced reader. Illustrated. 152 pages. 5x7 inches. Cloth. . ' $0.50 Hedges, Windbreaks, Shelters and Live Fences jBy E. P. Powell. A treatise on the planting, growth and management of hedge plants for country and suburban homes. It gives accurate directions concerning hedges; how to plant and how to treat them ; and especially concerning windbreaks and shelters. It includes the whole art of making a delightful home, giving directions for nooks and balconies, for bird culture and for human comfort. Illustrated. 140 pages. 5x7 inches. Cloth. $0.50 (8) Cornell University Library arV19252 Bookkeeping for farmers 3 1924 031 289 709 olin,anx