The Arkansas Farmer

PRACTICAL FARM TALKS.

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at this question and the environment, in which you have been reared, will influence your thinking. If you are the man furnishing the money then you represent, as it were, "capital" and you feel that since you and you alone made it possible to enter into the business that your vantage should entitle you to the lion's share of the profits. If you are the one to do the work and have worked where directions were given you by the foreman then you have the viewpoint of labor and feel that only labor can create wealth and that you are entitled to more than fifty percent of the profits. Both of these viewpoints are in error because there is a third factor to be reckoned with, the managership. Capital cannot move without labor and labor cannot exist without capital but there can be no progress unless both capital and labor are intelligently managed and directed. Capital is due one third of the profits, labor one third and the manager one third. In the case of your sheep Mr. Turner if the party who puts up the money and the land should do nothing else this question and will, I suppose, continue to disagree because it is a debatable question. The point of view has a great deal to do with how one looks and the other fellow do all the work and furnish the intelligent management necessary to make a profit in the business then he is entitled to two thirds of the profits. If on the other hand the man who puts up the money and land also gives detailed supervision and the other fellow just does the work then the first man is entitled to two thirds of the profits. Usually the lines are not drawn so distinctly and the man who puts up the money and land will exercise enough of the managership to entitle him to fifty percent of the profits.