Some facts concerning the New York State College of Agriculture at Cornell University. Presented to a hearing of legislative committees. Albany, April 5, 1910/Value of higher education to the farmer
VII. VALUE OF HIGHER EDUCATION TO THE FARMER.
In connection with the farm management investigations of the College, some very suggestive evidence has been secured showing the money value of education in farming. In a number of townships all of the farms were visited and accurate data obtained from the farmer showing his income from his own labor. In deriving the farmer's labor income, from the gross receipts there were deducted all expenses, including those for labor other than that of the farmer himself, five per cent, interest on capital invested and a charge for depreciation in apparatus, tools, etc. Record was also made of the highest school the farmer had attended. Complete data were secured from 573 men. The results were as follows:
It might be assumed that these differences were due to the high school men having had better farm opportunities. To eliminate this difference, the farms were arranged in groups having equal capital:
From this table it appears that in every group the men having the highest education made the best use of their capital. From the first table we see that there is an increase of $304 per year in labor income of those men who have attended high schools. Therefore we may conclude that "a high school education is worth more to these farmers than an endowment of $6,000 in 5 per cent, bonds."