25

FARMER’S NET WORTH

Real estate was the largest single item of the settler’s capital. At the same time it was a difficult value to obtain accurately because there was not a steady enough turnover of land in the area to establish a price. Nevertheless, the values obtained were what the farmers thought that they themselves would be willing to pay for the farm. The equipment, livestock and supplies on hand were valued by the farmer at current market prices.

In each of the districts, real estate averaged $3000 to $4000 per farm which was about one-half the total assets (Table 14). Farm capital per farm was smallest at Prince George and largest at Francois Lake. The latter district had experienced more abandonment of farms. In the consolidation which followed the remaining farmers had tended to establish themselves with more capital in land and in cattle to make use of the additional grazing area. In Smithers, too, the farms tended to be larger and therefore real estate values per farm were higher.

TABLE 14.—ASSETS AND LIABILITIES PER FARM BY DISTRICT, PRINCE GEORGE-SMITHERS AREA, 1948-45

} Prince Vander- | . 3 | Francois | George hoof | Smithers | Lake Saas Sing | aise | $ | ROSIE SEA TE any ws owners nce wis hoesas sane wis et bareraneane ais | 3,00L | 3,431 4,204 | 3,851 TUTR ECS UF kel aR TR Bes eR ata ec 951 1,750 | 1,354 | 2,142 PP ECHINGI Vartetrateutareite <hr atcre se cjatiren aieteeieaciays eis | 1,062 1,411 | 1,122 1,003 MEGU BPANCEOUPDHOScir Serene Roe nce inisia Seba yl interes -| 108 191 | 222 | 456 MW GHONPA Sao bSeae tote ciara lems cis ovsrte rare foretttaretoteaece .| 933 946 1,523 | 1,986 ROLE PASSO US: Eee set era iin atlas eee ais | 6,415 7,729 | 8,425 | 9,438 LLIN AOS | Odie an aaa ase oER ppb bos ert er apmaen ook 259 | 730 | 623 | 366 Bo Gi Or tbie a tercue eitks erates ont gene : Pace etal 6, 156 6,999 | 7,802 | 9,072

Liabilities per farm were low, averaging $259, $730, $623 and $366 for the Prince George, Vanderhoof, Smithers and Francois Lake districts, respectively. Proportionately, they amounted to less than ten per cent of total assets. While this indicated that the farms as a group were solvent it was not necessarily an indication that agriculture in the area was in a favourable position to progress. For these small debts were largely agreements of sale between the farmers and private sellers of land. By and large long term lenders had not considered the probable returns from agriculture high enough to warrant extensive lending to farm operators for developing their farms.

Among the various farm types the whole-milk farms were the largest. The value of their assets averaged $15,008 per farm (Table15). Next were the forage- seed and off-type farms which had assets valued at $11,951 and $10,272, respect- ively. These were three farm types that required considerable organization and it was natural to expect that their business would be larger than average.

TABLE 15.—ASSETS AND LIABILITIES PER FARM BY TYPE OF FARM, PRINCE GEORGE-SMITHERS AREA, 1943-45

| Farm Type Nose | Assets Liabilities Net Worth $ $ | $

| TENG HET atm SAG RU st cat on A Ce 48 | 6,339 460 | 5, 879 Subsistence 26 4,422 265 4,157 Crop ti eore ciara 16 7,136 399 6, 737 lish aay) Seen he ahd ORAS SHO RRS CBee Dm RCO On OOOH Ria 72 7,966 553 7,413 IN De Gaye ea ae set Tee ye RC neta aa Rang OOgn 65 8, 248 559 7,689 Bite lina yee Soy quin nee SHOU RUE E TBA tomo tre 15 7,706 313 7,393 Vegetable Seed 3 9,060 405 8, 655 Ieee oh ae Da ae ashonnaosouona sonunpecduupononn 4 11,951 66 11,885 \Wiiharey yl i oie ee RS ee BRB AS enGamIpad GaSear Too 8 15, 008 2,017 | 12,991 PSA RRC Sik AOS a CORI Ean ODA TOU sa Momoeyae 6 10,272 516 9,756

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