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Hampton Negro Conference. Number III. July 1899.

1899VA-State-Hampton_Proceedings (85).pdf

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Current Saved Transcription [history]

84

In witness whereof the said "Co-operative Land Association" hath hereunto affixed its corporate seal duly attested and the said Tenant has set his hand and seal the day and year first above written.

Sealed and Delivered in the presence of { ........................ President.

Attest

........................Secretary,

(Seal)

(Corporation Acknowledgment)

(Individual Acknowledgment)

Recorded in .................... County, State of.................... this day of ...................... A.D. 190....

(The annual rental named above—$116.60—being equal to the sum total of the annual instalment on the 10 year endowment policy plus the cost of the fire insurance, the fertilizers and paint to be furnished by the Association, the proportionate part of cost of maintaining the school, and ten per cent upon the entire cost of the farm improved and equipped. The annual dues of the Tenants providing for the salary of the Superintendent.)

For the purpose of demonstrating what might be accomplished amongst the ignorant Negroes, upon a purely business basis, under the operation of the proposed lease, the following figures are submitted. In all calculations included in this example every effort has been made to keep well within conservative estimates, so to arrive at a result that has every assurance of being correct, and while this proposition is based upon the average small farm located in the Cotton Belt, there seems to be no reason why the same result should not be reached in any of the other farming sections of the South which are largely settled by the Negro race, by a slight modification of the terms of the Contract.

The average farm as now conducted in the Cotton Belt under the lien system will show about as follows:—

Contents of Farm 25 to 30 acres:

Yearly product:—

7 Bales Cotton, 3,500 lbs. at say 5 cents at Warehouse $175.00

Yearly rental for such a farm, and mule ................ 75.00

Rations received from Landowner or Store-keeper, payment of which is secured by lien on crops ........ 100.00

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