“We have 160 acres of land in the farm. My father owns the land. I do the work, provide all the labor, horses, and machinery, and we have an equal interest in the live stock and we share equally in the net returns.”
Other terms of coöperation have proved successful. In many cases, the son rents all or a part of the place on terms similar to those allowed the outside renter; excepting that he is usually given the advantages of free board and the use of the home conveniences. In all such business transactions between father and son it is highly advisable that the contract be carefully drawn in writing. The verbal contract is proverbially a trouble maker, and that even among relatives.
Summary and concluding suggestions
1. Not nearly all promising youths can be encouraged to take a vital interest in the father’s business.
2. In case the boy cannot be induced to take a permanent interest in anything on the home farm, he may at least have much practice in the transaction of the small business connected therewith.
3. The ability to work willingly, the ideal that an honest living is to be earned through personal effort, and the practice of saving a part of the weekly or monthly earnings—these will give any boy an excellent start on the road to success and affluence.
4. Deal with the young son on business principles from the first, seeing that he shares reasonably in the losses as well as in the gains. Although his interest in any chosen line of work may not become vital till he makes some money out of it, hold him persistently in line during the “lean” years and thus allow him to learn the excellent lessons of failure.
5. It may prove unfair to the members of the family to permit one of the sons to secure control of the business of the home farm. Some pathetic instances of this kind have really occurred. For the sake of the peace and well-being of all, such an occurrence must be prevented by careful forethought.
6. On the other hand, in case where the boy has started with a scrawny pig or through renting a piece of the home place, and, after dealing fair and square with all, has come into possession of considerable property of his own, do not wrest it from him or in any way take advantage of his minority. Such a youth will in time most probably reflect high credit upon the family.
7. Finally, the farm parent needs to be warned against the possibility of developing his son into a mere money-maker. Such is a poor standard of success. The man whose only aim in life is merely to prosper financially is a poor citizen of any community. Teach the boy to succeed in his business ventures, but at the same time imbue him with the thought that his money wealth must be regarded as so much opportunity to help build up the community, the state, and the nation. Teach him that financial success is worthy of the name only when it is linked with social efficiency.