Contents: Statement of problem --- Sources of data and selection of area --- Relation of land income to land value in 1920 --- Accuracy and representative character of the data --- Net cash rents and their relation to land value --- Factors determining relationship of land income to land value at a given time --- Long time tendency in the ratio of land income to land value --- Anticipated rate of return on investments in farm lands --- Actual rate of return on investments in farm lands --- Analysis of cash rent as a measure of land income --- Bearing of this study on other problems --- Appendix.