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JACOB HAIN Jacob Hain is the son of a German
immigrant. He is 20 and is about to get married. As a wedding
present, his father, who has been raising wheat since arriving in
Maryland 10 in 1764, gives him 50 acres of cleared land, 25 acres of
wooded land a wagon, a pair of oxen, some seed wheat and a plow. In
the early months of 1774, Jacob Hain builds his bride a house, and
plants his 50 acres in wheat. Though he doesn’t have any money
saved, he is hopeful; looking forward to the harvest and sale of his
wheat. His new wife plants a vegetable garden and her parents give
the couple a milk cow so they do not go hungry.
Write $0 in the "Starting Money" column on your
ledger. |
JACOB HAIN 1777
Finished Goods: You sell 70 barrels of wheat at $2 a barrel
to George Ellicott. Write $140 in the "What I earned"
column on your ledger.
Capital Investment: Some neighbors of yours are tories
(supporters of England in the American Revolution). They decide to
sell their land and return to England. You jump at the chance to buy
50 acres of uncleared land at $1.50 an acre. Write $75 in the
"What I spent column on your ledger.
Your 15 year old cousin comes to stay with you and helps you clear
the land in return for his keep. With two of you working, you are
able to clear 20 acres of the land. You now have 90 acres of wheat
planted. Your cousin agrees to help with harvest in 1778 if you will
pay him a wage. |
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JACOB HAIN 1774
Finished Goods: You sell 50 barrels of wheat to George
Ellicott. He pays you $2 a barrel. Write $100 in the "What
I earned" column of your ledger.
Capital Investment: You spend the months of November
and December clearing another 10 acres of land. Though this does not
cost you any money, you hope it will allow you to grow more wheat next
year.
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JACOB HAIN 1778
Operating Costs: Your cousin helps with harvest. Pay him
$20. Write $20 in the "What I spent" column of your
ledger.
Finished Goods: You sell 90 barrels of wheat at $2 a
barrel to George Ellicott. Write $180 in the "What I
earned" column on your ledger.
Capital Investment: You clear 20 more acres of land.
You now have 110 acres on which you can plant wheat.
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JACOB HAIN 1775
Finished Goods: You sell 60 barrels of wheat at $2 a
barrel to George Ellicott. Write $120 in the "What I
earned" column of your ledger.
Capital Investment: You spend the months of November and
December clearing another 10 acres of land. Though this does not cost
you any money, you hope it will allow you to grow more wheat next
year.
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JACOB HAIN 1779
Operating Costs: Your cousin is helping full time now. You
need more tools! You buy an ox at $10. You also buy another plow
from a blacksmith working near Ellicott’s mills for $10. Your
cousins wages are $40. Write $60 in the "What I spent"
column on your ledger.
Finished Goods: You sell 110 barrels of wheat at $2 a barrel
to George Ellicott. Write $220 in the "What I earned"
column on your ledger.
Capital Investment: You clear 15 more acres of land.
You now have 125 acres on which you can plant wheat.
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JACOB HAIN 1776
Finished Goods: You sell 70 barrels of wheat at $2 a barrel
to George Ellicott. Write $140 in the "What I earned"
column on your ledger.
Capital Investment: Though you want to clear more
land, the American Revolution is raging. Your wife is pregnant and
you do not feel safe working far from the house. Though you choose
not to fight, you send blankets your wife has made to French soldiers
stationed near Elkridge Landing. You set your hopes on the year 1777.
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JACOB HAIN 1780
Operating Costs: Your cousins wages are $40. Write $40
in the "What I spent" column on your ledger.
Finished Goods: You sell 110 barrels of wheat at $2 a barrel
to George Ellicott. Write $220 in the "What I earned"
column on your ledger.
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