New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-25
EINC1S MORTG 1G rs.

"The Topeka Daily Capital OF March 20
| mblshos its eleventh monthly statement of farm
mortgages from forty-siX counties IN Kansas,
covering releases and mortgages recorded Tor the
month Of February. 1t appears from this state
mcnt that in the forty-siX counties there were
| released during the month S1,49O,2sI, while
mortgages were recorded for S12j6, O2O, show
ing an excess of farm mortgages released amount
ing 10 S234.267. The same paper remarks that
- the average gain in farm mortgages released
is about the same as in January, but the per-
cenages of the purchaSemoncy mortgages Is
greater Ten of the forty-sy counties report
Sl5O.OOO Of purchase money mortgages record
ed" and reckoning from these data ." The Cap
ital" concludes that lover half million dol
lars of farm mortgages have been actually pald
off in these. counties, being less than half the
State" during the single month of February
IL is further shown that the actual sales of farms
in fourteen counties aggregate over SI5O, 600 IN
February indicating a return of confidence, and
the buying Of farms as an investment.
Among other interesting facts given in this
monthly review is this that few of the holders
Of mortgages which have been foccloSed are
non residents The notion that the Eastern poo
ole have somehow fastened their claws upon the
farmers of the West. and are bleeding them 10
death. seems to be met by the statement that
"by careful inquiry we have ascertained that
less than 10 per cent OF the original mortgagorS
of these forcclosed farms are now non-rcsldents
Of the State" As further evidence Of the grow
ing prosperity Of the people and the rapid ex-
tinguisbment of their Indebtedness, it is stated
that for an average period Of eight and half
&c Eou nd ntrnl
Kansas report farm mortgage releases Of over
Sl5. 900 OO0 and a net reduction, D0twlthStand-
inc renewals and now mortgages and large pur-
chases Of land. of S3659 495. A careful est-
mate based on the reports received indicates that
tho actual reduction of farm mortgage debt in
seventy counties for eight and n half months has
been not less than S7,000,000."
These arc tho results of single good crop.
10 n scarcely necessary TO remind any intelligent
reader that n large part Of the farms in Kansas
were either occupied for the first time within
comparatively few years, or changed hands only
few years ago when the fever of speculation
in real estate swept over the West Thus II
came to pass that an unusual number OF farm
owners in Kansas had mortgages for relatively
large amounts on their farms, not because they
had run into debt through failure to make money
by working their farms, but because the results
of their work in a comparatively short time had
not yet suliccd 10 pay the entire Indebtedness
originally incurred Nor is it necdful TO remind
the good people Of Kansas that for several years
prior to 1891 their state was exceptionally UNI
fortunate as respects the weather and the sue
cess Of the wheat crop so that in considerable
parts of the State the attempt to raise wheat had
been abandoned by many farmers, and the area
planted had considerably diminished. These
wcro the circumstances which brought about
what currency agitatorS were fond Of calling
"the impoverishment of the people of Kansas"
But with a single year Of fair weather and good
crops the State in pulling out Of debt 81 rapidly
that there seems to be much reason to doubt
whether tho political and "morc money! ag-
tltOrs will find Kansas profitable field here
after for the growing of the crops they try to
cultivate