The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1893-05-26
YERMoNT,s HOMES AND FARMs.

III a OltlObih AAoo oSOh
issued by the census bureau, and the
made is creditable to the State
to a marked degree. 1t is shown in re-
gard to farms that 50. SO per cent of the
farm families own the land which they
cultivate, while only 1852 per cent hire
the farms which they occupy. This is
large per cent as compared
with the ownership of farms in other
States, and the exhibit is also favorable
as regards the ratio of farm incum-
brances in this State. There are 32,573
farm families in Vermont, which is AZ
.93 per cent of the total number of fam
lilies, 70, 800. OF these 1886, or S2.3S per
cent own and 573S, or 1852 per cent hire
the farms cultivated by them, while of
the owning families 1900, or 44.35 per
cent have incumbrance on their farms,
and Il, 935, or 55.65 per cent have no in
cumbrance. The average 100 farm fam
lilies are composed of 1872 that hire, So
80 that own with incumbrance, and 45-
.S5 that own without incumbrance.
In other words among the average 100
farm families, IS hire their farms, SO
own with incumbrance, and 46 without
incumbrance. On the owned farms of
the State, which are valued at S2S, 62o, S93
there are liens amounting to S11, 1852, 400,
which is Al. 76 per cent of their value, the
average farm incumbrance for the State
being $1,000, and this debt bears interest
at the average rate of 5.SS per cent, max
ing the average annual interest charge
$50 to each family. Each owned and in
numbered farm, on the average, is worth
S2405, and is subject to debt of S1004.
In 1880, 1874. per cent of the farms were
hired, so that there is an apparent rela-
tive increase of farm tenancy during
the decade; but the sources of the sta
tistics for 1880 and 1890 are not the same,
since the figures for 1880 represent farms
and those for 1890 farm families, and this
may somewhat affect the comparison.
Turning to the subject of the owner
ship of homes the bulletin says that 49,
296 home families, who constitute 5707
per cent of the families of the State, are
divided into the several classes as fol-
lows: hiring families, 23,547, or 54.39 per
cent of the total number of home fami-
lies; owning families, 10, TAO, or 1851 per
cent; families owning free of incum-
brance, 12,464, or GIL per cent of the
total number owning; families owning
subject to incumbrance, 1885, or $3.50
per cent of the owning families. OF 100
home families, on the average, $3.50 hire
their homes, 1852 own with incunbrance
and 28.79 own without incumbrance.
As would naturally be expected, city
homes are hired in a greater degree than
is found outside of cities. In Burlington
and Rutland, which are the only cities in
the State having population over 10000,
having population of IA $50 and II, 100,
respectively, there are 50, 1872 home fami
lies, of which 3095, or 5S.05 per cent,
hire, and 2237, or Al 95 per cent, own
their homes. Homes subject to incum-
brance are occupied by 1888 owning fam
lilies, or 1918 per cent of the total own
ing families, and 1904 families, or 1882
per cent of the owning families, have no
home incumbrance. In 100 of these city
home families, on the average, $500 hire
their homes, 1877 own with incumbrance
and 2.5S own without incumbranee. In
Burlington 59.7l per cent. of the home
families hire their homes and in Rutland
1927 per cent.
Taking the State as a whole, of 100
home families there are found on the av-
erage SO who hire their homes, % that
own their homes without incumbrance,
and 10 with incumbrance. The total
debt ON owned homes aggregates $780,
10, or 1920 per cent. of their value. An
dNCIdHb NlCUb VI PlOt CalCll
home, which has the average value of
S2.026. The liens on the owned homes
are So 20 per cent of the value of those
subject to lien. Several averages show
that the value of each owned and incum-
bered home is 3,2O2; the lien on the
same, 81 1852, and yearly interest charge
Oh each home, 500
A debt of $4,000 incumbers ,033
owned homes of Burlington and Rutland
and these incumbered homes are worth
3,30S, l24, so that the debt is 1862 per
cent of the value. The debt incumber-
ing the owned homes in the State out
side of Burlington and Rutland is 37.46
per cent. of the value of the homes sub
ject to the incumbrance.
Real estate purchase andimpruvments,
when not associated with other objects,
caused S2.67 per cent. of the farm fami-
lies to incur 1911 per cent. of the faI III
debt and S1.5l per cent of the home fam
lilies to incur Sl.79 per cent. of the home
debt.
Taking up the subject of interest on
loans the bulletin states that the total in
terest charge for one year on the debt in
numbering the owned farms of the State
is sos, 3l9, on the homes, 1926, S65, max
ing a total of 81 ,029, 1874. The average in
terest charge for one year on each farm
is $50; on home, $40 and on each home
in Burlington and Rutland, $50. On
farm loans the average of interest is D.
.SS per cent; on home loans, 5.94 per
cent. on home loans in Burlington and
Rutland, 5.94 per cent The average an
nLal interest value of each owned and
incum bered farm in this State is Sal; of
each home, S120; of each home in Bur
lington and Rutland, $3.50. Outside of
Burlington and Rutland the average an
nual interest charge on each home is
SAL; the average rate is 5.94 per cent.
and the average annual interest value,
500.
The enumerators found three cases in
this State where as high as 10 per cent.
interest was paid and two of these were
on farms. This announcement would
suggest the thought that it is not neces-
sary to 60 West in order to find large
rates of interest on farm mortgages, and
the wonder is how the mortgagors could
afford this rate. However, the chief rate
of interest in this State is six per cent.
This rate is paid on IS. 33 per cent of the
farm incumbrance by 81. Is per cent. OF
the farm debtor families; on 04.04 pei
cent. of the home incumbrance by 1854
per cent. of the home debtor families
and in Burlington and Rutland on 90. II
per cent. of the home incumbrance by
1861 per cent. of the families occupying
owned and incumbered homes. These
figures show that the home and farm
owning families constitute a very large
portion of Vermonts population, that