Little Falls weekly transcript., 1894-08-31

lighting one another with fierceness that
exceeds their denunciation of the common
enemy. Discord has broken out in theil
midst, and already in the Minnesota com
mittee, there are mutterings of wrath and
the prospect of lively war between Don
nelly and Lucas, over the appointment OF
newspaper as officially representative OF
the party. which promises to grow into al
open rupture, and which really voices the
hope of Donnelly and Owen for senator.
ship that will never be within reach OF
either. A brilliant public man once made
very bright epigram about ''the cohesive
power of public plumber" There is an ex
tenslve and disintegrating power OF public
rlunder far more universally operative
Were it not SO, brigands would put down
governments, instead of the government
uniformly putting down brigands This
disintegrating force will play the mischief
with the Peoples Party, and it's pro-
gramme, long before election day comes
around.
The census Office has just completed its
official bulletin on real estate mortgage
statistics, which is important as bearing
on subject much discussed by the
Peoples party orators, and
A Matter of Serious Thought to the
Farmer.
There are some statistics in this report
>that should be familiar to all. They snow
a very large increase of mortgage indebt-
edness, but they show at the same time
that such increase has uniformly accom-.
panied the largest increase in wealth or in
actual developments; and they also show
that the larger share of this burden falls
not upon the acres of the farmer, but
Rpon the lots of the city resident. The
whole number of mortgages made in one
year in the United States increased from
643, 143 in 1880 to 1,226, 1923 in 1889, or 9O.6s
per cent; and the yearly incurred indebt-
edness increased from sic, 1888 ,5O4 in $780,
to 81, ,752 $685. in 1889, or 1868 per cent.
But while the number of mortgages on
acres increased A.4 per cent, and the
amount of debt increased 7O.98 per cent,
the mortgages on lots increased in number
157.65 per cent, and the amount represented
increased 216.80 per cent. The mortgage
debt por capita for the whole United
States st the end of the decade was $96;
the largest averages being found in New
York, with 1858, Colorado with $2O6, and
California with $500. The smaller per cap
ita debts were mostly found in the South.
The average rate of interest on mortgages
is found to be steadily declining from year
to year. -..~. -.
Taking now, the statistics of Minnesota,
in which we are most interested, it is
found that the number of mortgages re-
corded in any one year rose from 22, ,427,
representing SIS, ,o9s, ,076 in 1880, to 6o'463:
representing $40, 500, ,337 in 1887: and then
declined to 1866, representing $50, ,7s1 ,538
In 1889. The relative proportion between
the beginning and the end of the decade is
about the same as in other states.
The distribution of this mortgage debt,
however, is exceedingly interesting. The
mortgages placed on acre property in 1880
amounted to $40, ,603, ,023 and in 1889 to slS,-
16O,65l, an increase of about so per cent.
The mortgages on city lots, which were
only 81, 4,490,053 in 1880, had increased in
1889 to the enormous total of $41 ,O2O, ,SS7,
or between 800 and 900 per cent. It thus
appears that if the cities of the state have
increased in size and wealth out of
proportion to the rural districts, they have
mad to pay roundly for it; and the burden
OF mortgage debt put on city property in
1890, which is nearly ten times what it was
ten years before, was also 2 1-3 times the
debt assumed in that year by all the
farmers in the state. rs
The total mortgages in force on the first
Of January, 1890, numbered 195,580 and
represented 3 value Of $197, ,745 .9S9 OF this
great amount, only $75 0OO, 900 was burdens
upon acre property; s122, ,O0o, 900 rested on
city lots. Moreover, the ratio Of debt to .
the actual value Of the property encum-
bered IS much higher IN the city; averag-
ing over g. SIS per cent, as against 1881 per
cept, for the country districts. The in
crease Of mortgage indebtedness III the
State Of Minnesota in the last 10 years
has been notably small instead of notably
large, as compared with other Western
communities In the newer states, where
y large proportion Of mortgages listed are
made to cover part Of the cost Of the
property, or represent permanent improve
sments, the increase IS naturally
s. Much Larger Than in Older Countries,
where real estate has already received all
the burden IT will bear. So in this bulle-
tin, Il IS the newer Western states y here
mortgage indebtedn has Increased most
rapidly The percentage for Minnesota
FOR the last ten years 2sg6 but it IS ssl l..
Nebraska 10 ii the fiourishing state of
Texas. s. Is i,;;s. IN