The farmers' union. (Memphis, Mo.) 1891-1895, 1894-08-30
of the true value of all taxed real
estate and unlaxed mines

estate and untaxed mines.
The mortgage debt in force per
capita in the United States is 500;
the three larger State averages (omit-
ting the District of Columbia) are
1868 in New York, 1906 in Colorado,
and $500 in California. The smaller
ones are found IN the South and the
Rocky mountain region, In the Dis
trict of Columbia it is 1926.
In forty-one States 1886 per cent,
the taxed acres are covered by mort
cages in force. The largest proper
ton of morrgaged acres is in Kansas,
where 60.3O per cent, of the total
number of taxed acres are mortgaged.
Nebraska stands next with 81 q per
cent; South Dakota third. with 51.76
per cent. In the five States, Illinois,
Kansas, Missouri, Nebraska aud
South Carolina, 23.99 per cent, of the
taxed lots are covered by mortgages
in force.
The average amount Of debt in
force against acres to each mortgaged
acre in the United States is sos; of
debt in force against lots to each
mortgaged lot, 1916; there ll9 acres
covered by each mortgage in force
against acre lots.
AVERAGE RATE OF INTEREST OVEN 6
PER CENT.
The average rate for all mortgages
The average rate for all mortgages
in the United States is 6.6O per cent;
for mortgages on Acres. 7.36 per
cent. These rates make the annual
interest charge on the existing real
estate mortgage debt of the United
States a'aoant to 1897, 7,442,792; on
the debt in force against acres, BlG2,-
652 ,944; on lots, $237, 7s9,s4s.
On each mortgage in force in the
United States the average annual in
terest charge is s83; on each mort
gage in force against acres, $7l; on
each mortgage in force against lots
$95.
Six and threc-hundredths per cent
of the number of mortgages made
during the ten years were for amounts
OF less than 500 each. while 45.l7|
per cent Of the entire number we're
for amounts Of less than $500. G9.54
per cent of the entire number for
amounts of less than $1,000, 27.4l
per cent Of the entire number for
for amounts of $1,000 and under
81, 1000 each, and 4.O5 per cent of the
entire number were for amounts of
81, 600 and over.
Of the real estate mo: teage indebt-
eaness incurred in the United States
during tho decade, 4l.S9 per cent
was subject to 6 per os..t tate of in-
terest; 1906 per cent of the debt in-
Cured was subject to rates less than
6 per cent; 1905 per cent of the debt
in cnrred was subject to rates great
er than 6 per cent, aud l4.4l per
cent Of the debt incurred was subject
to rates greater than 3 per cent.
The average rate Of interest on
real estate mortgages declined from
7.l4p per cent in 1880 to 6.75 per cent
in 1889, with some Interruptions to
the continuity of the decline in the
mean tine. The average rate of in-
terest on mortgage oa acres declined
from 7.62 per cent in 1880 to 7.52
per cent in 1889, aud on lots from
6.G9 per cent in 1880 to 6.37 per
cent in 1889.
4 final table shows the objects for
which real estate mortgages are made.
These were ascertained by personal
inquiry in lO2 counties in various
parts Of the Union. and in these coun-
ties it was discovered that SO.13 per
cent of the number of mortgages, re-
presenting $3.50 per cent of the orr
ginal amount of mortgages in force,
were made to secure purchase money
and to make improvements when Tot
combined with other objects. and
that S9,S2 per cent Of the number Of
mortgages, representing 94.3S per
cent Of the original amount of exist
ing Indebtedness. were made to Sc
cure purchase money. to make i'm.