The herald-advance. (Milbank, S.D.) 1890-1922, 1894-02-16
FARMERS DOING WELL.
Statistical Blow 10 Calamity Howl.
erS.

Washington, Feb 9.-The statistics OF
ownership and debt just issued from the
census office offer the coldest kind of
comfort for the communists and popu-
lists and calamity -howlers. They are
complete for twenty-five states, not in
cluding the most pnpulous and prosper
Gus states OF New York, Ohio, Pennsyl-
vania a. d Illinois. They include the
six New England states, Maryland Geor-
gia, South Carolina and Tennessee in
the south; Iowa, Wisconsin and Mime
sofa in the northwest; the District Of
Columbia and New Jersey in the east,
and Arizona, Idaho, Montana. Nevada,
New Mexico, Utah and Wyoming in the
far West. These represent very great
variety of industries and furnish fair
sample Of the whole country. 1t is be-
lieved thai the average Will be increased
rather than lowered when the returns for
the whole country are compiled
In these twenty 1.-TWO states and terri
tories 50 out OF every 100 farmers own
the farms they cultivate. Seventy ont Of
every 100 OF these farms are tree from
incumbrance Thirty per cen, are mort
gagged and the average amount OF the
mortgage is 80 per cent OF the value of
the tarm. Seventy five per cent OF these
mortgages represent deferred payments
,f h,f far
borrowed to build houses, barns and
other improvements Twenty five per
cent represents debts contracted by farm
jwners for other purposes, The average
rate of interest paid upon farm mort.
cages in the states named is little less
than Z pei cent. The incumbered farms
are worth an average OF $3,l90, with an
average mortgage Of 81, l30 and an aver
age annual interes: payment OF s7s,
which does not sustain the popular cry
that the profits of the farmers all 60 to
the shylocks and that the masses are
toiling to enrich the money lenders.
The statistics demonstrate, too, that
the farmers are the most prosperous and
comfortable members Of the community
They show tha, OF the population OF the
towns and cities in these twenty two
states 63 per cent Of the families rent
their homes and 81 per cent own them.
ht mes free of incumbrance and the re
naming 20 per cent are incumbered :.
40 per cent OF their value, with an aver
age interest charge OF 6.O3 per cent
amounting to an annual average OF $50
per family. The average value OF incum-
bered homes is S3,254 and the average
mort gage is Sl,319. Eighty two per cent
OF this Indebtedness was incurred in the
purchase OF the real estate and in max
ing the improvements OF each 100
families 6S rent Ihelr homes and twelve
own them with and twenty without in
cum mbrances.
1t is q singular fact that in the states
where the populsts are the strongest
tree homes and farms are the most nu-
merous. In Georgia, tor example, Of
10000 families, 100000 own their homes
free OF mortgages, while in New Jersey.
of 10000 families, only 59,548 have tree
homes aud 50,390 are mor,gaged. In
South Carolina ga, ,l4l families own their
homes. OF these only 4,533 are mort
gagged. In Connecticut 6S,975 families
own their homes, but 285l8 are mort
gagged. In Iowa 24s.49l families own
their homes. 1O4 ,072 are mortgagad. In
Tennessee 15O,38O own their homes and
only $500 are mortgaged. Georgia offers
the smallest percentage OF incumbered
homes, with Tennessee the next. Then
New Mexico, only 2 O3 per sent being
incumbered. The per cent OF incumber-
ed homes is as follows in the localities
named: Arizona, 258; Nevada, 4.02, ,
Utah. 5l2; District of Columbia, 6.02 per
cent. In Wisconsin %. As per cent Of
the farms and homes are incumberpd,
and Minnesota 27.58 per cent. In the