The farmers' union. (Memphis, Mo.) 1891-1895, 1894-08-30
MORT GAGE INDEBTEDNESS.

Tabulation OF the real estate mort
gage statistics collected by the Census
Office for the whole United States dur
ing the last decade is now completed
and..an extra bulletin has just been is
sued by Carroll D. Wright, snperin,en-
dent of the census, comprising fifteen
tables, which gives the chief results
Of the investigation.
The first table points out quite
clearly one of the principal reasons
for the ':hard times from which the
country is now suffering 1t exhibits
the real estate mortgage movement
in the various States and Territories,
with a summary for the United States
during the ten years lsSO-1SS9. Dur
ing that time 9,517,757 real estate
mortgages, stating amount Of debt
incurred, were made in the United
States, representing an incurred
Indebtedness of $12.O94, ,877, 1913. The
number increased from 643. 143 in
1880 to ,226, 323 in 1889 or 9O.68
per cent, and the yearly incurred in
debtedness increased from $71O,S88,-
5O4 in 1880 to 81, ,75t, ,563, ,274 in 1889
or 1853 per cent.
With regard to mortgages on acre
tracts, the number made during the
ten years was 4,747,07S, representing
an incurred indebtedness of 1885,
III, 112. The number of these mort
cages made in 1880 was 37O,984; 10
1889, 525, ,O94, an increase Of ~. 81
per cent; While the incurred indebted
ness increased from $342, $685. ,477 10
1880 to $685., 729,7l9 in 1889, an IN
crease of 7O.9a per cent.
The increase was relatively larger
in the case of mortgages on lots.
They numbered 4,77O, ,GG9 during the
last ten years, and the Indebtedness
incurred under them amounted to
81, 3, 1873, 1OG,6Sl. From 1880 to 1889
the annual number made increased
from 272, $50 to 7O1 ,223, an increase
of 157 IS per cent. During the same
time the amount OF annual indebted
ness incurred increased from 1868
22,O27 to 81 ,1G6, ,s3s. .555, an increase
Of 2l68O per cent.
During the decade 622 ,855, ,O91
acres were covered by 4,73s ,2Gs mort
cages stating and not stating the
amount Of indebtnessed incurred under
them; the number of acres covered
by mortgage in 1880 was fl, ,743,Ol3;
in 1888, 7O,47S ,237 in increase of
65.3C per cent.
in case of lots covered by mort
gage the increase from 1880 to 1889
was 1925 per cent. the number Gov
cred by mortgages stating and not
stating amount of Indebtedness ia the
former year being .229, ,955; in the lat
ter year, 1882, 1874.
MORTGAGE INDEBTEDNESS OF SIX Bill
LIONS.
At the end of the decade, January
l, 1890, tue real estate mortgage in
debtedness amounted to $6,O19,673,-
9S5, represented by 4,777.G9s mort
cages. These mortgages are divided
Into two classes, as follows; mortgag-
es ou acres, 1908. 143, OBJ; mortgages
on lots, 2.4s4, ,637, amount of indebt-
edness, $3.50, ,53l ,554. Number of
acres covered by existing mortgages,
273 ,352 1O9; number of lots, 4,161,-
l3S.
1t is compn.ed that the average
lie Of mortgage in the United
States is 1850 years; Of q mortgage
on lots, 4,740 years. The longer life
in the case of both classes of mort
cages is found in New England,
New York and New Jersey, the short
or life in the South and the newly
settled regions west of the mississippi
River
Since mortgages in force were
made l2.6S per cent Of the original
amount of Indebtedness incurred un-
der them has been extinguished by
partial payments; in the case Of mort
cages on acres. ll.67 per cent: on
j 4 .. n