The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1912-11-14
FARM MORTGAGES GROW
IN NUMBERS
Which Does Not Mean the Farmers Are
Growing Poor.

Statistics with reference 10 mortgage
indebtedness of the farms of the Gni-
ted States are given in report soon
to be issued by Director Durand of the
Bureau of the Census, Department of
Commerce and Labor. The report was
prepared under the supervision Of
John Lee Coulter, Expert Special
Agent for Agriculture.
The total number OF farms in the
United States operated BY their own
ers. which We're mortgaged in 1910 is
32743S; while 1921. 2S3 We're report
ed as free from mortgage These fig
ures show an increase since 1900 of
III per cent in the number of farms
mortgaged and of A per cent. in
the number of farms free from mort
gage The report will show that S.
104 farms were operated by managers
"a decrease of II per cent since
1900, and 2,354,676 farms were operat-
ed by tentants, an increase of 1863 per
cent There was thus during the 20
years marked diminution in the rela-
tive Importance of mortgage debt on
the fact of mortgage Indebtedness is
secured for farms operated by tentants
or hired managers. 1t would be prac-
tically impossible in many cases to
reach the owners of such farms to as
certain the facts
The total value of the land and
buildings of the l,006,5ll farms for
indebtedness and its amounts were re-
ported was $3.50, 100000. and the
amount of debt was $1,726. 100000 or
27.3 per cent of the value. The cor
responding proportion in 1890 shown
in the reports was $50 per cent.
There can be no question but that
American farmers generally were
more prosperous in 1910 than at the
two previous censuses and vet in
that year a larger proportion of the
farms were mortgaged. The proper
ton of mortgaged Indebtedness is
higher in Iowa and Wisconsin than in
any of the other states and yet these
states are among the most prosper
Gus in agriculture Although in some
cases MORTGAGES are placed on farms
because Of poor crops or other mis-
fortunes or because of mismanage-
ment, they often represent an unpaid
portion of the cost Of the farm itself,
land or for buildings and nipple
ments and machinery and live stock.
In the United States as whole
the number of farms or farm houses
operated or occupied by their own
ers. which were free from mortgage
increased much less rapidly during
each of the last two census decades
than the number mortgaged. The
proportion mortgagcd was 2S.2 per
cent In 1890, 311 per cent. in 1900,
and 1876 per cent. in 1910. In 1910
the proportion of owned farms mort
gagged was highest (4G1 per cent? il
the West North Central; the lowest
proportions dS.S per cent. 81 per
cent, and EOS per cent, respectively
being in the So Atlantic. Ea. So. Cen
trail and Mountain divisions.
In every geographic division e.
eept the Middle Atlantic the proper
ton of farms mortgaged was greater
in 1910 than in 1900, and in every di-
vision except the West North Central
the proportion was greater in 1910
than in 1890 The most conspicuous
increase in proportion Of farms mort
gagged has been in the three southern
divisions. In 1910 there WAS no very
great difference among the several
geographic divisions with respect To
the ratio of indebtedness to the value
OF land and buildings, the highest
ratio being 345 per cent. in the Mid.
die Atlantic division and the lowest,
pa per cent. in the Pacific division.
In every division the ratio of indebt-
edness to value was materially lower
than in 1890