Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1913-06-18

OF H'I Nbhh'H VI '"'ff ~ ''"N wv
1880.
The work Of the census bureau
rhoWs that This mortgage Indebted
ness. Is in nearly all cases incurred
on account Of the unpaid portion oi
the purchase price ~ the farm. IN
Texas on account Of the vast and
rapid Increase in farm values. this
constitutes the best class Of security
Tor such debts IN many cases th'
debt represents money expended for
additional land or Tor buildings and
other equipment
Texas Has i17.77O Farmers
ia Texas the total number Oi
farmers is u7.770. by FAR the great
eat number IN any state. the next
nearest In point OF number beihr
Georgia with 2si.027 TURNER'S The
smallest number o. farmers Is w
the District Of Columbia where
there are 2l7 persons engaged IN
agricultural pursuits or the total
number 10 Texas 1853 own their
farms 2l9.575 are tenants and
23I2 are managers White farmers
ln Texas number 3ts.sss, foreign
born farmer 2s .sGi. negro aud 9th
~ nou-Wbite farmers, Ga.bls.
The census figures show that ir
the south ns % whole the value oil
land and buildings Of farms operated
uy white farmers increased l22b per
cent ln the ten years from 1900 "a
1910. while the increase Tor farms
operated by negroes Tor the sam'
period was 1867 per cent. sh0winp
the advance made by the negro ~
thrift ana industry. IN the division
OF states. however. IN which Texas r.
embraced the increase Waa much
higher for farms Of white OPERATOR
than for farms of negroes.
There vas q marked inceaso 10
the number Of tenant farmers ~
the south. both white and black, be.
tween 1900 and 1910 Anotehr no.
table feature Of this census report b
that bon the same period the total I'm
proved acreage. and the value OF
land ana buildings increased more
rapidly for tenant farms than foi
farms operated hy owners. Will" IA,
nppn. iie was true ~ farms operated
Boy NEGROES
Valued at st.Si3 @os, 800
The total acreage Of Texas lands in
farms of whites aud blacks ~ l2a..
tuT.uII. of which the improved lands
Aggregate "a. 500. CCG acres with q
total valuation Of $3.50. 2oS .395.
.Thi valuation covers land and build
uRs Of farms
Onc-third OF this enormous yalua-
ton. as already shown above. is mort.
gagcd making u debt Of approximate
~ SCit402. 7Ys upon which the
farmers ~ the state are paying inter.
est The Interest charges on this at
the prevailing rate Of about eight
per cent per annum amounts to fia.-
.l52.223. This IL the charge II only
the straight rate is charged, but IN
many instances bonuses are paid in
order To procure loans and these
bonuses add from one To three per
cent To the rate
" II were possible for these Texas
farmers 10 borrow money AZ a lower
rate of interest, say ~ from five and
onc-half TO six ana one-half per cent
"a saving Of many million of dollars
would be- borrowed for the purpose %.
developing the fertile lands nov
awaiting development. That "a low.
or rate of interest In Texas IL pos.
sible and that there are hundreds on
millions awaiting the opportunity for
Investment In the splendid securities
in this state the farmers and citizens
generally should know.
II the interest rate can be- reduced
the farmers OF Texas will have mil.
lions, on the basis. ever of their
present outstanding Indebtedness "a
invest In development of land For
instance. II the rate Il reduced "a
six and one-half per cent on the
present outstanding debts a saving OF
s|a.2IG.0i1 on the interest payments
which are now fi9.152.223. would
be made With a rate Of six per
cent. the saving would be- Sl2.2SS.
.O5a and II the rate should come
down TO five aud one-half per cent.
which is the rate In many states.
there would be- a saving OF $1,000 f..
U6s 10 the farmers OF Texas.
Such q saving looks worth while.
and the money would be- available
for purchase aud development of new
farms and the addition to the wealth
aud earning power OF the resources
OF the great state of Texas
Obstacles IN the Way
The obstacle In the way Of sayins
GO least q million dollars a year to
the farmers Is a Law which compels
foreign life insurnoe companies do
ing business IN this state 10 invest
three fourths OF the . YES accru-
ing from their Texas policies In rea.
estate securities OF the state. II the
compulsory feature Of this law were
removed and the way opened through
"a graduated tax plan for these great
insurance companies with an aggre.
gate of more than 3 billions of as.
sets. 10 come IN and make invest.
ments. loans 10 the amount OF tar
more than three fourths OF their
Texas reserves would be- made. the
interest rate would be IOWpredd