Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1913-06-13
FRIDAY, JUNE 1s, 1873

could be brought into use. Imple-
ments and machinery with which to
improve the land must be purchased
and power to this purpose must be
supplied. The new land must be equip
ped in order that 1t may be cultiyat-
ed. The demand, therefore, Is for
labor, power, and equipment with
which to improve and develop the
land, and also labor, power. and equip
ment with which to operate the land
after 1t has been improved. - -,
"But you ask, WHAT security can be
given% The, reply Is, The farm prop
erty itself can be pledged to adyan-
tage.' II the farm property could be
pledged to advantage In time OF need
(1) without months Of delay, Cd
without = great cost for, negotiating
!, loans, (3) WITHOUT having to pay such
high rates of interest and (4 with
the privilege Of paying of the debt
at the first opportunity, 1t would be
of great advantage to the people Of the
United States as a whole.
According to the latest census re-
ports, the value OF farm land Qnclud-
ing rarm buildings} was $34, SCI, ,f26, >
697 for the United States in 1910.
while the value of the same class Of
properly i'm WISCONSIN was S2,201.632,-
| 723. The average value OF the class OF
property per acre Of land In farms,
was Sg9.6ozfor the United States as
a whole, and s67.06 for the state Of
Wisconsin; While the average size Of
farms vas 1881 acres for the United
States as whole. and 1lS.s acres for
| WISCONSIN. Thus the average value
per farm was S5,471 for the United
States as whole, as compared to
$6,784 for Wisconsin. ali,s ,st ,,;,,,s
/ THE advantages OF q good mort
gage system are many and the first
deman Is for an improved land mort
gage 81 stem. II farmers could secure
smaller amounts Of money for shorter
periods OF time at, lower rates OF In
terest, with land (inciuding buildings)
as security, not only Sroulf tenancy. be
lreduced, but farmers would more
rapidly drain the wet places, remove
lstumps, carry away the stones, clear
the brush away and bring into bear
ing much of the land now In farms
but unAmproved. This ls really the first
pressing problem. But lower rates Of
interest cannot be expected until land
titles have been perfected and land
surveys have definitely established
the country where land titles have
been thoroughly established and where
there are no further disputes con-
cernini, boundaries, where, the abb
stracts Of titles have been brought up
to-date and are accepted by land
mortgag &c companies, savings, insti-
tutions and lenders generally, farmers
are able to borrow money at or 8
per, cent at the present time,
'.It will, therefore, be necessary
first, to thoroughly establish present
titles and boundarieaL,f This can be
done best by passing laws In the sew
eral stttes providing Tor q modern or
twentieth century method OF land
title Registration. Il suggest sys-
tenn modelled after the Torrens sys-
for many decades In the various Aug
tralian and Canadian provinces and
different European countries, and to
some extent by American states, and
which has been accepted by the ma
tional government for the Philippine
Islands. efAs q result of the first step,
lower rates Of interest would be secur-
ed, less time would be wasted looking
UP titles and verifying abstracts, and
less expense would be- incurred In me-
| gotiating loans. Here, then. is saw
ing In both time and money. se5,t
But 1t Is even more important that
the farmers be placed In q position 50
that they may borrow smaller amounts
Of money for shorter periods OF time
with real estate as security, The mort
gage system Is used almost entirely
by yorng farmers who wish to buy
their first piece Of lard and heye only
q small amount of money with which
to make. first payment. or by estab-
lished farmers who desire to buy more
land, improve more land. build more
buildings or better equip their farms.
/ This should be encouraged and the
system improved and extended. ~
"In order to secure smaller
amounts Of money for shorter periods
Of time for these purposes, It may be
advantageous for farmers to- form
Land Mortgage associations"