Rensselaer Republican, Volume 25, Number 37, Rensselaer, Jasper County, 11 May 1893 — WESTERN FARM MORTGAGES. [ARTICLE]

WESTERN FARM MORTGAGES.

Edward Atkinson, a recognized authority on financial questions, in the course of an interview at New York. Thursday, saldi t'Four or five years ago the first complete investigation of farm mortgages was made by the commission of labor statistics in Michigan. It related to more than one-haU tlm farms of the State. It showed that of the farms investigated more than one-half were free of any mortgages whatever, and tho other half, were mortgaged to less than one-third their value. In other words, as nearly a* I can recall the figure of that date, ihe total farm mortgage of Michigan was less than 23 per cent, of the value of the farm lands. Subsequently an appropriation of $1,000,000 was obtained to secure census statistics upon this subject. The duty was put upon Mr. Goorge H. Holmes, of Washington, and Mr. John S. Lord, of Illinois, two of the most, thoroughly competent men irt the country. Their investigatloas are based upon actual records, and they have been completed to a sufficient extent to prove tho following facts: Complete returns of lowa and Montana have been priblishled, and nearly complete , returns 61 Ohio. Illinois, Kansas and Nebraska, corrasponding substantially to the published statements. The general result of the investigation Is as, follows: “More than one-half of the western farms are free of any mortgage of any kind. Less than one-half are subject to mortgage. The amount of the mortgages, taken as a whole, Is less than one-half of the mortgaged land. ;Half the money loaned on mortgages has been, loaned by citizens of the same State In which the mortgaged rarms are. The indebtedness of mortgages of western farmers to eastern capitalists, or others who do not dwell in the same States, Is less thats 12W per cent, of the tru6 value of the-farm lands in the States named.” , ■ . . . .

Arrangemfents are now being perfected at the State Department for the reception and entertainment of the Infanta Eulalia, the royal representative of the Spanish Government .aj. tho.WqiM’s Fair. Captain Davis, of the Navy, who nas been detailed to doty'as escort to her Royal Highness during her sojourn ip Hjl6(*)Un-‘ try,h*diaß'l»to'Yiew with, thA It.is proposed to show special honor on thli Vfslt&r as she Is thq first of ( a royki faffllfy 'visited the united States % : fdvltall6n of Congress."'Bho'ls: (lOw bn ltoSway toCbba, and wilt mike thL* hduifrom there; pr .New Mork onuH Spgpiyh .wwK»Lw F <HP r !''h, isexpop^to IttniknlrfriY^rrisiM-wfa: elected. WBdnesifaythe l 'owo ''tom. 'XDißdery toh tlicv'ttiiUtory endtirAof Ibe* Loyatl Lefeton iff tins UMtod .atotes .CJmm*«W>(or yearv Major Sh-6?fe WeW;&fy'all felted.' TRe'ahhjiil edUyed at night by nearly oetopanlOhst Gfen. Lbw Wallapo Was ' OpN'OC'Jhe speakers, and told ftfitße. defense of Cincinnati against Kirby Smith's lorce .