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Farm Mortgage Meaning

Farm Mortgage Meaning image
Parent Issue
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OCR Text

Froan tibie stattetice of the 1890 cessus, valuable data have been derived about farm mortgnges, and ïïdward Atkiaison in tihe May Forum has a most excellent article on the true menning of fann-mortgage trtatistics. As agricultura gives employment to one-half our population its importance is immense. Th ere are In the U. S. 4,564,641 farms, avei-nging 137 acres eaeh. Eighty per cent. of them are occupied and mnnaged by tlieir oivn awaiare. Over one-half of these farms havo aio mortgnges wn them, white the balance are onortga-ged for less fchiam 50 per cent of their value. The average farm mortgage is $959, wltll 118 aeres in the average mortgages farm. Of the money borrowed 77 per cent.' was ior the parchase or im])rovement of land. The statlstlcfi of twenrytv states, mostly the older ones, stoow that out of every 100 farms, 82 are liircil ; -17 are occupied by (iwners {ree (if i.ncumlu-ance and only 21 are, occupied by owners onder a mortgage. The eir.-umbranee on hired farms. Ifi wvy small. In this coiiiieciiiin the data fo Michigan íarm mortgagee for 1888 is iutéreettog. Out al 90,803 farms Usted about omfe-üial! were found mortgaged. These were estómated to le l $100,000,000, tu-i-ordiiiii to bas Bsmenit, euoá y. i -i for .: ]ie-Uiird tileir . {or we know t!i;it supen asuaüy Ienáieal In aa3essing mortgaged oiviii'r:-. :-'::'■ then the labor show in our state a coniii ol debte. In Miai oanmtssloner of labor svrites lm November 1893, Li es ■■■■: mortgage toreeHosures ■ 80 per cent. better than U en 3 ears ag k" AVilli 1li : i ;n -.y be seeu the popultete are goiag to have hard WTestUng, snic stock liitrade is ihe O'pposition of the farmer. Wlieu it is Bhowm i!iat as a cSass the farmer is as well üioused. as well fed, ns proeperoue a.s aaiy otlier class, the demagoguiea who Dive 00 oalamity howling íor i-evenue only, will find ihrni-cives -levuiil of listetuers. É It .might be interest ing to have Attorney (Hiural Ellis give an opinión of tli o tweive "good men and trae," who are to decide, "trom the eviden.ce" whether lie really is a criminal or uot. Congress lias been in session now for maiiy. many ninnths, and the coadltion of the country has not hnproved luit on the contra ry has mul iimed in a perilous state. There la one way to help the people arad restore prosperity uah aa we liad in the good old repubUceun days, and that is tor eongress to jiass a resolution Btating that the Mc-Kkiley act is In the interests of the people, therefore it Is the duty of conigress to continue it as the wteest tariff measure ever enacted by auy eongrefifi. Tlien adjouru and rush hiome to the anns of their admiring constituents. Herny Olew dn lii.s last weekly IIaancial io' iew says . Wall st. still fcakes ooanplaceatly to th largo mul unant.icipated outilow of gold to Kurope. TJie total amoani sliipped Kint-e the movement set in is over $40,000,000. It is not to be regarded as an entircly natural excjiangemovement ; and so as we do nol need the metal for monetary uses but are ratlier burthened it as a superfluity, its loss is vlewed as no special matter ior regret. Xext week, Austria starts the reeumptioai of gold payments ; and these exporta are niaialy incident to tliat event ; ior, alt-hough ilie gold had been long contracted ior, yet the bankers nnilertaking tlie engagement liad mot nntil now delivered the entire supply. It ie sometliiiug of which Aüiieric-ajis (may be proud that they caai contribute a large portion of tdie gold required for that great o])crat.ion witJiout feeling a ripple of monetary disturbance, and without inourring the least disconifort in its LnTestmient markets. Tivere is no other fina-neial center in the world that could havO eudured such a dra.ia without suffering the ncutest kind of deraiigement. The quiet nnd silence wdth which this extrairdinary contribut.ton to the rehabiilitatiou of the finalices of a great nation has been effected, ob a etriking expression of the rc-nuree of the country about whose fate .aiid financial ananagement European censors are no superciliously critlcal. We have, inoreover, the satiianioiL öl kBOWlng that we have parted with no more tlian we can easily afford to dispense with; and it ís a safe, and reasonablis assumption that, it' under any future conditious, we should need the return oí some part of this gold, the power of resource tliat has enabled us to contribute it will ompower usto reclaim it. In the absence of any adverse normal conditlons of exchange nnd the, wants of Austria having been presumably satisfied, it is reasonable to expect that the export will now eteadily cease.


Old News
Ann Arbor Courier