Excerpt from Statistics of Farms, Homes, and Mortgages: Additional Results for Alabama, Illinois, Iowa, Kansas, and Tennessee

For the more intelligent understanding of the investigation of mortgage indebtedness, some further results for the 5. States, Alabama, Illinois, Iowa, Kansas, and Tennessee, the bulletins for which have been published, are herewith presented, most of them being now published for the first time. The grand aggregate of real estate mortgaging done in these 5 states during the decade beginning with 1880 and ending with 1889, as shown in Table 1, is represented by mortgages, made to secure a debt of 7, a little more than half of which had been paid January 1, 1890, which is the date of this investigation. The smallest amount of debt incurred in any one year was in 1880, which is the total of mortgages, and the largest yearly amount was in 1887, the total of mortgages. AS far as these states are concerned, 1887 was a climax year for mortgaging, from which year there was a decline to in 1888, after which there was an increase to in 1889.

The country was recovering from extreme financial depression in 1879, and during the moderate revival of business, which lasted until 1882, the amount of mortgage debt incurred annually in these states increased per cent from 1880 to 1881 and per cent from 1881 to 1882. The return of depression was accompanied by a diminished increase in the annual indebtedness, the percentage being from 1882 to 1883, from 1883 to 1884, and from 1884 to 1885. Again the tide of business turned, and with its revival the annually incurred mortgage debt increased per cent from 1885 to 1886 and per cent from 1886 to 1887. These coincidences will be noticed on examination of Table 1. From 1887 to 1888 the decrease was per cent, and there was an increase of per cent from 1888 to 1889. Passing over the climax year 1887, the increase from 1886 to_1888 is found to be per cent. From 1880 to 1889 the increase in amount was per cent and in number of mortgages per cent.

The population of Alabama is a gain of per cent over the population of 1880; of Illinois, a gain of per cent; of Iowa, a gain Of per cent; of Kansas, a gain of per cent, and of Tennessee, a gain of per cent over 1880.

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