The Forum Volume 10 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 edition. Excerpt: ...are now pending. Twenty-three renters, 3 unmortgaged, and 41 mortgaged farms; debt $32,425. This township is heavily in debt, largely on chattel security. From one to three mortgages a week are foreclosed, and several just pay their interest and live, to say nothing of the principal. A member of our alliance says that at the county seat the clerk of the District Court stated that there were 1,100 foreclosures on the docket, and that the judge and the lawyers were staying them, on account of the injury they would do the county, and also to give the government a chance to help the farmers out. Ten renters, and 5 mortgaged farms; debt $3,900. The rest of the land in our district belongs to eastern capitalists, most of it being taken on mortgages. Forty-four renters; 7 unmortgaged, and 27 mortgaged farms. The foreclosures in our county are 400 annually, and perhaps as many more farms are deeded without foreclosure. I do not think one half are keeping the interest paid. All of the eighty-two reports are of like tenor with the above. N ot one of them presents a hopeful view of the condition of the farmers. In only one of them did the number of unmortgaged farms exceed or equal that of the mortgaged, and it is but fair to draw attention to that exceptional case. It is as follows: Three renters; 14 unmortgaged, and 10 mortgaged farms; debt $10,625. About one half of those that are not mortgaged have not proved up yet. It is doubtful if three of those whose farms are mortgaged can redeem their property. By close management and hard work the rest of us may pay up. Other reports state that money was borrowed at 2 per cent. per month to pay interest. The conclusion...