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Full text of "Extra census bulletin"

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*HA20I . 1^90. A2 



Apr. 139 
Auq . I 3 




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94 



Digitized by the Internet Archive 

in 2010 with funding from 

Boston Public Library 



http://www.archive.org/details/extracensusbulle33unit 



Extra Census Bulletin. 



No. 33. WASHINGTON, D. C. March 14, 1893. 

STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN GEORGIA. 



DEPARTMENT OF THE INTERIOR, 

Census Office, 
"Washington, D. O, March 6, 1893. 
Sib: 

The leading results of the investigation of farm and home proprietorship in Georgia are contained in this 
bulletin. In regard to farms, the conclusion is that 58.10 per cent of the farm families hire and 41.90 per cent own 
the farms cultivated by them ; that 3.38 per cent of the farm owning families own subject to incumbrance and 
96.62 per cent own free of incumbrance. Among 100 farm families, 58 hire their farms, 1 owns with incumbrance, 
and 41 own without incumbrance. On the owned farms of this state there are liens amounting to $1,697,500, which 
is 41.89 per cent of their'value, and this debt bears interest at the average rate of 8.33 per cent, making the average 
annual interest charge $57 to each family. Each owned and incumbered farm, on the average, is worth $1,627, and 
is subject to a debt of $681. 

The corresponding facts for homes are that 79.00 per cent of the home families hire and 21.00 per cent own 
their homes ; that 97.22 per cent of the home owning families own free of incumbrance and 2.78 per cent with 
incumbrance. In 100 home families, on the average, 79 hire their homes, 1 owns with incumbrance, aud 20 own 
without incumbrance. The debt on owned homes aggregates $1,051,754, or 42.59 per cent of their value, and bears 
interest at the average rate of 7.89 per cent, so that the annual amount of interest to each home averages $80. An 
average debt of $1,020 incumbers each home, which has the average value of $2,396. 

There are 7 cities in the state having a population of 8,000 and less than 100,000, and in these cities 80.26 per 
cent of the home families hire and 19.74 per cent own their homes, and 5.46 per cent of the home owning families 
own with incumbrance and 94.54 per cent own free of incumbrance. In 100 home families, on the average, are 
found 80 that hire their homes, 1 that owns with incumbrance, and 19 that own without incumbrance. The liens 
on the owned homes are 39.59 per cent of the value of those subject to lien. Several averages show that the rate 
of interest is 7.71 per cent ; value of each owned and incumbered home, $3,188 ; lien on the same, $1,262, and 
yearly interest charge on each home, $97. 

Eeal estate purchase and improvements, when not associated with other objects, caused 33.60 per cent of the 
farm families of the state to incur 37.00 per cent of the farm debt and 67.71 per cent of the home families to incur 
57.90 per cent of the home debt. 

Very respectfully, 

ROBERT P. PORTER, 

Superintendent of Census. 
The Secretary of the Interior. 



STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN GEORGIA. 



BY GEOBGE K. HOLMES AND JOHN S. LORD. 

Selections from the results of the investigation of farm and home proprietorship and indebtedness in 
Georgia are presented in this bulletin. Every family in the state is regarded as occupying a farm or a home not on 
a farm, and as hiring such farm or home, or owning it free of incumbrance, or owning it subject to incumbrance. 
In the class last named account has been taken of the amount of incumbrance, its rate of interest and object, 
and the value of the farm or home. 

Habitation proprietorship. — Among the 352,059 families of the state there are 241,420, or 68.57 per cent of 
the total, which hire their farms or homes, and 110,639, or 31.43 per cent, which own them. Of the families which 
own, 3,522, or 3.18 per cent, have farm or home incumbrance, and 107,117, or 96.82 per cent, are free of incumbrance. 
In 100 families, on the average, 68.57 hire their farms or homes, 1.00 owns with incumbrance, and 30.43 own without 
incumbrance. 

Farm proprietorship. — There are 175,688 farm families in Georgia, which is 49.90 per cent of the total number 
of families. Of these, 73,607, or 41.90 per cent, own and 102, 0S1, or 58.10 per cent, hire the farms cultivated by them ; 
while 2,491, or 3.38 per cent, of the owning families have incumbrance on their farms and 71,116, or 96.62 per cent, 
have no incumbrance. The average 100 farm families are composed of 58.10 that hire, 1.42 that own with incumbrance, 
and 40.48 that own without incumbrance. 

There is an apparent increase in farm tenancy from 44.85 per cent in 1880 to 58.10 per cent in 1890. The sources 
of the statistics for 1880 and 1890 are not the same, since the figures for 1880 represent farms and those for 1890 
farm families, and any conclusions drawn from a comparison of these 2 years in this respect may be somewhat 
erroneous. 

Home proprietorship. — The 176,371 home families is 50.10 per cent of the families of the state, and are 
divided into the several classes as follows : hiring families, 139,339, or 79.00 per cent of the total number of home 
families; owning families, 37,032, or 21.00 per cent; families owning free of incumbrance, 36,001, or 97.22 per cent 
of the total number owning ; families owning subject to incumbrance, 1,031, or 2.78 per cent of the owning families. 
Of 100 home families, on the average, 79.00 hire their homes, 0.59 of 1 owns with incumbrance, and 20.41 own without 
incumbrance. 

City homes are hired and incumbered in a greater degree than is found outside of cities. In the 7 cities of the 
state having a population of 8,000 and less than 100,000 there are 41,282 home families, of which 33,131, or 80.26 
per cent, hire and 8,151, or 19.74 per cent, own their homes. Homes subject to incumbrance are occupied by 445 
owning families, or 5.46 per cent of the total owning families, and 7,706 families, or 94.54 per cent of the owning 
families, have no home incumbrance. In 100 of these city home families, on the average, 80.26 hire their homes, 
1.08 own with incumbrance, and 18.66 own without incumbrance. 

In the state, outside of the 7 cities referred to. 78.62 per cent of the home families hire and 21.38 per cent 
own their homes ; 2.03 per cent of the home owning families own with incumbrance and 97.97 per cent without 
incumbrance ; while among 100 home families, on the average, 78.62 hire their homes, 0.43 of 1 owns subject to 
incumbrance, and 20.95 own free of incumbrance. 

Value and incumbrance. — Liens amounting to §2,749,254 incumber the 3,522 owned farms and homes of the 
state that are subject to incumbrance, §1,697,500 of which is on 2,491 farms and $1,051,754 on 1,031 homes. The 
value of the incumbered farms and homes is $6,521,663 ; farms, $4,051,892 ; homes, $2,469,771. Katios of debt to 
value: farms and homes, 42.16 per cent; farms, 41.89 per cent; homes, 42.59 per cent. 

A debt of $561,745 incumbers 445 owned homes of the 7 cities containing a population of S,000 and less than 
100,000, and these incumbered homes are worth $1,418,753, so that the debt is 39.59 per cent of the value. The 
debt incumbering the owned homes in the state outside of the 7 cities is 46.62 per cent of the value of the homes 
subject to the incumbrance. 

Average values and incumbrances. — The average owned and incumbered farm of the state is worth $1,627; 
home, $2,396 ; of each home in the 7 cities, $3,188. 

The average farm incumbrance for the state is $681; home, $1,020; home incumbrance in the 7 cities, $1,262. 
33— 2 3 



FARMS, HOMES, AND MORTGAGES. 



Floyd county has homes of the highest average value, namely, $6,790, and the least average value, $100, is in 
Forsyth and Morgan counties. In the state outside of the 7 cities the average home value is $1,794; incumbrance, 
$836. As before stated, all values are confined to incumbered farms and homes occupied by owners. 

Interest rates. — The chief rate of interest in this state is 8 per cent. This rate is paid on 75.86 per cent of 
the farm incumbrance by 71.22 per cent of the farm debtor families; on 79.78 per cent of the home incumbrance by 
81.67 per cent of the home debtor families, and in the 7 cities on 75.65 per cent of the home incumbrance by 82.70 
percent of the families occupying owned and incumbered homes. These percentages are contained in the following 
table, and the facts from which they were computed are exhibited in Table 3: 

PERCENTAGE OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES 
AND OF AMOUNT OF INCUMBRANCE THEREON, BY RATES OF INTEREST. 



THE STATE. 



OF INTEREST. 



For num- 
ber of 
families. 



Under 6 per cent 0.16 

6 per cent | 2.81 

7 per cent j 1.72 

8 per cent \ 71.22 

6 to 8 per cent, inclusive ' 75.83 

Over6percent 97.03 

Over8 per cent 24.01 

Over 10 percent 2.01 

Over 12 percent 0.08 



For 

amount. 



0.12 
2.75 
1.51 

75.86 
80.23 
97.13 
19.65 

1.38 



For num- 
ber of 

families. 



81.67 
89.52 



10.38 
1.26 



For 
amount. 



0.95 
4.10 



93.16 
94.65 



FOR HOMES IN 

CITIES OF 8,000 TO 

100,000 PEOPLE. 



For num- 
ber of 
families. 



3.37 
8.54 
82.70 
94.61 
96.41 
5.17 



1.78 
6.38 
13.00 
75.65 
95.03 
91.84 
3.19 
2.54 



Eates that are less than the principal state rate of 8 per ceut are paid by 4.77 per cent of the farm debtor 
families on 4.49 per cent of the farm debt; by 7.95 per cent of the home debtor families on 14.33 per cent of the 
home debt, and in the 7 cities by 12.13 per cent of the home debtor families on 21.16 per cent of the home debt. 

In the state rates higher than 8 per cent are paid by 24.01 per cent of the farm debtor families on 19.65 per 
cent of the farm debt; by 10.38 per cent of the home debtor families on 5.89 per cent of the home debt, and in the 
7 cities by 5.17 per cent of the home debtor families on 3.19 per cent of the home debt. 

Under the usury laws of Georgia rates of interest have been permitted by legislative acts in the years named 
as high as the following: 1759, 8 per cent; 1845, 7 per cent; 1871, 10 per cent; 1873, no limit, except that national 
banks were limited to 7 per cent by the national currency act; 1875, 12 per cent; 1879, 8 per cent. 

Interest charge and average rates of interest. — The total interest charge for 1 year on the debt 
incumbering the owned farms of the state is $141,382; on the homes, $82,945; total, $224,327. 

The average interest charge for 1 year on each farm is $57; home, $80; on each home in the 7 cities, $97. 

On farm loans the average rate of interest is 8.33 per cent; on home loans, 7.89; on home loans in the 7 
cities, 7.71 per cent. Hence the average annual interest value of each owned and incumbered farm in this state is 
.$136; of each home, $189; of each home in the 7 cities, $246. 

Outside of the 7 cities the average annual interest charge on each home is $68; average rate, 8.08 per cent; 
average annual interest value, $145. 

Objects ok indebtedness. — Investigation of the reasons why farm and home indebtedness was incurred 
discloses the fact that 33.60 per cent of the farm debtor families of the state incurred 37.00 per cent of the farm 
debt for the purpose of buying real estate and making real estate improvements, when these objects were not 
associated with other objects; that for the same objects, in the case of homes, 67.71 per cent of the home debtor 
families incurred 57.90 per cent of the home debt, and in the 7 cities that 79.10 per cent of the home debtor 
families incurred 56.88 per cent of the home debt. 

The objects of real estate purchase and improvements, business, and the purchase of personal property, when 
not complicated with other objects, led 39.74 per cent of the farm debtor families of the state to incur 44.87 per 
cent of the farm debt, 81.00 per cent of the home debtor families to incur 86.46 per cent of the home debt, and 
94.16 per cent of the home debtor families in the 7 cities to incur 92.33 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 44.00 per cent of the farm debtor families of the 
state and 28.35 per cent of the farm debt; family expenses by 12.12 per cent of the home debtor families and 4.98 
per cent of the home debt, and family expenses in the 7 cities by 2.47 per cent of the home debtor families and 
0.73 of 1 per cent of the home debt. 



OWNERSHIP AND DEBT IN GEORGIA. 5 

Table 1.— NUMBER AND PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIKED AND FREE AND INCUMBERED 

FARMS AND HOMES. 























PERCENTAGE OF 


















PERCENTAGE OF 


FAMILIES OWN- 














PERCENTAGE OP 


FAMILIES 


OWNING 


ING FREE AND 








OWNING. 






FAMILIES 


OWNING 


FREE AN 


D INCUM- 


INCUMBERED OF 


CIVIL DIVISION. 


Aggregate. 










AND HIRING. 


BERED OF TOTAL 
OWNING FAMILIES. 


TOTAL OWNING 
AND HIRING FAM- 






















ILIES. 




Total. 


Free. 


Incum- 
bered. 


Owning. 


Hiving. 


Free. 


Incum- 
bered. 


Free. 


Incum- 
bered. 




352,059 


110,639 


107,117 


3,522 


241,420 


31.43 


68.57 


96.82 


3.18 


30.43 










175,688 


73,607 


71,116 


2,491 


102,081 


41.90 


58.10 


96.62 


3.38 


40.48 


1.42 




176,371 


37,032 


36,001 


1,031 


139,339 


21.00 


79.00 


97.22 


2.78 


20.41 










41,282 


8,151 


7,706 


415 


33,131 


19.74 


80.26 


94.54 


5.46 


18.66 


1.08 




1,562 


586 


535 


51 


976 


37.52 


62.48 


91.30 


8.70 


34.25 


3.27 




13,315 


3,009 


2,788 


221 


10,306 


22.60 


77.40 


92.66 


7.34 


20.94 


1.66 




7,449 


1,251 


1,218 


33 


6,198 


16.79 


83.21 


97.36 


2.64 


16.35 


0.44 




1,773 


497 


475 


22 


1,276 


28.03 


71.97 


95.57 


4.43 


26.79 1.24 


Columbus, Muscogee county 


3,650 


657 


636 


21 


2,993 


18.00 


82.00 


96.80 


3.20 


17.42 0.58 




4,525 


694 


654 


40 


3,831 


15.31 


81.66 


94.24 


5.76 


14.45 


0.89 




9,008 
135,089 


1,457 


1,400 


57 


7,551 


16.17 


83.83 


96.09 


3.91 


15.54 


0.63 




28,881 


28,295 


586 


106,208 


21.38 


78.62 


97.97 


2.03 


20.95 


0.43 



Table 2.— VALUE OF FARMS AND HOMES OCCUPIED BY OWNERS AND INCUMBERED 
AND AMOUNT AND PERCENTAGE OF INCUMBRANCE THEREON. 



CIVIL DIVISION. 


Number 

of families 

owning 

witb vame - 
incum- 
brance. 


Incumbrance. 


Per- 
centage 
ofincum- 
brance 
of value. 






$6,521,663 


$2,749,254 


42.16 








2,491 


4,051,892 
2,469,771 


1,697,500 
1,051,754 


41.89 
42.59 








415 


1,418,753 


561,745 


39.59 








38.82 




221 643,239 250,176 '■ 38.89 




22 99,600 53,950 
21 54,050 22,478 
40 143,650 53.910 


54.17 
41.59 
37.53 
31.94 




57 362,220 


115, G95 






490,009 


46.62 









FARMS, HOMES, AND MORTGAGES. 



Table 3.— SUMMARY OF NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS 
AND HOMES AND OF THE INCUMBRANCE THEREON, BY RATES OF INTEREST. 

[Rates of interest represented by mixed numbers are combined into groups ; for instance, rates represented by " 1-2 " per cent 
include ail rates greater than 1 per cent and less than 2 per cent.] 



FOR FARMS. 



RATES OF INTEREST. 



3,522 $2,749,254 



























8-9 . 
9 


...do 

...do 














14 


...do 



10,825 

1,150 

85 

92,854 

119,557 

2,300 

1,126,911 

6,000 

26,969 

320,670 

825 

40,725 



85 

46,605 

25,605 

1,800 

1,237,774 



22,301 
287,883 



FOR HOMES. 



46,249 
93,952 



839,137 
6,000 



FOR HOMES IN CITIES 

OK 8,000 TO 100,000 

PEOPLE. 



35,850 
73,037 



3,628 
14,250 



Table 4.— AMOUNT OF ANNUAL INTEREST CHARGE AND AVERAGE VALUE, INCUMBRANCE, 
ANNUAL INTEREST CHARGE, AND ANNUAL RATE OF INTEREST FOR FARMS AND 
HOMES OCCUPIED BY OWNERS AND INCUMBERED. 



CIVIL DIVISION. 



Average 
value of 
each in- 
cumbered 
farm or 
home. 



Average 
incum- 
brance on 
each 
farm or 
home. 



Total 
annual 
interest 
charge. 



Ayerage 
annual 
interest 

charge 
on each 
farm or 

home. 



rate of 
interest. 



The State 

For farms 

For homes 

Seven cities (for homes) 

Athens, Clarke county 

Atlanta, Fulton county 

Augusta, Richmond county... 

Brunswick, Glynn county 

Columbus, Muscogee county.. 

Macon, Bibb county 

Savannah, Chatham county .. 

Rest of state (for homes) 



1,627 
2,396 



639 
2.911 
2,527 
4,527 
2.574 
3,591 
6,355 

1,794 



2,452 
1,070 
1,348 



141,382 
82,945 



18,340 
4,219 
4,886 
1,765 
4,192