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Full text of "Extra census bulletin"

, /MA20I . 1^90.A2 

cM>......: 

Apr. IB92H 
^ AUC3. IB94 




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Digitized by the Internet Archive 

in 2010 with funding from 

Boston Public Library 



http://www.archive.org/details/extracensusbulle39unit 



Extra Census Bulletin. 



No. 39. v\^ASHlNGTON, D. C. April 4, 1893. 

STATISTICS OF FARMS, HOMES, AND MORTGAGES. 

OWNERSHIP AND DEBT IN SOUTH CAROLINA. 



DEPARTMENT OF THE INTERIOR. 

Census Office, 

Washington, D. C, March 27, 1893. 
Sie: 

The leading results of the investigation of farm and home proprietorship in South Carolina are contained in 
this bulletin. It is expected that no other state will show as high percentages of farm and home tenancy as this 
one does, possibly with the exception of Mississippi and Louisiana, because more than half of the population of 
these 3 states consist of colored people, a large majority of whom seem to have been unable to acquire land 
ownership. 

In regard to farms, the conclusion is that 61.49 per cent of the farm families hire and 38.51 per cent own the 
farms cultivated by them ; that 8.00 per cent of the farm owning families own subject to incumbrance and 92.00 
per cent own free of incumbrance. Among 100 farm families, 62 hire their farms, 3 own with incumbrance, and 
35 without incumbrance. On the owned farms of this state there are liens amounting to $3,363,679, which 
is 50.24 per cent of their value, and this debt bears interest at the average rate of 8.57 per cent, making the 
average annual interest charge S80 to each family. Each owned and incumbered farm, on the average, is worth 
§1,851, and is subject to a debt of $930. 

The corresponding facts for homes are that 82.07 per cent of the home families hire and 17.93 per cent own 
their homes; that of the home owning families 93.57 per cent own free of incumbrance and 6.43 per cent with 
incumbrance. In 100 home families, on the average, 82 hire their homes, 1 owns with incumbrance, and 17 owu 
without incumbrance. The debt on owned homes aggregates $1,342,528, or 46.86 per cent of their value, and bears 
interest at the average rate of 8.17 per cent, so that the annual amount of interest to each home averages $90. An 
average debt of $1,104 incumbers each home, which has the average value of $2,356. 

There are 3 cities in the state in the class of those having a population of 8,000 to 100,000, and in these cities 
78.38 per cent of the home families hire and 21.62 per cent own theu* homes, and of the home owning families 
11.92 per cent own with incumbrance and 88.08 per cent own free of incumbrance. In 100 home families, on the 
average, are found 78 that hire their homes, 3 that own with incumbrance, and 19 that own without incumbrance. 
The liens on the owned homes are 43.56 per cent of the value of those subject to lien. Several averages show that 
the rate of interest is 7.68 per cent; value of each owned and incumbered home, $2,460 ; lien on the same, $1,072, 
and yearly interest charge on each home, $82. 

Real estate purchase and improvements, when not associated with other objects, caused 41.28 per cent of the 
farm families to incur 32.29 per cent of the farm debt and 70.89 per cent of the home families to incur 62.32 per 
cent of the home debt. 

Very respectfully, 

ROBERT P. PORTER, 

SvpcHniendent of Census. 
The Secretary of the Interior. 

C. O. P.-3,500 



STATISTICS OF FARMS, HOMES, A^'D MORTGAGES. 

OWNERSHIP AND DEBT IN SOUTH CAROLINA. 



BY GEORGE K. HOLMES AND JOHN S. LORD. 



Selections from the results of tlie investigation of farm and home proprietorship and indebtedness in 
South Carolina are presented in this bulletin. . Everj' family in the state is regarded as occnpj'ing 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 incumbrance, its rate of interest and object, 
and the value of the farm or home. 

Habitation peopeietorship. — Among the 222,941 families of the state there are 158,800, or 71.2.3 per cent of 
the total, which hire their farms and homes, and 64,141, or 28.77 per cent, which own them. Of the families which 
own, 4,83.3, or 7.53 per cent, have farm or home incumbrance, and 69,308, or 92.47 per cent, are free of incumbrance 
In 100 families, on the average, 71.23 hire their farms or homes, 2.17 own with incumbrance, and 26.60 own without 
incumbrance. 

Faem peopeietoeship. — There are 117,405 farm families in South Carolina, which is 52.66 per cent of the total 
number of families. Of these, 45,218, or 38.51 per cent, own and 72,187, or 61.49 per cent, hire the farms cultivated 
by them, while of the owning families 3,617, or 8.00 per cent, have incumbrance on their farms and 41,601, or 92.00 
per cent, have no incumbrance. The average 100 farm families are composed of 61.49 that hire, 3.08 that own with 
incumbrance, and 35.43 that own without incumbrance. 

In 1880 50.31 per cent of the farms were hired, so that there is an apparent relative increase of farm tenancy 
during the decade ; but the sources of the statistics for 1880 and 1890 are not the same, since the figures for 1880 
repi'esent farms and those for 1890 farm families, and this may somewhat affect the comparison. 

Home proprietorship. — The 105,536 home families is 47.34 per cent of the families of the state, and are 
divided into the several classes as follows : hiring families, 86.613, or 82.07 per cent of the total number of home 
families; owning families, 18,923, or 17.93 per cent; families owning free of incumbrance, 17,707, or 93.57 per cent 
of the total number owning; families owning subject to incumbrance, 1,216, or 6.43 per cent of the owning families. 
Of 100 home families, on the average, 82.07 hire their homes, 1.15 own with incumbrance, and 16.78 own without 
incumbrance. 

City homes are hired in a less degree than is found outside of cities. In the 3 cities of the state having a 
population of 8,000 to 100,000 there are 15,785 home families, of which 12,372, or 78.38 per cent, hire and 3,413, or 
21.62 per cent, own their homes. Homes subject to incumbrance are occupied by 407 owning families, or 11.92 per 
cent of the total owning families, and 3,006 families, or 88.08 per cent of the owning families, have no home 
incumbrance. In 100 of these city home families, on the average, 78.38 hire their homes, 2.58 own witli incumbrance, 
and 19.04 own without incumbrance. 

In the state, outside of the 3 cities referred to, 82.72 per cent of the home families hire and 17.28 per cent 
own their homes; 5.22 per cent of the home owning families own with incumbrance and 94.78 per cent without 
incumbrance ; while among 100 home families, on the average, 82.72 hire their homes, 0.90 of 1 owns subject to 
incumbrance, and 16.38 own free of incumbrance. 

Value and incumbrance. — Liens amounting to $4,706,207 incumber the 4,833 owned farms and homes of the 
state that are subject to incumbrance, $3,363,679 of which is on 3,617 farms and $1,342,528 on 1,216 homes. The 
value of the incumbered farms and homes is $9,560,192 ; farms, $6,695,107 ; homes, $2,865,085. Katios of debt to 
value: farms and homes, 49.23 per cent; farms, 50.24 per cent; homes, 46.86 per cent. 

A debt of $436,102 incumbers 407 owned homes of the 3 cities containing a population of 8,000 to 100,000, and 
these incumbered homes are worth $1,001,248; so that the debt is 43.56 per cent of the value. The debt incumbering 
the owned homes in the state outside of the 3 cities is 48.63 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 $1,851; 
home, $2,356; of each home in the 3 cities, $2,460. 

The average farm incumbrance for the state is $930; home, $1,104; home incumbrance in the 3 cities, $1,072. 
39—2 3 



4 FARMS, HOMES, AND MORTGAGES. 

Aiken county has homes of the highest average value, namely, $6,174, and the least average value, $683, is in 
Horry county. In the state outside of the 3 cities the average home value is $2,304; incumbrance, $1,120. As 
before stated, all values are confined to incumbered farms and homes occupied by owners. 

Interest bates. — The chief rate of interest in this state is 8 per cent. This rate is paid on 55.94 per cent of 
the farm incumbrance by 52.61 per cent of the farm debtor families ; on 54.69 per cent of the home incumbrance 
by 50.99 per cent of the home debtor families; in the 3 cities on 39.52 per cent of the home incumbi-ance by 41.77 
per cent 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 KATES OF INTEREST. 



THE STATE. 



RATES OF INTEREST. 



Under 6 per cent 

6 per cent 

7 per cent 

8 per cent 

6 to 8 per cent, inclu 

Over 6 per cent 

Over 8 per cent 

Over 10 per cent 

Over 12 per cent 



Fornum- 

berof 
families. 



For nunl 

ber of 

families. 



0.03 
0.41 
7.13 
52.61 
60.32 
99,56 
39.65 
0.22 



0.03 

0.66 
8.94 
55.94 
65.76 
99.31 
34.21 
0.27 



0.16 
1.40 
20.48 
50.99 
73.03 
98.44 
26.81 



20.47 
54.69 
77.79 
97.37 
21.94 



FOR HOMES IN 
JITIES OF 8,000 TO 
100,000 PEOPLE. 



For num- 
ber of 
families. 



0.49 
3.69 
34.15 
41.77 
79.61 
95.82 
19.90 



0.82 
6.99 
39.65 
39.52 
86.16 
92.19 
13.02 



Rates that are less than the principal state rate of 8 per cent are paid by 7.74 per cent of the farm debtor 
families on 9.85 per cent of the farm debt; bj' 22.20 per cent of the home debtor families on 23.37 per cent of the 
home debt ; in the 3 cities by 38.33 per cent of the home debtor families on 47.46 per cent of the home debt. 

In the state, rates higher than 8 per cent are paid bj^ 39.65 per cent of the farm debtor families on 34.21 per 
cent of the farm debt; by 26.81 per cent of the home debtor families on 21.94 per cent of the home debt; in the 3 
cities by 19.90 per cent of the home debtor families on 13.02 per cent of the home debt. 

The highest rate reported is 12 per cent, which is paid by 3 farm families on a debt of $7,134. 

The legislature of South Carolina has limited the rate of interest as follows in the years named : 1691, 10 per 
cent; 1748, 8 per cent; 1777, 7 per cent; 1866, no limit, except that under the national currency act, in force June 
3, 1864, national banks were limited to 7 per cent ; 1877, 7 per cent; 1882, 10 per cent; 1890, 8 per cent. 

Interest charge and average rates op interest. — The total interest charge for 1 year on the debt 
incumbering the owned farms of the state is $288,249 ; on the homes, $109,711 ; total, $397,960. 

The average interest charge for 1 year on each farm is $80 ; home, $90 ; on each home in the 3 cities, $82. 

On farm loans the average rate of interest is 8.57 per cent ; on home loans, 8.17 per cent ; on home loans in the 
3 cities, 7.68 per cent. Hence the average annual interest value of each owned and incumbered farm in this state 
is $159 ; of each home, $192 ; of each home in the 3 cities, $189. Outside of the 3 cities the average annual interest 
charge on each home is $94; average rate, 8.41 per cent; average annual interest value, $194. 

Objects of indebtedness. — Investigation of the reasons wliy farm and home indebtedness was incurred 
discloses the fact that 41.28 per cent of the farm debtor families of the state incurred 32.29 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, and that for the same objects, in the case of homes, 70.89 per cent of the home debtor 
families incurred 62.32 per cent of the home debt; in the 3 cities that 79. Gl per cent of the home debtor families 
incurred 74.07 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 43.11 per cent of the farm debtor families of the state to incur 36.57 per 
cent of the farm debt; 77.97 per cent of the home debtor families to incur 78.51 per cent of the home debt; 88.95 per 
cent of the home debtor families in the 3 cities to incur 93.38 per cent of the home debt. 

Farm and family expenses, standing alone, are represented by 42.08 per cent of the farm debtor families of the 
state and 37.30 per cent of the farm debt; family expenses by 13.73 per cent of the home debtor families and 7.53 
per cent of the home debt; family expenses in the 3 cities by 6.88 per cent of the home debtor families and 3.06 per 
cent of the home debt. 



OWNERSHIP AND DEBT IN SOUTH CAROLINA. 



Table 1.— NUMBEK AND PERCENTAGE OF FAMILIES OCCUPYING OWNED AND HIRED AND FREE AND INCUMBERED 

FARMS AND HOMES. 



........... 


Aggregate. 


0....0. 


Hiring-. 


FAMILIES 


OWNING 


PERCENTAGE OF 

FAMILIES OWNING 
FBEE AND INCUM- 

OWNING FAMILIES. 


PERCENTAGE OF 

FREE AND INCUM- 

OWNING AND 
HIEING FAMILIES. 




Total. 


Free. 


Incum- 
bered. 


Owning. 


Hiring. 


Free. 


Incum- 
bered. 


*^'^^- ! bered. 




222,941 


64,141 


59,308 


4,833 


: 158,800 


28.77 


71.23 


92.47 


7.53 


26.60 i 2.17 








117,405 
105,536 


45,218 
18,923 


41,601 
17,707 


3,617 
1,216 


72,187 
86,613 


38.51 
17.93 


61.49 
82.07 


j 92.00 
93.57 


8.00 
6.43 


35.43 
16.78 


3.08 




1.15 






Three cities (for homes) 


15,785 


3,413 


3,006 


407 


12,372 


21.62 


78.38 


88.08 


11.92 


19.04 


2.58 


Charleston, Charleston county 


11,086 
2,919 
1,780 


2,153 
719 
541 


1,927 
629 
450 


226 
90 
91 


8,933 
2,200 
1,239 


19.42 
24.63 
30.39 


80.58 
75.37 
69.61 


89.50 
; 87.48 
j 83.18 


10.50 
12.52 
16.82 


17.38 
21.55 
25.28 


2,04 
3.08 


Greenville, Greenville county 


5.11 




89,751 


15,510 


14,701 


809 


74,241 


17.28 


82.72 


94.78 


5.22 


16.38 


0.90 








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



CIVIL DIVISIONS. 


Number of 
families 
owning 

with incum- 
brance. 


Value. 


Incum- 
brance. 


Percent- 
age of 

brance of 
value. 


The State 


4,833 


$9,560,192 


$4,706,207 


49.23 


For farms 


3,617 
1,216 


6,695,107 
2,865,085 


3,363,679 


50.24 
46.86 








407 


1,001,248 


436,102 43.56 




226 
90 
91 




40.87 
53.13 
38.79 




255,650 
214,220 


135,821 
83,099 






809 


1,863,837 


906,426 


48.63 





FARMS, HOMES, AND MORTGAGES. 



T\BLE 3.— NUMBER OF FAMILIES OCCUPYING OWNED AND INCUMBERED FARMS AND HOMES AND 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 all rates greater than 1 per 

cent and less than 2 per cent.] 





BATES OP INTEREST. 






THE 


STATE. 






FOR HOMES IN CITIES 

OF 8,000 TO 100,000 

PEOPLE. 




TOTAL. 


FOR 


FARMS. 




HOMES. 




Number 

of 
families. 


Incum- 
brance. 


Number 

of 
families. 


Incum- 
brance. 


Number 

of 
families. 


Incum- 
brance. 


Number 

Of 1 J,"™-"- 
families. ' brance. 






4,833 


$4,706,207 


3,617 


$3,363,679 


1,216 


81,342,528 


407 


$436,102 








3-4 
4 

5 


1 

1 

1 

32 

507 

8 

2,523 

8 

23 

2 

1,719 

5 

3 


900 

600 

3,000 

54,031 

575,492 

11,256 

2,615,685 

11,661 

38,047 

1,675 

1,384,776 

1,950 

7,134 


1 


900 












1 

1 
17 
249 

620 


600 

3,000 

31,693 

274,777 

3,677 

734,194 


1 ' 600 






1 3,000 




15 

258 

6 

1,903 

8 

17 

2 

1,399 

5 

3 


22,338 

300,715 

7,579 

1,881,491 

11,661 

30,847 

1,675 

1,097,389 

1,950 

7,134 


15 30,493 






139 1 172,914 


7-8 




1 




170 172,332 


8-9 








6 


7,200 


3 I 6,550 


9-10 








320 


287,387 


78 ' 50,213 


11 
12 








1 




! 













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. 



Average | Average ^ 
, value of 1 incum- Total 
' each in- ! brance on annual 
CIVIL DIVISIONS. cumbered! each | interest 
farm or | farm or ■ charge, 
home. home, i 


Average 
annual 

interest 
charge 

on each 

farm or 
home. 


Average 
annual 
rate of 

interest. 




$1,978 

1,851 
2,386 


$974 

930 
1,104 


8397,960 


$82 

80 
SO 


8.46 

8.57 
8.17 




288,249 
109,711 






2,460 

2,351 
2,841 
2,354 

2,304 


1,072 

961 

1,509 

913 

1,120 


33,504 


82 

68 
128 
74 

94 


7.68 

7.05 
8.45 
8.08 

8.41 




15,307 
11,479 
6,718 




Greenville, Greenville county 


76,207 





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