154 THE PIEDMONT REGION. 



far that a larger amount of supplies is being produced at home, and a 

 larger number of purchases for cash are being made by farmers since 

 1876. On the other hand, the number of farms having largely increased 

 in the same period, the number working on advances, especially among 

 the smaller farmers, has largely increased also. The records of the courts 

 show that the number of liens on the growing crop is greatly on the in- 

 crease ; the rate of increase being twenty-three per cent, per annum for 

 the last two years. The number of such liens on record in eleven of the 

 counties under consideration is (there being no return from Union) 30,205 ; 

 a number nearly equal to the number of farms, but as two or more liens 

 are not unfrequently recorded against the same crop, probably not more 

 than one-half of the growing crops are under lien. The aggregate value 

 of these liens is $2,334,956 ; an average to the lien of seventy-seven dol- 

 lars. It appears that. the five counties lowest in the ratio of farm produc- 

 tions to farm values have a larger amount in liens, by thirteen per cent., 

 than the five counties standing highest in this ratio. In the former the 

 recorded indebtedness is four dollars and twenty-eight cents for each acre 

 in cotton, on which crop alone liens are taken; in the latter it is two dol- 

 lars and eighty-four cents per acre in cotton. As may be inferred from 

 the number and average amount of these liens, they are mostly taken 

 from the smaller farms, usually renters, for advances made by the land- 

 lord, or more frequently by the store keeper. There has grown up in 

 this region a system of banks at the county seats, for the accommodation 

 of farmers. The National Bank of jSTewberry was the first to be estab- 

 lished ; under the excellent and judicious management of its president, 

 Robert L. JNIcCaughrin, the operations of this bank have added largely to 

 the prosperity and independence of this county ; which, besides leading 

 in cotton production in proportion to its area, is, in man}^ other regards, 

 the most thriving in the region. The capital of this bank, $150,000, was 

 subscribed by the citizens of the county, except $12,000, and ninety-five 

 per cent, of the stock, which is at thirty per cent, premium, and not for 

 sale, is now held within the county. It has six hundred and fifty-four 

 accounts, three-fourths of which are with farmers. These accounts vary 

 in amount, from forty dollars upwards ; only sixty-five of them, however, 

 reach or exceed $1,000. Since 1872, the rate of discount has been 

 from twelve to seven per cent., or from one-half to one-third of the 

 average rates prevailing elsewhere in the State. The loans during the 

 crop season aggregate $324,000, and the doubtful debts for the operations 

 of the last ten years do not reach in all $6,000. Loans are made purely 

 on personal security or on collaterals, liens and mortgages are not asked 

 for or given. If there is a question as to the abihty of the party seeking 

 accommodation to meet his payments promptly, he is required to obtain 



