7i8 AGRICULTURAL ECONOMICS 



The incumbered farms that are cultivated by owners are incum- 

 bered to the extent of 35 . 55 per cent of their value, and the percentage 

 varies among the states and territories from 24 . 23 per cent in Utah 

 to 54 .44 per cent in Mississippi. In 2 states the percentage is greater 

 than 50; in 3 states between 45 and 50; in 14 states and i territory 

 between 40 and 45; in 6 states between 35 and 40; in 18 states and i 

 territory between 30 and 35; and below 30 in 2 states and i territory. 



OBJECTS OF INCUMBRANCE 



Real estate purchase and improvements. The purchase of real 

 estate, uncombined with any other object, induced 60.63 per cent 

 of the farm debtor families to incur 64 .38 per cent of the farm debt; 

 real estate improvements, uncombined with any other object, induced 

 6.79 per cent of these families to incur 4.53 per cent of this debt; 

 and real estate purchasing and improvements, in combination, induced 

 3.98 per cent of these families to incur 5.31 per cent of this debt. 

 Among the geographical divisions the North Atlantic division is the 

 most prominent as having the largest percentages representing the 

 purchase of real estate when uncombined with any other object. 

 The Western division has the lowest percentage for purchase money, 

 standing alone, but it has the highest percentage for real estate 

 improvements, standing alone, namely, 9 . 86 per cent for farm debtor 

 families and 6.36 per cent for farm incumbrance. 



Business. As an Object of farm incumbrance business stands for 

 i .62 per cent of the farm debtor families and i .95 per cent of the 

 farm incumbrance; in the South Atlantic for 4.13 per cent of these 

 families and for 4.73 per cent of this incumbrance; in the Western 

 division for 3 .56 per cent of these families and 3 .84 per cent of this 

 incumbrance; in the South Central division, 2 .43 per cent of families 

 and 4 .84 per cent of incumbrance; North Atlantic division, i . 76 per 

 cent of families and 1.98 per cent of incumbrance; North Central 

 division i .32 per cent of families and i .49 per cent of incumbrance. 



Personal property. The purchase of farm machines, domestic 

 animals, and other personal property accounts for 2.77 per cent of 

 the farm debtor families and 1.19 per cent of the farm debtor incum- 

 brance; from the Western division, with 3.41 per cent of families 

 and i .77 per cent of incumbrance, to the South Central division, with 

 0.92 of i per cent of families and 0.60 of i per cent of incumbrance. 



Farm and family expenses. This is distinctly the "calamity" 

 class, but perhaps every incumbrance that has been admitted to this 



