INTEREST RATES ON SHORT-TIME FARM LOANS. 3 



these factors may be noted in a comparison of the district averages 

 for the cost of short-time loans as shown in the table below. The 

 rapid rise in interest rates as one proceeds westward within the 

 States of Kansas, Nebraska, South Dakota, and North Dakota 

 illustrates clearly the effect of diminishing rainfall. The fact that 

 the rates are lower in northern Illinois than in the southern part of 

 the State is accounted for partly as the indirect effect of soil condi- 

 tions, while the lower rates prevaiUng in the northwestern part of 

 Minnesota (the valley of the Red River of the North) in contrast with 

 those existing in the north-central part of the same State are indi- 

 rectly explained as the effect of the soil and contour conditions of 

 these regions. 



While the effect of natural conditions on existing interest rates is 

 thus apparent, and while the natural conditions themselves appear 

 to be relatively permanent, it does not necessarily follow that mterest 

 rates must continue to vary to the extent shown in the table. For 

 the disadvantages of certain natural conditions have been offset in 

 some measure in certain regions by the adoption of farming methods 

 and practices adapted to the given conditions. It is beUeved that, 

 as a result of continued study and experiment, there may be further 

 improvement of this character in regions where natural conditions 

 are relatively unfavorable. 



Loans to farmers on personal security — Avei'age rates for interest and for total cost, by 



States and districts. 



fJeographic division, State, 

 and district. 



Loans on personal 

 security. 



Geographic division, State, 

 and district. 



Loans on personal 

 security. 



Average 



interest 



rate. 



Average 

 total 

 cost.' 



Average 



interest 



rate. 



Average 

 total 

 cost.' 



NEW ENGLAND. 



6. .5 

 6.0 

 5.9 

 6.0 

 6.1 

 5.9 



o.'J 

 5.8 

 6.0 

 6.0 

 5.9 

 5.9 

 0.0 

 6.0 

 6.0 

 5.8 

 .5.9 

 6.1 

 6.0 

 .5.9 

 6.0 



7.7 

 6.4 

 6.4 

 6.5 

 7.1 

 6.2 



7.0 



6. 5 

 6. 6 

 7.3 

 6.5 



7. ! 

 7.1 

 7.2 

 7.1 

 6.6 

 6.9 

 7.5 



6.2 



6.S 



MIDDLE ATLANTIC— continued. 

 Pennsylvania— Continued. 



5.8 

 6.0 

 5.9 

 5.6 

 5.7 



6.4 

 6.9 



5. 9 

 6.2 

 6.4 

 6.5 

 6.2 

 6.3 

 7.0 



6. 3 

 6.9 

 7.1 

 6.9 

 6.4 

 7.3 





New Hampishire 



6 6 



Vermont 



District 6 



7 8 



Massachusetts 



District 7 



7 i 



Rhode Island 



District 8 



7 1 





District 9 



6 4 



MIUULE ATLANTIC. 



.New Y'ork 



KA.ST NORTH CENTRAL. 



Ohio 



7 2 



District 2 



District 1 



7 9 



I>istrict 3 



District 2 



6 2 



District 4 



District 3 



7 1 



District r, 



District 4 



6.9 

 7 7 



District 6 





District 7 



District 6 



6 7 



Districts 



District? 



6 9 



Ui.strjct9 



District 8 



7 2 



.N"ew Jersey 



District 9 



6 9 



I'enn.syl vania 





7 6 



Diatrict 1 



District 1 



7.5 



F^lstrict 2 



District 2 



7 9 



Districts. .. . 



Districts 



6 6 



Districts 



District 4 



8.2 



' Avcraiid of ftstirnaiffl total c<j.st (rate |>er cent), iiicliiding "di.scount.s, l:onnses, co/iiiiiis.siojJti, and 

 any other extra char^t^s," a,s reported by correspondents. 

 - Data at hand not sufficient to warrant the .showing of a district average. 



