40 



BULLETIN 1034. U. S. DEPARTMENT OF AGEICULTURE. 



decreased slightly, from 6.8 per cent in 1913 to 6.6 per cent in 1918. 

 The interest rate averaged highest for the farms getting the smaller 

 loans. About one-third of the colored tenants had mortgage loans in 

 1913 and only 2 per cent in 1918. Ninety-seven per cent had yearly 

 loans in 1913 and 80 per cent in 1918. The yearly loan interest rate 

 was decreased 1 per cent in 1918 under that of 1913 for the colored 

 tenants. 



Another good measure of the increased prosperity of these farmers 

 is shown by a comparison of the amount of money borrowed for carry- 

 ing on the year's business in 1913 and 1918, It has long been the 

 custom for many farmers in this area to borrow money necessary each 

 year to conduct the business. (See Table 20.) For example, in 1913, 

 60 per cent of the white owners borrowed all or part of the cash 

 required for farm expenses, while in 1918 only 44 per cent borrowed. 

 The colored tenants showed a similar improvement. In 1913 91 per 

 cent borrowed all their cash and only 3 per cent did not borrow any, 

 while in 1918 only 60 per cent borrowed all, and 22 per cent not any. 



Table 19. — Farm loans and interest rates on icMte opener and colored tenant 

 farms, Sumter County, Ga., 1913-1918. 



WHITE OWNERS. 



150 acres 



and 



under. 



Over 150 

 acres. 



All 



farms. 



150 acres 



and 

 under. 



Over 150 

 acres. 



All 

 farms. 



Number of farms reporting mortgage loans 



Per cent of total number of farms 



Amount of loan per farm reporting. . . 



Interest rate ( per cent) 



Number of farms reporting yearly loans . . 



Per cent of total number of farms 



Amount of loan per farm reporting. . . 



Interest rate ( per cent) 



52 



33 



$1, 488 



7.7 



84 



54 



$309 



7.6 



43 

 ,795 

 6.6 

 76 

 68 

 ,646 

 6.9 



100 



37 



$4,995 



6.8 



160 



60 



S940 



7.0 



27 



16 



1,848 



7.0 



65 



40 



$322 



7.8 



33 



$10,503 



6.5 



58 



50 



$1,927 



7.1 



f.5 



23 



$6,908 



6.6 



123 



44 



$1,078 



7.0 



COLORED TENANTS. 



50 acres 



and 

 under. 



Over 50 

 acres. 



All 

 farms. 



50 acres 



and 

 under. 



Over 50 

 acres. 



All 



farms. 



Number of farms reporting mortgage loans. 



Per cent of total number of farms 



Amount of loan per farm reporting 



Interest rate ( per cent) 



Number of farms reporting yearly loans . .. 



Per cent of total number of farms 



Amount of loan per farm reporting 



Interest rate ( per cent) 



33 

 34 



$168 

 10.2 

 92 

 96 

 $104 

 10.7 



10.3 



$205 

 10.6 



61 



33 



$250 



10.2 



ISO 



97 



$153 



10.7 



49 



79 

 $117 

 10.1 



4 



4 



$360 



9.6 



83 



SO 



$211 



9.6 



4 



2 



$360 



9.6 



132 



80 



$176 



9.7 



