16 



BULLETIN 1048, U. S. DEPAETMENT OF AGEICULTUEE. 



The range in the prevailing rates as reported in Table 3 is also of 

 interest. For the United States, 35.2 per cent of the banks which 

 replied to this question reported rates varying from 7.50 to 8.49 per 

 cent. Rates of from 5.50 to 6.49 per cent, which are shown as preva- 

 lent for New England and Middle Atlantic, disappear almost en- 

 tirely in the West South Central and Mountain States, where a rate 

 of 9.50 per cent or more was charged by three-fourths of the banks. 

 Rates exceeding 11.50 percent were reported by nearly 9 per cent of 

 the banks in Georgia, by 10 per cent of those in Nevada, and by 11 

 per cent of those in New Mexico. 



Table 3. — Prevailing rates of interest on personal and collateral loans to farmers: Per 

 cent of banks reporting the various rates, March, 1921.^ 



1 Rates involving fractions of 1 per cent are approximated to the nearest unit. 



