BULLETIN 384, U. S. DEPARTMENT OF AGEICULTUEE. 
Table 1. — Farm-mortgage loans — Average rates for interest and commission 
Geographic division and 
State. 
Aver- 
age 
inter- 
est 
rate. 
Aver- 
age 
annual 
com- 
mis- 
sion. 1 
Inter- 
est 
plus 
com- 
mis- 
sion. 
Geographic division and 
State. 
Aver- 
age 
inter- 
est 
rate. 
Aver- 
age 
annual 
com- 
mis- 
sion. 1 
Inter- 
est 
plus 
com- 
mis- 
sion. 
New England: 
6.1 
5.3 
5.6 
5.6 
5.7 
5.7 
5.5 
5.5 
5.5 
5.9 
5.8 
5. 7 
6.3 
5.7 
6.3 
5.6 
6.2 
6.9 
7.0 
6.3 
6.1 
5.6 
5.7 
6.1 
0.1 
( 2 ) 
( 2 ) 
( 2 ) 
.2 
( 2 ) 
.1 
.3 
.3 
.2 
.4 
.3 
.3 
.1 
.5 
.3 
.6 
1.8 
1.0 
.8 
.8 
( 2 ) 
.4 
. 7 
6.2 
5.3 
5.6 
5.6 
5.9 
5. 7 
5.6 
5.8 
5.8 
6.1 
6.2 
6.0 
6.6 
5.8 
6.8 
5.9 
6.8 
8.7 
8.0 
7.1 
6.9 
5.6 
6.1 
6.8 
South Atlantic — Contd. 
West Virginia 
North Carolina 
South Carolina 
6.2 
6.3 
7.8 
7.6 
9.0 
6.7 
7.3 
8.7 
8.0 
9.0 
8.2 
6.6 
8.4 
8.4 
8.2 
9.2 
8.3 
9.7 
9.1 
8.6 
7.9 
7.7 
7.4 
0.2 
1.4 
.6 
1.1 
.6 
.4 
.6 
.7 
.5 
.6 
.4 
1.8 
.6 
1.6 
.7 
.8 
.6 
.8 
.3 
.4 
.8 
.3 
.2 
6.4 
7.7 
8.4 
8 7 
New Hampshire 
Massachusetts 
Rhode Island 
Florida 
9.6 
East South Central: 
Kentucky 
Tennessee 
Middle Atlantic: 
7.1 
7.9 
9.4 
8.5 
New J ersev 
Pennsvlvania. 
Mississippi 
East North Central: 
Ohio 
West South Central: 
9.6 
8.6 
8 4 
Indiana 
Illinois 
Michigan 
Texas 
9 
Wisconsin 
Mountain: 
West North Central: 
10.0 
Minnesota 
8 9 
Iowa 
10 
8 9 
North Dakota 
10.5 
South Dakota 
9.4 
Nebraska 
Utah 
9.0 
Kansas 
Pacific: 
Washington 
South Atlantic: 
8.7 
Delaware 
8.0 
7.6 
1 Where the report shows a commission paid once for all in advance on a loan running more than one 
year, the equivalent annual commission is used. 
2 Less than one-tenth of 1 per cent. 
Where commission is charged, it is collected either as a cash pay- 
ment in advance (that is, it is taken out of the amount represented 
by the face of the loan) or in a number of installments. Installment 
commission usually is collected annually or semiannually, with the 
interest, but frequently arrangements are made for the payment of 
the whole commission on a 5-year loan, say, in two or three annual 
installments. 
RELATIVE EVfPORTANCE OF DIFFERENT RATES OF INTEREST. 
Averages such as those shown in Table 1 do not indicate the range 
of figures which go to make up the averages. Another table (Table 2) 
is presented, therefore, which indicates the relative importance of 
different rates reported for interest plus commission in each State. 
This is also shown graphically in Diagram B. It will be seen that 
those rates which figure most prominently in the New England and 
corn-belt States practically disappear as one enters the cotton belt or 
the Kocky Mountain States. 
In order to indicate still further the relative importance of the dif- 
ferent rates reported, the data have been assembled by districts within 
States, following the plan of subdivision used by the Bureau of Crop 
Estimates as shown by the map (Plate V). Under this arrangement 
each State is usually divided into nine districts. Table 3 shows 
