BANK LOANS TO FARMERS. 7 
discount on agricultural as well as other credit paper, which for the 
month in question averaged approximately 7 per cent, the rate re- 
ported is perhaps no higher than the banks were forced to charge in 
order to continue in operation. 
Table 2. — Average rates of interest on short-time loans to farmers reported by banks, 
March, 1921. 
Short-time loans of S100 or more. 
Petty short-time loans. 
Geographic division, 
State, and crop 
Number 
Rate of interest. 
Number 
of banks 
Rate of interest. 
estimates district. 
of banks 
report- 
ing. 
Low. 
High. 
Prevail- 
ing. 
report- 
ing. 
Dow. 
High. 
Prevail- 
ing. 
Per cent. 
Per cent. 
Per cent. 
Per cent. 
Per cent. 
Per cent. 
United States . . 
9,157 
7.59 
8.23 
7.96 
7,880 
7.91 
8.48 
8.21 
New England 
226 
6.19 
6.57 
6.43 
153 
6.31 
6.59 
6.49 
42 
28 
6.12 
5.89 
6.40 
6.00 
6.31 
5.98 
29 
18 
6.34 
5.94 
6.62 
6.00 
6.50 
New Hampshire . . . 
6.00 
31 
77 
6.00 
6.43 
6.10 
7.09 
6.03 
6.86 
27 
46 
6.04 
6.66 
6.15 
7.14 
6.07 
Massachusetts 
6.97 
Rhode Island 
5 
6.50 
7.10 
7.00 
4 
6.75 
7.25 
7.25 
Connecticut 
43 
6.13 
6.44 
6.31 
29 
6.16 
6.38 
6.31 
Middle Atlantic 
675 
5.97 
6.03 
6.01 
560 
5.98 
6.03 
6.00 
259 
5.98 
6.05 
6.01 
212 
5.99 
6.06 
6.01 
District 2 
17 
6.00 
6.00 
6.00 
15 
6.00 
6.00 
6.00 
3 
6 
6.00 
6.00 
6.00 
4 
6.00 
6.00 
6.00 
4 !.. 
50 
5.98 
6.12 
6.02 
43 
6.01 
6.10 
6.03 
5 
51 
5.99 
6.00 
6.00 
43 
6.00 
6.00 
6.00 
6 
28 
6.00 
6.00 
6.00 
24 
6.00 
6.04 
6.00 
7 
26 
6.00 
6.19 
6.06 
24 
6.00 
6.29 
6.02 
8 
11 
6.00 
6.00 
6.00 
9 
6.00 
6.00 
6.00 
9 
48 
5.98 
6.04 
6.02 
35 
6.00 
6.00 
6.00 
9a.. 
22 
5.91 
6.00 
6.00 
15 
5.87 
6.00 
6.00 
New Jersey 
74 
5.94 
6.04 
6.00 
58 
5.98 
6.03 
6.00 
District 1 
10 
5.80 
6.10 
6.00 
9 
6.00 
6.00 
6.00 
2 
4 
6.00 
6.00 
6.00 
2 
6.00 
6.00 
• 6.00 
3 
13 
5.81 
6.15 
6.00 
10 
5.90 
6.20 
6.00 
5 
27 
6.00 
6.00 
6.00 
22 
6.00 
6.00 
6.00 
7 
14 
6.00 
6.00 
6.00 
11 
6.00 
6.00 
6.00 
9 
6 
6.00 
6.00 
6.00 
4 
6.00 
6.00 
6.00 
Pennsylvania 
342 
5.96 
6.01 
6.01 
290 
5.97 
6.00 
6.00 
District 1 
23 
6.00 
6.04 
6.02 
20 
6.00 
6.00 
6.00 
2 
26 
6.00 
6.00 
6.00 
26 
6.00 
6.00 
6.00 
3 
21 
6.00 
6.00 
6.00 
18 
6.00 
6.00 
6.00 
4 
34 
6.00 
6.00 
6.00 
27 
6.00 
6.00 
6.00 
5 
56 
5.95 
6.00 
6.00 
47 
5.98 
6.02 
6.00 
6 
28 
5.93 
6.00 
6.00 
25 
6.00 
6.00 
6.00 
7 
46 
5.93 
6.00 
6.00 
38 
5.92 
6.00 
6.00 
8 
38 
5.89 
6.00 
6.00 
35 
5.94 
6.00 
6.00 
9 
70 
5.96 
6.04 
6.04 
54 
5.96 
6.88 
6.75 
6.00 
7.40 
5.99 
East North Central . . . 
1,890 
6.58 
7.23 
7.09 
6.96 
1,666 
7.17 
Ohio 
370 
6.48 
6.79 
329 
7.25 
7.00 
66 
6.54 
7.39 
7.00 
59 
6.98 
7.56 
7.36 
2 
37 
6.41 
6.65 
6.59 
35 
6.57 
6.80 
6.69 
3 
59 
6.46 
7.03 
6.81 
49 
6.67 
7.20 
6.93 
4 
38 
6.66 
7.32 
6.92 
32 
6.81 
7.47 
6.98 
5 
50 
6.56 
7.34 
6.85 
49 
6.92 
7.43 
7.15 
6 
35 
6.29 
6.60 
6.43 
29 
6.34 
6.69 
6.45 
7 
39 
6.47 
6.91 
6.68 
34 
6.59 
7.18 
6.86 
8 
17 
6.53 
7.41 
7.03 
18 
7.00 
7.61 
7.50 
9 
29 
6.28 
7.03 
6.66 
24 
6.71 
7.12 
6.94 
