Agricultural Economics Department
Real Estate, Mortgage, Haakon County, Loans, Farms, Agricultural Economics, Elbon Township, Topbar Township, Milesville Township
Purpose of Study.-The unfavorable relationship between farm income and farm expense since the post-war deflation began in 1920 makes it desirable to study the farm real estate mortgage debt, as one of the important divisions of agricultural credit. The bulk of the farmer's investment is in land; consequently, the method of financing that investment is an important part of the farm problem. A number of considerations are involved in the question of how to finance the ownership of farm land. Attention must be given to the value of the farm, both present and prospective, and how these values are determined. How large a loan should be placed on the farm, for what length of time should the mortgage run, what rate of interest can be paid, and how should the loan be repaid? These and a number of other important questions relating to the farm mortgage problem can be answered best only after some information has been acquired about actual conditions in a given vicinity. It is the purpose of this study to assemble and present such information with reference to Haakon County. The conditions in that county should be quite typical of the surrounding region. It is hoped that the picture of the farm mortgage situation in the area studied, as presented in the following pages, will be of help in suggesting possible improvements.
South Dakota State State College of Agriculture and Mechanic Arts, Agricultural Experiment Station
Lundy, G., "Mortgage Loans on Farm Real Estate in Haakon County, South Dakota, 1910 - 1930" (1932). Agricultural Experiment Station Circulars. 5.