Farm‐mortgage indebtedness shows further decline

Farm‐mortgage indebtedness in the United States continued to decline during 1935 and 1936. The total outstanding fell 1.9 percent in 1935 and 3.3 percent in 1936.

The volume of farm‐mortgage debt was estimated at $7,254,821,000 on 1 January 1937, compared with $7,500,489,000 a year earlier, $7,645,091,0000 on 1 January 1935, and with $9,214,278,000 on 1 January 1930[1]. The reduction of $245,668,000 during 1936 compares with a decline of $144,602,000 in 1935. The percentage decline during the year 1936, was almost as great as the annual average percentage decline for the 5 years 1930‐1934. The trend of farm‐mortgage debt and the...