Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/220

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198
WEALTH AND INCOME OF
Farms operated by their owners, total number 3,925,090
Free from mortgage 2,313,712
Mortgaged 1,611,378

While the number of farms operated by their owners decreased 23,632 or 0.6 per cent, between 1910 and 1920, the number of such farms mortgaged increased 283,939, or 21.4 per cent, and the number free from mortgage decreased 307,571, or 11.7 per cent. The percentage of owned farms mortgaged increased from 33.6 in 1910 to 41.3 in 1920. This increase does not necessarily indicate any lack of prosperity, however, since much of the money is borrowed for profitable investment in improvements or in additional land.

According to a statement issued by the Treasury Department in September, 1921, the deposits in more than 37,000 savings banks in the United States amounted to about six billion dollars. In 1916 the total was about five billion dollars. Orrin C. Lester, acting director of the Savings Division, Treasury Department, furnished me with the following statement of the total of Liberty bonds and Victory notes, by denominations, outstanding May 31, 1921.

Denomination Number of pieces Amount
$ 50 23,068,509 $ 1,153,425,450
100 20,459,037 2,045,903,700
500 3,518,551 1,759,275,500
1,000 7,448,075 7,448,075,000
5,000 315,664 1,578,320,000
10,000 386,702 3,867,020,000
50,000 5,760 288,000,000
100,000 11,478 1,147,800,000
Bonds and notes deliverable, denominations unavailable ......... 3,540,050
Total 55,213,776 $19,291,359,700