Full resolution (JPEG) - On this page / på denna sida - Second part - VI. Agriculture and Cattle-Breeding - 4. Public and Private Institutions to the Advancement of Agriculture - Mortgage on Real estate - Loans and subventions for Cultivation
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MORTGAGE ON REAL ESTATE.
601
Mortgage on Real estate.
Sweden’s official statistics give an annual report on the amount of
mortgages granted and voided, and they also effect a calculation on the entire
remaining debt, but, as no distinction is made between landed property and other real
property, there is no way of finding out the debt resting upon the soil. At a
certain idea on this point one may, however, arrive by the fact that the statistics
in question make a difference between country and town. At the end of 1880,
1890, and 1900, the entire debt mortgaged on real estate and compared to the
assessed value, was estimated at (in kronor à l’io shilling or 0-268 dollar):
Assessed value. Mortgaged debt. In
In the conntry. In 1880 ............ 2,302,306,035 kr. 795,691,445 kr. 34 5
1890 ............ 2,463,186,845 . 977,629,214 » 397
1900 ............ 2,862,072,050 > 1,193,540,696 » 417
In the towns. In 1880 ............ 732,478,366 kr. 329,893,782 kr. 45 0
1890............ 1,150,514,171 » 641,662,615 » 55 8
1900............ 1,639,620,830 . 962,240,628 » 58-7
Total. In 1880 ............ 3,034,784,401 kr. 1,125,585,227 kr. 37-1
1890 ............ 3,613,701,016 > 1,619,291,829 » 44 8
1900 ............ 4,501,692,880 > 2,155,781,324 » 47 8
Between 1880 and 1890, the mortgaged debt thus increased very considerably,
both absolutely and relatively, but since 1890 the increase has, in proportion to
the assessed value of property, been less prominent.
Of the various Läns, the mortgage percentage was, in 1900, highest in the
Län of Jemtland (66m %) and in the city of Stockholm (63-8), whereas it was
lowest in the Läns of Vesterbotten (22-4) and of Vesternorrland (33’2). In our
richest province, Skåne, the mortgage percentage is rather high, viz., in the Län
of Malmöhus 53-2 % and in that of Kristianstad 53*7.
Loans and subventions for Cultivation.
For drainage of lakes and watery grounds and for cultivation of the soil
drained, loans out of the public funds are granted on certain conditions. For
this purpose there exist two Cultivation loan funds, the Old and the New one,
administered by the Exchequer Department. Loans from the New cultivation fund
are granted up to an annual total of 1 million kronor at the most, and they
must in each case be limited to that amount, at the utmost, which is required
to cover the costs for drainage and ditching. The loan-taker must find security
for the draining and ditching as well as the cultivation itself being completed in
due time. On the sum lent no interest or amortization is paid during the five
(at present six) first years, but on the amounts drawn during the time appointed,
an annual interest of originally 5, at present 3’6 % is charged, which at the end
of those five (now six) years is added to the capital. In special cases the
Government can fully release from interest, at most for five years. According to the
original proviso of 1883, 10 % — out of which 5 % interest — should be paid
on the amount thus accrued from the sixth year inclusive till the loan had been
fully discharged; but in 1885, the annuity for loans granted after that time was
reduced to 8 %, of which 4V* % interest. In 1895, the interest was further
reduced to 4 in 1898, the annuity to 7 and the interest to 3*6 %; and, in 1901,
respectively to 6 and 3-6 %. The annuities are apportioned on those farms and
holdings which are partakers in the cultivation, and are collected together with
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