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Booraem, Alfred W., May 31, 1946.
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| Revision as of Aug 8, 2017 1:27:53 PM created by 128.193.164.143 |
Revision as of Aug 8, 2017 1:27:58 PM edited by 128.193.164.143 |
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In the East, the stability of banks and mortgage companies was threatened, and in the West, the farmer debtors frankly threatened purchasers at sheriff sales. The net result was the substituting of 4% long term mortgages for 6% short term ones. | In the East, the stability of banks and mortgage companies was threatened, and in the West, the farmer debtors frankly threatened purchasers at sheriff sales. The net result was the substituting of 4% long term mortgages for 6% short term ones. | ||
In earlier depressions, high mortgage rates on farms, contributed to the Granger, Populist and Free Silver movements of the last century. | In earlier depressions, high mortgage rates on farms, contributed to the Granger, Populist and Free Silver movements of the last century. | ||
| − | The legality of the foreclosures did not prevent the economic reactions against the | + | The legality of the foreclosures did not prevent the economic reactions against the community. |