The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-04-09
OF AMERICAN MA
CHINERY IN EUROPE. .
Correspondence of the Progressive Farmer.

CHINERY IN EUROPE.
Correspondence of the Progressive Farmer.
PARIS.
The steady industrial movement that
is now taking place throughout Europe
is particularly noticeable in the vast
extension of agriculture. Owing to
the depression that has existed for so
long q time in all branches of trade the
agricultural industry haU lately been
under q cloud, and the difficulty is
further accumulated by the low prices
prevailing in the consuming markets.
The production of agricultural produce
in many countries is so much in excess
of the home needs that growers have
to dispose of their surplus abroad, and
they are aided in this by the payment
of heavy bounties upon some descrip-
tions of exports by the respective gov
ernments, which thus enable agricul-
turists to sell their produce to foreign
consumers at a very low price, consid-
erably below that, indeed, paid by the
home buyers. The idea of this policy
is to make a small profit, If possible,
upon the surplus pSoSuce, but in any
event to cover the CUsS6f production
and transport, and make up for any
deficiency by imposing high prices
upon the home consumers, So far, the
policy has only met with partial sue
cess, as the vast increase in the ex
ports has taxed the resources of the
State very considerably, and there has
been for some time past a proposal to
withdraw the bounty paid in France
upon the exported sugar. At the same
time England and other markets have
been deluged with produce of all de-
scriptions and prices have fallen to
such a point as to leave no profit what
ever to the Continental grower. France
and Germany are waging a bitter war
in the sugar trade, and Russia finds a
formidable competitor in India and
South America in the sale of it's wheat.
Nevertheless, it has only served to
stimulate the agriculturists into further
%exertion, as they consider that as profits
are invisible it is necessary to econo.
mise production in every possible way
by improving the methods Of culture
and employing the most efficient ma,
chinery. To enable them to attain this
end a new banking system is coming
into vogue with a view of afording re.
lief to the agriculturist, who is, as a
r1lS", a small land owner living from
hand to fnSoouth, and should he expert
ence a season or1haS harvest he is quite
unable to provide himself with nipple
ments and machinery necessary to his
trade. This difficulty has just been
overcome in France by the foA"matlon
Of Credit Agricole, under whichG abody
Of capitalists interested in the inds ;,IsGry
is authorized to make loans for sir or
nine months, to be repaid out of the
profits of the yield. Thus, a small
grower who may find himself without
capital may borrow a sum of money
limited to a third of the value of his
crops and being thus able to turn the
resources of his land to the best account
can at the ingathering of the harvest
repay the loan and probably find him
self with a satisfactory profit. The
effect of this enterprise upon the i'm.
plement and machinery trade cannot
be otherwise than beneficial, as the
grower will not find it necessary to re-
strict his expenditure as heretofore.
The system is considered to be such a
practicable one that it is now proposed
to adopt it in Spain and Denmark. A
Spanish deputy is bringing forward a
proposal for the establishment of an
agricultural bank in CATALONIA, which
shall be in the hands of a limited COM
pany under the control of the State.
The loans will be made either in money
or in kind, and viii be restricted to a