The Calumet news., 1912-09-21
WANTS TO KNOW
OF DANISH PLAN
President Tatt Seeks Information
About Cooperative Societies
!copyright.l


Copenhagen. 'Sert 2l.-The success
ful operation of the Danish Credit So
cieties is attracting widespread inter
est. and the latest seeker after infor-
nation concerning these organizations
is President Taft. President Blem.
head of the largest society. and an
expert on their organization. Is prcpar-
ing a report for the chief executive of
the United states. At the same time
other Americans are interesting them
selves in the societies. DR.. Pearson. of
Ohio University, and formerly Commits
sioner Of Agriculture of New York
State, has been here for some time
studying their methods DIR Maurice
E1gan, the American minister. is also
preparing a report on the societies
for the American government
The fundamental law for the SO
cieties was passed In is4S, shortly af-
ter the adoption of the Danish consti-
tuition. The system is worked on the
co operative principle. society of
land owners is organized with the oh
iect of borrowing money Jointly. 1t
mints its own money according To
daily requirements in the shape OF
cash bonds on which interest and in
stallments are to be paid with mort
| g.. Ax. Al
unlimited responsibility and with re-
serve fund as an auxiliary support
During recent years the societies have
even arranged to give loans, which
are exempt from installment payments
The bonds are put on the market II
the usual way and are subject to th'
ordinary fluctuations of the stock ex'
change Until the organization CT th'
/ societies il was almost impossible L
borrow money i'm Denmark, no matter
what security was given. for there
was scarcely any gold and silver in th'
country and most of the trading wa!
done in actual commodities The cred
il societies remedied this condition an,
the people who had money To loai
were no longer afraid To part with II
Likes American Flag.
The American flag which was used
during the ceremonies of the opening
of the Danish American national parl
at Rebild Hills is now flying from tn
royal castle of Marselisborg. The fla
was presented to the King by IN
Danish born citizens of the Unite
states through Magnus Holm of Chi
cago. The actual presentation wa
, made by DR. Max Henius.
The King has sent the following let
tor to Holm Il send to yourself AN
request YOU TO extend To the othe
gentlemen sincere thanks for the Am
b, erican flag which YOU presented to m
, through DR. Max Henius. a flag tina
besides reminding me of the beautifl
festivities of Rebild Hills also show
q me your and other countrymen's lov
Tor your native land. (Signed) Chris
q tian Rex" The flag. which is of sil
. and beautifully embroidered, bears th
following inscription: "Rebild Hin
August &. 1912. with greetings froi
o the United states"
n Clever Danish Swindle.
= BY spreading the report that u
II Danish copper cent coins of the ~
issue contained gold, clever swindl'
has amassed a small fortune in Der
mark. Before spreading the rune
the swindler acquired large colle'
: tion of the 1a1O issue Of coppers. The
q it became noised about that through
=, mistake in the mint gold had bee
10 mixed with the copper.
" The price of the cent pieces beg'
"A to go up. some selling for as much
to dollar each. With the market at Il
a.. highest the collector distributed b
e. cents iudieiously among the clamoro
!. bidders and escaped before II becar
pr generally known that the coins we
m worth only their face value.