The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1912-04-13
Progress i'm Farm Finance.
American Agriculturist.

| American Agriculturist.
Another forward step has been ac-
complished. The finance committee
has reported out favOrably to the
United states senate the Gronna reso-
luton Is 75) for a national commits
sion on farm finance. 1t is to consist
of three members, is to be appointed
by the president and it's existence is to
be limited to one year. The commits
| sion is to investigate and report upon
the system Of cooperative land mort
gage banking, and cooperative rural
credits, which have achieved such stu
pendous success in Europe.
This whole subject Of farm finance
and of rural cooperation has been
| under consideration throughout this
week at the Nashville conference.
called for this special purpose. That
conference is presided over by David
Lubin, delegate Of the United States
to the international institute of agri-
culture at Rome. 1t is being attended
by many representative farmers and
others. The conference will probably
adopt strong statement in favor of
the proposed national commission on
farm finance, and should take definite
action for supporting a propaganda
for the education of American farm
g in ti1-o fin
The action of the conference will be
followed by the Southern commercial
| congress at Nashville next week. April
s to 10. Meanwhile. it is imperative
that every person who favors better
methods Of farm finance should in
stantly write to one or both of the
senators from his State (address them
simply The Senate. Washington, r.
| Co. to the following effect:
Please promptly pass Senate joint
resolution rs for a national commits
sion on farm finance. OF course you
know that cooperative rural credit,
as developed in Europe, has been pro
| nounced by the British government
"a modern discovery which may be
likened, as a factor in production, to
the discovery Of steam." We Amer
lean farmers want to know all about
it and desire the proposed commission
for this purpose. Sign your name and
| address.
We have already emphasized pre-
viously the tremendous success Of the
| agricultural cooperative banking in
Germany. In that one country, the
| total business done annually by these
institutions under the Raiffeisen sys-
| tenn. exceeds $500, 900. 600. The total
business done in 1910 in Germany by
| the Schulze-Delitzsch peoples banks
was about $3.50. 900. Thus, these
| two classes Of farmers cooperative
| banks in Germany alone are doing
a business Of upward of Five Bill
| lion Of dollars annually. Besides
this the cooperative land mortgage
banks in Germany do a business ag
| gregating some billions Of dollars,
and enable farmers to borrow money
on mortgage at 1-2 and 1-2 per
cent
These figures are for Germany
alone. The same principles are en-
ployed in various ways in other con-
| tinental countries, Some OF these
institutions date back $50 years The
| rural credit banks date back about
| so years. so great has been their
efficiency that their number, member
ship and volume Of business have in
creased more during the past 10
years than in the previous 40 years
| They do a bigger business and are
equally as well managed as the So
| called great commercial banks OF
| Europe
| AS soon as the Gronna resolut; IN
passes the senate. letters should be
written in its behalf to Hon. O. w.