The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1912-07-22
SYSTEM Of
CREDIT FOR
THE FARMER
INVESTIGATING FINANCIAL FA.
BRIO OF OTHER NATIONS FOR
OUR BENEFIT.

NdSHluSlO July ANCH III iC-
mote Siberia and Turkestan has the
farmers cooperative credit system
reared financial fabric to assist the
peasant farmer of the Russian ears
domain. The State department has
Just received from Ambassador Cur
tis Guild at St. Petersburg an exhaus-
tive report on the farmers cO-opera-
tive credit system in Russia.
This is the first OF a series OF re-
ports requested by President Taft
from nearly every one of the diplo-
matte officers in Europe on this move
ment which he is striving to trans
plant to this country for the bene-
fit of the American farmer. Ambas-
sador Guilds report has been taken
under consideration by the State de-
partment as the first step in prepar-
ing a plan to fit the cooperative idea
to American conditions
At the present time the Russian
government has nearly forty millions
of dollars OF government money in
vested in the farmers cooperative
credit system. which is perhaps the
strongest testimonial of all as to tho
success of the movement among Rus
sian farmers and of the great benefits
which it is bringing to that nation.
How established a part of the Rus
sian peasants life this financial ma
chine is becoming is clearly shown
in the practice of the peasants to de-
post their savings with the credit
societies on the understanding that
the deposits will be paid out after
their death for their funeral expenses
or that they will be returned to them
at the lime of the coming of age of q
sen or he marriage of a daughter
The cooperative movement among
Russian peasants has now developed
two distinct aims: First, to educate
the peasants, Il large proportion OF
whom are quite illiteratc, along the
lines of modern farming; and, Sec
Cndly. to encourage them to save
their earnings and acquire the habit
ot providing against the rainy days.
The dircrt aim of the Russian gov
crnment in organizing this system
was to relieve the peasant from the
necessity of paying cxorbitant and
ruinous rates of interest, imposed
upon them by their money lenders,
the rates often running as high as 60
and. in known eases, to 2i0 per cent
The movement affords further edu-
cation for the peasant since the Rus
sian government has very wisely left
the management of the societies
largely in the hands of the farmers
themselves, conducted through the
general meetings of the societies, i'm
which every member of the society is
given one vote. The peasant is thus
Sven cor Neutrality-suspicious. in iinan-
cial affairs and management. The
rcmbers elect a board of directors
and council These bodies take care
b: the executive work. They report
10 the general meetings OF the So
;cti"s. at which all the members are
-r's' nj. The government exercises
uperKision over the societies through
he ministry of finance.
Although instituted as late as 1895.
he movement has spread i'm Russi.
% include 10000 farmers societies.
With an average membership i'm eacl.
'ociety of nearly 500. The network
u societies covers practically the en-
ire immense area of the Russian EN-.
'ire. Widespread interest is taken
Il the movement both by the Rus
ian government and by the peasants.
md the government is at the present
ime considering a further elabora-
ion of the schme.