The Barre daily times. (Barre, Vt.) 1897-1959, 1912-09-21
DANISH CREDIT SOCIETIES
ATTRACT ATTENTION
President Taft of the United States Is
One of Seekers for Information Into
Working of the 0rgani-
cations.

Copenhagen, Sept 2l-The successful
operation OF the Danish Credit societies
is attracting widespread interest, and
the latest seeker after information con-
corning these organizations is President
Taft. President Blem head Of the larg-
est society, and an expert on their or
ganization, is preparing a report for the
chief executive of the United States.
At the same time, other Americans are
interesting themselves in the societies.
Dr. Pearson, of Ohio university, and
formerly commissioner of agriculture of
New York state. has been here for some
time studying their methods. DR.. Maui
rice Egan, the American minister, is
also preparing a report on the societies
for the American government.
The fundamental law for the societies
was passed in lS40. shortly after the
adoption of tht Danish constitution. The
system is worked on the cooperative
principle A society of landowners is
organized with the object Of borrowing
money jointly, II minis its own money
according to daily requirements, in the
shape of cash bonds on which interest
and installments are to be paid with
mortgage security in fixed property un-
der unlimited responsibility and with a
reserve 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 in
the usual way aud are subject to the
ordinary fluctuations of the stock ex-
change. Until the organization Of the
societies, it was almost impossible to
borrow money in Denmark, no matter
what security was given, for there was
scarcely any gold and silver in the
country and most of the trading was
done in actua commodities. The credit
societies remedied this condition, and the
people who had money to loan were no
longer afraid to part with it,
If Christian X should ever lose his
crown as king of Denmark, he could
make a good living with bicycle repair
shop, and he already has the promise
OF at least one customer.
While driving with his sons recently,
the king ran down a eyclist with his
carriage. Although the accident was
due to the earelessness Of the
bicycle rider. the king stopped the car
riage and went to the assistance of the
Young man. who was uninjured, but
whose machine was smashed.
His majesty, who is very fond of ey-
cling and who repairs his own machine, !,
saw at once that he could put the broken
,yele in running order again. The young
man seemed quite helpless and stood
cooking on with his hands in his pocket
while the king worked for ten minuteI
'epairing the damaged machine. When
he king had finished the work, the rider
isked for his card, promising to patron
re him whenever his machine needed re-
,airs. As the Young man stood with
mouth looking at the kings
lame engraved on the card, the royal
'arty drove away.
During the coming session of Parla.
nent the chief interest will be centered
IN the introduction Of the government
Measure for the abolition of plural vot-
ng for members of the Lansthinget, the /
upper house of the Danish legislature.
The Conservatives will lose heavily by
he abolition Of plural voting and the
present government win not gain any
hing while the rad icals will have their
,oting strength greatly augmented.
BY the original constitution of ls4a.
,lural voting was prohibited, but in 1866
measure was carried permitting heav
" taxed voters more than one vote for
members Of the upper house. As eoun-
er demand the Conservatives. in the
over house, viii seek a measure for pro-
'ortional representation, demand which
meets with opposition from section OF