The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1912-08-07

reared a financial fabric to assist the
peasant farmer of the Russian Cars
domain. The state department has
just received from Ambassador Curtis
Guild at st. Petersburg an exhaustive
report on the farmers cooperative
credit system In Russia.
This Is the first OF series of re-
ports requested by President Taft
from nearly every one OF the diplo-
matte officers In Europe OH this move
ment which he Is striving to trans
plant To this country for the benefit
OF the American farmer. Ambassador
Guilds report has been taken under
consideration by the State department
as the first step in preparing a plan
to fit the cooperative credit idea to
American conditions.
AT the present time the Russian
Government has nearly forty millions
OF dollars OF Government money in
vested I'm the farmers cooperative
credit system. which is perhaps the
strongest testimonial Of all as to the
success of the movement among Rus
sian farmers and of the great benefits
which IL Is bringing to that nation.
How established part of the Rus
sian PEASANTS life this financial ma
chine Is becoming is clearly shown
In the practice of the peasants to de-
posit their savings with the credit
societies on the understanding that
the deposits will De paid out after
their death for their funeral expenses
or that they will be returned to them
at the time of the coming of age of
son or the marriage Of a daughter.
The cooperative movement among
Russian peasants has now developed
two distinct aims: First. to educate
the peasants. a large proportion of
whom are quite illiterate. along the
lines Of modern farming: and. sec
ondly. to encourage them to save
their earnings and acquire the habit
OF providing against the rainy days.
The direct am Of the Russian govern
ment in organizing this system was
to relieve the peasant from the neces-
sity Of paying exorbitant and runious
rates of interest. imposed upon them
by their money lenders. the rates Of
ten running as high as so and. IN
known cases. To- 240 per cent. The
movement affords further education
for the peasant since the Russian
government has very wisely left the
management OF the societies largely
In the hands Of the farmers them
selves. conducted through the gen.
eral meetings of the societies. in
which every member Of the society Is
gwen one vote. The peasant Is thus
given considerable experience i'm finan-
cial affairs and management. The
members elect q board Of directors
and a council. These bodies take care
Of the executive work. They report
to the general meetings OF the socie-
ties; at which ali the members are
present The Government, exercises
supervision over the societies through
the Ministry OF Finance.
Although instituted as late as 1895,
the movement has spread i'm Russia
to include 10000 farmers societies
with an average membership in each
society of nearly 500 The net work
OF societies covers practically the ell
tire immense area of the Russian
Empire. Widespread interest is taxi
en- In the movement both by the Rus
sian Government and by the peasants.
and the Government is az the present
time considering further elaboration
OF the scheme.
In studying the Russian Co-oper-
ative credit system from the view
point OF the American farmer. Am
hassddOr Guild finds that naturally
the great difference obtaining be-
tween conditions in the United
states and In Russia. in regard To the
amount of land farmed hy individ
uals. the system OF land tenure. the
wealth Of the farming class. and i'm
the general facility for borrowing
money. makes IL impossible for this
country To secure much benefit from
study of the Russian system be-
yOnd It's general principles.
For example. the average loan re-
quired by the farmer In Russia does
not exceed $50 and Is generally en-
ployed To purchase some article nee
essary az the moment. such as an ag-
ricultural implement or n horse. the
loan being repaid 10y the Russian far