The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1912-12-10

themselves n they can no" COIN
mand capital for any productive uses
they have.
There are historic changes similar
to this that have taken place in
German neighborhoods.
But [ 40 not wish to leave the I'M
preston that these credit societies are
only for men who nave fallen low
in the economic and social scale.
They are for all men on farms. Ihey
are simply machinery to get money
il. small sums on long loans at low
interest-money to put into produc-
tive uses on the land. good alike for
rich and poor.
And they have this supreme adVan-
tase owe any mere mortgage plan
OF borrowing-they band men to-
sether SO that they are obliged to
help one another.
Consider this difference. A man
mortgages his lane and gets money.
He doesn't even like to let his neigh
bors know hat he has done such
q thing. He carries his burden alone.
Another man pledges himself to
help his neighbor borrow and his
neighbOr returns the compliment
They are both in the anne boa BOT
only does each know the others con-
dition: each is bound to help the
other. There's a world Of difference.
~ IA OoASAAA W III 40
the building up Of the countryman.
The main task in building up the
cOuntryman is to enable him to get
money to develop his land and to
train him to the safe and wise use Of
money. See where his would lead.
There Is hardly an acre Of land In
North Carolina hat would not we'll
money on it. Most Of the acres in
cultivation are bound to have money
spent on them before they "a yield
good profits. And only a small part
OF the lane in North Carolina is yet
under any kind Of cultivation at all.
Try to calculate h sum Of money
that could be wisely spent on all the
arabic land in North Carolina if it
were all worked by men who knew
their business and could manag
money wisely-What a vast sum this
investment calls for! Well, it's obliged
to come: the sooner it comes the
sooner shall we come into the wealth
that awaits us. This is our great task
n the task Of several generations
that come after us. Our wealth and
well-being will increase as fast as
We do it.
I have no doubt that the principle
Of the Raiffeisen credit society will
be adopted in North Carolina sooner
or later. | have come here to see If
we may not do ourselves h honor
to adopt It here before anybody else
in the United States adopts it.
The farm demonstration organiza-
ton leads, in the right direction
These unselfish men are directly pre-
pairing the way for such credit so.
cieties They bring men to the very
door of such a thought.
The difficult part Of the task is tC
make a beginning. To max a be-
ginning two things are necessary
first, to find a community Of farmer
who r willing to borrow money
cheap and for a long time on such
conditions, each to pledge himself fol
the others debt. Let them organize
Let them appoint a managing com.
mittee. Let the managing committee
pass on h application and 1ejec'
or approve them. Let them select {
cashier, who Is the only paid officer
OF the organization and who is, il
fact little more than a responsible.
bookkeeper.
Then the money must be got a
first from some outside source. In {
little while these societies will hay,
money of their own for their mem
bers would deposit their earning
: with them as in a savings bank. Blu
; at first somebody must lend tn,
: money.
i NV 10 S0AAAS NO"A W ~ It(C1(dl dc
. ton. We do not get far by mereI,
: discussing the general principle. Cal
a meeting in Raleigh Of men VIII,
3 are willing to lend a little money a
= 6 per cent for say four years on thi
3 hest Of all security, to be paid bacl
= In Instruments; and let us get to
4 gether a few thousand dollars. The1
find a n~eighbo:hood in the countr,
where men will band themselves to
t gether TN the way I have described 7,
= borrow it and to put 1t to PRODUCTIVE
: uses Neither Of these tasks will b
hard to do.
You will start a great movement
9 and max a great chapter In Nort]
Carolina history. You will be sur
= prised to find how rapidly the de;
9 will grow n spread and how man
millions Of dollars will very soon e
through these channels to the pro
o ductive development Of the soil an,
0 to tho making Of our farmers int
/ business men