El Paso herald. (El Paso, Tex.) 1901-1931, 1912-09-21
DENMARK HAS
new CREDIT
SYSTEM
President Taft Asks Infor
nation on Operation of
Cooperative Credits.
KING CHRISTIAN
REPAIRS BICYCLE


successful operation of the Danish
Credit societies is attracting wide
spread interest, and the latest seeker
after information concerning these or
CARNATIONS is president Taft. Presi-
dent BleD, head of the largest society,
and an expert on their organization, is
preparing a report for the chief execu-
tive Of the United States. At the same
time other Americans are interesting
themselves in the societies. DR.. Pear
son, of Ohio university and formerly
commissioner of agriculture of New
York state, has been here for some
lime studying their methods. DR.. Maui
rice ESan the American minister, is
also preparing report on the socie-
ties Tor the American government
Cooperative Principle.
The fundamental law for the socie-
ties was passed in 1S4e, shortly after
the adoption of the Danish constitution.
The system is worked on the coopera-
tive principle A society of landown-
ers is orga nized with the object of Dor
rowing money Jointly. 1t minis its own
money according to daily requirements,
IN the shape of cash bonds on which
interest and instruments are to be paid
with mortgage security in fixed prop
erty under unlimited responsibility and
with reserve fund as an auxiliary
support During recent years the So
eieties have even arranged to give
loans, which are exempt from install
ment payments.
The bonds are put on the market in
the usual way and are subject to the
ordinary fluctuations of the stock ex-
change- Until the organization of the
societies II 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 actual commodities The credit
societies remediesd this condition and
the people Who had money TO loan were
10 longer afraid to part with it
King Repairs Bicycle.
If Christian y should ever lose his
crown as king of Denmark. he could
make good living with bicycle re-
pair shop, and lie already has the
promise of at least one customer
W nile driving with his sons recently
carriage. Although the accident was
Entirely due to The carelessness of the
bicycle rider, the king stopped the car
rage and went 10 tie assistance of the
young man, who was uninjured, but
whose machine was smashed
his majesty, who is very fond of
cycling and who repairs his own ma
chine, saw at once that he could put /
the broken bicycle in running order |
again The young man seemed quite !
helpless and stood looking on with his
hands in his pocket while the king 4
worked for 10 minutes repairing the
damaged machine When the king had
finished the work Athe rider asked for
MS card. promising to DatrOnize him
whenever his machine needed repairs.
As the young man stood with wide open
mouth looking at the kings name en-
grayed on the card. the royal party
drove away.
To Abolish Plural Voting.
During the coming session of par
lament the chief interest viii be cen
tered on the Introduction of the gov
eminent measure for the abolition of
plural voters for members of the lans-
thinger, the upper house OF tue Danish
legislature The Conservatives will
lose heavily by the abolition of plural
voting, and the present government
VIII not gain anything. while the rad
dcals viii have their voting strength
greatly augmented
BY the original constitution Of IS49
plural voting was prohibited, but in /
1866 a measure was carried permitting |
heavily taxed voters more than. one
vote for members of the upper house
As a counter demand the Conservatives
in the lower house will seek a measure
for proportional representation, a de-
mand which meets with opposition from
section of the democratic parties.
Unless all the parties modify their de-
mands, and the prospect for this at the
present time seems remote. it is hard
" likely that they Will reach an ami
cable agreement At any rate the COM
ing session promises to be exceeding
~ stormy.
Present Flag to King.
The American flag which was used !
during the ceremonies Of the opening I
of the Danish national park |
at Rebild Hills is now flying from the /
royal castle of Marselisborg. The flag
was presented to the king by the Dan /
ish-born citizens of the United States |
through Magnus Holm. Of Chicago. The
actual presentation was made by DR.. (
Max Henius
The king has sent the following let |
ter to Holm: Il send to yourself and (
request you to extend TO the other gen
tlsmen sincere thanks for the American /
flag which you presented to me through !
DR.. Max Henius. flag that besides re-
minding me Of the beautiful festivities I
of Rebild Hills also shows me your and !
other countrymen's love for your ma /
tive land. (SiSaed) Christian Rex" !
The flag, which is of silk and beauti- !
fully embroidered. bears the following /
inscription: "Rebild Hills, August 5, |
1912. with greetings from the United |
States"
SwindIer Amasses Fortune.
BY spreading the report that the 1
Danish copper cent coins Of the 1910 1
issue contained gold, q clever swindler 4
has amassed small fortune in Den I
mark. Before spreading the rumor the 1
swindIer acquired a large collection of 1
the 1910 issue of coppers. Then it be- (
came noised about that through a mis- ,
take in the mint gold had been mixed /
with the copper.
The price OF the cent pieces began
TO go up, some selling for as much as /
a dollar each With the market at the I
highest the collector distributed his /
cents judiciOusly among the clamorous 4
bidders and escaped before it became I
generally known that the coins were
worth only their face value.