El Paso herald. (El Paso, Tex.) 1901-1931, 1912-11-30
ENGLAND WILL
Try RURAL
BANKING
Credit Institutions Similar
to Those in Germany to
Be Started.
GERMAN INVASION
WORRIES OLD LONDON

London, Eng, Nov. 3O.-The presi-
dent Of the board Of agriculture an
nounces that he viii soon introduce in
the house of commons a bill providing
Tor the establishment in England and
Wales Of system of rural credit
banks, similar to those in the Scandi-
navian countries and Germany.
It is expected that certain of the big
joint stock banks of London will be
asked to cooperate in providing funds
for these institutions, which will thus
have a better start than those which
have been started practically as local
lending agencies Many suggestions
have been offered for the original bill
but IL seems to be agreed that the land
banks shall in their working be as CO.
operative as possible
Alien Population Large.
That the east end Of London con-
tains large population which never
becomes naUuraltzed IS indicated by
the fact that in the Whitechapel dis
trict, where sir Stuart Samuel may be
compelled to stand for reelection be-
cause Of TIE dealings Of his bank with
the supply of silver coinage for India,
in a population of $4,000 there are only
1000 electors. This means that there
are thousands of Jews and other for
eigners in the district who remain per-
manently an alien population. 1t is
believed that sir Stuart Samuel win
have no difficulty in retaining his
seat which he won by a majority of
800 at the last election
University Fight Promised.
The reorganization of the University
OF London, which will take place when
a new site is selected for the uniEer-
slty buildings, will witness a hot fight
between the interests which wish to
abolish the external classes Of the uni
yersi-y and those who want to keep
intact the only means in England
whereby the poor may obtain the rudi-
ments Of collegiate education.
The external system OF the Univer-
Slty OF London is an application on a
larger and more practical scale Of the
system OF university extension lee
lures prevailing in America. Many Of
these courses are given in different
parts OF London at night and facili-
ties are provided for students to do in
dependent work away from the regular
headquarters Of the university.
The continuance Of this external side
Of the university has been strongly
condemned by certain influential mem
oers OF the commissioners of the insti-
tuition, but the door which has been
inTiEngly held open to so many poor
students will not be closed without a
strenuous protest from thousands Of
the sons and daughters of the univer-
sity.
German Invasion of London.
The industrial invasion of Egypt By
the Germans is seriously disturbing
English financial circles, especially in
view Of the fact just disclosed that
one Of the biggest German agricuI-
tural concerns in Upper Egypt was
originally financed by London banks.
The agricultural possibilities Of the
region in which the Germans are work
ing was discovered by an expert Eng
N1sh 1rrigatiOnist, who strOlled into
the country on his way home from
some irrigation works in Asia Minor.
He stopped near Luxor and after pros
peeting about in a desultOry manner
discovered artesian water. Shortly
after this discovery, according to his
story, German commercial traveller
wandered into his camp and the lonely
Englishman in the pleasure of seeing
a white man forgot his traditional
aIootness and told him all about the
possibilities Of the country due to the
discovery of artesian water. The Ger
man went on his way and the engineer
to search for the wonderful
ancient pottery sometimes found in
the region In six months the German
was back with the necessary equip
ment and machinery for boring wells
and within two years the desert was a
garden, paying 20 percent dividends to
It's German owners. On his belated
return to London the disguised en-
gineer found that the German COM
pany, which had undertaken the work
had borrowed the money to under
write its bonds at a low rate from
London banks.