The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1912-09-26
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Credit Societies Attract Atten-
ton of Taft Who Seeks
Information.

cessful operation OF the Danish Credit
Societies is attracting widespread in
terest, and the latest seeker after in
formation concerning these organ!za-
tons Is President Taft. President
Blem. head Of the largest society, and
an expert on their organization, is
preparing a report for the chief exec
tive of the United States. At the
same time other Americans are in
teresting 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. Maurice Egan, the American min
lister. is also preparing a report on the
societies for the American govern
ment.
The fundamental law for the soci-
ties was passed in 1S49, shortly after
the adoption OF the Danish constitu-
ito. The system is worked on the
Eco-operative, principle. A society OF
landowners is organized with the OBJ
ject OF borrowing money Jointly. 1t
minis its own money according to
daily requirements, in the shape OF
cash bonds on which interest and in
stallments are to be paid with mortg-
age security in fixed property under
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 and are subject to
the ordinary fluctuations of the stock
exchange, Until the organization OF
the societies 1t was almost impossible
to borrow money in Denmark, no mat
ter 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 remedies this condi-
ton 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 a bicycle re-
pair shop, and. he already has the
promise of at least one customer.
While driving with his sons recent
ly the king ran down a cyclist with
his carriage. Although the accident
was entirely due to the carelessness
of the bicycle rider, the king stopped
the carriage and went TO the assist
ance of the young man, who was un-
injured, but whose machine was
smashed
His majesty. who is very fond Of
yelling 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 pockets while the
king worked for ten minutes repair
ing the damaged machine. When the
king had finished the work the rider
asked for his card, promising to pat
ronize him whenever his machine
needed repairs. AS the young man
stood with wide-open mouth looking
at the kings name engraved on the
card, the royal party drove away.
During the coming session OF parli-
ment the chief interest will be cen
tered on the introduction of the gov
eminent measure for the abolition OF
plural voting for members of the
Lansthinget, the upper house of the
Danish legislature. The Conserva-
lives will lose heavily by the abolition
of plural voting, and the present gov
eminent will not gain anything, while
the radicals will have their voting
strength greatly augmented.
BY the original constitution OF 1S49
plural voting was prohibited, but in
1866 measure was carried permit
ing 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 measure for proportional rep
resentation, a demand which meets
with opposition from section of the
Democratic parties. Unless all the
parties modify their demands, and
the prospect for this at the present
time seems remote, 1t is hardly likely
that they will reach an amicable
agreement At any rate the coming
session promises to be exceedingly
Sonny.
The American flag which was used
during the ceremonies of the opening