The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-04-19
WOMAN DISCUSSES
FINANCE WITH MEN
DIR. LILLIAN JOHNSON ADDRESSES
CONFERENCE.
TALKS RURAL CREDIT
CONSIDERED AUTHORITY ON SUB
JECT AND WILL VISIT EU-
ROPE WITH GOVERNMENT
COMMISSION.

The spectacle of stately, attractive
woman discussing with rare intelli-
genCe and evident knowledge the SUBJ
ject of banking and finance with
bankers, college presidents, business
men and Intellectual farmers was an
incident which greatly interested visi-
tors to the conference on cooperative
local credit associations yesterday af-
ternoon
The woman was. Miss Lillian John
son. or rather DR.. Lillian Johnson,
for she is a Phi. ID. OF Wellesley coll
lege, and one of the brightest women
In America. She has taken an i'm
portant role in several national move
ments connected with the business and
religious world, and at present is en-
gagged by the Southern Commercial
congress in connection with certain
extension work looking to closer CO.
operation between the business men
and the farmers
A Student of Finance.
Miss Johnson has made a study of
the financial and business systems of
Europe and has taken more than one
post graduate course abroad, and on
April 26th she is going back to Europe
with commission, appointed by
President Taft, to study the rural
credit systems OF Germany, France
anu Italy Asilt Is Gil easy 81 ofVAhA
speaker. weighs her words carefully
and speaks to the point without waste
of words or sentiment, and yesterday
the assem- hiage of earnest men heard
with breathless attention and interest
the sage advice on certain features of
banking and credit systems that fell
from fler lips Miss Johnson has made
a thorough study of the allied sub
jects and gave the conference some
hal formation
of rural banks and the methods of
cooperation.
Big Guns Absent.
HarVie Jordan, president of the
Southern Cotton association, who was
on the program to give the conference
the outline of practical plan which
had been utilized by the cotton farm
ers Of the South, was unable to be
present aud the conference was also
disappointed in the absence of NJ. AL
phonse DesJardins. of Canada, who
was 10 have explained the system of
rural credits which obtain in that
country Herbert Myrick, of Wash
ington. was also absent, but sent the
manuscript of his address, which was
read by Professor L. A. Niven, editor
of Southern Farming, The reading
of this address was on the subject
OF "CO-operative Finance for the
American Farmer and the discussion
of ii occupied practically all the time
of the session. DR.. {, c. ThaCh. of
Auburn Ala, who is the chairman,
insisting upon informality in all of
the discussions as far as possible in
order that the confreres might obtain
the best results from 1t. The con-
ference did not adopt any resolutions
or attempt in any way to summarize
/ conclusions, the only official action
! being the reelection of its able chair
/ man 1t has no secretary.
I Mr. Myrick, in his address. outlined
practical plan whereby the co-opera-
4 tive land banks might be organized
( and conducted, his plan calling for
/ State legislation to make it effective.
( The discussion upon the various
/ phases Of the plan were full and free,
I the conference resolving itself into an
+ experience meeting,
The North Carolina Plan.
/ w J. Shuford, of Hickory, n. c.,
J who is both farmer and business man,
and whose discussions in this and
I other conferences have been most
! helpful to the delegates, related his
/ experience with the local building and
j loan association movment. His atten-
/ ton was first directed to the value of
! this plan when he married and want
ed to build home. He simply took
/ fifty shares of building and loan stock
{ on WnlCD ne nA1U tWenty-ilNe Genus per
/ week and in six years and Ave months
/ he held the title to "a $4,000 home and
! didn't owe a penny on It. The rate
/ of interest was per cent. He and
1 his fellow business men and farmers
1 have recently organized one of these
I institutions for the purpose of making
! loans, small or large, to farmers, The
association has capital stock of $50,
/ 600 TO start with, and has arranged
| its plan so that the loans will run
/ twelve months at 6 per cent. BY this
method the farmer can borrow what
! he desires on first mortgage and re-
/ pays it in small instalments each
week. For example, 500 would cost
/ him only fifty cents a month. The
association has just been organized
and Mr. Shuford wasn't prepared to
| say how it was going to work, but
| under State laws these local associa-
| lions are in operation all over the
! State in the cities and towns and he
! had never known of. one to lose a
/ dollar II it worked for the city man
/ and enabled him to buy a home on
/ the instalment plan without a cent OF
capital. 1t ought to work great things
for the farmer.