Norwich bulletin., 1913-03-08
A REVOLVING FUND THAT SPELLS
RECIPROCITY

(Written Specially for The BuIletin)
 There's a. great deal of talk. these
 days, about farmers credits. Some
 of the self-appointed doctors who feel
 EiNinely commissioned to remedy the
 agricultural troubles of the land try
 to make out that banks from which
 farmers could borrow money little
 easier would about solve the problem.
 Now i, personally, think cash IS a
 better feilo" than credit, any time
 Personally don't banker after 2
 mortgage for 8 pet. l can't help feel
 ing that the farmer who starts out
 by running in debt has made bad
 beginning IL is quite possible that
 under certain exceptional circuul-
 stances, the farmer must go in debt
 Then I'm sorry for him. Of course,
 if he must" he must, and that's an
 end on it Any port in a storm But
 il doesn't seem to me that such
 mans misfortune should be conSid-
 cred a peg to hang opportunities for
 others upOn-
 Nevertheless and notwithstanding, I'm not running the world and other
 people look at it through different
 cracks in the barn. There are good
 many who are deeply interested in this matter of farm credits. A little happening out in Bemioji Minn.. last winter, seems to me to suggest pos sible way in which farmers might manage to secure the most eA1%s6ilt credit possible a-t the very cheapest rate
 The country around Ben1idii is said to be almost ideal for sheep ranches There are no sheep there. at present for the reason that the farmers who took up the land followed out the orthodox western system of corn and HAeat,-or tried to. Now that ex- gzerience has shown them their farms are better adapted for sheep pa-stur- age, they lack the knowledge how t" get the animals, and what would be the best breeds for them They are also short of money to buy large docks at high prices
 This is where the Bemidji Commer- cial club came in.
 I suppose the Commercial club out there is about the same thing as a Board of Trade or Chamber of Com nerce in eastern cities The Com merciaI club talked the matter over with some of the farmers. Also with the Great Northern railroad people Then, one afternoon between two and four, they raised q revolving fund.- of thousand dollars.
 This is something of novelty in the line of reVoIVers. and both idea and name are striking. Moreover, the idea involved seems to be exceedingly i simple and practical. The Commer- cial clubs committee is to learn by COuSuIId4iOu Will SiiSSB experts WfIdL sort of sheep are best fitted for Benlidji's needs. It is next to find out. by means of blanks sent around to the farmers. how many can handle 1 sheep, how big flock each can take care of. how much feed he has. and l how much he is able to pay. Then, 1 with the assistance of the railroad, | the whole combined order is to be 1 prices possible in wholesale pur l chases: paid for with the revolving | fund.-" distributed according to de- Inand among the different farmers; revolving fund.- exactly cost In this way, as one trip is completed, the fund is renewed as good as ever and ready for another turn
 The railroad figures that is can afford to bring in the sheep at a very low freight rate. because it will, later, have wool and mutton to ship out at higher rates The Commercial club figures that it can afford to put up the money because ft will promote trade, increase the buying power of the surrounding country. and return ] big interest in the way of enhanced prosperity The farmers figure that it will help them by enabling tht.A ta stock up at lower prices than they could possibly hope to get, each one buying alone for himself in com petitive market
 As a scheme on paper, that Bem- 1du idea looks pretty good, seems t9 me Of course it has yet to be worked out in practice And there may be holes in it. Very few human devices have yet proved perfect ir practice
 But the plan is extremely simple and economical to work, It doesn't involve any new laws, or the incorpo- ration of any new credit institution 1 It takes existing organizations and 1 W orks through them It enables the 1 farmers to make their fresh start without running into debt, For while one farmer may find money to | pay for hundred sheep his neighbor many not be able to scare up enouell | for more than half-a-dozen, The l revolving fund" will get him his llalf-a-dozen, just the same, as starter, Each one will be supplied f with what he can pay for and what l r he can feed, but without the necessity | of long and expensive journey to 2 hunt them up and at lower prices f than he could possibly secure if buy V ng for himself alone. s It's simply a combination of Com narcisi club, railroad and farmers to lelp each other for the ultimate ad- antage of all. It's charitable movement on the | aart of the club. for It's members, all : business mon, confidently expect tJ rade their money will stimulate than hey could get by investing it in ponds or stocks. b Nor is 1t recIsoned bad business by G he railroad, for that. too, locks for u