Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-12
RURAL
CREDIT FREES
PEASANTS
American Expert Declares Farm
Banks and Societies Have Rev.
oIutionized Agriculture,
BY A. E. TATE.
Member Of the American Agrioul-
AnraI CnnnrniasinnN

by n. +. IA <.
Member Of the American Agrioul-
turaI Commission.)
Special Cable to The Atlanta Georgian.
LONDON, July 12.-Since our COM
mission reached Europe. on May 10.
we have studied all the cooperative
agricultural systems and methods OF
rural banking in Italy, Hungary,
Austria, Germany. Russia, switEer-
land. Belgium, Holland. Denmark.
Norway, France England and Ire
land and have found these systems
of rural organization have practically
revolutionized the agricultural deVel-
opment of these countries.
1 found at the head OF many OF
their banks and societies some Of the
best men in the communities men
who have caught vision OF nobility
in this service to their fellowInen
and who are devoting their lives TO
this work with practically no none
tary compensation.
Farmers, who, for centuries, were
downtrodden peasantry, are being
lifted up to a state of independence
and freedom such as was never seen
before, through the medium Of these
cooperative agricultural societies
and credit banks.
Once Robbed by Usurers
Formerly they were forced to OBJ
tain their financial requirements from
persons who distracted from them
usurious rates Of interest and in
fiicted upon them hardships of all
sorts, even to refusing TO renew loans
and taking property.
Now they are able to secure their
accommodation from their co-opera-
tive rural banks at rates of interest
varying from 2 IL to per cent,
according TO the length of time re-
CURED and the character of loan
made.
The farmer thus is able to Sc
cure these loans at such a reasonable
rate and on such liberal terms that
he is amply able to discharge his OBJ
legation at maturity with perfect ease
Both the Raiffeisen system and land
mortgage banks are used.
Credit Systems Vary.
The Raiffeisen system, with Its un-
limited personal liability, and the land
mortgage band, with its long time
amortization feature, which allows re-
payment of a loan covered by real
ment of a loan covering a period of
10 to So years time, vary in different
countries.
I have not found in any country
yearly rate payment, including In
terest and expenses of amortization,
which has been more than 5 1-2 per
cent on the amount borrowed, which
is less than the straight interest in
North Carolina, not to say anything
about the commission which the
farmer has often to pay to secure
money.
Governments Lend Aid.
There is one thing they have here
which is a great factor in furnishing
cheap money for the farmer and
that is the Governments In those
countries are right behind the CO.
operative societies TO encourage them
in every way possible. They have
come to a realization that tits only
when a farmer is prosperous the
country is able to make a real cub
stantial advance along all lines and,
without this, there must be retro
gression and decay.
So Governments have grasped the
full significance of what It means to
have a well-organized, systematic
agriculture and they neglect no OPP
pOrtunity of developing their agri-
cultural resources.
While there is much to learn along
cooperative lines from Continental
Europe, we can learn very littlee
from them in the way of social con-
ditions or country life. In nearly all
the countries we visited we found
women doing farm work.
In a few countries, we might say,
women do the major portion of field
work. This should not be, in my
opinion, and 1t is a serious defect
in agricultural conditions, and should
be eradicated, If the highest order
of the country life is ever to be de-
veloped.
Army Steals Young Men.
This condition is brought about,
no doubt. party by heavy war foot
ing in thees countries, as young men
are enlisted in the army and navy
and thus farms are robbed of their
services
One thing certain we have learned,
that cooperation is a success In
Europe and there will be no difficulty
in our commission agreeing on that
point. Whether that can be applied
TO the different States remains to be
seen. Naturally there would have to
be some legislation enacted in both
Federal and State Legislatures that
would enable the farmers to organize
under cooperative system
The American Agricultural Com
mission visited Ipswich to-day. and
inquired into the working of tho
Eastern Counties Farmers Co-opera-
tive Association and subsequently in
spected Lord Rayleigh's farm at Hat
field, Peveril