New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-12
BUSINESS PROPOSITION
FOR REPUBLICAN CLUB
Members Come to Hear Speech
and Editor Invites Them
to Buy Farms.
CREDIT SCHEME THE BASIS
Walter H. Page Says He Can
Revive the Art Of Farming
and Still Pay 5 Per
Cent on Investment.

Walton. a Page editor OF The Worlds
Work. knocked the breath out Of a
.o,mf,l Of Republican club members
.rs,crIav bv making them business
uropositiou i'm lieu of a speech When
ft.y had recovered from their surprise.
however. they signifed their approval Of
,nc substitution by hearty applause.
They had not expected. perhaps. that
,aa subject Of Land and Agricultural
credits" could become for them so con-
crete and exciting.
"i,at's g 20 work." said Mr.. Page TO
his audience. which had gathered TO take
mart r tle Republican Clubs first Sat
ur..t DISCUSSION" of the season. We
cau.r a.lp things by organizing a hun
dr.J more societies TO study the ques-
ton bought farm myself and |
found that il needed more money for its
development than ] could afford to put
into il.
Now | will make a proposition 70 you
New York men. I'll go and organize
my neighbors into a little credit COM
munity. You form a little society Of
your own and lend us anywhere from
5000 to 100000 Wen pay you per
cent-anybody would lend II to us for
land I'll get you the signatures Of ten
responsible men on your paper. Let's
start the Raiffeisen credit system right
here. If you want 20 help the farmer
here he is"
Scheme a Big Success in Europe,
OF course. Mr.. Page had previously de-
scribed the Raiffeisen system of agricul-
tural credits, practiced with great sue
cess in Germany Austria, ireland and
other European agricultural countries
Briefly, as he explained il. il provided
for loans 10 individual farmers, secured
by the signatures in each case of the
farmers responsible neighbors. The
farmer reciprocates, in turn, by signing
his nciChbors' notes Each loan in the
community becomes by this process an
unlimited liability against the pocket
books Of the entire union or community
which naturally becomes collectively ana
Individually intensely interested in the
wee use Of the money. II had worked
wonders i'm Germany and Ireland, Mr.
Tage said
tie was willing. he said. TO reverse the
prouosition. If anr member Of the au-
dieucc had a farm. ca farm for produc-
tive purposes and not 10 raise dogs on
and play ON in the summer" and would
orgarizc his neighbors, he. Mr. rage.
Would Willingly become the member oil
i'm, lending group to supply the farmer
and his nciChbors with money. secured IN
each case by all their signatures.
"Iu work either end Of this line or
both" said he. The thing is to start II
.oing Let's put mp or shut up.
Herbert Mvrick. editor Of the Orange
rrdd farmers weeklies. who followed MI.
rage was described 10y Edward KELLOGG
Baird. who presided. AS the member oil an
agricultural credit union already dong
business in Springfield. Mass. along the
limos which Mr. Page had suggested. MI
Nvrick. however. did not seem so Keen on
bringing outside financial aid to the farm
.r as on providing the farmer means
whereby he could lend his own surplus
cash to his neishbors.
Banks Instead Of Wall Street.
Mr.. Page had painted the farmer IN
rather doleful colors Mr.. Myrick foun|
him owning automobiles and with cash IN
the bank. but under the present system
his cash flowed to Wall Street to excite
Speculation. said the farmer-editor, while
Under the system Of local cooperative
credit banks which ne proposed II wouIP
90 10 the farmers neighbOrs for produc-
tive development Of their land In add
ton 10 the local cooperative credit banks
whose purpose would be 10 lend small
sums on short time notes. he would nave
Established central land banks TO lend
the farmers larger sums for longer terms
on land mortgages.
RE complimented the Republican Cluo
On taking up this pressing, non-parusan
question, saying
you were licked here month ago or
so. It's the best thing, that ever happened
q YOU"
Others speakers were Z. y. Breitung, a
member Of the committee appointed by
Ambassador Herrick TO investigate credit
IN Europe Charles A. Conant, American
lelegate tc the Hague Conference on Bits
Of Exchange: George X. Holmes, statist-
,csl scientist i'm charge Of the United states
Department Of Agriculture, and Leonard
G Robinson general manager of the jew
ish Agricultural and Industrial Aid So
,ety.