Rogue River courier. (Grants Pass, Or.) 1886-1927, 1913-07-11
LIKES GERMAN FORM
OF CREDIT SYSTEM
(By I'D. L. Keen, London Correspon-
dent of the United Press.l

dent of the United Press.)
London, July 9.-Longer terms
for loans, cheaper money for farm
ers and establishment OF co-opera-
tive banks in rural districts are some
of the important reforms which Will
be urged by the American Agrlcul-
tural Commission which has been
studying agricultural conditions IN
Europe for three months according
TO Director General Clarence j..
owens. who heads the delegation OF
rs members representing thirty
states which arrived in London TO-
day from Paris. Director General
Owens and other members OF the
commission today, for the first time
agreed to publish, through the me-
dium of the United Press, the details
of the three months study and the
legislation that the commission Will
urge congress to put through. The
statements are the first comprehen-
siye and official ones that have been
made by any member of the commits
sion. which has just completed a tour
of Italy, Austria, Hungary, Denmark,
Belgium, Holland and France. the
Americans will stop here three days
before touring Ireland They will
sail on the Cedric for America on
July IS.
Everywhere" declared Director
Owens. we found that the wonder
fully efficient farming systems of
Europe and especially crowded Ger
many. have been almost solely due
to the systems of credit available to
farmers. While we did not find any
European farmer more competent, or
more able or more industrious than
their brothers in America, we did
find that the European farmers get
more out of less territory than the
American farmers. And | believe
this is due to the system in vogue of
long term loans, cheaper money, CO.
operative banks, and integrity and
character as an important factor
when fnanciers are looking for Sc
curity for loans"
Doctor Butterfeld, of the Massa-
chusetts Agricultural College was
enthusiastic over the work of the
commission. He believes that its
report is of deepest interest and OF
vital importance to every farmer in
America. Il am more than salts
fed with our study abroad said Dr.
Butterfield. Il heartily agree with
what Mr.. owens has said. The great
farming efficiency of Germany can
be laid directly to the system OF
cheaper money for the farmers and
to cooperative farmers banks"
] S. A. Lindsey, chairman of the
Texas Farm Life Commission was
deeply impressed with the co-opera-
tive banking of the German farmers
I'm Germany the borrower, particu-
larly the farmer, receives far more
consideration than at home" he said
Industry, character and reputation
are the chief securities for loans
and yet losses are comparatively
rare. AS a result of our tour, | am
convinced that the terms of our farm
mortgages must be longer. We could
well adopt the German plan of grad.
ually paying off mortgages. For in.
stance, here farmer will pay ) pei
cent on his loan Four of that is in.
terest and the other one per cent ap.
plies on the principle"
Clarence NJ. Smith, banker of Sar
Francisco, believes the German
small farm plan ought to be tried il
California. believe" he said
that if some of the ten and twent!
acre farms were laid out in such ;
way that the houses were at som,
central point, each farmer living up
on an acre of ground. thus forming
villa colony or village, it would g
far toward solving the problem o
social life on the farm"