The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1913-07-30
FLETCHERTELLS
Of METHODS
0FlIEUROPEANS
COMMISSION HAS FINISHED
TOUR AND WILL COMPILE
INFORMATION OBTAINED
TellS Of Personal Credit Societies
and Land Mortgage
Associations
(By Winfield Jonea)


ity Of the development Of q uniform
system of rural credits and an or
gsnized and united rural population
in this country is suggested in q
statement made public here by Sen
ator Duncan U. Fletcher, of Florida,
chairman of the American commits
sion on agricultural cooperation,
and president of the Southern Com.
mercial Congress. and by Dr.. Clar-
ence J. Owens, director general OF
the commission, on behalf of that
organization. The commission has
returned after three-months' study
of conditions in fourteen foreign
countries.
It is planned to open permanent
headquarters for the commission in
Washington Immediately, with DR..
Owens in charge. In November the
entire commission will assemble here
to pass upon a final report. which
will be sent to Congress-, to the gov
ernors of States, officials Of the Ca
madam government, and to the
Southern Commercial Congress.
A compilation committee, ap-
pointed to draft the findings Of the
commission, consists of Dr.. Kenyon
L. Buttertield Of Massachusetts, DR..
John Lee Coulter of the census bu-
reau, Leroy Hodges of Virginia,
Robert L. Munce and Charles F.
Bailey, minister Of agriculture in the
province of Ontario
An advisory committee will con-
sist Of Dr.. J. e. Stubby Of Nevada,
DR.. H. A. Morgan of Tennessee, John
Cunningham Of Ohio. Robert Van
Cortlandt of New York, w. B. Hatch
Of Michigan, Col. j. s. Williams Of
Texas and E. L. Daughteri6ge.
A statement given out by Senator
Fletcher follows:
1.-THE American commission on
agricultural cooperation has COM
pleted its tour Of European countries
and has perfected plans to digest
and compile the information ob-
taine1 with regard to cooperation
and the organization Of rural life in
European countries along financial.
business and social lines. It is be-
Aeved that this task can be completed
before the end Of the present year,
when the final report of the commits
sion will be submitted.
"The commission Is deeply i'm
pressed with the vital importance
Of thoroughly organized and unit
ed rural population. In this respect
the countries Of Europe offer a les
SON which nay not long be disre-
garded in America without serious
1.-The agricultural interests Of
most of the European countries Wis
ted by the commission are orga-
1izad along one or more of the fol-
owing lines: Credit. production, |
and social organiza-
ion for the betterment Of country |
ife.
"organization for the provisions
Il credit facilities for European
armers follow the natural division
nto short time. personal credit and
ong time. land-mortgage credit.
he organizations for the provis-
on of perconal credit facilities are
. highly developed % are the o.
ems of commercial banking. The b
revailing rate OF interest paid BY
he farmers for short time loans 10 j
rom I to 61-2 per ceptsg Tho
erms afforded European tarm rmers .'
70 generally better designed tSl
rect the peculiar requirement Of /
gricultufists than are the terms
btainable today by the American ,
.rmers. II
"Land-mortgage credit has been {
.ganized so as to place collec- 9
ve security back Of bonds issued Z
: land-mortgage societies in con-
asst with the system Of marketing G
dividual loans upon individual I
ortgages. Without discussing the
rm of organization employed for !
10 purpose, 1t may be stated that d
ese land-mortgage institutions b
ing to European FARMERS low in I
rest rates; the privileges Of re- "
ying loans In small fixed annual II
stalimerts extending over . tsrm Il