Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-07-12
RURAL
CREDIT FREES
PEASANTS
American Expert Declares Farm
Banks and Societies Have Rev.
olutionized Agriculture.
BY A. {. TATE.
(Member of the American AaricuI-
4ursI C1-,,,iesian

Special Cable to The Atlanta Georgian.
LONDON. July I2.-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, Switzer-
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.
l found at the head Of many Of
their banks and societies some of the
best men in the communities, men
who have caught a vision OF nobility
in this service TO their fellowmen
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 seer
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 abstracted from them
usurious rates of interest and in
flicted 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 IL to per cent,
according to the length Of time re-
quired 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 I'M
limited personal liability and the land
mortgage band, with it's long time
amortization feature, which allows re-
payment OF a loan covered by real
estate mortgage in small yearly pay
ment Of a loan covering a period of
10 to IS 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 IL 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 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 sub
| stantial advance along all lines and,
without this, there must be retro
! gression and decay.
| So Governments have grasped the
| fun significance OF what it means to
| have 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 il is a serious defecI
in agriculture 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 the
! Eastern Counties Farmers Corpora
/ tive Association and subsequently in
| spected Lord Rayleigh's farm at Hat