The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1914-01-27

vantage of the established reputation
of one person by another: discrimina-
tion in prices based on whether a per-
son deals exclusively with q given
person, firm or corporation; refusal to
sell to or buy from a person because
that person deals with another; divi-
sion of territory to prevent competi-
tion, and unfair manipulation of prices
to destroy competition.
1t is further set forth that a market
bureau could promote efficiency and
economy in the production and dis
tribution of farm products. Informa-
ton could be furnished through bull
letins and lectures. A market news
bulletin should be conducted. In this
way the farmer would be informed on
cooperative production, buying and
selling efficient accounting and busi-
ness methods; legal procedure to be
followed in forming and conducting
cooperative enterprises; legal rights
and duties of such enterprises, cost
of shipping, etc
The plan also contemplates the es-
tabishment of city markets, where
farm produce could be made easily
accessible to the people, The market
bureau should arrange for farmers to
procure farm-rased goods not exten.
sively grown in Ohio, directly from
farmers organizations in other states
Investigation should also be made OF
the practices of commission mer-
chants and recommendation made as
to whether or not loans should be
made to them, and if so, to what ex-
tent.
Senator Cunningham and Represen-
tative Brown say that there is little
authentic data on rural credit in Ohio.
The farmers, they say, obtain their
capital from the banks, building and
loan associations and individuals.
Their total mortgage Indebtedness in
1910 was close to $64,OOO,0O0 The
private and state banks furnished
one-half of this and the building and
loan associations one-fourth.
Mortgages run from one to sixteen
years, but generally are not limited
to a specified time. Interest rates
range from six to eight per cent, but
are more common at six and half
per cent. Practically no cooperative
credit institutions exist in the state.
Loan associations encourage thrift on
the part of the borrowers. Local bus
mess men frequently make it a prac-
tice to extend credit to the farmer un-
til he can market his produce.
"The whole system in Ohio is very
unsatisfactory and antiquated," de.
clared Senator Cunningham and Rep
resentatiye Brown. Interest raten
are too high. The. amortzation plan
OF repayment, such as Is used in
parts of Europe should be encour-
aged" This plan spreads out the
financial burdens over long periods
The report tells Of the advantages OF
the regional banks Of France These
are state Institutions and intermediate
between the bank OF France and lo-
cal banks, They obtain from the
state without interest, four times as
much money as they receive from To-
cal banks These funds are loaned
to local banks at three per cent, in
terest Loans are for three months
with not more than four renewals
Our aim has been to give to the
people OF this state a plain statement
of facts concerning the institutions
for rural credit and cooperation in
Europe" said Senator Cunningham
andRepresentatiye Brown. THE pres
ent status of cooperation and rural
credit in Ohio has been presented
more by way OF contrast than with
an idea that 1t presents a large
amount of information. If by this
contrast the farmers of Ohio are led
to see the need Of cooperative effort
and better credit facilities, our pur-
pose will have been accomplished"
The commission, of which the Ohio
Legislators We're part, visited Italy,
Hungary, Austria, Germany, Switzer-
land, Belgium, Holland, Denmark,
Russia, France, England, Ireland and
Wales. In these countries co-opera-
tion applied to agriculture is well es-
tablished and its benefits are good,
The culture of poor and neglected
lands has been made profitable owing
to the increased profit and productiv-
ity given by cooperative efforts.