The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1914-05-01

Copenhagen, Denmark.-The Ameri-
can banker must reform. II he does
not he will be up against 1t as are
others who refuse to mend their ways.
The American farmer cannot get
money of American bankers upon
terms suited to his needs. He is 60
ing to have the money from some
source. II the banker will not give
It to him he will organize a new kind
Of a bank, for you may rest assured
that the American farmer is going
70 have an opportunity to borrow
money upon some suitable basis. The
Irish farmer can get money on favor
able terms; the Belgian farmer CO.
operating with his neighbors does his
own banking; in Germany the CO.
operative banks do a business that is
astonishing in its volume; in Denmark
It is easy to get money for buying a
farm or for temporary investment in
seeds, fertilizers or stock. The same
is true OF the farmer in Italy and
France; even in benighted Russia
farm credits are cared for by CO.
operative organizations.
Do the bankers of America think
that the American farmer is going to
consent to continue to be the only
civilized agriculturist who has no ade-
quate borrowing facilities. That is
not the American way. What, then,
can possibly prevent the formation of
cooperative credit associations all
over America? Nothing, except the
presence of some institution that will
do for the American farmer what CO
operative credit is doing for the Eu-
ropean farmer. If the American bank
er wishes to do the banking business
of America so far as the farm is con-
cerned, he and he alone can give the
farmer this sort of an institution and
thus make cooperative credit socie-
ties unnecessary. 1t is up to the
banker.
Capital for Farming.
Formerly when an American farm
could be acquired by living upon it,
when horses and cows and implements
were cheap, and when fertilizers,
blooded stock, and special high-grade
seeds were unknown, a young man
with comparatively little capital could
begin farming. Now considerable capi-
tai is as necessary to success in agri- |
culture as it is in the manufacturing
Industries. Every wise farmer knows
that money judiciously expended in
better stock, better buildings, labor |
saving machinery, proper fertilizers, |
and good seed will net large returns. |
But It takes money to do these things. |
Consequently there is a demand for |
loans.
In America the farmer can seldom
get loan on terms that meet his |
needs In Ireland, Belgium, Germany, |
Holland, Denmark, France, Italy and |
elsewhere upon the continent the |
banks have forced the farmers to or
ganize cooperative credit societies. In
many instances the government also
has aided the cooperative banks in
obtaining money for loans. These So
Cieties are taking safe, profitable |
business away from the bank. Now |
when 1t is too late the banks realize |
their mistake.
The question just now is this: VIII
the American bankers forestall CO.
operative credit companies by meet
ing the needs of rural borrowers or
will they force the farmer to go into
the banking business as did the bank
ers of Europe? 1t is up to them. VIII
they beat cooperative credit banks
by beating them to It?
Buying Farm Easy In Denmark.
To buy farm there are a number
of different methods open to the Dan
ish farmer 1t must be remembered
that in Denmark a farm is consid-
cred as having live stock and imple- !,
ments used in working the land in
separately attached to 1t, hence the
purchase price to be paid includes all
equipment necessary to the operation
of the farm and all mortgages are Sc
cured by a pledge of this personal
property as we'll as of the real estate.
If the would-be buyer has forty per
cent. of the purchase price he may
apply to credit society for long
time loan amounting to sixty per cent.
Of the value of the farm and all equip
ment and stock upon it. The loan may
run from forty-hve years to seventy
nine years. The borrower has his
prospective purchase surveyed and as
sossed. He makes out a mortgage and
delivers 1t to the cooperative society.
This mortgage and hundreds of 9TH
ars like It are delivered to trustee
with a trust deed which pledges them
Rs security for a series of bonds. The
cooperative society guarantees the
bonds also.
It B from the sale OF these bonds
that tho cooperative society obtains
tts funds. These cooperative credit
associations have in the beginning no