American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1914-03-19

sver, and the words Of tbs inspector
lad their effect for they promised that
b~usiness-like methods would pre-
rail in the future.
Good Business Methods.
The inspector had not only full
knowledge OF cooperative concerns,
put was evidently in addition a skilled
accountant, and pointed out why the
books must be kept according TO the
uniform system OF accounts econ
nended by the Irish Agricultural Or
.ganizatiOn society. A must searching
annual audit Of accounts is also re-
CURED performed by either an Off
,ial public auditor appointed under
he Friendly Societies act or by per
IONS selected by the members at the
annual meeting. Everywhere, as here.
we have found that good business
and accounting methods are en-
ployed and that careful audits are in
sisted upon and considered necessary
to the success Of these societies. II
there is any lack Of these qualihca-
lions in the farmers who are the bank
srs, the lack is supplied by the l. A
o. 8. through their inspectors and au-
iitors.
Farmers Can Be Good Bankers
We came somewhat doubling wheth-
er a farmer could be a banker. We
90 away convinced that the farmer,
II assisted by good supervision and
inspection. can be at once a good
business man and a kindly n%eighbor.
Here in this Foynes society Is a com
mittee of business men who are will
ing to come together TO consider loans
Of the most trivial amounts and TO
meet periodically and discuss meth
DDS Of bringing more money into the
little community to be loaned out 10
those needing it. They are ready to
go over all the petty troubles and
trials and misfortunes OF the unfor-
tunate borrower, 10 discuss ways and
mean of helping the weaker brother
pay his debt. These men are In fact
bearing the burdens of an entire
community so far as the small bust
ness difficulties are concerned. AL
are most anxious to see every farmer
able to buy good seed, good manures,
good stock and to improve the posi-
ton OF himself and family. yet equally
anxious to protect the funds of the
bank.
II is a question WHETHER the board
Of directors of any big financial house
who sit in richly upholstered chairs
around Circassian walnut tables evei
more efficiently discharged the du
ties Of bank directors than have thii
group Of mud-bespattered farmers sit
ting IN cheap wooden chairs arounC
this pine table.
One Man One Vote.
This cooperative banking associa
ton at Foynes is under the absolut'
control OF the farmers hereabouts
This control is not centered in a few
rich members who have furnished tn
capital. Each member has n vote
irrespective OF his investment. Their
is no massing Of votes in the hand
Of those who have the most money /
the eoncern Here men carry tn
voting power, not money. The co-oI
erative idea is essentially democratic
Experience shows that 10 other syl
tenn succeeds. For one man to POI
sess twice as much power as hi
neighbor renders an association 4
longer truly cooperative. Before tn
principle was recognized, when on
or two members might out-vote 10
members, more than one co-operativ
effort went to pieces.
The average farmer member is poo
He has never handled money. II
may never have made g loan. H
knows nothing Of banking forms,
bank bookkeeping. Of the legal right
Of borrowers or OF lenders. He is a
easy-going. good-hearted Irishmal
Men Of this type control and make u
the loan committee, which must pas
on loans, enforce collections and d
eide on all minor questions relatin
TO the policy Of the organization. Ho
can such members be good bankers
In America it takes shrewd. wei
trained business men to make a ban
succeed. They know more OF bar
accounting than do accountants. The
know as much Of banking law as
lawyers. They have by long stud
OF their subject become familiar wit
every phase of it. How then can thei
happy-go-lucky Irish farmers becou
%successful ~inanciers?
The answer, or the biggest part
the answer. is that the Irish Agricu
tural Organization society has
b~eneicent supervision over them ar
furnishes them with the qualification
which they lack.
Interview With Doctor Mccarthy.
Notwithstanding all that cooper
tive credit has done for Ireland.
still has a lack. says Doctor McCarth
The small tenant farmer has had al
pie provisions made for him by q
for the purchase OF b