Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1914-05-01

can banker must reform. If he does
not he will be up against it 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 go
ing to have the money from some
source. If the banker will not give
it to him he will organize a new kind
of bank, for you may rest assured
that the American farmer is going
to 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 business that is
astonishing in it's 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 American, 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 thef 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
SCOQoi WC1O uAhHOW q yOAA6 AlcAL
with comparatively little capital could
begin farming Now considerable CAPT
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 fol
loans.
In America the farmer can seldom
get loan on terms that meet his
needs. In Ireland, Belgium, Germany
Holland, Denmark, France, Italy an6
elsewhere upon the continent the
banks have forced the farmers to or
ganize cooperative credit societies. II
many instances the government alst
has aided the cooperative banks il
obtaining money for loans. These so
cieties are taking a safe, profitable
business away from the bank Nov
when it is too late the banks realiz,
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 O.
will they force the farmer to go int
the banking business as did the bank
ers of Europe? 1t is up to them. VIII
they beat cooperative credit bank
hV heating them to it?
Buying Farm Easy in Denmark.
To buy a farm there are numbe
| Of different methods open to the Dan
| ish farmer. 1t must be remembers,
| that in Denmark a farm is consid
cred as having live stock and imple
ments used in working the land in
| separately attached to it, hence tn
| purchase price to be paid includes al
| equipment necessary to the operation
of the farm and all mortgages are sc
cured by a pledge of this persona
| property as well as of the real estate
If the would-be buyer has forty pc
cent of the purchase price he ma
apply to a credit society for a long
| time loan amounting to sixty per cent
of the value of the farm and all equiv
ment and stock upon it. The loan ma
run from forty-fve years to seventy
nine years The borrower has hi
prospective purchase surveyed and as
sessed He makes out mortgage an
| delivers it to the cooperative society
This mortgage and hundreds of otl
ers like it are delivered to truste
with trust deed which pledges the1
as security for series of bonds. TIL
cooperative society guarantees tn
bonds also.
1t is from the sale of these bond
that the cooperative society obtain
its funds. These cooperative cred
associations have in the beginning II