Clearwater Republican. [volume] (Orofino, Idaho) 1912-1922, 1914-05-15

them generally within twenty-four
hours. We can do this because most
Of our members are near by. We get
everything little cheaper and Of bet
ter quality than do the regular traders.
ment In quality been SO marked as In
seeds and manures.
How q Farmers' Bank Loans Money. |
"Our organization loans money to
it, members at 5h per cent. To de-
positors we give three per cent. on all |
deposits. We thus do business upon |
q margin Of az per cent On the 9TH |
or hand the joint stock bank nearest
here charges 81 per cent. interest.
but pays only IA per cent. interest on
deposits. They require margin OF
four per cent. on which to do business.
Not only have the joint stock banks
wider margin on the loans, but the
worst Of It Is you cannot get loan
from q joint stock bank for more than
three months. They never loan for
longer than that time although some
times. Of course, they will grant re-
newals. The trouble is that these re-
newals are hard on the farmer. These
banks are only in the larger places.
Very often the farmer has to 90 some
distance, take his sureties with him.
pay their expenses, give them their
dinner, and l am afraid sometimes
treat them to liquid refreshments. II
we have q man who wants money and
he lives near by we simply ask him to
bring In two good men as sureties, and
IL they are all right and the man Is
honest and a good worker and his
neighbors speak we'll of him there Is
no difficulty and very little formality
in getting the loan. In addition to our
deposits we have arranged for an over
draft from the Bank of Ireland at Dun
dalk. They cooperate with us IN
l friendly manner and help US much.
There has been q wonderful I'M
provement in this community since
the land tenure laws went into effect
and the tenants are getting to be own
ers. It is a wonderful thing. People
who were slovenly and whose premi-
SEES we're absolutely unfit to live In
have now purchased their premises
and are improving them and are living
under much better conditions. They
used to be afraid their rent would be
raised II they fixed things up. The old
age pension has helped many of the
old people, for there are many PEN
sioners in this vicinity"
How Little II Costs.
The books of the company show that
the only expenses incurred are the
compensation of the school teacher 81
,, secretary and manager, $50 per year;
!. registration fees Of So per year; and
: in addition postage and stationery u
the amount of two or three dollars
The total Of these items Is only abou
$40, this being the only expense In
l. CURED for an entire year.
The demand for small rural credi
= associations In Ireland IL very great
The Joint stock banks are not 60 wei
= scattered throughout the rural sectio
;. in Ireland as they are in some parts Q
y the United States. Often the expens
= of travelling to the bank and the pa
- Ing Of the expenses Of the sureties, q
- Quinn explained, Is considerable. It
!. said that these expenses In additio
to interest, make small farm loa
70 cost 20 to 40 per cent. If youn
farmer 10 buying young stock, pig
for example, 1t is far beyond the perio
Of three months before they will b
y ready for sale. II he buys fertilizer
!. !. he can expect no results for six to te
~ months. Returns upon good seeds Al
~ equally slow in coming In and on tt
u money placed in the new implement
and equipment he gets returns sti
!. more slowly. For these men q thrt
:. months loan Is of little use. The l
~ elastic city system of loans, does ~
10 really help the borrower. but In
= sense cripples him. 1t Is only fair
- state, however, that the large bank
although their methods are unsuited
=. the farmer, are on the whole hone
10 and Just in their charges and pra
~ tees. The difficulty is that their met
OF DDS Of business make it absolute
!. impossible for tho farmer to deal WI
~ them probably.
N =. How Character Counts.
But here In Inniskeen and wherev
y In Ireland . cooperative credit socie
U80 U00A AOA AOup oAy AGA AA0Ap w
~ tenant or landlord, with q good rel
eu tation for honesty and industry, G
10 by furnishing two sureties from amo
:, his neighbors get any reasonat
~ amount % q loan for one year. To
nu this involves almost no delay or trt
on BILE or expense. The bank is near
m Cooperative farmers are neighbol
We citizens. ready to help one anott
IA out, so that sureties are easily secure
The interest IL at q low rate.
!. Lno borrower can rest assured that
mo will not be unduly crowded rs to
INC payment II misfortune should overta
~ him, for those with whom he deals I
derstand fully his circumstances.
no fact the committee which decides
NO fate Is composed Of farmers like b.
ne self who know what hard luck Is, v
are have likely themselves been borrt
the ers, who are friendly to him and '
on give him . chance. This II the 70
The Of credit loans most common In
a nh