Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1914-12-24

ever, and the words OF the inspector
had their effect for they promised that
more husiness.Ifke methods would pre-
vail In the future
Good Business Methods.
The inspector had not only full
knowledge of cooperative concerns.
but was evidently in addition skilled
accountant, and pointed out why the
books must be kept according to the
uniform system Of accounts. recon-.
rnended by the Irish Agricultural Or.
ganization society. A must searching
annual audit of accounts is also re-
CURED performed by either an off,
eiai public auditor appointed under
the Friendly Societies act or by per
sons selected by the members at the
annual meeting. Everywhers, ~ here,
we have found that good business
and accounting methods are en-
pioysd and that careful audits are In
sisted upon ard considered necessary
To the success OF these societies. IL
there 10 any lack OF these quaiiaca-
tions In the farmers who are the bank
ers, the lack Ia supplied by the |. A.
O. q. through their inspectors and an-
ditors.
Farmers Can De Good Bankers.
We came somewhat doubling wheth-
or farmer could be a banker. We
go away convinced that the farmer,
IL assisted by good supervision and
inspection, can be at once q good
business man and kindly ne.ghbor.
Here In this Foynes society Ia com
mittee Of business men who ara will
ing to come together to consider loans
OF the most trivial amounts aud to
meet periodically and discuss meth.
DDS OF bringing more money into the
little community to be loaned out TO
those needing II. They are ready to
go over all the petty troubles and
trials and misfortunes of tho unfor'
tunate borrower. to discuss ways and
means OF helping the weaker brother
pay his debt These men are in fact
bearing the burdens OF an entire
community SO far az the small bust.
ness difficulties are concerned. All
are most anxious TO see every farmer
able 10 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 -,.. ..e..
II Is question WHETHER the board
of directors OF any big financial house
who sit in richly upholstered chairs
around Circaasian walnut tables ever
more efficiently discharged the du.
ties of bank directors than have this
group of mud-bespattered farmers sit
ting In cheap wooden chairs around
this pine table.
One Man One Vote.
This cooperative banking associa
ton at Foynes 10 under the absolute
control OF the farmers hereabouts
This control is not conferred In d few
rich members who have furnished the
capital, Each member has one vote
irrespective Of his investment. There
Ia no raassing of votes In the hands
OF those who have the most money In
the concern. Here men carry the
voting power, not money. The coop
erative Ideals essentially democratic
Experience shows that no other sys
tenn succeeds. For one man to pos
sess twice as much power as bis
neighbor renders an association nj
longer truly cooperative. Before this
principle was recognized. when one
or two members might outvote 1ot
members. more than one cooperative
effort went TO pieces.
The average farmer member Is poor
He has never handled money. He
may never have made q loan. He
knows nothing OF banking forms. ol
bank bookkeeping. of the legal rights
of borrowers or Of lenders. He Ii al
easy-going. good-hearted Trishman
Men of this type control and make VI
the loan committee, which must pas.
on loans. enforce collections and de
cide ON all minor questions relating
| TO the policy OF the organization. How
can such members be- good bankers
In America IL takes shrewd, well
trained business men to make a banl
succeed. They know mora Of bani
| accounting than do accountants. The,
know as much of banking law as d.
lawyers. They have by long stud,
of their subject become familiar witt
| every phase of It. How then can thesa
happy-go-lueky Irish farmers benom'
successful financierss
The answer, or the biggest part o
the answer. Is that the Irish Agricul
taral Organization society has |
heneficent supervision over them ant
furnishes them with the qualifications
which they lack.