Cut Bank pioneer press. [volume] (Cut Bank, Mont.) 1909-current, 1914-05-15

! wheh they arrive. He takes care OF
them generally within twenty-four
hours. We can do this because most
of our members are near by. We get
everything a little cheaper and of bet
ter quality than do the regular traders.
IL nothing, however, has the improve
ment In quality been SO marked as in
seeds and anure
How a Farmers Bank Loans Money.
Our organization loans money to
its members at 5h per cent. To de-
positors we give three per cent. on all
deposits. We thus do business upon
a margin of 2h per cent. On the 9TH
er hand the joint stock bank nearest
here charges 6N per cent. interest,
but pays only IA per cent. interest on
deposits. They require a margin of
four per cent. on which to do business.
Not only have the joint stock banks a
wider margin on the loans, but the
worst of it is you cannot get a loan
from a joint stock bank for more than
three months. They lever loan for
longer than that time although some
tA4nCbR VI SOA40Cy k4OJ W1AA 6AoAh Az
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 go some
distance, take his sureties with him,
pay their expenses, give them their
dinner, and l am afraid sometimes
treat them to liquid refreshments. If
we have a man who wants money and
he lives nea by we simply ask him to
bring in two good men as sureties, and
if 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 a
friendly manner and help us much.
There has been a wonderful i'm
provement in this community since
the land tenure laws went into effect
and the tenants are getting to be own
ers. 1t is a wonderful thing. People
who were %slovenly and whose premi-
ses were 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 If 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 1t Costs.
The books of the company show that
the only expenses incurred are the
compensation of the school teacher as
secretary and manager, $50 per year;
registration fees of So per year; and
in addition postage and stationery to
the amount of two or three dollars,
The total of these items Is only about
$40, this being the only expense in.
Cured for an entire year.
The demand for small rural credit
associations in Ireland Is very great
The joint stock banks are not so well
scattered throughout the rural section
in Ireland as they are in some parts OF
the United States. Often the expense
, of travelling to the bank and the pay
: ing of the expenses of the sureties, az
Quinn explained, is considerable. 1t IL
said that these expenses in addition
to interest, make a small farm loar
cost 20 to 40 per cent. If a young
farmer Is buying young stock, pigs
for example, it is far beyond the period
of three months before they will be
ready for sale. If he buys fertilizers
: he can expect no results for six to ter
70 m Months potTIrno Innn nnOd unndc a -
equally slow In coming in and on the
money placed in the new Implements
and equipment he gets returns still
: more slowly. For these men a three
> months loan is of little use. The in
elastic city system of loans, does no
= really help the borrower, but in
sense cripples him. 1t is only fair t.
. state, however, that the large banks
, although their methods are unsuited t.
the farmer, are on the whole homes
: and just in their charges and prac
tices. The difficulty is hat their meth
DDS Of business make it absolutel.
impossible for the farmer to deal will
, them proitably.
How Character Counts.
But here in Inniskeen and whereve,
In Ireland a cooperative credit societ.
has been formed, any farmer, be h
, , tenant or landlord, with a good repu
tation for honesty and industry, cal
by furnishing two sureties from among
his neighbors get any r~easonabl,
amount as a loan for one year. To d,
|. this involves almost no delay or trou
: BILE or expense. The bank is near by
Cooperative farmers are neighbour.
citizens, ready to help one anothe
.. out, so that sureties are easily secured
The interest is at a low rate. TIL,
borrower can rest assured that b
will not be unduly crowded as to re
Q payment If misfortune should overtak
him, for those with whom he deals VI
derstand fully his circumstances. Il
o fact the committee which decides hi