La Junta tribune., 1914-03-07

toefS oas e0S oooo IN over 0ue tooa q
tAe 80 q IL year. Ths soeisty b
sa1osbts6ly ei great assissaaes u ths
DeoeSs b IL district. We vast ths
tins 70 ceos when svssy nas en-
walk up The street in DuAsIov aaA
~ - ovss HotAing"
csp,tailsiao chaeasase.
These cooperative banks have. -
Il vers. caDttslixAd character. The
sasiy ofBanisers Il coopera,ivs credit
associations held. and exDssieses has
eosAfned tAs opinion. that = the
Doorest communities there 10 . per-
feetly safe basis OF security In the
honesty and industry Of Its members.
This security 10 not valuable In the
ordinary commercial sense. The or.
dinary banker has no Intimate knowi-
edge Of the character Of those Who
apply for loan Neither has he any
way Of testing whether or not those
Who borrow for productive purposes"
actually apply the loan to such Dur-
Doses. The borrower must bring two
sureties. who like the borrower him.
self. must BE- men Of approved char
aeter and capacity. The character Of
these three men 10 the sole basis Of
credit.
The rules provide-and this Il the
charscteristic feature OF the system-
that . loan shall be made for pro
ductive purpose" only. That Il. tae
borrowed money must be used for .
purpose which, in the judgment Of
the committee, will enable the Dor
rover 10 repay the loan out Of the
results Of the use made Of the money.
The farmer buys . SOW to raise pigs,
be must have fertilisers; he needs
some hish-grade seeds: he wants to
build better shelter for his cow-all
these are productive purposes. In one
case money TO send the borrowers
boy 10 school for eight months 20 A.
TO increase his earning capacity was
considered = productive purpose justi.
fyinE = loan. A. II proved TO be when
the boy himself repaid the loan. The
rules OF the cooperative society pro-
vide for the expulsion OF q member
Who does. not apply the money TO the
agreed purpose. II IL said. however.
TO the credit OF the Irish members OF
these societies. that there has never
been the necessity OF putting this rule
IN force In . single instance anywhere
throughout the entire Island Social
and moral Influences seem to BE- quite
suficient TO secure obedience to the
rules and regulations Of the society.
ce-epsrstivs Credit 10 Coed.
There are other advantages. The
regular bank 10 generally miles away.
II costs money for the borrower to 70
and take his sureties. paying car fare.
meals and maybe drinks. while the co
operntiy. association is right At hand
The bank will loan for only 20 days.
while the cooperative society will
make II up to year. And = s0-dsy
loan gives the farmer no chance 10
realize on sced or fertilizer or stock
bought with the money borrowed. Bu,
here in the local credit bank II = man
is honest he can Get the loan he needs
He must bring two sur-ties. but co
operation breeds and develops neigh.
borly helpfuiness and they say no
honest man ever fails because he can
get no surcties.
Neither the association nor liz mem
bers have any considerable capital.
When they organize they begin By Dor.
rowing . sum Of money on the Joint
and several liability Of the members.
Deposits are received from both mem.
b~rS and non.membefs. The society
usually borrovs At four o. avs pes
cent. and lends at Eve OF slx pr csss-
In some cases government sus1s have
been loaned 10 then st three ~ esat.
thus saabiinG them. 10 make Q very
low loan 10 their msmbess. The 81.
pesss Of aAnisistrstioa 10 almost seth.
ing.
lssesa sse Rural Ameessa.
Il 10 sveA societies - these that ars
putting he sonbesa nsa oul Of bssi
nsss h lrsiasl. We hare 10 rusal
America soobeea msa. Thsy are not
% called. bst Aosstsas has sharks
and credit nsa are arst cousiss 70 he
irish soabssa 0ea.
The evsssioa - Aasessaas ase ~.
bse8 W - VT - &oos nav IT. bVbos
credit nstAe1s . Iseeca ess ~ susal
sections u ous ova Asli Ca or
Ioas shssk. vhseAss II city - eesatSy.
- tessAs asA eeeessesd b slaAlas
American cooperative seetsttssf
1sfs afe hua1fo1s ol Dsee eAsDasu
who nuse ask ese14t sitAss q 0sr.
chants ~ 1saisss q asst s>ssSs
toaas iron seos sssfee. Nest e tAso
- esslh q ~ tecal 0eeeAaal L n.
- eesrss. vss1 rssssniss1 tAsa aay
1oalss vho egtsa1B eee1te ~ ealy
eAasuss latsssse ut eAasUss . hisAss
prSes tAAa vhso ~ go 90 DayDeol
wv eaaase ~ Aoestsaa eAs0es
- DeaA a. . neasSy baskioS lasst.
tntioa ~ sis DoatAe - ~ nsoehs q
. ysas iasesal - TT - laysf wv
oaaost - eapotaliss ~ eAagoe4oe -
1ooo ~ DsloAOanf u ooOo Qeaaao