Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1914-03-13

If assisted BY god supervision and
inspection. can be ct once q good
business man aud a kindiy neighbor.
Here Ia this Foynes society Il = com
mtttee Of business men who are will
ing 90 come together to consider loans
Of the most trivial amounts and TO
meet periodically and discuss meth
ads of bringing more money into the
little community to be loaned out 10
those needing 1t, They aro ready to
so over all the petty troubles and
sgflals and misfoFtunes Of the unfor'
innate borrower. 70 discuss ways and
Neans Of helping the weaker brother
pay his debt These men aru In fact
bearing the burdens OF an entire
community 80 far IA the small bust
ness dltnculties are concerned, All
ara most anxious 20 see every farmer
a0lc 70 buy good seed. good manures,
good stock aud 20 improve the posi-,
tioa OF himself and family, yct equally
Az xious 60 protect the funds % the
bank,
1t In a question WHETHER the board
u directors OF any blk financial house
Who at IN richly upholstered chairs
around Circasaian walnut tables ever
more EFFICIENTLY DISCHARGED the dn'
tlea ~ bank directors than have this
group az mud despatched farmers sl,
ting in cheap wooden chairs around
this pine table
One Man One Vote,
This cooperative banking aaaocia
tlon az Foynes Ia under the absolute
control OF the farmers hereahouth,
This control Ia not conferred In a few
rich members who hive furnished the
capital, Each member has one vote,
Irrespective of his Investment. There
Is no massing OF votes In tho hands
OF those who have the most money In
| the concern. Here men carry the
voting power, not money, The coop
/ eratiye Idea ia essentially democratic
Experience shows that no other Hys
tenn succeeds. For one man To pos
bsss twice as much power as his
nelghbor renders an association nc
longer truly cooperative, Before this
principle was recognized. when ons
or two members might out'yote LOT
members. more than one cooperative
effort went to plecea
The average farmer member IL poor
lie has never handled money. 10
may never have made loan. liz
knowa nothing OF banking forms, o.
bank bookkeeping, of the legal right
OF borrowers or OF lenders. He IL ~
easy going. Kood.hearsed lrlahman
Men of this type control aud make uI
the loan committee, which must pas
on loans. enforce collections and de
eide on all minor questions relatinI
TO the policy OF the organization. Hov
can such members be good bankers
In America Il takes shrewd. well
trained business men to make a hahl
succeed They know more OF ban
accounting than do accountants. The
know as much OF banking law ~ d
lawyers They have BY iong stud
OF their subject become familiar Wit
every phase III t. How then can then
happy. 70 lucky irish farmers hecom
succeaafui flnancieraf
The answer. OF the higEast part Z
the answer. Ii that the Irish Agricu
lural Organization society has
, benefieent supervision over them an
furnishes them with the qualification
which thay lack.
interview With Doctor Mccarthy,
!. Notwithstanding all that cooper
/ tive credit has done for ireland.
i stili has a lack. says Doctor McCarth
4 The small tenant farmer has had az
q pie provisions made for him by "
government for fhe purchase Of b
home Small farmers. through crod
? associations. have ample opportuulu'
n of obtaining small loans for pfodu
: tive purposes. What Ireland moi
;. needs nov. however. lie n system I
4 loans BIZ which the owners OF the lar
> er estates may secure funds vii
i which 10 make their estate pfodncti'
!. aud profitable. The owners Of the b
!. estates are ail Iii need OF money Thl
ara M poor. Ia a sense. as the p0ors
A tenant farmers The worst faFmlT
q In ali ireland Is sometimes found ups
4. the largest estates. These farms
a find It dificult 20 obtain a large ion
n at lo3 rate Of interest. on long tim
4 with privileges OF amortization pa
= ments. such a. will enable them TO u
:. money for the gradual upbullding
d The productlveness OF tha farm. "
= were possible here to borrow mon
upon mortgages of this description
IL Is In Germany. IN France. IN TIA
:. and even In Russia. the rural portio
4 Of Ireland would advance much mo
!, rapidly. America can safely add
g the Irish system Of short time perss
: II loans. but We should have IN ad
At ton something like The German La
rs schaften banks Tor larger long VI
70 loans