La Junta tribune., 1914-05-30

WoU0 ku6y AIIlvVs E19 A2ey CBI4 OA
them generally within twenty-four
houfs. 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.
In nothing. however. has the improve
ment in quality been 20 marked ~ in
seeds and mxnures.
hew . Farmer Sank lesns Money.
-Our organization loans money to
its members At sh per cent. To de-
positors we give three per cent. on all
deposits. We thus do business upon
margin OF ~ per cent On the 9th
er hand the Joint stock bank nearest
here charges eH per cent. interest.
bat pays only ~ 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 II 10 you cannot get loan
from joint stock bank for more than
three months. They never loan for
longer than that time although some
times. Of couUe. they will grant re-
newals. The trouble 10 that these re-
newals are hard on the farmer. These
banks are only in the larger places.
Very often the farmer has to 30 some
distance. take his sureties with him.
pay their expenses. give them their
dinner. and ! am afraid sometimes
treat them to liquid refreshments. II
We have a man who wants money and
be lives near BY we simply ask him to
bring in two good men as sureties. and
II they are all right and the man Is
honest and a good worker and his
neishbors 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 q
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
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 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"
hew Little u cests.
The books Of the company show that
the only expenses incurred are the
compensation Of the school teacher ~
secretary and manager. $50 per year:
registration fees Of IS per year: and
In addition postage and stationery to
the amount Of two or three dollars.
The total Of these items 10 only about
SO. this being the only expense In.
Cured for an entire year.
The demand for small rural credit
associations In Ireland II very great
The Joint stock banks are not 90 well
scattered throughout the rural section
In Ireland ~ 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. -
Quinn explained. 10 considerable. Il 10
said that these expenses In edition
to interest. make . small farm loan
esst 20 TO 70 per csst. II . young
farmer 10 buying young stock. pigs.
for example. Il b far beyond The period
Of three months before they will b.
ready for sais. II be buys festilisers
be can sxpect no results for six to ten
months. Returns upon good seeds are
equally SLOW In coming In and On tAs
money placed 10 the nev impiemeats
and eQuipment he gets returns still
more slowly. For these mea . three
months loan 10 Of little uss. The in.
elastic city system Of loans. does not
really help the borrower. but In Q
sense cripples him. II 10 only fair to
state. however. that the large banks.
although their methods are unsuited TO
the farmer. are on the whole honest
and just In their charges and prae.
tees. The dificulty II that their meth.
DDS OF business make Il absolutely
impossible for the farmer TO deal with
tuem pSoutapy.
How Character Counts.
But here In inniskeen and wherever
In Ireland . cooperative credit society
has been formed. any farmer. b be
tenant or landlord. with . good repu.
iation for honesty and industry. can
by furnishing two sureiies from among
his neishbon get any reasonable
amount ~ loan for one year. To do
this involves almost no delay or trou.
BILE or expense. The bank is near BY.
Cooperative farmers are neishborly
citisens. ready 10 help one another
out. 10 that sureties are easily secured.
The Interest 10 st . Low rate. The
borrower can rest assured that he
Will not b unduly crowded = 70 re.
payment 70 misfortune should overtaks
him. for those With whom ~ deals IN
ADRn4n0A f,s11v hla saans-aHaaa~a T.