The Celina Democrat. (Celina, O. [Ohio]) 1895-1921, 1914-02-27

treat them TO liquid refreshments Il
we have a man who wants money ant
he lives near by we simply ask him tc
bring In two good men as sureties, and
II they are all right ana the man II
honest and a good worker and his
neighbors speak we'll OF him there ID
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 wonderful i'm
provement in this community since
the land tenure laws went into effect
and the tenants are getting TO be own
ers. II is a wonderful thing. People
who we're slovenly and whose premi'
ses we're 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"
How Little II 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 $S 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, as
Quinn explained, is considerable. 1t Is
said that these expenses in addition
to interest, make a small farm loan
cost 20 to 40 per cent. II 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. II he buys fertilizers
he can expect no results for six to ten
months. Returns upon good seeds are
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 not
really help the borrower, but in
sense cripples him. It is only fair to
state, however, that the large banks,
their methods are unsuited to
the farmer, are on the whole honest
and just in their charges and prac-
ices. The difficulty is that their meth.
DDS OF business make it absolutely
impossible for the farmer to deal with
hem profitably.
How Character Counts.
But here in Inniskeen and wherever
n Ireland cooperative credit society
las been formed, any farmer, be he
enant or landlord, with a good repu-
alton for honesty and industry, can
~ furnishing two sureties from among
lis neighbors get any reasonable /
lmount as loan for one year. To do |
his involves almost no delay or trou-
lie or expense. The bank is near by |
Cooperative farmers are neighborly
ready TO help one another
ut, so that sureties are easily secured. |
The interest is at a low rate. The
borrower can rest assured that he
will not be unduly crowded as to re-
ayment If misfortune should overtake
i'm, for those with whom he deals un-
erstand fully his circumstances. In
act the committee which decides his
ate is composed Of farmers like him
elf who know what hard luck is, who
ave likely themselves been borrow
rs, who are friendly to him and will
i've him a chance. This is the form
T credit loans most common in Ire.
and.
ouCu COOpeTaIlF6 CIeQlL Dauh
ould be organized to advantage in
lany American communities particu-
irly in those states where there are
o banks in the smaller cities and vii
ages. They will inevitably be organ
.ed In such communities unless bank
rs cease trying to force down the
lroats Of the farmers the inelastic,
city methods Of doing busl-
ess. The question is, are the bankers
DING to crowd the farmers into these
cooperative credit enterprises? The
anks must grant longer time and
lore liberal and elastic terms on per
0nal loans. They must arrange for
lortgages which run over longer
eriods Of time and which are to be
spaid in moderate installments as the
ow farm profits come in. Co-opera-
We credit may not be necessary. II
up to the banker.
Copyright 1914, Western Newspaper Union)
Activities Of Women.
The Hebrew Technical school OF