The Grenada sentinel., 1915-07-16
RURAL CREDITS.
Continued from first page)

which, in some cases constitutes about
one-third of the total, so then it would
be impossible for banks to take stock
in or lend assistance to land loan
scheme, even at good rate of interest.
If the banks cannot supply necessary
funds to further the scheme. then to
hat source may We look for the capI-
tall
In other words, who will subscribe
for the stock in farm loan banks! Not
the farmer, for ii he has idle money TO
invest, other lands, bonds or loans At Il
better rate would prove more attrac-
tive Investment; not the merchants.
who a. Il class have no idle money, and
ii they do have, larger stocks OF goods
or loans at 5 per cent. would be much
more attractive investment; not the
professional man, tor per cent. ln-
vestment would not appeal to him when
he can Just as easily secure an per
cent. loan; and surely not the politician,
for real substantial honest assistance is
the last thing he has to give to con-
tiding and credulous constituency. |
wonder il the day will ever dawn when
the eyes of the voter will be open, that
he may see and understand that the
political demagogle is not his friend, brt
rather play, upon his political credulity
for political aggrandizement, oftentimes
creating within hi, breast Il resentment
toward hi, fellowman, wholly fallacious,
and intlaming his imagination to de-
gree which causes his unrest and largely
destroys his peace of mind, and IN a
measure unfit, him to nationally and
diScreetlv exercise the right OF suffrage.
If the banks, the business men or the
farmer, cannot supply the capital neces-
,ary to put into operation corporations
or banks, whereby loans may be made to
farmers 1T low rates OF interest, then
would II be practical for our government
to attempt to do So Some OF our
statesmen and few foremost business
men of toda, seem to think well of such
scheme and advocate the organization
OF land loan banks. with the idea that
the government undertake to direct and
tiua nee them. in a restricted way. such
a plan is Incompatible with my views
of practica or proper business methods.
and | believe would prove untenabe and
sln,ound in operation. To organize such
a corporation. even if legal. would pos
siblv benefit those in control of its exc
cutlon vastly more than 1t would the
farmer. IN the way OF commissions, eN-
penSe>, etc A. view the SITUATION,
the blessings OF low interest rates ana
money on easy terms come ohiy through
conditions Sueh A. prevail M european
countries mentioned, and which make, it
possible for tile farmer over there 10
secure money ON Nueh laNofaoie terms
he H'N ol compensation i"u'' ~ "'V"r"'
ana lhe Jaw OF percentage VIII III tl'r
end govern. Impossible III th' 'ehell' Oh
hldlce ana business To stt >ohieth'iiS ioi
no h'h9. II We nave eheap "oheN' Vi
necessity ana a. prerequisite theieto
We must undergo ana accept cohuitloil-
positively mdlspehNihie 10 the pan ny
N.lrh the privilege l. made Po-siple' III
The FARMERS oi Europe ehloN 'he pie,'-
to- Oh cheap money on easy terms Oh
la'mrni A'' they not SUBJECTED TO as
advantages. Nurh a. P"NrftH, "'2" t'N'
clrrum'ctlb'd ACTIVITIES ana low wages
Which more thdh couilterbalaher the ad-
vantage OF low interest None OF our
people Nouid care TO eNeh"i2e ,i'''hciai l.
clNic or social CONDITIONS, OF the prlNi'
leges we ENJOY for tiose OF an! couh-
Try III Europe ana uitll we are Wiling
To 40 50 We cannot nope TO OBTAIN an! Vi
their seeming advantages III hhafce'
why l. 1t that those VINO are most
urgent III their demands fof rurai
credit OF hhd loan system similar TO
ualN, or some other country, 90 not 90
iufthrI ana tel that none! AT 10" iii'
terest rates must be the result OF eoini
tons and that such conditions a exist
in those countries, We, nor our poster
lty would tolerate here. ana what Inc
advantage would cost the farmer IN 80
| rlhce OF liberty, toll, endurance ana "e
| plNatlpn, luW wages ana an lhpoNef
| lshed laboring class; that the prevailing
rate ot interest IN those countries l. les
| than ! u per cent. anl that the fnrmel
| there ENJOYS no advantage, III TINS re
spect, over other business enterprises
that the merchant. manufactures an'
business OF those countries pay a les
rate OF interest than DO our merchant.
and manufacturers. Nor do they tel