The Mount Holly news. [volume] (Mount Holly, Burlington Co., N.J.) 1891-1942, 1919-02-11
COOPERATIVE CREDIT
UNION is ADVOCATED
Handy for Farmer Who Is 0per-
atinJ on Small Scale.
Many Know Too Little About Finan-
ciaI Transactions and Do Not Re-
ceive Affirmative Attention and
Sympathy of Bankers.

prepared by the United States Depart
ment Of Agriculture)
A system of personal-credit unions,
especially for the benefit of farmers
whose financial circumstances and
scale of operations make 1t difficult
for them to secure accommodations
through ordinary channels, is recon-
mended in the annual report of the
secretary of agriculture.
1.-THE men have especially in
mind" says the secretary, fare those
whose operations are on small scale
and who are not, in most cases, init
mately in touch with banking machin-
cry, who know too little about finan-
cial operations and whose cases usu-
ally do not receive the affirmative at
tention and sympathy of the banker.
Such farmers would be much benefit
ed by a membership in cooperative
credit associations or unions.
"Of course there are still other
farmers whose standards of living and
productive ability are low, who usu-
ally cultivate the less satisfactory
lands, who might not be received for
the present into such associations.
This class peculiarly excites interest
and sympathy, but it is difficult to see
how Immediately any concrete finan-
cial arrangement will reach it. The
great things that can be done for this
element of our farming population are
the things that agricultural agencies
are doing for all classes but must do
for it with peculiar zeal. The APP
proach to the solution of its difficulty
Is an educational one, involving better
farming, marketing, schools, health ar
rangements and more sympathetic aid
from the merchant and the banker.
If the business men of the towns and
cities primarily dependent on the ru-
raj districts realize that the salvation
of their communities depends on the
development of the back country and
will give their organizing ability to
the solution of the problem in sup
port of the plans of the organized ag-
rlcultural agencies responsible for
leadership much Roadway will be
made.
'The foundation for effective work
ia this direction is the successful pro.
motion of cooperative associations
among farmers, not only for better
finance but also for better production.
distribution and higher living condi,
lions. These activities are of primary
Importance. At the same time, it is
recognized that such cooperation can
not be forced upon a community bur
must be a growth resulting from the
volunteer, intelligent effort of the
farmers themselves"
The conclusion up to the present.
says the secretary, seems to be that
the Held is one primarily for the
states to occupy through sound legis-
lation. Under laws adopted in five
states l25 personal-credit associations
nave been organized, but the larger
percentage of them have been formed
by wage earners in urban centers.
Inc attempt to develop strictly ru-
raj credit bodies has met with some
what more success in North Carolina
than elsewhere" the report states.
In this state the work of promoting
ana supervising such organizations
was placed in charge of an official in
the division of markets and rural or
ganization of the state college of ag-
riculture. The law of this state was
enacted in 1915, and at present 10
credit unions, all of them rural, are in
operation. 1t is noteworthy that the
North Carolina law makes special
provision for educational and demon
strational activities"