Show DAILY DAIL Y HASKIN LEtl LETE It T RUP RURAL L CRED CREDITS TS' TS t I III The American Commission 1 By FREDERIC J. J H HASKIN There Thero i is in Rome an organization known as 35 tho the International institute of agri agriculture It is supported by all of the tho civilized nations of the tho earth each of which has a delegate stationed there whose lilt duty it is to to take p part rt in m in the statistical work wark of of forecasting the worlds world's o and to make malte himself useful l in watching the agricultural progress pro pro- gress reo of the other nations and in communicating com tin his observations to his country 0 on The Them American m rican delegate ato to the institute lute tute ute ia is D David id I. Lubin The Tho researches of the institute tulo long since demonstrated demon demonstrated the tile immense immen o importance that tho the governments o of l' l Europe attach to operation co-operation among farmers and showed how hov the thc farmers succeeded succeeded- onder under un un- der cler the tho patronage o of tho the government Mr Ir Lu Lubin in made frequent reports to tho the Washington authorities on the tho success suc cess of tho operative co-operative credit system of Europe and it finay aroused the interest 0 ot those who would help the American farmer to help himself This in turn ea cave e ri rise e to n a demand for a thorough b inquiry into tho the subject I This movement was Vats sponsored by br the southern commercial congress and time the American Bankers' Bankers association the former organization g giving it a practical practical turn by resolving in April 1912 1012 that the directors of the congress should bo be asked askell to send ond a commission to Europe to stud study the question car carefully earn care fully and arid that this commis commission on should consist of two men from each state Thereafter Pre President Taft raft indorsed cl the plan of providing in rural credits by calling n upon the conference of or governors governors gover gover- nors nar to consider time the sub subject and pro pre nf to them a report from Herrick show showing nf what hank banking nJ co operation had hart been accomplished in in Europe particularly in Germany Under Un- Un ler der the leadership of Dr nce J. J Owen director Ii rector general of af the southern commercial con congress re s. s and afterward di director director di- di i. i rector general of the American commission com corn mission the time three bi big political parties lad indorsed t the tho proposed investigation in in their platforms in the tho 1912 campaign campaign campain cam cam- pain and tho the senate of df the United States passed a resolution indorsing the tho commission and invoking for it the diplomatic consideration of of- the countries countries coun coun- tries included in its itinerary With these credentials the American commission sailed for Europe in May of the tho present year rear It was headed by seven on delegates at large appointed by President Wilson who will report to to congress upon the advisability of establishing es es- es a a. system of farmers' farmers cooperative cooperative co co- co operative o banks and a mortgage bank hank system Three fourths of af the states were represented by delegates who will report to a committee of nine governors gover nors nora appointed b by the tho last meeting of tho the house of governors governor In this way it is hoped to set sot in m motion tion the wheels wheel of ot both the tho congress of the United Unite States an and of or tho the J legislatures of th the several se states When Whoa tho the commission sailed it la lain laid out its plans with the assistance of David Lubin That he ho had a a practical idea of what ou ought ht to bo be done don is shown by bv his advice as to how the commission commis commis' s sion smon on should proceed in its work Before Before Be Be- fore it was organized he lie reminded lcd the tIle southern comm commercial con congress ress of the necessity of appointing delegates elthe of el tho the right caliber and called attention to the fact that the importance of the work and the magnitude of af the inquiry would leave little timo time for sightseeing and social functions He Ire further observed ob oh- s served that there thero was nas neither time nor nOT place for for mere junketers amateurs and dilettanti The plan followed in makin making the j inquiry was to h have c the commission meet as a n whole in a few central pla places eJ I in each country under tinder tho time auspices auspice of ofa a reception committee of that coun commit I try tn Here three sessions daily were wore he held d an and at these a lar large e number of ar people from the head of a bankin banking institution institution in iu down to an humble ten acre rc farmer were questioned closely by tho ho members of tho commission This body did dil not limit itself to a a. study of rural l lI crt credits dit but also investigated the the allied e problems of operation co-operation in production I and amid distribution and an tho the activities of and aud semiofficial bodies in tho the thoI prO promotion motion of n agricultural welfare After data concerning I these subjects on tho continent the commission com corn mission went to Great Britain it 11 was wasI said aid here b 1 va a a niner forty from front Cali Call I fornia fonda that in their studies the t uenta aunt cis had furnished o CI ll for ilia the abi pan that Great Britain an the were amalgam pant pan U a the rit questioners tho the quicks Ivor J an and that the findings w were re the tho bar o at gold fo for the tho hands the r ad being t the e American an people sod arid alIv ba state and national nation l governments ft After making the thC tour J of thi th the co lU tj nent and of the British isle M flied t torn M mission returned to the United d antI and work work was promptly h bc nin nn U J thE task of dIRed digesting n nail aDd malon mal v for tor tho time th the use results of the of pu public its and ami th the Iii It that two kinds of cr were ero encountered in iii Eur the g term credit bas d on mort p gas gag s and mused in and Ing f ri property f and u the snort short term based per personal onal and us in m tiding tho farmer fame over from on crop to another Ij found that tho the farmer was able to fobs bOl row money may on short credit it at r ra tr ranging between en 4 1 and amid 5 per S erat-S After making a preliminary re renoi pOr crin co the whole covering situation n the th-t th tint torn mission mission effected a permanent nt or cream oni as with nth headquarters in itt Wa ton taD It has a membership fronT from thirty si six states and from four Canadian moos and arid has settled down iio to th H work worl o of ailin aiding a national proa for tor the utilization on of the lessons o o European rural finances b jn QU our ow 1 01 a agricultural situation Tho The appointed two vo committees to fo cair carry foi ward the thc work wark assi assigned to one the ta tat of compiling the time results of the tho invest cst gat at ion on while whilo the other was to an i ad advisory ar bonn board That Thal sonic somo legislation will Till crow groot or of the work seems a n forr foregone ion sion othin is being asked of tb 4 United States States' except t thit thE it enact wholesome laws for the r re l of rural Tural credit associations association The house committee on banking at an currency proposes to supplement it IH work ork of i t the commission and h hop through a subcommittee that t has baa b he-e he appointed to offer something in tho direction of f aft affording t U farmer a mone money market as ItS that enjoyed by the commercial w worl J a no market where he ho may borrow ai lD lend for Jon long terms or short torms at tJ in a 3 wa way that will permit him toia himself or his his' neighbor with profi both All of af the thc proposals that tavo bayo b bei made have bave in view a a plan o of r d that will simply allow the fa farmers underwrite own transactions 1 If If- it bo ho urged that the 5 wr ni ir pose posed will tend toward making tl p farmer indifferent to debt the anaw is made that tho the opposite itc been witnessed wherever cr it has has' ba tried an and that the E European arp c caro aro educated up imp to 10 a th hJ punctuality enhances borrowing p pone 1 and therefore offers ofors greater opportunities I ljj Installment payments n never iv al had bad such Buch an effect upon tho the p plo of tb cities who buy their homland and furnish them thom through Aral houses rather it is pointed out it fc encouraged many a ma man to pay jf a cosH cosily furnished place out 0 ot of IlO MODI IlOH H that ho might otherwise have havo MCI purposelessly I If it bo Lo urged that bat r the farmer the United Unite States cannot fundamental organizations of f lr ur banking system the thc answer is me IS th tc the tho American farmer fanner m up to the European peasant aDt in latch intel pence in judgment and 1 id iii general abi a abi it It ity and therefore succor success is assured Tomorrow la T RURAL CREDITS J IV Proposed IV-Proposed Proposed Legislation |