Vol. V. No. 121. 



THE ACxRICULTURAL NEWS. 



395 



AGRICULTUKAL CREDIT IN GERMANY. 



In an article on the above subject, in the Journal 

 i)f till' Board of Agriculture (London, March 1906), 

 it is stated that the spread of co-operative ideas in 

 Germany during recent years has been very marked. 

 The establishment of central banks, devoting themselves 

 more or less exclusively to co-operative business, has 

 been an important feature in this spread of co-operative 

 ideas. The following is of interest : — 



There are two classes into which the credit banks may 

 broadly be divided : those founded on the Schulze-Delitzsch 

 system and those based on the Itaiffeisen principle. The 

 difference between them has been frequently explained, and 

 it will be sufficient here to indicate the distinction somewhat 

 briefly. 



SCHULZE-DELITZSOH B.\NKS. 



The Schulze-Delitzsch Credit Societies were designed by 

 their founder, after whom the}' are named, mainly tor the 

 benefit of mechanics and small tradesmen. They grant loans 

 on promissory notes and bills for short periods of from three 

 to nine months, and at the same time encourage their 

 members to deposit their savings with the society. At the 

 time of their foundation thej- rested on the principle of 

 unlimited liability, but in later years limited liability was 

 also introduced, especially as tlieir accumuhitions of capital 

 increased. Unlimited liability and self-help were, however, 

 declared by Schuize in 18.58 to be the only principles 

 justifiable in economy, and moreover, ' particularly suitable 

 to the character and manners of our people.' As a matter of 

 fact, the collective liability of the members to the e.xtent of 

 their whole means was at that time the only sy.stem recognized 

 by the law, but by an Act passed in 1889, the limited 

 liability of members was admitted. A new form of unlimited 

 liabilit}', by which the member's risk was rendered more 

 remote, was also introduced, but has been but little adopted. 



In the Schulze-Delitzsch societies, every member 

 subscribes a certain share of the capita], no one being 

 allowed to exceed a certain limit. This is payable in one 

 sum or in monthly instalments Loans are granted to 

 members only, without incjuiry as to the purposes for which 

 they are required, on security, which n;ay take the form of 

 mortgages, guarantee by another member, bills, etc. They 

 are only granted for short terms, and this is one of the 

 features wliich distinguish these associations from those on 

 the Eaifleisen pjrineiple. Deposits are received both from 

 members and from other persons, and these, together with the 

 small capital, form the fund from which loans are made, 

 while the credit due to the unlimited liability of the members 

 enables these societies to raise any money which may be 

 required in addition. The societies are usually established in 

 towns, but are open to any one, regardless of place of residence. 



The rate of interest on loans demanded by these banks 

 is higher than that required by the Raiffeisen associations, and 

 the)' are not so generally adapted to agricultural requirements 

 as the latter. It would be a mistake, however, to .suppose 

 that they do nothing for agricultural credit, as, according to 

 the figures for 1902, 281- per cent, of the members were 

 pieasants and farmers, 24-i- per cent, mechanics, and 10 per 

 cent, merchants and dealers. The numlier of societies 

 belonging to the Schulze-Delitzsch Union was 899, with 

 0.33,888 members. 



K.MFFEISEN B.\XKS. 



The loan and .savings banks founded by Raiffeisen may 

 be said to have three main objects: (1) to encourage thrift 

 among the agricultural population; (2) to .satisfy the demand 

 for loans on personal security ; and (3) to act as bankers in 

 the country districts. They rest to an even greater extent 

 than the Schulze-Delitzsch societies on the principle of 

 solidnrity or unlimited liability, in that, practically, no share 

 capital is raised, the money for working the society being 

 obtained from entrance fees, subscriptions, and deposits, and 

 borrowed from persons outside the society on the collective 

 security of the members. Loans are advanced only for 

 reproductive purposes, evidence being required of a reasonable 

 prospect of repayment at the date fixed, and they must be 

 guaranteed by another member of the society. The operations 

 of these societies are limited to small areas, usually a village 

 or small town, so that the personal character and circum- 

 stances of applicants for loans may be known to the members 

 and committee. The administration is honorary, no salaries 

 being paid (except a trifling sum to the Secretary), and all 

 profits realized go to a reserve fund. 



ARBOR DAY AT BARBADOS. 



Uv. J. R. Bovell, F.L.S., F.C.S., has forwarded the 

 following note on the observance of Arbor Day at 

 Barbados : — 



November P, the day set apart for the celebration of 

 His Majesty's birthday, was observed as Arbor Day, in 

 accordance with the proposals made last year by the Imperial 

 Commissioner of Agriculture. 



At an early date a list of plants available for free 

 distribution, some 2,14:3 in number, was published in the 

 Official Gazette, and the editors of the local newspapers were 

 good enough to call attention to the fact that persons de.sirous 

 of observing Arbor Day could obtain plants by applying to 

 the Superintendent of the Botanic Station, who would be 

 pleased to supply information for planting them to those 

 requiring it. 



The matter was energetically taken up, and applications 

 for 816 plants were received. Of these 791 were delivered, 

 a few of the persons who had applied for plants not sending 

 for them. 



The following is a list of the plants distributed : — 



Sivieteiiia inacrophi/lla, 7-5 ; Tecoma serratifolia, 4-5 

 Tecoiiia spectahilis, 17; Funtumia elastica, 75; Gliricidia 

 miKulata, 3.3 ; Erythrina urnhrosa, 13 ; Erythrina velutina, 

 9 ; Plntyiniscium j)lati/Machyum, 16 ; Lagerstroemia Flos- 

 lieginae, 29; Persea gratisdriui, 11; Cassia siamea, 22; 

 Cassia multijuga. 13 ; Cassia calanthes, 4 ; Cassia grandis, 

 .51 ; Casuarina equisetifolia,, 61. Total, 476. 



PALMS. 



Thrinax Morrisii, 32; Thrinax radiata, 13; Thrinax 

 harbadensis, 23 ; Thrinax parviJlo7-a, 11 ; llirinax argentea, 

 13 ; Sahal hlaMnrniana, 13 ; /Salial acaulis, 3 ; Sahal 

 Adansoni, 9 ; tiabal Palmetto, 36; Washingtonia fllifera, 20; 

 Ptychosperma Macarthurii, 19 ; Pritchardia paelfica, 24 ; 

 Dictyosperma album, 5 ; Corypha umbraculifera, 10 ; Livis- 

 toiia alti'ssiina, 6 ; Livistona chinensis, 6 ; Caryota urens, 32 ; 

 Aveca grandiformis, 11 ; Phoenix reclinata, 3 ; Phoenix 

 daetylifera, 10 ; Phoenix acaulis, 3 ; Oreodoxa oleracea, 2. 

 Total, 303. - 



The following plants were given away in addition to 

 those offered for free distribution in the Official Gazette : — 



Paullinia harhadensis, 4 ; Artocarpms incisa, 2; Psidium, 

 catlleianwn, 4; Step)hanotisJloribunda, 1 ; Neriiim Oleander, 1. 

 TotaL 12. 



