Seventy-Thiku Anxual Eepoet 1177 



ready introduced into the legislatnre, to control the business in- 

 volved in the sale of farm products, in such a way as to protect, 

 through state inspectors, both the commission man and the farmer 

 from dishonesty and fraud. If this l)ill can become a law, and 

 if the bill for the formation of cooperative associations can become 

 a law, a new day will dawn for the industry of farming not only 

 in Westchester County but throughout the State of Xew York. 



I wish also to say a single word in favor of the formation of 

 credit unions. ]\Ir. Yoakum, in a recent article in the " World's 

 Work," pointed out that it costs the farmers of the United States 

 hundreds of millions of dollars more to borrow the money which 

 they need for the purchase and operation of their farms, than it 

 costs the farmers of Europe to do the same thing. This is be- 

 cause the business of extending credit to farmers, like all other 

 parts of the farmer's business, has been left completely unorgan- 

 ized in this country. The margin of profit, heretofore, has been 

 large enough to make us careless as to these things; but now, the 

 day of necessity is upon us, and we shall be wise if we learn, from 

 what has been done elsewhere, what can be done here. 



Mr. Chairman, I say again, as I close, that I am earnestly in 

 favor of the bills now pending in the legislature, in favor of regu- 

 lating the business of commission merchants in farm produce; of 

 facilitating farmers' unions, to make credit more available to 

 farmers ; and for forming cooperative societies, so that the farmer 

 of K'ew York State may have the opportunity, in his ovni way, 

 and with his own wit, to develop here the system which, wherever 

 it has been tried, has been found advantageous to the farmers of 

 the land. In speaking in behalf of these bills I do not wish to 

 co:nniit myself as to every detail ; except to say that, so far as I 

 have examined them, they seem to me to be, in the main, well 

 adapted for their purpose. 



The Pkesidext: I know that I voice the feeling of all when 

 1 say that we have appreciated very much this clear, concise 

 presentation and clearing up in a way of a topic that has been 

 running through all our minds, and I desire to thank ^Fr. Low 

 personally, as I know the society does, for hclinng us in this 

 program. 



