BURAL ECONOMICS. 389 



seeds, and by improving the methods of handling, grading, and pacliing farm 

 produce has been able not only to increase the profits of farmex*s but to stimu- 

 late them to greater efforts along the lines of diversified agriculture. The con- 

 sumer has been benefited by having a more even and better graded supply of 

 farm produce. The requirements of the division in the future are noted. The 

 demand, methods of preiiaring for market, and range of prices ai"e given for a 

 long list of farm produce adapted to Hawaii. 



The farmers' cooperative exchange, A. E. Canoe (Mass. Agr. Col., Ext. 

 Sei'v. [Pub.'], 1914, PP- S4)- — The author outlines the principles that should 

 serve as a guide to farmers desiring to form cooperative societies for buying 

 agricultural supplies or collecting, shipping, selling, storing, and manufacturing 

 farm products. Among the essentials to success pointe^l out are that a given 

 community should have sufficient material to do a cooperative business, that the 

 cooperative area should be small, that the members be loyal and have but a 

 single purpose in cooperating, that a good manager be employed and be given 

 sufficient money to advertise and to do business on a cash basis, and that 

 incorporation be on the principle of " one man one vote." He also calls atten- 

 tion to some of the possible fields of agricultural cooperation in New England 

 and suggests forms that may be used in establishing cooperative exchanges. 



Monographs on agricultural cooperation in various countries (Inst. 

 Intemat. Agr. (Rome), Serv. lyiat. Econ. ct Sac, 2 (1914), PP- yiI+238). — This 

 is a continuation of the monographs previously noted (E. S. R., 27, p. 590), 

 and contains notes and statistics on the movement of agricultural cooperation 

 in Argentina, the development and actual conditions of agricultural cooperation 

 in Austria, agricultural cooperation in Hungary, Croatia and Slavonia, and 

 Italy, and the organization of agriculture in Switzerland. Accompanying each 

 section is a series of demographic and economic statistics and a bibliography. 



Agricultural cooperation and rural credit in Europe. — Bibliography ( U. S. 

 Senate, 63. Cong., 1. Sess., Doc. 214, pt. 2 (1913), pp. 79).— This document 

 contains a complete bibliography of the literature on the agricultural credit 

 and cooperative systems of European countries collected by the American Com- 

 mission (E. S. R., 30, p. 492). 



How to use farm credit, T. N. Cabvek (U. 8. Dept. Agr., Farmers' Bui. 593 

 {1914), PP- 14)- — The nature and use of capital are discussed, and it is pointed 

 out that with the increase in the value of land and the use of machinery has 

 arisen increased demand for credit or capital. Some of the important rules 

 mentioned as to the use of credit are to make sure that the purpose for which 

 the borrowed money is to be used will produce a return greater than needed to 

 pay the debt, rather than merely pay living expenses, that the length of time 

 a debt is to run has a close relation to the productive life of the improvement 

 for which the money is borrowed, and that for long-time loans arrangements 

 be made for gradual reduction of the principal. 



Included in this publication are a series of amortization tables showing the 

 annual payment necessary to pay off a debt of $1,000 under varying rates of 

 interest and periods of time. 



The rural credit situation of the United States, H. Macpherson (Oreg. 

 Countryman, 6 (1914), ^o. 7, pp. 371-373). — The author includes among the 

 essentials necessary to afford the farmer proper credit facilities that the credit 

 system should aim at service and not at dividends on stocks, and that it should 

 have local banks with a central bank as a clearing house, a system of repay- 

 ment on the amortization plan, an effective system of floating the bonds on 

 farm mortgages, and a simplification of the present land registry system. The 

 author points out some of the defects in pending legislation. 



