RUEAL ECONOMICS. 893 



agripnltuiiU crodit in Dane ;iiul Kusk counties and a part of Douglas County, 

 Wis. Tlie county records of mortgages, statements of local trust and loan com- 

 panies, bankers, mercbants. and farmers were used principally as a source of 

 information, 



Tlie report indicates that it was more difficult to obtain loans and that the 

 interest rate was higher in the northern counties than m Dane County, that 

 the mortgagetl farms are smaller than the unmortgaged farms but have more 

 live .stock and more invested in buildings, and tliat the average mortgage runs 

 for about five years. Itusk County mortgages are smaller, relatively more 

 numerous, and pay interest at a higher rate than those in Dane County. 



The local men furnish nearly three-fourths of the money for Dane County 

 farm loans. Of the Dane County mortgages, 81 per cent are for the purchase 

 of land as compared with 68 per cent of those in Ruslc and Douglas counties. 

 Chattel mortgages are more numerous in Rusk and Douglas counties than in 

 Dane County. 



It is estimated that store credit interest is 1.5 i)er cent per annum and the 

 average account runs for four months. 



The report concludes that personal credit is more imperatively needed than 

 land credit, and that this need is more acute in the northern than in the south- 

 ern counties. A law providing for farmers' credit unions is also needed. 

 Amortization schedules and tables, prepared by E. B. Skinner, are also in- 

 cluded. 



The Jewish Agricultural and Industrial Aid Society (Jewish Agr. and 

 Indus. Aid Soc. Ann. Rpt. IDlJf, pp. 61). — This report continues that previously 

 noted (E. S. R., .30, p. mW). 



Among the data shown are that 41 per cent of the loans granted during the 

 year were to i)urchase equi]mient, 2G per cent to pay off mortgages or other 

 debts. 18 per cent to construct or to repair buildings, 12 per cent to purchase 

 farms, and 3 per cent to increase the working capital. The report also indi- 

 cated that 29 per cent of the loans were to farmers who had been on their 

 farms less than one year and 20 per cent to those who had been on their fax'ms 

 from one to two years. 



[Societies for agricultural production and distribution] {Bd. Trade [Gt. 

 Brit.], Ahs. Labor t^tatis. United Kingdom, 11 {1915), pp. 2// 7-25//). —These 

 pages contain statistical tables showing for the societies organized for the pro- 

 duction and distribution of agricultural products in the United Kingdom the 

 number of organizations, membership, capital, and business conducted from 

 189S to 1912. 



[The organization of creameries and cheese factories], E. H. Farrington 

 and G. H. Benkendorf (Wiseonsin Sta. Bid. 2-'f-'f {lOlo), pp. 3-20). — The authors 

 believe that to insure success there ijhould be at least 400 cows for a creamery 

 and 200 cows for a cheese factory. They point out the distinction between 

 proprietary and cooperative factories and joint stock comiianies and cooperative 

 associations. There is outlined a method of organizing, articles of incorporation, 

 suggested by-laws, and a scheme for financing the work. 



Farm records and accounts, E. L. Currier {Montana 8ta. Circ. 43 {1915), 

 pp. 81-109, figs. 2). — The author outlines what he considers the salient features 

 of farm records and how they should be kept. lie believes that the farmers 

 should n)ake a daily work record, keep account of all cash transactions, and 

 make an annual farm inventory. He submits model forms and points out some 

 of the most common difficulties in farm accounting and how they may be 

 overcome. 



The agricultural outlook {U. S. Dept. Agr., Fanners' Bui. 651 {1915), pp. 

 1-4, 5-29). — This number gives the estimated number of live stock on January 1, 



