II Dec, 1911.] 



Agricultural Credit Banks. 



805 



Each applicant for a loan is required to furnish the f(jllo\ving par- 

 ticulars for the information of the Board of Directors : — 



1. Full name of applicant — 



2. Official address — 



3. [a] In what capacity employed — 



(b) Whether employed permanently 



or temporarily — 



(c) Amount of salary, wages, or 



fees — 

 {d) Married or single — 



4. (a) Date from which loan is re- 



quired — 



(b) Period for which loan is re- 



quired — 



(c) Purpose for which loan is re- 



cpiired — 



5. Is the applicant under any liability 



— (a) as a borrower, or (b) as a 

 surety for any borrower ? — 



6. Has the applicant (a) been insol- 

 vent, or [b) made any arrange- 

 ment with his creditors? — 



7. Has the applicant given a bill of 



sale over any portion of his 

 property ? — 



8. Is there any judgment pending 



against the applicant? — 



9. What security is offered ? — 



10. What sureties are offered? — 



11. Names of sureties in full — 

 Address (private and business) — 

 Trade or profession — 



How long known to borrower — 

 Are j)roj)osed sureties creditors of 

 or in any wa}- responsible for 

 borrower in any other transac- 

 tion ? — 



Adaptation to Australasian Conditions. 



The success of credit banking in European countries and elsewhere is 

 such as to recommend its adoption in these southern lands. Victoria has, 

 in the instance just quoted, shown the way. It seems, however, that its 

 general application to the needs of the farming community will be first 

 given effect to in New Zealand. Sir Joseph Ward, Prime Minister of 

 tlie Dominion, has recently announced the intention of his Government to 

 establish farmers' co-operative banks to enable men of small means, or 

 associations of men, to whom credit is not readily accessible under the 

 existing banking system, to obtain it for productive purposes or purposes 

 insuring economy. The banks will be incorporated and empowered to 

 borrow money for the purposes of loans to their members. 



Provided that the safeguards of selection, discrimination, and control 

 are .strictly applied, it is evident that credit b.inking may be safely 

 entered upon. The Co-operative Credit Bank of Victoria has, in 5^ years, 

 granted 1.744 loans totalling nearly ;^ 19. 000. and has sustained but one 

 loss. This is truly an excellent record, and it has been accomplished 

 by a bank the sharehnhlers of which number 1,180. and who are scattered 

 throughout the State, and with whom the directors have no means of 

 getting into personal touch. That being so, purely local institutions, 

 managed by local residents whose interests and those of the borrowers 

 are identicd, should be similarly successful. li. bv means of credit 

 banking, our settlers ran increase the area iiinlci- cultivation and the 

 numljer of their stork, both the State and the ii)(li\idual will Ix' the 

 richer. 



