18 Villape Clvhs and Associations. 



between many of the members, most of whom are small hauliers, 

 is remembered. 



Credit and Stock Improvement Societies. 



Amongst the modern associations which fill the place of the 

 ancient guild and parish organisations, are credit societies, 

 cattle improvement societies, and horticultural societies. 

 Credit societies are comparatively recent and have been formed 

 for the purpose of advancing loans to villagers who are 

 struggling to maintain or to improve their economic position. 

 Though perhaps primarily intended to provide assistance for 

 allotment holders and small cultivators, an analysis of the 

 actual membership of several societies has revealed the fact 

 that village artisans and tradesmen, in fact, all classes except 

 large farmers, have received benefit from their activities. 

 There are now about thirty societies which make loans to 

 members, though over forty have been registered. They have 

 all been formed since 1890, and most of them since the opening 

 of the present centm*y. All credit societies seem to be registered, 

 which may be atti'ibuted partly to the peculiar character of 

 their business and partly to the fact that they are the result 

 of stimulus or assistance given to villagers by interested 

 persons of superior social standing. Membership is confined 

 to residents in a definite area and to "persons of approved 

 character." Shares are generally taken by members, but only 

 a small percentage of share capital is paid up. The liability of 

 members for debts of the society is unlimited. For the purpose 

 of loans capital is sometimes given by friends of the societies, 

 or money is obtained from joint stock banks. In fact, many 

 societies were started by loans from the originators of the 

 institutions or other friendly persons. At the present time a 

 considerable amount of the loan fund is derived from deposits 

 placed with the societies. In 1910 deposits with thirty-one 

 societies amounted to over 1,OOOZ., debts to other banks to 

 nearly 500/., gifts to 150Z., and earned profits to 155/., while 

 loans amounted to 1,500/. The number of members varies 

 between half-a-dozen and fifty, the average being about twenty- 

 four. About one quarter of the members receive loans each 

 year, the amount varying between 2/. and 50/., and averaging 

 about 15/. Loans have been made for almost every conceivable 

 purpose in legitimate village trade and industry, but in every 

 instance the purpose to which the loan is to be applied is 

 approved by the committee, and no applications of funds to 

 other than approved purposes are allowed. Probably most of 

 the loans have been applied to agricultural purposes, but many 

 trade loans, including some to contractors to build cottages, 

 have been made. The rate of interest charged is usually about 



