PROVIDING THE FUNDS 151 



law is given them under which to form, have invariably known how 

 to adapt their provisions to existing wants in view of changing con- 

 ditions. And since their administration is discretionary, there has 

 been no awkward interregnum. Moreover, self-help institutions 

 have shown themselves possessed of the invaluable advantage of 

 securing to their customer-members establishments of their own, 

 independent of the smiles or frowns, the caprices or meddling, of 

 outside bodies — establishments that may be relied upon to last, 

 and that cannot be taken away to satisfy the whim of any one. 

 And not only in the dispensing of credit has their " elasticity " been 

 splendidly shown and approved itself. They are " elastic," at their 

 own will, also in other matters. In Germany and Italy, be it noted, 

 self-help banks have spread banking — which at the start they found 

 neglected and very insufficiently provided, and faulty in the bargain 

 — over their entire country and radically improved it. Together 

 with a credit counter they have opened a banking counter for all 

 purposes to the small man, to his own and to the community's 

 benefit. They have there acclimatised the use of cheques. And 

 they have effectively planed the way for other most valuable services 

 spoken of on these pages under the heading of " Co-operation." 



It may be that in bringing forward self-help at once, as if it were 

 the only alternative to State help, I may be thought to have been 

 moving too fast. Perhaps I ought to have referred first to assis- 

 tance by services possible, other than either State or self-help, such 

 as non-self-help monetary institutions are in a position to afford, 

 One notable such case is that of the banks and associations formed 

 in the United States, however, under the Farm Loan Act, with 

 which that of the assistance given in Canada by the associated 

 banks may be coupled. In the United States the National Union 

 of Farm Organisations, a powerful body, is now trying to convert 

 this State-endowed and State-governed institution into a more co- 

 operative organisation, in which the Farm Loan Associations, pro- 

 viding money of their own, and being given the representation due 

 to them, are to have the great say. 



It must be evident that the power of action of such bodies will, 

 under the conditions detailed, be extremely circumscribed. Their 

 practice is to some extent, even in the two cases just instanced, based 

 upon quick transactions. There are few that can grant credit 

 wholesale for terms such as are indispensable in agriculture, be it 

 large or small. Special institutions of quite a novel kind would 

 have to be created for the purpose, and the prospects of financial 

 gain which such might offer are scarcely of a nature to attract 



