PROVIDING THE FUNDS 153 



composed of actual and potential borrowers, have risen in rebellion 

 against Government monopoly in the administration, facing their 

 opponents in the serried ranks of their organised Union. 



The points to be made sure of, as observed, are the good title of 

 the applicant to credit ; the certainty that the credit given will be 

 rightly employed, so as not to jeopardise repayment ; and the 

 certainty that it will be repaid. Now for such purposes, joint stock 

 banks — more particularly as they are now constituted — and even 

 farm loan banks, which appraise credit seekers in a capitalist way, 

 are only very inadequately equipped. To be able to judge of the 

 qualification of your applicant, you must know him well, you must 

 be in constant touch with him, and be able to maintain a constant 

 watch over his doings. Such conditions are to some extent fulfilled 

 in the case of the old private banker dealing with a select few of his 

 farmer-customers — not, be it borne in mind, of the small holder 

 class, of whom we are now mainly thinking. To establish such 

 conditions with a large number of small holders may be ruled out as 

 wholly impracticable for a joint stock bank, and much too trouble- 

 some, not worth the trouble, if it were practicable. Even under Scotch 

 cash credit — which has proved a veritable boon to its country — was 

 the minimum limit of credit granted kept much above what would 

 now be necessary for our purposes. At the present time it is very 

 much higher still. And Scotch bankers, having at that time — to 

 ourselves a backward, to Scotland then a most pushing time — the 

 printing press at their command for an absolutely unlimited out-turn 

 of paper notes, in which they dispensed their credits, went in this 

 matter to far greater trouble than bankers would care to submit to 

 now. They took as many as ten and even eleven sureties to one 

 loan, about all of whom they made inquiries. Joint stock banks 

 may, indeed, do something in the matter ; but that will not go 

 nearly far enough. A noted bank in Cornwall is understood to have 

 done so — without having any reason to regret it. And at the 

 present time bankers in Ireland are showing themselves distinctly 

 accommodating, even in cases of very small loans. However, the 

 area of their possible action must necessarily remain circumscribed. 

 And they, after all, give to farmers and small holders what at any 

 time they may take away again. Naturally they consult their own 

 convenience. There is no guarantee that the benefit will continue. 



Self-help banking is based upon this patent fact, that of all possible 

 judges of a person's character, of his honesty, trustworthiness, good 

 living, and also of his capacity for the conduct of his business, the 

 most competent and trustworthy are that person's neighbours. 



