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PROVISION OF BORROWING FACILITIES. 



societies are less necessary to large than to medium and small holders; 

 they can usually obtain credit more readily and on better terms than 

 the latter from commercial bunks, although in common with other 

 farmers they usually require such credit for longer periods than are 

 customary in commerce. And in Germany, at least, such bank 

 credit is far dearer than co-operative credit, and repayable under more 

 unfavourable conditions. That even large holders in England do not 

 obtain all the credit they need at their banks appears clear from the 

 considerable volume of credit which is at present extended to farmers 

 by dealers and factors for periods of a year or more. 





