Fortunes for Farmers 



to farmers. The difficulties that beset them in 

 England have been largely solved on the Continent 

 by the establishment of agricultural loan banks. 



Our Government are taking the matter up, and 

 there is a likelihood of some such system being 

 introduced here. It will be a most desirable 

 innovation. 



RafTeisen was a German philanthropist, who, 

 to help the peasants in his own village, started 

 a bank on a new principle. There were no paid 

 officials and no capital in the ordinary sense. A 

 group of small holders in a village or immediately 

 around join together to secure loans for their 

 members from some outside source, each member 

 accepting unlimited liability for repayment. Thus 

 no one of doubtful character is admitted, as the 

 capital of the syndicate is the character of its 

 members. 



They meet in committee to decide who shall 

 join and who shall have a loan and how much it 

 shall be. This is the strongest point, because a 

 small farmer cannot possibly deceive his neigh- 

 bours. They know all about him — every detail — 

 and make very few bad debts. The idea started 

 in 1849, and spread from Germany to Austria, 

 Italy, France, and Belgium. The unlimited 

 liability of each member which at first sight 

 seems a disadvantage is the essence of the system's 



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