48 THE LAND AND ITS PROBLEMS 



be qualified to take an active part in agricultural develop- 

 ment. But it is only those who have been thoroughly 

 trained, and who mean to make farming their main 

 occupation in life, who should attempt it on any large 

 scale. 



For those who are engrossed in public business or 

 other occupations, there is still a way in which they can 

 take a practical interest in farming — and farm their own 

 land, and that is by adopting the partnership system. 

 This has been largely developed in the United States 

 and other countries ; it has rarely been resorted to here, 

 and yet the advantage to the landowner is great. 



MORTGAGE 



Stress has been laid on the evils of the mortgage, and 

 landowners have suffered and still suffer from the mort- 

 gages that weigh down so many estates. Long ago they 

 should have taken steps to free their land from mortgage ; 

 at this moment money is too scarce and dear to do any- 

 thing in the matter. 



But we can see how it might have been done if we study 

 the Landschaft system of credit in Germany. Briefly, 

 landowners grouped together and pooled their land for 

 the purpose of providing collective security ; any 

 member of the local group or society could borrow 

 money for the purpose of developing his estate. Bonds 

 were issued which were negotiable in the open market, 

 and were eagerly sought after. A sinking fund was 

 provided which extinguished the loan in 40 years. 



The system has worked admirably for over 100 years. 

 In 1914 over ,(^150,000,000 worth of these bonds were 

 current. 



