82 THE LAND AND ITS PROBLEMS 



were slightly lower than they were in England — and yet, 

 owing to the perfect organization of the industry, the 

 Danish farmers were earning a far larger profit than their 

 English confreres. Organization does pay. 



Perhaps the most important feature in the Co-operative 

 movement was the creation of Credit Societies, which 

 placed capital at the disposal of the cultivator in the form 

 of short term loans. This access to capital was invaluable 

 to the small farmer ; it made him a capitalist, instead of 

 having to struggle all his life against the evil of insufficient 

 capital wherewith to run his holding properly. 



People who do not understand the question often 

 point out that the Danish farmers, large and small, 

 have been prodigal in borrowing ; but they do not add 

 that the borrowing is sound borrowing, that the loans 

 invariably carry a sinking fund — and that it is good 

 business to borrow at 6 per cent or 7 per cent if the loan 

 earns 15 per cent or more for the borrower. 



The increase in production in Denmark between 

 1888 and 191 3 has been remarkable, in fact, in regard 

 to wheat production, the most remarkable in the world. 

 For its size, Denmark had about the same proportion 

 under wheat that we had in 191 3, and the average yield 

 has been raised from 30 bushels per acre to 40 bushels 

 per acre ; and since 191 3 the average has considerably 

 exceeded that figure, having reached 45, 47, and 48 

 bushels per acre for 1916, 1917, and 1918. 



The conditions under which milk is produced in 

 Denmark are extremely good, due chiefly to the fact 

 that the bulk of the milk is sold to the co-operative 

 creameries and they insist upon receiving milk in first- 

 class condition ; and the societies have drawn up strict 

 regulations in regard to the handling of the cows and 

 of the milk. This is far sounder than our system 



