22 CO-OPEKATION IN DANISH AGKICULTUEE 



surplus capital from the Eaiffeisen Banks on loan, and lends 

 money to those banks which require it. This institution also 

 secures loans from outside and undertakes certain other trans- 

 actions, such as joint purchase of goods, etc. A special manag- 

 ing bureau, " Anwaltschaft," was organised in 1877 for the 

 double purpose of establishing societies in more and more dis- 

 tricts, and of helping those already in existence, promoting 

 their interests, and representing them in their external relations. 



After the year 1880 the grovvl^h of the credit societies became 

 extraordinarily rapid, and when Raiffeisen died, about 1500 

 societies had joined the movement, most of which were Credit 

 Societies, but there were also co-operative dairy societies, 

 corn silos, societies of vine-growers, distilleries and similar 

 societies on co-operative lines. The German Credit Banks 

 of the Raiffeisen type, more or less modified, have all followed 

 the main principles : to assist personal credit, to confine their 

 activity to within a small district, to rely on joint liabihty. 

 The philanthropic aims which Raiffeisen loved to set the earlier 

 societies have mostly disappeared from the rules of later Credit 

 Banks, which endeavour to secure the best business manage- 

 ment on the above-mentioned principles. 



The stir caused in Germany by these Schultze and Raiffeisen 

 Credit Banks soon attracted the attention of other countries 

 where, particularly after the severe agricultural depression in 

 Europe in the eighties and nineties, farmers were in sore need 

 of working capital. " Des caisses Raiffeisen " were formed in 

 France after 1898 ; Ireland had at the same time its Credit 

 Societies of the true Raiffeisen type : with full joint liability, 

 no shares, no dividend, and quite insignificant cost of manage- 

 ment. The first of the Irish societies was formed in 1894 ; 

 the number increased fairly rapidly until about 1907, after which 

 time there has been a shght falling off. Similar Credit Banks 

 have been formed in Austria, Russia, Italy, India, and many 

 other countries. 



