106 FRIENDLY SOCIETIES 



The depot's close connection with the 

 small owners enables them to see just how 

 far credit can be profitably and satisfactorily 

 given, and just how the money thus advanced 

 is spent by the small owner. The system pro- 

 vides that close and intimate personal contact 

 with the cultivator which local committees on 

 other credit bank systems usually provide, but 

 with this distinction, that the borrower is not 

 compelled to reveal his financial position to 

 his neighbours. 



In many instances small owners have suc- 

 ceeded in gettmg their own Friendly Societies 

 to advance them on mortgage sufficient money 

 at interest of 4 and 4i^ per cent, to build their 

 houses. Before these mortgages are carried 

 through the Society naturally investigates very 

 thoroughly the position of the owner, and the 

 fact that they are thus able to financially 

 assist the small owners is evidence of the 

 soundness of their position. 



The development of the Fairby Farm has re- 

 sulted even more satisfactorily than was antici- 

 pated. There has been no upheaval through 

 the sudden transfer of the land from one large 

 owner to a number of small owners, and no 



