BOOK FIFTH. 



The Farmer as a Cooperator.* 



CHAPTEK I. 



THE PRINCIPLES OF COOPERATION. 



IN the conduct of any business there are two elements whose 

 combination produces success or failure; these are the 

 principles upon which it is established and the character 

 of those in charge of it. A business, whether great or small, 

 must be founded upon correct principles or it can not endure 

 the strain of competition, and in the end will be un])rofitable. 

 An exceptionably capable or industrious man may for a time 

 sustain a business against unfavorable conditions, and an 

 incompetent or idle management may ruin a business how- 

 ever well planned, but in the long run a business must be 

 wisely planned in order to endure, and if thus well founded it 

 will succeed under ordinary management. 



In a general sense all enterprises are cooperative wherein 

 more than one person is concerned. A bank is a cooperative 

 society for lending money; a railroad company is a coopera- 

 tive society for building a railroad. Any business is coopera- 

 tive wherein many persons unite for the attainment of an end 

 desirable to all, but unattainable, or less readil}^ attainable, by 

 any of them singly. The ideas and conduct of such enter- 

 prises as are mentioned above, are fully competitive, and 

 involve the profit of the few at the expense of the many. 



It is desirable that the public acquire clearer ideas than are 



*See Appendix F for documents rolating to corporation, 

 (202) 



