Working Systems 



ago farmers' clubs were started, which pro- 

 vided centres for social intercourse, and for 

 the dissemination of information beneficial 

 to the agriculturist. A group of twenty 

 or thirty of these clubs was affiliated to a 

 parent club in the nearest big town, the 

 central or parent club having a financial de- 

 partment. If a member of one of the local 

 clubs wished to borrow money, he went to 

 the parent club, entered the financial depart- 

 ment and asked for a loan. The clerk asked 

 him if he owned his land, or if he were a 

 tenant. If an owner he could borrow up to 

 80 per cent, of the value of his assets ; if a 

 tenant, up to 60 per cent, of the value of his 

 stock and tenant right. There was a form 

 of agreement costing only 2s. 6d., which the 

 farmer had to sign, and that was all. The 

 transaction was simplicity itself, and the man 

 left the club with the amount he wished to 

 borrow in his pocket. The security was, 

 firstly, the character of the man, every care 

 being taken in selecting the members of the 

 local clubs, and secondly, legislation gave 

 the central club precedence over all creditors 

 should the borrower become bankrupt. 



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