42 



AGRICULTURAL CREDIT BANKS. 



Although the advantages of co-operative credit have for 

 several years been urged upon those interested in the welfare 

 of our rural districts, considerable ignorance still exists 

 regarding the constitution of agricultural credit societies, 

 and the benefits they are capable of conferring. 



The testimony to the success of this form of popular 

 economic activity in Germany and other Continental coun- 

 tries is so widely known that it is needless to repeat it here. 



Any who may happen to be unacquainted with the 

 progress of the movement abroad could not do better than 

 refer to Mr. Henry W. Wolff's writings on the subject. 



But many who have read these and other glowing records 

 of the chroniclers of Continental co-operative credit have not 

 yet quite arrived at belief in its practicability for this 

 country. The contrast between the conditions and character 

 of the English labouring classes and those of Germany, 

 France, Italy, Denmark, and other countries where co- 

 operative credit flourishes, is supposed by some to be a 

 barrier to its equal success with us. 



The best way to overcome the theoretical prejudices of 

 these and other objectors is to demonstrate by practical 

 experience that their fears are groundless. 



This has already been done to a small extent in England, 

 and on a more extended scale in the sister isle. 



Before describing the structure of agricultural credit 

 societies and the best methods of establishing them in 

 greater numbers, a short resume of some of the transactions 

 of English village banks affiliated to the Co-operative Banks 

 Association (of which Mr. R. A. Yerburgh, M.P. ; is chair- 

 man) will give an idea of their possibilities of usefulness. 



The first village agricultural credit society in England 

 was founded in July, 1894, at Scawby, Lincolnshire. It had 



