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Agricultural Credit Banks. 



Banks, to deal with the problem economically. But 

 apart from these well secured loans, a certain ex- 

 pense is incurred in organising the system, and spreading 

 information throughout the country on the subject. 

 The cost of this falls upon the Co-operative Banks Associ- 

 ation, the smallness of whose funds is one of the principal 

 causes of the comparatively slow growth of the movement. 



This economic form of self-help would be aided by the 

 removal of certain heavy restrictions in connection with the 

 registration of Agricultural Credit Societies. At present,, 

 unlike ordinary Friendly Societies, they are much handi- 

 capped by having to pay a registration fee of £i, and 10s. for 

 every amendment of their rules. They are also charged 

 stamp duty on their receipts and agreements, which adds 

 considerably to the charges which they have to make for 

 small loans, besides being denied priority of claim against 

 estates of officers. Representations are being made to the 

 Treasury on these points. 



The British mind is notoriously slow in adopting new ideas,, 

 but makes up for this defect by steady persistency when 

 once it is convinced of the practical utility of a scheme. 

 Co-operative credit is no fad of the visionary enthusiast,, 

 but it requires much thought, time and trouble expended 

 upon it, especially in its early stages, all of which will be well 

 repaid by results. 



We have confined ourselves in this article to a description 

 of small Agricultural Credit Societies, but the principle is 

 capable of adaptation for the benefit of those engaged in larger 

 operations. 



Henry C. Devine. 



