740 Agricultural Co-operative Credit Societies, [dec. 



to reap the return on his expenditure, and the date for repay- 

 ment is therefore generally from six to twelve months after 

 the date of the loan ; some loans, however, were granted for 

 two years, repayable by six-monthly or annual instalments. 



The members agree in saying that they have derived great 

 benefits from the existence of these societies, which have 

 enabled many of them to obtain the small loans needed 

 for their agricultural operations at a lower rate of 

 interest than they would have had to pay elsewhere, and 

 some of them to obtain loans who could not otherwise have 

 borrowed at all. They cite instances of men who were 

 enabled, by a loan trom the society, to buy and feed sheep, 

 pigs, or cattle, to hold over stock for better prices, to procure 

 seed, plants, or manure, to work their land to better advan- 

 tage, or to add to the area of their holdings, and of some 

 who, by means of a succession of such loans, have risen from 

 the position of labourers to that of substantial small-holders. 



The establishment of these societies in the rural villages 

 in which they are found has evidently not only added to the 

 prosperity of many of the villagers, but has stimulated neigh- 

 bourly feeling by showing men how they can help their 

 fellows by the exercise of care and mutual trust, without any 

 real pecuniary risk to themselves, has encouraged thrift and 

 efficient methods of cultivation, and has at the same time 

 increased the self-respect of the individual members, and 

 inspired them with hopes of progress. 



