June 1895.] CO-OPERATION AMONGST IRISH FARMERS. 



11 



storage of corn grown by members, and has undertaken the sale 

 of then- wool. 



Some of the Joint Purchase Societies buy for cash, and others 

 for credit. Those buying for credit give security to the manu- 

 facturer for the payment of their accounts. In these cases 

 a committee is formed of the largest shareholders and the most 

 solvent farmers in the paiish. These men give their individual 

 and joint security to the manufacturer that the accounts shall 

 be paid. In addition, a deposit Vcirying from 2 ^ per cent, to 

 5 per cent, of th^ value of the goods bought is deposited by each 

 purchasing member over and above the actual cost of his purchase, 

 and this is held over until the end of the year, when the 

 accounts become due, as an insurance fund against bad debts. 



A recent and interesting example of the many useful purposes 

 to which the principles of co-operation have been applied in 

 Ireland is furnished by the Doneraile Bank in the county of 

 Cork. According to the Annual Report, 1895, of the Irish 

 Agricultural Organisation Society, this bank was started as an 

 experiment in February last under the management of a local 

 committee of farmers and labourers, and has already lent 

 upwar-ds of 100?. in small sums. The capital has been sub^ 

 scribed by members, or borrowed from persons interested in 

 the experiment on the joint security of the shareholders. Loans 

 not exceeding 50?. and bearing interest at the rate of 6 per cent, 

 are advanced for an unlimited period and for any purpose 

 which will, in the opinion of the committee, either render a 

 profit or effect a saving to the borrower. Each member applying 

 for a loan has to find two sureties. As a further security against 

 loss, only temperate and industrious persons of good character 

 are admitted as members. 



In conclusion, it may be noted that the latest reports as to 

 the progress of co-operation amongst Irish farmers indicate that 

 the movement is rapidly gTOwing in public favour. And it is 

 maintained by the organisers of the movement that it has been 

 the means of bringing many advantages within the reach of the 

 poorer members of the rural community. 



