COOPERATIVE AGRICULTURE


all familiar; the third group is seen in the labor unions, such
as Knights of Labor, the American Federation of Labor,
the miners' unions, etc.. and the Farmers' Alliance, the
Grange. the Farmers' Union, etc.; the fourth group is ex-
emplified in the cooperative enterprises for purposes of
production, distribution and finance.


 Rural Credits In Foreign Countries
 By T, J. Brooks, Assistant Commissioner of Agriculture
 EUROPEAN BANKING SYSTEM

 I. Commercial.
 Governmental
 Private.

 II. Cooperative and non-cooperative credit systems
 1. Land loans.
 Landschaft: German.
 Is merely a syndicate of land-owning borowers;
 supervised and regulated by the government but
 operated by the members; makes long-time loans on
 mortgages, all land mortgages pooled and bonds
 issued on them; bonds sold on open market; loans
 repaid by amortization; both limited and unlimited
 liability, with the former tendency; the Landschaft,
 as are all other European cooperative associations,
 exempt from taxation; loans to members only
 2. Credit Foncier French
 A non-cooperative, centralized institution, patt-
 erned to a large extent after the Landschaft; gov-
 ernment appoints principal offices as well as super-
 vising and regulating same; debentures issued on
 collection of mortgages, short-time loans and long-
 time loans made. the latter being repaid by amortl-
 zation; loans repaid at the option of the borrower
 and equal amount of debentures recalled; limited
 liability.