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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 30, 1914, Lethbridge, Alberta FPJDAY, OCTOBER 30, 19M THE LETHBR1DGE DAILY HERALIi PAGE SEVEN CHRIBTABEL PANKHURTS BOBS Policy Still Unsettled Get Lease For the Next 30 Days we will Sell any Article in the Store AT COST This is a money saving opportunity. Why not secure your Xnws Presents now. We will accept and store goods. Special Prices in Our Optical Department for the NEXT THIRTY DAYS Ticket, entitling holder to a draw for Silver Tray every Satur- day, given with every purchase. WJ. Armstrong Raworth Successors to Raworth Bros. Armstrong. Commercial Banks Are Un- suitable for Needs of the Farmers Plan A land mortgage credit as- sociation after the pattern ot the Sciiaftcn, strictly co- operative in character. Plan 2.: A (and mortgage credit as- sociation siinila-F to' tlie iiijove, iHiu with a government guarantee, suflici- ont to bring it into-being, and cover- ing its operations for a sufficient term .ol years establish it on a permanent basis'.' Plan 31: A.joint stock company which for certain priviloges conferred would accept limitations; as :inter- est charges. Plan 4 A government land inort- eage hank similar to thrfse now ex- iting in Australia and New Zealand. The above are the suggestions for a solution ot the problem rural credit, outlined.'-in, a Dr. I! S Tory, president o! ihe IMver- isity of Alberta, and A. Bramley I ex-member of the legislature, Choice, tender, juicy Meats of finest quality is the basis on wMch we are build- ing business We have everything on the market, and highest in quality, hut not in price Our Meat Market is known for its cleanlinos and span appear- ance. Our response to telephone orders will please you. Phono 402 HealihP Meat Phone 493 The Alberta Meat Market ft. qOULTRY', PBOP, The Trademark is Your Safeguard BLURMBBON TEA Ask for Blue Ribbon and sure yoii get it. It stands for the highest grade of tea. thta Advirtliemtnt with ZS cenli Blw Ribbon, for the Ribbon Cook BMk. The bwk in wwl.rn tttrni who were members of- the commis- sion which toured Europe in an en; deavor to find out what other coun- tries were doing to help the farmers. The report, which is o! a voluminous character, was tabled in the 'provin- cial house by the Hon. Duncan Mar- shall. The report spates, that no solution would be a final one which did not make provision for both long term or mortgage credit and short term or personal credit. The four plans are merely made in broad outline, with the hope -that in a detailed study of them one may fee iound feas- ible for the purpose. BASED ON MORTGAGE IDEA Each of the solutions is based on the mortgage bond idea, the reason for this is tie belief that this is only method by which farm mortgagr es can be made sufficiently liquid to most the desired end. It has the ad- vantage of offering a desirable invest? ment 'to the small investor, and makes possible a form of security which should attract the most con- servative, once the value of the curtty becomes recognized. In the actual working of .the. first plan it might be either based on un- are most-of the German organizations, or the liabil- ity might be limited, as in a bank, to a certain multiple of- the share capital, or to a percentage in excess of the obligations incurred. The plan would necessitate a series, com- munity associations formed .of bor- rowers who would join their credit ior mutual hc.lp. Above the commun- itv association would fcs a centra! body which would act as a clearing IOUSB for the community association, and you walk with a sure-footed tread when your winter boots are heeled with This picture was: taken on her ar- rival at New York on board tile S. S. Finland on which she travelled incog- nito; her follow passengers were sur- prised to learn of. her identity. She Is under suspended sentence in Eng- land. neg-ina.'Oct.- following pro- motions of mounted police were an- nounced this morning by Commission- er Perry To he superintendents. In- spectors G. S; Worsley, R- S. Knight; to be Sergt.-Major F. Stafl-Sergt. C. H. Ki D. Cadiz, C. D. Lanaurze, N. II. Vernon, F. Cha- ney, H. A. L. LOCAL MESBBFi1 -ENLISTS Port Arthur, bnt, Oct. M.P.P. for P.ort Arthur, will go" with the "second contingent as a lieutenant ol' traliBUort. which is conceived primarily in tho interests of commercial business. RATES OF INTEREST "In spite of thfi fact that the Can- adian Act makes it supervisory control over i continues the report; "for money tc" be: loaned by the hanlis at a greater rate of interest than seven per cent, it is not unusual ior the rate of in- terest on these small loans to go even as high as twelve per cent outlj ing localities them, and be the medium for issuing bonds to cover the borrowings of the community., associations. The munici- pality might be made the unit of or- ranlZEttion. It would be necessary to rjis.e money hy the sale oi mortgage, particulaily _ londs fnmr the rate of interest and mis statement is not necesspril) ol- nceptlnz such puce-, js coulcl r-e ob- feied as a critiu-m, !or the reason that the amount of business to ba found m small localities v ould baldly warrant the office of the bank in many districts were the business dope on a normal basis The ''uasuitability of the commercial hanks to the neci's of the farmer the small farmer, has made necessai} in every country H Europe the foun-iaiion of the finan- cial institutions for the express pur- agriculture tamed, just as anv municipality loses oi its bonds. THEN SECOND, PLAN Under the'second plan 'it would be. necessary to have- a, central .or- ganizatica managed by a commission appointed by the government This commission would be gradually re- placed by one appointed by'the asso- ciation itself, as the term of the guarantee expired, when the institu- tion should become independent, Unr der the direction and control of the central ergjumations, local associa- tions woald be formed on co-opera- tive nlan, us in-plan 1. The outstanding example in plan 3 ,s the Credit Foncier of France It is subject to legislative restrictions It is a jd.nt stock company under government control, bv reaeon oi tto privileges by tlae government The plan would necessitate the or- pinizjttion of