RURAL CREDIT

Evening Post, Volume CVI, Issue 7, 9 July 1923, Page 7

RURAL CREDIT

SYSTEMS IN CANADA

AN AUSTRALIAN'S INVESTIGA-

TION.

(UNITED PRESS ASSOCIATION.—COPIRIOHT.)

(AUSTRALIAN - NEW ZEALAND CABLE ASSOCIATION.)

NEW YORK, Oth July. Mr. Hall Turner has arrived here after investigating the rural credit organisations of Manitoba, Ontario, and Quebec. He found them elementary in the former two provinces, where the majority of these organisations have only "between 30 and 100 members, and the credits run into about 20,000 dollars per organisation. Farmers, he states, depend for long-time credits upon other large hanking concerns and only for small matters upon rural credit organisations. The investigator feels that Australia, which already has long time credit organisations cannot draw many lessons from the rural credit societies of " Canada. There are, however, interesting developIr? nt* Promising future possibilties which will hear watching. Mr. Hall Turner points' out there have been unusual banking developments in Quebec, where people's banks,- which are tisiially affiliated with .Catholic concerns, have large deposits from French elements. 'These banks also advance small loans which m the total'are large. But these-banks have a charitable' aspect, so that Australia is not specially interested save fro nl a ,sociological point <n view. Mr. Hall Turner visited Washington where he inquired into the Fedl\t lT n*\ bo. aTds work, and investigated the and South CarlohA^ I 1 this organisation, ■which he found dealt, at present, chiefly m long-fame credits, and was only now SvTm t Thf, lnvestlgator, therefore, was unable to obtain any; new information.