FARMERS’ CO-OPERATIVE ASSOCIATION.
SECOND EDITION
A meeting of farmers and others interested in the above movement, was held last evening at the Schoolhousc, Fairlie Creek, with a view of hearing from Mr Bateman a lecture upon the principles and aims of co-operation. The meeting was fairly attended, and those present were attentive listeners. The chair was taken by Mr Goodwin, who, in introducing the important subject of co-operation, read the report of the sub-committee as well as the prospectus of the proposed association. The chairman stated that those who were present were no doubt fully aware that the movement of co-opera-tion had been started some time ago, and that it was absolutely necessary that a different system of business should be adopted to that which was now in vogue. As business was carried on at present every one seemed to combine together ; while the farmer,in reality, took no active part to look after his interest. The merchants, loan companies, land dealers, and others banded together. If the farmer went to town to sell his grain, he had almost invariably to take whatever price the grain buyer offered him. The fact was, the farmer, as a rule, when in town had barely time to make proper inquiry as to the true state of the markets. The information, too, which he received was from the very men whose interests were antagonistic to that of farmer ■, was and of a one-sided nature ; therefore it was hard indeed to receive justice at the hands of those who were buyers. Then again, it happened that the land dealer sold land to the hardworking farmer and took his money on account of land sold, but as time wore on it was not an unusual thing that the very land sold was subject to a heavy mortgage to some money lender, and that the seller was in a state of utter impecuniosity and could not complete the title for the land he had sold. In case farmers supported the movement of co-operation, many of such difficulties would not only be surmounted, but the farmers would get from the manager of the co-operative association the true state of the markets and other matters, and in fact many of the existing difficulties would be effectually avoided. Facilities would be afforded to the members of the society to realise upon their productions in the various consuming markets in place of being confined as they were now to a section of the community who make large profits out of the producers. He (the chairman) trusted that those in connection with the productive industry would act, as others did, in union ; not only this but that they would protect by fair, open, and legitimate means their own interests. He had the pleasing duty to perform of introducing the lecturer to them, Mr Bateman. They were no doubt fully aware that the services of that gentleman had been secured by the committee for the purpose of more fully explaining the great advantages which were derivable from co-operation. He trusted that those present would give to Mr Bateman’s address due consideration.
The lecture was warmly applauded. At its conclusion Mr Gallinghara asked Mr Bateman how the Society could carry out the inducements held out in the prospectus with such a small capital as £25,00), more particularly with respect to making advances against shipments of produce. Mr Bateman said he would with pleasure answer the question, because it was a very important one, as they all knew that to transact such business a large amount of cash would be necessar3 r . —The, association would do precisely as other large shippers did, who employed other peoples’ money besides their own. To those who were not busi* ness men this was one of many matters which they could not understand. There is a term in business called exchange which means that bankers, traders and others have to make remittances to the United Kingdom, and foreign parts, but instead of sending specie they buy bills of exchange properly secured. The Co-operative Association would sell to such buyers its bills of exchange secured by bills of lading with insurance policies and by this means recoup itself for the temporary advances made while the produce was being shipped, and by this means it could do business ad libitum without permanently locking up its capital. After some discussion the meeting terminated with the customary vote of thanks to the lecturer and the chairman.
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South Canterbury Times, Issue 2370, 21 October 1880, Page 2
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742FARMERS’ CO-OPERATIVE ASSOCIATION. South Canterbury Times, Issue 2370, 21 October 1880, Page 2
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