"It is quite remarkable," said Mr. Anderson, "that none of these societies has ever lost a penny. They are managed by committees appointed by the members, who borrow their capital from joint stock banks upon the individual and joint indorsement of the board--each individual being responsible. They get the money for four per cent and loan it for five or six per cent, thus leaving a margin which pays the expenses and leaves a surplus which is carried to a reserve that may also be lent out. These societies also receive deposits from their members and other people in the district and pay three per cent interest, the same as the savings banks. They sometimes obtain loans of £50 to £100 from the Department of Agriculture or the Congested Districts Board at three per cent, which they loan to their members in small amounts at from five to six per cent interest. Last year they got about $60,000 from those two sources. "The great advantage of these credit societies, in addition to keeping their members out of the clutches of the gombeen men, is to teach them the proper use of credit, the difference between borrowing to make and borrowing to spend, to promote thrift by giving a fair interest upon deposits, to encourage sobriety and industry and to teach a sense of responsibility and the value of reputation, because a man's character is the sole qualification to membership, and everybody wants to get in. To be admitted to membership is an indorsement that is very highly regarded, and when a man is in his neighbors look after him. "There are various other co-operative societies," continued Mr. Anderson. "Last year we organized thirty-two new co-operative credit societies, twenty-two co-operative purchasing societies, twelve co-operative creameries, five flax societies to encourage the cultivation and handling of flax, and six co-operative bacon-curing factories, where farmers can send their hogs to be slaughtered and cured in a proper manner, which enables them to get a quick sale and a higher price for their pork. We also organized a large number of co-operative poultry societies to promote the raising of hens and chickens, the shipment and sale of eggs and poultry, so that the farmers can get better prices, have reliable selling agencies, lower freight rates, and sure collections. Eggs are sold here by weight instead of by the dozen, so that people who raise large eggs have the advantage. The eggs are all tested, graded, and packed according to the continental system, which we prefer to the cardboard arrangements which you use in the United States. These co-operative poultry societies are improving the breeds of hens, are teaching the members how to raise poultry, protect it from diseases, and make the best use of the feed. This is a very important industry, and we have brought it up so that now the average revenue from twenty hens is equal to that from one cow.