The cooperative buying of farm supplies and machinery, which is now assuming such large proportions, is due not merely to an effort to secure lower prices, but to secure better goods. It is a notorious fact that for many years the farmer has had to buy inferior fertilizers and feeds from local dealers because they were all he could get. Both mixed feeds and fertilizers have been sold under certain brands on much the same principle as patent medicines, until the farmer has organized his own agencies to secure their manufacture in accordance with the best scientific formulas. This has been primarily due to a short-sighted policy on the part of manufacturers, but it has done greater injury to the retailer who, in general, has made little effort to learn the real needs of his trade and supply it with the best goods. The same has been true of seeds and agricultural machinery. As a result of this one of the chief claims of such a cooperative agency as the New York Grange-League-Federation Exchange is that it is able not only to sell at a lower price but to furnish the best quality. The wide-awake country merchant has been keen to appreciate these facts and wherever he has studied his trade and devoted himself to its interests he has built up a successful business. The "Country Gentleman" has done a real service in recently publishing a series of articles by A. B. MacDonald which have described the successes of a few of the outstanding "Big Country Merchants." The "chain store" has not as yet invaded the village, but it is rapidly gaining a foothold in the smaller cities and village merchants may as well prepare for its competition, for there seems no good reason why its greater buying power and superior organization should not enable it to undersell the local merchant if the customer is willing to pay cash. As yet all chain stores are on a cash basis and this would seem to prevent their gaining much of the business of the farmer who has depended on long time credit. But the cooperative stores, which do business only for cash, have solved the credit problem by establishing credit facilities whereby short-time loans may be made and a credit established against which purchases are charged. There is no question that both farmer and merchant would be better off if credit were carried by a financial institution. The farmer is being rapidly educated in business practices, and it will be surprising if some enterprising corporation does not establish a chain of village stores which will do a cash business, but which will arrange for separate credit on a strictly business basis. If one looks at the trend of business in the cities and towns during recent years, he cannot but come to the conviction that either country merchants will have to get together so as to pool their purchasing power and get the advantages of expert assistance in advertising, accounting, store arrangement, and other technical services which the chain store