Page:Indian Journal of Economics Volume 2.djvu/497

GO. OPI?RA?I'FE MOF'EME1VT 4?9 mented by Government Loans, was not inadequate to the essential requirements o! their members. But these famines were too limited in area and too mild in their incidence to afford any trustworthy criterion as to the probable effects of a complete and general ?ailure o! the monsoon over a large area. The present writer feels therefore that he is to some extent dark, and has prepared this paper object o! eliciting the criticisms and groping in the more with the suggestions of, the he in a the subject. this Conference for Co-operative Department than be to throw position the guidance of in the hope that any new light on The first and most obvious result of. the paralysis of agriculture, arising from a general famine is that members are unable to repay their loans on the due dates. Money invested in the land fails to fructify. The labor and capital expended on agriculture are lost. Insraiments o! loans granted for the redemption of old debt, domestic non-productive Nine-tenths of objects are the capital expenses or BBn other less technically recoverable. districts o! the will be of agricultural societies are invested in loans to their members, and in fa&ine the whole of. this sum, with the exception small percentage invested immobilised. Extensions season will have to be granted in irrigated crops, till the following ?nd. in most cases the best that can interest. It to the sowkars for their debts to societies in credit o! the movement be hoped would be' ridiculous loans with will be to drive which to order to bolster and to give a the recovery of. members pay off up the speoious appearance of punctual repayments under adverse con- ditions. Central banks will be in a slightly better position, because by spreading their investments over a wider area, they are able to average out their