Credit Union Times - Centennial Edition - (Page I7) CeLeBrAtiNg 100 YeArS , SPeCiAL CeNteNNiAL editioN Filene Meets With roosevelt After touring Asia WASHINGTON, Jan. 16, 1907 — Edward A. Filene, the Boston department store owner, met with President Theodore Roosevelt. Among the topics of conversation was Filene’s recently completed voyage around the world. Filene, after the meeting, told the press that India had offered him a remarkable education. He said he had never seen such poverty. “The average Hindu can save nothing, and if the harvest fails, famine kills more than a million,” he said. He added that the cause of such mass destitution was the lack of land ownership and access to credit to develop the land. But Filene went on to say that the one hope for the Indian peasant was the agricultural cooperative banks. These associations gathered villagers’ meager savings and lent funds to their members. He said he left India with a new appreciation of what cooperative credit institutions could do for poor people. Filene once again observed mass poverty among the peasants in the Philippines. There, he said, there were no lending institutions to protect the poor from usurious money lenders. After describing his experiences in Asia, Filene recommended to the president that such cooperative lending institutions be introduced in the Philippines. Filene said he would write to the president to offer him more details of the cooperative credit systems and offered to return to Washington to talk again with the president on the matter. drop in ice Crop Causes Price rise NEW YORK, April 3, 1909 — New York City is facing a serious ice shortage, according to a detailed survey of icehouses and ice-making plants. Because of the mild winter, only about two-thirds of the amount of ice that is normally consumed during the summer months will be available. As a result, the retail price of 100 pounds of ice is expected to increase from the current 25 cents to 50 cents or more. Butchers, ice cream dealers and other large ice consumers will likely see an even steeper percentage increase in the cost. The icehouses in northern New York State, where all of the city’s natural ice is harvested, currently hold only half of their full capacity. Because mechanical ice plants in the city do not have the capability to make up for the natural ice shortfall, New York City will have access to slightly more than half of the total amount of ice usually consumed during the summer months. There are similar ice shortages in other parts of the country, and there were reports of some retailers paying ice harvesters as much as $5 per ton, up from the usual price of $3 per ton. www.cutimes.com Credit Union Times, December 2008 7 http://www.alliedsolutions.net http://www.alliedsolutions.net http://www.cutimes.com
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