. A To bring such result about it is that the assistance of Co-
operation has been called in. And only Co-operation is in a position
to accomplish it. Only Co-operation, so I should at the same
time wish to add, can be in a position to produce such enorm-
ous sums in credit as have actually been set in motion.
Taking into account the humble materials out of which they
are created, they altogether dwarf anything that capitalist effort,
however well endowed, has produced anywhere.
But my present point is that only Co-operation can bring
about the desired effect. Other agencies have been tried and
have failed. The cases of the comptoirs agricoles and the
comptoirs d'escompte have already been quoted, also that of the
Credit Agricole; the telling case of Gambetta's Caisse Centrale
might be added, also that of the Legs Rampal and the many
well-intended loan-funds created in Germany by the Emperor
William I, a late Duke of Saxe-Coburg, the Grand Duchess of
Saxe-Weimar and others. All of these have failed in their
object, because the one thing required for success was wanting.
