. Barrio life and barrio education. ^ ^ o ^ g j; fi5 ^ rTv t*< ^ S S <=< ^ O to ^ ^ ^ Fh £ 5^ 2 £ S ^ h^ O (V ^ « ^ ^ !? ^ o CJ <S CO ^ a C8 tl CO ^ §, ^^ .tj CO 5 B » a So g ^ :!« Q CO SAVING AND INVESTING 159. 160 APPENDIX C CENTRAL BANKS There were 410 incorporated Rural Credit Associations inthe Philippines on December 1, 1919, with a total capital ofapproximately ^^600,000, paid in by over 50,000 this is very encouraging and shows remarkable progresssince the first association was organized in October 1916, thefact remains that every association has more applican
. Barrio life and barrio education. ^ ^ o ^ g j; fi5 ^ rTv t*< ^ S S <=< ^ O to ^ ^ ^ Fh £ 5^ 2 £ S ^ h^ O (V ^ « ^ ^ !? ^ o CJ <S CO ^ a C8 tl CO ^ §, ^^ .tj CO 5 B » a So g ^ :!« Q CO SAVING AND INVESTING 159. 160 APPENDIX C CENTRAL BANKS There were 410 incorporated Rural Credit Associations inthe Philippines on December 1, 1919, with a total capital ofapproximately ^^600,000, paid in by over 50,000 this is very encouraging and shows remarkable progresssince the first association was organized in October 1916, thefact remains that every association has more applicants forloans from members than can be met with its present funds. The fact is that nearly all members joined in order toborrow — not to invest capital because every peso they havehas other calls on it than investing in shares, except to helpestabhsh a village bank from which to borrow the smallcapital needed. It is true that in many instances publicspirited men and women have bought some shares simplyto help a good movement to get on its feet. They do notexpect to become borrowers. Really, our very success has become our increase our members, each with a few pesos investedin shares. We morally obli
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