Coherent Identifier About this item: 20.500.12592/gfvdsk

Studies in European Co-operation

1925

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Summary

lend money at interest to land-holders on the security of their land ; the money is collected in some degree from the share-holders of the bank but to a larger extent from the general public through -the receipt of deposits or the issue of debenture bonds and the aim of the directors is to return the largest possible dividend to the share-holders which is compatible with the safety and solvency [...] The more highly educated the borrower the better instructed in business methods and the stronger in financial position the less will he be embarrassed by the legal forms and impersonal attitude of a commercial bank the keener his objection to the public exposure of his affairs and the more remote the danger of his losing credit by failure to meet his obligations. [...] The agricultural loans in.which this money was engaged were transferred to the Agricultural Bank the National Bank taking up an equivalent value in shares of the new institution ; the Goveror of the National Bank was to be ex-officio President of the Agricultural Bank and two (now three) of the other five (now seven) directors were to be chosen from among the directors of the National Bank.' [...] Reference was made to the well-known etravagance of the fellah on ceremonial occasions to his litigiousness and to the greed of the usurer and while it was foreseen that the business of the Agripultural Bank with the individual small proprietor would be seriously affected the creation of co-operative societies to be financed by the bank was proposed. [...] The Dane of the early 18th century was a serf on the land ; by an act of benevolent autocracy he was released from this status and small farms were sold to him by instalments out of the great estates ; the bulk of this transformation was completed by the end of the first quarter of the 19th century so far as concerned the existing pesantry but the increase of the rural population led to a fu

Tags

government politics public policy

Pages
277
SARF Document ID
sarf.146769