52 INFORMATION RELATING TO CREDIT 



The operations with agriculturists directly amounted to 954,435.50 

 liras, distributed according to their nature as follows : simple, direct discount 

 356,224 liras ; rediscount of bills 180,461.50 liras ; advances on pledged 

 agricultural products 135,500 liras ; advances on a privilege over seeds 

 282,250 liras. The destination of these loans was as follows : 



Growing vines 141,634.45 liras 



" cereals 550,647.14 



" olives 48,527.07 



Various crops 93,628.40 



Sulphate of copper, sulphur, various fertilizers . . 20,154.90 



Stock farming 9,843.54 



954.435-50 liras 



On the operations with interme'diary institutions the rate of interest 

 oscillated from 5 ^ to 6 14 P^^ cent., on those with agriculturists directly 

 from 6 Vo to 7 ^ per cent. 



2. 1,0 ANS TO AGRICUIyTURISTS FOR GROWING CORN AND OTHER CERKAIyS. 



— Gazzctla Ufficialc del Regno d'ltalia, No. 154, Rome, 30 Jimc 1917. 



A decree of the lyieutenant General of the Kingdom, dated 28 June 1917, 

 No. 1035, contained the following provisions : 



In order to facilitate loans intended to encourage the growing of com, 

 other cereals and edible tubercles, institutions of agricultural credit, autho- 

 rized by special laws, may receive advances up to 20,000,000 liras, at 

 3 per cent. 



They will give the sums received as advances to agriculturists directly 

 whenever, for one reason or another, recourse to an intermediary establish- 

 ment is impossible. 



When the sums to be granted are asked for in order to provide seeds the 

 institution of agricultural credit will give the landowner, in exchange for 

 a bill signed by him, a bond authorizing him to withdraw merchandize in 

 the quantity desired, at the cost price of the provincial consortium's 

 granary. 



The State will supply seeds for distribution to the granaries of the 

 provincial consortia. 



The rate of interest on the loans to be made with the sums received as 

 advances must be so determined that it does not surpass 4 per cent, if loans 

 are made to agriculturists directly by the institutions of agricultural credit, 

 or 5 per cent, if they are made by means of intermediary institutions. 



