INFORMATION RELATING TO CREDIT 53 



3. THE "FEDKRAZIONK PER IIv CREDITO AGRARIO NEI,1,'UMBRIA " IN i'ji5. 

 Report of the federal council for 191 5. Perugia, 191 6. 



The law of 2 January 1910, No. 7, on agricultural credit in Marche and 

 Umbria (i) instituted in each of these districts a federation of those of their 

 agricultural funds, rediscounting institutions, savings banks and co-opera- 

 tive banks which had associated themselves spontaneously. This federation 

 has to administer the fund destined by this law to afford agricultural credit, 

 namely 700,000 liras in Marche and 400,000 liras in Umbria. It has in 

 particular the duty of endowing agricultural funds and employing tempora- 

 ril3' capital of which the destination has not yet been fixed. The report 

 of the council of the federation shows that on 31 December 1915 thirteen 

 agricultural funds were active in Umbria. They had in that year effected 

 loan and discount operations for a sum of 403,602.75 liras and their ba- 

 lance on 31 December was 169,745.98 liras ; namely 303,225.40 liras for the 

 purchase of fertilizers; 72,324.70 for stock, implements and machinery; 

 11,050 liras for cultivation ; 7,162.15 liras for anti-cryptogamous substances ; 

 6,505.50 liras for seeds ; and 3,335 liras for the harvest. 



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4. THE DEVEIvOPinCNT OF THE " BANCA DEI,Iy' ASSOCIAZIONE AGRARIA PAR- 

 >IENSE". Bollcttino dclV Associazione Agra,ia Parmcnse, No. 14, Parma, 7 apiil 1917. 



^Some employers' agricultural associations in Italy have constituted agri- 

 cultural banks. One of the most important of these is named in our title, 

 the Bank of the Agrarian Association of Parma. It grants loans in the form 

 of bills to its members and receives savings deposits even from outsiders. 

 This bank limits its business to agricultural credit, thus encouraging the 

 return tf) the soil of a large part of savings. It was legally constituted on 

 7 November 1908 in the form of a limited liability co-operative society 

 having an unlimited capital in shares of the nominal value of 50 liras each. 

 Its development appears from the following figures which refer to liras : 



(i) For the organization of agriculture in Marche and Umbria see our issue for June 1915, 

 pp. 61 et seq. 



