THK TECHNICAL RK-KDUCATION OF MEX MUTILATED IN THE WAR 59 



The service of agricultural credit which depends on the Ministiy of Agri- 

 culture is active to-day in all the departments of France and renders va- 

 luable support to young agriculturists to whom it offers credit of two sorts 

 — long and short or medium-term credit. 



We should recall that the individual long-term credit, instituted by 

 the law of 19 March 1910 (i), inckidcs long-term loans afforded by the dis- 

 trict funds for agricultural credit and intended to facilitate the acquisi- 

 tion, fhsposition, conversion and reconstitution of small farms. These 

 loans may be of as much as 8,000 francs and are repayable within a maxi- 

 mum period of fifteen years by annual instalment computed at the average 

 rate of interest at 2 per cent. They should be secured by a mortgage or 

 a life insurance contract. - 



The short-term credit regulated by the law of 31 March 1899 includes 

 advances on harvests and loans to agriculturists, at very ptofitable rates, 

 of the funds they need to buy manures, seeds, ploughs and animals and pay 

 the wages of agricultural labourers and rent. 



These loans are granted in return for the deposit of negotiable bills, 

 generally guaranteed by a deposit or a warrant. Their term varies, ac- 

 cording to the transaction which they enable, from 3 months to a year. 

 Thanks to the mutual funds of agricultural credit, small agriculturists 

 can therefore obtain the money they need on terms equivalent to those 

 which large proprietors enjoy. 



Moreov-er the district funds of mutual agricultural credit have lately 

 been authorized to afford a new form of credit, called medium-term credit. 

 This to say that, to enable the acquisition of live stock or agricultural material, 

 they may grant loans for a maximum term of five yeais and of a maximum 

 amount of 5,000 francs vmder certain special guarantees. These loans 

 are granted at the same rates as short term loans. 



In order to benefit b}'' any one of these forms of credit an agrictdtu- 

 rist must be a member of : 



(i) an agricultural syndicate or an agricultural mutual insurance so- 

 ciety of the district ; 



(2) a local fund of mutual agricultural credit. One of these societies 

 may be joined when application is made for the loan, a member's share be- 

 ing in such case deducted from the sum lent. 



The road thus opened up to discharged agriculturists is plain. WTien 

 they have passed through a centre of agricultural re-education they will 

 have serious guarantees of their technical ability which will render much 

 easier to them the access to funds of agricultural credit, the more so because 

 government is now considering how discharged men wishing to devote them- 

 selves to agriculture may benefit by special conditions which will yet fur- 

 ther facilitate their acquisition of small rural holdings. 



(i) See our issues for December 1910 and April 1911, Bulletin Mensuel des Institutions 

 ic(ynomiqucs et Sociales, ist year, No. 3, December 1910, p. 276 and 2nd year, No. 4, p. 197. 



