THE ACTIVITY OF INSTITUTIONS OF LAND CREDIT IN igi6 5 1 



had not, in its desire to devote itself preferably to improving rural property, 

 limited its acceptance of applications for loans on urban lands ". 



Contracts for loans definitely concluded in 1916 numbered 93 and were 

 for 7,374,000 liras, while in 1915 they numbered 74 and were for 6,389,500 

 liras. They might have been represented by a far higher figure " if the}' had 

 been concluded proportionately to the remarkable growth in 1916 of the 

 demand for paper as compared with the circulating funds on the market ". 



The amount of the loans concluded had to remain far below that of 

 the resources of which the institute disposed, because the number of appli- 

 cations in the case of which enqiiiries could be prosecuted was limited. The 

 abundance of money, the calls to arms, and the uncertainty involved in 

 undertaking in present circumstances engagements binding in the far future, 

 -were the chief causes of this phenomenon. 



lyoans contracted for, as mentioned, in 1916 are guaranteed by securities 

 of the value of 16,693,492 liras, and are distributed as follows according to 

 the nature of such security. 



The loans are distributed as follows geographically 



North Italy 



Central Italy 



South Italy (including the islands) .... 



Total . . 

 They can be classified as follows in accordance with the sums lent : 



Number Liras 



up to 20,000 liras ...... 28 371,000 



from 20,500 to 50,000 liras 17 571,000 



from 50,500 to 100,000 liras 24 1,885,000 



from 100,000 to 500,000 liras 24 4,547,000 



Total ... 93 7,374,000 



