48 IXFOKMATIOX RELATIXG TO CREDIT 



or fiscal burden will be placed on the operations or the documents involved 

 by this system. Correspondence between those benefiting; by it and the 

 administration will be free of postage. 



Available funds will be paid into a current account which will bear 

 interest to the deposit and loans fund at a rate corresponding to the average 

 annual interest which this fund receive? from the aggregate capital it 

 administers. 



Of annual net profits two tenths will go to the formation of a reserve 

 fund within the fund just mentioned and administered thereby. The re- 

 maining eight tenths will be paid to the Opera nazionale per la protezione 

 e I'assistenza degli invalidi della guerra (National Enterprise for the Pro- 

 tection and Assistance of Invalids of the War). 



* 



2. THK PROVINCIAIr FUXD OF AGRICUI/rrRAI. CREDIT I'OR UASIIvICATA IX 

 i'ii6. Report on the year 1916. Potenza, I'jir- 



Pursuing our examination of the activity in 1916 of the chief institu- 

 tions of agricultural credit in Italy (i), we find some data as to the busi- 

 ness done in that year by the provincial funds of agricultural credit for 

 Basilicata. 



Credit- afforded during the year by means of the Monti Frmnentari, the 

 agricultural junds and the agricultiiral consortia for seeds, manures, ferti- 

 lizers, expenses of .sowing, harvest, cultivation, live and other stock. Total 

 turnover 3,611 bills for 1,297,316 liras (average 359 liras a bill) as against 

 2,755 bills for 1,080,855 liras at the end of 1915. The turnover of the cur- 

 rent accounts was 87,586 liras. The balance in bills on 31 December 1916 

 was 622,102 liras as against 548,382 liras in 1915. 



Direct credit to individuals regulated by the royal decree of 11 October 

 1914, No. 1089 (2). — Total turnover 651 bills for 699,385 liras as against 

 712 bills for 828,140 liras in 1915. The balance in bills on 31 December 

 1916 was 346,568 liras. 



Loans to those who suffered losses by fieldmice, — Requests for seed for 

 23,191 hectares (3) covered 2,499,148 liras, of which 1,763,904 liras were 

 paid on 2,452 bills. 



Credit for acquisition of live stock. — Current accounts relative to this 

 form of credit fell from 23,285 liras at the end of 1915 to 16,919 liras at 

 the end of 1916, and the bills in hand were reduced from 375 for 609,857 

 liras to 326 for 570,147 liras. The diminution of business of this kind is 

 essentially a consequence of the requisition of live stock and of previous 

 bad years. 



Credit for agricidtural improvements. — In this category there were 100 

 loans amounting to 750,932 liras, of which 28,750 liras were for water-con- 



(i) See our issues for August and September 1917. 



(2) See our issue for January kji.s. 



(3) I hectare == 2.47 acres. 



