INFORMATIOX RELATINX. TO CREDIT 



49 



ducts, 106,060 liras for modern stables. 278,822 for settlers' houses, 337,000 

 liras for settlers' houses and modern stables. Eighty-four loans for 

 621,560 liras are in course of amortization. As regards their term, 

 48,300 liras fall due in from five to fifteen years, 365,150 liras within twenty 

 years, 38,500 liras in from twenty-five to thirty years, 186,884 liras within 

 thirty-five years, and 112,088 liras in from forty to fifty years. The 

 normal term is twenty years, the maximum term thirty-five years. 



Ivoans for plantations and reafforestation amounted to 9,331 liras at 

 the end of 1915 and fell to 9,133 liras at the end of 1916. Loans for ir- 

 rigation amounted to 30,095 liras, and loans for hedges remained at the same 

 level as on 31 December 191 5, namely 1,305 liras. 



The capital of this institution — the true capital and the emergency and 

 reserve funds — reached 1,915,910.66 liras, to which 145,050.31 liras of 

 the net profits of the previous year must be added, making a total of 

 2,060,951.97 liras. 



3. THE ",FiiDEi\ZIONi; PE i I'y CR'^DITO AGRARLO NEI.VUM3RIA ".— Report 

 of federal council for 1016. Perugia, 191 7. 



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

 Umbria (i) institutes in each of these regions a federation formed by the 

 agricultural funds and discounting institutions (savings-banks and cf)- 

 operative banks) which exist there and are spontaneously associated. Such 

 a federation is called upon to administer the fund destined by the same 

 law for the exercise of agricultural credit, a fund which amounts to 700,000 

 liras for Marche and 400,000 liras for Umbria. It behoves this fund in 

 particular to provide for the endowment of agricultural funds and the 

 temporary employment of capital not yet bestowed on such an object- 

 We now learn from the report of the federal council of the Umbrian fede- 

 ration that on 31 December 1916 the agricultural funds active in Umbria 

 numbered thirteen. In that year their discount and loans business covered 

 the stmi of 401,448.03 liras and left them a balance of 169,137.15 liras on 31 

 December. The sum of 290,368.03 liras had gone to provide manures, 83,567 

 liras for stock, implements and machinery, 16,850 liras for fertilizers, 7,795 

 liras for cultivation, 2,250 liras for seeds and 618 liras for the harvest. 



UNITED STATKS. 



I. THE ACTIVITY Ol' THE FEDERAL EAXD BAXK OP ST. EOUIS.— The Country Gcn- 

 tleinan. Vol. I.XXXII, Xo. i6, Phi hide Ipliia. 17 Xovember 1917. 



The Federal Land Bank of St. Louis has the function of providing cre- 

 dit for the farmers of three States — Missouri, Illinois and Arkansas. It 



(i) I'\ir tli; r^^alitiou of agrioultitr il credit in Mircheaud Umbria see the article 

 in our issue for June 1015, page 77. 



