44 



ARGENTINA - CREDIT 



As we see, the urban loans, especially those made in the capital, come 

 first in number and value. The greater number of rural loans (46,000,000) 

 were granted in the provinces, a very few in the National Territories ; 

 the largest number of applications made to the Bank for rural credit 

 came from Hvestock improvers, cultivators of lucerne and exploiters of 

 forests. 



The loans are divided as follows, according to their value : 



Here the small loans of between 1,000 and 50,000 pesos are most 

 numerous, while the loans of medium amount, between 30,000 and 250,000 

 pesos, were the most important as regards the quantity of money lent. 

 In any case, there is to be observed a considerable increase of small and med- 

 ium loans, as well as of loans on mortgage in the National Territories, an 

 indication of the progressive extension of the action of the Bank in behalf 

 of small farms and of the colonisation of the more distant regions. 



Profits and Losses. — The principal source from whence the Bank de- 

 rives its profits is the commission it charges on loans, in accordance with the 

 organic law : this commission is i %, |4 % ^^^ 34 % respectively in 

 the three periods of 11 3^ears into which the term allowed for repayment is 

 divided. 



In 1912, the Bank made profits to the amount of 4,293,709 pesos, 

 which were placed half to the reserve fund and half to the special fund for 

 loans in cash. 



Reserve Fund. — On December 31st., 1912, the reserve fund amounted 

 to 28,612,730 pesos (31,465,876 pesos on December 31st., 1911). 



