DENMARK. 



THE SITUATION OF THE DANISH 

 LAND CREDIT ASSOCIATIONS IN 1913 (i) 



In oiir number for April, 191 1, we published a detailed study on the 

 organization of rural land credit in Denmark, and in that for January, 1913, 

 a note on the work done by the Land Credit Associations in 1912. We have 

 now material enabling us to furnish similar statistics for the year 1913. 

 In order to facilitate the study of these, we shall, as before, arrange the data 

 in two tables, the first of which will give all statistical information for the 

 land credit associations only granting loans on first mortgage, while the 

 second will give it for the mortgage associations, founded, on the contrary, for 

 the purpose of granting cheap loans on second mortgage (see the article 

 above referred to, in our number for April, 1911). We shall only here remind 

 our readers that all the associations are founded on the co-operative prin- 

 ciple of mutual solidarity. 



The following table shows that the total amount of the loans granted on 

 first mortgage by these 14 associations amounted at the beginning of 1913 

 to 1.724,000,000 crowns or 226,000,000 crowns more than in 1910. As many 

 of the associations do not distinguish in their reports between urban and 

 rural loans, precise information cannot be given with regard to the amount 

 of the rural land debt, but it is estimated at half the total debt. We shall 

 have accurate information on this subject when the Statistical Depart- 

 ment has issued the detailed statistics of mortgages it is now preparing. 



The mortgage associations, for their part, are divided into two distinct 

 groups as shown in our second table. 



Finally, as regards the Kingdom of Denmark Mortgage Bank, on August 

 31st., 1912, it contracted a new loan of 15,000,000 francs (10,800,000 crowns), 

 enabling it to purchase from the Treasury bonds for State Loans to 

 Small Farmers (Jordlodder til Landarbejdere). On March 31st., 1913, the 

 Bank possessed bonds of the land credit associations for the amount of 

 33,481,000 crowns and " Jordlodder til Landarbejdere " bonds for that of 

 14,414,000 crowns. 



(i) This article has been sent to us by our Copenhagen correspondent. 



