Part III: Credit 



HUNGARY. 



THE PRINCIPAI. RURAL lyAND CREDIT INSTITUTES 

 IN HUNGARY. 



OFFICIAI, SOURCES: 



Rapfort du BusiiAU National de Statistique de Budapest, adresse a I'lnstitut In- 

 ternational d'AgricuHure. (Report forwarded by the Budapest National Statistical Office 

 to the International Institute of Ai^riciilture). 



A Magyar Korona Orszagainak Hitelixtezetei 1894-BEN {Credil Institutes of the Count- 

 ries Subfect to the Hungarian Crown). Budapest, 1897. 



I^ADiK (Dr. Gustave de): Apergu de la legislation concernant I'administration de ragriculture 

 hongroise [Summary of the Hungarian Laws on Agriculture). Published by the Hmiga- 

 rian Department of Agriculture. No. 8. Budapest. Pallas Press. 1910. 



Anxuaire St.\tistioue Hongrois. {Hungarian Statistical Yearbook). Vol. XIX, 191 1. Bu- 

 dapest, Athenaeum Press, 1913. 



OTHER SOURCES: 



SCHULTE (Dr. Fritz): Die Bo ienkreditinstitule des Oesterreichisch-Ungarischeu Monarchie 

 1841 b^s iQlo {Land Credit Institutes of the Attstro-Hun'^arian Monarchy from 1841 to 

 1910). Munich, Dun cker-Hum blot, 1912. 



In a former article (i) vve observed that the Hungarian legislation on 

 land credit attempted, by a system of liberty, to attract capital to invest- 

 ments benefiting landed property and to facilitate the foundation of financial 

 societies to grant loans on mortgage at fair rates, not so much because ob- 

 liged by legislative provisions, but because of the competition being open. 

 The object of the restrictions imposed by the law was to guarantee the proper 

 working of the institutes so that the land bonds issued by them might be 

 well received by capitalists on the market. But this S3'.stem of liberty, 

 if it encouraged the foundation of land credit institutes, did not confer on 

 the farmers all the benefits anticipated. 



Under the circumstances, the legislature judged it expedient to inter- 

 vene in behalf of rural land credit with the law XV of August 8*'\, 191 1, 



(i) Sec Bulletin of Economic and Social Intelll'^encc, No. i. January, 1913 : " Outlines 

 of I^and Credit I^egislation and Organisation in Hungary ", pp. loi-iii. 



