NATIVE THRIFT SOCIETIES 29 



§ 3. General observations on the work of the societies in 1915. 



i) Receipts. — The results obtained by the native thrift societies in the 

 matter of receipts during 1915 may be considered satisfactory, for it should 

 be remembered that the harv^est in certain districts left much to be desired 

 owing to drought and hail, and that the state of war has caused special con- 

 ditions. The net amount of the credit of the societies. was 4,951,915.43 

 francs on 31 December 1915, and this sum has since been surpassed. 



This capital surpasses that anticipated at the foundation of the so- 

 cieties, namely four million francs ; but it was nevertheless inadequate to 

 the needs of the season 1914-1915, during which the societies were obliged to 

 accept State aid in order to ensure the loans of seeds and maintenance to 

 the natives, which loans constitute their first and their chief object. 



It must however be anticipated that the societies will soon, in addi- 

 tion to their present provision of necessary credit to various enterprises 

 of mutual aid, be called upon to help other organizations ; which will doubt- 

 less arise from a need for economic expansion subsequent to the war. 



The societies should therefore continue to observe the principles of 

 economy and prudence which they have followed liitherto. In consti- 

 tuting reserve funds for future needs the}^ give a salutar^^ example in thrift 

 to their members. In order not to compromise the success of their enter- 

 prise they are careful always to be sure that their advances will be repaid. 



2) Loans of Seeds and of Maintenance. — In the farming year 1914-1915 

 the loans of seeds represented the sum of 6,511,125.79 francs, those of main- 

 tenance 4,217,470.79 francs. The prices were by quintal (i) 34.50 francs 

 for wheat, 24.40 francs for barley, 34 francs for beans and 23.91 francs for 

 maize. These prices should be considered satisfactory for they include the 

 price of sacks and all costs of management, transport, storage, guarding etc. 



The loans of seeds were represented in early years by the following 

 sums : 



Season 1907-08 25,628.70 



- 1908-09 1 .750,360.39 



1909-10 670,563.42 



- 1910-11 1,737,52349 



- 1911-12 • 55,620.80 



- 19^2-13 1,786,550-37 



- 1913-14 451-17582 



The loans of maintenance amounted to : 



in 1908-09 381,960.81 



in 1910-11 118,465.72 



in 1912-T3 5S>435-48 



and in 1913-14 83,459.75 



(i) I quintal =: 220 lbs 



