RUSSIA. 



POPUIvAR CO-OPERATIVE CREDIT FROM 1914 TO 1916. 



B'fecTHHK'fc (I>HHaHCOBTj ripoMbimJieHHOCTH H ToproBJiii {Messeni^er of Finances, In- 

 dustry and Commerce) No. 44, 30 October/12 November 1916. Petrograd. 



IIpaBiiTeJibCTBeHHHri: BtCTHiiKt {Government Messenger) No. 273, 21 December 1916- 

 3 January 1917. Petrograd. 



§ I. Institutions of popular credit in general. 



Present circumstances have not stopped the development of small 

 credit in Russia but have merely made it slower. This circumstance may 

 be said to have favoured establishments of which the previous growth had 

 been very rapid. Their comparative numerical decrease has been count- 

 erbalanced b}' a firmer economic position and a more extensive social 

 influence. 



According to the Messenger of Small Credit the.foUowing new establish- 

 ments were founded between 1914 and 1916 : 



Number of 

 Year Foundations 



I914 1,606 



1915 956 



1916 (i July). 406 



The pre\dous average was 2;000. The new foundations were distrib- 

 uted as follows among the different types of institutions on i January 

 and I July in each year : 



1914 rgij 1916 



I II I I.I 



January July January July January July 



Co-operative credit so- 

 cieties 9.536 10,401 10,687 11,176 11,412 11,649 



Deposit and loan funds 3,479 3,728 3,815 3,983 4,042 4,195 



Funds of Zemstvos , 203 215 232 239 248 266 



Federations of co-op- 

 erative credit societies II II II 28 62 84 



Total 13,029 14,355 14-745 15426 15,764 16,194 



