Part III: Credit 



RUMANIA. 



AGRICUIvTURAL CREDIT IN RUMANIA. 



OFPICIAI, SOURCE : 

 Anurul statistic al Romaniei {Statistical Yearbook of Rumania). — Bucharest, i<ji2. 



OTHER SOURCES : 



Serban (Dr. M.): Rumaiiiens Agrarverhaltnisse (Agrarian Relations inRumaniu). — Berlin, 1914. 



Keilh.\uer (A. V.) : Die Entwickelimg der landlichen Kreditinstitutc iii Rumanien (The Deve- 

 lopment of Rural Credit I nsiitutions in Rumania) . — Fribourg, 1912. 



Creanca (Dr. G. D.): Grundbesitzverteiliuig mid Bauenifrage in Rumanien (The Distribution 

 • of Landed Property and Agrarian Questions in Rumania). — l,eipzig, 1907, 1909. 



I<e mouvement 6conomique, 1914, 1915, 1916 (I'he Economic Movement, 1914, 1915, 1916). — 

 Bucharest. 



§ I. Agricultural Credit. 



For an examination of agricultural credit in Rumania some economic 

 data are necessar>- as to the agricultural class ; for in this country more than 

 elsewhere there has been a division of labour among the different institutions 

 giving agricultural credit, and this division is based on the differences between 

 the agricultural classes. 



Until 1862 the feudal system obtained in Rumania. All the land belong- 

 ed to a limited class of feudatories, who were called boyards and numbered 

 bout 5000, and it was cultivated by 470,000 families belonging to the class 

 of land serfs. The class of small proprietors was represented only by the 

 100,000 families of the Mosneni in Vallachia and the Rasesi in Moldavia. 



Side by side with individual feudatories the State and the churches and 

 monasteries held vast territories. 



In 1862 the feudal system was abolished. The law of 15 August 1864 

 ordered that part of the ]jroperty of the feudatories should be distributed 

 among the cultivators. Later in 1866, 1869, 1876, 1881 and 1889 the dis- 

 tribution of the lands belonging to the State and the churches was ordered ; 

 and in 1908 a rural bank was formed with the object of granting credit to 

 the fanners in order that they might buy land 



