JAPAN. 



INTERIOR COLONIZATION 

 AND THE PROGRESS OF AGRICULTURE IN KOREA. 



OFFICIAIv SOURCE : 



Annual report on reforms and Progress in Chosen (Korea) 1914-1915, compiled by the 

 Goveniment-General of Chosen, Keijo (Seoul), July igi6. 



The question of interior colonization in Korea has already been studied 

 in this Review (i), and we wiU therefore here merel}^ complete, with the 

 help of the most recent official data, the information already given. 



§ I. Agricultural Credit, 



Agriculture is the principal occupation of Korea and employs 80 per 

 cent, of the population. Agricultural products have a total value of nearly 

 300,000,000 yen (2) and account for more than 80 per cent, of the total 

 export, trade. 



The problem of agricultural credit is therefore urgent. Such credit is 

 afforded a) by the Agricultural and Industrial Banks, b) by the People's 

 Bank Associations, and c) by the Oriental Development Company. 



The two former are organized under regulations dating, respectively, 

 from 1906 and 1907. Owing to changes in the general position these regu- 

 lations were modified in 1914. 



a) AgricuUural and Industrial Banks. — The new regulations recognize 

 that the'^" banks can discharge, as previously, the functions of ordinary 

 banks, in addition to their main functions ; but require them gradually to 

 confine their activity to the latter, by extending banking facilities more and 

 more to agricultural and industrial enterprises in that they furnish funds to 

 these on easier terms. The banks are especially authorized to deal with tem- 

 porary loans, exchange bills, documentary bills and warrants for products 

 obtained in the peninsida. In order to acquire funds for these operations 

 the banks are however authorized to make temporary loans and receive ordin- 

 ary deposits, apart from the funds provided for long-term loans for agricul- 

 tural and industrial undertakings. They are also authorized to enter into 

 close connection with the banking department of the Oriental Development 

 Company, so that the latter may furnish larger working funds to them. To 

 a certain extent they can act as the company's agents, much as People's 

 Bank Associations act as agents to themselves. The Agricultural and 



(i) See Nos. 7,8 and y, year 1914, Interior Colonization in Japan. 

 (2) I yen = 2. 0664 .s at par. 



