466 PBOVISION OF BORROWING FACILITIES. 



would be quite possible, were the capital available, to extend very 

 considerably tbe operations of the Bank. But in a matter of this 

 sort it is as well to move slowly, more especially as careful supervision 

 is an essential element to the attainment of the object in view. I think, 

 therefore, that for the time being it is not necessary to arrange for 

 any more extended operations than those which may be covered by 

 the additional E. 250,000 which the Government has advanced to 

 the Bank. 



I have, in previous Reports, mentioned that the real test of 

 success which should eventually be applied to the experiment, which 

 has now been going on for three years, is whether the fellaheen will, 

 or will not, use the advantages offered them to incur fresh debts. It 

 is naturally difficult to obtain precise information on this subject. 

 Moreover, sufficient time has not elapsed to enable the experiment to 

 have a fair trial. So far, however, as I have been able to judge, the 

 alleged irremediable extravagance of the fellaheen has, as I anticipated 

 would be the case, been greatly exaggerated. Up to the present 

 time, the number of those who have used their improved credit in 

 order to incur fresh debt has, to the best of my belief, been veiy 

 small. 





