Rural Credit 291 



Delitzsch banks are founded on the unlimited liability 

 plan, this form being considered safest in sections that are 

 not familiar with cooperative credit. The average share 

 capital per member in 1910 was 360 marks as compared 

 with an average of 19 marks in the Raiffeisen system. 



The Working Capital 



The working capital of the Schulze-Delitzsch banks in 

 1910 in Germany was $346,743,897, 14.8 per cent of which 

 was share capital, 6.5 per cent reserve, and 78.7 per cent 

 capital from outside sources. The proportion of the bank's 

 own funds in 1910 was 2L3 per cent in the Schulze- 

 Delitzsch and 3.8 per cent in the Raiffeisen banks. The 

 principal function of these banks is to furnish short-time 

 credit, 41.5 per cent of the loans being of this nature, 

 while only 10 per cent were on mortgages. The Schulze- 

 Delitzsch banks are federated into thirty-two provincial 

 federations which include also cooperative societies of 

 other kinds. These provincial federations are affiliated 

 with the General Federation of German Cooperative 

 Societies. They have not federated into a central na- 

 tional banking institution as the Raiffeisen banks have, 

 though the movement of these funds and the equalization 

 of their debits and credits are facilitated by the Dresden 

 bank, a private institution. 



THE LANDSCHAFTEN 



The Landschaften are cooperative banking institutions 

 in Germany formed collectively by the proprietors or 

 landlords of a province or other administrative unit to 

 obtain for their members the credit they desire in making 



