690 Agricultural Credit Banks in Colonies, [feb., 



and a sum not exceeding £1,000,000 sterling may be advanced 

 to them from funds of the Post Office Savings Banks at not 

 more than 4 per cent, interest. 



Advances may be made by the board to farmers for the 

 following purposes : — (a) To pay off existing liabilities in cases 

 in which the board approves of an advance for improvements ; 



(b) to effect improvements, including (1) water storing and 

 irrigation, (2) fencing, (3) clearing land for cultivation, (4) plant- 

 ing orchards and vineyards, and (5) farm buildings ; and 



(c) for purchase of stock and plant. No advances are to be 

 made except on the security of a first mortgage on land and the 

 amount is not to exceed two-thirds of the value of the property. 

 No loan will be less than £50 nor more than £3,000. The 

 rate of interest is not to exceed 5 per cent., and repayments 

 are to be made half-yearly as may be agreed. 



The Natal Government Gazette of 22nd October contains a 

 copy of an Act (No. 27 of 1907) authorising the Govern- 

 ment to assist persons engaged in agricultural and pastoral 

 pursuits by loans, and to appoint a Board of Commissioners 

 for the management and administration of a fund created for 

 that purpose. Advances may be made to farmers and land- 

 owners (a) to pay off existing liabilities ; (b) to effect improve- 

 ments, including water pumping, storing, irrigation, fencing, 

 clearing land for cultivation, planting of orchards, &c, and 

 farm buildings ; (c) for purchase of live stock and plant — on 

 security of freehold or quit-rent land, land held from the Crown 

 or land held under private lease if the landlord becomes a 

 joint mortgagor. Loans are not to be granted for less than 

 £50 or more than £1,500. Applications for advances of £500 

 or under are to have precedence over those for a larger amount. 



The Transvaal Government have also passed an Act (No. 26 

 of 1907) on very similar lines. The funds of the bank to the 

 amount of £2,500,000 sterling are to be advanced from the 

 Transvaal Guaranteed Loan, and a loan to any one person 

 is not to be less than £50 nor more than £2,500, except for 

 large agricultural or irrigation works which may be specially 



Agricultural Credit in Hungary, July, 1905, p. 210 ; Agricultural Credit in Belgium, 

 August, 1905, p. 279 ; Agricultural Loans in Queensland, September, 1905, p. 375 ; 

 Agricultural Credit in Germany, March, 1906, p. 725 ; and Agricultural Credit in 

 Denmark, May, 1906, p. 118. 



