8 4 4 



Credit Banks in France. 



[JAN., 



owner. The main object of the proposal is to establish a 

 recognised standard of soundness for breeding purposes. The 

 owner of a mare will know that any registered stallion has 

 been examined by a competent authority and passed sound for 

 service. As regards the suitability of the horse from other 

 points of view he will still have to rely upon his own judg- 

 ment, but in one important respect, at any rate, his choice 

 will be made more easy. 



The responsibility for the administration of the Grant as 

 a whole will rest with the Board, who will have at their 

 disposal the assistance of the proposed Advisory Council 

 representing all branches of the industry. In many important 

 respects the detailed administration of the scheme will be 

 left in the hands of the County Committees, without whose 

 co-operation proposals of this magnitude could not success- 

 fully be undertaken. The Secretary of State for War has 

 stated that the War Office will be prepared to purchase 

 annually a certain number of the remount horses at 3 years 

 off, and he has promised the co-operation and assistance of 

 the Army Council, who will be represented at the meetings 

 of the Advisory Council. If, as it is confidently believed, 

 the willing assistance of all concerned in the industry can be 

 secured for the carrying out of these proposals, there is good 

 hope that the value of the industry can be materially increased 

 and an important benefit to agriculture secured. 



During recent years the French Ministry of Agriculture 

 may be said to have made a determined effort to introduce the 

 system of credit banks into France. 

 Credit Banks Prior to l8 99> though the formation 

 in France. of such banks was recognised and 



regulated by law, the State took no 

 direct steps to provide them with funds.* 



In March, 1899, a law was passed authorising the Govern- 

 ment to apply a certain fund to the purpose of making 

 advances, free of interest, to district or regional banks. This 

 fund was made up of a lump sum of ,£1,600,000 paid in 1897 



* A law of 20 July, 1895, authorised Savings Banks to apply one-fifth of their 

 capital and the whole of the revenue to loans to co-operative credit banks. The 

 capital sum available in this way is about ,£800,000, but owing possibly to the 

 provisions of the law of 1899, the credit banks have not taken advantage of this 

 earlier law. 



