June 1896.] 



GENERAL AGRICULTURAL NOTES. 



47 



bank must be affiliated. Thanks to the initiative of the " Boer- 

 enbond/' such a central association with limited liability has 

 lately been constituted, under the title of " Societe Centrale de 

 Credit de la Ligae des Paysans." Associates (i.e., the affiliated 

 local banks) must subscribe to at least one share fixed at 100 

 francs (4/.), on which 10 per cent, is paid up at the time of 

 subscription ; each share involving a liability of 40/. The rural 

 banks are also required to pay an entrance fee of 2 francs 

 per share, and a half-yearly contribution of 10 centimes (Id.) 

 for every member on their lists. The central bank only lends, 

 or gives its guarantee, up to the maximum amount for which 

 the local bank has become responsible in case of loss, i.e., ten 

 times the amount of the shares subscribed. 



There are actually 25 Raiffeisen banks in Belgium, the earliest 

 of which, at Rillaer, dates from 1892, and is at the present 

 moment still the most considerable, from every point of view. 

 The number of members in the Rillaer Raiffeisen Association 

 in June last was 87, and the number of loans made since the 

 opening of the bank in September 1892 to June 1895 was 57, 

 amounting in all to 631/., or an average of IK. for each loan. 

 Loans are issued at 4 J per cent, interest, and the rate of interest 

 paid on deposits is 3 per cent. 



The interest on deposits is, in 23 of the banks, 3 per cent. 

 The interest required on loans is 4 or 4J per cent, (except in 

 two instances where it is 3^ per cent.), five only — the five 

 earliest — demanding the higher rate. The limits between which 

 loans are granted vary considerably in different banks ; the 

 lowest maximum is 51., the highest 240/. The minima range 

 from 8 francs (6s. 5d.) to 12/. One bank lends only sums 

 of 8/. 



Taking all the 21 banks actually in operation, the total 

 amount of loans, up to 25th June 1895, was 2,824/., and the 

 deposits amounted to 5,534/. 



The purposes for which loans are required are exhibited in the 

 following table, showing the loans granted by the Rillaer Bank 

 during the period : — 



Object of Loan. 



Number 

 of Loans. 



Total. 



Average. 







£ 



5. 



d. 



£ 



s. 



d. 



Purchase of a cow - 





227 



18 



0 



6 



14 



0 



„ an ox - - 



5 



53 



0 



0 



10 



12 



0 



„ a plot of land 



2 



12 



0 



0 



6 



0 



0 



„ a house - 



2 



35 



0 



0 



17 



10 



0 



Repairs to a house - 



1 . 



10 



0 



0 



10 



0 



0 



Extension of business - 



4 



116 



0 



0 



29 



0 



0 



Payment of an old debt 



5 



60 



0 



0 



12 



0 



0 



Establishing a young couple in life 



? 



106 



0 



0 



35 



7 



0 



Sickness expenses - 





10 



16 



0 



10 



16 



0 



Total - 



57 



630 



14 



0 



11 



1 



6 



