Raiffeisen Banks in Austria. 



373 



of excise of £2 2s. if the weight of the locomotive unladen is 

 between one and two tons, and of £3 3s. if the weight exceeds 

 two tons. The duties are dealt with in the same way as the 

 duties on local taxation licences under the Local Government 

 Act, 1888. 



Raiffeisen Banks in Austria. 



The Imperial Central Statistical Commission ot Austria 

 has recently published detailed statistics concerning the 

 progress of the Raiffeisen banks in that country. It appears 

 that in the majority of the Austrian territories there is a 

 constant, and in some cases rapid, increase in these associa- 

 tions. Their number has increased from two in 1886 to 

 1,018 in 1895. At the end of 1895 the Raiffeisen associa- 

 tions already represented 37-9 per cent, of the whole number 

 of registered loan societies, and in particular provinces they 

 were considerably more than half. The number of members 

 has risen within ten years from 54 to 56, 1 38 ; the loans advanced 

 by the banks attained at the end of 1894 the total of 

 £633,061, while the total capital standing to the credit of 

 the association was £1,131,517. The assets of the P^aiffeisen 

 banks amounted at the same period to £1,148,250 ; the most 

 important item in this sum being always the outstanding 

 loans. 



The loans are generally, in the practice of the Austrian 

 Raiffeisen banks, assured upon personal security, and only 

 rarely upon mortgages. According to the sample regula- 

 tions prepared by the provincial authorities, especially in 

 the Lower Austrian model, such mortgages are, it is true, 

 admitted in principle, but they are rare in practice. Only 

 three societies grant loans on mortgage for long periods. 

 The Lower Austrian Land Committee was from the first 

 opposed to them because the Raiffeisen banks did not dispose 

 either of sufficient means or of an adequate staff to be able 

 to successfully carry on mortgage transactions, which require 

 special knowledge and experience. On the other hand, 

 mortgage loans were for some time not uncommon in the 



