The daily star-mirror. (Moscow, Idaho) 1911-1939, 1922-10-19

o Until Harvest-Farmer Bears Nue.
/, Lighter Imposts Than General Trad
or Industry.
Money may be next to impossible u
get at present for the Italian manu-
, facturer or business man, but for tht
! farmer who wants to buy a new fielt
or get the latest machinery or tide
himself over until harvest time money
Is to be had at the bank nearest hin
without elaborate ceremonies an6
with liberal terms Of payment.
:; Italy recognizes that she is an agri
cultural country, and her rural credit
system Is shining proof Of the gov
ernments interest In stimulating the
farmer to modern and efficient means
Of production. Much of the elaborate
network of farm credit institutions
was set up rapidly during the war,
but unlike the hasty distension OF in
dustry, which was followed by an
equally hasty collapse. this system is
thriving and the fundamental princi-
pies laid down during the war hold
good and are being extended.
| Rural credit In Italy Is a matter OF
| geography like many other important
aspects Of the country's life. In the
excellently developed farm regions or
the North, including Emilia, Liguria,
Piedmont, Tuscany and L0mbardy,
credit institutions have grown up along
side Of the co-operatives and other
farm-workers' organizations and are
dominated like them by the Catholic,
Socialist or Fascist parties, as the
case may be. In the less advanced
southern part of Italy, Sicily and Sar-
DINA the state has had to take the
initiative in making capital accessible
to the farmer.
Farm Credits War Problem.
The question OF farm credits was
one Of the chief ones before the legfs-
lature during the war. Money was
short, and at the same time farm
production had to be increased There
fore, from 1914 TO 1921, 38 different
laws were passed extending and mod
flying credit institutions, putting state
capital at the disposal of rural banks
and greatly increasing the mobility
of money for farm improvements and
increased cultivation.
Before the war rural credit was ex
tended by the state only for special
lied purposes and IN definite regions.
The necessity for increased produc-
ton during the war caused the pas
coz Of low t1o ~fxri1 n
farm loans to ordinary savings banks
and to cooperative credit societies
with a capital Of 100000 lire or
more. These were allowed to engage
In specified farm credit operations to-
falling a fourth of their capital. Sew
eral laws were passed regulating these
loans with a view to making them ac-
ceSsibe to the farmer.
A series Of laws was passed in ia |
vor Of the southern farmer, tradition
ally poor and In need OF stimulation |
This legislation, in fact, had begun in |
1901 when measures authorizing the
savings department of the Bank Of
Naples and the Bank Of Sicily Estate
authorized to issue cur
rency) to take charge Of farm credits
'or the province of MezzogiOrnO and
'or Sicily, Sardinia, Calabria and the
1eighboring provinces.
These two banks, which are adj
7anced capital by the state as needed,
let through a network Of cO-opera-
ives, rural banks, cOnsortiums and 9TH
r organizations close to the farmer.
Fhe smaller institutions clear through |
hese banks forwarding the farmers
awnings and discOunting their notes
loans are made for the purpose Of
purchasing farm machinery. farm an
mails, land and for all sorts OF i'm
and are secured by the
rops of the coming harvest Loans
or Improvements are limited to 5000
re, running for year, and for the
Ilrchase of farm machinery or ami
lals to 1000 and 5000 lire respective
Y, running for three years. Loans
lade on harvested crops can be made ,
My up to three-ffths Of their value
nd run for six months with the priv
eye Of renewal if part payment is +,
ade.
Many Restrictions Removed.
During the war series Of acts was ;
assed greatly simplifying the making o
! farm loans and removing many pre- =
Gus restrictions. One Of the most
ideal was that Of May, 1917, which :
d away with the necessity Of il writ !
n agreement as the basis of loan,
I'd made it possible to obtain loan,
It on the basis of single product
before, but on the whole estimated
oduct Of the farm This law was S
ssed especially to encourage grain
owing.
Severe penalties were provided for tt
rmers guilty of bad faith. Stealing p
injuring farm implements or use Of
g loan for other purposes is now III
nished under the criminal instead e,
the civil code, which has brought
out great improvement. In
Agriculture has been greatly ia hs
red by the government in the mat at
Of taxation which weighs heavily
on industry and trade. At the be- a
ming of the war farm credit. oper- Isl
A~~z