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

| property, as well, was relieved OF hall
the tax upon the execution of docu
ments. Landowners cultivating theil
own land were also favored in every
way by the law.
Besides working through existing
| banks the government has created
| several state institutions in various
| parts of the country to mobilize farm
credit. The most important body was
created early in 1920 as section
of land and farming credit in the Ma
uonal Credit Institute for Cooperative
founded In 1913. This section was
given an initial capital Of 5O,OOOOO0
lire and was empowered to loan mon
ey for the development Of large Or
small tracts of land and for raising
agricultural standards in general.
An important sectional consortium
of popular savings banks was soon
after created in the province of Ven
eta, which has proved a great force
in reconstructing the farms injured
by the war.
The state credit institutions have
nav lhCii lCdlCSl SiOWtll III tliC iS-
gions of Naples and in the Marches
Umbria and Liguria. Farm credit OPP
eratfons through the Bank Of Naples,
for instance, increased during the war
years from 1894, 159 to 4S,S0S,S92 lire
and during the same time the Insti-
tute for Rural Credit of Liguria in
creased its direct and indirect deal
ings from the small sum of 1925 to
l,775,395 lire. The operations through
the Bank Of Sicily decreased, however.
Private Credit Example.
A typical example of private credit
institutions which are more important !
than the state ones Is the Italian Fed
Grafton of Rural Savings Banks, which |
represents more than 1000 co-Opera-
tive credit institutions scattered over
Italy and which is following a wide |
for the development of rural
credit. This federation is under the |
control of the Catholic Populist party.
The extent to which this system has
grown is shown by the figures gath
cred from ,121 credit Institutions. In
1918 the deposits amounted to 201,-
1888, 100 lire, representing the savings
Of thousands of families, and 64,519,-
257 lire were issued in loans for agri-
cultural development. In 1921 from
data collected from only 987 institu-
lions deposits were 800, 2S6,999 and
oans 104, 562,417 lire.
These institutions have effected a
revolution in the old system under
which 80 years ago the small private
farmers and land workers were the
After the war the credit institutions
n the North began to change their
character from institutions primarily
# credit to savings institutions. This
vas a critical moment for the rural
redit bodies. When ready money be-
san to flow out Of the land into the
ranks there was a widespread attempt
N the part of private banks to alb :
orb this cash and divert it for indus
rial uses or often for frank specula- '
ion. 1.-THE Federation Of Rural Credit +,
Institutions showed itself a protector
f the interests Of the farmer, con-
ucting a countrywide campaign cul- i
1inating in congress in Rome in
november, 1920, and another at The
iso in April, 1921, which were domi !
ated by the slogan "The fruits of the :
arth must return to the eartn.'
A special commission has been ap-
ointed to study the question of in
reasing rural credits, headed by DR.. L
ate for labor. This commission in t
[ario Gingolani, undersecretary of {
series Of conferences has just for l.
ulated series Of practical propos
5riculture.