Report On the Agricultural Bank of Egypt to the Secretary of War And to the Phil
Report On the Agricultural Bank of Egypt to the Secretary of War And to the Phil
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In view of the apparently conflicting testimony on this subject from persons in Egypt, thoroughly conversant with the bank's affairs, an outsider would be presumptive to express a very positive opinion. If I venture to make a guess on the subject, however — and it is only a guess — I would say that the fellaheen are probably not getting out of debt by reason of the facilities offered by the Agricultural Bank, that in fact their total indebtedness is probably increasing, and that a large proport...ion of those who do borrow are borrowing from the bank and from other sources practically up to the limit of their credit; that, on the other hand, the bank has to a large extent taken the place of the usurer as a source for borrowing, that the fellah is more independent of the usurer than he formerly was, and that the terms he obtains from him, consider- ing the security offered, are much more favorable than they were a few years ago. It may not, moreover, be an entirely unmixed evil, if the fel- laheen do use the Agricultural Bank as a means of providing permanent working credits for the financing of their farm operations, provided only that the funds borrowed are wisely used.
What to read after Report On the Agricultural Bank of Egypt to the Secretary of War And to the Phil?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Walter Kemmerer to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In view of the apparently conflicting testimony on this subject from persons in Egypt, thoroughly conversant with the bank's affairs, an outsider would be presumptive to express a very positive opinion. If I venture to make a guess on the subject, however — and it is only a guess — I would say that the fellaheen are probably not getting out of debt by reason of the facilities offered by the Agricultural Bank, that in fact their total indebtedness is probably increasing, and that a large proport...ion of those who do borrow are borrowing from the bank and from other sources practically up to the limit of their credit; that, on the other hand, the bank has to a large extent taken the place of the usurer as a source for borrowing, that the fellah is more independent of the usurer than he formerly was, and that the terms he obtains from him, consider- ing the security offered, are much more favorable than they were a few years ago. It may not, moreover, be an entirely unmixed evil, if the fel- laheen do use the Agricultural Bank as a means of providing permanent working credits for the financing of their farm operations, provided only that the funds borrowed are wisely used.
What to read after Report On the Agricultural Bank of Egypt to the Secretary of War And to the Phil?
You can find similar books in the "Read Also" column, or choose other free books by Edwin Walter Kemmerer to read onlineMoreLess
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