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(1923) [MARC] Author: Fridtjof Nansen - Tema: Russia
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it stands to reason that the peasant will not
increase his production unless he can sell it
conveniently and profitably.

Having reviewed this psychological aspect of
the problem, let us see what has been and what
ought to be done to solve it.

Recognising the impossibility of Russia’s
economic restoration until the great peasant
population recovers its purchasing power, the Russian
authorities have just appointed a committee, as
M. Kalinin informs me, to furnish the peasants
with credit. It is composed of representatives of
the commissariats of agriculture, finance, industry
and foreign trade, and of the State Bank, the
Central Council of National Economy, the
Co-operative Bank, and the central co-operative
organisations themselves, etc. The chairman is the
representative of the Pan-Russian Central
Executive Committee.

Its object is to create a large number of small
country banks, to which the State Bank and
Commissariat of Agriculture will give a credit of
20 million gold roubles. The Co-operatives’ bank
and the State institutions and private individuals
interested in agriculture will also participate
financially in these banks. The
peasant-co-operatives and peasants who put money into them
will enjoy certain privileges; they will be allowed
to postpone the payment of the tax in kind, and
will receive interest at the rate of 3 per cent.,
calculated in gold value.

The credit given by these banks is limited to

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