State Peasant Land Bank

Categories / Economy/Finances and Credit
STATE PEASANT LAND BANK was established in 1882 with the purpose of helping low income peasants to buy their land from landowners. It was located at 14 Admiralteiskaya Embankment. Peasants were issued loans at the rate of 80-90% of the fixed price for the purchased land, for the term from 13 years to 51 years 9 months for 7.5-8.5% per cent interest per annum. The decree of 1895 allowed the bank to buy land at its own expense to sell it afterwards; such practice contributed to fast growth of land price and made it difficult for peasants to purchase the land. The bank was given an important role in the implementation of the agrarian reform started in 1906 by P. A. Stolypin. With this purpose the bank considerably increased its land fund and was allowed to issue credits to prosperous peasants on preferential terms. They became the bank’s clients in 1906-15. The bank was liquidated on 14 December (old style: 27 December), 1917.

References: Корелин А. П. Сельскохозяйственный кредит в России в конце XIX - начале ХХ в. М., 1988. С. 19-33; Дякин В. С. Деньги для сельского хозяйства, 1892-1914 гг.: Аграр. вопрос в экон. политике царизма. СПб., 1997.

V. S. Solomko. Stolypin Peter Arkadievich
Admiralteyskaya Embankment/Saint Petersburg, city, house 14
Дякин В. С. Деньги для сельского хозяйства, 1892-1914 гг.: Аграр. вопрос в экон. политике царизма. СПб., 1997
Корелин А. П. Сельскохозяйственный кредит в России в конце XIX - начале ХХ в. М., 1988