The Peasants' Land Bank was a Russian financial institution founded during Tsar Alexander III's reign inRussia, by his Minister of Finance, Nikolai Bunge. He created the Peasants' Land Bank in 1882 to help peasants purchase their own farms. By 1904 it had become so successful that 1/3 of the nobility's land had been bought by peasants. Bunge also abolished the Poll Tax, which was only paid for by peasants, in 1886, which helped to reduce the financial burden the peasants faced.
Banks began operations in April 1883, with nine branches. In 1888 its activity was extended to include the Kingdom of Poland; by 1891 it had thirty-nine branches.
Each bank was managed by a council consisting of a manager, an assistant manager, and three others appointed by the Ministry of Finance and another member representing the Ministry of Agriculture
Famous quotes containing the words peasant, land and/or bank:
“Who keeps the tavern and serves up the drinks? The peasant. Who squanders and drinks up money belonging to the peasant commune, the school, the church? The peasant. Who would steal from his neighbor, commit arson, and falsely denounce another for a bottle of vodka? The peasant.”
—Anton Pavlovich Chekhov (1860–1904)
“Far out of sight forever stands the sea,
Bounding the land with pale tranquillity.”
—Yvor Winters (1900–1968)
“We bank over Boston. I am safe. I put on my hat.
I am almost someone going home. The story has ended.”
—Anne Sexton (1928–1974)