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:
“A peasant becomes fond of his pig and is glad to salt away its pork. What is significant, and is so difficult for the urban stranger to understand, is that the two statements are connected by an and and not by a but.”
—John Berger (b. 1926)
“The land of my fathers. My fathers can have it.”
—Dylan Thomas (1914–1953)
“The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year’s seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.”
—Rose Wilder Lane (1886–1968)