Rural Financial Distress and Involvement of Private Banks in Jiangsu in 1930s
In the 1930s,rural Jiangsu was faced with financial exhaustion,which was manifested in the outflow of capital,widespread indebtedness and the prevalence of usury.Financial relief became a priority,and some private commercial banks were also involved in the financial relief of rural Jiangsu,among which the Shanghai Commercial and Savings Bank was the very representative.The bank not only set up an agricultural loan department,but also cooperated with the local government in Jiang-su to establish a farmers'mortgage lending office.It issued agricultural loans through credit cooperatives,farm warehouses,and production and marketing cooperatives,offering relatively lower interest rates,which was positive in easing the pressure on rural capital.However,the nature of agricultural lending by private banks was actually to seek outlets for surplus funds,thus leaving obvious limitations for them to mediate financial flows.
rural areas in Jiangsurural financeShanghai Commercial and Savings Bankfinancial participation
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维普
