Peasants' Land Bank

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Nikolai Bunge

(1887), founder of the bank.

The Peasants' Land Bank (

, which was only paid by peasants, in 1886, which helped to reduce the financial burden the peasants faced.

The Bank 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; three others appointed by the Ministry of Finance; and lastly a member representing the Ministry of Agriculture.

Under

the Land Bank was extended to make it easier for the peasants to set up their own farms and by 1907 670.3 million roubles had been repaid out of a total of 2012 million.

References

• Sally Waller, Oxford AQA History, Tsarist and Communist Russia (1855-1964)