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Marseilles. These two were afterwards amalgamated with the first under the title of Credit Foncier de France. The capital was increased to 6o,000,000 francs, the See also:

government giving a subvention of ro,000,000 francs, and exercising See also:

CONTROL (Fr. contrdle, older form contre rolle, from Med. Lat. contra-rotulus, a counter roll or copy of a document used to check the original; there is no instance in English of the use of " control " in this, its literal, meaning)

control over the See also:

BANK

bank by directly appointing the See also:

GOVERNOR (from the Fr. gouverneur, from gouverner, O. Fr. governer, Lat. gubernare, to steer a ship, to direct, guide)

governor and two See also:

DEPUTY (through the Fr. from a Late Lat. use of deputare, to cut off, allot; putare having the original sense of to trim, prune)

deputy-See also:

GOVERNORS

governors. The See also:

ADMINISTRATION (Lat. administrare, to serve)

administration was vested in a See also:

COUNCIL (Lat. concilium, from cum, together, and the root cal, to call)

council chosen by the shareholders, but its decisions have no validity without the approval of the governor. The Credit Foncier has the right to issue bonds, repayable in fifty or sixty years, and bearing a fixed rate of interest. A certain number of the bonds carry prizes. The loans must not exceed See also:

HALF

half the estimated value of the See also:

PROPERTY

property mortgaged, upon which the bank has the first mortgage.

The bank also makes advances to See also:

LOCAL

local bodies, departmental and communal, for See also:

SHORT, FRANCIS JOB (1857– )

short or long periods, and with or without mortgage. Its capital amounts to £13,500,000. Its See also:

CHARTER (Lat. charta, carta, from Gr. Xap-rns, originally for papyrus, material for writing, thence transferred to paper and from this material to the document, in O. Eng. boc, book)

charter was renewed in 1881 for a period of ninety-nine years. In 186o the Credit Foncier See also:

LENT (0. Eng. lenclen, " spring," M. Eng. lenten, lente, lent; cf. Dut. lente, Ger. Lenz, " spring," 0. H. Ger. lenzin, lengizin, lenzo, probably from the same root as " long " and referring to " the lengthening days ")

lent its support to the See also:

FOUNDATION (Lat. fundatio, from fundare, to found)

foundation of an organization for supplying capital and credit for agricultural and allied See also:

INDUSTRIES

industries. This Credit Agricole rendered but trifling services to See also:

agriculture, however, and soon threw itself into See also:

SPECULATION

speculation. Between 1873 and 1876 it lent enormous sums to the See also:

EGYPTIAN

Egyptian government, obtaining the money by opening credit with the Credit Foncier and depositing with it the securities of the Egyptian government. On the failure of the Egyptian government to meet its payments the Credit Agricole went into See also:

LIQUIDATION (i.e. making " liquid " or clear)

liquidation, and the Credit Foncier suffered severely in consequence. The impracticability of the credit See also:

SYSTEM

system to aid agriculture as worked by the Credit Agricole was very marked, and, as a consequence, the financing of agricultural associations is now entirely in the hands of the Banque de France. The Credit Mobilier is an institution for advancing loans on See also:

PERSONAL

personal or movable See also:

ESTATE (through O. Fr. estat, mod. flat, from Lat. status, state, condition, position, stare, to stand)

estate. It was constituted in 1871, on the liquidation of the Societe Generale de Credit Mobilier, founded in 1852, which it absorbed.

End of Article: CREDIT FONCIER

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