Tsentral-Bank tsu Untershtistsn di Idishe Kooperatsie in Lite

TAKONES [TAKONOT] צענטראל-באנק צו אונטערשטיצן די אידישע קאאפעראציע אין ליטע. תקנות

Kovne [Kovno]: Druk fun Brider Horvitsh, 1920. Item #42186

1st edition. Original Green Printed Paper Wrappers, 16mo (small), 18 pages; 16 cm. In Yiddish. Regulations booklet for Central Bank to Support Jewish cooperation in Lithuania. “Prior to the [First World] war, there were many Jewish credit co-operatives and loan and savings societies in Lithuania. After the war, the Jews did not initially deem it advisable to re-establish these societies because of the new currency and the difficulties involved in repaying old debts and collecting loans. But at the beginning of 1920, some banks were reorganized. The Kovno Folksbank started functioning in two rooms secured from the Jewish community on January 25, 1920, with a capital of 52,500 marks. Paid workers were not employed during the initial develop- ment of the institution which was open two evenings a week. By the end of 1921, the bank had 2,376 accounts. That year it had granted 2,657 loans totaling 10,235,824 marks. The Jewish credit co-operatives of Lithuania, known as People's Banks (Folksbenk), belonged to a Union (Farband fun di Yidishe Folksbenk). During the period of national Jewish autonomy in Lithuania, the credit co-operatives and the Central Bank flourished. In 1923, Joseph Marcus, representative of the JDC, obtained $50,000 for the People's Bank from the Lithuanian government, a sum equal to the JDC contribution. In Lithuania the Jewish banks, besides granting loans, also assisted producers' and consumers' co-operatives, and cultural and other activities. There was no lack of conflicts however. The local People's Bank of Schaulen complained that the Central Bank charged unbelievable interest for dead capitals.’ The People's Bank of Kovno, which had 4,500 clients, complained that the Central Bank had become a political weapon and did not take the needs of the people into consideration” [Szajkowski, "Reconstruction" vs. "Palliative Relief" In American Jewish Overseas Work (1919-1939) (Part II) Jewish Social Studies, Vol. 32, No. 2 (Apr., 1970), p. 114] SUBJECT(S): Banks and banking -- Lithuania. Jews Cooperative societies. -- Economic conditions. OCLC: 926202057 (Also issued in German as OCLC: 235472553). OCLC lists only 1 copy worldwide (UCL). Two holes punched through top margin, no text affected. Notes penned on front cover, small closed tear to rear cover. Internally extremely clean. Very Good Condition Thus. Very Rare and historically important. (YID-43-22A-+).

Price: $275.00