An Agricultural Bank (Land Bank) is a credit bank specifically established to assist agricultural development, particularly by granting loans for longer periods than is usual with commercial banks. Research Agricultural Bank
In 1714, during Governor Dudley's rule of Massachusetts, the downfall of credit and general scarcity of circulating medium induced certain merchants to suggest the erection of a Bank of Credit in Boston, founded on land security, and to promote subscription promised 200 pounds annually to Harvard College. Dudley was greatly opposed to this measure and his son wrote an able paper setting forth the objections to such a scheme. To forestall the action of the bank, the province, by law, issued 50,000 pounds to be let out on mortgages of real estate, and these bills were in circulation during thirty years. The Land Bank scheme was thus prevented. Research Land Bank
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Matt and Leela Probert
Abbreviations
Research Agricultural Bank
