Now the necessity of the emancipation of agricultural labour and the necessity of credit for the consolidation of the well-being of our peasant, t. e. His gradual transformation from a servant of the earth into a master of the earth is obvious to every thinking man. The organization of land credit, in one form or another, has been given one of the most urgent public needs. Without any doubt, this organization must be conditioned by the local needs and character of our state and social relations, but it must be based on the same comprehensive conditions of credit that have appeared in similar institutions of other states. Therefore, it seems to us useful to get acquainted with these institutions and in their advantages and disadvantages they will receive instructions for our own undertakings .. We have prepared an outline of the most important systems and institutions of land credit in Europe, primarily paying attention to the statement of facts, and not to a theory that will be self-evident from the results of the activities and organization of these institutions.