culture, i.e. state-owned agricultural enterprises, farms operated by universities, farms operated by local governments and industrial plants, private seed producers, farms of social, charitable, political and other institutions. The consequences of depriving PBR of the possibility to decide about its own credit policy were visible especially with regard to the big agriculture. Poor organization and poor management in the agricultural enter- prises reporting to the state soon brought them to the brink of bankruptcy. The loan tranches imposed by the authorities were of not much help. Only conversion of the loans and reform of their finances carried out by PBR improved the economic situation. As far as individual farmers are concerned, PBR showed special care for the residents of the Recovered Territories, supported by start-up loans, and for the owners of farms ruined during the war. Apart from settlement loans and loans for reconstruction of farms and post-parceling development, individual farmers could also take out other loans: seed and fertilizer loans, granted in the spring and autumn, and rural electrification loans. PBR also cared for the owners of plantations, mainly industrial ones. Despite that, the state s credit help for individual farmers through PBR was scarce. In addition, on the order of senior authorities, PBR financed also agricultural industry, forestry and many enterprises and institutions closely associated with agriculture or agricultural industry.

Liquidation of PBR

With time, however, PBR shared the fate of banking enterprises as part of their adapta- tion to the communist economy. Pursuant to Article 28 of the banking reform decree of 25 October 1948, the Minister of Finance issued a regulation of 14 July 1950 putting the bank to liquidation39. In phase one, PBR was liquidated by Bank Rolny and then by Bank Gospodarstwa Rolnego. At the time of liquidation PBR administrated a few tens of thou- sands short-, medium- and long-term loans from the pre-war and war period.

Mirosław Kłusek

39. Journal of Laws of the Republic of Poland of 1948, No. 52, Item 412; Journal of Laws of the Republic of Poland of 1950, No. 29, Item 274.