ary, 1877, the bank reduced the rate of interest to 6 per cent. It will discount notes for no longer period than 120 days, and issues drafts on Paris at 90 days for 1 per cent.; 60 days for 1 per cent.; 30 days for 2 per cent. Connected with this institution is a pawnshop for jewelry, &c., in which they do quite a business. THE CREDIT FONCIER. This company was organized July, 1863, by a royal decree, with a capital of 12,000,000 francs, which is divided into 24,000 shares of 500 francs each. Its object is to loan money on real estate. Its terms are are as follows: By paying 11 per cent. annually for 17 years on the amount borrowed the debtor gains a clear title to the estate. For any other number of years the interest is in the same proportion. This institution has been, and is, a great benefit to the planters, as by its aid comparatively poor men are enabled to carry on an estate and make themselves independent. CHARLES BARTLETT. Statement showing the commerce of Martinique for the year ending December 31, 1876. |