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Updated: May 9, 2025
The Hansa-Bund, for instance, founded a War Credit Bank for "the Middle Classes" which, with the authorization of the Reichsbank, rediscounts bills of exchange drawn by individuals for whom the Commune vouches. Associations were constituted in the country and in towns, and the nature of their work is evidenced by the 18,000 rural Savings and Credit Banks and 16,000 urban and trade associations.
Besides the regular line of bonds and mortgages growing out of debts due us on our real-estate sales, and against which we had issued the debentures and the guaranteed rediscounts of the Grain Belt Trust Company, the factories, stock yards, terminals, street-car system, and most of our other properties were pretty heavily bonded.
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