Article
Article name The Verkhneudinsk Mutual Credit Society: Background and Beginning Stage in Cross-Border Conditions (1911–1913)
Authors Plekhanova A.M. Doctor of History, Associate Professor, plehanova.am@mail.ru
Shirapov A. . Postgraduate student, agmaren@mail.ru
Bibliographic description Plekhanova A. M., Shirapov A. A. The Verkhneudinsk Mutual Credit Society: Background and Beginning Stage in Cross-Border Conditions (1911–1913) // Humanitarian Vector. 2020. Vol. 15, No. 3. PP. 48–56. DOI: 10.21209/1996-7853-2020-15-3-48-56.
Section THE BAIKAL REGION IN THE GEOPOLITICAL AND HUMANITARIAN DIMENSION
UDK 94(571.54)+94(517.3)
DOI 10.21209/1996-7853-2020-15-3-48-56
Article type
Annotation The article focuses on one of the most interesting and under-researched topics in the history of banking in Russia, i. e. history of formation and operation of mutual credit societies. The focus is on identifying the specifics of creation of Verkhneudinsk mutual credit society (1911–1917), the first financial credit institution of its kind across the Western Transbaikalia, which was a strategically important transboundary region of the Russian Empire. Description of the initial phase of its activities, review of relationships with other banking institutions in the region, and the role of the society in the development of industry and trade in the region were determined. The research was based on sources published, i. e. Statutes, reports and balances of the Verkhneudinsk mutual credit society and unpublished materials of the State Archive of the Republic of Buryatia containing information on the activities of the financial institution. The authors’ work is based on the principles of history, science and objectivity, a comparative historical method, and a regional-oriented approach (taking into account the cross-border location of the object of research), which made it possible to analyze more fully the history of the Verkhneudinsk mutual credit society, created on July 1, 1911 and managed in a short period of time to integrate firmly into the financial market of Western Transbaikalia. An analysis of the organizational structure of the institution, the rights and obligations of its members, the main credit and financial transactions, and priority areas of activity allowed the authors to conclude that collegial management with the participation of people without special financial education, as well as the possibility of obtaining a loan only by members of the company is significantly limited the activities of the Mutual Credit Society. At the same time, financial closures and active participation in the management of all members have greatly reduced business risks. The research revealed that, despite the relatively small financial resources and tangible competition from the branches of Russo-Asian and Siberian Commercial Bank, the Verkhneudinsk credit society promoting entrepreneurial activity of citizens did not have only a positive impact on the economy of the Western Transbaikalia but also it contributed to the strengthening of Russian influence in the transboundary region of Inner Asia.
Key words Western Transbaikalia, Verkhneudinsk, banking system, mutual credit society, cross-border region, trade, industry
Article information
References 1. Batoev, S. D. K. I. Legkov (1877–1958) ‒ doctor, healthcare organizer and social activist. History of Medicine, vol. 3, pp. 66–73, 2016. DOI: 10.17720/2409-5834.v3.1.2016.06z. (In Rus.) 2. Vasil’ev, Ya. V. Human factor in the leadership of mutual credit societies of the Novgorod province. Bulletin of Novgorod State University named after Yaroslav Mudryi, no. 4–2, pp. 27–36, 2015. (In Rus.) 3. Vasil’eva, E. V. From the history of mutual credit societies. Finance and credit, no. 7, pp. 65–75, 2005. (In Rus.) 4. Gruzitskii, Yu. L. The Minsk Society of Mutual Credit (1874–1913). Bank Bulletin, no. 7, pp. 48–51, 2004. (In Rus.) 5. Gruzitskii, Yu. L. Mutual credit societies in the Russian Empire (history of appearance and stages of development). Finance and Credit, no. 13, pp. 66–72, 2002. (In Rus.) 6. Zotova, A. V. Russian mutual credit societies in the context of economic crises of the last third of the 19th century. Clio, no. 9, pp. 43–52, 2011. (In Rus.) 7. Zotova, A. V. The phenomenon of St.-Petersburg first society of mutual credit. Clio, no. 5, pp. 47–53, 2011. (In Rus.) 8. History of Ulan-Ude. Kemerovo: Kuzbassvuzizdat, 2012. (In Rus.) 9. Kal’mina, L. V. The economic space of a provincial Siberian city at the turn of the XIX–XX centuries. Vlast’, no. 7, pp. 93–96, 2011. (In Rus.) 10. Krott, I. I. The interaction of rural business enterprises and credit institutions of Western Siberia during the First World War. Omsk Scientific Bulletin, no. 5, pp. 19–21, 2013. (In Rus.) 11. Medvedeva, N. M. The Pskov Mutual Credit Society in the 1870s–1890s: status, social dynamics, financial and economic characteristics. Magistra Vitae, no. 5, pp. 39–50, 2008. (In Rus.) 12. Sanzhieva, T. E., Tarmakhanov, E. E., Khutashkeeva, S. D. The features of commercial entrepreneurship in Western Transbaikalia in the late XIXth – early XXth century, Bulletin of the Buryat State University, no. 7, pp. 7–11, 2014. (In Rus.) 13. Yago K. The Russo-Chinese Bank (1896–1910): An International Bank in Russia and Asia. Economic History: Yearbook, vol. 2011/2012, pp. 293–314, 2012. (In Rus.) 14. Bonin, H., Yago, K., Valerio N. Asian Imperial Banking History. London: Pickering and Chatto. 2015. (In Engl.) 15. Yago, K. The Anatomy and Pathology of Empire. Three Balance Sheets of Russian and Soviet Banks, in Comparative imperiology (K. Matsuzato (ed.). Sapporo: Slavic Research Center, Hokkaido University. 2010. (In Engl.) 16. Nishimura, S., Suzuki, T., Michie, R. C. The Origins of International Banking in Asia: The Nineteenth and Twentieth Centuries. Oxford University Press. 2012. (In Engl.)
Full articleThe Verkhneudinsk Mutual Credit Society: Background and Beginning Stage in Cross-Border Conditions (1911–1913)
0
0