RAIFFEISEN, FRIEDRICH WILHELM (1818-1888)

This article appears in Volume V22, Page 818 of the Encyclopedia Britannica.

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RAIFFEISEN, FRIEDRICH WILHELM (1818-1888) , founder of the German

system

SYSTEM

of agricultural co-operative banks, was
1 The preamble to the Foreign Enlistment Act 187o stated that its object was "to make provision for the regulation of the conduct of Her Majesty's subjjects during the existence of hostilities between foreign states with which Her Majesty is at peace." This preamble was repealed by the Statutes Law Revision (No. 2) Act 1893.
z R. v. Sandoval, 1886, 56 Law Times, 526.
2 R. v. Jemeson, 1896, 2 Q.B., 425.
born at Hamm on the Sieg on the 3oth of

March

x818, being the son of Gottfried

Raiffeisen

RAIFFEISEN,
FRIEDRICH
- FRIEDRICH, JOHANN (1836— )
WILHELM (1818-1888)

, burgomaster of that place. Educated privately, he entered the artillery in Cologne, but defective eyesight compelled him to leave the army. He then entered the public service at Coblenz, and in 1845 was appointed burgomaster of Weyerbusch. Here he was so successful that in 1848 he was transferred in a like capacity to Flammersfeld, and in 1852 to Heddersdorf.

Raiffeisen

RAIFFEISEN,
FRIEDRICH
- FRIEDRICH, JOHANN (1836— )
WILHELM (1818-1888)

devoted himself to the improvement of the social

condition

CONDITION (Lat. condicio, from condicere, to agree upon, arrange; not connected with conditio, from condere, conditum, to put together)

of the cultivators of the soil, and did good

work

WORK

in the planning of public roads and in other ways. The distress of the years 1846-41, the causes of which he discerned in the slight amount of credit obtainable by the small landed proprietors, led him to seek for a remedy in co-operation, and at Heddersdorf and at Weyerbusch he founded the first agricultural co-operative

loan

LOAN (adapted from the Scandinavian form of a word common to Teutonic languages, cf. Swed. Mn, Icel. lan, Dut. leen; the O.E. laen appears in " lend," the ultimate source is seen in the root of Gr. Xeiaecv and Lat. linquere, to leave)

banks (Darlehnskassenverein). These banks were called after him, and their foundation resulted in a widespread

system

SYSTEM

of land banks, supported by the government. In 1865 the state of his health compelled him to retire, but he continued to take an

interest

INTEREST

in the

movement

MOVEMENT

he had originated, and in 1878 he founded at Neuwied a periodical, Das landwirtschaftlicheGenossenschaftsblatt. He died on the r ith of

March

1888.
Among Raiffeisen's writings are, Die Darlehnskassenvereine als Mittel zur Abhilfe (Neuwied, 1866; new ed., 1887); Anleitung zur Geschafts- and Buchfahrung landlichen Spar- and Darlehnskassenvereine (new ed., 1896); and Kurze Anleitung zur Griindung von Darlehnskassenvereinen (new ed., x893). See A. Wattig, Friedrich Wilhelm Raiffeisen (189o); H. W. Wolff, People's Banks. A

Record

RECORD (Lat. recordari, to recall to mind, from cor, heart or mind)

of Social and Economic Success (1895); and Fassbender, Friedrich Wilhelm Raiffeisen (Berlin, 1902).

End of Article: RAIFFEISEN, FRIEDRICH WILHELM (1818-1888)

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