THE CONTRIBUTION OF THE ROMANIAN CREDIT INSTITUTIONS FROM THE PARTS OF ARAD TO THE MODERNIZATION OF THE ROMANIN SOCIETY TILL THE FIRST WORLD WAR

THE CONTRIBUTION OF THE ROMANIAN CREDIT INSTITUTIONS FROM THE PARTS OF ARAD TO THE MODERNIZATION OF THE ROMANIN SOCIETY TILL THE FIRST WORLD WAR

Mar 4, 2021 | 0 comments

The process of modernization of the Romanian society, started in the last two decades of the 19th century, accelerated at the beginning of the 20th century, as a result of the appearance in the rural area of numerous credit institutions and savings houses. An important role in the modernization process of the Romanian society in the parts of Arad was played by „Victoria”, a credit and savings institute joint stock company founded by a group of intellectuals in the area in 1887. At the beginning of the 20th century, „Victoria” was the second Romanian bank in AustriaHungary in size and contributed to the establishment of other credit institutions in the Romanian villages in the Arad Plain. Through the appearance of credit institutes, the elements of capitalism entered the rural Romanian world. Credit institutions in rural areas will stand out as some of the most important institutions that supported the needs of Romanian society, which was going through a process of modernization, but also faced a number of problems in the early twentieth century, when the Hungarian political class implemented the harshest denationalization measures.

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INVOLVEMENT OF THE CREDIT INSTITUTE AND ECONOMIES „VICTORIA” FROM ARAD IN THE PROBLEMS OF THE ROMANIAN SOCIETY (1900-1914)

INVOLVEMENT OF THE CREDIT INSTITUTE AND ECONOMIES „VICTORIA” FROM ARAD IN THE PROBLEMS OF THE ROMANIAN SOCIETY (1900-1914)

Feb 25, 2021 | 0 comments

The Victoria Credit and Saving Institute in Arad, also known as the Victoria Bank, played an important role in the evolution of Romanians from the dualist monarchy. Considered the second Romanian bank, it granted loans with convenient interest rates and competed with the most powerful banks in the area. The period 1900-1914 is one of prosperity for the Victoria Institute, which expanded its activity in the rural world by establishing three branches in Arad County. During this period, the Institute became more and more involved in solving some problems faced by the Romanian society. Since 1900 the management of the Institute has taken part in a series of charitable activities whose main purpose was to help the poor children of the Arad schools. In the following years, due to the intensification of the Magyarization policy, the Institute became more and more involved in such activities and supported the edification of new schools,in order to correspond to the law imposed by the Budapest authorities, which led to the rescue of the Romanian schools, so the Magyarization policy did not reach the expected level.
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VASILE STROESCU, SUPPORTER OF SCHOOLS AND CHURCHES IN THE ARAD DIOCESE

VASILE STROESCU, SUPPORTER OF SCHOOLS AND CHURCHES IN THE ARAD DIOCESE

Feb 25, 2021 | 0 comments

Knowing well the Transylvanian and Banat atmosphere, Vasile Stroescu was the most important Maecenas whom helped the confessionary Romanian’s schools, which were strongly affected by the Hungarian legislation from 1907. In this context, Vasile Stroescu outstands as a upholder for the schools and Romanian orthodox church from Arad Bishopric. As a result of his help, lot of Romanian schools were saved, and the school’s legislation made by the political elite from Budapest at the beginning of the 20th century, which had a target to transform Romanian’s schools into Hungarian’s ones, did not have the results foresight by the authorities, and led, contrary, to the strengths of the national solidarity and to strengths of the bonding of Arad’s intellectuals to the intellectuals of other Romanian counties.
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