Morning journal and courier., 1891-03-17

fancy, have predisposed part of the bus mess community against the bank, and a strong effort is making to prevent a re- newal of it's privilege, at least not with out important notifications in it's methods of dealing with the public and in its rela- tions with the government.
 The management of the bank is entrust- ed to fifteen regents and three examiners, who, with the governor and two deputy governors, form what is called the admin istrative council. This board of directors. as New Yorker would say, meets once week, fixes the rate of discount-which rarely varies from three per cent-and decides upon all questions concerning the banks transactions. The governor has a veto power over all the decisions. The if teen regents are selected at a general meet ing of the stockholders, and are renewed by htths every year. This general meeting is composed always of the two hundred largest stockholders who have held their shares for six months preceding the call. Five of these directors must be chosen from among manufacturers or tradesmen who are stockholders, and three from among the tresoriers-payeur genreaUX, departmental officials of the treasury. These functionaries are given a place on the board of directors because the large amount of government money they handle must be kept at the bank There are five sub committees, each one superin- tending q special branch of the banks transactions. The three examiners super wise all the business done: they are select ed by the two hundred stockholders from among the commercial men owning shares i'll the bank, and their unanimous refusal suspends all new issue of bank bills. Un- like the Bank of England, which is limited i'll its issue of bank notes to about eight hundred and eighty-niue million five hun dred thousand francs, the Bank of France can issue bills to the amonnt of three bil- lion five hundred million. The aggregate circulation at the present time is about six hundred and seventeen million dollars. The shares of the bank, the par value of which is one thousand francs, are now worth 1865, and pay nearly four per cent dividend
 The building occupied by the Bank of France was constructed in 1520 by the architect Mansard for the Due de Vrilliere and restored at the beginning of the pres ent century. IL covers all the space com prised between the rue de Ia Vrilliere, the rue Rad ziwill, the rue Bailiff and the rue CroiXdes Petits- Champs. The part of the building open to the public has no special character, the clerks being caged in as they are in most of the Parisian banks. But the vaults are more interesting, although the treasures they contain sre not guarded by invisible genii or winged dragons; they are protected by solid walls where granite cement and iron are combined to render them inaccessible. The entrance to the first vault is defended by an iron door with three locks, whose keys are held by the governor, one of the examiners and the head cashier. When the door is opened we are in a small room containing the safe in which is kept the money used each day This safe has combination lock which, if touched by stranger. i'm mediately gives an electrical alarm that is heard all over the building \ second door, also with three different locks and opened only by the keys of the three high functions just cited, leads to what is called the "conservatory, or safety deposit vault, where securities and other yalua- bles are kept. It was here that the old Duke of Brunswick used to place his ia nous collection of diamonds when he went off on holiday. The bank charges one eighth per cent. for six months on the value of these deposits. The entrance to the next room is concealed by iron bound door hidden in n wall. Like all the other doors, it has secret combination lock, the keys of which are kept by the three high officials previously named. Once inside the room We see a narrow spi- ral stair case, just wide enough for one person, and at the foot of this stair case there is still another door with three locks This is the last barrier before reaching the vault where the precious metal is kept. Ranged on all sides are large iron boxes whose covers are lined with lead this metal being used SD that the boxes can be immediately sealed in case uf necessity. \ IT t6aS.. hnNas marked ,..-l,r,7i,,r- sa their contents. Some contain gold ingots, others silver and gold pieces of different denominations, each hox holding millions. The amount of gold and silver on hand varies from seven hundred millions to over two and a half billions. At the time of the recent transfer the vaults contained one billion one hundred and ninety-six million five hundred thousand francs in gold and one billion two hundred and for tv-four million in silver
 Other interesting parts of the bank are the golden gallery. which Was restored in 1SiJ, the printing office. and the room where the old bills are reduced Ia pulp by chemical process. The bank manufactures its own paper. ink and all materials used in it's office It employs large staff of chemists and en.rayels who are constant ly trying to find means to outwit the most skilfui cnunterfeiterS.
 The governor of the Rank of France is Joseph uagnn. senator, and at one time minister Of commerce. He k now sixty seven years oli. and was in early life, like his father before him. an iron-master at Dijun. He was first elected deputy in 1863. and soon distinguished himself by his discussion of financial questions. He voted constantly against the empire, and after the fall of that government was named minister of commerce. When the senate WAS renrsauizrd in 1876 he was chosen life member N. Magnin is a very capable financier. and under his di rectiOn tbe Bank of France has reached U degree of prosperity hitherto unknown. During the winter season the governor gives two or three receptions in the splen- did private apartments occupied by him at the bank. and these soirees are among the most enjoyable of the official entertain ments.