The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-10-10
POSTAL BANKS IN FRANCE.
They Are Very Popular In All Parts
OF the Observation-Disclosures.
From the Chicago Record.


From the Chicago Record.
The system OF postal savings banks in
operation in France is known as the Caisse
Rationale d'Epargne. Qitterally, Case
or box, national of savings.') 1t is consti-
tuted mainly under the laws passed in
1881, with a few important changes in
1895. The system is made to extend over
all of France, Corsica, Algeria, Tunis and
Beyrout, and in the principality of Mo
naco. Its branches are as numerous as
there are offices in the postal and tele-
graph systems of France. The system of
postal savings banks has been found to be
a great success, The government stands
as absolute guarantor to the depostOr
against loss, and the result of the work
lnSs of the Caisse Rationale dEpargne is
that there are no savings bank failures
Every postoffice under the French govern
ment is a savings bank. At each post
office may be found a receiver-either 10
handle that part of the business especial
~ or in connection with the regular pos
tai work, according to the importance of
the oftice-and this receiver is directed and
authorized by the department to accept
the moneys of depositors and conduct the
operations as do the corresponding officials
IN ordinary savings institutions.
There are in all about 5000 offices at
which savings may be deposited under the
protection of the French government. In
the provincial districts all the savings
business is transacted Immediately in con-
nection with the postal business, but in
Paris and in the other large cities OF
France the savings department is so i'm
portant that separate headquarters are
a necessity.
The method is simple ANY person nav
hnpOO1R 61nncirnr qE r,of+ ot,iI
of any age whatsoever, thus assisting the
all-desired development of the savings idea
at the earliest age. In the matter of REIN
bursements the only restriction comes in
the requirement that minors must be l6
years old or over in order to be permitted
to withdraw without the authority of their
legal representatives. Interest is paid on
deposits at the rate of 212 per cent. This
interest starts from the first or the six
teenth of the month after the day of de-
posit It ceases to operate from the first
or the sixteenth which precedes the day
of withdrawal. On Dec 81 of each year the
interest which has accumulated Is added
TO the principal and becomes itself pro-
ductive of interest
The amount to which the deposit Of any
one person may attain during any one
year is 100 francs (about 5000 Under the
old law the maximum was 1900 francs, but
in 1895 this was reduced to 1900 The rea-
ment thought best to reduce its RESPONSE
bility, the total amount of deposits having
become so large that in case of a great
disturbance or panic the demand for re-
Endorsements might suddenly become very
great. In case of a rush or run on tie
bank the government reserves the right
by law to limit the individual withdrawals
to 50 francs each fifteen days. This is eX-
pected to act as a sufficient safeguard
against depletion of the fund in too short
time
Then comes the question of the further
investment of the funds after the depoSitor
has reached the maximum. When this
maximum Is reached the depostor re-
ceves notice from headquarters to that
effect, and his instructions are awaited in
respect to whether he wishes simply to
withdraw the money or prefers to reinvest
in government securities. If the latter is
his choice the business is transacted for
him and he is provided with an equivalent
amount in French rentes, the securities
which correspond to government bonds in
the United States. These securities pay
per cent. interest. Their purchase by the
Caisse d'Epargne for the customer date
depository is gratuitous. no fee whatever
being attached to the transaction. These
French rentes are in 20-franc ($D issues,
and al the present time range in value on
the bourse from 1914 to 100
A late statement of operations by the
French system of postal savings banks
from Jan. l, 1882, to Dec. 81, 1885, is as fol-
lows: Number of depositors, 26,04953S;
amount of deposits, 1854 672,171 francs;
number of Withdrawals, 105S7, 5O3; amount
of Withdrawals 2,757, 2106S7 francs; amount
of purchases of government securities,
7O9Sl,3h francs; excess or deposits over
Withdrawals and purchases of govern
ment securities, 635, 400 143 francs; amount
of interest accrued TO depositors. 14S, 592, 500
francs. The situation up TO Dec. 81 1895,
was: Number of depositors. 2,6s6 100;
property of depositors, ISL, $50 POI francs.
The number of depositors on July 81 1897,
was 2,S25 226
r,.s- .zra,