The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-11-03

They Are Very Popular in All Parts
of the neutrality-suspicious.

LGAEdgo EteCDtG.
The system % postal savings banks IN
operation n France Is known as the
Caisse Nationale d'Epargre. LITERALLY.
Case. or box. national Of savings II
Is constituted mainly under the laws
passed Fl ISL with a few important
changes IN 1886. The system Il made 70
extend over AT OF France. Corsica, Al
geria. Tunfs ard Beyrogt and IN the pTin-
cipeiity Of Mouaco. It's branches are as
numerous az there are Offices In the pos
tai and telegraph systems % France The
system OF postal savings hanks has been
found 70 be a great success. The govern
meut stands as absolute guarantor 10 the
deposifOr against loss, and the result Of
tire workings OF the CaIsse Rationale
d,Eparene Is that there are no savings
hank failures. Every postoffice under the
management Of the French government
Il q savings bank. At each postoffice may
b. found a receiTer-either to handle that
part Of the business especially or In con-
neciion with the regular postal work, ac-
c0rding 10 the Importance of the Office
and this receiver Is directed and author
tied 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 $500 Offices at
which savings may be deposited under the
protection OF the French government. In
the provincial districts all the savings
business Il transacted Immediately in con-
nection with tire 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 may
become depositor. This admits children
OF any age whatsoever thus assisting the
Sil-desired development Of the savings
idea az the earliest age. In the matter Of
ACCOMPLISHMENTS the only restriction
comes IL the requirement that minors
must be is years old or over in order TO
be permitted to withdraw without the
authority of their legal representatives.
Interest is paid on deposits al the rate Of
2'z per cent This interest starts from
the first or the sixteenth Of the month af-
ter the day Of deposit. II ceases 10 oper-
ate from the first or the sixteenth which
precedes the day OF Withdrawal. On De-
cember 81 Of each year the interest which
has accumulated is added to the principal
and becomes Itself productive of interest.
The amount TO which the deposit of
any one person may attain during any
one year IS l.5eg francs fabout $500. Tn
der the old law the maximum was 2,9o
francs. bar IN 1895 this was reduced to
l5a@. The reason for the reduction was
that the government thought best 10 re-
duee it's responsibility, the total amount
Of deposits having become so large that
in case OF a great disturbance or panic the
demand for reimbursemeuts might sud
denly become very great. In case of a
rush or run on the bank" the govern
ment reserves the right by law TO limit the
individual Withdrawals 20 80 francs each
fifteen days This Is expected TO act as a
sufficient safeguard against depletion OF
the fund in too short a time.
Then comes the question of the further
investment Of the funds after the deposit
or has reached the maximum. When this
maximum Is reached the depositor re-
ceives notice from headquarters 10 that
effect, and his Instructions are awaited in
respect 10 whether he wishes simply 10
withdraw the money or prefers TO Teinvest
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 10 government bonds in
the United States. These securities pay 3
per cent Interest. Their purchase by the
Caisse d Epargne for the customer Gate
depository Is gratuitous no fee whatever
being attached 10 the transaction. These
French reutes are In 2o-franc $50 issues.
and at the present time range in value on
the bourse from 104 to los.
\ late statement OF operations by the
French system Of postal savings banks
from January l. lss2. 20 December 81. 1886,
is as follows: Number Of depositors. 26-
csc l3S amount Of deposits. 34ei6.2 IL
francs; number Of Withdrawals 10 So. SOB;
amount OF Withdrawals 1851 27a 81 francs:
amount Of purchase Of government secure
ties 70.9s134i francs: excess Of deposits
over Withdrawals and purchases OF gov
eminent securities. 636, 40 l43 francs;
amount OF interest accrued 20 dcpositors.
l4S zoe 5aa francs. The situation up TO De-
ccmber 81 1895. was; Number of deposit
ors. 2eS6.7 9a: property Of deposltOrs. 7S4.-
9-0.9f7 francs. The number Of depositors
or July 81 1897. was 2s95. 226