El Paso daily herald. (El Paso, Tex.) 1881-1901, 1897-10-19
POSTAL BANKS IN FRANCE.
They are Very Popular in all Parts of thu
Observation-Disclosures.

They are Very Popular in all Parts of the
Repubic-Statistics.
The system of postal savings banks
in operation in France is known as the
Caisse Rationale d 'Epargne. Literally.
Case, or box, national of savings.")
1t is constituted mainly under the laws
passed in 1881, with few important
changes in 1895. The system is made to
extend over all of France, Corsica,
Algeria, Tunis and Bsyrout aud il
the princi pality of Monaco. Its bran
ches are "a numerous as there are Of
fees in the postal and telegraph 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 depOsitOr
against loss, and the result of the work.
i1es of the Caisse Rationale d 'Epargne
is that tn ere are no savings bank fail
ures. EXery pOstotfice under the
management of the French govern
ment is savings bank. AT each post
Office may be found receiver-either
to handle that part of the business es-
peciallv or in connection with the re-
gular postal work. according to the
Importance of the otfice-and this re-
ceiver is dir ected and authorized by
the department. to accept the moneys
of depOsitors and conduct the opera
tions as do the corresponding officials
in ordinary savings institutions.
There are in all about 8, 600 offices at
which savings may be deposited under
the protection of the French govern
ment. In the provincial districts all
the savings business is transacted i'm
mediately in connection with the postal
business, but in Paris and in the other
large cities of France the savings de-
partmemt is so important that separate
headquarters are necessity.
The method is simple. Any person
may become a depositOr. This admits
children of any age whatsoever. thus
assisting the all-desired development
of the savings idea ct the earliest age.
In the matter of reimbursements the
only restriction comes in the require
ment that minors must be 10 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 - per
cent. This interest starts from the
| first or the sixteenth of the month after
the day of deposit. 1t ceases to operate
| from the first or the sixteenth which
proceeds the day of withdrawal. Ga
| Dec 81 each year the interest which
| has accumulated is added to the prin-
cipal and becomes itself productive of
| interest.
| The amount to which the deposit
of any one person may attain during
any one year is loo francs (about
| $780, Under the old law the maximum
was 1000 francs, but in 1895 this was
reduced to 1900. The reason for the
reduction was that the government
| thought best to reduce its re-
| sponSibility, the total amount of de-
posits having become so large that in
case of great disturbance or panic
the demand for REIN bursements m ght
suddenly become very great. In case
of rush or run on the bank" the
| government reserves the right by law
to limit the individual Withdrawals to
so francs each fifteen days. This is ex::
pected to act as sufficient safeguard
against depletion OF the fund in too
short a time,
Then comes the question of the fur
Their investment of the funds after the
depositOr has reached the maximum.
When this maximum is reached the
depositor receives notice from head
quarters to that eife ct. and his instruc.
tions are awaited in respect to wheth er
he wishes simply to,withdraw the none J
or prefers toi'reinvest in COVE nmen1
securities. If the latter ia his choice
the business is transacted for him and
he is provided with an equivalen,
amount in French rents, the securities
which correspond to government bonds
in the United States. These securities
pay per cent interest. Their purchase
by the Caisse d'Epargue for the Gus.
toner (late depository is gratuitous, nc
fee whatever being attached to the
ransaction. These French rents are
in 20-franc 81 issues, and at the pre-.
sent time grange in valua on tbs
bourse from 10i TO los.
A late statement of operators by
the French system of. po tai savings
banks from Jan. l, 1882, to Dec 81
1896, is as follows: Numbe of deposit
o,s, 26,049, 539; amount of deposits, 3,
AGA, 612, III francs; number of with
drawals, 10, 1887, SOB frames; amount oil
withdr awls, 2, 157 ,270, 687 francs;amoun
of purchases of government securities
70,eSl,S4l francs; excess of deposit
over Withdrawals, and purchases of gov