New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-25

some of them very important Their com
bined capital exceeds $500, 100000, and their
resources are about 5000, 100000. These
banks all carry large deposit accounts,
but rely on the Imperial Bank for redis-
counts. Through separate institutions,
Germany provides for mortgage loans,
and for agricultural borrowers and others
Of the smaller class other institutions are
further maintained. The value of the
German mark is 23.S cents.
Franch Banking System.
The banking system of France dates
from the year 1900. although its bank
ing powers were not extended to note
issuing until 1903. when Napoleon l.
granted full privileges. The charter at
first ran TO 1915 then to 1913, then TO
1867. and finally in 1897 was made con-
tnuous In 1S4S the monopoly Of note
issuing was centred in the Bank of
France. In order to make this possible
number of other banks were purchased
which enjoyed ancient privileges as note
issuing institutions.
The stocks Of the Bank of France are
all controlled by private ownership, but
the government appoints the chief official
and his immediate assistants. The direc-
ton of business is intrusted to a general
council Of seventeen and three censors,
chosen by shareholders, The chief official,
the governor, has the power 10 veto the
councils acts. Irrespective of the many
changes in the government of France, the
bank has continued with increasing power
and usefulness, which fact has strength
al Ire IA no ha ms a nd
developed a growing confidence. The
original capital of the bank was 100000
francs, which has been increased from
time 10 time until now II is lH,5OO,OyO
francs. Shares are 1000 francs each. a
franc is equal 10 1873 cents.
The law governing note issues does not
restrict the question Of reserves. The
maximum amount Of notes that may be
issued by the Bank Of France Is regu-
lated by law, which changes 10 suit the
developed business needs. Il provides
that notes shall be proportioned 10 the
cash reserve in the banks vaults ana
with regard 10 maturing OF the bank 5
negotiable paper that no delay VIII De
experienced in payment OF obligations.
| Notes and bills discounted must carry al
| least three names, and usually must not
exceed ninety days The Bank OF france
as a rule, is not obliged TO limit dis
counts to maintain its reserve. AS re-
| suit the discount rate ordinarily Is kept
/ low II necessary, the bank may refuse
| at any time to pay out gold on It's notes,
and may tender silver and exact pre-
MUM for gold. The use OF checks In
| France Is very limited, and more actual
money is required 10 carry on business
France differs from most other countries
| in using very little deposit money. The
| conservatism OF the Bank Of France IN
| fits international relations Is well KNOWN
! though it's helpful attitude, Whlle con.
| fined largely TO the general welfare OF
| France is extended TO other countries,
! and on occasions the bank has assisted
| the London money market, supplying
! gold from its reserve.
/ There are various other banks IN
! France. but many Of the minor ones
| make no reports and no record is kept
of them The principal ones are the
l Credit Lyonnais, the Societe Generate
! and the Compton National Escompte
| These banks, in turn, have about l'%g
| branches For mortgage loans there Is
! one large institution, the Credit Foncier'
/ which has practically $4,000" francs
! in assets.
! 10 be continued Monday, December -