BANK 277 These banks have passed readily through com- mercial crises which have destroyed large num- bers of such institutions in England. Various attempts to establish a public bank in Ireland were from time to time made, and, meeting with opposition in the Irish parliament, were defeated. It was not till 1782 that a bill was passed incorporating the "Governor and Com- pany of the Bank of Ireland," which institution commenced business in Dublin, June 1, 1783, and is still in successful operation. This was succeeded by the Belfast bank in 1808, the Hi- bernian bank of Ireland in 1825, the Provincial bank of Ireland in 1834, the National bank, and others, all of which are joint-stock banks. The notes in circulation in the United King- dom, other than those of the bank of England, in September, 1872, were as follows : England, 5,057,910; Scotland, 5,313,560; Ireland, 7,242,081 ; total, 17,613,551. The Bank of France. In 1716 a bank was founded in Paris under this name, which was two years subse- quently changed to the Royal bank. Under this organization it remained till 1803, when, having been unsuccessful, it was placed upon its present organization as the bank of France, with a capital of 45,000,000 fr., which was in 1806 increased to 90,000,000 fr. At present the capital is 182,500,000 fr., and the charter of the bank extends to Dec. 31, 1897. It is a bank of deposit, discount, and circulation, issu- ing its own notes, and having an exclusive monopoly of this privilege for the entire coun- try. It is a public institution, the government appointing a governor and two deputy gover- nors, all of whom must be stockholders in the bank. The affairs of the institution are man- aged by a council general of 20 members, who are elected by 200 of the principal stockholders. No bills are discounted having more than three months to run before maturity, and as a general thing must be guaranteed by three approved signatures, though in some instances two are accepted. The governor annually makes a re- port of the condition of the affairs of the bank, with statements in detail of its issues, assets, loans, and other particulars. The annual divi- dends are limited to 5 per cent. ; all profits over that amount being invested in 5 per cent, consolidated stock, to be divided among the stockholders at the expiration of the charter. In 1848 banks existed at Rouen, Lyons, Havre, Lille, Toulouse, Orleans, Marseilles, Nantes, and Bordeaux ; but by the provisional govern- ment these were united to the bank of France. The bank has now 62 branches in various parts of France. In August, 1870, specie payments were suspended, and have so continued to the present time (December, 1872) ; but the pre- mium on gold has never been over 1 per cent. In October, 1872, the bank had of notes in circu- lation 2,524,140,010 fr., held cash in hand 786,- 534,812 fr., treasury bonds and rentes immobi- lisees 1,450,367,500 ft. Belgian Banlcs. The oldest of these is the societe generals, founded Aug. 28, 1822, capital 50,000,000 florins. It was a bank of discount, and managed the finan- ces of the government till after the separation of Belgium from Holland, when it resigned that function to the bank of Belgium. . This latter institution, organized originally with a capital of 20,000,000 francs, was in 1838 compelled to suspend payment, a difficulty out of which it was extricated by the government. However, in 1839 it suspended again. In 1841 its capital was increased by 10, 000, 000 fr., the subscribers to the new stock receiving 5 per cent., while the old stockholders were to have but 4. In addition to this rate of interest, the bank has paid a semi-annual dividend. Up to 1850 it had charge of the affairs of the government, when it resigned them to the National bank of Belgium, founded May 5, 1850. This institu- tion, which is a joint-stock bank, has a capital of 25,000,000 fr. It is a bank of deposit and exchange, and is allowed to issue notes to three times the amount of the coin in its coffers, and issues them of the denominations of 20, 50, 100, 500, and 1,000 fr. In this bank the societe generate took 10,000,000 of the capital, and the bank of Belgium 15,000,000, both agreeing to cease their issues of notes and abandon their discount business, although retaining their or- ganization and receiving deposits. Oct. 9, 1872, the National bank of Belgium held of specie 123,625,000 fr., had made discounts and advances 284,400,000 fr., and had a circulation of 253,550,000 fr. It pays large dividends to its stockholders. Netherlands. The bank of the Netherlands was first chartered in 1814, with a capital of 5,000,000 florins, which was in- creased to 10,000, 000 in 1819 and 15,000,000 in 1838. Subsequent changes have been made, the last in 1863, when it was rechartered. On Oct. 14, 1872, the condition of the bank was as follows: coin and bullion, 117,768,000 fl. ; discounts and advances, 106,056,000 fl. ; notes in circulation, 163,332,000 fl. ; deposits, 36,- 456,000 fl. Austria. The National bank of Austria was founded in Vienna in 1816, for the purpose of restoring the finances and credit of the government, which were greatly impaired. It has the exclusive privilege of issuing circulating notes. Its capital is 110,- 250,000 florins, and its condition, Oct. 9, 1872, was as follows : coin and bullion, 138,760,000 fl. ; discounts and advances, 186,480,000 fl. ; circulation, 319,190,000 fl. Its charter extends to 1876, and it loans to the state, in considera- tion of the privileges granted it, 80,000,000 fl. without interest. The rate of discount varies between 4 and 5 per cent, per annum ; it issues bills of 5, 10, 100, and 1,000 fl. ; and it has 22 branches in different parts of the empire. German Empire. The Royal bank of Prussia was established at Berlin, June 17, 1765, as an exchange and loan bank, with a capital of 400,000 thalers. Dec. 31, 1871, its capital was: bank shares, 20,000,000 thalers; state active capital, 1,906,800 ; and it had a reserve fund of 6,000,000 thalers, giving an actual working capital of 27,906,800. It held deposits of 20,-
