32 BULLETIN OP THE 



the amount of securities of the French Government held by it, he 

 proceeded to quote from the bank reports of 1879 the classification 

 of the Paris bills received at the bank : 



Bills of 10 fr., or $2 each, and under - - 7,842 



Bills of 11 fr. to 50 fr. each, or $2.20 to $10, 392,845 



Bills of 51 fr. to 100 fr. each, or $10.20 to $20, 623,232 



Bills of above 100 fr. each, or $20 - - 2,878,294 



Total 3,902,213 



The average value of the bills thus discounted at Paris, in 1879, 

 was 859 francs or $171.80. At the branches of the bank, of which 

 there are ninety, the average amount of the bills discounted was 

 992 francs or $198.40. Similarly in the year 1878, this average 

 value was, at Paris, 892 francs or $178.40, and in the branches of 

 the bank 992 francs or 198.40. The averages for both the bank 

 and its branches were for 1878, 944 francs or $188.80, and for 

 1879, 900 francs or $180.00. 



The bank of France receives these bills from bankers who keep 

 accounts with it as it discounts only for its depositors. These 

 bankers in turn discount them for small brokers who receive them 

 for this purpose from the working classes. The bills are presented 

 at the bank with accompanying schedules. The rate of interest is 

 the same on small bills as on large ones, and no charge is made 

 beyond this ordinary discount or interest. The greater part of 

 these small bills are promissory notes and issued from small manu- 

 facturers, and also from workmen on their own account, known as 

 makers of the Articles de Paris. The annual exports of such 

 articles amount it is said to twenty-five millions of dollars, and 

 they consist of nic-nacs, toys, dolls, cheap bronze jewelry, and simi- 

 lar products. 



Mr. Knox also gave a classification of the notes and Jbills dis- 

 counted and held by the National Banks of the United States on 

 October, 2. 1879, when the total amount of loans was $875,013,107. 



