1 8 Minnie Throop England 



London with London boards of directors. The Bank of Africa, 

 the Bank of British Columbia, the Bank of New Zealand, the 

 Bank of Australasia, and others have their head offices in Lon- 

 don. 62 France and other countries have a somewhat similar im- 

 perial banking system. The Comptoir National d'Escompte de 

 Paris has agencies at various points in Madagascar, and there is 

 also a private bank, the Banque Grenard, which draws on the 

 Credit Lyonnais of Paris. 63 There are at least three Dutch banks 

 in Java, and the banks in Holland also make heavy advances to 

 colonials, so much so that in 1885, for instance, when the Dutch 

 colonies were suffering from the effects of the low prices of sugar 

 and other agricultural products, the mother country narrowly 

 escaped a financial and commercial crisis. 64 In 1903 there were 

 ten banks in the Philippines, among which were agencies of for- 

 eign banks in India, Australia, Hong Kong and Shanghai, also 

 some Spanish banks, but three of the ten were American banks 

 established there since American possession. In the Austrian 

 possessions the Banque Privilegiee de Bosnie et d'Herzegovine 

 was created with a large capital, and the majority of the stock- 

 holders are also stockholders of the Bank Verein of Vienna. 65 

 After Formosa was occupied by the Japanese a branch of the 

 Thirty-fourth Bank, which has its headquarters at Osaka, was 

 opened at Taihoku and shortly after the Bank of Formosa was 

 established by the Government. 66 



Common coinage regulations 67 and use are also not without 

 influence upon trade, although of secondary importance. For 

 example, in most of the German colonies the imperial coins have 

 been made legal tender ; 6S in Bokhara Russian paper roubles are 



02 Cf. Caldecott, English Colonization and Empire, 189. 



63 Vid. Statesman's Year-Book, 1904, 640. 



64 Eckstein, " How a Financial and Commercial Crisis was avoided in 

 Holland," in U. S. Consular Reports, July, 1885, 420. 



65 Barre, La Bosnie Herzegovine, 203-204. 



66 Takekoshi, Japanese Rule in Formosa, 280. 



6T Vid. Muhleman (Monetary Systems of the World) on early colonial 

 monetary conditions. 



98 Loeb, "German Colonial Fiscal System," in Publications of American 

 Economic Association, 3d ser., 1 : 44-1. 



194 



