GIPE-PUNE-OIIOI2 - DSpace@GIPE

68 THE RE .. MAKING OF THE REICHSBANK
Generale and Comptoir National accounted for the following
figures : 21
..
..
31 Dec. 1899
1905
1912
1,665,000,000
2,760,000,000
4,200,000,000
francs
..
The story is· one of growth. It registers an inctement
of 40 p.c. in the course of some twelve years.
On the other hand, the bill discounting business of
the Banque de France 22 was, with a few exceptions. almost
invariably on the declining curve from 1880 to 1905. The
daily average is indicated below:
•
1880 758,500,000 francs
1890 669,600,000 ..
1895' 543,600,000 ..
1901 592,400,000 ..
1905 640,500,000 ..
The private banks were depriving· the Banque of this
kind of commercial business. By 1912 its daily average
rose indeed to 1,333,000,000 francs. But then. the "big
three" combined were more than thrice as powerful as
itself in this field. Even one of them, the Credit Lyonnais.
possessed a portfolio of 1,411.000,000 francs.
For recent years a comparative view 23
of the
porte/euille commercial (discount business) in regard to
..
" 21 Kaufmann and Sacker: La Banque en France (Paris, 1914), p. 473.
22 Courcelle-Seneuil, pp. 276-277.
: .. 23 Caullet: L'.Aid~ a l'lndustri. ef La Ciquidite des Capitau" (P .. ris,
1928), pp. 16S, 176; Banqlle de France: Compte rendu. On De.:. 24 1931 the'
porteJeuille commercial was 7,969 millions, 1926 was still an inflation year.
H~nce the'figures for francs loot&: rather high. compared to 'those in pre-war
years. It is in 1928 th~t' the ne";" franc comes into' exist~nce. " "