GIPE-PUNE-OIIOI2 - DSpace@GIPE

76 THE RE-MAKING' OF THE REICHSBANK
law compulsory in all the banks ,of the
country. The control, over ,the entire. banking
business of the Empire is thus of a very effective order.
In this respect the Reichsbank is more •• central" than the'
Bank of England. And it is doubtful if the Banque de
France's influence as a central institution is greater than
that of Reichsbank, so far as this item is concerned.
The Note-Banks vis-a-vis the Government
There are important differences between England,
Germany and France in regard to the administration of
the Central Bank.
The Banque de France has been governed since the
law of 1800-1808 by a •• general assembly," consisting of
200' members. They are the largest shareholders of this
institution. The assembly's affairs are administered by
two smaller bodies, the "council" and the "committee."
The council consists of 15 •• regents" and the committee
of 3 "censors." The regents are the actual directors or
administrators, The functions of the censors consist in
auditing the accounts.
The regents are elected by the general assembly.
Of them 5 are to come from among the shareholders.
But they must possess actual business qualifications as
'ptanufacturers or merchants. from among the government's
provincial treasury officials ,the assembly is to.
choose 3 regents. In regard to the remaining seven, the
assembly is free in its choice.
The whole ;idministration is presided over by one
governor and two deputy-governors. All these three
officials are appointed, by the government. They have
generally been men in high service. The governor