A. Yes, this system, in France, dates as far back as a century or more.
Q. What is your method of transfer?
A. Transfers from place to place are made by simple notification to branches.
Q. Are the other banks accustomed to use the Bank of France in order to transfer their funds?
A. The greater part of the banks use no other method, even to increase the cash in one of their branches in a remote part of France.
Q. Is the Bank of France subject to examination by the Government?
A. There is no regular system of examination, but the Minister of Finance has the right to ask for information whenever he chooses.
Q. Is the Bank of France regarded as a bank for banks or as a bank for the people?
A. The Bank of France remained for a long time, indeed, the bank for banks, but since it has covered so much territory with its numerous branches; since the minimum amount of all its operations has been lowered; since it has opened deposit accounts to all, it is already and it tends to become more and more—as you ask—the bank of all the French public.
Q. Is there any contention in banking or economic circles that it is necessary to restore or extend the right of issue to banks, other than the Bank of France, to enable them to increase their own profits or to afford adequate facilities to borrowers or to meet legitimate business demands?