NOTEBOOK “β” (“BETA”)

KAUFMANN, FRENCH BANKS

Dr. Eugen Kaufmann , French Banks , Tübingen, 1911 (Supplement I to Archiv far Sozialwissenschaft und Sozialpolitik ). [1]

| p. 362 (I abbreviate): Development of the French network of branches since 1870 (3 big banks: Crédit Lyonnais; Comptoir Nation- al, and Société Générale) | p. 356 The same three banks | | p. 37 French savings banks | |
| --- | --- | --- | --- | --- |
| | Provincial branches | | Deposit of- fices in Paris | | Σ | | Own working capital shown on balance- sheet | | Borrowed money | | Total deposits (mill. francs) | Number of de- positors (mill.) |
| 1870 | 47 | + | 17 | = | 64 | — | (1872) | 200 mill. fr | + | 427 |
| 1880 | 128 | + | 68 | = | 195 | — | 253 | 953 |
| 1890 | 192 | + | 66 | = | 258 | — | 265 | 1,245 | — | 3,325 | 7.3 |
| 1900 | 505 | + | 120 | = | 625 | — | 615 | 2,300 | — | 4,274 | 10.7 |
| 1909 | 1,033 | + | 196 | = | 1,229 | — | 887 | 4,363 | — | 4,773 | 12.5 |
| | | (1906) |

| The French Ministry of Finance has estimated (on the basis of inheritance taxes) the national wealth at 200, 000 million francs (1903-05)—which is below the actual figure. | | | !! |
| --- | --- | --- | --- |
| of which | 55 | (27%) | belongs to | 18,000 persons (p. 37) |
| 75 | (37%) | ”   ” | 45,000 ” |

| | | p. 85 : Excursus: “ French Ownership of Secu- rities ” | | | | N.B. |

| 000 million francs | | | Per annum |
| --- | --- | --- | --- |
| Théry’s calculation (1907) | 61.4 | French | 1,300 million (p. 87) |
| N.B. |||| | 38.5 —— | foreign | 1—or rather (he says) 1,500 million francs |
| | 99.9 |
| About 100 ,000 million francs |

| Théry (1907) estimates ownership of securities throughout the world to be 730, 000 million francs. | ⎞ ⎟ ⎟ ⎟ ⎟ ⎠ | (*) |
| --- | --- | --- |
| including | 115-130 | (Great Britain) |
| 110-115 | (U.S.A) |
| 100-100 | (France) | { | these are Ney- marck’s figures | } |
| 60- 75 | (Germany) |
| |
| 385-420 |

| | (*) p. 287, a note (E. Kaufmann):... “Thus the Deutsche Bank, which, according to the balance- sheet, has holdings of 72 million marks, dominates a group of joint-stock banks which together have about 500 million of capital and 1,300 million of borrowed money” (cf. Lansburgh , “The Holdings System in German National Banking”, Die Bank , 1910, June, p. 504). |
| --- | --- |
| N.B. | | | |
| | | | |
| |

| | Théry’s estimate |
| --- | --- |
| ⎧ ⎪ ⎪ ⎪ ⎪ ⎪ ⎨ ⎪ ⎪ ⎪ ⎪ ⎪ ⎪ ⎩ | Russian (securities) | —10.9 | thousand million francs |
| Austro-Hungarian | — 3.65 |
| Egyptian | — 3.05 |
| Turkish | — 2.5 |
| Dutch | — 1.45 |
| Swiss | — 1.45 |
| Italian | — 1.4 |
| Portuguese | — 1.35 |
| British (including colonies) | — 1.30 |
| Belgian(  ”    ”  ) | — 1.25 |
| Brazilian | — 1.20 |
| Argentine | — 1.10 |
| Balkan states (except Turkey) | — 1.050 |

---
Notes:
[1] See present edition, Vol. 22, p. 214.— Ed .