brokers, who had in turn discounted them for the humbler classes of artisans, known as makers of the Articles de Paris. These bills are presented to the bank for discount, with accompanying schedules. The greater part of them are bills of exchange, and are drawn by small manufacturers." Particulars of a somewhat similar character in regard to the bills discounted by the National Banks of the United States were obtained by Mr. Knox in the previous year (1879). From the returns he obtained, it appears that the total amount of bills discounted and held by these banks on the 2nd of October of that year was 875 millions of dollars (£175,000,000). The number of discounted pieces of paper then held was 808,269; the average of each discount was $1082.59 (about £217); and of the total number those of $100 (£20) and less, was 251,345, or nearly one-third of the whole. Those of less than $500 (£100) numbered 547,385, or considerably more than two-thirds of the whole, while the number of bills of less than $1,000 (£200) was 642,765, or more than threefourths of the total. There were, however, more than 12,000 "pieces of paper" in amounts of over $10,000 (£2,000) held chiefly in the larger cities. The small pieces of paper," Mr. Knox states, "corresponding to the small trade bills of the city of Paris, which are in part received by sewing machine companies, manufacturers of billiard tables, pianos and farming implements in monthly payments on these articles sold by them, are usually received by the bankers in the United States as collateral security for loans, and are forwarded by them for collection." CARRIAGE OF FINANCE PARCELS BY RAILWAY COMPANIES ON THE CONTINENT.-A question of interest to bankers has just been decided in the Appeal Court of Rennes. The railway companies convey -under a certain tariff-parcels of what is technically called finance that is to say, sealed packages, boxes or bags containing cash, notes or securities of declared value. Messrs. Mesle & Co., bankers of Rennes, to whom two packets of a value of 19,058 fcs. were addressed through the Western Railway Company, claimed the right to open the parcels on delivery to verify their contents in the presence of the railway company's servants. That pretension was objected to by the company on the ground that they had not verified the contents on receiving the parcels. They maintained that the receiver, had only a right to examine the exterior of the packages, to see that the fastening and seals and the seams of bags were intact, and bore no signs of having been tampered with. The Tribunal of Commerce, before which the suit was first heard, gave judgment for the bankers, but the Appeal Court has set aside that verdict, and decided in favour of the railway company.-Economist. SUMMARY OF AUSTRALASIAN BANK RETURNS. New Zealand.-This includes £705,689 Government deposits. In other colonies' returns Government deposits are not separately distinguished (except by the Bank of Australasia in New South Wales), which includes in its deposits bearing interest Government deposits, £43,775. + Tasmania.In this colony's Bank Returns, deposits bearing interest are not distinguished from those not bearing interest. Coined gold and Including notes, bills of exchange, and all stock and funded debts of every description, except notes, bills, and balances due to the banks from other banks. + Victoria-Government securities (1 any) held by the banks are not separately distinguished in their returns. New South Wales.This includes £1,883,415 Government securities. New Zealand.--This includes £80,000 Government securities; notes and bills discounted, £4,365,643; debts due to the banks, exclusive of debts abandoned as bad, £7,404,137; securities not included under other heads, £404,834. South Australia.This includes £25,000 Government securities. **Queensland.-This includes £8,217 Government securities. + Tasmania.-This includes £79,778 Government securities. tt Western Australia. -This includes £5,200 Government securities. From the Australasian Banking Record, WHEREAS it is expedient An extract from the Tree Mr. Gladstone's proposal for The First Lord and Chancellor does not contemplate i to the above manity of £200,00 Cols at 100, an annuity of 4458780 nt of Trustee and Pat W whole seven milim wedd The creation or from the d erpetual amities of ord and Chancellor has now shown that he can provide means for effecting the intended operation, and he tate the sources from which he will obtain the stock. Teh each such bend fill the d on Savings Bank account, and he has satisfied 2) Daring twenty-eyeurs vill still have more than £11,000,000 of stock in in communication with the National Debt Commisready to find £20,000,000 of the amount required, at amount may be provided without risk, as the rged on and paid out of the Comical Full M l for each perpetual am sof ons pound, and aftermals of fourpence for every dredh ount of perpetual sites real af he National Debt Commissionen If it were part of the new inking had arge amount of other valuable securities, including hequer Bonds, which it is proposed to convert alance, therefore, will be at their command amply r requirements, for it must not be forgotten that y receiving back large amounts of principal conuity, a great part of which will doubtless bo 3) The perpetual annifies mebel tall rged on the Consolidated Pond, but he twenty-five year alore-mened, ali halle section eball not be paid out of the y the National Debt 4.) This section shall apply to Ebene bola ling month of August, one thonend eight land er before or after the passing of this arliament will allow him to take the remainder, m the large amount of stock standing in the ry Paymaster. 8. For the purposes of this At the blowing ye 1.) The annuities shall be created by m Treasury to the Bank of England ision of the Royal Court of Justice hold, as the ery large amount of securities. Day by day, are received into Court, and are delivered out the increase of wealth and population, the t increases, and the consequence is that the in the hands of the Court continually increases. of the scheme Mr. Gladstone confines himself ks, and he has to point out that the Court in their books, as from the date of non mi warrant, perpetual annuities of the p "National |