«It is indispensable in order to produce its whole useful effect, that the Savings Bank should be completed by distinct bodies which regulate its working. It is by this organic development that the fruitful character of the genius of our legislators will show itself.» Our bill tends less to give a larger expansion to these original functions of the Savings Bank than to set free a new function which will carry we think according to the words of Mahillon, its useful effect to a still higher degree. The Act of 1865 makes no preparation for this putting into motion the property of the depositors, but then neither its text, nor the spirit even of the institution excludes it. It has been seen at work in the examples of Austria and Hungary; such important innovations however require in themselves real legal sanction. Thus it is that the two large classes of operations which the new service proposes to combine, imply the possibility for third parties to effect at all post offices payments in favour of depositors whose deposit-books will be kept centralized at the General Savings Bank. To-day the deposits, like the withdrawals, although they can be effected at all the post offices, can only be so effected on presentation of the Savings Account-book, whether this is done by the holders themselves or by third parties in their names. The Annual Report of the Savings Bank on these operations gives the statistics of deposits effected by teachers on behalf of their pupils, by parents on behalf of their children, by masters on behalf of their workmen. Teachers, parents, workers, retain the account-books. According to the proposed law depositors will be able to dispose of the free balance of their account by payment-cheques or clearing-cheques. At present the holders of the account books cannot have recourse to the cheque, nor transfer any sum from their account to that of another on a simple demand addressed to the Savings Bank. Every transfer resolves itself into an act of cession which must be signified to the Bank by a judicial act or notified by a letter bearing the legalised signature of the ceder. The carrying out of these extra judicial formalities is evidently incompatible with what is required in a perfect organ of circulation. The end in view is in fact to place at the disposition of the greatest number of depositors a permanent intermediary which will enable them to economise time to the utmost, to reduce risk and expense and to save money. The postal administration by the extraordinary development of its invaluable public service in collecting bills and taking receipts, the importance of which has tripled in the last fifteen years, and by the aid which it has given to the Savings Bank in virtue of the Act of May 30^{th} 1879, in the collection of deposits and in payment of withdrawals, has realized one part of the operations which the projected institution includes.