Realising that the success of a bank depends far more upon the confidence with which it inspires the public than upon its organic charter, Signor Pellegrini’s Government, together with those that followed it, took care to place at the head of the _Banco del Nacion_ only men who were capable, by their good judgment, their technical competence in banking business, their social position, and their knowledge of the business world, of giving prestige to the establishment, and surrounding it with the atmosphere of respect and confidence which was necessary to its success. Thus in spite of its official origin the bank was able to find support in public opinion, and to render important services to industry and commerce. A study of the accounts of this establishment, during the years 1904-1908, reveals a steady and prosperous progress, which has incontestably placed the Bank of the Nation at the head of all similar institutions. A glance at the following table will prove this. It contains the balances of the three principal accounts, upon the 31st of December of the five years from 1904 to 1908 inclusive. Year. Bills in Hand. Overdrafts in Deposits. Current Accounts. 1904 £8,486,326 £14,384 £12,561,969 1905 11,842,611 2,589,167 15,501,340 1906 13,364,585 1,907,818 15,163,974 1907 16,502,621 2,731,314 18,008,501 1908 19,049,798 2,897,008 20,713,375 We see from these figures that in five years the business done has increased by more than 10-1/2 millions of pounds; the overdrafts in current accounts by nearly £300,000 (in four years, 1905-1908), and the deposits by more than £8,000,000. The Bank of the Nation has one hundred and ten branch establishments scattered all over the Argentine, and their number is continually increasing. Here are the figures relating to the three principal accounts in these branch establishments during the same period:—— Year. Bills in Hand. Overdrafts on Deposits. Current Accounts. 1904 £5,111,481 £3,744 £5,187,982 1905 6,987,847 349,427 6,842,559 1906 8,557,900 570,350 7,707,001 1907 9,848,713 860,899 8,433,003 1908 11,196,690 744,119 10,210,650 We find here, among the branch establishments, an increase of over £6,000,000 in the bills in hand; nearly £740,000 in the overdrafts on current accounts; and over £5,000,000 on the deposits.