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Sentjur Pri Celju Travel on The Bank started to develop an extensive national branch network at this time, taking the place of many of the small regional banks that had collapsed in 1848. By 1900, the Bank had representation in 411 towns, including 120 full branches, and this regional spread also marked an extension of the bank’s issuing powers. Economist Glyn Davies, among others, has suggested that Owing to its very extensive network of branches and offices, [French] commercial banks have not developed as rigorously as their British or German counterparts. Margaret G. Myers notes that this period saw the origins of the entrenched rivalry between the larger, joint-stock commercial banks in France and the Bank of France, and observes that such competition was enhanced by the fact that larger commercial banks (unlike many private and provincial banks) had little influence on the governance of the Bank of France. Nevertheless, the scope and scale of operations of the Bank were limited compared with other central banks. Before World War I, the Bank was relatively uninvolved in currency markets or in lending money abroad, and the chief task of the bank was the maintenance of a sense of macroeconomic stability, often through rediscounting for other banks, and through lending money to the French state in return for its issuing privileges. Sentjur Pri Celju Travel 2016.