The New York herald., 1845-10-20


Partly estmsted.
These returns show the condition Of the banks far
as these two departments and
ssues-at different periods within the past ten years
with all the fluctuations and changes that have taken
place in that time, within which the most extravagant
speculations have taken place and complete
luton experienced in commercial affairs than be-
fore experienced in any country. The bank movement
Of ls45 will compare favorably with that Of 1880
than with any other PERIOD before since that time
The internal commerce of the country has, since $780,
more than doubled the prosperity Of all classes at this
moment is in reality much greater than before in
the history of the country, which in great degree
be attributed to the general contraction Of the various
banking systems of the States and to the limited issues
Of paper money compared with previous years The ag-
gregate bank for eight years has been fol-
lows
LoAss AND CIRCULATION THE BANKS UNITED
STATES FoR EIGHT YEARs 1,,,
1885 sssscssii seslosa1 s.ss sss
is. i!sla5 sso s.l. !lsssszis III as, ssS
1855 ssassSi3 s, s5Ssss s ss. sssssSs % sSsssi1
The most expanded movement of the banks of this
country in 1897 the year of the suspension of spe
Gle payments when the line Of discounts just about
double what it is at present and the issue opaper nearly
two for one.
would be difficult to find in the commercial history
SO precisely similar that of 1914 and s45 with that of
1880 and 81 The banking capital at present is much
larger than it was in $780, and the bank move
ment about twenty-five per cent greater but the
position OF other important matters regulating
cal affairs corresponds more perfectly with the position
OF things in 1880 This Is the third year Of high tariff,
80 was 1885, at that time there was a surplus revenue
about large the present one its removal from the
United States Bank was in contemplation and is now
also in contemplation to remove the deposi the
present repositories. The reduction ofthe arfwas aga-
ted then as it Is now and il is barely possible the
results may follow these were at that time
experienced, that the subTreasury may be adopted
and the deposits removed and the tariff reduced to re.
venue Standard but have doubts about them both
The principal Of the immense specuatons every
species of property that followed Of the depo.
sits from the United States Bank to the State banks
the rapid and enormous expansion in the Of
all the banks the country those that had 60
vernment deposits and those that had not There was
simultaneous and general expansion Of credits and paper
issues and Il rapid that in Eve years the bank
loans advanced from two hundred millions to five hun
dred Millions and the issues Of paper from sixty millions
TO hundred and ty This imitation Of credits on the
part Of the banks produced corresponding imitation
among individuals, and the extent which promises to
poy were manufactured by corporate companies of all
kinds, and by individuals hardly be gined The
state Of things that existed in 1896 and the early part of
1887 too artificial too much expanded to last but
revulson came than expected-in fact many
never dreamed OF any reaction-and the commercial
classes were completely prostrated A revival took
place in 1899, which was followed In ls4l by another
relapse which proved fatal to many that survived the
first revolution. From is4l 1874 the recovery was
very slow, but and upon solid basis All classes
gradually gaining strength and the experience OF
tho previous ten years appeared to have had very bene.
hcal influence upon the movements of ALL but within tho
past avery great and nnsvoable change has been
visible in the commercial world The bank returns show
increase Of hiyhree millions Of dollars since s44
in the amount Of loans and increase of thirteen mil
lions in paper issues This expansion has been confined
almost entirely to the banks Of our large cities the
movement not having yet reached the banks Of the ne-
rior will soon spread The mania 10 contagious and
cannot expect to be long confined to the ctybanks
Az soon as il becomes general among the banks ndiy
duais will become infected and diseased when s pro.
gNm viii bs exceedingly rapid,