Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1851-05-30
Front the N. q. Commercial Bulletin.
Ranks In the United States.

view of the entire fiscal concerns of the country
showing the average number Of banks at dlHerent
periods with relative scale OF expansion or conrac
ton The figures may be relied upon as they are
derived from official Of late years. IL mas
been the custom of the Treasury Department 10 en-
brace in its reports the accounts OF all the oaho ~
the country. The general table for January 1901
comprehended every incorporated bank IN the UnloE'
axcent one small hank in the interior OF PennsylVa-
MIA The statements, therefore, are IN every way
reliable. as thew are based upon actual returns
We have. as far as we have been able, epltomlsed
these various returns, condensed them IN summary
os succinct as possible to make IL sumclehtly com
nrobans;ve for practical purposes. Beginning with
the New England States, it is discovered, that with
the progress of trade and Improvement and increase
of n6nuIation there has been an increase OF banks
and banking capital within the last three years. In
which period the returns of all the banks are en-
braced In the six New Eng land States, at the close
of the wear 1848 there were $50 banks, with an az
gregate capital of 463, 900 at the close OF the
year 1850, there 81 banks, with a capital OF
$50, 1893 1874. Since that period there has been ad-
dtonal banking capital allowed by the Legislature
of Massachusetts, to the amount OF S5,935,OOO, and
how much more in the other Eastern States we are
not vet apprised The circulation of the above banks
for the period stated has expanded from $50 6O4
to $50 307, 92l. In each of these banks there has
been large increase of the deposits while there has
not been corresponding increase OF specie
The banks of New York had increased from l79
to 1877 and their banking capital from S44, $780, 52
to 88,618762. To this must be added $7:OOO'0oo
more of banking capital granted by the Legislature,
which has just ad ourned. The circulation has in
creased from 1913 100000 in round numbers, to $780,
100000 the specie, from seven to ten millions; their
deposits have swollen immensely, from $50 100000
to $50 100000.
In Pennsylvania there has been but an increase of
one in the number of banks, also but an addition
of one million to the banking capital, which is now
S17700,0O0. There has been an expansion in loans
and discounts of about nine millions, and an increase
Ia H. .oxoIo ho1f
The paper currency of the State stands SILL
10000 against Sl0,000,000 in 1913; the specie a
bout the same, four millions. The deposits have in
creased from Sl2, 100000 to S15,700OOO. In Penn
syvania the banks prohibited issuing notes of a
less denomination than five dollars to this fact IS
ascrbed the fair relative proportion of specie and
circulation.
From Delaware there have been no returns, with
the exception of the last, in 1850. Comparisons,
therefore, cannot be made. The banking capital is
900; circulation, 1888 00O and specie $780,
900.
In New Jersey there are 26 banks, with capital
of $3.750,000, about the same it was in l840, with
out any material change in the items of circulation
and specie--the former being S3,5OO,00O, against
$4,000 900 in 1913. The specie fund is 100000.
The returns for Maryland for 1851, the first
complete ones that have ever been received. There
has been moderate increase in the circulating me-
dunn, for the last three years There are % banks,
with capital of 1913 900; circulation $780,
600 specie, 50 100000 deposits, $5,800000.
In Virginia. the increase of the paper currency has
been greater--from $500, 900 to $l0,250, 00O-but
without any corresponding increase of specie, which
fund is about So 000-the deposits are "a, 700,-
900. The banking capital of Virginia 49, 800, 900
North Carolina has increased her banking capital
from So, 100000 to S7.79O,OOO her paper medium
from $2,959,000 to S4,250.000; while she has only
increased her specie from 5000 900 to 81 GAS 900
In South Carolina the bank circulation has more
than doubled the increase being from S5237 900 in
January l849 to 81, 1000 in January 1851; while
the specie has increased from $l2l6,O0O to S2,2l8,
900. There twelve banks in South Carolina,
with capital of $13,2l3,0 900.
In GeOrg ia the increase in paper medium has been
still more striking the bank circulation having more
than doubled in single year. In October l849 the
bank circulation 81, ll8419 upon specie basis
of $1547004; in December 1850, the circulation
was S9,S98,000, with S22l2000 specie. There has
from 81 100000 to 81, 100000 In Georgia there
eleven banks, with capital of $13 100000. She
is little in advance of South Carolina in capital but
her liabilities much less A new bank with a
capital of 100000, has been lately organized in
Savannah
This expansion in bank note circulation in the
Southern States has been occasioned in part by the
rise in the prices of Cotton and the increase of trade
produced by the extension of railroads. and the con
sequent general prosperity of the country
In Alabama the paper medium has than
doubled in two years; in January, lS49 the eircula
ton in that State was 5 080.000 in January 1851
it was $3,570000, the specie increasing at the
time from $618,000 to S1,900,000 The bank capital
of Alabama is 81, 100000. To this must be added
million more, the capital of a new bank.
The bank circulation in Tennessee, has nearly
doubedin one year. and more than doubled in two the
issue now is near 81 100000. The bank capital is
S6,88 O,OO0-spece 81, 458, 900.
Kentucky has increased her issues within the las
two years. something million and quarter
1t is now 1900 0O0-with supply of So 800 900 il
specie, her banking capital is S7,540,O00 In Ken
lucky, Ell ght new banks have been established, with
an aggregate capital of S2.500,000
In Missouri the bank note circulation has beer
near stationary for the last three years it is now So
$4,000, with aspecie supply ofS1 100000 In Nilsson
ri banks restricted issuing notes ofa less denomi
nation than ten dollars.
Indiana and Ohio, there has been in the last three
years, but small variation, comparatively speaking
in the amount of paper medium. Ever since Novem
ber 1874 the bank circulation of Indiana has been
an everage, about So, 4OO,0 900. Ohio did not re
rapidly from the disastrous effect of the grea
bank CONFUSION. Her paper currency, which a
mounted to about 50, 100000, in January, 1885, wa
by October 1872 reduced to less than two millions
After that it increased at first gradually afterward
more rapidly, so that by May, 1847, it reached thu
increase since, but not an mmoderate one ThI
average circulation since November, 1847 has beer
about S9,340, 900. There has been an addition O
100000 bank capital granted by the Legislature o
Ohio recently.
The banking operations of Michigan are consider
able; the capital is only S764,000, and the paper
circulation but S200,000
We have reserved the statement of the condition
he TOuic for bo 10 - A.