The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-05
In ccmmunicationg the annual report Of banks
to CoDgiess, tue Secretary Of the Treasury sayJ:-
TREASURY DEPARTMENT, Feb 81, 1855.

In communications the annual report Of banks
to Congress, sde Secretary Of the Treasury sayJ:-
TREASURY DEPARTMENT, Feb. 81, 1856.
SIR IL have the honor to submit report on this
dition OF the banks throughout the Union, In comp
with the following resolution Of the House Of
Representatives, adopted July 10, 1892 -
directed to lay before the House, the and each
successive session OF Congress- copies OF such state
counts specie deposes and condition Of the different
State banks and banking companies as may have been
communicated to the legislatures governors or other
public and where such Information cannot be obtained
such other authentic information as win best supply
In conformity with this resolution, reports on the
condition Of the banks were made in 1885, and in essh
subsequent. year up to 1910. change OF adrnnistra
ton then took place. and the resolution was treated as
dead letter till Mr. Polk became President. The making
Of the reports then regularly resumed and the
counts OF the back years brought up since then tho
reports have been regularly made except during part
Of the time Of Mr. Fillmore's administration
Taken in their series, these reports supply facts
which Indispensable to correct under stand of
the state OF the country and of the many pecuniry
endorsements OF the people.
These reports differ In one important respect from
all the other annual reports made by the dep rtnent
by any other department OF the general
The materials for all the other reports Supplied by
fsers Of the general and at and accord
to forms prescribed BY the heads OF the department.
Treasury Department Is entirely dependen. the
esy Of the officers Of the State and OF the
To letters from this department soliciting such intor
nation as will enable II TO comply with the resolution
OF Congress- the officers OF the State OF
the State banks have almost every instance replied
with great courtesy though not always with the
promp'itude that IL desirable III the returns ads
early this department would make every effort
have them arranged and published at the earliest day
possible which would greatly increase their value in
the eyes Of the merchants and the bankers. To the
political economist and the statesman the delay Is not
10 important as IL is from the reports OF the various
years taken in connection that they make their In ue
tions.
These reports would be greatly increased in vala. II
the banks would all make their reports at and the
timesay the close Of business hours the last
business day in each year AT present. the banks in the
from April 10 December, and In Cities as for
ample in Philadelphia, though they make their returns
in one weeL they 90 not make them the same day OF
the week. Where this usage psevas the same parcels
OF specie may figure successfully in the accounts of DIFF
ferent banks.
In Gr,at Britain OF 50 much Importance Is lno Wedge
OF the fluctuations OF paper currency regarded that
weekly accounts published OF the condition Of the
Bank OF England and quarter yearly statements Of the
circulation OF all the banks OF Issue In the United King
In the United States owing to the issue Of bank notes
of small denomina owing 10 the rapid Development
Of our natural resources and owing 10 other causes
1hs fluctuations OF paper money much more sudden
much more violent, aud much more FIRE iuent than in
Great Britain; yet We hav. means OF ascertain
ing exactly the range Of those fluctuations because
of all the banks on any one day in the year
This y subject over which the general government
has no control but II TO be hoped that II viii attract
the attention Of the state lessatures some OF them
require qusFtery statements from the banks and
TIE Nev fork even require 70 make weekly
statements Of their condition the legislature Of each
State would require It's banks make statements OF
their condition ~ thu close sf business hours the last
business daY 10 the months Of March, June September
and December or, What would be still better at the
cosc Of business hours the last business day Of each
month (as 10 done by the legislature OF Louisiana
the department. light by . coocstion OF the different
reports presen. such views Of the fluctuations OF our
paper currency as would Be- Of great value to business
men In every department OF life.
For obvious such uniform returns would be OF
vast Importance 70 banks conducted on proper prnc
pies.
The present report neluees returns from 3oT banks
and branches with reported capital Of t332 ILL., ass
showing increase during the year OF ninety nine In
The number Of banks and Of $50 so2 2o In the amount
of capital paid In. Bot, though there has been In.
In The number Of banks ana In the capital pa in
their specie has been reduced between ave sir mil
lions from $50 400 $50 70 s53, 6t6 and their cir
culation nearly eighteen millions, from 1904 6se 2Oi
10 s1se asa 90. n the banks had ali made their re.
<.rnA " tAs iss aAy q yssuAry 1884 and We LIST day