New-York daily tribune., 1856-01-17

railroad interests in the State. Like the Banking De-
partment, this Board u maiBtsned by the different
corporations s appointed TO supervise, ana dose Dos
impose any burdeEs upon the state.
fbe Annual Report Of the Commissioners VIII coon
be laid before you, containing full details of the orsi-
ness Of their department, and much valuable inora-
tio, trast YOU viii give such consideration 10 the
Recommendations and suggestions they vii submit, ae
Their importance demands.
BANKS AND CURRENCY.
For the detas of the condition Of the Banks Of the
State refer you to the Annual Report Of the supern
tendent Of the Banking Department. From this Il viii
appear that during the last sca year sixteen banking
associations and six individual bankers have COM
mepced business under the provisions Of the General
Banking law deposited securiti0 and received circu-
laton. OF such associations eight were organized BY
the shareholder Of expiring SafetyFund Banks under
the provisions Of chapter 3l3, Of the laws OF 1872
During the same period four banking associations
and five individual bankers have given notice OF thelr
intention 10 discontinue business and have withdrawn
portion Of their securities upon the surrender OF an
equal amount Of their circulating notes.
The whole amount Of circulating notes Esued 20
banking associations and individual bankers and out
standing on the 3Cth Of September, 1855, was
s24 49, OOl for ths redemption Of which there were
then held by the Superintendent securities required
by law amounting 10 the sum Of s25,5e0, sis. The
amount of ureturned circulating notes issued 10
banks incorporated by special act, and whose
charters have not expired, Was, on the Joth day OF
September last, sll 900 235. At the same date the
aggIe gate amount Of the outstanding circulation Of
banks Incorporated by special act whose charters had
previously thereto expired, was s5, 43l ,3s6.
On the 3Oth day Of September 1855, there vac bal
spee Of money in the Treasury belonging to the Bank
Fund Of sil6l "a. OF contributions due from sew
eral expired Safety y-Fund Banks 90, 125 y; and
Bonds and Mortgages held on account Of the fund, the
rum Of sl3,e63 80, amounting in all TO the sum Of
si3o 0ol o3 beside the balance Of unavailable assets
of the City Bank Of Buffalo The total amount ofout-
standing and unredcemed Bank Fund Stock, issued OF
the credit Of the Bank Fund 10 meet the liabilities OF
the fund on account of the debts OF broken Safety
Fund Banks was on the 30th of September last s424,
gel 30; of which amount ss3.jjO natures and Is
deernabe on the ld day Of February next, AMI will
be promptly paid out Of The cash IN the Treasury be-
longing to the fund
If no failures occur in the existing Safety Fund
Banks it i. Anticipated that the fund, with the future
coutril utons 10 BE- made to it, will be sufficient 10
meet all such stock thus charged upon the credit Of
the fund.
the public and Justly enjoy the increased confidence
Of the people. The high premiums on the stocks taken
as O security for their circulating notes and rgid
scrutiny into mortgages when taken ns part OF such
security, serve in great measure 10 check banking
except az a legitimate business. Our Banks, with
few exceptions are local institutions, conning their
business, the law contenpiates, to their neigh
borhoods.
available class Of securities II basis for currency
than those now received fearing that with greater u
ducements, purely circulating banks would again
sprpp into existence 10 the detrment Of legitimate in
fiituii0ns and 20 the peril of our Free Banking system
and the danger of the public interests.
The frequent and sudden expansions and cOntracons
of the currency in the City Of NewYor occasion scri
Gus embarrassment and onerous sacrifices. In this
manner and in the absence Of any adequate monetary
neccssty the various business interests Of
cia metropolis are dcranged and crippled. This evil
If supposed 10 arise from the employment by banks Of
large means of most Of their capital in "ca loans
10 brokers and capitalists, upon stock securities. This
al hs1,kn nO
manufactures drives the merchant and mechanic into
"the street," where they are compelled TO pay FROM
one to two per cent d month for money, which the
favored borrower obtains "on call at the rate OF six
Nor cent pcr annum. II II suggested that law
.trsinnp banks from making loans on the hypotbeca
,on Of stocks beyond reasonable percentage of their
capital wolld by compelling there institutions to
r%umc their gitilnatc functions, place banking laci-
ties within the reach of the industrial and producing
classes, and thereby promote the general welfare.
SCHOOLS.
The amount Of School moneys apportioned by the
Superintendent of Public Instruction for the current
wear is 81 10000; of which $4,000 are derived from
general tax sl65, 900 from the income OF the United
states DEPOSIT Fund and si5 900 from the income of
the Common School Fund.
The amount reported ~ having been expended for
the payment of teachers wages Tor the year 1854 was
40 1ol All ~. for Libraries, s55,2l6 81; for school,
louse sites school-houscs and fuel es63 $50 33toa,
80 22O 6ls Os. The amounts OF money raised by tax IN
those districts where free schools maintained, and
the amounts raised by rate-bill, not separately
stated but Is certain that the former considerably
prcpOnd,r rate.
me number Of school districts reported is ll7is.
The number of children of suitable age to draw pub
lie money il ,213 9s1. There have been 900.Jj2 III
attendance upon the District schools-in academies
nnder the super, ision of the Regents of the Uni
vtrsiy 3s .3lin colored schools, 5,243-and 53,1t4
in unincorporated private schools; in all, 9gs,2.3-
leaving 225,s54 not III attendance CT any place OF IN
rtTuction, We except Inc students ID the seNciai
colleges.
The non-atiendance may therefore be set down at
one fifth Ii is likely, however, that If the age of sin
were substituted for four yeG, a. the minimum period,
thi. proportion would be greatly reduced
Tie number of volumes III the District hbranes Is
reported at l,lO5,370
The number Of school-bouses is ll,O2s. OF which
1856 are framed buildings, us OF bncs, so oi stone,
aud 3sl OF LOGS.
Defects in our Pubic School policy, and the legis
latou necessary TO remedy them, will demand your
earnest attention. modification, that shall secure
greater economy OF the public treasure and exten
sion Of the system TO ALL THE cHILpRss oF Thy
STATE seems to me obviously necessary. Particular
attention should be directed TO the academies now de-
irving a revenue from the Literature Fund. L would
suggest that Board of Commissioners be appointed
10 visit them, examine their management ascertain to
What extent they have complied with the regulations
prescribed by the Board OF Regents, and report the
results Of the investigation to the Legislature q; IT'D
next session.
| capnot regard our School system as complete.
until il shall extend free academcal instruction to
every child residing in the state desrous of its
benefits.
This can be done by placing all the schools in each
town under the control Of Board Of Education,
charged with the duty Of general superinendcnce, Of
selecting suitable text and library books supplying
proper apparatus, grading the schools aud establishing
in each town Acade Departments or High SCHOOLS
whenever majority Of the inhabitants shall deem il
proper; or the Boards of Education in adjacent towns
may combine TO secure this result, where the territory
is limited and the means Of a single town are made
qus,e to the purpose. This policy would remove the