The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-07
FINANCIAL AND COMMERC GAL.
THURSDAY, Jan. 6-6 p. NJ.

| THURSDAY, jan 6-6PM
The report of the Bank Superintendent which we pub
| lsh in another column will obtain as it deserves very
careful and general perusa Some of the views OF the
| Superintendent may not command universal as
sent. 1t is not easy to perceive, for instance
why " the multiplicity Of small banks was one Of
the causes of the revuson," as the report states
so far as recollection goes the large banks were
far more directly instrumental bringing about the
revulson than the smaller ones whose influence was ne
cessarly ess and whose policy was naturally dictated
by their powerful competitors. But this is small
point, and may well be overlooked among the many vau-
able suggestions of the report. Especially valuable are
the common sense views regarding the currency and
bank suspension and the explosion of the old aacy that
suspension of specie payments sure TO be followed by
an expansion of bank paper. The report proves
what the experience Of the past year had already shown
that under banking law senterest is an ample qua
rantee for the safety of the banks between
the views Of the Superintendent the subject Of
State currency, and the crude theories Of the Financial
Committee, under whose auspices given under
stand that bullion bank II be started in this
city full Of instruction The changes which the super
ntendent recommends in the banking laws Of the State
Will be found the close of his report They are gene.
rally Of minor importance and do touch the general
principle Of the free banking system. Nothing said
with regard TO the adoption Of any provisions to guard
against undue bank expansions and future revusons
The superintendent doubt wsely-seems to consider
that the best for the bankers Is
the " touchstone Of their profit and loss"
We make room for the following figures
The total amount Of securities held by this department on
the Both Of September, 1857, was $50 2D3 e32 OF
Amount held on the Both Of September
&c, 1893 09S SO
Decrease Of securities during the fiscal
year s3slO,533 "a
The total amount OF circulation issued free
banks and outstanding Sept 3d. 1851 s28 400 500 90
The total amount Of circulation ssued to free
banks and outstanding Sept 80 1885, "a SOB 1914 90
Decrease 49, 1923 90
reduction OF circulation issued TO the in
corporated banks took place during the
same time OF. 1,s10414 90
Making the total amount of reduction dur.
ing tDe year S5, 1916, I42 90
The net increase Of banking capital during year was
So 4s8 s9l of which only $500 900 by the formation
Of institutions the remainder being increase of in
sttutons previously in existence. while fourteen banks
have ceased doing business during the year the affairs of
which either being closed up by their officers or r
ceivers.
The feature Of the stock market to-day decline in
state securities The necessities Of the State Of Missouri
seem to presage fresh issues Of bonds and the six per
Genus now on the market accordingly declined u 10 n per
cent with large sales at the decline Other State
tics likewise showed declining tendency. In the specua
i've share Market on the other hand pretty general
tnough slight advance was brought about mainly by the