New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-01-06

In boros and mortgages there las been decrease
dzriug the fiscal year q s9ietj A. They are 10 ona
has also been deccase Of New OH state stock during
Gle period Of 249 400; Of Illinois stock. e ST.
and Increase in United States stock Of s2C4&lOl
IKCORpOEATED BANKS ASD DASR FUND.
The charters o. all the incorporated banks of the
e.nte (gth the exception Of he Bank OF Tue Nannnt
Can Company and tie Eank Of the Ne".l ork Dry DOCK
Compari which aIe unlimited VIII oxi ne on Tue Irst
OF snu:Ty, LEGO TIE Rochester CIty Hank suTIen-
GeIed its charter IN October last by vote ~ It's stock
holders ia accordance with lecHlit4ve permission
rrn,ed in Chapter TO- Laws Of 1904 The six remaining
banks whose charters will expire as before stated have
cap,gi Of g $4,000, and eIe authorized 70 circulate
A. rs co. 1bns with TIE exception Of tie two inst
taioDs above named the year les viii wi,hess The ex.
tinctOn OF tic system OF lnco1PO rted banking within
fhis state. When the contributions t0 the bank funJ
due December 81 1903 shall have been p'id, there viii
remain balance to the credit Of thai fund.- after pro-
vding .Jr al outstanding stock issued ON lie behalf Of
abeu, $4,000. The fu1d thus nccumrl ted was dc
aligned 10 secuie the redemption Of The notes of insO
yent safety fund banks But the oyerssue II several
trsovent Institutions and the failure Of others.
kAasted the contributions on hand. and In0rtgaged
ose future such extent that the fund ceased
% b. regarded means OF redcmpton and con.
s~o ueny the outstanding issues OF tie Lewis Comfy
Bank YATES County Bank. and Bank Of Orleans have
bsen left the hands OF the community save so far
they have been absorbed by the receivers appointed 10
administer upon the effects Of the dcfunct institutions
According 10 The latest returns there would b. be
still outstanding III the hanOs OF receivers, SlOo Ui3
o. the notes II the aforesaid banks. AS considerable
period has elapsed since their failure very little OF this
probably been destroyed view Of its regarded worth
yeaness Whether the fund Oh hand shall Do applied 10
- redemption Of notes. and II So IN what order, or
what disposition Is to be made OF eventual should be
sDdiosted either by legislative Judicial action.
adjustment Of the question in some authoritative form
a,ems In every way desirable
q the Currency, made to Congress at the
pTening OF the present session, that ode
tbs State under the act Of Congress to provide
pstiOI al currency with an aggregate capital Of
Go $50 l75 o. and having circulation Of $50
OF this number than nine entbs are original
ganizatons to this extent addition TO the bank
Ing capital Of and institutions doing business within,
sbe State Whether required y tue necessities Of the
community. or whether the capital can be pro1t.b bly,
employed in this branch Of bnsines time and experience
alone determine Tie system has IN some measure
She attraction Of novelty and is buoyed up by the
gratuitous bostoyment VI currency the receipt aud
payment OF thsse notes in all governmental OleTations
and the prospect Of deposits by the collectors and dis
barsers OF public revenue Few ~ take coguzance
Of the fact that II comes into existence Of
pubbc expenditure such as has been witnessed IN
kbis and with single exception, in no other cOuntry
chat il 1oated npon An ocean OF irredeemabe paper
whose ebb and flow human intellect regulate or
whose and qucksands no intelligence fully
determine. Without waiting for the return Of the
business Of the country 10 its normal con
rev ulson which followed the war OF lel2-l5.
and which has crowned every inOrdnate ex.
Iansion Il paper rCdouT people having arrived at
The conclusion that the Congressional system of bank
sing promises profitable results rush into II with ell the
In petuOsty Inherent In our national cha acter As
paper currency gyste 1t undoubtedly possesses great
Advantage over the unsecured circulation which hiss
ueyaied in Other States. It's essential features are
transcripts from the bank ing laws OF New YORK lied
90 wider theater Of operations ard doing Tor other
States what experience has wisely suggested
FOR this But IN far as 1t stimulates the creaJOn Of
banks Of issue and increases the already exaggerated
amount Of currency lis effect is 10 be deprecated 1t Is
enough however for present purpose 10 show that
The syste adopted BY Congress has taken strong 10
sDon TIC public MUD and bids lar " become The ssted