The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1866-12-19
The COmptrOlIera and Agricultural
Commissioner.

We omitted the other day, in reviewing
the reports accompanying the Presidents
Message, to mention the Report of the Comp
troller of the Currency andthe Commissioner
on Agriculture. The report of the Comp
troller shows there are now in operation
I,647 National Banks throughout the United
States, with paid capital OF S4l7 ,245, l24 W,
and bonds ON deposit amounting to $685.
467 700 The aggregate circulation OF the
same amounts to 1922, 674,75 Sixteen banks
not included in the above have failed, or are
closing under the provisions of section AZ of
the act. With these exceptions, the National
Banks, throughout the country are IN
sound and healthy condition. Their total
resources on October l, 1866, were 81 ,o25,-
498 $780, their liabilities to the public for
circulation and deposits were 81 ,024, 274,2 06;
a surplus of $5O1 POI ,574 for capital and
earnings. The report shows an increase in
the circulation of National currency of over
one hundred millions of dollars, hut when
we consider that during the same period
State banks converted into National ones
have withdrawn S50,000000, the actual in
crease is reduced to something like S5O,00O,-
900. The Comptroller draws attention to
the non participation of the Southern States
in the advantages of the National banking
act, and consequent loss they sustain, and
thinks provision should be made for their
benefit, and not to allow foreign capital to
control the products of those States, as it
now does. He discusses the measures of re-
lief which have been suggested for supplying
the Southern States with banking facilities,
and meets the objections offered, and thinks
that good could be accomplished by an issue
of twenty-five millions, at the rate of one or
two millions per month, which would pToba-
bly, meet all the wants of the States for two
years to come, while the reduction of legal
tenders at the rate of four millions per
month as provided by law, will keep the
amount of currency in circulation always
within proper bounds. He makes quite a
number of recommendations of the special
interest here, and then closes with a fine eu-
logy on the banking system.
Commissioner Newton, of the Agricultural
Bureau, gives some interesting facts touch
ing the workings of his department, The
returns Ol lie SJdUlSllCdl ulNlSlOu u UuIS ue-
partment have hitherto been confined to
what we call the Northern States" Here
after the hayward brethren of the South
will be included. In 1865 the wheat crop
was estimated at las, 100000 bushels, and
the present estimate is still further reduced
to 143,000,000. Returns from the eleven
Southern States, so far as received, warrant
an estimate of 100000 for this section.
The corn crop is moderately large but def
cient in quality, and may be estimated at
$50 009 bushels, about 100000 more
than in 1859. In some Southern States
small yield is reported, while in Texas the
quantity is more than the average. In the
Northwestern States the injury from early
frosts was severe. The hay crop, slightly
deficient in some sections, is large in others,
and the estimated total product of oats is
sixty per cent. greater than in 1889. The
products of gardens and the yield Of pOta-
toes and other roots are also in excess of
former years The cotton crop is put down
at 100000 bales of 400 pounds each-a very
extravagant estimate, and one in which Mr..
Newton will find himself disappointed.