New-York tribune., 1866-12-04

The banks TO be excluded are the following;
NEVER COMPLETED THEIR ORGANIZATION so AS TO COM
MENCR BUSINESS.
Tho First National Bank OF Lansing, Michigan.
The First National Bank Of Penn Yam, New.York
The Second National Bank Of Canton, Ohio
The Second National Bank Of 0ttumwa Iowa.
SUPERSEDED BY SUBSEQUENT ORGANIZATIONS WITH THE SAME
TITLES.
The First National Bank Of Norwich Connecticut
The First National Bank Of Utica New-York.
THE HANDS OF RECEIVERS.
The First National Bank of Attca, New-YOrk
The Venango National Bank Of Frasklin Pennsylvania
The Merchants National Bank OF Washington District oi
Columbia. a.
CLOSED AND CLOSING UNDER PROVISIONS OF SECTION AZ
OF THE ACT.
The First National Bank Of Columbia Missouri
The First National Bank of Carondeet Missouri.
The First National Bank Of Leonardsville. New York
The National Union Bank Of Rochester, New-forA
The Pittston National Of Pston Pennsylvania con
sodated with the First National Bank OF Pslon Pennsy
The Berkshire National Bank of Adams Massachusetts CON
sodated with the First National Bank Of Adams Massachus
The Fourth National Bank os Indianapolis Indiana
sodated with the Citizens National Bank Of indianapolis In
An abstract BY the quarterly returns made to hi;
office for the Quarters ending January Al E u, = u & = % ~
October l. st6 with detailed statement oi he cOduOh 0i
hank at the close Of the last quarter Is herewith SUD-
statement showing the names and compensation Of the
clerks and employees and the total expenses OF the bureau Tor
the fiscal year ending June 30 1866 Is also appended
Two banks which had given notice Of going into liquidation
under section the prior the date OF the last report
paid the Treasury OF the United states e amount
of their outstanding circulation In lawful money and taken mp
the bonds which they deposit with the Treasurer for the
security of such notes as follows. VIZ: - ....-
The First National Bank Of Columbia Missouri sls90
The First National Bank Of Carondee Missouri s2j5oO
Dne the past wear the First National Bank Of Leonards
vile New York and the National Union Bank OF Rochester
New.York have voluntarily given notice o gong INTO nqda
Ihe First National Bank Of Leonarlsyile has .-oo
Capital Of sJOWD BONDS deposited ,s0O
The National Union Bank Of Rochester hasa ,,-o,o
Capital OF .......... 100000 Bonds deposited sSlVU
The Mechont National Bank Of Washington and the We
ffB.- v1vaufa hlV inc
% redeem their circulating when presented for that pr
pose placed the hands Of receivers required by
banks we're fly Investigated aud reported by committee Of
the House Of Representatives during the last session oi Con
1he receiver OF the First National Bank Of Aca n Y has
brlelt bs lagrs nearly 10 close and dividend will De de.
cnr o te general creditors OF the bank about the st
January 6 Tic bonds deposited 70 secure It's circulating
notes namely Si 30 Of six per cent and S 500 OF per
bonds were sold public auction In the City Of Newfork on
the of October In accordance with the provisions
OF section currency The amount realized from
the sale Jl 5jC % Of this 90 900 in lawful money
deposited with the Treasurer of the United States io the
redemption Of the outstanding circulation Of the bank and gn
treasury according TO the provisions Of section 80 Of he act for
outstanding circulation redeemed to October was IS 80
Win these exceptions the national banks thfough9 the
United states seem 10 De i sound ana healthy CONDITION as
evidenced by their quarterly reports 10 this Once yerhed by
ceciu examinations m'ae sels appointed or W. PlI %
Tier total resources ON l' ls on Vctooer las Wele "
96J her liabilities 20 tho public for circulation and deposits
ROf 1880 leaving surplus OF s3O l54 Tor capital
and earnings which are likewise pledge Tor the payment oil all
/ debts 10 tle public
/
banss or the year ending Octobcr s66 has been as follows
Increase % Gi Ia % e,s l a n .ccr crcslo,io b St 80
Increase Of circulation issued Ol52 65e
This statement shows increase OF something than
period national bank, which have been converted from State
banks As,c retired fully hiy millions Of their State circulation
making the actual increase n the volume OF currency only about
10 correct uisapprehensioa which exists in the minds Of
many hl he entire Of national circulation Issued has
iSto m Ss aoant o. State bank Circulation at
II f1
e bank circulation OF the United Statos IN January le62
hundred aud eighty four millions Of dollars distributed
Northern and Western States .siHoooeo
Subsequent to this date no further returns were received from
| The southern SBtes.
Immediately following the suspension Of specie payments
tro expansion ~ bank note circulation which reached
in January ls3 ia the Northern states alone s2OQ0Oo
making an Increase ~ one yeur OF soOl Keie, yea OF All
Inability to redeem tle evident tendency Of the banks was to
still greater expansion No Trustworthy returns aIr than
uuy. l-J accessible but the prevailing tendcocy OF the
times toward imitation and The great temptation 10 banks TO
avail themselves OF the opportunity 70 put IN circulation very
large amounts Of their notes without any restraints IN the way
Of rdempons would favor the opinion that this was not the
highest point reached by the circuaHon OF State banks The
de giving aggregate 900 state bank circulation
which has been IN great part replaced by national currency
Without making amy inyidous comparisons no lngsues
say that the substitution OF currency based upon United
bonds beyond any contingency for the miscea
neous issues banks has done much toward sustaining
public confidence aud preventing dsrus and possible financial
disaster.
The law stands provides for the redemption Of ma
/
Detroit Milwaukee New Orleans Cincinnati Cleveland PITTS
burgh Baltimore Philadelphia Boston New'lork' Albany
Leaeuworh Francisco aud Washington An amendment
the law proposed during the last session Of Congress
requiring all national banks redeem either IN Boston New
York Philadelphia but postponed until the present ses
sion some system ot phcucal ana eeciVe redemp9hs
desirable FOR the preservation Of healthy currency and as
safeguard against redundancy Under the existing require
mcuts l0 banks ont OF lOi voluntarily redeem IN New ork
Boston aud Philadelphia These banks represent $40 10000
currency of which thcfourts redeemed In New York
The same arguments urged IN my9r OF requiring redemption
I'm these ure cities would carried 20 their logical conclusion,
establish the expedency Of requiring redempoa az one cen
tr point Every naiona baA IN me uhted states rs oOge1
by tie necessities OF business keep account IN YORK
city clearly showing the current Of trade and the tendency OF
money aud aordng evidence thai NewYork is the great
! commercial and financial center. .
the highest importance 20 the commercial and industrial inter
ests the country The notes may be Of uniform design and
step, In the hight direction will not compass the end IN view
unless the notes available Al par Tor the payment ot debts
! and settlement OF balances at the financial center
Banks OF issue necessity Of our financial system Feoog
nllca encouraged ana Po'eeeG W 'ne , , O m %
required make their issues conform TO The demands OF trade
The demands Of trade require currency that will pay debts at
the center trade II the banks do not furnish circulation
that will conform TO this standard their issues VIII be depre
cated and the loss will fall upon the business Of the country
The question is whether this shall be borne by the people
while tie banks reap the profit whether the banks shall per
form their whole duty by furnishing currency which shah be
plete the conditions necessary for uniform value ms
question OF growing importance and one that presses for
National banks in Boston NewYork and Philadelphia
cognze their obligations every demand in lawful money
the United whether be gold and silver legal
tender They obliged by law 10 receive IN payment
OF debts the notes every other National bank but they
compel their customers 10 receive the same notes for their
balances due from the banks aud here lies difficulty which
will subject the banks in those cities periodically 20 very great
embarrassment
The tendency OF money accumulate in these centers OF
adeexcept certain OF the year when needed
TO bring forward the products OF the Middle Western and
Southern Sates-is fact which cannot be questioned These
obliged TO receive oil that offered but cannot
An escape from this dilemma may be found IN either or
three different First the banks may be relieved Om the
obligation receive this currency In payment OF debts or
secondly National currency notes may be made legal tender
from the bank TO its customers else, thirdly National cur
rency may be kept ps by redemption at the great ceners of