Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1867-11-08

from their eiraulaElun. What have the
banks 20 Offset to this seeming guhgidw2
Fir5t. They pay to the National Ireas-
ury one per cent. per annum, (one-hatf
! of one per cent. Eeui-11uuallV3 ON the
whole annonat OF their circUlatiOD-say
IS, ,O09. 900.
Second. They pay to the National
/ Treasury one-half Of one per cent. per
anuum on the average aEaouut Of their
4 deposits, which, aa The deposits last year
/ averaged S571, ,OO8y 900, amount Of to 81
( $50, COO
their capital stock, over and above that
/ invested IN Government bonds which
I tax last year amounted 10 500, 900.
(The above three items are required BY
/ section Al OF the amended National Cur
| rency Aet.)
Fourth. They pay tax Of one-half OF
one per cent. per auuun3 on Inc net
amount OF dividends and amount car
ried TO surplus fund, which tax for the
1 past year amounted 10 $500, GOO
FI1fh. They pay license tax Of two
/ dollars on every one thousand dollars
l Bank capital us last reported Is S424, :
/ OOO. 600, aud the license tax on this IS
! SS4S, 600.
/ fTahe i've sums above named, amount
4 ing to SO, ,403, 600, are paid by the Banks
! 1fTertIv into the National Treasury I:
"
charged against the banks as profits on
/ their circulation, by two millions eight
/ hundred and foTty-three thousand dol
& lars-S2, 643, ,OOO.)
/ lSIzfh. In addition to the above items
OF National taxation, the banks paid
I during the past fiscal year State and
I local taxation, as shown by returns to
4 the ComPtroller's department, amount
I ing to about eight millions Of dollars
I s, 200, 600.
Thus [ have shown that in the items
oil State and National taxation these
I National Banks are annually paying
4 back to the people nearly eleven mil
4 lion dollars more than they annually
receive in the way Of interest on their
/ circulation.
The public viii notice that mono Of
! these facts have been even referred 20
/ by those who have or late undertaken
to discredit the National Banking sys-
tem-
/ 1t ia true that the National Bank,
4 notes are all printed ab the expense Of
/ the Government, for the double purpose
I Of securing uniformity and of prevent
ing Over-issues but TO compensate for
( this have purposely left out Of the
Z a b0ve list many items which might
I otherwise have added materially to the
\ aggregate paic by the Banks to the Gov
| ernment for the privilege of their ex-
e istence. One Of the most i'm prortant OF
: these items which / have omitted is the
3 nrafuitOus service Of the Banks in re-
4 ceiving, trans mitting and disbursing
I the Government revenues. The depOs-
& itorv Banks have during the past fiscal
year, transferred TO the Treasury, from
all parts Of the country, the vast sum OF
/ $3q3. .620, ,6S4, ,S2-at least ninety per cent. Of
1 it without any cost to the Government
Il Had this work not been performed by
L depository Banks, an immense expend-
1 iture would have been enta1ied upon
] the revenue department Tor additional
4 clerk hire. vaults, safes, express charges
! tEc &c. Besides Lhn- aaasze5 there IS tne
/ itena of revenue stamps, consumed by
I the banks. ] consider these two items
/ as alone fully eqnaL to the cost of en-
/ craving and printing the National Bank
/ currency.
/ For the purpose Of showing at a glance
i the result of the above statements the
I 70 lowing recspirulation is made. In
making mp the account between the
l Banks and the Government the Banks
/ stand credited with the followiDg=
! ]. Six per cent. interest on sI14OO0.-
/ O00, in legal tenders held by the
banks as a reserve ior deposits. $780, iO00-
1 z. six per cent interest on S60, ,000s000-
I held as reserve for circulation 3.6O0, 900.
ss06 5S o55 i cireuiation - On 100000.
Z 4. one half Of one per cent per an
P0si5s' P9 'as on s.'iOOo'ooo. 81 a ASSOC.
/ 3. One half OF one per cent. per an
mum tax on amount Of capital OF
government Bonds .......- 100000.
6. One half OF one per cent per an
mum tax an dividends and
amount placed to surplus funds
of banks during the past year.. 3,5O0, 600.
: T. Two dollars per thousand per
Of capital -. -.-....-.-.... $4,000.
Z s. Amount Of State taxes paid by
the National Banks during the
past year, as reported to the
Treasury Department.. S,Ot0. 900.
Total..---.-- 81 -..-....--... e.. 81, ,S4s 600.
i Deduct six per cent. interest on
$500, ,000, 600, Of circulation furnish
ed to the banks. SIS, 600 900.
I -, -, -