Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1867-11-15
All About the National Banks. Con
elusion Of Mr. Jay Cookies Letter.


All About the National Banks. Con-
olusiOn Of Mr. Jay Cookies Letter.
". Present Position Of the National
Banks.
Those banks that have changed from
the State to the National system. hav-
ing given up their former and much
larger liberty of circulation and depos-
its, together with the new banks, find
themselves threatened with being de-
priYed, not only of their national CirCu-
Iation, but also of their positions as fis-
cal agents Of the Government.
The profits of the banks during the
war, like those Of almost all branches
of business, were large and unusual /;
but as matters now stand, think 1 only
/ express the opinion Of bank officers gen
orally, when state that, in view of the
aguregate of taxation already imposed
upon their profits and business, the Ma
! ti0nal Banks cannot, for the immediate
/ future, declare average annual dIYi-
dends Of moro than seven per cent.
and do a safe aud legitimate banking
business.
These National Banks constitute now
our only system of banking, and are in
terWoveH with all our business and in
dustriR1 interests. So far as the officers
and stockholders of the National Banks
are concerned, I venture to express my
Il s
1 would, if it were g mere question Of
profit, gladly return to the old State
/ system, could they be assured of the
/ same privileges formerly enjoyed under
it. Are our merchants, farmers, me-
/ chanics and working men generally,
! prepared for such a changer Eor,
such q change they will have if they do
not rally to the support Of the National
/ system, Already, / understand, an en-
i sbling act has been applied for, or has
| been obtained from the Legislature Of
1 New York, to enable the banks Of that
1 powerful commonwealth to return to
/ their former condition as State institu-
1 tions. The fast is, the stringeney of
Il the National Banking law, the reduced
i liberty of circulation, the compulsory
reserves Of funds, the State and Nation
I al taXRtiOn-ail combine to render the
4 present system much more favorable to
the people and less attractive to the
/ bankers thant that formerly in vogue.
| The number of National Banks now
/ in existence and in good standing, is
l,639, having an aggregate capital OF
] S424. Al .56I, The number of National
Banks used as repositories of public
monies Is 383, having an aggregate cap
ital Of $4,000, goo. These depository
banks had on deposit at Washington,
1 July 1st, 1867, as security for Govern
ment deposits with the banks, United
States Bonds Of various issues amount
I A-4ea ~ WeAegetf9Issll ~ 53+ls+~1 AAAS N~LsN~l
amount of Government deposits at that
date, Of &29, ,764 ,09D ,09. The average
amount of non-interest bearing legal
/ tender notes held by the banks during
J the past fiscal quarter, was 9102, ,43l, 300
Il The National Banks have on deposit ai
the National Treasury, 10 secure theiI
calculations, six per cent, bonds amount
ing to &252, AL, $50, and Ave per cent
bonds amounting to $50, ,268, 100 bolne
q total Of $340, 709, $50 with which 10 90
cure an aggregate circulation Of $780,.
OOO, 600. The National Banks that have
) failed since tha Inauguration Of the sys'
! TEN are nine, having an aggregate cap
81 ital Of %, 100000. Twenty-three othel