The Portland daily press., 1868-01-09
The Stute Banks.

We have received the report of Messrs. A. G.
Robbins and F. E. Webb, Bank Commission
ers of the State. Only nine banks of discount
remain under State charters. The other
banks, sixty in number, are either closing up
their affairs or have been converted into Ma
tional banks.
By an act of last winter the liability of banks
to redeem their notes in specie was suspended
till the 18th of February, 1868. The present
legislature will, of course, pass an act of like
purport, applying to the ensuing year.
Though the liability of many of the banks
that have surrendered their State charters to
redeem their bills has expired, the Commits
sioners give the gratifying assurance that they
have yet to learn of single instance where a
State bill has been presented at the counter
from which it originated without being
promptly redeemed in current money" This
is highly creditable to the honor of the corpor-
ations, and extremely pleasant for the careless
or unfortunate holders OF their notes, who
omitted to present them in due time for re-
demption. The Commissioners comment with
not quite enough severity upon the neglect of
bank directors to conform to the provisions of
the law respecting the destruction of bills by
those officers. These provisions are intended
to prevent fraud, and require that the burning
of the bills shall be in the presence of a dsin-
terested justice O, the peace, before whom the
directors are to make oath to the number and
denomination thereof. Yet, says the report,
I'VE notice one case where the records show
three burnings of bills during the past year,
amounting in the aggregate to over $4,000,
and yet the records do not show that any mag
istrate was present, and the same are not veri-
fed by the oath of the directors io D..
The report contains a tabular staDnent
showing tue circulation of the State banks of
1867 as compared with that OF 1866, from which
it appears that the circulation is now reduced
from $s5O,957 to $26O,422, being reduction of
something more than million and half
brief reference is made to the affairs of the
American Bank, at Hallowell, which passed
into the hands of receivers on the 5th of Sep
tenber, 1865. Its total ndebtedn ass, includ-
ing circulation OF $41 All amounts to $43 $40,
while its assets have an estimated value OF
$4,000. The creditors of this bank who are
becoming uneasy on account of the claws de-
lay in settling its affairs, are counselled to
have "patience." r- r.-
4
that portion which relates to the savings
banks. The Commissioners were fully prepar-
ed to learn that the amount of deposits in
these institutions had considerably decreased
during the past year. but to their astonsh-
ment they found that from $3,9i5 1882 at the
date of their last report the amount had in
creased to $5,59S,6OO 26, a sum which, as the
Governor trumphantly remarked in his ad-
dress, considerably exceeds the whole State
debt More than two-ffths of the entire de-
| posit are Invested in United States securities.
In connection with this fact the Commission
| ers say: ..-. ..r5.
| We would call special attention to the
amount of United States securities held by
these several institutions, because we are fire.
| quently reminded of what is termed the in
| lustl"e OF the government in issuing United
| States bonds, exempt from taxation, and are
| often told with great assurance, and intimate
| commiseration for the poor, that none but the
| rich ho'd these bonds, and holding them thew
escape taxation, whereby an extra burden falls
on the poor.
Two savings banks have this year been
added to the eighteen in existence last wear.
These are the Dexter Savings Bank, at Dex-
er, and the Lumberman's Bank, at Old
town.