, 1870-07-09

ing's paper. a Supplement will alzo
served to readers in town with TIE SUspA
TRIBUNE
THE NEW BANKING BILL.
The final passage Of the banking bill b,
both Houses Of Congress is the first Of /,
series of financial measures OF the greates
importance to the business interests of tn
country. The influence of this bill will b,
Immediately felt Throughout all fnaucia
circles in the Union. That the reader ma,
clearly understand il, we shall state it's nlair
provisions
In the first place, it authorizes an add
tion to the circulation of the Eationa
Banks of S54, 600, 600. The new banks ART
to he based on the same kind and proper.
tiouate amount Of bonds as the existing
banks. Tint is, 90 per cent Of circulation
will be issued on $50 or 1910 bonds; but
not more than half million of notes will
be allowed to any one bank.
. As fast as new banks are organized.
the Secretary of the Treasury is required
TO call in and retire the per cent certif-
cates Which ore now held by the banks
rs part Of their reserve funds
for tile redemption of their notes. There
are about S45, ,000, 900 of these certificates
outstanding, on which the government is
paying 81, $50, 900 Of annual interest to the
banks They will hereafter lose SO much Of
their profits, and be obigedto to replace thess
certificates with m equal amount of green
backs
3. The $4,000, 600 of new circulation
will be issued to banks in States that have
less than their due gu ota of bank circula-
ton under the National Banking act It is
to be divided among such States in propor-
ton to their population by the census of
1870.
When al Of The $54, ,000, GOO is thus
distributed to the States that are short of
their equitable proportion, then it is made
the duty of the Comptroller Of the Cnr-
rency to withdraw S25, o0o, 600 of circu1a-
tion from the banks in these States that are
still IN excess Of their equitable share Of
the currency, and distribute like amount
to the banks In those States that are still
wanting in their proper quota.
Tho 5;,+.;1.:
tha -as;.s.ao4.1 ....4on ~ tae go, wv, ,ooo and
lo ,"m ts14ou,on o. the ~, ,ooo, 600 afore-
aan eaao W give Tue "est and South S19, O00,-
ooo more bank circulation then they now
possess, which will just about double the
amount those States have at this time.
4. The bin also provides that the STOCK
holders Of any National Bunk located in
s.a'e e.a' 11s more than its due propor-
w ~ .AaA c,scn,auon' may relocate it in
s 1.a,e LIE. nas less Ih1s provision will
ee4u 4'1 Ane' 10 eeualtze me dlstr1bu-
~ We currency among the states-
anotnef provision OF the bill author-
ta,;s.. se ol.n,My a.1 On gole oasas~ Capt.
s.e .a15 es4onsn oanks IN any part OF
-.s o1a'eu ..ta1 secured oy pledge of I
r. 800 - , .oaos' II tne proportion
wv - JULIUS 10 seo OF circulation, the
~ ~ " A9oeenea u cotn on demand
s4 S WILL oe afnmediately
S.st, ni1a ~ eA.aoioia ana the goitt-mia'ngg
~ - ~, ' u.saer LIS Saneuon
~ |l' ol' we nave no doabfs we should
e4 sa !" zee me great bank Of
- -, oon'et7o mo hatlonal doid
~ .-14N WIZ onoouoteoiy' oe some
r.. -. sgr - se eaP'eal organized IN
=. +.,..se.. - o1AeA 1n1ouen Thich
n.es ~ .n,,:.,, .a- 'uu ol1ef to1easn ousa"
Than - s.oe.ts.,s, - e ~ q eo.n oasis.
-, haco,ne .n.,.s .s ~, ns''' a.' III CON-
-, D.~,- A.A' AZ present Ma
~ ,t..s - Nc so.o oanAs'
,,,.---,.-N.'I 1v,Nns WILL tne reg