New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-12-05
capital OF tho banks named 10 tiS, ~, Yea.
II linnn o the saxaral afafOa A fOliAwa.

$::;s; s ssS::: :. H.: SIS
ss 49,: isiM 1saa s::, @
k:s;::ls s' s.si::::: Ss -: s
::s, s:: t Y: ss;; C.
July 49, 1870 70 October ISL s ga 49, some oN co.
GS 0a s.ns Which had
their full quota which had increased their oapt 70
mfs the ss % sss since tho
Of the act has been such as to preclude the o.
their taking any considerable portion OF me
led in tho South Is small This fact made G possible
sss Of a. o. o
the Western States and accordingly nearly az Of the
granted cstinate that the western and North West
srn States can bs fully supplied and s leave iron iron
aro in conon to take il In New Orleans disposition
has been manifested 10 adopt the national banking system
Of FL old
national banks and 1t is understood that several OtneTs
the way Of such changes the Limitation hsed the
act to ths amount Of that can pc
Orleans state banks employ very much larger capital.
and could employ much larger cirou.-
tain tain cases Is si respectfully suggested.
Since my last report but bank has been estsbshed
Frano 500 capital Of 100000 It is presumed
that the OF this Institution not natcrne -
Sosr tloash IN View Of the Obstacles and tho
opposition which 1t meets it holds its own and
s onssy with h. yscc
gold currency quite notable Whether y equally
sass dsrve say benefit from tho
they have pursued and it beginning TO Dc mapaess
Ts SUBSTITUTION Of paper currency California and
the other gold producing States for their present hard
money would probably set free for tho use OF tho Gov.
eminent and tho whole country some 100000 or
OF gold and at the SAME time provide tnoss
communities with u economical, active, ana &c.
communicating circulating medium | recommend snss
BE- ade for the q
basis, and that the law 10 50 nodded ~ 70
them To- win IL t Ssnsr
There IL nothing especial to note In the history or man.
asevent Of tho banks during the year to- cases o.
The examinations made under the provisions OF sccton
Of the ac ssys Sssn IN to
vent loss to the hank In quite number OF casea and
ss NO ao an .. % iii the
tant requirements Of the act Occasional complaint
higher rates Of interest the laws Of the several
states authorize, but the law itself provides remedy
any official action on the subject While nothing
.'s s ne
again 10 tho very high rates Of taxation imposed
BY e the 10 s l.
70 snS ct
bank 1t is probably true that in some instances the
-
hostile one Intended to drive National banks out Of ex
stsnoe. WHILE other onerous taxes are imposed
nous profits and Gan afford divide them with the
State am Of opinion that the public gOod would jSs
shares ss" y" Naoa IaSk s tax paid to the
United states u per cent on the capital OF me oanE
to be- sufficient for the States in which the banks are To-
Gated.
clothed with power to act in cases where the capital OF
bank has been seriously impaired BY losses Or otherwise
Al lQr hV ran fha
OF the shareholders, by requiring the bank
to x s ss sU SS n q
bank which is not Engaged In the transaction OF sg.
na SssS % OF
tons. think it would have tendency 20 cneck the
rc"red to sa%p iii such notes when at the
counter Of the bank, with the WON counterfeit ana
suggest the exDediecy Of legislative provsion TOT tnas
THO circulation furnished to national banks has now
Years and Il is Tsinx rsturnsd IL constantly increasing
amounts for notes. since the organization Of the
. ntsaH u ssps q 1 IF sS s
during tie last year The handling OF these notes IN
tho present available force Of the office.
Carefully prepared tables will 10 found In the sppen-
ist The number of banks. amount Of capital bonds.
and circulation in each State and Territory
OF bank-nOtes issued. redeemed, aud outstanding.
sd. The number and amount OF cach denomination
OF gold bank-nOtes issued and outstanding,
Ith Statement Of amount and different kinds Of bonds
held to secure circulation.
6th. Banks in tho hands OF receivers
9Th. National banks In liquidation which have depOs-
tied lawful money to redeem their circ'aaton and taken
It'll. National banks in liquidation for the purpose Of
consolidating with other banks.
9th List Of clerks employed during the fiscal year end
10TH Expenditures for the asca year ending June %
ISL '
The time when, and tho means by which, specie pay
mens may be resumed have for some years been the
subject Of much anxious consideration and Of earnest
public discussion. The problem 10 one Of general and
pervadng interest, closely connected with tho public
welfare and like all Questions Of public Importance. hs,
called forth great VARIETY Of oIpi;SnS: Writers wa5
Political sconomy With few exceptions
In time Of suspension Of specie there has beer
10 corresponding decrease before spois payments CAL
Assanne the paper currency e b. redundant. or II
Of the normal demands Of trade. tho excess
be retired m order to bring the currency UP 70 speS
Currency Of the Tnitsd st:sss BY majority Of thost
who have written ana spoken the subject since tn.
Ias *s ~ sss
time TIA. In @ obedience e %nas We 70
by for
collation.. Of United states notes = tho Ok
sss Of four million: Ss sas 0sn
yision not carried nto eeot u9 the latter part o.
msncsd ySs = sSi. ns so
IN the money market which iqsreased severity - con
traction went on To the people tho strngency seeme.
produced BY the contraction, though II now evi
dent that other clauses oon.pred toad In producing tn
result The hard times. however. were gensrslly st
tributed the depletion Of tho money markets by tn
outhA aud s continued reduction u the rate or fou
milA0uG per mouth thereafter.
THIS opion had al the force Of conviction in the pub
he mind aud foa.d it appropriate N On &C
S,Sisas ~; fa1s se ssdactsn IL he sSssasy
the meter now StAnda II thsrs Y supersbnnSdance
currency. which mus " rered befe spscis DSss ~
Ds he repeal Of The cot VI tsbrvasy i public Ssu
timent win not psRnit o. sAnctlen snc1 cotton y ~
sumption e tSs eapenSe Z Sentraetion. Il Tn e
only !osd = peote payuents. 10 rsoaans e'oseo W
"a direct ssSsSoeis4 70 ~ dsuand tee :pesse pay
ausnoss IL dseEns q earssaey P:s.6a1 1S y