The New York herald., 1872-11-26

ments IL has been asccrtained rom naval
ofncers that not more than ten OF the nifty iron
clad vessels can be rendered useful for naval pur-
poses. Therefore the government win dispose Of
the remainder OF them and as they VIII be sold for
nothing better than Old iron it will be for the gene
raj benefit. The twenty light draught monitors
built during the at cost Of SIC, 900 600 never
fired gun, not having been called into active SER
vice. bill is now pending before the House OF
Representatives approprating $s,Ooo 900 for build
ing ten sloops Of war.
In view OF the facts concerning the ineficiency
OF the navy efforts will be made at the approaching
session OF Congress to completely re0rganize it,
part OF Secretary RObcson's report will be de-
voted to this subject, and he win repeat the re-
concentrations in his last annual report to supply
the places or vessels which have become useless
with those OF good and sound construction, and
urge that unless something is done in this direc-
tion our cruising navy, now by no means powerful
indeed scarcely respectable for nation Of our
rank and rcsponsibilities-will soon almost wholly
pass out OF existence an arm Of our national
power .-....s
Report and Recon- me nda ations OF the
Comptroller OF the Currency.
The report OF the Comptroller Of the Currency
reviews at length the working Of the national
banking system since its Inauguration in 1868. or
the whole amount OF circulation appropriated by
Congress $3l2, 900 have been issued and
the balance OF 81, 900 promised to associations
that have fled their applications and taken the pre-
iminary steps toward organizing as national
banks. The Comptroller considers that part OF the
recent act which calls for the redistribution OF
$25 900 900 OF currency by Withdrawing that amount
from the Middle and Eastern States and giving it
to the South and West as impracticable
and recommends Its repeal and also that
an amendment be made In lieu thereof providing
Tout tsAa
nually for the next five years to meet the wants OF
such States which have not had their fun proper
tion. He is opposed to any change in the law in
reference to the reserve which the banks are re-
luired to hold, and shows by statistical tables that
q law which has become rule with all the
| cautiously managed banks should not be hastily
repealed. suggesting. however, that il would be to
the interest OF the banks to keep larger proper
tion OF their reserve in their own hands, instead of
placing it on deposit with the city banks, and
| points out the way by which this end may be ac-
complsbed TO the general benefit
| Congress Is informed of various complaints which
have been made of usurious transactions, and the
Comptroller incidentally suggests the propriety OF
repeal OF all usury laws, so far they apply to ma
tiOnal banks. Full Information is given in relation
to the banks which have failed, showing the ave-
rage dividends upon the aggregate claims proved,
which amount to about eghty-six per cent, leav
ing fourteen per cent which the law provides shall
be assessed upon the shareholders The locking
up OF greenbacks In New York city is re-
ferred to and attention called to the
resolution passed by the Clearing House,
and the belief expressed that it's enforcement will
do more to prevent such iegitimate transactions
among the banks than any legislation by Congress.
table is given, showing the total amount Of coin
held by all the national banks, together with the
amount OF gold, Treasury notes, checks payable in
specie and coin held by the banks In New York
city, stated separately. Amendments to the act
are suggested as fOllows:-The organization OF
banks without circulation upon q deposit OF
$4,000 in United states bonds, instead OF one
third OF the capital; the imposing of penalty on
anu the Withholding OF interest from banks whose
capital is impaired and who refuse to go into liqui
dation, under section ~ Of the act to pre-
vent the circulation of shinplasters by railroads
and other corporations in the south; defining
more fully the duties Of the comptroller ana the
receiver in the final closing Of insolvent banks,
and an amendment permitting banks to loan ten
per cent, both on capital and surplus.
Tie amount OF taxes collected by the United
States for the four years previous to January l,
1872 is than forty millions OF dollars and the
whole amount OF taxes, State and national, nearly
twice that amount. The date upon which taxes
are assessed can always be readily obtained, and
the proportion OF taxation Is therefore be-
lieved to be much greater than upon other
property. Full statistical tables are given,
exhibiting the amount OF dividends and
earnings OF the national banks for the last four
years. The ratio OF the net earnings OF the
tonal banks OF the country to capital and surplus,
without making allowance for bad debts, is about
ten per cent annually, ana the ratio OF dividends
to capital and surplus less than four and half per
cent The appendix will contain much new
statistical information In reference to the kinds
Of funds held as reserve by the banks aud
their net profits; also comparative tables showing
the amount Of authorized circulation, together
with the population and wealth In ls7O the circula
ton per capita the ratio of circulation to wealth,
to capital ana to deposits under the present
system and under the State banking system
in the year 1852. The Importance OF
frequent examinations by competent and
courteous examiners Is stated, and small appro-
pration is asked to defray the expenses OF special
examinations in order that such Investigations
may be promptly made, as may be considered eX-
pedient for the protection OF creditors Increased
compensation for gentlemen holding responsible
positions in the Office is also urged.
The Report Indian Ana irs-Rec0m-
mendations Concerning the Census.
The Commissioner Of Indian Afrairs has not yet
completed his report, but is expected to do this
week. That portion relating to the treatment OF
the Indians WILL II is said, be very interesting
And this much OF 1t viii be Incorporated In the
report OF the Secretary OF the Interior, with opn
ions elaborated by Assistant Secretary Oowan, who
has given the Indian policy careful attention. Tie
rapidity with which Commissioner Walker has pre-
pared the Census report will also be favorabIy
commented upon, and his recommendations for
taking the census every five years endorsed.
Efficiency Of the Interior Depa artment
Clerks-Work fn the Patent Once.
The reports Of the Chiefs OF the Bureaus in the
Interior Department this year show a state Of EN-.
cheney never before attained. the work In the
Land ONCE, which has been very much behind, is
now up to date. The Pension Bureau dsposes OF
its business with promptness and complaints OF