New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-11-23
THEIRS AND THE ASSEMBLY
MOTHER BOAT OF MISSOURI PICKED UP
INCREDIBLE SUFFERING
ZOE M THE RIVER AT ST. LOUIS
WASHINGTON.

! w AS &11TNC&TO
! HIemphEs and ri Paso Arrangement gvitE
esan Diego and ella River Railroad
! Claims for Private Cotton Takcn-Su
pervisRg Ateamb CAT 1nspectorB-Ex-
/ tending POswer of AsslstaRts-Seuthe
| Claims Commission Report tic
/ Congress-HePor9 af Controller OF Cur,
| Tencys
| WAsuISGToE, November % Colonel
! Thomas A. Scott announces that he has
/ made arrangements with the Memphis and
| I'll Paso Railroad Company, by which that
! company releases ali their claims against
| the San Diego and Gala river railroad. Bhe
! franchise goes to his company.
} Colonel J. NJ QUITS states thar under ehe
act Of May Is, 1872, the time for filing claims
a0r priVat3 GottOn taken after June so. 1855,
has just expired.
ghe petitous filed Involve such large
! amounts and raise such intricate and va
rious ques ions of title that it is believed
che Secretary Ot the Treasury will ask Con
gress 30 relieve him from the duty OF de-
eding them and gefor all cases Gica before
him to the Court of Claims
The members OF the bar, generally, would
prefer tn have their clients interests ds-
tormined judicially.
Che supervising Inspector Of sfea4nboaS3
recommends that the power OF assistant in
spectorB be extended, 80 that they NAV be
qualified 90 perform all official acts now de-
yoIviDg upon local inspectors. Also that pow
or be given by law to the Secretary OF the
Treasury e. convene investigating boards
composed Of such officials Of the steamboat
service as may appear proper te appoint to
shat duty, which boards shall have pleDarv
power to inquire into oil circumstances at
tending Casualties and 60 suspend or re
coke the licenses of steamboat inspectors
Sho report q the Southern claims com
mission will De ready on the assembling of
Congress. Che papers II each ease meB
toned 10 the general report go to the claims
committee in the House, accompanied by
full written report specifying exactlS what
I8 allowed or elected in each case. and
giving the reasons Tor the decision made.
The report Of the Controller OF Currency
reviews at length the workings of the ma
tional banking sYstem since its inaugura-
Ion in 1858. OF the whole amount Of circu-
ldSi0n authorized By Congress s312 900 600
have been issued. and the b3lance Of
1000, 900 promised tU associations >hat
have filed tHriT applications and taken
She preliminary steps toward organizing as
national banks. EAe G0utr"IIeS considers
that part 0t The recent act which calls GUr
the redistribution at S25.t90, ,lE43 ot cuf-
renGv. by @ithdT"wiu9 thaH amount from
che Middle anS EaatcTn States ana giving
/. % the South and West, as Gnpracticabie
aEi recommends its repeal. and &lso
that an amendment be fntsae IN lieu
thereof, providing for she issue of
S5,C0000O Of bank circulation annually for
the next i've years ~ meet the wants of
such Statas which have not had tAe!g tull
proportion. lie is opposed - ANS change
in fhe law in reference TO the reserve
which She banks are required 20 hold,
and shows by Etatistcaf fables
that e law which fas become 8 YllHe with
all cautiously managed banks should not
be hastily repealed. suggesting, however,
that il won4J BE- to the interest Of She banks
SO keep j. larger propornon Of their
reserve ip their Owa hands. instead
OF placing it on deposit with GhG CITY
banks, aust p0ints out the way by which
this end may be accomplished to the general
benefit. Congress is informed Of various
which have been made OF usu-
rious transactions. and chs GHntr0lieE inci-
dentally suggests tho propriety Of q repeal
of al nsury laws. 90 $dE as Shey apply to
national banks.
Full information il giyen an relation Co
che banka which have failed, showing aver
age dividends upon aggregate of claims
proved, which amount 80 &bOuG cighty-Bix
per cent leaving thirteen and half per
cent. which the law provides sh8lJ be- &s-
sessed upon the shareholders. ghe locking
up Of greenbacks in New York city is RS
terred to, and attention called to the reso-
luton passed by the Clearing House, and |
the belief expressed that ifs enforcement |
will do more TO prevent such iIlegitimate |
among the banks than any |
legislation by Congress.
A table is given showing the total amount |
IF coin held by all the national banks to-
gether, with the amount of gold, treasury |
1otes, checks payable in specie and coin |
held by the banks in Ne York city stated |
separately.
Amendments to the ae8 are suggested as
'ollows: The organization Of banks with
'ut circulation, upon a deposit of $4,000 |
n United States bonds instead of one third |
IT the capital; the imposing of & penalty |
md the withholding of interest from banks
Rhose capital is impaired and who refuse
o go into liquidation under section forty
wo of the act
To prevent the circulation of shin plas-
ers by railroads and other corporations in
he South; .!efniHg more fully the duties of
he Controller and the receiver in the final
losing of lns0lvent banks, and an amend
lent permitting banks to loan at ten per |
ent, both on capital and surplus.
The amount of taxes collected by the
United States for the four years previous to
anuary |. 1872, is more than $f00000,000
nd the whole amount of taxes, State aud
ational, nearly twice that amount. The
alta upon which taxes are assessed can al
Ways be readily obtained, and the proper
ion of taxation is therefore believed to be
luch greater than upon other property.
'ull statistical tables are given, exhibiting
he amount of dividends and earnings Of
1e banks for the last four years.
The Patio of the net earnings Of the ma
onal banks of the country to capital and
1rplus, without making alowanee for bad
ebts, is about ten per cent annually, and
le ratio of dividencs TO capital and surplus
,ss than four and half per eens. The ap-
endix will contain much new statistical in
,rmation in reference to the kinds of funds
cid aa reserve by the banks and their net
rohts; also, comparative tables showing !
10 amount of authorized circulation, togeth-
: with the population and wealth in 1870,
be circulation per capita, the ratio of cir
nlation to wealth, to capital and to de-
Osits under the present FSstem and under
10 State banking systeas 70 tho yeay 1862.