The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1872-12-06

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hepsrs Of y @ CemptreiIer or the Currcu.,
Inc report OF the Comptroller OF the Cu,J
renew reviews at length the workin" .a1
national banking system since its in.nsr ,g
tion. "s"Burd
OF the whole amount Of circulation .,,.
priated by Congress, S342. 900. 600 hsvaa pIIq
issued, and 4 balance OF Sl2, 600. 900 nror use]
to associations that have filed their snnI,Ss
tions aud taken preliminary steps towarriI "
ganixing a. nationsl banks W
The comptroller considers that part OF H.
recent act which calls for tho iedistribution" y
S25,0 00, 900 in currency, by withdrawina ,n .
amount from the Middle and Eastern S,. ,aa
and giving 1t to the South and West. A. ,s
practicable, and recommends its repeai /. ..aA1
also that IN amendment be made in .na'J
thereof, providing for the issue of n. 0oo ""dd
bank circulation annually for the next sv"]
years. to meet the wants OF such States W
have not Lad their full proportion. y
he III opposed to any change in the law il
reference TO the reserve which banks are ,a1
quired to hold, and shows by statistical tshls'1
that . law which has become q rule with n
cautiously-managed banks should nor ~
hastily repealed. He suggests. however H.
1t would be to the interest of banks 10 La"1
. larger proportion Of their reserve in thsir
own hands, instead Of placing 1t on denos,,
with city bonds, and points out the wav hJJ
which this end may be accomplished to tha3
Congress is informed of various comnl.;r.,
which have been made Of usurious transao'
tions, and the Comptroller incidentally sns.
gests the propriety Of the repeal Of ali usns,
laws, 10 far - they apply to the natiop,I
banks. ~
Full information IL given in relation nj
banks which have failed, showing the AVERAGE
dividend upon the aggregate Of claims proved
which amounts to about 86 per cent.-ieayinr
IA per cent. which the law provides sbsn I'D
assessed upon shareholders. y
The locking up Of greenbacks in New Yort
City 10 referred to, and attention called TO the
resolution passed by the Clearing House !.
and the belief expressed that it's inforeemen,
will do more to prevent such illegitimate tran.
sactions among banks than any Legislation by
Congress. ;"
Amendments to tho act are suggested as
follows: The organization Of banks without
circulation, upon the deposit of $40, 900 hi
the capital; the imposing Of a penalty on.
and withholding Of interest from, banks
whose capital is impaired, and who refuse to
go into liquidation, under Section AZ Of ths
act to prevent the circulation Of shipplasters
by railroads aud other corporations OF the
South; defining more fully the duties of Tho
Comptroller and Receiver in the final CLOSING
oi neoiSent DAuk6; and an amendment per.
uniting banks to loan 10 per cent. on capital
and surplus. The proportion OF taxation b
believed to be much greater than upon o,Ler
property.
Full statistical tables are given, exhibiting
the amount Of dividends and earnings OF ma.
tional banks for the last four years. The
ratio Of net earnings of the national banks Of
country to capital and surplus, without
making allowance for bad debts, is about 10
per cent. annually, md the ratio Of div.
dends to capital and surplus is less than a
per cent.
The appendix will contain much new stats.
tical information IN reference to the kind Of
funds held as reserve by banks, and their ne,
profits; Also, comparative tables showing the
amount Of authorized circulation, together
with population aud wealth in 1870, circulation
per capita, the ratio Of circulation to wealth.
to capital, and to deposits, under the present
system, and under the State banking system
in the year 1861.
The importance of frequent examinations
by competent and courteous examiners is
and . small appropriation is asked to
the expenses Of special examinations,
order that such Investigations may be
promptly made, as may be considered expedi.
ent for tho protection Of creditors. Increased
for gentlemen holding respon.
sible positions in Office is also urged.