Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-11-24
WASHINGTON.
Supreme Court to be Radically Re.
constructed.
Report of Comptroller of Currency.

Report of Comptroller of Currency.
WASHINGTON, Nov. 23.--The President,
being busily engaged completing his mes
sage, declined to see visitors TO day.
More Jucgeships for Partssans.
A bill win be presented to Congress this
winter which proposes radical changes 10
the present working of the Supreme Court.
The bill contemplates an intermediate
court, which shall possess the ordinary
I powers of the present Supreme Court, and
before which ali cases shall be argued. The
Supreme Court proper shall be made sta
tionsry, and the justices relieved of all cir
cult duty, which shall be performed by the
judges of the intermediate courts; the
Supreme Court to give its entire attention
to passing upon and deciding questions of
law which come before it from the inter-
mediats courts. The bill viii also provide
that the intermediate court shall not con-
strie sHy law, but decide the cases which
come befsre it Ia accordance with the con-
strucsier placed upon the laws by the Su-
preme Court, Tine measure is deemed
necessary, Because of the accumulation of
Appointments ad Interim.
Since the adjournment Of Congress the
President has made one hundred and
eigsIsy-aeSsn appointments tor the Interior
Dsparaaent, most of them Indisn agents
and pusae land officers; in the Department
OF Justice fifteen United States Marshsls
and District Attorneys: Navy Department
5; Post-masters IA; State Department Il,
oil which II are Consuls, and most of the
others Centennial Commissioners. The last
named appointments are not confirmed by
the Senate. For the Treasury Department
81, of which 10 are supervisors of Internal
revenue under the new law. Most of the
other appointments are for internal revenue
and custom servics.
Two hundred and fifty recruits have been
ordered 10 Louisville for the Sixth Cavalry.
Treasury Notes
The following are the balances in the
Treasury Of the United States at the close
of business to-day: Currency Sc, ,S59, ,094;
coin S71, ,939, 1902, including S20,596, 900 in
coin certificates, special deposits of legal
tenders for the redemption OF certificates of
deposit S26, SOS 900.
Amount of fractional currency received
from the printing division Tor ageek ending
to-day $685., 400. Shipments ssa-, 500.
Shipments Of legal tenders S5le, ,Catj, Tie
Treasurer holds in trust as security FOX cir
culating notes of National Banks 1885,, 5,5GS,-
400, and for deposits of public monies Slo,-
693,O00
Internal revenue receipts to-day $780,
G51; receipts for month $6,934,0T9, and for
the fiscal yea- to date S5l,637,65s.
The National Bank currency outstand-
ing is $341, sol ,S96; fractional currency re-
deemed and destroyed during the week
$7lS,800,
Our National Teaches.
The report of the Comptroller of Cur
rency reviews at length the working Of the
National Bank system since its inaugura-
ton. OF the whole amounts Of circulation
appropriated by Congress $342, 100000 |
have been issued, and balance OF Sl2,-
100000 is promised to associations that |
have fled their applications and taken pre-
liminary steps toward organizing as Ma |
tional Banks.
The Comptroller considers that part of |
the recent act which calls for a redistrlbu |
ton Of twenty-five millions Of currency By |
Withdrawing that amount from the Middle |
and Eastern States and giving it to the |
South and West as impraCticable, and re-
commends its repeal, and also that an
amendment be made in lieu thereof, provid-
ing for the issue of five millions OF bank
circulation annually for the next five years
TO meet the wants Of such States which /
have not had their full proportion.
He is opposed to any change in the law
in reference to the reserve which the banks
are required to hold, and shows by statisti.
cal tables that a law which has become
rule With al cautiously managed banks, |
should not be hastily repealed. A sugges.
ton, however is made that 1t would be to
the interest of The banks to keep larger
proportion of their reserve in their own
hands, instead Of placing it on deposit with
city banks, and points out the way by
Wach this end may be accomplished to the
general benefit. Congress Is informed OK
various complaints which have been made
of usurious transactions, and Inc Comp
troller incidentally suggests the propriety OF
a repeal of all usury laws SO far as thep ap-
ply to national banks.
Full Information is given in relation to
banks which have failed, showing the aver
age dividends upon the aggregate OF claims
proved, which amounts to about Sc per cent,
leaving IA per cent which the law provides
shall be assessed upon the stockholders.
The locking up Of greenbacks in New
York city is referred 20, and attention IS
called TO the resolution passed by the Clear
ing house and belief expressed That Its
enforcement will do more to prevent such
illegiimate transactions among banks than
any legislation by Congress.
A table is given, showing the total
z l.. - ~ ill FIo# #Tontin al
banks, together with the amount Of gold,
Treasury notes, chscbs payable in specie
and coin. That held by banks in New
York City is stated separately.
Amendments to the act are suggested, as
follows: The organization Of banks with
out circulation upon deposit of $4,000 in
United States bonds, instead of one-third
of the capital: the imposing Of a penalty
on aud wi hhOlding of interest from banks
whose capital is impaired, and who refuse
to go into liquidation under section l42 OF
the act; to prevent the circulation of shin
plasters bv railroads and other corporations
in the South; defining more fully the duties.
of the comptroller and receiver in the final
closing OF insolvent banks, and an amend
ment permitting banks TO loan ten per cent
both on capital and surplus.
L |
much greater than upon other pro 9erty.
Full statistical tables are given exhibiting
the amounts of dividends and earnings of
national banks for the last four years. The
ratio of net earnings Of national banks of
the country to capital and surplus, without
making allowance for bad debts is about
10 per cent annually, and the ratio OF
dividends to capital and surplus less than
a per cent. ">2...-ra
The appendix will contain much new
statistical information in reference 10 the
kind Of funds kept as reserve by. banks!and
their net profits; also comparative tables
showing tie amount Of authorizes: :elFcuia
ton together with the p0pIlatfcIl aad
wealth in 1870, the circulation per capita,
the ratio Of circulation 10 sea}tb;to capital,
and to deposits under the present system ::
and under the State banking s. stem in the
year 1862. lE.
The importance Of frequent examinations
by competent and courteous examiners is
stated, and q small appropriation asked To-
defray the expenses Of special examinations