Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1874-12-04

ally assessed at not more than one-third of
their actual value but bank shares are usual
ly assessed at their full value. There is no
doubt that the rate of taxation of National
Banks is greater than that of any other species
OF property.
The amount of fractional revenue tax de-
rived from the sale OF the two-cent stamp
affixed to checks and sight drafts for the year
ending July 1, 1874, was s. 100000. The
COMPTROLLER recommends the repeal of the
latter tax, and if it is not repealed that the act
shall be so amended and such penalty pro-
vided as shall tend to prevent evasions of the
present law.
A table is given showing, the aggregate
capital and surplus, total dividends, and total
earnings of the banks, with ratio of dividends
to capital and surplus, and capital and sur
plus for each half year, beginning March,
1860, and ending Sept. I, 1874. From this
table it appears that the average dividends on
capital during the past year have been at the
rate of $40 per cent, the dividend on cap
ital and surplus S7-100, and the earnings to
the capital and surplus 6S-lO0.
The amount Of taxes collected by the Com
missioner of Internal Revenue from savings
banks and private banks and bankers during
the last year was So, 1885,, 600.
The Comptroller gives statistics of the re-
sources and liabilities of State banks and saw
ings banks during the past year. But few of
the States have laws requiring regular reports
to be made to the State authorities, and still
less number of States compile such reports
when received. The returns given are
chilly from the banks in New England and
the Middle States, and the Comptroller has
addressed circular letter to the Governors
of the States, suggesting that recommenda-
tions be made to the several State Legisla-
lures, urging the passage of acts
which will secure information in reference to
the money institutions of the States, and
asks the attention of members of Congress
to the subject, and the eXertlon of their in
fiuence to that end.
The Comptroller gives table showing the
amount Of National Bank notes of each de-
nomination outstanding, from which it ap-
pears that the amount of notes less than the
denomination of $5 now outstanding is &c.
or, ,S41; the amount of National Bank notes
less than $40 is $139, $50, 1896 The amount of
legal-tender notes outstanding of less than
IS is $50, ,222,3 ,322, and the amount of legal
tender notes less than $40 is $107, ,4O3, ,965. If
the whole issue of legal-tender notes and Ma
drawn, 1t would require $50, ,233, 900 of specie
to take its place, and if all the paper
money, including the fractional currency, un-
der $40 should be withdrawn, it would require
1926, ,535 900 of specie to take its place. The
United States Treasurer holds 1885,, 400 900 of
United States bonds as security for circula-
ton of notes. These bonds consist of $145,-
981 900 of per cent. bonds, and $3.50, ,944, 900
of 5 per cent. bonds, and there has been an
increase of per cent bonds during the past
four years of $143, ,497, 900, and o decrease of
per cent. bonds of $100,909,000
The Comptroller recommends an appropria-
ton of $1,000 for the redemption of unsigned
notes of National Banks which were Dur-
loined from the Treasury in 1867.