The Lake County star. [volume] (Chase, Mich.) 1873-current, 1874-12-17

and ending September I, 1874. From this
table i appears that the average dividends
on capital, during the past year, have been
at the ratio of 9-10 per cent. The dividend
upon the capital and surplus 7.6S, and the
earning to capital and surplus 9.6S.
The amount of taxes collected by the Com
missioner OF Internal Revenue from savings
banks, State banks, and private banks and
bankers, during the last year, was IS, 1897 900.
The Controller gives statistics of the re-
sources and liabilities of the State banks
and savings banks during the past year, but
few of the States have laws requiring regu-
lar reports to be made to the State authOri-
ties, and still less number of States complete
such reports. When received, the returns
given are chiefly from the banks in New
England and the Middle States, and the Con-
troller has addressed q circular letter to the
Governors of the States, suggesting that
recommendations be made to the several
State Legislatures, urging the passage Of acts
to the money institutions of the States, and
ask the attention of members of Congress to
the subject, and the exertion of their infu-
ence to that end.
The Controller 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 five dollars, now Outstand-
ing, is So, 972, 841, and the amount of nation,
al bank notes, less than ten dollars, $139, $50,
AGO. the amount of legal tender notes
outstanding, Of less than FIVE dollars, is $50,
223, 525, and the amount of legal tender notes
less then ten dollars is $l07 ,403, 965. If the
whole issue of legal tender notes and nation
al bank notes under five dollars should be
withdrawn, it would require $50, 222, 900 OF
the specie to take its place, and If all the
paper money, including fractional currency
under ten dollars should be withdrawn, il
would require $295,535,000 of specie to take
its place.
The United States Treasury holds $685., 400,
600 of United States bonds as security fol
the circulation notes. These bonds consist
of $145, 1881 900 of six per cent. bonds, and
$23S, 100000 of five per cent. bonds, and
there has been an increase of the present
bonds, during the last four years, Of $143,
497 900 and a decrease of six per cent bond,
of 800, 909, 900.
last year that there is no present necessity
for the engraving of new designs for the
national bank notes. The average number
of impressions printed upon the present
plates does not exceed 1000 while they are
capable of printing an average of $4,000 i'm
pressions. The large amount of engraverl
at work on the national bank notes, and the
similitude OF the designs OF each denomina
ton have tended to prevent the issue o.
counterfeit notes, more than forty-six of tn,
whole 5000 plates which have been engraved
for the national banks, having been success
fully cOunterfeited, while under the OLE
State system the counterfeits were nun
bered by thousands.
The Controller recommends an appropria
ton of 5000 for the redemption Of un
signed notes of national banks which wer,
purloined from the Treasury in 1867
number of amendments are recommended t,
previous acts, but the act of June 20, 1874
is so recent that the Controller recommend
It to be thoroughly tested before any change
are made.