The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-11-30

,,hr Knox, Uoited States Control
- rnc Currency, in bis report 10 Tue De
a. -. ~, the Treasury. after reviewing t'e
',s,D -: Congress respecong the M
f.srkiuy system. gives the following
'' NATIONAL BANKS.
..r-,wo hundred national banks have
'..nr,tnd since the establishment OIL
-" '-'1 i,anlinr system under the act
T.. ", ,'. ,,,, ~ 1858 Thirty-tive Of these
IL h,yr t2iIcd. and one hundred ana
'...n' ',, .,r have cone into voluntary liqui-
'",'', Daring the past year sefenty.ohe
l.. a. ta,,,, have been organized, with an
''''"1 ....' ,i'' rrnr,I of SG.745.5oo. Three
s' ... We fail, d and twenty gone into vol
,..,-, liquidation. .,o aso. October
-. f.,rl. h.d an aggregate OF resources Oh
--,>h Gfa. and an equal amount OF III
Tine j. New York city banks have
..~r.. ~ the amount OF S42i. 1921; the
INK. If Bosom. Philadelphia. and Baiti"
- .'''. so, 5,si .nG: s. banks OF other re-
..,,..,,,., .r,ir>. Alauy, Pittsburgh. Wash
+ ., \,,S Orleans. Louisville, CINCINNATI,
.,.r5. Chicago. Detroit, Milwaukee,. 81.
,ut ~m Francisco, S2'i2,3Sb, ~
.'.,,y hanks, 80 in number ,SS'46, 'J4,lo0.
q. .,r,fi... are placed al the same amounts
L.. !" ..,,r.l h,ns act authorized the issue
~. .,,o nna ri national bank circulation.
.. n III, -. l>1a, authorized the issue
npr nn OF additional circulation.
- ...5,;. additional circulation there was
..:., November |. 1871, s2+,1l5, 2G0; in
.. ....~,r.lIn. November l. 1872. Sl6.22o
tl,.r
& - 80. p,rlus the year endin: Nofem.
w.. -. ,.,r, has been issued 1881 ,ol6,
'-, 4pr.u. :Ar same year there has been
v.,..,.~tau irnm circulation and Destroyed
~ ola showing m actual increase OF ma
;.,,l-hauk circulation during Tue past sear
d. -3.;,1,G.22"'.
7 So national god banks have been organ
.....r. California during the year WIN an
,.....r..snl tupi!.I Of 100000. The total
,-..,n q. w'jonaL gold banks, all OF Wmch
s.. ar-,"tl.d in the State OF Calilornia. Is
S,.f.'p8. 10 which banks circulation has
i.... i,,uvd amounting to 3, 100000.
CIRCULATION.
y.. View England States have OIL banks
~. :! cspilaD OF Sl62, 59G, 4S2, aud circuia-
,uso, >lU9,705.0lS.
w.. Middle sta.cs-New York, New Jer-
-. PENNSYLVANIA. Delaware, and Mary
,t.i-Aare 5Sj banks, with capital paid in
d.. ,mu IL. ,GGy. aud circulation outstand-
w A.. Sl23, O52,S72 The Southern and
>..ramc>:2rn States Virginia, West Viz.
...,.,. North Carolina, South Carolina, Geor'
r., Florida. Alabama, Mississippi, Louis.
-,, Texas. Arkansas. Kentucky, Tenncs
49,. Missouri. and the District Of Columbus
h.. ~ nj r,oIH n
;,3G%al. iUo, and circulation outstanding
u. 1876 j.704. The Western States-Ohio,
I.I4ua. Illinois. Michigan, Wisconsin,
i.S4, Mnnc>ota, Kansas, and Nebraska--
i,., G>i banks. with q capital paid in OF
-. ,34. 80. and with a circulation outstand-
mo-, >717.l74.sj0. The Pacific States and
=. Territories Nevada. Oregon, Colorado,
I'.a, Idaho, Montana, Wyoming, New Mex
r,.a0d p4kota-hayc 20 banks, with cap
r.uptd III OF Sl2.415, 325, and circulation
r,t>nudm. of Sll,J62.10
Tn" Iutd ,lG tanks Is seven, all In Cali
f.rNia. with capital paid in Of S3,6oO,00O
t,YI, on deposit. s2.T3T 800; circula-
ton issued. S2,34S, 100; circulation re.
deemed. Sl.l@S..60; circulation outsrand-
IN, $2.l50UO0. Onc gold bank was organ
IT,! IN Massachusetts,, but il has been closed.
Tn. total circulation outstanding on No
y,.i!t"r !, 1874, including the amount (Sl3,-
I@,uy4 due TO thu banks for mutilated notes
t..troycd. WAS S35l ,927, 246. leaving S2.0I2,-
-: Vet 10 he issued of the S354 ,OO0, 0W au-
t1orlrl. The amount OF circulation still
t..r 10 ua,ion4! banks is S3.IO7 900. Appli.
cations have been made for the organization
o.. ,.X,y.f5ur other national banks, with a
CAPITA. Of Sj,1i0,000, and circulation
amounting 10 St,j00.000 has been assigned
l. :uy,r proposed organizations.
The amount subject 10 withdrawal under
,rt .otl> and 8 Of the act of June ~, 49, 4
+. safes having more than their proportion
Of circulation is Is follows: From four banks
u Nvw York city, Sl,3sS,53S; seventeen
bank, in Providence, S2,SlS,100; fifteen
banks il Connecticut. S3,03i,020; thirty
r.,a; banks in Boston, 81. S53,I50 twenty
uuk> in Massachusetts,, 5000 225; four
banks in Vermont. S599.G00 four banks in
Mime. SOS 600: twelve banks in Baltimore
Mj.. -. 9.S.G: one bank in Delaware
>."' 80; forty.our banks in Pennsylvania
:",",1.l1J: eleven banks in New Jersey
:'>n.ooO; amount OF circulation remaining
tn.>>lj"d aud amount 10 be withdrawn, a;
stated IN page 8, Sl6,219, $50; total, SAT,
%i1,143.
III" aggregate amount Of circulation at thu
G.,t'r>4I. or hereafter 10 be placed at the dis
lJ>AI 81 the Controller for redistribution
among the States which are deficient, i;
therefore 81 $50, 143.
LEGAL-TESDERs.
Ii" amount Of lega!.tender notes AL
iAyglA"d is S3S2, 100000; the amount OF IA
I'nal bank notes, Sod, 100000. The amount
u' cGil.tender notes under the act OF June
-. 1874. cannot be reduced, but must re-
H.an continually in circulation. The amount
.! DNilOni bank notes, however, may be re
H@egu 1T the pleasure Of the banks. Ii the
value Of the paper dollar be determined by
liz amount of such money III circulation,
t-cn the nation. bank-note Is more valuable
;A.n the l"gal-tender note.
Inc national bank.notes outstanding are
s"rUr"d by deposit Of more than $780,
i@1,pQp Of United States bonds, which are
i premium Of more than twelve per cent.
l. IA tnited States bonds be not OF suth-
cent value TO pay the notes the capital and
surplus Of the bapks, amounting to $751;
H'V,DoO. II, well IS their entire assets, are
available for that purpose. The stockholders
az Individually liable for the full amount OF
'4e.r stock, in addition to the amount IN
VESTED IN such shares, and the United States
.t''anlces the nnal payment OF the notes.
mere are, then, absolute assets for more
t4Au three times the amount OF the national
01Ah'notes outstanding, available for the re-
"'mpllon Of these notes, and in addition the
couiugent liability Of the shareholders and
;.v Guarantee OF their final payment by the
,htrd States. 1t is certain, therefore, that
'4' aeiAaud for legal-tender notes in ex-
'I'uic Tor nutioCal hank.notes is not based
VI III" conviction that the former are more
'4.1Abe than the latter.
REDEMPTION.
OA lhe subject Of redemption the Con.
"oi"r say; no real redemption can be