The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-12-01
OUR NATIONAL CURRENCY.
Why TIM \ iTIONiL BtNHS SHOULD
NOR M ABOLFsHED.
The Repor, sf the Comptroller Of the Cur
reucv-Au Exhaustive Review Of the Nnrl-
eus Theories of Political Fiuanciers.


sus Theories of Political Fiuanciers.
wAsHrsGroN. Nov. 31--The following |
arc extracts from th, forthcoming report Of tho |
Comptroller Of tho Currency;
One q ths ptincips objection. urged seanst the |
The expense o. he GSSeraSent. The reverse Of this
nopC SS Ss n' S. Sa sos
fo@sS.on SS S Of l'Ss s S S1~S 10 IRON s
cav. should the national system be unforin.
ssS M cnce ,ed h sSe fpcS 0Ui he so
yson imposng tsf Of ten per cent, upHn TIC is,nss
to be one of iSs eompchsa,ons OF the war very Gro.
fvsG 6y Ne national banks from their eltcSlsoa bat
10 snow ,sa, = me prom ~ from h soSso no as
% ,ake Into c9nsdsrs,2n the sn,onps o. espi,i
required seeurr their rrcylson. with The legal re-
pare the combined income received by them their
bonds and eiIcu alton with that which would be re.
ssse security eT ir.e irs% hs re:s,c,sS: ;s.ts
on deposit with treasurer security for the cir.
a. se Of poHSs q, Tiek ,Ss eSs
this sum be deducted the amount he'd security for
ss nStSs siSs. 9 S
e sea Yo ss rt SP2n Ia pe eSreac, eS on the
dsT nsn.ed ti95 sIo SKA
esakns system sist Is dyiosad. d 70 siSci69lasI'
Ii is true that some SstiinsI banss wh.c6 nave ac
SSnS acs.. vssSr Ss eropSItob Of ss
/. capa sge Or at rate ofn,ere,t as high ss ia toe
western nnd NOuinrrn StalFss no ufclAFe lHsf hN.
ocnds Dul IL knosn tha, as rqle the rates OF
ttre1 charged on r,mn rcia pApsr ~ "a. a., satSaa
charged by state Oanks private bank esand
ao no se rule 'xceed 6s more tHaa wc Der cent
ss rs aa S ss,' , nsn e I ~ p 6s
Is surely not TOO gro.t compen a.on iot ,ne fsss &
Is not sibect.
now KELLoGG's PLAN WOULD wonK.
Ithas been proposed to Withdraw the nations Oank
sT, d $40, s9 @ o spa to aSfi as TO Be-
pssrSs in;srs:s Al Ts,. ' &;
retesl all sots endns TO re,unp.i9n on psyineat 10
apy. in eaeh.nse Tor the sSS notes, are 10
SssS 10. M s M % s %
Of Eco "a 1873 authorized the issue OF Treasury noss
rate o. one cen, and one.hsi ceni per day; ITO DC
Se AL M 'se o Oi sStSsd he e Of small
Treasury notes. which were eI shsnseaS.e r. sums Of
A. seven per cent. bu, sesrstary Dallas say It
y noree sSeI iuncsS. at "a interest % q SH prr cent
tnouga OF convcneIt denomination for comm USE,
sued" The txeeriroes Of 1915 viii n. rere tc vin
es 100 Hce, re nsrs, Ssirss s @ .e not =.
nj: .as sSs s. .S,I .S,s5
weTe ;asa sus "a is cSs s 81 n az
sSeasnsed s. to1 tSs @ lncss a. .oSS a. Issued Too
s I ga .susS s 10 & sBS j MY Sues es
Ie converted into sro 6bGeks. snl these Win me
BANS ana Ssnscrs Of The iouatr, Yin be sgeecii cI
ehsnscG for so5 no,cs. rnesc iatser not [. ~ De
psyment Of bslan;e. and arye proporiIon II the
se. s 1SsS ne S s The whe a.
of these bond, will soon DO in deniana.
COSTLY EXPERIMENT.
u ss s%pDnt @ o. he ntsres, sesT1s 81 M mote. e' limited
Ssa ,Ss ,aSg. % q .ss
cent ooad. Will es i9oo 900 90 rhis .um NJ
!Sss 5000" @ &c 9,r.s I ' PPsaS amt OO9a Rai
smsua. Of s'n u,oas., a s.sed uOn TUE ,sScoooo5 Of
% bonds retired Ni be $50 90 hls Sas ln.,Ie.
Rc'S 70 E, Ga,s1 nGia Wy aylns
ss.g00o VIII lo,l. 50 "a, Instead Of saving
men' be- ne'I,H ,..u. 1n' ,Y'H a, no's. al
| be increased " an amount equa TO that OF toe
lrg!i tende. q national ON no,uS eGnaine! tae .s
than before stated but qlal 10 A. last s2Soo1p t
proposed Spetlent "a place Of sy'!em wach has eecn
result in ioss 20 hs Governni, n. nsesi Ola san.
THE ADVANTAGE OF THE NATIONAL SYSTEM
siace the organ!z toa OF tno na'ion1l banking sys'
tisaa. baaSs have failed viii TIA captaiof s0Oii
| loo snd with a circulation anou .uas 70 tas7Lsy3
of ;he natons nklng syste. mas shown taA IN
eaaSs s, ss I'M IN The ssaS Ss ~ the los oy
ills of osen banKs sione beng computed 10 have been
DO loss Whatever upon he circu atOl OF the NATIONAL
IS The as prcseSt H Avs .ss I rinn n orce The oH
si ~ s5iS q S Ss soahtns 9e IS sss7 nave
| teen pad upon these claims. and IL T. estimated lhN
in 1855 & VII III not exc exceed ssss5 ooD lni. toia iofs i.
lee. than that realize in more taan one n,,anes from
bSrns the PERIOD ns. S there sfssdy
Sea eso Of & aG Il IS the
Pq Der Os en-! SIX s ho GPa s'S ft e
nro.SyH SSs @ s.d 4, S S.s 20 20 Sss,ey@,1 csR %
Sapsss o. .isooooo & Jos Siys "'p' ID Seir Sspossors
1aI ne sm9S1s M,sS So p,a ush @ Sne
depostOI, IA, PAID ina. elias. q II, cIslIS5. W per
noahs M Of esas 81 SS
mentioned I, :. .ss sos upon which tas7s7SS have been
total amount Of Losses Si dspostors o2 hsen e.aEs
SS-s per cent upon iSo smSsn! q s.aiIa' pI9ssd
aeso s Seans SnS wSson ' os. OILY
essdct Of s's fsiHa @ ss as
sts. 81 al sn Snt IN the H wen We Ma
sta,e. At ts4ii;9 The largest proportsn Of los.e.
continued tiled throughout the entire period since
@ s'sss beng estimated S at ,aisooi upon ,Coss o Of
liabilities.
TuH PRoBLENs or THE FUTURE.
The monetary problems To he ,oiyed during the next
few years are The constellation. of the national debt
Into bonds bearing low rate q Interest and the Re-.
present nation debt into botd bearing 4s per cent
snnasy' While ise reSuc'ion Of interest fssStinS
s iS1dnS nsant od Tue TO S'Oi & 2s Sau 5 sS9'
and there. appears no good reason SSi, Why GuT, ;
BE- consohds,ed Into a bond bearing Interest al no
rae iSp es cent II be oss. % 20 e5
IN lis support ali OF tue leading monet.ry institution
Ot country. THIS assistance We have seen MAi
needed during the war of lsls and mas been needed
from the time OF the organization OF the Bank OF North
America until the present. HYs,em OF economy IN
expenditure, together with an increased amount Of rev
euue, win soon give to the country credit not
ceed that of other countries which readilY obtain
lvals ~ less than per cent.
TIE RIO GRfNDE RAIDS.
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