, 1876-12-29

OF UANK1EQ IN CHICAGO
The National Banks of this city, like those 'of
New York. consider themselves driven by the
pressure Of taxation to CHOOSE whether they will
retire from business OF reduce their caplnt. Two
banks havo nlscady decided on the latter courac.
The Northwestern National, which snmo time ugu
thItted $780, 600 from It's capital to ts surpns MAX
ing them respectively $500, COO md 81, 600, 600,
hus decided 10 distribute $500, 600 Of ite surplus
tnong the stotkholders,- and the Fifth National
NIL diatrihutn between this tI1nc and Apri1' l
$3.50. 600 Of tta 1utplus. number Of tho bauks
aaye stmllar notion under considerations, and be-
:oro tho time OF tho next assessment
comes round .lurgo reduction, Will have
been made In tho banking capital Of this city.
As no have before announced. the banks Of New
York have nlrcady determined upon awlthdrawalof
6l0 600, 600 Of their capital. Tho tmpo1Icy
of systen Of taxation TINT presses So heavily on
banking capltal becomes nclf-u,anlfcst when we
learn that atthcsc institutions aso planning to 10
as much buklness on their reduced capital M be.
1orc. Tho result can hardly fall TO bo that bank
ing will become less conservative and less safe.
snch result Is directly antagonlssic to public
policy and commercial prosperity.
DuLLtpN VALUE or AMERICAN SILVER,
n ne Editor ar The Tribune.
CmiGAao ngc =; r. La good enough g elye n y1ur
liz value ii onr silver doar ram be deicTmISu WISH
Tie London quotations OF st!ycr arc knuwM.-for IN.
saadarl wie eonpsae, liz ossiop. Pcaae sx
rla,n This. Yours truly. MANY REAuEHs.
The quotations III the London market for silver
afo ios bnlsoh OF tue Drlttsh standard. Which Is
b@o ahe. Tho silscr money OK tho United Ssates
teee lac Rosisea Statutes scca. q ol3 nnd ., bl4)
IL OF silver 600 Gnc. Any glvon quotation In the
London market needs to 10 reduced by ono-thisty
feScnth to give the value for silver OF tho American
Standard. For instance. when silver Is quoted at
bu.td m ounce In London, ns II has been hince
Fflday !ast' an ounce OF silver OF tue American
NIL fv-RQ n q
or a. o'au. Yhe paf OF sterling exchange being
that ponna stosi9ng ie worth In American gold,
aeeoruinG 70 tac Aw Of 81 March, 1872 s4. soo5,
thc Ens!'sh penny Of which there arc aal0 IN
pou' sscf'sses' is equal 10 so.u: and tho vnlao
OF IN ounce of silver American standard. IT, In
american gola' necoFd!ug to the London quotation.
sA:l14'. From thls point, tho calculation Of the
~ 0ul.ion 'a'Ho Oh mo s'lsef coins OF TIC United
o.a!es - o4hp'a ma1tct. lIhc Revised
s'asa!es secs D. o4a aha y, ol4 declare that two
VI louF 9"astees, or Ten dimes shall
eo"."' =" sfaHAu'e" VI st4Fef boo hnt. IRo
st"'n!ne ~ hrF FeAch unit OF weight. equivalent TO
10, 4'-a grams OF troy weight. so' dollnr In
naNes' W 9"us'e1s ~ W at'nea cohfa'as as'. a12o
Eln'ns ot s'Nef wv une, an ounce OF this nne'
nefs ~ nv" "o.ln' ueeotolns 10 inc Lonhon quota.
t'on as ano'e, sl-ll4'sn American gold; aErant
which Is the 1.4s0lh part uf an ounce, IN worth
ers, or dimes ia worth ls5. .s1.5 times as much as
o''e grain. OF ~. a'os. The bullion value Of tho
of the or Of 4g sans wou ~c S1 na an sna
ua,ssd Nv to ,o.s sus "Im .no san u.
ss Ssa ssa " sss s .ss sse
These calculations, II must be remembered, arc
based on thu standard pn. Of exchange not TIC
nirs' f"1ss ana 20 not .0ks account Of the many
po, p., ,,a, s'na ont 'afge IN the nsgFs
ml,,ou. stcrlny exchange i, noy hcn,v s'' NM ,i w.
ut quotation bctna IYJ!1614H5k In ornnr,ino
:oiu, losy OF weight nv nhras.on .nnA o,hs,,yIsoe
:l.arscs for TRANSPORTATION. Insurance.. rom,n,.'
!ons, utc, would all enter into tho question of ,h,,
ctuAl receipts feon, the sale OF any .lycu uuautitv
4 American Bilvcr In London, =.
uu. I,snruu4n nv rur s,,rr, ,,,rs-,.,
pr, Ludcrmau, I'll Inn cuursa NJ M I,,..v,,,,,
r|,[ch IN ful,y rconrtr,l IN N, a,, u....,"s.
fnyouicis OF Dec. H. attrbuted th, rivo ~ s,,ro.
IN tito heavy purchases Of colu winch ,hc 1!",.si
Itnsea Government l1as been making in tnn,,on n,I
On tho Pnciac slope, mid 10 thc rnor,nos ,1cnan nI
for silver In chua. The future Of tho sllycr uur
Ect would dopcl III. sni n,anv 'o ,,,o n.'t sat
lu,;on Of tic Cnltcd states and t;crnunv %
',Tlcto {. new" Ile conlluurd .,nnont g, ooo cco
worth 0t Iultitn Rtths tiut waii!n. to- IL conSsfci
afey ag, xi liz 4ss ;SsefxIt VIZ ISed .sr,.
Htr thu no !nars ircla.ss VII b ta.o aGtad Elou.
s;rf dsIuapa, II tha IL; T. sulSa for lho
Suol Ii LDirI ii fnT tho . iof MpnlIs InsFn i. "a
st nn ,S III .s a.'nn % VIII cons 10 sa
t.llkty 70 c.uEu.o SIS IL. Or alout bali
ts ne ahat .,t spaSr Il te ~Sr 70 ny ihlak
s"uniry. tEluE wc li.und Errp lis coI Ea.s VIII VIII.
H. 1a yc,r sssi 9s s"liHHn u.s s1nE tI.r amount
III runtry. Yl III uU Il. suf,. nnl rss sha Hi t
t., T. T. siissr rAsInshs u nIn,s amount
to. mid s,ot 81 tDts1 Il, xttnauat u ~, saiM,TY
ra:G tlss issc q ..i,r = co,partl Will a1i.
viii ,he J sr inctnl auu un tS ESu1 Hi ~ ~ 70 ~ aooa u
Wccsou'.' '',' "'S''
FRENCH sAvIAGs-nASHs.
The journal 0NcIe! Of Dec. IL publishes tho sta.
trlcs Of savIugsbunkY In Fruncc Tor the year 1874.
although they ars sathcr old they arc still Inter.
eating. "a furnishing tho latest complete Iri0rms.
ton On the subject. On tho 31st. Of December,
1879, ihc number Of authorized savings banks was
b.7. III 1aTi therc was an inc.eoso Of two, Tho