, 1877-12-04

RATIO or srEolR TO BanE CALCULATIONS.
ny References to this tafie I. vii! b. scra that
during the FIRST periot the ayeravc .; hp.cie To
circulation held 0y tue stnse s,lnk. wus :l,',s
at'A to rire,slntto" md decnst.s. 1s.p4t nt dur
tnE the second p-tio1. 82.l3 nnA l,;M c.prct-
trc1t. Tile ratio Of Hnttit ai teval,tcn.lryH II,
years nataea wa MOI. gld (" cfrculhtioa and
.letNIs1ts, tG.D per e1:,,l. Tho retart!s vi tho
etatc hnakR IN tle Ntw ENGLAND eta.cs aul in
the stats VI Nov York wsfc 'n"re regular mud
+ rcltlhIG tf'H t1ss,se VI the bsnka Ir nn3 otiItr
1o'tiou ot the union+ anu comparison between
tllc Slate banks Tor lhc per1Hl8 naH1rA with
the Natlunal banks for tho last eight years IL
gtvcn II, tho following tables. This sRxrtgatu
gland st4ts. from 1886 10 1S4s was la4, and
from lesJ to lS5s l5.y and OF spcctc to ciF:,,a-
tIon u uetosltA MD 64k balances 3rum lb5., TO
lsi., ll.", and y total liabilities. VA. Iii tho
aid i0.s. in .he New York stato bank. tho
aggregate Fatoe duElnR tho tfst period ,.rso
sE'5 and 1al. and during the secon1l rcrtAl 4t!7
end !: pr GENT ,ssl'.ctttsely. In the katenh
years the ratios wsru li3.4 to circulation, md
~ to circulation deposits, nul bank bai4nceG.
IN tho Now York City banks for s:x years, fsuua
tx, to 1NAl, the saios Ut tho state banks wcro
:us. " ''~ ~@''"''~ "''~' 49, ~''''' ~"@
Tue National Banks arc required By Sec, 6179
Of the Revised Statutes Vt tl. Uuttrtl nt.tcs to
pay their circulating notes on dutnand, and by
scc. i Of the act IT jung ~. lt'a to keep md
lsave on deposft IN tho Treasury Ut tho United
ftates, tn lawful muncy Of tho uutcd States, \
sum equal TO rar cent If their circulation, to
b. hsla aai u1e;' for t,s redemption Of n,en
shall bc redeemed in cotn the banks vii! also ID
required 10 rrdcrm Ia cuin " In such unlcs.
THESE uotts will then beeuTno coin certificates,
nnd witt b. more convenient anl desirable f'e
gcaernt usc ttan cosn, for tho reaaou that tho
ctst vi thetr transportation will hu loss thau Of
specie.
STRENGTH or NAtIoxAL BANKS.
Hxtll ',v seen that the average strength Of
tha Nattona! naui4 fot the taat eight ycars Is
ptrtots nf suspelalon atrl rrsutuptlua lu for,ncr
times, and, II resumption IL 70 t4kn place upon
my hEca datc. tlu National lsanxs will to cer-
tas: ~ mater ct ptscatton TO .t.ruEtsu
y cannot be doubted, therefore, tllat the Ma
eiutIal 5anks Will bt prepared Ia redeeiu their
circulating notes vt ai1y daso Of resumption
which NAY be a;e'l upon. but willie Il IL s,i'
their circulating notes. 1t Is said tliai 1t viii bo
i.npt,sslbsp lor them to provide u tue parua way
for their depostts, 1luso who take this Yier
proceed OIL tho assumption that ths banks will
be called apuu 10 pay their depo.it. Ia specie.
THIS WIS mt truu during auy inrIner ptrlo.t Ut
specie PAYMENT aud IL lees llkeiy u be true u.l-
drr thu national banking system than 1t waa
bauks III this country Irom their irst orsanI1a~
t!on hafc, IN tlac4 OF resuIa ptIoh - we'll II Ut
suspeuslon received frul1l thslr dealers c4trctIk
bank Aotes, alll have paid Out thr same. Tha
I. trus to.lay tu England, acutlant, ueralanY,
al1d Fsaucc, tn ail Of Which couulr,et tue b4uk
mute IL presetretf, ~ rule, to either
gold or silver. Only = s.nali portion, Ut
tha bank circulation Ut tbe country, ut
Any period prior " ls,3, was either sale or cuis.
yertfb1e, aud thu losst4 to tue hulders VI
b!nk'uutes Is Estimated to b4ys been not Ict4
el!an pcr ccEt annually upon the whole aInouns
VI circulation outstanding. frt cvcA this cir
cui.tiois, pour anu dcfcetlss ps It Tas, wa4
freely rccelset BY the oauks an1 ~as pal out
BY them tu thets dcpui!toEs, - closely lQcut!!cd
We1o tue antctrsst VI tAv cue With thu otnrF.
Tue NOTES NtlIth MeEu retuFlell from the COM
llsrclnl csnkEes for redemption were Iculllly
paid OUT aud circulated " holus, aud tlc DIS
M2lld Tor specs Wherever 1t exlated Wa4 almost
entirely uW!ug e'ttlct tu Ill c1eeaa ol cur,envy
or tu y want III CONFIDENCE III the Masttutjun&
which Issued It. li!c PEOPLE throughout tho
ca'1ntEy LON know what, prior to 1s1 lhfy could
not KUN, tyr u wAs nut tlrn u ue, that every
hank llotc Is sale bcyuuI l'erAIycntuGs; aA1
that II these notes aSe hut paa ~ thu euulter4
ol she aHinEt Mtsish lssue4 ts!tn4 they will bo
p1'd II III. Treasury Department In lawful
money, aud that the securities held thercfus arc
aa2ly suiLei:ut for That pprLo.e. No 1c4..u,
theI ators:, exist. why tic ~ ople- e-Ehv 4Ava Not
during tic last luAEtcxu years luat une dollar
thruuGbAhe use OF b4uk .uote&-s should de1ltua
10 teceir4 payment Of their deposits iu 4ueh
liutes. fncsr Iutss ure uot only EuAfantecd by
tas Dosetnmsyt. but tne{ w sesrfed BY It la
ultics gu lmpokts, aud are 1iahu1ted BY II III
pAYnept VI all demands except Interest ou tho
public dehE aud in tho redemption ul NAttoual-
Bank no&es
Tho h4uaa4 Banks hala Ssso. OK, ,ooo ot loAna