New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-21
THE PROTECTION OF DEPOsITORs.

TIE TREASURY AS AN AGENCY TO REPORT ON
THE STANDING OF BANKs-INQUIRIEs AS TO THE
AMOUNT OF COIN IN CIRCULATION.
IBY TELEGRAPH TO THE TRIBUNE.i
WASHINGTON, March 2O.--A Subcommittee Of
the House Committee Banking and Currency,
consisting of General Ewing. of Ohio, Mr. Chtten-
den. of New-York, and Mr.. Hartzel of Illinois,
called at the Treasury Department to-day,
and had an interview with Controller Knox,
Treasurer Gilfallan, and Secretary Sherman,
for the purpose of ascertaining the amount Of
standard or subsidiary coin in the different
banking institutions throughout the country
National banks saving banks, etc., so as to ascer-
tain the amount of such coinage actually in the
country. Controller Knox said that the knowledge
at his disposal outside of the National banks, was
not sufficiently definite to enable him to supply the
desired data.
Messrs. Ewing and Chittenden left for New-York
this evening to be present at the weighing OF the com
in the Sub-Treasury in that city. The committee
designs taking steps to ascertain the data which
II sought at the Treasury to-day by other means,
such as sending out letters of inquiry, calling for
bank statements. ETC., as it is of the opinion
that when proper offsets and deductions for the
sinking fund interest the public debt, ETC., arc
made il will be found that the Secretary OF the
Treasury has not Oh hand and available for resump
ton purposes even nearly the amount OF S45,OOo,-
900 claimed
Other questions asked by the committee appeared
10 point to the adoption of new legislation in rea-
hon TO banking institutions and the thorough pro-
lection of depOstors.
II is well known that there are numerous COM
mercial agencies throughout the country which
have branch houses in almost every city. These
agencies ascertain for their correspondents, for
email Fee the solvency of any institution with which
the correspondent does business. or concerning
which he seeks information. Many of them, more
over publish printed lists in which the sovency oi
business firms is set forth at stated intervals.
The questions put by the gentlemen of the COM
mitee tended TO show that was their intention to
prepare some bill which should provide that all
banks savings banks or other institutions issuing
notes. or receiving deposits of money in any shape
whatever, whether for safe custody merely, or as
deposits drawing interest, authorized by State or
Territorial laws or charters by the General Gov
eminent shall be compelled by law at brief aud
regular intervals to furnish the United States Treas
ury with minute sworn and attested statements OF
the exact condition Of their affairs; furthermore,
that these reports shall be coated, entered and
arranged TO date that any person throughout the
Union who desires To deposit III any bank or banK-
ing institution may by letter or by personal inquiry
at the Treasury, obtain categorical answer Which
shall be as far as possible an eXcathedra OPINION as
70 the solyency of the Institution in ques0on. Any
depostor who may he in doubt as to the safety OF
moneys which he may have in any banking instltu-
ticn can also by such inquiry receive umely "afh-
ing of Its true condition. E,
This proceeding points to the initiation of egisla-
ton for the protection of individual deposl!ors In
banks and savings and trust institutions III advance
even of existing laws In the same direction.