New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-12-07

NOT available A. cash for general purposes 10 womb Womb
he cointd to standard dollars aud that any uriner
fractional coin hereafter needed, shou contain SIrer
~ anprnximate relative value to The standard CON- Inv
nominal pront heretofore deceived from TINS CON lRc ~
quite sufficient 10 cover he cost OF TINS cs'TE, ,iS-n
so respectfully snggeaod a the act OF July ~ 90
shnul b. repeated. Waen fractional coin IL ssnrd as
money 1t Should be treated like otter coin, 10 pe re-
ceivei nv tne Government upoa the same conditions "a
By the people but not. Ike paper money 20 Nv
deemed. II it must he caSscd as money 10 ne reuerm
II should be supported by reserve ike other rcucc
NATIONAL BANKS
Tho report OF tho Controller Of the Currency con ans
much information in reference to the National banking
sysem and gives tables showing tie resources ana ia
buies of the National banks from the date OF their or
gauizatIon TO the prescu time and also tables showing
me number capital and deposits Of the state panss
banks and private bankers OF tue c"u9l, ~
states and geographical divisions, FOR series O years
THE capi.al stock If iuonai banks on october L.
1850 was S4j7 553,sjO; surplus - ~ I0.3so' anu
The total circulation outstanding sJi39lo,SV5. -, ,,o
Naiiona banks organized in eyer state OF tne rue
9i"zona: and the to al number IN operation IS 2O99
when greatest number that has been IN op'r"'o"
TGe Controller deyotcs considerable space to the
discu the operaOns OF the Napna pahk5 SIN
lie date OF resumption Of specie paym' s. and inc
evils well as the oe"ehs whlch are ihGy ~ us ne
from the large addition OF cJln To inc cirou"uuE nc
dunn made since that GATE. 90 600 ooo
the cautal Stock OF the National banks ~ ~ 1OOOVVo
less ana the surplus nearly Sl4OOOoOO less man ~ l9
corresuondng dare In 1879 Inc loans Of tue p.uks ~
the dale OF their last relus ", re- 10 VVOUoU' u
Inc inoiyi0uI deposits TS73OVOOOO the nsuesl p'u,s
reached since the organz atom OF e - sem Tue nuns
belue 1907 O00U01 greater and the lnd{sl' tsc
y253OOO,OOO grraer tnan III OctODer - VIZ ,r
| capiai AID surplus az INC previous o"'o "oi'
The individual deuOslts anu lhe pup., ~ rts
bank deposits dcduciing the AMOUNT dur rom paubs
inurc than 1922 900 600 aud amount 10 the
| unprecedented sum 81 - lj3 OOO'OO0 -
1hc Controller state" mat the apuuuance oi LII, &
ara the lo rates Of interest, nave maze 10 dhct Iof
cp llss hrd satisfactory Investments ana t1i ue
ssGes or ,Sc ca's ed dcnsis Tge amount Of tar
! hank IN NlM
and 1880. 1O.S per cent OF tno c@p,d suP US anu
is77 81 Ger cent ana u 1870 651 per and the
loans prOport Onauy hSHrF IMAM Az any tiiht
siuc, 1873 Tle resources Of the banks ~ the oiDcr
prucpal cities The country shown BY their reporis
Tor Ociobrr last 10 nave been hcn more iuy employed
thnn they AT tie corresponding da.cs Tor zoe 8
icylos ycrs although t1eir business was nor 50 uch
ndod ss y was curing ne Tour years soi. Ws i
inc country districts capital surplus ana net ne
on October J. ~ yer cent Its' u,h ~ wI az
me CORES ronilhg GATE III $50 anu o. Prt ,y H.,
! than IN 1877. The Opportunities Tor using money in
TINS group banks Is MOI Ia proportion 10 TIE increase
OF deposits ana hrf balances III o'"cI ms "''
| by no means diminished. ,,.
rGe tahI.s given by he Controller show that during
tho ls Two years. loaus of the banks IN me y "t
New York have been EXTENDED To much greater degree
ronry and that cash reserves of he banks III NJ "
YORK have been unprecedented low Nmc lHe a-~I'
ge lawful money reserve has, ~ Tar rs known, "l"dNs
vo,p " some Of the b ms expanding their loans
upyoud reasonable linn aud rely ing upon imports uI
gold and p OF 90 Gs by the Treasury TO repenSh
Te net OF Jnac 20 IS7t repeated the law requiring
reserves 10 hcla CIRCULATION inns largely reduc-
mo fhr amount legal reserve repaired Ine enormous
iirr ast Of iudiy!. aI anl bank deposits during INC
las var s'ould NOT m Jtuicd "itna pOp? tioHal
increase OF loans since sich Increase would ~ Is 81"
icvc nave Ell Ct Indirectly 9f ncrt1snG t9e mar
kct pr OF many RAJ ROAD ana DINER SOCKS ai 9Snu
largely beiO "a theli actuil FHuc. TX S"nA' ~ ~ ".
Yorl fltv nod more than 7loOOOOOoO OF the fuads OF
othet banks. which are pa,ab on demand ana u Is OF
the greatest lmpor arc 'hat 'n'! S," o." ' W m
exhibit ~ eat strength u they WOud keep hem CIV III
! co don tor an adverse balance OF trade d Tor me
ID, OF those tea who cOutle IN them.
rlp Controller plyes some Interesting tables Showing
tne an o. lam Of com payments and on November
of The present ear, Together WI, me amount % cOl
and currency IN the Treasury and n the ba KS ana cue
amount la the hands people outside OF these DC
! post rcs. from when II WIN D. ften that WHO tu9
monuf ~ the Treasury and IN the Oauks mas increased
NOR ihan LOCO 600 curing tnat period. the amount
III the OF tue Utope has also increased more 'n
F. ~ gratifying exhibit in the condition OF the
tt,nol .k /. thar they dong nusi less upon
srrr. bq.I- tine amount golI coin held Oy the Ma
uoarl uauks lavug ncrcas "a nee me d." % i9i',P
] aOoit SIS 100000 e>' than the "hoe c"SA reserve
I Tt9nai INKS mold nearly 5000 600 900 o. United
State, uds, winch VIII mature on Oh beioIe JIN next
The whole mount OF Uni ed states boao- heid py me
Nauonat hanks security Tor circulation ana Tor oHer
purposes is slO3369 800 aud the average amount OF
capital invested d. tne 91ao nn"s' . r. 80 a. ga
a. shown by the returns 10 THIS Department Tor pu'
poses u axation, Is $-2S'oo3'lol making 'o''' u
Ta it npon crculation TO he National banks at
no 10 exceed y pcr cent upon The cnpIa invested
aud be amour oi state ana Nailoha lbN Is uloI"
| than Der cent upon the amount ol ciicualoh
Tnc uarks ana bankers OF the country have com
planned t.at ihe take, upon DinS deposits ana b'iia
capi Il since the passage uf the hrSt iutrrnalrrV'r
ACT have greatly uIspropOfiluncl 10 thr anodh
n,it br other classes Of property aud II would seem
mai ID. time has now arrived. nereinbefore recon-
mended when Congr. IS might Or fS tcpca an 'uNs
en- capital and deposits. retaining the present TAX Oh
The Notwithstanding sy stem has July realized all the
expectations of its iouLdeTs II has iurulsheH r'iS
| curr.nry uniform circulation, carefully guarded
against couutcI.ctng prol,ci'd ~ ampe re- a,
promptly redeemed Du nj thc othA' anu inc
Ne other rs alton IN spc"t 20 these important corpo-
r,tlons seems to be required the prcseut session.
PUBLIC MONTYs.
The monetary Transactions Of the GOVERN ent have
been conducted through the offices OF The United states
Treasurer assistant treasurcs one dcposltary and
] 100 National bank depositarles.
Tn. receipts OF the Government, amounting. during
the fiscal year, shown ny warrants to Tol73iO-
! 7l3 90. wcic deposited as liows: In independent
Treasury Offices $4O1 30l lj3 81; IN National OanR Ge-
| posIiadcs, Sal 1853 5js 81. ,,a-,
year appear be 40 losses to The GoYefnnont ~
public officers engaged either III the receipt
or dis ourscmcnt o. tue poDnc moneys" II s 10 De l'
CRETE however, that the Apprehension Of loss
through the issue of duplicates OF coupon hunGs,
expressed by tue FIRST Controller in his reiort Tor
last year, has proven too well Iounded. upon
| ton Of a 5000 coupon bond. dupllcaie was Issued
several years since, aud subsequently redeemed as re-
| original bond presented intact by an Innocent
h0ldrr, ana. upon the recommending 81 ne controller
tive bus this bond the availability ofany existing
appropriation for thc purpose mas be questioned ana
Cong VIII asked for needed legislation 10
| cases.
! A.ldi lnuaI legislation authorize the refund OF
moneys paid into Treasury In ny receivers OF
pnorc mon IS, j, recommended by the First Controller
and meets with nv approval,
Toe coinage Of tne cent and 5cent pieces
was oscOn uued by the coinage act ot i ~ ana IN Il
of tie sliver 2Ocent piece by TN act ~ May . 1878
Since the act juno 9. 1879, providing for the ex-
cuange subsidiary CONS 'or lawful money OF the
Upltcd aes, large amount OF sItyer cOlus OF tue
abDS denominations has accumulated IN the
several sub reasup Offices These COINS constitute a
portion the Treasury balance, anc as thc' are not
paid out after beng received IN e1chanee l3r ia"
mi money, they become practically unavailable Tor
current use The necessary c-saton for ther proper
dsUogl al l. recommended
By reference 10 the tables accompanying this report II
VIII De naI, tuc ORGANIZATION OF the Govern
ment there been paid the Treasury to the CT Sc
OF the last year. SlS.J7O,34s,G47 % and that
there has brel paid out warrants ia consequence
OF appro riauns made hy Jaw, TO INC date the
sum ot $l5334.s34,20l 81; leaving uuc1pende!,
IL. nAnf.a A.