The Iola register., 1880-12-03

destroyed
in Chica-
Totals s:42 C63,45l ss46, ,6sl ,Ol6 $6ss.s4l. 46s
The aggregate amount of both kinds OF
notes in 1879 was $6Sl, sis so, and in 1Ss, $685.
33, LII. The law provides that after specie
payments are resumed the National Banks
shall not be furnished with notes of less de-
nomination than s., and in accordance with
this provision no notes of denominations OF
81 ard 81 bave been issued since the lst day OF
January, 1879. The amount of ones 'Oulstand-
lag that day was S4,7g3,sl7, and OF twos, 81
y2s4 $50. Total, S7,7lo,747 Since that date the
ones have been reduced $3.50, ,355, and The
twos, 81, III, go, making a total reduction Of
small bank notes of s., 219,0s5 The amount of
tegai-tender notes of the demon. la:iOn o. one
dO..ar outstanding at that date Was 81, lOJ
and of twOs, S2O,Oa5, Tolat. $40, ,2JS 64. The
increase since that date 10 November /, 1850,
has been 81, ,49l, ,5St.
thus it will be seen that while the small
notes of the National Banks have been re-
duced more than four millions (S4,2l9,O ,O25), in
compliance with the law, since the date of
resumption. the Iegaltender notes OF t-e same
denominations have been increased s., 49l. .54.
The total amount of these denominations of
both kinds outstanding November !, 1850.
is x47,2S5OlO. The total increase during the
year is 50, 3G5 $50 The decrease during the
year previous was S3,649,45l. OF the entire
amount Of National Bank and legaEtender
notes now outstanding, nearly seven per cent.
consists of 81 and So notes, more than thirty
one per cent. of ones, twOs and fivcs, and more
than titty-eight per cent. is in notes of a less
denomination than so. and eighty per cent.
Is in not.s of a lower denomination than $50.
Of the entire issue, about twenty per cent.
is in denOmi.. .at ions of $50 and upwards. The
amount of circulation of the Bank of France
Januai ~, 1873, was $4j3, 19i, lG6, showing an
Increase between that time and January g of
S., 107. The Imperial Bank of Germany is
sues no notes of u less denomination than
$50, and the Bank of Frahce issues but about
g., QUO 0JO 81 notes of a less denomination than
IS. The Bank of England issues no notes less
than $25, Il I'D the Banks of Ireland and Scot
and none less than IS. The amount of cjrCu-
Iation in this country in denominations of IS
und under was $2l4, ,32d,S ,S}S November !, 1850.
in the foreign countries named large amount
Of silver and gold coin of the lower denomina-
tons enters into general circulation. 1t will
be impossible to keep in circulation any large
amount of small sOd coins or silver dollars
unless the coinage OF the latter is restricted
and the small notes withdrawn.
The total amount of United States bonds
held as security for circulating notes on the
1st of November, 1850. was SS9,74s,a58. On
October l, 1855. the total am ount of bonds held
for this purpose IS !.6, OF which $780,
S97, $50 was i'm six per cents and $.6 IS. 800 in five
per cents. On October l, 1870 the banks held
$s46,Sl1.ioO six per cents and Sl5,9l2,55O five
per cents. Since that time there has been to
November l, 1870, a decrease of $lSs, ,2ll.55O in
six per cent. bonds AMI an increase of $51, 49,
zoo in five per cents.
The banks now hold 81, 1855, $50 of four and a
half per cents which have been deposited since
September l, 1876, and $1l9,O75, 100 four per
cents which have been deposited since July
/. 1877.
During the year, $19, ss43, 800 four per cents
have been withdrawn, chiefly for the purpose
of realizing the large premiums on these
bonds, and 81 37O, $50 five per cents deposited,
which will mature in a few months. The hanks
still hold 5000 six per cent. $50 bonds and
$536,9O five per cent. lO-4O bonds. upon which
interest has ceased. They alse hold $l46,55s,-
$50 of fives of 1881, which are redeemable the
1st of next May. and s2.O46,OOO skies of 1881,
payable the lst Of January next, and $50 49,
LEO skies of 1881, which are redeemable the LIST
OF July next.
All OF the five and six-per-cent. bonds now
held by the National Banks, with the excep-
tion of the Pacific Railway bonds, will ma
ture on or before July ], 1881, and will r-ob-
ably be replaced by bonds bearing interest at
four or ~ per cent, or by new bonds hereaft-
er to be issued by authority of Congress bear
ing less rate of interest.
The amount of bonds held by the National
Banks November l. 1880, was $4Ol 36a, $50 and
the amount held by other banks and bankers
of the country in the above table is $22 O5a 104.
The total amount held by. all the banks ard
bankers Is shown approximately to be more
than One-third Of the whole interest-bearing
funded debt of the United States, as follows:
State Banks and Trust Companies. l4y8 60l
Savings Banks. kS................. lS9. lS7 8l6
Private Banks. ............ H,38668i
NatlOnal banKS.... 4O3,363,S5O
IOtdl 1851. slS4
The increase in the net deposits of National
Banks during the year was $lS7,3S5,075: O.:
savings banks, 81, ,50s. .296; Of private bankers,
81, .6sl; and OF State banks and trust COM
panies, $6l, ,7l3. 76l. making a total increase in
the bank deposits of the country of $as6,3s6
815. The total number Of National Banks.
State banks. savings banks, private bankers.
ETC.. in the country June II, 1850, was 6.S2
with total banking capital Of $65o, ,Oi9,AN.
and total deposits of S2,2l9, $500.
The Comptroller recommends that the Lawn
now tn force be 20 amended that National
Bank circulation shall be redeemed upon a
percentage Of notes outstanding; that banks