Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1880-12-01


Totals .s342 o6s, 451 s317 0e $689, 74s 467
Deduct for Ie-
gal tender
notes destd
in Chicago
ire ....... .. 100000 100000
Totals s842 O69, 451 s346, 681 016 s688, 744 4s7
The aggregate amount of both kind of notes
in 1879 was S681, $50, and in 1873, $685.
| 333, 1877.
! The Law provides that after specie payments
| are resumed national banks shall not be fur
! nished with notes of a less denomination than
| IS, and in accordance with this provision no
| notes Of the denomination of one and two dol
| lars have been issued since the first day of jan
! uary. 1879. The amount of ones outstanding
that day "A, 817, aud OF twos So, 1924, $50;
total. ST. TAI. Since that date the ones have
been reduced 50, Sol, 1856, and twos 81, III, $40.
making the total reduction of small bank notes
| $4,219.9 25. The amount of legal tender notes
| of the denomination of 81 outstanding at that
date was S2O, 257 ,109, and of so 820,035, 525;
! total $40, 942, 1854. The increase since that date
| to November /, 1880, has been S3, 491, 584. Thus
| it will be seen that while the small notes of ma
tional banks have been reduced more than four
millions ga, 219,025) in compliance with
the legal tender notes of the
same denominations have been increased 49,
! 491, 584. The total amount of these denomi-
nations of both kinds outstanding November 1,
$780, is 81, 283, 940 total increase during the year
! So. 3G5. SIS. The decrease during tue year pre-
viCus was SO, 649,451. OF the entire amount of
national bank and legal tender notes out
standing nearly per cent. consists Of one and
| two dollar notes. more than 81 per cent. of ones,
tWos and tyes; more than SO per cent. Is In notes
| of q less denomination than $40, and 80 per
! cent. is in notes of q lower denomination than
| $50. Of the entire ISSUE about 20 per cent. is
IN denominations Of $50 and upwards.
The amount of circulation of the Bank of
France, January so, 1879, was S458, 1874, l66,
showing an increase between that time and
| January 49, 1880, of Sc, 100.707. The Imperial
Bank of Germany issues no notes of q less Ge-
nomination than $780, and the Bank of France
| issues but about two million dollars in notes of
a less denomination than IS. The Bank of
| England issues no notes less than $685. and the
Banks of Ireland and Scotland none less than
| SIS. The amount of circulation in this country
| in denomination of &c and under was 1914, $685.
| 833 III November /, 1880. In the foreign coun-
! tries named large amounts OF silver and gold
! coin of lower denominations enter into general
| circulation. 1t will be impossible to keep in
! circulation any large amount OF small god 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 security for circulating notes
on the LIST of November, 1880. was
amount of bonds held for this purpose was
S276, $50, $50, of which $199, 397, $50 was in 6
per cent?. and SIG, 1852, 900 IN per cents. On
October 1. 1870 the banks held S246, 891, 300 in
6 per cents, and S95, 942, $50 in 5 per cents.
Since that time there has been to November |,
1879. decrease of $185, 211, $50 in per cent,
bonds, an increase Of $51, 137, 200 in per
cents. The banks now hold $35, 1886, $50 in AZ
per cents, which have been deposited since Sep
tember l, 1876. and $119,O75, 100 in 4per cents.
During theyear, $40 "a, 300 ma per cents. have
been withdrawn, chiefly for the purpose of
realizing the large premiums on these bonds,
and 1922, $40, $50 in per cents deposited, which
will mature in few months. The banks stu
hold $4,000 in 6 per cent 500 bonds, and $685.
900 in per cent. 1910 bonds, upon which ip
terest has ceased. They also hold $146, So, $50
| of SIS of 1881, which are redeernable the LIST of
next May, and $2,056,O00 of Is of 1881, payable
the LIST of January next, and S5o, 49,, $50 OF 6s
1881, which are redeemable the LIST of July
| next All the and 6 per cent. bonds now held
by national banks. with the exception of Pacific
railway bonds, will mature on or before July L,
1881, and will probably be replaced by bonds
bearing interest at 4 or AZ per cent.
or by lew bonds, hereafter to be issued by au-
thority of congress, bearing less rate Of IN
terest The amount of bonds held by ational
banks November 5, 1880, is S403, 1863, $50, and
the amount held by other banks and bank 3rs of
the country in the above table is S22S, 053, 104.
The total amount held by all banks and bankers
ia shown approximately to be more than one
of the United States, as follows:
State banks and trust companies. "a, 1876, GOA
Savings banks. .................. 189, lSf, S16
Private bankers ................ lf,5oo, oof
National banks. Observation-Disclosures. 403, 1868, $50
Total. 1851, 422, 454
The total estimated amount of coin and bull
Lion in the country November LIST, was $751;
2S3, 357, of which 1854, or, 030 was gold, and
1858, 271 1927 silver.
The amount of gold and silver and per cent.
of each held by the United States treasury No.
vember /, 1880, was as follows:
Standard dollars. ...............S 47.O84, 45e
Other coin and bullion. .......... 5U,oiZ,o0
Total silver. .................S W,15I, BIT
Gold coN and bullion. ............S 14O, 725, 95i
| Total coin and bullion. sp2lS, fS3, 26!
Per cent. of silver 1885, per cent. of gold o.
The amount of bullion i'll the Bank of England
October, 1880, $141, 637 900, and in the
Bank of France October 20, 1880, SIG, 900
The per centage of gold held was 31.7, anC
: silver 6S.3.
, Statistics show rapid reduction during the
last two years in the amount of outstanding
circulation of banks which have ceased to dc
business, and indicate that the final loss upon
notes of national banks will not exceed or l Is
per cent.
The increase in the net deposits of national
banks during the year was S187, 1886, 075; OF
savings banks 1884. sos, 295; of private bankers
S42, 749, 1884, and of state banks and trust com
panies SCI, 713, 761 making total increase il
the bank deposits of the country of S326. 35e..
815. The total number of national banks,
state banks, savings banks, private banks, ETC.,
in the country June IL, 1880, was 1852, with q
total banking capital of $3.50, U49 800, and total
deposits of So, 219, 1888, 800.
The comptroller recommends that the law
now in force be so amended that national bank
circulation shall be redeemed upon percentage
of notes outstanding; that banks in operation
shan pay their proportion of the expense and
| the remainder be bolne by the government.
when alone receives the benefit and should
therefore pay its just shares. The government
has for the past 10 years annual received an
,, average of roore than three million dollars OF
taxes upon deposits upon q system unknown
elsewhere, in any other country, and it ~ GER
tainly but Just that it should bear the expense