Morris tribune., 1880-12-02

inc November /, 1880, is $47, 2S3, $40. Total
increase during the year, $3,865,675. The
decrease during the year previous was $3,-
649,451, IS 9
or the entire amount of national bank and
legal tender notes now outstanding nearly Z
per cent. consist of one and two dollar notes.
more than 81 per cent. of ones, twos and
fives, and more than SO per cent. is in notes of
less denomination than $780, and 80 per cent.
is in notes Of 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 80, 1879, was $458, 1874, 166,
showing an increase between that time and
January, 1929, Of $6, 100,7 09. The imperial
bank Of Germany issues no notes Of less
denomination than $3.50, and the
bank of France issues but about
two millions of dollars in notes Of less de.
nomination than SIS. The Bank of England
issues no notes less than 1875 and the Bank
of Ireland and Scotland not less than S.
The amount of circulation in the country in
denominations of $5 and under was 1914
1885, 1888, November LIST, 1850. In the foreign
countries named large amount of silver
and gold coin of the lower denominations
enter into general circulation. II will
be impossible to keep in circula-
ton any large amount of small gold
coins or silver dollars unless
the coinage of the latter is restricted and
small notes withdrawn.
The total amount of United States bonds
held as security for circulating notes on the
LIST of November, 1880, was $3.50, 74S, $50.
On October l, 1865, the total amount of
bonds held for this purpose was $276,25O,-
$50, of which $199, 307 $50 was in six per
cents and $76, 852, 600 in five per cents. On
October LIST, 1870, the banks held $246, 89l,-
300 six per cents, and $95, 942, $50 five per
cents. Since that time there has been to
November LIST, 1879, decrease of 1885,, 211,-
$50 in six per cent. bonds
and an increase Of $57,1s7,2OO in five
per cents. The banks now hold
$3.50, 9S8, $50 four and half per cents, which
have been deposited since Sept. l., 1876, and
$1l9,O75,1 100 four per cents, which have
been deposited since July l, 1877. During
the year $19, 243 300 four per cents. have
been withdrawn, chiefly for the purpose of
realizing the large premiums on these bonds,
and $22,370, $50 five per cents. deposited,
which will mature in a few months. The
banks still hold $4,000 six per cent. FIVE
twenty bonds, and $526, 1900 five per cent.
ten forty bonds, upon which interest has
ceased. They also hold $146, 552.S50 of
tives of 1881, which are redeemable the
LIST of next May, and 49,
O46, 900 skies of 1881, payable the first
of January next, and $50, 432, $50 pei
cents which are redeemable the 1st of July
next. All the and per cent. bonds now
| held by national banks, with the exception
of the Pacific railway bonds, will mature on
or before July I, 1880, and will probably be
replaced by bonds bearing interest at Oh
AZ per cent, or by new bonds hereafter to
| be issued by authority Of Congress bearing q
less rate of interest.
The amount of bonds held by national
banks Nov. l, 1880, was $4O2, 1863, $50, and
| the amount held by other banks and bankers
of the country in the above table is $685.
| O53, 1O4. The total amount held by all
banks and bankers is shown approximately
| to be more than one-third of the whole in.
terest bearing funded debt of the United
| States, as follows: State banks and trust
companies $24.49S.6 04; savings banks $780,.
1885; private bankers $14, 366. 6S4; nation
al banks $4O3, 1863 800; total $685., 422, 454.
The total estimated amount of coin anG
bullion in the county November 1, wal
| $612, 2S3, 1857, of which 1854 Oh 900 wal
| gold and $159, 271 1929 silver. The amour
of gold and silver and the per cent. of eacf
held by the United States treasury November
1, 1880, was as follows: Standard dollars
| $47,084,459 other coin and bullion, $50,
672,S57; total silver, $77, Isl, 1916; gold coli
and bullion, $40, 1858; total coin ant
bullion, $218, 493, 1853. Per cent. of silver
80. 6: gold, ga. The amount of bullion il
the Bank of England in October, 1880, wa
BAL ,637 900, and in the Bank of Franc
October 30, 1880, $116,140,OOO. The per.
centage gold held was 31.7, and silver 60. 8
The statistics show rapid reduction dur
ing the last two years in the amount of out
standing circulation of banks which hav
ceased to do business and indicate that tn
final loss upon notes of national banks viii
not exceed one or one and half per cent.
The increase in net deposits of nationa
banks during the year was $187 1886, O75
of savings banks 1884, sos, 1895; of privat
bankers $40, 245, 1884; and of State banks ant
trust companies $61, 713, 761; making tots
increase in the bank deposits of the countr,
of 1926, 1856 ,815.
The total number Of national banks, Stats
banks, savings banks, private banks, etc., il
the country in June, 1880, was 6,532, with {
total banking capital of $3.50, 049, 800, AMI
total of deposits of $2,219,833, 290.
The comptroller recommends that the la1
now in force be SO amended that nationa
bank circulation shall be redeemed upon
percentage of notes outstanding; that bank
in operation shall pay their proportion o
the expense, and the remainder be borne b.
the government, which alone receives tn
benefit, and should, therefore, pay it's jus
share.
The government has for the past tel
years annually received averages of NOR
than $4,000, 900 of taxes upon deposit
upon a system unknown elsewhere in an
country, and it is certainly but just that
should bear the expenses Of redemption Q
those notes, from the circulation of whic
it receives the entire benefit.
The total amount of national bank note
received for redemption by the comp
; troller of the currency and at th
redemption agencies of the treasur
during the year 1880 is shown to have beer
5000, 1888, $40. The number of bank note
: which have been issued since the organizs
ton of the system is 137, 67S, 229, valued 9
$989,088,985. OF these 1886, 500, value
at $647,O05, 534, have been redeemed, an
SO, 74O,343, valued at $342,063, 451, wer
: still outstanding on November 1. 1880. TIL
amount of national bank currency destroye
during the year ending October 81, 1886
was $35, 539, $780,.
The comptroller says: The total losst
, charged off by the banks during currer
| year were $14, zoe, 4O6 and for four years pl
J vious $85, ,068. The total losses charge
. off during the last i've years are more tina
J rs per cent. of the entire capital of banks
During the last five years the average nun
Q Der of banks annually emitting dividend
|. on account of losses has bee
. 81 per cent. The average amount of cap
tai upon which no dividends have been pa
during that time ia $42,266,244. Fro
which it follows that for continuous peric
OF five years about LIP per cent. of q
whole number of banks in operation ha,
2 paid no dividends and nearly one-tenth
the total capital has been unremunerative.
Estimates for Rect Fear.
The book of estimates containing th
amounts of appropriations required for tn
D public service during the fisea' year endin
June 80, 1882, has been completed. The t,
n fol ovnounf octirooto1 for eao;aloksua -