New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-12-05

From the establishment OF the system TO November
last $40 banks have gone into voluntary liquidation py
the vote of shareholders owning twobrds OF the res
pectiys capitals and eghtysix have been piaceu IL ~
hands of receivers for the purpose OF closing up no
affairs The total amount Of claims proved Iy tne 81
amount Of dividends paid O. creditors Is ~ 80 ~
The estimated losses 70 creditors rom me tbc mas
National Banks during the eighteen years since 'ne %
of the act is ana od daG Yer II
corporations having an average caL'I about
l99V9g99V T%SptraH Of these nsavent banks
have paid their creditors in full and rory oil theh
tiles OF shareholders of nsolyent banks has been n,
forced nitythree instances, and ABOUT W mas
dividnd have been declared in favor Of the OF
insolgent National Banks amounting to $929Oo"; ana
fine affairs twelve such banks have been uuay clost
nine of which have paid their creditors IN null
Inc IMPORTS gOld iu excess OF exports, fOW the Je
~ ,oe',iirutioy Ia November l.. 1881, have been
&l07 43l ia and tue estimated gold production oi the
mines j. II $4,000. The amount received nom tLese
two sOuIccs during the year ending November l. 1851
has been Sll4.7493yO
The Amount OF iegaL-tender notes has remained tae
same suce May 81 1873, in accordance win To-" Ihe
increase " National Bank notes dGg the year ending
November as was Slo'oluitS ne, o.e,lSI M
The ncreasc OF the gold CON- Sl1S'1s6<I ana % slreF
coin, S277lG454. make. total increase Of CON ana
lac gold the Treasury, including bullion IN process
and in tte banks ST17o .49s The paper currrncy m
tie Treasury increased $45530O ana ID tAt ,ah1'
side o the Treasury and the banks If 9G|l3I2l ana
OF paper currency S24 40iO6l m 1870 ,.-, -, ,,o
Treasury not beer included but the standard si
yer dollar kept redeem them On presentation form
portion % the silver coin iii the Treasury
TOTAL OF SILVER DOLLARS COINED.
Thetotal amount OF silver dollars coined up to Novem-
Der l. 1881, was SlGO672,705, OF which $6657637s
were then the Treasury although an amount equal 10
G0 represented by certificates III the hands
OF the people and the banks, leaving only S7,7316p9
actually belonging Treasury. OF the SlOO6T27O5
coinod therefore $34.O9G327 were circulating IN the
form OF coin ana So ss ,769 in The forn of certificates
The remainder OF the silver So S5i66o m subsidiary
and trade dollars and bullion, Of which $z94C9zG If in
the Treasury, and S5j95j39s s IN use IN place OF tne
previous fractional paper currency which, on March %
1874, at its highest point ANA aInouued 10 @49oOo-
200 -. ...
rency outside OF tho Treasury ana the bahAs since Ie
date OF resumption Is thus estimated 10 DC = soI'
aud increase during the year ending November l,
crcnatiOu added the total increase ia the circulating
medium since resumption would be S51OOo5'ZI|' ana
The uunher of National banks which deposited legal
tender notes for tae purpose OF obtaining possession OF
their bonds, in anticipation OF the passage OF TINS Dill
was III. These banks were located Ia tWenty-i0ur
States the amount Of legal tendernotes deposited
The Controller has been unable obtain any evidence
that there a combination tue part OF banks 10 de-
post eaender notes and withdraw bonds FOR the puI
pose OF deTangng the money market o.
Since the ADJOURNMENT OF Congress oIy S-SYI,o42 OF
legal tender uOes have been deposited under the act OF
june 20 1874 for the purpose OF retiring circulation,
pense whatever 10 the Government Of the United states
cent redemption fund. The Dohds now held are chiefly
3l2 and Per cents, there being 24i millions OF the Tor
Of interest from investment IN either class OF
these bonds nearly the and there IA but little
digportrn deposit legal tender notes for the pur
withdrawing them Some banks take occasion To
withdraw their per cents for the purpose OF realizing
the large premium OF 10 per cent when they now bear
as tl- premium be used FOR the purpose Of Gqmdat-
iur any which may IN their business The
3l2 per bonds being frequently called by the
the banks therefore have occasion To
WadIv them after interest has ceased, and II Is -
porant that they continue 10 have this privilege, upon
a deposit OIL lawful money now provided by law
The anodut Of loans OF tue National banks Ia New
York city on October l. 1881, 2iG millions. and 81
millions OF This amount was payable on demand; and
The total of loans OF all the banks was 1,IGJ
millions of which 1876 millions was demand loans IL is
probable tla the proportion Of demand loans held Dy
The state banks fully great ANY proceeding which
should tend 10 bring on panic or Cerah2e Inc money
market in York, would, first Of all, affect the value
of the stocks and bonds held by tie banks securi-
ties for these loans. 1t would be directly
against the interest Of the bank To pursue
such course and 1t Is anew principle IN banking TO
ASSUME that banking Institutions will conduct their
business as 10 depress the value of securities which they
themselves hold. II the banks, however either National
State private bankers should atany time desire TO
terange market, they dc independently OF
legislation by Congress, by calling In thelr demand
easy OF accomplishment than the depostng of legal
tender in the Treasury, and 1t would be much
more cicciINc.
H. however. Congress shall consider it advisable to
prevent The banks from depOstng in the Treasury for
This purpose large amounts Of coin other lawful
be amended require those desiring 10 Withdraw
bonds give reasonable notice OF their intention to do
60 before completing the transaction.
following table exhibits Ia concise form, by geo
graphical divisions the total average capital aud dcpOs
state and sayingsbanks and bankers
8nan mfr. he nj fla IiTttr NJ.