Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-12-05
WASHINGTON.
ANNUAL REPORT OF COMPTROLLER
KNOX.


In his report states that eighty-six national
banks were organized during the year. From
the establishment of the system of Nov. last,
240 banks have gone into voluntary liquida-
ton by vote Of shareholders, and eighty-six
have been placed in the hands of receivers for
the purpose Of closing up their affairs; the
total amount of claims proved by creditors of
these insolvent banks are 81, $50, ,6O2, and the
amount of dividends paid creditors, $16, ,56l,-
69S; estimated losses to creditors by failures,
of national banks dnring eight years since
the passage of the act is S6,240, 600; average
annual loss abyut $346,000. In the business
of corporations having an aggregate capital
of $45, 100000, and deposits averaging about
Ss0O, 600. The imports Of gold exceed the
exports from date of resumption to Nov. /,
1881, $I97 ,424, ia and ending November 1st,
last, with an aggregate authorized capital of
1861, ,O5O, to which S5,23S $50 in circulating
notes have been issued.
The largest number of banks organized in
any year since 1S72-twenty- banks, with
and circulation of S1.245,530 have
voluntarily discontinued business
during the year. National banks are located
in every state in the union except Mississippi,
and every territory except Arizona. The total
number in operation October last was 2, ,132,
the greatest number of banks in operation at
one time. The total number of national banks
organized from the establishment of the ma
tional banking system, February 25. 1853, to
November of the present year, was 2,3s1.
The estimated gold production of mines is
$104, ,150, 900. The amount received from these
two sources during the year ending November
1, 1881, has been $114, 4,749390. The stock OF
standard silver dollars is increasing at the rate
about $4,000, 900. The monthly amount coined
during the year is s27S, ,249,5O0. The amount
of coins and currency in the country the LIST of
rency in the treasury and in national banks at
the same date: Gold 1924 ,9O5 $50, silver Sl03,-
09S, ,207, currency l39, ,599, ,3O7.
OF $5S, ,S38, 100 in silver certificates circulat-
ing Nov. l, a large part are constantly in the
hands of people, and being paid out by banks
in preference to gold or legal tender notes.
The total amount of silver dollars coined to
Nov. was $l00,672, ,7O5. The in
crease of gold and silver coin and pa
Der currency outside the treasury and banks
since the date of resumption is estimated to
be S27l ,672, ,802, and the increase during the
year ended November /, is SlOO, 1898 1884. II
the amount of silver certificates in circulation
be added, the total increase in the circulating
medium since resumption would be $780,
053. .2l7, and during the past year SAC, ,056, 49,
The number of national bonds which de-
obtaining possession OF their bonds in an
ticipation Of the passage of the funding act
was 141. Only about one-third OF the bonds
thus realized were subsequently redeposited,
and for some months thereafter
the total amount of bonds redeposited
by 145 banks which reduced their circulation
was less than 7,000,O00.
The comptoller has bcen unable to obtain
any evidence, there was combination on the
- ~f h To- 1ono 1ofc
and withdraw bonds for the purpose OF de-
ranging the money market.
The bonds nov held are chiefly 81 and
per cent, there being 241 ,0O0, ,0O0 of the form
er and 81, ,O00, 900 of the latter. The amount
of interest received from Investment in either
class of these bonds is nearly the same, and
there is but little disposition to de-
posit legal tender notes for the purpose
of withdrawing them. Some banks take
occasion to Withdrew their per cents for
purpose realizing large premium of 16 per
cent. which they now bear, as the premium
can be used for the purpose of liquidating any
losses which may occur in their business.
Three and One-half per cent. bonds are being
frequently called by the secretary and banks
may therefore have occasion to withdraw
them after interest ceased, and 1t is important
they continue and have this privilege upon
deposit of lawful mOnev as now provided
by law, If banks, either national or state, or
private bankers, should devise to derange the
money market they can do SO independently
OF any legislation by congress by calling In
their demand loans. Such course would be
much more simple and easy Of accomplish
ment than depositing legal tender notes
in the treasury and it would be much more
effective. If, however, congress shall consid-
er it advisable to prevent banks from deposit
ing In the treasury for this purpose large
amounts of coin or other lawful money, then
section4, of the act of June 20, 1876, may be
SO amended as to regain those desiring to
withdraw bonis, give reasonable notice OF
their intention to do so before completing the
transaction.
The whole number Of National banks
in operation October first last, was
2,14S. OF this number 393 were
associations having capital OF over $4,000
each, 1874 a capital Of over 50,O00
and less than S100.Ot0, and the capital of $50
banks ranged from St00, 600 to el6O.OOO each.
The minimum amount Of bonds required to
be deposited by banks of the capital named IS
one tsird of their capital, but not less In any
case than $3O,OO0. The minimum amonnt re-
qulred by all other banks is $4,000, and the
least amount of funds which under existing
laws may be deposited bv the Q, l4S banks now
in operation is about SS2, ,4u0, 600.
It is probable that from 100 to $50 millions
Of United States bonds would be sufficient to
sv,ur,lv fha vniuimum amounf nnoeAaarv tn