, 1881-12-05

Tim principal reasnn urged lIy those whn
FAVOR a t,istf,STiNtrAScE DR. THE "a
Tft,SAL nASE1SG SYSTEM
ID. tint money tan iIo snvc hy NIT hor!znR tho
G0tcrnuent 10 furnish circulation tu tho cot,n.
Try; III nllor Words that tho profit tu siio l,nnks
utn,n thosr circulation Ia cxecsslvc. sfxtoen
years nHtI tho bnnkR had dn snpostt ns sce,irly
'tor circulation, s.1GtCO,0M, In United StRtcs
bn'i'ls ut which atnnint t,enrty 500, n,0O0 wna
III q trr ccs1ts ard ID, ,d U0d III pcr ccnts. THO
n@ntss now hold II, ,UD tN If III PR cents; r.
Eno Ut I,cr cents; I'll ,coJ, ,l uf 81! pur ccnta,
converted from i aud per conis; md nl'o ST.
buI.Ooh III pncllo Nniroad fs. Tho remaining
per cent f,olltIA helh by ttont, amounting in
MI 10 *15S.ttN. havc btnsr to hrar interest. Tho
average premium tnrno Ivy Tim pcr bent bonls
during tho lust six lnunflB has leen nbolt 1per
crh, atld nj this prIcp they net to tic holders less
linn III rer cunt interest," Dl ring tho shine lc-
r1od tlla ~ per cents Mlso hnvc, for Il Consklur-
nbe partlon OF tho time, iccn warth II prrtnitn
In The 9nnrtct at ffoa tu ter cent, so sut tho
banks do not ut tho present tItnc. ad 1t Is prot.
nble thnt ttcy will not for long tltnc to tilnc.
receive MI nnnttAl aycrnEc rnte OF lntcrust us
Krent us W. per crnt hrun tho United Suites
tluntis hrtd hy thrn as security for their clrcu-
hitting nates. Until tho year 1877 tho buIks ct,l
ti1,te.l TO receive Intercst uon the rar value Of
tho ir hutids ut tito rntc Of either nor 1cr cent,
white tf.o nut interest nUw received, us Atrc.Iy
stnsctl, dors nut cScce'l 3!3 per cent I'm u per
ccnt Of thu nnlollnt nf bon,fs thus deposited By
thu f,nka, n:a'osaatug Ia 0,C00, shey scecsB
M circulation: and from ths pnrttun Of their
Lnttu sfcposft tioy thrive M benefit t'r nvnhtaFp
nut la,asease ~ ANY uther elAsa Ur butHliltlera
They I,ny y tnx Of per cent hrnl tho Mt1oitnt OF
their cit ci,lAtlnE ioies outstanGnH: keep OH de-
1ss VIZ te m r Snt 20 e "ot tor sscs ~ awt vs.
permanent redemption fund: md nlst, rG!nlFHH
q ti.e l'nled stn:cs tho expens&s IT, nf rstee!'!ug
profit upon olrcsatton, basel nnon different
G.ssey Of b,uus n1,d VII, n rut%s M ut interest 90
HSn nes ss ssnt yrynS q ~ fs ss to 'cr cent Is FROM
Tic proportion ur taxat!on. National and
Stntc, INFUSED 1l,tliI thu hunks hns lHch al,n"l
1noilryed chp.tn!. being IN tno naEscglste cnunl
It. nt average rHto Ut per cent upon TIM
ainnmnt rt tnr!r sses. rho amosnt pf intcrcst
bonds l,eld by then, Ina III Into years Ki,tiuaiy
deerMsc!. uni Tho prnlt lln'.t circulation hns
thereby btcn rctIneci umost ~ tho nst!lt,,.,tn.
Such Erutit cnnnus now, ut least, bu sa!l to be
excessive.
II ii nEcoN,lESnEu THAT AN ACT III:
PASSED
during tho present scsson authorizing my Nm.
t!ntthl bank. With tho approval Ol the Eull-
troIIer, Ut any t!n,e within iwo scnrs prtor tn
tho inle Ut the expiration Of ,s cGr,mr.sc exist
twnllty years, hy nnnndinx its ARTICLES nr ues,,-
cntl0n. Tho bill tnny provide thai such ,Inrnlt-
tifchts mist a authorized y tu vdtes f sattt-
huiera uwnlny nut !ess t!,Ait twu-thlrss Of tito
certified tD tin Controller pf the Currency, by
s lie rtssst ssso Sr os'''ss 5 o yi;s v u r. % @ Il, &c
Eu,ltroiser's npprs4! thereof Rhai have ietn
nnlttt und h. sfsuti hn.r given tn tt,t l.sSoctn-
tfun PertI1tcntH authorizing It to ctN,tinlf its
business under s,leh extension, Responsibility
fHr tile extension ut tho Gsrt0rasu existence ttf
W. na1ss wll ihs H. ss'',r rcst wy. tie
tHasion of It's a0IfH to tM ahtio itrittr 10 RraH-
iM: TIC extension as irAy anrtil 70 him propcr
~ orer to nat''rnln Il no casal stock y lnt,lct.
ait! q! tho asscts "t tho Ianls ttl satisfactory
GuHtfitiDn.
~ Il ct,naco,,encn of the aba1ttlon of tho pres
cut syatetN, the l,rEo surplus which Tho Eatfon-
nj tMnlss hisu tlUw nGgnltlntetl. amounting 10
Si:s. !ttdis. AMI WHICH nd,!a Ercatty ~ t!;elr
Aniiils their sEArehuttl'rs: wie many Of tho
safpKtiarls and restrictions Of tho present !Htv,
which sxp"rls1.se h''s sl!'yn T., bn valuable wlil
t,.x 1rgfstastnn o. tho .feycrul stntcs It's to tM
practically nr t!ttao vnlae III comparison with
r., on, tho nther hand. tho carporate cxistencn
Of thu Nnttonnl hunks shAl te extended. nll tho
stlvnnt'uern vi tho existing eysten, Will ln prc-
served subject iH sticll amendments MS may be
hereafter. lHtsfHa necessary; #D tho eiif'tsft-
lion Of tho bnuks. which II tbc principal oh1et-
tfon urged nGn!nst tho system, WIll, under IN =
!Asll,N Inws diminish, II, Su!uns ~ tlls public
tlnbt Kiitt't Il" retitcts,
THE WHILE SEMlEis tlF NATIONAL. DASEa
III oyrrai!ol TN Oct. ! lass WIS :,l4s. Ur Ibis
ii SDdou zach; ,a4 hai t! "pi,aI "r over s:5SxsI
anu lrss' ttun stuluoy, ausi tho cnl,tai Or s.a
lM|uks ranged from SlAl.tM Ia *tio,uo0 cnch.
Manc y ,a..tr, ot thor H., eartta. l,,t H,t !rss
required Gy iii u!ier. batiks is :!Ai!sJ. and tha
!taltt al',t,sint Of l!pns!s which. Under ax,etInx
gs naE 10 tnos!!,y! % d.! n m @ts '1s ,,s
,hat' ir,,'t oi /" iD miiiio1's If tTu',E Ft"tcs
lan,is would bo sHNelt'nt to spp'y THO minimum
T9ssfs! a!t "SsssHi'f Is III to s t. Is wsen , 81 @ es IT,
l!shcd during lIlH next twenty years. 1t H.,