New-York tribune., 1882-08-17

The SILVER Gneston woulo undoubtedly promote safe
lstciiy OF the currency. because IL wouid ahe
than ia "a constructed money market II tne S ste te
Soid doIlsr toe Two Should be made equal in bullion
value ANA this III involving no oreAch Oh lais
win Inc crctors of the Nation. In any event. let some
plan be adoed b. which bars OF silver as well as god
can be deuscd with the Government entluhS lhe uc
po4tor 10 receive certificates of such deposit IN larger or
smaller demo nInaons or fractions of their weight as
mag be convenient, which entltle lhe Dearer 10 op
the weight OF each indicated Its face on presentation
nj the Ir,aury and possibly its branches lLtse "ouIu
largely circulate III times Of stringency I0r tnc
II woud greatly simplify tue whole subject o tue ma
ure of money the popular apprehension, VIM d ~
would immensely facilitate interhatlohtI cVsso I,s NJ
exchange, did the names Of the coins o tne CIV Iiln
tons explicty express what the uoVe'nhoit xact
ilup int secure and really ceruiy, VIZ, VIC 90 ~
weight of gold silver IN each coin Inen tne coIns % v
all would pass everywhere at thelr iace ,nt nuo
And certificates oI the utle OF peSr @ ba 6nt
gold silver deposited could De lssueu Mns. v @
wo epsTe nr Tgers are COMMERCIAL paucs not
warued OF mtigated by the methods hre;ay Oo Is
people 10 turn their bank into lawful money ;, as
10 Do OF being PREPARED TO mGtt lheI eSi i h
mons wnen worst comes to worst When lhc panic "
fairly initiated, the sooner banks stop pa, nk @ @
tier reserves tO no purpose TO paru's "Hoso oJ vs. @
Tor tnen 10 lock them while tney at me same blme
extemporze she temporary substitute OF little lower
grale 10 l ,h vacuum Of currency tno svo"oi s
pauc uistOucaliy the dissolution o P'cs i's
been effected Dy ,hc application OF tns prime ~ sPo
Tomatoes anu cyclones are a law 10 th'm9oI'cS'
TUE CLEARING HOUSE.
Professor Atwaters address well received IL was
followed by one on the Clearing House, delivered Dy
Colonel william NJ. GrosycnOr OF New-York IN substance
as follows:
The Clearing House was established FOR the conyen-
fence nauke but it has proved Of great value In
other ways II Las supplied the best measure OF the
Increase and decrease IN the volume or trade and mas
helped to render the u-e O money Unnecessary Ninety
i've per cent Ot al pay mHhis "e nov nao 1 .~"usi ~
BANKS. The clearing house teaches that pay 9inens ,
q 800 every inhiDitaD ana the payments through
banks alone probably exceeded $1,000 per capita me
rlt.uTn "a
Houses Tor the Iul year 1851 Is S043bo 80 lOO In
aidI,ion, tue rep Tor rigIt anu mar mouths at
Peoria mot incuucd in above ia at tue rate of 0ger
80 % ne rate Of 900 900 yearly mus the pay
ments between the banks at twenty S-seVen
cites were about S64,46O,OOOOOO IN year
Tne excn. nges show tnat the volume OF Dusl-
ness was argrr by 26.4 pr cent IN 1881
lhan ia 1850. Excuding each year the returns frod
ctes of wncu no previous report given, mud tuat
t, aggregate IN $50 Was 29.3 per cent larger IMAM IN
1879 IN 1879 II was 3sl per cent larser man III
1875 I.us sncc lOw-Natcrfnatk was reached III lofo
tue increase been 1868 per cent, and l. mas been
much greater tue previous decrease Ine amount
in 1870 was 90 per ccnt below t1at OF ieaI
latter Wa, ILL per cent below that OF 1870.
gaze exchanges a, 26 otner cities t1an New %
LompaIins hcSe It n sno"n taI the decline rom lo'J
20 1876 WAS 69 per CEN, and 81 per cent IN 80 anu
O. per cent 1878 tne increase nds been lO9 per cent
1879 2l2 Oer cent III 1850, ~ ger cent ia lool
Ia per cent IN tne first hi. of lsS2 lac NoIunc ol
outside Of NcW-HOrk Is greater no" thh at any
previous time.
THE MERIT OF TIE SYSTEM.
|
that its record is impartial automatic and accurate BY
the and OF data Obtained by Controller Knox. stimate
can be made OF the payments AT banks not III Clearing
House cities. The average receipts OF all banks on the
d,ys named by Mr. KuoA may Approximate closely to
tie average daily fOr tie whole ear ana II so t"e az
rree..e receipts by al the banks were ABOUT
g., 900 100000 in 1ssL 1t can hardly De
an eAag-cIiti0n to say thal the pA'lhesS
i"p. Though tnc banks last year amounted 10
$4,000 1000, but OF t. vast rin over ~ per CENTS
rccO.dcd Ia tnc reported exchanges. -. ., ,o -,
A second Ol Interest ~ tiic ccolphly
money which the ro'urns disclose la NeN- -1ork i1S.
JGl2 per mt ol All Ihe pay WIZ du0 ~
the surrender oi mutually ScinceuhS clahs, Az
Ihladephla where certificates and cheeks are usedtre
balances are only per cent III sou ioP 'a 90 -,
tor, tuc CaDg - stem naS tnc elect Oi vast
All to the Currency 1t enables Tie cOhhcice Vi Ie
M n cas- which but ior tna - stem wOuu DC
tIc clearing HOUSES Will sooner or later render poss oe
a service financial meteo. oios 80 tn1t a conlercldI
signal -rrY w enaDcu To foretcl business stoih
to predict Changes III tIe nnahcii "ol.ncr mi'n @
affirm tnAt tnry been guide 90 thcir advantage by
studying Tn. movement o tuc exchanges III u'Herehi
uons Inus te outbreak OF speculation IN
proau.t was redcctcd iAst yrarin sudden expansion
OF exchanges at tnrce ~ Nes'erh cites , a.,
Mr GrosycLor was iouiiy appLtuded anu snort 1s-
cussIon anon tnr subject Was participated III b NJ
BALDWIN oI the Four National BANK Vi NewhorK' MI
IlDsoI "A OrOhcT aud Otncrs
BAAKING ~ TN W ST.
a. D. Lynch, President oi the tIrst NatohaI BahA oi
Indiana polls, ind. uelvered snort address ON the sub
icet o Bank NJ III tnc West lie gave an account OI
the early history oi banking the Western states par
uculatly in Indiana Gho c,sAuon Of a numoer OF The
Western staes ia, been unfrendy. he sad, to banking
interests tAer Jur diction. though broader we" Is
no" no" in aA@'I I,e Nest are not cxtravagam'.
For the close OF the year 1851 tne reports
and earnings Apta and surplus were lIOper cent
inIs Viii rrpro.rnt about ZOO National banks, with
SGUO.OOO.OOO " ME mi, favorable showing appears
upon it l. true tne oanAs oil the Middle states
years cudg september L. ISL the tables snow losses
OF live mlon, aud nall, u shown D.! tue Conrn-
he.
cludng state National fGe National Oa kH a. SHOWN
o' fh. .,s nave pad into tne United Treasury
slice 1863 ia round numbers 9lO9,UOO'OOO ON clrcua-
non toue the paId Is @JOOOO,vOO, wnc tne ehtlfc
cosf 10 the overnmeut for the machinery Oi office and
oIner work amounts 10 100000 Western bankers,
aua the rue vi ali othera are growing IeaIuy
tired of this exhaustng, nnreasonaDe taNalon rene
Oi me War KcbeiOn. unnecessary aud UNJUST az
they pay more IN proportion tdan any other class oi bus
A MOVE IN ENGLISH BANKING.
letter was presented ron X. IL. English, Pagraye,
| LONDON acknowledging the invitation 10 attend the
| meeting and inclosing a statement showing an i'm
| portaut move In English banking consequent upon the
f,ilur, of the City OF Glasgow aud West of England
Ranks there The principle Of limited liability
| by bankers under the Law OF 1879 was adopted
| lenerally which gave ample security TO depositos
| aud the same time protected stocAhOders
| from being liable 10 tne extent OF their
fortunes. otockho'dcrs put up additional capita IN,
rcserSc. 100000 There has been an Improvement
IN the quality OF the proprietary since the adoption of
limited inability provision persons OF De.Gt stand s
taking the f extent OF their rhk mas Den
liked W law. DcpoeitVIs are satusncu tn,t .c ~
luhufy OF the wealthy rs better than the unlimited
aDiny o the needy The banks tncmseVeS nave gained
trum DecohIlng connected with "A better proprietary,
yInr Wider choice lor directors. The depostors do
| not appear nave Increased Ill proportion 10
the up capital, fact they may not Oe ia al cases
uuie a. trge in pro portion DcOre Tie alterations.
he matter deposits cannot soc tfaoeI s accurately
IN LunInd ~ III nlcd Satcs, there being no su
re MI pubicauOn OF bank rrurus The pad-up capt
tai of me banks in 1877 &35OOO,OOU, the reserves
nearly OOOOO IA 1852 tue pdd-up capital was over
SO 600 600; tnc reserves nearly @2OOOOOOO IN 1919,
uur -tonr banks III Lnsuni ana Wales were oil hheu
tftIu u,,S
ty-turee unlimited, oil winch are about 70 become
limited
TIE DANGERS OF THE FUTURE.
Owing to the asence OF JOnn IhOnpsOn Of the Chase
National Bank OF New York, address prepared by
him was presented Dy the secretary 1t was IN part as
follows; Speculation one year ago rampant every