The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-04-22
FINANCE AND COTTON.
FINANCIAL ITEMS.

FROM IhompSon's Bank Reporter: "An Inter
estng question brought before the Connecticut
legislature nearly every session for years past
relates 70 the disposition of deposits in savings
banks which have not been disturbed, either by
increase or withdrawal, for y long term of years.
All Of the Older savings banks in Connecticut
have such deposits ilartisrd bank has
them TO the extent of 10000, a New Haven bank
$4,000, ana there are large sums In the banks
In seaport towns Where deposits are uudiS-
turhed for over twenty yc,rs The natural infer.
cnee is that the deposiolS are dead. The banks
make no effort 10 find the legal heirs to tue
money, and in many banks il is the rule
to refuse information regarding deposits of
this character. In lS1S law passed requir-
ing banks 20 report the names and the amounts
fall deposits uudiStnrbed for twenty years
Practically the law amounts to nothing. The
reports are tled IN the Office of the state comp
trollcr in Hartford They are seldom enquired
for, and the fact that they are Tiled al all is
known TO few.
"A bill was debated in the Legislature yester.
day which promises to open up this whole mat
Ter TO the light Of day The banks hold these
deposits, ii is claimed. to the extent of Sl50UU1
of SgOC 900 altogether audit is proposed that the
people of the state shall be Informed as TO the
facts The hill provides that annually in July
these deposits, names and amounts shall be pub
lished by the banl, In Newspaper in The Town
where Ii Is located, excepting that deposits of
persons known to be living may be omitted from
The list Zach deposit snail receive three an
to the state treasurer That official shall
retain /; for thirty years charging
up three Ter cent. interest and
funclaimed at tho end Of that period the mon
cy shall revert to the state The bin was ad.
yeTscy reported from the committee on banks
and met with some opposition on the floor of the
legislature. The discussion, however, created
an interest In it, and it was finally sent to the
Judiciary committee TO be more correctly framed
While the savings banks people admit that they
have no property right in this unclaimed mon
ey 1t is fact worthy of note that for years past
they have resisted AL efforts to have It removed
from their control. In the debate yegterday 1t
was argued that not only was publicity needed
but 1t was more just that the funds TALL into the
possession of the state rather than remain with
the banks
Mr., BuRcHARD, the present director of the
mint has estimated the gold product of the
world for the calendar year 1850 nj S70gsg. Si6
exclusive of the Uni ed states. giving s3G 900 .
900 as that product not for the calendar year
but for the twelve months ending June 81, 1852
and thus making Il total of Sll6,9SD SIC. As we
have shown, however the Valentine estimate,
being for the calendar year Is the close or
proper one, and, consequently, the worlds gold
supply for loSn, accepting the other figures of
Mr., Burchard in the premises, cannot have cx.
Cceded sl0S 5lN,9l3 And this amount exceeds
the census estimate for the twelve months end
ing May 81, 1850 (Sl00,7 800, by s., 192Gl3
But us ON several previous occasions, We must
question the figures which give Russia u gold
prpduct for 1887 of S2Sjjl OPS, with An average
annual product of SIS 36i 5l5 for the three years
of 1873 1879 and 1850 outstanding they are
based on the statements of Russian officials
made through our legation at St Petersburg
Thetact is, the gold mines of Russia have not
AVERAGED more than s23,0O0,0Oj annually, as
should be apparent from the fact that California
with her vast gold.lield, worked under every
favorlng circumstance including climate ana
improved mining appliances, unknown in Rus
STA, produced not more than Sl7,50O,OO in 1850
while the hyperborean gold fields of Russia ARE
either Hooded or frozen more than 800 out of the
80 days of every year Nor can we accept such
figures for Australian production for 1880 us $50
O3, upon the mere statement -four Consuls in
that quarter 50 large production is gainsayed
by the coinage of the Australi minis which,
aggregating S2,l5l,SH for 1850 averaged mt
sl9 Isl, Sjl for the three years ending with 1850
ANY product SO large Is also inconsistent We
submit, with the gold exports to England and
AT variance with the notorious general nd
mission that the Australian gold product
has been steadily diminishing year by year
Therefore we claim that S2jO0O0O1 viii cover
the product Of the Australian gold fields for
1851. We are satisfied, further, That no such
sum as si,O go was derived from the mines of
Colombia, and tnHt the following is n closer est.
mate of the actual gold product of the earth for
1850 than that OF the director Of the mint;