New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-11-30

s,ecative busipe.s and however great the agere,,,
OF the circulating medium may become, n Sasire a
scarcity will always be heard IRON those WHO
The bonded debt Of the United states
has been RAPIDLY reduced 1852 nj waieh ' nyen
funding OF the miscellaneous obgaionsdp The peduc
ton of this debt during the twelve years "nt ~ IN
So 1881 hos been $6is 4J6Gs, ana Is annual pay
ment Of the principal being So4,l3S'oSo' I'LL" -
The ANNUAL average reduction in the iners'tpeasfinns
debt during the last % t three GIG ygS e reduction
successful. reundng OF the ana nsr per CENTS and
nsy %narSa ss T5 cents during
into per cents together with the rapid az 10
the pcrmanency of the National banking system anG
its ability under existing laws to supply the aau,red
The hold s4O00O00O OF 3la per cents ana ther
81 the d pSt should 70 be
reduced the rate rs during the last year zoo
se ad Viii ne he necessary for the banks holding
such called bonds either To deposit Lawful money ~" rcr
atlon pur, base four and cneha per cen' ss III
Pacific railway six per cents. wilma are now at ngn
rested for the purpose Of supplying the deficiency IN
bank circulation which 1t Is probable VIII arise aS "''
bonds are PAID.
SUPERIORITY OF NATIONAL BANKS.
The security OF the National bank note uncer the
present system perfect In twenty years not SIN ge
bank has failed to be redeemed at It's race 'aue
Banks org Inized under general law located so OFTEN
at great distances from commercial centres, Ieuuoi
security for circulation OF uniform and positive value
an absolute necessity II is evident that tho author
ing OF 5000 banks under general or free Dancing laM'
10 Issue circulation without security located III d
try having such extensive territory as our OWL "ouu
Even If corporations are organized upon the condition
ton safety fund for the protection OF the aggregate
Circulation there is danger that the Issues OF frauoueht
or badly managed banks would soon consume the
safety und, and IL is evident that the circulation wouid
paid, If ALL at the expense OF the depositor VINO
WnI liz. str
existing laws distributed TO unfortunate creditors
Undar Inc National banking system it is provided that
the Circulation issued sna FIRST be paid from the pro-
Of tue bonds deposited to secure the same INC
rata among tae creditors EiShyseven National banks
in all, having aggregate capital OF @lOZoZoOo nave
failed during the last twenty years. and since inc organ
The amount OF circulation to which these banks were
entitled unocr existing US. namely. 80 per cent upon
capital Is $l7,336,340 which isa less amount III the az
gregate tnan the amount OF dividends when was aouay
pad to tue creditors insolyent institutions
Forty-four OF these banks having capital OF S1009i
00O would each have paid IN full their CIRCULATION w
per cent mad issued upon their capital from tue
proceeds OF their assets and would also have pad sh
dividends To their dcpOsitOrs The remaining lory
insolyent banks Having capital OF 80 COO qua IA
the aggregate paid IL estimated 75 per cent Only
from ayais of their assets upon the circulation
authorized, entang loss upon the bl holders Oh over
81 100000 ana leaving no assets Whatever ior
tne benefit Il the deposors, whose 1,v; e,ads
are $9,043,605, and upon which dlyluehos
will be paid averaging, it is estimated
90 per cent wne these fortyhree banks would In tue
aggregate paid rs per cent 10 the Dill nolhers
onehalt OF this number would have paid on "a 70
from the aVas OF their assets not eAceens w
per cent or The amount Ot tLeIr circulating notes
The National banks ned Oh November bonds Tor cir
cuatiOn not payable at the pleasure OF the Government
as follows Four and Onehan per cent bonus,
$50, 754, $50; Pacihc Railway skies, S3.5260oO iour
Der cent bonds, S10i917.50O total, Sl42,l9S,loo
Nune OF these will be payable until nine years
hence, in the year 1891. The total amount OF Oonus
outstanding Led by banks aud by the people wnch
are available for circulation, and not payable
ut the pleasure of the Government, ana eanno0
be redeemed except by purchase in the market,
is follows
-Four per cents payable July l. 1907 S33o929Goo
-Four half cents, payable September J. o