Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-05

alton November 1, 1883, was 1922, an IN
crease over all former years. The number /
Of banks organized during the year is 261, !
the greatest number organized during any
year since 1865. They exist in every state
ard organized territory in the Union. The
capital of the newly organized banks is
$2s ,654,350 aUd the circulation $1,000, $50,
which is about ne-fourth of the capital,
showing that the banks have taken advan
tage of section 8 of the act of July II,
1882, which authorizes banks of $l50.000
and under to be organized upon the de-
posit of bonds to the amount of one-fourth
OF the capital. Returns made on October
"a OF this year show an aggreg gate ational
bank capital of $509, 69S, 1877, an increase
of $26,595, 574 during the year;
a circulation of S314,931,575, a surplus
of $1O2,00O,4s2 and individual deposits of
s, O49, 49, 700, both of which are in de-
crease; loans of s., 300, 45O, 100, and specie
of $lO7,817,903, both of which are in in
crease. The corporate existence of 3O7
has expired during the year, of which 273
have renewed it under the act passed bv
the. last congress. Seventeen have been
PLACED in liquidation by vote of the share
holders, four have expired by limitation.
G.
ceeded by new org CARNATIONS in the same
localities with new titles. These data
show that the owners CT capital, DESTROYS
of investing it in the business of banking,
are suited with the national bank system,
and willing to continue or to organize
anew under it, when it can be done with q
reasonable show of profit. The corporate
existence of 983 banks will expire during
tbe
1885.
The national banks hold, as security for
circulation, $685., S77,3OO of United States
bonds, reduction of $9,613,35o during
the year. They hold $50 of
United States per cent. bonds as basis
of circulation. All of the latter are likely
to oe called for payment during the next
four OF five years, unless tho surplus re-
venue of the country is diminished. There
is little or no profit on circulation based
upon 4 and ~ per cent bonds, at the pres
emit premiums therefor. 4 continued pay
ment of the per cents will probably result
a large reduction of t.le bank circulation,
unless some counter stimulus is applied.
Many propositions have been made to that
end.
IMPORTS AND EXPORTS.
The value Of the imports Of merch sndize
into the United States during the year
ended June 80, 1888, amounted to $685.
1904, as against $724,639,574 during
the preceding fiscal year, a decrease Of
$I,459 $50.
During the fiscal year ended June 80,
1888, the value Of the exports of god and
silver coin and bullion amounted to $751;
820,333, as against $49,417,479 during the
preceding year, q decrease of ST. 597,-
146, and the imports thereof amounted to
S2S,4o9,39i, as against $42,472 $50 during
the preceding year, falling off OF Sl3,
9S2,999
There was during the fiscal year just
closed an excess of exports ever imports
of gold and silver coiu and bullion
amounting to $500. 942, as against S.
945,OS9 during the preceding year.
OF the merchandise ilnported into the
United States during the fiscal year 1888,
S136, O02 800 were brought in American
seis, and $23 003, 048 in railroad cars and
other land vehicles.
|, OF the exports OF merchandise, $104,-
1920 were shipped in American vessels.
1854 SO l,34S liz foreign vessels, and $780,
G89,844 in railroad cars and other land
vehicles.
| TONNAGE OF VESSELS OF AMERICAN owEER
SHIP.
| The tonnage of vessels owned in the
United States at the close of the fiscal yeal
1888, according to the records of the leg
lister of the treasury, was 4,235, 487 25 tons
| Of this amount 1902, 091.65 tons were il
2,174 vessels, registered for the foreign
trade, aud 1888, 392.60 in 22,043 vessels
enrolled and licensed for the coastine
| trade and fisheries. There was an increase
of $500 tons in vessels in the foreign
trade, and 59754 tons in domestic trade
INCREASE OF QUE COMMERCIAL MARINE.
| 1t will be seen from the statistical re-
turns herein presented, that for many
years past, of the exports and imports Of
merchandise, no greater part than an av
| erage amount OF 16 per cent. has beer
borne in American vessels. This is, in {
measure, due to the facility and security
offered for investments of capital in do
mestie and inland commerce, and particu
larry in land transportation by railroad
The decline in the domestic tonnage of
the Mississippi river and it's tributaries
may largely be set to this account. It il
not an agreeable reflection that the freight
age on 81 per cent. of cur commercial
imports ard exports shoult
be paid to alien ship-owners. Can
this be helped by the removal of bur
deas laid by law? OF those now directly
imposed by statutes On our vessels sailing
foreign, there remain, besides clearance
entry and admeasurement fees, only TIT
tax OF thirty cents per ton, payable once {
year on entry from a foreign port. Yes
sels in the domestic trade have for man,
years been exempted from tonnage tax
The income from this tax for the lest fsca
year was S1.320,59O9O. CT this amount
S1,057, 961.60 was paid By foreign vessels
Even though SO large a proportion is thu
paid, it is we'll deserving of consideration
whether it is not advisable to return to tn,
policy adopted in 1881, and entireI,
abolish the tax. 1t presses more heavily
than any other upon our foreign-goinE
shipping.
There appear but two methods by whi1I
our foreign shipping can be directly in
creased, namely, by subsidies, and by al
lowing the free purchase OF foreign ships
Whether either of both of these mean
shall be adopted, will depend on the judg
ment Of congress whether it is better t.
resort to them, than to suffer the yearl.
loss Of 81 per cent OF the freightage OF
exported and imported merchandise.