The sun., 1883-12-05

banks Is t2s.G5i $50, and the circuiaiIon
whsh hs S.ss hsys atsu Sf aH
Nhs S ssfsr q 'as @ 81 o 5 SnS
bonds to the amount Of one;ioarh Of the cari-
sssaas ps sanss iSs 81 % snSw
609.7s7. an increase Of t26 595 b74 during the
49, and inJyiuai acposts of II Sas
q o sTi IA 7ao ID which nS are In Dc oans ass
both OF which are in incregse
d a0 Gh,sd s siatc. Gr s
hold s2Oi. 80, 100 OF United States 5 per cent
likely to be or arns Hl
the next four or ilyo years. unless the surplus
land a per cent. bonds al, tho present. pre-.
Cents viii probably result aree fsdas T
tion OF the bank circulation. unoss some
counter stimulus is applied
How SHALL BANK MOTH CIRCULATION BE 1NsUREDp
Tho public mind is naturally turned to the
inquiry; Hoy shall tie national In,l bank n notss be
ss an% sna vet tG be AK
price as that the banks can afford to buy and
% ss snss
taking and issuinE circulating notes2 | am
Ing obligations q !hs United States Govern. 6stl
ment. recommend that the internal revenue
smeunts to about three millions S and " quarter rt
M The sspe1ss Of carrying on the Bureau Of
By the national psnas Az other sxpsasss sHch
pates which Is to be- Reimbursed % By the s't banks
ae net Ss fSSpensS t0 ;, the was s7
Sss & q notes i: a low ss,l%ats s 9 ~ S SSS 5
Ss fsa Ss Ike a IN an i the Rs
mpnt rpCeiye by Sf thie
atioH than It eSpeISds t to keep i in existence
to &c
Ss ysas c t2 hs sys ssss Sens,D D dsSos to
tied on security; Thus bank would be en-
@ as pas Haae
Of them. Had United states bonds never risen
9f9o per cent. would haye been amply secured.
on their market value ' viii be- SAFE G the ratio @ Of
tie si5cuation M iupnshed h to shift in AMOUNT to
s ht S hS Fs E
sasds y liz s'is Sssn s5usS
GuntdacesptsMtp@n 4 M With %9oneyed men ssePnd
the national banEs Now f h%s aways 's Boon N
hsy BY law o the
been exempt from taxation BY State or mu:
n'Sipahny VIZ InN VI tho Sioatioh VI
the hands Of individuals and Of many corpora-
such taxation; but when he'd by ma,
1sns SnSb RSnS the SsnsS sT "s il. 6 San Is z puf
part OF their capital or their assets and use, used
@n the hs5 n taf1
has found way to , reHeh s9m II EL + ronndn
holder OF a national bank IS made to nay a tax
on the value Of his share IN the eapital and
Of the Untsl states submit that this is not
equal taxation and that it is especiaIly unjust
O. fact With Witch Began this s . Leg
islation by Conyrcss could forbid such exer-
odne States s bonds ana the Ns
them for basis of circulation. more desirable
There are collateral measures which will
give aid to tho banks without detriment non else1
or in aid Of sean, profit . on eirsnaton They
enrtn Hqf thereon s1w M coaer 10 er
bility. This restriction might be removed: 1t
hs mg Ss hS or mss ess sr
al amount. This is Of doubtful expediency. Tho
4, on daring or negligent management and as n
~ safeguard against forced suspension or the
* necd OF sharp contractions
Ek ovERcERTIFICATIoN OF CHECKS.
The further legislation by Congress at its
shs nstanal sstE'l banks. is W checks drawn upon
DreetS or has BEEN
disobeyed. or evasion OF 1t sought
PUBLIC MONEYS
The monetary transactions OF the Govern
ment have been conducted through the Offices
b OF tho United States Treasurer those OF nine
N assistant trcasurers and through l39 national
The gross receipts of tho Government
%ni@ns to- ss ffs 5S S'H Sy
which were on account OF loans). were deposited
follows:
In national bank repositories I44tse7oe ss
Anamount of United States ~ gold coin is re-
which by abrasion in use has !saeel the eGs
for silver coins. but large nunbe of them
arc. redeemed each year under the pro pro
Ws@h are 'S unit it to sobs''a bs AGAIN "p pa out
being or s,s %Sasd or deGf IA
cash at their nGmna Talue but arc H unaSGiia
Without 61t soma loss. In older hat this amoun
OF coin be- made available. it is recommends
that II sufficient sum he appropriated each yea
to pay for the cost Of tho recoinaSe of sucl
coins.
tered or sweulcd. United States coins. arc Of
fcr.d TO the officers charged with tic receipt 81
msDio that m act u,' ba pissed % akin to to that
1876. which shall give power to those Officers
ssp coin sorG or oRsn Gt oesd IL TO he
otherwise make known by mark upon 1t that l
THAT there u likely to bo continuing sur
es an iG laws is BY h9s9
tentive to fiscal affairs. This has called on
propositions for the disposal OF surplus of publ
moneys; two Of which may he noticed. One i
| States OF the Union. This. though it has beel
ingeniously argued, has not so approved itsc IT,. !
call for elaborate statement OF reasons why
should not be adopted.
Another proposition is OF n payment from
| the surplus to certain Of the States which bay'
not had their full proEoG,ion@ sa @ Gt money nnde i
dignity of presentation. inasmmch as tw
powerful States of the Union. Virginia an
ment max ing formal demand therefor. Fol
lowing in the nrnctice OF this department pay
ment to those States from the existing surplu
has been withheld. and will continue to be
until Congress directs another course