New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-12-02
Total ssO22 200 525soO0O s3t.s2l 600 sll773s9lo

$1,000 1Sida mo la "o@" 80, "UV iooiS3cGo
s 1905 ls s3S 7 i 2csooco 5s5soooc
To,a, ssoI92 700 si52 10000 s3ts2 600 sll7 75s9o
Norr-The amount, outstanding the debts named as
shown by public debt arr geatT teG os p, ssns
which wGIs as iq 10y % SSye"'er " '
lsss 50 49, November /. 1884. sS?4777'o
TRANSPORTATION charges Tnitcd Stotes notes
Attention is directed by Treasurer to the need of a
appropriation for the expense of transportation of worn
and nutilacd United states notes to the treasury ioi
redemption. and the return OF new notes therefor IL,
In view OF the that for many years Congress ny
appropratng for this expense, recognized the dy o,
tie Government to bear the entire cost oi ms crlcc!
the national banks required to bear the expense oI
replacing their issues and OF the apparent discrimination
in respect to facilities for redemption against the holders
OF notes who cannot present them 10 an assistant
treasurer without expense To themselves Is ur9ed a
sufficient amount he appropriated To pay the chHg'
for % transportation 81 such for the remainder of
this and for the ensuing fiscal year.
BUREAU OF ENGRAVING ASD PRINTING.
owing to the inadcquacy of the appropriation for the
preparation OF United notes certificates ana bonds
for the wear ended June 80 Congress asked
on January . lssl for deficiency Appropriation. ms
not having been granted, tine preparation OF one
dollar and twololar notes was suspended from Jani
airy ~ IssI, until July 1851, OF which time the APP
ur1pration for the current fiscal became available
In consequence of this the Treasury was for time IN
able to supply these notes The appropriation Tor me
current wear being hut 900 greater than that Of last
year believed to he insufficient to maintain fnII cir
culatOn OF small notes -, 1t.
The Secretary has already expressed the opinion that
the function of the OnciOar and twodOnr notes would
he better performed by the silver dollar and suggested
that withdrawal Of such notes would furnish legitimate
coymeni for iaEe portion ras ,e y nn,t store OF
II be determined however to keep cgat"nder notes
The annT"nriation of In" fu amount asked for by the
Chief OF the Bureau of Engraving aud Printing
NATIONAL HANKS.
The number Of National banks In operation November
!, 1884, 1872. The number of National banks or
gained during the year ending November l. 1854,
N ftalo f
Ing notes have been issued to these new associations
amounting TO S3s5i $40. These new banks are locn,d
honls with capital of ssIo0oO; Middle states twenty
five banks with capital OF 81 Nl22jO Southern states,
thirty banks with capital of S2op 100 Western states
one hundred anl tW6 banks with capital ~ S1oO)tso;
Pacific States. five banks, With chpta ~ TdsouMo Ter
itntlus. nineteen banks, with capital ~ vi lidoVo
since IN. eat ahlshnrn of the National banking pys
TEN ON February 20. 1860 there have been oisaniaci
unnry liquidation hy vote uf shareholders awning two
thiils W their respective capital, and 100 have been
placed Ia the hands of receivers Tot te purpose ~ clos
rio avsr,ne" capital " the Nn,lonnl hank. " tho
United ktatps uriuher iESi, WA Fh2i 2UhHih the
surus was Tiif.uin, sal "a the circulation WA f2su,
IIhiga the lnd, hlual deposits Neie Tin ~ ~
tho lneua aud discounts NriV Hlplnhfnfnf np tho
amount ~ specie wac FllAuoni ~ the United rtal"'
hnnis Hr,uto circulation wUtp Fifflinun aud the
United Hlstca hnuia u accutr dluais an tot othor pu a
llo,on Naiional hanls with an aAeipeato caplln ~
NJ gsA ooo have lslird aud boon placed IA thu hands ~
tocriNVlH dutins the wear rnd,l N",rmhrf "Ni Tho
copntatc c,ltlonor at oilhiA uiur Nulnua h,nhn "a
pircd during jho YEAR. ~ which eighty three have hcrn
r,irnord under The act ~ july ~, ls~s The share
hocrn ~ hNt National hanks have rc,iicd their cor
porato sstonce expire hS Limitation daring the ear,
three OF which were .oc,eedod hy other a'soca,Dn. IN
the same places ANA Win nearly tho Same shareholders
aud National bank Was placed Ia voluntary lqulh
ton by vote OF ehareholdcrr owning twolhds OF IT.
stock The corporate existence ~ III National banks,
with an aggregate capital oi sleoool4'o Will expire
1t viii noted that the circulation decreased $50,
l56452 during The year The bonds deposited to secure
circulation, which decreased S9Gl3,35o in 1888
sti further reduced go Ii23OO during lssI-a rcduc
ton of $50 .O55.d5o in two years.
The per cent bonds of the United States have now
been reduced 10 less than Two hundred millions and they
will he further reduced through the operations of the
sinkingfund by nearly ifty millions each year.
The market prices OF the per cent and the f2 per
cent bonds the United States have declined somewhat
during the past but that these bonds still too
high 10 enable banks to base circulation upon them
profit PLAIN from the fact that the circulation has been
Among the of relief recommended in the last
report increase or the issue the face
value Of the bonds deposited, bill TO authorize which
passed the Senate during the last session of Congress
the acceptance OF the 800 per cent bonds OF 1924 OF the
District Of Columbia the payment OF which IL guaranteed
by the United States and repeal of the tax crcu-
vision Of Congress- believing that II adopted they will
enable banks which now contemplate surrender OF
per cent bonds to maintain il the long time bonds
with Il small profit, or at least without loss
Inasnuch about l3j 900 900 of the circulation OF
banks is based upon our per cent bonds which are
now redecmablc aud being rapidly redeemed remedial
rapid reduction OF our bankn0c circulation Is to be
should receive Immediate attention
These however. would be measures of Temporary re-
lief only Something more must be done IL the system
be established on permanent basis.
More than twenty years have passed since National
banking system was adopted, and many people arc
OF the circumstances under which II came into
existence Prior to 1863 the paper circulation of the
country furnished by banks organized under state
laws The notes issued by these banks hal very lin
tied credit and OF them were perfccty secured
when 1t became apparent that large amounts Of paper
currency would be required hy the Government i'm max
Ing and In the collection of the internal ryc
nuc- the question which presented itself TO the Sccr
tary Mr. Chase Can the notes state banks be
tuatcy the Government. and for @: the
country the secretary decided the question i'm I'M. mega
tive II his opinion. which cunclrl with the ouin.
Congress. that bank note circulation pcrfcctly
secured and current throughout TIE Union mad hccnue
an absolute necessity hence Ia" creation Of our Nsol-
al banking system. II l. one OF the most ting
ncs ia financial history that the notes OF rho rate
banks retired and their place taken those Of the
National banks-an entire revolution cnrct.d I'm our
banking system without ripple Of disturbance to the
business OF the country.
That the National banking system has been Of great
service 10 the Government I'm The collection of
that II has furnt bank note crcua alton ~ uniform
value. and safe hey oi question: l. admitted even by its
ouuoncuts. open 10 all who desire TO engage u bankug
,r,o from any which saNors Of lnunnn,y A 4,
eminently adapted to our republican Institutions
Bank of issue have been fonl nrccNary i'm nIl cam.
iris1 nations and II can be safely asserted MAT none
so far as circulating notes are regarded nrc SUPERIOR or
ruu.d TO nir. Al this hrirg trlr pr.s-rvstinn f.
matter of national impprtaic'; is dscnuti,u,nrn
would bc Il National calamity.
CUSTOMS
The rcvent. from ,siom 70. ,h- fiscal year
,ud..i lime = lHt, nr7 To
That fof ia. - dos rscii year .. - TndIgG ~
The total value Of the import. ~ ricr,hnnIis, entered
for consumption ~ tnr United -,atc- dhrng the year
ended Jane 30 i--i. Wis f,ib1. - $50 ns a,n-t
zoo 67:l lurin. preceding n.,al wear the value
.a f