The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1885-05-21
Only Seventeen Years.

WAsnINGroN, May 8.-The fiscal year
will close with the total number of Ma.
tional Banks reaching TO 5000. The
exact figures are not yet made up, but
tue total will not be much above aud not
below that figure. The steady growth of
this system is something remarkable.
Even now, with dissolution staring II in
ihe face, 1t continues to grow. For, un:
iess the ingenuity of the national fnan.
ces shall enable them to invent new
| ssye'em, 1t Is easy to see that the days of
| t1e national banking system arc number.
ca; There are but little over billion of
| eoiiats OF national bonds now outatand.
ing,
| We have been reducing the debt this
yesf az tne rate of S60,000,O0O year, go
thae AT tina rate II will take only seven.
teen years TO call in every bond outstand.
| lng. N some former years the reduction
OF the deps mas been much moro rapid,
out eupposing that II may run on at this
rete ~ wiii pe Dut seventeen years before
the last ,vestiga, Of foundation for the
system WILL be called in. OF course the
holders Of the bonds need not tender
them whom they are called for if they
choose to keep them, but they will lose
the interest from the date Of the CALL
So of course they will have to give them
up and give up their banks, unless some
other means Is found for continuing their
existence. The banks nov, hold about
one.third of the bonds outs., nding,
securing :hs:: circulation bs this means
So that there remains but about ak OF
seven hundred million dollars Of ths
bonds that can be taken up before the
foundation of the banks must SO. Thi
will be absorbed In ten years OF the pres
ent rate of paying OFF the national deb,
Even now, at every bond call some Q
the bonds held by banks are being calle
for, but at present the banks may replac
those called with others bought on th
markets; But by and by thenumber lei
over will be so email there will be moth
ing to be bought to take the places Q
those called. Yet with possible life o
but little over q decade, the number Q
banks goes steadily on increasing until 1
reaches 5000, with capital of between
FIVE and six hundred millions.
The number of banks organized thi
year will not be quite so large as las
year. Those of last year outnumberet
those of any preceding year. The growtt
in amount of capital in the past two OF
tutCo yCuto ID uoL ~ notiCcduIS hS Ill bOult
other years, for the privilege given them
come two or three years ago OF organize
tion with q capital as low as $4,000 has
lessened the aggregate capital put into
the new banks. Probably three. .fourths
Of the new banks organized now have
capital not exceeding $4,000.
New York and Pennsylvania are the
great States for national banks, as they
are for cigarmakers and political bosses
New York has about 800 of shem, and
Pennsylvania something like $50. OF
all the cities of the country, however
Pittsburg removes the dilapidated linen
from the shrubbery as q location fol
national banks. There are twenty. five
of them, or half as many for this city of
one hundred and seventy.f five thousand
as for New York city, with its million
and half of people. There are only
three cities in the country whose banks
reach as large q number rs those oi
Pittsburg, and yet there are eleven with
larger population Cincinnati Times.
Star.