The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1886-12-03
THE NATIONAL BANKS.

The Comptroller of the Currency Makes
His Annual Report-Interesting Statis-
tics-The Bond Question-More of the
Work of the Postal Service.
WASHINGTON Nov. 26-The annual re-
port of Hon. WILLIAM l.. Trenholm, Comp
troller of the Currency, contains sugges-
tons for the amendment Of the National
bank laws, including the contingent liabili-
ty of shareholders, requirements as to re-
serve. the limit of loans to individuals,
more through examination of banks, and
their protection against unequal State taxa
ton. OF the $3.50 National banks organized
2,S5S are now in operation. OF these ia
have been organized during the last year,
with capital of 81, 100000 and circulation
of &, 100000 Twenty-four banks went into
voluntary liquidation during the year, one
ceased to exist by expiration of charter,
and eight failed. Since the beginningof the
system in 1868 only 112 National banks have
failed. OF these, sixty three have paid
their creditors in full and fifteen have
paid interest in full and five in part Over
80 per cent of all National bank stocks is
held by residents of the State in which the
bank is located, more than 81 per cent is
held by natural persons, and IS per cent. of
the shareholders are natural persons. The
total number of shareholders is 223 010; the
total number of shares over 100000. Tie
contraction in National bank circulation
during the year exceeds S56,000,0O0.
Besides the usual tables showing the con-
dition of National banks at various dates
the report contains an extract which spaci-
fies each item of their resources and liabili-
ties. A large diagram exhibiting the many
features of the misunderstanding system
and their variations during the last twenty
one years accompanies the report. From
this it appears that the aggregate deposits
in the banks has increased from S523, 100000
in January, 1886, to 81 ia, 600, 900 in October,
1886, while loans and discounts have risen
from $500, 900, 900 to 81, 443, 100000
The specie held by the National banks in
1866 was $19,00000O; in October, 1875, twas
only rs, 200, while in July, 1885, it was
SIT, 100000 and is now $156000,000.
Mr. Trenholm declines to say whether his
report contains any specific recommends
tions in regard to a modification of the law
making United States bonds the basis of
the National bank currency, but it is I'M
derstood at the department that he has pre-
sented a strong array of facts and figures
showing how valuable the system has be-
come to the entire country and how i'm
portant it is that it should be made adapt
able to the needs of communities in the
West and South where vast natural re-
sources await development by the aid of
outside capital.
WASHINGTON, Nov 26.-Third Assistant
Postmaster General Hazen in his annual
report to the Postmaster-Ganeral refers to
the encouraging outlook for the current
year and says that there is scarcely doubt
that it will realize a still greater improve
ment in the postal revenue. The report
says that additional revenues may be ex-
pected from the extension of the special
delivery system, the admissions of liquids
as mail matter, and the important reduc-
ton in the price of stamped envelopes I'M
der contracts recently entered into For
the next fiscal year he estimates the def
cheney of revenue at 81, 729, 553, which is
only 1924 ,014 more than for the year ended
June 30, 1884, and So, 1862 less than for
the year ended June 30, 1885. The
estimated amounts chargeable to the
general treasury for the current and
the next fiscal years will probably be
greatly reduced, both by an increase of the
estimated postal revenue and by deer ease
of the estimated expenditures. From this
the report argues that with prosperous
condition in the business of the country to
favorably influence the revenue, and with
a continued exercise of care in regulating
the expenditures, the postal service will
again at no distant day become self-sup
porting institution.