Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1888-12-03
A FUNDING PROPOSITION.
Comptroller Trenholm on Funding the
Greenbacks-E;ank Statistics.

Comptroller Trenholm Funding the
Greenbaeks-BankS Statistics.
WASHINGTON CITY, Dec. G.-Fne comp
troller of the currency W. l.. Trenholm, has
his ANIMAL report ready. In it he makes the
following recommendation as to the disposal
of the greenbacks, and other matters: The
funding of the outstanding greenbacks in
bonds bearing not over ~ per cent per an
mum interest, available only as a basis for
national bank circulation, and payable only
upon the failure of the bank or upon lis dis
solution otherwise. The banks TO receive
par of the bonds in circulating notes, The
national bank redemption agency at Wash
ington to be transferred to New York, and
sub-redemption agencies established at each
central reserve city, all notes being redeem
able Unfortunately at any agency. The
enactment OF laws giving uniform effect to
commercial instruments such as bills of
lading, bills of exchange, checks, etc
With reference to the condition of the ma
tional banks, etc, he says the number of ma
tional bank reporting on Oct. was 3, f4O, of
which the capital stock exceeded 1872 0JO, go;
surplus funds, Ss5, O0O, 0OJ; other undivided
profits, 50, 001 900, and the outstanding cir
:ulation against bonds, sI5l, 702 coo The
individual deposits amounted to 81 $50. 00o-
900, and government deposits to S56, 600, 900
During the year there was net Increase of
ninety banks and net decrease in circula-
ton Of nearly ST., 100000. Since the Begin
ming Of the national banking system the total
claims proved against all failed banks have
been less than s52, 600, 900, and the aggregate
OF dividends paid upon those claims has ex-
cseded 81, 900, 900; total assessments levied
upon shareholders, 81. SOC. 0Oa; gross collec-
tions from such assessments, S., $40 0)O
Reports have been received from 8, 527 in
situations not national banks, namely: State
banks, .403; loan and trust companies, 100:
savings bank s07, and private banks, ,,2O3.
The whole body of these institutions report
capital stock, S2G5, 600 600; surplus funds and
other undivided profits, $40, 900, 0lp
OUR STOCK OF GOLD AND SILVER.
1t Amouts to Something Over One Thou
sand Millions.
WASHINGTON CITY, Dec. :i.--Dr. James P.
Kimball, director of the mint, in his annual
report on the operations of the mint service
for the fiscal year ended June 80, 1858, shows
the coinage of the year to have been as fol-
lows: Gold-2,350 ,534 pieces, valued at S2S,
S63, ITO 80; silver dollrs-3S, us, S73 pieces,
valued at s327ls,673,; subsidiary silver
coins-l2, as3, 52l pieces. valued at 81, A.
422 %; minor coins-60, a17, sl9 pieces, valued
at Si,2lS,99657; total-l09, 03o, 547 pieces,
valued at sG3, 7l9, 242.3!
The silver purchased during the year for
coinage aggregates Is. 2Os, sos ounces at cost
of 80. 237, 553, or an average of IS AZ cents
per ounce. The seignorage on the coinage
of silver dollars coined during the year
amounted to s., 401 ,9222, and Oh subsidiary
coinage to 81, lsl. The seignorase on the
coinage of silver from July l. 1878 to June
80, 1888, has amounted to S47, 536 6Sl.
The production of gold and silver in the
United States for the calendar