Morning journal and courier., 1889-11-26
THE AMRRICAN CONFERENCE.

JCd4ASos
 THE AMERICAN CONFERENCE. Tho Brazilian Delegates are Recog-
 nixed-F. 8. Pierera and HI. Ransom
 whitehouse Elected Secretaries.
 WASHINGTON, Nov. 25.-Twenty eight dele gates were present this afternoon when tho International American conference was called to order. Dr. Zegarra, of Peru, presided. The temporary secretary, Dr. Guzman, read the report of the committee on credentials, passing favorably upon the credentials of the Brazilian delegates and of Mir. Cornelius Bliss. Delegate Min (Uruguay) wished to know whether the Brazilian credentials ema- mated from the imperial or the republican government.
 Senor Hurtado Colon bia) moved the pre- vious question upon the adoption of the re- port desiring, as he said, to cut off any in- quiry or investigation respecting what is now going on in Brazil, as it was, in his opinion, subject not proper to be touched upon.
 the report was adopted and the Brazilian delegates seated.
 Dr. Min moved to proceed to the election of two secretaries. This motion prevailed and the names of F. 6. Pierera and Fl. Ran- som Whitehouse were submitted by the for eign and United States delegates respectives ly. MT. Whitehouse is citizen of New York and is at present secretary of legation at Mexico. MT. Pierera is the representative of the Spanish American commercial union and is also from New York. Both of the nomi- nations were accepted and MT. Pierera took his place. Mir. Whitehouse is absent from the city, but will be here in few days.
 The conference next resumed the consider tion of the rules, beginning with the eighth delegates by the president, and this con stunned the time up to adjournment.
 WASHINGTON NOTES.
 The Report Of the Comptroller Of tho
 Currency-The Condition of the Na-
 tional Banks.
 WASHINGTON, Nov. 25.-The forthcoming report of the comptroller of the currency covers the year ended October 31, 1889, at which time there were in existence 3,319 national banks, the largest number in opera ton since the inauguration of the system. These associations possess an aggregate capi- tal of $e20, 74.385.
 The last reports of condition exhibit their resources and liabilities on the Both day of that time was 3, ,2o0. Within the year 2l1 banks were organized, having an aggregate capital of $21, ,260.00 Thirty-six of the new banks were organized in Texas, the largest number in any one State. The State of Pennsylvania has now the largest number of associations in operation, Massachusetts leads in point of capital stock and New York in respect to deposits and volume of business Within the report year Al banks went into voluntary liquidation and only two failed, leaving the net additions to the sys- tenn 16S as against 90 last year and 123 the annual average increase since the inaugura- ton of the system. Notwithstanding this gratifying increase investigation of the facts demonstrates that the system has not kept pace with the necessities of the people for increased banking facilities. This is evidenced by the marked increase in percentage of State banks organized the | last five years as compared with the percent- | This growing tendency to incorporate under | the statutes of the several States is not at- tributable to any change in the law affecting either State or national institutions, but is charged directly to the fact that no profit results to the banks by reason of the deposit of bonds and issue of | circulating notes. It Is claimed in fact, that
 an actual loss results in many western States
 and territories where the interest is highest | and the banking facilities most needed. II is demonstrated through tables prepared by
 tho government actuary that there is an
 actual loss resulting to national banks by
 reason of their being obliged to deposit bonds
 and take out circulating medium wher.
 ersassr sas sssn z.ss z of per
 As prevailing rates in all States west of tht
 Alleghanies is in excess of that named, Il follows that in the greater number of States
 and those increasing most rapidly in wealtf
 population, the enforced deposit of bonds tt
 secure circulation is an impeachment in thu
 way of organization of new banks, and has
 tendency directly to diminish the volume O existence. In confirmation of the statement
 made attention is called to the fact that gross decrease Of national bank currenc, during the reported year was $37, ,486, 130 an, , that the deposits of bonds of the new bank organized during the year were only $11 300, 1 GOO in excess of the minimum requirement
 of the $1 46, AT. zoo. United States bond al banks on the 3e of Septembe $51, 1,174417 is in excess of the mini mum reouirements. This excess on October 1888, was $7o, ,S79, ,220, showing decreas , during the past two months of $28, ,7S0 80;
 1t is deemed certain by the comptroller thf
 this withdrawal of bonds held in excess (
 the minimum requirements will continue { r | kCuK 6o tno PIc5out COu0AVAVnb cAASt3 uaA " Q asserted that legislation is necessary to pr vent contraction of the volume of nation
 bank currency. In the opinion of the comI
 troller the laws governing national banl
 should be 50 amended as to produce the fo I lowing notifications:
 1. The minimum deposit of bonds to seou '- circulation should be 6. per centum of ca V ital in respect to corporations having . cap . tai of $500, 900 or less, and for all ban
 having greater capital a minimum depos 70 of $3O, 900 in bonds should be required. = 9. Circulation should be issued to the p at value of the bonds deposited.
 V Semi-annual duty on circulation should m m.a so reduced as to equal 1-4 of per cent. P iio annum. It is held that these changes in t @ law would do little more than save the ?
 tional banks from loss on account of circul
 ton if the present premium on Unit
 States bonds is maintained.
 " FOREIGN NEWS. m
 George HI. Pedleton, she Late Unit ,. States minister to Germany, Dies
 Berlin.
 ee BRUSSELS, Nov. 25.-Hon. George H. P " aIA&on late TJnitad Skakea nnfniater to Berl