The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1892-11-26
UNCLE SANS CURRENCY
What Is Said In tho Annual Report Of
Comptroller Hepburn
MONEY IN CIRCULATION
Increase In the Amount OF Gold
In Banks - Recommendation
Regarding the Finances
OF the Country.

WARRINGTON, Nov. 2.-Tho forthcom-
ing report Of Comptroller Of tho Cur
rency Hepburn shows that 1G3 hanks with
an aggregate capital of Si5, ,2s5 900 have or
CANNED during tho year; 53 went into
voluntary liquidation and II became in
solvent. Nearly 81 per cent. Of tho now
banks are located west of tho Mississippi
river, and IS per cent. in the southern
states. Tho number OF hanks In opcra.
tion is 3,sss, having an aggregate capital OF
Sd.3, ,s6s.645; surplus and undivided profits
Ssi0.52A ,1T9; individual deposits OF 81, 1856.
s22,9S3; bank deposits. 3O.4os,2o2 and
total resources Of $3,6l0. .O94 .s91. The cir
cnlation outstanding shows net increase
for the year of SIC, ,2226. Tho gold held
by banks compared with Sept. %, 1891,
shows an increase Of SCI ,994. The surplus
and profits increase to 50, ,G63,0a0; the in
dividual deposits increase, Si71, 1902
and hank deposits increase of $780,
05s.42s. Over two-thirtls of the liabilities
of IL banks reported as having failed be
long TO tho Maverick bank.
The comptroller gives detailed informa-
tion of clearing house transactions, and
shows how, by means of bookkeeping,
substitutes of actual money nrc minimized
less than 10 per cent. OF tho business
transactions being represented by money.
The comptroller makes numerous rocom-
mendations. Among them 10 that tho tax
on national bank circulation be repealed.
The hanks have already paid into tho
treasury ST261O, ,iOl In taxes upon this cir
culation. They should only be assessed
sufficient TO defray the actual cost to tho
government Of providing q circulation;
that the government issue bonds 20, 30 and
III t, raau nj louy m Mi m
with which TO retro the present bonded
debt, which bonds may be used rs basis
10 secure tho national hank circulation.
The comptroller shows that by exchang-
ing 2 per cent. bonds, having the Same
length Of time to run. for tho per cent.
bonds outstanding at market value on
Oct. n. 1882. tho government could have
saved S67 ,l6l ,5b5. In addition TO furnish
ing a permanent basis for circulation IL
would prove great saving to the taxpny-
ers; that the comptroller of currency with
tho approval OF tho secretary OF the treas
ury be empowered to remove officers and
directors of banks for violations of law;
TINT the law be SO amended ms to prohibit
officers or employees Of banks borrowing
its funds except ON regular application TO
and approval by the board of directors.
In the chapter in regard to circulation,
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