The morning call., 1893-12-04
ECkELS' FIGURES.
Report of the Currency
Comptroller.
INCREASE IN CIRCULATION.
Interesting Statistics About
National Banks.
SOME CHANGES RECOMMENDED.
The Policy of Issuing clearinghouse
Certificates Classed as a Very
Beneficial Measure.
INCREASE IN CIRCULATION.
About
SOME CHANGES RECOMMENDED.

WASHINGTON, Dec. 3.-The annual re-
port of the Comptroller of Currency shows
that 1896 national banks were in operation
at the close of the fiscal year, with a capi-
tai stock of $685.. 100 held by 100000
stock holders; total resources of banks.
S3, 100, 563 2S4; total circulation. S209, 81. =
993, a net increase during the year of
$50, ,8SS 962. During the year 1l9 banks
organized with a capital stock of S11. $780,
600 a. In Eastern States the capital was
S5.136, 00O Al west of the Mississippi River,
capital, 81 $40, 600 "a; in Central and South
ern States. capital. s3,755.O0O: banks sus-
pended. 1853; capital. $40. SOC. COO; So re-
sumed with capital of S1S 205. 600. and 65
passed into the hands of receivers; capt.
tai, 10,SS5.000.
At the close of the year seven remained
in charge of the examiners. pending re-
sumption. The shrinkage In Liabilities
during the year was S400.53I, ,613. This
was caused by decrease III capital stock
of SS,032 677, individual deposits of S314,-
29S. .653. and banks and bankers de- oslts
of S1S1, ,33S, 125. The decrease in resources
was S465, 427. .144 Cash of all kinds was
increased $50. .96S. 606. including SS,410. 315
in gold. United States bonds held for all
purposes increased S4UU,UUOUUU.
The Comptroller followed the policy of
giving all suspended banks an opportu-
nifty to resume business. with most salts
factory results. He defends the policy of
issuing clearinghouse certificates. as
adopted by the banks last summer. as pre-
venting an acute panic and tending to re-
store public confidence.
He recommends amendments to the Lax
as follows: That every bank may issue
circulating notes equal in par value to the
bonds deposited and reduce to one-fourth
per cent per annum the tax on circulation !;
that the Comptroller, with the approval
of the Secretary of the Treasury be en-
powered to remove bank officers and di-
rectors for violations of the law; that no
executive officer OF bank employe be per-
mitled to borrow bank funds, except on
approval of the Board of Directors; that
bank examiners be required to take the
oath Of uff1ce and file such bond as the
Comptroller may require; that the Comp
troller be authorized to appoint, with the
approval of the Secretary of the Treasury,
two general examiners to assist and super
wise the various examiners.
He is of the opinion that apart from
those mentioned no radical change in the
provisions of the present law should be
made. in view of the fact that there is now
very great abundance of unemployed
currency in the country. 1t would seem
that whatever needs appeared some months
since for the enlargement to any marked
extent of the circulating medium has now
ceased to exist, and therefore Congress is
afforded an opportunity Of giving the whole
subject careful research and investigation.
In the meantime il is respectfully sug-
gested that Congress, whether through
monetary commission created for such pur-
pose or through appropriate committees,
obtain detailed information of the various
systems of the banks issue now In opera
tion. and also such information as may be
ascertained from skilled students of finance
and practical fnanciers as may be able to
formulate system complete and harmo-
nious.