Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1893-12-07
NATIONAL BANKS
Their Condition Told by the Comp
troller of the Currency.
During the Year I19 Were Organized.
While 15S suspsaded-Cau of the
Depression - Shrinkage Ia Re-
sources and LInAniiies.
THE CONTROLLERS REPORT.

I'M NOAlA AA0A~A<E4nC hNEOhE-
WASHINGTON, Dec 4-The annual report OF
the comptroller Of the currency will be sub
United 20 congress more briefly than the re-
pert usually made by that Ofioer. It differs from
former reports ia thss no tables appear In the
body OF the text IL shows no national banks
% have been in oBsrstion OF the close Of the re-
port year with 9 capital stock Of teeS bSs. 100,
represented by $4,000 shares, held by 10000
Shareholders
At the LAST report Of condition the total re-
sources Of the banks then in operation was
S. i09, $50. 2s4 The total amount OF circulation
was on October 81 e209 sit ,p9S net increase
during the year OF $50 $50 972 During the
year II9 banks were organized IN thirty
two states and territories with capital
stock Of 81, 230 OOo. distributed as follows For
ty-four with capital stock Of IS, 1876 900 ia the
eastern states. 81 with a capital stock OF a.
$4,000 west OF the Mississippi river ana "a with
a capital stock OF t3755 90 in the central and
southern states.
Many Banks Suspended.
Within the same period 15s banks suspended
with capital stock OF S3O,So0,0O1. or this num-
Der 50. with = capital stock OF Sls,2o5 0oJ, re-
sumed and o5 passed into the hands OF receivers,
with capital stock OF si0 So, 600. At the close
OF the year remained in the charge OF examin
ers pending resumption
Shrinkage In the Figures.
The aggregate resources and liabilities on
October 3. 1893 the date OF the last report OF
condition, compared with those Of September 80,
1892, were s4O1, 5Sl 69 less. The shriukage in
liabilities is accounted Tor by a decrease be
tween the dates mentioned in the following
items:
Capital stock, SS.022 CT. individual deposits,
S3l4. 29s 653, and bank and bankers deposits,
sl8l SIS l25. The decrease in resources is as
follows: Loans and discounts, S3-7 1f.926.
stocks. etc, S. 965 5t4 and due from banks and
bankers, 2054, 654 Cash o. all kinds in
creased S3o,96s6 60, including iSs1O Sl5 in COLA.
United States bonds held Tor an purposes il.
creased .40,60l, 80
Cause Of the Depression.
The comptroller reasons from the changes ia
these conditions that the business depression
of the last months was occasioued py the action
Of dep0slt0rs Withdrawing so much money
from the BANKS, which caused q Sudden CON
traction in the volume OF money needed or
employed fer business ANTS, and by the banks
beng compelled to o;l. in loaas aud discounts
tomeet demands Of deIositors, Nh.ct prevented
the makiug of new loans aud rendered it haz
sr5ous u the part ol Jan&s - grant renewals
cfceeait ar extensions.
HIs Resumption Policy.
mo suspension ~ national banks during Size
sa ssed ANA also thatoi resumption
eal tHe Question ot sumption Tie comp
fraI SAYS. ..tNlta b tul know e5ge 81
81 ele causes whi.h brought atoat
ta4er Suspension the policy Was Iutus
III te3 81 giving an banks which under or
trF Ell catas,aacas W1u.l nos have closed
..a.t S ae-o maau- cement had been honest en-
Opportunity to resume business. IGls police
sas oae which seemed 10 commend Itself II
tzs- uatrgaer .. proper 10 rus 4a aaaer t,se
e1fe45Iss safa"s, ana 70 is tcaevod i..c results
h-H Justified The EXPERIMENT ~ Is adoption
NJ Need of Store MouCy.
EFu1 ahe subIect % c4renoy legislation il
the following
the comptroller has been urged TO make
some specific recommendations with respect 70
a revision of the Laws So far as il pertains TO the
ISSUING Of currency After careful considera-
tian 81 tbs question - comptroller is OF The
opinion that aside from the amendments hers
tofore suggested allowing BANKS TO issue cir
culating notes 10 an smount equal 70 the par
value Of the bonds held 10 secure circulation
and abolIshing a portion OF The tax on na-
ilonal bank circulation, the pubic good will te
best subse we'd ~ this time by making no rad.
zeal change IN the provisions OF the law a. It
now st&ndS
In the meantime II is respectfully suggested
that congress, either through monetary com
mission created for such purpose. or through
the appropriate committees, obtain detailed in
formation OF the various systems OF banks Of
issue now In operation, and Also such iaforma
ton as is TO be ssosrtstued from skilled studen
Of hnaAoe and pr etical fnanciers, that il may
be able TO formulate > system complete and
harmonious