The Helena independent., 1893-12-04
THE CoMPRoLLER's REPORT.
Ho Makes Some Rec 1m,n end ations Re-
gnrding the Banking Law.

ho makes Somo Rec 1mtn end 0tlOne Hc-
gnrding the Banking Law.
WASHINGTON, Dec. 3.-The annual report
of the comptroller OF tho currency shows
8. 796 national banks In operation at the
close of the fiscal year, with capital stoc X
of $695. 55s 100. held by 10000 stockhold-
ers. The total resources of the banks are
80. 1O9. .E63. 2S4; total ci rcu!ation. $2o9,311.-
o93 net increase during the yeur OF $780,
1885, 962. During tho year 1l9 banks were
organized. with capital stock OF l23o,-
600. OF which A were in eastern states
capital So. 1856 900, and Al west Of the Mis-
sissippi river. capital stock $2.8i0.O00. and
q in central and southern states. capital
So. 75b.O00 Tie number Of banks sus.
pended was 159. with capitnl OF $50. 800. 900.
Thirty six resumes. with capital OF $1S.-
2O5. 600. and 65 rassed INTO the hands of re-
ce,vere, with capital of SIC. 1856. 600. Al the
close of the yaar seven remained in charge
shripknue Of liabilities duting the year
Of capital stock Ss,oss.677, individ.
ual deposits $31, ,299.6 .653. banks and
bankers deposits *1Sl, 33s. 1875. The de-
crease In resources we're S465. .427. IA. Cash
of all kinds increased $50. 963. 606. including
3S7. 41O. 315 gold. United States bonds held
tor all purposes inoreascd $40, 900. 900. Tho
comptroller followed the policy OF giving
ali tho suspended banks IN opportunity to
resume business with mos: satisfactory re-
suits. He defends the rolioy OF issuing
clearing house certificates by the banks last
summer as preventing an acute panic and
tending.to restore public confidence. He
recommends amendments to tho law as fol-
lowe: That every bank may issue oiroulat-
ing notes equal 10 the par value Of the bonds
deposited; to reduce to one-fouyth peY cent
per annum the tax on citculntioni that the
comptroller. with ths approval OF the sscre.
tary OF the trsasuty,. be empowered to re-
move bank officers and directors for viola
tions Of law: that NO executive officer or
bank employs be permitted to borrow bank
funds except on approval Of tho board Of
directors; that bank examiners bs re-
quired to take On oath OF Office
and flo such bond a. the comp
tsoi!sr may require; that she oom-
trollsr be authorized to appoint with
tho approval of the secretary OF the treas
ury, two general examiners TO assist and
supervise the various examiners. He 10 Of
opinion that. apars from the above, no
radical change from the provisions of the
prsssns law should be made. In view Of
the fact that there is now a very great
country. sit would seem that whatever
needs appeared somo months since for en-
lar rRing TO any marked extent the oireu-
iating medium, has now ceased 10 exist;
and therefore. congress 10 Afforded An op-
poriunity Of giving the whole subject care
iul research and investigation. Meantime
il IL respectfully suggested that congress,
either through . monetary commission
created for such pur pose. or through ap-
propriate committess, obtain detailed in
form alton of the various systems OF banks
of issue now in operation. and also such
inform alton ~ may be ssoertsined from
skilled students OF finance and practical
e,ro hA nh In IA m n IA :
system complete and harmonious.