New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-03
Made by Colgate & Co.,
Used by the best families.
1906 Laundry Soap.
REFORM OF THE CURRENCY
CONTROLLER ECKELS URGES THE CAN
COLLATION. OF GOVERNMENT ISSUES.


DISTURB EXISTING CONDITIONS UNLESS
PRESENT LAWS CAN BE
IMPROVED UPON.
! Washington Dec. 2.-Suggestions nave peen re-
ceved says Controller of the Currency hcheis !"
his annual report, which will be submitted u wi"
gress tomorrow, from many eminent ih""o''',
sources that the whole question of banking anu
currency system ought to be referred py |o"-
Grass 70 q commission to be created by law. APP
nointed by the President and clothed with proper
| authority. He continues:
4 commission non-partisan In It's chaI ,i ,n
| comnosed of men Of eminent abltleS couiu uH
ouunsttionablv devise a currency system sound IN
every part and one which would coil n,id largely
to every interest of the country IL cou,u "a con
take the question out Of politics ana nave ed mon
sidered simply in It's ,b BUSINESS presi Congress
enact law upon the subject the appoin W
COMMISSION oain more DEFINITE can be accomplished the
question OF creation OF such coi'''''S' e ~
be considered and acted upon
The report also gives full Information In regard 10
the orranization supervision and liquidation OF 'he
National banks for the year ended oc'ooci o.
$50. I, shows that during this period but hi'y
banks were organized. with capi'ai STUN "a
& 2s5 oco. the smallest number chartered as
well as the minimum amount OF capita'' III any
80 ,aar since 1879 or these banks twenty
seven are in the Northern and Eastern States, Ten
IN the Southern States and thirteen III ,he "eS'
ern or trans Mississippi division Inc c"di 'e'S VI
forty-one banks were extended uui'nb Wv 49,
having an aggregate capital stock of s5lZoo'' ana
o circulation of sl,G7So50. Ten banks wig a
cantal stock of sl575OoO. which were In the hahns
of receivers at the date of the last report res'eu
business during the year. ana the chai'eis W 90
with n capital stock OF s6o'.Vp ana ci'0"
amounting TO $3.50 $50. expired by hHiita"on' NV
| NJ which were succeeded by new assoc'a'io"s
| with capital stock Oh F"V0'V'0 ~
| amounting TO $92250. ,,
| on October g. 1894 the total NUMBER Oh Na"o"'
banks In operation was S156, with an au'.o 81 49, ~
cap,tal stock OF $672 S65 represented by '9'VO
shares Of stock. owned by 2S7si2 Shareholders
| ~, October . 1884, the date Of their last report
! of condition the total resources OF the paHAS We"
g. 47s o55 o. of which their loans ana
amounted 70 80 COZ l22 1871 &c. and money OF all Nlnus
In hank s422 42S 1872 IS. OF their haolh'ies si-''
sou represented individual deposits SSStlA'-
| oso 10 surplus and net undivided prohts ana Si'-'
| 3sl s7s circulating notes OUTSTANDING
| The total circulation OF Nationai pannS va
| 49,. ., 1904 amounted 10 s2oT,i7261, net de-
| oreose during the year OF N.7h.5S. and gross
| decrease OF &6l4.ssi in circulation seeureu "
bonds. Ia. -, no.
| During the year. seventy-nine BANKS WIN an S
erecate capital stock OF Slo.i''ooo' passed. GUY "
the system by voluntary hquidauoh '"e"'!
including two which failed In 1893 win oAp''"
| s,oct NJ s277o1O became insolvent. ana were
placed In charge OF receivers
| A COMPARISON is made OF the operations OF 'he
wear lust closed with the statement"
| in the report OF the Controller for the previous
| vear which shows that the number OF ne" ''""'
| .,ad d.creasel sixty-nine voluntary iiquida-
lions increased thirty three. the NUMBER o. !"
| ceiyers appointed decreased forty-iOui' eN''"S
| Of corporate existence increased one e~p"""
~ charters BY Limitation increased two inc nun"
| her of banks organized to succeed eNp'f'hs "Ss
| Citations increased one. and the totai "u'o -
active banks decreased forty a.,
Abstracts OF reports made In response 10 INV
five calls required by law are iufhisneu W "
| Controller indicating the changes IN the S'"'" "
the banks at different periods throughout '"e 80
and for the purposes OF comparison similar i''o'
| .a,,on "a v,v.n for the previous year. These Ie-
| nor,s show that individual deposits declined rom
81 7s4 4Sl77 in December. 1892. TO their lowest po'
81 Al l2432D In October 1885 and between 'he ''S'
named date and october 2. 1894. steadily ihcfeaSe'
and reached on the latter date N'zs'f'S'i'' ~
ss 900 90 less than In December. ~ the h's"'S'
nont reached during the two years named.
The specie held by the banks on December .
1899 amounted TO 500 $500. ana giaduaH| "e
creased to slS57sl.l73 on July y. iSS after "nlcn
il increased to s25s sr s2S, and decreased 'hereae'
TO 1921 80 Gji. October p 1884
The average annual dividends paid by the Dahh'
he,ueen March 1868 the date earnings ana di'i
dends were first reported to the office, ana Maic"
1894 Is shown to be N355,sli, and the net eaih''s
So Z37 454 The rate per cent OF DIVIDENDS oec''''
varies from Is in 1870 to 6S in 1891 The aNeras'
ing the last year have amounted TO only % pc
. cant and dividends . per cent the sInaiies
percentage OF dividends ever paid by inc oA"hs
and the percentage of earnings iails De'o" al
the years except 1873 and 1873
In order to place banks upon dividendpaylhi
! basis In communities where banking Is Overcome
the Controller suggests the necessity which bank
, have found OF curtang expenses by either a fo
banking interests which would also have ten
dency to check reckless banking sprinslhs iso,
, An ,inwholesome competition OF rival concerns i
Obtain business which could all be handled BY on
Ss1S This pIsn
las and in other places with satisfactory results
h The ba usHs sther than National which
hat the number organized under STATE auhor IT.
and rep oGVe o. peondton received Re
ports also received from % private s DahkS AMI
reports been sbsracted ana 'her the pabe
and liabilities are sso ,H r ln ae.a III '"e
on October 81 1884, receivers were IN charge
@ nf recvershps in active operation durin
the past year has been greater man IN any no .
year since the origin OF the Na''oha' '"'""s '''
Since June 90 1863 the date the Controllers seer Ger
to the first association organized under the Naona
PSI ,SeHs % Shh
stored to solyency leaving the assets OF 2 No
vane of the assets OF these rs banks amounted
sSolo The figures show an avetag seT Oi
Collection Of these assets at total cost Of $685.
average cost OF trife over per ceh OF =,
gross proceeds. The average time required 10 cor
plete the liquidation OF the 1870 recevershps VINO
. have been finally closed was five and two-hf'h
g years. -. ,,..t.hoa =,
: Information and statistics are also furnished
to the failures OF banks other than National durh
The year the number OF which Is shown to be sixty
a | two eliminating mortgage companies not hohs
= banking business. 49,. ,, -, -
t | The report contains an interesting analysis OF r.
turns received from banks In response TO an n!uI
| made by the Controller as TO the use or cred,, u
= | s,ruments In daily retail transactions STUDY
r | the tables in this connection shows that inc =,
| NJ he OF Instruments
r in different parts of the country Mississippi heac
G the list and South Dakota shows the smal.est pe
i | Alabama shows G. per cent In cnccks an
Il | orders. Georgia 702 per cent and Texas 67:5 .
J. Of retail payments shown by inc u
= | turns is IS 9g9 OG5 or In round numbers. S6D0D