The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-03
EoKELs' ANNUAL REPORT.
A Commission for the Revision of the
Banking and Currency System.

A Commission for the Revision of the
Banking and Currency System.
Washington, Dec. 2.-Suggesuons
have been received says Controller Of the
Currency Eekels in his annual report,
which will be submitted to congress to-
morrow, from many eminent financial
sources. that the whole question of a
banking and currency system ought
to be referred to by congress to a com
mission to be created by law, appointed
by the President, and clothed with proper
authority. "A commission non-partisan
in it's character" he says, composed Of
men of eminent abilities. could unques-
tionably devise a currency system sound
in every part, and one which would com
mend itself to all interests of the country.
1t could largely take the question out OF
politics, and have it considered simply
in its business aspects and merits alone
but if the present congress is to enact a
law upon the subject, the appointment Of
a commission could avail nothing If,
however nothing more definite can be ac-
complished the question Of creating such
a commission ought to be considered and
acted upon"
The report also gives information in
regard to the organization, supervision,
and liquidation of national banks for the
year ended Oct. 81, 1894 1t shows that
during this period but so banks were or
ganized. with a capital stock of IS, ,2s5, 900,
the smallest number chartered, as well as
the minimum amount of capital, in any
one year since 1879. OF these new banks
q are in the northern and eastern states,
ten in the southern states and 13 in the
western or trans Mississippi states. The
charters of Al banks were extended during
tA rfv,ar to 4
stock of s5,143,0 00O and a circulation of
$1.67S, $50. Ten banks, with capital stock
of $1,5750 900, which were in the hands of
receivers at the date of the last report,
resumed business during the year, and the
charters of six, with a capital stock of
$685. 900, and circulation amountin to
S2S3, $50, expired by limitation, five of
which were succeeded by new associa-
tions, with capital stock Of 5000, 900, and
circulation amounting to 1922
During the year seventy-nine banks,
with an aggregate capital stock Of S10-
AS 900, passed out of the system by vol
untary liquidation; twenty-one, includ-
ing two which failed in 1893, with a capi-
tai stock Of 2,H0OO0, became insolvent
and were placed in the charge of receiv-
ers.
The usual statistics are furnished
in regard to banks other than national,
which show that the number of good
banks under state authority and in active
operation July J. 1894, was $685. and re-
ports Of condition were received from 1854
Reports were also received from 9o4 pri-
vate banks and bankers. and these. to-
gether with the state bank reports. have
been distracted and their resources and
liabilities are shown in detail in the ta-
bles which form a part Of the report One
hundred and forty-three insolvent banks
demanded the supervision of the controller
during the year.
The report contains an interesting anal
ysis of returns received from banks, in
response to an inquiry made by the con-
troller, as to the use Of credit instru-
ments in daily retail transactions. A study
Of the table in this connection shows
that the extent of the use of such instru-
ments varies widely in different parts Of
the country. Mississippi heads the list
and South Dakota shows the smallest per-
ceutagc. Alabama shows s. per cent. in
checks and orders; Georgia 702 per cent
and Texas 67.5 per cent.
The amount of retail payments shown
by the returns is $5,999,065, or in round