New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-02
Gifts.
Hermosa and Alba Violet perfumes.
C0lgate's.
RETIRE THE GREENBACKS.
THAT Is THE BURDEN OF CONTROLLER
ECKELS'S REPORT.

FOR GOVERNMENT IssUES-soME sTAIls-
TICS AS TO NATIONAL BANKS
wae,irgton Dec 1.-The report of James H. Eek
els Controller Of the Currency, when VIII De sun
,ri,tad 70 Congress to-day. may be significant as
forecoe, ~ the tone Of the Presidents message IN
e. far as II relates TO currency problems The Con-
troer takes strong ground in favor OF the re''ie-
ment of the greenback issues and the SUBSTITUTION
for them OF a National banknote currency. DE says.
honTs Hspos.ed 70 secure the same and the reducing
OF the per cent of sem-annua tax levied upon saSn
nStes has been a touched upon the subject at all
and by every Controller from the time OF ana iicuo
hiSltng H'i the former and the provision of the law
governing the amount OF 1he la hoo however
At time when the desire Is so fTequsmty cs
and COMPLAINT is made that National banks are in
different the note Issuing function ves'ou III mem,
it may well be e der ba Gy when viii make it Of
sufficient interest to the National banks 70 pay pay
ms in the United States is now largely in the de,
posit feature OF it, and thus Is OF ereatet ncr
deposits than It Is !ssue notes upon return 50
small as to scarcely justify the expense and trouoe
Banks are not eleemosynary institutions, and
therefore engage only in MAJ b W na hand entitled
to no more favors than are granted to otner cor
indivdusls on the other they should not be denied
any privileges which they may Justly claim ah no
r Gr nhe o It Is unqGestonaby that National
banks T ;SS lsrTs arsns
less locking up OF large part @, ,he' ,slpnned
AVA, 'brousb Excessive taxation imposed did
hot confront them. They certainly would 40 SO II
naia and Cancelled and the channel now clogged
by them freed for banknoe circulation; con-
cmsiyeiy demonstrates that the best and most "a
O1 issues hGf Sat p ssn ioT'h maSe Gre
by Governments ALWAYS expensive. ana unue t
every circumstance source SeT C peopIes business
Interests clearer proof Of fhs GouS When Wo
have Witnessed on the part of this Government IN
its efforts maintain the full credit 81 i1S 'a'
The advantage accrung to the rea I
the substnGS9 of SnnanEe Sr great The need
OF maintaining gold reserve 10 met ret,r tde would
rng ne'aT reasonsSie tine be obviated End de-
lvered from this vexaous ana expemsi.e ite
the Treasury Dep ~ INJECTING the revenues OF the
Government needful to meet governmental
with the relief gained to it through The remov b
Of this bHTdea would the conn indviduai citizen
Very operation would no longer be harassed 10y ' o
uncerra snn, or the future the currency Obligations
now forced by his Government throusn env ~ ~
visions 81 c q" may be discreded and dis
honored The RELOCATING OF note ISSUE ehttieE ~
the PAM r,,nl wapts of trade which IS Impossible
Win a legal mandate decree ne an amour, o. 80,
uIy Ssu of tbe year han another whether or no
there be corresponding s, }be h,,s;r~ss in
! hand. ,o,, ., tho
II is suggested that as necessary element 10 'i'e
securing of proper elasticity Of issue In our Daih
not. currency Section of the Act OF July L. lo'-'
regulating the retirement and Issuing OF crcu.aHo
N hanks within a fixed period of time. should De
repealed and also that such amendment should Dc
made 10 the law will necesstate the DahNs KEEP
ing in the office of the Controller OF the currency
a sufficient amount OF banknotes as Will enable
them to secure circulation at once instead OF after
a period of delay, frequently of sufficient duration
AZ TO make the Issue unavailable to relieve the
pressure existing at the time of ordering the same
In addition TO the foregoing the report shows
briefly the various systems OF banking In operation
! in foreign countries and in the States ana Terri
| tories comprising the Union IS afordns informa-
| ton as to the different methods employed TO IL
| cilItate commercial exchanges and sustain bah@-
note circulation"
! The number of National Banks organized since
the first certificate of authority was issued on June
! 90 1862 to the close of the report year mas peen
! 502s making a yearly average of 49, OF the mum
Der Organized. there were in active operation on
! October 81 last S,75 with authorized capital
stock of seei 95 represented by 2S).MD share
| holders or an average capital stock OF $IsH2 for
each bank: average number Of shares to each zISo'
and of shareholders. II. The tota. amount Of their
circulation outstanding 2lS,SS165c, Of which
! amount NsO1sD@5i was secured by United States
| bonds and t29 7OS669 by lawful money deposited
with the Treasurer of the United States
During the report year fortythree banks were or
ran,zed in twenty different States with aggre
| got. cantal stock of 81 $4,000 OF these banks
twenty-eight. with a capital stock Of &5SoVV, are
| in the northern and northwestern sections of the
/ country and fifteen. with capital stock aggregat-
ing g. $50 600 In the South and Southwest. The num-
| her of banks organized during the year was Jess
than 30 per cent of the yearly average.
d,lriu ha NJ
"a ,q- IN The amount Of circulation secured by bonds
ana gross increase of s6S22,j.o in the total crcula
ton.
ON September 2S 1895. the date of the last report
Of condition OF the 3l2 banks then reporting. their
total resources was s3423 go 4S 6s. of when s2os
S l0e y represented their loans ana discounts ana
Sssi577 so 81 money Of all kinds in bank
az ,ber Liabilities 81 7Ol c535H IS represented indi-
vdual deposits SscG SIS $50 IS surplus ana net undi-
vidod profits and Ss2,4Si.so 80 outstanding circua-
ton secured BY bonds
-, ,hc ~ hanks in active operation. 2.sol with
can,a stock Of $685. 1852 are IN the northern ana
/ r.beas,ern half Of the country, and 81 with
caulfaI stock Of S26 $3.50 In the South ana SOUTH
v.es, There are 2.sl National banks east OF the
Mssiss,ppi River with capital stock of S'2"ei2's2
and / lol west Of the Mississippi. with capital
stock Of $i25eGl.%0
/ ,.,,s tn sixteen States. with capital stock OF
go ccg eo ard "A total circulation Of SS22b2'' mas
heer extended during the year The number OF
h,nks leaving the system hy reason Of the eXpi-
,,io, II thef corporate existence was four having
- capital stock Of $1,000 and circulation OF h2s'o
/ -, 80 IVA were In NewYork and one each IN
! 49,. all Pennsylvania new association with
,,,,.i sfock Of $50 100 and y circulation OF s225,o
! s,c,e.1ed TO one OF the two in New-fork
/ Daring the year ending october 81 1876 The cor
-,ro,s existence OF twenty-eshi banks with caI-
| tai stock ssgrcgltng $AE's'S" ana circulation OF
:, ,,o IN, III exnlre In the succeeding ten years
| -, 1905 ,o 1915 the corporate cXstenr" Of Ss9
banks having a capita! stock Of :i@o9A'" ana cii-
! culation OF s3iGl.ss7. Will expire.
/ The number Of banks leaving the system CURING
the year through voluntary LIQUIDATION was h''y-one
having capital stock Of "c'Si" ana 'n'"'''0" o.
| 81. ls2Oo0
Receivers for thirty-sx banks have been appoint .
| anrlnr the xnar- The agCregaie oap..lI STOCK OF