The evening times., 1895-12-16

| less loss on account OF their inability 10 Sc
cure means for use in the conduct of their
business. As the national banking law il
! now construed. branches cannot De main
| tained except hy converted state banks
which are permitted 10 continue such
/ branches as they had in operation at the
time of their organization Under the
| tional system. and these are so few ia num-
fiber as to be Of no great Importance.
/ OPERATION OF BRANCH BANKS
During the past year official informa
| tion has been collected through the office
Of the Comptroller OF the Currency in rcia-
! ton to the banks and banking systems of
| tweut y-fivr countries. from which ~ appears
4 that, though their systems differ widely
IN MANY other respects, they all permit the
nSta bil>dTIt.u mt md operatioiiGT branch b1nks.
and one Of them. France. makes their
I ltbiishment compulsory. In nearly all III.
/ old state banking systems in this country.
\ bra Dchc> Tor the transaction "T CONNER
cldI business. and. i'll some cases, for the
! issue Of notes. were provided for, and they
/ are now. authorized and in operation un-
! der the laws of twenty States. So far AZ
| known, the policy of permitting the estab-
( ffshnent of branches has been entirely sue
eessful, aud the fact that il has been adopt
ed aud adhered TO by so many countries in
different parts of the world affords good
reason for the belief that ii would not
| fail to produce satisfactory results here
as a feature OF our national bankins sys-
| TEN.
lit is not probable that any pan for the
permanent retirement of The United States
notes and Treasury notes VIII Re adopted
that Will not REQUIRE considerable time Tor
It's complete execution, and therefore re-
! spectfuily urge upon Congress the pro-
priety of prohibiting any future issues OF
such notes. OF of national-b1nk notes of
/, less denominations than ten dollars.
The reasons Tor lhis eSaInnitidatioh
need not lie repeated here: such policy
would make room in the circulation for sill
Yer coins and silver certificates OF small
denominations, thus increasing their use
among the people i'll the trailsa ctinn OF their
daily business, and preventing their frequent
return to. and accumulat atiGu in. the Treas
ury. The large silver certificates now
outstanding could be retired and canceled
when received. and smaller ones substi-
futet for them. that there would be 10
iiminution of the amount of small currency
in circulation. and the ultimate result would
bc an Increased use OF our present stock of
silver In the form of subsidiary coin or
standard dollars and certificates.
r" REVENUES FOR 1895
The report states that the revenues OF
the government from all sources for the
fiscal year ended June 80, 1895. were
$500 ,313. 203.30, and the expenditures
$433. .iTS.426 As. showing deficit or
In addition to the ordinary revenues col
lected during the year. the cash in the
Treasury was increased by de .he d3 ,2Gw1nT neI
cent ten year bonds issued under act OF
January IL. 1875. S5S.53S.5oo: by the
purchase of S6S 1S;g4i62 gold dds so,n sa a. a
3l5,40o. aud from the issue OF Der cent
bonds in liquidation of interest accrued ON
year, S2,410: making total OF ST. i,651.-
2I4.62. The securities redeemed curing
the year on account OF the SINKING Iunu
amounted to 81, 1,l36.366.43.
As compared with the fiscal year 1884
the receipts for 1895 increased SlI.5l0.-
1O5.O1. There was decrease 9t 81 ,32S.-
9SI ga in the ordinary expenditures.
1t is estimated that for the current fiscal
year the revenue from all sources VIII be
S431 .90T.407. and the expenditures Ior
deficit of 81 100000. Upon the basis OF
existing laws. the revenues Tor the fiscal
year 1897 are estimated at S464.Is3--
l2O75 and the estimates oil appropria-
irons. as submitted to Congress hy the sew
eral executive departments, call Ior an ex-
rentiitre-cxclnslvcO OF ne sinking innu-ot
mated surplus of Sc SOS. .S26.S3.
OPERATIONS OF THE TREASURY.
.sThe report of the treasurer of the United
States shows that the total assets OF the
Treasury OH June 80. 1S9o, We're So, 4S.-
during the fiscal year. In this aggregate II
included S2S. .1O1. 1.644.91 on deposit with
the States under the law OF 1896. togethey
with S1.41S.S22-sS of other unavailable
funds The deduction OF these sums leaves
SS12.627. .122.05 as the available assets.
against S775.31O. o59 90 on June 80;
1891. The amount Of gold. silver. ana
United States notes on deposit on account
OF outstanding certificates and Treasury
notes decrsased dnai9g the YEA. t ,hr.na hfoh,
maining assets being those availablef for the
general uses OF the Treasury. .inCrease sed from
$50. 155.l 9.oO to S23a.3ls 9. .s5s.oo.
According tn the revised estimates the
, total stock OF money at the close OF the
fiscal year was S2.39S .GOa 10. OF which
S79S. .6.IS.9i1 was in the Treasury AMI
fainis ami 81 sol .96S.i13 in circulation
The only important changes now going on
In the composition OF the currency IS IN
the stock OF gold. which Is affected by
Il. lttx.f
well as by imports and exports. and in thc
Treasury notes issued under the act OF
1890 which have been Cancelled and re-
tired since August. 1898. when redeemed
In silver dollars.
LOANS AND CURRENCY.
The lntercst-bcaring debt OF the tnited
stntes. exclusive OF the bonds issued IN aid
OF Pacific railroads. was increased Si12..
3ls.1VO during the twelve months endcd
November 4. 1898. There were Issned ana
sold hudcr the public notice OF November
f3. 1884 $5v.oOo.eO0 OF per cent bopdss