Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1896-12-12
WANTS BRANCH BANKS.
Comptroller EcISels Has a Plan to Extend
the National Banking System to Small
Towns and Villages.

the National Banking System to Small
Towns and Villages.
WASHINGTON, Dec. e.-Comptroller of the
Currency Eckels has considerable to say in his
annual report about financial stringency and
congestion, and he makes remedial suggestions
of interest Various amendments to the ma
tional bank act looking to giving relief are
proposed by the comptroller, among them the
following:
That in places having o population of less
than 1000 inhabitants national banks shall be
permitted under regulations to be made by the
comptroller of the currency and approved by
the secretary of the treasury, to be organized
with capital stock OF S25, 900, and with cor
responding reduction in the amount of bonds
required to be deposited with the treasurer of
the United States That national banks be per-
mitted under such regulations and restrictions
as shall be made by the comptroller of the cur
rency and approved by the secretary of the
treasury. to establish branch banks in towns
and villages where no national banks are eS-
tablished and where the population does not
exceed 1000 inhabitants such branch banks to
have the right to receive deposits, make loans
and discounts and buy and sell exchange, but
in no case to be permitted to issue circulating
notes other than of the parent bank.
In support of his recommendation for the
establishment OF these branch banks, the
comptroller says: THE construction placed
upon the national bank act by the supreme
court precludes the establishing and MAIN
tanning OF Dranch DankS unQer IT. ana, ne
continues: THE permitting of branch banks
would be the forming of agencies through
| which better trade distribution of currency
| could and would be made" and further in his
| report he remarks that THE time must come
| when the banks shall be such agencies of dis
| tribution of loanab.e capital as will make
| credit everywhere equally available to the
| extent to which those seeking it are justly
| entitled. So, too, must q point be finally
reached when banks shall issue all of the
| credit currency OF the country and stand
| wholly responsible, instead of the government.
| for its redemption in gold coin whenever and
| in whatever quantities presented"
| Further on in his report, the comptroller re-
| marks: "A policy in finance that is wrong in
| principle never becomes right in practice. The
| truth of the statement is fully illustrated by
| the course of the legal tender treasury issues
| of the United States They have been always
| q disturbing element in business and their cur
| rent redemption continuing weakness and
| anxiety to the treasury"
He recommends thatlegisation by congress.
based upon safe and prudent lines, having in
view the gradual payment and cancellation of
the credit currency now maintained by the
| government and the issuance hereafter of all
| of such currency through the banks, with full
responsibility therefor placed upon them,
| should be had Mt the very earliest practicable
| moment The results which would follow such
enactments would be beneficial, and neither
would monopoly be created nor favor shown
| thereby.n