Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1896-12-12
ANNUAL CURRENCY REPORT.
ComptrolIer Bckels Gives Facts Regarding
Banks, Circulation and Credits

COMPTROLLER Eckels Gives Facts Regarding
Banks, Circulation and Credits
WASHINGTON, Dec. 9.-The annual
report of James FL. Eckels. comptroller
of the currency, submitted to congress
Yesterday, contains information in de-
tail in regard to the organization, SUI
peryisiou and liquidation of national
banks for the year ended october 81,
1896 During the year, % new banks
were organized. with capital stock
aggregating So, 245, 00o The total
number of national banks organized
since June 80, 1868, the date of the
granting of the first certificate OF au-
thority, is 5,O51. making an average OF
153 for each year. OF this number B.
679 were in active operation on October
81, 1896, with an authorized capital
stotHS aggreeating $3.50. OLA, s95, repre-
seuted by 2SS, COZ shareholders The
total amount of circulating notes out
standing on October 81, 1896, was 1884,
553, sO7, an increase of $21, 099, 429-
! The comptroller states that the i'm
lportance of obtaining a proper classif-
cation of the money and currency held
by the banks throughout the country
led to the sending out of a circular adj
dressed to national and other banks
and trust companies, requesting them
to furnish correct classification of the
them on the 1st of July last The con-
clusion drawn from these returns is
that 81. per cent of the retail trade
of the country is transacted by means
of credit paper; that 95. per cent. of
the wholesale trade is SO carried on;
95.1 per cent of the business other
than mercantile, and 92.5 per cent OF
all business. According to these re-
turns the percentage of business done
by checks, all classes being included,
is 92.5.
The comptroller also deals with the
question of the duty of directors with
respect to the causes of failure of ma
tional banks and says:
The inevitable conclusion to be drawn from
a study of the causes resulting in these fail
ures is that in the great majority of instances
those directly responsible for the management
of the banks involved, both directors and ex-
ecutive officers, have been negligent IN theil
duties and wanting in insisting upon the en-
ployment OF methods Of ordinary safety AND
prudence.
The comptroller also says:
The monetary problems which confront con.
greSs, embarraSs the administrative officers O
the government. harass the business worlt
and bring a plague upon American politics
must ultimately find solution in re
quired banking improvements The tint
must when the banks shall be sucl
agencies of distribution of loanable capital a.
will make credit everywhere equally availa oil
to the extent to which those seeking it arr
justly entitled. So, too must point be fnall!
reached when banks shall issue all of tn
credit currency of the country and stand who'll!
responsible, instead of the government. for it
redemption in gold coin whenever and in what
ever quantities presented
Speaking of the legal tender treas
ury issues, the comptroller says the.
have always been a disturbing elemen
in business and their current redemp
ton con tinuing weakness and anxiet,
to the treasury