The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-01-25
LETTER FROM ECKELS
II Is Addressed to All the Gov.
ernors of States.
AND 1T CONCERNS STATE BANKS.

He Asks the Governors to Suggest Legisla-
tion Covering Laws for the Institutions
In Some States the B:nks Make No Re-
port or Statement to Public Officials-A
Fact which Calls for "a Prompt Remedy
Text of the Letter.
Washington, Jan. 25.-Mr. Eckels. the
comptroller of the currency has sent
the following letters to the governors OF
all states relative to banks:
II have the honor to direct your at
tention to the act of congress passed
in 1873, incorporated in the revised stat
utes of the United States as section 1873.
authorizing the comptroller of the cur
rency to incorporate in his annual re-
port to congress, in addition to specific
| information relative to national banks,
a statement exhibiting under appro-
pirate heads the resources and liabili-
ties and conditions of the banks, bank
ing companies and savings banks or
| ganized under the laws of the several
states and territories, such information
to be obtained by the comptroller from
the reports made by such banks, bank
ing companies and savings banks, TO
the legislatures or officers of the diff
erent states and territories, and where
such reports cannot be obtained the de-
ficiency to be supplied from such other
authentic sources as may be available
Contained as Possible Information.
"Since that date and in compliance
with the provisions of law reports is
sued from this bureau have contained
all possible information obtainable in
| Of Il Nox,1r nd
banking institutions. AS you are doubt
less aware, there is no other officer of
the United States charged by law with
the duty of collecting and publishing
banking statistics, and it is therefore
necessary that the comptroller of the
currency shall have the required in
formation and in order that the most
satisfactory results may be obtained
that the data shall be compiled, APP
proximately at least, from reports OF
the same date.
"At present there are a number OF
states which make no provision for the
submission of reports from banks and
bankers to any public officer of the
state others which provide merely fol
an annual report of the resources ant
liabilities of incorporated banking in
, stitutions, and still others which pro
, vide for the compilation and publica
, tion of quite complete returns, but to-
late in the year for use by this burea'
in the current report; consequently II
such instances the information is no
available until about a year after it
, receipt
, Makes a Suggestion.
'In order that uniformity in time an
8 manner of reporting may be secured,
have the honor to suggest that the at
tention Of the legislature of your stat
be called to the subject, and that Ii
requested to enact such legislation
will result in the submission TO des
J ignated public official of the state c
reports of condition by all banks doin
e business in your state at the same date
s on which national banks are require
: to make their reports to the comptrolle
/. of the currency. Provision should ais
f be made for the prompt tabulation an
V publication of these returns. L inclos
q for YOUR information forms for report
n of condition and of dividends and earn
: ings furnished to national banks
e this bureau, and suggest that simila
Il forms be adopted and used by stat
,e banks and bankers. A copy Of my las
= annual report to congress-, containin
v a compilation of the national bank az
v and a digest of national bank decision
n together with other information OF II
v terest regarding foreign and domest
systems Of banking, has been addresse
to you.
IT trust that at the earliest practi'
,. able date you will give this matter car
er full consideration and make such sp
s. cific recommendations to your legisl;
8. ture on the subject as will result in Il
l. enactment of laws whereby the conn
er troller Of the currency may fully con
& ply with the act of congress hereinb
he fore quoted"