The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-12-11
ECKELS REPORT MADE
Inre-esrlEg Information Co7oer1-
ing National Banks
co@Esreti~r % The Carr~arx Tells 81
the Grewth "a tAe ssste@- and
Arzses "a LezErh an PAYER 81
Rank Nste CIrcliatioa-


to-T G. ne lex.s-ltlc- wAlce corstlf1tts
tat Trtss-l zzucrL ALEk AZ A-e .-Vltss
re nttt--41- 60 ccrrvess - hrrt----.t-ts
e TIE law rEr1- rrtr1e5 e. tt-Etr geGcT-s
risAcas ssscl11A-ly rsFs1ti--g tAtr--
O. Ire s1sses; C aArk reis clrc1lnt,,-
tAs ec-T.rc-lt- SAYS 1T . ur.sctas-f "a;
- a. tet crErrtx U-tct f1Ve oesz vrtEE Z
- ne rAfsc-n- sl-rt-cy Erg frcra Is ssese-
t3c1 = Re grtst-- ti-1t me feature s1e tst2
10 e-s.icls-a Pa whltA was lEtf-1t- s1C-l1
cc1s,ttlte re 0r-rc.TEl 1trtrs tc es cc--
ttr-e1, Ans rs-G4-Ul cc-lF.H r1tlvs.g l--
r-H-Ee. -E-t1y. the rc-e-.Es-.zE fC-r-
tt11 es,tFsr tlstlacattr- tee-t vas p
The -rst lrs.Arcs trr rtstr.c-rs ire lssl-
i-c e. -csex Eral~st tkt hc-1s - TIE CIV
t-uE1frL Gf-scsltf1 w--. re trtls-rer C
re Lritet states {. g qtr cf-- GO re
pEr vase tAtrte1. ll-g s--cs ceased IN
rs-eg 1-r.-E tss F&si ytGrs - w.se--
G. c-Ecsrs Ire tX-s.-s 4Ew - tsEs ne
11-kS as t1-1-El thfm ere crUrlErl-
rss u u--ct lea1te2 -sei Rave ne as
1-ise-al ce1t1t g A. asses lc1-at-t c1r.+
IA eAs ett- --Et4 ltfg.tf a.. lbs ire
An ST.. remains - .tsc1s nu-cr- ref-t N1t
crlg stc-l- t1e t4E& aci o. Gne11t4 i-
st.s r4rt.---@r. tlt c1Egr ss st11t se-
Ftt4s.g cc-s.-tr sucr a cr1r Sc .r tre --sle
c. O.. aA1k G1,t sssues Es 49, trEe4s ths
hA-Ks 80 tht cr-atrg ~ Ecrs E1ta aatslE
meet ne etrN--s g trace a-- sc-r r-trct
81 a. stetcrs 60 tee cccrt-v TIE kus,-
rtss 60 ttrAtrr Uke every s-ter f-r1 e
investment Eust De- Ua1t attractive &c
cHTt&l - i - T.acet ErC- a fcou-g
tl1srt-t frcE ether Grtertatl-gs. tr1tEr-
rAsstt ttrcrEt unnecessary rts-r-eI.e-s
as ttpr-Ts- 60 proper sources e r1utt.
Ire rtsl.t cG1-t. D. CtEtrv Sc han thAs
trNesiAt-s capital VII stek ctttf means -
e-rr-cyEre-.. ans O. sGc1 ar extent 1tTrlre
iae rt1g2s &C tee he-fets 80 IRE 4st1cy
zItst requisite t1 cc---ltrtl al GctiYlty.
= srfrl IN every r#rerstF r.r~,r
cal government txctTs IRE lEltt- safes
- te ere sclt rucv-Ece q hanks rs ISSUE
tAe paper whlch c.rcll21ts az c-rrt1cy.
Llt oelEf i1 q tlnS rotf cErrtrcT as atlrg
httssr Gr5 safer t,sa d government paper
currency TrcE4llt- u1q -tstl1rt- Cd t1.s
ccu1try urtA ur1tr tht agTzrsEt t1l-
gt1cats % &c war, ths ElFtr1 meat l1lt--
t1ck 60 issue FaStr c1rrt-cg- aVel der
s--1 e.r1l--l sl---tts tac promise VAS a.
w4ys gives. however. th&t ti slcl.l De- rt-
C-t@ a. tet earliest Fra-t.-at.s moment
AID TIE admission freely 1a41s tr4t .g was
It.-etr a wise utlEErC C1g safe sut-n 90
currency. ECtwttl llt lcu-pe l.s.1u SO E1t
soFsE---e1s lcte issues on tEe ere hand
AE- tee lrEtccssarg Etstr-cticus Imposed
- laM lF-r IAe 1t1E-. tcEttfer N-tl thk
Increasing prise % tc-ls Required 10 rs
1sE1s-tC4 as seClrlgy. tht Ectt-fssllr,-
44-ct.ll % tGt BANKS has lte1 permitted
% ccccLe merely az lLci1t-t o. Ire cc--
alei @. t1t 1a.-11a4 14Gkl-g associations
q the county.
1t has been seriously sugres-s1 ---re
taan once ttat Tie oAak note Issues be done
away utth 4Gl az Eapcr te issued ty tss
government Instead 4he DANGER cf sueh
a course j lug to Re oVtEtstlnEscG. 41e
tNVtF-teee si every SeFtEl-.eut has tseE
that EaNcTurr rental currency paper Il
source ~ weakness ara larkrr In 49,
CE4c4 States, where thtre has bttu ne
nearest approach So success wlth me vc.-
rme % the federal paper comparatively
iE.tt- ln amount. iht Crelit Cf TIE rcs-
truue1t has been manc than once ma in
Jeopardy tArouEh q 4r3 TIE business ia
tertsts q the country subjected IS unnt,e.
essay loss and ccrfus.Cu-
The Argument Lhat use government het-
ter than the hanks. ear provide Tor TIE re-
compton 81 paper note Issues VIII act
stAra the test @ careful analysis The
government has no means r1r caring Tor
It's demand liabilities except through bor-
rcWirE ard through tac lUEy.rE cf taxes
Upon the other hand, the banks have assets
which can Pc promptly converted Into cash
% meet their outstanding notes when rrs-
scented LheiT a14lty to command SOLD has
always been beyond that 90 the govern
meat. Tor ll each financial fNfEtrcY which
has confronted the government the hanks
have furnished 20 % the amounts uects-
sarN 90 maintain US sciVcncy. Tt .s Inn
possible 20 believe chat with a system -
bank note issues based in part upon Sc
curitics and ln part upon hank assets the
country cannot be provided with q sound
safe and elastic hank note issue. always
eommensurate with and responsive &c the
demands a. trade =
The total number % national banks or
garIre1 since The system was put into cp-
GRAFTON in 1854 is shown DO have been ftE
on October 81 las, there were On aciIve or
Grafton GeI1. having an authorized capital
% sEo 80. IS The total outstanding cir-
cuiatior q the hanks then in operation vas
50 is- -. ~ which SIS 81. t51 VAS secured
BY bonds Or the United States and RE bal-
auce BY lawful mercy deposited with the
treasurer 81 the United States The total
circulation outstanding o. an national
banks on October u last was S-l1 fli aoE ~ 4
which amount N.5ssS was secured ~
bonds held FOR account % insolvent ard 1
iiquidating hanks and So JOS rs By lawful I
money deposited Tor their account ard by I
active banks reducing circulation The net 4
decrease In the amount 90 circulation Sc Z
cured by bends during the year was gig- 4
sst.S1l and the grcss decrease In the total 4
circulation was sANals.sA During the year 4
"a hanks were organized with an aErrt. I
gate capital stock 90 81. ssoo 600 DURING TIE 4
year "a banks went into voluntary llqufda- 4
ton There was paid 20 creditors 90 IL. T
solvent banks during the year tl<s.,A IN 4
dividends
The magnitude % this unsqualet rec.
ord. the report SAYS. wla more farci- 4
bly, illustrated 10 considered in The Light 81 4
what has been accompii shed heretofore in i
it0rs or lusolyeut Institutions. Ia ISsl there Il
y A. paid ln dividends g1 81. ft6 Cos ihsl aa.- I
i4Atif, ln lNl, fes. .-, iu lN t..ttf.9 1853. and u
ln iN1. N4lts.isl, making a total o. DIVE
bends paid within the Use years ffuW INS4 \
10 lNs ot a-l.stV.ala. ~ S9i4 Per cent of an 4
the dividends That have ewes been paid % n
creditors Of lnsulNtnt national banks "A
IRON ls1 % lssl there has been PAID In \
dividends &asAl.l-a and it tnt year tui+ n
bracel iu this report 81, lts.iNl, OF ID l-s PER
cent % an the dividends that nave - en- n
paid during the period Of "a years 81 th6
existence N the system since Octubtr 81. 4
the end ofthe report lear, 4. additional div-
.dends have been Ordered, amounting "a tAe Il
aggreEate 20 about So
The report contains Ihe latest complied h
statistics relative % the worlds monetary 4
systems and the stock % sold. silver ana 4
paper currency. A yer3 lntcrtEtlng fta- i
lure OF this statement u the per capita I
amount OF each Kind % money a. the 4
named. The per capita aNeragfs \
Ia the principal countries % the world are L
a. follows United States. S4A1N. Unigea \
h iuUuum. tZNta, frauCc. 4att, Afrmauy
ilss5. Austria Hungary. N.sA and Russia.
iSsa
Burned 90 "a crisp.
Nickerson, KAN. Dec. 6.-Mhilc tenn
porarily insane, Mrs. NJ. +. Ross. IN
IL. - I