The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-15

Silver dollars shall not be coined.
Silver pieces under one dollar shan De
coined for government account.
Minor coins shall be coined on govern,
ment account as now, and so issued ana
exchanged
An issue and redemption division OF tho
treasury shall be created. which shau
have charge Of all matters suggested by
its name the Fiscal Department. collect
ing revenues and discussing same peins
entirely suparate.
Now. as 10 the banking system.
National bank notes. received from the
Comptroller OF the Currency. can be us
sued TO the total amount OF the paid-up
and unimpaired capital OF the bank, less
real estate Investments. OF Is. however,
contemplated TO Offset the investment IN
real estate. with any surplus "a bank may
have, and | so present IT, These notes
must be uniform I'm design and quality
$40. the lowest denomination. Ihey con-
stitute a first lien upon all the assets or
the bank. including the personal laoll-
~ of the stockholders.
Up 20 an amount equal 20 p per cent.
OF the capital OF the bank. the notes must
be represented by the market Yalue or
United States bonds deposited with the
treasurer The remainder OF the notes
can be ISSUED without this special security
and after five years the bond deposits
can be withdrawn at the rate OF one-utth
per annum. thus I'm ten years the Dohu
The first so per cent of the notes IS
free from tax or interest charge the next
~ per cent. pay per cent per annun'
and the last % per cent. pay 10 per cent
per annum. the average being TO per cent
The notes may be retired by depostlhB
any lawful money with the United states
treasurer thus stopping the tax or inter-
When notes are issued by the comptrol-
Ter the bank receiving them shall deposit
per cent. OF their amount IN god as a
common guaranty fund. from Wnlch any
defaulting notes shall he PAID, When ihg
defaulting bank shall be proceeded
against for the amount or Same and or
am Of their outstanding notes. The guar
anty fund will be kept at per cent or an
outstanding notes by extra assessments
when necessary. This tuhd may ne III
vested I'm United States bonds Banks re-
firing their notes have their unimpaifed
portion Of tho guaranty fund returned TO
them.
Banks must hold one-fourth OF their
lawful money reserve on deposits IN com
i'm their own vaults This reserve mas
nothing 20 do with the guaranty or re
demptiOn funds. No bank shah repoIt i''
own notes or consider them as CASH
Ranks with $4,000 capital can be char-
tered in places having AUD OF Tess Peo-
Banks can establish branches under ar
rangemont with the ComptroHer nut the
notes Will bo redeemed only az the parent
bank.
is per cent. on capital, surplus ana uh-
divided profits. 60,
tinue as at present.
vear IN come into the new plan. If two
thirds Of the stockholders petition Nl
writing. and those who do not embrace
IL I'm this time VIII De dlasolNeu anu tH'N
All state banks can come in at the re-
quest in writing of two-thrds OF the
shareholders.
Now. under the plan. the government
demand obligations 10 be retired ultimate
~ is as follows: 1910. .., ~
Treasury notes .................S 800 3l3.2S0 On
United States notes ..........., 5ibh,l 'vlo ~
National bank notes ........... l'A'3-V'n" w
s65l9ll.ec6 90
70 meet which there Is already arranged
for a reserve Of - per cent on thc H. >.
and treasury notes. .$ll5,"Hof
Silver bullion, mar .
kct value .....--... nl'"Npip .-, 900 IA ~,
leaving 10 be cared for by the
new notes. which the pres
emf national banks can fur
nish as now 10 be- shown. 4'Oip'''p wv
The Comptroller's statement of October
3 1897. gives the status or the natlondl
banks for the whole country as follows
Capital ........ $55l4@'uo r
surplus ''''''''' @-,-..-,~-~ a662iO.Os5 So
Deposits. b'nksS l5l299 lo2 30
i''O'' ''''''7 5000 ---------- ISIS. 59O.G27 Il
s2S4S3O.72 81
Per contra. ..- ... ,.
Loans and discounts ......... ZOl5.Nl1,eN ~
stocks and bonds ............ 4a' ~ ~ ~
Real estate ssssssfsss lN'tf...- ~
cosb ................ 3S9. si5. $50 II
c,,rr,o1 Forward ...........s2. 7509 iO.3s6 IS
Brought forward ......,......S-, i'N 'fl."' -
Gov. account
'1 notes ..........s 227 $3.50 %
IT'S IT, s deposits. 100000 %
Bonds on hand llis'to ODD
Premium ON L.
s. bonds ..... l'-nl,-D 90
g7z235.e2O o.
National bank
notes on hand 2OIiJ.i-o v
: D. q. redemp-
ton fund ..... GY ON
Due T.. $. Treas. llM,ti5 -
3o9Ol3.5 6S 81
Less bank notes. Sl9s9-160 .l
State notes 600. h,in W
HoF' "'pO'''-'. 2f512g 2a2 Il