The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-19
OUR BANKING HISTORY
INCREASED FROM TWENTY-FIVE TO
9,457 BANKS IN PAST CENTURY.
Individual Deposits Are Now Placed
at s5,193,z55,sO7, or About
$75 Per Capita.
Special to the Indianapolis Journal.

WASHINGTON, Sept. 1S.-The banking,
currency, coinage and production of precious
metals in the United States during the past
century are presented in great detail by
series of tables just issued by the Treas
ury Bureau of Statistics as a part of the
July summary of commerce and finance.
These tables covering more than one hun
dred pages of this unusually large volume
present a very complete picture of the
growth of the banking system and of the
currency both metallic and paper, and to
this is added for comparative purposes a
brief statement of the banking and cur
rency conditions and gold and silver produce
ton in other parts of the world. An exam
ination of these figures covering the bank
ing and currency history of the country
brings to the surface some interesting
facts. The earliest figures are those of IVA
which give the specie at that date at $4,-
100000. The same statement puts the specie
in 1884 at $10,OO0,0OO. the number of banks
three, with capital of $2,10OO0O, and a
circulation of $2,0O0,O0Ol BY 1877 the number
of banks had increased to twenty-five the
capital to $l9.200.OOo, the bank circulation to
$1O0O0,OOO, and the specie to $14,OO0O0O.
The story of the century 1797-1S97 is told
very fully in the elaborate series of tables
both as to banks and their currency, and
gold and silver production and coinage. The
number of banks in 1897 was Is: in 1897, 9.457
The capital in 1897 was $40 200, 000 in 1897
81 ,027 493 ,653. The bank circulation in 1897 was
$40 eco, 600; in 1897, $19S, 800 SO The deposits
in the First Bank of the United States in
1909, the earliest date at which reports of
bank deposits are obtainable, amounted to
O,O0C; the individual deposits reported by
the 9,457 banks in 1897 amounted to 5,193,-
755,SO7 of which 1899. OBS were classed as
savings deposits.
The increase in the number of state banks
prior to the war is shown to have been
very rapid, the number n 1880 being 329; in
1910, TAI; in 1885, 500; in 1860 1862 The de-
crease from 1860 was equally rapid. the num-
Der of state banks in 1863 being 1,O23; in 1864.
349 and in 1868, BAT. while the number of
national banks organized in 1853, 1864 and
1865 was 1901. State banks again increased
in numbers after 1868. the number in 1872
being $50; in 1885. $40; in 1888, .403; in 1890,
2,l0l: in 1894 1856, and in 1897 the number,
including private banks, is reported at 1873.
Prior to 1850 the deposits in state banks
amounted to but little more than half the
capital stock, while since 1877 deposits have
at all times been more than double the
amount of capital stock and in 1897 were
$lZ3. $40, 1875, against capital stock of $685.
677,0SS.
The statements regarding the amount of
money IL circulation in the United States at
various periods are equally interesting The
amount in circulation in 1900 is given at
&99 per capita; in 1910, $3.50; in 1920. 1896;
in 1890 $685. in 1910, slO.91; in 1850 s1202: in
1880, $19.41 in 1890, $22.S2. and in 1898, $24.74
The statement regarding gold production
and coinage in the United States and in the
world shows that~the mines of the United
States produced more gold in the year 1897
than in any preceding year except those of
the great gold developments of California
1S52-5S-54. The gold production of the United
States III 1897 is given at So, 1863, 0O0 while
that of 1852 was $600c0,OO0. that of 1853 $685.
100000, and that of 1854, $4,000 600. Colorado
is shown to have taken in 1897 first place
in rank of gold-producing States. her pro-
duction in that year being $40. 1O4, 200, against
$1461S, 800 by California; while prior to that
time California had constantly stood at the
head of the column of gold-producng
States.
The coinage of gold by the United States
mints in 1897 was $64, 634 S65, which is nearly
30 per cent. greater than the average an
nual coinage since 1870.
The statements covering the gold produce
ton of the world are also especially inter-
esting. They show by stated periods the
amount sl of gold produced in the world since
the discovery of America. the total value of
the gold produced from 1892 to 1898 (estimat-
ing 1897 at $240 100000 being 50 O23 $40 600 of
which amount Sc 065. O97. COO has been pro-
duced since 1850 the product of the last half
century thus being double that of the pre-
ceding $50 years.