Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-11-17


SOURCES AND A GROWTH IN
DEPOSITS UNPARALLELED IN
THE FINANCIAL HISTORY OF
THE WORLD.
WASHINGTON, d. c., November is.
Charles G. Dawes, comptroller OF the
currency. has made public the results
of the investigation which he has made
into the number of loan and deposit ac-
counts, rates of interest and sources Of
the combined banks of the United
States in the years 1889, 1894 and 1899.
In collecting this data nearly 10000 re-
ports from banks have been examined
and compiled. The investigation into
the number OF loan and deposit accounts
and average loans and deposits Is the
first ever made covering the United
States either in reference to the ma
tional system or banks other than ma
tional. The results of this invesuga-
ton indicate magnitude of banking
resources, and rate of growth in num-
Der of deposit accounts which is UNI
paralleled in the financial history OF
the world.
The comptroller says that the results
for the combined banks are carefully
estimated upon the basis of ratios
found to exist in the reporting banks
and that they may be regarded as sub
stantially accurate. He is careful TO
call attention to the fact that the NUM-
Der of deposit accounts and loans given
in his figures must not be confused
with the number of depositors and bor-
rowers, since the same individual may
have loans and deposits in several
banks. each of which would make
separts report to the comptroller.
While, therefore, the actual number OF
borrowers and depositors is much less
than the number of loans and deposit
accounts, the growth in the latter IS
evidence of the general growth In the
number OF individual depositors and
borrowers.
Tho general deduction from the In
vestigation covering the last ten years
il given by the comptroller as follows:
First-That the number OF individual 90
posltors In the banks OF the United STATES
is constantly increasing as indieateu ~
the regular increase in the NUMBER o.
deposit accounts OF the combined banking
svsterns estimated as follows; July II
1889, 1903 banks. reporting s.aS,s1i July ~
1894, sos banks. reporting ssgS,4oe' June
80. 1899. g. 723 banks, reporting h,4Sz'o@s'
The estimated grand total for the year
1899 based upon banks reporting anu Nea
tistics as TO non-reporting banks oDtaAhea
from tax returns to the commissioner o.
internal revenue, shows 1S.l5S.si4 deposit
accounts in 1884 banks.
second-That there is demand from
borrowers for tho use of the greater por-
ton Of the deposits Of the banks and Winis
the number of individual borrowers ~ m
creasing the depositors greatly outnumoef
the borrowers and the increase In the mum
Der OF borrowers is much less than the IN
crease In the number OF depositors as m
dictated by the rate of Increase IN tae
number of loans estimated as fohows'
.Iuly u. 1850, 1893 banks reporting z,lss.94i'
July 49, 1884, 9.5os banks, reporting 1880
es4; June 30, 1899. 9.732 banks. reporting
3.9i1 .6e4. The estimated grand total Tor ttae
wear 1850, based upon banks reporting aho
statistics as to non-reporting banks oo-
tanned from tax returns to the commission
er of internal revenue, shows 6vo1,Dz "
l2,0si banks.
Third-That the growth OF the banking
system IS being characterized by grad
ually lessening rate Of interest charged on
loans
Fourth-That a gradually lessening rate
Of interest IS being paid upon deposits.
Fifth That, considering the large Client
age OF national and savings banks, tns
average deposit Of the individual or cofpe-
ration is slowly increasing.
sixth-That the average size OF the loans
all classes Of banks considered, has NOT
varied much in the hast decade.
seventh--Thst the growth in the agRre'
rate of individual deposits has been az foi-
lows: July H. 1888, 1913 banks repof Ting.
81. ZIG. 40. 4o2: July IL. 1924, s.sos banks r..
porting. 1853. 2i5302; June 90 1872 s'iss
banks reporting, 81. 7Bs, 5sl The eSti-
mated grand total for the year 1sss Daseh
upon banks reporting and statistics as 70
nors-repor1ing banks. obtained By tax re-
turns to the commissioner Of internal rev.
enue. Is 8, 5ls. s54. 53i in 1904 banks.
Eaghth-That the growth tn aggregaie
loans has been as follows: July IT, hs'
7.as banks reporting. s5.475.2Tz. 2ez: July y,
1894. s5qs banks reporting. HOS. 90. ~.
June 90 1859. 9.7s2 banks reporting. s5,isl.-
SOS $40. The estimated grand total for ths
year 1893, based upon banks reporting and
statistics as to non-reporting banks OBJ
tanned from the tax returns 70 The commits
sioner OF internal revenue. IL ts.7s1.4sI. $40,
In 1854 banks.