New-York tribune., 1900-12-05
26S

there % has th besS goTfS IN NaonsRP
erc1aton, from March Il to 6ctober 81 Of Sf9
5sI 03s This increase is probably more than
existing law. National banks are entitled to take
Which on oetobep % 81 wss Ts '9ge bere p ao
likelihood that this privilege will be availed of to
the purchase ana deposit OF United States bonds
acts through ~ advance In Prize Tnger increased de-
note issues. 1t may be here noted that, with the
advantage to bank IN taking out ctrcGiatIon is
one and fwye-hqndredths We Of per cent per annMm
advantages TO banks IN taking circulation under
the law based upon other bond issues. found
on 5 per cent bonds OF 1904. e loss of sub
on PsT cent bonds of 1907 profit substantially
three-tenths Of per cent.
fifteen -hundredths OF pei: cent.
rency system. under which the volume of circulat-
ing medium Is more responsive to the market price
trade and Industry IS not yet satisfactory u
The Controller q the Currency calls attention to
the urgent necessity for amending Section / OF the
act act OF July ~ lSS2 Under its provisions the
OF s7 81 ~ SaT nsnS bsen "h G9 1e al
these extended charters viii expire July IA, 1902,
The Controller is Of the opinion that the authority
for the further extension OF the corporate existence
that Section be so amended as to permit him. sub
ject to the restrictions naed IN the law further
extend these expiring charters. The matter Is one
OF considerable Importance both 10 the Govern
a1a expire tG W n saFe the nsh TO
organize as new institutions; but they win be
bers, while stockholders. directors and officers may
remain the 1t will therefore be seen that
the legislation recommended viii save much cir
euml3eution avoid great annoyance and give to
titles made Of value by long years Of honorable
and upright dealing.
LOANS AND CURRENCY.
The interest bearing debt, July l. 1900 included
unmatured United States bonds outstanding
amounting to H,023 $780, there having been re-
brought about by the purchase under announce
ment of the Secretary OF the Treasury on Noveu-
ber 15 1889, of cent bonds, funded loan 1907
of 1884, in the amount Of 81 800 300 There were also
redeemed. under the Secretary's call of May lS
1900. United States bonds Of the funded loan Of
SO 34 The total reduction in these three loans
up July l. 1902 so SIS 800, but the net reduc-
been issued during the fiscal year per cent bonds
loan of lSosl8, amounting TO S13,9 go 81 $50 in
cent bonds, funded loan of 1907, in conversion
OF refunding certihcates of which 81 4S0 issued
IN payment Of accrued interest said certificates
The call of May Is, l9o) was for the redemDtIOn
of the bonds OF the funded loan Of 1891 Continued
at per cent the amount being So. .S64 $50 and An
gust IS. 1890. being fixed as the date OF maturity
The character of the interest bearing debt out
that outstanding July / 1889 owing to the issue Of
2 per cent bonds payable, principal and Interest
in United states goid coin under authority Of the
classes Of United States bonds Outstanding bear
ing higher rates OF interest
The changes in the amounts OF the several kinds
Of money IN the United States outside the Trass
ury between November !. 1899 and Novemhar !
1900, shown in the table Following The astii l.
mated population Of the United States NoHs s5Il
J. 1899 76.6 OO0 and the per csDita annni,-
money outside the Treasury was SIS 60 The estj
lively. - 'eSPee-