New-York tribune., 1901-12-02

respectively; Spain, s142 13; Norway slz4 'o aiii
Russia, S1oo 81. In other country Goes the ave.
age deposit exceed 500
The greatest average deposit per inllabitant Is
shown In Denmark, the amount being s'f =. i'
Switzerland the average is S65 0S GerfnanS' 90. - -
Norway s37 16 Australia. s36 so; Belgium soI 80 -
Tinted States s31 %; Austria Hungary 20 oo'
Sweden s25 80; France So IS; Great Brltaili' E -.
Relative to the banking power of the world tiie
Controller uses basis for MS esliihate'
figures for 1890 given in the 1888 edltlol oi inc
NJ G. Mulhars Dictionary OF Statis'ics' WIN ~ 10
l,re states the amount approximatlhe Oh
ooo Ooo The banking power of the United hiiie
dom which amounted in 1890 to t31o'ooo'ooo' ~
increased to FL 1e9. 100000. as shown oy repoi -
the incorporated and private banks on Oh '
the close of the year ended June so. lSol anu 'i
the postoffce and trustee savings banks Vi ',,e "
Kingdom at the close of the year l9oo Ihls M, ~
Gates an increase during that period Oh t-oo'Vo'
or 81 per cent. 1t was assumed, IN caicu''t's
banking power of Continental Europe ana c'ne
foreen countries that the same proporuon VI 40
c-easa occurred therein in the United hlnsooih'
The banking power of the United states has 80
augmented since 1890 by f1r249,oon.uto ali i''e
of 121 ner cent. Aggregating the banking Po"'i -
tho Tinted Kingdom and the United states wiz,
the estimated power Of Continental huIop
other countries an increase since 1890 Is SHOWN "
81 ao6 600 Oo0 GO per cent in o'hef VIZ WI - On
worlds banking power increased iFoiii i''h'''0
In 1890 to 70. 123. 100000 In l9ol
The Controller recommends the repeal Oh 'Ie 80
ona nrovso of Section u of the act of March Ia s'
which limits the issue OF fve-dollar natohai in
notes this connection he calls M aye the g
gate issues by the banks of ivedoliar notes
Wb;ch is the object Of that clause in the act me ne
operation of the proviso heweSsrb bv their ioca
ton cannot use ts 1SapaEe & 7s o weh the aggregate
Of Sve-doiiar notes outstanding October 81 NV; @
bore to the total of national bank @ II
per cent on March 10. 1900, the day oeIore '"e
passage oI re Recommendations the Controller
those OF his predecessors eactnTs exces-
sfve loans. and the advsabty of changng m ,ere tne
method of compensatlng national Ir oaiIa salary
from the present fee system to a regular s'i''
DEFFCTs OF sIJB-TREAsURY SYSTEM
In commenting the present system OF SUI
Treasures the Controller calls attention 10 the
disadvantages and arrangements It's ope'a'i'"'
cause. and says:
There could be better Illustration OF TIN TINS resn ea
has been needlessly lock up ana 'ake out time ne
9ben II was badly needed for moving and
transactng the regular business ,s ot oF @ honds by
the Secretary of the Treasury only partially and
temporarily the difficulty and repairs me me
system after the business of the government and
the country has long eug1Twn nitv u he gwen relief
from its operation in taking money our % el ~ the
Treasurv is given authority that he can ar
range have more OF the money coleeieu @ 10y a6 rg
kent there until needed. it be done under such
ROO restrictions ana SUPERVISOR ea9 AZ
sure the government against loss ana give feiei
from the present system
Referring TO the criticism which has oeen mace
of the act of March L. 1900, TO the effect that l.
does properly safeguard the gold stanoaru, pu'
leaves it possible for the Secretary OF the Ireas
ury to practically undo the effect of the act by de-
partmental action and regulation without lui'her
legislation the Controller says:
If the act can be made stronger by arnendments
and the gold standard of value rendered mus Sa
cur from future uncertainty IL
done without any delay while the question ms Is Eide sti,
by the great number of new questions being urged
as subjects for action by Congress March J.. 1900
the total amount of circulation which all the ma
from l94ai ass TO s$5a Is an of slO5
sos 23O over Al per cent ,-o o,sos so-,e-
10 the elasticity of the national Al bank Gur n
It. howexeT leaves tb Iack Ieh Of 70 Rheh is the
greatest fault of our national bank Issues and
consideration various measures for the modllica-
ton Of the national bank eurrency Lnere sns s
financiers and many plans are urged for adopdocl.
Somewhere between the views OF the & s6denI nos
with vehemence unsafe and unsound In every
Most of the more enlightened countries of the
world and those which have the most satisfactory
currency We should be able incorporate some
features of this kind with our national bank cur
safety but add to its efficiency and usefulness In
rency can be used to supply emergency circu-
lation for which there is a pressing need. not
now supplied by our national banks, and as our
people become more used to 1t and see Its good
points the use may be extended. Progress in this
direction should be and will have to be slow.
The absolute security of national bank notes.
and the fact that no one ever looks at a note to
see by what bank it is issued. has popuarized
them with people. and there will always be
strong sentiment in favor of letting well enough
alone when It comes to changing our bank notes;
This question is, however, becoming pressing
and immediate. In the near future 1t will have
to be determined by Congress what shall be done
with the national banks and their circulating
notes. and what changes are TO De mdde IN tne
various kinds of paper currency now In circulation