The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-12-02

were charged off losses and premiums
aggregating $34, 1854, So and expenses
of $75,375,O40.92, leaving net earnings of
1914, "a, from which dividends were
paid at an average rate of 81 per cent,
the amount being 50,21s, 115-21- Com
bining capital and surplus, the rate of
dividends paid thereon was 81 per cent.
During the last session of congress
the following bill to provide for the ex-
tension of the charters of national
banks passed the house of representa-
tives,. but failed to receive considers
ton in the senate:
BE it enacted by the senate and
mouse or representatives of the United
States of America in congress assem-
bled, That the comptroller of the cur
rency is hereby authorized, in the man
ner provided by, and under the condi-
lions and limitations of, the act of July
twelfth, eighteen hundred and eighty
two, to extend for further period of
twenty years the charter of any ma
tional banking association extended
under said act which shall desire to
continue it's existence after the expira-
ton of it's charter.
Passed the house of representatives
February 4, 1901
1T is urgently recommended" says
the report, that this bill, or similar
measure, be enacted into law. AS here
tofore stated, inasmuch as the first
charter will expire in July, 1902, prompt
action on the part of congress is neces-
sary, in order that this association and
Others whose corporate existence will
terminate early in the coming year may
avoid the expense and inconvenience
incident to enforced liquidation and re-
Organization as new associations, and
be afforded ample time to take the pre-
Hminary steps necessary to an extern
sion before expiration of their char
terS.''
Comparing the volume of business of
the savings banks of the United States
with those of the European countries,
the report shows that in the matter of
deposits the United States as for years
past. stands at the head with 81, 31O,-
900. The country with the next larg-
many, with $1,000. 100000. Austria
Hungary follows, with $1,201, 240 900.
The savings deposits in the banks of
France and che United Kingdom are
SS5422O, 600 and 1929 ,o2o 900 respectively.
The only other countries with savings
deposits of 5000 900, 900 or over are
Russia, Belgium and Switzerland.
The average amount to the credit of
depositors in savings banks is greatest
in the United States, namely, $406.23.
The average in Canada is $340.24; in
Austria Hungary, $22L SO; Denmark
s16S-S0; in Switzerland and Australia,
$153.S4 and S153.30 respectively; Servia
and Greece. $150.64 and $15032 respec-
lively; Spain, $14213; Norway, $124.96,
and Russia, $100S4. In no other country
does the average deposit exceed 500.
habitant is shown in Denmark, the
amount being S77SS. In Switzerland the
average is $65.a6; Germany, $3764; Nor
way, $37.16; Austria, $36. 80; Belgium,
S31.76; United States, S31.22; Austria
Hungary, $27.0S; Sweden. $25-36; France,
$22.1S; Great Britain, s20.62.
In commenting on the present sys-
tenn of subtreasuries the comptroller
calls attention to the disadvantages
and arrangements its operations cause
in our financial matters. and says:
There could be no better illustration
of this than its opera tons in the last
few months. The result has been to
needlessly lock up and take out of cir
culation vast sums of money just at a
time when it was badly needed for NOV
ing crops and tTansacting the regular
business of the country. The relief
afforded by the purchase of bonds by
the secretary of the treasury only par
TALLY and temporarily meets the diff
Guilty and repairs the damage done. The
mistake of maintaining this system
after the business of the government
and the country has long outgrown it
should be corrected and the business
community be given relief from it's OPP
GRAFTON in taking money out of circu-
lation when most needed If the secre-
tary of the treasury is given authority
so that he can arrange to have more of |
the money collected by the government |
deposited with the national banks and |
kept there until needed, it can be done |
under such regulations, restrictions and |
supervision to insure the government |
against loss and give relief from the |
system