River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1902-12-04
NATIONAL BANKS.
Interesting Statistics of the System
Gathered from Report of Comp
trOIIer of the Currency.


port of William B. Ridgely comp.
troller of the currency has been pre-
pared for transmission to congress.
The report starts with a table giving
a detailed statement of the resources
and liza bilities of all the national banks
OF the United States, as shown by the
five reports of condition made in re-
spouse to the call of the comptroller.
From this table it appears that on Sep
TENDER Is, 1902, the date of the last
call, 4,601 associations reported, with
aggregate resources of Sc 113. 92S, 912. so.
The loans and discounts amounted tc
S3,2OS, 127, 480.69, or more than so per
cent. of the total resources of the
banks. The items of surplus and undl-
vided profits amounted, respectively,
to $326, 393,953.66 and $3.50, 216, 512.03.
The individual. deposits reached the
highest point in the existence of the
national banking system, $3,2O9,273,-
S93.93. There was due to approved re-
serve agents, other national banks.
state banks and bankers, trust COM
panies and savings banks, the sum OF
81 200. 341 1880
Regarding the growth of banking in
the United States, the report states
that in 1892 returns were received
from 9,33S national and state banks
and private banks and bankers, with
capital and deposits aggregating ST.
OH ,O73,O4S and $4,679, 114,316, re-
spectively. In July, 1902, reports of
condition were received from 1915 ma
tional banks, and on approximate
dates statements relating also to 1859
state and private banks and bankers.
Adding to these the number of banks
making returns only of capital and sur
plus for taxation, the deposits of the
latter being estimated, it is shown
that there are in active operation in
the country 1916 banks and bankers,
with capital and deposits amounting,
respectively, to $1,340, 160,416 and So
O7,281,9O4 From 1868 to 1902 the
banks have paid to the government, in
tax on circulation, over $90,000,000; on
capital and deposits, from 1868 to
1888, nearly $4,000, 900; on capital and
surplus, under the war revenue act of
1898, about 81 900 600.
The report says that on February 25.
1908, the national banking system will
have been in existence 40 years, and
then proceeds at some length to give
history of the system during these
years.
During the year ended October 81,
1902, 470 banks were chartered, with
an aggregate capital of $31, 300,0 900, of
which number 302, with capital of 81
COS 900, were of the smaller class, and
1853, with capital of $685. ,0O0 had in
dividual capital of $4,000 and over,
There was an average of 1h banks or
ganized on every secular day of the
year.
There are in operation in the terri
tory of Hawaii two national banking
associations-one located at Honolulu
and the other at Wailuku, on the
Island of Maui. The aggregate capital
of these banks is 1925 ZOO, their depOs
its $646,936, and aggregate resources,
81 .489, 319.
The First national bank of Porto
Rico, at San Juan, was chartered on
November 10, with capital Of 100000,
and a board Of directors elected, who
are citizens of the United States, and
the requisite proportion residents
also of the island.
The treasurer of the Philippine
archipelago has transmitted to this
office copies of reports of condition of
banks and banking institutions doing
business therein. The last statements
submitted were for the close of the
year ended June 30, 1902, and relate to
the condition of II banks, including
branches. The reported capital was
81 ,4OO, 900, the deposits SIS, 122,866, and
the assets $29, 914.4S9.
The aggregate banking power Of the
world is estimated at about $27, 045,
100000 an increase since 1890 of SILL
O6O 100000, or 69.19 per cent.
Comptroller Ridgely favors a plan
for giving elasticity to the currency
system by allowing national banks to
issue notes additional to those secured
by government bonds, the new issue to
be guaranteed by reserve fund to be
raised by small tax.