Bisbee daily review., 1906-12-08
COM PTROLLER R RECOMMENDS
 CHANGES
Wants National Banks to Be Empowered to Issue Addi- tioaaI Currency, Under Ger tain Conditions.

WASHINGTON. Dec 6.--The an nuai report of William B. Ridgley. comptrpller Of the currency, has been prepared for transmission to congress. The report begins with table giving a detailed statement of the resources and liabilities of all the national banks sf the United StaAes. as shown by the Ave reports of condition made in re sponse to the call of the comptroller.
 IL appears from these reports that there has been an increase in banks from November g, 1905, to September {. 1906. from 5,S33 to 6.1Sf. and that loans and discounts, representing over 50 per cent of the banks aggregate re sources, steadily increased from $4.' ale.Ts5. .4e7 9e on November g, 1905, to ss. seS. .9S3. .51611. on September 4, 1906. The aggregate r4ourcea werc sS,ols.0s1. .0s6 ca SsptsInber 1. Over three-fourths of the rescafces of the banks are in toans, bonls, securities etc. and lawful money. the loans amounting to s4..es.9S3.sle: United States bonds on deposit to eeoure cir culation, $524.o36, ,SS0: government bans, $s7 ,i71 .5s0, and held in benk s7.5SS, ,150; other bonds and securities S7ei. .s40,755; specie. $464 .437 .190; leg al-tender notes .$1s1, ,575.l20 The paid in capital stock Is shown to be $S35, s66 6.796. surplus. $490,245.134; other undivided profits. s1S0. .569.s57; circu lating notes outstanding. $517.964, ,5l1: individual deposits, $4.199.9 .93S.310; United States deposits and deposits O. United States disbursing officers, $loI; '; s31.S1s.
 The comptroller again most respect fully and earnestly calls the attention of congress to the necessity of a change in the national currency and recommends, therefore. that the laws be amended so as to allow of the fol lowing changes;
 All national banks which have been in operation for not less than two years and which have an unimpaired surplus Of not less han 20 per cent oi thelr capital stock to be permitted issue not to ev-red 50 per cent of tis snount of th r bond-covered Bc.ss in notes unccvered by bond deposits
 To protect these notes the bank to carry the sa~e reserves as against deposits, in gc' or it's equivalent. Ir reserve. banks his would be 25 per cent and in a. others IS per cent oi the outstanding notes.
 l0eSe notes tC DS IuttuST ptOlcCtcu by g guarantee fund of per cent, to be deposited by the issuing bank with the treasurer of the United States be fore any are issued
 Out of this guarantee fund all such sold-reserve notes to be redeemed on demand
 The guarantee furd to Do kept good by graduated tax on the So.d-reserve notes. beginning at a rate of not over i-s per cent per annum.
 Every bank issuing gold-reserve notes to be required to provide means of redemption for such notes In every reserve and central reserve city. and also such other points as may be desig hated
 These points to be so numerous and convenient as to put every national bank within iwenty-four hours fof redemption center
 The provision limiting the retire ment of the present g boud-secured notes to $3.o0o 900 per month not to apply to guId-reserye notes. and this limit to be repealed or greatly extend ed. at the discretion of the secretary of the treasury. in its application to bond secured notes.