New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-09-03
BANK REGULATIONS RIGID
Good Results Expected from Or
der of Controller of Currency.
INSURES SAFE MANAGEMENT
Treasury Finances, Postal Saw
ings and Monetary Commits
sion Discussed in Circular.

The monthly circular of the National
..ity Bank for September, issued yester-
hay is devoted TO a discussion OF bank
examinations Treasury finances, postal
savings banks and the Monetary Commits
sion.
As regards bank examinations the cir
cuar SAYS that the recent order OF the
Controller Of the Currency. requiring bank
examiners 10 send with their reports Of
examinations a certificate signed by them
10 the effect that the bank is absolutely
solvent. that the bylaws are satisfactory
and are followed. that the management IS
safe: that the books show its real condl-
ton and are so kept that the examiner
can make thorough and complete ex-
animation of the bank, is likely to be pro-
ductive Of beneficial results.
Speaking of the Treasury finances, the
circular says:
1t was fortunate in more ways than one
from the Treasury standpoint that the late
. issue of Panama bonds was not delayed
tainties Of tariff revision, revenues have
begun TO decline, which IN the case OF
customs receipts Is rather pronounced.
THE two months Of the current year al
ready passed show a falling of IN duties
collected Of $j,0JI0O0, as compared with
July and August year ago. Inc eN-
rate and to-day there IS deficiency OF
$4,000 CO., az against one of Sl3cW,WO at
This time last year. -
n is not to be expected that with lower
tariff rates in prospect as the result of
Congressional reductions next winter the
customs will make any better showing In
the near future. On the contrary, as Is
ALWAYS the case. exporters dealing in those
classes Of goods which are likely TO he
the subject of reductions III the event
Of tariff revision hold their orders as
1,.,, as. n L. in
OF the lower rates which seem likely 10 DE
established.
In another respect the Treasury was
fortunate as 10 the time when the Panama
bonds were issued The securities mar
kets were relatively high and money rates
generally easy when the bonds were is
sued As Il consequence the issue brought
p higher price than could have been OBJ
tanned at this time. Since the bonds came
securities in a decline, ana nave sold as
low as 1915 or more than a quarter of a
!. point less than the lowest price which the
received for the bonds
Recovery in the market, and this Is largely
vdue 10 the availability OF the new per
cent bonds as security Tor postal SAVINGS
deposits For the latter purpose available
A per cent issues. such as Philippine and
Porto Ricans. have wellnigh been eX-
hausted, and in many instances banks are
WELD nearly p per cent more than the
amount Of interest required 10 be paid
nv postal saVinES depositorleS 10 the gov
xrnment on their accounts
OF the postal savings banks the cir
r,llar says that the brief statements that
have been received show that the de
posits in them are large and rapidly lit
,reaslng both in total amount and in the
amount OF individual deposits. I'm regard
10 the Monetary Commission, the circular
says:
The chairman has announced that near
3ngs will be held during the month OF Octo-
Der in different parts Of the country as
well as i'm Washington. and II Is proDdpie
that the National Citizens League, recently
organized in Chicago, which Is 10 nclude
affIIisted organizations OF business men and
merchants in all parts or the country WIN
send REPRESENTATIVES to the commission =
hearings Ii is also expected that rep
resentatives Of labor organizations ana OF
agricultural associations will be heard.
The press and commercial organizations
al their meetings where the AIOrlch pan
has been discussed have mace very rev
criticisms except in regard 10 MINOR De
rails of the plan. Undoubtedly the COM
,rission will find "A way to allow state
hanks and trust companies 10 participate
fu the privileges of tie association under
certain restrictive standards as REGARDS the
publications Of reports. the SUBMISSION 20
mutual examination, the amount OF lhe
capital stock. and the proportion OF IeSer ve
10 be held against demand ndDlHties'e -.
the same time IL seems not unlikely IRON
The progress OF the discussion that tne
privileges Of the national banks VIII be
somewhat extended in order 10 aloW OF
their successful continuance alongside OF
state chartered institutions.