The Bridgeport evening farmer., 1917-02-06
U. s. FINANCES
 FIRM AS HUMAN POWER COULD BE
]" Practically Whole World Is In Debt to Us" Reads
 Annual Report.

port. that the United States at tht
 present time seems to be "intrenchee
 financially almost as firmly as it is pos
 sible for any human government tt be- , stPractically the whole world is ir { debt to us," the report said, .1and is [ steadily increasing its obligations. Ou1 < financial condition in relation to oth- i ef peoples and the world at large be- i comes stronger from week to week
 and from month to month. As the
 figures show sc conclusvely our wealth iS piling up with wonderful rapidity
 but <ro do our proper work in the I world and to protect and enlarge our l own interests we may before long need ! every tollai of these resources, gigan- ], tic and inexhaustible as they now seem to be.
 s..In reviewing our banking and is- cal situation we seem now to be in trenched financially almost as firmly as it is possible for any human gov- ernment to be. We are we'll pre- pared for preparedness and ready and able to provide for whatever increas- es of army and navy ~congress may think to be necessary.s
 The report reviews in detail the ac- tivities and growth of national banks throughout the country during the year and makes recommendations for additional legislation to safeguard de- positors and stockholders.
 The Comptroller's recommendations propose the enactment of laws to:
 Amend the criminal code, making it a felony for individuals, firms or cor A.< fo lea Gy1o io1 a. n1ents to banks for the purpose of se- curing loans.
 Burglary of national bank a crime punishable, by federal law.
 Limit the funds invested by bank in its own building to the amount of it's capital stock. n
 Authorize the Treasurer to sell bonds securing circulation thirty days after a bank goes into liquidation.&
 Such laws, the report states, should be- enacted in s'the interest of the shareholders or depositors of the banks and of the general public
 Since the inauguration of the fede- ral reserve system. the report states, charters have been issued to 264 new national banks with aggregate capital of $16. 6.109. 1000 afd 189 national banks increased their Capital $27,117, TOO. During the same period, to November IS, last, 143 banks went into Hquida- tfDn and thirty-four banks reduced their capital. Tn addition 2T nation al banks were placed in receiverships.
 Gross earnings of national banks for the past fiscal year. the report states, were $59O,542,O51 and net earn ings $157,543,547, an increase in the latter item of $50. 100000 during the year. Dividends paid were $114,724,- 594, an increase of approximately $1,-. DOC, ,0O0.
 The practice of charging exorbitant7 rates has decreased to marked ex- tent, the report states, the number fo banks charging more than ten per. cent on the average, being reduced in Georgia from 23 to '; in Alabama from 21 to 6: in Texas from 317 to 122; in North Dakota from 90 to 31; in South Dakota from 25 to 10; in Ne braska from 1 & to 6; in Oklahoma from 300 to, 193. Figures or other states are not given, but the total re- duction throughout the country du- ring the year is placed at nearly fifty per cent, or from ,022 to 558.
 '"The trouble has not been fully rec tified," the report says. and banks here and there continue to disregard the law in this respect and to exact rates which cannot be justified on any ground These persistent offenders are being dealt with and itfis hoped that in most cases they may correct their irregular and unlawful practices before it becomes necessary for this office to take steps for the annulment of their charters"
 The. policy of enforcing the law with respect to charging usurious rates re- suited, the report adds, in ten banks with a capital of $765,00o deciding that the business did not offer suffi- cient inducement for them to remain in it longer.
 Compilation of clearing house fg- ures for the entire country, embrac- ing 173 clearing houses, places the ag- the huge total of $241, ,407, ,541 ,00O, an increase during the year of $78,233,- 4O4,0O0. There were decreases in sev- en associations aggregating $42,947,- 600. chief of which the decrease in the association, at Albany. N. Y., of $31,- 355,OOO New York leads in, increas- oS,. the LOlal increase LOT lIle year Dc- ing $56,338, ,001 ,OO0. Other notable increases were Philadelphia, $4,050,- 121, ,OOO; Chicago, $3.725,285,00 Bos- ton, $2,S98.779.0 .000 and St. Louis. $1,- 064,177,00O.
 The popular belief that the United States is the richest country in the world measured by per capita mon- ey in the bank, is dispelled by a com parison with other countries. A com pflatfon shows that the per capita de- posfts in the United States was $50.42 while in New Zealand it was $91. Al | and in Australia recahed $1O6.97.
 Salaries paid bank presidents, the report states. averaged $1,008.41 a l year for institutions with capital un- der $50,0O0. Bank presidents of in- ststutions having a capital of $5,000,- 0U0 or more, however, received an- nual salaries averaging $44,421. The average salary of all officers and em- ployees of national banks, however, was $1.s31.SS, or $110.99 per em- ployee.
 Ranks having from s1.ooo.ooo to ,