Year: 1867

WASHINGTON, January 19.-The Presidents
evening organ says of the Administration tnat,
'if necessary, its strong and i1on hand Will De
invoked to stay the course and prevent the con-
summa alton of radical treason. The great oatn
of the President to protect aud defend the Con-
stltution will not be forgotten, and the people
who sustain him with their 500 600 majority OF
the voting population, North aud South, Will
not forget him. Events have already brought
the Government to the very verge of another
revolution. II the radical majority IN Congress
puTsues its reasonable course much longer, the
Government, in order to sustain ITSELF viii have
to arm Its supporters Az the call OF the Presi-
dent, all his friends, North and South, and the
army and the navy, will respond. In such
contest the issue cannot be doubtful. Congress
men may be valiant fighters on the floor OF
Congress- but when they come to lead their CO.
horts in the field, it will be another thing. The
real armies and great soldiers of the Republic
will be found fighting under the flag. We ad-
wise the opposition OF the determined and hXed
fact that Andrew johnson will serve out his
constitutional term of office"


The National Banks.


The Comptroller of the Currency has received
about fifteen hundred quarterly reports OF Ma
tional Banks for the quarter ending the 9TH
instant An examination OF them shows that
the banks generally are in remarkably good
condition. Almost every dollar of available
funds is loaned upon the best OF paper, aud
this though the deposits are extremely large,
About halt of the banks have declared semi
annual dividends of Eve, six, eight, ten, and
some as high as fifteen per cent, besides
carving from ten to twenty per cent. of net
profit 10 their surplus fund. In regard to the
lawful money reserve of the national banks, the
amount now held is sufficient, with very few
exceptions, allowing them the privilege hereto
fore extended of holding compound interest
notes as q reserve for all purposes, circulation,
as well as deposits; but, serious objec-
tions arising to the holding of compound lnte-
rest notes tor circulation, besides the absolute
prohibition contained in the law authorizing
the issue OF such notes, the Comptroller has called
the attention of the banks to the necessity OF keep
ing lega-.enders on hand to protect their circula-
tion, and is requiring strict compliance with
the law in this respect Another noticeable tact
in connection with this subject is that the banks
are holding largely increased amount of specie
as compared with that reported before. This is
no doubt owing to the fact that as the temptation
of high premiums on gold is not so great as for
meTly the coin interest on bonds is retained
instead of being. Immediately sold. The
which was assumed by the national banks
on their conversion from the State system,
is now reduced to q very small amount, and a
LARGE portion OF that now outstanding is pro-
baby lost, or in some manner destroyed, so that
il should not be considered as outstanding Cir
culation. This is is a fact worthy of the con-
siGeTation of bankers and business men gene
rally, especially when 1t is stated that not more
than year ago the outstanding State crcula-
ton which was subject to redemption by the
national banks exceeded $30,000,0O0.