HILL-FOWLER BILL (H. R. 10289.) Profit on national-bank note circulation to banks with $100,000 capital. Table made at request of Mr. Walker, based upon details furnished by him (H. R. 10289). Jos. S. McCoy, Government Actuary. MAY 20, 1898. J. S. McCoy, Government Actuary. MCCLEARY BILL (H. R. 9725). Profit on national-bank note circulation to banks with $100,000 capital. 4 per cent..... 10 per cent Above please find computations made in accordance with your instructions. MARCH 25, 1898. Figures of banking funds, copied from the Comptroller's report for 1897, and estimates of probable increase. [Report of Comptroller of Currency, 1897, Vol. I, pp. 385, 397, 444, 559.] The items as to "reserves" being given for all the national banks in the United States, and using that of "cash reserve held" as a base for calculation of percentages, it is assumed that the ratio of difference for like items as to State banks not given in the official report bear proportionately the same relation to each other as for the national banks. Table showing loss of banking funds in nine States under existing conditions in 1897 as compared with 1860. TABLE A.-NINE STATES IN WHICH BANKING WAS FAIRLY WELL DEVELOPED IN 1860. Average loss in banking funds, per capita, in 1897 over 1860. 48,864, 200 15, 895, 400 $17.94+ TABLE B. Assuming that the use of banking funds in 1897, that is to say, capital, deposits, and currency, would be one-quarter more in volume than in 1860, the slaves being free, the following sums should be added for each State named: Assuming that the slaves being free to-day would add one-quarter to the use of banking funds, the amount of such funds that would be in use in the following nine States, providing that the freedom of issuing currency enjoyed by State banks in 1860 had continued until to-day, would probably be as follows: Total..... 15, 823, 000 283, 944, 330 86, 992, 431 370, 933, 761 |