« 이전계속 »
We have delayed to notice the progress of "Free Banking" in Illinois for some time under an expectation that we should obtain the report of the commissioners made some two months ago, but failing to get that report, we publish the following notice of it from the Alton Telegraph:
Illinois Banks—Commissioners' Report.—We have just received the annual report of the Bank Commissioners, in regard to the affairs and business of the Banking Associations of the State, made in compliance with the requirements of the General Banking Law. The report is an interesting and valuable document; and if its statements are correct, it shows that the Banking Institutions of Illinois are generally not only in a prosperous and flourishing condition, but that they are conducted with much financial ability, and compare favorably with those of any State in the Union.
Since the adoption of the General Banking Law, thirty-one Banks or Banking Associations have been established, with an aggregate capital stock of $17,360,000, on which have been deposited public stocks to the value of $'2,650,987.72. Two of this number, however—the Bank of Lucas & Simonds, Springfield, and the City Bank, Quincy—have closed their operations, and are now being wound up; several are just commencing business, and their
operations are yet rather limited. The following table will show the aggregate resources and liabilities of the twenty-nine banks now in operation:
Amount of public stocks at the rate received $2,475,741 62
Amount paid for stocks over the received value.... 196,162 IS
Real estate........... 31,158 22
Notes of other banks on hand 358,339 45
Amount of debts owing to banks 1,368,203 68
Specie on hand 565,152 04
Loans and discounts 316,841 76
Deposited with other banks 876,612 58
Expense account 24,874 97
Checks, drafts and cash items 63,892 41
Total resources $6,305,978 86
Capital stock paid in $2,513,790 17
Amount of debts owing by banks.. 294,034 50
Amount due depositors 1,286,102 25
Profit and loss account 71,787 00
Total liabilities $6,449,239 92
The Commissioners make a number of suggestions, in regard to the practical operation of the law, bank taxation, and other defects which need to be corrected. It seems that under the present revenue law, some of the bank corporations manage to escape their proper taxation, by shielding their active capital, and consequently pay tax only upon their bonds deposited with the Treasurer. Of the thirty-one banks in operation, only nine, among which is the Alton Bank, make return of their loans, discounts, bills purchased, &c., upon which taxes are assessed in addition to their stock deposits. The remaining twenty-two make no such return, and consequently pay taxes upon their deposits only. The Commissioners, in view of this inequality, recommend that the taxes be transferred from loans, discounts, &c., and be placed upon the circulation.
The Commissioners state that the General Banking Law discriminates unfavorably as regards Illinois stocks, and recommend that these stocks be considered more nearly in their relation to their market value, as a deposit, than the law at present permits.
The circulating notes of our own banks, as yet, sustain but a very limited relation to our entire currency circulation, perhaps not more than three-tenths. This disproportion will, however, gradually diminish, as our domestic issues find their way into the State, from the distant points where they were originally put into circulation. Of the remote or foreign paper which makes up the residue of our paper circulation, a portion rests upon a stock security basis for its redemption, while a large proportion rests upon a foundation always liable to suspicion.
The Commissioners think that the Banks have generally observed, what is usually denominated the Small Bill Law, in their business transactions. The effect of this law, in those localities where it has been observed, has, without doubt, tended to force small foreign notes from circulation, but its observance has not been so general throughout the State as was expected, or at least hoped for. Some of the banks, with a view to meet the demand occasioned by the withdrawal of foreign small bills, have increased their aggregate issue of small notes, and withdrawn those of a larger denomination. Still, there is much embarrassment attending the want of small change, owing to the scarcity of specie.
COLLEGES, ACADEMIES, SCHOOLS,
STATES AND TERRITORIES.
District of ColumbiaVirginia..