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. 49, 830, 400 3,559, 400 15, 191, 760 283, 944, 330 $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: TABLE D.-ESTIMATED DEFICIENCY OF BANKING FUNDS IN THE FOLLOWING STATES IN 1897 AS COMPARED WITH 1860. [Capital and deposits of State banks-see Comp. Currency, 1897, vol 1, p. 578.] Estimated net loss of banking funds in the nine States $155, 842, 178 60, 926, 357 $94, 915, 821 155, 842, 178 250, 757, 999 90, 132, 663 59, 250, 199 30, 882, 464 219, 875, 535 Fifteen States in which banking was undeveloped in 1860, and in which the deficiency in banking funds per capita was probably as large in 1897 as in the nine States above noted. Estimated deficiency in banking funds in these fifteen Total deficiency in 24 States $211, 530, 540 283, 944, 330 495, 474, 870 Number and value of slaves in 1860 (average value estimated at $500 per head) in the nine States following. Total. 2,718, 3841, 359, 192, 0002, 171, 501, 4101, 298, 711, 923 1 Census 1860, p. 294, Mortality and Miscellaneous Statistics. Personal property per capita in 1860, deducting value of slaves. $85.78 Personal property per capita in 1890, slaves free Population in 1860, 9,469,634. Population in 1890, 15,199,370. 85. 44 Total capital, surplus, and undivided profits in places under 10,000 population $253, 284, 959 Circulation 70, 427, 647 Population in places under 10,000 Deduct people served by banks in cities of 10,000 popu lation or more 41, 840, 776 10, 390, 737 31, 450, 039 National banking funds per capita, to serve people living in places of less than 10,000 population, $23.38. Total capital surplus and undivided profits in cities of 10,000 population or more. Circulation. Deposits Total national banking funds Capital actually paid in in cities of 10,000 population or more Population in cities of 10,000 and over $712, 955, 136 128, 493, 023 1, 441, 872, 264 2,283, 320, 423 451, 147, 525 One-half as many again served by banks in above cities. 20, 781, 474 10, 390, 737 Probable population served by such banks Banking funds per capita for cities of 10,000 inhabitants or over, $73.25. 31, 172, 211 CLEARING HOUSE OF WORCESTER, MASS. CONSTITUTION. The banks in the city of Worcester, having associated on March 5, 1861, for the purpose of effecting a more perfect and satisfactory settlement of the daily balances between them, deeming it advisable to adopt a more permanent and formal organization, hereby agree upon the following ARTICLES OF ASSOCIATION. SECTION 1. The name of the association shall be the Worcester Clearing House. SEC. 2. The objects of the association are the effecting, at one place and one time, of the daily exchanges between the several associated banks, and the payment, at the same time and place, of the balances resulting from such exchanges; the promotion of a general uniformity |