f - -js5s "sop- r-'y ,?"e"!
THE COURIER.
I
MONEY AND BANKS
Since the question of what to do with
the greenbacks, and if they are retired,
with what to replace them, is being
agitated again in congress, and all over
the country for that matter some fig
ures and extracts relating to the cur
rency question from the last report of
the comptroller of the currency may be
of interest.
The administration, a large majority
of the bankers of the country, and a
good many members of both political
parties are strongly in favor of retiring
the 346 million of greenbacks at present
outstanding and replacing them with
national bank circulation.
Under present conditions the national
banks are taking out the minimum
amount of circulation allowed by law
and republican and democratic secre
taries of the treasury andcomptrollers of
the currency have alike urged upon con
gress to remove some of the restrictions
now placed upon national bank circula
tion, and thus induce the banks to in
crease their note issue, by making it a
source of profit to them. If the changes
in the law recommended by Comptroller
Eckels in his last report were made, it is
conceded that the national banks at
present in operation in this country
would increase their circulation nearly
450 million dollars, or nearly enough to
take the place of the greenbacks and
also the treasury notes which amount to
150 million more. Enough new banks
would undoubtedly be organized to
greatly increase this amount. Of course,
in order to induce the banks to issue
this additional circulation there must
be a larger profit in the operation for the
bankB than at present, otherwise there
would be no object in their going to the
trouble of an increase. But-the con
sideration with the public is not so
much the amount of profit made by pri
vate corporations as the absolute security
of the notes 'issued to circulate as
money. A few figures fro ti the comp
troller's report will satisfy any intelli
gent person of the perfect safety of na
tional bank currency under the proposed
conditions. First take the question of
profits of the banks, as it is urged by
many that the earnings are already so
large that there should be no ndditional
profit on circulation. The report shows
that the average net earnings of the na
tional bands in 1895 was 5.22 per cent, of
their capital and surplus. In New York
state the average net earnings for the
year on capital and surplus were 4.94
per cent., in Pennsylvania 6.
Illinois 6.70
Minnesota 5.21
Kansas 1.93
Nebraska 3.20
Colorado 3.68
Chicago 5.57
Minneapolis .63
St. Joseph 2.54
Omaha 2.13
and in a few cities and states, inciuding
Lincoln, the losses were more than the
earnings. This certainly ''is not an ex
orbitant showing of profits. At the
present prices of bonds the profits to the
banks on circulation would be about
per cent, although it would figure out
a trifle more on the last issue. Of course
the profits of circulation on bonds
bought a few years ego at higher prices
would be still less. This small profit is
not enough to pay for the time and
trouble envolved.
Since the organization of the national
banking system 303 banks, or an average
of about 9 a year have gone into receiv
ers hands. Of this number 40 per cent,
have failed wnce 1893. The total lia
bilities of these- banks, was in round
number' 1110,000,000; "and of this
amount nearly 8100,000,000 has been col
lected and paid to depositors, leaving
the loss to depositors, on all failed banks
during a period of 33 years, of abou t
310,000,000 or H of 1 per cent, on the
total of two billion dollars of deposits
held by the national banks today. It
would amount to only about 1-6 of a mill
per annum on the total deposits of the
banks during the 33 years. This is a
smaller percentage oi loss than can be
shown by any other business in the
country and only goes to show the ab
solute safety so far as security and re
demption are concerned, of the national
bank notes, covered as they sre by gov
ernment bunds in addition to the assets
of the banks, The capital of the 3,712
national banks is 5657,000,000, circula
tion at present outstanding 213,000,000.
Now if they were allowed to take out
circulation to an amount equal to their
capital stock and up to the par value of
the government bonds held to secure it,
aB they certainly would do if there were
a reasonable profit in the operation, the
circulation would be increased at once
about $450,000,000. This would till the
place of the greenbacks and treasury
notes, and the question of keeping up
the treasury gold reserve would be set
tled. The banks would then have to
get gold to keep up their reserve asb"st
they could thus transfering the duty
of supplying gold for commercial pur
poses from the governmant to the busi
ness men of the country, where it be
longs. The above figures do not take
into consideration the state and private
banks, nearly 6,000 in number with capi
tal of 8425,000,000. Many of tnem would
undoubtedly change over to the na
tional system, so that instead of there
being a contraction made by retiring
the legal tenders, the great difficulty
wouid be to limit the issue of national
bank notes so as not to inflate the cur
rency beyond its present limit (which is
undoubtedly enough for the legitimate
demands of business) and yet at the
6ame time make the profits euflicient to
induce an increase up to this limit.
The success of the democratic party at
national financiering is graphically
shown by the comptroller in a table on
the national debt. In 1869 the interest
bearing debt of the United States was
82,166,900,000. It decreased steadily un
til in 1892, tho beginning of the present
administration it amounted to only
8650,000,000. Since then it has in
creased to nearly one billion dollars
while the greenback or non-interest
bearing debt remains the same as in
92. One objection frequently urged to
the national bank note issue is that
soon the government will pay off its
bonds and then there will be no basis
or circulation. But give us a democratic
administration atout once every sixteen
years and there will be no lack of bonds
upon which to base our paper money.
what is milk
The most perfect food in the world is milk. Nature
has provided that the youngest and most tender child shall
have this food. In milk there is a generous supply of oil, or
fat. lliis exists in the form of minute globules, or tiny
drops. They are so small that it takes hours for them to
rise to the surface, as cream. We say, "milk is an emul
sion," because the oil is in this finely divided condition.
rectl35 Smulstcn
of Cod-liver Oil with the hypophosphites, has the cod-liver
oil in these fine globules, thus making it an emulsion.. Boys
and girls, as well as delicate invalids, can take cod-liver oil
when prepared in this manner. In fact, it is well adapted to
young children. The hypophosphites give strength to
the nervous system and needed material to growing bone.
Learn from nature : take cod-liver oil only as an emulsion.
50 eta. and ?t a bottl.
SCOTT & BOWNE, Chemists, New York.
csc3xccccccccccccccccc:cccccccccccc3iCc:ccccc:
CAPITAL.
053 M
BAT
OOiMPAXY ft
;
10 X Street
UVUCrtJ M. UU UIl 1U3T m m m f.
Choice Sirloin Stealc cat lOo &
Very Good Stealc cat Cto
Brolllns; beef cm low txm SB l-
Baoon So -nex pound
'rarift rinvr - a. -!t-.-b3 Txnionia -w&--r-rm'v tav
Give u ca trlfeal
I
)
Lincoln gteam e Woirk
ROY DENNEY, Proprietor.
suits, overcoats, cloaks and dresses cleaned and colored without taking apart.
shawls, ribbons, laces, feathers, mufflers, curtains, kid gloves, etc., cleaned and
dyed.
1103 O greet Express charges paid one way Telephone 465
POE, the photograper ffi J I
Is doing the bes t and finest work in the city and his
prices are the most reasonable. Call at the studio
and examine the work and be convinced. Remember the
place
132 . lStlx St.
GOING TO
CHICAGO.
ST. PAUL.
BLACK HILLS.
CENTRAL WYOMING,
PORTLAND,
LOS ANGELES.
SAN FRANCISCO?
BEST II
BEST SlRVIO:!
When wanting a cleaa. eksj shara
or an artistic hair-cut, try
u.
Westerfield
You'll never realize what "real good
bread'' is until you have made it of
Shogo" Hour.
THE POPULAR TONSORIAL
ARTIST.
who has an elegant barber ahoy
with oak chairs, etc., called "Tha
Annex" at 117 North Thirteontk
gtreet, south of Lansing theatr.
Every purchaser of
81 worth of goods
will receive a cou
pon worth 10 cts,
to apply on future
purchase. 5c cou
pon with 50c
1 Riggs Pharmacy
12 & O.
. 1
W MAS ALSO VERT MEAT BATM
Sale of Collateral Security.
Notice is hereby given that the
undersigned will on the 14th day of
March, 1896, at 1 o'clock p. m.,of said day
sell for cash at public sale, to the high
est bidder, at the banking room of the
undersigued, being situated at the cor
ner of O and Eleventh streets in the
city of Lincoln, Lancaster county, Ne
braska, one certificate of. stock of the
Columbia National bank of Lincoln.
Nebraska, being more particularly de
scribed as follows: Certificate No. 91,
lor 20 shares of $100 each of the Capital
stock of the said Columbia National
bank of Lincoln.
American Exchange National bank.
Pledgee.
March 14
First publication Feb 22
SHERIFF'S SALE.
NOTICE IS HEREBY GIVEN, that
by virtue of an order of sale issued by
the clerk of the district court of the
third judicial district of Nebraska,
within and for Lancaster county, in
an action wherein The BadgerLumbcr
company et al.,are plaintiffs, and Errick
V. Eriekson et a!., defendant. I will, at 2
o'clock p. m., or the 24th day of March
A. D. 1896, at the east . door of the court
house, in the city of Lincoln, Lancas
ter county, Nebraska, offer for sale at
public auction the following described
real estate, to-wit:
The northwest quarter of southeast
quarter, and the south half of the north
west quarter and the north half of the
southwest quarter of section twenty
one (21), in township eleven (11), range
six (6), east of the sixth p. m., in Lan
caster county, Nebraska.
Given under mv hand this 20th dav
of February A. D. 1806.
John Trompen,
Sheriff.
March 21
For High Polish or Domestic Work
TRY
Jfie gest Launfln
2249 0 Street. Phone 579.
H. H. Towxsed P. M. Plomondo
MERICM EXCHANGE UIIOMI BANK
LINCOLN, NEB.
I M. RAYMOND,
President.
S.H.BURNHAM.
Cashier.
A. J. SAWYER
Vice President.
D.G.WIXG,
Assistant Cashier.
CAPITAL, $250,000 SURPLUS $25,000
Directors I. M.Raymond, S. H. Buraham.
O.Q.Dawes. A. J. -iiwyar, L?wts Gregory
NZSuell, GMLambertson, D G Wing, S W
Barahagr,
I
U
It
mv
