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The Bankers magazine
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BANKER’S
TIIK
MAGAZINE
9
tatistical
llegister.
No expectation of forbearance or indulgence ebouid be encouraged. Favor and beuevolenee are not the attributea of good banking. Strict justice and the rigid perforiiiapce of conlracta are it> pn>per foundation.^
“ The Revenue of the State ia the State: in eftect, all depends upon it, whctljor for 9upi»«*rl or for reformation.”
JULY, 1876,-CONTENTS
.4rt* l«— Specie Paymentii and the Dotible Standard i
II.— The Usury Penalty and ita Results 4
in.— The Troubles of the Credit Fonder of France 7
IV. — Scotch and Rnalish Banking 12
V. -Rconomlo Science and its Leaders. I. Adam Smith 3U
VL— Mr. R C. Cowden on the Currency 2«
VII.-The Coinage Act of 1«3 * 23
VII L— Centennial Address of the Hon. Klbridge Gerry Spanlding at Philadelphia 87
IX.— The Inoresaing Hoarcity'of Gold and Silver.. 47
X.— A Century of Finance in the United States. Fifth Paper. The Revenue System 68
XL— The Institute of Bankers in Scotland 65
XII.— Banking and Financial Items of June 69
XIIL— Monthly List of New Bsn^s sqd Bapkers in the U. 8.- Their Location, Offleers and Capital 74
XrV.— Recent Changes of President and Cashier in the U.8 75
XV.— Dissolutions, TsUures and Changes among Banks and Bankers in the U.8 75
XVL— The National Ba^ks of the U. 8.— Abstract of Reports to the Comptroller, May. lt<76 76
XVII.— Notes on the Monht *Mabket 77
PUBUSHED MONTHLY, AT FIVE DOLLARS PER ANNL M,
By I. S. HOMANS, No. 2BI Broadway, NEW YORK.
8ab«cripUons are paygble in advance, postage being then only included.
Psjmeuts for sabecriptions, and their expiration, are shown by the date after jirinted address of each •nbicriber.
or* There are no Traveling Agents anthorlred to receive money on sccount of subscripiious to, or Bdverti^ents in, tbit work, or f4r the BANKER’S ALMANAC ANf) REGISTER.
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>'E>V YORK CITY BANKERS.
BROWN BROTHERS CO.,
59 WALL STREET, NEW YORK,
211 Chestnut Street, PHILADELPHIA, 66 State Street, BOSTON.
ALEXANDER BROWN & SONS,
Corner Baltimore and Calvert Streets, BALTIMORE.
nUAW HILLS OF EXCtlASOK OX GREAT HRtTAIX AXD IRELAND.
Iissiio C*oiiiiii4*i*<*iul Ti*iivelor»’
avaUabU in any part of the World,
Make Telegraphio Transfers of Money between this Oonntry and England,
And make advances upon
Cotton or other Approved Merchandise,
to the Consignment of Messrs. Brown, Shipley & Co., London or Licerpoot,
'To Ti*nvoloi*«. — Travelers’ Credits issued, either against Cash de- posite<l or satisfactory guarantee of repayment, in Dollars for use in the United States and adjacent countries, or in Pounds Sterling for use in any part of the World. Application for Credits may be addressed to either of the above houses direid. or through any first-cluss Bank or Banker.
BANKING HOUSE OF
KOUNTZE BROTHERS,
12 Wall Street, NEW YORK.
This house is ronduct<‘d with especial reference to the business of Banks, Bankers, CorjKjrations, Mercantile Firms, and Individuals.
Interest allowed on Gold and Currency DeposItSi
which may be cliecked against at sight. staff ments of Aeeoutits rendereilf anO laterest credited, nionthlff.
Oonsigninents of Ck)ld, Silver, and Lead Bullion, crude or refined,
receive especial attention.
COLLECTIONS MADE AT ALL POINTS.
Orders for the purehase or sale of Gold, Government Bonds, and all other Securities, promptly executes. State, County. Municipal, and Railroad Loans negotiated.
Bills of Exchange on England, Ireland, Scotland, and the C’ontinent. Letters of Credit acaUaUe in all parts of the World.
Oable Transfers of Money between New York and London and the Continental Cities.
I
THE*
BANKER'S MAGAZINE
h
AND
statistical §ljegiste.
“ jVa expectation 0/ forbearance or indulgence should be encouraged. Favor and benevo- lence are not the attributes 0/ good banking. Strict Justice and the rigid performance of cant resets are its proper foundation ”
The mtenue of the State is the State; in effect, all defends upon it, whether for support or for reformation."
** Rightfully considered, no principle is more conservative than that which identifies the laborer with the capitalist."
VOLUME THIRTY-FIRST,
OR,
VOLUME ELEVENTH OF THE THIRD SERIES.
P'rom July, 1876, to Junk, 1877, inclusive.
EDITED BY BENJAMIN HOMANS, jR.
NEW YORK<
Published Monthly by I. SMITH HOMANS, No. 251 Broadway.
1876-1877.
Digitized by v^ooQle
Q 1 o /
H53 I/. 3/
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GENERAL INDEX
TO TH«
THIRTY-FIRST VOLUME (OR ELEVENTH VOLUME, THIRD SERIES)
OF TMB
BANKER’S MAGAZINE AND STATISTICAL REGISTER
PKOM
JULY, 1876, TO JUNE, 1877, BOTH INCLUSIVE.
Compute copies 0/ the present vo/ume can be supplied by the publisher^ Frice^ in numbers^ $5 ; or^ substantially bounds $6.50. Separate numbers will be fur^ nisked to subscribers for the completion 0/ their volumes at fifty cents each.
Bound volumes will be given in exchange for the numbers ^ at the office^ 351 Broadway^ New York^ at the charge of $1.50 for binding.
The value of this work as a record of the Banking and Financial events of the year is greatly enhanced by halting it substantially bound for reference. It furnishes t£g only complete e^tome^ in a convenient and accessibU form^ of the financial history of the country for the past thirty-one years.
Abstract of Lord Cairns^ new Bankruptcy Bill, for England, 99*
A century of finance in the U. S., 57, lai. Act of 1836 for distributing U. S. Treasury surplus, 39.
m of 18^, levying a tax on State bank dm^tion, 44.
Act, the Coinage, of 1873, ^
• the first ti^ff, sign^ July 4, 1789, 58.
• the Sub-Treasury, 1846, 4a.
Acts of Congress, new, 149.
m relating to bills of exchange, R. I., 73. Acts, irregubu’, of a bank officer, 98a. Adam Smith, a sketch of his Ufe, aa
• • as to gold and silver, a.
m m centenary of, 185.
m • on paper money, 9^
• • Robert Lowe on, 537. .
Advance in the price of coal, on the, 90. Advantages of international money, 705. Aspects, three, of the silver question, 81. A^nt, authority of, 983.
A^nts, coUecting, responsibility of banks for, 719.
Agitation of q>eae resumption, new turn of, X.
Alabama banks, statistics of, 669.
• claim bonds, a^.
Alabama, banks andbankers of, 59a, 898.
• bank taxation in, 473, 476.
• failures in, 33^, ^7, 8x7.
Albany banks, statuses of, 669.
Albany, bank taxation in, 473, 474, 476.
• bank of, chartered, 65^
Allegheny, Pa., banks of, 647.
Allen, Gen. W. D., death of, 565. Alterations in checks, fraudulent, 98a.
• in stolen bonds, 733.
Amendment to the bankrupt law, T19. America, spede resumption in, 3^. American Asso. for Adv. of lienee, on
silver as legal tender, 35^
American Bankers’ Assertion ; — constitution and by-laws ofj 395. organisation of, 3^. the, 339, 394.
American bawng law, features of, 18.
« mining board, 404.
« « and stock exchange, 5^
• railway stocks in Elngland, 814.
• securities in Englano, 813, 814. Amount of National bank notes r^eemed
and destroyed, 50^
Annual interest on the National debt, bay.
• production of silver, 398.
« supply of gold, 399.
Arizona, banks and bankers of, 898.
« failures in, 837.
Arkansas banks, statistics of, 669. Arkansas, banks and bankers of, 155, 337, 646,898.
m bank taxation in, 473, 476.
• faUures in, 335, 337.
Arrests, 484.
Arrival of p>assengers at New York, 71.
£
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IV
banker’s magazine — 1876-7.
Artisans, French and English, wages of compared, 8^
Ashes, price of, in xa years, 640.
Asia and the precious metals, 55.
• new loans in, 274.
Assessment of National bank shares, 513.
» of shareholders in Ocean National Bank, 6^.
Assessments in New York, 933, 934. Assessors, New York, and bank taxes, 513, 599, 601.
Assets and depositors of Maine State banks, 565.
Assistant Secretary of the Treasury, the ; new, 850.
Atkinson, Edward, on capital, 270. Australia, revenues of, 456.
Austria, area of, 93.
• business depression in, 776.
• co-operation in, 282.
m deposit per capita, 768. a imports and exports of, 778.
» paper currency of, 778. m population of, 93. a railways of, 93.
• railway traffic of, 778. a real estate in, 777.
• the bank of, sp^e in, 172. Austro-Hungarian banks, statistics of, 777. Authority of an ag^nt, 98^
Average amount of National bank stock held by each shareholder, 505.
• capital of saving banks, 856.
• deposit per capita, 768.
a deposits of savings banks, 856. Averages of exports of gold, 1849-1857, 122.
Ba^relioty W., on Adam Smith, 190.
0 sketch of, 841.
Bailey, Jr., Dudlepr P. on interest-beanng legal tenders, 696. on resumption and funding, 871. on the business depression in Austria, 776. on the history of banking in Massachu- setts, 113, 209, ^i.
on the influence of paper money on specie- paying investments, 969.
Balances and exchanges, currency, 332. Balch, Thomas, death of, 902.
Baltimore banks, statistics of, 669. Baltimore, bank taxation in, 473, 474, 476 l^a debt of, 181.
liabilities of National banks in, 500. a National-bank notes redeemed and destroyed, 504,
a resources of National banks in, 501. Bank checks, unstamped, 403, 485. a circulation, taxation of, Mr. Norris on, 671.
a clerks of Missouri, association of, 138. Bank clerks’ Mutual Benefit Association : — of New York, 554. of Pittsburgh, 555.
Bank building, taxation of, as capital, 979.
• check, x%hts of holder of. 972.
• clerks’ provident funds, 4^
a commissioners, appointment of, 662. a a of Connecticyt, rep<^ of, 646. a convention at Philiuleliffiia, 249.
Bank deposits, repeal of taxes on, 670. a a should they bear interest ? 108.
a a taxation of. Geo. S. Coe on, 672.
a a * J. D. Hayes on, 670.
a a a Patterson on, 6^
a a total of, in the U. S., 505. a dividends, 238, 401, 406, 4^, 962.
• loans, increase of, from 1830 to 1837,
38.
a management, McCulloch on, 390.
• Nat., power of a, to make a note, 992.
• note circulation. National, 151, 152,
400, 986, 987.
a notes, National, redemption of, 729. a of England contracts ; country l^nks expand; from 1835 to 1844, 17. a a new directors of, 992.
a a powers of, 195.
a a provident society of, 461, 463.
• a rate of discount of, 998.
a a reserve of, 494.
a a savings department for its clerics, 461.
• a sixty-five mile circle of, 16. a officer, irr^^lar acts of a, 982.
• officers, women as, 803.
a a responsibility of, 564.
a a the murdered, 8m.
a of France, MoUien on the, 755. a a report of the, 285.
a a shares of the, income from, 775.
• a reserve of the, 921.
a a statistics of the, 921.
a a two per cent, at the, 920.
• of New York, chartered, 657.
a of North America, (Mass.) 1782, 113. Bank of th6 United States, the, 59 — Massachusetts, 1792, 1x5.
Bank reports, uniform, proposed law for,
a reserves of New York city, 572. a reserves, the economising of, xoo.
• robberies, 238, 3x2, 313, 2x7, 399, 404,
484 ,485, 565, 566, 646, 804, 805, 900, 99X.
a shaj^ National, taxation of, 477. a a taxation of, Compt. Hillnouse on, ^X3.
Bank stock. National, average amount to each shareholder, 505. transfer of, 800.
Bank Superintendent Ellis, charges against, 902.
a superintendent. New York, estab- lished, 664.
• surplus as a guarantee fund, 666.
a taxation and chambers of commerce,
a a and Congress, 417.
a taxation in Concuss, 045.
• taxation, 4x7, 5^, opx.
a taxation, burdens of, 72, 472.
• taxation, James Buell on, 676. a » E. C. Cowdin on. 839.
• a National, basis of, 4^
a taxes and the N. Y. assessors, 599. a to issue merchants’ notes, X7X4, XX3. Bank, fiscal, of U. S., bill for establishing, veto^ by President Tyler, 4X. a the firat, chartered in New York, 657.
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GENERAL INDEX.
V
Bank, the first in Massachusetts, 1686, 113.
• the third organised in the U. S., 658. Banker's (A) quauties. Sheriff Dickson on,
67.
Bankers and brokers, distinction under the Internal Revenue law, 227.
Bankers* Association, the American, 329, 394-
• convention in Philadelphia, 24^ 315.
• Mutual Benefit Association 01 Pitts-
burgh, 555.
Bankers, banks and savings banks, new, 74, 158, 241, 320. 409, 487, 568, 648, 732, 807, 9o8»^^
• institute of, in Scotland, 65, 134. Banking affairs in Canada, 4%.
• and finance, difference between, 108. m and financed items, 69, 153, 235, 3x4,
403» 483, 5631 644, 724» 802, 899, 988.
• capital, taxation of, i6a
• • total of, in the U S., 505.
• crisis in Portugal, 275.
^ • in California, 761.
m law, free, of New York, 41.
• m the free, of England, disas-
trous, 17.
Banking laws : — propped in Maine, 565.
English, modified in *33, *44, 14. new, of New York, 984. of England and Scotland differ, 14. of England, changes proposed, la. Banking system of N.Y., second period, 66a
• « • third period, 661,
m m m fouith period, 66^
m » m fifth period, ^3.
• • of Russia, hints from, 103.
• 0 our, statistics of, Ssj. m a the New York, 740.
Banking, history of, in Massachusetts, 113, ao7, 301.
• New York, history of, 657.
• progress of, Compt. Knox on, 657.
» the true functions of, 753, 829.
» “ Wild Cat,” in the West, 39.
Bank note circulation, National, 400. Bankruptcy Court, English, 98.
m discharge of J^y Cooke & Co., 237. Bankrupt Law, amendment to the, 319.
• m priority of right under the, 224,
• m the defects of the, 96. m m the National, 594.
Banks and bankers : — failures of, 71, 235, 237, 315, 316, 318, 328, 405, 647.
number of, in each State, 898.
Banks and the greenbacks, 173.
• chartered previous to 1812, 658.
• in California, the first, 761.
m of California, 767.
• of Canada, 73, 408, 486, 566, 726, 728,
73(6,
• of Massachusetts, when first taxed,
12a
» of New York, Boston and Philadel- phia, and the Government in 1861,
4».
• « number of, 6^
• of New York City, liabilities and re-
sources of, 665.
Banks of New York State, liabilities and re- sources of, 665.
• of San Francisco, Tfrj,
a of the State of New York, statistics of, 647.
Banks, are they entitled to purchase notes? 510.
• Austro-Hungarian, statistics of, 777. » Boston {see Boston).
• British, capital and liabilitia of, 19.
• collecting, liability of, 14a
• fiscal burdens of, memorial on the,
74a
m foreign and colonial, in London, 197.
• incorporated, not entitled to purchase
notes, 6^.
» increase of, from 1830 to 1837, 38.
0 London and Provincial, i8&>-’75, 15. Banks, National: — abstiact of reports, 76, 243. amount of taxes paid by, 472. and mortgage security, 55A and State, statistics of, 6^ bonds deposit^ at Washington, 50a. British savings, deposits of, 92^ circulation outstanding, 41^ 496, 574, 656. dividends of, 988. females, as stockholders in, 987.
^Id, esbtblished, 768. insolvent, 79^
in State of New York, curious statistics of, 647.
liabilities of, 500, 501. number of slmreholders in, 505. number of shares of, 505. new {see Official Bulletin), resources of, 500, 501. 8
surplus of, 6<^.
suspended, interest on claims against,
977.
taxation of, E. A. Rollins on, 674. usury by, 557, 787.
Banks, new, 74, 158, 241, 320, 409, 487, 568, 807, 906, 993.
• new, in Massachusetts, 1831-36, 216, Banks, New York City
dividends of, 736. menback movements in, 6^ Clearing-house, capital, deposits, and surplus, 582.
required to report to the State Comp- troller, 664.
statements of, 78, 165, 245, 246, 325, 413, 493» 573» 653, 735, 813, 910, 997. stocks of, 816.
Banks, Philadelphia {see Philadelphia). a rates of taxation of, in princi^ cities, 473-
a responsibility of, for collecting agents, 719.
a savings, and their deposits, 851, 922. a 0 and the rates of interest, 901.
0 0 British, deposits of, 923.
0 a {see Saving^ Banks).
0 0 statistics of, 851.
0 0 the New York, 922.
a Scotch, and their methods, 858. Banks, State and National amount of taxes paid by, 472. a generally prosperous, 45
Digitized by
vi
banker’s magazine — 1876-7,
Banks. State and National : — in New York City, quarterly statements 01,645.
taxation of, m.
Banks, suspendfed, dividends, 038, 40X, 408, 809.
• suspended, 40X, 406, 483, 485.
« Swedish, statistics of, 598.
« taxation of, by States, 51a.
0 a petitions against, 643.
• the, and our war finance, 400,
a the, and specie payments, 375, 9x7.
• the National, and usury, 74^ a the Swedish, 597.
a total number of, in the U. S., 505. a United States, quotations of (ms Money Market}.
Basis of National bank taxation, 480.
Battle of the Standards, the, 2x7.
Belgium, area of, 93. a defalcation in, 566. a new loans in, 274. a population of, ^
• railways of. 9^
a the bank of, specie in, 172.
Benton, CoL, and the public lands. 454. Bequests, &c., indication of national w^th,
Bil^foreign, damages on, 567. a of exchange and drafts, R. I., 73. a a and international law, 4^
a • in Rhode Island, 480.
• on India, 170.
a on London (see Money Market.) Bi*metalltc money, Cemus^i on, 345. a a Emile de Laveleye on, 60^ 70a a a MjtRau on, 70a.
a M. Roscher on, 702.
a a Jevons on, 700.
a a Prince-Smith on, 702.
a system, the ; is it .desirable ? 71X. a a the ; is it practicable ? 708. Bingham and the public lands, 4^
“ Black Friday ” in San Francisco, 764, Blanks in negotiable paper, filling, 98^ Blue book on banking, we July 22, *75, 13. Block, M. Maurice, on German nnanoe, 771. Bold robbery, 804.
BoUes, Albert S., on the revival of business,
Bomtay, average circulation of currency in, 5»o-
Bona fide purchasers, 992.
Bond mortgage, the, secures the detached coupons, 984.
Bonds, Alabama claim, 235.
• calls of, 314, 406, 644, 724, 801, 890, 988. a National bank, showing circulation
(Mr Monev Market.)
a a securing U. S. deposits (s»r Money Market.)
• stolen, alterations in, 722. a United Stat^ Ifr. Hatch on the, 654.
quotations of, 637.
Boston banks, deposits in, 208.
• • dividends of, 904.
a a specie in, 20K
a a sUtements of, 78, 165, 245, w, 4i3» 493. 573. 653, 735, 813, 9*0. 997.
a a statistics of, 669.
a a surplus of , 667, 904.
a dividends, 406. a water loan, 328. a bank taxation in, 473, 474, 476. a debt of, i8x.
a failures in, ;j38, m, 827. a liabilities orNabonal batiks in, ux. a National bank notes redeemed and destroyed, 504.
a resources of National banks in, 501. a savings bank failure in, 647.
Boutwell, G. S., when Secretary of Treas- ury, 126.
Brave resistance, another, 399.
Breadstuffs, prices of, twdve years, 640. a shipments of, 77.
Bristow, Hon. R. H., resigned June X7, 69.
a a whenSecietary of Treasury, 126. British and French investments, profit on, 773*
a banks, capital and liabilities of, 19. a canal shares, dividends on, 774. a India, demand for silver in, ^x. a a gold and silver movements in,
a a tra^e and finance of, 4^
a ocean steamship lines, dividends on, 77^
a real estate, dividends on, 774. a savings banks, deposits of, 923. Brokers carrying stocks, rights of, 154. Brookl^, debt of, 181.
Buell, James, on banking, 394.
a a on taxation of banks, 676. Buffalo, debt of, x8r.
Bull^in, official, of new National banks (see Official Bulletin.)
Bullion, jield of, in Colorado, 725.
Bunker, Paul, death of, 564.
Burdens of bank taxation, ra, 472.
Burke on the revenue of a State, 6x. Business depression in Austria, 776. Business, revival of, and economy* 874. By-laws of the American Bankers’ Asso- ciation, 397.
CairnSf Lord, an insolyent admin- tration, 97*
a a proposes remedies for the evils of the bankruptcy laws, 99. Calcutta, average drculanon of currency in, 520.
--j-Califomia banks, capital of, y6j, deposits of, t<^, 768. statistics of, 609, 854. savings banks, deposits of, 767.
Bonds of the Credit Fonder of France, faUhCalifornia, banking in, 761.
in. 7,
Bookkeeping, primitive (D. Drew’s), jt* Book notices. 230, 321, 491, 560, 648, 794. Boston and the public lands, 458.
• banks, capital of, 904*
banks and bankers of, 72, 155, 3x6, <06. 483, 7«7. 854. 856, 898, 991.
banks of, 72.
bank taxation in, 79^ 473, 476. deposit per capita, 768.
Digitized by
GENERAL INDEX.
vii
^^CaliforniaL failures in, 335, 337, 59a, 837. m first banks in, 761.
• first panic in, 76a.
• TOld mines of, 468.
• National gold banks established in,
768.
• rate of interest in, 767.
• savings banks of, 79, 854, 856.
• the banks of, 7^
Calls of bonds, 314, 406. 644, 734, 801, 899, 968.
Can the holder of a check sue the drawee ?
937.
Canada, area of, ^
• banking affairs in, 486.
« banks and bankers of, 73, 319, 408, 486, 566, 736, 738, 736, 806, 993, 99a. - faUures in. 335, w, 593, 593, 837.
• Jacques Cartier bank, 566.
• population of, 93.
• railways of, 93.
Canal shares, British, dividends on, 774. Capital and liabilities of British banks, 19.
• and railroad extension, 379.
• of Massachusetts banks first . taxed,
laa
• of National and State banks, 473.
• of New York banks, 665, 668.
• of New York clearing-house banks,
58a.
• of private banks, 505.
• of savin|^ banks, 505.
• of Swedish bank^ 5^
• of the Boston banl^, 904.
• on strike, 914.
Capital, average and taxable, of savings banks, 856.
• banking, estate taxable as, 981.
0 • taxation of, 160.
• • total of, in the U. S., 505.
• changes of, etc., 733.
M cQirents of, 914.
m definition of, 753.
• Edward Atkinson on, 370.
• fictitious, of State banks, i833-*37, 40.
• floating, how collected, 91.
• foreign, and new loans, 374,
• nature of, 839.
• ratios of taxation to, 473.
• retired, 406.
• taxation of a bank building as, 979.
• the Marquis of Salisbury on, 370. Carroll, C. H., on the discount deposit, 961. Cash credits of Swedish banks, 5^
Cashier and President, changes of, 75, 159,
343, 333, 410, 488, 649, 730, 8^, 906,
994-
Causes of failures, the, 591.
• of the depreciation of silver, 363.
« of the depression of industry, 367.
Centenary of Adam Smith, 18^
Centennial Address of the Hon. £. G. Spaulding, 37.
Central savings bank of St Louis, 1361. Century, a, of finance in the U. S.,fi7, i3x. Cemuscni, M., on bi-metallic mo^, 345,
495-
• « on mtemational money, 705.
0 # on money, 704.
Certificates, coin {su Money Maxket)
Certification of checLs, 334.
Chambers of commerce and bank taxation, 579-
Changes from gold to silver under the double standard, 30z.
0 in the monetary standard of Holland, 265.
• of capital, etc., 733.
• of president and cashier, 75, 159, 343,
33a, 410, 488, 569,649, 730, 808, 906. 994*
0 of title, etc., 907, 995.
Changes, di^lutions and disoontinuanoes, 75, 160, 341, 323, 413, 490, 570, 650, 733, 809,907.
Character and death of M. WolowMci, 351. Charges against hank superintendent Ellis, 90a.
Charters of Massachusetts Banks ; — . Bank of North America, 178a, 113. Massachusetts Bank, 17^ X14.
Union Bank of Boston, 1793, X15. Nantucket and Merrimack, Z797, 116. State Bank of Boston, z8ii, zao.
New England Bank, 18x3, lao.
Chase, Hon. S. P., and the bankers, 64.
• • and the banks in i86z, 173, 43a
• • appointed Secretary of the Treas-
ury, 124.
• « his National bank system, 135.
• • on banks in i86i, 43.
• • on the leg^-tehder acts, 377.
0 0 refuses the counsel and co-opera-
tion of the bankers, 135.
0 0 views of, 377.
• E., report of St. Louis banks, 155. Chatham, Lord, blunder of, 58.
Check stamp, the two-cent, 901.
Check, can the holder of a, demand legal tenders > 145.
0 can the holder of a, sue the drawee ?
937.
• retaining a debt from a, 799.
• rights of holder of, 973.
Checks payable to a fixed payee, 333. Checks, certification of, 334.
• crossed, on banks, 133.
0 duplicate, 234.
• fraudulent alterations in, 983.
• post dated, law of, 146, 318. m unstamped, 485.
m 0 right of search for, 40a. Chevalier, M., on AdaiaSmitl^ 183.
0 on the double standard in France, 495. Chevalier’s excitement on the value of gold, 51.
Christophie, M., on railroad extension, 379. Chicago banks, condition of, 565.
0 0 statistics of, 669.
0 bank taxadon in, 473, 476.
0 debt of, i8x.
0 failures in, 335, 593, 827.
• National bank notes redeemed and
destroyed, 50^
China, demand for silver in, 337.
• ^ver and gold in, 56.
0 0 shijmed to, 539.
Cincinnati bann/ statistics of, 669. Cincinnati, debt of, i8x.
0 bank taxation in, 473, 476.
Digitized by
viii
banker’s magazine — 1876-7.
Cincinnati, failures in, 335, 592, 827.
• National bank notes r^eemed and
destroyed, 504.
Circular of Comptroller Hillhouse on taxa- tion of bank shares, 5x3.
Circular, the specie, of President Jackson, 39-
Circulation from January, ’37, to January, ’43, ^Tcafly reduced, 41.
• of National bank notes, 151, 152, 400,
986, 987.
« of National banks {see Money Market).
• MU taxation of, Mr. Norris on,
671.
• of New York banks, 665.
« of ^per money, 401.
• of State banks taxed ten per cent., 44.
• of Swedish banks, 598.
Circulation, average note, in India, 520.
• explanation of, 829, 835.
• National bank note, 151, 152, 400, 986,
987. •
« National bank {see Monev Market).
» outstanding, of National banks, 416, 496, 574i 656.
1 the pa^r monev, 151.
City Bank, New York, organized, 661. Claims against suspended National banks, interest on, 977.
Clark, Luther C., death of, 899. Clearing-house ^sociation, N. Y., 100.
» banks. New York, capital, deposits and surplus, 582.
a established at San Francisco, 768.
• of New York, 332, 403.
» * commenced October, 1853, 45-
» of Vienna, 777.
Clearing House, action of, in i860 and 1873, 100.
• new, of the Gold Exchange, 645.
• New York, course of operations of,
748.
• the London, statistics of, 916.
• the London, transactions of, 915. Clearing Houses of the United States, 332. Clearing Houses, when first established, 45. Clearing methods and their legal recogni- tion, 183.
Clearings, system of, 46.
Clerks’, bank, of Missouri, association of,
138.
• * New York, association of, 554.
• m provident funds, 460.
Cleveland banks, statistics of, 669. Cleveland, bank taxation in, 473, 476.
» debt of, 181.
« National bank notes redeemed and destroyed, 504.
Closing of a savings bank, 564.
Coal combination, failure of, 89, 247.
• » history of the, 247.
» com^niesandproductivejCTOwth,925.
• supply! discussion on, in England, 90. Coal, production of, in Great Britain, 9^.
• productive power as dependent on, 89.
• trade, the British, 926.
Cobb, Howell, appointed Secretary of the Treasury, lai.
a • extracts from his report, i860, «3-
( Coe, G. S., on bank dividends, 961. i a on equalizing bank reserves, 100.
a on taxation of bank deposits, 672.
> Coin, drainage of, during the Mexican war,. 42.
I * silver, issue of, 6g.
' Coinage acts of 1853 and 1873, 244.
a of silver dollars, 1792 to 1873, 35.
I • • in Great Britain, 170.
a a pieces less than a dollar, 35. a of the U. S. mints, 236.
I a reform in Holland, 770.
i Coinage, amount of, for twelve years, xai, j a the, act of 1873, 29.
I a United States, 294.
; Coined money, when it is a legal tender, 129.
I Coin certificates {see Money Market).
' a in the Treasury {see Money Market).
I Coin, silver, 899.
’ Coins, discovery of, in Rome, 695.
I * gold, silver and minor, value of, 30.
I a old, 479.
! a rare, ^7.
a silver, issue of, 236.
Collateral, twice pigged, 155.
Collecting agents, responsibility of banks for, 719.
a banks, liability of, 140.
Collection p>aper, mis-sent, 722.
Collections not subject to protest, 147, Collections, “ no protest,” 146. a risk of, 799,
Colorado banks, statistics of, 669.
Colorado, banks and bankers of, 484, 725, 804, 898.
* bank taxation in, 473, 476. a bullion in, yield of, 725.
* failures in, 335, 337, 592, 827. Columbia, Bank of, at Hudson, chartered,
659-
Commerce carried on by credit is peculiar to the English-speaking race, ii. Commerce, foreign, of New York, 157. Commerci^ activity, the revival of, 843. a agencies, liability of, 374. a crisis in Germany, 516.
Commission, the silver, 483.
Committee of British Parliament report on silver, 147.
Comparative prices of staple articles, 640. Compound-interest notes, 65^.
Compt. of the Currency, dividends by, 238, 9^.
* a duties of, 149.
a a report of the, 472, 500.
I Congress and bank taxation, 417. a and the silver question, 16^ a on the issue of silver, 153.
Congress, bank taxation in, 645. a bills laid over, 240. a new acts of, i^. a the silver bill in, 5^.
Coimecticut banks, statistics of, 669.
a savings banks, statistics of, 564. Coimecticut, banks and bankers of, 72, 564, 646, 72s, 804, 852, 856, 898, 900, 961, 991.
a bank commissioners of, report of, ^6. a bank taxation in, 473, 476.
Digitized by
GENERAL INDEX.
IX
Connecticut, failures in, 335, ^7, 827.
m Farmers and Mecnani^’ Nationsd Bank, Hartford, 735.
* interest laws of, 72.
• new interest laws of, 900.
• saving banks of, 852. 961. Consolidation of Chicago banks, 565.
m of Montreal banks, 319.
Constitution of N. Y. Clearing House, 45.
m of the American Bankers’ Asso., 395. Contracts, inter-State, 565.
Contraction of currency, 698.
* of interest-bearing notes, 6^. Convention of bankers at Philadelphia,
249, 315*
* of bank officers at Washington, 70.
• of delegates in 1786 for the establish-
ment of a protective tariff, 57. Cooke & Co., Jay, release from bankrupt- cy, 237.
Co^pmtion and material progress, 282.
• in Austria, 282.
“ Comer” in trade dollars, 564. Correspondence of officials on Mr. Knox’s coinage and currency report, 32. Correspondents, inquiries of, 145, 233, 721, 798,^.
Cost of livii^ at different periods, 5a
* of the Franco-German war, 942. Cotton, price of for twelve years, 640. Counterfeit currency, supply of, 407, 484. Counterfeiters, punishment of, 154. Counterfeits of National-bank notes, 905. Counterfeits, must be stamped, 150.
m on stamping, 146.
Country National banks, liabilities of, 501.
m » a resources of, 500.
Coupons, detached, secured by the bond mortgage,
Cowdin, £. C., on bank taxation, 839.
m on the currency, 26.
Cox, James P., death of, 901.
Crawford, David, death of, 564,
Credit abroad, our, 817.
m and clearing-house, 45.
Credit Fonder of France ; — and its fortunes, 930. its assets and liabilities, 8. its four great functions, 7. its object, 7. its weak point, 8. troubles of the, 7.
Credit, the creation of, quite new, ii. Crisis, banking, in Portugal, 275.
m commerc^, in Germany, 516.
Cross, Trueman, death of, 72.
Cross^ checks on banks, 132.
Culture, self. Lord Gifford on, 66. Currency exchanges and balances, 332. m express cha^^ on, 988. m movements in Italy, 191. m » Germany, 583.
* of the U. S., Ernest Seyd on, 770.
• panic, none in England for Uiirty
years, x8.
Currency report of Knox, deputy comp- troller, y : —
Bonxano, Dr. M. F., on the, 33. Patterson, Robert, on the, 32.
Raymond, R. W., on the, 33.
Currency report of Dep. Compt. Knox Torrey, E)r. John, on the, 33.
Currency, contraction of, 6^.
• counterfeit, supply of, 407, 484.
# E. C. Cowdin’s address on the, 26.
a gold, average premium in i863-’4, 126,
* government, 6^.
* Indian paper, profits of, 521.
• our, different from English, advan-
tages of, 131.
a the paper, of India, 519. a total, 698.
a volume of, in relation to prices, 546. Customs receipts, at New York, 167. a a 1791-1875, 62.
Daily Premltun on Gk)ld at New York, 73, 160, 238, 323, 412, 491, 567, 642, 6to, 732, 807, 908, 994.
Dakota banks, statistics of, 669,
• banks