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National Bank Circulation

National Bank Circulation image
Parent Issue
Day
18
Month
May
Year
1877
Copyright
Public Domain
OCR Text

From a statement by the Comptroller of the Currenoy it appcars that the whole amount of uluitional circulation issued to national banks from June 20, 1874, to May 1, 1877, was $30,306,495. The amount of legal tenders deposited iu the treasnry during the same timo to retire bank circulatiou was $69,993,517. This shows a net deorease of $39,627,052 in the bank circulatiou, aooompJishecl, or in prooeaa of aooomplishment. Of the additional issues Mii.sKMclmsctt├ banks received tho lnrgost antonnt, $7,371,1)15 : New York banks noxt, $4,981,970, and Pennsylvmiia next, $4,├╝(i3,480. These three States received more tliiin one-lialf of the whole. Ouly six States reoeived more than one million each, the Wiwe uot ajready mentioaed bejng Keutuc, Oliio, and Indiana. The banks of New York deposited 815,309,160 to retire circulation, being nearly thrce times as much as either Miissachusette or Penn. Bylvania, deposited. Ulinois banka deposited $6,586,560, or more than either Massachusctts or Pensylvauia, while they callod for onh $870,075 of additional circulation. The WesUirn States genorally snrrenderej more and took out loss than tho Eastera SkiU's in proportion to the imouut previouBly held by them respectively.

Article

Subjects
Old News
Michigan Argus