First Report of the Executive Council of the American Bankers' Association for the Year 1877; Including the Addresses and Proceedings Before the Commi

First Report of the Executive Council of the American Bankers' Association for the Year 1877; Including the Addresses and Proceedings Before the Commi

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1877 edition. Excerpt: ...from whisky, tobacco, eigars, ale and beer, during the fiscal year, 1874, were in round numbers $102,000,000 1875" """ 110,000,000 1876" "" ..".. 116,700,000 If this increase shall continue, it will alone be nearly sufficient to compensate for the relief desired and granted. 10th. The bonds deposited with the United States' Treasurer by the National Banks, as security for circulation, are $337,727,800. All bonda deposited once bore interest at 6 percent. There are now of Five per ee-nt. bonds $134,652,000 of Four and a half per cent. bonds.. $10,305,000 This exchange made by the banks gives an annual savingto the Government of about $1,500,000, or nearly one half the annual tax on the deposits of these banks. When all the bonds shall be changed, there will be an annual saving of a sum just about equal to the whole tax on such deposits. 11th. What if the banks should break down under these burdens? When the cotton, or the iron, or the woolen interests suffer, large communities and districts suffer, but the business of the country in the main may be reasonably prosperous; when they all suffer there may be some hope, bufc if serious disaster falls upon the banks, if they suceumb to the pressure upon them, there is not a comfortable home in all the country which will not be filled with atnxiety and loss. The calamity would be universal. Mr. Buell, President of the Importers' and Traders' National Bank of New York, submitted his views, as follows: ME. BUELI/S ABBKESS. Gentlemen Of The Committee Of Wats Akd Means, --It has often been said that a compromise measure will satisfy no one, and yet I appear before you with my colleagues of this large and influential deputation, representing the banking and commercial...show more

Product details

  • Paperback | 26 pages
  • 189 x 246 x 1mm | 68g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236497228
  • 9781236497222