Chicago Daily Tribune Newspaper, November 29, 1880, Page 3

B, CURRE teenth Annual Report of the Controller. vo Statements of the Banks for Ton Banks Since the Resumption —Ratlos of ‘Their Loans to Their Meaus. mount of Ooin and Ourronoy in tho Country—Tho Silver on of Loans by Our National , aud by the Banks of France and Germany, 7, OFFICE OF THE CON- Noy, WASHINGTON, Nov. lo submit for tho f Congress tho eighteenth annual Controller of the Currency, In co with Sve, 333 of tho Itevised Stat- gAsUnY DEPANTM bi gi oy TH CURT a.—-1 have tho honor t jationnl banks have been organ- with an nggrezate nite 20,074,170, to which $3,062,200 a hnyo been fasted, ing a total cupital of $700,000, ied, ana dividends, amounting to 65, t, respectively, have beon paid tors of these bunks during the yoar 0 nto of failure, with an agurogute capital of $1,070,- aggregate circulation of $923,800, He eer ecantiniod business during tho bank, whieh ud formerly gono ation, la been plaved In tho hands of for the purpose of enforcing the ine yility of the shareholders, ate toe f National bunks organized from {Lourie mentor. tho National bantcing aya- Nov. lof tho present yoar, BLL have gone into voluntary ho votouf shurctioldera ownly leon pice in the huude ot Ho eth pli \ \- ae UCR of closiug up thelr af- since Nov. 1. 1870, aoe capltat of socirenlating notes rnree Danks, hiv the establishment ol 2495. OF theac, cavers for the purpose banks aro jocate’ iv every Stata of excopt Missiasippl, and in every Tor pt Arizanes aud the tou number in enition at tho date Inst named was 2,085, which atest number of bunks thut hus been in any one tne, teen States having tha largest eapttal y sotts, New York, Punneylvatila, omnectiont, Rhode Island, Ltiois, Ine ‘ylantl, New Jersey, Male, Keaticky. an, ja the order named. ‘fhe shure of the National banks whieh jt tho yenr Isc fumbered wore Unen six aud a halt miiiions, and were held in average nmouuts of £2400, were then distritsited atnang more thas 208,00) ersons residing In every Stute nod ‘Territory of. fotnion, ineleven countries or provinces of this Contingat and adjacent fslands, nud in trenty-tive countries in Europe, Asia, an ed In the azzregate number of National banks organized ara ten National eK, three of which, still In operation, 2 thestateut Callfornta, having nn agycegate c ial of €2,0N,00) and at total elrculation wl 810,000. Four of these bunks bave changed into other or- tho actor Feb, 1, 188, which h conversions. pending in, Congress providin; G10 of the Ravine Statutes, whleh Htmted tho annount of circa Hon to be lasned to the Nation bunks organ ged subsequentiy to July 12, ind also nuthorizing all Natio: Hrentativn not exceeding the nmountof thule fapttal, upon tho deposit of the ne amount of United States bonds, ‘Cho of thisaet wilentitle alt National bunk jame proportion of bonis as Is. posse: are located It nizations unde thie iroulution Upon eapltsl and by those: orgiataed jo passuge qAbis Lull fs MENTS OF THE NATIONAL It THN YEARS. “Tho following table exhibite the resourcosand Habllitiesof the National banks forelusen years, atnearly corresponding dates from 18i0 to i “BNO, “*snanvsa 30n1 v* S4answaaL EMIS Pit ood 5 = ® Fuonnne ING uC ruin! ms n ATS sag PO om Ported seus srwrrs__-f_esomtr EGgeebeate ‘TUE WANKR BINCE NESUMPTION. ment of tho currency and tho oporn= 0 banks have never heen more y during tho months which have ¢ the reaumption uf specte pays ‘i lost oF the politicnt econuimiats of orcountrice the rosumution of cole ¥ the Unitud States at tho time fixed 1 malntouance, were oat Linposdibie, No country bad ever eesatully mulntained payments | re 4 volume of currency oulatandlty ant of currenyy greatly in exec! Even those who were known to ba favor of reaumpuior NRFess, doubted the abl of the banks to commence and uyients without a pruparntory iG Mint OF nutes in clreulution, thtsilly, that no ution maintalnd bie puper currency which ti hte peoplo an equi both in und ry uf the Gove ‘4 would be an exception, and ib this reapect, wimong comers sumption wet giving wie 80 OF cola in thy Md with United Btates 4,4 tale resumption certain, Uitelent wont Rot less thin pur, as authorized by wwerds for tho bonds were Feaumption enme se easily believe ft contd have been us weil ong year eneller, 1f Congress bind ee lustend of upon tho fol+ ay ute of reaumption the country bas Yinonth growling rener du coin, ts of bonds, which bave been raps ux of “epevla tn return tua Of exports of our THis CHICAGO TRIBUNE: MONDAY, NOVEMBER 29, 1880—TEN PAGES abundant products aver our imports, Tho whole country bas ficcome so habituated to tho uso of per monyy that the diMlecutty has been, snbt to provide means for ita piyment, for Reareely nol haa beou demanderd.—iut to sitpply the people with Treasury and National Wath te tte which have been wlinost untyersally Orr ‘or inany years pust large amounts of curs renuy have ‘beon annually deawn from tho banks of the Clty of New York by tho banks in tho interior for the purchase and shipment of grain nod other producti. Tt banks In the West and South supply the rain buyers with money, who pay It to the farmord, and by thon tt la disbursed to the comutry murchants, It then gous to the wholesale ter= chanta In the larger cities of tho interior, by whont It Is depositud tn the banks and retuined to tho monuyecentres in the Eastern Status, This the money which was patd out In the fall roturns agin to the City of Now York long boferg taldwinter, whereby much of the vurroney of the country, Instead of continiing to giretlate, neenmulites in tha New York banks both before And atter tho time for tho large movenients of produce. ‘This obb and flow of the curreney continuod yourly tp to tho tine of the great: huryest of 180. “Tho drain of coln and currency from tho largo citlea, unounting to more that 100 millon dollira dariue tho fall of that year, made cure ronoy scarce in New York notwithatinding the unpreeodented Influx of gold from ubrond. The ustial retura of the currency in the winter was sapenlel but did not vceur, Tho exporlonce of 187° waa considered excoptionitl; but another oe has neurly pee and the experience of the foriner yeur has been, to a considerable extent, repented, A larga portion of tho avally of produce has been. retained, either for the liquidntian of debts, for employment in trade and commerce Nt home, or in the many now and extensive ene torprises for which tho West ia distingulshed, where thera would uppoar to bo no lint for the safe and profitable employment of expltal, Tho con in the banks bas increased from 41 milous on dan, 1, 1872, to 104 millions on Oct. 2, 1890, The ‘Treasury’ holds 1t4 inmense hoard of gold, Nat Sur tuidsel In ainount by any other depository in hu world, The merchant, tho munufacturer, and tha farmer are slike prosperotis; the people hava pald theirdebts to nn unprecedented deg and hold thule earotngs in Une paver curre: the Governmont and of tho bunks In amounts than have hitherto been known, 10 recolpta of tho Governisent have been so large that, after refunding muiny inillions of bund 6 percent bonds inte 4 per cents, It has suit been able during the year to purchase In the murket ata premium more than 100 milllongof itsbuuds for enneellation. Tho deposits of the banks lave everywhere incrensed, and money. has been abundant wherever bustieas or Iuvestinent hig invited capital, and there bas probubly never been a period when It bas gunerily commanded ko low a rate of interost ns durmy tho lnat two yenrs, The rato at tho Bunk of England and Bank of Franco las, for a constdenrble portion of this period, been #44 percent. ‘Lhe Euglish consuls ave for tho frst time in twenty-seven years advanced to par, while tho rate for call louis in Tondon has at times been nt what may be termed = the — futinitesinial rato of froin onc-hulf to soyen-clghths of 1 pur cent per anouin.® Low rates heve also prevailed in his country. In Now York for sume months past money at call, upon tho best collaterals, could bo obtatued at from? to 3 per cent, The average rite upon first-class commercial paper during the tiseal your of 1879 was 4.4 per cent, while the avernge rate during the succeeding fiscal your bis been Ail per cent. owing not to muittural but to artileink causes, ‘The rate, hows ever, for first-class inereantile paper in the past four months hus been from 4to4'4 per cunt. Low rates lve prevailed, not anty in New York City, where money ts not untrequently borrowed pon good collaterals for speculative panes but also throughout the coantry, Including: miuny places where mancy hus heretofore been fonned, if nt all, ne use rates. ‘The rites durhig the past yenr on hinge transaetions [In first-class comuiercial paner tava) beens Ln Philadelphia, 3 to & per cent: Boston and Sto ts Clevolan hit, 10: Denver, fornia (countes oulsville, ote eh mond, 7; Churicaton, 7 to 8; Bavannnh, 8; Sctant, average, 0; Atinati, 10; New Orleans, 4 tot, Rates ut nearly every polnt ace lesa than for previous y : ‘The borrowing power 6f tho Governmont for aconsiderable portion of the yer has been ut 3g percent, nnd that of many of the lending States wid elties4 per cent. aul rate du the State of New York hu reduced frum 7 t08 percent. Thore tiga Was hinge redietion in rates at romnote poluts which, tntlfreeently, have: been considered 1) the frontior, Muny 7 per cont railroad is Were i recently placed with dillculty, even at discount; now o ver cent bonds, upen Hines at more remate polnta, are, in muny instances, soll at par. It portions of the eountry: the rates for loans upott TuaLestete are higher thin for business papers Tu some of the Southern States It is dtitcult to toan monoy Upon real estute, on necount of tho Jugal obstactus in the way of collecting {t. The hinhest prevailing rates tro found in the cone try districts of the South, but itis now believed they will be wradually reduced, both by tho ine creasing yilug of [ts productions and’ by the introduction of foreign capital to be employe in manufactures, whieh lave nlready been in- troduced with great puccers, In large districts, of the West, where formerly money could pot be rendily obtained upon real estate, the mum- bev of borrowers is mich less, nnd the demand by no means equal to the supply of tunds seck+ doy fnvestinent In that elisa of securities, Such Jonns are now regarded not only aa desieuble tn vestinonts, so fur as sceurity Is concerned, but Are mide ata nich tess rate of interest thin formerly. Tho rates in New York ore subject to frequent changes, not only on ugcount of ‘the importation of cuit, the drain in payment for pauluce from the juterior, and the purchuse of bonds by the Government, but by the inilux of forolyn capital sevking employment in conso- quence of the provulling depression in busluess elaowhere. If the rates are taverable, turge tunounts of money ure placed by cavlo by. redle dents in foroign countries, and by telegraph bes tween remote points in ourown country, With ns much cortalnty and safety us by thy uxo uf bills of exchange or by the movement of coli ttavit. 8o relfable hna thie means of transfer become that not only are payments thus made at home and nbroud, but turge sales of brendatufts aid .other products are ncconipllshed by purties in tho interior citics without the tntervention of agents at tho seaports, thus shortening tho tine of Uilts drawn upon shipments of products, Many men who were formerly borrowers have become lenders; and numerous londers now seul investinent In Government bonds aud other so. curities which yiokd much less thin the legal rate of Intnrost, « ‘The wbundanco of monoy and tho low rate of interest have made it ditteult for capitalists to find satlefuctory Investinonts and have led tho Controlier to oxuimine the rtatements of tho banks for n eorlus of ycirs in ordor to compare thoir ratios of tains to thoirmenns, and to acer: ton If, during tha past two ycurs, thoy buve found uso for their Increased depoalts, - Inorder to show this the following table ts given, which oxhibits concisely the ratios of capital, surplus, and net deposits to the louns of the banks, and tho nitlos of xpeole nnd legate tender notes to net deposits, in Now York and in the group of othor principnl citios separately, ae corroaporiiae, dutes from 1870 to 1880, fn elusive: Benteananee | (faeeeseeeee Pyopbepl pe | [spre ps2 \ £ eb PECEHONBMES| (REBEEREEAEBS| F B S| § eRe BE] [spnepepanaas| 3 BESHHCABEEBE) |SEBPR2RR CHS! F is} i riers ad REGSCUREREgE| F a|FF “Ei wu0a aS Peuor nnn “pas = ey Heererencnes | alii sauxtan vaso ‘ayeedap BEBREREEEHYS “tn 187 consols wore quoted at pricas vary tog from 3 bolow par to nourly Wit thu Woaosy of qnt.era for dunt your bultig us cotluwa: Conant reo. ful Ih ox any, th fanuary and gouched 10 tn Alay, and 101 warly una, They wore thon quoted 4x Ay.. Wie wore qaotwd at tol ux diy, on thy. std of June, ont Hills ween ay that tue takots in the oper iiurkot at Bborgunts, Duriug Aucust thors wise W rulupe to fy. Hit af iy begining of September cunsols wore waain above 1d) They rouminud abayt stint pricy Unit Novoubur. wien thoy ose to 1ba and tr Dus comer tu litte, Pioy wuch thou quoted 1Ws4 ox aly Livi ex diy. tn isis fron qt Bur cowed for tha yeu x they tel below 10) dirs fortnight fn January, ng reducud 3 por coute then ut uth, quickly tule jawed. Mut by Marek they secuversd cy 1, wud ovrards tha end of April they fun to Wl. Consulta res jayaud to 1W induny, wid wer a ois ¥ ‘Octobe! un oy ©: ay t Win Octabory 1h upd have Sieaisirereey Bra A ates caleonaee Beda late cov, dy 4 Tt will aurprise those whose attention has not heretofore been enlled to tho aubject to find of the hanks in cammercini cities t Y stating tho varindions in rites of interest, and yiduring tho tnst two yi meonbundant and tho depodte It willbe aeon that i i, with tho exception of a alnyle your, 10 lonus in Now York exceaded the net depos: its, while sinco that time, though there has beon considerable variation, tho net deposits have beon somowhnt in excess of the Ty tho other principal cities, which a Rmounta of money itt New York subject to demand, and thus diminish tholr own net deposita table, tho touns have tlways tnrgoly exceeded tholr doposita.g Tho samo remark phatleally true of tho banks Jn tho country dis+ Leta, Tyiletn iaiy An. New York,ns well og in continually keen Jat banks ts also much farger, na compared with thoir deposite, than Is that of the banks Jn the Ineo cities, and thulr loaus therefore relatively nu ‘Tho rntto of tho loans of this group of banks to net depoalts will be seen In the statement pos Juw, which also ineludes a table show!n posite, and cir loans, enpital. banks of the United rerves of allt! Sint: osée Sofooo RERERERERE: PenEHE NENA esters games l papas Pq rai US % fo. ners Prope nc) #0 TN | SOT TE RS NY Silvas acing ute ~apadg [aismbp penpdins | yP3pteg | suve7 suo, ALVES GALINA aIMOLNIA 20 ROILVIT 8 of the bunks now Mons, which ts 206 millions more responding date in 1878, while the surplus at the previous millions in excess of the present ainount. The net deposits in the sine perlod tnerensed near! 200 inillions, and the total Individunl and: bia deposits, not deducting the ainount duo from 3 the Cluarinu- House exchanges, more to tho urge aud ntilions, ng wuy be es 0 classification of tha loans of the banks fn tho City of New York, in Boston, Philadelphia, wad Balthnore, and in ve cities, for the last two yours, at the dutes of thely reporta In the month of Uce exceed 10 wi niitlons, amount unprecedented #1 geen from n previous tab) The following table. giv -sutoy 39T20 IY = *NOLLVOraISsvI1a uiep EO “pURMOp yINAAS JONI INH TTEN W404 S1IN0) yd Wel UE jasoweyyray OMT TOT F 1 ak 0 nos 425]49 24. | cusses §. equ] fajuneg TL HELA F $ OISHST SS §) 201 #1 on sesturd sus jenna oss’ | “AUG 79 “ayebasOy" aT EINES ist" 6 wu seen—whit would bo exe ected frum a large inerense in the Clearing- Hunseoxchnnges, which areds miiltons more thin in 1878, and lurwer than at any Une since BB A large inerense In loans upon stuoks and bonds Much of this inorenso ja iu to operations at the atock board, which aro always most buoyant in prosperous theca; but « considernble portion may bo duc to loans imade to banks and bunkers in the Interior upot collaternl aecurity nt rates ao low nes to love roomn for profit in relonning to their own denlurs, Tho amuunt invested bythe binks in United other stocks and bonds fs more thin 2 millions of dollars, ae may be seen In a previous table, whlch fuct is ovidence elther of nditticulty in obtnining sntisfuctury loans or of a preference for such Lemporary investments. Whon the rates of Interest ure I dangor that bank managers, in thelrdestre ta uae their availible meuns, may bo fndaced to loun tipon securities which ire not of the best charace ter, ond thugin tho end diminish rather than proraire. thule COE Er ine Lede yar at tho hest point in the your 1875, 10 twa pres tt J tha National bunks were then hh ratud of Interest, thelr large eurnings und dividonds; but tho delusion bus beon di the cnorimeus losses which they buve been obliged to charge otf during tho past five yenrs, reaching the extraordinary suin of 300 Indillons, which were largely the result of overs trading during the perlod when gold coin was a Letandard a promisa to payable gn domant, viois yours, and commodity, and the lo unfultiited and ea expericnced these yuars, which will nat soon be forgotten, enforce the pringlple that no logitiianta business Is wate which is cons dueted upon a varying ste the crleld of 1877 will alway Hatriking exumple of the evil resutts arivtay from business conducted during “good thnes } cash reservo required of the bnuks In Now York City laz5 per cent of thelr doposita, of the banks In tho othor reserve ultics oue-nulf of this ratio, and of the bunks in tho ydistricty0 por cent of thelr deposita, nount reyulied bins in the aggregate wl- eon held, excopt ina singly metance in of New York, during the luat tan years oluding thy Kedemprion Fund th the TVrouaury), by the three diterent groupa of Nu» tonal bankay but the aggregate amount In the City of New York has Ucen nt times very close, and partiomarly durtug the lust three years, and some nuke hive freq bara tuts lone et fee tr rolylng upon Imports of yuld or pureha niles by : asury to ropleniyis thule des ‘Tho banks iu tho Intorlor, if wo consider thelr Jnrge depoalta elsowhers, ure ng a rule found to bo inuch stronger fn avilable menns thin the while the reverse of this should always be trae when such large bale amounting to moru than er banks, ure constantly on der elty subjcot tu demand. ‘Thuy linports of gedit in exeesa OF ox the cute of resumption to i und the estimated riod is SU7,4U.te during this porlod ne fuerensed $14 075,973, and in the bunks ond the remulnder, 808403301, lus persed throughout the country or used in tho dard of vatues and be remembered 18 upon ao fetitions basis, ‘The umount of Ley! if not habitually, ronsonable traits, bond by tho ‘Tre; Helont resurves, the f posit in tho latte irotd provtuetion tn the Freasury tine anty, ‘The amount of currency and cotn in the coun b pruater thin at any former Unng, and its distribution, toxothor with igappeariuce trum tho moneys Leen an interestiny discussion. The Controlter, inv brief review of thie subject dr his last report, wave a table sl lug thu Amount of coin tho banks, and to amount then cetinuted to bo in the banda of the people. ——— fe PN ding tmports. outside of Now York SSL nGnP a pegs soonest Bow ror Our try fy known to. ta tha Treasury und in COIN AND ConRENGY, Tables aro borewith Riven showing theamount of coin and currency inthe country on dan. 1 and Nov. [, 1879, and_on Noy. 1 of tho presont years tho amounts of allver and gold coin, which: include the bullion in the Treasury, being tho eatiinates of the Director of the Mint: ma, Now. 1 Leaal-tendor novon' SiNMiid © BEL UIk & URE NE 1 nt a a .¢ Aly SLC Td SITAR BOT Nat.-bank note: H, Ie oot ti, Bese sc elzis8) Tokuwoa Wetter 04 058 35.619 61, 155,080,0003 61,502,728, 440 Tho amount of ‘Treasury notes has remained tho sume since Jan. 1, 1870, 08 provided by Inw. Thero wan an incronto of bankenoter for tha Nat ten months of 1851 $13,340,744, and for the present yeur of #0 7 creuso of National bank notes isso since re: suMmpuon 1a $20,062,435, and tho total increase of wold €175,701,04 and of silver £41,007,424. The statomont below gives tho amount of currency and coin in tho ‘Treusury at tha same dates 19 In the provious tables, and the amount in tha National banks, on tho dites of thelr returns nenrest thoreto<namely: Jan, Land Oct. 2 187, and Oct, 1, 140, respectively, The xmount given fot the ‘State ‘bunks und triat compantes and tho anvings banks is nt tho nesrost comparative dates of tholr otticin! reporta. ‘Tho banks tn tho State of California report, thotr coin and cur- rency tn tho aygregnto, und in this tuble thocoin in_cstimuted to be threc-fourtha af tho total amount and tho currency one-fourth, Gold~ 1 San. 1, £49. Nov, 1, 1479, Now, 1, 1550, ATTAT 61 Blvor— An the Trensne: Nard aivordOliner ’ 12070 § SnMS0S § aT iuntes iy 9121417 SSUAGL 6,185,000 6081 17,8 (24,635,501. GAD LET 406402 OA ATT a Inthe Treasury, to In tho'lronsury, frno- Jann coines: In National pat cluding corutcat ‘Total sliver... HTT OOS $4100 & Curroncy— An tho ‘Trenaury, m National burtkerecs teetiiea) Tessas iiiovs 1 An State banker, Jn savings bani 16 ‘Total currency... 4244,000,00 Grand totals,....6GWSRe SGT BI “Includer £10,000.000 United States notes, special fund for tho redeaiption of Srucuonal currency, ‘The allver cortificutes, of whieh $1,105,120 was held by the National banks and the reinaining 818,016,121 was In chelation on Nov, J, 1880, are not jncluded In the above exhibit. from the amount -of coin and currency in the country, us given in the frst tuble, the Amount inthe ‘lrensury and the bunks be de> ducted, the remainder will give the amount of each kind then in the bands of the peuple out- side of they depositories, as fullowa: Sart. £159 Now. 1, Le9. Now, 1. 180, AUICTA HASO E30 SIS NG UREMTLE TATU COUT 431,Trides A Paes The gold in the Tronaury has inereasod $20,- MUUK, und In tho banks $75,061, releasing 850,168,8 of paper currency in the Treasury and $37,008,685 In tho banks. ‘ho increus of gold outalde of tho ‘Tronury and the banka 18 #7 inion and of paper currency 104.4 tilttuns. ‘The umount of standard dollars eulnod ETB, Of which $471,089 are in the = ‘Trensury ound UU 1 32. in clroulation, ‘The “romainder of the silver, $8,424,077, 19 subsidiury and trade del- Jurs, and butllon, of which €3),6u,001 Is itr the ‘Treasury und $54,005,018, 18 in use in pluce of tha previous fractlomtl paper curreney which, on Murob 2h 1874, wags at the highest point, and amounted to $10,010,700, The ndditionul amount of gold voin, of sliver dollurs, wid paper cur reicy outside of tho ‘frensury and the banks ts Thus estimated to be $105,274,401, whieh amuunt huts been diepersed nmong thy people since the date of resuinption, The average priccaand value of manufacturcd goods. of breadstuits, of provistons, and of other products has lirgely Increased. ‘The luborer has ean steadily employed at remuneratlve ways, ‘The frontier hag rapidly receded from the usual plnces of deposit. All classes of people have won Hquidating thelr depts, und much greater anus of money have been held in the tls of vountry' traders and at home for ready use, The hoarding of a sinull umount by edeb of fifty millious ot people, or by ton nillitons of families, 1s of ftself suiticlent to uecount for the disup- pearance of a lirge portion af the addition to the circulating medium since tho dute of ro- “sumption, The most gratifying exhibit in the above Btitement {s the fret that tho National bunks ure now doing business upon a specie basis and with trae suundird., For the three yeurs pros ceding tho resuinption of specie payments tho averuge ainount of coin held by the banks wus Ut FUN, and wil But S300 of this wnount hig beon held by the banks in the City: of New York. Vho amount of cola held haa, of course, nt tu largely execeded thle average, ta on Jan. 20, 1877, when it was more than 49 in{llions, But this amount was soon ree duced, and on tha following April it had fallen tow intifions, tho previous increnao having boen dus chivily, not to deposits of derlors or piys || Ients on Jonns, but to disburements of intercet by tho Uoverninunt. At other tues the banks have held much less than tho avertzo umount Stated, For jnatunce, on Oat. 1, 1575, they hekl Wut $8,000,229, of which tho bunks in the City of New York held but 4065,62, and on May Lot tho saing yenr thoy betd but $10,000, of which tho banks in the City ot Now York hela 80,68). {Pals was ut the time when both thy paper issues ofthe Government and the circulution of the bunks were ut tholr bizhost amounts, the formor belny 428 mitllons und tha latter 354 millions, in all, 72 millions, while tho propertion of col to tholrclreulation then bold by tho bunks was only about’ per cent. Tha Controilor, ti bis Jast report, urgontly recommended “that nll the National banks should take ra ee of tho present influx of gold to accumulate in their vaults un amount equal to the total cash reserve required by law,” and expressed the hope * that tho reports of an= other yenr might show them to. be possessed 0 Atiease 100 uilions fn gold coin.” On June 14 of Bro nicsent yeur the banks reported 0 nilll- fons of specie, and on Oct, J inore thay 100 mille jons of coin Gineluding nearly six and one-half of allver), whieh inore thin equals ono-thied of the totat circulation of the banks in operation, ‘Tho quiount of gold coin uow held §3 but 2 mille ions less than tho whole cush reserve required, aud would undoubtedly have been still greater except for the bigh rates charged for the trans: portation of gold coln, whieh ure greatly dlxpro- portioned to the cost of moving paper curren nad which, st 18 ta be boped, will, by some meuns, be largely reduced, ‘THE SILVER DOLLAR, Much nowapnper criticlam bos uppenred in the meanthne, complaining uf tho compuratively smiull umount of legul-tonder silver dollars held by the banks, und somo of the bunks ‘baye thomselyes — cneouraged — this criticlatn, ‘The urguments used in favor of the neguinihition of wllver under existing Jawa ure unsound in peincipte and gyatust all oxperionce, No ono prefers wo put uway for future use product which will spoll by lapse of tle, or | which will deteriorate in value. The banks, if woll maniged, wit transact buginess upon the sume general principle as an individu of su- iene Judgmout would conduct bis own alfalrs, ulding in reserve that coln whlch fs known to bo of uniform value avery whoro in preference to that which, by the overition of the inwa of trode or business, will be thkely ta become of toss value, ‘The law compels tho citizen and the corporation to receive all lugal-tender money ti paymont of dubta; but It doug not, and ought fot tu, require any ene to recelye on deposit that whieb will not us readily be received In turn Ly tho dopositur, ‘Tho banks as a class bnye no projudice azainst allyor coin other thin that dccasloned by Its Ine convoeniener, Lf Congress shull, by wise lexislu- tion, forbld tho issue OF sinnll notes, and restrlat: tho ailver fgsucs within judicious Maits, the standucd silver dollar wiih du good service, and soon wconinutate in bank vaulis and Nid ite way into general clrculution, If not, it (3 wisdom on the part of bank otters, who uct forthe hiterest of thor stockbalderg, to keep thoir reserves and. oil thats Faulty tous us nearly as possible in Kokt con. ‘This brief outline of some of tho transactions of the Nutional banks covers the most fmportant period of tho Nnanclal history of the country, and shows the imimncnse advantige experiunced by thie country from having, during the yoara following the great War, an oxcellent banking mente: The system was cetublisned, not for the honetit of the azock holders of the banks, but for tho bunctit of all the peaple, Tts ampte busts of untrupatred capital its large supptles, ite large cush reserves, its sucired clrouladon, its pros tection te depositor, and its genural manage: lnent for tho past vleveu yeura, must commund it to every student of pofitienl coongnyyy and It id among tho most gratifying of politteal styne that during tho lito orelting Gamipaliette while both partios buye clulmed tho credit of having brought about a return to specie paymenbi, hoithor party hua urged thy abollabinens of the system. ‘The National Lunks bava now entered upon a new careor, ‘Tho wuchinery {win excollunt working order, and but litielegiv ation ja needed to perfect ttintu a homogeneous guia whieh will bu part and parcel of the ation, But it docs not follow bacause tho bunks are tradwucting business upon i true staudurd cuit they will bo exempt frum furthor louses, ‘the buzards of business are costalnly muck leas on that account, but tho supld and unprecedented hie circrtatias mediuns, such ne bis Jocrease of tl boon experienced in the last two years. may ‘Te sub fn great injury: ell ns buenellt to the country. ‘Tho god hi of the mines, tho Inlay of apecia trom abroad, the increnaling dened for produce aid uninus fuctures, thy prosperous condition of trady and of the tndusines of the country, are sure to ba folluwed Me perlods Of depression which witl pet nut only the value af cotlaterale feb Jarge auiounts of call Jonns are bused, but alzu the pasiient of commercial piper. The umount uf leaol reserve required to. duced by tho ues of June 2, 1374, aud the percentage: bold iu sriuaely at upon wh! be hetd by the hanks wus lirgely: the dargur citled has been greatly dim! during tho pust tew yeurs. The sudden aad enerinouy iucrewse of fndividaal and bank do- poelts hia the comuierclal centres should be aoe compantiod not anly by the rese banks would cheok unnoalthy speculations and keep themselvyos in condition for un advorso Ualunou af trude snd for the legithuate demands of tho depositors and correspondents who con: fide in then. DIRTRINUTION OF _TOANB FRANCE, THE NATIONAT, BANKS OF THE UNITED STATES, AND THK UMPLREAL BANK OF GRR? 19 equal to $:35,04N0,000, AA roquired: in 1874 at a loss of ERT A eos WUE AGL UES WMT AID ABATE. TUL maining two-third: WR STATOR EMATRON 25 esol Teunkou to £0, Bilis of at there vorveoe GOIRSEATIT $8,015,218 $208,005,118 will be ecen, wie 8 each discauiit, 3 LR, thesu Dilla was sixty: for vach yotor, or gaoh, nuarl the States hud die vets, tho lirge products counts of the: aurounted to Ht mille of paper bell beng 1 was held by all of tne " Hy bined. ‘Pho divcounta of tho New Raghu banks W miliuns, which were represented by wer ho wmonnt of die [GLK pieced uf paners The cougta in the Now England states erably inure tian those af the Wast be ; nate in Noi ee a yubout oneskule the wumber by, 1) aa ay banks in New York Pieces ot paper af in the bus and Wert, C10) het FH al enh, Feantnder of tho state dak, Toston hold 2258 of such picces, and the rowalnder of Sisaehurelts, wo. Padudelabla held &8, and the remainder of Pennsylvania bi; Calcuyo held ¢2, und tho ree tulader of Ulinote 106. feces held by the four oltica bere nimed wae Sa. which Lb more than one-half uf tha uucroe ¢ roquited by hiw, but by w much yreater percentise of vuln and a muck smaller expansion of luans, if the MANY, Bank of France, ‘The report of tho transactions of tho Hank of Franco for 1879, made by tho General Caunell to the gencral mecting of sharcholdors on the 2th of Jununry, 1880, contains much interesting tn- formation in refereneo to its operations. The Bank of Franco has a eapital of 152,500,000 franca, which, expreaser jn the currency of this country, at the rite of five francs to tho dollar, It has ninoty branches, by lnw, forty-one of which were carried on in 1878 at a logs of $162,225, and thirty $i5,40, The cireutation of tho bank on Nov. 4, 1880, wis $474,805,700; ite de posits, $117,109,0024, of which $40,521,005 were Gove urninent deposit: Ite coin, $1148. 82501, 400 of Bttve: Thy amount of commercial paper discounted atthe Uunk of France und ite branches during the year 3679 ren when it was 817%, nd its lonts, $15,707,459, ed its inaximutn on Noy. 2 which was about twice the amout o! The reports for 1878 and 1879 give classifica. Uons of the aris bills. Tho discount of certain clnases of these trade bills, which are for ver: small amounts, {8 ® characteristic of tho Ban! of France, and the statistics aro both Interest- {ng and curious, The report gives f clussitica- tian of the bills on Paris for 1879, as follows: Hus uf 10 francs, ur {iench, and under... , 7512 ills of 1 francs io W) francs enc ur E219 ib HL of Bi TU) csssrrorsecessesseracoeses: It will be observed that tho whole number of bills wis nearly four millions, of which more than two-thirds (2,878,204) were for ainounta bove $0, ‘The remaining 1021019 bills were all for sums less than 3), which, at tho bighest Himit, could not much exeocd 16 millions. Thero were 623.2% bills In amounts varying from to & Thore were also 8U2.Rb bills yarying in umounts from $2.20 to $10, and 72 bills us low ns $2 ench, or under. The num= ber of trade bill in 1877 below $20 waa BELT 1878, 1,054,381; and in 1899, 1,021,919. The av amount of each of tho # $171.80; the a ‘was $185.60; thor tho average was $180, The uumpber. ctassificition, and amount of commercial bills discounted during the years 1878 and 1879 are stated below in tabular form: 10.20 enuye of the bills nt the branches taking tho whole number to- 31 53] of 22) ) eal 2s zits Bae * =e g #3 E825 cae | 3 ue 2 | 38s. Ble Bers |2 % S322 el18| G33 |i. gligl s52/3]4 ti ied [Eye FES | ZUEL S$ 2 aleel 3° | | glee] = BIER) > eel? Blaal Glue} = &leq| (gleal 3 elédl [Riga F In 1878 tho average amount of ench bill dis. counted at Paris was 2178.40, und at tho branches F103AG, tho averaxe of the wholo beliys $185.80, The Dank of France recolves these bills from bankers, who keep neeounts with it, ag It die- counta only for its depositors. These bunkers fn turn discount thom for small brokers, who: receive thom for this purpose fromthe workinre asses. ‘The bills are presented to the bank for el discount, with accompanying schedules. Tho rate of interest [4 the same on sruntl ils og on larvo ones. and noecbarge 14 nude beyond tho discount or interest. Tho greiter part of those bills are promlasory notes, and Issucd from small manufacturers, and also from workinen on thelr owe neogumty known as makers of tho Articles io Paris." The Nattonat Banks of the United States. Tho following tubte gives by geographient di- visions 8 olassification, similar to the foregoing, of the notes and bills discounted beld by the Nae tionul banks on Oct. 2, 1870, when tho total amount of loans was $875,018,107: N 1 ery A Byeee a z eedze | ge w eeees 3 Gc Peeae #8 2:88:28 i eis g E 7 svengung fovog| 67 id rey set ito uy : Rie rs: aM . Re pea |e BRIE aux | FEE Ble gig | B23 eli a5 | PE (Sone tekes oad voontts o ont ws eet lorve stsTe ons kel bs “con't yy Coad rss sci eSeT oarul “ontens cots | owt | a era 40 SOLLVOIAISEY ID. ANY NaaKaR| 74320 yup n'st \ocs"t | so: Tere eat a2 Jeans fecal ut SCTE lov torniesss eoTOR | fomraienc tag Oren Tt “gunewy BT 17LOL A = a Hae | i Ie the nverngo time of Tt, whieh wits ma w Bighad banks cou vonalde Ve Sus; Yuin bver, und th NY THE HANK OF of gold and 10,00), bein nearly tive times the amount of its capltal. “Tho minimum minuint, which occurred on March 2, was $7 7TH capital. In addition to comincrelal Daper, oF trade bills, discounted, the bank mukes ad on colintoral securities, such as bullicn, railway shares, and Government bonds. Thi Atnount of such udvances (n 1878 wan $22,000,000, which waa increneed In 1879 to $331,100, combined ammount of commercial paper, or Lrade bills, and of advances on securities, ranged from $190,000,000 to $27,000,000. counts and loans tho bank usually holds atiout $54,000,000 in various securities of the Fronch Government. About one-third of the commerelal paper die counted nt Parla ($20,885,585) wor payable in towns whore tho hanks hud branches, the re- 8 (€404,0.475) being ‘payable in that city, Tho total amount of commercial paper discounted during the entire More than 1,452 mnillions of dollars (#1,442,175,2%), The tol number of pleces of pupor discounted during tho yeur wos 4,071,0%, of which number eva le payable at the branches and 3,002,- ag.at Paris. vances jo hihest OW), Tho Tn addition to its ise ear wus i4 ‘erage Paris bills In 1879 was ‘Tho number of pieces of papur digcounted, ud 209, aud the wverugu of 6 BNE Hud the binke bel continually the anime amount, the numberof divconnts made during the year would bo uly Hive malllinsa 4,049,013), the total discounts more, than live thousand riltlions Giz50,0000n, whleb would be equnl to a discount of 700 wnnually HOO for ouch aunty te the country, The number of notes and tills of $100 o> loss. ub the dite named waa Yl, or iy naeethind of the wholes tho nuibor ot Dilla of Ieas thin #500 cach was DiTU85, or cunstil> erably more thin two-thinds of the whole; while tho nhiabar of bills of tesa shan $1,000 ouch wis: 642,743, Which is more than three-fourths of tho whole number Kvory State and Territory, except Ptorida, Dakoul, and Washtugton, bid of $1.00 and aver, aud overy State, except Florida, tad disconnits Of $4,000) and over, fay anes iunounty sary in fron PI, oe er 000, und aver, 0 hd H Luke i the State at New York thy huamber ol pleces maint Bingley discounts Ait Tho total nuinber of f of this cinss of bitla held by all tho National bunks in tho United States. Tha Rank Exam- iner in the City of New York gives tho following estimate of the average amountof loansin tho City of Now York: ALAS Wane, voraging 0) each, amount #104,000,000 tie t orn r+ + 37,000,100 2007 loans, averaging iid "nach, ninount- I Lica errerserctorrsrerees BSA TID Of the loans exceeding $10,000 each he cati- mates ns follows: 150 of #0,00, amounting to $7,500,000, and 89 of $100,000, nmounting to 88,000,- OW, Ho soya that the largest loan of nos kind that ever passed through his bands was ono for tho auin of 81,000.00, xenured by United States bonds, und wasn icyitinate transaction, under- stood to haye been prloclpatly employed In the erection of an enormous ofl-reftnery in New dereey. Ho also suys that he bus frequently handled demand loans of &,0u0 cach. Tn nugwer to un inquiry in reference to amall jonns, be replies that the tolneco manufacturers Tecelve farce apountsof promiaaney notes rang- ing from $13 to 80, uvernying about #25 each, nyvbio i Alinost overy city, town, and village in the country, and running froin thirty to fifty days’ thine, ‘he sewing-innchine conpanics and the manufacturers of billlard-tables, pianos, and farming implements nleo receive large nume bersof notes of frown 210 to & on aes nny monthly payments on artictes mold by them. Thosu small nutes arc usually recelved by the banks ns collateral security for tonne, and ara forwarded by them for collection. A charge for vollection of from 10 to24centeis made upon ench ainall note. ‘Th He nmount of cach loan in New York City wns S3,M2; in Boston, S00; Philadelphin 1,688; Pittsburg, $1.06; Chicago, $2.44; Hult More, £1,503: Milwauka, $2,080. Fhe 3 St. Loui Cinelpnattl, FL: Cleveland, Bets De- trait, £ Louisville, $1,007; and New Or- Jeans, $1,{86, Among the States having the smallest uverngo Jonna wero tho following: New York, exclusiva of tho Cities of New York and Albany, 840; fonerivanla, exclusive of Puiladelpbia and Pittal 80H; Maryland, exclusive of Bultle more, $46; Kunens,in which the average wus Ri: Town, with averize uf 85; West Virginia, of 830; Delaware, $56; New Jersey, $40; Minnesott, Mt; Vermont, $45: North The imperial Bank of Germany. Tho Iinperial Bank of Germany has u capital of $9,000,000, und is located in the City of Berlin, ‘he total number of billy of nll kinds dise counted during tho year 1870 was 2st, amounting to 285°, 175.060, the avernge amount of euch bill being $353.00. The bills are classified as follows; Thero were G39 Berlin bills, Amounting to $205,063,25,—nvernge 404,15 ench; the number of iniand bills was 1,434, fg to $578,005,535, and avaraieiay & and the number of foreign bills war 647) In Amount $9,819,005, und averaging $1,515.51 cach, ‘The average umount of toans and discounts for the year was $82,073,000, Tho loans nnd dls- counts were highest on Dec, ul, when they wero a8 follows: Amount Nerlin bill Inland bill Forelgn oil ‘Total bill: eeeenee Dt sts HOI EH. ‘Tho discounta were lowest in the month of March. thelr tutu! amount belug at that ume EOC 700, ‘The time of the Bertin bills varied from fix- teen to seventy-six days, thalr average boing Uttysflve days, and the thne of tho inland bills was from fourteen to sixty-throe days, their Bveruge boing twenty-six duys, THE COMMUNISTS. Another Howl Agninat the Well-to-Do. ‘The Communists, or the Moriun faction there- of, held their usuml Sunday afternoon meetlug yesterduy ut No. 54 Luke street. The question announced to be discussed wus whether or uot the workingmen were prosperous, and particu. far pains bad been taken to secure the nt- tendance of any person who had amassed wealth by Jaboring, The subject bad been sugxeated by anedttorintin Tux Trimune of recent date, and the guthering bad been extenslyely udver- tlsed, but somehow there were no new races In tho assemblage, Morgan, as usuul, led in the discussion, setting forth, jaan urray of statis- ties, that it was inpossible to gain wealth by lubor, of which ho was an Mlustration, and matt talning that mechanics only recelved from &h7 to $00) per year, which was barely enough to tunintain them, consequently thoy could nut bo- come rich. Othera spoke upon tho sitme sub- Jeet, holding the same viows practically, and the resultet the mecting was the adoption of tho fullowing resolutions: Whereas, From tho statistien! reports of tho varlous Bureaus of Lubor Statistics, and also front tho reports of the numerous Inbor organ- izations of this country, the nwful fret is irres tutubly set forth that the wage-workers of this Nation ure, under the present existing condl- tions, doomed to be a clusy of sutl-paupera, with charicteristies as alike and marked ns thosy that uitict the workers of Europe; and that tudee the moet frvarable conditions of su- cuiled Industrind and commercial prosperity $t or $1.60 for cach Hving duy tn the yeur (i518 all that can possibly be etrncd, while in ordinary: tutes the possible curiings ure ns low nsf) cout or 45 cents for eich day, and upon this miserable pittance a homo and family Inust be supported; and Wheteas, The opportunity of eseaping from thia goul-panper chiss to that of the employing chias 14 as one chince In ten thousand, ne ts proved, not only by the reports already referred to, but alsu by ‘the reports of our local Work shop and Factory Inspectors, which show tht 1 por cent of the employing cliss or thems of this city employ 9 per cent of all the ware. works of this gitys and that this concentration of employ tne pdwer fs rapidly) progressing and making it utterly finpossible tor any number of persons born wave-staves to become employorss and Wirngas, Tho palatial resitences that aro filing up tho fashionuble avenucs of this city, the matmoth stores, warchouses, factories, of- fice blocks, und other costly bazars, tho fashlon- able churches, club-bouses, and other wealthy plices of amusement, the costly hirelings of tha pulpit and press, who are paid from . 32,000 to Siu. a yenr to Sng tally dubia es delude, and bumbie tho niass of the people, aud tho well-equipped and costly inilitin supported to. physically intimidate those that the pulpit and preas cannot keep quiet, all testity to the stead increas Of riches, nouns of Uving, wad so-ualled savings of tho employing class, who squcezy thelr profits out of the underpaid, underfed, and overworked wayges-alaves; and Yiirneas, Now Inventions, discoveries, lubor- saving arrangements, and the fmpreved organt- zution of labor, are rapidly olininating all pere sonal skit and replacing even unskilled labor in Almost wll departments of industry. by. femalo and child liver, and those in turd by tho auto- muitio machine, all of whieh create still: greater extramnus of wenlth and poverty; and Wuennas, The present trade and bor organs (zations have fallcd to remedy those evils; thure> ‘ore, dteanived, That we, who represant In this meet. ing the werkingines and worklogwomen of Chie exo, hereby cull upon all who ure interested or who aynipathize with us to joln ty the mritation fornuniication of atl hibor reformers for the purpose of (as far as possible) regulating and ralbing the waxes of nil workers Jn all trades, ovenputions, aud employments, and by eoncert- ed action, law, and pabiio opinion, regulate the vorporitiona and monopolles created aud fos tered by the State und Local Governmentsand to plucoavheek upon the averbearing conduet of hand by all tggitimate means seck tho robbery of the workers through tho present wages rystem, ————— Tho Daily Lito of an Kinpreas, Vienna Prete Presee, Tho Empress Elizabeth begins hor day's work and nmusement with a cup of cold chocolate tiken ntZo’clock, Thou she goes to tho stable to ney hor hunting pots; thon recoives her stows ard and makes arrangentanta ns to presontas pone Jntorvipwn: Lp A steak and a couple of glasses of Hungariat wine, after which Ther indy: 4 tho nows nnd reads to divors newspapers. Bhe dinca nt 6 and thon dons her elding habit and cus, which if connected with her private apurtmonts. Horo sho mounte some mettiesome horse wonderful skill and boldness, t Lt aho takes a beof- -in-wwalting tolls hot er puragriphs from ea to tho large clrs by & covered pissaga and trains him with Whon soma annie mal tmnaually wid and spirited is to bo con- quered, a fow npprecintive guests are invited to came und look on nt the daring Empress’ pro- re Fora cough or soro throat tho bert medicine by furis Hulo’s fumous Honey of Horehound Te ‘Toothacho Drops curo in one minute. ae AMUSEMENTS, IAVERLY’S J.1L HAVERLY,..._. Isnagor and Proprictor, December 6th, STRAKOSCH & HESS GREAT IN OPERA COREA. HATIONAL MARIE, ROZEH, Glov, Peruzint, Ostava Torrinal, Al ©: Aug, Montegriit, je Currington, rua Nohirmer, ductor and Chorus Mi iy : AS RICORD, Mrs ertuire-Atda, Carmon, Lohengiin, Mimon, ‘The Hohomtan Giri, Wit i 7 . Fhe tohonntan Girl, Wihian Teil, Fauet, Fra Dayolo, Hrices, enic of reserved sents, and other will be found in futuro nawspnpor advurt FOX'S, THEATRE. Weat side. THE ONLY snOW OD 50 STAR ARTISTS 50 The Createst, Entertainment in Chicazo CITAS. THORNTON In his Great Souantion Border Drama, SIMON KENTON. GLORIOUS OLIO. GRAND MATINEES Wednesday, Saturday, and Sunday. CENTRAL MUSIC-HALL. FRENCH LECTURES, By L. Sauveur, Ph. D., LL.D.. ‘Tho Course will bo given nt tho Apollo tall, Central DAYS, Nov, i, Dec, 714, ly ‘THE WEAT SIDES Muste-Hntl, on TUE Jon.d nnd IL Subject of the First Lecture: MOMTAIGNE, THE SKEPTIC. Subserivers ut the door. ERLY’S THEATRE esereerereen Manoiter tend LAST WEEK THIS SEASON OF LEMITTS GRAND ENGLISH OPERA BURLESQUE COMPANY First and Only Week tn Chicago of the Grand Spea tacalar Burlesque, N Ss 4.1L HAVER SEE Introducing tha * Hessian ‘Laut; ole Batlet Trot y Ol the aturs, including Seling Doluro and Murig Wile * English Opera C ‘Strakosah & Hes: HOOLEYS THEATRE, Monday, Nov." Every Eveniug nnd Wednesday and Saturday Matinees, tha Dramatic Event of the Sea font Engagoment’of MRS. SCOTT-SIDDONS Supported by SUL LUIGI LARLACHE and a Pt fui Denn ‘Thin Monday Evening, KING RENE’S DAUGHTER And TUE HONEY MO ON. Wg Pee SIOUN 1. RAYMOND, 8 “COL, GRAND OPER Clark-rt., opposite wz this Monday, pany, Grand Doublo Ril, Nov. %, Seven Nigh Slatinees, Kuauweniont of the Poulage ‘oung Actur and Author, A. STEVENS, In hisown Ruccessful Drama, UNENOWN: Ov, THE RIVER MYSTERY. Next Week—THE STRATEGISTS. McVICKEN’S THEATRE. THIK WEEK? Wednesday and Saturday Aatinous. SOL SMITH RUSSELL In his now famous charncter of TOM DILLOWAY, Ta the New American Comedy, EDGEWOOD FOLKS. ext, Weok-The Great Comedian, JOSEPH JER SPRAGUE’S OLYMPIC’ THEATRE. TORY DERIERS 6 “TICKLED,” or H JOHN “very Evening and EAT PANTOMIME TROUPE ha new Oddity, umpty Dumpty’Hevly Hatched, and Matinces Wednes- ay, Saturday. and Sunday. HERSHEY HALL, (Opposite MoVickor's Theatre.) Stor Programme THE MONTMIERS, TH ME! pertain Oe tS aoteanceana avira DR. RICOLD'S RESTORATIVE PILIS® aro anpuclite for Kxhaunted Vientity, Phyeieal D tm hh Hori Ue Atadicino He rm niodicul colubritivs of the world. Peepired after the formula of the celebs J CoMMMMin no phosphorus oF canthurldes, but ro Puruly w vexotabin, muse cu i a Thavo been recummontity Dr, Kieord’a Itustarwtive in my practic to linireds of putlonts fur Sexual Doe bitty, und naver Huard of n sluyte fallure Dr, Lduble, the great German cht prutive is orgutiic, 10 Dr. Kubspall writes je reteeer © 6 Inborutury conte ty of tha soxuat fad; DOxe? OF 101, 3; boxos 01 walled box on Teculpt gd) PLUMMER & CO, 54 Lake-st, rod na Ricord'a Vital Aspurions article Is advert! ts : diy. which protnds 10 Mentorative, dowe £3 pills, jet ba trom Puriy, are dude hure, wid not fruw Dr, tie ard’a toruulis, TROPIC YRUIE LAXATIVE. CONSTIPATION Or Habitual Costiveness, invariably causes general derange- ment of the entire system, and begets many diseases that are gloomy in their aspect, and often hazardous to health and life. Persons of this habit of body are subject to Melancholy Feel: ings, Headache, Low Spirits, Timidity, Defective Memory, Nervousness, Fevers, Languor, Drowsiness, Irritable Temper, Indisposition, and other consequent symptoms, which often unfits the sufferer for business or agreeable associations, REGULAR HABIT OF BODY ALONE can correct the evils enumerated above, and nothing stc- ceeds so well in achieving and naintaining this condition as ‘Tropic-FRuiIt LAXaATIVE.: By its use not only ts the System Renovated and’. Cleansed of all impurities, but tn consequence of | the HARMONIOUS cHaANGEs ths created, there per- vades the entire ovgantsin a feeling of satiety; the: mental faculties perform their functions with. ~ renewed vivacity, and there ts an exhilaration of mind, freedom of thought, and perfect heart's ease that bespeak the full enjoyment of health. Troric-Frutr Laxative 1s Sovp py Drucaists at GOc. A Box, 67° AVOID COUNTERFEITS AND SPURIOUS IMITATIONS,“@a