Show National Banks In the West While the statement of the national banks incorporated during tho fiscal year which ended about two weeks ago is of great interest t the whole country it is of particular and peculiar interest to the western section of it says the Globe Democrat In the twelve months which expired ex-pired with June 30 J new national banks were chartered in the United States with an aggregate capital of 109700 < Out of this total New England got only nine banks and the four middle states but seventeen Only seventy banks wero organized in the whole country east of the Mississippi river while west of that line eightysix were formed That is to say a region which ba only about a third of the population popula-tion of the entire country secures more than hal of the banks incorporated within the past twelve months Texas stands at the head of the list of states with seventeen new banks Kansas and Nebraska come next among tho states west of the Mississippi Missis-sippi with twelve each while Washington territory follows with nine and Missouri with eight Most of the other states and territories of the western group secured one or more new banks during the year The figures which we have given furnish a striking and impressive illustration of tho popularity of the national banking system Although the reduction of the aggregate circulation of the banks going on steadily at tho rate of from thirty to lorty million dollars annually the number of banks in existence is actually increasing Many 1 banks are winding up business every year but this number is exceeded by tho now I banks coming into the scheme Much the i greater part of tne new accessions to the I list are made in the far western states and territories and this is the section which I will be most severely injured by the extinction ex-tinction of the scheme The bonds on which I bank circulation is based are being rapidly 1 lessened by the reduction of the public deb Unless some new basis be devised I within the next few years the nonissue feature of banking will expire and in the I newer states at least this is the most important im-portant of the attributes of a bank Of 1 course a lessening of some of tho ridiculous and unnecessary restrictions and requirements require-ments imposed on these institutions would add somewhat to the inducements for capitalists capi-talists to engage in banking For example circulation to the extent of the par value of the bonds deposited could safely be allowed al-lowed But unless some satisfactory basis for circulating notes be adopted by Congress Con-gress within the next four or five years the most beneficial and popular function of the national banking system must cease |