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Show L- . MARVELOUS GROWTH IN COMMERCIAL IMPORTANCE tlonal bank circulation without any counter-balancing disadvantages. "The Comptroller would again call the attention of Congress to the necessity for legislation in regard to the liquidation liquida-tion and consolidation of national banks and the extension of their corporate existence. ex-istence. The reasons for this recommendation recom-mendation were given in detail in the report of the Comptroller of the Currency Cur-rency for December 7, 1903, and further experience and. administration of" the law show the necessity of come action, fciot only in the interest of better and more efficient administration but for the better protection of the rights of the shareholders of national banks." WASHINGTON, Dec. 8. The Comptroller Comp-troller of the Currency, in his annual report, re-port, made public today, says: "The figures given in this- report show the most marvelous growth in the wealth end commercial Importance of the United States. Almost every year all previous records are broken in the volume of Cur internal trade, our exports; ex-ports; and imports. . The people of the j United States have become the richest in the world, and the natural resources of the country are so great that this is sure to continue and increase for many years to come. The amount of bank clearings and deposits and' the 'money on hand in the banks increases in every . portion of the United States at a most remarkable rate. ' "In Epite of all thisv however, we do not peem to be taking our proper rank and position in foreign arid International 1 banking. One of the chief difficulties encountered by all merchants and man. ufacturers In extending their trade with foreign countries, and especially those of South America and of the Orient, is the lack of-American banking facilities and the necessity o,f doing this business very largely through European houses. This ranks next in Importance to the ' Question of an American merrnntlle ma - rine, as it is one that has a very great Influence on the volume and character of our foreign trade. "As long as the United States were experimenting ex-perimenting with silver or a bimetallic standard that fact acted as a handicap in this direction, but now that the gold standard is firmly and irrevocably established es-tablished we should be able to take our proper place in international banking transactions. , "The Comptroller respectfully recommends recom-mends that an act be passed repealing the limitation on the proportion of the circulation of any bank which may be issued in notes of the denomination of $5. The evident intention of Congress in Incorporating this restriction in the act of March 14, 1200, by which notes of the denomination of $5 are 'limited to one-third of the amount issuable by any j association, was to limit the total issue of notes of that denomination to one-third one-third of 4he aggregate amount issued. "The Comptroller would again renew the recommendation contained In his report re-port of December 1, 1902, for the repeal of section 9 of the act of July 9, 1882, which limits the amount of lawful money mon-ey which may be deposited with the Treasurer of the United States by national na-tional banks reducing their circulation to $3,000,000 during any calendar month. The reasons which led to the enactment enact-ment of this restriction have ceased to exist, and there does not appear to be any good reason why it should be continued con-tinued In force. Its repeal would add mnterl.illv fo the elasticity of the na- |