RESOURCES OF STATE BANKS, TRUST COMPANIES

This article appears in Volume V03, Page 349 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: RAY-RHU

RESOURCES OF STATE BANKS, TRUST COMPANIES , &c.
Items. 1897. 1907.

Capital

CAPITAL (i.e. capital stock or fund)
CAPITAL (Lat. caput, head)

stock $380,090,778 $807,178,262
Surplus and profits 382,436,990 924,655,010
Loans 2,231,013,262 6,099,897,535
Deposits . 3,324,254,807 8,776,755,207
Total Resources . 4,258,677,065 11,168,514,516
The aggregate banking power of the United States, as computed by the comptroller of the currency in his annual report for 1907, increased from $5,150,000.000 in 1890 to $17,824,800,000 in 1907, and the banking power of foreign countries from $10,835,000,000 to $27,034,200,000, representing an increase for all

reporting

REPORTING

countries from $15,985,000,000 to $44,859,000,000.
The system of clearing cheques has attained a higher development in the United States than in .any other country, except perhaps,

Great

GREAT

Britain. Clearing-houses exist in about 112 leading cities, and the aggregate clearings for the year ending 30th September 1907 reached $154,662,515,258. The New

York

YORK
YORK (
HOUSE
- HOUSE
- HOUSE (O. Eng. hiss, a word common to Teutonic languages, cf. Dut. huis, Ger. Haus; in
  Gothic
  - GOTHIC
  it is only found in gudhiss, a temple; it may be ultimately connected with the root of " hide," conceal)
OF)
YORK, EDMUND OF
LANGLEY
- LANGLEY, SAMUEL PIERPONT (1834-1906)
, DUKE OF (1341-1402)
YORK, EDWARD
YORK, FREDERICK
AUGUSTUS
- AUGUSTUS (a name 1 derived from Lat. augeo, increase, i.e. venerable, majestic, Gr. Ee0avr6s)
, DUKE OF (1763-1827)
YORK, RICHARD, DUKE

Clearing-

House

HOUSE
HOUSE (O. Eng. hiss, a word common to Teutonic languages, cf. Dut. huis, Ger. Haus; in
Gothic
- GOTHIC
it is only found in gudhiss, a temple; it may be ultimately connected with the root of " hide," conceal)

inevitably does a large proportion of this business; its clearings constituted in 1906 67.2 % of the total clearings in 55 of the larger cities. The volume of clearings fluctuates greatly with the volume of stock-exchange transactions and with the business prosperity of the country. An indication of these fluctuations at New

York

YORK
YORK (HOUSE OF)
YORK, EDMUND OF
LANGLEY
- LANGLEY, SAMUEL PIERPONT (1834-1906)
, DUKE OF (1341-1402)
YORK, EDWARD
YORK, FREDERICK
AUGUSTUS
- AUGUSTUS (a name 1 derived from Lat. augeo, increase, i.e. venerable, majestic, Gr. Ee0avr6s)
, DUKE OF (1763-1827)
YORK, RICHARD, DUKE

is afforded by the following table, taken from Conant's Principles of Money and Banking, brought down to 1907.
The Clearing-House Committee of the New York Clearing-House exercises a powerful influence over the banking situation through its ability to refuse aid in emergencies to a bank which is unwisely conducted. This power was used in the panic of 1907 to eliminate several important, but speculative,

financial

FINANCIAL

interests from

control

CONTROL (Fr. contrdle, older form contre rolle, from Med. Lat. contra-rotulus, a counter roll or copy of a document used to check the original; there is no instance in English of the use of " control " in this, its literal, meaning)

of national banks. Only national and state banks and the sub-

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