Upon an examination of the foregoing statement it will be noted that there was an increase in deposits from $4,945,124,423 in 1896 to $7,238,986,450 in 1900, or over 46 per cent. During the four years from 1900 to 1904 deposits increased over 38 per cent; for the year ended June 30,1905, the increase was 13.5 per cent; the increase in the current year over 1905 was $865,000,000, or about 7.6 per cent. The ratio of increase in individual deposits from 1896 to 1906 was nearly 147 per cent.

The following table shows the amount of individual deposits in national and other reporting banks by geographical divisions on or about June 30, 1896 and 1906, together with the amount and per cent of increase:

It will be noted from the foregoing table that banks of the Southern States show the largest percentage of increase in deposits during the period from June 30, 1896, to June 30, 1906, the percentage of gain being 297.97, followed by the Western States, where the ratio of increase is 292.93, and in the order named: The Pacific States, 244; the Middle Western States, 210.94; the Eastern States, 136.15, and the New England States, 56.62.

The average individual deposit in the United States per capita of population has risen from $65 in 1896 to $95 in 1900, $122 in 1904, $136 in 1905, and $144 in 1906, being an average annual gain of $8.

The following comparative statement showing increase in population, individual deposits, and money in circulation in the United States from 1896 to 1906 is of interest:

In 1896 savings banks had the largest portion of the aggregate deposits of the country, or 39.1 per cent of the individual deposits in all reporting banks. National banks held 33.7 per cent; state banks, 14.1 per cent; loan and trust companies, 11.9 per cent, and private banks 1.2 per cent. Statistics relating to deposits for the current year show that the national banks now hold the largest portion of deposits, although the ratio has decreased from 33.7 per cent to 33.2 per cent since 1896. Savings banks hold 27 per cent against 39.1 per cent in 1896, H. Doc. 9, 59-2-25

while within the same period State bank deposits have risen from 14.1 to 22.5 per cent and loan and trust companies from 11.9 to 16.4 per cent.

The following table shows the amount and per cent of deposits held by the several classes of banks in 1896 and 1906.

On June 30, 1906, savings banks held the largest proportion of deposits in the New England and Pacific States, viz: 62 per cent and 33 per cent, respectively. In the Eastern States savings and national banks each held 31 per cent of the aggregate deposits of that section. State banks held 50 per cent of deposits in the Southern States; 45.9. per cent in the Middle Western States, and 33.1 per cent in the Pacific States. National banks held the largest proportion of deposits in the Western States, 58.2 per cent, and stand second as to deposits in the Southern States, with 47.4 per cent; in the Middle Western States they hold 39.6 per cent; in the Eastern States 31 per cent, and in the Pacific States 28.6 per cent.

Loan and trust companies hold 28 per cent of the aggregate deposits of the Eastern States; 18 per cent in the New England States; 4.3 per cent in the Pacific States, and 4.2 per cent in the Middle Western States. The proportion of deposits held by private banks in the geographical sections is 2.9 per cent in the Middle Western States; 2.1 per cent in the Western States; 0.9 per cent in the Southern States; 0.7 per cent in the Pacific States, and 0.1 per cent in the Eastern States.

BANK RESOURCES.

Table XII in the appendix to the report of the Comptroller of the Currency shows the average per capita of resources of each class of banks, state and national, and the per capita of all banks arranged by States and geographical sections. It appears that the average per capita of bank resources for the United States is $214.69. Geographically, the Eastern States are first, with $427.86; New England States second, $393.25; Pacific States third, $319.55; Middle Western States fourth, $164.24; and the Western and Southern States fifth and sixth, with $131.41 and $61.25, respectively. The State having the largest per capita of bank resources is New York, the amount per capita in that State being $639.80; California is second, with $515.70; and Rhode Island third, with $491.91. It is interesting to note that, excluding the Southern States and four of the Territories, the per capita in every other State ranges from $110 to $639, while in the Southern section only one State has a per capita of over $100, that being West Virginia. with a per capita of $105.46. The total resources of all banks, including island possessions, on or about June 30, 1906, was $18,147,578,959, and the estimated population of the United States on June 1, as computed by the government actuary, was 84,348,000 and of the island possessions 9,197,000.

GROWTH OF BANKING IN THE UNITED STATES.

The following table shows the growth of banking in the United States, including island possessions, as indicated by the number of banks, capital stock, and individual deposits, from 1902 to 1906:

From returns to this office on or about June 30, 1906, it appears that there were in operation 6,053 national banking associations, with capital of $826,129,785 and individual deposits of $4,055,873,636; also 11,852 State, savings, and private banks and loan and trust companies, with aggregate capital and deposits of $739,163,401 and $8,159,894,029, respectively; nonreporting banks to the number of 3,491, with capital and deposits estimated at $75,356,000 and $413,160,000, respectively; or a total of 21,396 banks and banking institutions, with capital of $1,640,649,186 and deposits of $12,628,727,665. Since 1902 the increase in the number of banks has been 5,240, capital stock has increased in the sum of $300,488,770, and individual deposits $3,045,611,887.

The number of national banks in active operation has increased by more than 33 per cent, and the foregoing indicates that the number of banks other than national have increased in about the same ratio. In 1902 national-bank capital represented 52.04 and deposits 32.3 per cent of aggregate capital and deposits, respectively, of all reporting banking institutions. The percentage of capital of national banks to capital of all banks in 1905 was 51.41, and of deposits, 32.10. For the present year the percentage of capital is 50.23 and of deposits 32.12. During the period from 1902 to 1906 the percentage of capital of banks other than national to the capital of all banks has increased from 47.6 to 49.77, and the percentage of individual deposits in such

banks from 67.7 to 67.88. In 1902 there was in operation in the United States one bank for every 4,897 inhabitants, in 1905 one for every 4,182, and in the present year one for every 3,956 inhabitants.

BANKS AND BANKING IN THE ISLAND POSSESSIONS.

THE PHILIPPINES.

The treasurer of the Philippine Archipelago is required by law to make examinations of banks and banking institutions doing business in the Philippine Islands, and also to obtain from the banks periodical statements of their condition. These statements are forwarded to the Insular Bureau of the War Department, and the reports of condition under date June 30, 1906, have been submitted by that Bureau to this office for use in connection with this report.

There are in operation in the archipelago, as shown by the reports in question, the following banks:

The Manila agency and the Iloilo subagency of the Hongkong and Shanghai Banking Corporation; the Manila agency and the Cebu subagency of the Chartered Bank of India, Australia and China; the Banco Español-Filipino at Manila and the Iloilo subagency; the Monte de Piedad and Savings Bank at Manila; the S. Misaka Bank at Manila, and the International Banking Corporation at Manila and its Cebu subagency.

A summary of the returns from these banks on June 30, 1906, together with individual statements made to the treasurer of the Philippines under that date, appears in the appendix to the report of the Comptroller of the Currency.

The resources of the 10 banks named aggregate $17,359,483, or a decrease of $4,040,381 as compared with the returns submitted in 1905. The principal items of resources and liabilities are: Loans and discounts, including overdrafts, $9,703,309; Philippine and other currency and bullion, $2,292,953; due from banks and agencies, $2,249,578; capital stock, $1,393,080; surplus and undivided profits, $1,224,230; bank notes outstanding, $750,000; individual deposits, $7,031,636; public deposits, insular, $309,333; bank deposits, $4,924,815. Comparing these returns with those submitted to this office under date of June 30, 1905, the loans and discounts show a decrease of $1,647,912, and cash holdings a decrease of $498,282. Individual deposits have increased in the sum of $549,814 and public deposits by $32,098; on the other hand, bank deposits have decreased from $8,530,464 in 1905 to $4,924,815 in 1906, a loss of $3,605,649.

Statements showing the condition on June 30, 1905, of the Bank of Pangasinan and the Yuen Sheng Exchange and Trading Company (Limited) were published in the Comptroller's report for 1905. Since that date the treasurer of the Philippine Islands has taken possession of the former bank as receiver, and the latter bank has discontinued making reports to the Island government in accordance with a decision of the attorney-general of the Philippine Islands that inasmuch as it does not receive money on general deposit this bank is not subject to governmental examination under the statutes of the Philippine Islands.

The International Banking Corporation has established an agency at Cebu during the past year, a statement of condition of which as of June 30, 1906, appears in the appendix to the report of the Comptroller of the Currency.

PORTO RICO.

By the courtesy of the treasurer of Porto Rico, reports have been received showing the condition of 8 Territorial banks and 1 private bank in operation in that island as of June 30, 1906. The capital stock of these 9 banks is $2,296,908, and aggregate resources $9,009,612. There is 1 national banking association in active operation in Porto Rico, with capital stock of $100,000 and resources on June 18, 1906, of $460,883. Combining the resources of the 9 Territorial banks with the national banking association reporting on the date named, the resources of the banks of Porto Rico aggregate $9,470,495, which is $605,765 less than the amount reported in 1905. The principal items of resources and liabilities of banks other than national are: Loans, $2,751,905; bonds and stocks, $1,663,751; due from banks and bankers, $1,076,077; real estate, furniture, and fixtures, $659,289; cash on hand, $1,576,444; capital stock, $2,296,908; surplus and undivided profits, $465,320; individual deposits, $4,739,509; bank deposits, $107,058. All of these items show gains over the year past, with the exception of cash on hand, amount due from other banks, and bank deposits.

The principal items of resources and liabilities of the one national bank, in operation in the island, as shown by the report of condition of June 18,1906, are as follows: Loans, $23,855; United States bonds, $100,000; other bonds, stocks, and securities, $151,658; due from banks and bankers, $92,843; cash in bank, $53,467; capital stock paid in, $100,000; undivided profits, $9,949: circulation outstanding, $100,000; individual deposits, $250,933.

HAWAII.

There are 4 national banks in the Territory of Hawaii with paidin capital stock, as shown by reports made under call of June 18, 1906, aggregating $587,500. Two banks have been authorized to begin business during the current year. The deposits in the 4 banks on June 18, 1906, aggregated $1,268,621, and the total resources were $2,244,907, against $1,886,212, as reported by the 2 national banks doing business in the Territory on May 29, 1905.

Unofficial reports have been received from 5 other banks doing business in the Territory, a summary of which shows capital of $2,178,702; individual deposits, $6,461,624; and aggregate resources of $9,611,414. In 1905, 7 banks reporting capital of $2,877,500 furnished statements for compilation of statistics relating to the banking institutions of Hawaii.

The principal items of resources and liabilities of the nine reporting banks, Territorial and national, are: Loans, including overdrafts, $6,802,905; stocks, bonds, etc., $2,253,078; due from banks, $489,574; cash on hand, $1,800,265; capital, $2,766,202; surplus and profits, $568,828; individual deposits, $7,400,120; United States deposits, including deposits of United States disbursing officers, $330,126; due to other banks, $289,639; aggregate resources, $11,856,321.

By comparing these figures with those published in the Comptroller's report for 1905 it will be found that the aggregate resources have increased in the sum of $540,660; investments in bonds, $885,329; cash on hand, $164,639; individual deposits, $500,484; United States deposits, $117,866, while the items that show a decrease are loans,