in the sum of $112,134; amount due from banks and bankers, $338,392; capital stock, $111,298; surplus and profits, $17,152, and amount due to banks and bankers, $13,426.

BUILDING AND LOAN ASSOCIATIONS.

By the courtesy of H. F. Cellarius, secretary of the United States League of Local Building and Loan Associations, recently compiled statistics relating to the condition of the building and loan associations of the country are herewith presented. The report is for the year ended December 31, 1905. The receipts and disbursements of building and loan associations of the United States, as shown by the report, were $38,000,000 in excess of the previous year, the receipts from weekly dues being $15,000,000 more than in the prior year. There was also a large increase in the earnings, aggregating $5,294,204 more than in the year before, as the mortgage loans were over $22,000,000 in excess of the previous year. The receipts and disbursements of the associations for the year ended January 1, 1906, are shown in the following statement:

The

The secretary states in his annual report that the associations during the past year have, in a marked degree, shared the general prosperity of the country, and have done the largest business in their history. It appears that the assets of the local building and loan associations of the United States amount to $629,344,257, or $29,000,000 more than shown by the report of the prior year. total membership in the 5,264 associations is reported at 1,642,127, an increase of a little over 11,000 for the year. The returns submitted relate to 4,239 associations located in the 21 States named and 1,025 combined under the head "Other States." The report states that there has been a continuous growth since 1901, and that during the four years following 1901 an increase in membership of over 100,000 and nearly $64,000,000 in assets occurred. The largest gain in assets made during the past year was in Ohio, where the was $7,162,519. Pennsylvania gained $4,604,467; New Jersey, $3,296,361; Massachusetts, $3,111,034; Illinois, $1,921,665; California, $1,280,829; Indiana, $1,084,142, and Nebraska, $1,051,947. Three States show less assets than for the preceding years-Missouri, $201,410; Tennessee, $187,306, and Kentucky, $2,265,848. The large decrease in Kentucky is explained as due to the liquidation of two large associations in that State.

The following table shows, by States, the number of associations, total membership, and total assets in 1905, together with increase or decrease in assets and membership over the year 1904:

NOTE.-Apparent decrease of 20,311 in membership in Ohio results from clerical errors made by the State Department in compilation of figures of last year, being given as 320,215, whereas the correct figures were 301,340; actual decrease, 1,436.

The foregoing statistics, the secretary states, relate exclusively to local building and loan associations. National building and loan associations to the number of 60, with estimated assets of $20,000,000, are stated to have been in existence on January 1, 1906.

SCHOOL SAVINGS BANKS.

Statistics relating to the operation of school savings banks of the United States, in existence on January 1, 1906, have been received through the courtesy of J. H. Thiry, of Long Island City, N. Y. From Mr. Thiry's report it appears that the school savings bank system is now in operation in 1,023 schools of 122 cities of 25 States, and the pupils of these schools have deposited $4,864,575.98, of which $3,641,015.66 have been withdrawn, leaving a balance of $1,223,560.32 due depositors on January 1, 1906.

MONEY IN THE UNITED STATES.

The stock of money in the United States on June 30, 1906, amounted to $3,069,900,000, of which $2,162,000,000 was in coin (including bullion in the Treasury) and $907,000,000 in United States notes and national bank notes. The coin, bullion, and paper currency in the Treasury as assets amounted to $325,400,000, the remainder, $2,744,500,000, being in circulation. The estimated population of the country on that date was 84,622,000, giving an average circulation per capita of $32.42, against a per capita of $31.08 for 1905 and $21.10 in 1896. The amount of money held by national and other reporting banks in the United States, shown by reports nearest to June 30, 1906,

was $1,010,700,000, which leaves $1,733,800,000 in circulation, exclusive of money in the Treasury and in banks, being a gain of $133.700,000 over the amount in circulation in 1905, outside of the banks and the Treasury. The money in the Treasury on June 30, 1906, represented 10.60 per cent of the stock; in reporting banks 32.92 per cent, and elsewhere 56.49 per cent. The per capita unaccounted for in 1906 appears to be $20.48, an increase of $1.26 over the per capita estimated for 1905 and a gain of $6.83 in the per capita of money estimated to be in circulation ten years ago.

The monthly circulation statements issued from the Treasury Department show the general stock of money in the United States, the amount held in Treasury as assets of the Government, the money in circulation, and disclose the amount of each class of coin or paper currency. At the close of the fiscal year ended June 30, 1896, the stock of money in the country was $1,799,900,000 and consisted of $599,600,000 in gold, $627,700,000 silver, $346,681,016 legal-tender notes, and $226,000,547 national-bank notes. At the close of the last fiscal year, June 30, 1906, the stock of money was $3,069,884,640, an increase in the ten-year period of $1,269,900,000. The increase in the stock of gold was $873,395,000, silver $60,200,000, and national-bank circulation $335,111,813. No change occurred in the amount of legal-tender notes. During the decade in question the gold coinage amounted to $900,768,352, and in this period the exports of gold exceeded the imports by approximately $50,000,000, the imports aggregating $166,728,891 and the exports $216,652,337. In the years 1897 and 1898 the imports of gold exceeded the exports by $66,300,000, but annually thereafter to the current year the exports largely exceeded imports. In 1905 the exports were $54,409,014, as against imports of $2,236,399. The imports for the current fiscal year were $35,251,921, as against exports of $20,573,572, the imports exceeding the exports by nearly $15,000,000.

Of the coin and other money in the United States at the close of the fiscal year ended June 30, 1906, $1,016,448,222 was held by national and other banks, including those in the island possessions, the details of which are set forth in the accompanying table:

GOLD AND OTHER MONEY HELD BY NATIONAL BANKS ON JUNE 18, 1906, AND BY OTHER REPORTING BANKS AND BANKERS ON OR ABOUT THE SAME DATE.

The following table relates to the distribution of money in the United States, showing the amount in the Treasury as assets, in reporting banks and elsewhere from 1892 to 1906:

a $12,567,265, b $10,125,909, e $9,240,801, d $7,620,304, 1 $6,301,890, and 9 $5,661,868, in banks of island possessions not included in these returns.

In 1896 the then Comptroller had compiled and published in his annual report statistics showing by States the cash held by national and other reporting banks on July 1 of that year. For this report a similar statement has been prepared showing the amount of gold and other money held by national banks on June 18, 1906, and by other reporting banks and bankers on or about the same date, which will be found in Table No. XIV of the appendix to the report of the Comptroller of the Currency.

Upon reference to the table it will be seen that on or about June 30, 1906, the sum of $1,016,448,222 was in 17,905 banks of the country, $5,661,868 of the amount being in 28 banks located in the island possessions. Three-fifths of the stock of money consisted of specie and the remaining two-fifths of paper currency and unclassified cash, as follows:

Gold represents over 48 per cent of the cash in bank; silver dollars, fractional and unclassified specie 14 per cent; legal tenders and national-bank notes about 29 per cent; the balance, 9 per cent, being unclassified.

The following classification of the currency held by the banks in 1896 and 1906 is presented for the purpose of comparison, the sum in banks in the island possessions not being included:

In July, 1896, 9,469 banks reported individual deposits of $4,945,124,423, and cash holdings of $531,856,513, the cash being 10.72 per cent of deposits. The individual deposits of all reporting banks in the United States on or about June 30 of the present year amounted to $12,196,029,486, and the cash on hand of these banks was $1,010,786,354, or about 8.3 per cent of deposits. The following table shows deposits and cash holdings and percentage of cash to deposits of the several classes of reporting banks:

The percentage of cash to deposits held by banks other than national appears to be less than one-fourth the percentage held by national banks, such holdings being 16.80 per cent by national banks and an average of 4.04 per cent by all other banks.

The geographical distribution of money in banks of the United States in 1896, 1900, 1904, and 1906 is shown in the following table: