290 



FINANCES OF THE UNITED STATES. 



The ratio of taxation to capital for the year 

 1867 was as follows : United States tax, 2.2 ; 

 State tax, 2.1 ; total, 4.3. For the year 1869 

 the United States tax was 2.4, and the State 

 tax 1.7; total, 4.1. The whole amount of 

 United States tax paid by the national bfuks, 

 since the organization of the system in 1863, 

 is as follows: on circulation, $30,836,937; on 

 deposits, $30,104,762; on capital, $4,082,151; 

 total, $65,023,850. 



The returns from the State and savings 

 banks and trust companies are very incomplete, 

 for the reason that the laws of many of the 

 States do not require periodical reports to be 



made. The United States laws, however, re- 

 quire returns of capital, circulation, and de- 

 posits, to be made by all of these institutions, 

 and by private bankers, to the Commissioner 

 of Internal Revenue, for purposes of taxation ; 

 and from these returns, and from the reports 

 made to the Controller of the Currency, the 

 following statement has been prepared, show- 

 ing, by States, the amount of circulation of all 

 the national banks on January 1, 1876, and the 

 amount of capital and deposits of the national 

 banks and' of the State and savings banks, 

 trust companies, and private bankers, in May, 

 1875: 



