1 Includes dividends unpaid, postal savings, and United States deposits, but not amounts due to banks, except in case of reserve deposits with Federal reserve banks, which banks are required to maintain in gold and lawful money a reserve of not less than 35 per cent against deposits. Estimated on basis of capital, etc., of reporting private banks. • Decrease. As illustrating the marvelous growth in banking subsequent to the organization of the Federal reserve banks, it will be of interest to note that since June, 1914, the estimated banking power of the United States has increased from $24,340,000,000 to $34,473,100,000, in June, 1917, a gain of $10,133,100,000, or over 41 per cent, in three years. For the preceding three-year period, or from June, 1911, to June, 1914, the gain was only about 14 per cent, or from $21,334,400,000 to $24,340,000,000. The banking power of the United States alone to-day is more than double the banking power of the world as it stood in 1890 when Mulhall's estimate placed the world's banking power at $15,985,000,000, and the banking power of the United States is now more than six times greater than Mulhall's estimate of our banking power in 1890, which was given by him at $5,150,000,000. SUMMARY OF THE COMBINED RETURNS FROM NATIONAL AND OTHER BANKS IN JUNE, 1917. The banks furnishing statements for use in connection with this report number 27,923, being 410 more than reported in 1916. Their resources aggregate $37,126,763,138.31 against $32,271,237,696.93 in 1916, the increase being $4,855,525,441.38, or 15.04 per cent. The summary following is based upon reports of condition of 7,604 reporting national banks, and summaries furnished by the State banking departments and individual statements of 15,968 State banks, 622 mutual savings banks, 1,185 stock savings banks, 936 private banks, and 1,608 loan and trust companies. The reports from these banks are for the close of business June 20, except that the statistics furnished by the banking departments of four New England States, Hawaii, and Porto Rico, are for June 30, Pennsylvania for March 22, Minnesota for July 25, Iowa for May 21, Nebraska for May 7, Kansas for June 6, and Nevada for May 1. Statements from the Philippines are official and are dated December 31, 1916. Summary of reports of condition of 27,923 banks in the United States and island possessions, including national, State, savings, and private banks and loan and trust companies, for June 20, 1917. 1 National banks report loans secured by farm lands amounting to $107,361,000; State and private banks in 10 States report such loans to the amount of $34,848,208.76. 2 Includes rediscounts of national and other banks. Includes State and municipal deposits and other demand deposits. The following is a condensed statement of the reporting banks (State and national) in the United States as of June, 1917, arranged by States, together with the population and number of banks reporting for each State. |