“But while you have been growing the East has grown rapidly. Take, for instance, the increase in bank corporations and banking capital, as an example. The capital and surplus of the banks of the East during the last thirty years have greatly increased. The increase in their deposits in the last twenty years has been without parallel in any other country. There has been an enormous increase in the deposits of savings-banks, which are properly institutions conducted not for the benefit of the shareholders, but solely for the benefit of the depositors. The deposits of the New England States in savings-banks were but 43 millions of dollars in 1852; in 1860, but 148 millions; they are now more than 1,190 millions. The deposits of the savings-banks of the State of New York in 1852 were less than 28 millions; they are now 505 millions. The capital of the banks of New York City during the last thirty years has increased from 35 millions to 80 millions, and a surplus of 40 millions has been accumulated. The loans have increased many times, and the individual deposits more than seven times, while the bank balances have increased in much greater ratio. Thirty years ago there was no clearing-house. In the year 1854 the exchanges were 5,000 millions; they are now 31,000 millions. The daily exchanges were 19 millions; they are now 101 millions. In the month of October of last year, according to the comptroller’s report, there was an increase of 469 millions over the previous year in the exchanges at the clearing-houses of the United States, of which increase 215 millions was in New York, 84 millions in Boston, 35 millions in Philadelphia, and 56 millions in Chicago. From a slip cut from the Chicago _Tribune_ on my way to this city, I find that the gross exchanges of the clearing-houses of the United States on September 21, 1889, was 1,044 millions, of which 663 millions was in the city of New York and 381 millions outside of New York. This slip contains returns from the clearing-houses of fifty different cities, including all the larger cities. The clearings of the city of Boston were $82,000,000, of Philadelphia $74,000,000, of Chicago $69,000,000, of St. Louis $20,000,000, and of Kansas City $9,000,000. “In the year 1861 I compiled a table showing at a glance the total receipts of the national banks on two different days, and the proportion of these receipts by the banks in the various cities. These returns show that while the total receipts upon a certain day were $295,000,000, the receipts of forty-eight banks in the city of New York were $165,000,000, or nearly 56 per cent. of the whole. The receipts of the four great cities of New York, Philadelphia, Boston, and Chicago, comprised nearly four fifths of the total receipts on June 30, 1881, and nearly three fourths of the total on September 17, 1881; while the sixteen reserved cities on June 30th were more than 85 per cent., and on September 17th more than 82 per cent., of the whole amount.