The following table shows the number of banks whose charters will expire in each year from the 1st January, 1852, to the 1st January 1866, both inclusive; the amount of their respective capitals, (including State stock and canal revenue certificates,) the amount they are entitled to circulate, and the amount in actual circulation and on hand on the 1st December, 1851.

The kinds and amounts of stocks held on the 1st December, 1851, for certain incorporated banks in trust to redeem circulating notes under the several acts mentioned below, are as follows:

The following table shows the amount of circulating notes issued to seven safety fund banks, (and not returned) the charters of which have expired, and the date of the expiration of their respective charters

The aggregate amount of circulating notes issued to said banks and outstanding on the 1st day of December, 1851, was $1,555,507. A majority of the stockholders of six of these banks, have formed associations under the provisions of chapter 313, Laws of 1849, and are transacting business under the provisions of that act. It is apparent that the circulating notes issued to and put into circulation by these old incorporations under the provisions of the Safety Fund act are not returned to this department for destruction when redeemed, but are again put in circulation by the new associations and used in the transaction of their ordinary business.

The Legislature by the act of 1849 intended to grant great facilities to banks as their charters expired in changing from the safety fund to the free banking system, but it cannot be believed that it was intended to grant to associations formed under the provisions of the act referred to, the right or privilege of circulating for an unlimited time the notes of a corporation no longer in existence.

It is respectfully suggested that the act of 1849, be so amended that all banks, the charters of which have expired or may hereafter expire, shall be required to return their circulating notes to the Bank Department for destruction in a gradual manner in each year for three years next following the date of the expiration of their respective charters; and that after the expiration of said three years, no banking association formed under the provisions of said act of 1849, shall directly or indirectly put into circulation the notes of any corporation, the charter of which shall have thus expired.

TABLE

Showing the time when the charters of sundry Incorporated Banks expired, and the amount of their circulating notes outstanding and not returned to the Bank Department on the 1st day of December, 1851.

Name of Bank.

Charter expired.

Circulation.

Merchants' Exchange Bank, 1st Monday in June, 1849, $228,659 Bank of Auburn,.

1st January,

1850, 190,000

This fund was transferred from the charge of the Comptroller to the Superintendent of the Banking Department on the 28th day of June, 1851, in pursuance of chap. 164, Laws of 1851. The following is a statement of the condition of the fund on that day, viz:

Amount of six per cent stock issued on account of

the fund outstanding,

$626,451 69

Amount of assets of insolvent banks, . $25,623 32

Bonds and mortgages,..

14,604 73

Money in the Treasury,..

26,919 50

67,147 55

Debt of the fund, on the 28th day of June, 1851, exclusive of the six months' interest, falling due on the same on the 1st of July, 1851,

The receipts into the Treasury on account of the fund, from the 28th June to the 30th September, 1851, are..

....

The payments from the Treasury on account of

the fund, during the same period, viz:

For interest on stock,

For redemption of stock,.

$559,304 14

514 36

$18,408 26

500 00

$18,908 26

For a statement of the receipts and payments of the fund from the 30th of Sepember, 1850, to the 28th June, 1851, see report of the Comptroller.

The condition of the fund on the 30th day of September, 1851, is as follows, viz:

Amount of stock issued per chap. 114, Laws of 1845, on account of the Bank Fund, and remaining unpaid on the 30th September, 1851:

Debt of the fund, for the payment of which the contributions of one half per cent annually on the capital stock of the several Safety Fund banks are pledged, .

$577,730 22

There is due to this fund the sum of $6,348 from three banks whose charters have expired, the payment of which is resisted. Suits have been commenced by the Attorney General against the Bank of Utica and the Bank of Monroe, to recover the amount due from those institutions, which have not been decided. Should

these suits be decided in favor of the fund it is presumed that other banks, as their charters expire will pay the amount due from them without further litigation.

There is also a balance of $1,120 due from the Oneida Bank on account of the contribution for 1850. This sum is witheld by the bank for an alleged claim on the fund. In 1842, under the requirement of the law to replenish the Bank Fund, this bank paid into the Treasury in addition to the one half per cent upon its capital stock $2,000, and in 1843 the sum of $1,901.37. These sums were subsequently allowed by the Comptroller on account of the contributions due for 1848 and 1849-and the bank now claims that interest should be allowed on those sums up to the time the contributions for 1848 and 1849, became due.

There has been paid at the State Treasury for expenses for the Banking Department, from January 1st, 1851, to December 1st, 1851, both inclusive, chargeable to the free banks, the sum of $12,386.21, viz:

Refunded to the Treasury in the same time on account of the above advances,....

5,581 54

6,804 67

There has been paid at the State Treasury from May 1st, 1851, to December 1st, 1851, both inclusive, chargeable to the incorporated banks, $3,970.59, viz:

$10,775 26

Leaving the Treasury in advance,..

To refund this sum advanced by the Treasury, drafts will be made on the different banks and deposited to the credit of the Treasury, immediately after the close of the year. The expenses