Page:The American Cyclopædia (1879) Volume XVI.djvu/167

Rh in millions of dollars the resources and liabilities of state banks in the years 1857 and 1875, and of national banks in 1865 and 1875:

The following table exhibits for each year, from 1868 to 1875 inclusive, the amount of circulation and of net deposits of the national banks, together with the reserve required and held by them, the figures below hundreds of thousands being omitted:

The total amount of circulation on March 1, 1876, was $342,819,073, of which $24,452,580 is being retired, lawful money having been deposited with the treasurer for that purpose. The remainder of the circulation, $318,366,493, is secured by $356,680,150 of United States bonds, the value of which in currency on

March 1, 1876, was $427,947,224, and in gold $374,582,200. The following statement shows by geographical divisions the average number of national, state, private, and savings banks during the six months ending May 31, 1875, with their average capital and deposits in millions of dollars:

—There is no national system of education in the United States, and the general government exercises no control over public schools and makes no regular provision for their support, except that the military academy at West Point, N. Y., the school of artillery at Fortress Monroe, Va., and the naval academy at Annapolis, Md., are wholly supported and controlled by the government. Officers are also detailed by the government to give military

instruction in certain colleges. (See, and . For the aid given by the government for the advancement of learning, see .) The regulation of all matters pertaining to education is left entirely to the states, each of which maintains a system of public instruction independently of the others. In each state free common schools are provided by law for all persons of school age. But the general government has made liberal provision for purposes of education by various grants of land, dating as far back as 1803. More than 75,000,000 acres of land have thus been set apart