Chapter VIII
THE AFFAIRS OF THE BANK UNDER
THE COMPTROLLER OF THE
CURRENCY
BOARD OF COMMISSIONERS ABOLISHED
‘HE necessity for changing the administration
 of the affairs of the bank had long
been obvious and Congress was at last
convinced. The administration of the three commissioners
 was too expensive—from 1874 to 1879
it had cost $355,994.77; they lacked full authority
 to dispose of the property of the bank, and
their unedifying personal disputes brought discredit
 upon their work. So in 1881, partly as a
result of the Bruce investigation, Congress abolished
 the board of commissioners and made the
Comptroller of the Currency a commissioner to
close out the business. He was allowed a salary
of $1,000 to be taken from the funds of the bank;
thus a saving of $8,000 a year in salaries alone
was effected.’
DUTIES OF THE COMPTROLLER
By this act of Congress the funds collected by
the Comptroller were to be placed in the United
States Treasury and were to draw interest; when
dividends were to be declared, he was to pay the
1 Acts of February 21, 1881 and April 5, 1882,

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