Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1866-05-17
Financial and Commercial.

Financial and Commercial.
The Government will lose by the Mer-
chants National Bank failure five hundred
forty-seven thousand dollars.
1t should be known that the Redemption
Division of the Treasury will receive pack
ages Of mutilated national currency in sums
amounting to over three dollars. SO many
packages of that sum are received that it is
thought people are of opinion that is the
limit. r. aes -5
The largest amount of revenue drawn
from the British people in one year never
exceeded $370,0OO,00o, while the amount
drawn the present year from the people of
the United States is at the rate of $3.50, OOO,-
600 per annum. a ...s r..q
The investigation now being made in
Washington into the affairs Of the Mereh-
ants National Bank, brings to light an addi-
tional loss to the Government, amounting to
$250,C00. This sum was deposited by the
disbursing clerk of the Treasury Depart
ment. There is said to be small prospects
Of the depositors realizing anything from
the wreck of the concern. Is8 81
The Internal Revenue Bureau, acting
under the general law, requires all citizens
of the South to render income returns for
the year 1864, as well as for 1865. Some
of the rebel officers residing in Alexandria,
Va, are startled by calls of assessors upon
them to furnish the required statements,
and are surprised that rations received by
them in the Confederate army are estimated
at forty cents per diem. One of them ex-
pressed his readiness to pay his tax in Con-
federate money, but this was of course de-
clined.
The Government has finally determined
to hold the gold claimed by the Richmond
banks as belonging to them. The proofs
seem to establish clearly that the gold be-
longed to the so-called Southern Confeder-
acy, and was in deposit with the banks,
subject to the drafts of the Confederacy.
The Comptroller of the Currency states
the actual receipts for the current fiscal
year to April 1st were $41O,O41, 1892, and
estimates the whole amount, to July 1st, at
$540,000,000, to which may be ad led $780,
100000 for income tax. Mr.. Clarke est
imates that next years revenue will not fall
below this years, and that, deducting ex-
penditures, as now estimated, there will be
a balance to the credit of the Government
of $A49, 100000 on the 30th of June, 1867.
The New York Evening Post publishes the
following calculations:
The saving of interest by the conversion
Of q six per cent debt into .one bearing only
five per cent. is simply one per cent. per an
mum. An easy calculation shows that the
amount of this on 100000, 900 would be
as follows:
In year.. .........................$ 10000, 900
in 20 years. ........................ 100000 900
In 40 Observation-Disclosures. 100000, 900
"If, however, the amount should be semi
annually set apart as a sinking fund, bear
ing compound interest at five per cent. per
annum, the following would be the result:
In 20 years the compound
interest would be............$ 284, 1893, 956
would be. 100000 900
Total .........................$ 4,793, $50
In 40 years the compound
interest would be............ 1,712, 943, 533
In 40 years the principal
would Observation-Disclosures. 100000
Total ,512, 943.4 33
In 363 years, compound in
terest and principal. ........ So, O5O, 557 200
g From this statement it appears that the
annual saving of interest, which would be
effected by change from six per cent. to