New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-12-06

states the following report;
since the last annual report niue national banks have
beer organized OF which associations, and
three were organized to take the place OF existing sate
banks making tho total number organized 10 October,
one thousand SIX hundred and seyentJ-thlee
Here follows table exhibiting the huhuer OF pahAs,
with the amount OF capital and circulation ia eaeh state
ANU To III oreyaniied' ..s..i.......... 1873
Total closing or closed .................. "a
Total IN operation. ...................... ~ l'6Sy
Total capital paid si24S9tstl
TOTAL u0uds on deposit. ti0t5tO
Total circulation Issued s3t3sosgl
Total Ina actual circulation S2Jg, lU5,E0
From tic number ui banks organized heretofore stated
to 33 should be deducted So leaving the number IN
active operation l.c5g .,,..,
In tho Summer 1864 Il asccrtained that packages
Of notc forwarded certain Western banks were each
found ho short ~ the required amount by one impress
sion IA sheet containing four notes.. This happened a IN
teryAls Tor several months Then, for nearly year no
losses occurred But In the Fall OF 1865, impressions
began 10 be missed from the packages Of notes IN the
counting of the Office and IN December package
containing $500 In fifty and one hundred dollar notes OF
the National city Bank OF lynn, Mass, was missed From
this time there cessation In the thetts until ABOUT
tie Let Of May Last when package containing sgVO III
nles and hundreds of the First National Bank Oh Jersey
Ciy, ~ j., was stolen, - -, -. L..
At each Of the periods when these frauds took place
instituted and dligent efforts were
made TO discover the perpetrators but without success
The last robbery was discovered almost Immediately upon
ITS taking place, aud vigorous measures were at once
taken detect and bring the guilty party TO Justice
There Is reason 20 believe the effort not unsucceSsin
as man who had been employed In the countlngr0om
from the time " It's first organization, IN confidential
proper authorities held under bonds until the session
Of the Grand Jury OF the District AS this has not yet
deemed eXpedient to enter into details at present
tho whole matter Is IN fair way ~ be Investigated by
Wv BANK FAILURES
Since the organization Of the first national hank, which
occurred June 40 1868, up to Oct 1861 period OF four
years and three months, ten national banking assoea
Their S aggregate capital is s,87OOOO 90
Their aggregate liabilities to the public are :.
Deposits and other liabilities 10 he pajc 55i5SS %
=. - - =
The circulation win be paid in FUN so that the public
will suffer loss from that SOURCE and tho bonds depos
plus OF soue $4,000 that could be applied to the payment
OF general creditors careful estimate or the assets
leads tu the conclusion that they Will realize sum SUI,
cent to pay 70 per cent 70 creditors, leaving the total
ultimate loss sustained by thepubc through theT
Tho national banks are not exempt from the disasters
which are common 70 all banking institutions and Dusl-
corporations No system OF banking however per
feet protect the stockholders the deposors from
sudden loss neither can the most stringent egSih.Ih
the greatest degree OF wntChfulness ana care on ne
part OF TINS once prevent violations OF law ana nok9'
Of the Fundamental principles OF good banking Ear oc
cured may IN every Instance be directly traced to the
dishonesty nconpetency OF bank officials, ana the
nns Which Ssy Of Ss IN
State banks with capital impaired by BAD DEBTS naEe
bcrutDy into their affairs ana such failures must De at
tribued TO the old, rather than the new, IN state
officers Of these banks prejudiced IN iaVOr OF
system OF banking and are not yet accustomed 10 wy
more stringent provisions OF the natonal currency avi
Such institutions will bo liable TO failure until helr cn
tai is restored by assessments OF they forced INTO
voluntary liquidation. ,, A..
Yet notwithstanding these things II the failure OF ten
banks among tho lG73 national banks OF the Union during
the past four years mad been three times greaer tasy
would sti Ia tba aggregate not equal In magnitude the
recent failure the Royal Bank NJ Liverpool OF the Com
mercial Bank OF Canada, institutions Mhlch were sup.
posed to be conducted upon the most approved system o
English banking.
EEDEMPrfONs.
10 is important 10 establish IA early az practicable
system of redcmpons which shall be COMPREHENSIVE and
thorough. The circulating notes OF national banks arc
secured 10y the pledge of United States bonds Their NJ
Innate redemption Is established beyond question II