New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-07-03
Foreign Markets.


We copy this from the Washington Re
publican
An American gentleman about to visit
Europe has written TO the Treasury Depart
ment making inquiry as to the amount of
losses in the collection of the internal and
customs revenue; the losses sustained by
depOsitOrs in national banks, and the
amount of public money lost through de-
iaulting officials. A report on the subject
is embodied in the following letter of June
D. from Acting Secretary Richardson, ad-
dressed to the gentleman making the in
quiries:
In reply to your letter, have the honor
here with to enclose statements relative 60
defalcations and losses in the Bureau of In
ernal Revenue, of the Customs and of the
reasury, and also relative to losses to de.
TOsitOrs in the national banks.
From the accompanying statement of the
Commissioner of Internal Revenue, com
pairing the total receipts of his Office for the
three years from March 3, 1869, to March 3,
1872, with portions of the receipts that
have not yet been paid into the Treasury,
as per schedule inclOsed, it appears that the
cash balances outstanding against late col
lectOrs of internal revenue during that pc
Rod amount to somewhat less than one
tenth Of one per cent of the amount paid
into the Treasury. OF she latter amount it
will eventually be paid, either by the par
ties themselves or their sureties, reducing
the ultimate loss to the government during
the period mentioned to less than one ff-
tieth of one per cent of the amount col
lected. or less than two dollars in ten thou
sand.
According to the accompanying state
ment of the Commissioner OF Customs,
showing the amount of money collected
T., ba arsa cf
aud three-fOurths of a year from the first of
April, 1869, to the thirty-frst of December,
1871, compared with the balances Outstand-
ing against officers engaged in the cOllee-
ton Of customs during the period men
toned, the latter is about one-ffty-ffth of
Que per cent of the former.
The estimated ultimate loss to the gov
eminent is $4,000 out of $553,000, 900, or
1900 Of one per cent or something less
than IS in 500, 900,
The Controller of Currency furnishes a
of all the national banks that have
failed during the three years from June l,
1869 to June |, 1872, with their capital, the
amount of claims proved, and the dividends
paid on the claims, from which it appears
that the estimated average annual losses of
these years were from us 81 to $780,
098 4S, Of which the mean is $30,907 90
On the basis that the deposits constantly
average during the year 0I4,0UU,UOO, we
find the ratio of estimated annual loss to
creditors through the insolvency of national
banks to have been from thirty-eight mil
Iionths to seventy milliOnths of the constant
deposits, the mean being fifty-four mil
Iionths or one one hundred and eighty-sixths
Of one per cent of such deposits, equivalent
10 S. 81 n in 100000.
There is also inclosed statement fur
nished by the United States Treasurer,
showing the total amount of money entries
Is they appear on the books Of the treasury
Of the United States at Washington, cover
ng period of eleven and one-half years.
from the thirtieth ofJune, 1861, to the ninth
If January, 1872, to have been $50, l04, 232-
49, "a, and that the loss during these eleven
and one-half years was $55,057 As, the loss
being less than One-ten-thOusandth part of
)ne per cent, or less than 81 in $1,000, 600 of
money transactions.