But the revenue which has actually acrrued during the year is estimated, as already stated, at 38,650,000 00 - $13,050.000 00 Making an aggregate excess, beyond the estimate of the last year, of Which excess has arisen, principally, in the customs. By the same report, the money receivable into the Treasury during the year 1816, arising, principally, from revenue which accrued during the year 1815, was estimated at Viz:-Customs Direct tax Internal duties Public lands *Postage, and incidental receipts $21,000,000 00 6,000,000 00 1,000,000 00 400,000 00 33,400,000 00 $33,400,000 00 But the actual receipts into the Treasury during the year, from those sources of revenue, are estimated at Leaving an excess of receipts beyond the estimate, of 49,600,000 00 $13,500,000 00 The actual excess in the customs, beyond the estimate of 1815, being And an excess in public lands of Making, as before stated, the whole excess - $15,000,000 00 2,000,000 00 13,000,000 00 500,000 00 $13,500,000 00 The comparative statements just presented prove the extreme difficulty there was, in 1815, of making any estimate upon which reliance could be placed. The excessive importations of foreign merchandise, during the past and present year, have, but in a slight degree, diminished that difficulty. The revenue which accrued from imports and tonnage during the three first quarters of the year 1816, have averaged $9,000,000 a quarter; while that which will have accrued during the last quarter is estimated at not more than one-third of that sum. As the redundancy of foreign merchandise in the country, which has produced this extraordinary reduction of duties in the fourth quarter of the year, will continue to influence the importations of the year 1817, the revenue accruing from that source, during the year, probably cannot be safely estimated above $12,000,000. We must look, therefore, to the revenue accruing in the year 1818 as the average revenue arising from duties and taxes of a permanent character, by which the permanent expenditure of the Government should be regulated. From the facts in the possession of the Department, the revenue which will accrue during the year is estimated as follows, viz: In the year 1819, the first instalment of the bonus, payable to the Bank of the During the same year it is believed that the claim of the State of Georgia will be Making the revenue for the year 1820 amount to Which may be estimated as the permanent annual revenue after that period. $22,250,000 00 500,000 00 1,500,000 00 $24,250,000 00 State of the Finances. But the receipts into the Treasury, during the year 1817, are estimated as follows, viz: $24,000.000 00 To which add the balance in the Treasury on the 1st day of that year 10,000,000 00 隆 Total ways and means for 1817 40,650,000 00 The expenditure for that year, as before stated, including the proposed addition to the 25,000,000 00 Leaving a balance in the Treasury on the 1st day of January, 1818, of $15,650,000 00 The permanent expenditure, including the proposed addition to the Sinking Fund, has been estimated at $31,900,000 00 23,500,000 00 Leaving in the Treasury, on the 1st day of January, 1820, a balance of ed After which period, the permanent revenue, as before stated, is estimated to exceed the permanent expenditure, taken as the basis of this report, by the annual amount of Making an excesss of revenue beyond the estimated expenditure during the next four years, of 7,650,000 00 750,000 00 $8,400,000 00 Applicable to such objects of internal improvement or national defence as the wisdom of Congress may direct. All which is respectfully submitted. WM. H. CRAWFORD, Sec'ry of the Treasury. A. Statement exhibiting the amount of duties which accrued on merchandise, tonnage, passports, and clearances of debentures issued on the exportation of foreign merchandise, and of expenses of collection, during the year 1815. State of the Finances. B. Statement of the funded debt of the United States, and of temporary loans, on the 1st of Jan'y, 1816. Funded debt, exclusive of the sum passed to the credit of the Sinking Fund: Six per cent. stock Three per cent. stock Deferred stock Louisiana stock $17,250,871 41 9,358,320 34 10,923,500 00 80,000 00 2,984,746 72 56,755,619 26 65,954,434 29 -$122,700,053 55 Seven per cent. stock of small Treasury notes funded Temporary loans 1,075,000 00(a) $123,775,053 55 Nominal amount of the funded debt and temporary loans, 1st January, 1816 $123,775,153 55 Deduct reimbursement of the old six per cent. and deferred stocks to the 31st December, 1815, per Treasury settlements From this sum deduct reimbursement paid, or stock subsequently transferred to the sinking fund $28,748 02 And the difference between the nominal amount of six per cent. and deferred stock exchanged, and the amount of exchanged stock issued in lieu thereof The following sums are in the Treasury books, passed to the credit of this fund: (b) This is the aggregate of the several annual settlements predicated on the quarter-yearly dividends payable from 1st January, 1796, inclusive, and, after making the deductions herein stated, will, on the full payment of the old six per cent. and deferred stocks, accord with their present nominal amount. $19,616,127 02 $1,566,123 16 1,800,000 00 -$3,366,123 16 -$16,250,003 86 $105,360,341, 06 Deduct reimbursements of old 6 per cent. and deferred stocks in the year 1815 And temporary loans paid off (d) Nominal amount, including Sinking Fund, 1st January, 1815 Additions in 1815, including temporary loans As above $139,832,390 51 17,816,127 02 $157,648,517 53 JOSEPH NOURSE, Register. TREASURY DEPARTMENT, REGISTER'S OFFICE, December 10, 1816. State of the Finances. C. Estimate of the funded debt of the United States, and of the temporary loans, on the 1st Oct., 1816, Six per cent. stock, Treasury notes per 25th February, 1815, funded 18,109,387 43 15,954 619 85 8,379,595 00 Temporary Loans. 71,201,551 28 $127,957,170 54 Due Cumberland Bank, Maine Nominal amount of funded debt and temporary loans, 1st October, 1816 $24,341,g90 68 50,000 00 $128,007,170 54 The following sums are, in the Treasury books, passed to the credit of this fund: Foreign Debt. $128,007,170 54 |