No. 7.-SUMMARY STATEMENT. Supplemental estimates of appropriations required for the naval service to meet deficiencies in the appropriations for the fiscal year ending Tune 30, 1861, and for the fiscal year ending June 30, 1862. Containing estimates of the public revenue and public expenditures, and plans for improving and increasing the revenue. JULY 5, 1861.-Read and ordered to be printed. TREASURY DEPARTMENT, July 4, 1861. SIR: The Secretary of the Treasury is required by law to prepare and lay before Congress, at the commencement of every session, a report on the subject of finance, containing estimates of the public revenue and public expenditures, and plans for improving and increasing the revenue. This duty, always important and responsible, is now rendered doubly important and responsible by the peculiar circumstances under which the present session of Congress is held. A vast conspiracy against the union of the States, and the very existence of the national government, which has been gathering strength and preparing hostilities in secret for many years, has at length broken out into flagrant violence, and has assumed proportions. so serious that an extraordinary exertion of the public force, creating extraordinary demands upon the public resources, is required for its speedy and complete discomfiture and suppression. In the judgment of the Secretary, the clearest understanding of the actual condition of the public finances, and of the measures demanded by its exigencies, will be obtained by considering the whole subject under the following general heads: I. The balance arising from the receipts and expenditures of the fiscal year 1861, ending on the 30th of June. II. The demands upon the treasury, arising under existing appropriations or created by the new exigencies for which provision is to be made during the fiscal year 1862. III. The best ways of providing for these demands and the means available for that purpose. I. RECEIPTS AND EXPENDITURES. The balance in the treasury on June 30, 1860, as shown by the last annual report to Congress, was The receipts for the year ending June 30, 1861, have been: From customs: 1st quarter $3,629,206 71 $16,119,831 22 2d quarter 8,174,167 69 3d quarter 9,772,574 57 4th quarter (in part estimated) 5,527,246 33 Aggregate 39,593,819 81 Of this amount the sum of $35,417,102 11 has been received in coin, and $4,176,717 70 in treasury |