the parties wish to obtain, and the price they will allow for the same. Unless a different modification should be asked in the proposal, it will be understood that the amount loaned will be paid into the Treasury in four equal instalments, viz: on the 15th days of April, June, August, and October next; and that the stock issued will be irredeemable till the 31st day of December, 1825. If proposals shall be made, amounting together to a greater sum than that required, the preference will, on equal terms, be given to stockholders of the six per cent. stock of 1812. If any proposals differing in terms from one another, or from those on which subscriptions have already, or may be made prior to the 1st day of April next, should be accepted, all the parties, including those who have already subscribed, or may subscribe prior to the 1st day of April next, shall be placed on the same footing, by giving to all the option either of the terms offered by them, or on which they have subscribed, or of those offered by any other persons, and which shall have been accepted. No proposal will be received for a sum less than one hundred thousand dollars. But a commission of one-quarter per cent. will be allowed to any person collecting subscriptions for the purpose of incorporating them in one proposal, to the amount of one hundred thousand dollars or upwards, provided that such proposal shall be accepted. All the proposals must be transmitted by duplicates; one directed to the city of Washington, and the other (under cover of the cashier of the Bank of Pennsylvania,) to Philadelphia. ALBERT GALLATIN, Secretary of the Treasury. B 3. UNITED STATES LOAN. TREASURY DEPARTMENT, April 15, 1813. Those persons who have subscribed to the United States loan of sixteen millions of dollars, prior to the 1st day of the present month of April, are hereby notified, that terms different from those under which they made their subscriptions have been aliowed to the persons who have taken the remainder of the said loan of sixteen millions; and that, conformably to the public notification from this department, of the 18th of March last, those who subscribed prior to the 1st of April have the privilege of taking the terms thus subsequently allowed; and which terms are as follows, viz: 1st. That the subscriber shall receive a six per cent. stock, the interest payable quarter-yearly, redeemable at the pleasure of the United States, at any time after the end of the year 1825, at the rate of eighty-eight per cent.; or 100 dollars in stock for 88 dollars in money. Or, 2d. That the subscriber, for every hundred dollars in money shall receive one hundred dollars in the same species of six per cent. stock, and an annuity for thirteen years, from the 1st day of January last, of one dollar and fifty cents, payable quarter-yearly. The subscribers who may wish to avail themselves of these terms will present their scrip-certificates to the cashier of the bank by whom they were issued, and will express, in writing, on the face of the same, which of the above terms they will elect to accept, and will receive from the cashier VOL. 1.-32 [1813. new scrip-certificates conformably thereto; the payments upon which, and funding whereof, are to be effected in the same manner as before. Such subscribers as have already completed their payments, and obtained certificates of funded stock and annuities on the terms originally proposed, are to surrender the same to the commissioner of loans, or to the Register of the Treasury, by whom they were issued, expressing their election in the same manner; and will receive from him certificates of funded stock, and of annuities, (as the case may be,) in conformity with the election they may thus make. ALBERT GALLATIN, C. Secretary of the Treasury. View of the sinking fund, for the year 1813. The balance belonging to this fund, remaining unapplied on the 31st December, 1812, (per report of commissioners to Congress, of February 6, 1813,) was The annual appropriation for the year 1813 Making togethe: There was applied, during the first quarter of the year 1813 $3,550,369 11 8,000,000 00 11,550,369 11 1,036,868 28 Leaving to be applied, in the last three quarters of that year $10,513,500 83 The manner in which the amount will be applied in the year 1813 is as follows: Interest and reimbursement of old six per cent. and de ferred stocks estimated at Interest on exchanged six per cent. stock of 1812 $2,160,000 00 180,000 00 Interest on three per cent. stock 485,000 00 Interest on 1796 six per cent. stock 5,000 00 Interest on Louisiana stock, and charges 680,000 00 Interest on six per cent. stock of 1812, including temporary bank loans and some arrearages 700,000 00 Interest on new stock of 1813 470,000 00 Principal of temporary loans reimbursable in 1813 Treasury notes, including those payable on the 1st and 11th January, 1814, which must be provided for by the 31st December, 1813 There was paid on account of the above, in the 1st quarter of 1813 Leaving payable in the last three quarters of that year, say 9,000,000 00 And will leave to be applied to the purchase of stock, or to be carried to the sinking fund, for the year 1814 1,513,500 83 $10,513,500 83 REPORT ON THE FINANCES. DECEMBER, 1813. In obedience to the directions of the "Act supplementary to the act entitled 'An act to establish the Treasury Department,'" the acting Secretary of the Treasury respectfully submits the following report and estimates: The moneys actually received into the Treasury during the year ending on the 30th September, 1813, have amounted to $37,544,954 93 Viz: Proceeds of the customs, sales of lands, small branch - $13,568,042 43 5,151,300 00 23,976,912 50 37,544,954 93 As will appear by the annexed statement E, Making, together with the balance in the Treasury on the 1st of October, 1812, which was An aggregate of The payments from the Treasury, during the same period, have amounted to 2,362,652 69 $39,907,607 62 Viz: For civil, diplomatic, and miscellaneous expenses, both foreign and domestic $1,705,916 35 Military department, including militia and volunteers, and the Indian department Navy, including the building of new ships, and the marine corps Public debt: On account of interest Principal reimbursed - $3,120,379 08 6,317,481 15 32,928,855 19 As will also appear by the annexed statem't E, $32,928,855 19 And left in the Treasury, on the 30th of September last The accounts for the fourth quarter of the year 1813 have not yet been made up at the Treasury; but the receipts and expenditures, during that quarter, have been nearly as follows: Receipts from the customs, sales of lands, and small branches of the revenue, about Loan of sixteen millions Loan of seven and a half millions $3,300,000 00 1,500,000 00 3,850.000 00 Treasury notes 3,680,000 00 12,330,000 00 Making, with the balance in the Treasury on the 1st of October, 1813, of An aggregate of about The disbursements have been, for civil, diplomatic, and miscellaneous expenses, about 6,978,752 43 $19,309,000 00 $400,000 00 Military department 5,887,747 00 Naval department 1,248,145 10 Public debt, (of which near $6,000,000 was on account of the reimbursement of principal) 7,087,994 95 And leaving in the Treasury, on the 31st Dec. 1813, about 4,685,112 95 $19,309,000 00 Of the sums obtained on loan during the year 1813, and included in the receipts above stated, an account of the terms on which they were made has been laid before Congress, excepting as to the Treasury notes issued under the act of February 25, 1813, and the loan of seven and a half millions obtained under the authority contained in the act of the 2d of August, 1813. The annexed statement, marked F, will show the whole amount received for Treasury notes during the year 1813, and at what places they were sold or disposed of. Three million eight hundred and sixty-five thousand one hundred dollars, of the notes issued under the act of June 30th, 1812, became due in the course of the year 1813, or in the present month of January, and have been paid off, or the funds placed in the hands of the commissioners of loans for that purpose. The papers under the letter G will show the measures taken under the act of August 2d, 1813, authorizing a loan of seven million five hundred thousand dollars, and the manner in which that loan was obtained. The terms were eighty-eight dollars and twenty-five cents in money for one hundred dollars in stock, bearing an interest of six per cent.; which is equiv alent to a premium of thirteen dollars thirty-one cents and four-ninths of a cent on each hundred dollars in money loaned to the United States. Of this sum of 7,500,000 dollars, about 3,850,000 dollars was paid into the Treasury during the year 1813, and the remainder is payable in the months of January and February, 1814. For the year 1814, the expenditures, as now authorized by law, are es timated as follows: 1. Civil, diplomatic, and miscellaneous expenses 2. Public debt, viz: Interest on the debt existing previous to the war $2,100,000 $1,700,000 Interest on debt contracted since the war, in cluding Treasury notes, and loan for the year 1814 $2,950,000 Reimbursement of principal, including the old six per cent. and deferred stocks, temporary loans, and Treasury notes 5,050,000 - 7,150,000 3. Military establishment, estimated by the Secretary of War for a full complement (including rangers, sea fencibles, and troops of all descriptions) of 63,422 officers and men, and including ordnance, fortifications, and the Indian department, and the permanent appropriations for Indian treaties, and for arming and equipping the militia 4. Navy, estimated for 15,787 officers, seamen, and boys, and for 1,869 marines, and including the service of two 74 gun ships for four months, and three additional frigates for six months of the year 1814, and the expenses of flotillas on the coast and on the lakes $12,200,000 24,55 0 6,900,000 $45,350,000 The ways and means already provided by law are as follows: 1. Customs and sales of public lands. The nett revenue accruing from the customs during the year 1812 amounted, as will appear by the annexed statements A and B, to 13,142,000 dollars. Of this sum, about 4,300,000 dollars was produced by the additional duties imposed by the act of July 1, 1812. The duties which have accrued during the year 1813 are estimated at 7,000,000 dollars. The custom-house bonds outstanding on the 1st January, 1814, after making a due allowance for insolvencies and bad debts, are estimated at 5,500,000 dollars; and it is believed that 6,000,000 dollars may be estimated for the receipt of the customs during the year 1814. The sales of public lands, during the year ending September 30, 1813, have amounted to 256,345 acres, and the payments by purchasers to 706,000 dollars, as will appear by the annexed statement C. It is estimated that 600,000 dollars will be received into the Treasury from this source, during the year 1814. The sum, therefore, estimated as receivable from customs and lands, is $6,600,000 2. Internal revenues and direct tax. From the credits allowed by law on some of the internal duties, and from the delays incident to the assessment and collection of the direct tax, it is not believed that more ought to be expected to come into the Treasury, during the year 1814, than the sum of 3,500,000 3. Balance of the loan of seven and a half millions already contracted for 3,650,000 1,070,000 4. Balance of Treasury notes already authorized 5. Of the balance of cash in the Treasury, on the 31st December, 1813, amounting, as above stated, to about $1,680,000 There will be required to satisfy appropriations made prior to that day, and then undrawn, at least 3,500,000 |
