instalment, after the first, all the subsequent instalments; but interest will in such case be allowed only as if each instalment had been paid on the day fixed in the public notification of the 30th of August. You will be pleased, on receipt of this letter, to state to me the bank or banks in which the money will be paid; and if more than one, the precise sum payable at each; and on or before the 15th of October, will furnish the cashier or cashiers of such bank or banks with the names of the persons in whose behalf your proposal has been made, and the sums payable by each. The commission of one-eighth per cent. will be paid from the Treasury, after the payment of the first instalment on the 15th of October next. I am, respectfully, sir, Your obedient servant, W. JONES, Acting Secretary of the Treasury. JONATHAN SMITH, Esq., Philadelphia. REPORT ON THE FINANCES. DECEMBER, 1814. The Secretary of the Treasury, in obedience to the act "supplementary to the act entitled an act to establish the Treasury Department," has the honor respectfully to submit to Congress the following report and estimates. The sums authorized by Congress to be expended during the year 1814, and for which appropriations have been made, are as follows: 1. For civil, diplomatic, and miscellane ous expenses $2,245,355 59 To this sum is to be added the amount which may be payable on the following accounts, viz: 1. The amount of fines, penalties, and forfeitures actually received into the Treasury, which is appropriated for defraying the expenses of courts of the United States. 2. The sums received by the collectors of the customs for the marine hospital fund and privateer pension fund, which are paid into the Treasury with the other moneys derived from the customs, but are exclusively applicable to the two objects here mentioned, respectively. 3. The moneys received into the Treasury for the United States' moiety of prizes captured by public vessels, which belong exclusively to the navy pension fund. These items are contingent and uncertain, until the accounts for the year are made up, and their amount ascertained. they appear among the receipts into the Treasury, they must also be placed among its expenditures. They may be estimated for the year 1814 at As 200,000 00 2. Military expenses, including the Indian department, and the permanent appropriation of 200,000 dollars annually, for arming and equipping the whole body of the militia of the United States 3. Naval expenses, including 200,000 dollars for the purchase of timber, appropriated by the act of March 30, 1812 4. For the public debt, such sum as the public engagements may require; and which, during the year 1814, may be estimated as follows: Interest on the public debt existing previously to the pre $1,980,000 00 2,950,000 00 7,572,000 00 12,502,000 00 350,000 00 12,152,000 00 $47,270,172 46 The means by which this sum was to be provided were the following: 1. Moneys receivable on account of the public revenue, and which were 2. Moneys receivable for the proceeds of loans, and for Treasury notes to be issued, as follows: Amount payable into the Treasury during the year 1814, of the loan of seven and a half millions, made under the act of August 2, 1813 Amount authorized to be borrowed by the act of March 24, 1814 Amount authorized by the act of March 4, 1814, to be issued in Treasury notes $3,592,665 00 25,000,000 00 5,000,000 00 And it was estimated that out of the balance of cash remaining in the Treasury on the 1st day of January, 1814, which amounted to $5,196,482, there might be applied a sum sufficient to cover the whole amount of the authorized expenditures, and which would be 33,592,665 00 2,727,507 46 $47,270,172 46 The accounts of the Treasury have as yet been made up only for the first two quarters of the year 1814, or to the 30th of June, of that year. The annexed statement, marked A, shows the receipts and expenditures at the Treasury for the fourth quarter of the year 1813, which have not before been communicated to Congress, and, separately, those of the first two quarters of the year 1814. By this statement, it appears that the payments from the Treasury, during the first half of the present year, have been For civil, diplomatic, and miscellaneous expenses For naval expenses For public debt And would leave payable during the remainder of the year, on those several accounts, the following sums: For civil, diplomatic, and miscellaneous ex $1,444,062 60 11,210,238 00 4,012,899 90 3,026,580 77 19,693,781 27 $1,001,292 99 13,292,668 00 4,157,010 97 9,125,419 23 27,576,391 19 $47,270,172 46 The receipts into the Treasury, during the first half of the present year, have been as follows: For the proceeds of the customs For public lands, (including those in the Mississippi Territory, the proceeds of which are now payable to the State of Georgia) For internal duties and direct tax For postage and incidental receipts $4,182,088 25 540,065 68 2,189,272 40 166,744 00 7,078,170 33 $3,592,665 00 millions,) under the act of March 24, 1814 6,087,011 00 And there remained cash in the Treasury, on the 1st of July, 1814 · 4,722,639 32 23,942,585 65 To make up the sum, therefore, which will be wanted to meet the expenditures as above estimated, there must be obtained, during the third and fourth quarters of the present year $23,327,586 81 $47,270,172 46 And the further sum of $1,500,000, which is the least that ought at any tiine, during a state of war, to be left in the Treasury, making " $24,827,586 $1 Of this amount, it is estimated that there will be derived from the various sources of existing revenue the following sums, viz: From the customs It has not been practicable to prepare the statements of this and of the other branches of the revenue in the usual official form, to be communicated to Congress at this time. Some of these statements have been heretofore regularly given for periods terminating on the 30th of September; and, to preserve the series unimpaired, their preparation is postponed until they can be made out terminating with that day. They will hereafter be laid before Congress in the proper form. The amount of the custom-house duties which accrued during the year 1813 was $7,070,000. During the first two quarters of the present year, they amounted to about $3,000,000; but, during the last two quarters, will not probably exceed one million. The amount receivable into the Treasury during the year 1814, from bonds outstanding at the commencement of the year, and from the duties accruing, and which will become payable during that year, is estimated at $7,000,000; which is $500,000 more than was heretofore estimated. Of this sum, $4,182,088 25 was paid during the first half of the year, and will leave, payable during the remainder of the year, the sum here stated. Sales of public lands.-The proceeds of the public lands sold in the Mississippi Territory, which are now payable to the State of Georgia, are brought into the Treasury in the same manner as the moneys derived from the sales of other public lands. As the amount, when paid out of the Treasury to the State of Georgia, appears among the public expenditures, it is proper that these moneys should be placed among the receipts of the Treasury. Including the proceeds of the lands in the Mississippi Territory, the receipts during the year 1814 are estimated at $900,000; of which, $540,065 68 having been received during the first two quarters of the year: there will be receivable during the last two quarters. Internal duties and direct tax.-The receipts into the Treasury from these sources, during the present year, will fully equal the estimate heretofore made. These taxes are paid readily and cheerfully. The direct tax is in collec $2,820,000 00 360,000 00 |
