SPECIAL REPORT.
CONFEDERATE STATES OF AMERICA,
Treasury Department,
Richmond, July 2Uth, 1861.
Sir :
I herewith submit, for the information of Congress, a
statement of the receipts and expenditures of the Govern¬
ment up to the date of the meeting of Congress, which will
be found in Schedule A.
The subscriptions to the Confederate Loan, authorized by
the act of Congress, approved February 28th, 1861, and the
amount of Treasury notes issued in accordance with the act
of Congress approved March 9th, 1861, are set forth in de¬
tail in Schedule B. To the subscriptions to the loan must
be added the conditional subscription of $600,000 from
South Carolina, making in the whole the sum of $9,667,950.
I also report that I have reduced the official force at each
of the Custom Houses from an expenditure of $443,930 04,
to an expenditure of $113,218 04, as per Schedule C. here¬
with. This reduction is made to suit the present exigencies
of the Government. Whenever trade shall be re-established,
the proper addition can be made to the existing force.
I have further to report that since the States of Virginia
and Tennessee have joined the Confederacy, I have discon¬
tinued the offices of the Collectors of the Customs at Norfolk,
on the Mississippi, Holly Springs, Hernando, Eastport, Cor¬
inth, Athens, Stevenson, Atlanta, Chester and Florence. The
internal trade has been so much interrupted since that time,
that it has not been deemed necessary to have any other
office open on the Northern frontier except Nashville.
In accordance with the resolution approved May 21st,
1861, making it the duty of the Secretary of the Treasury
to furnish five hundred printed copies of the Tariff Act for
the use of Congress, I herewith transmit the same. It will
be found, by reference to said Act, that some difficulty will
arise in its practical operation, from the fact that in several
instances the same articles are placed in different schedules,
thereby assessing a different rate of duty upon the same
articles of merchandize. For instance, in Schedule C,
upon all articles enumerated in said schedule, is assessed a
duty of fifteen per centum ad valorem; on page 5 " carbonate
of soda" is enumerated, on page 11 in Schedule D, which
3
pays a duty of ten per centum " carbonates of soda" are
enumerated. On page 8 in Schedule C, " paving and roofing
tiles and bricks and roofing slates and fire bricks " are classed.
In Schedule I), on page 10, "clay burnt or unburnt, bricks,
paving and roofing tiles " is the language used. In Schedule
D, on page 11, "lac sulphur" and "sulphur flour of" are
enumerated. In Schedule G, which exempts all articles
therein classed from duty, " gun powder and all the materials
of which it is made " are enumerated. In Schedule D, on
page 11, terra, japonica, catechu" are subjected to the duty
of that schedule. In Schedule E, paying a duty of five
per centum ad valorem the article " cutch " is classed. Terra,
japonica catechu and cutch, are commercial names designa¬
ting one and the same article of merchandize. On page 7,
in the designation of the various kinds of iron, there is
none that will include sheet iron, and hence it must be
classed among the non-enumerated articles, which class pay
a duty of ten per centum ad valorem. Under the tariff of
1857, which is now in operation, with the exceptions made
by the Congress of the Confederate States, after the word
" slabs," is the expression, " or other form," which includes
sheet iron. If it was the intention of Congress that the
duty on the various kinds of iron should be uniform, it will
be necessary to alter the late act in accordance therewith.
The attention of Congress is called to these discrepancies
that the proper remedy may be applied at an early day of
their session, and before the act referred to shall go into
operation. The same resolution makes it the duty of the
Secretary of the Treasury to have five hundred copies of a
comparative statement of the rates of duty, under the Uni¬
ted States Tariff of 1857, the Confederate States Tariff just
established, and the United States Tariff now of force,
printed; I have to report that this statement is now in the
hands of the printer and will be submitted to Congress at
an early day.
Since the adjournment of Congress, measures have been
taken to bring forward the remainder of the loan of fifteen
millions, and also the loan of the proceeds of produce.
Patriotic gentlemen have presented the subject to the peo¬
ple, and they have responded with a spirit indicating their
determination to support the Government. The subscrip¬
tion lists not having yet come in, I am unable to report the
aggregate amount; but presume that it will not fall short of
fifty millions of dollars in value. This large amount may,
3
therefore, he counted upon with certainty during the winter
and spring, if sales of the produce can be effected.
The dimensions of the Avar have been so much enlarged since
your adjournment that these additional means for carrying it
on become essential. Sales of produce cannot, liOAvever, be
made in time to make available the proceeds of crops as early as
may be desirable, and the necessity arises for an increase of
Treasury Notes. If the crop subscriptions Avere set apart
as a security for such notes, they might be issued in advance
of the sales, and the Government would derive the full
benefit of the subscription even though the sales should be
indefinitely delayed. The notes, too, would be circulated
with confidence; for, besides the credit of the Government,
they would rest upon a basis of real value which is second
only to coin itself.
I would renew the suggestion made in a former report
that to remove all danger to the currency, the larger notes
be made to bear an interest of 2 cents per day on each hun¬
dred dollars. I think that in this Avay a large amount Avould
be retired from the circulation leaving the field clear for the
banks and for the circulation of smaller Treasury Notes.
The apprehension of danger to the currency does not
appear to be well founded. Taking an average of six
years, up to 1858 the circulation and deposites in the banks
of the eight Confederate States Avhere banks exist, was about
eighty-five millions, Avith eighteen and a half millions of
coin. It Avould be not unreasonable, therefore, to assume
that at present a circulation could be sustained of one hun¬
dred millions. It also appears that there are at least two
hundred millions of dollars of money iioav at interest in the
Confederate States outside of the banks; the bank capital
itself being a litte short of eighty-five millions.
A very large portion of the interest-bearing Treasury
Notes would eventually find its Avay as a substitute for this
money at interest. The facility Avhich it offers of being
used as money Avliile every day adds to its value, will tempt
every one to prefer it to a bank note or a bond. It seems
to me that it would not be rash to affirm that between these
tAvo modes of absorption one hundred and fifty millions of
credit may be used with safety.
IIoav large a proportion of this amount will be required,
I am not able to say, inasmuch as the additional estimates of
the War Department have not yet been prepared. But it is
highly satisfactory to knoAv that avg are prepared Avith
4
means to meet the worst contingency. It must be borne in
mind, however, that an essential part of our financial
scheme is the levying a direct tax. The Treasury Notes
and bonds authorized by the laws already passed are based
upon the declaration of Congress that such a tax would be
raised. The increase of the proportions of other things
call for a corresponding increase in this tax. In order to
make proper provision on that subject, Congress directed me
to lay before it certain information, which I have endeavored
to obtain and which will more appropriately form the subject
of another report.
All of which is respectfully submitted.
C. G. MEMMINGER,
Secretary of the Treasury.
Hon. Howell Cobb, President of Congress.
o
[SCHEDULE A.]
'Statement of the Receipts and Expenditures of the Confederate
States from the organization of the Government to July 19,
1861, inclusive, agreeably to warrants issued.
receipts.
From customs, 700,045 81
From miscellaneous sources, 852,901 90
From Treasury Notes, 1,135,900 00
From loan of February 28th, 1861, 8,920,232 64
From interest on loan, 2,339 80
From premium on loan, 136 39
$11,611,556 54
expenditures.
Civil, - 175,075 52
Miscellaneous, including customs, 214,834 01
Foreign intercourse, 82,500 00
Public debt, 110,927 84
War, 10,271,635 94
Navy, 950,984 37
$11,805,957 68
Confederate States of America, 1
Treasury Department, >
Register's Office, July 20, '61.)
ALEX. B. CLITHERALL,
Register.
Note.—The apparent discrepancy between the Treasurer's ac¬
count of receipts from the Loan of February 28, 1861, and the
amount of said loan issued, and to be issued, as appears in the
statement relating thereto, is explained by the Treasurer having
as yet no official information that the difference in the amounts
4ias been deposited to his credit.
6
[SCHEDULE B.]
Statement exhibiting the amount of Coupon Bands and Trans¬
ferable Stock issued to July 19, 1861, inclusive, under the
Act of February 28, 1861, entitled "An Act to raise money
for the support of the Government, and to provide for the
defence of the Confederate States of America.
States.
Coupon
Bonds.
Trans. 1 Aggreg'te
Stock. |
Alabama,
Florida,
Georgia,
Louisiana,
Mississippi,
North Carolina,
South Carolina,
Texas,
691,650
65,350
1,390,350
3,265,150
120,750
23,200
298,100
335,600
49,300
10,000
2,600
12,000
1,617,000
1,000
402,550
740,950
65,350
1,400,350
3,265,150
123,350
35,200
1,915,100
1,000
738,250
Virginia,
Issued
To he issued, viz:
Alabama,
North Carolina,
South Carolina,
Virginia,
$6,190,150
1,250
5,500
87,250
70,600
$2,094,550
135,650
483,000
$8,284,700
1,250
5,500
222,900
553,600
$6,354,750
$2,713,200
$9,067,950
Confederate States of America, 1
Treasury Department, >
Register's Office, July 20, '61.)
ALEX. B. CLITHERALL, Register.
Statement exhibiting the amount of Treasury Notes issued under
the Act of March 9, 1861, entitled "An Act to authorize
the issue of Treasury Notes, and to prescribe the punishment
for forging the same, and for forging Certificates of Stock,
Bonds, or Coupons, the amount redeemed, and the amount in
circulation.
Total amount issued to date, $1,135,900
Redeemed per records of this Office 76,400
In Auditor's Office, for settlement, 12,150
In Secretary's Office, for settlement, 2,200
On deposit with Assistant Treasurers and
Depository, 50,000 140,750
In circulation, $995,150
Confederate States of America, i
Treasury Department, V
Register's Office, July 20, '61.)
ALEX. B. CLITHERALL, Register.
[SCHEDULE C.J
Comparative Statement, exhibiting the amounts paid to the Offi¬
cers of the several Custom Houses, in the C, S. A.
22d February, 1861, and on the 1st July, 1861.
on
the
Districts.
Charleston, S. C
Beaufort, "
Georgetown, "
Savannah, Ga.,
Brunswick, "
St. Mary's, "
Augusta, ci ■_
Pensacola, Florida,
St. Augustine, "
Key West, "
St. Marks, "
St. Johns, "
Fernandina, "
Bay Port, "
Pilatlca, "
Selma, Alabama,
Tuscumbia, "
Pearl River, Mississippi,..
Natchez, "
Vicksburg, "
Apalachicola, Fla
Mobile, Ala
New Orleans, La
Texas, Texas
Saluria, "
B. de Santiago, Tex
Teche, La
No
46
1
2
25
2
1
1
4
3
5
9
3
2
1
1
1
1
2
1
1
6
26
239
9
10
22
426
Compensation
Per Annum.
$ 54,970 50
338 82
675 00
25,979 68
654 64
335 78
350 00
3,413 72
1,470 00
4,754 45
3,525 60
2,228 00
3,280 00
350 00
350 00
363 52
350 00
796 50
500 00
1,000 00
5,962 00
30,970 68
260,734 00
10,035 00
8,105 00
20,300 00
2,137 15
Grand
Total.
$443,930 04
[SCHEDULE C.]—Continued.
Districts.
No.
Compensation
Per Annum.
Grand
TOTAL.
Charleston, S. C
Beaufort, "
Georgetown, "
Savannah, Ga
Brunswick "
Apalachicola, Florida
Fernandina, "
St. Johns, "
Pensacola, "
St. Augustine, "
Mobile, Ala
New Orleans, La
Teche, "
Yicksburg,Mississippi
Br. de Santiago, Texas
Saluria, "
Wilmington, N. C
Ocracoke "
Beaufort, "
Portsmouth and Norfolk, Ya.
Richmond, "
Nashville, Tenn
§15,803 50
338 82
550 00
9,715 80
406 64
3,707 00
500 00
500 00
1,718 72
500 00
15,575 00
47,502 50
500 00
1,000 00
5,350 00
500 00
1,200 00
1,000 00
350 00
2,500 00
3,000 00
1,000 00
§113,218 04
106
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