3 3 

 
 SECRETARY OF THE TREASURY 
 
 UNITED STATES, 
 
 IN OBEDIENCE TO THE ACT OF MAY 10, 1800, 
 
 " SUPPLEMENTARY TO THE ACT. ENTITLED ' AN ACT TO ESTABLISH THE TnEAStT.V DEPARTMENT. ' ** 
 
 TO WHICH ARE PREFIXED 
 
 THE REPORTS OF ALEXANDER HAMILTON, 
 
 PUBLIC CREDIT, A NATIONAL BANK, MANUFACTURES, 
 
 THE ESTABLISHMENT OF A MINT. 
 
 VOL. II. 
 
 WASHINGTON: 
 
 PRINTED BY BLAIR & RIVES. 
 1837.
 
 Stack 
 Annex 
 
 50129 
 
 
 TABLE OF CONTENTS. 
 
 Page. 
 
 Report by Mr. Dallas on the Finances - December, 1815 5 
 
 Report by Mr. Crawford on the Finances December, 1816 73 
 
 Report by Mr. Crawford on the Finances -. - December, 1817 8 
 
 Report by Mr. Crawford on the Finances .- ~-jt November, 1818 110 
 
 Report by Mr. Crawford on the Finances - rrVy December, 1819 144 
 
 Report by Mr. Crawford on the Finances December, 1820 167 
 
 Report by Mr. Crawford on the Finances - December, 1821 198 
 
 Report by Mr. Crawford on the Finances - December, 1822 217 
 
 Report by Mr. Crawford on the Finances - December, 1823 247 
 
 Report by Mr. Crawford on the Finances - December, 1824 276 
 
 Report by Mr. Rush on the Finances - December, 1825 312 
 
 Report by Mr. Rush on the Finances - December, 1826 353 
 
 Report by Mr. Rush on the Finances - December, 1827 388 
 
 Report by Mr. Rush on the Finances - - December, 1828 439 
 
 Report by Mr. Crawford on the state of the Currency of the United States, in 1820 481
 
 . -
 
 i*;r,8f-. 
 
 1-"'' REPORTS 
 
 OP THE 
 SECRETARY OF THE TREASURY OF THE UNITED STATES. 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1815. 
 
 In obedience to the acts entitled, respectively, " An act to establish the 
 Treasury Department," and " An act supplementary to the act entitled ' An 
 act to establish the Treasury Department,' " the Secretary of the Treasury 
 has the honor to lay before Congress the following report: comprehending, 
 
 1. A cursory review of the financial operations of the Government, in 
 reference to the recent state of war : 
 
 2. A view of the finances for 1815, with estimates of the public revenue 
 and expenditures for 1816 : 
 
 3. Propositions for the improvement and management of the revenue, 
 and for the support of public credit. 
 
 I. A cursory review of the financial operations of the Government, in 
 reference to the recent state of war. 
 
 In order to introduce to the consideration of Congress, with advantage, 
 the measures which will be respectfully suggested for replacing the finances 
 of the United States upon the basis of a peace establishment, a review 
 of the financial operations of the Government, in reference to the recent 
 state of war, appears to be a necessary preliminary. 
 
 The restrictive system, which commenced in the year 1807, greatly di- 
 minished the product of the public revenue ; but it was not until the crisis 
 involved an actual declaration of war, that the augmentation in the expenses 
 of the Government became obvious and important. With the occasional 
 aid of temporary loans, the ordinary receipts of the Treasury had exceeded 
 the ordinary expenditures, even during a period of a suspended commerce; ( 1 ) 
 and a report from this department, presenting the estimates for the 
 year 1812. seems to have given the first intimation that the portion of ex- 
 traordinary expenses to be incurred for the military and naval service, on 
 account of the then existing state of the country, would raise the demands 
 upon the Treasury to a considerable amount beyond the estimated product 
 of the current revenue. (2) The ordinary disbursements for the year end- 
 ing on the 30th September, 1811, were stated as amounting to the sum of 
 $13,052,657 73 ; and the ordinary receipts for the same year were stated 
 as amounting to the sum of $13.541,446 37, independent of a temporary 
 loan, (raised in 1810, and repaid in 1811,) as well as of the balances in 
 the Treasury at the commencement and the close of the year. But the 
 
 (1) See the annexed table A, exhibiting a statement of the gross annual receipts and 
 disbursements of the Treasury, from the year 1791. to the year 1812. 
 
 (2) See the annual report of the Secretary of the Treasury, dated the 22d ^"ov. 1811.
 
 6 REPORTS OF THE [1815. 
 
 estimates for the year 1812 required, on account of the current expenses, 
 the sum of $9,400,000 
 
 For the civil and diplomatic departments - $1 ,260,000 00 
 For the military department, (including the 
 militia, the Indian department, the charge 
 of arsenals, army, and ordnance, <fcc.) - 3,415,000 00 
 For the naval department - - 2,500,000 00 
 
 And for the interest on the public debt - 2,225,000 00 
 
 $9,400,000 00 
 
 And the subsisting revenue to meet these expenses was 
 estimated at the sum of $8,200,000 ; proceeding 
 From the customs - - - $7,500,000 00 
 
 From the sale of public lands 600,000 00 
 
 And from miscellaneous payments - 100,000 00 
 
 8,200,000 00 
 
 Leaving a deficit, for which it was proposed to provide by a 
 
 loan, amounting to the sum of - $1,200,000 00 
 
 Such were the limited objects of expense, and such the limited means of 
 supply, at the commencement of the year in which war was declared. An 
 increase of the expense, and a diminution of the supply, must have been 
 anticipated, as the inevitable consequences of that event ; but the Govern- 
 ment reposed with confidence for all the requisite support upon the untried 
 resources of the nation, in credit, in capital, and in industry. The confi- 
 dence was justly reposed ; yet it may, perhaps, be considered as a subject 
 for regret, and it certainly furnishes a lesson of practical policy, that there 
 existed no system by which the internal resources of the country could be 
 brought at once into action, when the resources of its external commerce 
 became incompetent to answer the exigencies of the time. The existence 
 of such a system would probably have invigorated the early movements of 
 the war ; might have preserved the public credit unimpaired ; and would 
 have rendered the pecuniary contributions of the people more equal as well 
 as more effective. But, owing to the want of such a system, a sudden and 
 almost exclusive resort to the public credit was necessarily adopted, as the 
 chief instrument of finance. The nature of the instrument employed was 
 soon developed ; and it was found that public credit could only be durably 
 maintained upon the broad foundations of public revenue. 
 
 On the opening of the session of Congress, in November, 1811, the legis- 
 lative attention was devoted to the organization of the military and naval 
 departments, upon the enlarged scale of a war establishment ; so that the 
 appropriations for this purpose far exceeded, in a short time, the estimates 
 and the resources of the Treasury, as they have been already described. 
 Ways and means were therefore provided to meet the extraordinary de- 
 mands thus created ; but they were derived exclusively from the operations 
 of foreign commerce and of public credit. 
 
 1. The Mediterranean fund was at first continued, until the 4th of March, 
 1813, and afterwards until March, 1815, (when it became extinct,) affording 
 an additional duty of 2^ per cent, ad valorem, on all imported goods paying- 
 duties ad valorem ; ancT a discriminating duty of 10 per cent, upon that ad- 
 ditional duty, in respect to ail goods imported in vessels not of the United 
 States. (3) 
 
 (3) See the act of the 25th March, 1804 : 7 vol. 133 ; and the 31st January, 1812: 11 vol. 
 28 ; and the act of the 27th February, 1813 : 11 vol. 401.
 
 1815.] SECRETARY OF THE TREASURY. 7 
 
 2. There were imposed an additional duty of 100 per cent, upon the per- 
 manent duties on goods imported into the United States from any foreign 
 place ; a discriminating duty of 10 per cent, upon that additional duty, in 
 respect to all goods imported in vessels not of the United States ; and an 
 additional duty of $] 50 per ton (the previous duty being at the rate of 50 
 cents per ton) upon all vessels belonging wholly or in part to the subjects 
 of foreign powers. But the continuance of the act being limited to the ex- 
 piration of one year after the conclusion of the peace, these additional duties 
 will cease on the 17th of February, 1816. (4) 
 
 3. An authority was given to raise, by loan, a sum not exceeding 11.000,000 
 dollars, and to create stock for the amount, bearing interest not exceeding 
 the rate of 6 per cent, per annum, and reimbursable at any time after the 
 expiration of twelve years from the 1st of January, 1813. The payment of the 
 interest, and the redemption or the purchase of this stock, are charged upon 
 the sinking fund. (5) 
 
 4. And an authority was given to issue Treasury notes, for a sum not ex- 
 ceeding $5,000,000, bearing interest at the rate ot 5 per cent, per annum, 
 and reimbursable at such places, respectively, as should be expressed on the 
 face of the notes, one year after the day on which the same shall have been 
 issued. The notes were declared to be receivable in payment of all duties 
 and taxes laid by the United States, and all public land sold by their au- 
 thority ; and the payment of the interest, and the redemption or the purchase 
 of these notes, were charged, like the funded debt, upon the sinking fund. (6) 
 
 The effect of the additional ways and means provided by Congress, from 
 time to time, during the late war, may readily be traced. From the report 
 dated the 1st of December, 1812, it appears, that the actual receipts into the 
 Treasury, during the year ending on the 30th of September, 1812, including 
 a portion of the loan, and of the issue of Treasury notes, amounted to the sum 
 of $16,782,159 40, (almost double the amount of the previous estimate,) 
 and that the actual disbursements for the same year amounted to the sum of 
 $18,368,325 07, (which was almost double the amount of the previous 
 estimate,) independent of the balances in the Treasury at the commence- 
 ment and the close of the year, (7) But the estimates for the year 1813 re- 
 quired, on account of the accumulating expenditures, a sum of $31,925,000. 
 For the civil and diplomatic departments - - $1.500,000- 
 
 For the military department - - 17,000,000 
 
 For the naval department 4,925,000 
 
 And for the interest and reimbursement of the principal of 
 the public debt - - - - 8,500,000 
 
 $31,925.000 
 
 And the subsisting revenue to meet these expenditures 
 was estimated at the sum of $12,000,000: proceeding, 
 From the customs 11,500,000 
 
 From the sale of public lands, &c. 500,000 
 
 12.000,000 
 
 (4) See the act of the 1st of July, 1812: 11 vol. 261. 
 
 (5) See the act of the 14th March, 1812: 11 vol. 72. 
 (G) See the act of the 30th June, 1812: 11 vol. 255. 
 
 (7) See the annual report of the Secretary of the Treasury, dated the 1st of December, 1812.
 
 8 REPORTS OF THE [1815, 
 
 Leaving a deficit, for which it was proposed to 
 provide : 1st, by the outstanding balances of the 
 authorized loan and issue of Treasury notes ; and ,. ; 
 2d, by a new authority to borrow, and to issue 
 Treasury notes to the amount of -V $19,925,000 
 
 During the session of Congress which commenced in November, 1812, 
 and closed on the 3d of March, 1813, the appropriations for the army, the 
 navy, and the other branches of the public service, were considerably aug- 
 mented ; but, without adverting to the imposition of a small duty upon im- 
 ported iron-wire, (8) no new source of revenue was then opened; but 
 additional aid was extended to the Treasury, by authorizing a repetition, of 
 the appeal to public credit. 
 
 1. An authority was given to raise by loan a sum not exceeding 16,000,000 
 of dollars, and to create stock for the amount, bearing interest not exceeding 
 the rate of 6 per cent, per annum, and reimbursable at any time after the ex- 
 piration of 12 years from the 1st of January, 1814. The payment of the 
 interest, and the redemption or purchase of this stock, are charged upon the 
 sinking fund. (9) 
 
 2. And an authority was given to issue Treasury notes, for a sum not 
 exceeding $5,000,000, absolutely ; with a provisional authority to issue an 
 additional sum of $5,000,000, to be deemed and held to be a part of the loan 
 of $16,000,000 authorized, as above stated, to be raised. The notes were 
 to bear interest at the rate of $5| per cent, per annum; to be reimbursable 
 at such places respectively as should be expressed on the face of them, one 
 year after the day on which they should be issued ; to be receivable in pay- 
 ment of all duties and taxes laid by the United States, and all public lands 
 sold by their authority; and the payment of the interest, and the redemp- 
 tion or purchase of these notes, were charged, like the funded debt, upon 
 the sinking fund. (10) 
 
 The necessities of the Treasury becoming, however, more urgent, and the 
 reliance on the public credit becoming more hazardous, Congress determined, 
 at a special session which commenced in May, 1813, to lay the foundation of a 
 system of internal revenue ; selecting, in particular, those subjects of taxation 
 which were recommended by the experience of a former period, and com- 
 puting their general product at the sum of $5,000,000. (11) The continu- 
 ance of these taxes being limited, at first, to one year after "the termination 
 of the war, they acquired the denomination of the ' war taxes;" but by sub- 
 sequent laws almost all the existing revenues are pledged, with the faith of 
 the United States, to provide for the payment of the expenses of Government, 
 for the punctual payment of the public debt, principal and interest, according 
 to the contracts, and for creating an adequate sinking fund, gradually to re- 
 duce, and eventually to extinguish, the public debt ; until those purposes 
 shall be accomplished, or until Congress shall provide and substitute by law, 
 for the same purposes, other duties, which shall be equally productive. In 
 the session of May, 1813 
 
 (8) See the act of the 25th of February, 1813: tl vol. 385. 
 
 (9) See the act of the 8th of February, 1813: 11 vol. 367. 
 
 (10) See the act of the 25th of February, 1813: 11 vol. 377. 
 
 (11) See the letter of the Secretary of the Treasury to the chairman -of the Committee of 
 Ways and Means, dated January 10. 1812, and the report of the acting Secretary of the 
 Treasury, dated June 2d, 1813.
 
 1815.J SECRETARY OF THE TREASURY. 9 
 
 1. A direct tax of $3,000,000 was laid upon the United States, and 
 apportioned to the States respectively, for the year 1814 ; and it was after- 
 wards subjected to the general pledge above stated. (12) 
 
 2. A duty of four cents per pound was laid upon all sugar refined within 
 the United States. The continuance of the duty was limited to one year 
 after the war ; and as the general pledge has not been applied to it, the duty 
 will cease on the 17th of February, 1816. (13) 
 
 3. A duty was laid upon all carriages for the conveyance of persons, 
 kept by any person for his own use, or to be let out for hire, or for the con- 
 veyance of passengers, which was graduated, according to the denomination 
 of the carriage, from tiie yearly sum of twenty dollars to the yearly sum of 
 two dollars. The continuance of this duty was originally limited to the 
 war ; but the general pledge has been applied to it, with some modifications 
 in the mode of laying and collecting the duty. (14) 
 
 4. A duty was imposed on licenses to distillers of spirituous liquors, 
 which was graduated according to the capacity of the still, the time of em- 
 ploying it, and the materials consumed. The continuance of this duty was 
 originally limited to the war ; but the general pledge has been applied to it, 
 with considerable modifications in the principle and provisions of the 
 law. (15) 
 
 5. A duty was laid on sales at auction, of merchandise, and of ships and 
 vessels, at the rate of one per cent, of the purchase money of goods, and of 
 twenty-five cents for every hundred dollars of the purchase money of ships 
 and vessels. The continuance of this duty was originally limited to the 
 war ; but the general pledge has been applied to it, with a considerable ad- 
 dition to the amount, and a modification of the provisions of the law. (16) 
 
 6. A duty was laid on licenses to retailers of wines, spirituous liquors, 
 and foreign merchandise, graduated according to the place of retailing, and 
 the nature of the article retailed. The continuance of this duty was origin- 
 ally limited to the war : but the general pledge has been applied to it. (17) 
 
 7. A duty was laid on notes of banks and bankers, on bonds, obligations, 
 or promissory notes, discounted by banks or bankers, and on foreign or 
 inland bills of exchange above fifty dollars, and having one or more endors- 
 ers, graduated according to the nominal amount of the instrument. The 
 continuance of this duty was limited to one year after the war ; and as the 
 general pledge has not been applied to it, the duty will cease on the 17th of 
 February, 1816. (18) 
 
 But besides the direct tax and the internal duties, there were added to 
 the resources of the Treasury, during the sessions of May, 1813 
 
 8. A duty of 20 cents per bushel upon all salt imported from any foreign 
 place into the United States, which, being limited to the war, and not being 
 included in the general pledge, will cease on the 17th of February, 1816. (19) 
 
 9. And an authority to raise by loan a sum not exceeding $7,500,000, and 
 to create stock for the amount, reimbursable at any time after the expiration 
 of twelve years from the 1st of January, 1814. The rate of interest was not 
 
 (12) See die acts of the 22d of July, and the 2d August, 1813, and 9th January, 1815; 
 12 vol. 53. 135. 35. 
 
 (13) See the act of the 24th July, 1813: 12 vol. 88. 
 
 (14) See the acts of the 24lh July, 1813, and 15th December, 1814: 12 vol. 101. 12. 
 
 (15) See the acts of the 2tth July. 1813, and 24th December, 1814: 12 vol. 105. 18. 
 
 (16) See the acts of the 24th July, 1813, and 23d December, 1814: 12 vol. 111. 26. 
 
 (17) See the acts of the 2d of August, 1813, and 23d December, 1814: 12 vol. 184. 2G. 
 (IS) See the act of the 2d of August, 1813 : 12 vol. 204. 
 
 (19) See the act of the 29th of July, 1813: 12 vol. 127.
 
 10 
 
 REPORTS OF THE 
 
 [1815. 
 
 limited by the law, but it was provided that no certificate of stock should 
 be sold at a rate less than 88 per cent., or $88 in money for $100 in stock. 
 The payment of the interest, and the redemption or the purchase of this 
 stock, are charged upon the sinking fund. (20) 
 
 The sources of revenue thus opened in 1813 could not, however, be ex- 
 pected to aid the Treasury until 1814; and, accordingly, in the annual re- 
 port from this department, dated the Sth January, 1814. neither the direct 
 tax nor the internal duties will be found as an item of the actual receipts 
 into the Treasury during the year ending the 30th of September, 1813. 
 The amount of those receipts was stated in the proceeds of the customs, of 
 the sales of public lands, &c., at $13,568,042 43, and in the proceeds of 
 loans and Treasury notes, at $23,976,912 50, making, together, 
 $37.544,954 93 ; and the actual disbursements of the same period were 
 stated at $32,928,955 19, independent of the balances in the Treasury at 
 the commencement and the close of the year. (21) But the estimates for the 
 year 1814 required a sum of $45,350.000 : 
 For civil, diplomatic, and miscellaneous ex- 
 penses - $1,700,000 
 For the payment of interest on the old and 
 new debt, and the instalments of the prin- 
 cipal of the old debt - 12,200.000 
 For the military establishment ; ; ;- 3< 24,550^000 
 For the naval establishment ? - 6,900,000 
 
 And the subsisting revenue to meet these ex- 
 penditures was estimated at the sum of 
 $14,370,000, proceeding 
 
 From the customs, and sales of public lands $6,600,000 
 From the internal duties and direct tax - 3,500,000 
 From a balance of loans and Treasury notes 4,270,000 
 
 $45.350,000 
 
 ' ' 
 
 14,370,000 
 
 Leaving a deficit, for which it was proposed to provide 
 1st. By a part of the balance in the Treasury ; and 
 2d. By loans and Treasury notes, amounting to - - $30,980,000 
 
 For the deficit thus approaching the sum of $40,000,000, the only provi- 
 sion made during the session which commenced in December, 1813, rested 
 again upon the public credit. 
 
 1. An authority was given to issue Treasury notes, for a sum not exceed- 
 ing $5.000,000 absolutely, with a pro visional authority to issue an addition- 
 al sum of $5,000,000, to be deemed and held to be a part of any loan which 
 might be authorized during the session. The notes were to bear interest, 
 at the rate of $5| per cent, per annum ; to be reimbursable at such places, re- 
 spectively, as should be expressed on the face of them, one year after the 
 day on which they should be issued ; to be receivable in payment of all du- 
 ties and taxes laid by the United States, and all public lands sold by their au- 
 thority; and the payment of the interest, and the redemption or purchase of 
 these notes, were charged, like the funded debt, upon the sinking fund. (22) 
 
 2. And an authority was given to raise, by loan, a sum not exceeding 
 $25,000,000, and to create stock for the amount, reimbursable at any time 
 after the expiration of twelve years, from the last day of December, 1814 
 
 (20} See the act of the 2d of August, 1813 : 12 vol. 200. 
 
 (21) See the annual Report of the acting Secretary of the Treasury, dated Sth Jan. 1814. 
 
 (22) See the act of the 4th March, 1814: 12 vol. 276.
 
 1815.] SECRETARY OF THE TREASURY. 11 
 
 Neither the rate of the interest, nor the price of the stock, was limited ; 
 
 and the payment of the interest, and the redemption or the purchase of the 
 
 stock, are charged upon the sinking fund. (23) 
 
 The embarrassments of the Treasury, after the adjournment of Congress, 
 
 in the year 1814, became extreme. It appears (24) that the disbursements 
 
 during the first half of that year had amounted to the sum of $19,693,781 27. 
 For the civil, diplomatic, and miscellaneous expenses - $1,444,762 60 
 For the military department - 11,210,238 00 
 
 For the naval department - - - 4,012,199 90 
 
 For the public debt - - 3,026,580 77 
 
 19,693,781 27 
 
 And the balance of the appropriations for the same objects 
 of expenditure, required during the other half of the 
 same year, was stated at the sum of - - 27,576,391 19 
 
 $47,270,172 46 
 But the actual receipts into the Treasury, during the first 
 
 half of the year 1814, had amounted to $19,219,946 33 ; 
 
 proceeding 
 
 From the customs - $4,182.088 25 
 
 From the sale of public lands, (including 
 
 those in the Mississippi Territory, the 
 
 proceeds of which are payable to the 
 
 State of Georgia) 540,065 68 
 
 From the internal duties and direct tax 2,189,272 40 
 From postage and incidental receipts - 166,744 00 
 From loans - 9,679,676 00 
 
 From Treasury notes :V* f - 2,462,100 00 
 
 $19,219 : 946 33 
 
 And it was estimated that there would be 
 received from the same sources of reve- 
 nue,(includingloans and Treasury notes 
 to the amount of $8.320,000,) during the 
 other half of the same year, the sum of 13.160,000 00 
 
 32,379,946 33 
 To this amount add the balance of the cash 
 
 in the Treasury, on the 1st of July, 1814, 4,722,639 22 
 
 Arid the estimated aggregate of the funds, 
 to meet the demands on the Treasury, to 
 the close of the year 1814, was the sum of - 37,102,585 55 
 
 Leaving a deficit for the service of 1814, after absorbing 
 all the cash of the Treasury, amounting to the sum of - $10,167,586 91 
 
 To supply this deficit of $10,1 67.586 91, to provide an additional sum 
 for the contingencies of the year, and to accelerate the fiscal measures which 
 Were essential to the prosecution of the war in 1815, the interposition of 
 the Legislature was deemed indispensable. The plan of finance, which 
 
 (23) See the act of the 24th of March, 1814 : 12 vol. 309. 
 
 (24) See the annual report of the Secretary of the Treasury, dated 23d September, 1814.
 
 12 REPORTS OF THE [1815. 
 
 was predicated upon the theory of defraying the extraordinary expenses of 
 the war by successive loans, had already become inoperative. The pro- 
 duct of the revenues had ceased to furnish an amount equal to the expendi- 
 ture of the former peace establishment, with an addition 'of the interest 
 upon the debt contracted on account of the war. And the sudden suspen- 
 sion of specie payments, at the principal banks, established in the different 
 States, (however it may be excused or justified by the apparent necessity 
 of the case,) had exposed the Government, as well as private citizens, to all 
 the inconveniences of a variable currency, devoid alike of national authori- 
 ty and of national circulation. The Treasury could no longer transfer its 
 funds from place to place, and it became, of course, impracticable to main- 
 tain the accustomed punctuality in the payment of the public engagements. 
 
 Under these circumstances, the Congress was convened, by the special 
 call of the President, in September, 1814 ; when the citizens of every occu- 
 pation and pursuit seemed eager to second the legislative efforts to re- 
 plenish an exhausted Treasury, and to renovate the public credit. Com- 
 merce continued to contribute, perhaps, to the extent of its capacity. Agri- 
 culture, though suffering the want of a vent for some of its important staples, 
 was everywhere prepared for the requisite exertion. Domestic manufac- 
 tures, which had scarcely surmounted the first struggle for existence, yielded 
 to the patriotic impulse. And the capital of individuals, in all its variety 
 of form, offered a ready tribute, to relieve the necessities of the country. 
 Thus, during the session which commenced in September, 1814, and closed 
 on the 3d of March, 1815, the following internal duties were increased in 
 their amount, the duties were rendered permanent and the general pledge 
 was applied to them : 
 
 (1) , The direct tax was raised to an annual sum of $6,000,000, (25) 
 
 and it was extended to the District of Columbia. (26) 
 
 (2) The duty on carriages was raised, and a duty on the harness was 
 added. (27) 
 
 (3) The duty on licenses to distillers of spirituous liquors was con- 
 tinued, and a duty on the spirits distilled was added. (28) 
 
 (4) The duties on sales at auction, and on licenses to retail wines, 
 and spirituous liquors, and foreign merchandise, were raised. (29) 
 
 (5) The rates of postage were raised 50 per cent. (30) 
 
 2. The following new duties were permanently laid, and the general 
 pledge was applied to them. But it was at the same time declared, that so 
 long as the duties imposed on the articles of domestic manufacture should 
 continue to be laid, the duties then payable on the like description of goods, 
 imported into the United States, should not be discontinued or diminished. 
 
 1. Duties on various articles, manufactured or made for sale within the 
 United States, or their Territories, as specified in the annexed table, 
 marked B. 
 
 2. Duties on articles in use : (31) to wit : 
 
 On household furniture, the value in anyone family (with certain excep- 
 tions.) exceeding $200 in money, according to a scale graduated from 
 $1 on a value of $400, to $100 on a value of $9,000. 
 
 (26 
 (27 
 (28 
 (29 
 (30 
 (31 
 
 See the act of the 9th of January, 1815 : 12 vol. 35. 
 See the act cf the 27th February, 1815 : 12 vol. 119. 
 Seethe act of the 15th of December, 1814: 12vol. r2. 
 See the act of the 21st of December, 1814; 12 vol. 18. 
 See the act of the 23d of December, 1814 : 12 vol. 2G. 
 See the act last quoted. 
 See the act of the 18th of January, 1815 : 12 vol. 65.
 
 1815.] SECRETARY OF THE TREASURY. 13 
 
 On every gold watch kept for use, $2. 
 
 On every silver watch kept for use, $1. 
 
 But, besides establishing these sources of revenue, (and others were con- 
 templated at the period when the treaty of Ghent was announced,) Congress 
 sought to confer upon the Treasury the means of anticipating the collection 
 of the duties ; of recovering the punctuality of its payments ; and of invit- 
 ing the co-operation of the moneyed institutions, and moneyed men of the 
 United States, in plans for restoring a uniform national currency. With 
 these views, various measures were sanctioned. 
 
 1. An authority was given to raise, by loan, a sum not exceeding 
 83,000.000, (particularly^destined to provide for the expenditures of the 
 last quarter of the year 1814,) and to create stock for the amount, reimburs- 
 able at any time after the 31st December, 1814. No limitation was pre- 
 scribed as to the rate of interest, or the price of the stock; but it was de- 
 clared, that in payment of subscriptions to this loan, or to loans authorized 
 by any other act of Congress, it should be lawful to receive Treasury notes, 
 becoming due on or before the 1st of January, 1815, at their par value, 
 together with the interest accrued. 
 
 The payment of the interest, and the redemption or the purchase of the 
 stock to be thus created, were charged upon the sinking fund ; but the act 
 contained these further assurances : 1st, that in addition to the annual sum 
 of SS ; 000,000, heretofore appropriated to the sinking fund, adequate and 
 permanent funds should be provided and appropriated, during that session 
 of Congress, for the payment of the interest and the reimbursement of the 
 principal of the stock ; and 2d, that an adequate and permanent sinking 
 fund, gradually to reduce, and eventually to extinguish, the public debt 
 contracted during the war, should also be established during the same ses- 
 sion of Congress. (32) 
 
 2. An authority was given to anticipate the collection and receipt of the 
 duties on licenses to distillers of spirituous liquors, and on distilled spirits, 
 by obtaining a loan upon the pledge of the duties, to an amount not exceed- 
 ing $6,000,000, and at a rate of interest not exceeding six per cent, per 
 annum. (33) And a similar authority was given to raise a like sum, at the 
 same rate, by the pledge of the direct tax. (34) 
 
 3. An authority was given to issue Treasury notes, for so much of the 
 sums authorized to be borrowed under the acts of the 24th of March, and 
 the loth of November, 1814, as had not been borrowed, or otherwise em- 
 ployed in the issue of Treasury notes ; provided that the whole amount 
 should not exceed the sum of $7,500,000. And, by the same act, an au- 
 thority was also given to issue a further sum of $3,000,000, to supply a 
 deficiency in the appropriations for the expenses of the War Department. 
 The Treasury notes issued under these authorities were, in all respects, 
 similar to the prior issues of Treasury notes ; except that the payment of 
 the interest, and the reimbursement of the principal, were not, as hereto- 
 fore, charged upon the sinking fund, but upon any money in the Treasury 
 not otherwise appropriated. (35) 
 
 4. An authority was given to issue and re-issue Treasury notes, for a 
 sum not exceeding $25,000,000, upon principles essentially different from 
 the prior issues. (36) 
 
 (32) See the act of the 15th of Dec. 1814: 12vol. 5. 
 
 (33) See last sec. of the act of the 21st of Dec. 1814 : 12 vol. 26. 
 
 (34) See the lust sec. of the act of the 9th of Jan. 1815 : 12 vol. 56. 
 
 (35) Sse the act of the 26th of Dec. 1814 : 12 vol. 30. 
 
 (36) See the act of the 24th of Feb. 1815; 12 vol. 113.
 
 14 REPORTS OF THE [1815. 
 
 (1.) These Treasury notes might be of any denomination. If they were 
 of a denomination less than $100, they were to be payable to the bearer, to 
 be transferable by delivery, and to bear no interest. This denomination 
 has acquired the designation of " small Treasury notes." If they were of 
 the denomination of $100 or upwards, they might conform to the foregoing 
 description ; or they were to be payable to order, to be transferable by en- 
 dorsement, and to bear interest at the rate of o 2 . per cent, per annum. This 
 denomination (of which only notes for $100 bearing interest have been 
 issued) has acquired the designation of " Treasury notes of the new emis- 
 sion." 
 
 (2.) The principal and interest of these Treasury notes are not payable 
 at any particular time ; but the notes are everywhere receivable in all pay- 
 ments to the United States. 
 
 (3.) The holders of " small Treasury notes" may exchange them at 
 pleasure, in sums not less than $100, for certificates of funded stock, bear- 
 ing interest at 7 per cent, per annum, from the first day of the calendar month 
 next ensuing that in. which the notes shall be presented to the Treasury of 
 the United States, or to a commissioner of loans, for the purpose of ex- 
 change. 
 
 (4.) The holders of " Treasury riotes of the new emission" may ex- 
 change them at pleasure, in sums not less than $100, for certificates of 
 funded stock, bearing interest at 6 per cent, per annum, from the first day 
 of the calendar month next ensuing that in which they shall be presented 
 to the Treasury of the United States, or a commissioner of loans. 
 
 (5.) The stock thus created, by the exchange of Treasury notes of either 
 denomination, is reimbursable at any time after the 3 1st of December, 1824, 
 and it is charged upon such funds as had been, or should be, established by 
 law, for the payment and reimbursement of the funded public debt, con- 
 tracted since the declaration of war. 
 
 5. An authority was given to raise, by loan, a sum not exceeding 
 $18,452,800, and to create stock for the amount, reimbursable at any time 
 after the expiration of twelve years from the last day of December, 1815. (37) 
 Neither the rate of interest, nor the price of the stock, was limited ; 
 but it was declared that there might be received, in payment of subscrip- 
 tions to the loan, such Treasury notes as were actually issued before the 
 passing of the act, and which were made, by law, a charge on the sinking 
 fund. (38) And the payment of the .interest, and the reimbursement or the 
 purchase of the principal of the stock, are charged upon the sinking 
 fund. (39) 
 
 6. It was declared that any holder of any Treasury notes, issued, or 
 authorized to be issued, under any laws previously passed, might convert 
 them into certificates of funded debt, bearing an interest of 6 per cent, per 
 annum. (40) 
 
 7. And it was declared that it should be lawful for the Secretary of the 
 Treasury to cause to be paid the interest upon Treasury notes which have 
 become due and remain unpaid, as well with respect to the time elapsed 
 before they became due, as with respect to the time that shall elapse after 
 they become due, and until funds shall be assigned for the payment of the 
 said Treasury notes, and notice thereof shall be given. 
 
 (37 
 
 See the act of the 3d of March, 1815 : 12 vol. 145. 
 
 See the act last quoted : sec. 6. 
 
 Idem, sec. 4. 
 
 See the 9th sec. of the act of the 24th Feb. 1815: 12 vol. J16,
 
 1815.] 
 
 SECRETARY OF THE TREASURY. 
 
 16 
 
 The progress of expenditure and of revenue, for the entire period of the 
 war, is thus developed ; and, independent of the balance of the appropria- 
 tions for the year 1814, which is transferred to the accounts for the year 
 1815, the subject may be reduced to the following general abstract. 
 
 THE ACTUAL RECEIPTS OF THE TREASURY. 
 
 In 1812, they amounted to the sum of - 
 
 From revenue - - $9,801,132 76 
 
 From loans - - 10,002,400 00 
 
 From Treasury notes -> 2,835,500 00 
 
 In 1813, they amounted to the sum of 
 From revenue 
 From loans - jf 
 From Treasury notes 
 
 In 1814, they amounted to the sum of 
 From .revenue 
 
 From loans - j,^lJ 
 
 From Treasury notes 
 
 14,340,709 95 
 
 20,089,635 00 
 
 6,094,500 00 
 
 - 11,500,606 25 
 
 - 15,080,546 00 
 
 - 8,297,280 00 
 
 $22,639,032 76 
 
 40,524,844 95 
 
 34,878,432 25 
 
 The aggregate amount of the receipts into the Treasury, 
 
 for the three years of war, being the sum of - - $98.042,309 96 
 
 THE ACTUAL DISBURSEMENTS OF THE TREASURY. 
 
 In 1812, they amounted to the sum of - 
 
 For the civil, diplomatic, and miscellaneous expenses 
 
 of the Government - $1,791,360 31 
 
 For the military service (including the 
 
 Indian department)- - 12,078,773 24 
 
 For the naval service - - 3,959,365 15 
 
 For the public debt - " . - . 4,449,622 45 
 
 In 1813, they amounted to the sum of - 
 
 For the civil, diplomatic, and miscella- 
 neous expenses of Government 
 
 For the military service (including the 
 Indian department) - 
 
 For the naval service - 
 
 For the public debt - 
 
 In 1814, they amounted to the sum of - 
 
 For the civil, diplomatic, and miscella- 
 neous expenses of Government 
 
 For the military service (including the 
 Indian department) - 
 
 For the naval service - 
 
 For the public debt - 
 
 1,833,308 80 
 
 19,802,488 02 
 
 6,446,600 10 
 
 11,108,123 44 
 
 2.337,897 13 
 
 20,510,238 00 
 7,312,899 90 
 
 8,386,880 59 
 
 $22,279,121 15 
 
 ;{ 
 
 39,190,520 36 
 
 
 38,547,915 62 
 -; .gafeef 
 
 $100,017,557 13
 
 16 REPORTS OF THE [1815. 
 
 But as the receipts of the Treasury, for the year 1815, are derived prin- 
 cipally from the war revenue and resources, and as its expenditures arise, 
 also, principally from the arrearages of the war demands, it is proper to 
 comprise them, as far as they are ascertained, in the following supplemen- 
 tal statement : 
 
 1. The gross receipts of the Treasury for 1812, 1813, and 1814, amounted, 
 as above stated, to the sum of - $98,042,309 96 
 
 The receipts of the Treasury for 1815, to the 30th of Sep- 
 tember last, cannot be precisely stated, as the accounts 
 to that time are not yet actually made up, but they are 
 estimated to have amounted to the sum of - - 39,372,000 00 
 
 From revenue $12,400,000 00 
 
 From loans - ?V - 11,034,000 00 
 
 From Treasury notes - 15,938,00000. 
 
 The aggregate of the receipts of the Treasury, from the 
 1st of January, 1812, to the 30th of September, 1815, 
 being the sum of - $137.414,309 96 
 
 2. The gross disbursements of the Treasury, for 1812, 
 
 1813, and 1814, amounted, as above stated, to the sum of $100,017,557 13 
 The disbursements of the Treasury for 1815, to the 30th 
 
 of September last, amounted to the sum of .'-, - - 33.686,323 18 
 For the civil, diplomatic, and miscellaneous ex- 
 penses - - $2,537,000 00 
 For the military service, &c. - 15,190,144 71 
 For the naval service, &c. - - 7,050,000 25 
 For the public debt , , y . - 8,909,178 22 
 
 The aggregate of the disbursements of the Treasury, from 
 the 1st of January, 1812, to the 30th of September, 
 1815, being the sum of - $133,703,880 31 
 
 It will be natural here to inquire into the general effects of the war upon 
 the public debt of the United States ; and the annexed table (marked C) 
 exhibits a detailed statement of the unsatisfied amount on the 1st day of Jan- 
 uary, annually, from the year 1791 to the year 1815, both inclusive. The 
 subject, however, may be placed distinctly in the following point of view, 
 upon estimates referring to the date of the 30th of September, 1815. 
 
 OF T&E PUBLIC DEBT. 
 
 1. The amount qf the funded debt contracted before the late war, which 
 remained unsatisfied on the 30th of September, 1815, may be stated at the 
 sum of $39,135,484 96, to wit : 
 
 (1.) In old six per cent, stock, the nominal amount 
 being $17,350,871 39 
 
 And the amount reimbursed being - 13,467,587 00 
 
 Balance due on the 30th of September, 1815 - - $3,883,284 39 
 
 (2.) In deferred six per cent, stock, the 
 nominal amount being . . 9,358,320 35 
 
 And the amount reimbursed being " - 4,152,543 93 
 
 Balance due on the 30th of September, 1815 - - 5,205,776 42
 
 1815.] 
 
 SECRETARY OF THE TREASURY. 
 
 17 
 
 (3.) In three per cent, stock - - $16,158,177 43 
 
 (4.) In exchanged six per cent, stock, under the actof 1812 2,984,746 72 
 (5.) In six per cent, stock of 1796 80,000 00 
 
 (6.) In Louisiana six per cent, stock '.> 3t\ -i-ri: 10,923.500 00 
 
 Balance on the 30th of September, 1815, of the whole 
 
 of the public debt contracted before the war 
 
 - 39,135,484 96 
 
 2. The amount of the funded debt contracted on account of the late war, 
 on the 30th of September, 1815, may be stated at the sum of $ 63,144,972 50; 
 to wit : 
 
 (1.) In six per cent, stock of 1812, (the $11,000,000 
 loan,) authorized by the act of the 4th of March, 1812, ob- 
 tained at par, and not reimbursable before the year 1825 - $7,860,500 00 
 
 (2.) In six per cent, stock of 1813, (the $16,000,000 
 loan,) authorized by the act of the 8th of February, 1813, 
 obtained at the rate of $88 in cash for $100 in stock, and 
 not reimbursable before the year 1826 - - 18,109,377 48 
 
 (3.) In six per cent, stock of 1813, (the $7,500.000 loan,) 
 authorized by the act of the 2d of August, 1813, obtained 
 at the rate of $88 25 in money for $100 in stock, and not 
 reimbursable before the year 1826 - 8,498,581 95 
 
 (4.) In six per cent, stock of 1814, (which arose from 
 loans in parts of a sum of $25,000,000, called the ten mil- 
 lion loan and the six million loan,) authorized by the act 
 of the 24th of March, 1814, obtained at different rates, and 
 not reimbursable before 1827, to wit : 
 
 $12,292.888 90 at 80 per cent, stock $15,366,111 21 
 
 140^810 00 at 85 per cent, stock 165,658 82 
 
 43^222 22 at 90| per cent, stock ' 47,627 79 
 
 74,590 75 at 90 per cent, stock 82,420 72 
 
 12,551,511 87 15,661,818 54 
 
 (5.) In six per cent, stock of 1815, (the $12,000,000 
 loan,) authorized by the act of the 3d of March, 1815, ob- 
 tained at different rates, payable in Treasury notes, or in 
 cash, and not reimbursable before 1827, to wit: 
 
 $7,924,219 59 at 95 per cent, stock $8,341,283 77 
 
 1,047,846 30 at 96 per cent, stock 1,085.851 08 
 
 32,978 49 at 97 per cent, stock 33,998 44 
 
 275,000 00 at 98 per cent, stock 280.612 24 
 
 4,000 00 at par, stock 4,000 00 
 
 (6.) In 7 per cent, stock of 1815, created by funding 
 Treasury notes not bearing interest, issued part at par and 
 part upon an advance, under the act of the 24th of Feb- 
 ruary, 1815, and not reimbursable until 1825 
 
 Estimated amount of the whole of the funded public 
 debt in reference to the late war - 
 
 9,745,745 53 
 
 3,268,949 00 
 
 63,144,972 50 
 
 3. The amount of the floating debt contracted since the commencement 
 VOL. ii. 2
 
 18 
 
 REPORTS OF THE 
 
 [1815. 
 
 of the late war, calculated to the 30th September, 1815, may be stated at 
 
 the sum of $17,355,101 ; to wit : 
 
 (1.) The aggregate of Treasury notes issued under the 
 
 authority of the several acts of Congress passed prior to 
 
 the act of the. 24th of February, 1815, amounted to the 
 
 sum of $20,201.600 ; to wit : 
 
 Payable in 1814, but unpaid - - $2,799,200 00 
 
 Payable in 1815 - - - 7,847,280 00 
 
 Payable in 1816 - 2,772.720 00 
 
 Payable also in 1816 (issued under the 
 
 special authority of the act of the 26th of 
 
 December, 1814) - - - 8,318,400 00 
 
 Deduct the amount reimbursed in 1815 
 (at Philadelphia, Baltimore, Washington, 
 Charleston, and Savannah) 
 
 21,737,600 00 
 
 1,536,000 00 
 
 - $4,531,587 06 
 
 216,587 06 
 
 Of this aggregate there has been sub- 
 scribed, in principal and interest, to the 
 loan of 1815, about the sum of 
 
 From which deducting an average esti- 
 mate of near one year's interest, about the 
 sum of - 
 
 There will remain for the amount of prin- 
 cipal subscribed to the loan, about the sum of 4,315,000 00 
 
 And it is estimated that there has been 
 paid on account of duties and taxes, to the 
 collectors of the customs, the internal du- 
 ties, and the direct tax, about the sum of - 1,200,000 00 
 
 $20,201,600 00 
 
 Outstanding amount of Treasury notes, bearing interest 
 at 5| per cent, per annum, about the sum of 
 
 (2.) The aggregate of " small Treasury 
 notes" issued and reissued under the act of 
 the 24th of February, 1815, amounts to 
 about the sum of - $4,142,850 00 
 
 Of this aggregate there has 
 been funded for 7 per cent, 
 stock, included in the fore- 
 going statement of the funded 
 public debt, about the sum of $3,268,949 00 
 
 And there has been paid, 
 on account of duties and 
 taxes, about the sum of - 50,000 00 
 
 3.318,949 00 
 
 Outstanding "small Treasury notes," about the sum of 
 (3.) The aggregate of Treasury notes, of the "new 
 emission," issued under the act of the 24th of February, 
 1815, amounts to about the sum of ' **) 
 
 Leaving the amount of floating public debt, in Treasury 
 notes, on the 1st of October, 1815, about the sum of 
 
 5.515,000 00 
 14,686,600 00 
 
 823,901 00 
 
 694,600 00 
 16,205,101 00
 
 
 1815.] SECRETARY OF THE TREASURY. 19 
 
 But to this amount of the public floating debt, in Treasu- 
 ry notes, there must be added the following temporary 
 loans, to wit : 
 
 (1.) A temporary loan made by the State Bank of Bos- 
 ton, in 1S12, payable the 1 5th and 31st of December, 1814, 
 but unpaid - - $500,000 00 
 
 (2.) A temporary loan made by the Cum- 
 berland Bank, in IS 12, payable the 15th of 
 November, 1817 : ,-';' 
 
 (3.) A temporary loan made by the Bank 
 of the State of South Carolina, in 1814, pay- 
 able the 1st of December, 1815 - - 
 
 (4.) A temporary loan made by the Me- 
 chanics' Bank of New York, in 1S15, paya- 
 ble when demanded ... 200,000 00 
 
 (5.) A temporary loan made by the State 
 of New York, payable in the year 181? - 350,000 00 
 
 ' $1,150,000 00 
 
 Making the aggregate amount of the floating public debt 
 about the sum of - $17,355,101 00 
 
 RECAPITULATION. 
 
 1. The amount of the unsatisfied funded public debt, con- 
 tracted before the war, on the 30th of September, 1815, was 
 
 the sum of - $39.135,484 96 
 
 2. The amount of the funded public debt, 
 contracted in reference to the late war, on 
 
 the same day, the sum of - $63,144,972 50 
 
 3. The amount of the floating public 
 debt, contracted since the war, was, on the 
 
 same day, the sum of - 17,355,101 00 
 
 Total of the ascertained amount of the public debt cre- 
 ated since the war, to the 30th of September, 1815 - $80,500,073 50 
 
 Total amount of the national debt, on the 30th of Sep- 
 tember, 1815 - $119,635,558 46 
 
 It is proper to remark, that the aggregate of the national debt, thus stated, 
 to the 30th of September, 1815, is subject to considerable changes and ad- 
 ditions. The floating debt in Treasury notes is convertible, at the pleasure 
 of the creditors, into funded debt ; and, independent of a direct application 
 of the current revenue to discharge the Treasury notes as well as the tem- 
 porary loans, there must be a great, though gradual, reduction of the float- 
 ing debt by the payments made in Treasury notes for duties, taxes, and 
 public lands. There are, indeed, some claims known to exist for loans, 
 supplies, and services, during the late war, which have not been liquidated, 
 or are not embraced by existing appropriations ; and. doubtless, there are 
 other legal and equitable claims which have not yet been brought into view 
 in any form at the accounting departments, but which may eventually re-, 
 ccive the sanction of Congress. It is not, however, within the scope of any
 
 20 REPORTS OF THE [1815. 
 
 estimate hitherto made, to state the probable addition to the funded debt, 
 under all circumstances, at more than $7,000,000; which would conse- 
 quently place the aggregate of the funded debt, created in consequence of 
 the war, at a sum not much exceeding $70,000,000. But it may be import- 
 ant to recollect, that the war debt has not been entirely incurred for ob- 
 jects limited to the continuance of the war ; and that the military and naval 
 establishments, in particular, have derived durable advantages from the ex- 
 penditures of the Treasury. 
 
 For the payment of the interest, and the reimbursement or gradual ex- 
 tinguishment of the national debt, the resources of the Treasury are abun- 
 dant, although the state of the circulating medium (which will be more par- 
 ticularly considered hereafter) has rendered it impracticable to obtain, at all 
 times, upon reasonable terms, the local currency of some of the places ap- 
 pointed for the discharge of the public engagements. These resources de- 
 pend upon the sinking fund, connected with the faith of the United States, 
 which is pledged to supply from the existing or from other objects of reve- 
 nue the deficiencies of that fund. 
 
 THE SINKING FUND. 
 
 The public debt amounted, on the 1st of January, 1791, to the sum of 
 $75,463,476 52; and it consisted 
 
 Of the foreign debt - $12,812,821 92 
 
 Of the domestic debt - - - 62,650,654 60 
 
 $75,463,476 52 
 
 The foreign debt experienced various changes in form and in amount. 
 From 1792 to 1795, it rose above the amount stated for 1791; but from that 
 period it was gradually reduced, and on the 1st of January, 1801, it stood 
 at the sum of $10,419,000. From the year 1801, however, the annual reduc- 
 tion was more rapid, and in the year 1810 the foreign debt became extinct. 
 
 The domestic debt has also experienced various changes in form and 
 amount. It was originally stipulated that it should be subject to redemption 
 by payments not exceeding, in one year, on account both of principal and 
 interest, the proportion of $8 upon $100 of the stock; (41) and when the 
 sinking fund was constituted and organized, provision was made for effect- 
 ing the payments in that proportion, until the whole debt should be extin- 
 guished by dividends, payable on the last days of March, June, and Septem- 
 ber, in each year, at the rate of 1^ per cent., and on the last day of Decem- 
 ber, in each year, at the rate of 3 per cent, upon the original capital. (42) 
 During the first period of about 10 years, from 1791 until the 1st of Janu- 
 ary, 1801, the amount of the domestic debt never fell below the sum which 
 has been stated, and in 1801 it stood at about the sum of $72,619,050 80. 
 The augmentation created on account of the purchaseof Louisiana, (amount- 
 ing to $15,000,000,) raised the capital of the domestic debt, in 1804, to the 
 sum of $80,691,120 88 ; but from that period there was a considerable an- 
 nual diminution of the amount, until it was reduced on the 30th of Septem- 
 ber, 1815, to the already specified sum of $39,135,484 96. 
 
 The sinking fund, by whose operations these beneficial effects have been 
 produced, may be regarded as coeval with the organization of the present 
 Government ; but it has undergone many important modifications. 
 
 See the 4th section of the act of the 4th August, 1790: 1 vol. 230. 
 See the act of the 28th of April, 1796: 3 vol. 298.
 
 1815.] SECRETARY OF THE TREASURY. 21 
 
 1 . The early appropriations of the revenue were confined to the pay- 
 ment of the interest and instalments of the foreign debt, and to the pay- 
 ment of the interest of the domestic debt ; but so early as the 4th of August, 
 1790, the proceeds of the sales of public lands in the Western Territory were 
 permanently and exclusively appropriated and pledged towards sinking and 
 discharging the debts for which the United States were then holden. (43) 
 The annexed table D will exhibit a statement of the quantity of the public 
 lands which have been annually sold, and of the proceeds of the sales, as 
 far as can be now ascertained. 
 
 2. In the year 1792, however, commissioners were designated and au- 
 thorized to purchase the public debt at its market price, not exceeding the 
 par value; and the interest of the debt purchased, together with the surplus 
 of certain other appropriations, was assigned for that purpose. (44) When 
 the annual amount of the fund thus created should be equal to two per 
 cent, on the six per cent, stock, it was directed to be first applied to the 
 redemption of that stock, according to the right reserved, and then to the 
 purchase, at its market price, of any other public stock. 
 
 3. In the year 1795, "the sinking fund" was established byname; (45) 
 its resources were vested in the same commissioners ; and its operations 
 were subjected to their direction and management. The duty of the com- 
 missioners, independent of temporary objects, consisted in applying the 
 sinking fund 1st, to the payment of the six per cent, stock, at the stipu- 
 lated rate of eight per cent, per annum; 2d, to the payment of the deferred 
 stock, after the year 1801, according to the same stipulation; and, 3d, if 
 any surplus remained, towards the further and final redemption of the pub- 
 lic debt of every denomination. For the accomplishment of these purposes, 
 there were permanently appropriated and pledged, in addition to the other 
 moneys constituting the sinking fund, and the interest of the amount of the 
 purchased or redeemed debt 1st, a sufficient sum arising yearly, and every 
 year, from the duty on imports and tonnage, and the duty on domestic 
 distilled spirits and stills, as might be rightfully paid of the principal of the 
 six per cent, stock, commencing on the 1st of January, 1802 ; 2d, the divi- 
 dends on the public shares in the Bank of the United States: but the shares 
 were sold in 1796 and 1802, under an authority given in 1795 ; 3d, the 
 nett proceeds of the sales of public lands in the Western Territory ; 4th, 
 moneys received into the Treasury on account of old debts ; 5th, the sur- 
 pluses of revenue beyond the amount of the appropriations. 
 
 4. Such was the outline of the sinking fund when, on the 6th of April, 
 1802, (46) the internal duties were repealed; and on the 29th of April, 
 1802, a new and additional provision was made for the redemption of the 
 public debt. Thus, an annual sum of $7,300,000 was permanently appro- 
 priated and vested in the commissioners of the sinking fund, to be produced 
 1st, by the moneys (other than the surpluses of revenue) which then 
 constituted the fund, or should arise to it by virtue of any previous provi- 
 sions; 2d, by the sums annually required to discharge the interest and 
 charges of the public debt^ and, '3d, by so much of the duties on merchan- 
 dise and tonnage as would be necessary, together with the preceding re- 
 sources, to complete the annual investment of $7.300,000. The act not 
 only placed the reimbursement of the principal, but also the payment on 
 
 (43) See the 22d section of the act of the 4th of August, 1790 : 1 vol. 239. 
 
 (44) See the act of the 8th of May, 1792: 2 vol. 151. 
 
 (45) See the act of the 3d of March, 1795: 3 vol. 221. 
 
 (46) See the act of the Gth of April, 1S02 : 6 vol. 58.
 
 22 
 
 REPORTS OF THE 
 
 [1815. 
 
 account of interest and charges of the public debt, under the superintend- 
 ence of the commissioners; making it their duty to cause the fund to be 
 applied in payment 1st, of such sums as by virtue of any acts they had 
 previously been directed to pay ; 2d, of such sums as may be annually 
 wanted to discharge the interest and charges accruing on any other part of 
 the then debt of the United States ; 3d, of such sums as may be annually 
 required to discharge any instalment of the principal of the then debt; and. 
 4th, as to any surplus, to apply it towards the further and final redemption, 
 by payment or purchase of the then debt, (47) The act of the 10th Novem- 
 ber, 1803, having created six per cent, stock to the amount of $ 11,250,000, 
 in pursuance of the convention for the purchase of Louisiana, added an 
 annual sum of $700,000 to the sinking fund, to be paid out of the duties on 
 merchandise and tonnage, and to be applied by the commissioners to the 
 payment of the public debt, including the Louisiana stock, in the manner 
 above stated. It may be added that the interest on the Louisiana stock is 
 payable in Europe ; but the principal is reimbursable at the Treasury of 
 the United States, in four annual instalments, commencing in 1818. (48) 
 
 It is obvious that a sinking fund of $ 8,000,000 (independent of the gene- 
 ral pledges in prior laws) was ample for the payment of the interest and 
 the principal of a public debt amounting only to the sum of $86,000,000, 
 extinguishing the six per cent, stock in 1818. the deferred stock in 1824, 
 and the Louisiana stock in 1822, as fast as the terms of the contracts and 
 the policy of Government would permit. The general operation of the 
 fund, indeed, has been shown ; but it is proper more particularly to add 
 that, on the 1st of January. 1815, there had been transferred to the credit 
 of the commissioners, in the books of the Treasury, an amount of public 
 debt equal to the sum of $33,873,463 98, of the folio wing denominations, 
 to wit : 
 
 1. FOREIGN DEBT. 
 
 3 per cent, stock 
 4^- per cent, stock 
 
 4 per cent, stock 
 
 $8,200,000 00 
 
 820,000 00 
 
 3,180,000 00 
 
 2. DOMESTIC DEBT. 
 
 $12,200,000 00 
 
 6 per cent, stock 
 3 per cent, stock - \ 
 
 Deferred 6 per cent, stock 
 8 per cent, stock 
 Exchanged 6 per cent, stock 
 Commuted 6 per cent, stock 
 4^ per cent, stock 
 5^- per cent, stock 
 Navy 6 per cent, stock - 
 Louisiana 6 per cent, stock 
 6 per cent, stock of 1812 
 
 $1,946,026 92 
 
 698,55.5 41 
 1,005,179 83 
 6,482,500 00 
 6,294,051 12 
 1,859,850 70 
 
 176.000 00 
 1,848,900 00 
 
 711,700 00 ' 
 
 326,500 00 
 
 324,200 00 
 21,673,463 98 
 
 $33,873,463 98 
 
 But the charges upon the sinking fund have accumulated, in conse- 
 quence of the late war, to an amount which it has not the capacity to defray ; 
 
 (47) See the act of the 29lh of April, 1802: 6 vol. 103. 
 
 (48) 7 vol. 5.
 
 1815.] SECRETARY OF THE TREASURY. 23 
 
 while its operations, in other respects, have been obstructed by the tempo- 
 rary failure of the revenue arising from duties on merchandise and tonnage, 
 and the protracted embarrassments of the circulating medium : thus 
 
 1. The annual appropriation for the sinking fund amounts to $8,000,000; 
 and consists, at present 
 
 (1.) Of the interest on such parts of the public debt as 
 have been reimbursed or paid off, (which, however, is itself 
 derived from the customs,) estimated on the 30th of Sep- 
 tember, 1815, at the sum of - $1,969,577 64 
 
 (2.) Of the nett proceeds of the sales of 
 the public lands, exclusive of lands sold in 
 the Mississippi Territory, (which, as yet, 
 belong to the State of Georgia,) estimated 
 annually at the sum of - 800,000 00 
 
 (3.) Of the proceeds of duties on imports 
 and tonnage, to complete the annual in- 
 vestments, estimated at the sum of - 5,230,422 36 
 
 $8,000,000 00 
 
 2. The annual charge upon the sinking 
 fund, estimated for 1816, will amount pro- 
 bably to the sum of - 14.524,200 00 
 
 On account of the interest and the instal- 
 ments of the old debt, the sum of - - 3,460,000 00 
 
 On account of the interest of the new 
 debt, computed on a capital of $70,000,000, 
 about the sum of - 4,200,000 00 '.'. : 
 
 On account of the principal and interest 
 of Treasury notes, issued under the acts of 
 the 30th of June, 1812, the 25th of Feb- 
 ruary, 1813, and the 4th of March, 1814, 
 (after allowing for the amount reimbursed, 
 subscribed to the loan, and paid for duties.) 
 about the sum of - - 6,864,20000 
 
 14,524,200 00 
 
 Deficit in the amount of the sinking fund, compared with 
 the charges upon it, estimated for 1816 - - $6,524,200 00 
 
 From this view of the financial operations of the Government, the Sec- 
 retary of the Treasury, with every sentiment of deference and respect, pre- 
 sents the following general conclusions for the consideration of Congress. 
 
 1. That the existing revenue of the United States arises, (1st.) From du- 
 ties on imported merchandise and the tonnage of vessels ; (2d.) Internal du- 
 ties, including the direct tax upon lands, houses, and slaves; and, (3d.) The 
 proceeds of the sales of public lands. But some of these duties and taxes 
 are permanently imposed, and some are limited in their duration. 
 
 2. That the following duties or taxes are either partially or wholly lim- 
 ited in their duration : (1st.) The duties on merchandise and tonnage will be 
 reduced one-half on the 17th of February, 1816 ; except such as are imposed 
 on goods of the like description with the articles of domestic manufacture 
 on which duties have been laid, and included in the general pledge. (2d.) 
 The new duty on salt, the duty on sugar refined within the United States, 
 and the stamp duty on bank notes, promissory notes discounted, and on bills
 
 24 REPORTS OP THE [1815. 
 
 of exchange, are not included in the general pledge, and will wholly cease 
 on the 17th of February, 1816. 
 
 3. That the following duties or taxes are not limited in their duration, 
 and are included in the general pledge : (1st.) The direct tax upon lands, 
 houses, and slaves ; (2d.) The duties upon licenses to distillers of spiritu- 
 ous liquors, and upon the liquors distilled ; (3d.) The duty upon licenses to 
 retailers of wines, spirituous liquors, and foreign merchandise ; (4th.) The 
 duty upon sales at auction ; (5th.) The duty upon carriages and harness ; 
 (6th.) The duties upon household furniture and watches ; (7th.) The du- 
 ties on articles manufactured or made for sale within the United States ; 
 (8th.) The rate of postage. 
 
 4. That the faith of the United States, and the revenue arising from the 
 duties and taxes, which are not limited in their duration, are pledged for the 
 punctual payment of the public debt, principal and interest, according to the 
 terms of the contracts, respectively ; and for creating an adequate sinking 
 fund, gradually to reduce, and eventually to extinguish, the debt. But this 
 pledge will be satisfied by the substitution of other adequate duties or taxes ; 
 and the increase in the proceeds of the duties on merchandise, subsequent 
 to the pledge, affords an advantageous opportunity of making such substi- 
 tution in respect to the more inconvenient and burdensome portion of the 
 internal duties. 
 
 5. That the establishment of a revenue system, which shall not be exclu- 
 sively dependant upon the supplies of foreign commerce, appears, at this 
 juncture, to claim particular attention. 
 
 II. A view of the finances of 1815, with estimates of the public revenue 
 and expenses for 1816. 
 
 At the close of the last session of Congress, the demands upon the Treas- 
 ury were interesting in their nature, as well as great in their amount. 
 Exclusively of the ordinary expenses of the Government, they consisted of 
 demands for the payment of the army, preparatory to its reduction to the 
 peace establishment, with other very heavy arrearages and disbursements 
 in the War and Navy Departments ; for the payment of the dividends on 
 the funded debt, and of the arrearages, as well as the accruing claims, on 
 account of the Treasury note debt ; and for the payment of the Louisiana 
 dividends ; with other considerable debts contracted in Europe, in conse- 
 quence of the late war. 
 
 The efficiency of the means which were possessed for the liquidation of 
 these demands depended upon circumstances beyond the control of the 
 Government. The balance of money in the Treasury consisted of bank 
 credits, lying chiefly in the southern and western sections of the Union. 
 The revenue proceeding from the provision made prior to the last session 
 of Congress xvas comparatively of small amount : the revenue proceeding 
 from the provision made during that session could not be available for a 
 great portion of the present year ; and, in both instances, the revenue was 
 payable in Treasury notes, or it assumed the form of bank credits, at the 
 respective places of collection. The only remaining resources, for imme- 
 diate use, were an additional issue of Treasury notes, and a loan ; but the 
 successful employment of these resources was rendered, for some time, 
 doubtful, by the peculiar situation of the credit and currency of the nation. 
 
 The suspension of specie payments throughout the greater portion of the 
 United States, and the consequent cessation of the interchange of bank 
 notes and bank credits between the institutions of the different States, had
 
 1815.] SECRETARY OF THE TREASURY. 25 
 
 deprived the Treasury of all the facilities of transferring its funds from 
 place to place; and a proposition, which was made at an early period, to the 
 principal banks of the commercial cities on the line of the Atlantic, with 
 a view, in some degree, to restore those facilities, could not be effected for 
 the want of a concurrence in the requisite number of banks. Hence it has 
 happened (and the duration of the evil is without any positive limitation) 
 that, however adequate the public revenue may be, in its general product, 
 to discharge the public engagements, it becomes totally inadequate in the 
 process of its application ; since the possession of public funds in one part, 
 no longer affords the evidence of a fiscal capacity to discharge a public 
 debt in any other part of the Union. 
 
 From the suspension of specie payments, and from various other causes, 
 real or imaginary, differences in the rate of exchange arose between the seve- 
 ral States, and even between the several districts in the same State; and the 
 embarrassments of the Treasury were more and more increased, since 
 Congress had not sanctioned any allowance on account of the rate of ex- 
 change, and the amount of the legislative appropriations was the same, 
 wherever the legislative objects were to be effected. But the Treasury 
 notes partook of the inequalities of the exchange, in the transactions of 
 individuals, although the Treasury could only issue them at their par value. 
 The public stock, created in consideration of a loan, also partook of the in- 
 equalities of the exchange ; although to the Government, the value of the 
 stock created, and the obligation of the debt to be discharged, were the 
 same, wherever the subscription to the loan might be made. Thus, not- 
 withstanding the ample revenue provided, and permanently pledged for 
 the payment of the public creditor ; and notwithstanding the auspicious in- 
 fluence of peace upon the resources of the nation, the market price of the 
 Treasury notes, and of the public stock, was everywhere far below its par 
 or true value, for a considerable period after the adjournment of Congress : 
 vibrating, however, with a change of place, from the rate of 75 to the rate 
 of 90 per cent. Payments in bank paper were universally preferred, during 
 that period, to payments in the paper of the Government ; and it was a 
 natural consequence that, wherever the Treasury failed in procuring a local 
 currency, it failed, also, in making a stipulated payment. 
 
 Under these extraordinary and perplexing circumstances, the great effort 
 of the Treasury was, 1st. To provide promptly and effectually for all urgent 
 demands, at the proper place of payment, and to the requisite amount of 
 funds. 2d. To overcome the difficulties of the circulating medium, as far 
 as it was practicable ; so that no creditor should receive more, and no debtor 
 pay less, in effective value, on the same account, than every other creditor 
 or every other debtor. And, 3d. To avoid any unreasonable sacrifice of the 
 public property, particularly when it must also be attended with a sacrifice 
 of the public credit. It was not expected that this effort would everywhere 
 produce the same satisfaction, and the same results ; but the belief is enter- 
 tained, that it has been successful in the attainment of its objects, to the 
 extent of a just anticipation. 
 
 OF THE ISSUES OF TREASURY NOTES. 
 
 The Treasury notes, which were issued under acts passed prior to the 
 24th of February, 1815, were, for the most part, of a denomination too high 
 to serve as a current medium of exchange ; and it was soon ascertained that 
 the small Treasury notes, fundable at an interest of 7 per cent., though of a 
 convenient denomination for common use, would be converted into stock
 
 26 REPORTS OF THE [1815. 
 
 almost as soon as they were issued. With respect to the first description, 
 therefore, the issue has not been restrained; but with respect to the second 
 description, the issue has been, generally, limited to cases of peculiar urgency ; 
 such as the payment of the army preparatory to its reduction ; the payment 
 of the dividends on the public debt, where the local currency could not be 
 obtained ; and the payment of an inconsiderable amount of miscellaneous 
 claims, apparently entitled to distinction. The annexed table (marked E) 
 contains a statement of the amount of the small Treasury notes which had 
 been issued on the 30th of September, 1815 ; from which it appears 
 
 1. That there had been issued for the payment of the 
 
 army, the sum of - - $1,465,069 00 
 
 2. That there had been issued for the payment of the 
 
 dividends of the public debt, the sum of - - 1,203,10000 
 
 3. That there had been issued for sundry miscellaneous 
 
 claims, the sum of 109,681 00 
 
 4 That there has been sold at an advance, (producing 
 $32,107 64,) for the purpose of raising funds to meet 
 the general engagements of the Treasury, a sum of 1,365,000 00 
 
 4,142,850 00 
 
 OF THE LOAN. 
 
 The act of the 3d of March, 1S15, authorized a loan for a sum not ex- 
 ceeding $18,452,800 ; it was made lawful to accept, in payment of sub- 
 scriptions, such Treasury notes as had been charged on the sinking fund ; 
 and a commission not exceeding one quarter of 1 per cent, was allowed 
 for selling the certificates of stock, or procuring subscriptions to the loan. 
 Under this authority, the annexed notice, (marked F,) dated the 10th of 
 March, 1815, was published, opening a loan for the sum of $12,000,000 ; 
 with a view, 1st, to absorb a portion of the Treasury note debt; 2d, to ob- 
 tain funds for paying the unsubscribed arrearages of that debt ; and, 3d, 
 to aid the Treasury with a supply of the local currencies of different places, 
 in some proportion to the probable amount of the local demands. 
 
 The offers to subscribe to the loan, prior to the 19th of April, 1815, 
 placed (as it was proper to place) money and Treasury notes upon the same 
 footing ; but the offers varied essentially in the terms and conditions that 
 were annexed to them ; and, in point of fact, no direct offer was made to 
 subscribe at a higher rate than 89 per cent., while some of the offers were 
 made at a rate even lower than 75 per cent. Upon this experiment, there- 
 fore, it was seen at once that the new situation of the Treasury required a 
 new course of proceeding; and that neither the justice due to the equal rights 
 of the public creditor, nor a fair estimate of the value of the public property, 
 nor an honorable regard for the public credit, would permit the loan to 
 assume the shape and character of a scramble, subservient to the specula- 
 tions which create what is called a market price, and shifting in every town 
 and village of every State, according to the arbitrary variations of what is 
 called the difference of exchange. 
 
 In this view of the subject, all the offers of subscription to the loan, made 
 in the first instance, were declined ; but it was declared, at the same time, 
 that offers at the rate of 95 per cent, would be accepted. The rate thus pro- 
 posed was adopted upon a consideration of the value of the stock, of the 
 equitable as well as legal claim of the holders of Treasury notes, and of the
 
 1815.] 
 
 SECRETARY OF THE TREASURY. 
 
 real condition of the public credit. The objects of the loan being (as al- 
 ready stated) to absorb a portion of the Treasury note debt, and to acquire a 
 sufficiency of local currency for local purposes, the price of the stock, at the 
 Treasury, was, of course, independent of the daily up-and-down prices of 
 the various stock markets in the Union, and could only be affected by the 
 progress towards the attainment of those objects. Thus, while the wants of 
 the Treasury were insufficiently supplied, offers to subscribe were freely ac- 
 cepted ; and the parties were sometimes authorized and invited to increase 
 the amount of their offers ; but where local funds had so accumulated as to 
 approach the probable amount of the local demands, the price of the stock 
 was raised at the Treasury; and w'here the accumulation was deemed 
 adequate to the whole amount of the local demands, the loan was closed. 
 
 The policy of the course pursued at the Treasury was soon demonstrated. 
 Offers of subscription to the loan, at the rate of 95 per cent, payable in 
 Treasury notes, or in money, were presented to a large amount, soon after 
 the rule of the Treasury was declared ; and the annexed table, marked G, 
 will exhibit the progressive and actual state of all the subscriptions, to the 
 30th of September last. 
 
 In the District of Columbia, the money subscriptions (including the sub- 
 scription of certain liquidated claims upon the Treasury) were successive- 
 ly at 95, 96^. 97, and 98 per cent., and finally at par. In the city of Balti- 
 more, the money subscriptions have been at 95 and 96^ per cent. In the 
 city of Philadelphia, the money subscriptions have been entirely at 95 
 per cent. The price was raised at the Treasury, from 95 to 98 per cent, 
 on the ISth of June, (subject, of course, to all unexecuted subscriptions 
 previously accepted or authorized ;) and since that time considerable offers 
 have been received at 95 and 96 per cent., but none have been received at 
 the increased rate of 98 per cent. The subscriptions, payable in Treasury 
 notes, have been made, in all places, at the same rate of 95 per cent, A 
 general abstract of the state of the loan may therefore be reduced to the 
 following form : 
 
 In the District of Columbia, the subscriptions have amounted 
 
 1. In money, to the sum of - $2,282,03738 
 
 2. In Treasury notes, to the sum of - 257,276 65 
 
 In 'Baltimore, the subscriptions have 
 amounted 
 
 1. In money, to the sum of - 1,994,818 50 
 
 2. In Treasury notes, to the sum of - 608,661 90 
 
 In Philadelphia, the subscriptions have 
 amounted 
 
 1. In money, to the sum of - 1,845,000 00 
 
 2. In Treasury notes, to the sum of 1,260,568 69 
 
 In New York, the subscriptions have 
 amounted 
 
 1. In money, to the sum of . 601 44 
 
 2. In Treasury notes, to the sum of - 658,371 61 
 
 $2,539,314 03 
 
 2,603,480 40 
 
 3,105.568 69 
 
 In Rhode Island, the subscriptions have amounted, in 
 Treasury notes, to the sum of - 
 
 658,973 05 
 132,020 69
 
 28 REPORTS OF THE [1815. 
 
 In Massachusetts, the subscriptions have amounted, in 
 Treasury notes, to the sum of $ 97,301 32 
 
 In New Hampshire, the subscriptions have amounted, in 
 Treasury notes, to the sum of 52,386 20 
 
 In North Carolina, the subscriptions have amounted, in 
 Treasury notes, to the sum of 95,000 00 
 
 $9,284,044 38 
 
 i .,-, 
 
 Having thus absorbed a portion of the Treasury note debt, and deeming 
 the Treasury to be possessed of a sufficient supply of the local currency of 
 the places at which the Treasury notes, unsubscribed, and in arrears, were 
 payable by law, except in the cities of New York and Boston, the Secre- 
 tary of the Treasury proceeded to assign funds for the payment of the 
 Treasury notes, and to give notice thereof in the form of the annexed copies, 
 marked respectively H and I, in pursuance of the act of Congress passed 
 on the 3d of March, 181 5. As a sufficient supply of the local currencies of 
 Boston and New York had not been obtained, the overture was made, in 
 the same notice, to discharge the Treasury notes payable in those cities, 
 and in arrears, by accepting them in subscriptions to the loan at the rate of 
 95 per cent., by exchanging them for other Treasury notes, in which the 
 interest due should be included as principal ; or by giving drafts for the 
 amount upon any of the banks in which the Government possessed funds. 
 This overture is still open to the consideration and acceptance of the hold- 
 ers of the Treasury notes in question ; and has been accepted in the shape 
 of subscriptions to the loan, to a considerable extent. Since the 30th of 
 September, these amount, including some subscriptions, the details of which 
 have not yet been completed, to more than two millions of dollars. 
 
 OF THE TRANSFER OF BALANCES OF APPROPRIATIONS AND OF REVENUE^ 
 
 FROM 1814 TO 1815. 
 
 In the administration of the finances, it has been the practice to consider 
 the demands and the supplies of each year as distinct subjects for legisla- 
 tive provision, independent of the balances of appropriations, or of revenue, 
 existing at the close of the preceding years. The same course will now be 
 pursued, but with a few explanatory remarks. The annual appropriations 
 have never been entirely absorbed during the year for which they were 
 made ; and the credit given by law for payments, in every branch of the 
 revenue, necessarily introduces a discrimination between the amount of 
 duties which accrues within the year, as a debt to the Government, and the 
 amount which is paid within the year, as money into the Treasury. The 
 annual appropriations, however, are not charged upon the revenue of the 
 year, specifically, in which they are made ; and, in point of fact, they are 
 satisfied, whenever demanded, out of any unappropriated money in the 
 Treasury, without reference to the time when the revenue accrued, or when 
 the money was actually received at the Treasury. 
 
 The inconvenience of continuing appropriations in force, which were lia- 
 ble to be drawn from the Treasury during an indefinite period, induced Con- 
 gress to enact, in the year 1795, (49) that any appropriations (except perma- 
 nent appropriations for the interest of the funded debt, or appropriations for 
 the payment of loans and the accruing interest, for the sinking fund, and 
 
 (49) See the 16th section of the act of the 3d of March, 1795: 3 vol. 232.
 
 1S15.] 
 
 SECRETARY OF THE TREASURY. 
 
 29 
 
 for purposes which specially require, by law, a longer duration) remaining 
 unexpended for more than two years after the expiration of the calendar 
 year in which the act of appropriation was passed, should cease and deter- 
 mine, and that the unexpended sum should be carried to an account on 
 the books of the Treasury, to be denominated "the surplus fund." By the 
 operation of this provision, no ordinary appropriation can now survive the 
 specified period of two years; and notwithstanding the formal designation 
 of a particular account, in which the entry shall be made, the sum disen- 
 gaged by the determination of each appropriation becomes again an undis- 
 tinguishable part of the public treasure, which is subject to the future dis- 
 positions of the Legislature. 
 
 With these remarks, it will be useful, for the purposes of general informa- 
 tion, to exhibit the gross amount of the balances of the appropriations for 
 the year 1814, transferred to the year 1815, without entering into a com- 
 parative detail of the appropriations and of the revenues during the par- 
 ticular year in which the appropriations were made by law. Thus, 
 The gross amount of the appropriations for 1814, including the aggregate 
 of the balances of appropriations for the year 1813. amounted to the 
 sum of '- $55.978,464 20 
 
 Of this, there was paid on or before the 31st of December, 
 1814, the sum of $38,028,230 32 
 
 And on the 1st of January, 1815, there 
 was carried to. the surplus fund the 
 sum of - 592,309 99 
 
 38,620,540 31 
 
 Leaving, as a general balance of the appropriations of 
 
 1814, payable at the Treasury in 1815, the sum of - $17,357,923 89 
 
 OF THE DEMANDS ON THE TREASURY FOR 1815. 
 
 The demands authorized by acts of appropriation during the year 1815, 
 
 (exclusively of certain indefinite appropriations, the amount of which is 
 
 not yet ascertained,) were the following : 
 
 For civil, diplomatic, and miscellaneous expenses, besides the unascer- 
 tained product of fines, penalties, and forfeitures, assigned to defray the 
 charges of courts, the sum of - $3,080,656 22 
 
 For military expenses, including those of 
 the Indian department, and the perma- 
 nent appropriation of $200,000 for 
 arming and equipping the militia, the 
 sum of . 5,618,790 41 
 
 For naval expenses, including the annual 
 appropriation of 200,000 dollars for the 
 purchase of timber - - 5,233,02200 
 
 For the public debt, to wit : 
 
 The interest on the debt contracted before 
 
 th -e war . 1,900,000 00 
 
 The interest on the debt contracted since 
 
 the war, including the loan of 1815, and 
 
 excluding the interest of Treasury notes 3,560,000 00 
 The interest of 5f per cent, per annum, 
 
 upon Treasury notes, outstanding on the
 
 30 
 
 REPORTS OF THE 
 
 [1815. 
 
 1st January, 1815, including notes due 
 in 1814, and not paid, (the principal be- 
 ing then 10,646,480 dollars,) the sum of $575,000 00 
 
 The annual reimbursement of the princi- 
 pal of the old 6 per cent, and deferred 
 stocks, the sum of - - 1,590,000 00 
 
 The principal of Treasury notes payable 
 in 1814, and the 1st January, 1815, but 
 not then paid, the sum of ' - 2,799,200 00 
 
 The principal of Treasury notes payable 
 in 1815, and the 1st January, 1816, the 
 sum of - 7,847,280 00 
 
 The principal of temporary loans payable 
 in 18 M, but not then paid - - 500,00000 
 
 $18,771,480 00 
 
 The amount of the appropriations and of demands for 
 the public debt for 1815, being the sum of - $32,703,948 63 
 
 The total amount, therefore, demandable at the Trea- 
 sury during the year 1815, was - $50,061,87195 
 
 Consisting of appropriations made prior 
 to that year, and unsatisfied at its com- 
 mencement, amounting to - $17,357,923 89 
 
 And of appropriations and demands on ac- 
 count of public debt, made and arising 
 during the year 1815, amounting to - 32,703,948 06 
 
 $50,061,871 95 
 
 OF THE WAYS AND MEANS OF THE TREASURY, FOR THE YEAR 1815. 
 
 These may be considered in a twofold aspect: 1. As to the ways and 
 means placed by the laws within the power of the Treasury; and. 2. The 
 amount capable of being realized, or made actually available by the Trea- 
 sury, during the year. 
 
 Under the first view, the ways and means consisted 
 
 1. Of the cash in the Treasury at the commencement of 
 the year, which amounted to 
 
 2. Of the outstanding revenue which accrued prior to the 
 year 1815, and remained unpaid at its commencement, 
 estimated, exclusive of the sums due for public lands, 
 
 at about - 4,600,000 00 
 
 3. Of the revenue accruing in the year 1815, estimated 
 at $38,850,000, viz : - 
 
 Customs - $25,000,000 
 
 Direct tax, nett product - 5,400,000 
 
 Internal duties, do. V - - 7,000,000 y' 
 
 Public lands - 1,000,000 
 
 Postage, and incidental receipts 450,000 
 
 4. Of the unexecuted authority to borrow 
 money, and to issue Treasury notes, 
 
 38,850,000 00
 
 1S15.] 
 
 SECRETARY OF THE TREASURY. 
 
 31 
 
 conferred by acts of Congress passed 
 
 prior to the year 1815, viz,: 
 
 The loan act of March 14, 1812 $765,300 
 
 The loan act of March 24, 1814 8,562,119 
 
 The loan act of November 15, 1814 - 3,000,000 
 
 Treasury note act of March 4, 1814 2,772,720 
 
 Treasury note act of December 26, 1814, 
 
 estimated at - 8,600,000 
 
 5. Of the authority to borrow money, 
 and to issue Treasury notes, conferred 
 by acts of Congress passed in the year 
 1815. viz: 
 
 The loan act of March 3, 1815 - 18,452,800 
 
 The loan act of February 13, 1815, (for 
 
 public buildings in Washington) 500,000 
 
 Treasury note act of February 24, 1815, 
 
 (exclusive of the re-issues authorized 
 
 by this act) - - 25,000,000 
 
 f!2,327,419 00 
 
 11,372,720 00 
 
 43,952,800 00 
 $112,629,937 63 
 
 This great apparent surplus of ways and means within the power of the 
 Treasury arose, in part, from the great increase in the amount of the cus- 
 toms accruing in the year 1815, which, instead of $4,000,000, the amount 
 estimated prior to the peace, will, probably, in consequence of that event, 
 amount to the sum of $25,000,000, as here stated. A great portion, also, 
 of the sums authorized to be borrowed or raised upon Treasury notes, 
 it was evident, could not be obtained or raised within the year ; and the 
 several successive acts by which the authority was given, although they 
 were nominally accumulative, were actually the result of attempts to vary 
 or modify this authority in such way as to render it more easy or more 
 effectual in its execution. 
 
 The second view of the ways and means for the year 1815 exhibits the 
 amount actually realized and received into the Treasury during the year. 
 As the year is not yet terminated, this can only be given by way of esti- 
 mate. The result will, probably, not differ materially from the following : 
 
 1. Cash in the Treasury at the commencement of the year $1,526,998 63 
 
 2. Receipts from revenue, including that which was out- 
 
 standing at the commencement of the year, viz : 
 Customs $8,000,000 
 
 Direct taxes - 2,200,000 
 
 Internal duties - ; ' \ 4,700,000 
 
 Public lands - 1,000,000 
 
 Postage and incidental receipts - 450,000 
 
 16,350,000 00 
 
 3. Receipts from loans and Treasury notes : 
 
 Loans under the act of March 14. 1812 - 50,000 00 
 Loans under the act of Nov. 15, 1814 - 950,000 00
 
 32 
 
 REPORTS OF THE 
 
 [1815. 
 
 Loans under the act of 
 
 March 3, 1815 - $9,284,044 38 
 
 Do. temporary loans - 650,000 00 
 
 : $9,934,044 38 
 
 Loans under the act of February 13, 1815 100,000 00 
 
 Amount actually borrowed, to the 30th of 
 September, 1815, per statements an- 
 nexed, marked G and K 
 
 Amount estimated to be borrowed, from 
 
 the 1st October to 31st December, 1815 3,000,000 00 
 
 - 11,034,044 38 
 
 Treasury notes. Amount issued prior to 
 
 the 1st of October, 1815 : 
 1. Treasury notes bearing interest under 
 
 the act of March 4, 1814- $2,772,720 
 Under the act of December 
 
 26, 1814 - - 8,318,400 
 
 Under the act of February 
 
 24, 1815 - 694,600 
 
 14,034,044 38 
 
 Per statement annexed, 
 
 marked L - 11,785,720 
 
 2. Small Treasury notes, 
 
 not bearing interest under 
 
 the act of February 24, 
 
 1815, amount issued and 
 
 re-issued, per statement 
 
 annexed, marked E 
 
 Amount estimated to be is- 
 sued and re-issued, from 
 the 1st of October to the 
 31st of December, 1815 - 
 
 4,152,850 
 15,938,570 
 
 16,938,570 00 
 
 Making the total amount estimated to be actually re- 
 ceived into the Treasury, during the year 1815 
 
 $48,849,613 01 
 
 The application of the moneys actually received into the Treasury, during 
 the year 1815, will be as follows : To the 30th of September, the payments 
 have amounted to the following sums nearly ; the accounts not being yet 
 made up, the precise amount cannot be given : 
 For civil, diplomatic, and miscellaneous expenses 
 ^Military service 
 jNaval service - 
 Public debt, (exclusive of the sum of $300,000 repaid by 
 
 the commissioner of loans for Georgia) 
 
 $2,537,000 00 
 
 15,190,144 71 
 
 7,050,000 25 
 
 8,909,178 22 
 $33,686,323 18
 
 1815.] SECRETARY OF THE TREASURY. 33 
 
 During the fourth quarter of the year, the payments are 
 estimated to amount to the following sums, viz : 
 For civil, diplomatic, and miscellaneous. 
 
 expenses $500,000 
 
 Naval service - - 1,500,000 
 
 Public debt, to the 1st January, 1816, in- 
 clusive 3,000.000 
 
 $5.000,000 00 
 
 $38,686,323 18 
 As the receipts into the Treasury, during the year, have 
 
 been estimated at - 48,849,613 0.1 
 
 The sum left in the Treasury,.at the end of the year, wjll be $10,163,289 83 
 
 And will consist principally of Treasury notes, paid on account of the rev- 
 enue and of loans. 
 
 OF' THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURES FOR 
 
 1816. 
 
 In the consideration of this subject, it is proper to premise, that the rev- 
 enue of 1816 must be charged with the payment of a considerable amount 
 of the unliquidated debts incurred during the war ; and, consequently, that 
 the proportions of revenue and expenditure for that year cannot be reduced 
 by the scale of a peace establishment. The arrearages in the War and 
 Navy Departments, and, generally, the outstanding balance of the floating 
 public debt,' including Treasury notes and temporary loans, must be satis- 
 fied, before a permanent and uniform arrang 0111611 * f tne finances can be 
 effected ; but it is believed that the period of a single year will be sufficient 
 for that purpose. 
 
 It is also proper to premise, that alt'iough the estimates of the demands 
 on the- Treasury for 1816 may be satisfactorily made, there is no settled 
 ground upon which estimates of <he ways and means can be confidently 
 iformed. The entire system of external and internal taxation must neces- 
 sarily be revised, during the present session of Congress; and the sources, as 
 well as the product, of the public revenue, can only be ascertained from the 
 result of the legislative deliberations. In order, however, to obviate this 
 difficulty as far as it is practicable, distinct statements will be presented for 
 1816 1st. Of the probable demands on the Treasury ; 2dly. Of the reve- 
 nue, estimated According to the laws now in force ; and, 3dly. Of the reve- 
 nue, estimated according to the modifications which will be respectfully 
 submitted. 
 
 I. OF THE PROBABLE DEMANDS ON THE TREASURY. 
 
 The amount of the civil, diplomatic, and miscellaneous 
 expenses, is estimated at the sum of $1,800,000 
 
 The amount of the military expenses is estimated at the 
 sum of - . 14,549,246 
 
 For the military establishment of 1816 $5,112,159 
 
 For the arrearages of 1815, beyond the 
 amount of the appropriations - - 9,437.087 
 
 $14,549,246 
 VOL. ii. 3
 
 34 
 
 REPORTS OF THE 
 
 [1815. 
 
 The amount of the naval expenses (supposing them to be 
 reduced, on the peace establishment, to one-half of the amount 
 appropriated for 1815, and adding the annual appropriation of 
 200,000 dollars for the purchase of timber,) is estimated at the 
 sum of 
 
 The amount of the payments required on account of the 
 public debt is estimated at the sum of 
 
 For the interest and annual reimbursement of the principal 
 
 of the funded debt, prior to the war 
 
 For the interest on the funded debt created since 
 the war, estimated on a capital of .$70,000,000 
 
 For the balance of principal and interest on 
 Treasury notes of every denomination now due, 
 or payable in 1815 and 1816 ; or estimated to be 
 paid in those years, by being received for du'ties 
 and taxes, as set forth in the annexed table, mark- 
 ed L 
 
 For the amount of temporary loans due to the 
 State Bank of Boston, ($500,000,) and the Me- 
 chanics' Bank of New York, ($200,000) . 
 
 $3,460,000 
 4.200,000 
 
 - 15,458,513 
 
 . 700,000 
 
 $23,818,513 
 
 From this aggregate of the demands for 1816, the charges 
 of a temporary nature \*jing deducted, to wit : 
 
 Deduct the amount of Uie arrearages for the , 
 military service. of L815 : $9,437,087 
 
 And the amount of the floating debt to be liqui- 
 dated iu 1816 . - 16,158,513 
 
 There will remain as the probable aimim! expenditure of 
 the peace establishment, independent of an j addition to the 
 sinking fund, the sum of - : i 
 
 $2,716,510 
 23,818,513 
 
 42,884,269 
 
 25,595,600 
 
 - $17,288,669 
 
 II. OF THE REVENUE FOR 1816, ESTIMATED 
 I^AWS NOW IN FORCE. 
 
 ACCORDING TO THE 
 
 By the laws now in force, the revenue arising from customs during the 
 year 1816 will be effected in the following manner. The present rates of 
 duties continue until the 18th of February, 1816, when the duty on salt im- 
 ported will cease, and the rates of duties on merchandise of every descrip- 
 tion imported in American vessels will fall to one-half of tta existing 
 amount, with the exception of certain manufactured articles, being of the 
 same kinds as the manufactured articles on which internal duties have been 
 imposed ; the duties on the imported articles continuing at the existing rates, 
 so long as the existing internal duties shall be continued upon the corres- 
 ponding articles of domestic manufacture. On the 18th of February, the 
 extra duties on merchandise imported in foreign vessels, which is now 15^ 
 per cent, on the amount of the duty in American vessels, will fall to 10 per 
 cent, on that amount; and the tonnage duty on foreign vessels, which is now
 
 1815.] SECRETARY OF THE TREASURY. 35 
 
 two dollars per ton, will fall to fifty cents per ton. The extra duty is also 
 liable to be affected by the operation of the act for abolishing all discrimi- 
 nating duties, upon a basis of natural reciprocity. 
 
 By the laws now in force, the revenue arising from internal duties will 
 be affected in the following manner. The duties on bank notes, on notes 
 discounted by banks, and bills of exchange, (commonly called the stamp 
 duties,) and the duty on refined sugar, will cease on the 18th of February, 
 1816. All the other internal duties, together with the direct tax, and the 
 increased rates of postage, will continue. 
 
 Under these circumstances, the revenue which will accrue to the United 
 States, during the year 1816, is estimated as follows: 
 From customs - - $13,000,000 
 
 From internal duties :?r>:1 ; 1$ ^, 7,000,000 
 
 From direct tax, (nett produce to the Treasury) 5.600,000 
 
 From sales of public lands - 1^000,000 
 
 From postage, and incidental receipts 400,000 
 
 27,000,000 
 
 The sums actually receivable info the Treasury during the year are es- 
 timated as follows : 
 
 From customs > : ->.. $20,000,000 
 
 From internal duties - 6,500,000 
 
 From direct tax, including arrears of 1815 - - 8,500.000 
 
 From the sales of public lands 1,000,000 
 
 From postage, and incidental receipts 400,000 
 
 36,400,000 
 
 If to this be added the probable amount of money in the 
 Treasury at the commencement of the year 1816, which 
 may be estimated, exclusive of Treasury notes paid in 
 previously to that time, on account of revenue and of 
 loans, at the sum of - 3,000,000 
 
 The effective ways and means of 1816 will produce, in the 
 
 whole, the sum of - - 39,400.000 
 
 But as the demands upon the Treasury for the same year 
 will amount, as above stated, to - - 42,884,269 
 
 
 
 There will be left a deficit, to be supplied by means other 
 than the revenue, of the sum of - : r L ;)1 - 3,484,269 
 
 III. OF THE REVENUE FOR 1816, ESTIMATED ACCORDING TO THE MODI- 
 FICATIONS AVHICH WILL BE RESPECTFULLY SUBMITTED. 
 
 , 
 
 From the review of the financial measures of the Government, in refer- 
 ence to the recent state of war, which constitutes the first part of the pre- 
 sent report, it appears that the almost entire failure of the customs, or duties 
 on importations, and the increasing necessities of the Treasury, rendered it 
 necessary to seek for pecuniary supplies in a system of internal duties ; 
 but, both in respect to the subjects of taxation and to the amount of the 
 several taxes, the return of peace has always been contemplated as a per.od 
 for revision and relief. In the fulfilment of that policy, a reduction, of the
 
 36 REPORTS OF THE [1815. 
 
 direct tax ; a discontinuance of taxes which, upon triul, have proved un- 
 productive, as well as inconvenient ; and, above all, the exoneration of do- 
 mestic manufactures from every charge that can obstruct or retard their 
 progress, seem to be the objects that particularly invite the legislative atten- 
 tion. There will still remain, however, a sufficient scope for the operation 
 of a permanent system of internal duties, upon those principles of national 
 policy which have already been respectfully suggested. 
 
 As an equivalent for the diminution of the revenue by the contemplated 
 abolition or reduction of some of the duties and taxes, and in observance of 
 the public faith, which is pledged, in the case of such abolition or reduc- 
 tion, to provide and substitute other duties and taxes equally productive, it 
 is intended respectfully to recommend a continuance of the duty on import- 
 ed salt, and a competent addition to the permanent rates of the duties on 
 merchandise imported. In the general tariff, which has been directed by a 
 resolution of the House of Representatives to be prepared, and which will 
 be submitted to Congress as soon as the materials for forming it call be di- 
 gested and arranged, the subject will .be more distinctly as well as more satis- 
 factorily presented; but as it is not probable that this measure can be so ma- 
 tured as to go into operation on the 18th of February next, it becomes ne- 
 cessary to suggest the expediency of continuing the present rates of duties 
 until the 30th of June; when the new rates, with all the necessary details 
 to give effect to the system, may be introduced, and sufficient notice be given 
 to the merchants to regulate their commercial operations accordingly. 
 
 In relation, then, to the internal duties, it is intended respectfully to re- 
 commend that the duties imposed at the last session of Congress, on vari- 
 ous articles manufactured within the United States, shall be abolished on 
 the 18th day of April next, which will complete the year, commencing from 
 the time the duties went into operation ; that the duty imposed during the 
 last session of Congress, on spirits distilled within the United States, shall 
 be abolished on the 30th day of June next, but that, at the same time, there 
 be added 100 per cent, on the rate of the duty which had been charged on 
 licenses to distillers of spirituous liquors in the year 1813 ; that the duty 
 on household furniture, and on gold and silver watches, be abolished on 
 the 31st day of March next ; that the additional duty imposed during the 
 last session of Congress, on licenses to retail wines, spirituous liquors, and 
 foreign merchandise, be abolished on the 31st day of December, 1816; and 
 that the duties on refined sugar, and the stamp duties, be continued ; and 
 finally, in relation to the direct tax, it is intended respectfully to recommend 
 that, on the 31st day of March next, it be reduced to one-half of its present 
 amount ; that is, to the annual amount of $3,000,000. 
 
 The subtraction from the revenue by these changes and reductions in 
 the direct tax and the internal duties is estimated at the annual sum.of 
 $7,000,000. But the substitutes for supplying the equivalent amount are 
 estimated to produce, 1st, from the increase of the duty on licenses to distil- 
 lers, and the continuance of the stamp duties, and duties on refined sugar, 
 the annual sum of $1,500,000 ; 2d. from the continuance of the duty on 
 imported salt, the annual sum of $500,000 ; and, 3d. from an increase upon 
 the permanent rates of duties on the importation of foreign merchandise, 
 the annual sum of $5,000,000. 
 
 The full effect of the alterations which have been stated will not be devel- 
 oped until some time after the year 1816 ; but if they be adopted, the state 
 
 of the revenue for that year, in the two views of which it is susceptible 1st. 
 
 au j.o a . j i . .
 
 1815.] SECRETARY OF THE TREASURY. 37 
 
 of revenue accruing during the year ; and, 2dly, of money receivable into the 
 Treasury during the year, may be estimated as follows : 
 
 1. The revenue which will accrue in 1816 may be estimated 
 
 From customs - - $17,000,000 
 
 Internal duties - 4,500,000 
 
 Direct tax, (nett product to the Treasury) - 2,700,000 
 
 Sales of public lands - 1,000,000 
 
 Postage, and incidental receipts 400,000 
 
 $25,600,000 
 
 2. The moneys which will be actually receivable into the Treasury, from 
 revenue in 1816. may be estimated 
 
 From the customs" - - $21,000,000 
 
 Internal duties - 5,000,000 
 
 Direct tax, including arrears of 1815 h-jb; - 6,000,000 
 
 Sales of public lands - - -1,000,000 
 
 Postage, and incidental receipts ''ft' 400,000 
 
 $33,400,000 
 
 If to the sum thus estimated to be receivable into, the Trea- 
 sury, from the revenue, during the year 1816 . - $33,400,000 
 
 There be added the money which will probably be in the 
 Treasury at the beginning of the year, - 3,000,000 
 
 The aggregate will be the sum of - 36,400.000 
 
 And the demands being estimated, as above, at - - 42 ; SS4,2C9 
 
 There will be left a deficit of ' -, 
 
 It is here, however, to be recollected, that, the estimate of the demands 
 on the Treasury comprehends the .gross- amount of the arrearages of the 
 War Department, and a provision for the whole of the floating public debt; 
 and although, for the purposes of a legislative appropriation, the aggregate 
 of the expenditures to be authorized for .the year 1816 is necessarily made 
 the basis of the official estimates, yet the uniform experience of the Trea- 
 sury evinces that the demands for a considerable portion of the annual ap- 
 propriation will not be made during the year. 
 
 It may also be observed, that to raise a. revenue by the imposition, or 
 even by the continuance of taxes, adequate to the immediate discharge of 
 every unliquidated demand upon the Treasury, at the close of an expensive 
 war, seems hardly to be necessary under the present circumstances of the 
 country. The product of the revenue, arranged in the manner which has 
 been stated, may be estimated, after the year 1816, at an annual amount of 
 nearly four millions greater than the sum required for the interest on the 
 public debt, and for the probable expenses of the peace establishment. If 
 the public debt, therefore, were increased in the year 1816 by a sum equal 
 to the whole amount of the deficit, as above stated, an equivalent reduction 
 would be effected in less than two years. The unexecuted authority to bor- 
 row money, and to issue Treasury notes, already provided by the acts of 
 Congress, is sufficient to enable the Treasury to meet the deficit in either of
 
 38 REPORTS OF THE [1815. 
 
 these modes, and, consequently, no further legislative aid (except, perhaps, 
 in the modification of the issues of Treasury notes,) appears, at this time, to 
 be required. 
 
 III. Propositions for the improvement and management of the revenue 1 
 and for the support of public credit. 
 
 The propositions which are now to be respectfully submitted, relate 1, 
 to the revenue; 2. to the sinking fund; and 3, to the national circulating 
 medium. 
 
 1. Propositions relating lo the revenue. 
 
 The changes contemplated in the revenue, on the estimates of a peace es- 
 tablishment, having been already stated, as the intended objects of recom- 
 mendation, it is only now necessary to submit to the consideration of Con- 
 gress the measures requiring their sanction for carrying the plan into effect. 
 
 First. It is respectfully proposed that the act of the 1st of July, 1812, 
 imposing an additional duty of 100 per cent, upon the permanent duties on 
 goods, wares, and merchandise imported into the United States from any 
 foreign port or place, and the act of the 29th of July, 1813, imposing 
 a duty upon imported salt, be continued in force until the 30th day of June, 
 1816. 
 
 Second. It is respectfully proposed that the act of the 24th of July. 
 
 1813, imposing a duty on sugar refined within the United States; and the 
 act of the 2d of August, 1813, imposing a duty on bank notes, notes dis- 
 counted, and bills of exchange, be continued by law in force, without 
 limitation, but with proper amendments, to render the collection of the du- 
 ties more equal and more certain; and that the act of the 15th of December, 
 
 1814, imposing duties on carriages, and the harness therefor ; and that so 
 much of the act of the 23d of December, 1814, as relates to the duties on 
 sales at auction, and to the increasing of the rates of postage ; be allowed to 
 remain in force. 
 
 Third. It is respectfully proposed that there be a reduction or modifica- 
 tion in the following taxes and duties : 
 
 1. That the direct tax be reduced from six millions to three millions of dol- 
 lars, for the year 1816, and for each succeeding year. 
 
 2. That the duties on distilled spirits be discontinued after the 30th day 
 of June, 1816; and that the duty on licenses to distillers be raised on that 
 day to double the amount fixed by the act of the 24th of July, 1813. 
 
 3. That the duties on licenses to retailers of wines, spirituous liquors, 
 and foreign merchandise, be reduced to the rates of the year 1813, with 
 proper regard to the periods when licenses commence and expire. 
 
 Fovrlh. It is respectfully proposed that the act of the 18th of January, 
 
 1815, and the act of the 27th of February, 1815, imposing duties on various 
 articles manufactured or made for sale within the United States ; and the 
 act of the 18th of January, 1815, imposing duties on household furniture 
 and watches, be absolutely and entirely repealed. 
 
 Fifth. It is respectfully proposed that the act of the 3d of March, 1815, 
 further to provide for the collection of the duties on imports and tonnage: 
 and the act of the 3d of March, 1815, to fix the compensations and in- 
 crease the responsibility of the collectors of the direct tax and internal du- 
 ties, and for other purposes connected with the collection thereof, so far 
 as it relates to the compensation of the collectors of the direct tax and in- 
 ternal duties, be continued in force, without limitation.
 
 1815.J SECRETARY OF THE TREASURY. 39 
 
 2. Proposition relating- to the sinking fund. 
 
 The sinking: fund, as it is at present constituted, amounts to the annual 
 sum of $8,000,000. 
 
 It is charged, in the first instance, with the payment of the 
 interest, and the annual reimbursement of the principal of the 
 old funded debt, which will require for 1816, and each of the 
 two ensuing years, the sjum of - - $3,460,000 
 
 And it is charged with the payment of the interest, and 
 the eventual reimbursement of the principal of the new funded 
 debt. The interest, computed on a capital of $70,000,000, 
 will require for the year 1816, and each subsequent year, the 
 sum of - - - *,-V 4.200,000 
 
 The total present charge on the sinking fund, on account 
 of the funded debt, being the annual sum of j 4r, ^ $7,660,000 
 
 In 1818, the fund will be released from the annual charge of $1,380,000. 
 accruing upon the old six per cent, stock, as the stock will be then paid and 
 extinguished ; but in the same year it will be subjected to a charge of 
 $3,000,000 for the first instalment of the principal of the Louisiana stock, 
 which will then become payable. In each of the two succeeding years, a 
 similar sum will be payable; and in the year 1821, such sum will be payable 
 as may be necessary to complete the reimbursement of that stock, and which 
 is estimated at $1,923.500. 
 
 The sinking fund is also, at present, charged with the payment of the 
 principal and interest of the Treasury notes issued under the act of the 4th 
 of March, 1814, and prior acts : and of certain temporary loans, obtained 
 under the loan acts of 1812, and of subsequent years. The several acts 
 charging these payments on the sinking fund have directed that such 
 sums, in addition to the annual appropriation of $8,000,000, should be 
 taken from any moneys in the Treasury not otherwise appropriated, as 
 should be necessary to meet and satisfy the demand. The temporary loans 
 and Treasury notes will, therefore, be probably paid, or absorbed, in 1817 ; 
 and it is deemed unnecessary, for the present purpose, to include them in the 
 consideration of the form and extent which it is proposed to give to the 
 sinking fund in that year. 
 
 In 1803, when the sinking fund was established on its present footing, 
 the principal of the public debt was about $86,000,000; and the interest 
 annually payable upon it about $4,500 ; 000. At that time there was 
 assigned to the sinking fund, out of the public revenue, $8,000,000; of 
 which about $3,500,000 were annually applicable to the reduction of the 
 principal of $86,000,000. 
 
 At the commencement of the year 1817, it is estimated that the principal 
 of the funded debt will amount to $110,000,01)0, requiring the sum of 
 $8,150,000 for the payment of its annual interest. If a. sum applicable to 
 the reduction of the principal of the debt were now to be assigned, bearing 
 the same proportion to that principal which the sum assigned in 1804 then 
 bore to the principal, it would amount to about $4,350,000. When it is 
 added, therefore, to the sum of $6.150,000, which is necessary for the pay- 
 ment of the interest, there would be required for the amount now to be set 
 apart, to constitute the sinking fund, the sum of $10,500.000 per annum.
 
 40 REPORTS OF THE [IS 15. 
 
 It is proposed, however, to carry the amount only to the surn'of $10,000,000, 
 which will allow about $3,850,000 as applicable to the reduction of the 
 principal of the debt ; a sum sufficient, if strictly and regularly applied 
 without interruption, upon a compound principal, to pay off the whole of 
 the funded debt in a period less than eighteen years. 
 
 Upon these grounds, then, the Secretary of the Treasury respectfully 
 submits the following : i., ;, 
 
 PROPOSITION. 
 
 That in the year 1817, and annually in every subsequent year, there be 
 appropriated the sum of $2,000,000, in addition to the sum of $8,000,000 
 now annually appropriated for the payment of the interest and principal of 
 the public debt; that the payment of this additional sum be made out of the 
 proceeds of the revenue derived from the customs, the sales of public 
 lands, and the internal duties, or from either of them, available after the 
 payment of the sums for which they are now respectively pledged or ap- 
 propriated; and that the said additional sum of $2,000,000 annually be 
 payable to the commissioners of the sinking fund, to be applied by them 
 in the same manner as the moneys which they are now entitled by law to 
 receive: that is to say, 1st, to the paymen,t of the interest on the public 
 funded debt; 2dly, to the reimbursement of the principal, from time to time, 
 as the same, or any portion of it, shall become reimbursable, according to 
 the terms of the contracts by which it has been created ; and 3dly, after 
 having answered these purposes, if there shall remain a surplus at their 
 disposal, to the purchase of such parts "of the public funded debt as shall 
 appear to them to be most for the advantage of the United States, in the 
 manner prescribed by law, and. at a rate not exceeding the par value. 
 
 3. Proposition relating to the national circulating medium. 
 
 The delicacy of this subject is only equalled by its importance. In pre- 
 senting it, therefore, to the consideration of Congress, there is. occasion for 
 an implicit reliance upon the legislative indulgence. 
 
 By the constitution of the United States, Congress is expressly vested 
 with the power to coin money, to regulate the value of the domestic and 
 foreign coins in circulation, and ( as a necessary implication from positive 
 provisions) to emit bills of credit"; while it is declared, by the same instru- 
 ment, that " no State shall coin money, or emit bills of credit." (50) Under 
 this constitutional authority, the money of the United States has been estab- 
 lished by law, consisting of coins made with gold, silver, or copper. (51) 
 All foreign gold and silver coins, at specified rates, were placed, in the first 
 instance, upon the same footing with the coins of the United States ; but 
 they ceased ( with the exception of Spanish milled dollars, and parts of such 
 dollars ) to be a legal tender for the payment of debts and demands, in the 
 year 1809. (52) 
 
 The constitutional authority to emit bills of credit has also been exercised 
 in a qualified and limited manner. During the existence of the Bank of the 
 United States, the bills or notes of the corporation were, declared by law to 
 be receivable in all payments to the United States; and the Treasury notes 
 which have been since issued for the services of the late war, have been en- 
 dowed with the s.ame quality. But Congress ha never recognised, by law, 
 
 (50) Constitution, art. 1. sec. P. 10. ' 
 
 (51) See '2 vol. 37. 120. 158. 1G1 : 3vol. 7. 221. 31G: 4 vol. G2. 375. 39,'-. 
 (5-2) See 2 vol. 1G1 : 4 vol. G2: 8 vol. 66.
 
 1815.] SECRETARY OF THE TREASURY. 41 
 
 the notes of any other corporation, nor has it ever authorized an issue of 
 bills of credit to serve as a legal currency. The acceptance of the notes of 
 banks which are not established by the federal authority, in payments to 
 the United States, has been properly left to the vigilance and discretion of 
 the Executive department; while the circulation of the Treasury notes, 
 employed either to borrow money or to discharge debts, depends entirely 
 (as it ought to depend) upon the option of the lenders and creditors to re- 
 ceive them. 
 
 The constitutional and legal foundation of the monetary system of the 
 United States is thus distinctly seen; and the power of the Federal Govern- 
 ment to institute and regulate it, whether the circulating medium consist of 
 coin or of bills of credit, must, in its general policy, as well as in the terms 
 of its investment, be deemed an exclusive power. It is true, that a system 
 depending upon the agency of the precious metals will be affected by the 
 various circumstances which diminish their quantity or deteriorate their 
 quality. The coin of a State sometimes vanishes under the influence of 
 political alarms, sometimes in consequence of the explosion of mercantile 
 speculations, and sometimes by the drain of an unfavorable course of trade. 
 But, whenever the emergency occurs that demands a change of system, it 
 seems necessarily to follow that the authority which was alone competent 
 to establish the national coin, is alone competent to create a national substi- 
 tute. It has happened, however, that the coin of the United States has 
 ceased to be the circulating medium of exchange, and that no substitute 
 has hitherto been provided by the national authority. During the last year, 
 the principal banks established south and west of New England resolved 
 that they would no longer issue coin in payment of their notes, or of the 
 drafts of their customers for money received upon deposite. In this act 
 the Government of the United States had no participation; and yet the im- 
 mediate effect of the act was to supersede the only legal currency of the 
 nation. By this act, although no State can constitutionally emit" bills of 
 credit, corporations, erected by the several States, have been enabled to cir- 
 culate a paper medium, subject to many of the practical inconveniences of 
 the prohibited bills of credit. 
 
 It is not intended, upon this occasion, to condemn, generally, the suspen- 
 sion of specie payments; for appearances indicated an approaching crisis, 
 which would, probably, have imposed it as a measure of necessity, if it had 
 not been adopted as a measure of precaution. But the danger which ori- 
 ginally induced, and perhaps justified the conduct of the banks, has passed 
 away ; and the continuance of the suspension of specie payments must be 
 ascribed to a new series of causes. The public credit and resources are 
 no longer impaired by the doubts and agitations excited during the war, by 
 the practices of an enemy, or by the inroads of an illicit commerce ; yet 
 the resumption of specie payments is still prevented, either by the reduced 
 state of the national stock of the precious metals, or by the apprehension of 
 a further reduction to meet the balances of foreign trade, or by the redun- 
 dant issues of bank paper. The probable direction and duration of these 
 latter causes constitute, therefore, the existing subject for deliberation. 
 While they continue to operate, singly or combined, the authority of the 
 States individually, or the agency of the State institutions, cannot afford a 
 remedy commensurate with the evil; and a recurrence to the national au- 
 thority is indispensable for the restoration of a national currency.
 
 42 .REPORTS OF THE [1815. 
 
 In the selection of the means for the accomplishment of this important 
 object, it may be asked, 1st, Whether it be practicable to renew the circu- 
 lation of the gold and silver coins ? 2dly, Whether the State banks can be 
 successfully employed to furnish a uniform currency? 3dly, Whether a na- 
 tional bank can be employed more advantageously than the State banks for 
 the same purpose? and, 4thly, Whether the Government can, itself, supply 
 and maintain a paper medium of exchange, of permanent and uniform 
 value throughout the United States ? 
 
 1st. As the United States do not possess mines of gold or silver, the sup- 
 ply of those metals must, in a time of scarcity, be derived from foreign com- 
 merce. If the balance of foreign commerce be unfavorable, the supply 
 will not be obtained incidentally, as in the case of the returns for a surplus 
 of American exports, but must be the subject of a direct purchase. The 
 purchase of bullion is, however, a common operation of commerce, and 
 depends, like other operations, upon the inducements to import the article. 
 
 The inducements to import bullion arise, as in other cases, from its be- 
 ing cheap abroad, or from its being dear at home. Notwithstanding the 
 commotions in South America, as well as in Europe, there is no reason to 
 believe that the quantity of the precious metals is now (more than at any 
 former period) insufficient for the demand throughout the commercial and 
 civilized world. The price may be higher in some countries than in others, 
 and it may be different in the same country at different times; but, general- 
 ly, the European stock of gold and silver has been abundant, even during 
 the protracted war which has afflicted the nations of Europe. 
 
 The purchase of bullion in foreign markets, upon reasonable terms, is 
 then deemed practicable; nor can its importation into the United States 
 fail, eventually, to become profitable. The actual price of gold and silver, 
 in the American market, would, in itself, afford for some time an ample 
 premium ; although the fall in the price must, of course, be proportionable 
 to the increase of the quantity. But it is within the scope of a wise policy 
 to create additional demands for coin, arid in that way to multiply the in- 
 ducements to import and retain the metals of which it is composed. For 
 instance: the excessive issue of bank paper has usurped the place of the na- 
 tional money; and, under, such circumstances, gold and silver will always 
 continue to be treated as an article of merchandise: but it is hoped that the 
 issue of bank paper will be soon reduced to its just share in the circulating 
 medium of the country; and, consequently, that the coin of the United 
 States will resume its legitimate capacity and character. Again: The Trea- 
 sury, yielding from necessity to the general impulse, has hitherto consent- 
 ed to receive bank paper in payment of duties and taxes ; but the period 
 approaches when it will probably become a duty to exact the payment 
 either in Treasury notes, or in gold or silver coin, the lawful money of the 
 United States. Again: The institutions which shall be deemed proper, 
 in order to remove existing inconveniences, and to restore the national cur- 
 rency, may be so organized as to engage the interests and enterprise of in- 
 dividuals in providing the means to establish them, And, finally, such 
 regulations may be imposed upon the exportation of gold and silver as will 
 serve, in future, to fix and retain the quantity required for domestic uses. 
 
 But it is further believed, that the national stock of the precious metals 
 is not so reduced as to render the operation of reinstating their agency in 
 the national currency either difficult or protracted. The quantity actually 
 possessed by the country is considerable ; and the resuscitation of public
 
 1815.] SECRETARY OF THE TREASURY. 43 
 
 confidence in bank paper, or in other substitutes for coin, seems alone to be 
 wanting, to render it equal to the accustomed contribution for a circulating 
 medium. In other countries, as well as in the United States, the effect of 
 an excessive issue of paper money to banish the precious metals has been 
 seen, and under circumstances much more disadvantageous than the present. 
 The effect of public confidence in national institutions to recall the precious 
 metals to their uses in exchange, has also been experienced. 
 
 Even, however, if it were practicable, it has sometimes been questioned 
 whether it would be politic, again to employ gold and silver for the purposes 
 of a national currency. It was long and universally supposed, that, to main- 
 tain a paper medium without depreciation, the certainty of being able to 
 convert it into coin was indispensable; nor can the experiment which has 
 given rise to a contrary doctrine be deemed complete or conclusive. But 
 whatever may be the issue of that experiment elsewhere, a difference in 
 the structure of the government, in the physical as well as political situa- 
 tion of the country, and in the various departments of industry, seems to 
 deprive it of any important influence as a precedent for the imitation of the 
 United States. 
 
 In offering these general remarks to the consideration of Congress, it is 
 not intended to convey an opinion that the circulation of the gold and silver 
 coins can at once be renewed. Upon motives of public convenience, the 
 gradual attainment of that object is alone contemplated ; but a strong though 
 respectful solicitude is felt that the measures adopted by the Legislature 
 should invariably tend to its attainment. 
 
 2d. Of the services rendered to the Government, by some of the State 
 banks, during the late war. and of the liberality by which some of them 
 are actuated in their intercourse with the Treasury, justice requires an ex- 
 plicit acknowledgment. It is a fact, however, incontestably proved, that 
 those institutions cannot, at this time, be successfully employed to furnish a 
 uniform national currency. The failure of one attempt to associate them, 
 with that view, has already been stated. Another attempt, by their agency, 
 in circulating Treasury notes, to overcome the inequalities of the exchange, 
 has only been partially successful. And a plan recently proposed, with the 
 design to curtail the issues of bank notes, to fix the public confidence in the 
 administration of the affairs of the banks, and to give to each bank a legiti- 
 mate share in the circulation, is not Ifkely to receive the general sanction of 
 the banks. The truth is, that the charter restrictions of some of the banks, 
 the mutual relation and dependance of the banks of the same State, and even 
 of the banks of the different States, and the duty which the directors of each 
 bank conceive they owe to their immediate constituents, upon points of secu- 
 rity or emolument, interpose an insuperable obstacle to any voluntary arrange- 
 ment, upon national considerations alone, for the establishment of a national 
 medium through the agency of the State banks. It is, nevertheless, with 
 the State banks that the measures for restoring the national currency of 
 gold and silver must originate ; for, until their issues of paper be reduced, 
 their specie capitals be reinstated, and their specie operations be commenced, 
 there will be neither room, nor employment, nor safety, for the intro- 
 duction of the precious metals. The policy and the interest of the State 
 banks must, therefore, be engaged in the great fiscal work, by all the means 
 which the Treasury can employ, or the legislative wisdom shall provide. 
 
 3d. The establishment of a national bank is regarded as the best, and 
 perhaps the only adequate resource, to relieve the country and the Govern-
 
 44 REPORTS OF THE [1815. 
 
 ment from the present embarrassments. Authorized to issue notes which 
 will be received in all payments to the United States, the circulation of its 
 issues will be co-extensive with the Union ; and tliere will exist a constant 
 demand, bearing a just proportion to the annual amount of the duties and 
 taxes to be collected, independent of the general circulation, for com- 
 mercial and social purposes. A national bank will, therefore, possess the 
 means and the opportunity of supplying a circulating medium, of equal use 
 and value in every State, and in every district of every State. Established 
 by the authority of the Government of the United States ; accredited by the 
 Government to the whole amount of its notes in circulation ; and intrusted, 
 as the depository of the Government, with all the accumulations of the pub- 
 lic treasure ; the national bank, independent of its immediate capital, will 
 enjoy every recommendation which can merit and secure the confidence of 
 the public. Organized upon principles of responsibility, but of indepen- 
 dence, the national bank will be retained within its legitimate sphere, of ac- 
 tion, without just apprehension from the misconduct of its directors, or 
 from the encroachments of the Government. Eminent in its resources and 
 in its example, the national bank will conciliate, aid, and lead the State 
 banks in all that is necessary for the restoration of credit, public and private ; 
 and. acting upon a compound capital, partly of stock and partly of gold 
 and silver, the national bank will be the ready instrument to enhance the 
 value of the public securities, and to restore the currency of the national coin. 
 
 4th. The power of the Government to supply and maintain a paper me- 
 dium of exchange will not be questioned ; but, for the introduction of that 
 medium, there must be an adequate motive. Thejsole motive for issuing 
 Treasury notes has hitherto been to raise money in anticipation of the rev- 
 enue. The revenue, however, will probably become, in the course of the 
 year 1816, and continue afterwards, sufficient to discharge all the debts and 
 to defray all the expenses of the Government ; and. consequently, there will 
 exist no motive to issue the^ paper of the. Government as an instrument of 
 credit. 
 
 It will not be deemed ,an adequate object for an issue of the paper of the 
 Government, merely that it may be exchanged for the paper of the banks ; 
 since the Treasury will be abundantly supplied with bank paper, by the 
 collection of the revenue ; and the Government cannot be expected to ren- 
 der itself a general debtor, in order to become the special creditor of the 
 State banks. 
 
 The co-operation of the Government with the national bank in the in- 
 troduction of a national currency, may, however, be advantageously em- 
 ployed, by issues of Treasury notes, so long as they shall be required for 
 the public service. 
 
 Upon the whole, the state of the national currency, and other important 
 considerations-connected with the operations of the Treasury, render it a 
 duty respectfully to propose 
 
 That a national bank be established at f the city of Philadelphia, having 
 power to erect 'branches elsewhere; and that the capital of the bank (being 
 of a competent amount) consist, three-fourths of the public stock, and one- 
 fourth of gold and silver. 
 
 All which is respectfully submitted. 
 
 A. J. DALLAS, 
 Secretary of the Treasury. 
 
 TREASURY DEPARTMENT, December 6, 1815,
 
 1815.] 
 
 SECRETARY OF THE TREASURY. 
 A. 
 
 45 
 
 STA TEMHNT of the aggregate amount of the receipts and expendi- 
 tures of the Treasury of the United States, for each year, from, the 
 commencement of the present Government to the year 1814. 
 
 Year. 
 
 Total amount re- 
 ceived. 
 
 Total amount ex- 
 pended. 
 
 To the end of the year 1791 
 
 $4,771,342 43 
 
 $3,797,436 78 
 
 1792 ,- - 
 
 8,772,458 76 
 
 8,962,920 00 
 
 1793-'.' "."' - 
 
 0,450,195 15 
 
 6,479,977 97 
 
 1794 -- 
 
 9,439,855 65 
 
 9,041,593 17 
 
 1795 -,- ' - - 
 
 9,515,758 59 
 
 10,151,240 15 
 
 1796 ..- - 
 
 8,740,329 26 
 
 8,367,776 84 
 
 1797 -. 
 
 8,758,780 99 
 
 8,625,877 37 
 
 1798 ' f - 7 
 
 8,179,170 80 
 
 . 8,583,618 41 
 
 17'J9 '* - . '- 
 
 ' 12,546,813 31 
 
 11,002,396 97 
 
 1800 - 
 
 12,413,978 34 
 
 11,952,534 12 
 
 1801 - 
 
 12,945,455 95 
 
 12,273,376 94 
 
 1802 - , - " 
 
 14,995,793 95 
 
 13,270,487 31 
 
 1803 - 
 
 11,064,097 63 
 
 11,258,983 67 
 
 1804 - 
 
 11,826,307 38 
 
 12,615,113 72 
 
 1805 - 
 
 13,560,693 20 
 
 13,598,309 47 
 
 180G - 
 
 15,559,931 07 
 
 15,021,196 26 
 
 1807 - , - 
 
 16,398,019 26 
 
 11,292,292 9!) 
 
 1808 ~ 
 
 17,060,661 93 
 
 16,762,702 0-1 
 
 1909 .,-.., ,. -, -. 
 
 7,773,473 12 
 
 13,867,226 30 
 
 . 1610 - 
 
 12,134,214 28 
 
 13,309,994 49 
 
 18U, - 
 
 14,422,634 09 
 
 13,592,604 8fi 
 
 1812 - '% -' "-' 
 
 22,639,032 76 
 
 22,279,121 15 
 
 1813 - 
 
 40,524,844 95 
 
 39,190,520 36 
 
 1814 -' 
 
 34,878,432 25 
 
 38,547,915 62
 
 46 
 
 REPORTS OF THE 
 B. 
 
 [1815. 
 
 TABLE of duties imposed on goods, wares, and merchandise, manufac- 
 tured within the United States, or the Territories thereof, by the acts of 
 the 18th of January, and 27th of February, 1815. 
 
 Articles. 
 
 Rates of duty. 
 
 Pig iron, bar iron, rolled or slit iron, per ton . 
 
 Castings, of iron 
 
 Nails, brads, and sprigs, other than those usually denominated 
 wrought, per pound - - - - 
 
 Candles, of white wax, or in part of white and other wax, per 
 pound - - . - - 
 
 Mould candles, of tallow, or of wax, other than white, or in part of 
 each, per pound - 
 
 Hats and caps, in whole or in part of leather, wool, or furs ; bon- 
 nets, in whole or in part of wool or fur, if above two dollars in 
 value; hats, of chip or wood, covered with silk or other mate- 
 rials, or not covered, if above two dollars in value 
 
 Umbrellas and parasols, if above the value of two dollars - 
 
 Paper - - -.- 
 
 Playing and visiting cards - - 
 
 Saddles and bridles 
 
 Boots and bootees, exceeding five dollars per pair in value 
 
 Beer, ale, and porter - 
 
 Tobacco, manufactured, segars and snuff 
 
 Leather, including therein .all kinds of skins, whether tanned, 
 tawed, dressed, or otherwise made 
 
 Gold, silver, and plated ware, and jewelry and paste-work, except 
 time-pieces - , - 
 
 1 dollar. 
 
 1 dollar 50 cents. 
 
 1 cent. 
 5 cents. 
 3 cents. 
 
 8 per cent. 
 8 per cent. 
 3 per cent. 
 50 per cent. 
 6 per cent. 
 
 5 per cent. 
 
 6 per cent. 
 20 per cent 
 
 5 per cent, ad valorem. 
 
 6 per cent, ad valorem. 
 
 ad valorem, 
 ad valorem, 
 ad valorem, 
 ad valorem, 
 ad valorem, 
 ad valorem, 
 ad valorem, 
 ad valorem.
 
 1815.] 
 
 SECRETARY OF THE TREASURY. 
 
 47 
 
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 1S15.] 
 
 SECRETARY OF THE TREASURY. 
 
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 SECRETARY OF THE TREASURY. 
 
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 52 REPORTS OF THE [1815. 
 
 E. 
 
 SMALL TREASURY NOTES. 
 
 iSTA TEMENT of small notes issued, and estimate of those re-issued 
 prior to the 1st of October, 1815. 
 
 To whom issued. 
 
 For the payment of 
 
 Dividend on 
 
 The army. 
 
 Expenses of the 
 
 Sold for a 
 
 the public 
 
 
 navy,and mis- 
 
 premium. 
 
 debt. 
 
 
 cellaneous ex- 
 
 > 
 
 
 
 penses. 
 
 
 William Gardner 
 
 . 
 
 Si ,000 
 
 
 
 
 Benjamin Austin 
 
 . 
 
 15,000 
 
 
 
 
 Christopher Ellery 
 
 . 
 
 2,000 
 
 
 
 
 E,obert Brent 
 
 . - 
 
 _ 
 
 $300,000 
 
 
 
 Robert Brent 
 
 . 
 
 - _ 
 
 454,000 
 
 
 
 Robert Brent 
 
 ... 
 
 _ 
 
 246,000 
 
 
 
 T. Macdonough - 
 
 ... 
 
 _ 
 
 
 $3,000 
 
 1 
 
 B. Homans 
 
 -. - 
 
 
 
 50 
 
 
 Robert Brent 
 
 ... 
 
 
 3007000 
 
 
 
 Jonathan Smith - 
 
 - 
 
 
 
 _ 
 
 $300,000 
 
 William Miller - 
 
 ... 
 
 
 
 _ 
 
 35,000 
 
 William Gardner 
 
 - 
 
 8,300 
 
 
 
 
 Christopher Ellery 
 
 . 
 
 13,500 
 
 
 
 
 Benjamin Austin 
 
 - 
 
 180,000 
 
 
 
 
 William Few 
 
 - 
 
 425,000 
 
 
 
 
 James Marshall, $300,000 not used, re- 
 
 
 
 
 
 turned to the Treasury. 
 
 
 
 
 
 Amount issued - 
 
 - ' . 
 
 644,800 
 
 1,300,000 
 
 3,050 
 
 335,000 
 
 Amount estimated to- have been re-issued 
 
 
 
 
 
 after having been funded or paid in 
 
 
 
 
 
 for duties or taxes 
 
 - 
 
 558,300 
 
 165,069 
 
 106,631 
 
 1,030,000 
 
 
 Total >. -"' 
 
 1,203,100 
 
 1,465,069 
 
 109,681 
 
 1,365,000 
 
 The notes sold, were sold at the following rates : 
 
 At 4 per cent, premium 
 3| do. do. 
 
 $300,000 
 19,600 
 
 Amount of the premium - $12,000 I 
 do. ' do. - 637 1 
 
 3 
 
 do. 
 
 do. > - 
 
 89,400 
 
 do. 
 
 do. 
 
 2,682 1 
 
 21 
 
 do. 
 
 do. 
 
 55,000 
 
 do. 
 
 do. 
 
 '-,' 1,512! 
 
 2J 
 
 do. 
 
 do. 
 
 281,000 
 
 do. 
 
 do. 
 
 7,025 ( 
 
 91 
 
 do. 
 
 do. 
 
 5,000 
 
 do. 
 
 do. 
 
 112 i 
 
 2 
 
 do. 
 
 do. 
 
 340,000 
 
 do. 
 
 do. 
 
 -i*; 6,800 < 
 
 H 
 
 do. 
 
 do. 
 
 10,000 
 
 do. 
 
 do. 
 
 - 175 ( 
 
 U 
 
 do. 
 
 do. 
 
 91,000 
 
 do. 
 
 do. 
 
 1,365( 
 
 It 
 
 do. 
 
 do. 
 
 74,000 
 
 do. 
 
 do. 
 
 925 ( 
 
 li 
 
 do. 
 
 do. with one 
 
 
 
 
 
 month's interest deducted 
 
 100,000 
 1,365,000 
 
 do. 
 
 do. 
 
 Deduct sundry charges incurred .- . - ^ 
 Nett amount of premium received by the United States
 
 1315.] SECRETARY OF THE TREASURY. 53 
 
 F. 
 
 NOTICE. 
 TREASURY DEPARTMENT, March 10, 1815. 
 
 In pursuance of powers which Have been duly vested in the Secretary 
 of the Treasury, under an act of the Congress of the United States, entitled 
 " An act to authorize a loan for a sum not exceeding eighteen million 
 four hundred and fifty two thousand eight hundred dollars," approved by 
 the President of the United States on the 3d of March current, proposals 
 will be received by the Secretary of the Treasury from this time until the 
 first day of May next, (unless the amount required should be previously 
 subscribed,) for a loan to the United States of the sum of twelve millions 
 of doHars, or any part thereof, on the following terms, and in the following 
 manner : 
 
 1. The proposals must state the amount to be loaned ; the rate at which 
 the stock will be received; the instalments in which the party will make 
 the payments, (not exceeding, for the whole, ninety days from the date of 
 the subscription,) and the banks into which the payments will be made. 
 
 2. The payments will be received either in money, or in approved bank 
 notes, or in Treasury notes actually issued before the 3d of March cur- 
 rent, under the acts of Congress passed, respectively, the 30th June, 1812, 
 the 25th of February, 1813, and the 4th of March, 1814, at their par value, 
 with the interest accrued thereon at the time of payment. The kind of 
 payment intended to be made must be stated in the proposals; and where 
 the terms of subscription are equal, a preference will be given to offers for 
 paying in Treasury notes which have become due and remain unpaid, 
 with an allowance of the interest upon such notes, as well since as before 
 they became due. 
 
 3. On failure to pay any instalment at the time stipulated, the next pre- 
 ceding instalment shall be forfeited for the use of the United States. 
 
 4. Scrip-certificates will be issued by the cashiers of the banks into 
 which the payments shall be made, to the corporation or persons making 
 the payments ; the cashiers will also endorse the payment of the successive 
 instalments. The scrip-certificates will be assignable by endorsement and 
 delivery; and will be funded at the loan office of the State in which the 
 bank is situated where the payments have been made. 
 
 5. For the amount loaned, stock will be issued when the instalments are 
 completed, bearing interest at six per cent, per annum, payable quarter- 
 yearly. The stock will be reimbursable at the pleasure of the United 
 States, at any time after twelve years from the last of December next; and 
 the sinking fund is charged with the punctual payment of the interest, 
 and the reimbursement of the principal, according to contract. 
 
 It is desirable, as far as the public interest will permit, to reduce the 
 amount of the Treasury note debt, and particularly the portion of it which 
 is due and unpaid ; and, therefore, an early subscription is recommended to 
 the holders of Treasury notes. But, in order to save time and trouble, it 
 may be proper to observe, that the terms of the proposals should bear some 
 relation to the actual fair price of stock in the market of Philadelphia or 
 New York. 
 
 A commission of one-fourth per cent, will be allowed to any person col- 
 lecting subscriptions for the purpose of incorporating them in one proposal, 
 to the amount of 25,000 dollars or upwards, provided such proposals shall 
 be accepted. A. J. DALLAS, 
 
 Secretary of the Treasury.
 
 54 
 
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 1S15.J 
 
 SECRETARY OF THE TREASURY. 
 
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 1815.] 
 
 SECRETARY OF THE TREASURY. 
 
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 58 REPORTS OF THE [1815. 
 
 NOTICE. 
 
 TREASURY DEPARTMENT,, June 15, 1815. 
 
 Arrangements are making to discharge the whole of the arrearages of 
 the Treasury note debt, where the same became due and payable, us soon 
 as a competent supply of current money can be obtained at the seat of the 
 several loan offices. 
 
 Arrangements are also making to furnish a competent issue of Treasury 
 notes, to assist in the re-establishment of a circulating medium throughout 
 the United States; but it has been ascertained that an issue of Treasury 
 notes, not bearing interest, and fundable at seven per cent., cannot, at this 
 time, be employed for that purpose. 
 
 Notice is therefore hereby given, that funds have been assigned for the 
 payment of such Treasury notes, and the interest thereon, as became due, 
 or shall become due, at the loan office in Philadelphia, in the State of 
 Pennsylvania, on the following days, to wit : 
 
 On the 21st of November ; the 1st and llth of December, 1814. 
 
 The 1st of January; the 1st and 21st of February ; the 21st of April ; 
 the 1st, llth, and 21st of May; the 1st, llth, and 21st of June; and the 
 1st, llth, and 21st of July, 1815; being all the Treasury notes due, or 
 becoming due, at Philadelphia, prior to the 1st day of August, 1815. 
 
 And the said Treasury notes will accordingly be paid, upon the applica- 
 tion of the holders thereof, respectively, at the said loan office, in the city 
 of Philadelphia, on the 1st day of August next ; after which day, interest 
 will cease to be payable upon the said "Treasury notes. 
 
 And notice is hereby further given, that funds have been assigned for 
 the payment of such Treasury notes, and the interest thereon, as became 
 due at the loan office in Savannah, in the State of Georgia, on the follow- 
 ing days, to wit : 
 
 On the 1st of April, and the 1st of May, 1815 ; being all the Treasury 
 notes due at Savannah, prior to the 1st day of September, 1815. 
 
 And the said last mentioned Treasury notes will accordingly be paid, 
 upon the application of the holders thereof, respectively, at the said loan 
 office, in Savannah aforesaid, on the 1st day of September next ; after which 
 day. interest will cease to be payable upon the said Treasury notes. 
 
 And notice is hereby further given, that funds have been assigned for the 
 payment of such Treasury notes, and the interest thereon, as became due 
 at Washington, in the District of Columbia, on the following days, to wit : 
 
 On the llth and 21st of April ; on the 1st and 2Jst of May ; and on the 
 llth of June, 1815 ; being all the Treasury notes due at Washington. 
 
 And the said last mentioned Treasury notes will accordingly be paid, upon 
 the application of the holders thereof, respectively, at the Treasury of the 
 United States in Washington aforesaid, at any time subsequent to the date 
 of this notice ; and interest will cease to be payable upon .the said Treasury 
 notes after the 1st day of July next. And all Treasury notes hereafter 
 payable at the Treasury of the United States, in Washington aforesaid, will
 
 1815.] SECRETARY OF THE TREASURY. 59 
 
 be there punctually paid, from time to time, as the same shall become due 
 and payable; and the interest thereon will cease on the day or days when 
 such Treasury notes shall respectively become payable. 
 
 And notice is hereby further given, that funds have been assigned for the 
 payment of such Treasury notes, and the interest thereon, as became due 
 at the loan office in Baltimore, in the State of Maryland, on the 1st of 
 June, 1815 ; and that the said last mentioned Treasury notes will accord- 
 ingly be paid, upon application of the holders thereof, respectively, at the 
 said loan office, in Baltimore aforesaid, at any time subsequent to the date 
 of this notice; and that interest will cease to be payable upon the said Trea- 
 sury notes after the 1st day of July next. And all Treasury notes here- 
 after payable at the loan office in Baltimore aforesaid, will be there punc- 
 tually paid, from time to time, as the same shall become due and payable; 
 and the interest thereon will cease on the day or days when such Treasury 
 notes shall respectively become payable. 
 
 And notice is hereby further given, that as funds in current money can- 
 not at present be obtained at Boston, in the State of Massachusetts, to pay 
 such of the Treasury notes as became due, and remain unpaid, at the loan 
 office in Boston, aforesaid, on the following days, to wit: 
 
 On the 1st of November, and the llth and 2lst of December, 1814; the 
 21st of January, and the 1st of February, 1815; 
 
 Subscriptions in the principal and interest of the said last mentioned 
 Treasury notes will be received to the loan of twelve millions of dollars, 
 at the rate of 95 dollars in principal and interest, in Treasury notes, for 100 
 dollars of six per cent, stock. The holders, respectively, of the said last 
 mentioned Treasury notes may also, at their option, receive drafts on Phila- 
 delphia and Baltimore for the amount of their claims ; or they may exchange 
 the old for new Treasury notes, fundable at six per cent., to include the 
 principal and interest now due. 
 
 And notice is hereby further given, that as funds in current money can- 
 not at present be obtained at the city of New York, in the State of New 
 York, to pay such of the Treasury notes as became due, and remain un- 
 paid, at the loan office in New York aforesaid, on the following days, to 
 wit: 
 
 On the 1st and llth of December, 1814; the 1st and llth of January; 
 the llth of February ; the llth of March: the 21st of April; and the llth of 
 May, 1815; 
 
 Subscriptions in the principal and interest of the said last mentioned 
 Treasury notes will be received to the loan of twelve millions of dollars, at 
 the rate of 95 dollars of principal and interest in Treasury notes, for 100 
 dollars of six per cent, stock. The holders, respectively, of thesaid last men- 
 tioned Treasury notes may also, at their option, receive drafts on Philadel- 
 phia and Baltimore for the amount of their claims; or they may exchange 
 the old for new Treasury notes, fundable at six per cent., to include the 
 principal and interest now due. 
 
 And, finally, notice is hereby given, that on the 1st day of August next, 
 instructions will be issued, forbidding the collectors of duties on imports and 
 tonnage, the collectors of the internal duties and taxes, and the receivers 
 of all public dues whatsoever, to receive in payment of such duties, taxes, 
 and dues, the bank notes of any bank which does not, on demand, pay its 
 own notes in gold and silver, and, at the same time, refuses to receive, credit, 
 re-issue, and circulate the Treasury notes emitted upon the faith and se-
 
 60 REPORTS OF THE [1815. 
 
 curity of the United States, in deposites, or in payments to or from the bank 
 in the same manner, and with the like effect, as cash, or its own bank, 
 notes. 
 
 The loan officers of the several States are requested to make this notice 
 generally known, by all the means in their power ; and the printers author- 
 ized to print the laws of the United States will be pleased to insert it in their 
 respective newspapers. 
 
 A. J. DALLAS, 
 Secretary of the Treasury. 
 
 I. 
 
 NOTICE. 
 TREASURY DEPARTMENT, June 23, 1815. 
 
 Funds having been assigned for the payment of such Treasury notes, and 
 the interest thereon, as will become due at Philadelphia on the 1st day of 
 August next, and on all subsequent days, prior to the 1st day of January, 
 1816: 
 
 Notice is therefore hereby given, that the said Treasury notes will be 
 paid, on the application of the holders thereof, respectively, at the loan office 
 in Philadelphia, on the day or days when they shall respectively become due ; 
 and interest on the said notes will cease to be payable thereafter. 
 
 The commissioners of loans in the several States are requested to make 
 this notice generally known by all the means in their power ; and the print' 
 ers authorized to publish the laws of the United States will be pleased to 
 insert it in their respective newspapers. 
 
 A. J. DALLAS, 
 Secretary of the Treasury*
 
 1815-1 SECRETARY OF THE TREASURY. 
 
 K. 
 
 61 
 
 STATEMENT of moneys borrowed between the 1st of October, 1814, 
 and the 3Qth of September, 1815, under the act of Congress of the \kth 
 March, 1812. 
 
 From the committee of defence of the city of Philadelphia, 
 for which 6 per cent, stock was issued at par -*. - $100,000 00 
 
 Of which sum there was paid in the year 1814 $50,00 O'O 
 And in the year 1815 - 50,000 00 
 
 STATEMENT of temporary loans madte m the year 1815, (prior to 
 the 1st of October in that year,] under the several acts of Congress of 
 the 15th November, 1814 ; the 3d of March, 1815; and 13th of February, 
 1815. 
 
 Act under 
 which made. 
 
 By whom made. 
 
 Amount. 
 
 Rate of inte- 
 rest. 
 
 When reimbursable. 
 
 1814. 
 Novem. 15 
 15 
 15 
 15 
 15 
 15 
 15 
 15 
 
 1815. 
 March 3 
 3 
 
 February 3 
 3 
 3 
 3 
 
 Manhattan Company, N. Y. 
 Mechanics' Bank, do. 
 City Bank, do. 
 Do. do. 
 Mechanics' Bank do. 
 Manhattan Company, do. 
 Bank of America, do. 
 Bank of the State of S. Car. 
 
 Bank of Virginia (a) 
 Farmers' Bank of Va. (a) - 
 
 Bank of the Metropolis 
 Bank of Washington 
 Bank of Columbia - 
 Union Bank of Alexandria 
 
 $200,000 00 
 200,000 00 
 200,000 00 
 75,000 00 
 75,000 00 
 75,000 00 
 75,000 00 
 50,000 00 
 
 7 per cent, 
 do. 
 do. 
 6 per cent, 
 do. 
 do. 
 do. 
 do. 
 
 do. 
 do. 
 
 do. 
 do. 
 do. 
 do. 
 
 Mar. 1& May 1,^8 15. 
 do. 
 da 
 August 1, 1815. 
 do. 
 do. 
 do. 
 December 1, 1815. 
 
 May 1, 1816. 
 do. 
 
 Three years, 
 do. 
 do. 
 do. 
 
 950,000 00 
 
 450,000 00 
 200,000 00 
 
 650,000 00 
 
 25,000 00 
 25,000 00 
 25,000 00 
 25,000 00 
 
 100,000 00 
 
 (a) These loans were repaid in the month of July, 1815. 
 
 'liNJ.fi.' 
 
 omirl
 
 62 
 
 REPORTS OF THE 
 L. 
 
 TREASURY NOTES BEARING INTEREST. 
 
 [1815. 
 
 STATEMENT of the amount of Treasury notes issued in the third 
 and fourth quarters of the year 1814, under the act of the 4th of March, 
 1814. 
 
 
 Reimbursable at 
 
 
 When 
 
 
 
 reimburs- 
 able. 
 
 Boston. 
 
 New York. 
 
 Philadel- 
 
 Balti- 
 
 Wash- 
 
 Rich- 
 
 Charles- 
 
 Total. 
 
 
 
 
 phia. 
 
 more. 
 
 ington. 
 
 mond. 
 
 ton. 
 
 
 1815. 
 June 21 
 
 
 
 ' $3,300 
 
 
 
 
 
 S3, 300 
 
 July 1 
 11 
 
 - 
 
 $1497700 
 75,000 
 
 105,400 
 59,000 
 
 - 
 
 - 
 
 - 
 
 - 
 
 255,100 
 104,000 
 
 21 
 
 
 
 12,700 
 
 
 $45,000 
 
 _ 
 
 _ 
 
 57,700 
 
 Au^u^t 1 
 
 $92,000 
 
 G07000 
 
 510,000 
 
 $40,000 
 
 17,800 
 
 _ 
 
 _ 
 
 719,800 
 
 11 
 
 
 90,000 
 
 94,200 
 
 _ 
 
 20,000 
 
 _ 
 
 $150,000 
 
 354,200 
 
 21 
 
 
 _ 
 
 _ 
 
 _ 
 
 2,500 
 
 _ 
 
 _ 
 
 2,500 
 
 Septem. 1 
 11 
 
 - 
 
 - 
 
 1,600 
 
 - 
 
 10,000 
 
 - 
 
 - 
 
 1,600 
 10,000 
 
 21 
 
 
 407000 
 
 ' 
 
 
 60,000 
 
 _ 
 
 _ 
 
 100,000 
 
 October 11 
 
 _ 
 
 25,000 
 
 11,820 
 
 
 500,000 
 
 _ 
 
 _ 
 
 536,820 
 
 21 
 
 52,000 
 
 238,000 
 
 105,000 
 
 100,000 
 
 1,000 
 
 _ 
 
 _ 
 
 496,000 
 
 Novem. 1 
 
 150,000 
 
 200,000 
 
 100,000 
 
 _ 
 
 27,700 
 
 _ 
 
 _ 
 
 477,700 
 
 11 
 
 
 . _ 
 
 130,000 
 
 _ 
 
 15,000 
 
 _ 
 
 _ 
 
 145,000 
 
 21 
 
 12,000 
 
 310,280 
 
 254,600 
 
 5,000 
 
 21 , 700 
 
 _ 
 
 _ 
 
 603,580 
 
 Decem. 1 
 
 _ 
 
 853,420 
 
 174,060 
 
 60,000 
 
 14,900 
 
 _ 
 
 _ 
 
 1,102,380 
 
 11 
 
 3,000 
 
 50,000 
 
 4,060 
 
 j, 
 
 11,100 
 
 _ 
 
 _ 
 
 68,160 
 
 21 
 
 300 
 
 23,160 
 
 68,000 
 
 _ 
 
 31,180 
 
 $15,000 
 
 _ 
 
 137,640 
 
 1816. 
 
 
 
 
 
 
 
 
 
 January 1 
 
 - 
 
 387,000 
 
 222', 240 
 
 - 
 
 50,460 
 
 - 
 
 - 
 
 659,700 
 
 
 309,300 
 
 2,501,560 
 
 1,825,980 
 
 205,000 
 
 828,340 
 
 15,000 
 
 150,000 
 
 5,835,180 
 
 Amount of Treasury notes issued in the first and second quarters of the 
 year 1815, under the act of the kth of March, 1814. 
 
 
 Reimbursable at 
 
 
 When 
 
 
 
 reimburs- 
 
 
 
 
 
 
 
 
 Total. 
 
 able. 
 
 Boston. 
 
 Sew York. 
 
 Philadel- 
 
 Balti- 
 
 Wash- 
 
 Rich- 
 
 Charles- 
 
 
 
 
 
 phia. 
 
 more. 
 
 ington. 
 
 mond. 
 
 ton. 
 
 
 1816. 
 
 
 
 
 
 
 
 
 
 January 11 
 
 $50,000 
 
 $440,900 
 
 $81,200 
 
 _ 
 
 $34,620 
 
 
 
 $606,720 
 
 21 
 
 _ 
 
 138,160 
 
 34,900 
 
 
 65,900 
 
 
 
 238,960 
 
 February 1 
 
 _ 
 
 420,420 
 
 1,196,280 
 
 $11,000 
 
 5,100 
 
 
 
 1,632,800 
 
 11 
 
 _ 
 
 __ 
 
 79,200 
 
 _ 
 
 45,900 
 
 
 
 125,100 
 
 21 
 
 _ 
 
 
 
 
 18,400 
 
 
 
 18,400 
 
 March 1 
 
 __ 
 
 257600 
 
 l7200 
 
 
 82,540 
 
 
 
 109,340 
 
 11 
 
 _ 
 
 _ 
 
 400 
 
 
 15,000 
 
 
 
 15,400 
 
 21 
 
 _ 
 
 _ 
 
 11,900 
 
 
 
 
 
 11,900 
 
 April 1 
 
 
 _ 
 
 8,900 
 
 
 
 
 
 8,900 
 
 11 
 
 tm 
 
 _ 
 
 _ 
 
 
 2,200 
 
 
 
 2,200 
 
 21 
 
 _ 
 
 _ 
 
 
 _ 
 
 2,000 
 
 
 
 2,000 
 
 June 21 
 
 - 
 
 - 
 
 1,000 
 
 - 
 
 
 - 
 
 - 
 
 1,000 
 
 
 50,000 
 
 1,025,080 
 
 1,414,980 
 
 11,000 
 
 271,660 
 
 - 
 
 - 
 
 2,772,720
 
 1815.J 
 
 SECRETARY OF THE TREASURY. 
 STATEMENT L Continued. 
 
 63 
 
 Recapitulation of Treasury notes issued under the act of March 4, 1814. 
 
 Amount issued in the second quarter of 1814, as reported to Congress by the Sec- 
 retary of the Treasury, September 23, 1814 - - - - $1,392,100 
 Amount issued in the third and fourth quarters of 1814; as above stated - - 5,835,180 
 Amount issued in the first and second quarters of 1815, as above stated - ;,-, 2,772,720 
 
 Total amount authorized to be issued by. the act 
 
 - 10,000,000 
 
 STATEMENT of the amount of Treasury notes issued in the 1st, 2d, 
 and 3d quarters of the year 1815, under the act of the 26th of Decem- 
 ber, 1814. 
 
 
 
 Reimbursable at 
 
 
 B 
 
 j-) 
 
 
 
 
 
 ' ^ 
 
 .2 
 
 
 8 
 
 . 
 
 c 
 
 
 Total. 
 
 3 
 
 
 o ' 
 
 r< 
 
 - o \ 
 
 d 
 
 
 
 o 
 
 fa. 
 
 
 S 
 
 J3 
 
 y 
 
 1 
 
 ' 1 
 
 2 
 9 
 
 a 
 
 ,52 
 a 
 
 a 
 
 
 P 
 
 o 
 
 E 
 
 13 
 
 "3 
 
 n 
 
 P 
 
 | 
 
 3 
 
 02 
 
 
 1816. 
 
 
 
 
 
 
 
 
 
 """' 
 
 Feb. 1 
 
 _ 
 
 $78,160 
 
 $145,480 
 
 $56,800 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 8280,440 
 
 Feb. 11 
 
 _ 
 
 1,365,340 
 
 1,636,180 
 
 50,000 
 
 _ 
 
 30,000 
 
 
 mt 
 
 3,081,520 
 
 Feb. 21 
 
 
 _ 
 
 224,00( 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 224,000 
 
 Mar. 1 
 
 $145,000 
 
 990,820 
 
 250, 9C( 
 
 133,580 
 
 _ 
 
 _ 
 
 $100,000 
 
 _ 
 
 1,620,300 
 
 Mar. 11 
 
 2,000 
 
 116,060 
 
 55,200 
 
 40,000 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 213,260 
 
 Mar. 2 1 
 
 _ 
 
 13,860 
 
 80, lot 
 
 _ 
 
 _ 
 
 6,200 
 
 _ 
 
 _ 
 
 100,160 
 
 Ap'l 1 
 
 _ 
 
 176,740 
 
 112,900 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 289,640 
 
 Ap'l 11 
 
 _ - 
 
 313,360 
 
 81,000 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 394,360 
 
 Ap'l 21 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 $4,860 
 
 8,580 
 
 
 _ 
 
 13,440 
 
 May 1 
 
 _ 
 
 _ 
 
 10,500 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 10,500 
 
 May 21 
 
 _ 
 
 432,280 
 
 33,000 
 
 _ 
 
 -_ 
 
 _ 
 
 _ 
 
 _ 
 
 465,280 
 
 June 1 
 
 _ 
 
 622,020 
 
 91,380 
 
 _ ' 
 
 4,500 
 
 _ 
 
 _ 
 
 _ 
 
 717,900 
 
 June 11 
 
 _ 
 
 154,180 
 
 10,000 
 
 _ . 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 164,180 
 
 July 21 
 
 _ 
 
 401,420 
 
 _ 
 
 ^ 
 
 . _ 
 
 _ 
 
 _. 
 
 _ 
 
 401,420 
 
 Sept. 1 
 
 - 
 
 - 
 
 ;_- : , ;~ 
 
 - 
 
 - 
 
 - 
 
 - 
 
 8342,000 
 
 342,000 
 
 
 147,000 
 
 4,664,240 
 
 2,730,640 
 
 280,380 
 
 9,360 
 
 44,780 
 
 100,000 
 
 342,000 
 
 8,318,400 
 
 STATEMENT of the amount of Treasury notes bearing interest, issu- 
 ed prior to the 1st of October, 1815, under the act of the 2kth of Feb- 
 ruary, 1815. 
 
 Date. 
 
 1815, August 21st 
 September 1st 
 September llth 
 September 21st 
 October 1st 
 
 Total 
 
 Amount. 
 
 $33,000 
 308,600 
 102,000 
 36,900 
 214,100 
 
 - 694,600
 
 6 4 REPORTS OF THE [1815. 
 
 STATEMENT L Continued. 
 
 EST1MA TE of the amount of the principal and interest of Treasury 
 notes of every description, which will come as a charge upon the Trea- 
 
 sury during- the year 1816. 
 
 ^. - 
 
 I. Treasury noles bearing interest : 
 
 1. Such as are charged upon the sinking fund 
 
 Amount which became payable in 1814, and which was not paid - - $2,799,200 00 
 
 Amount which became payable in 1815 - - - - - 7,847,280 00 
 
 Amount which will become payable in 1816 - - 2,772,720 00 
 
 13,419,200 00 
 
 2. Such as are payable out of any moneys in the Treasury not otherwise ap- 
 
 propriated 
 Amount which will become payable in 1816 - 8,318,400 00 
 
 3. Such as are not reimbursable in money, but may be funded for 6 per cent. 
 
 stock at par, or paid for duties, taxes, or any public dues whatever 
 Amount issued prior to 1st October, 1815 - - 694,600 00 
 
 Amount estimated ta be issued from 1st October to 31st December, 1815 - 500,000 GO 
 
 22,932,200 00 
 
 II. Small Treasury notes, not on interest,, not reimbursable in money, but may 
 be funded for 7 per cent, stock at par, or paid for duties, taxes, or any 
 public dues whatever 
 
 Amount issued and reissued, per preceding statement, marked D, to 30th 
 September, 1815 - - - . $4,142,850 00 
 
 Amount estimated to be issued and reissued from 1st Octo- 
 ber to 31st December, 1815 - - 500,000 00 
 
 -- 4,642,850 00 
 
 27,575,050 00 
 Interest 
 
 The amount estimated to be payable for interest, on the notes bearing 
 interest, is about - . . 1,000,000 00 
 
 28,575,050 00 
 Towards the reimbursement of Treasury notes, payable at Philadel- 
 
 phia, Baltimore, Washington, Charleston, and Savannah there has 
 
 been advanced from the Treasury the sum of - - f 1 536 000 00 
 
 The amount of Treasury notes bearing interest, sub- 
 
 scribed to the loan prior to the 1st of October, 1815 
 
 was, principal and interest - - $3,161,587 06 
 
 And it is estimated that the amount sub- 
 
 scribed between the 1st of October and 
 
 31st December, 1815, will be - - 2,500,000 00 
 
 - -- - 5,661,587 06 
 
 The amount of small Treasury notes fund- '' '' ' 
 
 ed for 7 per cent, stock, prior to the 1st 
 .October, 1815, was . 3,318,95000 
 
 And the amount estimated to be funded 
 
 between the 1st October and 31st De- 
 
 cember, 1815, is - . 1,000,000 00 
 
 The amount estimated to be redeemed by ~ 4,318,950 00 
 
 payments for duties, taxes, &c., prior to 
 1st January, 1815, is, of Treasury notes 
 bearing interest - - . i KOO nnn nn - 
 
 Small Treasury notes - . ^ iS$00 00 
 
 - 1,600,000 00 
 
 -- 13,116,53706 
 
 Leaving, as the amount outstanding at the- end of the year 1815 and 
 which will come as a 
 
 o e ye 
 
 which will come as a charge upo! the Treasury in the year 1816 of 
 pnncipal and interest of Treasury notes of aulesofc^ - ' - 15,458.51294
 
 1815.] 
 
 SECRETARY OF THE TREASURY. 
 
 65 
 
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 REPORTS OF THE 
 B. 
 
 [1815. 
 
 -* -1 ' > ~'-V - -* 
 
 n^FTVT Exhibiting the value and want ities, respectively , of 
 A STATEMENT ^m^ ^^ ^ tht year ^U 
 
 merchandise on WM* between articles paying duties, imported, 
 
 ^p^;)^ <**<>, of thanettre- 
 'that year, from Mes on merchand^se, 
 e, passports, ant clearances. 
 
 (consistin 
 \nd 
 
 MERCHANDISE PAYING DC^s AD VALOREM. 
 
 1)4 -29 09 dollars, at 12i per cex 
 68230 do. g do 
 30 do. 
 40 do. 
 
 4313,82902 do 
 '803.131 05 do. 
 121,785 15 do. 
 
 a 5,240,856 61 do. 
 
 , 
 
 eTeas, 
 Molasses, 
 
 r articles 
 
 do. 
 
 unds, at ^-* - 
 
 do. at 44.2 do. lo . 
 
 gallons, at 10 do. ,. 
 
 g >unds,atlO do- ^ 
 
 0-78 64 
 1 34 
 1,078,45'' 25 
 240,93932 
 48,71406 
 
 131,021 41 
 
 $1,499,413 03 
 
 327,780 08 
 179,273 34 
 1,055,884 96 
 156,641 79 
 287,928 30 
 652,823 80 
 75,822 40 
 901,365 68 
 
 ^Patear^^dvessels 
 
 3l per cent, retained on drawback 
 
 "^'--rr^Sfi^ 4,800 
 
 i per cent, on merchandise imported tor^ 
 
 ' eign vessels - 
 Accounts outstanding, estimated at - 
 
 Nett amount of duties on merchandise - 
 Duties on tonnage 
 Light money - 
 Passports and clearances 
 
 Gross revenue, per statement A_ 
 Peduct expenses on collection -
 
 1815.J 
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes. 
 
 
 
 a Mediterranean fund 
 Additional duly of 21 per cent, on 85,240,856 61 
 Extra duty of 10 per cent, on merchandise imported in foreign vessels - 
 Si per cent, retained on drawback '___- - - - ' _^ 
 
 $131,021 42 
 4,800 39 
 6 54 
 
 - '.<*." -tfjbffasji 
 Deduct duties refunded - r *J!:" - - - $21442 
 33i per cent, on merchandise captured by private armed 
 vessels * fltiwq - - 15,21464 
 
 135,828 35 
 !*> 429 06 
 
 ?f' ' 
 
 
 
 120,399 29 
 
 b Spirits 
 From grain - -V-T>1 - 1st proof 12,297 gallons, at 56 cents 
 Do. - 2d do. 3,470 do. at 58 do. 
 Do. { -W - 3d do. 10,416 do. at 62 do. 
 Do. ''- - 4th do. 3,088 do. at 68 do. 
 Do. 5th do. 9,500 do. at 80 do. 
 From other materials 1st and 2d do. 176,076 do. at 50 do. 
 Do. - - 3d do. 173,257 do. at 56 do. 
 Do. - V-^.'.Sa- 4th do. 183,130 do. at 64 do. 
 Do. - - - 5ih do. 603 do. at 76 do. 
 
 6,886 32 
 2,012 60 
 6,457 92 
 2,099 84 
 7,600 00 
 88,038 00 
 97,023 92 
 117,203 20 
 458 28 
 
 571,837 do. 
 
 327,780 08 
 
 c, Wines 
 Malmsey, and London Particular Madeira 740 gallons, at 116 cents 
 All other Madeira - ,'f ,- 471 do. at 100 do. 
 Burgundy. Champagne, Rhenish, &c. 550 do. at 90 do. 
 Sherry and St. Lucar, &c. - 116 do. at 80 da 
 Claret, in bottles - 8,118 do. at 70 do. 
 Lisbon, Oporto, &r. - ,-!- 14,191 do. at 60 do. 
 Tenerifie, Faral, Malaga, &c. 84,112 do. at 56 do. 
 All other not specified 252,296 do. at 46 do. 
 
 858 46 
 471 00 
 495 00 
 92 80 
 5,682 60 
 8,514 60 
 47,102 72 
 116,056 16 
 
 360,594 do. 
 
 179,273 34 
 
 d Sugar- 
 Brown, claved or powdered - - 18,432,512 pounds, at 5 cents 
 While do. do. - V , 2,237,656 do. at 6 do. 
 
 921,625 60 
 134,259 36 
 
 20,670,168 do. 
 
 1,055,884 96 
 
 c Teas 
 Bohea 17,357 pounds, at 24 cents 
 Souchong - j JiO! .-'. 80,936 do. at 36 do. 
 Hyson - .-!' *!>: '- 69,423 do. at 64 do. 
 Other green - - 186,322 do. at 40 do. 
 Extra duty on teas from other places than, 
 India - J* - . - rvj, ; . . 
 
 4,165 68 
 29,126 96 
 44,430 72 
 74,528 80 
 
 4,389 63 
 
 354,038 do. 
 
 156,641 79 
 
 / Salt- 
 Weighing less than 56 Ibs. per bushel 36,575 bushels, at 20 cents 
 Weighing more than 56 Ibs. per bushel 342,537 do. at 20 do. 
 
 7,315 00 
 68,507 40 
 
 379,112 do. 
 
 76,828 40
 
 REPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 [1815. 
 
 g All other articles, viz: 
 
 
 Quantity, 
 
 Rate of 
 duty. 
 
 Duties. 
 
 Spirits, domestic distilled, 1st proof - 
 
 gallons 
 
 476 
 
 Cents. 
 14 
 
 $66 64 
 
 Do. do. 2d do. - 
 
 do. 
 
 15 
 
 16 
 
 2 40 
 
 Beer, ale, and porter ...... 
 
 do. 
 
 13,345 
 
 16 
 
 2,135 20 
 
 Cocoa 
 
 pounds 
 
 266,911 
 
 4 
 
 10,676 44 
 
 Chocolate 
 
 do. 
 
 559 
 
 6 
 
 33 54 
 
 Sugar candy ----- 
 
 do. 
 
 13 
 
 23 
 
 2 99 
 
 loaf - - - 
 
 do. 
 
 1,945 
 
 18 
 
 350 10 
 
 other, refined, &c. 
 
 do. 
 
 378 
 
 13 
 
 49 14 
 
 Almonds ... 
 
 do. 
 
 55,891 
 
 4 
 
 2,353 82 
 
 Fruits Currants 
 
 do. 
 
 24,487 
 
 4 
 
 979 48 
 
 Prunes and plums - - 
 
 do. 
 
 39,034 
 
 4 
 
 1,561 36 
 
 Figs .... 
 
 do. 
 
 11,708 
 
 4 
 
 468 32 
 
 Raisins, jar and muscatel - 
 
 do. 
 
 204,891 
 
 4 
 
 8,195 64 
 
 Raisins, all other - 
 
 do. 
 
 257,289 
 
 3 
 
 7,718 67 
 
 Candles Tallow - 
 
 I do. 
 
 29,766 
 
 4 
 
 1,190 64 
 
 Wax, or spermaceti 
 
 do. 
 
 446 
 
 12 
 
 53 52 
 
 Cheese - 
 
 do. 
 
 26,929 
 
 14 
 
 3,770 06 
 
 Soap - - - - , . 
 
 do. 
 
 54,515 
 
 4 
 
 2,328 54 
 
 Tallow - - - .-."'. 
 
 do: 
 
 79,900 
 
 3 
 
 2,397 00 
 
 Spices Nutmegs - - - - f 
 
 do. 
 
 3S6 
 
 100 
 
 336 00 
 
 Cinnamon - ... 
 
 do. 
 
 35 
 
 40 
 
 14 00 
 
 Cloves 
 
 do. 
 
 6 
 
 40 
 
 2 40 
 
 Pepper - 
 
 do. 
 
 '16,808 
 
 12 
 
 2,016 96 
 
 Pimento - 
 
 do. 
 
 24,465 
 
 8 
 
 1,957 20 
 
 Cassia ... 
 
 do. 
 
 3,780 
 
 8 
 
 302 40 
 
 Tobacco, manufactured, other than snuff am 
 
 I 
 
 
 
 
 segars - 
 Snuff .... 
 
 do. 
 do. 
 
 2,096 
 242 
 
 12 
 20 
 
 251 52 
 
 48 40 
 
 Indigo - - - . 
 
 do. 
 
 66,601 
 
 50 
 
 33,300 50 
 
 Cotton - - 
 Powder, hair - ... 
 
 do. 
 do. 
 
 139,708 
 60 
 
 6 
 8 
 
 8,530 98 
 4 80 
 
 gun - - . s .. 
 
 O. I- 
 
 do." 
 
 3,278 
 
 8 
 
 262 24 
 
 btarch 
 r~i\ 
 
 do. 
 
 3,655 
 
 6 
 
 219 30 
 
 (jrlue - - ... 
 Pewter plates and dishes 
 Iron, anchors and sheet - . - 
 slit and hoop - 
 
 do. 
 do. 
 do. 
 do. 
 
 26,287 
 242 
 153,736 
 358,956 
 
 8 
 8 
 3 
 2 
 
 2,102 90 
 19 36 
 4,612 08 
 7,179 12 
 
 Spikes .... 
 Quicksilver - - - _ 
 Paints Ochre, in oil ... 
 
 do. 
 do. 
 do. 
 do. 
 
 86,568 
 2,560 
 110,700 
 971 
 
 4 
 2 
 12 
 3 
 
 3,462 72 
 51 20 
 13,284 00 
 29 13 
 
 dry, yellow - -- -'-V ! 
 Spanish brown - - -, 
 White and red lead 
 Lead, and manufactures of lead 
 Cordage, tarred - ... 
 untarred - 
 Seines 
 
 do. 
 do. 
 do. 
 do. 
 do. 
 do. 
 
 100 
 16,542 
 151,121 
 96,541 
 40,535 
 3,693 
 
 2 
 2 
 4 
 2 
 4 
 5 
 
 2 00 
 330 84 
 6,044 84 
 1,930 82 
 1,621 40 
 184 65 
 
 Cables 
 
 do. 
 
 1,449 
 
 8 
 
 115 92 
 
 Steel - 
 
 do. 
 
 12,862 
 
 4 
 
 514 48 
 
 Twine and packthread - * . 
 Glauber salts - 
 Coal - 
 
 cwt. 
 do. 
 do. 
 
 6,378,117 
 68,306 
 3,208 
 
 200 
 800 
 400 
 
 12,756 80 
 550 43 
 14 29 
 
 Pish Dried or smoked - J 
 Pickled salmon 
 mackerel - - ~ 
 
 other ' 
 
 bushels 
 cwt. 
 barrels 
 do. 
 
 25,121 
 18,954,204 
 1,118 
 1,692 
 
 10 
 100 
 2CO 
 120 
 
 2,512 10 
 18,954 54 
 2,236 00 
 2,030 40 
 
 
 do. 
 
 5,121 
 
 80 
 
 4,096 80
 
 ISla] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 69 
 
 g All other articles, viz : 
 
 duantity. 
 
 Rate of 
 duty. 
 
 Duties. 
 
 .Glass black quart bottles 
 
 - gross 
 
 850 
 
 Cents . 
 120 
 
 81,020 00 
 
 window, not above 8 by 10 inches 
 
 100 sq. ft. 
 
 2,017 
 
 320 
 
 6,457 60 
 
 window, not above 10 by 12 inches 
 
 do. 
 
 531 
 
 350 
 
 1,858 50 
 
 window, above 10 by 12 inches - 
 
 do. 
 
 149 
 
 450 
 
 670 50 
 
 Segars - - - 
 
 M 
 
 1,680 
 
 400 
 
 6,720 00 
 
 Foreign lime- >;- '" - - '* - 13 
 
 "v* casks 
 
 363 
 
 100 
 
 363 00 
 
 Boots - L * - _ . 
 
 pairs 
 
 1,037 
 
 150 
 
 1,555 50 
 
 Shoes and slippers silk - 
 
 TT do. 
 
 194 
 
 50^ 
 
 97 00 
 
 morocco, leather, &c. 
 
 do. 
 
 11,210 
 
 30 
 
 3,363 00 
 
 morocco, for children 
 
 i^rt do - 
 
 1,170 
 
 20 
 
 234 00 
 
 Cards wool and cotton 
 
 - dozens 
 
 12 
 
 100 
 
 5. ^ 12 oo 
 
 playing - 
 
 - packs 
 
 5,595 
 
 ""* \ "S 
 
 50 
 
 2,797 50 
 
 i- ,1 
 
 . | 
 
 c* 
 
 g. 
 
 201,365 G8 
 
 
 JX* J -X 
 
 I . 1 ^ 
 
 ' 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 14, 1815. 
 
 JOSEPH NOURSE. 
 
 i 
 
 ii$r*sa 
 
 .a. 6P -M j g s ^ 
 
 . P 5 - . ' ' IP 2 "^ * 
 r ip^ gj 
 
 2-E 
 
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 a -i, 
 

 
 O 
 
 NT of the lands sold in the districts of Marietta, Zanesmlle, Sleubenville, Canton, Chillicothe, Cincinnati 
 le, Vmccnnes, Shawneeiown, and Kaskaskia, from the 1st of October, 1814, to the 30th of September, 1815- 
 Iso, the amount of receipts from individuals, and payments made by receivers, during the same time : with 
 due, both on 1st October, 1814, and 30th September, 1815. 
 
 
 
 | 
 
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 10 
 
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 On account 
 of forfeitures. 
 
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 On acc't of pur- 
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 CO iOXZ! J^- 00 I O O ^ I"- 
 
 00 
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 1815.] 
 
 SECRETARY OF THE TREASURY. 
 
 71 
 
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 1816.] SECRETARY OF THE TREASURY. 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1816. 
 
 In obedience to the directions of the " Act supplementary to the act en- 
 titled an act to establish the Treasury Department," the Secretary of the 
 Treasury respectfully submits the following report and estimates. 
 
 REVENUE. 
 
 The nett revenue arising from duties on merchandise and tonnage, inter- 
 nal duties, direct tax, public lands, postage, and incidental receipts, which 
 accrued during the year 1814, amounted to $11,500,606 25 
 
 And that which accrued from the same sources during 
 the year 1815, amounted to - $49,893,219 02 
 
 Viz. 
 
 Customs, as appears by statement A $36,643,598 77 
 Internal duties do B 5,963,225 88 
 
 Direct tax do C 5,723,152 25 
 
 Public lands - 1.287,959 28 
 
 Postage, and incidental receipts - -/ :. 275,282 84 
 
 $49,893,219 02 
 
 The revenue which has accrued from the same sources 
 during the first three quarters of the year 1816, and that 
 which will accrue during the remaining quarter, is esti- 
 mated to amount to - - - . $38,650,000 00 
 
 __. * } > 
 
 Viz. - 1 ., 
 
 Customs . $30.000,000 00 
 
 Internal duties ^ t - 4^150,000 00 
 
 Direct tax (nett proceeds) - - 2,700,000 00 
 Public lands (exclusive of receipts 
 
 in the Mississippi Territory) - 1,500,000 00 
 
 Postage, and incidental receipts v^. . 300,000 00 
 
 $38,650,000 00 
 
 The receipts in the Treasury from the same sources, 
 
 during the year 1816, are estimated to amount to - 46,900,000 00 
 
 Viz. 
 
 Customs - ^. : - 36,000.000 00 
 
 Direct tax - . 4,200,000 00 
 
 Internal duties . 4.900,000 00 
 
 Public lands . 1^500,000 00 
 
 Postage, and incidental receipts - 300,000 00 
 
 $46,900,000 00
 
 74 
 
 REPORTS OF THE 
 
 [1816. 
 
 Receipts from loans, and Treasury notes: 
 Loans under the act of 15th Nov., 1814, 
 Loans under the act of 3d March, 1815, 
 Temporary loans 
 
 Amount actually borrowed to 30th Sep- 
 tember, 1816 - 
 Treasury notes: amount issued prior to the 
 
 1st October, 1816, under the act of 24th 
 
 February, 1815: 
 Notes bearing interest, per 
 
 statement L - - $4,274,800 '00 
 
 Small Treasury notes 
 
 not bearing interest-^ 
 
 amount issued and re- 
 issued - - 5,773,168 00 
 
 $243,911 39 
 318,675 52 
 150,000 00 
 
 712,586 91 
 
 - 10,047,968 00 
 
 Making the total amount estimated to be actually re- 
 ceived into the Treasury during the year 1816 - 
 
 Cash in the Treasury at the commencement of the year, 
 (including an item of $6,361,125 43 in Treasury notes,} 
 which had been paid for duties and taxes 
 
 10,760,554 91 
 
 57,660,554 91 
 
 13,100,502 ftfi 
 
 Making the amount estimated to be actually received 
 into the Treasury, during the year, including the sum in 
 
 the Treasury on the 1st day of January last 
 
 70,667,147 79 
 
 The application of the moneys actually received into the Treasury du- 
 ring the year 1816 will be as follows: To the 30th September, the pay- 
 ments have amounted to the following sums nearly : (the accounts being 
 not yet made up, the precise amount cannot be given :) 
 
 For civil, diplomatic, and miscellane- 
 ous expenses - - $2,359,404 99 
 
 Military service (including an arrearage 
 of $11,212,560) - - 14,079,009 2? 
 
 Naval service - 2 : 707,009 27 
 
 Public debt, viz : . 
 
 Interest and reimburse- 
 ment - $8,009,936 34 
 
 Reimbursement and in- 
 terest of Treasury 
 notes - 5,606,650 24 
 
 During the fourth quarter of the year the payments are 
 estimated to amount to the following sums, viz : 
 For civil, diplomatic, and miscellane- 
 ous expenses . ; ,,i-: $750,00000 
 Military service . 2,450,000 00 
 Naval service . 1,200,000 00 
 
 $32,762,416 84
 
 1316.] SECRETARY OF THE TREASURY. 75 
 
 Public debt, viz: Interest and reimburse- 
 ment to the 1st of January, 1816, in- 
 clusive - $2,100,000 00 
 Ditto, reimbursement 
 of Treasury notes 13.000,000 00 
 
 $15,100,000 00 
 
 $19.500,000 00 
 
 52,262,416 84 
 
 The receipts into the Treasury during the year have 
 
 been estimated at - $57,660.554 91 
 
 And the balance at the commencement 13,106.592 88 
 
 70,767.147 79 
 
 Leaving in the Treasury on the 1st January, 1817, the 
 
 sum of - - ^18,504,730 95 
 
 Of which sum it is estimated that $10,000,000 will be in cash, and the re- 
 mainder in Treasury notes, principally issued under the act of the 24th of 
 February, 1815, which cannot be reimbursed without an appropriation for 
 that purpose. 
 
 Notwithstanding the favorable situation of the Treasury, the disordered 
 state of the currency still continues to embarrass the fiscal operations of the 
 Government. The expectation which had been formed, that the demands 
 upon the Treasury, in the eastern section of the Union, might be paid in the 
 local currency by the end of the year, has not been realized. To discharge 
 the claims in that quarter, arising from the interest and reimbursement of 
 the public debt which will be payable on the 1st day of January next, small 
 Treasury notes must be issued, or a temporary loan must be obtained from 
 the Bank of the United States, to the amount of those demands. The lat- 
 ter alternative has been embraced, and a proposition for that purpose has 
 been made to the bank, and has been favorably received by it. 
 
 When those claims are satisfied, there will be no further embarrassment 
 until the next quarterly payment of interest. To prevent the necessity of re- 
 sorting again to loans for that object, the re-issue of Treasury notes, of all de- 
 scriptions, should be discontinued. When this course is adopted and perse- 
 vered in, the revenue in that quarter will be collected in current money, and 
 will be more than sufficient to satisfy all the claims of the public creditors. 
 The more certainly to effect that object, it is respectfully recommended that 
 an appropriation be made during the present session of Congress for the re- 
 imbursement of the whole of the Treasury notes issued under the act of the 
 24th of February, 1815. The Treasury notes issued under the preceding 
 laws have either been reimbursed, or provision made for that object, during 
 the last quarter of the year. The acts under which they issued having, by 
 appropriations, provided for their reimbursement, no further appropriations 
 are necessary for that purpose. 
 
 OF THE PUBLIC DEBT. 
 
 The funded debt contracted before the late war, which 
 was unredeemed on the 1st of January, 1816, amounted, as 
 appears by statement B, to ... $38,340.906 77
 
 76 REPORTS OF THE ]1816. 
 
 By the same statement, it appears that the funded debt, 
 contracted on account of the late war, amounted on that 
 day to - ' $ 6o > 944 > 434 
 
 Making the whole funded debt on the 1st of January, 
 1816, amount to - - 104,285,341 Ob 
 
 To which must be added temporary loans, viz : 
 Due the State Bank, Boston - - $500,OC 
 
 Cumberland Bank, Maine - 50,OC 
 
 Banks in the District of Columbia - 175,000 00 
 S,a,e of New York - - - SayXMOO 
 
 Making an aggregate amount, on that day, of - 105,360,341 06 
 
 To this amount there have been added, between the 1st 
 day of January, 1816, and the 30th of September, the 
 following sums, viz : 
 
 Six per cent, stock of 1814 - - $292,801 31 
 
 Six per cent, stock of 1815 - - 335,448 90 
 
 Six per cent. Treasury note stock - 58,24578 
 Seven per cent. do. - 4,570,621 00 
 
 . '5,257,116 99 
 
 From which deduct temporary loans 
 paid off - $1,025,000 00 
 
 Reimbursement of old 
 six per cent, and de- : 
 ferred stock - - 846,639 76 
 
 --- 1,871,639 76 
 
 __ -- 3,385,477 23 
 
 Making the whole public debt on the 30th of September, 
 1816, as appears by statement C, amount to - 108,745,818 29 
 
 Viz: 
 
 Old funded debt - - $37,494,267 01 
 
 New funded debt - - 71,201,551 28 
 
 Temporary loan ..- . 50,000 00 
 
 $108,745,818 29 
 
 '>,.. , - ' --- : - -.>'>''< "? K't 
 
 Add the amount of 7 per cent, stock, which, it is esti- 
 mated will be created during the last quarter of the year, 
 by funding small Treasury notes . 520.405 00 
 
 Makes the estimated amount of the public debt on the 
 1st January, 1817 - 109,266,223 29 
 
 The subscription to the Bank of the United States, on 
 the part of the Government, will create 5 per cent, stock 
 to the amount of, . ^ - ; 7,000,000 00 
 
 And the compromise with the Yazoo claimants has 
 created stock to the amount of X . . 4,098,615 29
 
 1816.] SECRETARY OF THE TREASURY. 77 
 
 Bat as the first is only an exchange for the same amount of bank capital, 
 which will probably produce an excess of dividends beyond the interest 
 payable on the stock, equal to the reimbursement of the principal before 
 the expiration of the charter, and the second bears no interest, and will 
 probably be reimbursed by the sales of the public lands in the Mississippi 
 Territory, during the three succeeding years, no further provision for their 
 ultimate redemption appears to be necessary. 
 
 SINKING FUND. 
 
 According to the existing laws, the sinking fund consists of a permanent 
 appropriation of 8.000,000 dollars per annum, which is vested in the com- 
 missioners of the sinking fund, to be by them applied to the payment of 
 the interest of the public debt, and to the redemption of the principal. Of 
 this sum, there will be required, during the year 1817, for the payment of 
 interest, $6,084,415 93; leaving the sum of $1,915,584 07 to be applied 
 to the redemption of the principal of the debt. This sum, operating upon 
 the principle of compound interest, will not redeem the whole amount of 
 the funded debt before the year 1842. An attentive examination of the 
 rise and progress of public debts in other countries cannot fail to impress 
 the American republic with the necessity of making suitable exertions in 
 periods of peace, to release the national revenue from so heavy an encum- 
 brance. Although, from our happy form of government, and from our 
 fortunate geographical position, we may reasonably calculate upon being 
 less frequently subjected to the calamities of war than has hitherto fallen 
 to the lot of other civilized nations, yet reason and experience forbid the 
 expectation that we shall be exempted from its evils until the redemption of 
 the public debt shall be effected by the operation of the existing sinking 
 fund. 
 
 By referring to the laws authorizing the several loans, which, during the 
 late war, have swelled the public debt to its present amount, Congress has 
 uniformly pledged the faith of the nation to provide sufficient funds for the 
 payment of the interest, and the redemption of the principal, of the debt so 
 created. The time has now arrived when that pledge ought to be redeem- 
 ed. It is therefore respectfully proposed, that there be annually appro- 
 priated the sum of $2,000,000, in addition to the sum of $8,000,000, now 
 applicable to the payment of the interest, and the redemption of the princi- 
 pal of the public debt ; and that that sum be vested in the commissioners 
 of the sinking fund, to be applied in the same manner as the existing sink- 
 ing fund. It is also proposed, that when the six per cent, stock can be pur- 
 chased at par, or the seven per cent, stock can be purchased at six per cent, pre- 
 mium, or when a greater amount can be redeemed, according to the condi- 
 tions attached to the different loans of which the funded debt is composed, 
 than the amount of the sinking fund applicable to the redemption of the 
 principal of the funded debt within any one year, there be paid to the com- 
 missioners of the sinking fund the further sum of $1,000,000 out of any 
 money in the Treasury not otherwise appropriated, if such payment can be 
 made, leaving a balance in the Treasury at the end of the year of 
 $2,000,000; which additional sum shall be applied to the redemption or 
 purchase of the principal of the debt 
 
 As the funded stock which maybe subscribed by individuals to the Bank 
 of the United States is redeemable at the will of the Government, and as 
 the Louisiana stock is to be reimbursed in four annual instalments, com-
 
 
 78 
 
 [1816. 
 
 mencing in the year 1818, the effect of the provision will be an annual ad- 
 dition of $1,000,000 for the succeeding six years, if the state of the Trea- 
 sury will admit of its execution. 
 
 By the operation of the sinking fund, thus enlarged, the whole funded 
 debt will be extinguished within the term of fourteen years. In the present 
 unsettled state of the revenue, arising from excessive importations of foreign 
 merchandise during the previous and present year ; from the change in the 
 rate of duties imposed upon merchandise ; and from changes made in the 
 various branches of internal revenue ; it w^ould be unsafe to vest the whole of 
 the surplus revenue of the present year in the commissioners of the sink- 
 ing fund, as there is strong reason to believe that the revenue which will 
 accrue during the year 1S17 will fall considerably below the permanent 
 annual expenditure, inclusive of the addition proposed to be made to the 
 sinking fund. That deficiency, as well as any other which may occur in 
 the two succeeding years, will be covered by the balances which it is esti- 
 mated will be in the Treasury on the 1st day of January, 1817, and 1818. 
 
 OF THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURES FOR 
 
 THE YEAR 1816. 
 
 The probable authorized demands upon the Treasury, during the year 
 1817, are estimated to amount to $21,751,797 57 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous 
 expenses - $1,765,513 03 
 
 Military service, (including an arrear- 
 age of $1,540,000,) - 7,999.625 79 
 
 Naval service, (including $1,000,000 
 for permanent increase of navy) - 3,986,65875 
 
 Public debt - . 8.000,000 00 
 
 $21,751,797 57 
 
 Deduct war arrearages 
 
 Add for annual incidental expenditures not embraced 
 in the estimate - . . 
 
 Making the permanent annual expenditure - 
 
 To which add the sum proposed to the sinking fund 
 
 Making, in the whole, an aggregate amount for the 
 permanent annual expenditure, until the public debt is re- 
 deemed, of (i , r . . V . _ 
 
 1,540,000 00 
 
 $20,211,797 57 
 
 288,202 43 
 
 20,500,000 00 
 3,000.000 00 
 
 23,500,000 00 
 
 The annual report of the Secretary of the Treasury for the year 1815 
 
 estimated the revenue which would accrue during the year 1816, under the 
 
 modifications proposed by that report to the existing laws for raising reve- 
 
 ue ' - $25,600.000 00 
 
 - . $17,000,000 00 
 4,500^000 00 
 
 Internal duties
 
 1S16.] SECRETARY OF THE TREASURY. 79 
 
 Direct tax, (nett proceeds) - - $2,700,000 00 
 
 Public lands - - 1,000,000 00 
 
 Postage, and incidental receipts <n)j| 400.00000 
 
 $25,600,000 00 
 
 But the revenue which has actually accrued during the 
 year, is estimated, as already stated, at ,-r - $38,650,000 00 
 
 Making: an aggregate excess, beyond the estimate of the 
 last year^of * - - . - $13,050.000 00 
 
 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 - ' -$33,400,00000 
 
 Yiz. 
 
 Customs - -$21,000,00000 
 
 Internal duties - 5,000,000 00 
 
 Direct tax - 6,000,000 00 
 
 Public lands , - . 1,000,000 00 
 
 Postage, and incidental receipts' r -'* 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 - 46.900.000 00 
 
 Leaving an excess of receipts beyond the estimate, of $13,500,000 00 
 
 The actual excess in the customs, beyond the estimate of 
 1815, being -$15,000,00000 
 
 In the internal duties, direct tax. and postage, there is 'a 
 deficit of - - - - . - - " 2,000,000 00 
 
 13,000,000 00 
 And an excess in public lands, of - 500,000 00 
 
 Making, as before stated, the whole excess - - $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 difficul- 
 ty. The revenue which accrued from imports and tonnage during the first 
 three quarters of the year 1816 have averaged nine millions of dollars a quar- 
 ter ; 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 reduc- 
 tion 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 twelve millions.
 
 80 REPORTS OF THE [1816. 
 
 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 expenditures of the Government should be regu- 
 lated. From the facts in the possession of the department, the revenue which 
 will accrue during that year is estimated as follows, viz : 
 Customs - - - $18,000,000 00 
 
 Internal duties - - 2,500,000 00 
 
 Public lands - 1,500,000 00 
 
 Postage, and incidental receipts 250,000 00 
 
 Making an aggregate amount of - $22,250,000 00 
 
 In the year 1819, the first instalment of the bonus paya- 
 ble by the Bank of the United States becomes due 500,000 00 
 
 During the same year, it is believed that the claim of the - 
 State of Georgia will be paid, and the Mississippi stock 
 will be absorbed by the sale of public lands in the Mississippi 
 Territory, which will give an additional revenue from the 
 public lands, for the year 1820, and for subsequent years, of 1,500,000 CO 
 
 Making the revenue for the year 1 820 amount to - $24,250,000 00 
 
 Which may be estimated as the permanent annual revenue after that 
 period. 
 
 But the receipts into the Treasury, during the year 1817, are estimated 
 as follows: viz. 
 
 Customs - $24,000,000 00 
 
 Internal duties - 2,900,000 00 
 
 Direct tax, (outstanding and receivable 
 
 that year) 2,000,000 00 
 
 Public lands 1,500,000 00 
 
 Postage, arid incidental receipts - 250,000 00 
 
 $30,650,000 00 
 
 To which add the balance in the Treasury on the 1st 
 day of that year - . 10,000,000 00 
 
 Total ways and means for 1817 - - - $40,650,000 00 
 
 The expenditure for that year, as before stated, including 
 the proposed addition to the sinking fund, is estimated to 
 amount to . 25,000,000 00 
 
 Leaving a balance in the Treasury, on the 1st day of 
 January, 1818, of . $15,650,000 00 
 
 WAYS AND MEANS FOR 1818. 
 
 Balance in the Treasury, as before stated $15,650,000 00 
 Customs - ;:-. . 12,000.000 00 
 
 S 1 ur na , d ^ ties vJ& -'' 2,500;00000 
 
 Public lands . ** i j5 ou,000 00 
 
 Postage, and incidental receipts - 250,000 00 
 
 $31,900,000 00
 
 1S16.] SECRETARY OF THE TREASURY. 81 
 
 The permanent expenditure, including the proposed addition 
 to the sinking fund, has been estimated at - - $23,500,000 
 
 Balance in the Treasury, on the 1st of January, 1819, esti- ' 
 mated at - - $8,400,000 
 
 WAYS AND MEANS FOR 1819. 
 
 Balance in the Treasury, as above stated - $8,400,000 
 
 Customs - * 18,000,000 
 
 Internal duties -&--*- *-*- *r#r -~ 2,500,000 
 
 Public lands m, - - 1,500,000 
 Bonus from the United States Bant, payable 
 
 this year - 500,000 
 
 Postage, and incidental receipts 250,000 
 
 $31,150,000 
 
 Permanent expenditure, as before stated - - - 23,500,000 
 
 Leaving in the Treasury, on the 1st day of January, 1820, a 
 
 balance of way 7,650,000 
 
 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 - 750,000 
 
 
 
 Making an excess of revenue beyond the estimated expend- 
 iture during the next four years, of - 8,400,000 
 
 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, 
 
 Secretary of the Treasury. 
 TREASURY DEPARTMENT, 
 
 December 16, 1816. 
 
 !o -A$(X* .Jrm !;<* :'.'. 
 fl|lRi8&<8 now T^ib.l 
 
 VOL. ii. 6 
 
 'i,i! f 00- , to $'x>>8 > .itfyo isq.,>." 
 
 . - , oitfwapNiftiMf&i
 
 82 
 
 
 
 
 [1816. 
 
 A. 
 
 STA TEMENT exhibiting the amount of duties which accrued on mer- 
 chandise, tonnage, passports, and clearances ; of debentures issued on 
 the exportation of foreign merchandise ; and of expenses of collection, 
 during the year 1815. 
 
 Merchandise. 
 
 Ton- 
 nage, &c. 
 
 Pass- 
 ports. 
 
 Debentures 
 issued. 
 
 Gross revenue. 
 
 Expenses of 
 collection. 
 
 Nett revenue. 
 
 838,068,890 30 
 
 $6 18,341 
 
 $15,932 
 
 01,650,671 91 
 
 $37,052,492 26 
 
 1408,893 49 
 
 836,643,598 77 
 
 B. 
 
 STATEMENT of the funded debt of the United States, and of tempo- 
 rary loans, on the 1st of January, 1816. 
 
 FUNDED DEBT. 
 
 Exclusive of sums passed to the credit of the sinking fund : 
 Six per cent, stock - $17,250,871 4J 
 Three per cent, stock - 16,158,180 79 
 Deferred stock - - 9,358,320 34 
 
 10,923,500 00 
 
 Louisiana stock 
 
 Six per cent, stock of 
 
 1796- 
 Exchanged six per cent*. 
 
 stock of 1812 
 
 80,000 00 
 2,984,746 72 
 
 Six per cent, stock of 
 
 1812, 11 million loan 7,810,500 00 
 Six per cent, stock of 
 
 1813, 16 million loan 18,109,377 43 
 Six per cent, stock of 
 
 1813, 7| million loan 8,498,581 95 
 Six per cent, stock of 
 
 1814, 25 million loan 15,661,818 54 
 Six per cent, stock of 
 
 1815,$lS,452,8001oan 11,952,700 74 
 Six per cent, stock of 
 Treasury notes, bear- 
 ing interest, funded at 
 
 $56,755,619 26 
 
 Seven per cent, stock of 
 small Treasury notes 
 funded . 
 
 2,481 63 
 
 3,908,974 00 
 
 65,944,434 29 
 
 -$122,700.053 55
 
 1816.] SECRETARY OF THE TREASURY. 83 
 
 TEMPORARY LOANS. 
 
 Xifa. l fciMi!-:!/^- 
 
 Due the State Bank, Boston - - $500,000 00 
 
 Cumberland Bank, Maine - 50,000 00 
 
 Banks in the Dis. of Columbia - 175,00000 
 State of New York - - 350,000 00 
 
 (a)$l,075,000 00 
 
 Nominal amount of the funded debt and temporary loans 
 
 1st January, 1816 - - $123,775,053 55 
 
 Deduct reimbursement of the old six per 
 cent, and deferred stocks, to the 31st 
 December, 1815, per Treasury settle- 
 ments (6) $24,341,990 68 
 
 From this sum deduct reim- 
 bursement paid on stock 
 subsequently transferred 
 to the sinking fund - $28.748 02 
 
 And the difference between 
 the nominal amount of 
 6 per cent, and deferred 
 stock exchanged, and the 
 amount of exchanged 
 stock issued in lieu there- 
 of 5,898,530 17 
 
 5,927,278 19 
 
 18,414,712 49 
 
 Unredeemed amount, 1st January, 1816 (c) $105,360,341 06 
 
 Nominal amount, as above stated, brought down $123,775,053 55 
 
 fcJtod ^ SINKING FUND. 
 
 The following sums are, in the Treasury books, passed 
 to the credit of this fund : 
 
 Foreign debt. 
 
 5 per cent, stock - $8,200,000 00 
 4 per cent. do. - 820,000 00 
 4 per cent. do. - 3,180,000 00 
 
 $12,200,000 GO 
 
 tj i -) 
 Domestic debt. 
 
 6 per cent, stock - 1,946,026 92 
 3 per cent. do. . 698,555 41 
 Deferred do. - 1,005,179 83 
 8 percent, do. - 6,482,500 00 
 Exch'd6per cent, stock- 6,294,051 12 
 Converted 6 per cent. do. 1,859,850 70 
 4 per cent, stock - 176,000 00 
 5j per cent. do. - 1,848,900 00
 
 84, 
 
 REPORTS OF THE 
 
 [1816. 
 
 Navy 6 per cent, stock - $711,700 00 
 Louisiana do. - 326,500 00 
 
 6 per cent, stock of 1812 - 324,200 00 
 
 $21.673,463 98 
 
 $33,873,463 98 
 
 (rf) $157,648,517 53 
 
 NOTES. 
 
 (a) Amount of temporary loans unpaid, 1st Jan. 1815 - $600,000 00 
 
 Received into the Treasury in 1815 : 
 
 From the City Bank of New York - $200,000 00 
 
 Mechanics' do. do. - 200,000 00 
 
 Manhattan do. do. 200,000 GO 
 
 Mechanics' do. do. 75,000 00 
 
 Bank of America do. 75,000 00 
 
 Manhattan Bank do. 75,000 00 
 
 City Bank do. 75,000 00 
 
 Mechanics' Bank do. 200^000 00 
 
 State of New York - 350,000 00 
 
 Banks in the Dis. of Columbia - 175.000 00 
 
 Bank of Virginia 450,000 00 
 
 Farmers' Bank of Virginia - 200,000 00 
 
 Paid off in 1815, per public printed accounts - 
 Amount, as above stated , -: - 
 
 2,275,000 00 
 
 2,875,000 00 
 1,800,000 00 
 
 - $1,075,000 00 
 
 (6) This is the aggregate of the several annual settlements predicated on 
 the quarter-yearly dividends, payable from the 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. 
 
 (c) Unredeemed amount, 1st January, 1815 - 
 Additions in 1815 : 
 3 per cent, stock in 
 
 6 per cent. do. 1812 "-^ 
 
 Do. do. 1814 - 
 Do. do. 1815 - 
 Do. Treasury notes funded - 
 
 7 per cent, small do. do. 
 
 - $89,110,337 20 
 36 
 
 
 Temporary loans 
 
 17,341,127 02 
 2,275,000 00 
 
 .ofc, 
 :ob- , 
 ina*? t&\ 
 
 JO -l'*l ft 
 
 19,616.127 02
 
 1816.] SECRETARY OF THE TREASURY. 85 
 
 Deduct reimbursement of old 
 six per cent, and deferred 
 stocks in 1815 - $1,566,123 16 
 
 And temporary loans paid off 1,800,000 00 
 
 $3,366,123 16 
 
 $16,250,003 86 
 
 As above $105,360.341 06 
 
 (d) Nominal amount, including sinking fund, 1st January, 
 
 1815 $139,832,390 51 
 
 Additions in 1815, including temporary loans - 17,816,127 02 
 
 As above , - $157,648,517 53 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 19, 1816. 
 
 JOSEPH NOURSE, Register. 
 
 CL 
 
 *>< . ,'v<E ffl? * ' 
 
 ESTIMATE of the funded debt of the United States, and of the tem- 
 porary loans, on the 1st of October, 1816. 
 
 FUNDED DEBT. 
 
 I UjTT t , 4 
 
 Exclusive of sums passed to the credit of the sinking fund: 
 Six per cent, stock - $17,250,871 41 
 
 Three per cent, stock - 16,158,180 79 
 
 Deferred stock - 9,358,32034 
 
 Louisiana stock - 10,923,500 00 
 
 Six per cent, stock of 1796 ' 80,000 00 
 
 Exchanged six per cent, stock of 1812 . 2,984,746 72 
 
 $56.755,619 26 
 
 Six per cent, stock of 1812, 11 million 
 
 loan - 7,810,500 00 
 
 Six per cent, stock of 1813, 16 million 
 
 loan . 18,109,377 43 
 
 Six per cent, stock of 1813, 7 million 
 
 loan . 8,498,581 95 
 
 Six per cent, stock of 1814, 25 and 3 
 
 million loan - 15,954,619 85 
 
 Six percent, stock of 1815, $18,452.800 
 
 loan . 12,288,149 64 
 
 Six per cent, stock, Treasury notes, per 
 
 25th February, 1815, funded 60,727 41 
 
 Seven per cent, stock, small Treasury 
 
 notes, funded - 8,479,595 00 
 
 127,957,170 54
 
 S6 REPORTS OF THE [1816. 
 
 TEMPORARY LOANS. 
 
 Due Cumberland Bank, Maine - . .--.- ,,. - $50,00000 
 
 Nominal amount of funded debt and temporary loans, 1st 
 October, 1816 - 128,007,170 54 
 
 Deduct reimbursement of the old six per 
 cent, and deferred stocks, to the" 31st De- 
 cember, 1815, per Treasury settlements $24,341,990 68 
 
 To the 1st October, 1816, estimated at - 846,639 76 
 
 25,188,630 44 
 Deduct, as per last annual statement - 5,927,278 19 
 
 19,261,352 25 
 
 Unredeemed amount, 1st October, 1816 - "-' (a) $108,745,818 29 
 Nominal amount, as above stated, brought down - $128,007,170 54 
 
 SINKING FUND. 
 
 The following sums are, in the Treasury books, passed 
 to the credit of this fund : 
 
 Foreign debt. 
 
 5 per cent, stock - - $8,200,000 00 
 4 per cent, stock - 820,000 00 
 4 per cent, stock - - 3,180,000 00 
 
 ^$12,200,000 00 
 
 Domestic debt. 
 
 6 per cent, stock - - 1,946.026 92 
 3 per cent, stock - - 698^555 41 
 Deferred stock - - 1,005,179 83 
 8 per cent, stock - - 6,482,500 00 
 Exchanged 6 per cent, stock 6,294,051 12 
 Converted 6 per cent, stock 1,859,850 70 
 4 per cent, stock 176,000 00 
 5t per cent, stock - 1,848,900 00 
 Navy 6 per cent, stock - 711,700 00 
 Louisiana 6 per cent, stock 326,500 00 
 6 per cent, stock of 1812 - 324,200 00 
 
 21,673,463 98 
 
 _ 33.873,463 98 
 
 (6) $161,880,634 52
 
 1816.] SECRETARY OF THE TREASURY. 87 
 
 NOTES. 
 
 (a) Unredeemed amount 1st of January, 1816 - - $105,360,341 06 
 
 Additions to 1st of October, 1816 : 
 Six per cent, stock of 1814 '- $292,801 31 
 
 Six per cent, stock of 1815 ' -\ 335,448 90 
 
 Treasury note six per cent, stock 58,245 78 
 
 Treasury note seven per cent, stock - 4,570,621 00 
 
 5,257,116 99 
 
 110,617,458 05 
 
 Deduct temporary loans paid off - 1,025,000 00 
 
 And reimbursement of the old six per 
 cent, and deferred stocks -- ? - 846,639 76 
 
 1,871,639 76 
 
 Unredeemed amount, as above - - $108,745,818 29 
 
 (b) Nominal amount, including sinking fund, 1st of Jan- 
 uary, 1816 - - - $157,648,517 53 
 Additions in 1816 ,- ... iV - r , - - 5,257,116 99 
 
 162,905,634 52 
 
 Deduct temporary loans paid : 
 
 To the State Bank, Boston - - $500,000 00 
 
 Banks in the District of Columbia *- 175,00000 
 The State of New York - 350.000 00 
 
 1^025,000 00 
 
 Nominal amount, as above ' - ' - $161,880,634 52 
 
 TREASURY DEPARTMENT, 
 
 Registers Office, December 19, 1816. 
 
 JOSEPH NOURSB, Register. 
 
 ' oiiJ o 
 
 '""..: .iijkv'^lo -!9t3.CI> 
 
 ,j,"
 
 88 REPORTS OF THE [1817. 
 
 ^ 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1817. 
 
 In obedience to the directions of the "Act supplementary to 'An act to 
 establish the Treasury Department,' " the Secretary of the Treasury re- 
 spectfully submits the following report and estimates. 
 
 ' . Y" -. " Vjl"' '-'.' i !. 
 
 REVENUE. 
 
 The nett revenue arising from duties upon imports and tonnage, internal 
 duties, direct tax, public lands, postage, and incidental receipts, during the 
 year 1815, amounted to - - $49,552,852 02 
 
 Viz: 
 
 Customs ... $36,303,231 77 
 
 Internal duties - - 5,963,225 88 
 
 Direct tax - 5^723,152 25 
 
 Public lands, exclusive of those in the State 
 of Mississippi and the Alabama Terri- 
 tory - - 1,287,959 28 
 Postage, and incidental receipts - 275,282 84 
 
 And that which accrued from the same sources, during the year 1816, 
 amounted to - $36,743,574 07 
 
 Yiz: 
 
 Customs (see statement A) $27,569,769 71 
 
 Internal duties (see statement B) - . - 4,396,133 25 
 Direct tax (see statement C) - 2,785.343 20 
 
 Public lands, exclusive of those in the State 
 of Mississippi and the Alabama Terri- 
 tory (see statement D) - 1.754,487 38 
 Postage, and incidental receipts - 237,840 53 
 
 It is ascertained that the gross amount of duties on merchandise and ton- 
 nage, which have accrued during the first three quarters of the present 
 year, exceed $17,000,000 j and that the revenue arising from internal du- 
 ties and from the public lands, during the same period, exceeds that of the 
 corresponding quarters of the year 1816. 
 
 The balance in the Treasury, on the 1st day of January, 1817, exclu- 
 sive of $10,665,287 89 in Treasury notes of every description, amounted 
 to . $11,295,592 86 
 
 The payments into the Treasury, during 
 
 the first three quarters of the year, are 
 
 estimated to amount to $27,095,984 14
 
 1817.] 
 
 SECRETARY OF THE TREASURY. 
 
 89 
 
 Viz: 
 
 Customs - $21,732,068 22 
 
 Internal revenue and di- 
 rect tax - 3,480,173 43 
 
 Public lands, exclusive of 
 those in the State of 
 Mississippi and the 
 Alabama Territory - 1,326,077 44 
 
 Postage, and incidental 
 receipts 26,913 93 
 
 Repayments into the 
 Treasury - - 530,751 13 
 
 And the payments into the Treasury 
 during the fourth quarter, from the same 
 sources, are estimated at 
 
 
 $5,980,000 
 
 Making the total amount estimated to be received into the 
 
 Treasury, during the year 1817, amount to 
 
 - $33,075,984 14 
 
 Which added to the sum in the Treasury on the 1st day of 
 January last, makes the aggregate amount of - - 44,371,57700 
 
 The application of this sum for the year 1817, is esti- 
 mated as follows, viz : 
 To the 30th September the payments have 
 amounted to - - $32,710,002 88 
 
 Viz: 
 
 Civil, diplomatic, and mis- 
 cellanous expenses, ex- 
 clusive of $375,000 
 paid to the State of 
 Georgia from the pro- 
 
 ceeds of the Mississippi 
 
 lands - 
 
 Military service, including 
 arrearages 
 
 Naval service --/. 
 
 Public debt, exclusive of 
 $3,592,927 60, of Trea- 
 sury notes, which have 
 been cancelled in due 
 course of settlement - 
 
 - $2,798,248 75 
 
 7,105,816 90 
 2,044,474 25 
 
 " 
 
 During the fourth quarter it is estimated 
 that the payments will amount to 
 Viz: 
 
 Civil, diplomatic, andmis- 
 cellaneous expenses - $600,000 
 
 Military service - 1,110,000 
 
 Naval service - 1.300,000 
 
 Public debt to 1st January, 
 
 1818, inclusive 2,650,000 
 
 Making the aggregate amount oT~ - 
 
 5.660,000 00 
 
 38,370,002 88
 
 . 
 90 REPORTS OF THE [1817. 
 
 And leaving on that day, exclusive of $8,682,697 70 in 
 Treasury notes,, which are in a train of settlement in 
 order to be cancelled, a balance in the Tresury of - 
 
 OF THE PUBLIC DEBT. 
 
 The funded debt contracted before the year 1812, which 
 was unredeemed on the 1st day of October, 1816, as ap- 
 pears by statement No. 1, amounted to $37,494,267 01 
 
 By the same statement it appears that the 
 funded debt contracted subsequent to 
 the 1st day of January, 1812, amounted 
 to - - 71,201,551 28 
 
 Making together the sum of - 108,695,818 29 
 
 To which must be added the temporary 
 
 loan from the Cumberland Bank, of - 60,000 00 
 
 Making the aggregate amount of $108,745,818 29 
 
 On the 1st day of January, 1817, there was 
 
 added to the above amount, including 
 
 $7,000,000 of five per cent, stock sub- 
 
 scribed to the bank, and including also 
 
 a temporary loan from the bank, of 
 
 $500,000, the sum of - - $7,877,47161 
 
 From which deduct the amount of the old 
 
 six per cent, and deferred stocks reim- 
 
 bursed between the 1st day of October 
 
 and the 1st day of January, 1817, inclu- 
 
 sive, amounting to - 815,48442 
 
 Leaving the sum of 7,061 ,987 19 
 
 Making the public debt which was unredeemed on the 1st 
 day of January, 1817, as appears by statement No. 2, 
 amount to - 115,807,805 48 
 
 From the 1st day of January to the 30th day of Septem- 
 ber, 1817, inclusive, there was, by funding Treasury 
 notes, added to the public debt, as appears by statement 
 No. 6, the amount of - - 1,097,31543 
 
 Making on that day, as appears by statement No. 4, the 
 
 aggregate amount of - -116,905,12091 
 
 During the same period there was purchased and redeemed 
 of the public debt, including $550,000 of temporary 
 loans, the sum of * - \'-^ 
 
 Which deducted from the amount of the public debt last 
 stated, leaves unredeemed on the 1st day of October, 1817, 
 as per statement No. 3, the amount of - - - 99,911,84541 

 
 1817.] SECRETARY OF THE TREASURY. 91 
 
 Since the 30th September there has been 
 purchased or redeemed, of the principal 
 of the public debt, as appears by state- 
 ment No. 5, the amount of ' - - $333,235 16 
 
 And there will be reimbursed of the prin- 
 cipal of the old 6 per cent, and deferred 
 stock, to the 1st day of January, 1818, 
 inclusive, the amount of 709,513 70 
 
 Making together - $1,042.748 '86 
 
 Which being deducted from the aggregate amount of the 
 public debt on the 1st October, there will remain unre- 
 deemed, on the 1st January, 1818, the sum of - 98,869,096 55 
 
 By the same statement No. 5, it appears that the principal of 
 the public debt, purchased and redeemed during the year 
 1817, including $550,000 of temporary loans, amounts to $18,036,023 72 
 In this sum is included all the funded debt held by the Bank of the Uni- 
 ted States. 
 
 The old six per cent, stock will be redeemed in the course of the year 
 1818. The first instalment of the Louisiana debt falls due on the 21st day 
 of October of that year. According to the terms of the convention, this 
 debt is to be discharged by annual instalments, of not less than three millions 
 each. It is therefore presumed, that, consistently with the letter of the con- 
 vention, the whole debt cannot be discharged in one payment. But for this 
 obstacle, in the present state of the Treasury, and under the existing pro- 
 visions of the sinking fund, the whole amount of the stock might be 
 redeemed on the 21st day of October next. It is believed that neither the 
 letter nor spirit of the convention forbids the redemption of that stock, in 
 two annual instalments, by which the whole debt will be redeemed on the 
 21st day of October, 1819. 
 
 After the redemption of the Louisiana stock, there is no part of the prin- 
 cipal of the public debt redeemable at the will of the Government until 
 the 1st day of January, 1825, except the 5 per cent, stock, subscribed to the 
 Bank of the United States. As the commissioners of the sinking fund 
 are not authorized to redeem the 5 per cent, stock,, the permanent annual 
 appropriation of 10,000,000 of dollars, from the year 1819 to 1825, under 
 the existing laws, can only be applied to the payment of the interest of the 
 public debt, and to the gradual reimbursement of the principal of the 6 per 
 cent, deferred stock, and will leave during that period an annual surplus of 
 nearly five millions of dollars. 
 
 During the year 1825, the exchanged six per cent, stock, the six per cent, 
 stock of 1812, and the stock created by funding Treasury notes, amounting 
 together to $18,895,456 23, will be redeemable. To the redemption of 
 the whole of this stock within that year, the sinking fund, by the aid of its 
 surpluses, will not only be entirely adequate, but will be amply sufficient to 
 redeem the remainder of the public debt, at the several periods at which the 
 different stocks of which it is composed become redeemable. The whole 
 debt, including the 5 per cent, stock, will be extinguished during the year 
 1830 ; except the 3 per cent, stock, which is not redeemable at the will of 
 the Government.
 
 92 REPORTS OF THE [1817. 
 
 It is not presumed that taxes will be imposed and collected, for the 
 express purpose of purchasing the funded debt above its nominal value. It 
 is, however, believed to be unsafe to reduce the revenue below the perma- 
 nent annual expenditure, as now authorized by law, including the appropria- 
 tion constituting the sinking fund. A reduction below that amount would 
 postpone the redemption of the public debt beyond the periods when the 
 several loans of which it^s composed become redeemable, or impose upon 
 the Legislature the duty of resorting to them anew for that object. 
 
 If, then, the revenue shall, until the year 1825, be equal to the present 
 annual expenditure, it is respectfully suggested whether the public interest 
 will not be promoted by authorizing the commissioners of the sinking 
 fund to purchase the funded debt, at such rates above par, as in their judg- 
 ment will be for the interest of the nation, rather than to suffer the annual 
 surplus of the sinking fund to remain in the Treasury unapplied for five 
 successive years. Should such an authority be given to the commissioners 
 of the sinking fund, it is probable that the different species of stock would 
 advance in price above their present current value; but as the authority 
 would be permissive, not imposing the obligation to purchase, it is probable 
 that the surplus of the sinking fund might be more beneficially employed 
 in purchasing the public debt, than by remaining idle in the Treasury until 
 the year 1825. If that surplus could be annually invested, early in each 
 year, at the present prices of the different species of stock, it would produce 
 a saving to the nation of not less than four millions of dollars, between the 
 1st days of January 1820 and 1825. The interest which will accrue on 
 the 5 per cent, stock, between the 1st days of January 1820 and 1825, when 
 it is estimated the whole redeemable debt will be discharged, will amount to 
 $3,500,000. If, therefore, it is intended to redeem that stock, the surplus in 
 the sinking fund may be legitimately applied to that object during the years 
 1820 and 1821. 
 
 By statement No. 8, it appears that; the Treasury notes 
 which have issued under the several acts of Congress on 
 that subject have amounted to - $36,133,794 00 
 
 Of which there has been cancelled at the 
 Treasury . $26.574,431 
 
 There is now in the Treasury, which 
 will be cancelled when settled,exclusive of 
 $422,519 77, the estimated interest upon 
 them, the amount of 8 3 623,400 
 
 Making together the sum of - :: ^. 35,497,831 00 
 
 Leaving outstanding an estimated balance of 635,963 00 
 
 As the outstanding Treasury notes are convertible into funded debt, 
 which is considerably above par, it is presumed that such portion of them as 
 are not lost or destroyed will be funded, instead of being paid into the Trea- 
 sury in discharge of duties and taxes. It is therefore probable that an addi- 
 tion to the public debt will be made during the year 1818, nearly equal to 
 the Treasury notes estimated to be outstanding. 
 
 Statement E presents the state of the land offices in the State of Missis-
 
 1817.] SECRETARY OF THE TREASURY. 93 
 
 sippi and in the Alabama Territory; from which it appears that the receipts 
 into the Treasury have amounted to 1,124,100 81, of which $431,120 
 were in Mississippi stock. 
 
 From the proceeds of the sales of these lands, there has been paid to the 
 State of Georgia the sum of $688,441 33, and there has been transferred 
 to the State by the commissioners of the United States, under the act com- 
 promising the Yazoo claims, that part of the original purchase money re- 
 maining in the State Treasury, amounting to $184,515 94; making together 
 the sum of $872,957 27, and leaving still due to the State the sum of 
 $377,42 73. which is now ready to be paid under the provisions of the act 
 of the 3d of March last. 
 
 By statement No. 7, it appears that the Mississippi stock, awarded by the 
 commissioners, amounts to - $4,278,434 00 
 
 From which deduct the amount received into the Trea- 
 sury 431,120 00 
 
 Leaves outstanding the sum of $3,847,314 00 
 
 Which it is estimated will be received into the Treasury during the two 
 succeeding years, in payment of the public lands in the State of Mississippi 
 and in the Alabama Territory, or will be discharged by payments from the 
 Treasury out of the proceeds of the sales of those lands. 
 
 OF THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURES FOR 
 
 THE YEAR 1818. 
 
 The importation of foreign merchandise during the years 1815 and 1816 
 so greatly exceeded what was presumed to be equal to the annual average 
 consumption, that a general impression was produced that the importations 
 during the present year would fall greatly below that demand. Under this 
 impression, the revenue accruing from that source, for the year 1817, was, in 
 the annual report of the Treasury, of the 16th of December, 1816, estimated 
 at 12.900.000 of dollars. But it is ascertained that the gross revenue aris- 
 ing from that source, during the first three quarters of the year, have ex- 
 ceeded 17,000,000 of dollars, and it is estimated that that of the whole year 
 will exceed $22,000,000. 
 
 It is presumed that the importations from the East Indies, during the pre- 
 sent year, greatly exceed those which will take place during several conse- 
 cutive years; and that the reaction produced by the excessive importations 
 of 1815 and 1816 has, in some degree, been diminished by that circumstance. 
 There is, however, just ground to believe that the revenue derived from this 
 source will not, for any given series of years, fall below that of the present 
 year. Considering that this revenue, during the year 1807, (the last year 
 that our commerce was not greatly embarrassed by belligerant aggression,) 
 exceeded 16.000,000 of dollars ; that the duties then imposed are consid- 
 erably augmented by the present tariff; and that our population has increased 
 more than 30 per cent., carrying with it, in the same degree, an increase of 
 the means of procuring foreign articles, with an nndiminished relish for 
 their consumption ; it is presumed that the revenue from that source, during 
 the present year, will be found to be less than that of any number of succes- 
 sive vears.
 
 94 
 
 REPORTS OF THE 
 
 [1817. 
 
 According to these views, the permanent annual revenue may be estimated 
 
 to amount to ..... $24,525,000 00 
 
 Viz. 
 
 Customs - - '- $20,000,000 
 
 Internal duties - - 2,500.000 
 Public lands, exclusive, of the Mississippi 
 
 ' and Alabama lands - - - 1 ; 500,000 
 
 Bank dividends, at 7 per cent. - 490,000 
 
 Postage, and incidental receipts - 35,000 
 
 And the payments into the Treasury, during the year 
 1818, may be estimated at the same amount. 
 
 To which add the balance estimated to be in the Trea- 
 sury on the 1st day of January, 1818 - 
 
 6,000,000 00 
 
 Making together the sum of - $30,525,000 00 
 
 The probable authorized demands upon the Treasury, 
 during the year 1818, are estimated to amount to - 21.946.351 74 
 
 Viz. 
 Civil, miscellaneous, diplomatic, and for- 
 
 eign intercourse - - $2,069,843 29 
 
 Military service, including an arrearage 
 
 of $500,000 - - 6,265,13225 
 
 Naval service, including $1,000,000 for the 
 
 gradual increase of the navy - - 3,611,376 20 
 
 Public debt - - - 10,000,000 00 
 
 Which being deducted from the amount estimated to be received into the 
 Treasury, including the balance on the 1st of January, 1818, leaves, on the 
 1st of January, 1819, a balance in the Treasury of $8,578,648 26J; which 
 however, will be applied to the redemption of the Louisiana stock, under 
 the provisions of the act for the redemption of the public debt, passed the 3d 
 day of March, 181 7, as far as those provisions will admit. 
 All which is respectfully submitted. 
 
 WILLIAM H. CRAWFORD. 
 TREASURY DEPARTMENT, December 5, 1817.
 
 SECRETARY OF THE TREASURY. 
 
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 96 REPORTS OF THE [1817. 
 
 B. 
 
 STATEMENT of the accruing internal duties, during the year 1816, 
 with the computed expenses of collection. 
 
 Amount of accruing duties $4,633,799 00 
 
 Computed expenses of collection 237,665 75 
 
 Nett revenue .... - - - $4.396,13325 
 
 C. 
 STATEMENT respecting the direct tax, imposed March 5, 1816. 
 
 Amount of the tax imposed on the respective States $3,000.000 00 
 
 Add amount of direct tax imposed on the District of Co- 
 lumbia - - 9,999 20 
 
 3,009,999 20 
 Computed expenses of collection, with the deductions 
 
 made to assuming States for the prompt payment of their 
 
 quotas, viz : 
 
 On $781,133 73 assumed by the States of New York, 
 South Carolina, Georgia, and Ohio, on which a deduc- 
 tion of fifteen per cent, was allowed - $117,110 05 
 
 On $2,228,865 47 collected, or to be col- 
 lected, by the collectors - - 107,545 95 
 
 ! 224,656 00 
 
 Nett revenue - - $2,785,343 20 
 
 REVENUE OFFICE, December 1, 1817. 
 
 SAMUEL H. SMITH, 
 Commissioner of the Revenue.
 
 1817.] 
 
 SECRETARY OF THE TREASURY. 
 
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 100 REPORTS OF THE [1817. 
 
 No. 1. 
 
 STATEMENT of the public debt of the United States, on the 1st of 
 
 October, 1816. 
 
 Six per cent, stock - $17,250,871 41 
 
 Three per cent, stock - 16,158,180 79 
 
 Deferred stock - 9,358,320 34 
 
 Louisiana stock , - 10,923,500 00 
 
 Six per cent, stock of 1796 - 80,000 00 
 
 Exchanged 6 per cent, stock of 1812 2,984,746 72 
 
 - $56,755,619 26 
 
 Six per cent, stock of 1812, 11,000,000 
 
 loan - 7,810,500 00 
 Six per cent, stock of 1813, 16,000,000 
 
 loan - 18,109,377 43 
 Six per cent, stock of 1813, 7,500,000 
 
 loan - 8,498,581 95 
 Six per cent, stock of 1814, 25 and 3 
 
 million loan - 15,954,619 85 
 Six per cent, stock of 1815, 18,452.800 
 
 loan - 12.288,149 64 
 Six per cent, stock Treasury notes, per 
 
 act of 25th February, 1815, funded , 60,727 41^ 
 Seven per cent, stock, small Treasury 
 
 notes, funded - 8,479,595 00 
 
 , 71,201,551 28 
 
 $127,957,170 54 
 Loan due Cumberland Bank, Maine , - 50,000 00 
 
 Nominal amount of public debt, 1st October, 1816 - $128,007,170 54 
 Deduct reimbursement of the old 6 per cent, and de- 
 ferred stocks, by estimate 19,261,35225 
 
 Unredeemed, amount, 1st October, 1816 - $108,745,818 29 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 19, 1816. 
 
 JOSEPH NOURSE, Register. 
 
 No. 2. 
 
 STATEMENT of the funded debt of the United States, and of tempo 
 rary loans, on the 1st January, 1817. 
 
 FUNDED DEBT/ 
 
 Old six per cent, stock - - $17,250,871 41 
 
 Deferred six per cent, stock 9.358,320 34 
 
 Three per cent, stock .. ^ 16',158,180 79 
 
 Louisiana stock - 10,923,500 00 
 
 Six per cent, stock of 1796 - 80,000 00 
 
 Exchanged six per cent, stock of 1812 2,984,746 72 
 
 $56,755,619 26
 
 1817.] SECRETARY OF THE TREASURY. 101 
 
 Six per cent., stock of 1812, 11 million 
 
 loan - - $7,810,500 00 
 
 Six per cent, stock of 1813, 16 million 
 loan - - 18,109,377 43 
 
 Six per cent, stock of 1813, 1\ million ' 
 
 loan - - 8,498,581 95 
 
 Six per cent, stock of 1814, 25 and 3 mil-- 
 lion loan - - 15,954,619 85 
 
 Six per cent, stock of 1815, $18,452,800 
 loan - - 12,288,149 64 
 
 Six per cent. Treasury note stock - 60,834 02 
 
 Seven per cent, stock - " - 8,856,960 00 
 
 Five per cent, stock - r ^' 7,000,000 00 
 
 _ ' $78,579,022 89 
 
 TEMPORARY LOANS. 
 
 Due Cumberland Bank, Maine - - $50,000 00 
 
 The Bank of the United States-- " 500,00000 
 
 556,000 00 
 
 Nominal amount of the debt and temporary loans, 1st of 
 
 January, 1817 - 135,884,642 15 
 
 Deduct amount reimbursed in the payment of 8 per cent. 
 per annum on the old 6 per cent, and deferred stocks - 20,076,836 67 
 
 Unredeemed amount of funded debt and temporary loans, 
 
 on the Ist'of January, 1817 - -?" - $115,807,805 48 
 
 - fc . , ._ ... 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1 817. 
 
 JOSEPH NOURSE, Register. 
 
 No. 3. 
 
 ESTIMATE of the funded debt of the United States, on the 1st of Oc- 
 tober, 1817. 
 
 Old six per cent, stock, nominal amount $16,311,935 76 
 Deferred stock, nominal amount - - 8,892,815 82 
 
 25,204,751 58 
 
 Deduct amount reimbursed in the payment 
 of 8 per cent, per annum - 19,870,745 49 
 
 5,334,006 09 
 
 Three per cent, stock - - - 13,465,088 29 
 
 Louisiana stock - - 10,291,700 00 
 
 Six per cent, stock of 1796 80,000 00 
 
 Exchanged six per cent, stock of 1812 - . 2.669,108 99 
 
 $31,839,903 37 
 
 Six per ct. stock of 1 812, $11,000,000 loan 6,206,502 12 
 Six per ct. stock of 1813, 16,000,000 loan 15,746,676 87 
 Six per ct. stock of 1813, 7,500,000 loan 6,836,232 39
 
 102 REPORTS OF THE 
 
 Six per cent, stock of 1814, 25 and 3 mil- 
 lion loan - $12,787,060 13 
 
 Six per ct. stock of 1815, $18,452,800 loan 9,506.625 .41 
 
 Six per cent. Treasury note stock, 25 mil- 
 lion loan - 1,033,961 03 
 
 Seven per cent, stock - 8,955,884 09 
 
 Five per cent, stock - 7.000,000 00 
 
 $68,071,942 04 
 
 Estimated amount unredeemed 1st of October,, 1817 - $99,911,845 41 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1817. 
 
 JOSEPH NOURSE, Register. 
 
 No. 4. 
 
 COMPARATIVE STATEMENT of the funded debt of the United 
 States, between the 1st of October, 1816, .and 1st of October, 1817. 
 
 1. Amount of the public debt, as stated on the 1st of October, 1816, and 
 referred to in statement C, accompanying the report of the Secretary of the 
 Treasury to the House of Representatives of the United States, dated De- 
 cember 16, 1816 ' - $108,745,818 29 
 
 To which add : 
 
 The five per cent, stock loan of - - .$7,000,000 00 
 
 Treasury note stock, issued in 4th quar- 
 ter of 1816 - $106 61 
 Seven per cent, stock, is- 
 sued in 4th qr. of 1816 377,305 OO 
 
 Temporary loan obtained from the Bank 
 of the United States - - ' 
 
 377,471 61 
 500,000 00 
 
 7,877,471 61 
 
 Deduct estimated amount of reimbursement of six per 
 cent, and deferred stocks in the 4th quarter of 1816 - 
 
 2. Unredeemed amount of funded debt and temporary 
 loans, 1st of January, 1817 
 
 Additions from 1st January, 1817, to 1st October, 1817 : 
 Seven per cent, stock - $98,930 00 
 
 Six per cent. Treasury note stock - 998,385 43 
 
 116,623,289 90 
 
 815,484 42 
 
 115,807,805 48 
 
 Deduct reimbursement of old six per cent, and deferred 
 stocks, from the 1st of January to the 30th of Septem- 
 ber, 1817 - $894,484 64 
 
 Deduct amount of these- 
 veral species of stock 
 purchased per state- 
 ment - $14,606,208 38 
 
 116,905,120 91
 
 1817.] SECRETARY OF THE TREASURY. 103 
 
 And difference between 
 nominal amount of three 
 per cent, stock, and at 65 
 percent.^'" - $942,58248 
 
 $15,548,790 86 
 
 Temporary loans paid off 
 to the Bank of the United 
 States - 500,000 GO 
 
 Cumberland Bank, Maine 50,000 00 
 
 550,000 00 
 
 $16.993,27550 
 
 3. Unredeemed amount, 1st October, 1817 - $99,911,845 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1817. 
 
 JOSEPH NOURSE, Register 
 
 
 No. 5. 
 
 A STA TEMENT of the stock purchased and redeemed between the 
 \st January, 1817, and the 3Qth September following. 
 
 Amount of stock redeemed, as per statement A, herewith : 
 the three per cent, at 65 - - $14,606,208 38 
 
 Amount of stock redeemed, including the three per cent 
 at nominal - $15,548,790 86 
 
 Estimated reimbursement of the old simper cent, and de- 
 ferred stocks, in the first three quarters of 1817 - 894,48400 
 
 Temporary loans paid off to the Cum- 
 berland Bank - $50,00000' 
 
 Temporary loans paid off to the Bank of 
 the United States --" *>i 500,00000 
 
 _ -- 550,000 00 
 
 Amount from 1st January. 1817, to 30th Sept. following, $16,993,274 86 
 
 Add to the end of the 4th quarter of 1817, 
 for reimbursement of old six per cent, and 
 deferred stocks, per estimate - $709,513 70 
 
 Purchases of stock since the 1st October, 
 as per statement herewith - - -' 333,235 16- 
 
 1,042,748 86 
 
 $18,036,023 72 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1817. 
 
 JOSEPH NOURSE, Register.
 
 104 REPORTS OF THE [1817. 
 
 No. 6. 
 
 A STATEMENT showing the additions made to the debt by the fund- 
 ing of Treasury notes, between the 1st January, 1817, and the 1st 
 October following. 
 
 Seven per cent, stock - $98,930 00 
 
 Treasury note stock - 998,385 43 
 
 $1,097,315 43 
 TREASURY DEPARTMENT, 
 
 Register's Office, 28(h November, 1817. 
 
 JOSEPH NOURSE, Register. 
 
 No. 7. 
 
 The Register begs leave to present the following statement in relation to 
 the Mississippi stock certificates, subject to a correction on a comparison 
 with the commissioners of the Yazoo claims. 
 
 Amount of awards to the Upper Mississippi Company - $350,000 00 
 Tennessee Company ,- 531,428 05 
 
 Georgia Mississippi Company - 1,409,054 96 
 Georgia Company 1,887,029 75 
 
 Persons claiming under citizens' 
 
 rights 100,922 15 
 
 $4,278,434 91 
 Amount of certificates issued from the Treasury - - 4,249,114 02 
 
 Remain to be issued, subject to correction - (a) $29,320 89 
 
 (a) Excepting a claim of the State of Georgia for about $100,000, as 
 stated by the Secretary of the late Board of Commissioners. 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, 1st December, 1817. 
 
 JOSEPH NOURSE, Register. 
 Hon. W. H. CRAWFORD, Secretary of the Treasury. 
 
 'No. 8. 
 
 A STA TEMENT of the several denominations of Treasury notes is- 
 sued, showing the amount outstanding on the 30^/i September, 1817. 
 
 Treasury notes were issued under the act of Congress of 
 30th June, 1812, to the amount of -- - - $5,000,00000 
 
 25th February, 1813 - ...^ - 5,000,00000 
 
 4th March, 1814 - .-iv ^-.10,000,00000 
 
 26th December, 1814 - - - - 8,318,400 00 
 
 24th February, 1815, of $100 notes - $4,422,400 
 Small Treasury notes 3,392.994 
 
 : 7,815,394 00 
 
 Total amount issued - $36,133,794 00
 
 1817.] 
 
 SECRETARY OF THE TREASURY. 
 
 Of the above, there have been cancelled 
 
 at the Treasury 
 Small Treasury notes in the several banks, 
 
 viz: 
 
 New Hampshire ' - $179 00 
 
 South Boston 3,472 00 
 
 Manhattan - 3,554 00 
 
 Pennsylvania 390 00 
 
 Columbia - - 639,994 00 
 
 Branch Bank, Wash'n 2,675,811 00 
 
 - $26,574,431 00 
 
 In the Auditor's Office, in a course of 
 cancel ment, for six per cent, stock, at 
 Treasury of U. States - $14.192 34 
 
 New Hampshire loan office 
 
 Rhode Island 
 
 New York 
 
 North Carolina - 
 
 South Carolina - 
 
 Georgia - 
 
 Balances in the several 
 
 banks, viz: 
 State Bank, 
 
 Boston -$10,78655 
 City Bank, 
 
 N. Y. - 571,608 70 
 C. County- 712 10 
 Tennessee- 3,608 16 
 
 701,312 53 
 
 Dead Treasury notes in the 
 
 several banks : 
 Br.Bank, 
 
 Wash'n $4,643,745 49 
 Columbia 90,746 24 
 
 586.715 51 
 
 6,022,519 77 
 From which deduct the es- 
 timated amount of inter- 
 est included in the ai>ove 
 sum - - 422,519 77 
 
 Balance outstanding, viz : 
 
 Small Treasury notes - 69,594 00 
 Other notes, by estimate 566,369 00 
 
 As above 
 
 3,323,400 00 
 
 5,600,000 00 
 
 635,963 00 
 
 $36,133,794 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, Nov. 27, 1817. JOSEPH NOURSE, Register.
 
 106 
 
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 SECRETARY OF THE TREASURY. 
 
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 108 
 
 REPORTS OF THE, .,.;. 
 STATEMENT A Continued. 
 
 [1817. 
 
 A STATEMENT of moneys advanced for the redemption of the public 
 debt, by purchasers, from 1st April to 1st October, 1817. 
 
 Moneys advanced to agents and to the Bank of the United States: 
 To Jonathan Smith, cashier Bank U. S., as per warrants Nos. 65, 66, 163, 164 
 Richard Smith, cashier Branch Bk, Washington, do. 427, 428 - 
 J. B. Dandridge do. Richmond, do. 387, 388 - 
 Samuel Frothingham, do. Boston, do. 194, 232, 233 
 LyndeCatlin, do. New York, do. 195,280,234,235 
 J. W. McCulloch, do. Baltimore, do. 177, 674, 284 
 H. R. Pynchon, do. New Haven Bank, do. 541, 542 - 
 N. Waterman, do. Roger Williams Bank, -do. 223, 224 - 
 J ohn Rice, do. Union Bank, N. Hamp. do. 225 
 
 $232,540 23 
 72,048 46 
 57,109 77 
 138,113 92 
 231,374 02 
 820,927 10 
 911 63 
 ' 4,063 50 
 208 60 
 
 To the President, Directors, & Co. of the Bank U. S. do. 92, 196, 259 
 
 1,557,297 23 
 13,043,776 13 
 
 14,601,073 36 
 
 Application of the foregoing in the redemption of the public debt : 
 
 In the purchase of old 6 per cent, stock 
 Deferred 6 per cent. 
 Three per cent.- 
 Exchanged 
 Louisiana 
 
 Six per cent, of 1812 - 
 
 Do. 1813 - 
 
 Do. 1813 - 
 
 Do. 1814 - 
 
 Do. 1814 - 
 
 Do. 1814 - 
 
 Do. 1815 - 
 
 Seven per cent. 
 Six per cent. Treasury note stock 
 
 Commission to agents, included in the above advances, viz : 
 To Jonathan Smith - 
 Richard Smith . - 
 J. B. Dandridge - 
 S. Frothingham - 
 Lynde Catlin . - 
 J. W. McCulloch 
 H. R. Pynchon 
 N. Waterman 
 John Rice, 
 
 Gain on the purchases 
 
 Amount of stock redeemed, including the 3 per cent.. at 65 per cent. 
 Cost, including commission to agents - - , - 
 
 Amount of stock redeemed, including the 3 per cent, at nominal 
 Cost, as above - - - - - - . 
 
 Nominal Unredeemed 
 amount. amount. 
 
 $938,935 65f $87,069 62 
 465,504 52 216,794 73 
 2,693,092 50 at 65 ct. 1,750,510 02 
 - 315,637 73 
 - 631,800 00 
 
 Cost including 
 interest. 
 
 $87,129 62 
 216,959 96 
 1,750,462 52 
 314,587 73 
 632,301 57 
 
 Old debt, 
 11,000,000 loan, amt. 
 16,000,000 do. 
 7,500,000 do. 
 10,000,000 do. 
 6,000,000 do. 
 3,000,000 do. 
 
 )te stock, - 
 
 3,001,812 10 
 1,603,997 88 
 2,362>700 56 
 1,662,349 56 
 1,408,294 02 
 1,550,758 16 
 208,507 54 
 2,782,524 23 
 5 91 
 25,258 42 
 
 3,001,441 40 
 1,601,688 80 
 2,362,652 62 
 1,662,217 78 
 1,408,281 25 
 1,547,258 16 
 208,507 54 
 2,779,868 17 
 6 25 
 25,258 42 
 
 14,606,208 38 14,597,180 39 
 
 $579 89 
 
 179 67 
 
 142 41 
 
 344 42 
 
 576 99 
 
 2,050 94 
 
 2 27 
 
 10 13 
 
 6 25 
 
 
 14,601,073 36 
 
 - 14,606,208 38 
 
 - 14,601,073 36 
 
 5^135 02 
 
 - 15,548,790 86 
 
 - 14,601,073 36 
 
 947,717 50 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 25, 1817. 
 
 JOSEPH NOURSE, Register.
 
 1817.] SECRETARY OF THE TREASURY. 109 
 
 B. 
 
 STATEMENT of the stock purchased on account of the commissioners 
 of the sinking fund, subsequently to the 1st of October, 1817. 
 
 Seven per cent, stock purchased of the Bank of the Cost. 
 
 n nited States, amount - $332,984 60 at g!06 51, - $354.661 89 
 
 Old six per cent, stock, 
 nominal amount $400 95, 
 unredeemed amount - 31 04 at par 31 04 
 
 Deferred stock, nominal 
 amount $158 98, unredeem- 
 ed amount - - 72 66 at par 72 66 
 
 Three per cent, stock, 
 nominal amount $225 94, 
 at 65 - - - 146 86 - - 146 86 
 
 $333,235 16 $354,912 45 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, 28th November, 1817. 
 
 JOSEPH NOURSE, Register.
 
 110 REPORTS OF THE [1818. 
 
 -'- 
 
 REPORT ON THE FINANCES. 
 
 NOVEMBER, 1818. 
 
 In obedience to the directions of the " Act supplementary to the act to 
 establish the Treasury Department," the Secretary of the Treasury respect- 
 fully submits the following report and estimates : 
 
 REVENUE. 
 
 The nett revenue arising from duties upon imports and tonnage, internal 
 duties, direct tax, public lands, postage, and incidental receipts, during the 
 year 1816, amounted to - , - ' -$36,743,57407 
 
 Viz. 
 
 Customs - $27,569,769 71 
 
 Internal duties - 4,396,133 25 
 
 Direct tax - - 2,785,343 20 
 
 Public lands, exclusive of Mississippi 
 
 stock - 1,754,487 38 
 
 Postage, and incidentallreceipts 237,840 53 
 
 And that which accrued from the same sources during 
 the year 1817 amounted to 24,387,993 08 
 
 Viz. 
 
 Customs, (see statement A) - $17.547,540 89 
 
 Internal duties and direct tax, (see 
 
 statement B) - 4,512,287 81 
 
 Public lands, exclusive of Mississippi 
 
 stock, (see statement C) - 2,015,977 00 
 
 Postage, and incidental receipts 312,187 38 
 
 It is ascertained that the gross amount of duties on merchandise and ton- 
 nage, which have accrued during the first three quarters of the present 
 year, exceeds $21,000,000 ; and that the sales of the public lands, during 
 the same period, greatly exceed, both in quantity and value, those of the 
 corresponding quarters of the last year. 
 
 The payments into the Treasury, during the first three quarters of the 
 year, are estimated to amount to - - -$17,167.86226 
 
 Viz. 
 
 Customs $13,401,409 65 
 
 Internal revenue, and direct tax - 993,574 36 
 Public lands, exclusive of Mississippi 
 
 stock - 1,875,731 20 
 
 Interest upon bank dividends" - 525,000 00 
 
 Postage, and incidental receipts - 49,438 19 
 Repayments into the Treasury - 322,708 86
 
 1818.] 
 
 SECRETARY OF THE TREASURY. 
 
 Ill 
 
 And the payments into the Treasury during the fourth 
 quarter of the year, from the same sources, are estimated at $5,000,000 00 
 
 Making the total amount estimated to be received into 
 the Treasury during the year 1818 
 
 Which added to the balance in the Treasury on the 1st 
 day of January last, exclusive of $8 ; S09,S72 10 in Trear 
 sury notes, amounting to 
 
 Makes the aggregate amount of 
 
 The application of this sum for the year 1818 is esti- 
 mated as follows, viz: 
 
 To the 30th of September, the payments (exclusive 
 
 of $9.148,237 40 of Treasury notes, which have been 
 
 drawn from the Treasury and cancelled,) have amounted 
 
 to - - $16,760,337 05 
 
 Viz. 
 
 Civil, diplomatic, and 
 miscellaneous expenses $3,289,806 28 
 
 Military service, includ- 
 ing arrearage - 5,620,263 08 
 
 Naval service, including 
 the permanent appropria- 
 tion for the gradual increase 
 of the navy - 2.383.000 00 
 
 Public debt, exclusive ", :> 
 
 of $9, 148.237 40 of Trea- 
 sury notes, which have 
 been drawn out of the 
 Treasury and cancelled - 5,467,267 69 
 
 9,475,000 00 
 
 During the fourth quarter, it is estima- 
 ted that the payments will amount to - 
 Viz. *> 
 
 Civil, diplomatic, and 
 miscellaneous expenses - $520,000 00 
 
 Military service - 1,175,000 00 
 
 Naval service - - 575,000 00 
 
 Public debt, to 1st Jan- 
 uary, 1819 - 7,205,000 00 
 
 Making the aggregate amount of 
 
 And leaving, on the 1st day of January, 1819, a balance 
 in the Treasury estimated at - 
 
 22,167,862 26 
 
 6,179,883 38 
 
 28,347,745 64 
 
 - 26,235,337 05 
 2,112,408 59 
 
 OP THE PUBLIC DEBT. 
 
 The public debt which was contracted before the year 1812, and which 
 was unredeemed on the 1st day of October, 1817, as appears by statement 
 No. 1, amounted to . $31,835,788 29 
 
 By the same statement, it appears that the funded debt, 
 contracted subsequent to the 1st day of January, 1812, 
 amounted to ------ 68,071,933 14 
 
 Making, together, the aggregate amount of 
 
 - $99,907.721 43
 
 112 
 
 KEPORTS OF THE 
 
 [1818. 
 
 Which sum agrees with the statement of the unredeem- 
 ed amount on the 1st day of October, 181 7, as per last 
 report, excepting the sum of $4,123 98 overestimated, 
 and which has now been corrected by actual settlement. , 
 
 On the 1st day of January, there was added to the above 
 
 amount, for Treasury notes brought into the Treasury and 
 
 cancelled, and for which the following stock was issued, 
 
 viz: In six per cent, stock - $234,422 10 
 
 In seven per cent, stock - 99,019 00 
 
 $333,441 10 
 
 From which deduct seven per cent, stock purchased in 
 the fourth quarter of 1817 - $332,984 60 
 
 And also the reimbursement of old six per 
 cent, and deferred stock, between 1st Octo- 
 ber, 1817, and 1st January, 1818 - - 800,830 98 
 
 $100,241,162 53 
 
 Making the public debt which was unredeemed on the 
 1st of January, 1818, as per statement No. 2, amount to - 
 
 From the 1st of January to 30th September, 1818, in- 
 clusive, there was, by funding Treasury notes and three 
 per cent, stock, (20.08) issued, added to the public debt, 
 as appears by statement No. 3, the amount of - 
 
 From which deduct the amount of stock 
 purchased and redeemed during that period, 
 per statement No. 4 - $415,993 87 
 
 And also the estimated 
 amount of the final reim- 
 bursement of the old six per 
 cent, stock - $709,312 03 
 
 And the estimated reim- 
 bursement of the deferred 
 
 1,133,815 58 
 
 99.107,346 95 
 
 73,795 49 
 99,181,142 44 
 
 six per cent, stock 
 
 230,401 76 
 
 939,713 79 
 
 1,355,707 66 
 
 F Making on that day, as appears by statement No. 3, the 
 
 aggregate amount of - . $97,825,434 78 
 
 Since the 30th September, there has been 
 redeemed, or provision made for the re- 
 demption, of a moiety of the Louisiana 
 stock, unpaid on the 1st October, 1818 - $4,977,950 00 
 
 And there will be reimbursed of the prin- 
 cipal of the deferred six per cent, stock, on 
 the 1st day of January, 1819, by estimate 252,091 63 
 
 5,230,041 63 
 
 There will remain unredeemed, by estimate, on the 1st 
 day of January, 1819, the sum of - . . $92,595,39315 
 
 - ^=^ T==
 
 1818.] SECRETARY OF THE TREASURY. 113 
 
 By statement No. 5, the Treasury notes which are yet in circulation are 
 estimated at $297,506. 
 
 By statement No. 6, it appears thatthe whole of the awards 
 made by the commissioners appointed under the several 
 acts for indemnifying certain claimants of public lands, 
 amount to - $4,282,151 12 
 
 Of which sum there has been received at the office of the 
 Commissioner of the General Land Office, as appears by 
 statement C, the sum of - - 1,026.684 00 
 
 Leavingoutstanding, atthedateof the several returns from 
 the land districts, the sum of - $3,255,467 12 
 
 It is proper, however, to observe, that extensive sales have been made 
 in the Alabama Territory, in the months of September, October, and Novem- 
 ber, of which no returns have yet been received. 
 
 OF THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURE FOR 
 
 THE YEAR 1819. 
 
 In the annual report of the state of the Treasury, of the 5th of December, 
 1817, the permanent revenue was estimated at $24,525,000 per annum, and 
 the annual expenditure, according to the then existing laws, was stated at 
 $21,946,351 74. By the acts of the last session of Congress, the internal 
 duties, estimated at $2,500.000 per annum, were repealed ; whilst the ex- 
 penditure was augmented to nearly $25,000,000, and that of the ensuing 
 year is estimated at not less than $24,515,219 76. 
 
 The apparent deficit produced by these acts, and by the application of 
 more than $2,500.000 to the payment of the interest and redemption of the 
 principal of the public debt, beyond the annual appropriation of $10,000,000 
 for that object, has been supplied by the receipts into the Treasury, on ac- 
 count of the arrearage of the direct tax and internal duties, and by the bal- 
 ance of more than $6,000,000 which was in the Treasury on the 1st day of 
 January, 1818. 
 
 These temporary sources of supply being nearly exhausted, the expendi- 
 ture of the year 1819 must principally depend upon the receipts into the 
 Treasury from the permanent revenue during that year. As was anticipated 
 in the last annual report, the reaction produced by the excessive importa- 
 tions of foreign merchandise, during the years 1815 and 1816, acquired its 
 greatest force in the year 1817. 
 
 It is presumed that the revenue which cha 1 ! accrue during the present 
 year, from imports and tonnage, may be considered as the average amount 
 which will be annually received from that source of the revenue. 
 
 It is ascertained that the bonds taken for securing duties 
 which were outstanding on the 30th day of September last, 
 exceeded $23,000,000, and the receipts into the Treasury 
 from that source of revenue, during the year 1819, are es- 
 timated at - - $21,000,000 00 
 
 Public lands - ... 1,500,000 00 
 
 Direct tax, and internal duties 750.000 00 
 
 Bank dividends, at 6 per cent. - 420,000 00 
 
 VOL, ii. 8 
 

 
 114 REPORTS OF THE 
 
 First payment of bonus due by the Bank of the United 
 
 States 
 
 Postage, and incidental receipts 
 
 - $24,220,000 00 
 urns' 1 together to 
 
 _. adSedto the balance in the Treasury on the 1st 
 
 day of January, 1819, estimated at ' _J 
 
 Makes the aggregate amount of - $26,332,408 59 
 
 The probable authorizeddemands on the Treasury during 
 the year 1819, are estimated to amount to 
 
 Viz. 
 Civil, diplomatic, and miscellaneous ex- 
 
 irt} 1 O A- V/ C5OO O A- 
 
 penses - 
 
 Military department, including the 
 dian department, permanent Indian an- 
 nuities, 'military and revolutionary pen- Rr - 9 . p ^ 
 sions, and arming the militia - b,bbb,^o4 c 
 
 NavyDepartment.including$l,000,OC oono>IQ< . 6Q 
 
 for the" gradual increase of the navy 
 
 Public buildings, and for discharging the 
 demands of the contractors for making - 
 the Cumberland road ,-/. 326,644 
 
 Public debt - 10,000,00000 
 
 For building custom-houses and public 
 warehouses at New Orleans, and other 
 ports 100,000 00 
 
 Which being deducted from the amount estimated to be 
 received into the Treasury, including the balance on the 1st 
 day of January, 1819, leaves a balance in the Treasury on 
 the 1st day of January. 1820, of - 
 
 In presenting this estimate of receipts for the year 1819, it is necessary to 
 premise, that the sum to be received from the customs is less than what, from 
 theamount of the outstanding bonds, would, under ordinary circumstances, be 
 received. The amount of the sales of public lands during the last year, and 
 the sum due at this time by the purchasers, would justify a much higher es- 
 timate of the receipts from that important branch of revenue, if the most seri- 
 ous difficulty in making; payments was not known to exist. The excessive 
 issues of the banks during the suspension of specie payments, and the grea 
 exportation of the precious metals to the East Indies, during the presen 
 year, have produced a pressure upon them, which has rendered it necessary 
 to contract their discounts, for the purpose of withdrawing from circulation! 
 a large proportion of their notes. This operation, so oppressive to their debt- 
 ors, but indispensably necessary to the existence of specie payments, must ( 
 be continued until gold and silver shall form a just proportion of the circu-i 
 lating currency. In passing through this ordeal, punctuality in the discharge! 
 of debts, both to individuals and to the Government, will be considerably im- 
 paired ; and well-founded apprehensions are entertained that, until it is 
 passed, payments in some of the land districts will be greatly diminished. 
 
 The extent to which the payments into the Treasury, during the yeai, 
 1819, will be affected by the general pressure upon the community, which
 
 1818.] 
 
 SECRETARY OF THE TREASURY. 
 
 115 
 
 has been described, and which is the inevitable consequence of the over- 
 trading of the banks, and the exportation of specie to the East Indies, aggra- 
 vated by the temporary failure of the ordinary supply of the precious metals 
 from the Spanish American mines, cannot, at this time, be correctly appre- 
 ciated. Should it exceed what has been contemplated in this report, <he 
 appropriations must be diminished, the revenue enlarged by new impositions, 
 or temporary loans authorized, to meet the deficiency. As the expenditure 
 of the year 1820 will be greatly reduced by the irredeemable quality of the 
 public debt, after the redemption of the remaining moiety of the Louisiana 
 stock, which may be effected on the 21st day of October, 1819, a resort to 
 temporary loans, or to the issue of Treasury notes, to the amount of the 
 deficiency, should any occur, is believed to be preferable to the imposition 
 of new taxes, which would not be required after that year. 
 All which is respectfully submitted. 
 
 WM. H. CRAWFORD. 
 TREASURY DEPARTMENT. 
 
 November 21, 1818.. 
 
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 116 
 
 REPORTS OF THE 
 
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 STATEMENT e 
 of debentures iss 
 expenses of collec 
 
 
 
 
 NOTE. The statemeni 
 the Secretary of the Tre: 
 
 TREASURY DEP- 
 
 D 
 
 Merchandise. 
 
 So 
 
 OS
 
 1818.] SECRETARY OF THE TREASURY. 
 
 B. 
 
 117 
 
 STATEMENT of moneys received into the Treasury, from internal 
 duties and other objects, during the year 1817. 
 
 From new internal duties - - . - 
 
 New direct tax - 
 Old internal revenue 
 Old direct tax 
 
 Miscellaneous receipts, viz: 
 
 Postage of letters 
 
 Fees on letters patent - 
 
 United States moiety of the.nett proceeds of prizes 
 captured 
 
 Nett proceeds of gunboats, &c., sold per act 27th Feb- 
 ruary, 1815 
 
 Cents and half cents coined at the mint of the United 
 States - - - - 
 
 Rent of the salt spring in the Steubenville district 
 
 Fines, penalties, and forfeitures - i~ -* 
 
 Surplus proceeds of property sold for the payment of 
 direct taxes of 1815 - 
 
 Shares in the Georgia Mississippi Company, adjudged 
 to the United States - 
 
 Proceeds of sale of a temporary custom-house ou Sul- 
 livan's Island - - 
 
 Interest on stock in the Bank of the United States 
 
 52,676,882 77 
 
 1,833,737 04 
 
 1,218 00 
 
 450 00 
 
 29,371 91 
 4,680 00 
 
 52,652 26 
 2,134 69 
 
 18,834 00 
 
 76 80 
 
 5 25 
 
 417 17 
 
 1,500 52 
 
 88 48 
 202,426 30 
 
 $4,512,287 81 
 
 312,187 38 
 
 4,824,475 19 
 
 TREASURY DEPARTMENT, 
 
 Register's' Office, November 21, 1818. 
 
 JOSEPH NOURSE, Register. 
 
 > <e.ic>iatt KilSGl 
 
 
 % 
 
 t "** 
 
 .>; ?rd."Wq^ " ' .-^: 
 
 ( - , * ':<? t fi '") 

 
 118 
 
 REPORTS OF THE 
 C. 
 
 [1818. 
 
 LANDS sold, and moneys and stock received in payment for them, in 
 
 1817 and 1818. 
 
 From Jan. 1 to Dec. 31, 1817. 
 
 Quantity. 
 
 Amount. 
 
 Cash and stock 
 received. 
 
 Of which 
 stock re- 
 ceived. 
 
 Where sold. 
 
 Acres. 
 
 Dolls. Cts. 
 
 Dolls. Cts. 
 
 Dolls. Cts. 
 
 In offices N. W. of the Ohio river 
 Do. in Mississippi - 
 Do. in Alabama 
 
 1,412,631 
 r xC 394,767 
 W( 202 ,465 
 
 3,097,253 00 
 825,403 00 
 811,764 00 
 
 1,749,146 00 
 , 344,590 00 
 235,279 00 
 
 133.753 00 
 
 179,285 00 
 
 2,009,863 
 
 4,734,420 00 
 
 2,329,015 60 
 
 313,038 00 
 
 From Jan. 1 to Sept. 30, 1818. 
 
 1,212,634 
 
 , v < 265, 828 
 w 430, 020 
 
 2,505,194 00 
 531,805 00 
 3,183,947 00 
 
 1,471,790 00 
 252,181 00 
 827,807 00 
 
 126,298 00 
 466,540 00 
 
 In offices N. W. of the Ohio river 
 Do. in Mississippi - 
 Do. in Alabama 
 
 1,907,882 
 
 6,220,946 00 
 
 2,551,778 00 
 
 592,838 00 
 
 Accounts of sales in August and September have not been received from St. Louis. 
 
 Accounts of sales in September, 1818, have not been received from Canton, Shawneetown, 
 and Edwardsville. 
 
 Accounts in July, August, and September, 1818, have not been received from Huntsville, in 
 Alabama. 
 
 GENERAL LAND OFFICE, 
 
 November 16, 1818. 
 
 JOSIAH MEIGS, Commissioner. 
 
 Total amount of stock received, as per annual statement, dated September 30, 
 
 1817 
 
 Deduct amount received in first three quarters of 1817, viz: 
 East of Pearl river - 
 West of do. 
 
 Huntsville - - - 
 
 Milledgeville - - - - 
 
 Stock received in 1817 - . 
 
 Do. 1818 (three quarters) - 
 
 Total stock received to September 30, 1818 
 
 $431 , 120 00 
 
 $83,725 00 
 
 61,834 00 
 
 750 00 
 
 164,003 00 
 
 310,312 00 
 
 120,808 00 
 313,038 00 
 592,838 00 
 
 - 1,026,68400 
 
 (a) By the act of the 3d of March, 1817, directing a sum of money to be paid to the State of 
 Georgia, equal to the amount of Mississippi stock received into the Treasury prior to the final 
 payment due that State, the amount so paid is to be retained by the Treasury out of the specie 
 receipts from the Mississippi and Alabama lands, before the holders of that stock have any 
 claim upon those receipts.
 
 1818.] 
 
 SECRETARY OF THE TREASURY. 
 No. 1. 
 
 119 
 
 8TA TEMENT of the funded debt of the United States, on the 1st 
 
 October, 1817. 
 
 Old six per cent, stock, (unredeemed amount) 
 Deferred stock, (unredeemed amount) 
 Three per cent, stock ^- ^ 
 Louisiana six per cent stock 
 Six per cent, stock of 1796 - - 
 
 Exchanged six per ceat. stock of 1812 
 
 Six per cent, stock of 1812, 1 1 ,000,000 ban - x. - 
 
 Six per cent, stock of 1813, 16,000,000 loan 
 
 Six per cent, stock of 1813, 7,500,000 loan 
 
 Six per cent, stock of 1814, 25 & 3,000,000 loan - 
 
 Six per cent, stock of 1815, 25 & 3,000,000 loan - 
 
 Six per cent. Treasury note stock 
 
 Seven per cent. Treasury note stock 
 
 Five per cent, stock, (subscription to Bank United States) - 
 
 $1,262,212 96 
 
 4,067,678 09 
 
 13,465,088 25 
 
 10,291,700 00 
 
 80,000 00 
 
 2,669,108 99 
 
 6,206,502 12 
 
 15,522,272 81 
 
 6,836,232 39 
 
 13,011,455 19 
 
 9,505,625 41 
 
 1,033,961 13 
 
 8,955,884 09 
 
 7,000,000 00 
 
 $31,835,788 29 
 
 68,071,933 14 
 899,907,721 43 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, 18th November, 1818. 
 
 JOSEPH NOURSE. Register. 
 
 til
 
 120 
 
 REPORTS OF THE 
 
 No. 2. 
 
 STA TEMENT of the funded debt of the United States^ on the 1st 
 
 January, 1818. 
 
 Old six per c ent. stock, (unredeemed amount) 
 Deferred six per cent, stock, (unredeemed amount) 
 Three per cent, stock 
 Louisiana six per cent, stock 
 Six per cent, stock of 1796 
 Exchanged six per cent, stock of 1812 
 
 Six per cent, stock of 1812, loan of 11,000,000 - 
 Six per cent, stock of 1813, loan of 16,000,000 - 
 Six per cent, stock of 1813, loan of 7,500,000 - 
 Six per cent, stock of 1814, loan of 25, & 3,000,000 
 Six per cent, stock of 1815 > 
 Six per cent. Treasury note stock 
 Seven per cent. Treasury note stock 
 Five per cent, stock, (subscription to Bank United States) 
 
 a, Unredeemed amount, 1st January, 1817$! 15,807,805 48 
 Add Treasury note stock, issued in 1817, viz: 
 Of 6 per cent, (amount a) 1,232,807 63 
 Of 7 per cent, (amount 6) 197,949 00 
 
 .. .. ,,, , l **\r\ 7fi ("\ 
 
 $711,385 70 
 3,817,674 37 
 13,465,088 25 
 10,291,700 00 
 80,000 00 
 2,669,108 99 
 
 $31,034,957 31 
 68,072,389 64 
 
 6,206,502 12 
 15,522,272 81 
 6,836,232 39 
 13,011,455 19 
 9,505,625 41 
 1,268,383 23 
 8,721,918 49 
 7,000,000 00 
 
 \ . 
 117,238,562 11 
 
 18,131,215 16 
 
 a 899,107, 346 95- 
 99,107,346 9& 
 
 
 Deduct stock purchased in 1817, amount as 
 per statement A, accompanying report 
 of hst year, including three per cent, 
 nominal - - $15,548,709 90 
 Seven per cent, stock, pur- 
 chased in the 4th quarter 
 of 1817,asperstatementB . 333,98460 
 
 .,,... IE; qqi 170.1 rn 
 
 Reimbursement of old six per cent, and 
 deferred stocks in 1817 - - -1,699,43066 
 Temporary loans paid off - - 550,00000 
 
 As above ... 
 
 -
 
 1818.] SECRETARY OF THE TREASURY. 
 
 No. 2 Continued. 
 
 121 
 
 STATEMENT exhibiting the total amount of the six and seven per 
 cent. Treasury note stock issued to the 3ls December, 1817. 
 
 At what office issued. 
 
 Six per cent. 
 
 Seven per cent. 
 
 Treasury - - - - .*a 
 
 $31,314 77 
 
 #201 ,057 00 
 
 New Hampshire - 
 
 61,534 98 
 
 121,150 00 
 
 Massachusetts - ". 3 . - r i^r* .. 
 
 427,718 00 
 
 3,037,697 00 
 
 Rhode Island - - '.-."-.}' ?':>!. *.. 
 
 7,924 00 
 
 162,405 00 
 
 Connecticut - - - " ""-tsd* ' *> 
 
 _ 
 
 79,499 00 
 
 New York 
 
 336,777 31 
 
 4,723,559 00 
 
 Pennsylvania - - LV:-,*;' * 
 
 _ 
 
 699,847 00 
 
 Delaware - " - - ?,- 
 
 940 00 
 
 
 Maryland - -iV : v"j> f '. - - i ,**; _ 
 
 30,231 97 
 
 14,761 00 
 
 Virginia - '.- ( !* j _ - - ? 
 
 
 1,866 00 
 
 North Carolina - - - - 
 
 8,756 92 
 
 1,180 00 
 
 South Carolina - 
 
 281,026 27 
 
 8,008 00 
 
 Georgia '.'VA| 
 
 107,517 43 
 
 3,880 00 
 
 ' r.j -.-;=.; .I.' .;.'. 
 
 1,293,641 65 
 
 9,054,909 00 
 
 Deduct so much thereof, included in the statement of the 
 
 
 
 funded debt to 1st January, 1817 - *ji 
 
 60,834 02 
 
 8,856,960 00 
 
 
 a 1,232,807 63 
 
 b 197,949 00 
 
 TREASURY DEPARTMENT,- 
 
 Register's Office, November 18, 1818. 
 
 JOSEPH NOURSE, Register. 
 
 
 
 , ,
 
 122 
 
 REPORTS OF THE 
 No. 3. 
 
 [1818. 
 
 STATEMENT of the funded debt of the United States on the 1st of 
 
 October, 1818. 
 
 Deferred six per cent, stock, (unredeemed amount) - 
 Three per cent, stock - 
 Louisiana stock 
 Six per cent, stock of 1796 
 Exchanged six per cent, stock of 1812 
 
 Six per cent, stock of 1812, loan of eleven millions - 
 Six per cent, stock of 1813, loan of sixteen millions - 
 Six per cent, stock of 1813, loan of seven and a half millions 
 Six per cent, stock of 1814, loan of twenty-five & three mil'ns 
 Six per cent, stock of 1815 
 Treasury note stock of six per cent, funded - 
 Treasury note stock of seven per cent, funded 
 Five per cent, stock - 
 
 Amount, 30th September, 1818 
 
 Amount, as stated, 1st January, 1818 - 
 Add stock issued in 1818, to the date of last returns 
 Treasury note six per cent. - $68,72941 
 Treasury note seven per cent. - 5,046 00 
 Three per cent, for interest on old regis- 
 tered debt - - 20 08 
 
 83,519,810 27 
 13,454,575 68 
 9,955,900 00 
 80,000 00 
 2,669,108 99 
 
 $29,679,394 94 
 
 * 
 
 68,146,039 84 
 
 6,206,502 12 
 15.522,272 81 
 6',836,232 39 
 13,011,437 63 
 9,505,625 41 
 1,337,004 99 
 8,726,964 49 
 7,000,000 00 
 
 99,107,346 95 
 73,795 49 
 
 97,825,434 78 
 
 99,181,142 44 
 
 i 
 
 1,355,707 66 
 
 Deduct stock purchased 
 Old six per cent., (unredeemed amount) - 2,07367 
 Deferred, (unredeemed amount) - - 67,462 34 
 Three per cent. '- - 10,53265 
 Louisiana - - 335,800 00 
 Treasury note six per cent. - 107 65 
 Six per cent, of 1814 17 56 
 
 415,993 87 
 939,713 79 
 
 Stock reimbursed 
 Old six per cent. - - 709,31203 
 Deferred six per cent. - - 230,40176 
 
 As above, to 30th September, 1818 - 
 Stock reimbursable in the 4th quarter, 1818 
 On the 31st December, deferred six per cent. 
 On the 22d October, Louisiana - 
 
 Estimated amount unredeemed, 1st January, 1819 
 
 252,091 63 
 4,977,950 00 
 
 97,825,434 78 
 5,230,041 63 
 
 - 
 
 92,595,393 15
 
 1818.] 
 
 SECRETARY OF THE TREASURY. 
 
 No. 3 Continued. 
 
 123 
 
 COMPARATIVE STATEMENT of the funded debt of the United 
 States, between the 1st of October, 1817, and the 1st of October, 1818. 
 
 Amount of the funded debt as stated on the 1st October, 1817, 
 and referred to in estimate No. 3 accompanying the report 
 of the Secretary of the Treasury to the House of Repre- 
 sentatives, dated the 5th December, 1817 
 
 Deduct this sum, ascertained by Treasury settlements to have 
 been paid for reimbursement of the old six per cent, and de- 
 ferred stocks to 1st October, 1817, more than the amount 
 estimated - ^ : - -~ - $4,115 08 
 
 And this sum, short stated in account of stock 
 purchased - ,".'-". 8 90 
 
 Amount of the funded debt on the 1st October, 1817, as per 
 statement herewith '-*.* - - - 
 
 To which add Treasury note stock issued in the fourth quar- 
 ter of 1817, 6 per cent. 
 7 per cent. 
 
 " - , * i* ' ..', 
 
 Deduct seven per cent, stock purchased in the fourth quarter 
 
 1817 - - - - -.- 
 
 And old six per cent, and deferred stocks reimbursed 
 
 Amount of the funded debt on the 1st January, 1818, as per 
 
 statement herewith - 
 
 To which add stock issued in the first three quarters of 1818: 
 Treasury note 6 per cent. - - - 
 
 7 per cent. - - 
 
 3 per cent. -. 
 
 Deduct stock purchased during the same period 
 Reimbursement of old six per cent, and deferred stocks esti- 
 mated at - - - ' T"- 
 
 Amount of the debt on the 1st October, 1818, estimated at 
 
 899,911,845 41 
 
 4,123 98 
 
 234,422 lO 
 99,019 00 
 
 332,984 60 
 800,830 98 
 
 68,729 41 
 
 5,046 00 
 
 20 08 
 
 415,993 87 
 939,713 79 
 
 $99,907,721 43 
 333,441 10 
 
 100,241,162 53 
 1,133,815 58 
 
 99,107,346 93 
 
 73,795 49 
 
 99,181,142 44 
 
 1,355,707 66 
 
 97,825,434 78 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 18, 1818. 
 
 JOSEPH NOURSE, Register. 

 
 124 
 
 REPORTS OF THE 
 
 [1818. 
 
 GO 
 
 I 
 
 SJ 
 
 00 
 
 
 g 
 59. 
 
 i 
 
 G 
 
 JS 
 
 W 
 
 jsaiajm Sai 
 -pnpor'jsoDiBjoj, 
 
 
 1 
 
 Amount of stock purchased, as above stated, brought down - $412,056 85 
 To which add the difference between the nominal amounts 
 of 3 per cent, stock, on the sums herein stated, marked a, and 
 the cost at 65 - - 3,686 46 
 And the unredeemed amount, as per statement B, of last year - 250 56 
 
 415,993 87 
 
 TREASURY DEPARTMENT, 
 Register's Office, Nov. 19, 1818. 
 JOSEPH NOT7RSF,. Rpa-ister 
 
 1> co i> o (M o in 
 in CM t- 
 
 59 re jpojs 
 JU3D jad g 3ui 
 -pnput 'pasBqo 
 ind jpojs IBJO j, 
 
 i-^HOOtMO 'i^o 
 
 00 
 
 to 
 in 
 
 c" 
 
 i co i~- 'n o to oo 
 m o t- 
 
 Saisi] 
 
 -J9ApB JO S9SU9 J 
 -X9 pUB SJU9B 
 
 oj suoissiuitaoo 
 
 5*1 in (M in CT co 
 
 OCOO C5CO CT "^ 
 
 c oo to 1-1 i ** in i 
 
 i-l i-T}l 
 
 3 
 
 P 
 
 W1SMOTI 
 
 3co^^ '2 ' ' 
 
 - n 
 
 CO 
 
 'H81 jo 
 
 JpOIS -JU9D jad 9 
 
 to 
 1 1^ 1 1 1 1 1 
 
 to 
 m 
 
 jpojs -juao Jad 
 9 ajou iansBaj j, 
 
 1 1^ 1 1 1 1 1 
 
 o 
 
 o 
 
 NOMINAL AND UNREDEEMED AMOUNT OF OLD DEBT. 
 ^ 
 
 *3^00JS *!JtI90 
 
 jad 9 BUeisinoq 
 
 o o o o 
 
 O 1 O O I 1 i O 
 
 r-( CO CT> in 
 
 S i-l C* CO 
 
 8 
 
 o 
 in" 
 
 i 
 
 59 VB pasuipjnd 
 
 J[001S 1U9D J9d g 
 
 oo in G} oo r^ 
 
 00 ""H to 
 
 in" 
 
 CO 
 
 en 
 
 en' 
 to 
 
 to" 
 <s 
 
 jpojs 
 
 '1U3D J3d g JO 
 
 lunoraB iButrao^f 
 
 go o to r- 
 
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 <N CN to 
 
 i-T oo" 
 
 to 
 o 
 
 CO 
 
 cT 
 
 Amount of stock purchased, as abovestated, brought down - $412,056 85 
 To which add the items included in statement B of last an- 
 nual report of the Secretary of the Treasury, of purchases sub- 
 sequent to 1st October, 1817, viz: 
 7 per cent, stock purchased of the Bank of the 
 United States - - $332,98460 
 Old 6 per cent, stock - - - 31 04 
 Deferred stock - 72 66 
 3 per cent, stock, nominal amount, a$ 225 94 at 65 a 146 86 
 333,235 16 
 
 745,292 01 
 
 JJDOJS -yaao 
 
 in i i o co t IT- in 
 ci o o* ro o co i 
 
 r^ c* oo i- o o n? 
 
 o 01 * in r~ oo o i 
 co in i> to <?j -^ co 
 
 oo 
 to 
 
 CO 
 
 to 
 
 'JIOOJS "JUaO 
 
 jad 9 pajjajap 
 
 i o oo * t^* 01 GO 
 
 rj< in m TJ< 05 1 1 1 i 
 
 o o <>} in t~- ^ o i 
 
 Ol < Tj< 4> tO Tjl l> 
 
 (? O 
 
 i- 
 
 o 
 
 1 
 s 
 
 jpojs 
 'juao jad 9 pjo jo 
 J.UIE pauiaapaju^i 
 
 cj 22 n fc ^ ^ ^ 
 
 to ^ to oo o^ t~^ d 
 
 <M ^ *" ^"^ < (N 
 
 s 
 
 o 
 
 'JJOOIS 
 
 1U90 jad 9 pio jo 
 lunoraB |Butiuo^ 
 
 "* o o o in in o 
 cv co fM r- m to i i 
 
 co <?} t^ 1-1 co co in 
 
 eo 
 
 00 
 
 s 
 
 01 co r~i to i i ^a< co 
 so 
 
 1 
 bo 
 9 
 
 IM 
 
 O 
 
 ' I 
 
 1 ' "3 1 I J a i 
 
 ^ to " 
 
 l^^sllfl 2
 
 1818.] SECRETARY OF THE TREASURY. 
 
 No. 5, 
 
 125 
 
 STATEMENT of the several denominations of Treasury notes issued, 
 showing the amount outstanding, by estimate, on the 30th September, 
 1818, viz: 
 
 *<* vr 
 
 Treasury notes were issued under several acts of Congress : 
 Of the 30th June, 1812 
 
 Of the 25th February, 1813 - *'.-'- 
 
 Of the 4th March, 1814 
 Of the 26th December, 1814 
 Of the 24th February, 1 815, of $1 00 notes - 
 
 Small Treasury notes 
 
 *$4,969,400 
 3,392,994 
 
 Total amount issued 
 
 Of the above amount there have been cancelled at the Treasury 
 
 Drawn into the Treasury by warrants, and in a course of settlement for 
 the purpose of being cancelled, viz : 
 
 In small Treasury noies - $3,345,923 
 
 In notes including interest - - 85,817,890 61 
 
 Deduct the estimated amount of interest - 377,890,61 
 
 : 5,440,000 
 
 Small Treasury notes in the several banks, viz : 
 
 New Hampshire - - - 9 
 
 Branch Bank at Washington - - - 1,116 
 
 1,125 
 
 In the Auditor's office, in a course of cancelment for six per cent, stock, issu- 
 
 1 
 
 ed at the Treasury 
 New Hampshire 
 Massachusetts 
 Rhode Island 
 New York . - 
 Maryland 
 Maryland 
 Virginia 
 South Carolina 
 Georgia 
 
 In the Branch Bank, Washington 
 
 - $14,196 02 
 
 - 1,914 97 
 
 - 81,848 40 
 
 - 2,446 08 
 
 - 19,326 31 
 
 - 42,881 26 
 
 460 00 
 140 00 
 
 - 13,619 64 
 & - 103,955 60 
 >-o'i !';/' 
 
 280,788 28 
 . 21 95 
 
 From which deduct the estimated amount of interest included in 
 the above sum - ... **>" 
 
 280,810 23 
 - 50,810 23 
 
 Balance outstanding, by estimate, viz: 
 In small Treasury notes 
 Other notes ....... 
 
 ^ '" - 45,946 00 
 - 251,560 00 
 
 As above 
 
 $5,000,000 00 
 5,000,000 00 
 
 10,000,000 00 
 8,318,400 00 
 
 8,362,394 00 
 
 36,680,794 00 
 27,336,240 00 
 
 8,787,048 00 
 
 260,000 00 
 297,506 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 18, 1818. 
 
 JOSEPH NOURSE, Register. 
 
 i r * r * v 
 * Ascertained amount from Treasury settlement.
 
 l26 
 
 REPORTS OF THE 
 
 [1818. 
 
 No. 6. 
 
 STATEMENT of the claims awarded by the commissioners appointed 
 by virtue of the act of Congress, entitled " An act supplementary to the 
 act entitled an act for the indemnification of certain claimants of 
 public lands in the Mississippi Territory" passed the 3d of March, 
 1815. 
 
 Awards in favor of 
 
 Individuals claiming under the Upper Miss. Company 
 
 Tennessee Company 
 Georgia Miss. Company - 
 Georgia Company 
 
 Citizens' rights - 
 
 Names of Claimants. 
 
 Ebenezer Jackson, as trustee of 
 
 Matthias Maher 
 
 James Strawbridge - 
 
 Robert Stewart 
 
 William Coleman - 
 
 Do. by D. Boardman 
 
 Jonathan Ogden 
 
 Thomas Young 
 
 Levi Hollingsworth - 
 
 Simon Jackson 
 
 C. G. Champlin & C. Charnplin 
 
 Tunno & Coffin 
 
 Jeremiah Mason 
 
 David Rawn 
 
 William Payne 
 
 George Blake 
 
 Jonathan Hastings - 
 
 Robert Means 
 
 James Gardner 
 
 John Jackson 
 
 Samuel Dexter 
 
 Ebenezer Jackson, in his own right 
 William Lovett & James G. Forbes 
 Charles Wayland 
 James Sterling 
 John Whipple - 
 
 Thomas Cumming, for the heirs of William Poe 
 Benjamin Joy, for the heirs of Jonathan Arnold 
 James Thwaite 
 
 Arthur Harper : E. Jackson, attorney - 
 Charles Matthews : William W. Bibb, attorney 
 
 Amount. 
 
 $350,000 00 
 531,428 05 
 1,412,134 96 
 1,887,040 95 
 * 101,547 16 
 
 282,151 12 
 
 Amount of each 
 award. 
 
 $187,142 67 
 45,714 25 
 37,142 82 
 4.285 71 
 1,428 57 
 2,857 14 
 47,142 81 
 2,857 14 
 4,285 71 
 28,571 40 
 9,999 99 
 1.428 57 
 2,857 14 
 9,999 99 
 2,857 14 
 1,428 57 
 4,285 71 
 1,428 57 
 1,428 57 
 25,714 26 
 14,285 70 
 2,857 14 
 5,714 28 
 ,/ 1,428 57 
 1,428 57 
 7,142 85 
 12,857 13 
 1,428 57 
 8,571 42 
 1,428 57 
 
 * Including $625 issued to the representatives of George Pearson ; per act of April, 1818.
 
 1818.] SECRETARY OF THE TREASURY. 
 
 STATEMENT Continued. 
 
 127 
 
 Awards in favor of 
 
 Amount of each 
 award. 
 
 Robert Flourney 
 Arthur Fort 
 
 Charles C. Brodhead & Charles L. Platt 
 Benjamin Joy and Samuel Dexter, agents for and in be- 
 half of the directors of the New England Mississippi 
 Land Company 
 
 Adam Tunno and James Miller: Benjamin Joy, agent - 
 Valentine Jones: Robert E. Griffith, attorney - 
 Hugh Rose : Benjamin Joy, attorney 
 Sophia Harris: John G. Chappie, attorney 
 James Lloyd * - 
 Rufus G. Amory 
 
 Joseph and Henry Sewall, executors of Samuel Sewall 
 John Coles - , - 
 
 Rums G. Amory 
 Joseph Sewall - 
 Joseph Wilson - 
 William Sullivan 
 John Tucker - 
 Charles dishing 
 Charles Cushing's heirs 
 William Stackpole 
 
 The President and Directors of the Union Bank of Boston 
 John C. Jones - 
 
 Sarah Russel, executrix of Joseph Russel's estate 
 Rufus G. Amory, administrator of Patrick Jeffery 
 Andrew Craigie ... 
 
 Do. 
 
 Joseph Otis 
 The heirs of Margaret Newman M- f| 
 
 Do. do. - 
 
 Henry Newman 
 Walter Sims - 
 
 Do. - 
 
 Alexander McComb 
 
 Hezekiah B. Pierpont, executor of William Constable 
 Gulian Ludlow - 
 
 Charles McEvers '--* '"'.-' 
 
 George Barn wall 
 Samuel Ward ... WQiiT loJn: 
 
 Do. 
 
 Stephen Ailing - 
 Samuel Huntingdon 
 John Adam - - ? 
 
 Elias Shipman - ? '.-= " *' 
 
 Daniel Coit 
 
 $2,857 14 
 2,857 14 
 1,428 57 
 
 1,007,633 89 
 
 312.200 00 
 
 17,500 00 
 
 17,500 00 
 
 2,800 00 
 
 9,150 47 
 
 21,345 77 
 
 13,771 45 
 
 4,820 00 
 
 4,820 00 
 
 6,885 73 
 
 6,885 73 
 
 3,442 86 
 
 13,771 45 
 
 6,885 73 
 
 3,442 86 
 
 13,992 20 
 
 82.354 21 
 
 27,451 40 
 
 13,725 70 
 
 13,725 70 
 
 54,902 81 
 
 22.876, 17 
 
 2,287 62 
 
 8,578 56 
 
 16,013 32 
 
 3,115 47 
 
 37,745 68 
 
 57,190 43 
 
 13,992 13 
 
 13,992 13 
 
 4,140 57 
 
 2.516 36 
 
 537 59 
 
 19,055 77 
 
 13,771 39 
 
 2,859 51 
 
 5,719 02 
 
 1,143 80 
 
 1,715 70 
 
 2,859 51
 
 128 
 
 REPORTS OF THE 
 STATEMENT Continued. 
 
 [1818. 
 
 Awards in favor of 
 
 Amount of each 
 award. 
 
 George Brinkerhoof, David J. Green, and David Stout, 
 
 jr., assignees of Joseph Rowland 
 John Coffin Jones, James Lloyd, and Thomas Dickason, 
 
 trustees of the Boston location 
 John T. Apthorp 
 James Perkins - 
 William Payne 
 Gardner Green 
 
 James and Thomas H. Perkins - 
 John Derby 
 William Sullivan 
 William Payne - 
 
 William Scoll ay's heirs - .- .. 
 
 Benjamin Joy - 
 James Sullivan's heirs - 
 William Sullivan 
 James and Thomas H. Perkins - 
 S. and W. H. Vernon - 
 Thomas and S. Douglass 
 The heirs of Jonathan and W. Arnold - 
 Hugh Rose 
 Thomas Tunno 
 Samuel Dexter - 
 
 Do. 
 Mary Gil man - - fo 
 
 Do. - 
 
 Ruggles Whiting 
 Artemas Ward - 
 Henry Sands 
 Robert Morris, jr., and John Mowall, jr., assignees of 
 
 C. Sands 
 Thomas Mullet - 
 John Jackson - 
 
 Robert Sands - ... 
 
 Daniel Boardman - , ,* 
 
 Jacob Sebor - - - . . 
 
 Eli Williams - . *f 
 
 Daniel Boardman - - 
 
 Do. assignee of Henry Hunt 
 
 Richard L. Hunt, executor of Thomas Hunt - 
 Peter Griffin - 
 
 William Pauldin^ - - . . 
 
 William Holroyd and Benjamin Hoppin 
 Robert and Hamilton Stewart - 
 John Michael - - T :" - 
 
 James Thweatt - - , *>- 7 
 
 $2,859 51 
 
 157,959 95 
 
 14,640 75 
 
 7.320 37 
 
 7,320 00 
 
 7,320 37 
 
 11,438 08 
 
 25,163 78 
 
 9,150 47 
 
 2,287 61 
 
 18,300 94 
 
 54,902 81 
 
 9,150 47 
 
 2,287 61 
 
 13,992 21 
 
 1,734 01 
 
 1,868 22 
 
 21,412 OS 
 
 67,228 07 
 
 17,586 28 
 
 13,771 45 
 
 22,876 17 
 
 18,300 94 
 
 44,837 29 
 
 13,725 70 
 
 6,885 73 
 
 8,443 56 
 
 16,887 10 
 
 28,595 11 
 
 10,169 90 
 
 5,085 00 
 
 5,085 00 
 
 10,169 90 
 
 48,611 86 
 
 44,162 64 
 
 5,569 56 
 
 44,644 48 
 
 11,803 06 
 
 3,176 25 
 
 2,833 56 
 
 1,875 00 
 
 1,837 00 
 
 4,343 93f
 
 ISIS.} SECRETARY OF THE TREASURY. 
 
 STATEMENT Continued. 
 
 129 
 
 Awards in favor of 
 
 Amount of each 
 award. 
 
 Thomas Tunno 
 
 $1,379 31i 
 
 Agnes Smith and Hugh Smith - 
 
 625 00 
 
 William Wallace '*"* 
 
 9,999 99 
 
 Frederick Farmer 
 
 8,571 42 
 
 Susan Hamell - 
 
 1,428 56 
 
 Bedford Brown 
 
 2,857 14 
 
 Daniel W. Cox 
 
 1,428 57 
 
 Thomas Young, for himself and Alexander Kettell 
 
 52,758 84 
 
 James Lyle ^^ 
 
 12,810 00 
 
 ~rr i A * T 
 
 V alentme Jones -^ 
 
 67,228 07 
 
 William Wikoff ] "!^ 
 
 2,058 84 
 
 Elizabeth Sergeant ! , c n p p tt ; 
 
 2,058 84 
 
 Philip P. P. Middleton ^ ^ 
 
 4,117 68 
 
 Robert Imley J " Vf 
 
 2,058 84 
 
 Samuel F. Conover 
 
 2,058 84 
 
 James Johnston 
 
 1,428 57 
 
 Ezekiel Williams, jr. 
 
 357 14 
 
 Thomas Mitchell 
 
 1,428 57 
 
 Jacob Douning 
 
 4,621 25 
 
 John Loamy and D. W. Coxe, assignees of Nalbro Frazier 
 
 2.027 50 
 
 Elizabeth Clayton " J 
 
 '625 00 
 
 John Whipple - 
 
 3,641 87| 
 
 William Wallace - - , 
 
 3,339 81" 
 
 Nathaniel Pendleton 
 
 5,719 02 
 
 Joseph Darling 
 
 714 87 
 
 William and Sarah Leffingwell 
 
 357 43 
 
 John Russ - - - .-. 
 
 2,859 51 
 
 Abraham Bishop - t *+* 
 
 5,719 02 
 
 Elizabeth Wooster 
 
 2,144 62 
 
 Russle Goodrich, executor of Catharine Miller - 
 
 12,545 00 
 
 Joseph Beavan, adm'r of Jno.C. Nightingale, in Georgia - 
 
 6,272 50 
 
 John Whipple, adm'r of Jno. C. Nightingale in Con. 
 
 6,272 50 
 
 John Morgan ... 
 
 2,859 51 
 
 Russle Goodrich, executor of Catharine Miller - 
 
 31,839 84 
 
 Joseph Be van, adm'r of Jno. C. Nightingale, in Georgia - 
 
 15,919 92 
 
 John Whipple, adm'r of Jno. C. Nightingale, in Con. ' 
 
 15,919 92 
 
 Hamilton Stewart : D. Boardman, attorney 
 
 3,202 64 
 
 Comfort Sands, administrator of Lewis Sands - 
 
 5,719 00 
 
 Robert Flourney : B. Hall, attorney 
 
 6,405 28 
 
 Eleazer Early, in his own right 
 
 16,505 00 
 
 Do. trustee of J. B. Barnes - 
 
 1,000 00 
 
 Do. for administrators of Thomas Glascock - 
 
 11,500 00 
 
 Do. att'y of the representatives of A. Gordon - 
 Benjamin Sherrard 
 
 10,000 00 
 3,000 00 
 
 Judah Hays - ; -^ 
 
 6,885 72 
 
 Heirs of Moses M. Hays - - 
 
 3,442 86 
 
 ii. 9
 
 130 
 
 
 REPORTS OF THE 
 
 [1818. 
 
 L 
 
 STATEMENT Continued. 
 
 Awards in favor of 
 
 Amount of each 
 award. 
 
 John Mallowney 
 
 Ann Kittera 
 
 Eiisha Gordon - 
 
 Samuel Richards 
 
 Thomas Gumming, guardian of the heirs of William Poe 
 
 Rebecca Learning and others, heirs and devisees of 
 
 Thomas Learning 
 John Taylor 
 William Payne - 
 
 Silas Betton and Amos Kent, executors of John Prentis - 
 Ebenezer Jackson, trustee for and in behalf of the persons 
 
 named as cestn-i que trusts in the report of June 28, 
 
 1815, holding 296 shares in the Tennessee Company - 
 Ebenezer Jackson in his own behalf 
 Arthur Harper - - 
 
 William Lovett and James G. Forbes - 
 Charles Way] and 
 
 James Sterling - - 
 
 John Whipple - ... 
 
 Thomas Gumming, for heirs of William Poe 
 Benjamin Joy, for heirs of J.Arnold - r 
 
 James Thwaite - - ... 
 
 Charles Matthews 
 
 Frederick Farmer .... 
 
 Bedford Brown - .... 
 
 John Taylor - . . : j* 
 
 Daniel W. Coxe - . * ' . '-- 
 
 William Wallace - - ... 
 
 James Johnston .... 
 
 Ezekiel Williams, jr. - - '- ** 
 
 Thomas Mitchell . - : i f ';' "'" -'"; 
 Rebecca Learning and others, heirs and devisees of 
 
 Thomas Learning - .... 
 
 Robert Flourney - . . 
 
 Arthur Fort - . "v^ ' : i j ; 
 
 Charles C. Broadhead and Charles L. Plott 
 Walter Sims - - f " . . - V^ 
 
 James Smedley, administrator de bonis non of Oliver 
 
 Philips '-'^ . 
 
 Alexander C. Glass, and William Mclnlire, assignees of 
 Thomas and H. Ely - 
 
 Benjamin Joy and Samuel Dexter, agents of and in behalf 
 of the Directors of the New England Mississippi Land 
 Company - _ 
 
 William A. Tenneille ... ~_ 
 
 Janet McLaws and William Urquhart, executors of An- 
 drew Innis - 
 
 $5,380 00 
 
 4,448 12 
 
 2,058 84 
 
 2,058 84 
 
 660 \2\ 
 
 2,857 14 
 
 1,428 57 
 
 55,965 64 
 
 6,885 72 
 
 2,600 36 
 87 85 
 52 71 
 17 57 
 
 78,357 16 
 
 8,430 57 
 910 57 
 
 12,000 00 
 2,857 14 
 
 15,931 81
 
 1818.] 
 
 SECRETARY OF THE TREASURY. 
 STATEMENT Continued. 
 
 131 
 
 Awards in favor of 
 
 Amount of each 
 award. 
 
 'to -K. 
 
 Samuel Pitkin - 
 
 Charles Matthews, administrator of John Matthews 
 Stephen Lawrence, administrator of Samuel Lawrence - 
 Peter Early and Joel Early- 
 Thomas Gumming, guardian of William Poe's heirs 
 Charles L. Matthews "*-' fl 
 Samuel Bull 
 Joseph W. Alsop 
 Josiah Williams - >"' fj . .-; -. 
 
 T^U O 
 
 Ebenezer Sage - ?? -,- 
 
 Lemuel Storrs - 
 Arthur W. Magill 
 John J. Chappell 
 Jacob Sebor 
 Jacob Michael - 
 
 The heirs of William Williamson 
 Eleazer Early, in his own right 
 Do. trustee of J. Barnes 
 Do. administrator of Thomas Glascock 
 Do. att'y for the representatives of A. Gordon 
 Benjamin Sherwood - *'%* 
 
 Benjamin Joy and Samuel Dexter, for and in behalf of 
 
 the directors of the New England Mississippi Land 
 
 Company 
 Eleazer Early - 
 Walter Sims 
 
 Robert and Hamilton Stewart - 
 William Lovett and James G. Forbes - , f "..' 
 James J. Roosevelt - 
 
 James Berrill - - - 
 
 Isaac Marquanell 
 
 Samuel Whittemore ... 
 
 Hester Smith - 
 William Cairnes 
 Augur Tomlinson 
 Jonathan O. Walker 
 Benjamin Joy and Samuel Dexter, for and in behalf of 
 
 the directors of the New England Mississippi Land 
 
 Company - **[Tr 
 
 Eleazer Early - - - 
 
 Benjamin Joy - 
 
 Daniel Boardman - ' w 
 
 Arthur Harper - - f. .&,, 
 
 The heirs of William Colhoun - - . 
 
 Nathaniel Twining 
 Henry Seymour and Thomas Seymour, guardians of the 
 
 heirs of J. Chenward, jr. - 
 
 
 $1,071 43 
 
 13,552 00 
 
 4,312 00 
 
 18,516 96 
 
 1,848 00 
 
 6,160 00 
 
 12,320 00 
 
 924 00 
 
 616 00 
 
 1,848 00 
 
 1,232 00 
 
 6,160 00 
 
 3,080 00 
 
 4,928 00 
 
 6,160 00 
 
 55,440 00 
 
 3,829 16 
 
 232 00 
 
 2,668 00 
 
 2,320 00 
 
 696 00 
 
 35,170 43 
 
 2.857 U 
 
 3,338 06 
 
 18,480 00 
 
 14,784 00 
 
 4,928 00 
 
 4,928 00 
 
 3,696 00 
 
 3,696 00 
 
 3,080 00 
 
 616 00 
 
 616 00 
 
 616 00 
 
 22,757 41 
 
 17 57 
 
 57,190 00 
 
 985 60 
 11,271 86 
 5,561 06i 
 2 ; 827 81$ 
 
 2,859 51
 
 132 
 
 REPORTS OF THE 
 
 STATEMENT Continued. 
 
 [181 B 
 
 Awards in favor of 
 
 Amount of each 
 award. 
 
 Robert Randolph 
 
 SI, 428 57 
 
 The heirs and devisees of William Williamson - 
 
 6,160 00 
 
 John N. Gumming, Richard Stockton, and Azariah Hunt, 
 
 
 executors of John Rhea 
 
 2,058 84 
 
 James Goodwin, administrator of Jane Goodwin, and 
 
 
 guardian of E. H. and J. H. Goodwin 
 
 3,080 00 
 
 Thomas Gumming 
 
 1,428 57 
 
 James J. Bull 
 
 2,833 55 
 
 Garrett WikofT, Samuel Wikoff, and Joseph Holmes, ex- 
 
 
 ecutors of Joseph Holmes, deceased - 
 
 860 25 ' 
 
 William Whann 
 
 260 62-i 
 
 Peter Early, executor of Joel Early 
 
 14,925 25" 
 
 Edward Jarvis, administrator of Leonard Jarvis 
 
 18,300 80 
 
 James J. Bull - 
 
 25 96 
 
 Janet McLaws - 
 
 2,456 88 
 
 Samuel Pitkin - 
 
 428 92-i 
 
 Ezekiel Williams 
 
 428 92| 
 
 Jonathan Smith, guardian to the heirs of Jared Barnes - 
 
 1,745 12A 
 
 James Thweatt 
 
 3.490 25" 
 
 Thomas Gumming 
 
 l',745 12A 
 
 Robert Randolph 
 
 1,745 12i 
 
 Nicholas Long - 
 
 3,490 25" 
 
 Mary Gilman - 
 
 436 28 
 
 William Hunter - 
 
 6,980 50 
 
 James Johnston - 
 
 1,745 m 
 
 John Malloney - 
 
 218 14" 
 
 Ann Kittera 
 
 218 14 
 
 Henry C. Gaither, Henry C. Dorsey, Henry Gaither, of 
 
 
 Daniel, Frederick Gaither, guardian of Henry Gaither, 
 
 
 of Frederick, and Benjamin Gaither, guardian of Wil- 
 
 
 liam Henry Gaither, devisees of Colonel Gaither 
 
 1,745 12i 
 
 Jonathan Coit, executor of J. Bulgin 
 
 2,617 6S| 
 
 John Leamy and Daniel C. W. Coxe, assignees of Nalbro 
 
 
 Frazier 
 
 5,235 371 
 
 Hugh Nesbit - 
 
 1,745 121 
 
 Robert Flourney -> V - 
 
 j 
 
 6,980 50 
 
 Bartholomew Hownsfield 
 
 1,745 12 
 
 Samuel Dexter, trustee of Elizabeth More 
 
 747 90 
 
 Samuel Dexter - ... 
 
 2,742 34^ 
 
 Elisha Tracy - - 
 
 308 00 
 
 Benjamin D. Sirams ... 
 
 4,312 00 
 
 Michael Nourse ... 
 
 872 56 
 
 Edward Ro well - --, > - -< 
 
 1,745 12i 
 
 Nicholas Long, for his one-fourth of $12,211 50, decreed 
 
 
 to the grantees of the Georgia Mississippi Company - 
 
 3,052 SH 

 
 1818.J 
 
 SECRETARY OF THE TREASURY. 
 STATEMENT Continued. 
 
 133 
 
 Awards in favor of 
 
 Amount of each 
 award. 
 
 Thomas Gumming, for his one-fourth of $12.211 50, de- 
 creed to the grantees of Georgia Mississippi Company 
 
 The heirs arid representatives of Ambrose Gordon, his 
 one-fourth of $12,211 50, decreed to the grantees of 
 Georgia Mississippi Company 
 
 The heirs and representatives of Thomas Glascock, his 
 one-fourth of $12,21 1 50, decreed to the grantees of 
 Georgia Mississippi Company 
 
 Daniel Wadsworth. 
 
 Thomas Gumming 
 
 Robert Randolph 
 
 Cochran McClure 
 
 Richard Napier - 
 
 William A. Fenneille i- 
 
 Samuel Pitkin - . *r K* 
 
 Cochran McClure 
 
 Richard Napier 
 
 Daniel Wadsworth, surviving partner of Sandford and 
 Wadsworth - 
 
 Russell Goodrick, executor of Catharine Miller - 
 
 John Miller, administrator of Jno. C. Nightingale 
 
 Amasa Jackson 
 
 Jonathan Coit, executor of James Bulgin 
 
 Thomas Coit - 
 
 The representatives of Geo. Pearson : per act of Apr. 1818 
 
 $3,052 8H 
 
 3,052 
 
 3,052 87 
 
 1,281 23" 
 
 8 78 
 
 8 78 
 
 17 57 
 
 8 78i 
 
 17 57" 
 
 6 59^ 
 
 2,857 14" 
 
 1,428 57 
 
 1,578 28 
 211 681 
 211 68-i- 
 24,831 90" 
 2,617 68A 
 5.719 02 
 625 00 
 
 $4,282,151 
 
 Amount of certificates issued 
 
 Do. do. to be issued - 
 
 $4,273,113 79 
 9,037 33 
 
 $4,282,151 12 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 18, 1818. 
 
 JOSEPH NOURSE, Register.
 
 134 REPORTS OF THE [1818 
 
 -. , :... .4 A L 
 
 TREASURY DEPARTMENT, 
 
 December 19, 1818. 
 
 SIR : I have the honor to submit the enclosed statements of the sales of 
 public lands during the year 1817, and the first three quarters of the year 
 1818, which were intended to have accompanied the annual report of the 
 Treasury, but which were not then prepared. 
 I have the honor to be, 
 
 With great respect, Sir, 
 
 Your obedient servant, 
 
 WILLIAM H. CRAWFORD. 
 The Hon. the PRESIDENT OF THE SENATE.
 
 1818.] 
 
 SECRETARY OF THE TREASURY. 
 
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 SECRETARY OF THE TREASURY. 
 
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 818.] SECRETARY OF THE TREASURY. 143 
 
 - 
 
 No. 4. 
 
 TOTAL SALES of land in Mississippi and Alabama, viz: 
 
 From the opening of the offices, to the 1st 
 
 October, 1817, as per account laid before Acres. Dollars. 
 
 Congress in December, 1817 - 1,690.932.96 3,981,269 26 
 
 From 1st October, 1817, to 31st December, 
 
 1817 - 127,329.54 253,638 11 
 
 From 1st January, 1818, to 30th Septem- 
 ber, 1S18 - 695,848.54 3,715,752 94 
 
 Total from opening offices to Sept. 30, 1818, 2,514,111.04 7,950,660 31 
 
 TOTAL STOCK RECEIVED, VIZ : 
 
 Up to 1st October, 1817 - - - ""- $431,12092 
 
 From 1st October, 1817, to 31st December, J817 64,559 88 
 
 From 1st January, 1818, to 30th September, 1818 - 594.063 87 
 
 $1,089,744 67 
 
 GENERAL LAND OFFICE, December 16, 1818. 
 
 JOSIAH MEIGS, Commissioner. 
 
 NOTE. No return has been received from Huntsville for the third quarter of the present 
 year. 

 
 144 
 
 REPORTS OF THE 
 
 [1819. 
 
 REPORT ON THE FINANCES. 
 
 1 
 
 DECEMBER, 1819. 
 
 - 
 
 In obedience to the directions of the " Act supplementary to the act to 
 establish the Treasury Department," the Secretary of the Treasury respect- 
 fully submits the following report : 
 
 I. OF THE REVENUE. 
 
 The nett revenue arising from duties upon imports and tonnage, inter- 
 nal duties, direct tax, public lands, postage, and other incidentarreceipts. 
 
 during the year 1815, amounted to 
 
 'Viz. 
 
 Customs (see statement A) - >- $36,306,022 51 
 
 Internal duties - ' 5,963,225 88 
 
 Direct tax - -, 5,723,152 25 
 
 Public lands - - 1.287,959 28 
 
 Postage, and other incidental receipts - 275,282 84 
 
 That which accrued from the same sources, in the year 
 1816, amounted to 
 
 Viz. 
 
 Customs (see statement A) - - $27,484,100 36 
 
 Internal duties - 4,396,133 25 
 
 Direct tax - 2,785,343 20 
 
 Public lands - - 1,754,487 38 
 
 Postage, and other incidental receipts - 237,840 53 
 
 - $49,555,642 76 
 
 That which accrued from the same sources during 
 
 1817, amounted to 
 
 Viz. 
 
 Customs (see statement A) 
 Internal duties 
 Direct tax 
 
 - $17,524,775 15 
 
 - 2,676,882 77 
 1.833,737 04 
 
 Public lands (exclusive of Mississippi 
 
 stock) - 2.015,977 00 
 
 Postage, and other incidental receipts 313,855 38 
 
 And that which accrued from the same sources, during 
 
 the year 1818, amounted to 
 
 Viz. 
 Customs (see statement A) 
 
 - $21,828,451 48 
 
 Arrears of internal duties (see state- 
 ment B) - 947,946 33 
 
 Arrears of direct tax (see statement B) 263,926 01 
 
 Public lands, exclusive of Mississippi 
 
 stock (see statement C) 2,464,527 90 
 
 Postage, dividends on bank stock, and 
 other incidental receipts (see state- 
 ment B) - - - - 590,348 93 
 
 36,652,904 72 
 
 24.365,227 34 
 
 26.095,200 65
 
 1819.] 
 
 SECRETARY OF THE TREASURY. 
 
 145 
 
 It is ascertained that the gross amount of duties on merchandise and 
 tonnage, which have accrued during the first three quarters of the present 
 year, exceeds $18,000,000. 
 
 And the sales of the public lands, during the same period, have exceeded 
 $8,700,000. 
 
 The payments into the Treasury, during the first three 
 quarters of the year, are estimated to amount (exclusive 
 of $169,594 07 in Treasury notes,) to $19,550,607 17 
 Viz. 
 
 Customs - $15,604,081 58 
 
 Public lands, (exclu- 
 
 2,858,556 61 
 
 sive of Mississippi stock) 
 Arrears of internal du- 
 ties 
 
 Arrears of direct tax 
 First instalment pay- 
 able by United States 
 Bank - 
 
 Fourth dividend on the 
 United States shares in 
 the United States Bank 
 Incidental receipts 
 Repayments - 
 
 195,531 02 
 
 72,880 24 
 
 500.000 00 
 
 175,000 00 
 29,095 92 
 85,462 29 
 
 And the payments into the Treasury 
 during the fourth quarter of the year, 
 from the same sources, are estimated at 
 
 Making the total amount estimated to 
 be received. into the Treasury, during the 
 year 1819, (exclusive of $169,594 07 in 
 Treasury notes) 
 
 Which, added to the balance in the Trea- 
 sury on the 1st day of January last, 
 (exclusive of $32,155 51, in Treasury 
 notes) amounted to 
 
 Makes the aggregate amount of 
 
 5,000,000 00 
 
 - $18,192,387 43 
 
 The application of this sum for the year 1819, is es- 
 timated as follows, viz : 
 
 To the 30th September, the payments 
 (exclusive of $81,161 79 in Treasury 
 notes, which have been drawn from the 
 Treasury, and cancelled,) have amounted 
 to -.. 
 
 Yiz. 
 
 Civil, diplomatic, and 
 miscellaneous expenses, $2,544,612 98 
 
 Military service, (in- 
 cluding arrearage) - 7,665,961 72 
 
 Naval service, includ- 
 ing the permanent appro- 
 priation for the gradual 
 increase of the navy - 3,527,640 42 
 YOL. ii. 10 
 
 $24,381,013 10 
 
 1,446,371 23 
 
 - $25,827,384 33 
 
 it tjS
 
 
 146 
 
 Public debt, (exclusive 
 of $81,161 79 in Treasu- 
 ry notes, above mention- 
 ed) 
 
 During the fourth quar- 
 ter it is estimated that the 
 payments (exclusive of 
 $120,587 79 in Treasu- 
 ry notes, which will be 
 drawn from the Treasu- 
 ry and cancelled.) will 
 amount to 
 Yiz: 
 
 Civil, diplomatic, and 
 miscellaneous expenses 
 
 Military service 
 
 Naval service 
 
 Public debt, to the 1st 
 of January, 1820. (exclu- 
 sive of $120,587 79 in 
 Treasury notes, above 
 mentioned) 
 
 Making the aggregate 
 amount (exclusive of 
 $201,749 58 in Treasury 
 notes, drawn from the 
 Treasury and cancelled) 
 of 
 
 And leaving, on the 1st 
 of January, 1820, a bal- 
 ance in the Treasury, es- 
 timated at 
 
 [1819. 
 
 $4,454,172 31 
 
 $7,300,000 00 
 
 500,000 00 
 
 1,530,000 00 
 
 300.000 00 
 
 4,970,000 00 
 
 $25,492.387 43 
 
 $334,996 90 
 
 II. OF THE PUBLIC DEBT. 
 
 The funded debt, which was contracted before the year 1812, and which 
 was unredeemed on the 1st day of October, 1818, (as appears by statement 
 No. 1,) amounted to - - - $29,681,280^07 
 
 And that contracted subsequently to the 1st day of 
 January, 1812, and unredeemed on the 1st of October, 
 1818, as appears by the same statement, amounted to 68,146,039 84 
 
 Making the aggregate amount of 
 
 "Which sum agrees with the amount stated in the last 
 annual report as unredeemed on the 1st October, 1818 ; 
 excepting the sum of $1,885 13, which was then short 
 estimated, and which has since been corrected by actual 
 settlement. 
 
 On the 1st day of January, there was added to the 
 above amount, for Treasury notes brought into the 
 Treasury and cancelled, and for which the following 
 stock was issued : 
 
 $97,827,319 91 
 
 [67 
 
 ' ' ) 

 
 1810.] 
 
 SECRETARY OF THE TREASURY. 
 
 147 
 
 In 6 per cent, stock 
 In 7 per cent stock 
 
 $49,024 71 
 2,646 00 
 $51,670 71 
 
 Making 
 
 From which deduct Louisiana 6 per 
 cent, stock, reimbursed on the 2 1st of Oc- 
 tober, 1818 ;.*li.i - 4,977,950 00 
 
 And deferred stock, reimbursed be- 
 tween the 1st of October, 1818, and 1st of 
 January, 1819 - - 252,863 27 
 
 Making the public debt, which was un- 
 redeemed on the 1st January, 1819, (as 
 appears by statement No. 2,) amount to - 
 
 From the 1st of January to the 30th 
 September, inclusive, there was, by fund- 
 ing Treasury notes and issuing 3 per 
 cent, stock, for interest on old registered 
 debt, added to the public debt, (as ap- 
 pears by statement No. 3,) the amount of 
 
 , $97,878,990 62 
 
 From which deduct the amount of stock 
 purchased during that period, (as appears 
 by statement No. 4,) 
 
 And the estimated reimbursement of 
 deferred stock - L> J -'1 
 
 Making, on the 1st of October, 1819, (as 
 appears by statement No. 3,) the SUP of - 
 
 Since the 30th of September, tfore has 
 been redeemed, or provision mad for the 
 redemption, of 54 per cent, of tne Louisi- 
 ana stock unpaid on the 1st October, 1819, 
 
 711,957 55 
 
 243,827 88 
 
 amounting to 
 
 And there will be reimbursed of the 
 principal of the deferred six per cent, stock, 
 on the 1st of January, 1820 
 
 Leaving the public debt, unredeemed 
 on the 1st January, 1820, by estimate - 
 
 - 2,601,817 15 
 
 241,506 70 
 
 5,230,813 27 
 
 36.135 59 
 
 92,684,312 94 
 
 955,785 43 
 
 - 91,728,527 51 
 
 2,843,323 85 
 
 - $88,885,203 66 
 
 The Treasury notes in circulation are estimated, (as ap- 
 pears by statement No. 5,) at - - - $181,821 00 
 
 The whole of the awards made by the commissioners 
 appointed under the several acts of Congress, for indemni- 
 fying certain claimants of public lands, (as appears by 
 statement No. 6,) amount to - , - 4,282,151 12
 
 143 REPORTS OF THE [1819, 
 
 Of which there has been received at the office of the 
 Commissioner of thfi General Land Office, (as appears by 
 statement C } ) the sum of $2,372,574 31 
 
 Leaving outstanding, at the dates of the several returns 
 from the land districts $1,909,576^ SI 
 
 III. OF THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURE 
 FOR THE YEAR 1820. 
 
 In presenting the estimates for the year 1820, it may be proper to observe, 
 that when the internal duties were repealed on the 31st of December, 1817, 
 the permanent revenue, including those duties, was estimated at $24,525,000: 
 whilst the annual authorized expenditure was ascertained to be less than 
 $22,000,000. The repeal of the internal duties reduced the former to 
 $22,025,000; whilst the payments from the Treasury, during the year 
 1818, exceeded $26,000,000, and those of the present year will, probably, 
 fall but little short of $25,500,000. 
 
 In the annual report of the Treasury of the 21st of November, 1818, the 
 receipts for the present year \rere estimated at $24,220,000. Although this 
 estimate will be realized in its general result, deficiencies have been ascer- 
 tained in the customs, the internal duties and direct tax, the bank dividends, 
 and the postage of letters. The deficiency which has occurred in the cus- 
 toms, internal duties and direct taxes, will probably augment, in nearly the 
 same degree, the receipts from those sources in the year 1820, by the pay- 
 ment of the revenue bonds, and of that portion of the internal duties and di- 
 rect taxes, which, if the accustomed punctuality had been observed, would 
 have been received during the present year. But it is probable that the re- 
 ceipts of that year will be diminished by the non-payment of bank dividends, 
 and by the application of a portion of the proceeds of the public, lands to the 
 redemption of the outstanding Mksissippi stock. The receipts for the year 
 1820, applicable to the ordinary ani current demands upon the Treasury, 
 may therefore be estimated at - . . $22,000.000 00 
 
 Viz: 
 
 Customs $19,000,000 00 
 
 Public lands - 2,000,000 00 
 
 Arrears of internal duties and direct tax 450,000 00 
 Second instalment due by U. S. Bank - 500,00000 
 Incidental receipts ' - 50,000 00 
 
 Which, with the sum estimated to be in 
 the Treasury on the 1st of Jan. 1820 334,996 90 
 
 Make the aggregate amount of - $22.334,996 90 
 
 The estimates of the expenditure for the year 1820 are not yet complete: 
 but it is ascertained from those which have already been received, that a sum 
 not less than $27,000,000 will be required for the service of that year. 
 This deficit of nearly $5,000,000, resulting from the excess of expenditure 
 beyond the receipts, cannot be supplied by any application of the ordinary 
 revenue. Alter paying the interest and reimbursement of the public debt, 
 and redeeming the remainder of the Louisiana stock, about $2,500,000 
 ot the sinking fund will remain without application, if the price of the 
 public stock should continue above the prices at which the commissioners
 
 1819.] SECRETARY OF THE TREASURY. 149 
 
 of the sinking fund are authorized to purchase. During the years 1821, 
 1822, and 1823, the average sum of $5,000,000 of the sinking fund will 
 also remain without application, if the price of the public stock should 
 prevent its purchase. Any application of that portion of the sinking fund 
 which, on account of the price of the public stock, may remain unemployed 
 in the hands of the commissioners of the sinking fund, to other branches 
 of the public service, if allowable under the provisions of the act making 
 the appropriation, would only postpone the period at which additional impo- 
 sitions would be required to meet the public expenditure. Such an applica- 
 tion would also have the effect of ultimately retarding the redemption of the 
 public debt. 
 
 It may bs proper to add, that, although some of the items in the estimate 
 for the ensuing year may be considered in their nature temporary, yet it is 
 probable that the estimate for succeeding years will exceed, rather than 
 fall below it. 
 
 Under all the circumstances, it is respectfully submitted that the public 
 interest requires that the revenue be augmented, or that the expenditure be 
 diminished. 
 
 Should an increase of the revenue be deemed expedient, a portion of the 
 deficit may be supplied by an addition to the duties now imposed upon 
 various articles of foreign merchandise, and by a reasonable duty upon sales 
 at public auction ; but it is not probable that any modification of the existing 
 tariff can supersede the necessity of resorting to internal taxation, if the ex- 
 penditure is not diminished. Should Congress deem it expedient to modify 
 the present rate of duties, with a view to afford that protection to our cotton, 
 woollen, and iron manufactures, which is necessary to secure to them the 
 domestic market, the necessity of resorting to a system of internal taxation 
 will be augmented. It is believed that the present is a favorable moment 
 for affording efficient protection to that increasing and important interest, if 
 it can be done consistently with the general interest of the nation. The 
 situation of the countries from whence our foreign manufactures have been 
 principally drawn, authorizes the expectation that, in the event of a mono- 
 poly of the home market being secured to our cotton and woollen manufac- 
 tures, a considerable portion of the manufacturing ski 11 and capital of those 
 countries will be promptly transferred to the United States, and incorporated 
 into the domestic capital of the Union. Should this expectation be realized, 
 the disadvantages resulting from such a monopoly would quickly disappear. 
 In the mean time, it is believed that a system of internal taxation would be 
 severely felt by the great mass of our citizens. 
 
 Whether the revenue be augmented, or the expenditure be diminished, 
 a lean to some extent will be necessary. The augmentation of the one, or 
 the diminution of the other, cannot be effected in sufficient time to prevent 
 this necessity. As the six per cent, stock of the United States is consider- 
 ably above par, the sum required to be raised by loan can be conveniently 
 and advantageously obtained by the sale of stock of that description; or it 
 may be obtained by the issue of Treasury notes. If the revenue and expend- 
 iture shall be equalized, the issue of Treasury notes, not bearing interest, 
 is recommended in preference to the creation or sale of stock, as the loan, 
 in that event, will be small in amount and temporary in its nature. 
 All which is respectfully submitted. 
 
 WM. H. CRAWFORD. 
 TREASURY DEPARTMENT, December 10, 1819.
 
 150 
 
 REPORTS OF THE 
 
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 1819.1 
 
 SECRETARY OF THE TREASURY. 
 
 151 
 
 A'a. 
 
 A 8TA TEMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1818, 
 (consisting of the difference between articles paying duty, imported, 
 and those entitled to drawback, re-exported ;) and, also, of the nett re- 
 venue which accrued that year, from duties on merchandise, tonnage, 
 passports, and clearances. 
 
 MERCHANDISE PAYING DUTIES AD VALOREM. 
 
 2,387,693 dollars, at 7i per cent. - t ,--p. '.- 
 19.415.525 do. 15 do. -" ' - :, 
 9^24,531 do. 20 do. - ' , i - 
 24,804,183 do. 25 do. - -'.,'' - 
 2,634:637 do. 30 do. ... 
 
 $179,076 97 
 2,916,828 75 
 1,904,906 20 
 6,201,047 00 
 790,091 10 
 
 $11,947,26002 
 10,094,912 42 
 
 58,795,574 
 134,070 do. exp'd 33| do. 
 
 11,991,950 02 
 44,690 00 
 
 58,661,504 
 
 630,181 75 
 2,646,186 92 
 615,751 15 
 1,531,749 53 
 959,970 15 
 1,568,892 44 
 550,479 20 
 1,591,701 28 
 
 1. Wines - 1,663,482 gallons, at 37.9 cents average 
 2. Spirits - 6,052,453 do. at 43.7 cents do. 
 Molasses - 12,315,023 do. at 5 cents do. 
 3. Teas - 4,842363 pounds, at 31.6 cents do. 
 Coffee - 19,199,403 do. at 5 cents do. 
 4. Sugar - 51,284,983 do. at 3.6 cents do. 
 5. Salt - 2,752,396 bushels, at 20 cents do. 
 6. All other articles - -_*! 
 
 . "89 >h ree v 
 
 Deduct duties refunded, after deducting therefrom du- 
 ties on merchandise, the particulars of which could 
 not be ascertained, and difference in calculation 
 
 2i per cent, retained on drawback ... 
 10 per cent, extra duty on merchandise imported in for- 
 eign vessels - -. v-) .^ - , 
 Interest and storage *? < '^.i 
 
 Nett amount of duties on merchandise - > ' 
 Duties on tonnage 
 
 Light money - - t.^--- 
 
 Passports and clearances 
 
 Gross revenue - , ^^ / ~,v - ^ 
 Deduct expenses of collection ' - . t __- " 
 
 Nett revenue, per statement A - 
 
 90,010 21 
 
 201,993 96 
 24,643 85 
 
 22,042,172 44 
 58,855 64 
 
 21,983,316 80 
 316,648 02 
 
 2167669 24 
 44,209 57 
 
 22,299,964 82 
 
 260,878 81 
 14,030 00 
 
 - 
 
 22,574,873 63 
 746,422 15 
 
 21,828,451 48
 
 152 
 
 REPORTS OF THE 
 
 Explanatory Statements and Notes. 
 
 [1819. 
 
 1. Wines 
 Madeira - 
 Burgundy 
 Claret in bottles - 
 Sherry and St. Lucar - 
 Lisbon, Oporto, &c. 
 Teneriffe, Fayal, &c. 
 All other 
 
 2. Spirits- 
 Grain. 1st proof - 
 2d do. - 
 3d do. - 
 4th do. - 
 5th do. - 
 Other, 1st and 2d proof - 
 3d do. - 
 4th do. - 
 5th do. - 
 Above 5th do. - 
 
 :}. Teas 
 Bohea 
 Souchong 
 Hyson skin 
 Hyson and young hyson 
 Imperial - 
 
 Deduct, Imperial exported 
 
 161,718 gallons, at 
 7,940 do. 
 58,474 do. 
 11,675 do. 
 110,064 do. 
 194,348 do. 
 1,119,263 do. 
 
 100 cents - 
 100 
 70 
 60 
 50 
 40 
 25 
 
 42 cents - 
 45 
 48 
 52 
 60 
 38 
 42 
 48 
 57 
 70 
 
 12 cents - 
 25 - - 
 28 
 40 
 50 
 
 68 
 
 $161,718 00 
 7,940 00 
 40,931 80 
 7,005 00 
 55,032 00 
 77,739 20 
 279,815 75 
 
 1,663,482 do. 
 
 637,181 75 
 
 594,243 gallons, at 
 202,259 do. 
 1,884 do. 
 1,415 do. 
 79 do. 
 763,074 do. 
 2,397,302 do. 
 2,061,355 do. 
 30,569 do. 
 273 do. 
 
 249,582 06 
 91,016 55 
 904 32 
 735 80 
 47 40 
 289,968 12 
 1,006,866 84 
 989,450 40 
 17,424 33 
 191 10 
 
 6,052,453 do. - 
 
 2,446,186 92 
 
 376,294 pounds, at 
 963,257 do. 
 1,524,372 do. 
 1,713,623 do. 
 266,368 do. 
 
 45,155 28 
 240,814 25 
 426,824 16 
 685,449 20 
 133,184 00 
 
 4,843,914 do. 
 951 do. 
 
 1,531,426 89 
 646 68 
 
 4,842,963 do. 
 
 1,530,780 21 
 969 32 
 
 Additional duty on teas imported from other places than China 
 
 4. Sugar 
 Brown - - 48,250,688 pounds, at 3 cents - 
 White - - 3,034,295 do. 4 
 
 1,531,749 53 
 
 1,447,520 64 
 121,371 80 
 
 5. Salt- 
 Imported, bushels 
 Exported 
 Bounties and allowances, 
 reduced into bushels - 
 
 51,284,983 do. . - 
 
 at 20 cents 
 at 20 cents 
 
 1,568,892 44 
 
 3,557,925 
 32,589 
 
 772,940 
 
 . ' QAr, 7^0 
 
 711,585 00 
 161,105 80 
 
 
 2,752,396 
 
 550,479 20
 
 1819.] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 153 
 
 G. All other articles. 
 
 Quantity. 
 
 Rate 
 of 
 
 duty. 
 
 Duties. 
 
 
 
 
 Cents 
 
 
 Duck, Russia - -r 
 
 - pieces 
 
 $35,643 
 
 200 
 
 $71 ,286 00 
 
 Ravens - ... 
 
 - do. 
 
 32,262 
 
 125 
 
 41,577 50 
 
 Holland - *?', 
 
 do. 
 
 1,708 
 
 250 
 
 4,270 00 
 
 Sheeting, brown, Russia - 
 
 - do. 
 
 14,176 
 
 160 
 
 22,681 60 
 
 white, Russia - *:* - 
 
 -, do. 
 
 1,515 
 
 250 
 
 3,787 50 
 
 Beer, ale, and porter, in bottles - 
 
 - gallons 
 
 282,921 
 
 15 
 
 42,438 51 
 
 jn casks - " r ' - 
 
 do. 
 
 32,055 
 
 10 
 
 3,205 50 
 
 Oil, spermaceti - - T.. . 
 
 - do. 
 
 963 
 
 25 
 
 240 75 
 
 whale, and other fish - .'/*. 
 
 - do. 
 
 2,301 
 
 15 
 
 345 15 
 
 olive, in casks 
 
 - do. 
 
 16,049 
 
 25 
 
 4,012 25 
 
 Cocoa - *>* _ .j 
 
 - pounds 
 
 520,307 
 
 2 
 
 10,406 14 
 
 Chocolate - - -,-- 
 
 - do. 
 
 2,079 
 
 3 
 
 62 37 
 
 Sugar, candy - i,.;. 
 
 do. 
 
 2,339 
 
 12 
 
 280 68 
 
 loaf 
 
 do. 
 
 1,542 
 
 12 
 
 185 04 
 
 lump, and other refined 
 
 V- do. 
 
 1,061 
 
 10 
 
 106 10 
 
 Almonds - - '., . 
 
 - do. 
 
 567,682 
 
 3 
 
 17,030 46 
 
 Fruits Currants - ''- 
 
 . do. 
 
 87,116 
 
 3 
 
 2,613 48 
 
 Prunes and plums - - 
 
 do. 
 
 186,379 
 
 3 
 
 5,591 37 
 
 Figs ... 
 
 do. 
 
 243,312 
 
 3 
 
 7,299 36 
 
 Raisins, jar, &c. - ' -j' J 
 
 do. 
 
 2,391,865 
 
 3 
 
 71,755 95 
 
 all other - 
 
 do. 
 
 1,489,628 
 
 2 
 
 29,792 56 
 
 Candles, tallow 
 
 do. 
 
 23,784 
 
 3 
 
 713 52 
 
 wax or spermaceti L -!"* 
 
 do. 
 
 1,151 
 
 6 
 
 69 06 
 
 Cheese - - - ;%"'-!' 
 
 V- \ do. 
 
 185,494 
 
 9 
 
 16,694 46 
 
 Soap - - - : ~- 
 
 * do. 
 
 70,563 
 
 3 
 
 2,116 89 
 
 Tallow - - ' ". 
 
 - do. 
 
 804,334 
 
 1 
 
 8,043 34 
 
 Spices Mar.e - 
 
 i** do. 
 
 3,433 
 
 100 
 
 3,433 00 
 
 Nutmegs - J -[^ 
 
 - . do. 
 
 40,010 
 
 60 
 
 24,006 00 
 
 Cloves - - r 
 
 do. 
 
 30,315 
 
 25 
 
 7,578 75 
 
 Pepper 
 
 do. 
 
 1,100,209 
 
 8 
 
 88,016 72 
 
 Pimento - * ' - . - 
 
 - ; do. 
 
 220,740 
 
 6 
 
 13,244 40 
 
 Cassia - 
 
 do. 
 
 159,192 
 
 6 
 
 9,551 52 
 
 Tobacco, manufactured, other than snuff and segars, d. 
 
 103 
 
 10 
 
 10 30 
 
 Indigo - - ^- 
 
 do. 
 
 126,999 
 
 15 
 
 19,049 85 
 
 Cotton - - 
 
 do. 
 
 4,218,742 
 
 3 
 
 126,562 26 
 
 Gunpowder - - X. *l- 
 
 do. 
 
 105,627 
 
 8 
 
 8,450 16 
 
 Bristles - _jf ; - tL_ '^-^ 
 
 _.-... do. 
 
 188,077 
 
 3 
 
 5,642 31 
 
 Glue - - - . 
 
 - do. 
 
 50,582 
 
 5 
 
 2,529 10 
 
 Ochre, dry - - 
 
 do. 
 
 756,771 
 
 1 
 
 7,567 71 
 
 in oil - 
 
 do. 
 
 36,154 
 
 !i 
 
 542 31 
 
 White and red lead - - }i *f 
 
 do. 
 
 2,391,239 
 
 3" 
 
 71,737 17 
 
 Whiting and Paris white - 
 
 do. 
 
 36,117 
 
 1 
 
 361 17 
 
 Lead, pig, bar, and sheet - 
 
 do. 
 
 401,148 
 
 1 
 
 4,011 48 
 
 manufactured, and shot 
 
 do. 
 
 779,915 
 
 2 
 
 15,598 30 
 
 Cordage, cables and tarred 
 
 - do. 
 
 396,056 
 
 3 
 
 11,881 68 
 
 untarred, and yarn 
 
 - do. 
 
 85,586 
 
 4 
 
 3,423 44 
 
 Twine, seines, &c. ... 
 
 do. 
 
 505,004 
 
 4 
 
 20,200 16 
 
 Copper, rods and bolts - 
 
 do. 
 
 53,180 
 
 4 
 
 2,127 20 
 
 nails and spikes - 
 
 do. 
 
 53,667 
 
 4 
 
 2,146 68 
 
 Wire, not above No. 18 - 
 
 do. 
 
 286,260 
 
 5 
 
 14,313 00 
 
 above No. 18 
 
 do. 
 
 402 
 
 9 
 
 36 18 
 
 IroH, tacks, brads, &c., not above 16 oz. per thousand, M. 
 
 16,914 
 
 5 
 
 845 70 
 
 above do. 
 
 - do. 
 
 1,674 
 
 4 
 
 66 96 
 
 nails - .... 
 
 - pounds 
 
 376,722 
 
 3 
 
 11,301 66 
 
 do. - ... 
 
 do. 
 
 711,167 
 
 4 
 
 28,446 68 
 
 spikes - - - '.' : 
 
 do. 
 
 92,841 
 
 2 
 
 1,856 82 
 
 do. - - - -.<*.- 
 
 do. 
 
 169,823 
 
 3 
 
 5,094 69 
 
 anchors - - 
 
 - do. 
 
 113,431 
 
 2 
 
 2,268 62
 
 
 154 
 
 REPORTS OF THE [1819, 
 
 Explanatory Statements and Notes Continued. 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate 
 of 
 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Iron, anchors ... 
 
 cwt. 
 
 426 
 
 150 
 
 $639 00 
 
 Pig - 
 
 do. 
 
 3,970 
 
 50 
 
 1,985 00 
 
 castings 
 
 do. 
 
 15,915 
 
 75 
 
 11,936 25 
 
 sheet, rod, and hoop - 
 
 do. 
 
 17,856 
 
 250 
 
 44,640 00 
 
 bar and bolt, rolled - 
 
 do. 
 
 53,979 
 
 150 
 
 80,968 50 
 
 hammered 
 
 do. 
 
 52,739 
 
 45 
 
 23,732 55 
 
 do. ' 
 
 do. 
 
 245,699 
 
 75 
 
 184,274 25 
 
 Steel 
 
 do. 
 
 11,343 
 
 100 
 
 11,343 00 
 
 Hemp - 
 
 do. 
 
 99,249 
 
 150 
 
 148,873 50 
 
 Alum ..... 
 
 do. 
 
 4,334 
 
 100 
 
 4,334 00 
 
 Do. .... 
 
 do. 
 
 2,550 
 
 200 
 
 5,100 00 
 
 Copperas .-..". 
 
 cio. 
 
 455 
 
 100 
 
 455 00 
 
 Coal - - - . - 
 
 - bushels 
 
 921,832 
 
 5 
 
 46,091 60 
 
 Fish, dried, smoked, &c. - 
 
 - quintals 
 
 1,888 
 
 100 
 
 1,888 00 
 
 pickled, salmon 
 
 - barrels 
 
 2,512 
 
 200 
 
 5,024 00 
 
 mackerel - 
 
 do. 
 
 8,695 
 
 150 
 
 13,042 50 
 
 all other 
 
 do. 
 
 694 
 
 100 
 
 694 00 
 
 Glass, bottles, black quart - 
 
 gross 
 
 19,350 
 
 144 
 
 27,864 00 
 
 window, 8 by 10 - 
 
 -100 sq.ft. 
 
 5,722 
 
 250 
 
 14,305 00 
 
 10 by 12 - 
 
 do. 
 
 3,135 
 
 275 
 
 8,621 25 
 
 above 10 by 12 - 
 
 do. 
 
 5,462 
 
 325 
 
 17,751 50 
 
 Boots ..... 
 Shoes and slippers, silk - 
 
 pairs 
 do. 
 
 1,563 
 
 8,834 
 
 150 
 30 
 
 2,344 50 
 2,650 20 
 
 leather, men's, &c. - 
 
 do. 
 
 45,111 
 
 25 
 
 11,277 75 
 
 children's 
 
 do. 
 
 14,067 
 
 15 
 
 2,110 05 
 
 Segars - - 
 Playing cards - 
 
 M. 
 packs 
 
 15,723 
 11,999 
 
 250 
 30 
 
 39,307 50 
 3,599 70 
 
 Deduct exportations over importations, viz: 
 Cinnamon, 6,104 pounds, at 25 cents 
 
 
 $1,526 00 
 
 
 1,593,359 76 
 
 Snuff, 1,104 do. at 12 do. 
 
 - 
 
 132 48 
 
 
 
 
 
 
 - 
 
 1,658 48 
 
 
 
 
 
 Total 
 
 1,591,701 28 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 10, 1819. 
 
 JOSEPH NOURSE, Register.
 
 1319.] 
 
 SECRETARY OF THE TREASURY. 
 B. 
 
 155 
 
 STATEMENT of moneys received into the Treasury, from internal 
 duties and other objects, during the year 1818. 
 
 From arrears of new internal duties 
 
 new direct tax 
 
 old internal revenue - 
 
 old direct tax - 
 postage of letters 
 fees on letters patent 
 
 cents and half cents coined at the mint - 
 rent of the lead mines in the Missouri Territory - 
 fines, penalties, and forfeitures 
 surplus proceeds of property sold for paying of 
 
 direct taxes of 1815 
 surplus proceeds of property sold for paying of 
 
 direct taxes of 1816 
 
 interest on stock in the Bank of the United States 
 interest on balances due by banks to the U. States 
 
 $947,946 33 
 
 263,926 01 
 
 7.323 87 
 
 407 35 
 
 20,070 00 
 
 4,740 00 
 
 23,420 00 
 
 2.000 77 
 
 577 60 
 
 1,378 15 
 
 131 71 
 
 525,000 00 
 5,299 48 
 
 $1,802,221 27 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 4, 1819. 
 
 JOSEPH NOURSE, Register.
 
 156 
 
 REPORTS OF THE 
 
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 SECRETARY OF THE TREASURY. 
 
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 160 
 
 REPORTS OF THE 
 No. 1. 
 
 [1819 
 
 STATEMENT of the funded debt of the United States, on the 1st 
 
 October, 1818. 
 
 Deferred six per cent, stock, (unredeem- 
 ed amount) 
 Three per cent, stock 
 Louisiana six per cent, stock 
 Six per cent, stock of 1796 
 Exchanged six per cent, stock of 1812 - 
 
 Six per cent, stock of 1812, loan of 11 
 
 millions 
 Six per cent, stock of 1813, loan of 16 
 
 millions 
 Six per cent, stock of 1813, loan of 7^ 
 
 millions 
 Six per cent, stock of 1814, loan of 25 
 
 and 3 millions 
 Six per cent, stock of 1815, loan of 
 
 $18,452,800 - 
 
 Treasury note six per cent, stock 
 Treasury note seven per cent, stock 
 Five per cent, stock, (subscription to 
 
 Bank United States) 
 
 $3,521,695 40 
 13,454,575 68 
 
 9,955,900 00 
 80,000 00 
 
 2,669.108 99 
 
 $29,681,280 07 
 
 6,206,502 12 
 15,522,272 81. 
 
 6.836,232 39 
 13,011,437 63 
 
 9,505,625 41 
 1,337.004 99 
 8,726,964 49 
 
 7,000,000 00 
 
 68,146,039 84 
 $97,827,319 91 
 
 TREASURY DEPARTMENT. 
 
 Register's Office, November 30, 1819. 
 
 JOSEPH NOURSE, Register.
 
 1819.] 
 
 SECRETARY OF THE TREASURY. 
 
 161 
 
 $24,450,466 80 
 
 STATEMENT of the funded debt of the United States, on the 1st 
 
 January, 1819. 
 
 - ,ftilru;VK4?s$iI Ya-jfeMtflT ; 
 Deferred six per cent, stock, (unredeem- 
 
 ed amount) : *$ - $3,268,832 13 
 
 Three per cent, stock - , - 13,454,575 68 
 
 Louisiana six per cent, stock - O yr 4,977,950 00 
 
 Six per cent, stock of 1796 80,000 00 
 
 Exchanged .six per cent, stock of 1812 - 2.669.108 99 
 
 - ' -- -' - 
 Six per cent, stock of 1812, loan of eleven 
 
 millions - 6.206,502 12 
 Six percent, stock of 1813, loan of six- 
 
 teen millions - 15,522,272 81 
 Six per cent, stock of 1813, loan of seven 
 
 and a half millions - - - 6,836.232 39 
 Six per cent, stock of 1814, loan of 25 
 
 and 3 millions - 13,011.437 63 
 Six per cent, stock of 1815, loan of 
 
 818,452,800 - 9.505,625 41 
 
 Six per cent. Treasury note stock - 1,387,223 70 
 
 Seven per cent. Treasury note stock - 8,728,416 49 
 Five per cent, stock, (subscription to 
 
 Bank United States - - 7,000,000 00 
 
 
 a Unredeemed amount, 1st January, 
 
 1818 - $99,107,346 95 
 
 Add stock issued in 1818 : 
 
 $20 08 
 
 68,197,710 55 
 a $92,648 ; 177 35 
 
 Three per cent. 
 Treasury note six per cent. 
 
 (see No. 2 a) - 
 
 Treasury note seven per 
 
 cent, b (see No. 2 a) - 
 
 Deduct stock purchased 
 and reimbursed in 1818 : 
 
 Purchased, per statement 
 
 No. 4, accompanying re- 
 
 port of the 23d of Novem- 
 
 ber, 1818 , feO- - 
 
 VOL. ii. 11 
 
 117,801 70 
 
 8.886 00 
 
 126,707 78 
 
 $99,234.054 73 
 
 
 
 415,993 87
 
 162 
 
 REPORTS OF THE 
 
 [1819, 
 
 Reimbursed moiety of 
 Louisiana stock, 21st 
 October -$4,977,95000 
 
 Old six per cent, and de- 
 ferred stocks - - 1,191,933 51 
 
 As above, $92,648,177 35 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1819. 
 
 JOSEPH NOURSE, Register, 
 
 No. 2 a. 
 
 STATEMENT exhibiting the total amount of the six and seven per 
 cent. Treasury note stocks, issued to the 3lsl December, 1818. 
 
 At what office issued. 
 
 Treasury 
 
 New Hampshire 
 
 Massachusetts 
 
 Rhode Island 
 
 Connecticut 
 
 New York - 
 
 Pennsylvania 
 
 Delaware 
 
 Maryland 
 
 Virginia 
 
 North Carolina 
 
 South Carolina 
 
 Georgia 
 
 Deduct so much thereof included in 
 the statement of the funded debt 
 to 1st January, 1818 - 
 
 Six per cent, 
 
 - $46,652 37 
 
 - 62,992 28 
 
 - 500,049 61 
 
 - 10,942 83 
 
 - 348,560 66 
 
 940 00 
 
 - 42,881 26 
 
 8,756 92 
 
 - 282,149 99 
 
 - 107.517 43 
 
 1,411,443 35 
 - 1,293,641 65 
 
 Seven per cent 
 
 $201.187 00 
 
 121.361 00 
 
 3,04l'.520 00 
 
 163,122 00 
 
 79,499 00 
 
 4,725,846 00 
 
 701,041 00 
 
 15,127 00 
 1,866 00 
 1,180 00 
 8,166 00 
 
 3,880 00 
 
 9,063,795 00 
 9,054,909 00 
 
 a $117,801 70 
 
 b $8,8S6 00 
 
 TREASURY DEPARTMENT, 
 
 Register^' Office, December 4, 1819. 
 
 JOSEPH NOURSE, Register. 
 
 
 
 No. 3. 
 .ESTIMATE of the funded debt of the United States, 1st October, 1819. 
 
 Deferred six per cent, stock, (unredeemed 
 
 amount) - ' - $2,805,020 87 
 
 Three per cent. - - - 13,295,915 44 
 
 Louisiana six per cent. - - 4,818,279 92 
 
 Six per cent., 1796 - - 80,000 00 
 
 Exchanged six per cent., 1812 r ^ 2,668,974 99
 
 1819.] SECRETARY OF THE TREASURY. 
 
 Six per cent, stock of 1812, (loan of 11 
 
 millions) - $6,187,006 84 
 
 Six pel- cent, stock of 1813, (loan of 16 
 
 millions) 
 Six per cent, stock of 1813, (loan of 7^ 
 
 millions) - k - 
 
 Six per cent, stock of 1814, (loan of 25 
 
 and 3 millions) 
 Six per cent, stock of 1815, (loan of 
 
 $18,452,800) - - 9,490,099 10 
 
 Treasury note six per cent, stock - 1,419,125 61 
 
 Treasury note seven per cent, stock *^--' 8,595,29827 
 Five per cent, stock, (subscription to the 
 
 Bank of United States) - - 7,000,000 00 
 
 $68,060,336 29 
 
 Amount 1st October, 1819 $91,728,527 51 
 
 Amount as stated 1st January, 1819 - $92,648.177 35 
 Add stock issued in the first three quar- 
 ters of 1819 : 
 Three per cent, for inter- 
 est on old registered 
 debt - $304 68 
 
 Treasury note six per 
 
 cent. - - - 33.195 91 
 
 Treasury note seven per 
 cent.- - " - 2,635 00 
 
 36,135 59 
 
 92,684,312 94 
 
 Deduct stock purchased as per statement 
 No. 4, herewith - $711,957 55 
 Reimbursement of de- 
 ferred stock - - 243,827 88 
 
 955,785 43 
 
 As above stated, 1st October, 1819 - $91,728,527 51 
 Deduct stock reimbursable in the 4th 
 quarter of 1819 : 
 
 Louisiana 6 per cent. 
 (54 per cent, on 
 $4,818.279 92.) on 
 21st October -$2,601,81715 
 Deferred 6 per cent. 
 31st December - 241,506 70 
 
 2,843,323 85 
 
 Amount 1st January, 1820 $88,885,203 66 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1819. 
 
 JOSEPH NOURSE, Register.
 
 164 
 
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 SECRETARY OF THE TREASURY. 
 
 165 
 
 No. 5. 
 
 A STATEMENT of the several denominations of Treasury notes 
 issued; showing the amount outstanding^ by estimate, to the last date. 
 
 Treasury notes were issued under the several acts of Congress 
 Of the 20th June, 1812 , - - $5,000.000 
 
 25th February, 1813 - - iv^i* 5,000,000 
 
 4th March, 1814 - - - 10,000,000 
 
 26th December, 1814 - .- toO ' \*! 8,318,400 
 
 24th February, 1815, of $100 notes $4.969,400 
 Small Treasury notes 3,392,994 
 
 Total amount issued 
 
 8,362,394 
 - $36,680,794 
 
 Of the above amount there has been cancelled at the 
 
 Treasury - $32,763,890 
 
 Small Treasury notes in the several banks, viz: 
 
 New Hampshire, (Union Bank) - - 9 
 
 Branch Bank Washington - *-' 127 
 
 Drawn into the Treasury by warrants, and in 
 a course of settlement for the purpose of being 
 cancelled Small Treasury notes - $3,342,127 
 
 In the Auditor's Office, in a course of cancel- 
 ment for six per cent, stock issued at 
 
 The Treasury, 23d October, 1819 $22,800 
 New Hampshire. 30th June, 1,920 
 
 Massachusetts, 30th Sept'r 93,020 
 Rhode Island, 31st March 3,280 
 
 New York, 30th September 29,040 
 Maryland, 31st March - 43,800 
 Yirginia - - 1,260 
 
 South Carolina, 30th June, 1819 - 14,700 
 Georgia, 31st Dec. 1817 - - 98,000 
 
 136 
 
 
 In the Branch Bank, Washington - 
 From which deduct the estimated 
 
 amount of interest included in this 
 
 sum - - 
 
 Balance outstanding, by estimate, viz 
 In small Treasury notes 
 Other notes ... 
 
 As above - 
 
 90.332 09 
 
 307,820 
 
 5,332 09 
 
 85.000 
 
 3,734,947 
 
 - 10,961 
 
 - 170,860 
 
 181,821 
 $36,680,794 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 4, 1819. 
 
 JOSEPH NOURSE, Register.
 
 166 
 
 REPORTS OF THE 
 
 [1819, 
 
 No. 6. 
 
 STA TEMENT of the claims awarded by the commissioners appoint- 
 ed by virtue of the act of Congress entitled " An act supplementary 
 to the. act entitled ' An act for the indemnification of certain claim- 
 ants of public lands in the Mississippi Territory ;'" passed on the 3d 
 March, 1815. 
 
 Awards in. .favor of 
 
 Individuals claiming under the! Jpper Mississippi Company 
 
 * Tennessee Company 
 Georgia Mississippi Com- 
 pany - 
 
 Georgia Company 
 Citizens' rights 
 
 Amount of certificates issued 
 Ditto to be issued 
 
 Total - 
 
 - $4,273,550 17$ - 
 8,600 95" - 
 
 Amount. 
 
 $350,000 00 
 531,428 05 
 
 1,412,134 96 
 
 1,887,040 95 
 101,547 16 
 
 ^4,282,151 12 
 
 $4,282,151 12 
 
 TREASURY DEPARTMENT, 
 
 Registers Office, December 3, 1819. 
 
 JOSEPH NOURSE, Register.
 
 1S20.] SECRETARY OF THE TREASURY. 167 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1820. 
 
 
 In obedience to the directions of the " Act supplementary to the act to 
 establish the Treasury Department," the Secretary of the Treasury respect- 
 fully submits the following report. 
 
 I. OF THE REVENUE. 
 
 The nett revenue arising from imports and tonnage, internal duties, di- 
 rect tax, public lands, postage, and other incidental receipts during the year 
 1817, amounted to ' $24,365,227 34 
 
 Yiz : Customs, (see statement A) - - $17.524,775 15 
 
 Internal duties - - - 2,676,882 77 
 
 Direct tax - "y ' 1,833,737 04 
 
 Public lands, exclusive of Mississippi 
 
 stock -" 2.015,977 00 
 
 Postage, and other incidental receipts 313,855 38 
 
 That which accrued from the same sources during the year 
 1818 amounted to - 26,095,200 65 
 
 Viz : Customs, (see statement A) - - $21,828,451 48 
 
 Arrears of internal duties - - 947,946 33 
 
 Arrears of direct tax - 263,926 01 
 
 Public lands, exclusive of Mississippi 
 
 stock - - . 2,464,527 90 
 
 Postage, dividends on bank stock, and 
 other incidental receipts '- ' 590,348 93 
 
 And that which accrued from the same sources during 
 the year 1819 amounted to - ^21,435,700 69 
 
 Viz : Customs, (see statement A) - - $17,116,702 96 
 
 Arrears of internal duties, (see state- 
 ment B) - 227,444 01 
 Arrears of direct tax, (see statement B) 80,850 61 
 Public lands, exclusive of Miss'pi stock 3,274,422 78 
 Postage, and other incidental receipts 61,280 33 
 First instalment from the Bank of the 
 United States, and dividend on the 
 stock in that bank - - 675,000 00 
 
 It is ascertained that the gross amount of duties on merchandise and ton- 
 nage, which accrued during the first three quarters of the present year, ex- 
 ceeds $13,340,000 ; and the sales of public lands during the first two quar- 
 ters of the year exceed $1,240,000. 
 
 The payments into the Treasury, during the first three quarters of the 
 present year are estimated to amount to - $16,819,637 49 
 
 Viz: Customs $12,378,513 12 
 
 Public lands, exclusive of Mississippi 
 
 stock - - 1,124,645 32 
 
 " '
 
 
 68 
 
 REPORTS OF THE [1820 
 
 Arrears of internal duties ; $104,76920 
 Arrears of direct tax 
 
 Incidental receipts - JW49 14 
 
 Moneys received from loans -'!' ',;:-' 2,545,431 47 
 
 Repayments 86,529 24 
 
 - And the payments into the Treasury during the fourth 
 cruarter of the present year, from the same sources, are esti- 
 mated at - - $3,430,000 00 
 
 Making the total amount estimated to be received into 
 the Treasury during the year 1820 - 20,249,637 49 
 
 Which added to the balance in the Treasury on the 1st 
 day of January last, amounting to ,'- 2,076,607 '14 
 
 Makes the aggregate amount of $22,326,244 6o 
 
 The application of this sum for the year 1820 is estimat- 
 ed as follows, viz: 
 
 To the 30th of September, the payments have amounted 
 to - - - $16,908,413 BO 
 
 Viz: 
 
 Civil, diplomatic, and mis- 
 cellaneous expenses - $2,078.573 25 
 
 Military service, including 
 fortifications, ordnance, Indi- 
 an department, revolutionary 
 and military pensions, arming 
 the militia, and arrearages 
 prior to the 1st January. 1817 6,043,068 00 
 
 Naval service, including 
 the permanent appropriation 
 for the increase of the navy. 2,946,762 00 
 
 Public debt, including 
 $1.142,879 55, for the re- 
 demption of the Mississippi 
 certificates - h " r - 5,840,010 55 
 
 During the fourth quarter it is estimated,' 
 the payments will amount to - ' % ;-T,,'. 8,056,000.00 
 
 -f T 
 
 viz: 
 
 Civil, diplomatic, and mis- 
 cellaneous expenses - . - 450,000 00 
 
 Military service - - 1,900,000 00 
 
 Naval service- ^ - : 806,000 00 
 
 Public debt, to the 1st Jan- 
 uary,1821 -,^^; -4,900,00000 
 
 Making the aggregate amount of - 24,964,413 .80 
 
 And leaving on the 1st of January, 1821, a balance 
 against the Treasurv, estimated at -,* - -,$2,638,16917 
 
 . lO . 9Vi312X? , ^ ' .?
 
 1820.] SECRETARY OF THE TREASURY. 169 
 
 II. OF THE PUBLIC DEBT. 
 
 The funded debt which was contracted before the year 1812, and which 
 was unredeemed on the 1st of October, 1819, as appears by statement No. 1, 
 amounted to - 823.668.254 71 
 
 And that contracted subsequent to the 1st day of Janua- 
 ry, 1812. and unredeemed on the 1st day of October, 1819, 
 as appears by the same statement, amounted to - - 68,060,336 29 
 
 Making the aggregate amount of -$91,728.591 00 
 
 Which sum agrees with the amount, as stated in the last 
 annual report as unredeemed on the 1st of October, 1819, 
 excepting the sum of $63 49, which was then short esti- 
 mated, and which has since been corrected by actual settle- 
 ment. 
 
 In the fourth quarter of 1819, there was added to the 
 above sum, for Treasury notes brought into the Treasury 
 and cancelled, the following sums, viz : 
 
 In 6 per cent, stock - $4,152 18 
 
 In 7 per cent, stock 10,525 00 
 
 ' 14,677 18 
 
 Making - $91,743.268 18 
 
 From which deduct Louisiana six per cent, stock, reim- 
 bursed on the 21st of October. 1819 - $2,601,871 14 
 
 And deferred stock reimbursed between 
 the 1st of October, 1819, and 1st of Janu- 
 ary. 1820 - 242,063 47 
 
 2,843.934 61 
 
 Making the public debt which was unredeemed on the 
 1st day of January, 1820, as per statement No. 2, amount to $88,899.333 57 
 
 From the 1st of January to the 30th of September, in- 
 clusive, there was, by funding Treasury notes, and issuing 
 three per cent, stock for interest on the old registered debt, 
 added to the public debt, as appears by statement No. 3, the 
 amount of 834,550 19 
 
 And by the loan authorized per act of 
 May loth, 1820 - - 2,545,431 47 
 
 2,579.981 66 
 
 Making " -.fc - $91.479,315 23 
 From which deduct the amount of stock purchased dur- 
 ing that period, as per statement No. 3 - $40 34 
 
 And the estimated reimbursement of de- 
 ferred stock 253,752 78 
 
 253.793 12 
 
 Making, on the 1st of October, 1820. as appears by state- 
 ment No. 3. the sum of - . $91,225,522 11 
 
 To which add, in the fourth quarter of 1820. on account 
 of the loan of the 15th May, of the same year 454,567 66 
 
 Making - - $91,680,089 77
 
 170 REPORTS OF THE [1820. 
 
 There will be reimbursed of the principal of the defer- 
 red stock, on the 1st January, 1821 - $249,444 16 
 
 Since the 30th September last, the residue 
 of the Louisiana stock has become redeema- 
 ble, amounting to 2,216,408 78 
 
 $2,465,852 94 
 
 Which, if discharged before the 1st day of January, 1821, 
 will leave the public debt unredeemed on that day, as esti- 
 mated - - - - $89,214,236 83 
 
 The Treasury notes yet in circulation are estimated, 
 as appears by statement No. 5, at $27,656 00 
 
 The whole of the awards made by the commissioners 
 appointed under the several acts of Congress for the in- 
 demnification of certain claimants of public lands, (as ap- 
 pears by statement No. 6,) amount to - $4,282,151 12 
 
 Of which there has been received at the General Land 
 Office - - $2,439,308 31 
 
 And there was paid at the Treasury, 66 
 per cent, on $1,731,635 69 - - 1.142,879 55 
 
 3,582,187 86 
 
 Leaving outstanding, on the 30th- September. 1820 - $699,963 26 
 
 III. OF THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURES 
 
 FOR THE YEAR 1821. 
 
 In forming an estimate of the receipts into the Treasury for the year 1821, 
 the amount of revenue bonds outstanding on the 30th day of September 
 last, the sum due for public land, the ability and disposition of the commu- 
 nity to purchase, and especially the quantity]and quality of land intended 
 to be exposed at public auction in the course of the year, present the 
 data upon which the calculation must be made. As a portion of the duties 
 which accrued in the fourth quarter of the present year, and in the first and 
 second quarters of the next, form a part of the receipts into the Treasury for 
 the latter year, the amount received will exceed or fall short of the 
 estimate, by the difference between the duties which actually accrued in 
 those quarters, and are payable within the year, and the amount at which 
 they had been estimated. 
 
 The receipts into the Treasury may also considerably exceed or fall short 
 of the sum estimated, in consequence of the issue of a greater or less amount 
 of debentures payable during the year 1821 than had been estimated. 
 
 The degree of punctuality with which the revenue bonds are discharged, 
 upon which the estimate is formed, must necessarily affect the amount that 
 will be received into the Treasury. 
 
 If the accruing revenue of the present and two succeeding quarters should 
 exceed that of the corresponding quarters of the present and last years : if 
 the amount of the debentures which may be issued and made payable, so as 
 to affect the receipts of the year, should be less than that of the preceding 
 years since the peace, compared with the gross amount of duties secured
 
 1820.] SECRETARY OF THE TREASURY. 171 
 
 within those years respectively; and if greater punctuality in the payment of 
 the revenue bonds now outstanding should be observed than during the last 
 mentioned period, the receipts from the customs will exceed the estimates 
 now presented; and they will fall short of it, should all these contingencies 
 be unfavorable, as has been the case during the present year. 
 
 The revenue bonds outstanding on the 30th of September last are esti- 
 mated at 18,770,000 dollars. Of this sum, 3,130,000 dollars are in suit ; of 
 xvhich about 1,250,000 dollars will not be collected, on account of the insol- 
 vency of the debtors; leaving the amount of bonds outstanding upon which 
 collections are to be made, estimated at 17,520,000 dollars. The amount 
 of duties secured during the 1st. 2d, and 3d quarters of the year 1820, is 
 estimated at 13,350,000 dollars, and that of the whole year may be estimated 
 at 16,500,000. The amount of debentures outstanding on the 30th of Sep- 
 tember last, and payable during the year 1821, is estimated at $1,162,114 16, 
 which is subject to be increased by the amount issued in the present quarter, 
 and during the whole of the ensuing year, chargeable upon the revenue of 
 that year. The annual average amount of debentures, bounties, and allow- 
 ances, and expenses of collection, chargeable upon the revenue, has been 
 ascertained to be nearly equal to 15 per cent, of the annual average amount 
 of the duties upon imports and tonnage, which accrued from the year 1815 
 to the year 1819, inclusive. 
 
 If this proportion be applied to the revenue bonds outstanding on the 30th 
 of September last ; and if the receipts from the tonnage of vessels and upon du- 
 ties secured during the present and the two succeeding quarters, are assum- 
 ed to be equal to any deficiency resulting from the want of punctuality in 
 the discharge of the outstanding bonds, the receipts into the Treasury for 
 the year 1821, from this source of revenue, may be estimated at 14,000,000 
 dollars. 
 
 The receipts into the Treasury from the public land during the first three 
 quarters of the present year are estimated at $1,124.645 32, and those of the 
 entire year will probably not much exceed 1,600,000 dollars. 
 
 The receipts from that source during the year 1821 will probably not 
 exceed those of the present year, if no incentive to greater punctuality, or 
 inducement to make prompt payment, should be presented to the public 
 debtor, in the course of the present session of Congress. 
 
 The balances of internal duties and direct tax still outstanding, are so con- 
 siderable as to justify an estimate of some extent, in calculating the receipts 
 of the ensuing year, if the difficulty of enforcing payment in those States 
 where the largest amount is due were not known to be great. Under these 
 circumstances, the receipts from that source, for the ensuing year are esti- 
 mated at 100,000 dollars. 
 
 According to the foregoing data, the receipts into the Treasury for the 
 ensuing year may be estimated as follows, viz: 
 
 Customs. $14,000,00000 
 
 Public lands, exclusive of Mississippi stock 1,600,000 00 
 
 Arrears of internal duties, direct tax, and 
 incidental receipts - - - 100,000 00 
 
 Third instalment from the Bank of the 
 United States - 500,000 00 
 
 Bank dividends, which will accrue during 
 the year, estimated at 5 per cent. - 350,000 00 
 
 Making the aggregate amount of - - $16,550,000 00
 
 172 EEPORTS OF THE [1820. 
 
 The appropriations for the same period are estimated as 
 follows, viz: 
 
 1st. Civil, diplomatic, and miscellaneous $1,769,850 04 
 
 2d. Military department, including fortifi- 
 cations, ordnance, Indian department, mili- 
 tary pensions, and arrearages prior to the 1st 
 January, 1817 : ~i= 4,585,352 61 
 
 3d. Naval department - - 2,420,594 56 
 
 Making an aggregate of - - $8,775,797 21 
 
 .Bat to determine the amount of the charge upon the Treasury for the ser- 
 vice of that year, the following additions must be made, viz : 
 
 1st. Civil, diplomatic, and miscellaneous, the sum of $1,500.000, being an 
 amount of appropriations for the present and preceding years unexpended, 
 and which may be expended during the year 1821; and the sum of 
 $5,477,770 76, payable on account of the interest and reimbursement of the 
 principal of the public debt during that year. 
 
 2d. The unexpended balances of appropriations for the War Department, 
 under the different heads already enumerated, and which have been deduct- 
 ed from the estimates, or not included in them, (as in the case of revolution- 
 ary pensions, because the balance of that appropriation is estimated to be 
 equal to the .expenditure on that object during the year,) amounting together 
 to $2.507,267 63. 
 
 The annual appropriation of $200,000 for arming the militia, and the 
 Indian annuities not embraced by the estimates, amounting to $152,575. 
 
 3d. The annual appropriation of $1,000,000, for the gradual increase of 
 the navy, which will expire in the year 1823 ; and an unexpended balance 
 on the same account, which may be expended in 1S2J, of $1,750,000. 
 
 According to the foregoing data, the expenditure of the year 1821, and 
 which is chargeable upon the Treasury during that year, may be estimated 
 as follows, viz : 
 
 1st. Civil, diplomatic, and miscellane- 
 ous - , -$3,269,850 04 
 
 2d. Public debt - 5,477,777 76 
 
 3d. Military department, including for- / 
 tifications, ordnance, Indian department, 
 military and revolutionary pensions, ar- 
 rears prior to the 1st of Jan'y, 1817, and 
 arming the militia, and Indian annuities, 7,445,195 24 
 
 4th. Navy Department, including the 
 sum of $1,000,000 for the gradual in- 
 crease of the navy - - - 5,170,594 56 
 
 Making an aggregate charge upon the Treasury, for 
 the year 1821, of . $21,363,417 60 
 
 To which add the balance against the Treasury on the 
 1st January, 1821 2,638,169 17 
 
 Making - . $24,001,586 77 
 
 Leaving a balance of $7,451.586 77. beyond the estimated means, for 
 which provision must be made.
 
 1S20.] SECRETARY OF THE TREASURY. 173 
 
 To determine whether a deficiency to this or any other amount will oc- 
 cur in succeeding years, is extremely difficult. The data furnished by the 
 fiscal operations of the Government, since the peace, must be principally 
 relied upon, in making 1 the calculation necessary to arrive at any general 
 result upon this subject. 
 
 It has been ascertained that the nett revenue which has accrued from 
 imports and tonnage, from the year 1815 to 1819, inclusive, has amounted 
 to $120.260,052 46. If this be divided by the number of years in which 
 it accrued, the result will be an annual average revenue of $ 24,052,000. 
 But the revenue which accrued in IS 15 greatly exceeded, not only that of 
 any year previous to the war, but that of any year since that epoch. It is 
 also admitted that the quantity of produce on hand at the close of the war, 
 especially of cotton and tobacco, considerably exceeded the amount of the 
 crop of those articles made during the preceding year. The ability of the 
 community, therefore, to purchase an increased amount of foreign articles, 
 in the year 1815, exceeded in a corresponding degree that of subsequent 
 years. It has also been ascertained that the importation of foreign articles, 
 during the present year, has been considerably less than in any year since 
 the peace. To form an estimate of the average annual revenue which may 
 accrue from imports and tonnage, during the next four years, that will ap- 
 proximate towards accuracy, it will be necessary to embrace in the calcula- 
 tion the revenue which accrued from the year 1814 to 1819, inclusive, 
 amounting to $124,510,41405, and that which shall have accrued in the 
 year 1820, estimated at $14.000,000; making the aggregate sum of 
 $138,510,414 05, which gives the sum of $19,787,202, as the annual ave- 
 rage revenue for those seven years. 
 
 Other views, derived from the fiscal operations of the Government, will be 
 found to accord with this result. The average product of the duties upon 
 imports and tonnage, which accrued from the year 1801 to 1807, inclusive, 
 may ba stated at $13,640,000 ; and that which accrued from the former pe- 
 riod to 1813, inclusive, amounted to the annual sum of $11,570,000. 
 The increase of population in the United States has been estimated at 
 34 per cent, in ten years. If the increase of consumption has corresponded 
 with that of population, the revenue of the year 1820, according to the re- 
 sult furnished by the first seven years, would exceed 20,000,000, and 
 would fall but little short of $17,000.000, according to the data furnished 
 by the whole period. During the former period, the principal States of 
 Europe were involved in wars, which not only gave to our shipping the 
 principal part of the carrying trade, but created an unusual demand for 
 every article of exportation, and greatly enhanced their value. Any estimate 
 founded upon the average revenue of those years, the duties upon imports 
 remaining the same, would, most probably, not be realized ; but as these 
 duties were considerably increased in 1816, the objections to such an esti- 
 mate are, in some degree, diminished. From the year 1808 to 1813 inclu- 
 sive, the United States were engaged in a state of commercial or actual 
 warfare. The disadvantages to which their commerce was subjected by 
 that warfare more than counterbalance the peculiar advantages it enjoyed 
 in the seven years immediately preceding. An estimate for the next four 
 years, founded upon an average of the whole, term, would more probably 
 fall short of than exceed the sum which would be received into the Treas- 
 ury, notwithstanding the duties were higher during two years of that term 
 than at present.
 
 174 REPORTS OF THE [1820. 
 
 In the investigation of a subject of such complexity, affecting so deeply 
 the interest of the community, every fact and circumstance connected with 
 it ought to be considered. Since the year 1807, new interests have arisen, 
 which claim a prominent place in this consideration. From time immemo- 
 rial, household manufactures have existed in every part of the United 
 States. The mechanical arts those branches of manufacture without which 
 society, even in a very imperfect state of civilization, could not exist, though 
 diifering in some degree from those properly denominated household 
 have long existed in the United States. Since the year 1807, those 
 branches of manufacture have been greatly extended and improved. Others 
 have been established ; and a large amount of capital has been invested in 
 manufacturing establishments, which promise to furnish, in a short time, 
 an ample supply of cotton and woollen manufactures, and most of those of 
 iron, glass, and various other articles of great value. 
 
 As commerce has properly been defined to be an exchange of equivalent 
 value, it is probable that the failure, on our part, to receive from foreign 
 nations the accustomed supply of those articles which can now be produced 
 in our domestic establishments, the articles which they have been accus- 
 tomed to receive from us will lose something of the value which they 
 would otherwise have commanded, until new channels of intercourse shall 
 be discovered, and different articles of merchandise shall be substituted for 
 those formerly received. 
 
 The capacity of a nation to consume foreign articles depends upon the 
 value of its exports, and not upon its ability to furnish every article of pri- 
 mary or secondary necessity. The precious metals are never imported 
 into any country, when commodities which will command a profit can be 
 obtained for importation. Giving full weight to the fact that cotton, wool- 
 len, iron, and various other articles which are now furnished by our domes- 
 tic establishments, will be hereafter received from foreign nations only to 
 a small amount, $17,000,000 of revenue may be assumed as the minimum, 
 and $20,000,000 as the maximum, which will be annually received from 
 imports and tonnage during the next four years. The decrease which 
 has occurred in the revenue, in the last and present years, furnishes no 
 ground to distrust the correctness of the foregoing conclusion. The cus- 
 toms produced, in 1815, a nett revenue of $36,306,022 51; in 1816, 
 $27,484,100 36; and in 1817, $17.524,775 15. This last year was consid- 
 ered, at the time, as the period of greatest reaction ; accordingly, in 1818, 
 the nett revenue from the customs amounted to $21,828,451 48. 
 
 The multiplication of banks, the state of the currency, and the high 
 price which all exportable articles commanded, until the end of 1818, strong- 
 ly invited to extravagance of every kind, and particularly in the consump- 
 tion of foreign merchandise. The resources of individuals had been, by 
 these seductions, in a great degree anticipated, during the first years which 
 succeeded the peace. The sudden reduction in the value of all exportable 
 articles, which occurred about the commencement of the year 1819, not 
 only prevented in a great degree further purchases, but rendered the dis- 
 charge of engagements previously contracted impracticable. The pressure 
 thus produced upon the community reacted upon the venders of every 
 species of merchandise, whether foreign or domestic; who, without tho- 
 roughly investigating the cause of their distress, have sought for relief in 
 measures calculated rather to aggravate than alleviate the public embarrass- 
 ment.
 
 1820.] SECRETARY OF THE TREASURY. 175 
 
 The issue and payment of a larger amount of debentures, in the present 
 year, in proportion to the exportations of the last ; the increased amount of 
 specie, and diminished amount of foreign merchandise imported during the 
 present year; and the ready sale of foreign and domestic articles now in the 
 market, show that the importation of foreign goods is upon the eve of be- 
 ing regulated by the demand for them for consumption. 
 
 It has been stated that the receipts from the public land, during the year 
 1S21, cannot be estimated at more than $1,600,000, unless some greater 
 incentive to punctuality, or inducement to make prompt payments, should 
 be offered by the measures which may be adopted in the course of the pre- 
 sent session of Congress. The act of the 24th of April last, which abolish- 
 ed credit on all purchases of land, and reduced the minimum price from 200 
 to 125 cents per acre, furnishes, it is respectfully conceived, equitable 
 ground for legislative interference in favor of purchasers under the ancient 
 system. By that system, the price could be reduced to 164 cents an acre, 
 by prompt payment. If the act abolishing credit had fixed the minimum 
 price at 164 cents, instead of 125 cents, no equitable ground for legislative 
 interference would exist. It is not contended that the vender of an article, 
 under ordinary circumstances, does an injury to a purchaser by subsequent- 
 ly selling the same article to others at a lower rate. But if he has in his 
 possession such a quantity of the article sold, as to enable him, for an inde- 
 finite time, to determine the price of the article, he affects the interest of 
 every previous purchaser by such reduction, who may be constrained, from 
 any cause whatever, to sell that article. The extent of the national domain 
 will, for ages, enable the Government to determine the price of unimproved 
 land similarly situated. It is admitted that the Government has been in- 
 duced to adopt this measure by the most grave considerations. The most 
 prominent of these was the necessity of preventing the further increase of 
 a debt, then about $22,000,000, strongly affecting the interests and feelings 
 of a great number of citizens. If its increase was an object of deep solici- 
 tude'its diminution, by an act of grace, founded upon equitable principles, 
 will be in strict accordance with the motives in which that measure origin- 
 ated. Difficulties may occur in adjusting the details of such a measure, 
 unless rt be presented as a simple act of grace. Under this point of view, 
 it should be confined in its operation to the debtors of the Government for 
 public lands, and should affect them only to the extent of the debts which 
 they may respectively owe. 
 
 During the excessive circulation of bank notes not convertible into specie, 
 and to which the Government, from necessity, for some time gave currency, 
 and the high price which every description of domestic produce command- 
 ed, large quantities of public land were sold at public auction, at prices 
 greatly beyond their real value. In many instances, the first payment 
 which the Government has received cannot be obtained by the purchaser, 
 if he was able to convey the title in fee simple. The propriety of legisla- 
 tive interference to change the relation between debtor and creditor, for 
 the benefit of either, may well be questioned. Circumstances, however, 
 may arise, which will influence an upright and benevolent creditor to relax 
 his demands, and to grant relief to his debtor voluntarily, which he might 
 resist as an act of power. Such is respectfully conceived to be the situation 
 of the Government in relation to the purchasers of public lands, who, in a 
 moment of infatuation, have engaged to pay for a portion of the national 
 domain a sum greatly beyond its value, and which never will be paid.
 
 176 REPORTS OF THE [1820 
 
 In all cases of this kind, the forfeiture of the sum already advanced will 
 inevitably occur, if relief, to some extent, is not granted. 
 
 In conformity with the foregoing views, the following propositions for 
 the relief of the" purchasers of public lands, and for the purpose of increas- 
 ing the payments into the Treasury in the ensuing year, are respectfully 
 submitted, viz: 
 
 1st. That every purchaser of public land be permitted, on or before the 
 30th of September next, to abandon any legal subdivision of his purchase ; 
 and that the payments made upon the part abandoned be applied to the dis- 
 charge of the instalments due upon the remainder ; the right to abandon in 
 no case to involve any repayment by the ^Government to any purchaser. 
 In all cases, the part retained to be in the most compact form that the situa- 
 tion of the whole quantity purchased will permit, 
 
 2d. The difference between the former and present minimum price, for 
 cash payments, being equal to 23.78 per cent, on the former, it is respect- 
 fully proposed that, on payment of the whole purchase money for any tract 
 of land, on or before the 30th day of September next, a deduction of 25 
 per cent, shall be made ; and that any interest which may have accrued to 
 the United States, in such cases, be remitted. An act of greater liberality, 
 and which would still further increase the receipts into the Treasury, during 
 the next year, would be to allow a deduction of 37^ per cent, on all such 
 payments ; which is equal to the difference between 200 and 125 cents. . 
 
 3d. That all sums which may be due by purchasers of public lands who 
 shall not avail themselves of the preceding conditions, shall be payable in 
 ten equal annual instalments, without interest; provided such payments shall 
 be punctually made upon the several days in each successive year upon 
 which the purchases were respectively made. And failure in making such 
 payment to revive the original terms and conditions of sale. 
 
 If these or analogous provisions should be adopted, the payments from 
 the public lands, during the year 1821, will be greatly increased ; the debt 
 due on that account greatly diminished ; and the revenue resulting from 
 that source acquire, in future years, a more uniform character. 
 
 If. then, it be assumed that the revenue which will accrue from the cus- 
 toms will be equal to the mean sum between seventeen millions and twen- 
 ty millions of dollars, the annual revenue for the four succeed ing years may 
 be estimated as follows, viz : 
 
 Customs - - - ... , $18,500.000 00 
 
 Public land - 2.500.000 00 
 
 Bank dividends, at 6 per cent. '420',000 00 
 
 Incidental receipts - , f T?^ 80,000 00 
 
 Making an aggregate amount of - $21,500,000 00 
 
 But if the annual receipts from the customs shall be estimated for the 
 next four years at the average sum of $17,000,000, the annual revenue for 
 that period will be equal to $20,000,000. 
 
 The annual expenditure for the same period may be estimated as follows, 
 viz : 
 
 Civil, diplomatic, and miscellaneous - - $2,000,000 00 
 
 Public debt 5,477,000 00 
 
 War Department, including fortifications, ordnance, 
 Indian department, military and revolutionary
 
 1320.J SECRETARY OF THE TREASURY. 177 
 
 pensions, arming the militia, and arrears prior to the 1st 
 of January, 1817 - $5,850,000 00 
 
 Naval department, including $1,000,000 for the perma- 
 nent increase of the navy rtf?i'.ii '', 3,420,00000 
 
 Making the aggregate amount of - - $16,747,000 00 
 
 The balance of the sinking fund, after paying the interest of the funded 
 debt, and providing for the annual reimbursement of the six per cent, de- 
 ferred stock, has not, in this estimate, been considered as a charge upon the 
 Treasury before the year 1825, as the price of the public stocks preclude 
 the possibility of purchase within the rates prescribed by law. 
 
 This estimate is below that which is required for the year 1821 ; but it is 
 not believed to be less than the annual expenditure which will be required 
 for the next four years. According to this estimate, the means will exceed 
 the indispensable expenditure during that period $3,253,000. 
 
 After the year 1823, the annual expenditure upon the navy will be di- 
 minished by $1.000,000. 
 
 The expenditure of the Government after that year, including the entire 
 appropriation for the public debt, is estimated as follows, viz : 
 Civil, diplomatic, and miscellaneous - ^ : -" . $2,000,000 00 
 Public debt - f> - 10,000,000 00 
 
 Military department, including fortifications, ordnance, In- 
 dian department, military and revolutionary pensions, 
 arming the militia, arid arrearages prior to the 1st of 
 January, 1817 - - 5,850,000 00 
 
 Naval department - 2,420,000 00 
 
 Making the aggregate amount of - $20,270,000 00 
 
 Which, after the year 1824, would leave an annual deficit of $270,000. 
 
 If this sum should not be met by the annual increase of revenue, result- 
 ing from the increase of population during those and succeeding years, and 
 the increased consumption of foreign articles resulting therefrom, it may 
 be supplied by a corresponding reduction in those items of expenditure 
 which depend absolutely upon the will of the Legislature, unconnected with 
 the existing laws regulating the permanent expenditure. 
 
 It is, therefore, respectfully submitted that it is inexpedient to resort, at 
 this time, to the imposition of additional taxes upon the community 
 
 The condition of the currency in several of the States of tie Union fur- 
 nishes strong inducements to abstain from additional taxation at this time. 
 The obligation of the Government to receive the notes oi ite Bank of the 
 United States, without reference to the place where t/iey are payable, has 
 given to them their universal currency. All notes issued south and west of 
 this, (Washington,) have, in consequence of the tfate of exchange between 
 those places and the commercial cities to the east of this place, centred in 
 those cities. The bank has, consequently, fraud itself constrained to direct 
 those branches to refuse to issue their notes, even upon a deposite of specie. 
 The effect of these causes combined has been the exclusion from circulation, 
 in all States west and south of the seat oi Government, of the notes of the 
 Bank of the United States and its offices. In several of those States there 
 is no sound paper circulation. To resort to internal taxation, under such 
 circumstances, would be to require of the citizens of those States what will 
 YOL. n. 12
 
 178 REPORTS OF THE [1820. 
 
 be impossible for them 'to perform. Wherever paper circulates as money, 
 which is not convertible into specie, it circulates to the exclusion of specie, 
 and of paper which is convertible into gold and silver coin. In all such 
 places, the payment of direct or internal taxes in specie, or in the notes of 
 the Bank of the United States, will be impracticable. Preliminary to a re- 
 sort to internal taxation of any kind, the charter of the Bank of the United 
 States ought to be amended so as to make the bills of all the offices of the 
 bank, except that at the seat of Government, receivable only in the States 
 where they are made payable, and in the States and Territories where no 
 office is established. 
 
 The effect of this modification will be, to make the notes of the offices of 
 the bank, except the office in this District, a local currency, which will 
 enter and continue in the local circulation of the States in which they are 
 issued. 
 
 The notes thus issued will render the local circulation of all the States 
 sound, and furnish to the citizens the means of discharging their contribu- 
 tions to the Government. This measure will also place the State institu- 
 tions. to the south and west of this city, in a more eligible situation, in rela- 
 tion to the offices of the Bank of the United States, by enabling them to 
 adjust their accounts with these offices by the exchange of notes, instead of 
 liquidating their balances by the payment of specie. 
 
 Should it, however, be judged expedient by the Legislature to lay addi- 
 tional burdens upon the people, for the purpose of meeting the existing or 
 any probable future deficiency, it is respectfully submitted that the importa- 
 tion of foreign spirits be prohibited, and that a duty upon domestic spirits, 
 equal to the amount of that now collected upon foreign spirits, and to such 
 deficiency, be imposed on the distillation and sale of domestic spirits. 
 
 In any event, a resort to loans, to the extent of the deficiency of the year 
 1821, will be indispensable. 
 
 Of the sum of $3,000,000, authorized by the act of the 15th of May last, 
 to be raised by loan, $2,000,000 have been obtained at a premium of two per 
 cent, upon stock bearing interest at the rate of six per cent, per annum, 
 redeemable at the will of the Government ; and $1,000,000 at par, upon 
 stock bearing interest at the rate of five per cent, per annum, redeemable at 
 any time after the 1st day of January, 1832. There is no just reason to 
 doubt that any sum which may be necessary to be raised by loan, can be 
 dbtamed upon terms not less favorable ; but as it is probable that the surplus 
 
 the revenue, after satisfying all the demands upon the Treasury, author- 
 ized by existing loans, during the years 1822, 1823, and 1824, will be equal 
 
 the rederhpticn of any debt which may be contracted in 1821, it is re- 
 Uly subrtvitte^ that the President of the United States be authorized 
 orrow, trom ib e Bank of the United States, or from other banks, or in- 
 uals, the sum vhich may be necessary for the service of that year, at 
 P a [' a ?., at a .^te of intent not exceeding six per cent, per annum, redeem- 
 
 ., . 
 able at the will of the . 
 
 All which is respectfully subirjitted. 
 
 , WM. H. CRAWFORD. 
 
 TREASURY DEPARTMENT, December 1, 1820.
 
 1820.] 
 
 SECRETARY OF THE TREASURY. 
 
 179 
 
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 180 
 
 REPORTS OF THE 
 STATEMENT A Continued. 
 
 [1820. 
 
 .1 STATEMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1819, 
 (consisting of the difference between articles paying duty, imported, and 
 those entitled to draicback, re-exported:} and, also, of the nett revenue 
 which accrued, that year, from duties on merchandise, tonnage, pass- 
 ports, and clearances. 
 
 MERCHANDISE PAYING DITTIES AD VALOREM. 
 
 SI , 679 , 284 at 7J per cent. - 
 13,971,593 15 do. - 
 5,979,736 20 do. .... 
 16,355,698 25 do. 
 11,215 27i do. 
 1,882,399 30 do. 
 5,542 32J do. - 
 
 $125,946 28 
 2,095,738 95 
 1,195,947 23 
 4,088,924 43 
 3,084 12 
 564,719 79 
 1,801 05 
 
 $8,076,161 85 
 9,631,738 69 
 
 39,885,467 
 
 - 506,836 60 
 - 1,959,125 12 
 - 595,536 45 
 - 1,737,450 09 
 - 1,041,293 45 
 - 2,181,703 29 
 - 595,17240 
 - 1,014,621 29 
 
 1. Wines. 1,235,266 gallons, at 40.37 cents, average, 
 2. Spirits, 4,477,628 do. 43.75 do. 
 Molasses, 11,910,729 do. 5 
 3. Teas, 5,480,884 pounds, 31.70 do. 
 Coffee, 20,825,869 do. 5 
 4. Sugar, 71,665,401 do. 3.04 do. 
 5. Salt, 2,975,862 bushels, 20 
 6. All other articles 
 
 Deduct duties refunded, after deducting therefrom duties on merchandise, 
 the particulars of which could not be ascertained, and difference in calcu- 
 lation -------- 
 
 17,707,900 54 
 112,992 25 
 
 Two and a half per cent, retained on drawback - $92,711 77 
 Extra duty of ten per cent, on merchandise imported in foreign 
 
 vessels - .... 50,505 22 
 
 Interest and storage ... . 21,64557 
 
 Nett amount of duties on merchandise ------ 
 
 Duties on tonnage - - - 109,782 95 
 
 Light money - ... 21,434 56 
 
 Passports and clearances - - - - - - 
 
 Gross revenue ---..-... 
 Deduct expenses of collection --... 
 
 Nett revenue, per statement A ---..-- 
 
 17,594,908 29 
 
 164,862 5G 
 17,759,770 85 
 
 131,217 51 
 
 8,640 00 
 
 17,899,628 36 
 782,925 40 
 
 17,116,702 96
 
 1820.] 
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes. 
 
 181 
 
 1. 
 
 a 
 
 3. 
 
 4. 
 
 5. 
 
 Wines- 
 Madeira 
 Burgundy, Champagne, &c, 
 Claret, in bottles 
 Claret, in battles 
 Sherry and St. Lucar, &c. - 
 Lisbon, Oporto, &c. 
 Teneritfe, Fayal, &c. 
 All other 
 All other 
 
 Spirits 
 Grain, 1st proof 
 2d do. - 
 4th do. 
 5th do. 
 Other, 1st &2d do. 
 3d do. 
 4th do. 
 5th do. 
 Above 5th do. 
 
 Teas 
 Bohea ... 
 Souchong 
 Imperial 
 Hyson and young hyson 
 Hyson skin and other green 
 
 Deduct exportation over im- 
 portation hyson 
 
 Add extra duty on teas im- 
 ported from other places 
 than China 
 
 Sugar 
 Brown - 
 White 
 
 188,267 gallons, at 
 5,797 do. 
 21,761 do. 
 23,503 do. 
 21,468 do. 
 128,494 do. 
 278,318 do. 
 138,853 do. 
 448,805 do. 
 
 100 cents 
 100 do. 
 70 do. 
 30 do. 
 60 do. 
 50 do. 
 40 do. 
 25 do. 
 15 do. 
 
 42 cents 
 45 do. 
 52 do. 
 60 do. 
 38 do. 
 42 do. 
 48 do. 
 57 do. 
 70 do. 
 
 12 cents 
 25 do. 
 50 do. 
 40 do. 
 28 do. 
 
 56 do. 
 
 3 cents 
 4 do. 
 
 20 cents 
 20 csnts 
 
 $188,257 
 5,797 00 
 15,232 70 
 7,050 90 
 12,880 80 
 64,247 00 
 111,327 20 
 34,713 25 
 67,320 75 
 
 1,255,266 do. - 
 
 506,836 60 
 
 483,032 gallons, at 
 42,377 do. 
 5,714 do. 
 5,907 do. 
 644,685 do. 
 1,623,431 do. 
 1,663,986 do. 
 6,237 do. 
 2,256 do. 
 
 202,873 44 
 19,066 05 
 2,971 28 
 3,544 20 
 244,980 30 
 681,842 28 
 798,713 28 
 3,555 09 
 1,579 20 
 
 4,477,628 do. - 
 
 1,959,125 12 
 
 261,700 pounds, at 
 1,382,633 do.. 
 235,089 do. 
 1,958,067 do. 
 1,646,231 do. 
 
 31 ,404 00 
 345,658 25 
 117,544 50 
 
 783,226 80 
 460,944 68 
 
 5,483,720 do. - 
 2,836 do. 
 
 1,738,778 23 
 1,588 16 
 
 5,480,884 do. - 
 
 1,737,190 07 
 260 02 
 
 5,480,884 do. - 
 
 1,737,450 09 
 
 68,491,275 pounds, at 
 3,174,126 do. 
 
 2,054,738 25 
 126,965 04 
 
 71,665,401 do. - 
 
 2,181,703 27 
 
 Salt- 
 Imported, bushels 
 Exported - \ > - 
 Bounties and allowances 
 reduced into bushels 
 
 i> 3,823,410 at 
 12,048 
 
 835,500 
 
 817 548 at 
 
 764,682 00 
 169,509 60 
 
 
 2,975,862 
 
 595,172 40 
 
 * ' Jfc' ' 
 It
 
 REPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 [1820, 
 
 6. All other articles, viz : 
 
 (Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duty. 
 
 Duck, Russia I *'. 
 
 _ 
 
 pieces 
 
 15,531 
 
 Cents. 
 200 
 
 $31,062 00- 
 
 Ravens 
 
 . 
 
 do. 
 
 13,051 
 
 125 
 
 16,313 75 
 
 Holland 
 
 - 
 
 do. 
 
 1,555 
 
 160 
 
 3,887 50 
 
 Sheeting, brown Russia 
 
 - 
 
 do. 
 
 3,861 
 
 250 
 
 6,177 60 
 
 white do. 
 
 - 
 
 do. 
 
 175 
 
 250 
 
 437 50 
 
 Beer, ale, a,nd porter, in bottles 
 
 - 
 
 gallons 
 
 136,671 
 
 15 
 
 20,500 65 
 
 in casks 
 
 - 
 
 do. 
 
 15,552 
 
 10 
 
 1,555 20 
 
 Oil, spermaceti 
 
 . 
 
 do. 
 
 3 
 
 25 
 
 75 
 
 whale and other fish 
 
 . 
 
 do. 
 
 1,114 
 
 15 
 
 167 10 
 
 olive - 
 
 . 
 
 do. 
 
 16,796 
 
 25 
 
 4,199 00 
 
 Cocoa ... 
 
 . 
 
 pounds 
 
 643,315 
 
 2 
 
 12,866 30 
 
 Chocolate ... 
 
 . 
 
 do. 
 
 4,053 
 
 3 
 
 121 59 
 
 Sugar, candy - 
 
 _ 
 
 do. 
 
 3,206 
 
 12 
 
 384 72 
 
 loaf 
 
 . 
 
 do. 
 
 2,082 
 
 12 
 
 249 84 
 
 other refined, and lump 
 
 . 
 
 do. 
 
 956 
 
 10 
 
 95 60 
 
 Almonds 
 
 . 
 
 do. 
 
 634,561 
 
 3 
 
 19,036 83 
 
 Fruits, currants 
 
 
 
 do. 
 
 167,488 
 
 3 
 
 5,024 64 
 
 prunes and plums 
 
 . 
 
 do. 
 
 323,401 
 
 3 
 
 9,702 03 
 
 figs - 
 
 - 
 
 do. 
 
 319,671 
 
 3 
 
 9,590 13 
 
 raisins, muscatel 
 
 _ 
 
 do. 
 
 912,358 
 
 3 
 
 27,370 74 
 
 other - 
 
 . 
 
 do. 
 
 1,625,448 
 
 2 
 
 32,508 96 
 
 Candles, tallow 
 
 - 
 
 do. 
 
 4,186 
 
 3 
 
 125 58 
 
 wax, or spermaceti 
 
 - 
 
 do. 
 
 441 
 
 6 
 
 26 46 
 
 Cheese ... 
 
 . 
 
 do. 
 
 79,423 
 
 9 
 
 7,148 07 
 
 Soap ... 
 
 - 
 
 do. 
 
 144,888 
 
 3 
 
 4,346 64 
 
 Tallow 
 
 . 
 
 do. 
 
 362,368 
 
 1 
 
 3,623 68 
 
 Spice, mace - 
 
 . 
 
 do. 
 
 7,232 
 
 100 
 
 7,232 00 
 
 nutmegs 
 
 - 
 
 do. 
 
 30,516 
 
 60 
 
 18,309 60 
 
 cinnamon - 
 
 - 
 
 do. 
 
 4,338 
 
 25 
 
 1,084 50 
 
 cloves 
 
 . 
 
 do. 
 
 21,907 
 
 25 
 
 5,476 75 
 
 pepper 
 
 . 
 
 do. 
 
 591,442 
 
 8 
 
 47,315 36 
 
 pimento 
 
 . 
 
 do. 
 
 233,720 
 
 6 
 
 14,023 20 
 
 cassia ... 
 
 . 
 
 do. 
 
 250,871 
 
 6 
 
 15,052 26 
 
 Tobacco, manufactured, other than snuff, &c. 
 
 do. 
 
 3,297 
 
 10 
 
 329 70 
 
 SnufF ... 
 
 . 
 
 do. 
 
 55,292 
 
 12 
 
 6,635 04 
 
 Indigo ... 
 Gunpowder 
 
 T> * fl 
 
 - 
 
 do. 
 do. 
 
 313,958 
 10,515 
 
 15 
 
 8 
 
 47,093 65 
 841 20 
 
 Bristles ... 
 
 . 
 
 do. 
 
 42,430 
 
 3 
 
 1,272 90 
 
 Glue ... 
 Paints, ochre, dry ... 
 
 - 
 
 do. 
 do. 
 
 45,920 
 378,349 
 
 5 
 1 
 
 2,296 00 
 3,783 49 
 
 ochre, in oil - 
 white and red lead - 
 white and red lead - 
 
 : 
 
 do. 
 do. 
 do 
 
 51,758 
 1,624,172 
 25 
 
 li 
 3 
 
 
 
 776 37 
 48,725 16 
 50 
 
 whiting, and Paris white 
 Lead, bar and sheet - 
 manufactures of, and shot 
 Cordage, tarred, and cables 
 
 - 
 
 do. 
 do. 
 do. 
 do. 
 
 139,507 
 770,742 
 1,112,179 
 14,430 
 
 
 1 
 1 
 2 
 3 
 
 1,395 07 
 7,707 42 
 22,243 48 
 432 90 
 
 untarred, and yarn 
 
 . 
 
 do. 
 
 48,637 
 
 4 
 
 1,945 48 
 
 twine, seines, &c. 
 Copper, rods and bolts 
 nails and spikes - 
 Wire, iron and steel, not above No. 18 
 iron and steel, above No. 18 
 Iron tacks, brads, &c. not above 16 oz. per M 
 tacks, brads, &c. above 16 oz. 
 
 do. 
 do. 
 do. 
 do. 
 do. 
 do. 
 do. 
 
 377,495 
 71,859 
 19,186 
 297,032 
 12,445 
 19,381 
 1,752 
 
 4 
 4 
 4 
 5 
 9 
 5 
 4 
 
 15,099 80 
 2,874 36 
 767 44 
 14,851 60 
 1,120 05 
 969 05 
 70 08 
 
 nails .... 
 
 . 
 
 do. 
 
 364,563 
 
 4 
 
 14,582 52 
 
 spikes - ... 
 spikes .... 
 anchors .... 
 
 - 
 
 do. 
 do. 
 do. 
 
 165,026 
 653 
 205,370 
 
 3 
 
 2 
 2 
 
 4,950 78 
 13 06 
 4,107 40
 
 1820.] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 183 
 
 6. All other articles continued. 
 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duty. 
 
 
 
 
 Cents. 
 
 
 Iron, pig - 
 
 cwt. 
 
 6,634 
 
 50 
 
 S3, 317 00 
 
 castings 
 
 do. 
 
 19,099 
 
 75 
 
 14,324 25 
 
 bar and bolt, rolled 
 
 do. 
 
 51,290 
 
 150 
 
 70,935 00 
 
 hammered - 
 
 do. 
 
 324,832 
 
 75 
 
 243,624 OD 
 
 do. 
 
 do. 
 
 111 
 
 45 
 
 49 95 
 
 sheet, rod, and hoop 
 
 do. 
 
 18,315 
 
 250 
 
 45,787 50 
 
 Steel - - - - 
 
 do. 
 
 8,461 
 
 100 
 
 8,461 00 
 
 Hemp - - - - 
 
 do. 
 
 51,157 
 
 150 
 
 76,735 50 
 
 Alum ... 
 
 do. 
 
 2,561 
 
 200 
 
 5,1-21 87 
 
 Copperas - 
 
 do. 
 
 21 
 
 100 
 
 21 00 
 
 Coal ----- 
 
 - bushels 
 
 737,077 
 
 5 
 
 39,353 85 
 
 Fish, dried or smoked - 
 
 - quintals 
 
 586 
 
 100 
 
 586 00 
 
 salmon, pickled - 
 
 - barrels 
 
 1,606 
 
 200 
 
 3,212 00 
 
 mackerel - 
 
 do. 
 
 1,169 
 
 150 
 
 1,753 50 
 
 other - 
 
 do. 
 
 283 
 
 roo 
 
 283 00 
 
 Glass, bottles, black quart 
 
 - gross 
 
 13,184 
 
 144 
 
 18,984 96 
 
 window, not above 8 by 10 
 
 -100 sq.ft. 
 
 5,576 
 
 250 
 
 13,940 00 
 
 10 by 12 
 
 do. 
 
 2,993 
 
 275 
 
 8,231 75 
 
 above 10 by 12 
 
 do. 
 
 3,842 
 
 325 
 
 12,486 50 
 
 Boots ----- 
 
 pairs 
 
 1,569 
 
 150 
 
 2,353 50 
 
 Shoes and slippers, silk - 
 
 - do. 
 
 4,653 
 
 30 
 
 1,395 90 
 
 leather, men's, &c. 
 
 - do. 
 
 31,106 
 
 25 
 
 7,776 50 
 
 children's - 
 
 do. 
 
 8,432 
 
 15 
 
 1.26-1 80 
 
 Segars - - - - - 
 
 M. 
 
 11,451 
 
 250 
 
 28,627 50 
 
 Cards - 
 
 packs 
 
 5,425 
 
 30 
 
 1,627 50 
 
 
 
 
 
 1,146,137 36 
 
 Deduct excess of exportations over importations, viz : 
 On cotton, 4,33-2,757 pounds, at 3 cents 
 
 $131,482 71 
 
 
 
 nails, 1,112 pounds, at 3 cents - 
 
 - 
 
 33 36 
 
 
 
 
 
 
 
 131 516 07 
 
 
 
 
 
 
 81,014,621 29 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 11, 1820. 
 
 JOSEPH NOURSE, Register.
 
 184 
 
 REPORTS OF THE 
 B. 
 
 [1820. 
 
 STATEMENT of moneys received into the Treasury, from internal 
 duties and other objects, during the year 1819. 
 
 From arrears of internal duties, (new) 
 new direct tax 
 
 old internal duties - - $2,149 62 
 
 old direct tax - 2 ; 800 17 
 
 postages of letters 71 32 
 
 fees on letters patent - - 3,060 00 
 
 cents and half cents coined at the mint 38,535 00 
 fines, penalties, and forfeitures - - 2,120 89 
 
 nett proceeds of prizes captured by pub- 
 lic armed vessels - 8 52 
 sale of vessels on Lake Champlain - 7,601 00 
 surplus proceeds of property sold for di- 
 rect tax of 1815 125 40 
 surplus proceeds of property sold for di- 
 rect tax of 1816 - 2,558 58 
 interest on balances due by banks to the 
 
 United States - 2,249 83 
 
 first instalment payable by the Bank of the United 
 
 States 
 dividend on stock in the Bank of the United States 
 
 $227,444 01 
 80,850 61 
 
 61,280 33 
 
 500,000 00 
 175,000 00 
 
 $1,044,574 95 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1820. 
 
 JOSEPH NOURSE, Register.
 
 1820.1 
 
 SECRETARY OF THE TREASURY. 
 
 185 
 
 No. 1. 
 STATEMENT of the debt of the United States, 1st October, 1819. 
 
 Deferred six per cent, stock, (unredeemed 
 
 amount) 
 Three per cent. do. 
 
 Louisiana six per cent. do. 
 Six per cent, of 1796 do. 
 Exchanged 6 per cent. do. 
 
 Six per cent, stock of 1812, (loan of 11 
 
 millions) 
 Six per cent, stock of 1813. (loan of 16 
 
 millions) 
 Six per cent, stock of 1813, (loan of 7^ 
 
 millions) 
 Six per cent, stock of 1814, (loan of 25 
 
 and 3 millions) 
 Six per cent, stock of 1815, (loan of 
 
 $18,452,800) - 
 
 Treasury note six per cent, stock 
 Treasury note seven per cent, stock 
 Five per cent, stock, (subscription to Bank 
 
 United States) 
 
 $2,805,084 36 
 13,^95,915 44 
 
 4,818,279 92 
 80,000 00 
 
 2,668,974 99 
 $23,668,254 71 
 
 6,187,006 84 
 15,521,136 45 
 
 6,836,232 39 
 13,011,437 63 
 
 9.490,099 10 
 1,419,125 61 
 
 8,595,298 27 
 
 7,000,000 00 
 68,060,336 29 
 
 Amount 1st October, 1819, $91,728,591 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 10, 1820. 
 
 JOSEPH NOURSE, Register. 
 
 
 
 

 
 186 REPORTS OF THE [1820. 
 
 No. 2. 
 
 STA TEMENT of the debt of the United States, on the 1st of January, 
 
 1820. 
 
 Deferred six per cent, stock, (unredeemed 
 
 amount) - $2,563,020 89 
 
 Three per cent stock - - 13,295,915 44 
 
 Louisiana six per cent, stock - - 2,216,408 78 
 
 Six per cent, stock of 1796 - 80,000 00 
 
 Exchanged six per cent, stock of 1812 - 2,668,974 99 
 
 $20,824,320 10 
 
 Six per cent, stock of 1812, loan of 11 
 
 millions - 6,187,006 84 
 Six per cent, stock of 1813, loan of 16 
 
 millions - 15,521,136 45 
 Six per cent, stock of 1813, loan of 1\ 
 
 millions 6,836,232 39 
 Six per cent, stock of 1814, loan of 25 
 
 and 3 millions - 13,011,437 63 
 
 Six per cent, stock of 1815 - 9,490,099 10 
 
 Treasury note six per cent, stock - 1,424,471 79 
 
 Treasury note seven per cent, stock - 8,604,629 27 
 Five per cent, stock, (subscription to 
 
 Bank United States) - - - . 7,000,000 00 
 
 68,075,013 47 
 
 Amount, 1st January, 1820 - $88,899,333 57 
 
 Unredeemed amount, 1st January, 1819 - 92,648,177 35 
 
 Add stock issued in 1819 : 
 
 Viz. 
 
 Three per cent, stock - - $304 68 
 
 Treasury note six per cent, stock, (see 
 
 a, No. 2 a) - 37,348 09 
 
 Treasury note seven per cent, stock, (see , 
 
 6, No. 2 a) - - - 13,160 00 
 
 50,812 77 
 
 $92,698,990 12 
 
 Deduct stock purchased and reimbursed 
 
 in 1819. Purchased as per statement 
 
 No. 4, accompanying the report of the 
 
 10th December, 1819 711,957 55 
 
 Reimbursed Louisiana stock on the 21st 
 
 October, 1819 - - - 2,601,871 14 
 
 Deferred stock in 1819 - - - 485,827 86 
 
 3.799,656 55 
 
 As above, 1st January, 1820 $88,899,333 57 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, NovemberW, 1820. 
 
 JOSEPH NOURSE, Register.
 
 1S20.] SECRETARY OF THE TREASURY. 187 
 
 No. 2 a. 
 
 STATEMENT exhibiting the total amount of the six and seven per 
 cent. Treasury note stocks, issued to the 31st December, 1819. 
 
 At what office issued. Six per cent. Seven per cent 
 
 Treasury - - 57,93852 - !t ... ~- : t * 201,55700 
 
 New Hampshire - - .^ 63,110 13 121,731 00 
 
 Massachusetts *,, - 504,859 82 - - 3,041,492 00 
 
 Rhode Island ifcfc 11,628 78 - 163,122 00 
 
 Connecticut - - 79,499 00 
 
 New York- - 359,74436 - ,yjy 4,726,989 00 
 
 Pennsylvania 701,447 00 
 
 Delaware - - 940 00 
 
 Maryland - J?U - 47,988 56 - ^ 17,140 00 
 
 Virginia - - - -i - ]> 866 
 
 North Carolina MI 8,75692 - ",'&.. 1,18000 
 
 South Carolina - v; < *-. 286,30692 ...-";. .., ~ 8,16600 
 
 Georgia - - 107,517 43 3,880 00 
 
 1,448,791 44 9,068,069 00 
 
 Deduct so much thereof in- 
 cluded in the statement of the 
 funded debt to 1st January, 
 1819 - - 1.411,443 35 - - 9,054,909 00 
 
 a $37,348 09 b $13,160 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 10, 1820. 
 
 JOSEPH NOURSE, Register.
 
 188 REPORTS OF THE [1820. 
 
 No. 3. 
 
 ESTIMA TE of the funded debt of the United States, 1st October, 1820. 
 
 Deferred stock, (unredeemed amount) $2,309.258 25 
 
 Three per cent. - - - 13,295,946 44 
 
 Louisiana - - - 2,216,408 78 
 
 Six per cent, of 1796 - 80,000 00 
 
 Exchanged six per cent, of 1812 - 2,668,974 99 
 
 $20,570,588 46 
 
 Six per cent.of 181 2,(loan of 11 millions) $6,187,006 84 
 
 Six per cent, of 1813, 16 do.- 15,521,13645 
 
 Six per cent, of 1813, 1\ do. - 6,836,232 39 
 
 Six per cent, of 1814, 25 & 3 do. - 13,011,437 63 
 
 Six per cent, of 1815, - 9,490,09910 
 
 Treasury note six per cent. - - 1,458,473 50 
 
 Treasury note seven per cent. - 8,605,116 27 
 Five per cent stock, (subscription to 
 
 Bank of United States) - 7,000,000 00 
 
 Six per cent, stock of 1820 - - 2,000,000 00 
 
 Five per cent, stock of 1820 - - 1,000,000 00 
 
 71,109,502 18 
 
 $91,680,090 64 
 
 Amount as stated 1st January. 1820 - $88,899,333 57 
 
 Add stock issued in the first three quarters of 1820 : 
 Three per cent, stock, for interest on old 
 
 registered debt $61 48 
 
 Treasury note six per cent, stock - - 34,001 71 
 
 Treasury note seven per cent, stock 487 00 
 
 $34,550 19 
 
 Loan, per act of 15th May, 
 1820, whereof at six per ct. $2,000,000 00 
 At five per cent. - 545,431 47 
 
 - -- 2,545,431 47 
 
 -- 2,579,981 66 
 
 $91,479,315 23 
 
 Deduct reimbursement of deferred stock $253,752 78 
 stock purchased, (a) 40 34 
 
 253,793 12 
 
 As above, 1st October, 1820 - - - -$91,225,52211 
 
 Add residue of loan of 15th May, 1820, at five per cent. 454,567 66 
 
 $91,680.089 77
 
 1820.] SECRETARY OF THE TREASURY. 189 
 
 D educt stock reimbursable in the fourth quarter of 1820 : 
 
 Residue of Louisiana six per cent., 
 21st October, 1820 - $2,216,408 78 
 
 Reimbursement of deferred stock - 249,444 16 
 
 $2,465,852 94 
 
 Amount, 1st January, 1821 $89.214,236 83 
 
 (a) Purchased of William Lyon, of Connecticut. $31 26, 
 
 deferred, at 31.542 per cent. - - $9 86 
 
 $46 89, three per cent, at 65 per cent. - 30 48 
 
 $40 34 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 10, 1820. 
 
 JOSEPH NOURSE. Register. 
 
 No. 4. 
 
 ESTIMATE of the, amount of Treasury notes outstanding. 1st Oc- 
 tober, 1820. 
 
 Total amount issued, (as per No. 5 of last report,) - $36,680,794 
 
 Whereof there has been reported on by the First Auditor, 
 as cancelled - $36.208,747 
 
 In his office, to be reported on : 
 Received for six per cent, stock, issued at the 
 
 Treasury, to 30th September, 1820 - $40,120 
 New Hampshire, 30th June, do. 2,220 
 
 Massachusetts, do. do. '>r> 104,020 
 
 Rhode Island, 31st March, 1819 3,280 
 
 New York, 30th June, 1820 - - 31,680 
 
 Maryland, 3lst March, 1819 - - 43,340 
 
 Virginia, 30th June, 1820 JOO 
 
 South Carolina, do. do. - 16,100 
 
 Georgia, 31st December, 1817 - - 98,000 
 
 $338 ; 860 
 
 Received for seven per cent, stock issued at 
 New York, to 30th June, 1820 2,348 
 
 South Carolina, 30th June, 1818 158 
 
 Georgia, 31st March, 1817 3,880 
 
 6,386 
 Redeemed by the Branch Bank at Richmond 40 
 
 345,286 
 
 In the Branch Bank at Washington; small notes to 
 the amount of - 2,101 
 
 Other notes, including interest $103,323 67 
 Deduct estimate for interest 6,323 67 
 
 97,000 
 
 In the Union Bank, New Hampshire, small notes 4 
 
 99,105
 
 190 REPORTS OF THE [1820. 
 
 Estimated balance outstanding 1st October, 1820 : 
 
 In small notes - $4,096 
 
 Others - - 23,560 
 
 $27,656 
 
 $36,680,794 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 10, 1820. 
 
 JOSEPH NOURSE, Register. 
 
 No. 5. 
 
 STA TEMENT of the stock issued under the act of Congress entitled 
 " An act supplementary to the act entitled An act for the indemnifica- 
 tion of certain claimants of public lands in the Mississippi Territory" 
 passed on the 3d of March, 1815. 
 
 Amount of claims awarded, per No. 6 of last report - $4,282,151 12^ 
 Amount of certificates issued, per do. $4,273,550 17^ 
 Amount of certificates issued since 5,814 01 
 
 Total issued 4.279,364 
 Amount of certificates to be issued 2,786 94 
 
 -- $4,282,151 
 
 Amount of certificates issued, brought down, $4,279,364 
 
 Amount paid in for lands, to the 30th September, 1819, 
 per statement C of last year - - $2,372.574 31^ 
 
 Amount paid in since 66,733 99| 
 
 Total paid in for lands to the 30th Sep- 
 tember, 1820 --- 2,439,308 31 
 
 Amount of sixty-six per cent., paid at the Treasury, on 
 $1,731,635 69, from the 15th May to 30th September, 
 1820 - ... 1,142,879 55 
 
 Outstanding, 30th September, 1820 : 
 
 This sum, upon which the 66 per cent. 
 has not been paid - $108,420 
 
 Thirty-four per cent, on $1,731,635 69 588,756 14 
 
 - 697,176 
 
 Amount issued, as above 4,279,364 
 Amount to be issued .,-^. 2,786 94 
 
 Total awards $4,282,151 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 10, 1820. 
 
 JOSEPH NOURSE, Register.
 
 1820.] 
 
 SECRETARY OF THE TREASURY. 
 
 191 
 
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 REPORTS OF THE 
 
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 198 REPORTS OF THE [1821. 
 
 REPORT ON THE FINANCES. 
 DECEMBER, 1821. 
 
 In obedience to the directions of the "Act supplementary to the act to 
 establish the Treasury Department," the, Secretary of the Treasury re- 
 spectfully submits the following report. 
 
 I. OF THE REVENUE. 
 
 The nett revenue arising from imports and tonnage, internal duties, 
 direct tax, public lands, postage, and other incidental receipts, during the 
 year 1818. amounted to - - $26,095,200 65 
 
 Viz. 
 
 Customs, (see statement A) - $21.828 f 451 48 
 
 Arrears of internal duties 947,946 33 
 
 Arrears of direct tax - 263,92601 
 
 Public lands, exclusive of Mississippi 
 
 stock ' - 2,464,52.7 90 
 
 Dividend on stock in the Bank of the 
 
 United States 525.000 00 
 
 Postage, and other incidental receipts - ^5,348 93 
 
 That which accrued from the same sources, during 
 the year 1819, amounted to - - 21,435,700 
 
 Viz. 
 
 Customs, (see statement A) - $17,116,702 96 
 
 Arrears of internal duties 227.444 01 
 
 Arrears of direct tax 80.850 61 
 
 Public lands, exclusive of Mississippi 
 
 stock , 3,274,422 78 
 
 First instalment from the Bank of the U. S., 
 
 and dividend on stock in that bank - 675,000 00 
 Postage, and other incidental receipts - 61,28033 
 
 And that which accrued from the same sources, during 
 the year 1820, amounted to - 15.284,546 29 
 
 Viz. 
 
 Customs, (see statement A) - $12,449,556 15 
 
 Arrears of internal duties, (see statement 
 
 B) - 104,172 07 
 
 Arrears of direct tax, (see statement B) - 31,286 82- 
 
 Public lands, exclusive of Mississippi 
 
 stock, (see statement C) ' .. 1,635,871 6 1 
 
 Second and third instalments from the 
 
 Bank of the United States - - 1,000,000 00
 
 1821.] SECRETARY OF THE TREASURY. 199 
 
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 Postage, and other incidental receipts, 
 (see statement B) $63,659 64 
 
 It is estimated that the 
 gross amount of duties 
 on merchandise and ton- 
 nage, which accrued du- 
 ring the tirst three quar- 
 ters of the present year, 
 exceeds - - $14,088,000 00 
 
 The payments into the Treasury to the 
 30th September last, have amounted to - $16,219,197 70 
 
 Customs' - $10.068,394.85 
 
 Public lands,exclusive 
 
 of Mississippi stock - 940,980 35 
 
 Arrears of internal du- 
 ties and direct tax - 69.867 26 
 
 Bank dividends - 105',000 00 
 
 Incidental receipts - 21,581 51 
 
 Repayments.- - 13,373 73 
 
 Loan - - 5,000,000. 00 
 
 And the payments into the Treasury, 
 during the fourth quarter are estimated at $3,595,278 14 
 Viz* 
 
 Customs' > - $3,000,00000 
 
 Public lands - 360,000 00 
 
 Moneys recovered out 
 of advances made in the 
 War Department, before 
 the 1st of July, 1815 - 120.000 00 
 
 Balances of military 
 appropriations carried to 
 the account of the sur- 
 plus fund 90,278 14 
 
 Direct tax and inter- 
 nal duties, and incidental 
 receipts .,.- 25,000 00 
 
 Making the total amount estimated to be received into 
 the Treasury during the year 1821 - $19,81 ',475 84 
 
 Which added to the balance in the Treasury on the 1st 
 January last, of - - 1,198,4^1 21 
 
 Make the aggregate amount of - $21.012,937 05 
 The application of, this sum for the year 1821, is esti- 
 mated as follows, viz : 
 
 The payments to the 30th September 
 have amounted to $15,655,288 47 
 
 Viz: 
 
 Civil, diplomatic, and 
 miscellaneous - - $1,772,717 30
 
 REPORTS OF THE [1821. 
 
 Military service,inclii- 
 ding fortifications, ord- 
 nance, Indian depart- 
 ment, revolutionary and 
 military pensions, arm- 
 ing 1 the miiuia, and ar- 
 rearages prior to the 1st 
 of January, 1817 - $4,872,865 78 
 
 Naval service, includ- 
 ing the gradual increase 
 of the navy - - 2,603,59275 
 
 Public debt, including 
 $591,611 30 of Missis- 
 sippi stock - 6,406,112 64 
 
 f 
 
 During the fourth quarter it is esti- 
 mated that the payments will amount to - $3,580,000 00 
 Viz: 
 
 Civil, diplomatic, and 
 miscellaneous - - $690,000 00 
 
 Military service 290,000 00 
 
 Naval service 700,000 00 
 
 Public debt - - 1,900.000 00 
 
 Making the aggregate amount of - $19,235,288 47 
 
 Which being deducted from the above sum of 
 $21,012,937 05, will leave in the Treasury on the 1st day 
 of January next, a balance estimated at - $1.777,648 58 
 
 But of the balances of appropriations for the service of the year 1821, 
 necessary to effect the object of those appropriations, exclusive of balances 
 which will not be required, and which have been deducted from the 
 estimates of the year 1822, or will be carried to the account of the surplus 
 fund, there remains the sum of $2,268.611 28, which is an existing charge 
 upon the revenue of 1821, and exceeds the balance estimated to be in the 
 Treasury, on the 1st day of January next, by $490,962 70. 
 
 II. OF THE PUBLIC DEBT. 
 
 The funded debt which was contracted before the year 
 1812, and which was unredeemed on the 30th of Septem- 
 ber, 1820, as appears by statement No. 1, amounted to - $20,570,627 12 
 
 And that contracted subsequently to the 1st of January, 
 1812, and unredeemed on the 30th of September, 1820, 
 amounted, as appears by the same statement, to - - 70.654,933 65 
 
 Making the aggregate amount of - $91,225,560 77 
 
 Which sum agrees with the amount stated in the last an- 
 nual report as unredeemed on the 1st of October, 1820, ex- 
 cepting the sum of $38 66, which was then short esti- 
 mated, and which has been since corrected by actual settle- 
 ment.
 
 1821.] 
 
 SECRETARY OF THE TREASURY. 201 
 
 $457,747 95 
 
 In the fourth quarter of the year there was added to the 
 above the sum of 
 Viz: 
 
 In 6 "and 7 per cent, stocks for Treasury notes brought 
 into the Treasury and cancelled - $3,280 ~29 
 
 In 5 per cent, stock, under the act of 
 May 15, 1820 - ^, 454,567 66 
 
 Making - 
 And there vvas paid in the fourth quarter the sum of - 
 
 Viz: 
 
 Deferred stock reimbursed - $249,401 58 
 
 Payments on accou-nt of the Louisiana > .- , 
 stock - - - - - 139,490 63 
 
 Making the public debt unredeemed on the 1st of Janua- 
 ry, 1821, as per statement No. 2 
 
 From the 1st of January, to the 30th of September, in- 
 clusive, there has been added the suai of - 
 Viz: 
 
 Three per cent, stock, for interest on re- 
 gistered debt $26 01 
 
 Treasury note 6 and 7 per cent, stock 4,454 07 
 
 Loan authorized by act of 3d of March, 
 1821 - 4,735,296 30 
 
 Making 
 From which is to be deducted the sum of 
 
 Viz: 
 
 Reimbursement of deferred stock during 
 the same period - $276,73715 
 
 Payments on account of Louisiana stock 2,071,360 00 
 
 Making the public debt which was unredeemed on the 
 1st of October, 1821, as per estimate No. 3 
 
 To which will be added, in the fourth quarter, Treasury 
 note 6 per cent, stock issued 
 
 Making 
 
 From which will be deducted, in the fourth quarter, the 
 sum of - - 
 
 Viz: 
 
 Reimbursement of deferred stock - $257,32226 
 Residue of Louisiana stock - - 5.558 15 
 
 Making the amount of the public debt unredeemed on 
 
 91,683,308 72 
 38.-.,892 21 
 
 91,294,416 51 
 4,739,776 38 
 
 96,034.192 89 
 2,348,097 15 
 
 93,686,095 74 
 390 40 
 
 93,686,486 14 
 262,880 41 
 
 the 1st of January, 1822, as estimated 
 
 - $93,423,605 73 
 
 The Treasury notes yet outstanding are estimated, as 
 appears by estimate No. 4, at 
 
 $28,495 00 
 
 The awards made by the commissioners appointed under the several acts 
 of Congress for the indemnification of certain claimants of public lands in 
 the Mississippi Territory, amount to - - $4,282,151 12
 
 REPORTS OF THE [1821 
 
 Of which there have been received at the General Land 
 
 Office, in stock - - $2,442,535 39 
 
 And there have been paid at the Treasury 1,734,490 85 
 
 Making together - $4,177,026 24 
 
 And leaving outstanding on the 30th of September, 1821, 
 as per statement No. 5 - - $105,124 88 
 
 III. OF THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURES 
 
 FOR THE YEAR 1822. 
 
 The diminution of the revenue from imports and tonnage, which occurred 
 in 1819, advanced with progressive force through 1820, and reached its 
 lowest point of depression in the first quarter of the present year. The 
 duties secured in that quarter were 727,000 dollars less than those of the 
 corresponding quarter of 1820 ; whilst the amount secured in the second and 
 third quarters exceeded that of the same period of the preceding year by 
 $1.172,000; thus presenting, on the 30th of September last, an aggregate ex- 
 cess of $445,000 for the first three quarters of 1821 ; which sum, there is just 
 reason to believe, will be considerably augmented at the end of the year. 
 
 Whilst the duties have progressively increased, the debentures chargeable 
 upon them have considerably diminished; the amount of debentures issued 
 from the 1st of January to 30th of September last being 952,000 dollars 
 less than was issued during the same period of the preceding year. 
 
 The same causes which, in 1819 and 1820, effected so great a reduction 
 of the revenue arising from imports and tonnage, were felt, in an equal de- 
 gree, in the sale of the public lands. Those who, from an anticipation of 
 thei r resources previously to those years, were unable topurchase foreign mer- 
 chandise, were equally incapable of purchasing public lands, or of discharg- 
 ing debts contracted with the Government by purchases antecedently made. 
 
 In the annual report of the Treasury at the commencement of the last 
 session of Congress, the receipts from the public lands for the year 1821 
 were estimated at 1.600.000 dollars, if no change should be made by law af- 
 fecting the obligations which the purchasers were then under to be punctual 
 in their payments. But, at the close of that session, an act was passed for 
 the relief of the purchasers of public lands, which so far impaired that ob- 
 ligation as to induce the Committee of Ways and Means to estimate the 
 proceeds of that source of revenue at only $800,000. It has been shown, 
 however, that the receipts to the 30th of September last have exceeded 
 940.000 dollars, and those of the whole year are now estimated at 
 1,300,000 dollars. 
 
 This result, in relation to the public lands, and the improvement which 
 has taken place in the revenue arising from imports and tonnage, indicate a 
 favorable change in the condition of the nation, from which a progressive 
 increase of the public revenue may be confidently anticipated. 
 
 Independently, however, of any such increase, the facts disclosed by the 
 
 fiscal operations of the year, some of which have been enumerated, warrant 
 
 the conclusion that the receipts of the year 1822 may be estimated 
 
 at . . - . ' . - $16,110,000 00 
 
 Viz: 
 
 Customs _w-ri< $14,000,000 00 
 
 Public lands - ' 1.609.000 00 
 
 Bank dividends 350.000 00
 
 1821.] SECRETARY OF THE TREASURY. 203 
 
 Arrears of direct tax and internal duties $75.000 00 
 
 Moneys recovered out of advances made 
 in the War Department before the 1st 
 of July, 1815 - 60,000 00 
 
 Incidental receipts 25,000 00 
 
 The expenditures of the year 1822 are estimated at $14.947,661 SO 
 Viz: 
 
 Civil, diplomatic, and miscellaneous $1,664,297 00 
 
 Public debt - 5,722,857 01 
 
 Military service, including fortifications, 
 ordnance, Indian department, revolu- 
 tionary and military pensions, arm- 
 ing the militia, and arrearages prior 
 to the 1st of January, 1817 - 5,108,097 52 
 
 Naval service, including the gradual in- 
 crease of the navy - - - 2,452,410 27 
 
 The receipts of the year will, therefore, exceed the esti- * 
 mated expenditure by i^oJj - $1,162,338 20 
 
 Which, after discharging the difference between the balance in the Trea- 
 sury on the 1st of January, 1822. and the balance of appropriations charge- 
 able upon it, will leave in the Treasury on the 1st of January, 1823. a bal- 
 ance estimated at $671,375 50. 
 
 It is, however, proper to state, that, in the estimate for the naval service, 
 only 200,000 dollars of the annual appropriation of 500,000 dollars, for the 
 gradual increase of the navy, is included; but that of the amount estimated 
 by the Secretary of War, a sum larger than the balance of that appropriation 
 is for arrearages for revolutionary pensions and the Indian department, 
 which will not be embraced in estimates for the year 1823. 
 
 The expenditure of the two succeeding years, it is believed, will not ex- 
 ceed that of the year 1822. unless a further expenditure shall, in the inter- 
 mediate time, be authorized by law. But in the expenditure of the year 
 1822. and also of 1823 and 1824, no part of the annual appropriation of 
 ,$10,000,000. constituting the sinking fund, is comprehended, except what 
 is necessary to discharge the interest of the public debt, and the reimburse- 
 ment of the 6 per cent, deferred stock. On the 1st of January, 1825, and 
 the three succeeding years, the debt contracted during the years 1812, 1813, 
 1814, and 1815, becomes redeemable at the will of the Government. These 
 sums greatly exceed the amount of the sinking fund applicable in those 
 years to the redemption of the public debt. As the current value of the five 
 per cent, stock, created during the last and present years, exceeds that of the 
 seven per cent, stock, and of the six per cent, stocks of 1812 and 1813, it is 
 presumed that the holders of those stocks will be disposed to exchange them 
 for an equal amount of five per cent, stock, redeemable at such periods as to 
 give full operation to the sinking fund as at present constituted. Accord- 
 ing to this view of the subject, $24,000,000 of the stocks which will be re- 
 deemable in the years 1825 and 1826 may be exchanged for five per cent, 
 stock, redeemable, one-third on the 1st of January, 1831, and one-third on 
 the same days of 1832 and 1833. This exchange of six per cent, stock, 
 if effected on the 1st of January, 1823, will produce an annual reduction of 
 ,icV;I ; (!l T^C'v^-MA f : ;-'Vv:v :j
 
 204 REPORTS OF THE [1821. 
 
 the interest of the public debt, from that time to the first mentioned period, 
 of $'MO,000, and an aggregate saving, through the whole period, of 
 $2,160,000. If the whole of the seven per cent, stock should be exchanged, 
 the saving will be considerably increased. 
 
 If such an exchange of stock should be deemed inexpedient or impracti- 
 cable, a saving of equal, if not greater extent, may be effected in the years 
 1825, 1826, 1827, and 1828, by borrowing at the rate of five per cent., in 
 the first and each successive year, a sum equal to the difference between the 
 amount redeemable, and that portion of the sinking fund applicable to its re- 
 demption: the five per cent, stock, so created, to be redeemable at such pe- 
 riods as to give full operation to the sinking fund, until the whole of the 
 public debt shall be redeemed. If the five per cent, stock shall, during 
 those years, be above par, a saving beyond that proposed to be effected by 
 the exchange of stock in 1822 will be secured, to the extent of that dif- 
 ference, by the latter process. 
 
 But it is possible that the progressive increase of the revenue which has 
 been anticipated, and which is necessary to the full operation of the sinking 
 fund, may not be realized. In that event, the public expenditure authorized 
 by law may, after the 1st of January, 1825, exceed the public revenue. 
 
 The remedy in such case must be 1st, an increase of the public revenue, 
 by an addition to the existing impositions; or, 2d, a reduction of the sinking 
 fund. 
 
 1 A general revision and correction of the duties imposed upon foreign 
 merchandise seem to be required. Many of the articles which pay but fif- 
 teen per cent, ad valorem, ought, in justice as well as policy, to be placed 
 at twenty-five per cent.; which is the duty paid upon the principal articles 
 of woollen and cotton manufactures. The same observation is applicable to 
 some of the articles which pay twenty per cent, ad valorem. A correction 
 of the existing duties, with a view to an increase of the public revenue, could 
 hardly fail to effect that object to the extent of nearly $1,000,000 annually. 
 It is highly probable, however, that an increase of duty on some of those 
 articles might eventually cause a reduction of the revenue; but this can only 
 take place where similar articles are manufactured in the country. In that 
 event, domestic manufactures will have been fostered, and the general abil- 
 ity of the community to contribute to the public exigencies will have been 
 proportionably increased. 
 
 2. If it should be deemed expedient to reduce the sinking fund, in pre- 
 ference to the imposition of additional duties, it may be satisfactory to know 
 that an annual appropriation for that object, of $8,000,000, commencing on 
 the 1st of January, 1825, will extinguish the whole of the public debt, exclu- 
 sive of the three per cent, stock, in the year 1839. Should the sinking fund 
 be reduced to $8,000,000, an exchange of $36,000,000 of six per' cent, 
 for five per cent, stock may be effected, in the course of the year^ 1 822, if 
 the present price of the latter stock should continue ; without diminishing, in 
 any degree, the operation of that fund in the redemption of the public debt. 
 Such an exchange would reduce the interest annually 360,000 dollars. 
 
 The loan of 5,000,000 dollars, which was authorized by the act of the 3d 
 of March, 1821, has been obtained at an average premium of nearly 5.59 
 per cent., upon the issue of five per cent, stock, redeemable at the will of the 
 Government after the 1st of January, 1835. 
 
 All which is respectfully submitted. 
 
 WM. H. CRAWFORD. 
 TREASURY DEPARTMENT, December 10, 1821.
 
 1821.] 
 
 SECRETARY OF THE TREASURY. 
 
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 206 
 
 REPORTS OF THE 
 STATEMENT A Continued. 
 
 [1821. 
 
 A STA T.EMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1820; 
 (consisting of the difference between articles paying duty, imported, and 
 those entitled to drawback, re-exported;} and, also, of the nett revenue 
 which accrued, that year, from duties on merchandise, tonnage, pass- 
 ports, and clearances. 
 
 MERCHANDISE PAYING DUTIES AD VALOREM. 
 
 $509,237 at 7| per cent. - .... 
 9,407,288 15 do. 
 2,400,789 20 do. 
 8,980,075 25 do. 
 831,038 30 do. - - -. 
 
 $35,360 48 
 1,411,093 20 
 480,157 80 
 2,245,018 75 
 249,329 40 
 
 $4, 420, 959 63 
 8,517,551 10 
 
 22,128,487 
 
 27.96 cents average 
 44 do. 
 5 do. 
 32.06 do. do. 
 5 do. 
 3.06 do. do. 
 20 do. 
 
 4,420,959 63 
 
 1. Wines 1,754,322 gallons, at 
 2. Spirits 3,928,996 do. 
 Molasses 10,786,905 do. 
 3. Teas 4,891,447 pounds 
 Coffee 13, -391, 857 do. 
 4. Sugar 51,537,888 do. 
 5. Salt 4,019,569 bushels 
 G. All other articles 
 
 490,573 50 
 1,728,565 81 
 539,345 25 
 1,568,414 32 
 664,592 85 
 1,575,345 23 
 803,913 80 
 1,146,800 34 
 
 Deduct duties refunded, after deducting therefrom duties on merchandise, the 
 particulars of v/hich could not be ascertained, and difference in calculation 
 
 Two and a half per cent, retained on drawback - $91 ,602 33 
 Ten per cent, extra duty on merchandise imported in foreign 
 vessels - - 34,542 20 
 Interest and storage - 29,85297 
 
 12,938,510 73 
 57,086 04 
 
 12,881,424 69 
 155,997 50 
 
 Nett duties on merchandise 
 Duties on tonnage 
 Light money 
 
 Passports and clearances 
 
 Gross revenue 
 Deduct expenses of collection 
 
 Nett revenue, per statement A - 
 
 " " 
 
 155,021 16 
 13,806 80 
 
 13,037,422 19 
 
 168,827 96 
 10,528 00 
 
 - 
 
 13,216,778 15 
 767,222 00 
 
 12,449,556 15
 
 1821.] 
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes. 
 
 207 
 
 1. Wines 
 Madeira - , '-" , 
 Burgundy, &c. 
 Sherry and St. Lucar 
 Lisbon and Oporto, &c. - 
 Teneriffe, Fayal, &c. 
 Claret, &c., in bottles, &c., 
 All other - i"?-( 
 Do. '.-4 f'-.pH 
 
 2. Spirits- 
 Grain. 1st proof - . #-' 
 2d do. - 
 3d do. - 
 4th do. - 
 5th do. - 
 Other, 2d do. - 
 3d do. - 
 4th do. - 
 5th do. - () J - , 
 
 3. Teas 
 Bohea ;- i',' 
 Souchong - 
 Hyson skin, &c. - 
 Hyson and young hyson - 
 Imperial 
 
 Extra duty en teas imported 
 from other places than China 
 
 4. Sugar- 
 Brown, &c. 
 White, clayed 
 
 
 
 5. Salt 
 Iraported - - bushels 
 Exported - - bushels- 
 Bounties and allowances re- 
 duced into bushels, at 20 
 cents 
 
 96,927 gallons, at 100 cents - 
 7,853 do. at 100 do. - 
 6,615 do. at 60 do, - 
 193,908 do. at 50 do. - 
 248,805 do. at 40 do. - 
 35,112 do. at 30 do." - 
 1,164,711 do. at 15 do. - 
 361 do. at 25 do. - . - 
 
 fa ' $96,9-27 00 
 7,b53 00 
 3,987 00 
 96,951 00 
 99,522 00 
 10,633 60 
 174,706 65 
 90 25 
 
 1,754,322 do. 
 
 490,573 50 
 
 363,189 do. at 42 do. - 
 49,477 do. at 45 do. - 
 2,628 do. at 48 do. - 
 1,539 do. at 52 do. - 
 2,261 do. at 60 do. - 
 606,494 do. at 38 do. - 
 1,245,976 do. at 42 do. - .'- 
 1,646,338 do. at 48 do. - 
 11,094 do. at 57 do. - 
 do ' ' 
 
 152,539 38 
 22,264 65 
 1,261 44 
 800 -28 
 1,356 60 
 230,467 72 
 5-23,309 92 
 790,242 24 
 6,323 58 
 
 3,928,996 
 
 1,728,565 81 
 
 163, 226 pounds, at 12 do. - - 
 1,253,164 do. at 25 do. - -.*! 
 1,485,116 do. at 28 do. - 
 1, 757, 210 do. at 40 do. - 
 232,731 do. at 50 do. - 
 
 19,587 12 
 313,291 00 
 415,832 48 
 702,884 00 
 116,365 50 
 
 4,891,447 
 
 .*?* " r ' -,"' - , '- 
 
 1,567,950 10 
 454 22 
 
 4,891,447 do. 
 
 1,568,414 32 
 
 48,617,029 do. at 3 do. - 
 2,920,859 do. at 4 do. - 
 
 1,458,510 87 
 116,834 36 
 
 51,537,888 do. 
 
 1,575,345 23 
 
 i.S- . >-<r 5, 081, 716 at 20 cents 
 17,130 
 
 1,045,017 1,062, 147 at 20 do. 
 
 1,016,343 20 
 212,429 40 
 
 4, 019, 569 at 20 do. 
 
 803,913 80 
 
 
 -M -..,; 
 
 .Ofj 

 
 208 KEPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate o: 
 duty. 
 
 Duties. 
 
 Duck Russia 
 
 pieces 
 
 26,859 
 
 Cents. 
 200 
 
 $53,718 00 
 
 Ravens - 
 
 do. 
 
 16,185 
 
 125 
 
 20,231 25 
 
 Holland - - - - 
 
 do. 
 
 1,814 
 
 250 
 
 4,535 00 
 
 Sheeting brown, Russia 
 
 do. 
 
 14,738 
 
 160 
 
 23,580 80 
 
 white, Russia 
 
 do. 
 
 643 
 
 250 
 
 1,607 50 
 
 Beer, ale, and porter, in bottles 
 
 gallons 
 
 44,238 
 
 15 
 
 6,635 70 
 
 in casks 
 
 do. 
 
 13,52-3 
 
 10 
 
 1,352 20 
 
 Oil spermaceti 
 whale, and other fish - 
 
 do. 
 do. 
 
 7,901 
 473 
 
 25 
 15 
 
 1,975 25 
 70 95 
 
 olive, in casks - 
 
 do. 
 
 7,285 
 
 25 
 
 1,821 25 
 
 Cocoa 
 
 pounds 
 
 777,732 
 
 2 
 
 15,554 64 
 
 Chocolate 
 
 do. 
 
 2,029 
 
 3 
 
 60 87 
 
 Sugar, candy - - - 
 
 do. 
 
 3,347 
 
 12 
 
 401 6-1 
 
 loaf - - - 
 
 do. 
 
 898 
 
 12 
 
 107 76 
 
 other, refined and lump 
 
 do. 
 
 563 
 
 10 
 
 56 30 
 
 Fruits Almonds 
 
 do. 
 
 297,483 
 
 3 
 
 8,924 49 
 
 Currants 
 
 do. 
 
 120,008 
 
 3 
 
 3,600 24 
 
 Prunes and plums - 
 
 do. 
 
 114,543 
 
 3 
 
 3,436 29 
 
 Figs - 
 
 do. 
 
 278,400 
 
 3 
 
 8,352 00 
 
 Raisins, jar and muscatel - 
 
 do. 
 
 934,840 
 
 3 
 
 28,045 20 
 
 Raisins, all other 
 
 do. 
 
 1,030,108 
 
 2 
 
 20,602 16 
 
 Candles Tallow 
 
 do. 
 
 44,304 
 
 3 
 
 1,329 12 
 
 Wax and spermaceti 
 
 do. 
 
 1,045 
 
 6 
 
 62 70 
 
 Cheese - 
 
 do. 
 
 73>118 
 
 9 
 
 6,580 62 
 
 Soap - 
 
 do. 
 
 39,989 
 
 3 
 
 1,199 67 
 
 Tallow - - - 
 
 do. 
 
 1,886,722 
 
 1 
 
 18,867 22 
 
 Spices Mace 
 
 do. 
 
 330 
 
 100 
 
 330 00 
 
 Cloves - 
 
 do. 
 
 19,547 
 
 25 
 
 4,886 75 
 
 Pepper 
 
 do. 
 
 194,155 
 
 8 
 
 15,53-2 40 
 
 Pimento - ( - 
 
 do. 
 
 263,799 
 
 6 
 
 15,827 94 
 
 Cassia 
 
 do. 
 
 88,200 
 
 6 
 
 5,292 00 
 
 Tobacco, manufactured, &c. 
 
 do. 
 
 503 
 
 10 
 
 50 30 
 
 Indigo - - - - 
 
 do. 
 
 122,729 
 
 15 
 
 18,409 35 
 
 Gunpowder - 
 
 do. 
 
 59,912 
 
 8 
 
 4,792 96 
 
 Bristles - 
 
 do. 
 
 44,33!) 
 
 3 
 
 1,330 17 
 
 Glue 
 
 do. 
 
 54,647 
 
 5 
 
 2,732 35 
 
 Paints Ochre, dry - 
 
 do. 
 
 163,243 
 
 1 
 
 1,632 43 
 
 in oil 
 
 do. 
 
 34,232 
 
 U 
 
 513 48 
 
 White and red lead 
 
 do. 
 
 3,037,786 
 
 3 
 
 91,133 58 
 
 Whiting and Paris white - 
 
 do. 
 
 72,210 
 
 1 
 
 722 10 
 
 Lead, bar, pig, and sheet 
 
 do. 
 
 2,202,920 
 
 1 
 
 22,029 20 
 
 manufactured and shot 
 
 do. 
 
 2,055,478 
 
 2 
 
 41,109 56 
 
 Cordage, tarred, and cables - 
 
 do. 
 
 267,332 
 
 3 
 
 8,019 96 
 
 un tarred, and yarn 
 
 do. 
 
 246,321 
 
 4 
 
 9,852 84 
 
 twine and packthread - 
 
 do. 
 
 223,793 
 
 4 
 
 8,951 72 
 
 Copper and composition rods and bolts 
 
 do. 
 
 21,759 
 
 4 
 
 870 36 
 
 nails and spikes - 
 
 do. 
 
 13,186 
 
 4 
 
 527 44 
 
 Wire, iron and steel, not above No. 18 
 
 do. 
 
 120,284 
 
 5 
 
 6,014 20 
 
 above do. 
 
 do. 
 
 7,582 
 
 9 
 
 682 38 
 
 Iron tacks, brads, &c., not above 16 ounces 
 
 
 
 
 
 per - - 
 
 M. 
 
 22,009 
 
 5 
 
 1,100 45 
 
 tacks, brads, &c., above 16 ounces per - 
 
 do. 
 
 1,497 
 
 4 
 
 59 88 
 
 nails ..... 
 
 pounds 
 
 220,682 
 
 4 
 
 8,827 28 
 
 spikes ..... 
 
 do. 
 
 38,625 
 
 3 
 
 1,158 75 
 
 anchors - - - - 
 
 do. 
 
 79,252 
 
 2 
 
 1 ,585 04 
 
 pig - - 
 
 cwt. 
 
 6,584 
 
 50 
 
 3,292 00 
 
 castings - 
 
 do. 
 
 6,202 
 
 75 
 
 4,651 50 
 
 bar and bolt, rolled ... 
 
 do. 
 
 59,385 
 
 150 
 
 89,077 50
 
 1S21.] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 209 
 
 ' .\ ;'-'r>: 
 6 All other articles. 
 
 - 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 ' 
 
 
 
 * 
 
 
 Cents. 
 
 
 Iron bar and bolt, hammered 
 
 . 
 
 cwt. 
 
 389,797 
 
 75 
 
 $292,347 75 
 
 sheet, rod, and hoop 
 
 - 
 
 do. 
 
 12,5-20 
 
 250 
 
 31,300 00 
 
 Steel - |T| 
 
 . 
 
 do. 
 
 7,802 
 
 100 
 
 7,802 00 
 
 Hemp - - - 
 
 - 
 
 - - do. 
 
 93,707 
 
 150 
 
 140,560 50 
 
 Alum >- - - 
 
 . 
 
 ,. . do. 
 
 1,283 
 
 200 
 
 2,566 00 
 
 Copperas - ^ -" i ~- 
 
 
 do. 
 
 540 
 
 100 
 
 540 00 
 
 Coal - r X: '' - > 
 
 ;., 
 
 - bushels 
 
 673,711 
 
 5 
 
 33,685 55 
 
 Fish dried or smoked ' J ' - 
 
 - 
 
 - quintals 
 
 558 
 
 100 
 
 558 00 
 
 pickled salmon - j " - 
 mackerel T'- 
 
 * _^ '' t 
 
 _ 
 
 - barrels 
 do. 
 
 1,373 
 17 
 
 200 
 150 
 
 2,746 00 
 25 50 
 
 other - \ * - 
 
 - , ;f" 
 
 do. 
 
 219 
 
 100 
 
 219 00 
 
 Glass black quart bottles 
 
 - . - _ \ 
 
 - , gross 
 
 9,379 
 
 144 
 
 13,505 76 
 
 window, not above 8 by 
 
 10 inches 
 
 - 100 sq. ft. 
 
 2,825 
 
 250 
 
 7,062 50 
 
 ^ do. do. 10 by 
 
 1-2 do. 
 
 do. 
 
 1,158 
 
 275 
 
 3,184 50 
 
 do. above 10 by 
 
 12 do. 
 
 do. 
 
 2,288 
 
 325 
 
 7,436 00 
 
 Shoes silk 
 
 ' 
 
 pairs 
 
 475 
 
 30 
 
 142 50 
 
 leather, men's, &c. 
 
 _ju*. -= 
 
 do. 
 
 3,144 
 
 25 
 
 786 00 
 
 children's 
 
 ' ,-*! 
 
 do. 
 
 2,532 
 
 15 
 
 379 W) 
 
 Segars - - '- 
 
 ' >'*' 
 
 M. 
 
 5,364 
 
 250 
 
 13,410 00 
 
 Playing cards - ''*'/' '" 
 
 . 
 
 packs 
 
 2,113 
 
 30 
 
 633 90 
 
 
 2$i ,1'J v: 
 
 
 i 1^0 &n& an 
 
 . 
 
 Deduct excess of articles exported beyond the importations, viz : 
 
 Nutmegs - A ' 366 pounds, at 60 cents $219 60 
 
 Cinnamon - 6,328 do. at 25 do. 1,582 00 
 
 Snuff - - - 49,733 do. at 12 do. 5,967 96 
 
 Cotton - - 246,985 do. at 3 do. 7,409 55 
 
 Boots - 411 pairs, at 150 do. 616 50 
 
 15,795 61 
 
 1,146,800 34 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 1, 1821. 
 
 JOSEPH NOURSE, Register. 
 
 VOL. ii. 14
 
 REPORTS OF THE 
 
 [1821. 
 
 
 STATEMENT of moneys received into the Treasury, from internal 
 revenue and other objects, during the year 1820. 
 
 From arrears of internal duties (new) - 
 direct tax (do.). - 
 
 old internal duties 
 old direct tax 
 Postage of letters - 
 Fees on letters patent 
 
 Cents coined at the mint of the United States 
 Fines, penalties, and forfeitures - 
 
 , ' Nett proceeds of prizes captured by public' armed vessels 
 Returned passage money of an American seaman 
 Interest on balances due by banks to the United States - 
 Sale of public lots in the city of Washington 
 
 Second and third instalments payable by the ^an's of the 
 
 United States - - - - _ 
 
 $2,088 46 
 
 300 00 
 
 6,465 95 
 
 3,720 00 
 
 32,820 50 
 
 105 97 
 
 8,004 7G 
 
 10 00 
 
 144 00 
 
 10,000 00 
 
 $104, 
 31, 
 
 172 07 
 286 82 
 
 , 63,659 01 
 1,000,000 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 12, 1821. 
 
 JOSEPH BOURSE. Register. 
 
 vli :'
 
 1S21.J 
 
 SECRETARY OF THE TREASURY. 
 
 C. 
 
 STATEMENT of moneys received from Ihe sales of the public lands, 
 during the year 1820. 
 
 From Washington, Mississippi 
 Huntsville, Alabama 
 St. Stephen's, do. 
 Cahaba, 
 Cincinnati, 
 Chillicothe, 
 Zanesville, 
 Steubenville, 
 Wooster, 
 Marietta, 
 Delaware, 
 Piqua, 
 
 Jefferson ville. Indiana 
 Vincenues. do. 
 Brookville, do. 
 Shawneetown, Illinois 
 Kaskaskia, do. 
 Edwardsville, do. 
 Franklin, Missouri 
 St. Louis, do. 
 
 Detroit, Michigan 
 
 ,-> jv 
 
 
 do. 
 Ohio 
 do. 
 do. 
 do. 
 do. 
 do. 
 do. 
 do. 
 
 !Sl : ;.. 
 
 iyfr-K 
 
 teailoic. 
 
 
 $116.104 31 
 ?* 62,586 43 
 . . 70,308 25 
 
 - 298,130 97 
 
 - 133,694 55 
 
 36,689 62 
 
 - 71,106 22 
 42,143 41 
 60.912 09 
 12,795 38 
 
 .' : 37,819 35 
 3,100 00 
 
 - 148,832 26 
 133,6*10 80 
 
 - 117,980 36 
 
 37,782 53 
 67,073 34 
 29,499 28 
 89,075 59 
 59,569 91 
 7,056 96 
 
 $1,635,871 61 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 11, 1821. 
 
 JOSEPH INOURSE, Register. 
 "I' f SJ H^iti-v '
 
 212 REPORTS OF THE [1821. 
 
 No. 1. 
 STATEMENT of the debt of the United Slates, 1st October, 1320. 
 
 Deferred stock, (unredeemed amount) - $2,309,296 91 
 Three per cent. - - 13,295,94644 
 
 Louisiana - - 2,216,408 78 
 
 Six per cent, of 1796 - 80,000 00 
 
 Exchanged six per cent, of 1812 - 2,668,974 99 
 
 $20,570,627 12 
 
 Six per cent, of 1812, (loan of 11 millions) 6,187,006 84 
 Six per cent, of 1813, do. 16 do. 15.521,136 45 
 Six per cent, of 1813, do. 7^ do. 6,836,232 39 
 
 Six per cent, of 1814, do. 25 and3 mil. 13,011,437 63 
 Six per cent, of 1815, do. 18,482,500 9,490,09910 
 Treasury note 6 per cent, stock - - 1,458,473 50 
 
 Treasury note 7 per cent, stock - - 8,605,11627 
 
 Five per cent, stock, subscription to Bank 
 
 United States - - * - - - 7,000,000 00 
 
 Six per cent, stock of 1820 - - 2,000,000 00 
 
 Five per cent, stock of 1820 - - 545.431 47 
 
 70,654,933 65 
 
 91.225,560 77 
 
 Amount, as per the Secretary's report of last year - - - 91,225,522 11 
 
 Add this sum overestimated as reimbursement of deferred 
 stock, to 30th September, 1820 38 66 
 
 As above - $91,225,560 77 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 12, 1821. 
 
 JOSEPH NOURSE, Register.
 
 1821.] 
 
 SECRETARY OF THE TREASURY. 
 
 No. 2. 
 
 213 
 
 STATEMENT of the debt of the United States, January 1, 1821, 
 
 Deferred stock (unredeemed amount) - ... . $2,059,885 53 
 
 Three per cent, stock - - - - '''if 1 -13,295,93003 
 
 Six per cent, stock of 1796 - - i/itf.-,- - 80,00000 
 
 Exchanged six per cent, stock of 1812 - rtl *. -' 2,668,974 99 
 
 Louisiana six per cent, stock - '.\-V* '' - 2,076,918 15 
 
 Six per cent, stock of 1812, loan of 11 millions 
 Six per cent, stock of 1813, loan of 16 millions 
 Six per cent, stock of 1813, loan of 7 millions 
 Six per cent, stock of 1814, loan of 25 and 3 millions - 
 Six per cent, stock of 1815, loan of 818,482,500 ';&\ 
 Treasury note six per cent, stock - 
 
 Treasury note seven per cent, stock - - . - 
 
 Five per cent, stock, subscription to the Bank of the United 
 States - - - - , 
 
 Six per cent, stock of 1820, per act of May 15, 1820 - ' - 
 Five per cent, stock, per act of May 15, 1820 - !!*) \*. 
 
 $20,181,708 70 
 
 - 6,187,006 84 
 
 - 15,521,136 45 
 
 - 6,836,232 39 
 
 - 13,011,437 63 
 
 - 9,490,099 10 
 
 - 1,460,949 00 
 8,605,847 27 
 
 7,000,000 00 
 2,000,000 00 
 999,999 13 
 71,112,707 81 
 
 Amount on the 1st of January, 1821 - 
 
 Unredeemed amount on the 1st of October, 1820, per statement No. 1 
 Add stock issued in the fourth quarter of 1820, viz : 
 Treasury note six per cent, stack - r> T .1 T $2,44929 
 
 Treasury note seven per cent, stock '[?- 73100 
 
 Five per cent, stock, per act of May 15, 1820 - - 454,56766 
 
 Deduct reimbursement of deferred stock in same quarter 
 And payments on account of Louisiana stock - '' 
 
 As above - 
 
 249,401 58 
 139,490 63 
 
 $91,294,416 51 
 $91,225,560 77 
 
 457,747 95 
 91,683,308 72 
 
 388,892 21 
 $91,294,416 51 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 12, 1821. 
 
 JOSEPH NOURSE, Register. 
 
 
 JBC'Vi
 
 "f >!" 
 
 214 
 
 REPORTS OF THE 
 
 [1821. 
 
 $17,833,637 56 
 
 No, 3. 
 ESTIMATE of the funded debt of the United States, October 1, 1821. 
 
 Deferred stock, unredeemed amount - -$1.783,14838 
 
 Three per cent, stock, - - - - 13,395,956 04 
 
 Six per cent, stock of 1796, - - 80,000 00 
 
 Exchanged six per cent, stock of 1812, - - 2,668,974 99 
 
 Louisiana stock (amount unapplied for) 5,5.58 15 
 
 Six per cent, stock of 1812, Iqan of 11 millions '- 6,187,00684 
 
 Six per cent, stock of 1813, loan of 16 millions - 15,521,136 45 
 
 Six per cent, stock of 1813, loan of Ik millions - 6,836,232 39 
 
 Six per cent, stock of 1814, loan of 25 and 3 millions - - 13,011,437 63 
 
 Six per cent, stock of 1815, loan of $18,482,500 - 9,490,099 10 
 
 Treasury note six per cent, stock ' - 1,464,89507 
 
 Treasury note seven per cent, stock - - 8,606,355 27 
 
 Five per cent, stock, subscription to Bank of the United States 7,000,000 00 
 Six per cent, stock of 1820 - - 2,000,000 00 
 
 Five per cent, stock of 1820 - - - 999,999 13 
 
 Five per cent, stock, per act of March 3, 1821 - - 4,735.296 30 
 
 J75,8_52,458_:i8 
 
 $93,686^095 ~74 
 
 Amount, as stated, January 1, 1821 - - 
 
 Add stock issued in the first three quarters of 1821, viz : 
 Three per cent, stock, for interest on registered debt. . - - $26 01 
 Treasury note six per cent, stock - 3,946 07 
 
 Treasury note seven per cent, stock 508 00 
 
 $91,294,416 51 
 
 Loan, per act of the 3d of March, 1821 
 
 Deduct reimbursement of deferred stock 
 
 And payments on account of Louisiana stock - 
 
 4,480 08 
 (a), 4,735,296 30 
 
 275.737 15 
 - 2,07l',360 00 
 
 4,739,776 38 
 96,034,192 89 
 
 2,348,097 15 
 
 As above, October 1, 1821 
 
 Add Treasury note six per cent, stock, issued in the fourth quarter of 1821 - 
 
 Deduct estimated amount of payments in the fourth quarter of 1821, viz : 
 Reimbursement of deferred stock - - - $257,322 26 
 
 Residue of Louisiana stock 5,558 15 
 
 93,686.01)5 74 
 '390 40 
 
 93,686,486 14 
 
 '262,880 41 
 
 Estimated amount, January 1, 1822 
 
 $93,423,605 73 
 
 (a) Stock issued, and premium obtained therech, in pursuance of the act of March 3, 1821. 
 
 Where sold. 
 At Philadelphia - 
 Philadelphia - 
 New York - 
 Boston 
 Washington - 
 
 Arrtount of stock issued. 
 
 - $4,000,000 00 
 
 282,700 00 
 
 351,500 00 
 
 100,000 00 
 
 1,096 30 
 
 $4,735,296 30 
 264,703 70 
 
 Premium. 
 
 $205,880 00 
 
 22,616 00 
 
 28,120 00 
 
 8,000 00 
 
 87 70 
 
 $264,703 70 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 12, 1821. 
 
 JOSEPH NOURSE, Register
 
 1821.] SECRETARY OF THE TREASURY. 215 
 
 No. 4. 
 
 J&'11MATE of the amount of Treasury notes outstanding, 1st Novem- 
 
 ber, 1821. 
 
 Total amount issued, as per No. 4 of last report '*'* :) VV. $36,690.794 
 Cancelled and reported on by the First -Auditor $36,649,535 
 In his office, to be reported on, for six per cent. 
 Treasury note stock issued at the loan office 
 for New Hampshire $500 
 
 Massachusetts 700 
 
 New York > - '-3* 340 
 Virginia ' JS - '- 600 
 
 Jn the Register's office 400 
 
 2,540 
 
 In the branch bank at Washington, small notes 224 
 
 36,652,299 
 
 Outstanding 1st November, 1821 - - a 28,495 
 
 Of which appears to be in small notes $3,075 
 
 Notes bearing interest 25,420 
 
 .$28,495 
 
 
 
 a Note made by the First Auditof^_ 
 
 The balance estimated by Mr. Nourse as outstanding on the 
 
 1st November, 1820, is - $27,656 
 
 To which add amount estimated to be in the branch at Wash- 
 ington and the Union Bank of New Hampshire, after de- 
 ducting the estimated amount of interest thereon $99,105 
 
 Deduct the nett amount, exclusive of interest, ascer- 
 tained to be in the branch bank on the 2d De- 
 cember, 1820, per report No. 42,245 91,318 
 
 Difference arising from the interest being short estimated ~-^~ 7,787 
 
 ; o ^T^aM^i-AiaCT , 
 
 35,443 
 
 Deduct amount received since 1st November, 1820, at the 
 office of the First Auditor, at the branch bank, Washington, 
 and by the Register of the Treasury, for stock issued 6,948 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 12, 1821. 
 
 JOSEPH NOURSE, Register.
 
 216 REPORTS OF THE [1821. 
 
 No. 5. 
 
 STA TEMENT of the stock issued under the act of C ongress entitled 
 " An act supplementary to the act for the indemnification of certain 
 claimants of public lands in the Mississippi Territory" passed on the 
 3d March, 1815. 
 
 Amount of claims awarded, per statement No. 5 of last 
 report - a $4,282,151 12$ 
 
 Paid in for lands to the 30th September, 
 
 1820, per said statement - $2,439,308 31 
 
 Paid in since - - 3,227 08 
 
 2,442,535 39 
 
 Amount of payments made 
 at the Treasury, on ac-. 
 count of this stock, to the 
 30th September, 1820, as 
 per said statement $1,142,879 55 
 Amount of payments made 
 at the Treasury, on ac- 
 count of this stock, from 
 1st October, 1820, to the 
 30th September, 1821 591,611 30 
 
 1,734,490 85 
 
 4,177,026 24 
 
 Outstanding on the 1st October, 1821 j*Vr.i 105,124 88$ 
 
 
 
 $4,282,151 
 
 a Certificates issued for 
 Certificates to be issued 
 
 $4,282,151 
 
 - te'jiitvfej (hod;-. itt/i ?._;; .-rjjiii <}({> ja^ ===== 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 12, 1821. 
 
 10SEPH NOURSE, Register.
 
 1822.] SECRETARY OF THE TREASURY. 217 
 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1822. 
 
 In obedience to the directions of the " Act supplementary to the act to 
 establish the Treasury Department," the Secretary of the Treasury re- 
 spectfully submits the following report : 
 
 I. OF THE PUBLIC REVENUE AND EXPENDITURE OF THE YEARS 1821 
 
 AND 1822. 
 
 The nett revenue which accrued from duties on imports and tonnage, 
 during the year 1821, amounted (see statement A) to $15,898,434 42 
 
 The actual receipts into the Treasury, during the year 
 1821, including the loan of $5,000,000, amounted to - $19.573,703 72 
 Viz. 
 
 Customs, (see statement A) . - $13.004,447 15 
 
 Public lands, exclusive of Mississippi 
 stock, (see statement D) 1,212,966 46 
 
 Arrears of internal duties and direct 
 tax, dividend on stock in the Bank of the 
 United States, and other incidental re- 
 ceipts, (see statement E) 356,290 11 
 
 Loan authorized by act of the 3d of 
 March, 1821, including a premium of 
 $264,703 70, gained on the same, (see 
 statement E) - - - 5.000,000 00 
 
 Making, with the balance in the Treasury, on the 1st 
 of January, 1821, of - - ; - ..-- i*-^ 1,198,46121 
 
 An aggregate of - $20,772,164 93 
 
 The expenditures, during the year 1821, amounted 
 (see statement F) to ^- *:<pb 19,090,572 69 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous $2,241,871 54 
 
 Military service, including fortifica- 
 tions, ordnance, Indian department, re- 
 volutionary and military pensions, arm- 
 ing the militia, and arrearages prior to 
 1st January, 1817 .. * 5,162,364 47 
 
 Naval service, including the gradual 
 increase of the navy - - 3,319,243 06 
 
 Public debt - - - 8,367,093 62 
 
 Leaving a balance in the Treasury, on the 1st of Jan- 
 uary, 1822, of . 1,681,592 24 
 
 -
 
 REPORTS OF THE 
 
 The actual receipts into the Treasury, during the first 
 three quarters of the year 1822, are estimated to have 
 amounted -to - - $14.745,40875 
 
 Viz. 
 
 Customs - - $12,648,933 15 
 
 Public lands, exclu- 
 sive of Mississippi stock, 
 (see statement G) - 1,298,434 56 
 
 Arrears of internal 
 duties and direct tax, 
 dividend on stock in 
 the Bank of the United 
 States, and other inci- 
 dental receipts, (see 
 statement H) - 391,871 76 
 
 Balances of appropri- 
 ations for the War and 
 Navy Departments, re- 
 turned to the Treasury, 
 and carried to the sur- 
 plus fund - 408,119 28 
 
 The actual receipts into the Treasury 
 during the fourth quarter are estimated at 5,000,000 00 
 
 Making the total estimated receipts into the Treasury 
 
 during the year 1822 
 
 - $19,745.408 75 
 
 And with the balance in the Trersury on the 1st of 
 
 January, 1822, forming an aggregate of - 
 
 - $21,427.000 99 
 
 The expenditures during the first three quarters of the 
 year 1822 are estimated to have amounted to (see state- 
 
 ment I) 
 Viz. 
 
 Civil, diplomatic, and 
 miscellaneous 
 
 Military service, inclu- 
 ding fortifications, ord- 
 nance, Indian depart- 
 ment, revolutionary and 
 military pensions, arm- 
 ing the militia, and ar- 
 rearages prior to 1st Jan- 
 uary, 1817 
 
 Naval service, includ- 
 ing the gradual increase 
 of the navy - 
 
 Public debt .M-I 
 
 $12.278,653 32 
 
 $1,536,434 24 
 
 i-HIiT 
 fctotl 
 
 4.930,210 68 
 
 1,538,952 88 
 4,273,055 52 
 
 bun 
 
 ; nm 
 
 The expenditures during the fourth 
 quarter, including the redemption of the 
 $2,000,000 of six per cent, stock of 1820, 
 are estimated at Bl - to f '*& -Xi l! * 6,000.00000 
 
 | ^ ^ f 
 
 Making the total estimated expenditure of the year 1822 $18,278,653 32
 
 1822.] 
 
 SECRETARY OF THE TREASURY. 
 
 219 
 
 And leaving in the Treasury on the 1st of January, 1823, an estimated 
 balance of $3,148,347 67. After deducting from this sum certain balances 
 of appropriations, amounting to $>1, 232.2 12 11, which are necessary to effect 
 the objects for which they were severally made, or have been deducted from 
 the estimates for the service of the ensuing year, a balance of $1.916,135 56 
 remain^, which, with the receipts into the Treasury during the year 1823, 
 constitutes the means for defraying the current service of that year. 
 
 II. OF THE PUBLIC DEBT. 
 
 The funded debt which was contracted before the year 1812, and which 
 was unredeemed on the 1st day of October, 1821, amounted (see statement 
 No. 1) to ... $17,833.746 84 
 
 And that which was contracted subsequently to the 1st 
 of January, 1812, and was unredeemed on the 1st of Oc- 
 tober, 1821, amounted (see statement No. 1) to 75,852.458 18 
 
 Making the total amount of the funded debt unre- 
 deemed on the 1st of October, 1821 - 
 
 In the fourth quarter of that year there was issued 
 Treasury note six per cent, stock to the amount of - 
 
 Making an aggregate of 
 
 In the same quarter there was paid the sum of 
 
 Viz. 
 
 Reimbursement of six per cent, de- 
 ferred stock - - $257.180 60 
 Redemption of Louisiana stock - 5,558 15 
 
 93,686,205 02 
 390 40 
 
 93,686,595 42 
 262.738 75 
 
 Reducing the funded debt on the 1st of January, 1822, 
 (see statement No. 2,) to 
 
 From that day to the 1st of October last, there was is- 
 sued three per cent, stock to the amount of 
 
 Making an aggregate of 
 
 During the same period there was paid the sum of 
 Viz, 
 
 Reimbursement of six per cent, de- 
 ferred stock - - $300,980 02 
 
 Redemption of six per cent, stock 
 of 1796 - 80,000 00 
 
 93,423,856 67 
 143 02 
 
 93.423,999 69 
 '380,980 02 
 
 Reducing the funded debt on the 1st of October, 1822, 
 (see estimate No. 3,) to ... 
 
 It is estimated that in the fourth quarter of the present 
 year there will be paid - 
 
 Viz. 
 
 Reimbursement of six per cent, de- 
 ferred stock - - $265.538 07 
 
 Redemption of six per cent, stock 
 of 1820 - . 2,000.000 00 
 
 93,043,019 67 
 2,265,588 07 
 
 Which will reduce the funded debt, unredeemed on 
 the 1st of January, 18/i3, to - ";>' 
 
 90,777,431 60
 
 220 REPORTS OF THE [1822. 
 
 The amount of Treasury notes outstanding on the 1st 
 of October, 1822, is estimated (see No. 4) at - $27,437 00 
 
 And the amount of Mississippi stock unredeemed on 
 that day (see No 5) at - 26,735 94 
 
 III. OF THE ESTIMATE OF THE PUBLIC REVENUE AND EXPENDITURE 
 
 FOR THE YEAR 1823. 
 
 The gross amount of duties on imports and tonnage, which accrued from 
 the 1st of January to the 30th September last, both days included, is esti- 
 mated at $19,500,000, and that of the whole year at $23,000,000. 
 
 It is estimated that the amount of debentures issued during the same period 
 exceeds the amount issued during the corresponding period of the year!821. 
 by $8G,000 ; and that the amount of debentures outstanding on the 30th of 
 September last, chargeable upon the revenue of 1823, is $234,000 more 
 than was on the same day in 1821 chargeable upon the revenue of 1822. 
 
 It is estimated that the value of domestic articles exported from the 
 United States, in the year ending on the 30th of September last, has amounted 
 to $49,874,079, and that foreign articles exported during the same period 
 have amounted to $22,286,202. 
 
 As the receipts from the customs in the year 1823 depend, 1st, upon the 
 amount of duty bonds which become due within that year, after deducting 
 the expenses of collection and the amount of debentures chargeable upon 
 them ; and 2d, upon such portion of the dutiesjsecured in the first and second 
 quarters of that year, as are payable within the year ; it is manifest that an 
 increase in the amount of debentures chargeable upon the revenue of the 
 year 1823, or a diminution of the importations of foreign merchandise during 
 the first two quarters of that year, must necessarily diminish the receipts 
 into the Treasury. As debentures can be issued at any time within twelve 
 months after importation, chargeable upon bonds given for the duties upon 
 such importation, it is impossible to foresee the amount which maybe charge- 
 able upon the bonds that are payable during the year 1823. The facts, 
 however, which have been stated, justify the conclusion, that the amount of 
 debentures which will be issued and charged upon the revenue of 1823 will 
 considerably exceed the amount which was chargeable upon that of 1822. 
 From the same facts, it is also presumed that the importations of the first 
 two quarters of the year 1823, will be less than the corresponding quarters 
 of the present year. 
 
 Giving due weight to all the facts connected with the subject, the receipts 
 
 for the year 1823 may be estimated at - ffi&:; - $21,100,000 00 
 
 Viz. 
 
 Customs - $19,000.000 00 
 
 Public lands */-. ' . - 1,60(^000 00 
 
 Bank dividends 330,000 00 
 
 Arrears of internal duties and direct 
 ax, and incidental receipts - Jfo 150,000 000 
 
 To which is to be added the sum of - 1,916,135 56 
 
 Remaining in the Treasury after satisfying the bal- 
 ances of appropriations chargeable upon the revenue of 
 1822, which makes the entire means of the year 1823 
 amount to - ' - m ~-*' - - 23,016,135 56 
 
 * * 

 
 1822.] SECRETARY OF THE TREASURY. 221 
 
 The expenditure of the year 1823 is estimated at - $15.059,597 22 
 Viz. 
 
 Civil, diplomatic, and miscellaneous $1,599,317 35 
 
 Military service, including fortifica- 
 tions, ordnance, Indian department, re- 
 volutionary and military pensions, arm- 
 ing the militia, and arrearages prior to 
 the 1st of January, 1817 - 5,134,292 75 
 
 Naval service, including the gradual 
 increase of the navy - - - 2,723,98712 
 
 Public debt - - - - 5,602,000-00 
 
 Which being deducted from the above sum, will leave 
 in the Treasury, on the 1st of January, 1824, after satis- 
 fying the current demands of the year 1823, a sum es- 
 
 timated at - - $7,956,538 34 
 
 Although the facts already disclosed justify the conclusion that the im- 
 portations of the present year exceed the value of domestic articles exported 
 during the year, yet there are no means of ascertaining the extent of that 
 excess. If the custom-house documents were to be considered conclusive 
 evidence upon this subject, it would be apparent that the nation has, through 
 the whole period of its existence, imported more in value than it has ex- 
 ported. But the fact is incontestable, that the United States have^enjoyed a 
 more uninterrupted prosperity, and have increased their capital to a greater 
 relative extent, than any of the nations with whom they have maintained 
 commercial intercourse. 
 
 To show that the custom-house documents cannot be considered conclu- 
 sive evidence in this case, it is proper to observe: 1st. That the value of 
 articles paying duties ad valorem, imported into the United States, is ascer- 
 tained by adding to the invoice value 20 per cent. , if from beyond the Cape 
 of Good Hope, and 10 per cent, from all other places; whilst the value of 
 domestic articles exported is ascertained at the port of shipment, without any 
 such addition. 2d. The greatest portion of the importations and exporta- 
 tions is made in vessels of the United States. 3d. The capital employed 
 in the trade of the northwest coast and of the Pacific ocean consists 
 almost exclusively of, the labor and enterprise of those engaged in it. 
 Foreign articles, the proceeds of those enterprises, imported into the United 
 States, are therefore only equivalent to the labor and enterprise by which 
 they were procured. 4th. The value of domestic articles exported is more 
 imperfectly ascertained than of foreign articles imported ; because it has not 
 been considered necessary to resort to the same sanctions to enforce a com- 
 pliance with the regulations which have been prescribed for that purpose. 
 To ascertain the relative value of imports and exports, it is necessary 1st. 
 That the same additions should be made to the invoice value of the latter, as 
 are required by law to be made to the former. 2d. The freight of domestic 
 articles exported in American vessels should be added to their value, after 
 deducting from it the freight of foreign articles imported in foreign vessels. 
 3d. The value of foreign articles imported in vessels engaged in the trade of 
 the northwest coast and Pacific ocean, the proceeds of the labor and en- 
 terprise of those by whom they are navigated, should be added to the do- 
 mestic exports. 4th. ,It is impossible to ascertain what addition should be 
 :d;ob 0'' ' x Vftttn -~ "iffri ;*|J
 
 222 REPORTS OF THE [1822, 
 
 made to the value of the domestic exports on account of the omission of the 
 exporters to state correctly the quantity or value of articles exported hy 
 them; but, after- making a liberal allowance for foreign articles illicitly in- 
 troduced or inaccurately invoiced, it is believed that a considerable addition 
 should be made. 
 
 If, then, to the amount of domestic articles exported during the year 
 ending on the 30th of September last, already estimated at 49,874,079 dol- 
 lars, the additions should be made which the preceding facts and consid- 
 erations appear to authorize, the value of our domestic exports during that 
 period may be estimated at nearly 60,000,000 dollars. 
 
 Although no calculation has been completed, showing the average rate of 
 duty upon the value of foreign articles imported into the United States, it 
 is presumed that an importation of 60,000,000 dollars of foreign merchan- 
 dise will not produce a less revenue than 17,000,000 dollars. As the re- 
 ceipts from the customs during the year 1823 have been estimated at 
 19,000,000 dollars, it is probable that the receipts from the same source. in 
 1824, which will depend upon the importations of 1823, will not exceed. 
 15,000,000 dollars. Under the most unfavorable circumstances, it is be- 
 lieved that the receipts of that year will be sufficient to discharge all de- 
 mands upon the Treasury which may be authorized by law. 
 
 If the current appropriations for the year 1825 shall be equal to those 
 required by the estimates for the ensuing year, the expenditure of that year 
 may be estimated at - ; - $28,253,597 22 
 
 Viz. 
 
 Current appropriations - $8,578,722 22 
 
 Permanent appropriations for arming the 
 militia, and Indian annuities - 378,875 00 
 
 Gradual increase of the navy v.-V , > 500,000 00 
 
 Public debt, including balances unapplied 
 in 1823 and 1824, amounting to $8.796,000, 18,796,000 00 
 
 The means of the Treasury to meet this extraordinary 
 expenditure, consists 1st, of the balance which may be 
 in the Treasury on the 1st of January of that year, esti- 
 mated at - $8,000,000 00 } 
 
 And 2d, of the receipts of that year, esti- 
 mated at 19,000,000 00 
 
 Viz. 
 
 Customs - $17,000,000 
 
 Public lands - 1,600,000 
 
 Bank dividends - 350,000 
 
 Incidental receipts - 50,000 
 
 Making together an aggregate of \ <#i 27,000,000 00 
 
 o ; t i bfc/j 'or 
 
 And leaving a deficit of about - $1,250,000 00 
 
 In this estimate the receipts and expenditures of the year 1824 are esti- 
 mated to be nearly equal. It is probable, however, that the receipts may 
 exceed, to a small extent, the expenditures; but there is at least an equal 
 probability that the receipts for the year 1825 are estimated too high. In 
 the year 1826, the expenditure, assuming the current appropriations to be 
 the same as in the year 1823, may be estimated at 19,457.000 dollars, and
 
 > 1S22.] SECRETARY OF THE TREASURY. 
 
 the receipts at 19,000,000 dollars. As the appropriation of 500.000 dollars 
 for the gradual increase of the navy expires in that year, the annual expend- 
 iture may, for subsequent years, be estimated at 19,000,000 dollars, unless 
 it shall be considered expedient >.o make further provision for the increase 
 of that essential means of national defence. 
 
 It is probable that the annual revenue will be equal to that sum. To pro- 
 vide for the estimated deficit of the years 1825 and 1826, as well as to meet 
 any extraordinary demands upon the Treasury which unforeseen exigen- 
 cies may require, it is believed to be expedient that the revenue should be 
 increased. This may be conveniently effected by a judicious revision of 
 the tariff, which, while it will not prove onerous to the consumer, will sim- 
 plify the labors of the officers of the' revenue. At present, articles composed 
 of wool, cotton, flax, and hemp, pay different rates of duty. Difficulties 
 frequently occur in determining the duties to which such cirticles are sub- 
 ject. The provision in the tariff, that the duty upon articles composed of 
 various materials shall be regulated by the material of chief value of which 
 it is composed, is productive of frequent embarrassment and much incon- 
 venience. It is therefore respectfully submitted, that all articles composed 
 of wool, cotton, flax, hemp, or silk, or of which any one of these materials 
 is a component part, be subject to a duty of twenty-five per cent, ad valorem. 
 
 The duties upon glass and paper, upon iron arid lead, arid upon all arti- 
 cles composed of the two latter materials, may also be increased, with a 
 view to the augmentation of the revenue. In all these cases, except arti- 
 cles composed of silk, it is probable that the effect of the proposed augment- 
 ation of duties will gradually lead to an ample supply of those articles 
 from our domestic manufactories. It is however presumed, that the reve- 
 nue will continue to be augmented by the proposed alterations in the tariff, 
 until the public debt shall have been redeemed; after which, the public 
 expenditure, in time of peace, will be diminished to the extent of the 
 sinking fund, which is at present $10,000,000. But if, contrary to present 
 anticipations, the proposed augmentation of duties should, before the public 
 debt be redeemed, produce a diminution of the revenue arising from the 
 importation of those articles, a corresponding, if not a greater augmenta- 
 tion, may be confidently expected upon other articles imported into the 
 United States. This supposition rests upon the two-fold conviction, that 
 foreign articles, nearly equal to the value of the domestic exports, will be 
 imported and consumed; and that the substitution of particular classes of 
 domestic articles for those of foreign nations, not only does not necessarily 
 diminish the value of domestic exports, but usually tends to increase that 
 value. 
 
 The duties upon various other articles, not in any degree connected with 
 our domestic industry, may likewise be increased, with a view to the aug- 
 mentation of the public revenue. If the existing tariff shall, during the pre- 
 sent session of Congress, be judiciously revised for the purpose of augment- 
 ing the revenue, it is confidently believed that it will not only be amply suf- 
 ficient to defray all the demands upon the Treasury at present authorized 
 by law, but that there will remain an annual surplus, subject to such dis- 
 position, for the promotion of the public welfare, as the wisdom of Congress 
 may direct. 
 
 Under the act of the 20th of April last, authorizing the exchange of cer- 
 tain portions of the public debt for five per cent, stock, $56,704 77 only 
 have been exchanged. The increased demand for capital for the prosecu-
 
 224 REPORTS OF THE [1822. 
 
 tion of commercial enterprises during the present year, and the rise in the 
 rate of interest consequent upon that demand, which were not anticipated 
 at the time that the measure was proposed, have prevented its execution. 
 Existing circumstances do not authorize the conclusion, that a measure of 
 this nature will be more successful during the next year. If the price of the 
 public debt in 1825 should be as high as it is at present, any portion of it, 
 redeemable at the pleasure of the Government, which should be unredeem- 
 ed in that and subsequent years, after the application of the sinking fund 
 to that object, may be advantageously exchanged for stock, redeemable at 
 such periods as to give full operation to the sinking fund. This may be 
 effected, either directly, by an exchange of stock, or indirectly, by authoriz- 
 ing a loan to the amount of the stock annually redeemable, beyond the 
 amount of the sinking fund applicable to that object. 
 All which is respectfully submitted. 
 
 WM. H. CRAWFORD. 
 TREASURY DEPARTMENT, December 23, 1822. 
 
 ir; us .'j
 
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 226 
 
 REPORTS OF THE 
 
 
 [1822. 
 
 B. 
 
 A STATEMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1821 ; 
 {consisting of the difference between articles paying duty, imported, and 
 those entitled to drawback, re-exported;} and, also, of the nett revenue 
 which accrued that year from duties on merchandise, tonnage, pass- 
 ports, and clearances. 
 
 MERCHANDISE PAYIXG DUTIES AD VALOREM. 
 
 840,613 dollars, at 7i per cent. 
 13,036,191 dollars, at 15~ per cent. 
 4,473,993 dollars, at 20 percent. 
 16,605,525 dollars, at 25 percent. 
 1,604,368 dollars, at 30 per cent. 
 
 $63,045 98 
 - 1,955,428 65 
 .894,798 60 
 4,151,381 25 
 481,310 40 
 
 87, 545, 964 88 
 8,712,707 45 
 
 36,560,690 dollars 
 
 7,545,964 88 
 
 1. Wines, 3,154,111 gallons, at 24. 86 cents, average 
 2. Spirits, 3,847,003 gallons, at 43. 65 cents, average 
 Molasses, 9,459,898 gallons, at 5 cents 
 3. Teas, 4,603,855 pounds, at 3 1.45 cents, average 
 4. Coffee, 15,965,237 pounds, at 5 cents 
 5. Sugar, 43,084,819 pounds, at 3.05 cents, average 
 6. Salt, 3,121,847 bushels, at 20 cents 
 7. Other articles - 
 
 To which add duties collected on merchandise, the par- 
 ticulars of which were not rendered by the collectors, 
 after deducting tlierefrom duties refunded, and differ- 
 ence in calculation - ... 
 
 2j per cent, retained on drawbacks 
 Extra duty on merchandise imported in foreign vessels - 
 Interest and storage 
 
 *"* ' 
 
 Duties on merchandise ,' 
 Duties on tonnage - 
 Light money - - ' ; _ 
 
 Passports and clearances - 
 
 Deduct expenses of collection - !>. -- 
 " L ' '* : -1 
 Nett revenue, per statement A - - 
 
 784,126 65 
 1,679,319 49 
 472,994 90 
 1,447,921 09 
 798,446 90 
 1,315,143.40 
 624, 3G9 40 
 1,590,385 62 
 
 61,674 69 
 21,010 70 
 26,725 21 
 
 16,258,672 33 
 115,483 02 
 
 16,374,155 35 
 I09y410 60 
 
 89^848 61 
 8,328 99 
 
 10,483,565 95 
 
 98,177 60 
 9,858 00 
 
 16,591,601 55 
 693,167 13 
 
 '1 ~ - 
 
 15,898,434 42 
 
 i> 
 J 
 
 
 ' 

 
 1822.] 
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes. 
 
 227 
 
 1. Wines- 
 Madeira - r 
 Burgundy, &c. 
 Sherry and St. Lucar 
 Lisbon and Oporto 
 Tenenfle, Fayal, &c. 
 Claret, &c. bottled 
 All other f*> _ >*! 
 
 2. Spirits 
 From grain, 1st proof 
 2d do. 
 3d do. 
 4th do. 
 5th do. 
 Above 5th do. 
 Other materials, 1st & 2d do. 
 3d do. 
 4th do. 
 5th do. 
 Above 5th do. 
 
 3. Teas 
 Bohea "V y 
 Souchong 
 Hyson skin, &c. ''.*. 
 Hyson and young hyson 
 Imperial 
 
 Extra duty on teas imported from 
 other places than China 
 
 4. Coffee 
 Do. (imported in 1814) 
 
 5. Sugar 
 Brown, &c. 
 Do. (imported in 1814) 
 White, clayed 
 
 6. Salt imported, bushels 
 exported, do. 
 Bounties and allowances redt 
 ed into bushels 
 
 93,480 gallons, at 
 3,761 do. 
 18,858 do. 
 - 285,740 do. 
 - 445,818 do. 
 5b,037 do. 
 - 2,250,417 do. 
 
 100 cents 
 100 do. 
 60 do. 
 50 do. 
 40 do. 
 30 do. 
 15 do. 
 
 42 cents 
 45 do. 
 48 do. 
 52 do. 
 60 do. 
 75 do. 
 38 do. 
 42 do. 
 48 do. 
 57 do. 
 70 do. 
 
 12 cents 
 25 do. 
 28 do. 
 40 do. 
 50 do. 
 
 5 cents 
 10 do. 
 
 3 cents 
 5 do. 
 4 do. 
 
 20 do. 
 
 20 do. 
 20 do. 
 
 $93,480 00 
 3,761 00 
 11,314 80 
 142,870 00 
 178,327 20 
 16,811 10 
 337,562 55 
 
 3,154,111 do. 
 
 784,126 65 
 
 - 442,139 gallons, at 
 30,362 do. 
 2,471 do. 
 10,450 do. 
 5,799 do. 
 638 do. 
 - 555,670 do. 
 - 1,457,617 do. 
 - 1,323,048 do. 
 16,945 do. 
 f^ 1,864 do. 
 
 185,698 38 
 13,662 90 
 1,186 08 
 5,434 00 
 3,479 40 
 478 50 
 211,154 60 
 612,199 14 
 635,063 04 
 9,658 65 
 1,304 80 
 
 3,847,003 do. 
 
 1,679,319 49 
 
 - 175,328 pounds, at 
 - 1,053,758 do. 
 - 1,728,913 do. 
 - 1,437,189 do. 
 - 208,667 do. 
 
 21,039 36 
 263,439 50 
 484,095 64 
 574,875 60 
 104,333 50 
 
 4,603,855 do. 
 
 1,447,783 60 
 13749 
 
 4,603,855 do. 
 
 1,447,921 09 
 
 15,961,536 pounds, at 
 3,701 do. 
 
 798,076 80 
 370 10 
 
 15,965,237 do. 
 
 798,446 90 
 
 40,578,166 pounds, at 
 53,230 do. 
 - 2,453,423 do. 
 
 1,214,344 98 
 2,661 50 
 98,136 92 
 
 43,084,819 do. 
 
 1,315,143 40 
 
 - 4,061,422 
 - 33,772 
 
 LC- 
 
 - 905,803 
 
 939 575 
 
 812,284 40 
 187,915 00 
 
 
 3,121,847 
 
 624,369 40 
 
 
 - ?
 
 228 , REPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 [1822. 
 
 7. All other articles. 
 &>-&;& 
 
 Gluantity. 
 
 Rate 
 of 
 duty 
 
 Duties. 
 
 
 
 
 Cents 
 
 
 Duck, Russia 
 Ravens .- . -. 
 
 - pieces 
 do. 
 
 28,797 
 26,468 
 
 200 
 125 
 
 $57,594 00 
 33,085 00 
 
 Holland - . - 
 
 do. 
 
 1,416 
 
 250 
 
 3,540 CO 
 
 Sheeting, brown, Russia - 
 white, Russia - , - 
 
 do. 
 do. 
 
 16,946 
 997 
 
 160 
 
 250 
 
 27,113 60 
 2,492 50 
 
 Beer, ale, and porter, in bottles - 
 
 - gallons 
 
 71,343 
 
 15 
 
 10,701 45 
 
 jn casks 
 
 - do. 
 
 11,563 
 
 10 
 
 1,156 30 
 
 Oil, spermaceti - 
 whale, and other fish - 
 
 do. 
 do. 
 
 4,462 
 
 578 
 
 25 
 15 
 
 1,115 50 
 
 86 70 
 
 olive, in casks 
 
 - do. 
 
 64,676 
 
 -25 
 
 16,169 00 
 
 Cocoa - - 
 
 - pounds 
 
 414,725 
 
 2 
 
 8,294 50 
 
 Chocolate - 
 
 - do. 
 
 948 
 
 3 
 
 28 44 
 
 Sugar, candy - 4 
 
 do. 
 
 2,665 
 
 12 
 
 319 80 
 
 other refined 
 
 do. 
 
 465 
 
 10 
 
 46 50 
 
 Fruits Almonds - 
 
 do. 
 
 218,801 
 
 3 
 
 6,564 03 
 
 Currants - 
 
 do. 
 
 30,326 
 
 3 
 
 909 78 
 
 Prunes and plums 
 
 do. 
 
 79,058 
 
 3 
 
 2,371 74 
 
 Figs 
 
 - . do. 
 
 385,803 
 
 3 
 
 11,574 09 
 
 Raisins, jar, and muscatel 
 
 - do. 
 
 2,102,416 
 
 3 
 
 63,072 48 
 
 other 
 
 do. 
 
 2,251,500 
 
 2 
 
 45,030 00 
 
 Candies, tallow - 
 wax and spermaceti - 
 
 do. 
 - do. 
 
 4,071 
 172 
 
 3 
 6 
 
 122 13 
 
 10 32 
 
 Cheese - - - 
 
 do. 
 
 53,724 
 
 9 
 
 4,835 16 
 
 Soap 
 
 - do. 
 
 235,515 
 
 3 
 
 7,065 45 
 
 Tallow 
 
 - do. 
 
 5,613^,646 
 
 1 
 
 56,136 46 
 
 Spices Nutmegs - 
 Cinnamon ... 
 
 do. 
 - do.- 
 
 27,875 
 2,917 
 
 60 
 25 
 
 16,725 00 
 
 729 25 
 
 C\oves - - 
 
 do. 
 
 2,306 
 
 25 
 
 576 50 
 
 pepper ..---. 
 
 - -do. 
 
 2,034,605 
 
 8 
 
 162,768 40 
 
 Pimento - 
 
 do. 
 
 349,927 
 
 6 
 
 20,995 62 
 
 Cassia - 
 
 do. 
 
 44,753 
 
 6 
 
 2,685 18 
 
 Tobacco, manufactured, &c. 
 
 -. do. 
 
 573 
 
 10 
 
 57 30 
 
 Snuff 
 
 do. 
 
 5,728 
 
 12 
 
 687 36 
 
 Indigo - - ' 
 
 - do. 
 
 405,962 
 
 15 
 
 53,394 30 
 
 Gunpowder 
 
 do. 
 
 70,673 
 
 8 
 
 5,653 84 
 
 Bristles - - - . - - - 
 
 do. 
 
 139,432 
 
 3 
 
 4,182 96 
 
 Glue 
 
 do. 
 
 70,211 
 
 5 
 
 3,510 55 
 
 Paints, ochre, dry - 
 
 do. 
 
 488,188 
 
 1 
 
 ' 4,881 88 
 
 in oil 
 
 do. 
 
 75,659 
 
 ii 
 
 1,134 88 
 
 White and red lead 
 
 do. 
 
 3,787,069 
 
 3 
 
 113,612 07 
 
 Whiting and Paris white - 
 
 do. 
 
 28,118 
 
 1 
 
 281 18 
 
 Lead, pig, bar, and sheet - 
 
 do. 
 
 3,524,427 
 
 1 
 
 35,244 27 
 
 shot - - 
 
 do. 
 
 2,374,842 
 
 2 
 
 47,496 84 
 
 Cordage, cables and tarred : 
 
 do. 
 
 157,212 
 
 3 
 
 4,716 36 
 
 untarred 
 
 do. 
 
 367,719 
 
 4 
 
 14,708 76 
 
 twine '-."'* 
 
 do. 
 
 282,304 
 
 4 
 
 11,292 16 
 
 Copper, rods and bolts 
 nails and spikes - ; - 
 
 - do. 
 do. 
 
 26,244 
 3,390 
 
 4 
 4 
 
 1,049 76 
 135 60 
 
 Wire, iron and steel, not above No. 18 - 
 above No. 18 
 
 -: : do. 
 do. 
 
 267,283 
 103,215 
 
 5 
 9 
 
 13,364 15 
 9,289 35 
 
 Jroa, tacks, brads, and sprigs, not above 16 oz 
 
 per M. 
 
 46,466 
 
 5 
 
 2,323 30 
 
 above 16 oz. 
 
 do. 
 
 1,250 
 
 4 
 
 50 00 
 
 nails ----- 
 
 - pounds 
 
 705,572 
 
 4 
 
 28,222 88 
 
 spikes - "- 
 
 - do. 
 
 83,731 
 
 3 
 
 2,511 93 
 
 anchors 
 
 do. 
 
 64,540 
 
 2 
 
 1,290 80 
 
 pig - * 
 
 - cwt. 
 
 14,633 
 
 50 
 
 7,316 50 
 
 castings - - 
 
 do. 
 
 8,822 
 
 75 
 
 6,616 50 
 
 bar, rolled - - - 
 
 do. 
 
 33,431 
 
 150 
 
 50,146 50 
 
 hammered 
 
 do. 
 
 306,960 
 
 75 
 
 230,220 00 
 
 sheet, rod and hoop - 
 
 do. 
 
 26,452 
 
 250 
 
 66,130 00
 
 1822.] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 229 
 
 7. All other articles. 
 
 Quantity. 
 
 Rate 
 of 
 
 duty. 
 
 Duties. 
 
 Steel 
 
 cwt. 
 
 11.699 
 
 Cents. 
 100 
 
 $11,699 00 
 
 Hemp - - - "^ 
 
 do. 
 
 119,927 
 
 150 
 
 179,890 50 
 
 Alum - 
 
 do. 
 
 1,899 
 
 200 
 
 3,798 00 
 
 Copperas - - - 
 
 -. do. 
 
 2,895 
 
 100 
 
 2,895 00 
 
 Coal ... 
 
 - bushels 
 
 774,247 
 
 5 
 
 38,712 35 
 
 Fish foreign caught, dried, &c. 
 
 - quintals 
 
 308 
 
 100 
 
 308 00 
 
 salmon, pickled - - *"*'-', 
 
 barrels 
 
 1,282 
 
 200 
 
 2,564 00 
 
 mackerel, do. - 
 
 - do. 
 
 199 
 
 150 
 
 298 50 
 
 other do. - - - 
 
 do. 
 
 146 
 
 100 
 
 146 00 
 
 Glass bottles, black quart 
 
 gross 
 
 11,110 
 
 144 
 
 ,15,998 40 
 
 window, not above 8 by 10 inches 
 
 - 100 sq. ft. 
 
 2,306 
 
 250 
 
 5,765 00 
 
 do. do. 10 by 12 do. 
 
 do. 
 
 910 
 
 275 
 
 2,502 50 
 
 do. above 10 by 12 do. 
 
 cv." do. 
 
 2,756 
 
 325 
 
 8,957 00 
 
 Boots ----- 
 
 ; V : " pairs 
 
 . 104 
 
 150 
 
 156 00 
 
 Shoes and slippers silk 
 
 v. V. do. 
 
 790 
 
 30 
 
 &37 00 
 
 leather, men's, &c. 
 
 do. 
 
 7,012 
 
 25 
 
 1,753 00 
 
 children's 
 
 do. 
 
 2,271 
 
 15 
 
 340 65 
 
 Segars - - .*?.? 
 
 M. 
 
 12,478 
 
 250 
 
 31,195 00 
 
 Cards, playing - . _ - s 
 
 packs 
 
 1,300 
 
 30 
 
 390 00 
 
 From which deduct excess of exportation over importation, viz: 
 Loaf sugar -v 437 pounds, at 12 cents 
 
 Mace - - - 536 do. at 100 do. 
 
 Cotton - - - 2,290 do. at 3 do. 
 
 $52 44 
 
 536 00 
 
 68 70 
 
 1,591,042 76 
 
 657 14 
 
 1,590,385 62 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 7, 1822. 
 
 
 JOSEPH NOURSE, Register 
 
 it 4 ]
 
 230 
 
 REPORTS OF THE [1822, 
 
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 SECRETARY OF THE TREASURY. 
 
 231 
 
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 $ 
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 JOHN McLEAN, Co 
 
 Off 
 
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 Jw -id! { '^)i 41 yiH^^t'F . tintm. 
 
 822 
 
 29 
 
 
 
 d in 1821 
 ing comm 
 duals ,- 
 
 Amount of mo 
 Incidental exp 
 Repayments m 
 
 TREASURY DEPARTMENT, 
 General Land Office, 
 
 \w i' 
 
 a 

 
 232 
 
 REPORTS OF THE 
 E. 
 
 [1822. 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, during the year 1821. 
 
 From arrears of old internal revenue 
 direct tax of 1798 
 new internal revenue 
 new direct tax 
 
 dividend on stock in the Bank of the United States 
 
 fees on letters patent 
 
 postage of letters - 
 
 cents coined at the mint - 
 
 prizes captured by public armed vessels - 
 
 sales of public lots in the city of Washington 
 
 return passage money of an American seaman 
 
 damages recovered in an action of ejectment, in the 
 district court of Vermont 
 
 vessels, &c., condemned under the acts prohibiting 
 the slave trade - 
 
 interest on balances due by banks to the United 
 States - 
 
 moneys previously advanced on account 
 
 of the third census - - $231 18 
 
 moneys previously advanced for build- 
 ing custom-houses 716 62 
 
 balances of advances made to the War 
 
 Department - , - - 112,430 81 
 
 small Treasury notes, for which certificates of 7 
 
 per cent, stock have been issued 
 loan authorized by act of 3d March, 
 
 1821 $4,735,296 30 
 
 premium on the same - 264,703 70 
 
 $3,661 25 
 
 69,027 63 
 
 25.687 80 
 
 105,000 00 
 
 4,770 00 
 
 516 91 
 
 14,440 00 
 
 634 20 
 
 9,372 75 
 
 10 00 
 
 233 33 
 
 8,923 28- 
 310 35 
 
 113,378 61 
 324 00 
 
 $5,356,290 II 
 
 TREASURY DEPARTMENT. 
 
 Register's Office, December 12, 1822. 
 
 JOSEPH NOURSE, Register.
 
 1822.] 
 
 SECRETARY OF THE TREASURY. 
 
 233 
 
 F. 
 
 - 
 
 STATEMENT of the expenditures of the 
 
 year 1321. 
 
 United States, for the 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ : 
 
 Legislature -_ $359,900 04 
 
 Executive departments - 506,024 19 
 
 Officers of the mint 9,600 00 
 
 Surveying department - 16,837 32 
 
 Commissioner of Public Buildings 1,000 00 
 Governments in the Territories of the 
 
 United States - 14,101 68 
 
 Judiciary 204,829 41 
 
 Annuities and grants - <V : 1,30000 
 Mint establishment 45.850 00 
 Unclaimed merchandise - 3,736 92 
 Light-house establishment 146,584 84 
 Surveys of public lands 173J941 95 
 Privateer pension fund - 1,961 54 
 Trading-houses with the Indians 18,750 00 
 Roads within the State of Ohio - ' -K 9,802 85 
 Roads within the State of Alabama '950 00 
 Road from Cumberland to Ohio 65,320 11 
 Road from Wheeling, Va., to the Missis- 
 sippi river , t$ .. 5,000 00 
 Marine hospital establishment - 66,845 48 
 Public buildings in Washington 110,136 00 
 Florida claims - 413 60 
 Payment of claims for property lost, &c. 134 50 
 Payment of balances to collectors of new 
 
 internal revenue 2,567 05 
 Payment of balances to certain collectors 
 
 of old internal revenue 266 98 
 Payment of outstanding debentures for 
 
 internal duties 7,074 16 
 
 Prohibition of the slave trade - 7,502 67 
 
 Prisoners of war 2,684 57 
 
 Fourth census - 212,000 00 
 Refunding surplus proceeds of property 
 
 sold for payment of direct tax 134 58 
 Votes for President and Vice President of 
 
 the United States 3,195 50 
 
 Miscellaneous claims - 33,314 85 
 Surveying certain parts of the coast of 
 
 North Carolina - - -;- 3,000 00 
 
 $1,112,292 64 
 
 
 922,468 1
 
 234 
 
 REPORTS OF THE 
 
 [1822. 
 
 Diplomatic department - 
 
 Contingent expenses of foreign intercourse 
 
 Relief and protection of American seamen 
 
 Treaty of Ghent 
 
 Treaties with Mediterranean powers 
 
 Treaty with Spain 
 
 $45,524 91 
 21.662 77 
 33,504 26 
 29,522 66 
 13,896 15 
 63.000 00 
 
 207,110 75 
 
 MILITARY DEPARTMENT, VIZ: 
 
 Pay of the army 
 
 Subsistence 
 
 Forage - 
 
 Clothing 
 
 Medical and hospital department 
 
 Contingent expenses 
 
 Ordnance 
 
 Fortifications 
 
 Quartermaster's department 
 
 Military Academy at West Point 
 
 Arrearages of outstanding claims 
 
 Survey of the watercourses west of the 
 
 Mississippi 
 
 Survey of the Ohio and Mississippi rivers 
 Pay of disbanded officers and soldiers - 
 Balances due to certain States - 
 Boundary line of Indian cessions 
 Indian department 
 Civilization of Indian tribes 
 Road through the Creek nation, between 
 
 Georgia and Alabama 
 Relief of John Harding and others 
 
 Joseph Bruce - 
 
 Thomas C. Withers 
 
 Daniel Converse and George 
 
 Miller 
 
 Military pensions 
 
 Half-pay pensions to widows and orphans 
 Arming and equipping the militia 
 Treaties with Indian tribes 
 Survey of the coast of the United States - 
 
 1,154,555 86 
 354,654 67 
 
 31,840 00 
 276,565 25 
 
 12,505 GO 
 
 40.000 00 
 805^250 00 
 602,000 00 
 456,380 50 
 '-59,286 79 
 
 30,000 00 
 
 4,500 00 
 
 5.000 00 
 
 6(1,000 00 
 
 350,000 00 
 
 15.000 00 
 
 330,205 44 
 
 10.000 00 
 
 3,300 00 
 
 180 00 
 
 ' 65 00 
 
 370 00 
 
 35 00 
 
 212.817 25 
 
 30,000 00 
 
 200,000 00 
 
 118,050 00 
 
 103 71 
 
 5,162,364 47 
 
 NAVAL DEPARTMENT, VIZ : 
 
 Pay and subsistence of officers, and pay 
 
 of seamen - 983,325 25 
 
 Provisions 337,831 00 
 
 Medicines 32,000 00 
 
 Repairs of vessels wf< 475,000 00 
 
 Ordnance - 25,000 00 
 
 Contingent expenses - 200,000 00
 
 1822.J 
 
 SECRETARY OF THE TREASURY. 
 
 235 
 
 Pay and subsistence of the marine corps - $169,393 00 
 
 Clothing for the marine corps .-./ 30,68631 
 
 Fuel for the marine corps 6,857 50 
 Quartermasters, and contingencies of the 
 
 marine corps - 14,000 00 
 
 Gradual increase of the navy "-'' 950,000 00 
 
 Navy yards 85,000 00 
 
 Building small vessels of war - 10.000 00 
 
 Removing obstructions in the river Thames 150 00 
 
 PUBLIC DEBT, VIZ : 
 
 Interest and reimbursement of domestic 
 
 debt - :;:-:. 5,623,321 38 
 
 Interest on Louisiana stock .Yr ' -36,56088 
 
 Redemption of Louisiana stock - - 52,071.360 00 
 
 Payment of certain parts of domestic debt 54 45 
 
 Reimbursement of Mississippi stock 634,022 53 
 
 Principal and interest of Treasury notes 1,774 38 
 
 $3,319.243 06 
 
 8,367,093 62 
 $19,090.572 69 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 14, 1822. 
 
 JOSEPH NOURSE, Register. 

 
 236 
 
 REPORTS OF THE 
 
 [1822. 
 
 G. 
 
 STATEMENT of lands sold, and of moneys received on account of 
 public lands, from the 1st January, 1822, to the 30^A June, 1822. 
 
 1 
 
 1 
 Amount received. 
 
 Expenses. 
 
 
 
 Lands sold _, M 
 
 ~O iL ^* O 
 
 i 
 
 - '/i 
 
 <U Si fa-. 
 
 
 
 in the first 
 
 ||| 
 
 
 > ^ 
 
 S.-C fl 
 
 "^^2^ 
 
 Payments 
 
 Offices. 
 
 two quar- 
 
 
 3 o" ~-2 
 
 '5 a* 
 
 |*.S 
 
 S J o 
 
 made into 
 
 
 ters of '22. 
 
 a) 3 '- s 
 
 '~ O O* 
 
 f* GO 
 
 O o 
 
 &*$ 
 
 
 
 the Trea- 
 
 *' 
 
 
 ^ c/) O 
 
 - r^2oo 
 
 S ^ S"* 
 i; " o M _r 
 
 si| 
 
 3J?S 
 
 -H Jj Q 
 
 'S 
 
 sury. 
 
 
 Acres. 
 
 cc ra do 
 
 Sfe" 
 
 03 0> < 
 
 , tt) O 
 
 C3 M 
 
 .s 5 
 
 rj O 
 O <T P3 
 
 C-S 3 
 
 cL' rt c "5 
 
 1U O C3 ^ 
 
 
 Marietta 
 
 1,449.07 
 
 $1,811 30 
 
 $2,513 79 
 
 $4,325 09 
 
 $604 43 
 
 
 $3,052 52 
 
 Zanebville 
 
 7,080.58 
 
 ^8,850 71 
 
 9,386 62 
 
 18,237 33 
 
 1,009 24 
 
 $100 00 
 
 9,332 09 
 
 Steubenville - 
 
 11,200.73 
 
 14,000 90 
 
 5,418 34 
 
 19,419 24 
 
 1,410 72 
 
 
 18,340 63 
 
 Chillicothe - 
 
 4,964.08 
 
 6,205 03 
 
 6,046 30 
 
 12,251 33 
 
 894 25 
 
 _ 
 
 11,400 01 
 
 Cincinnati 
 
 3,313.32 
 
 4,141 65 
 
 22,118 58 
 
 26,260 23 
 
 1,180 20 
 
 20 64 
 
 20,297 74 
 
 Wooster 
 
 6,305.24 
 
 7,881 54 
 
 8,093 20 
 
 15,974 74 
 
 846 20 
 
 _ 
 
 15,753 58 
 
 Piqua 
 
 1,762.35 
 
 2,202 95 
 
 _ 
 
 2,202 95 
 
 531 85 
 
 
 
 Delaware 
 
 39.953.39 
 
 49,941 81 
 
 M 
 
 49,941 81 
 
 1,598 69 
 
 _ 
 
 57,440 70 
 
 Jefferson ville- 
 
 7,032.$ 
 
 9,540 03 
 
 14,716 35 
 
 24,256 38 
 
 1,237 23 
 
 _ 
 
 58,140 47 
 
 Vincennes 
 
 6,666.24 
 
 8,332 88 
 
 12,311 82 
 
 20,644 70 
 
 1,356 35 
 
 _ 
 
 17,140 52 
 
 Brookville 
 
 51,033.78 
 
 63,809 13 
 
 _ 
 
 63,809 13 
 
 3,449 74 
 
 _ 
 
 98,069 69 
 
 Terre Haute - 
 
 9,931.11 
 
 12,413 93 
 
 _ 
 
 12,413 93 
 
 381 00 
 
 
 
 Kaskaskia - 
 
 1,341.41 
 
 1,676 76 
 
 3,401 73 
 
 5,078 49 
 
 664 20 
 
 _ 
 
 5,783 50 
 
 Shawneelown 
 
 1,349.31 
 
 .1,686 64 
 
 7,393 27 
 
 9,079 91 
 
 789 75 
 
 _ 
 
 9,590 20 
 
 Edwardsville 
 
 4,169.89 
 
 5,212 35 
 
 2,230 93 
 
 7,443 28 
 
 1,128 45 
 
 _ 
 
 7,690 00 
 
 Vandalia 
 
 1,120.00 
 
 1,400 00 
 
 _ 
 
 1,400 00 
 
 574 41 
 
 _ 
 
 500 00 
 
 Palestine 
 
 1,859.52 
 
 2,622 25 
 
 _ 
 
 2,622 25 
 
 650 08 
 
 
 
 Detroit 
 
 6,860.27 
 
 8,575 73 
 
 566 29 
 
 9,142 02 
 
 651 66 
 
 _ 
 
 5,800 00 
 
 St. Louis 
 
 7,394.01 
 
 9,359 86 
 
 7,015 59 
 
 16,375 45 
 
 654 57 
 
 _ 
 
 17,219 56 
 
 Franklin 
 
 5,910.05 
 
 7,387 57 
 
 5,795 13 
 
 13,182 70 
 
 1,676 44 
 
 _ 
 
 18,368 75 
 
 CapeGirardeau 
 
 5,643.54 
 
 7,164,41 
 
 _ 
 
 7,164 41 
 
 2,613 51 
 
 _ 
 
 40,094 77 
 
 Lawrence co. 
 
 _ 
 
 _ 
 
 _ 
 
 
 500 00 
 
 
 
 Arkansas 
 
 258.25 
 
 322 81 
 
 _ 
 
 322 81 
 
 599 95 
 
 _ 
 
 2,819 00 
 
 Ouachita 
 
 2,272.85 
 
 2,841 06 
 
 _ 
 
 2,841 06 
 
 560 62 
 
 
 
 Opelousas 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 500 00 
 
 
 
 New Orleans - 
 
 79,741.22 
 
 99,694 53 
 
 _ 
 
 99,694 53 
 
 2,900 08 
 
 
 
 St. Helena c.h. 
 
 _ 
 
 _ 
 
 _ 
 
 _ 
 
 500 00 
 
 
 
 Jackson c. h. - 
 
 
 
 _ 
 
 
 861 55 
 
 _ 
 
 9,940 34 
 
 Washington - 
 
 6,389.44 
 
 7,986 72 
 
 19,774 12 
 
 27,760 84 
 
 1,526 32 
 
 2,126 76 
 
 24,775 00 
 
 St. Stephen's - 
 
 3,452.82 
 
 4,316 05 
 
 4,620 48 
 
 8,936 53 
 
 1,445 22 
 
 _ 
 
 11,720 83 
 
 Cahaba 
 
 27,471.41 
 
 34,339 23 
 
 70,002 42 
 
 104,341 65 
 
 14 25 
 
 _ 
 
 3,315 59 
 
 Huntsville 
 
 12,438.77 
 
 15,548 50 
 
 1,422 00 
 
 16,970 50 
 
 1,760 48 
 
 _ 
 
 38,266 69 
 
 Tuscaloosa - 
 
 64,894.97 
 
 81,088 69 
 
 _ 
 
 81,088 69 
 
 964 09 
 
 199 96 
 
 200,680 34 
 
 Connecuh c. h. 
 
 - 
 
 - 
 
 - 
 
 - 
 
 500 00 
 
 
 
 
 383,859.63 
 
 480,355 02 
 
 202,826 96 
 
 683,181 98 
 
 36,535 53 
 
 2,447 36 
 
 705,532 52 
 
 Amount of moneys received from the 1st January, 1822, to the 30th June, 1822 $683, 181 98 
 Incidental expenses, including commissions and salaries - - $36,535 53 
 
 Repayments made to individuals ----- 2,44736 
 
 38,982 89 
 
 Nett proceeds of lands iri the first two quarters of 1822 - - 644,199^0? 
 
 The payments made into the Treasury from the 1st of January, 1822, to the 30th 
 
 June, 1822, amount to ----_-. $705,53252 
 Those made from 1st July, 1822, to the 30th September, 1822 - - - 592,952 04 
 
 Total from 1st January, 1822, to the 30th September, 1822 
 
 TREASURY DEPARTMENT, 
 
 General Land Office, November 29, 1822. 
 
 - 1,298,484 56 
 
 JOHN McLEAN, Commissioner.
 
 SECRETARY OF THE TREASURY. 
 
 237 
 
 H. v 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 k other than customs and public lands, from 1st January to 30th Sep- 
 tember, 1822. 
 
 From arrears of old internal revenue 
 direct tax of 1798 
 new internal revenue 
 new direct tax 
 
 dividends on stock in the Bank of the United States - 
 fees on letters patent - 
 postage of letters 
 cents coined at the mint 
 vessels, &c. condemned under the acts prohibiting the 
 
 slave trade 
 
 interest on balances due by banks to the United States 
 nett proceeds of gunboats sold per act of 27th February, 
 
 1817 
 
 moneys previously advanced on account 
 of the third census 
 military pensions 
 roads under the treaty 
 
 of Brownstown 
 balances of advances 
 made to the War Department 
 under 3d section 
 Do. balances of appropria- 
 tions for the War Department 
 returned to the Treasury and 
 carried to the surplus fund, un- 
 der the act of 1st May, 1820 
 Do. balances of appropria- 
 tions for the Navy Department 
 returned to the Treasury and 
 carried to the surplus fund un- 
 der the act of 1st May, 1820 
 
 Do. 
 Do. 
 
 Do. 
 
 $12 84 
 -5,087 29 
 
 578 21 
 
 54,667 82 
 
 84.282 16 
 
 267,169 CO 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 12, 1822. 
 
 $121 11 
 
 863 22 
 
 55,863 97 
 
 15,265 92 
 
 297,500 00 
 
 4,950 00 
 
 602 4 
 
 9,594 00 
 
 1,507 86 
 543 72 
 
 2,381 58 
 
 408,797 62 
 $797,991 04 
 
 JOSEPH NOURSE, Regisler. 

 
 238 
 
 REPORTS OF THE 
 
 
 [1822. 
 
 I. 
 
 STATEMENT of expenditures of the United States, from the 1st of 
 January to the 30th September, 1822. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC. 
 
 Legislature 
 
 Executive Departments 
 
 Officers of the mint 
 
 Commissioner of the Public Buildings 
 
 Surveying department 
 
 Governments in the Territories of the United 
 
 States 
 Judiciary 
 
 Annuities and grants 
 
 Mint establishment - 
 
 Unclaimed merchandise 
 
 Light-house establishment 
 
 Surveys of public lands 
 
 Privateer pension fund 
 
 Appropriation of prize money 
 
 Trading-houses with the Indians 
 
 Roads within the State of Ohio 
 
 Roads within the State of Alabama - 
 
 Roads within the State of Indiana 
 
 Marine hospital establishment 
 
 Public buildings in Washington 
 
 Building custom-houses 
 
 Florida claims 
 
 Payment of balances to collectors, (new internal 
 
 revenue) '' ' 
 
 Payment of balances to officers of old internal 
 
 revenue and direct tax 
 Prohibition of the slave trade 
 Prisoners of war 
 Payment of certain certificates 
 Printing the journal of the convention - 
 Payment of claims for property lost - 
 Survey of the coast of Florida 
 Refunding duties on distilled spirits - 
 Miscellaneous expenses 
 
 Diplomatic department 
 
 Contingent expenses of foreign intercourse - 
 
 Relief and protection of American seamen 
 
 Treaty of Ghent 
 
 Treaty with Spain - 
 
 Treaties with Mediterranean powers 
 
 $369.790 51 
 
 346,390 94 
 
 7,200 00 
 
 1,178 08 
 
 6 ; 882 50 
 
 9,200 00 
 160,143 69 
 
 1,657 13 
 
 8,000 00 
 
 598 49 
 
 128,197 27 
 
 66,735 00 
 
 1,221 62 
 
 634 20 
 
 9,570 60 
 
 3.257 54 
 
 800 00 
 
 32,629 46 
 
 33,959 21 
 
 97,751 53 
 
 1,319 26 
 
 141 17 
 
 517 93 
 
 2,234 82 
 
 22,820 42 
 
 2,089 87 
 
 2,029 43 
 
 542 56 
 
 55 00 
 
 150 00 
 
 95 62 
 
 87,210 60 
 
 86,023 30 
 
 7,250 00 
 
 7,543 39 
 
 13,492 24 
 
 14,277 86 
 
 1,843 00 
 
 $900,785 72 
 
 505,218 73 
 
 130,429 79
 
 1822.] 
 
 SECRETARY OF THE TREASURY. 
 
 MILITARY DEPARTMENT, VIZ : 
 
 Pay of the army - v fj 
 
 Subsistence 
 
 Forage 
 
 Clothing 
 
 Medical and hospital department - 
 
 Contingent expenses of War Department - 
 
 Ordnance department &0.-T . 
 
 Fortifications 
 
 Quartermaster's department 
 
 Military Academy at West Point - > - .' 
 
 Brigade of militia - 
 
 Surveys of ports and harbors 
 
 Medals for officers of the army 
 
 New roofs for the barracks at Carlisle 
 
 Arrearages of outstanding claims - 
 
 Maps, plans, <fcc. of War Office 
 
 Completing the road through Georgia 
 
 Relief of Gen. James Wilkinson 
 
 Joshua Newsom, and others 
 
 Elias Parks 
 
 John Anderson - 
 
 William Gvvyn , H ?lv.f. 
 
 William E. "Meek 
 
 Cornelius Huson 
 
 William Henderson 
 
 James Pierce 
 
 Greenberry H. Murphey - 
 Militia courts-martial, Col. Wood, President 
 Thos. C. Miller, do. 
 T. More & D. Fore do. 
 Gen. Steddiford do. 
 Repairs and contingencies of fortifications - 
 Fort Delaware 
 
 Fort Monroe '1'fipy rfi-vi" 
 
 Fort Washington - .. - ; 
 
 Fort Calhoun ?Vi>H. ;i^ 
 
 Fort at the Rigolets - 
 
 Barracks at Baton Rouge - ^ $ ^S-^ ' 
 Mobile Point - - - 
 
 Survey of the Ohio and Mississippi rivers - 
 Arsenal at Baton Rouge - - * . 
 
 Materials for a fort opposite to Fort St. Philip 
 Balance due to the State of Maryland 
 Relief of William Dooley ... 
 Relief of the Planters' Bank, New Orleans - 
 Bounties and premiums 
 Preservation of arms . * * ";r- 
 
 Army supplies - ... 
 
 $865.050 68 
 183,275 61 
 12,633 96 
 131,4:^5 33 
 13,409 83 
 4,017 33 
 263,539 28 
 111,108 87 
 318,201 98 
 2,492 43 
 10,693 28 
 3 50 
 4,080 00 
 3,500 00 
 108,652 10 
 140 22 
 321 01 
 2,926 59 
 647 80 
 2.284 00 
 1,300 00 
 47 50 
 1,279 87 
 250 00 
 2,765 CO 
 430 00 
 1,490 30 
 762 84 
 
 1.494 65 
 606 59 
 
 17,839 24 
 3.192 32 
 8^400 00 
 27.592 32 
 12,585 56 
 17,400 00 
 48,006 84 
 8,108 16 
 1,993 16 
 276 00 
 3,000 00 
 800 00 
 527 00 
 305 80 
 
 8.495 70 
 3,718 90 
 2,200 00 
 
 820 00 
 
 - 
 
 /. '. ": : .
 
 240 
 
 REPORTS OF THE 
 
 [1822 
 
 Expenses of arsenals 
 
 Repairing arms - - 
 
 Repairs of arsenals 
 
 Preservation of ammunition 
 
 Arming and equipping the militia 
 
 Gratuities, &c. 
 
 Armories - 
 
 Cannon, shot, &c. 
 
 Expenses of recruiting 
 
 Revolutionary pensions - 
 
 Military and half-pay pensions 
 
 Indian department 
 
 Civilization of the Indians 
 
 Annuities to Indians, per act 6th May, 1796 
 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 Do. 
 
 25th Feb. 1799 
 3d March, 1805 
 21st April, 1806 
 3d March, 1807 
 19th Feb. 1808 
 1st May, 1810 
 3d March, 1811 
 26th April, 1816 
 2d March, 1817 
 3d March, 1821 
 3d March, 1819 
 8th Jan., 1821 
 15th May, 1820 
 7th May, 1822 
 7th May, 1822 
 
 Treaties with the Creeks and Cherokees 
 Treaties with the Creeks - 
 Pay of Indian agents 
 Pay of sub-agents 
 Presents to Indians 
 
 From which deduct ihe following repay 
 ments, viz: 
 
 Expenses of recruiting $12,246 69 
 Balances due to certain States 120,433 26 
 Bounties and premiums 29,006 58 
 Mobile Point 12,550 00 
 Gratuities 15,469 15 
 Cannon, shells, <fec. 8,478 95 
 Arsenal at Baton Rouge - 4.690 29 
 Powder magazine at Frank- 
 ford, Pennsylvania 17 50 
 Survey of the Ohio and, 
 Mississippi rivers 1,251 60 
 
 $585 50 
 
 2,841 05 
 
 89 81 
 
 1,550 00 
 
 332,466 44 
 
 392 28 
 
 94,000 00 
 
 1,000 00 
 
 21 33 
 
 1,642,590 94 
 
 300,935 90 
 
 152,984 67 
 
 1,373 80 
 
 14,505 54 
 
 15.322 19 
 
 1,000 00 
 
 31,167 17 
 
 661 11 
 
 10,000 00 
 
 4,200 00 
 
 2,235 07 
 
 50 00 
 
 38,716 44 
 
 29,454 01 
 
 117,050 00 
 
 60,760 47 
 
 6,000 00 
 
 15,100 00 
 
 18,107 10 
 
 25,010 43 
 
 8,331 27 
 
 7,000 00 
 
 3,750 00 
 
 4,935 59 
 
 ho'
 
 [822.] SECRETARY OF THE TREASURY. 
 
 Survey of watercourses in 
 
 Mississippi $184 46 
 
 Relief of T.C. Withers - 18700 
 
 Relief of J.Harding 180 00 
 Boundary line between the 
 
 U. States and the Creeks 865 38 
 Boundary line of several 
 
 cessions 15.000 00 
 
 Claims against the Ossages 3,582 50 
 
 Arsenal at Watervliet - 324 69 
 Treaty with the Indians 
 
 in Mississippi - 3,610 93 
 
 - 
 
 $228,078 98 
 
 fcf-s 
 
 $4,930,210 68 
 
 NAVAL DEPARTMENT, VIZ : 
 
 Pay of the navy - 
 Provisions 
 Medicines 
 
 Repairs of vessels -- - 
 
 Ordnance 
 
 Freight and contingent expenses - 
 Navy yards 
 
 Superintendents, &c. . - 
 Laborers, <fcc. 
 Gradual increase 
 
 Pay and subsistence of the marine corps - 
 Clothing of the marine corps 
 Fuel for the marine corps 
 Quartermaster's stores, and contingencies 
 of the marine corps 
 
 From which deduct the following repay- 
 ments, viz : 
 Heads to which they apply 
 
 Purchase of timber - $11,584 67 
 
 Repairs of vessels damaged 
 in action - 
 
 Shot, shells, and military stores 
 
 Repairs of the Constellation 
 
 Seventy-fours and frigates - 
 
 Survey coast of North Caro- 
 lina 
 
 Widows and orphans of per- 
 sons on board the Epervier 
 
 Military stores, marine corps 
 
 TOL. ii. 16 
 
 430 38 
 
 7,481 70 
 10,825 15 
 
 533,071 56 
 
 113,649 99 
 
 10,476 42 
 
 217,279 59 
 
 822 81 
 
 141,062 54 
 
 34,663 75 
 
 19,225 71 
 
 9,703 01 
 
 425,483 09 
 
 48,192 43 
 
 26,277 50 
 
 724 95 
 
 15,990 13 
 
 57,670 60 
 
 1,538,952 88
 
 REPORTS OF THE [1822. 
 
 242 
 
 Interest, &c. domestic debt $4,163,656 47 
 
 Redemption of Louisiana stock -0$ 5,294 12 
 
 Reimbursement of Mississippi stock 23,388 94 
 
 Certain parts of domestic debt 438 99 
 
 Redemption of 6 per cent, stock of 179& - 80,000 00 
 Principal and interest of Treasury notes - 277 00 
 
 $4,273,055 52 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 14, 1822. 
 
 JOSEPH NOURSE, Register
 
 1822.1 SECRETARY OF THE TREASURY. 
 
 No. 1. 
 
 STA TEMENT of the funded debt of the United States, on the 1st 
 
 October, 1821. 
 
 Deferred stock, (unredeemed amount) - $1,783,257 66 
 Three per cent, stock - - 13,295,956 04 
 Six per cent, stock of 1796 80,000 00 
 Exchanged six per cent, stock of 1812 - 2,668.974 99 
 Louisiana six per cent, slock, amount un- 
 applied for 5,558 15 
 
 $17,833,746 84 
 
 Six per cent, stock of 1812 - 6,187,006 84 
 
 Six per cent, stock of 1813 (16 millions) - 15,521,136 45 
 
 Six per cent, stock of 1813 (7| millions) - 6.836,232 39 
 
 Six per cent, stock of 1814 ' - - 13,011,437 63 
 
 Six per cent, stock of 1815 - 9.490,099 10 
 
 Treasury note six per cent, stock , ( '-, j; 1,464,895 07 
 
 Treasury note seven per cent, stock 8,606,355 27 . 
 Five per cent, stock, (subscription to Bank 
 
 United States) ' - 7,000,000 00 
 
 Six per cent, stock of 1820 - 2,000,000 00 
 
 Five per cent, stock of 1820 999,999 13 
 
 Five per cent, stock of 1821 - 4,735,296 30 
 
 $93,686,205J)2 
 
 NOTE. The estimated amount, per No. 1 of the Secretary's 
 report of last year, was - $93,686,095 74 
 
 To which add this sum, then overestimated, as reimburse- 
 ment of deferred stock - - - - 109 28 
 
 Making, as above - $93,686,205 02 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 2, 1822. 
 
 JOSEPH NOURSE, Register.
 
 244 REPORTS OF THE [1822. 
 
 No. 2. 
 
 STA TEMENT of the debt of the United States, on the 1st of January, 
 
 1822. 
 
 Deferred stock, (unredeemed amount) - $1,526,077 06 
 Three per cent, stock - 13,295,956 04 
 
 Six per cent, stock of 1796 80,000 00 
 
 Exchanged six per cent, stock ol 1812 - 6,668,974 99 
 
 $17.571,008 09 
 
 Six per cent, stock of 1812 - 6,187,00684 
 
 Six per cent, stock of 1813 (16 millions) - 15,521,136 45 
 Six per cent, stock of 1813 pj millions) - 6.836,232 39 
 Six per cent, stock of 1814 - - 13,011,437 63 
 
 Six per cent, stock of 1815 - - 9,490,099 10 
 
 Treasury note six per cent, stock - 1,465,285 47 
 
 Treasury note seven per cent, stock - 8,606,355 27 
 Five per cent, stock, (subscription to Bank 
 
 United States) - - 7,000,000 00 
 
 Six per cent, stock of 1820 - 2,000,000 00 
 
 Five per cent, stock of 1820 - 999,99913 
 
 Five per cent, stock of 1821 - 4,735,296 30 
 
 75,852,848 58 
 
 $93,423,856 67 
 
 Amount of the debt, per statement No. 1, on 1st October, 
 
 1821 - - $93,686,205 02 
 
 Add Treasury note six per cent, stock, issued in the fourth 
 quarter of 1821 390 40 
 
 93,686,595 42 
 Deduct reimbursement of the deferred stock 
 
 on the 31st December, 1821 - - $257,180 60 
 
 And payment of Louisiana stock, which, on 
 the 1st of October, 1821, had not been 
 applied for 5,558 15 
 
 262,738 75 
 
 Amount, as above, on 1st January, 1822 - - $93,423,856 67 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 2, 1822. 
 
 JOSEPH NOURSE, Register.
 
 1822.] 
 
 SECRETARY OF THE TREASURY. 
 
 245 
 
 No. 3. 
 
 ESTIMATE of the funded debt of the United States, 1st October, 
 1822, and 1st January, 1823^ 
 
 On the 1st October, 1822: 
 
 Deferred stock, (unredeemed amount) - $1,225,097 04 
 Three per cent, stock - - 13,296,099 06 
 
 Exchanged 6 per cent, stock - - 2,668,974 99 
 
 Six per cent, stock of 1812 
 
 Six per cent, stock of 1813, (16 millions) 
 
 Six per cent, stock of 1813, (7^ millions) 
 
 Six per cent, stock of 1814 
 
 Six per cent, stock of 1815 
 
 Treasury note 6 per cent, stock - 
 
 Treasury note 7 per cent, stock - 
 
 Five per cent, stock, subscription to 
 
 Bank United States 
 Six per cent, stock of 1820 
 Five per cent, stock of 1820 
 Five per cent, stock of 1821 
 
 Amount - 
 
 Amount as stated, 1st January, 1822 - 
 Add three per cent, stock, issued since 
 
 Deduct reimbursement of deferred stock 
 Payment of the 6 per cent, stock of 
 1796 - 
 
 6,187,006 84 
 
 15,521,136 45 
 
 6,836,232 39 
 
 13,011,437 63 
 
 9490,099 10 
 
 1,465,285 47 
 
 8,606,355 27 
 
 7,000,000 00 
 
 2,000,000 00 
 
 999,999 13 
 
 4,735,296 30 
 
 $17,190,171 C9 
 
 75,852,848 58 
 
 - $93,043,019 67 
 
 - $93,423,856 67 
 
 143 02 
 
 $300,980 02 
 80,000 00 
 
 $93^423,999 69 
 
 380,980 02 
 - $93,043,019 67 
 
 As above, 1st October, 1822 - - l >iwi 
 
 Estimated amount of payments in fourth quarter, 1822 : 
 Reimbursement of deferred stock - $265,588 07 
 Payment of the 6 per cent, stock of 
 1820 - - - - >& - 2,000,000 00 
 
 2,265,588 07 
 
 Estimated amount of the debt, 1st January, 1823 - $90,777,431 60 
 
 NOTE. The following sums, included in the above statement; were sur- 
 rendered on the 1st October, and exchanged 5 per cent, stock issued in 
 lieu thereof, under the act of the 20th April, 1822, viz: 
 
 Six per cent, stock of 1813 - . - $46,704 77 
 
 Six per cent, stock of 1814 - 10,000 00 
 
 $56.704 77 
 
 TREA.SUE.Y DEPARTMENT, 
 
 Register's Office, December 2, 1822. 
 
 JOSEPH NOURSE. Register.
 
 246 REPORTS OF THE [1822. 
 
 No. 4. 
 EST1MA TE of the amount of Treasury notes. 
 
 Outstanding, 1st October, 1822 : 
 
 Total amount issued, (as per No. 4, of last report) $36,680,794 
 
 Cancelled and reported upon by the First Auditor 36,653,357 
 
 Outstanding $27,437 
 
 Of which, there appears to be in small notes $2,917 
 
 Notes bearing interest - 24,520 
 
 $27,437 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 2, 1822. 
 
 JOSEPH NOURSE, Register. 
 
 No. 5. 
 
 STATEMENT of stock issued under the act of Congress entitled "An 
 act supplementary to the act for the indemnification of certain claim- 
 ants of public lands in the Mississippi Territory, passed on the 3d 
 March, 1815. 
 
 Amount of claims awarded, as per statement No. 5 of 
 
 last report - - $4,282,151 
 
 Whereof, there was paid in for lands, 
 per last report -. - $2,442,535 39 ' 
 
 Paid in since - - - 5,000 00 
 
 - -- $2,447,535 39 
 Payments at the Treasury to the 30th 
 September, 1821, per said statement - $1,734,490 85 
 
 Payments at the Treasury from the 1st 
 October, 1821, to 30th September, 1&22 - 73,388 94 
 
 1,807,879 79 
 
 Balance, 1st October, 1822, consisting 
 of certificates outstanding $23,949 00 
 
 Awards not applied for - . - 2.786 94^ 
 
 -- J --- 1 26735 
 
 $4,282,151 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 2, 1822. 
 
 JOSEPH NOURSE, Register.
 
 1823.] SECRETARY OF THE TREASURY. 247 
 
 ..io wMfrj-^ml 3+iirt- ' 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER. 1823. 
 
 7 
 
 In obedience to the directions of the '' Act supplementary to the act to 
 establish the Treasury Department," the Secretary of the Treasury respect- 
 fully submits the following report : 
 
 I. OF THE PUBLIC REVENUE AND EXPENDITURE OF THE YEARS 1822 
 
 AND 1823. 
 
 The nett revenue which accrued from duties on imports 
 and tonnage, during the year 1822, amounted (see state- 
 ment A) to" - $20, 500,775 91 
 
 The actual receipts into the Treasury during the year 
 1822 amounted to b -- $20,232,427 94 
 
 Viz. 
 
 Customs, (statement A) - $17,589,761 94 
 
 Public lands, exclusive of Mississippi 
 stock, (statement D) - r 1,803,581 54 
 
 Dividends on stock in the Bank of the 
 United States 297,500 00 
 
 Arrears of internal duties and direct tax, 
 and incidental receipts, and repayments ,. 
 under act of 1st May, 1820, (statement E) 541.584 46 
 
 Making, with the balance in the Treasury on the 1st 
 of January, 1822, of 1,681,592 24 
 
 An aggregate of - $21,914,02018 
 
 The expenditures, during the year 1822, amounted 
 (statement F) to .-. 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $1,967,996 24 
 
 Military service, including fortifica- . 
 tions, ordnance, Indian department, revo- 
 lutionary and military pensions, arming 
 the militia, and arrearages prior to the 
 1st January, 1817 - 5,635,188 29 
 
 Naval service, including the gradual 
 increase of the navy - - 2,224,458 98 
 
 Public debt - - - ~ 7,848,94912 
 
 Leaving a balance in the Treasury, on the 1st January, 
 1823, of 
 
 The actual receipts into the Treasury 
 during tho first three quarters of the year 
 1823, are estimated to have amounted to $16,174,035 26 
 Viz. 
 
 Customs - - $15,019,392 74
 
 REPORTS OF THE [1823. 
 
 ''i^AaSFi :' .' L'rJT-j.i . 
 
 Public lands, exclusive of 
 
 Mississippi stock, (G) - $657,505 73 
 
 Dividends on stock in the 
 Bank of the United States - 350,000 00 
 
 Arrears of internal duties , 
 and direct tax, and incidental 
 receipts, (statement H) - 102,726 15 
 
 Repayments of advances 
 made in the War Department 
 for services or supplies prior to 
 ] st July, 1816, (statement H) 44.410 64 
 
 The actual receipts into the Treasury dur- 
 ing the fourth quarter, are estimated at - 4,270,000 00 
 
 Making the total estimated receipts into the Treasury, 
 during the year 1823 - $20,444,035 26 
 
 And with the balance in the Treasury, on the 1st of 
 
 January, 1823, forming an aggregate of - - 24,681,462 81 
 
 The expenditures during the first three quarters of 1823, 
 are estimated to have amounted to (I) $11,422,847 30 
 Viz. 
 
 Civil, diplomatic, and mis- 
 cellaneous - - $1,510,735 14 
 
 Military service, including 
 fortifications, ordnance, Indi- 
 an department, revolutionary 
 and military pensions, arming 
 the militia, and arrearages 
 prior to the 1st January. 1817 4.383,715 62 
 
 Naval service, including 
 gradual increase . - - 1,776,989 37 
 
 Public debt - 3,751,407 17 
 
 The expenditures during the fourth quar- 
 ter are estimated at - 3,894.55974 
 Viz, 
 
 Civil, diplomatic, and mis- 
 cellaneous - - $489,704 11 
 
 Military service, including 
 fortifications, ordnance, In- 
 dian department, revolution- 
 ary and military pensions, 
 arming the militia, and ar- 
 rearages prior to the 1st of 
 January, 1817 - 899,449 93 
 
 Naval service, including the 
 gradual increase of the navy 726,776 46 
 "Public debt . 1,778,629 24 
 
 Making the total estimated expenditure of the year 1823 15,317,407 00 
 
 And leaving in the Treasury, on the 1st of January, 1824, 
 an estimated balance of - - . $9,364,055 81
 
 1823.] SECRETARY OF THE TREASURY. 
 
 After deducting from this sum certain balances of appropriations, amount- 
 ing to $2.,897,036 47, which are necessary to effect the objects for which 
 they were severally made, or have been deducted from the estimates for the 
 service of the ensuing year, a balance of $6,466,969 30 remains; which, 
 with the receipts into the Treasury during the year 1824, constitutes the 
 means for defraying the current service of that year. 
 
 II. OF THE PUBLIC DEBT. 
 
 The funded debt, which was contracted before the year 1812, and which 
 was unredeemed on the 1st day of October, 1822, amounted (see statement 
 No. 1)10-^ -$17.189,85260 
 
 And that which was contracted subsequently to the 1st of 
 January, 1812, and was unredeemed on the 1st October, 
 1822, amounted (statement No. 1) to : 'r f ' - 75,852,848 58 
 
 Making the total amount of funded debt unredeemed on 
 the 1st October, 1822 - 93,042,701 18 
 
 In the fourth quarter of that year, there was paid the 
 sum of - - - - - ' - 2,265,673 32 
 
 Viz. 
 
 Reimbursement of six per cent, deferred 
 stock - $265,673 32 
 
 Redemption of six per cent, stock of 
 1820 : ---r -v ' ?V V< - - 2,000,000 00 
 
 Reducing the funded debt, on the 1st 
 
 January, 1823, (statement No. 2) to - - 90,777,027 86 
 
 From that day to the 1st October last, there was added 
 to the debt : 
 
 In three per cent, stock - $132 39 
 
 Treasury note six per cent, stock 1,561 87 
 
 Treasury note seven per cent, stock - 135 00 
 
 . 1,829 26 
 
 Making an aggregate of - 90,778,857 12 
 
 During the same period there was paid, in reimburse- 
 ment of the deferred six per cent, stock - - 327,022 88 
 
 Reducing the funded debt, on the 1st October, 1823, 
 (statement No. 3) to - 90,451,834 24 
 
 Since that day, there has been added, in Treasury note 
 six per cent, stock - - 716 75 
 
 Making an aggregate of - - 90,452,550 99 
 
 It is estimated that the reimbursement of deferred stock, 
 in the fourth quarter of the present year, will amount to - 274,588 85 
 
 Which will reduce the funded debt, unredeemed on the 
 1st January, 1824, to - 90,177,962 14 
 
 The amount of Treasury notes outstanding on the 1st 
 October, 1823, is estimated (No. 4) at - 26,122 00 
 
 And the amount of Mississippi stock unredeemed on that 
 day, (statement No. 5) at - - - 21,25887
 
 250 REPORTS OF THE [1823. 
 
 \^f 
 
 III. OF THE ESTIMATE OF THE PUBLIC REVENUE AND EXPENDITURE FOR 
 
 THE YEAR 1824. 
 
 It will be perceived that the actual receipts of the year 1823 agree, sub- 
 stantially, with the estimate presented in the last annual report. The only 
 deficiency is in the proceeds of the public lands; and that is understood 
 to have been the consequence of an expectation, generally entertained, that 
 the lands which were relinquished under the act of the 2d of March, 1821, 
 and which are supposed to present the strongest inducements to purchasers, 
 would be brought into market early in the ensuing year. With respect to 
 the customs, however, the anticipations that had been formed, both as to 
 the circumstances which were calculated to have an influence upon their 
 productiveness, and as to the results, have been completely realized. It is 
 believed, therefore, that data, founded upon the same principles as those 
 which governed in forming the estimate for the year 1823, may be satisfac- 
 torily presented as the basis of an estimate for the year 1824. 
 
 With this view, the Secretary has the honor to state 
 
 1st. That the gross amount of duties on imports and tonnage, which ac- 
 crued from the 1st January to the 30th September last, inclusive, is esti- 
 mated at $17,800,000; and that of the whole year, at $21,000,000. Of this 
 sum, that portion which accrued in the first half of the year is about 
 $1,000,000 less than that of the same period in the preceding year; and 
 that which accrued in the first three quarters of the year is estimated at 
 $1,700,000 less than that of the corresponding quarters of the preceding 
 year. 
 
 2d. That the debentures issued during the first three quarters of the year 
 1823 amounted to $3,412,000; which exceeds the amount issued during 
 the corresponding period of the year 1822 by $1,500,000 : and the amount 
 of debentures outstanding on the 30th of September last, and chargeable 
 upon the revenue of 1824. was $1,405,000; which is $500,000 more than 
 was, on the same day in 1822, chargeable upon the revenue of 1823. 
 
 3d. That the value of domestic articles exported from the United States, 
 in the year ending on the 30th September last, amounted to $47,155,711; 
 being $2,718,368 less than those exported in the year preceding: and the 
 value of foreign articles exported in the year ending on the 30th of Septem- 
 ber last was $27,530,469 ; being $5,244,267 more than those exported in 
 the preceding year. 
 
 4th. That the aggregate value of the imports into the United States, du- 
 ring the year ending on the 30th September last, is estimated at $77,486,432 : 
 which is less, by $5,755,109, than those imported in the preceding year. 
 
 5th. That the amount of custom-house bonds in suit, which on the 30th 
 September, 1820, was $3,130,000, was, on the same day in the year 1822, 
 $2,795,000; and in the year 1823, $2,817,000: whence it appears, that, 
 although a reduction of $313,000 had taken place during the whole period, 
 yet the amount in suit on the 30th September last was greater, by $22,000, 
 than on the same day of the year preceding. 
 
 Upon a consideration of all these facts, and the conclusions deducible from 
 them, the receipts from the customs in the year 1824 may be estimated at 
 816,500,000. 
 
 A considerable portion of the lands relinquished under the act of 2d 
 March, 1821, will be brought into market in the ensuing year ; but as it is yet 
 uncertain to what extent this may be deemed advisable, and as the sale of 
 these lands will probably absorb a great portion of the means of those who
 
 1823.] SECRETARY OF THE TREASURY. 251 
 
 are prepared to make investments in the public lands, it is considered pru- 
 dent not to estimate the receipts from this source of revenue at more than 
 1,600,000 dollars, although it is believed that they will exceed that sum. 
 
 Under these circumstances, the receipts of the year 1824 may be esti- 
 mated as follows : 
 
 Customs - - - $16,500,000 
 
 Public lands ' - 1,600,000 
 
 Bank dividends - 350,000 
 
 Incidental receipts, including arrears of 
 internal duties and direct tax 50,000 
 
 Repayments of advances made in the War 
 Department, for services or supplies prior to 
 1st July, 1816 50,000 
 
 Making together - - ", Lf* - $18,550,00000 
 
 To Avhich is to be added the sum of ; V 6,466,969 30 
 
 Remaining in the Treasury after satisfying all the appro- 
 priations chargeable upon the means of 1823 ; which makes 
 the entire means of 1824 amount to 25,016,969 30 
 
 The expenditures of the year 1824 are estimated as 
 follows : 
 
 Civil, diplomatic, and miscellaneous $1,814.057 23 
 
 Military service, including fortifications, 
 ordnance, Indian department, revolutionary 
 and military pensions, arming the militia, 
 and arrearages prior to 1st January, 1817 -5,122,268 15 
 
 Naval service, including the gradual in- 
 crease of the navy - * u< ! 2,973,927 51 
 
 Public debt ;>';, f . .'> r .'- i; -''-t 5,314,000 00 
 
 Making an aggregate of > 15,224,252 89 
 
 Which being deducted from the estimated means of 1824, 
 will leave in the Treasury on the 1st of January, 1825, after 
 satisfying the current demands of the year 1824, a balance 
 estimated at - - 9,792,716 41 
 
 Under the existing laws, there is no probability that any portion of the 
 balance remaining in the Treasury on the 1st January. 1824, or of the sur- 
 plus which may accrue during that year, can be applied to the discharge of the 
 public debt, until the 1st of January, 1825 : yet it is not deemed conducive 
 to the general prosperity of the nation that so large an amount should be 
 drawn from the hands of individuals, and sufTered to lie inactive in the 
 vaults of the banks. On the, other hand, the high rate of interest of the great 
 amount of debt which becomes redeemable on the 1st of January, 1825, 
 renders it inexpedient for the Government to apply to other objects any por- 
 tion of the means which it may possess of making so advantageous a reim- 
 bursement. It is believed, however, that every inconvenience may be obvi- 
 ated, if authority be given for the purchase of the seven per cent, stock, 
 amounting to 8,6 10,000 dollars during the year 1824, at such rates as may 
 be consistent with the public interest. As it is now certain that the Govern- 
 ment will possess ample means to redeem that stock on the 1st of January,
 
 . ^ . 
 
 252 REPORTS OF THE [1823. 
 
 1825, it is presumed that the holders will be willing to dispose of it, 
 during the interval, at a fair price ; and as a gradual conversion of it into 
 money, at such times and in such portions as would be most favorable to its 
 reinvestment, would be most advantageous to the moneyed transactions of the 
 community, it is presumed that it would be most acceptable to the holders. 
 
 It is therefore respectfully proposed, that the commissioners of the sink- 
 ing fund be authorized to purchase the seven per cent.' stock, during the 
 ensuing year, at the following rates above the principal sum purchased: 
 
 1st. For all stock purchased before the 1st of April next, at a rate not 
 exceeding $1 25 on every 100 dollars, in addition to the interest due on 
 such stock on that day. 
 
 2d. For all stock purchased between the 1st of April and 1st of July 
 next, at a rate not exceeding 75 cents on every 100 dollars, in addition to 
 the interest due on the last mentioned day. 
 
 3d. For all stock purchased between the 1st of July and 1st of October 
 next, at a rate not exceeding, on every 100 dollars, the amount of the interest 
 which would have accrued on the last mentioned day. 
 
 4th. For all stock purchased between the 1st October, 1824, and 1st Jan- 
 uary, 1825, the principal and interest due on the day of purchase. 
 
 In proposing to the consideration of Congress this application of the sur- 
 plus means of the years 1823 and 1824, the probable demands upon the 
 Government in providing for the awards of the commissioners under the 
 treaty with Spain, of the 22d February, 1819, have not been overlooked. 
 It is believed, however, that funds may be advantageously supplied for the 
 discharge of those claims, by the issue and sale, at not less than par, of five 
 per cent, stock, redeemable in 1832 ; and it is respectfully proposed that au- 
 thority be given for that purpose. 
 
 Of the 10,331,000 dollars of six per cent, stock, redeemable in 1825, 
 about five millions will probably be redeemed in that year; and there will 
 remain unredeemed, after the application of all the means at the disposal of 
 the commissioners of the sinking fund, about $5,331,000. This sum, it is 
 believed, may be readily exchanged for five per cent, stock, redeemable in 
 1833 ; and it is respectfully suggested that provision be made by law for such 
 an exchange of so much of the six per cent stock as shall not be redeemed 
 during the year 1825. 
 
 The views which are herein presented are founded upon the idea that no 
 extraordinary expenditure is to be incurred. If, however, it be deemed advisa- 
 ble to give increased extension or activity to the navy, or to aid in ob- 
 jects of internal improvement, it is believed that such additional means as 
 may be required may be obtained by a judicious revision of the tariff. 
 Such a measure was recommended in the last annual report, with a view 
 both to the increase of the revenue and the simplification of its collection ; 
 and further reflection and experience have tended to strengthen the opinion 
 then entertained, that its operation, without being onerous to the community, 
 would be advantageous to the revenue, salutary to commerce, and beneficial 
 to the manufactures of the country. 
 
 All which is respectfully submitted. 
 
 WILLIAM H. CRAWFORD. 
 
 TREASURY DEPARTMENT, 
 
 December 31, 1823. J \
 
 1823.] 
 
 SECRETARY OF THE TREASURY. 
 
 
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 254 
 
 REPORTS OF THE 
 B. 
 
 [1823. 
 
 A STA TEMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1822, 
 (consisting of the difference between articles paying duty, imported, 
 and those entitled to drawback, re-exported ;) and, also, of the nett re- 
 venue which accrued that year, from duties on merchandise, tonnage, 
 passports, and clearances. 
 
 MERCHANDISE PAYING DUTIES AD VALOREM. 
 
 918,557 dollars, at 7i per cent. 
 1C, 900,530 do. at 15 do. - 
 6,825,505 do. at 20 do. - 
 21,701,040 do. at 25 do. - 
 2,099,034 do. at 30 do. - 
 
 $68,891 77 
 2,535,080 40 
 1,365,101 00 
 5,425,260 00 
 629,710 20 
 
 / 
 
 ^10,024,043 37 
 10,921,897 84 
 
 48,444,672 do. at 20.69 per cent, average - 
 
 10,024,043 37 
 
 SPECIFIC DUTIES. 
 
 1 . Wines, 2 , 489 , 833 gallons, at 30 . 04 cents average 
 2. Spirits, 4,567,744 do. at 40. 47 do. average 
 Molasses, 12,357,372 do. at 5 da - 
 3. Teas, 5, 430 ,630 pounds, at 30.87 do. average 
 Coffee, 14,282,982 do. at J 5 do. - 
 4. Sugar, 76,952,438 do. at 1 3.08 do. average 
 5. Salt 3, 538, 323 bushels at 20 cents 
 6. All other articles 
 
 From which deduct 
 Duties refunded, &c., after deducting therefrom duties 
 on merchandise, the particulars of which were not 
 rendered by the collectors, and difference in calcu- 
 lation - 
 
 Add 
 21 per cent, retained on drawback - - 
 Extra duty on merchandise imported in foreign ves- 
 sels - 
 Interest on custom-house bonds 
 Storage received 
 
 Duties on merchandise 
 Duties on tonnage 
 Light money - - 
 
 Passports and clearances 
 
 Deduct 
 Drawback on domestic refined sugar - - 
 domestic distilled spirits 
 
 Gross revenue - 
 Expenses of collection -.-*'..- 
 
 Nett revenue, per statement A 
 
 747,996 35 
 2,040,412 90 
 617,868 60 
 1,676,247 91 
 714,149 10 
 2,374,768 24 
 707,664 60 
 2,042,790 14 
 
 81,804 68 
 
 33,689 42 
 20,054 97 
 6,470 80 
 
 20,945,941 21 
 
 + -'* 
 
 13,778 33 
 
 20,932,162 88 
 142,019 87 
 
 1147794 01 
 
 13,098 67 
 
 21,074,182 75 
 
 127,892 68 
 10,144 00 
 
 1,981 68 
 3,189 25 
 
 21,212,219 43 
 5,170 93 
 
 - 
 
 21,207,048 50 
 706,272 59 
 
 20,500,775 91
 
 1823.1 SECRETARY OF THE TREASURY 
 
 -. 'VXTl It T*. / 
 
 Explanatory Statements and Notes. 
 
 255 
 
 1. Wines- 
 Madeira 
 Burgundy, &c. - 
 Sherry and St. Lucar, &c. 
 Lisbon, Oporto. &c. - .; 
 Teneriffe, Fayal, &c. - ;> - 
 Claret, in bottles - { J^'J 
 All other >'*>- 
 
 2. Spirits- 
 Grain, 1st proof 
 2d do. - f, 4 - 
 3d do. '1 - 
 4th do. 
 5th do. 
 Other, 1st and 2d proof I 
 3d do. .- 
 4th do. 
 5th do. 7 
 Above 5th do. 
 
 3. Teas 
 Bohea - ' K < 
 Souchong 
 Hyson skin 
 Hyson and young hyson 
 Imperial 
 
 Extra duty on teas imported 
 from other places than China 
 
 "*'' 
 4. Sugar 
 Brown - - 
 White, clayed, &c. - 
 
 5. Salt- 
 Imported, 
 Exported, - bushels 
 Bounties and allowances, re- 
 duced into bushels - 
 
 119,875 gallons, at 100 cents , - 
 7,036 do. 100 do. * * 
 39,102 do. 60 do. '''-- 
 441,6-28 do. 50 do. 
 357,619 do. 40 do. 
 33,844 do. 30 do. 
 1,490,729 do. 15 do. 
 
 SI 19, 875 00 
 7,036 00 
 23,461 20 
 220,814 00 
 143,047 60 
 10,153 20 
 223,609 35 
 
 2,489,833 do. 
 
 747,996 36 
 
 634,572 gallons, at 42 cents 
 61,775 do. 45 do. 
 16,331 do. 48 do. 
 14,214 do. 52 do. 
 5,040 do. 60 do. 
 451,889 do. 38 do. 
 1,194,294 do. 42 do. 
 2,152,057 do. 48 do. 
 36,687 do. 57 do. 
 885 do. 70 do. 
 
 4,567,744 'do. 
 
 266,520 24 
 27,798 75 
 7,838 88 
 7,391 28 
 3,024 00 
 171,717 82 
 501,603 48 
 1,032,987 36 
 20,911 59 
 619 50 
 
 2,040,412 90 
 
 567,982 pounds, at 12 cents 
 958,601 do. 25 do. 
 1,814,306 do. 28 do. 
 1,848,495 do. 40 do. 
 241,246 do. 50 do. 
 
 68,157 84 
 239,650 25 
 508,005 68 
 739,398 00 
 120,623 00 
 
 5,430,630 do. 
 
 1,675,834 77 
 413 14 
 
 5,430,630 do. 
 
 1,676,247 91 
 
 70,332,928 pounds, at 3. cents 
 6,619,510 do, 4 do. 
 
 2,109,987 84 
 264,780 40 
 
 76,952,438 do. 
 
 2, 374.76S 24 
 
 bushels 4,345,326, at 20 cents 
 39,302 
 
 767,701 
 807,003, at 20 cents 
 
 869,065 30 
 161,400 60 
 
 3,538,323 bushels - 
 
 707,664 60 
 
 \ '-'> ''.-'- / 
 ... ' '. .\\ ~^\ *' **l t<*d* *a ,.->*, ~hi \.'&a~-&r< 
 
 .'&& 000 i ,-j'i- >$]*!>*<'!! ,.'>A,df>j<} ,=rrf ; j
 
 256 REPORTS OF THE 
 
 Explanatory statements and notes Continued. 
 
 [11825. 
 
 6. All other articles. 
 
 (Quantity. 
 
 Rate of 
 duty. 
 
 Duties. 
 
 V ' . 
 
 
 
 Cents. 
 
 
 Duck, Russia - 
 
 pieces 
 
 43.281 
 
 200 
 
 886,562 00 
 
 Ravens - - - 
 
 do.. 
 
 43,356 
 
 125 
 
 54,195 00 
 
 Holland - 
 
 do. 
 
 1,624 
 
 250 
 
 4,060 00 
 
 Sheeting, brown, Russia 
 
 do. 
 
 10,744 
 
 160 
 
 17,190 40 
 
 white, Russia 
 
 do. 
 
 1,325 
 
 250 
 
 3,312 50 
 
 Beer, ale, and porter, in bottles 
 
 gallons 
 
 104,902 
 
 15 
 
 15,735 30 
 
 in casks ' . 
 
 do. 
 
 7,114 
 
 10 
 
 711 40 
 
 Oil, spermaceti 
 
 do. 
 
 1,868 
 
 25. 
 
 467 00 
 
 whale, and other fish > - ' : ' 
 
 da 
 
 2,819 
 
 15 
 
 422 85 
 
 olive, in casks 
 
 do. 
 
 19,439 
 
 25 
 
 4,859 75 
 
 Cocoa - . - 
 
 pounds 
 
 358,297 
 
 2 
 
 7,165 94 
 
 Chocolate 
 
 do. 
 
 1,230 
 
 3 
 
 36 90 
 
 Sugar, candy - - ... 
 
 dp. 
 
 3,911 
 
 12 
 
 469 32 
 
 loaf - 
 
 do. 
 
 515 
 
 12 
 
 61 80 
 
 other refined, and lump 
 
 .do. 
 
 342 
 
 10 
 
 34 20 
 
 Fruits almonds ... 
 
 do. 
 
 371,135 
 
 3 
 
 11,134 05 
 
 currants 
 
 do. 
 
 i 123,736 
 
 3 
 
 3,712 08 
 
 prunes and plums 
 
 do. 
 
 123,782 
 
 3 
 
 3,713 46 
 
 figs 
 
 do. 
 
 380,304 
 
 3 
 
 11,409 12 
 
 raisins, jar and muscatel 
 
 do. 
 
 2,592,784 
 
 3 
 
 77,783 52 
 
 other - - 
 
 do. 
 
 3,106,616 
 
 2 
 
 62,132 32 
 
 Candles, tallow - . 
 
 do; 
 
 26,127 
 
 3 
 
 783 81 
 
 wax and spermaceti - 
 
 do. 
 
 117 
 
 6 
 
 7 02 
 
 Cheese - - - - , 
 
 do. 
 
 56,789 
 
 9 
 
 5J11 01 
 
 Soap - - - 
 
 do. 
 
 144,355 
 
 3 
 
 4,330 65 
 
 Tallow - - - 
 
 do. 
 
 1,894,156 
 
 1 
 
 18,941 56 
 
 Spices mace - - 
 
 do. 
 
 769 
 
 100 
 
 769 00 
 
 nutmegs 
 
 dp. 
 
 20,308 
 
 60 
 
 12,184 80 
 
 cloves - 
 
 do. 
 
 26,775 
 
 25 
 
 6,693 75 
 
 pepper 
 
 do. 
 
 315,033 
 
 8 
 
 25,202 64 
 
 pimento 
 
 do. 
 
 828,243 
 
 6 
 
 49,694 58 
 
 cassia 
 
 do. 
 
 111,615 
 
 6 
 
 6,696 90 
 
 Tobacco, manufactured, other than snuff, &c. 
 
 do. 
 
 2,953 
 
 10 
 
 295 30 
 
 Snuff - - 
 
 do. 
 
 3,584 
 
 12 
 
 430 08 
 
 Indigo - - 
 
 do. 
 
 384,412 
 
 15 
 
 57,661 80 
 
 Cotton - 
 
 do. 
 
 87,042 
 
 3 
 
 2,611 26 
 
 Gunpowder' 
 
 do. 
 
 123,088 
 
 8 
 
 9,847 04 
 
 Bristles - - 
 
 do. 
 
 177,485 
 
 3 
 
 5,324 55 
 
 Glue - 
 
 do. 
 
 28,887 
 
 5 
 
 1,444 35 
 
 Paints ochre, dry - ... 
 
 do. 
 
 1,430,414 
 
 1 
 
 14,304 14 
 
 in oil - 
 
 do. 
 
 62,157 
 
 II 
 
 932 35 
 
 white and red lead - - - 
 
 do. 
 
 3,650,563 
 
 3 
 
 109,516 89 
 
 Whiting, and Paris white 
 
 do. 
 
 350,559 
 
 1 
 
 3,505 59 
 
 Lead, bar, pig, and sheet ... , i. 
 
 do. 
 
 3,076,990 
 
 1 
 
 30,769 90 
 
 manufactured into shot ... 
 
 do. 
 
 1,611,971 
 
 2 
 
 32,239 42 
 
 Cordage, tarred, and cables ... 
 
 do. 
 
 299,541 
 
 3 
 
 8,986 23 
 
 untarred - ... 
 
 do. 
 
 262,686 
 
 4 
 
 10,507 4t 
 
 twine - - - 
 
 do. 
 
 395,284 
 
 4 
 
 15,811 36 
 
 Copper, rods and bolts - 
 nails and spikes 
 
 do. 
 do. 
 
 62,546 
 28,731 
 
 4 
 4 
 
 2,501 84 
 1,149 24 
 
 Wire, iron and steel, not above No. 18 
 
 do. 
 
 590,165 
 
 5 
 
 29,508 25 
 
 above No. 18 r 
 
 do. 
 
 248,671 
 
 9 
 
 22,380 39 
 
 Iron tacks, brads, &c., not above 16 oz. per 
 
 
 
 
 
 1,000 - 
 
 M. 
 
 43,374 
 
 5 
 
 2,168 70 
 
 tacks, brads, &c., above 16 oz. per 1,000 
 
 do. 
 
 1,006 
 
 4 
 
 40 24 
 
 nails ..... 
 
 pounds 
 
 930,517 
 
 4 
 
 37,220 68 
 
 spikes - 
 
 do. 
 
 147,859 
 
 3 
 
 4,435 77 
 
 anchors 
 
 do. 
 
 127,782 
 
 2 
 
 2,555 64
 
 1S23.J SECRETARY OP THE TREASURY. 
 
 Explanatory statements and notes Continued. 
 
 257 
 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Iron pig 
 
 cwt. 
 
 27,605 
 
 50 
 
 $13,352 50 
 
 castings - - - 
 
 do. 
 
 12,984 
 
 75 
 
 9,738 00 
 
 bar, rolled 
 
 do. 
 
 99,297 
 
 150 
 
 148,945 50 
 
 hammered - 
 
 do. 
 
 530, 172 
 
 75 
 
 397,629 00 
 
 sheet, rod. hoop, &c. - - 
 
 do. 
 
 35,620 
 
 250 
 
 89,050 00 
 
 Steel - - - - 
 
 do. 
 
 IS, 403 
 
 100 
 
 18,403 00 
 
 Hemp - - 
 
 do. 
 
 196,117 
 
 150 
 
 294,175 50 
 
 Alum - - 
 
 do. 
 
 3,150 
 
 200 
 
 6,300 00 
 
 Copperas 
 
 do. 
 
 . 16,308 
 
 100 
 
 16,308 00 
 
 Coal - - V-" - ~~- 
 
 bushels 
 
 992,693 
 
 5 
 
 49,634 65 
 
 Fish dried or smoked - ._ 3.- 
 salmon, pickled - 
 
 quintals 
 barrels 
 
 1,474 
 1,509 
 
 100 
 200 
 
 1,474 00 
 3,018 00 
 
 mackerel, pickled 
 
 do. 
 
 204 
 
 150 
 
 306 00 
 
 other - 
 
 do. 
 
 156 
 
 100 
 
 156 00 
 
 Glass bottles, black quart 
 
 gross 
 
 16,734 
 
 144 
 
 24,096 96 
 
 window, not above 8 by 10 
 
 100 sq. feet 
 
 1,959 
 
 250 
 
 4,897 50 
 
 10 by 12 - 
 
 do. 
 
 886 
 
 275 
 
 2,436 50 
 
 above 10 by 12 
 
 do. 
 
 2, r 54 
 
 325 
 
 8,300 50 
 
 Boots - T-S . - -ns~ 
 
 pairs 
 
 105 
 
 150 
 
 157 50 
 
 Shoes and slippers silk 
 
 do. 
 
 3,383 
 
 30 
 
 1,014 90 
 
 leather, men's, &c. 
 
 do. - 
 
 5,977 
 
 25 
 
 1,494 25 
 
 children's 
 
 do. 
 
 1,755 
 
 15 
 
 263 25 
 
 Segars -'-_-' 
 
 M. 
 
 19,984 
 
 250 
 
 49,960 00 
 
 Playing cards - - 
 
 packs 
 
 846 
 
 30 
 
 253 
 
 
 
 
 
 2,043,098 39 
 
 Deduct exportation over importation, viz 
 
 
 
 
 
 Cinnamon 
 
 . ' 
 
 1,233 
 
 25 
 
 308 25 
 
 
 
 
 
 2,042,790 14 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 19, 1823. 
 
 JOSEPH NOURSE, Register. 
 
 VOL. ii 17 
 
 
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 REPORTS OF THE 
 
 [1823. 
 
 
 E 
 
 >S TA TEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, during the year 1822. 
 
 From arrears of old internal revenue 
 direct tax of 1798 - 
 new internal revenue 
 new direct tax 
 
 dividends on stock in the Bank of the United States - 
 fees on letters patent - 
 postage of letters] 
 cents coined at the mint 
 fines, penalties, and forfeitures 
 vessels, &c. condemned under the acts prohibiting the 
 
 slave-trade - 
 
 gunboats sold, per act of 27th February, 1815 
 interest on balances due by banks to the United States 
 moneys previously advanced on account of roads, un- 
 der the treaty of Brownstown , 
 Do. military pensions 
 
 Do. third census - ' i- 
 
 Do. furniture for President's house 
 
 Do. prize causes - 
 
 Do. old Spanish treaty - \>;f : 
 
 Do. balances of advances made \n War 
 
 Department, repaid under 3d section 
 of act of 1st May, 1820 
 
 Do. balances of appropriations for the War 
 
 Department, repaid under 2d section 
 of act of 1st May, 1820 
 
 Do. balances of appropriations for the Navy 
 
 Department, repaid under 2d section 
 of act of 1st May, 1820 - '' 
 
 11 
 
 863 22 
 
 67,544 60 
 
 20,098 34 
 
 297,500 00 
 
 6,000 00 
 
 602 04 
 
 13,054 00 
 
 173 72 
 
 1.507 86 
 '381 58 
 543 72 
 
 578 21 
 
 2,087 29 
 
 12 84 
 
 1,557 65 
 
 675 00 
 
 350 00 
 
 71,981 82 
 84,282 16 
 
 267,169 30 
 839,084 46 
 
 TREASURY DEPARTMENT, 
 
 Register's Office. 
 
 JOSEPH NOURSE, Register, 
 
 ''-$ 
 
 iV "* * 
 
 fe" \-i 
 III 
 
 .'*'
 
 SECRETARY OF THE TREASURY. 
 
 261 
 
 F. 
 
 . .-. '..,-. & ' -r 
 
 STA TEMENT of the expenditures of the United States for the year 
 
 1822. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZI 
 
 Legislature - 
 Executive Departments 
 Officers of the mint - 
 Surveying department 
 Commissioner of the Public Buildings 
 Governments in the Territories of the 
 United States r *3? 
 Judiciary 
 
 Annuities and grants - 
 Mint establishment - 
 Unclaimed merchandise 
 Light-house establishment - 
 Surveys of public lands 
 Privateer pension fund 
 Appropriation of prize money - 
 Trading-houses with the Indians ' '* 
 Road from Cumberland to Ohio " ^- y 
 Roads within the State of Ohio 
 Roads within the State of Indiana 
 Roads within the State of Alabama - 
 Marine hospital establishment 
 Public buildings in Washington 
 Florida claims 
 
 Payment of claims for property lost - | 
 Building custom-houses 
 Payment of balances due to officers of 
 old internal revenue and direct tax 
 
 Payment of balances due to collectors of 
 new internal revenue - 
 
 Prohibition of the slave trade 
 Prisoners of war 
 
 Refunding duties on distilled spirits - 
 Surveys of the coast of Florida 
 Payment of certain certificates 
 Miscellaneous claims - 
 Printing the journal and proceedings 
 of the convention which formed the con- 
 stitution of the United States 
 
 Diplomatic department 
 
 Contingent expenses of foreign inter- 
 course - 
 
 Relief and protection of American sea- 
 men 
 
 Treaty of Ghent 
 
 $455,356 60 
 449,465 85 
 9,600 00 
 11,044 46 
 2.553 08 
 
 12,124 00 
 
 217,987 59 
 
 2,007 13 
 
 17,150 00 
 
 857 79 
 
 145,951 76 
 
 115,922 83 
 
 1,221 62 
 
 634 20 
 
 9,570 60 
 
 3,904 77 
 
 3,257 54 
 
 32,629 46 
 
 800 
 
 44,324 61 
 
 126,859 18 
 
 141 17 
 
 55 00 
 
 1,319 26 
 
 3,234 82 
 
 499 69 
 
 25,395 42 
 
 1,889 87 
 
 95 62 
 
 3,150 00 
 
 2,109 22 
 
 101,461 03 
 
 542 56 
 
 86,014 78 
 23,648 88 
 
 13,660 40 
 14,742 24 
 
 
 1,158.131 58 
 
 a 
 
 ;A 
 
 644.985 15
 
 262 
 
 REPORTS OF THE 
 
 [1823, 
 
 Treaty with Spain - 
 
 Treaties with Mediterranean powers - 
 
 $25,770 21 
 1,043 00 
 
 $164.879 51 
 
 MILITARY DEPARTMENT, VIZ : 
 
 Pay of the army - - - 1,078,742 7 9 
 
 Subsistence - 235,442 47 
 
 Forage 14,347 1& 
 
 Clothing 172,937 60 
 
 Medical and hospital department 14,909 83- 
 
 Contingent expenses - 6 r 028 38 
 
 Ordnance department 263,553 78 
 
 Fortifications 110,795 83 
 Repairs and contingencies of fortifications 3,956 52 
 
 Fort Delaware 15,000 00 
 
 Fort Monroe - 39,640 94 
 
 Fort Washington 18,766 70 
 
 Fort Calhoun 30,000 00 
 
 The Rigoiete 77,450 00> 
 
 Barracks at Baton Rouge 8,108 16 
 Materials for a fort opposite to Fort St. 
 
 Philip 30,000 00 
 
 Quartermaster's department - 387,422 69 
 
 Military Academy, West Point 9,589 42 
 
 Brigade of militia - 11,58001 
 
 Surveys of ports and harbors 3 50 
 
 Medals for officers of the army 4,830 00 
 
 New roof for barracks at Carlisle - 3,500 00 
 
 Arrearages - 114,245 09 
 
 Maps, plans, &c. for War Office 140 22 
 
 Completing road through Georgia - 321 01 
 Militia courts-martial, viz : 
 
 Col. Wood, president 762 84 
 
 Thomas a Miller, do. 1,494 65 
 
 T. More and D. Fore, do. 60& 59 
 
 Gen. Steddiford, do, 17,839 24 
 
 Balance due to the State of Maryland 527 00 
 
 Preservation of arms -. 3,298 00 
 
 Army supplies 1,244 67 
 
 Expenses of arsenals - '-'. 1,30781 
 
 Repairs of arsenals - - 324 77 
 
 Repairing arms - 5,791 05 
 
 Preservation of ammunition - ;. _,-,,., 3,20342 
 
 Arming and equipping rnilitia - . ^ 386,687 78 
 
 Armories 199,000 00 
 
 Relief of Gen. James Wilkinson 2,926 59 
 
 Joshua Newsom, and others 647 80 
 
 Elias Parks - 2,284 00 
 
 John Anderson ' -': 1,300 00 
 
 William Gvvynn - r ; r . 47 50 
 
 William E. Meek - 1,279 87 
 
 Cornelius Huson - - 250 00 
 
 William Henderson - - 2,765 00
 
 1823.] 
 
 SECRETARY OF THE TREASURY. 
 
 263 
 
 Relief of James Peirce - $430 00 
 
 Greenbury H. Murphy 1,490 30 
 
 William Dooly 305 80 
 
 Planters' Bank of New Orleans - 8,495 70 
 
 Matthew McNair 1,776 25 
 
 Samuel Walker 266 64 
 
 Officers, &c. in the Seminole .- Alf 
 
 campaign 90 00 
 
 Revolutionary pensions - 1,642,590 94 
 
 Military and half-pay pensions 3.05,608 46 
 
 Indian department (contingencies) 156,492 33 
 
 Civilization of Indians - 3,127 96 
 
 Treaties with the Creeks and Cherokees - 25,010 43 
 
 Treaties with the Creeks - 13,331 27 
 
 Pay of Indian agents - 7,375 00 
 
 Pay of Indian sub-agents 3,866 66 
 
 Presents to Indians - 5,085 59 
 
 Annuities to Indians, per act 6th May, 1796 14,505 54 
 
 Annuities to Indians, per act 25th Feb. 1799 15,322 19 
 
 Annuities to Indians, per ct 3d March. 1805 1,000 00 
 
 Annuities to Indians.per act 21st April, 1806 31,167 17 
 
 Annuities to Indians, per act 3d March, 1807 661 11 
 
 Annuities to Indians, per act 10th Feb., 1808 10,000 00 
 
 Annuities to Indians, per act 1st May, 1810 4,200 00 
 
 Annuities to Indians, per act 3d March. 1811 2,235 07 
 
 Annuities to Indians.per act 26th April 7 1816 - 50 00 
 
 Annuities to Indians, per act 3d March, 1817 38,716 44 
 
 Annuities to Indians, per act 3d March,1819 117,050 00 
 
 Annuities to Indians, per act 15th May, 1820 6,000 00 
 
 Annuities to Indians, per act 3d March, 1821 29,454 01 
 
 Annuities to Indians, per act 8th Jan., 1821 60.760 47 
 
 Annuities to Indians, per act 7th May, 1822 15,100 00 
 
 Annuities to Indians, per act 7th May, 1822 18,107 10 
 
 5.824.573 11 
 
 From which deduct the following repayments, viz : 
 
 Expenses of recruiting - $11,93225 
 
 Balances due to certain States 104,887 54 
 
 Bounties and premiums - 20,700 32 
 
 Mobile Point - - 10,556 84 
 
 Gratuities - ' - 15,450 80 
 
 Cannon, shot, shells, &c. 378 95 
 
 Powder magazine at Frank- 
 ford, Pennsylvania - 17 50 
 
 Survey of the Ohio and Mis- 
 sissippi rivers - 975 60 
 
 Survey of the watercourses, 
 Mississippi 1 ; 059 21 
 
 Boundary line between the 
 United States and the Creeks - 865 38 
 
 Boundary line of Indian ces- 
 sions - - 15,000 00 
 
 Claims asrainst the Osages - 3,582 50 
 
 O O ' 
 
 ; 
 
 if, 
 

 
 264 
 
 REPORTS OF THE 
 
 [1823. 
 
 Treaty with the Indians in 
 Mississippi - -'- 
 Relief of T. C. Withers 
 Relief of J. Harding 
 
 $3,610 93 
 
 187 00 
 180 00 
 $189,384 82 
 
 NAVAL DEPARTMENT, VIZ : 
 
 Pay of the navy - - 771,30038 
 
 Provisions- - - 200,523 46 
 
 Medicines - - 17.241 30 
 
 Repairs of vessels - . - 294,384 86 
 
 Ordnance - 3,953 14 
 
 Freight and contingent expenses - ' .' 187,603 29 
 
 Navy yards 34,578 90 
 
 Superintendents. &c. 26,132 48 
 
 Laborers, &c. J 9,781 36 
 
 Gradual increase - - 556,323 88 
 
 Suppression of piracy 12,415 00 
 Pay and subsistence of the marine corps - 87,929 53 
 
 Clothing of the marine corps '.' 31,288 02 
 
 Fuel for the marine corps - 6,084 98 
 Quartermaster's stores, and contingencies of 
 
 the marine corps 20.256 60 
 
 2,259,796 18 
 From which deduct the following repayments, viz: 
 
 Purchase of timber - - 11,45082 
 
 Repairs of vessels damaged in 
 
 action - 984 00 
 
 Shot, shells, and military stores 4,035 95 
 
 Repairs of the Constellation - 450 00 
 
 Seventy-fours and frigates f'^ 4 00 
 
 Survey of the coast of North 
 
 Carolina 430 38 
 
 Widows and orphans of per- 
 sons on board of the Epervier - 7,481 70 
 
 Military stores, marine corps - 10,500 35 
 
 $5,635,i 88 29 
 
 
 35,337 20 
 
 2.224,458 98 
 
 PUBLIC DEBT, VIZ : 
 
 Interest, &c. of domestic debt - 5,739,760 62 
 
 Redemption of Louisiana stock - 5,294 12 
 
 Reimbursement of Mississippi stock 23,388 94 
 
 Certain parts of domestic debt 228 44 
 
 Redemption of six per cent, stock of 1796 - 80,000 00 
 Redemption of funded 6 per ct. stock of 1820 2,000,000 00 
 Principal and interest of Treasury notes '*!-" 277 00 
 
 7,848,949 12 
 
 . 
 
 $17,676,592 63 
 
 TREASURY DEPARTMENT, Register's Office. 
 
 JOSEPH NOURSE, Register. 

 
 L883.J 
 
 SECRETARY OF THE TREASURY. 
 
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 SECRETARY OF THE TREASURY. 
 H. 
 
 267 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, from 1st January to 30/A r 
 tember, 1823. 
 
 From arrears of old internal revenue - ><*-s 
 
 direct tax of 1798 
 
 new internal revenue 'tn&~\ 
 
 new direct tax 
 
 dividend on stock in the Bank of the United States - 
 fees on letters patent 
 cents coined at the mint 
 fines, penalties, and forfeitures 
 moneys received under the act to abolish the United 
 
 States trading establishments --^xio 
 postage of letters 
 
 returned passage money of American seamen ^V 
 surplus emoluments of officers of the customs 
 balances of advances made in the War Department, 
 repaid under 3d section of the act of 1st of May, 
 1820 
 moneys previously advanced on account of the fourth 
 
 census 
 moneys advanced on account of military pensions 
 
 
 $73 96 
 
 108 00 
 
 26,632 42 
 
 8,581 81 
 
 350,000 00 
 
 3,510 00 
 
 5,280 00 
 
 10-00 
 
 32,500 00 
 
 110 69 
 
 20 00 
 
 20,891 59 
 
 44,410 64 
 
 3,178 84 
 
 1,828 84 
 
 $497,136 79 
 
 TREASURY DEPARTMENT, 
 
 Registers Office, December, 1823. 
 
 JOSEPH NOURSE, Register. 
 
 1-R3 1 
 
 
 
 *S 
 
 , ; <r
 
 268 
 
 REPORTS OF THE 
 
 [1823 
 
 I. 
 
 STATEMENT of the expenditures of the. United States, from the 1st 
 of January to the 30th September, 1823. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ: 
 
 Legislature 
 
 Executive department 
 
 Officers of the mint 
 
 Commissioner of the Public Buildings 
 
 Surveying department 
 
 Governments in the Territories of the United 
 
 States 
 Judiciary 
 
 Annuities and grants 
 
 Mint establishment 
 
 Unclaimed merchandise 
 
 Light-house establishment 
 
 Surveys of public lands 
 
 Boundary lines between Missouri and Arkansas 
 
 Land claims in Florida Territory 
 
 Adjustment of land claims in Michigan Terri- 
 tory 
 
 Road from Cumberland to Ohio 
 
 Repairing road from Cumberland to Ohio 
 
 Roads within the State of Indiana . * r.:- 
 
 Marine hospital establishment 
 
 Public buildings in Washington 
 
 Apartments in the City Hall for the circuit court 
 of the United States 
 
 Monument over the tomb of Elbridge Gerry, 
 late Vice President of the United States 
 
 Rebuilding public wharf and repairing public 
 stores at Staten Island 
 
 Purchase of the 6th volume of the Laws of the 
 United States 
 
 Payment of certain certificates 
 
 Payment of balances to collectors of new inter- 
 nal revenue 
 
 Payment of balances to officers of old internal 
 revenue and direct tax 
 
 Prohibition of the slave trade 
 
 Payment of claims for property lost 
 
 Additional Commercial Digest 
 
 Miscellaneous expenses 
 
 Roads and canals in the State of Missouri 
 
 $257,221 42 
 
 364,125 39 
 
 7,200 00 
 
 1,125 00 
 
 ' 9,566 66 
 
 17,539 38 
 143.188 83 
 
 1,800 00 
 
 10,139 12 
 
 334 59 
 
 116,043 86 
 
 119,635 98 
 
 2,536 00 
 
 2,497 14 
 
 500 00 
 
 5,289 48 
 
 3,000 00 
 
 17,857 84 
 
 30,606 66 
 
 82,200 00 
 
 10,000 00 
 
 1,000 00 
 
 13,499 00 
 
 2,200 00 
 18 59 
 
 203 72 
 
 2,027 67 
 
 2,682 08 
 
 100 00 
 
 1,000 00 
 
 60,331 91 
 
 4,729 14 
 
 $799,966 68 
 
 490,232 78
 
 1823.] 
 
 SECRETARY OF THE TREASURY. 
 
 269 
 
 Diplomatic department 
 Contingent expenses of foreign intercourse 
 Relief and protection of American seamen 
 Treaty of Ghent (4th, 6th, and 7th articles) 
 Treaty with Spain - - 
 
 Missions to the independent nations on the 
 
 American continent 
 Treaty of Ghent (1st article) 
 Treaties with Mediterranean powers 
 
 $95,505 56 
 
 21,862 10 
 
 7,807 07- fciaJ. 
 
 10,269 00 
 
 18,559 85 
 
 63,270 00 
 2,072 22 
 1,189 88 
 
 $220.535 68 
 
 MILITARY DEPARTB1ENT, VIZ : 
 
 Pay of the army 
 
 Subsistence . % > 
 
 Forage - WQ %1r 
 
 Clothing 
 
 Medical and hospital department 
 
 Contingencies ty* 
 
 Ordnance 
 
 Quartermaster's department 
 
 Fortifications (repairs and contingencies of) 
 
 Fort Monroe -f . 
 
 Fort Calhoim 'o> Sir- 
 Fort Washington 
 
 Fort Delaware - 
 
 Fort at Mobile Point 
 
 Military Academy, West Point 
 
 Brigade of militia !?j*.li 
 
 Medals for officers 
 
 Arrearages 
 
 Balances due to certain States 
 
 Preservation of arms 
 
 Repairing arms 
 
 Preservation of ammunition 
 
 Army supplies cS- 
 
 Repairs of arsenals {**%! 
 
 Arming and equipping militia 
 
 Gratuities 
 
 Armories 
 
 Expenses of recruiting 
 
 Militia court-martial, New York 
 
 Militia court-martial, Pennsylvania ^?3G 
 
 Relief of James Morrison 
 
 Relief of Eleanor Lawrence 
 
 Relief of Mahlon Ford - 
 
 Relief of Colonel Lawrence & others 
 
 Relief of officers, &c. of the Seminole cam- 
 paign 
 
 Barracks at Baton Rouge - ; 
 
 Purchase of woollens ... 
 
 Materials for a fort on the right bank of 
 the Mississippi 
 
 $736,790 09 
 208,937 44 
 35,817 05 
 96,357 43 
 14,680 12 
 12,305 95 
 24,967 83 
 186.896 47 
 22,672 01 
 74^56 49 
 78,343 59 
 24,971 93 
 31.500 00 
 56,050 00 
 8,559 38 
 794 56 
 2,400 00 
 47,026 61 
 6,841 50 
 42 24 
 418 95 
 1,374 87 
 2.231 20 
 155 23 
 177,054 71 
 4,210 05 
 222,541 77 
 7,037 42 
 2,487 74 
 152 80 
 17,335 03 
 1,070 00 
 306 66 
 70 12 
 
 
 K-mi A 
 
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 39,202 32 
 17,418 18 
 52,659 05 
 
 15,675 79
 
 270 
 
 REPORTS OF THE 
 
 [1823. 
 
 Road from Plattsburg to Sackett's Harbor $2,150 00 
 
 Ransom of American captives 1,763 90 
 
 The Rigolets - - 20,475 00 
 
 Arsenals - 21,061 08 
 
 National armory on the western waters 1,500 00 
 
 Maps, plans, &c. for War Office - 10 00 
 
 Materials for a fort opposite Fort St. Philip 697 20 
 Revolutionary pensions - 1,449,466 45 
 
 Invalid and half-pay pensions, - - 329,779 95 
 
 Contingencies of Indian department - - 56,304 89 
 
 Civilization of Indians 9,031 17 
 
 Pay of Indian agents - - 17,259 19 
 
 Pay of sub-agents 8,505 29 
 
 Presents to Indians - 8,782 17 
 
 Treaty with the Creeks - 18,37993 
 
 Treaty with the Choctaws - 600 00 
 
 Saginaw treaty 2,000 00 
 
 Treaty of Chicago - 1,050 00 
 
 Purchase of Creek and Cherokee reservations 34,500 00 
 
 Annuities to Indians, per act of 6th May, 1796 9,000 00 
 
 Annuities to Indians, per act of 25th Feb. 1799 19,262 93 
 
 Annuities to Indians, per act of 3d March, 1 805 1,000 00 
 
 Annuities to Indians, per act of 21st April. 1806 15,925 00 
 
 Annuities to Indians, per act of 3d March, 1807 300 00 
 
 Annuities to Indians, per act of 19th Feb. 1808 5,700 00 
 
 Annuities to Indians, per act of 1st May, 1810 2,450 00 
 
 Annuities to Indians, per act of 3d March, 1811 1,500 00 
 
 Annuities to Indians, per act of 26th April, 1 816 150 00 
 
 Annuities to Indians, per act of 3d March, 1817 26,236 62 
 
 Annuities to Indians, per act of 3d March, 1819 70,950 00 
 
 Annuities to Indians, per act of 1 5th May, 1820 3,000 00 
 
 Annuities to Indians, per act of 7th May, 1822 14,150 00 
 
 Annuities to Indians, per act of 3d March, 1823 5,000 00 
 
 From which deduct the following repayments : 
 Fortifications - - $3,572 26 
 
 Bounties and premiums - 2,985 47 
 
 4,390,273 35 
 
 6,557 73 
 
 NAVAL DEPARTMENT, VIZ : 
 
 Pay of the navy 
 
 Provisions 
 
 Medicines 
 
 Repairs of vessels 
 
 Ordnance and ordnance stores 
 
 Freight and contingent expenses 
 
 Navy yards, &c. 
 
 Superintendents, &c. ,- 
 
 582,899 89 
 
 146,975 09 
 16,778 72 
 
 298,035 53 
 4,830 66 
 
 109,377 31 
 64.102 26 
 28,817 19 
 
 1,383,715 62
 
 1823.] 
 
 SECRETARY OF THE TREASURY, 
 
 271 
 
 Laborers, &c. 
 Gradual increase 
 Suppression of piracy 
 Survey of the coast of North Carolina 
 Survey of the coast of Florida -i :ttv i !**1 
 Prohibition of the slave trade 
 Inclined plane docks, &c. 
 Houses for ships in ordinary 
 Pay and subsistence of the marine corps - 
 Clothing for the marine corps 
 Fuel for the marine corps 
 Military stores, marine corps 
 Quartermasters stores, and contingencies 
 marine corps - 
 
 From which deduct the following repay- 
 ments : 
 
 Purchase of timber - $100 00 
 
 Purchase of vessels from 8 to 
 
 16 guns - *H* 1,532 03 
 
 Captors of Algerine vessels - 14,970 25 
 
 $14,933 62 
 
 239,030 40 
 
 101,977 95 
 
 402 00 
 
 1,337 50 
 
 5,538 76 
 
 15,132 07 
 
 1,520 60 
 
 117,708 49 
 
 24,194 25 
 
 3,123 32 
 
 3,885 25 
 
 12,990 79 
 
 1,793,591 65 
 
 16,602 28 
 
 $1,776,989 37 
 
 PUBLIC DEBT, VIZ : 
 
 Interest and reimbursement of domestic 
 
 debt - 
 
 Certain parts of domestic debt J*jt> 
 Reimbursement of Mississippi stock 
 Reimbursement of Treasury notes (war- 
 rant dated in 1820) ?iu 
 
 3.745,405 13 
 504 97 
 
 5,477 07 
 
 
 20 00 
 
 3,751,407 17 
 
 $11,422,847 30 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, 
 
 , 
 
 JOSEPH NOURSE, Register. 
 
 . 
 
 \ . . ' X
 
 272 REPORTS OF THE [1823. 
 
 No. 1. 
 STATEMENT of the debt of the United States, 1st October, 1822. 
 
 Deferred six per cent, stock, (unredeemed 
 
 amount) - $1,224,778 55 
 
 Three per cent, stock - - 13,296,099 06 
 
 Exchanged six per cent, stock - - 2,668.974 99 
 
 $17,189,852 60 
 
 Six per cent, stock of 1812 - 6,187,006 84 
 
 Six per cent, stock of 1813 (16 millions) 15',521,136 45 
 Six per cent, stock of 1813 (7J millions) 6,836,232 39 
 Six per cent, stock of 1814 - 13,011,437 63 
 
 Six per cent, stock of 1815 - 9,490,099 10 
 
 Treasury note six per cent, stock 1,465.285 47 
 
 Treasury note seven per cent. - - 8,606.355 27 
 
 Five per cent, stock, (subscription to 
 
 Bank United States 7,000,000 00 
 
 Six per cent, stock of 1820 - 2,000,000 00 
 
 Five per cent, stock of 1820 999,999 13 
 
 Five per cent, stock of 1821 - . : 4,735,296 30 
 
 75,852,848 58 
 
 $93,042,701 IS 
 
 The estimated amount, per No. 3, of the Secretary's report 
 of last year, was .- $93,043,019 67 
 
 From which deduct this sum, then short estimated, as 
 reimbursement of the deferred six per cent, stock ; 4v, 318 49 
 
 Making, as above 
 
 In the fourth quarter of 1822, the following sums were 
 paid on account of the principal of the public debt, viz : 
 In the reimbursement of the deferred stock $265.673 32 
 In payment of the six per cent, stock of 
 
 1820 - - - 2,000,000 00 
 
 2,265,673 32 
 
 Leaving the amount of the debt on 1st January, 1823, as 
 per the following statement No. 2, at - - $90,777,027 86 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December, 1823. 
 
 JOSEPH NOURSE, Register.
 
 
 1823.] SECRETARY OF THE TREASURY. 273 
 
 No. 2. 
 STA TEMENT of the debt of the United States, January i, 1823. 
 
 Deferred six per cent, stock, (unredeemed 
 
 amount) , ; - - $959,105 23 
 
 Three per cent, stock - 13,296,099 06 
 
 Exchanged six per cent, stock - . - 2,668,974 99 
 
 $16,924,179 28 
 
 Six per cent, stock of 1812 - 6,187,006 84 
 
 Six per cent, stock of 1813, (16 millions) - 15,497,818 63 
 Six per cent, stock of 1813, (7 millions) - -6,812,845 44 
 Six per cent, stock of 1814 ^ - 13,001,437 63 
 
 Six per cent, stock of 1815 - 9,490,099 10 
 
 Treasury note six per cent, stock - - 1,465,285 47 
 
 Treasury note seven per cent, stock - 8,606,355 27 
 
 Five per cent, stock, (subscription to Bank 
 
 United States) - - - 7,000,000 00 
 
 Five per cent, stock of 1820 - 999,999 13 
 
 Five per cent, stock of 1821 - 4,735,296 30 
 
 Exchanged five per cent, stock, issued in 
 
 lieu of the same amount of six per cent. 
 
 stock, under the act of 20th April, 1822 56,704 77 
 
 73,852.848 58 
 
 $90,777,027 86 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December, 1823. 
 
 JOSEPH NOURSE, Register. 
 
 
 bs 
 
 v x 
 
 7 : :,} yvrrim-r'.'jl .tst. -t * 
 
 VOL. n. 18 

 
 REPORTS OF THE [1823. 
 
 No. 3. 
 
 ESTIMATE of the debt of the United States, October 1, 1823, and 
 
 January 1, 1824. 
 
 On the 1st October, 1823 : 
 Deferred six per cent, stock, (unredeemed 
 
 amount - - $632.082 35 
 
 Three per cent, stock - 13,296,231 45 
 
 Exchanged six per cent, stock - 2,668,974 99 
 
 $16,597,288 79 
 
 Six per cent, stock of 1812 - 6,187,006 84 
 
 Six per cent, stock of 1813 (16 millions) - 15,497,818 63 
 Six per cent,. stock of 1813 (7 millions) - 6,812,845 44 
 Six per cent, stock of 1814 - 13,001,437 63 
 
 Six per cent, stock of 1815 - 9,490,099 10 
 
 Treasury note six per cent, stock - 1,466.847 34 
 
 Treasury note seven per cent, stock - 8,606,490 27 
 
 Five per cent, stock, (subscription to Bank 
 
 United States) - - 7.000,000 00 
 
 Five per cent, stock of 1820 - 999,999 13 
 
 Five per cent, stock of 1821 4,735,296 30 
 
 Exchanged five per cent, stock of 1822 - 56,704 77 
 
 - 73,854.545 45 
 
 Amount 1st October, 1823 - - - $90,451,834 24 
 
 Amount per statement No. 2, 1st January, 1823 - $90,777,027 86 
 
 Add three per cent, stock, issued since $132 39 
 
 Treasury nole six per cent, issued since 1.561 87 
 Treasury note seven perct., issued since 135 00 
 
 1,829 26 
 
 90,778,857 12 
 Deduct reimbursement of the deferred stock in the 1st, 2d, 
 
 and 3d quarters of 1823 327,022 88 
 
 Amount of the debt on the 1st October, 1823, as above - 90,451,834 24 
 Add Treasury note stock issued since - - 716 75 
 
 90,452,550 99 
 
 Deduct estimated amount of reimbursement on deferred 
 stock in the fourth quarter of 1823 - - 274,588 85 
 
 Estimated amount of the debt, 1st January, 1824 - 90,177,962 14 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December, 1823. 
 
 JOSEPH NOURSE, Register.
 
 1823.] SECRETARY. OF THE TREASURY. 275 
 
 ESTIMATED amount of Treasury notes outstanding on the 1st Oc- 
 
 tober, 1823. 
 
 Total amount issued (as per No. 4 of last report) - $36,680,794 
 
 Cancelled and reported on by the First Auditor, $36,653,357 
 ' Funded at the Treasury from the 1st of Jan- 
 uary to the 30th September, 1823 1,315 
 
 -- 36,654,672 
 
 1 ', ; i i'a f. '4$&.> 
 Outstanding 
 
 Consisting of small Treasury notes *nr 1^1 2,782 
 
 notes bearing interest 23,340 
 
 $26 122 
 
 >.;Ji< <3tf J ~ 
 
 TREASURY DEPARTMENT, 
 
 Register's Office. December, 1823. 
 
 JOSEPH NOURSE, Register. 
 
 . . . <.-**<. \ 9ify to ;fa<&fl ft'fl ciiar*)]*! no ajKfTTuvffl .. 
 
 - 
 No. 5. 
 
 STATEMENT of the stock issued under the act of Congress entitled 
 " An act supplementary to the act for the indemnification of certain 
 claimants of public lands in the Mississippi Territory" passed on 
 the 3d March, 1815. 
 
 Amount of claims awarded, per statement No. 5 of last year, $4,282,151 12^ 
 
 Whereof there has been paid in for lands, per said report $2,447,635 39 
 
 Payments at the Treasury, to the 30th Sep- 
 tember, 1822, per ditto ' - $1,807,879 79 
 
 Do. from 1st October, 1822, to the 30th Sep- 
 tember, 1823 - 5,477 07 
 
 1,813,356 86 
 
 Balance 1st October, 1823. consisting of cer- 
 tificates outstanding 18,471 93 
 
 Awards not applied for - 2,786 94 n 
 
 21,258 
 
 $4,282,151 12A 
 t its ' 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December, 1823. 
 
 JOSEPH NOURSE, Register.
 
 276 REPORTS OF THE [1824. 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1824. 
 
 In obedience to the directions of the " Act supplementary to the act to 
 establish the Treasury Department," the Secretary of the Treasury respect- 
 fully submits the following report. 
 
 I. OF THE PUBLIC REVENUE AND EXPENDITURES FOR THE YEARS 1823 
 
 AND 1824. 
 
 The nett revenue wh : ch accrued from duties on imports and tonnage dur- 
 ing the year 1823 amounted (see statement A) to - $17,008,570 80 
 
 The actual receipts into the Treasury during the year 
 1823 amounted to - $20,540,666 26 
 
 Viz. 
 
 Customs (statement A) - $19,088,433 44 
 
 Public lands (statement D) - 916.523 10 
 
 Dividends on stock in the Bank of the 
 United States (statement E) 350,000 00 
 
 Arrears of internal duties and direct tax, 
 and incidental receipts - 131,951 69 
 
 Repayments of advances made in the 
 War Department for services or supplies 
 prior to 1st July-, 1816 - 53,758 03 
 
 Making, with the balance in the Treasury on the 1st 
 January, 1823, of - 4,237,427 55 
 
 An aggregate of - - 24,778.093 81 
 
 The actual expenditures during the year 1823, amounted 
 (see statement F) to : . -. 15.314,171 00 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $2.022,093 99 
 
 Military service, including fortifications, 
 ordnance, Indian department, revolutiona- 
 ry and military pensions, arming the mili- 
 tia, and arrearages prior to 1st January, 
 1817 - - 5,258,294 77 
 
 Naval service, including the gradual in- 
 crease of the navy - 2,503,765 83 
 
 Public debt - - 5,530,016 41 
 
 Leaving a balance in the Treasury on 1st January, 
 
 1824, of - - 9,463,922 81 
 
 The actual receipts into the Treasury during the first 
 three quarters of the year 1824 are estimated to have 
 amounted to -" "- $19,630.89396 
 
 " / i .
 
 1S24.] 
 
 SECRETARY OF THE TREASURY. 
 
 277 
 
 Viz. 
 
 Customs 
 
 - $13,372,268 80 
 
 Public lands (statement 
 G) 768,805 10 
 
 Dividends on stock in the 
 Bank of the United States - 350,000 00 
 
 Arrears of internal duties 
 and direct tax, and incidental 
 receipts (statement H) 97,321 37 
 
 Repayments of advances 
 made in the. War Depart- 
 ment, for services or supplies 
 prior 'to 1st July, 1816 42,498 69 
 
 Loan under act of 24th 
 May, 1824, for paying the 
 awards under the Florida 
 treaty Hf- 5,000,000 00 
 
 And the actual receipts into the Treasury 
 during the fourth quarter of the year, includ- 
 ing the moiety of the loan of five millions, 
 authorized by the act of 26th May, 1824, for 
 paying the 6 per cent, stock of 1812, are esti- 
 
 mated at 
 
 $7,350,000 CO 
 
 Making the total estimated receipts into the Treasury 
 
 during the year 1824 
 
 - $26,980,893 96 
 
 And, with the balance in the Treasury on the 1st Janu- 
 
 ary, 1824, forming an aggregate of 
 
 The expenditures during the first three 
 quarters of the year 1824 are estimated to 
 have amounted (statement I) to $21.563,702 73 
 
 Yiz. 
 
 Civil, diplomatic, and mis- 
 coJaneous - - $1.792,456 00 
 
 Military service, includ- 
 ing fortifications, ordnance, 
 Indian department, revolu- 
 tionary and military pen- 
 sions, arming the militia, 
 and arrearages prior to 1st 
 January, 1817 ui* " 4,548,374 49 
 
 Naval service, including 
 the gradual increase of the 
 navy - 2,172,671 34 
 
 Awards under the Flori- 
 da treaty - - - 4,775,671 99 
 
 Public debt - 8,274,528 91 
 
 - 36,444,816 77 
 
 And the expenditures during the fourth 
 quarter are estimated at - 10,374 ; 445 13
 
 278 REPORTS OF T&E [1824. 
 
 ViV 
 
 t V 16. 
 
 Civil, diplomatic, and mis- 
 cellaneous - - ,$580,870 11 
 
 Military service, includ- 
 ing fortifications, ordnance, 
 Indian department, revolu- 
 tionary and military pen- 
 sions, arming the militia, 
 and arrearages prior to 1st 
 January, 1817 765,346 35 
 
 Naval service, including 
 the gradual increase of the 
 navy 734,343 82 
 
 Public debt - 8,293,884 85 
 
 Making the total estimated expenditure of the year 1824, $31,938,147 86 
 
 And leaving in the Treasury on the 1st January, 1825, 
 an estimated balance of - - $4,506,668 90 
 
 It is to be observed, however, that this balance is not to be considered as 
 subject to appropriations ; as there is rbout an equal amount of unsatisfied 
 appropriations, which, though not called for in the year 1824. are necessary 
 for the objects for which they were severally made, and which are. there- 
 fore, an existing charge upon the means of the Treasury. 
 
 II. OP THE PUBLIC DEBT. 
 
 The funded debt which was contracted before the year 1812, and which 
 was unredeemed on the 1st October, 1823, amounted (statement No. 1) 
 to - $16.597,318 58 
 
 And that which was contracted subsequently to the 1st 
 January, 1812, and was unredeemed on the 1st October, 
 1823, amounted (statement No. 2) to - 73,854,545 45 
 
 Making the total amount of funded debt unredeemed on 
 the 1st October, 1823 - .90,451.864 03 
 
 In the fourth quarter of that year, there was added, in 
 Treasury note 6 per cent, stock 716 75 
 
 Making an aggregate of. 90,452,580 78 
 
 And there was paid, in the reimbursement of deferred 6 
 per cent, stock - - -,' . , ; ,-> -' - 274,56588 
 
 Reducing the funded debt on the 1st January, 1824, 
 (statement No. 2) to 90,1 7&.014 90 
 
 From that day to the 1st October last, there was added 
 in 41 per cent, stock, under the act of May, 1824 *' -. 5,000.000 00 
 
 Making an aggregate of - 95,178,014 90 
 
 During the same period there was paid 
 the residue of the deferred 6 per cent, stock $357,546 26 
 
 And in purehasing'the 7 per cent, stock 4,123,397 10 "* ? * 
 
 Making together - - 4 ; 480,943 36
 
 1824.] SECRETARY OF THE TREASURY. 279 
 
 And reducing the funded debt on the 1st October, 1824, 
 (statement No. X) to -$90,697,071 54 
 
 In the fourth quarter of the year, it is estimated there 
 will be added, in 4^ per cent, stockj under the act of 2Glh 
 May, 1824 -.-,- 2,500,00000 
 
 Making an aggregate of- - 93,197,07154 
 
 And during the same period, it is esti- 
 mated there will be paid, for the redemp- 
 tion of the residue of the 7 per cent, stock $4,483,093 17 
 
 And of the exchanged six percent, stock 2,668,974 99 
 
 Making together - < - - 7,152,06816 
 
 Which will reduce the funded debt unredeemed on the 
 1st January, 1825, (including $7,000,000 five per cent. 
 stock, subscription to the Bank of the United States, for 
 which the stock of the bank held by the Government is con- 
 sidered an equivalent,) to - - $86,045,003 38 
 
 The amount of Treasury notes outstanding on the 1st 
 October, 1824, is estimated (statement No. 4) at - - $19.756 00 
 
 And the amount of Mississippi stock unredeemed on that 
 day, including awards not applied for, (statement No. 5,) 
 at $14,016 53 
 
 By the preceding exhibition of the fiscal operations of the year, it will be 
 perceived that, if the expectations formed respecting the fourth quarter 
 should be realized, the receipts will have exceeded the estimate presented at 
 the last session of Congress by about 800,000 dollars. The only failure has 
 been in the proceeds of the public lands; and that has been the result of a 
 disappointment in regard to the relinquished lands ; great portions of -which 
 were supposed to offer strong inducements to purchasers, in their fertility 
 and situation, and other circumstances. But not only has the quantity sold 
 been less than was anticipated, but, owing it is believed in a great measure 
 to combinations of capitalists, by which actual settlers were deterred from 
 competition, the price has not, with few exceptions, exceeded the minimum 
 price fixed by law. It is to be observed, however, that the actual receipts 
 from that source of revenue, during the present year, will exceed those of the 
 preceding year; and it is estimated that those for the ensuing year will not 
 be less. 
 
 The gross amount of duties on imports and tonnage, which accrued from 
 the 1st January to the 30th September last, inclusive, is estimated at 
 19,000,000 dollars; and that of the whole year at 22,500,000 dollars. Of 
 this sum, that portion which accrued in the first half of the year, exceeds 
 by about 630,000 dollars, and that in the three quarters by about 1,200,000 
 dollars, the portions which accrued in the corresponding quarters of the pre- 
 ceding year. 
 
 The debentures issued during the first three' quarters of the present year 
 amounted to $2,952,000, which is less by $460,000 than the amount 
 issued during the corresponding period of the preceding year ; and the
 
 280 KEPORTS OF THE [1824. 
 
 amount of debentures outstanding on the 30th September last, and charge- 
 able upon the revenue of 1825, was 1,004,000 dollars, which is less, by 
 401,000 dollars, than was, on the same day in 1823. chargeable upon the 
 revenue of 1824. 
 
 The amount of bonds in suit on the 30th September last was 2,909,000 
 dollars, which is 92,000 dollars more than was in suit on the same day of 
 the preceding year. 
 
 Deducting from the whole amount of duties outstanding on bonds and 
 otherwise, on the 30th September last, the debentures actually chargeable 
 upon them, and the bonds in suit, it is estimated that the sum payable after 
 the expiration of the present year will be about 12.200,000 dollars. This 
 amount, however, is subject to debentures which may still be issued; but as 
 an allowance has already been made for those which are now chargeable 
 upon it, no considerable deduction on that account is to be expected. A por- 
 tion of the amount, also, is not payable until 1826; but the residue, together 
 with so much of the duties accruing in the fourth quarter of the present, 
 and in the whole of the next year, as may be received during that year, will, 
 after deducting the expenses of collection, constitute the receipts from the 
 customs during the year 1825. 
 
 The productiveness of the customs, however, depends upon the state of 
 the foreign commerce of the nation. It is estimated that, in the year ending 
 on the 30th September last, the value of domestic articles exported was 
 $49,684,710; which exceeded by $2,529,302 the amounts exported in the 
 preceding year: and that the value of foreign articles exported was 25.248,782 
 dollars ; which was less by $2,294.840 than the amount exported in the pre- 
 ceding year. The value of imports during the same period is estimated 
 at $78,516,183; which exceeds the imports of the preceding year by 
 $936,916. 
 
 For three years past, the average annual value of imports has been 
 79,778,997 dollars; that of foreign articles exported, 25,026,201 dollars: and 
 that of domestic articles exported, 48,904.732 dollars. The little fluctuation 
 which has taken place in these years, and the improvement in the last year, 
 may be regarded as indications that the commerce of the country is tending 
 to a regular and sound state. If no extraordinary events should occur to 
 interrupt it, it is reasonable to infer that there will be no material or unfavor- 
 able change in the ensuing year. 
 
 For the two years ending on the 3 1st December, 1823, the average annual 
 gross amount of duties on imports was $23,227,835. This sum, upon the 
 annual average value of the whole importations for the three years ending 
 on the 30th September, 1824, was 29.12 per cent.; and upon the average 
 amount of importations, after deducting the exports of foreign articles, it was 
 42.42 per cent. For the same two years the average annual nett amount 
 of duties, including tonnage, &c. was $18,758,931; and, for the reasons al- 
 ready stated, it may be presumed that, independent of any influence which 
 the new tariff may have upon the revenue, the amount which will be receiv- 
 ed into the Treasury from customs, during the year 1825, will be about equal 
 to that sum. 
 
 The operation of the new tariff upon the revenue cannot now be correctly 
 estimated. On one important branch of imports those from beyond the 
 Cape of Good Hope- its provisions will not take effect until 1st January 
 next, As it is only since the 1st July last that it has been in operation in 
 regard to ether importations, and as the collectors are allowed by Jaw three
 
 1824.] SECRETARY OF THE TREASURY. 281 
 
 months for rendering their accounts, the addition caused by the new tariff 
 cannot, even for that portion of the imports, and for one quarter of the 
 year, be staled with perfect accuracy. It is believed, however, that the in- 
 vestigation which has been made with a view to that object affords data 
 for estimating its effects with sufficient exactness for the present purpose. 
 It has been found that, upon the whole importations, (estimating their 
 value at the rates adopted in forming the statistical report,) in the three 
 quarters of the year ending on the 30th of June, 1824, the gross amount of 
 duties was 27.45 per cent,; and that, if the rates of the present tariff had 
 been applied to the same importations, the duties would have amounted to 
 30.30 per cent.; which is equal to an increase, upon the amount of duties, 
 of 10.39 per cent. (K.) It also appears that, in eight of the principal ports 
 of the United States, the rate of duties upon the whole amount of importa- 
 tions, during the third quarter of the year 1823, was 28.36 per cent., and 
 during the corresponding quarter of 1824 it was 30.98 per cent. (State- 
 ment L.) But it is to be observed that, in the third quarter of 1824, the 
 importations from beyond the Cape of Good Hope were not subjected to the 
 increased rates of the new tariff. These, it is estimated, would have made 
 the rate of duties in that quarter 31.40 per cent., which is equal to an in- 
 crease of the amount of duties of 7.57 per cent. The new tariff may, per- 
 haps, have some effict upon the importation of those articles which pay 
 high rates of duty, and for which articles of a lower rate may be substi- 
 tufed. But as the value of the imports depends more upon the ability of the 
 importing country to pay, than upon the amount of duty levied upon the 
 articles imported, it is not probable that, under the present circumstances 
 of the commerce of the United States, there will be any diminution in the 
 aggregate. Upon the whole, therefore, it is believed that the revenue de- 
 rived from imports will be increased by the operation of the new tariff, in 
 a ratio nearly equal to that in which it is estimated to have been increased 
 during the third quarter of the present year, in the ports above mentioned, 
 or about 7^ per cent. This increase, however, will produce less augment- 
 ation in the actual receipts into the Treasury during the year 1825 than 
 the subsequent years. 
 
 With these views of the subject, the receipts into the Treasury during 
 the year 1825 are estimated as follows:' 
 Customs - $20,000,000 00 
 
 Lands 1,000,000 00 
 
 Bank dividends 350,000 00 
 
 Miscellaneous and incidental ..-. - 150,00000 
 
 Making together 21,500,000 00 
 
 And the residue of the loan authorized 
 by the act of the 26th May last 2,450,000 00 
 
 Forming an aggregate of ,J - $23.950,000 00 
 
 The expenditures of the year are estimated as follows: 
 Civil, diplomatic, and miscellaneous - $1,685,026 76 
 Military service, including fortifications, 
 ordnance, Indian department, revolution- 
 ary and military pensions, arming the mi- 
 litia, and arrearages prior to 1st January, 
 1817 - 5,013,283 60
 
 282 REPORTS OF THE [1824. 
 
 Naval service, including the gradual in- 
 crease of the navy - $3,044,78931 
 
 Public debt, including a payment of 
 $7,654.570 93 of principal 11,962,063 97 
 
 Making together $21,705,163 64 
 
 Which will leave in the Treasury, on the 1st of January, 
 1826, after satisfying all the demands of the year 1825, a 
 surplus estimated at - $2,244,836 36 
 
 On the 1st January, 1826, a large amount of debt incurred by the late 
 war, viz: $19,000,000 of the 6 per cent, stock of the year 1813, will be 
 redeemable. As it is not probable that the surplus means of the year 1826 
 will more than equal the amount of the sinking fund for that year, only 
 $7,000,000 of that stock can be discharged out of the ordinary revenue of 
 the year. On the 1st January, 1827, the six per cent, of 1814, (another por- 
 tion of the war debt, amounting to $13,000.000,) will become redeemable ; 
 and in that year, also, it is probable that .not more than $7,000,000 of the 
 principal can be discharged. There will then remain, in those two years 
 $18,000,000, which cannot be paid out of the revenue of those years. In 
 1828, the amount of the principal redeemable will probably not exceed the 
 means of the Treasury. In the years 1829 and 1830, no part of the public 
 debt is redeemable ; and in 1831. less than $19,000. Policy would seem 
 to suggest, with a view both to the convenience of the Government and the 
 advantage of the community, that the excess of debt, which cannot be 
 discharged in 1826 and 1827, should be thrown, in equal portions, upon 
 these years, in which nothing is payable. For the present, however, it 
 may be sufficient to confine such an arrangement to the excess of the year 
 1826. From the state of the money market, and the high credit of the 
 Government, nov doubt is entertained that the $12,000,000 required to pro- 
 vide for the excess of debt on the 1st of January, 1826, may be borrowed 
 at five per cent., reimbursable in 1829 and 1830 ; and, if such an arrange- 
 is approved, it is respectfully proposed that authority be given by law for 
 that purpose. 
 
 The same object might, perhaps, be accomplished by an exchange of the 
 stock redeemable on the 1st January, 1826, for a five per cent, stock re- 
 deemable in 1829 and 1830. But it is believed that better terms may be 
 obtained by a loan. A proposal for a loan invites competition from all the 
 moneyed capitalists, including the Bank of the United States ; whereas an 
 exchange of stock confines the demand for the new stock to the holders of 
 the old stock, who constitute not only a small portion of the capitalists, but 
 a portion interested in preventing the accomplishment of the exchange. 
 Moreover, the experience of the Government, during the last two years, 
 justifies the preference for a loan. In 1822, a law was passed authorizing 
 an exchange of $26.000,000 of the seven per cent, and of the six per cents, 
 of the years 1812-'i3-'14 and '15, for a five per cent, stock, redeemable in 
 the years 1830-'31-'32 and '33; and only $56,704 77 were exchanged : and, 
 under the act of the last session, authorizing an exchange of $15,000,000 
 of the six per cent, of 1813, only $3,308.307 45 were exchanged. 
 
 Should the suggestion herein offered be adopted for disposing of the 
 excess of debt redeemable in 1826 arid 1827, the amount of public debt 
 redeemable in each year will be as follows :
 
 1824.] SECRETARY OF THE TREASURY. 283 
 
 In 1825 ^-' : - $7,654,570 93 of 6 percent. 
 
 1826 7,002.356 62 do. 
 
 1827 7,001,437 63 do. 
 
 1828 9.490,099 10 do. 
 
 1829 6,000,000 00 proposed to be at 5 per cent. 
 
 1830 6,000,000 00 the same. 
 
 1831 6,018,90159 the same. 
 
 \ of which $1,018,900 72 are at 
 
 1S32 6,018.900 72 I 5 per cent, and $5.000,000 at 
 
 ( 4^ per cent. 
 
 1QO o C^TOHK- 01 ^ all at 4^ per cent, except 
 
 6,673,050 31 j ^ 8 ^ ^ ftt g per cer / 
 
 1834 1,654,153 73 at 4i per cent. 
 
 1835 4,735,296 30 at 5~per cent. 
 
 This includes all the public debt of the United States, except $7,000,000 
 of 5 per cent, stock, subscribed to the capital of the Bank of the United 
 States, and 13,296,231 45 of 3 per cents, both of which are payable at 
 the pleasure of the Government. As, under the foregoing view of the 
 de ! t. all that will be redeemable after the year 1828. will be at an interest 
 of 5 per cent., or less; and as the 5 per cent, stock subscribed to the bank 
 is reimbursable in such portions as the Government may please, any sur- 
 pluses which may remain in 1829, and subsequent years, after discharging 
 the debt redeemable, and proposed to be made redeemable in those years, 
 may be applied to the payment of that stock. Or, if it be deemed advisable 
 to reserve any such surpluses for other objects, there is no doubt that a sum 
 sufficient to pay off that stock maybe obtained at4| per cent, or even at 
 a lower rate of interest, reimbursable in 1834, in which year it will be per- 
 ceived only u small sum is redeemable. 
 
 According to this exhibition of the subject, reckoning the principal and 
 interest o! 'the public debt, until its extinction, at about $111,000,000, inde- 
 pendent of the stock subscribed to the bank, which may always be consid- 
 ered &.s offset by the Government shares in the bank, it will be perceived 
 that, by allowing $10.000,000 annually, with an additional $1,000,000 in 
 the first year, the whole public debt of the United States will be extinguish- 
 ed by the end of the year 1835. 
 
 In speaking of the public debt, it may be proper to notice the reduction 
 that has been effected during the last eight years, both in the amount of prin- 
 cipal and rate of interest. On the 1st January, 1817. the whole debt of the 
 United States was $123,491,965 16, of which $115,257,805 48 was 
 funded, bearing an average interest of 5.56^ per cent, per annum. On the 
 1st of January next, the whole debt will be $86,045,003 18, bearing an 
 average interest of 5.23J, which shows a reduction of $37,446,961 98 of 
 principal, and of 33^ in the average rate of interest. 
 
 It is also deemed proper to state, that the loan of $5,000.000 for the pay- 
 ment of awards under the Florida treaty, and the loan of $5,000.000 for 
 paying the six per cent, stocks of 1812, (both of which were authorized at 
 the last session of Congress, at 4^ per cent.,) have been taken by the Bank 
 of the United States at par. The means of discharging the awards under 
 the Florida treaty were required so soon after the authority was given to 
 make the loan, as not to leave time sufficient for receiving proposals from a 
 distance ; and the offer of the bank for the whole loan at par was accepted. 
 For the subsequent loan, various proposals were received, amounting in the 
 whole, independently of that of the bank, to $2,554,585 37, at rates vary- 
 ing between par and 4| per cent, premium, and forming an average pre-
 
 234 REPORTS OF THE [182-1. 
 
 mium of 97^ per cent, on the whole amount offered, as appears by state- 
 ment M, herewith presented. 
 
 The proposal of the bank was for the whole sum, at par. Although the 
 individual offers are apparently more favorable than that of the bank ; 
 yet, taking into consideration that the Government is the proprietor of one- 
 fifth of the capital of the bank, and that a portion of the means of the bank, 
 equal to the amount of the loan, would otherwise have been unemployed, 
 the offer of the bank, at par, was decidedly the most advantageous for the 
 Government; being, as is explained in statement N, equal to un individual 
 offer at 4f per cent, premium. 
 
 That, during the progress of the redemption of the public debt, a consider- 
 able amount may be applied, l>y a judicious management of the public reve- 
 nue, to other than the ordinary objects of expenditure, is apparent, as well 
 from a retrospect of what has been done in the last eight years, as by a com- 
 parison between the probable receipts and expenditures in subsequent years. 
 
 For the eight years commencing on the 1st January, 1817, the total means 
 of the Treasury, including a balance on hand on that day, of $22,033,599 19, 
 and the sum of $16,336,747 3-4, since derived from loans, may be esti- 
 mated at - $210.275,899 11 
 
 And the total expenditure at - 205,769,230 20 
 
 Of this amount nearly one-half will have been applied to the payment of 
 the principal and interest of the, public debt, viz: - $101,365,900 67 
 
 To the payment of claims under the Florida treaty - 4,891,368 56 
 
 To the pensioners of the revolution - 9,400,00000 
 
 To the erection of fortifications 4,200,000 00 
 
 To the increase of the navy - 6,000,00000 
 
 And to the payment of demands aris- 
 ing out of the late war, not less than - 4,500,000 00 
 
 Leaving for all other objects of expenditure, including the civil list, inter- 
 course with foreign nations, army and navy, pensions, arming the militia, 
 building of light-houses, extinction of Indian titles, and surveying of public- 
 lands, <fec. &c., $75,400,000 ; which sum, divided among the eight years, 
 js about $9,425,000 per annum. 
 
 It will be perceived that, excluding the loans, the annual average receipts 
 in those years may be estimated at $21,700,000; and. upon the data al- 
 ready shown, the annual revenue, in subsequent years, may be estimated at 
 $21,500,000. Should no important change be made in the existing national 
 establishments, the ordinary annual expenditures, exclusive of what may 
 be required for the erection of fortifications and the increase of the navy, 
 may be estimated at about $18,500,000. 
 
 Thus, after providing for the annual demands for the payment of the prin- 
 cipal and interest of the public debt, and for all the ordinary expenses of the 
 Government, there will remain, for the next eleven years, an annual surplus 
 of about $3,000,000, which, after the extinction of the debt in the year 1835, 
 will receive an annual addition of the $10,000,000 now appropriated to the 
 public debt ; which surpluses may be applied to such objects conducive to the 
 common defence and general welfare of the nation as may be within the 
 constitutional powers of Congress, and as they, in their wisdom, may deem 
 proper. All which is respectfully submitted. 
 
 WM. H. CRAWFORD. 
 
 TREASURY DEPARTMENT, December 31, 1824.
 
 1824.] 
 
 SECRETARY OF THE TREASURY. 
 
 285 
 
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 286 
 
 REPORTS OF THE 
 B. 
 
 [1824. 
 
 A STATEMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1823. 
 (consisting of the difference between articles paying duty, imported, arid 
 those entitled to drawback, re-exported;) and, also, oj the nett revenue 
 which accrued, that year, from duties on merchandise, tonnage, pass- 
 ports, and clearances. 
 
 MERCHANDISE PAYING DUTIES AD VALOREM. 
 
 $931,271 at 7i per cent. - - 
 13,933,703 15 do. 
 6,120.369 20 do. 
 15,467,941 25 do. .... 
 
 1,645,610 30 do. - - - 
 
 $69,845 32 
 2,090,055 45 
 1,2^4,053 80 
 3,866,9d5 25 
 493,683 00 
 
 $7,744,622 82 
 9,764,792 05 
 
 38,093,794 20.3 do. average 
 
 7,744,622 82 
 
 SPECIFIC DUTIES. 
 
 1. Wines, 1 ,730,105 gallons, average 22.8 cents 
 2. Spirits, 3,702,152 do. do. 44.7 do. 
 Molasses, 13,284,451 do. do. 5.0 do. 
 3. Teas, 6,796,364 pounds, do. 30.9 do. 
 Coffee, 18,603,330 do. do. 5.0 do. 
 4. Sugar, 43,309,475 do. do. 3.2 do. 
 5. Salt, 4,449,740 bushels, at 20. do. 
 6. All other articles 
 
 394,416 25 
 1,655,326 43 
 664,222 55 
 2,105,956 63 
 930,166 50 
 1,311,004 79 
 889,948 00 
 1,813,750 90 
 
 From which deduct duties refunded, after deducting therefrom duties on mer- 
 chandise, the particulars of which could not be ascertained, and difference 
 of calculation - - - ' 
 
 Add 2i per c.ent. retained on drawback - 126,35915 
 Extra duty on merchandise imported in foreign vessels - 25,915 42 
 Discriminating duty on French vessels - 7, 183 58 
 Interest on bonds - - 20,86518 
 Storage received - 3,714 86 
 
 17,509,414 87 
 57,011 09 
 
 17,452,403 78 
 184,038 19 
 
 Duties on merchandise - 
 Duties on tonnage - 
 Light money ' .- 
 Passports and clearances - 
 
 Deduct drawback on domestic refined sugar exported - 
 Drawback on domestic distilled .spirits exported 
 
 Gross revenue - J - - 
 Expenses of col ec. ion - ' . * 
 
 Nett revenue, per statement A - "'. V ' - 
 
 71,857 94 
 17,038 16 
 12,576 00 
 
 17,636,441 97 
 101,472 10 
 
 2,281 68 
 3,517 60 
 
 17,737,914 07 
 5,799 28 
 
 . - r^.s 
 
 17,732,114 79 
 723,543 99 
 
 17,008,570 80 
 
 ' 
 
 '', - - '" [-'. - f <S~ ' " """" i '"'" *^ " *?' *"
 
 1824] 
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes. 
 
 1. Wines Madeira 
 . Burgundy 
 Sherry and St. Lucar - . - 
 Lisbon, Oporto, &c. * i - 
 Teneriffe, Fayal, &c. 
 Claret, in bottles 
 All other ( 
 
 2. Spirits Grain - 1st proof i>- 
 2d do. 
 3d do. o/i&s 
 4th do. 
 5th do. 
 Other, 1st and 3d do. 
 3d do. :>"- 
 4th do. 
 5th do. 
 Above 5th do. 
 
 3. Teas Bohea' : '-* 
 Souchong 
 Hyson skin 
 Hyson and young hyson, 
 Imperial '* - 
 
 Deduct "exported Souchong '>?> - 
 
 Add extra duty on teas imported 
 from other places than China 
 
 4. Sugar Brown - ; -.- 
 White clayed - -, 
 
 5. Salt Imported 
 Exported, bushels 47,486 
 Bounties and allowances 
 * tf reduced into bushels, at 
 20 cents * - -938,223 
 
 68,207 gallons, at 
 4,058 do. 
 9,252 do. 
 35,471 do. 
 185,111 do. 
 70,795 do. 
 1,357,211 do. 
 
 100 cents 
 100 do. 
 60 do. 
 50 do. 
 40 do. 
 30 do. 
 15 do. 
 
 42 do. 
 45 do. 
 48 do. 
 52 do. 
 60 do. 
 38 do. 
 42 do. 
 48 do. 
 57 do. 
 70 do. 
 
 12 cents 
 .25 do. 
 28 do. 
 40 do. 
 50 do. 
 
 56 do. 
 
 3 do. 
 4 do. 
 
 20 cents 
 20 do. 
 
 $68,207 00 
 4,058 00 
 5,551 20 
 17,735 50 
 74,044 40 
 21,238 50 
 203,581 65 
 
 1,730,105 
 
 394,416 25 
 
 196,138 do. 
 32,928 do. 
 40,230 do. 
 15,955 do. 
 548 do. 
 431,876 do. 
 1,112,062 do. 
 1,870,470 do. 
 1,315 do. 
 630 do. 
 
 82,377 96 
 14,817 60 
 19,310 40 
 8,296 60 
 SJ8 80 
 164,112 88 
 467*066 04 
 897,825 60 
 749 55 
 441 00 
 
 3,702,152 
 
 1,655,326 43 
 
 585,864 pounds, at 
 1,593,114 do. 
 1 ,967,866 do. 
 2,384,142 do. 
 265,525 do. 
 
 70,303 68 
 398,278 50 
 551,002 48 
 953,656 80 
 132,762 50 
 
 6,796,511 
 256 do. 
 
 2,106,003 96 
 8704 
 
 6,796,255 
 
 2,105,916 92 
 39 71 
 
 6,796,255 
 
 2,105,956 63 
 
 42,137,421 do. 
 1,172,054 do. 
 
 1,264,122 63 
 46,882 16 
 
 43,309,475 
 
 1,311,004 79 
 
 5,435,449 bushels, at 
 985,709 do. 
 
 1,087,089 80 
 197,141 80 
 
 
 4,449,740 
 
 889,94800 
 
 * ^ ^ 
 
 .' ' ^ff*^:' baa iteh T^a- 1 ' " 
 
 . , 
 
 - .->'J 

 
 288 REPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 [1824- 
 
 6. All other articles, viz : 
 
 duantit}'. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Duck Russia 
 
 pieces 
 
 28,582 
 
 200 
 
 $57,164 CO 
 
 Ravens - 
 
 do. 
 
 31,387 
 
 125 
 
 39/233 75 
 
 Holland - 
 
 do. 
 
 1,533 
 
 250 
 
 3,8o2 50 
 
 Sheeting brown Russia 
 
 do. 
 
 3,729 
 
 160 
 
 5.966 40 
 
 white Russia 
 
 do. 
 
 541 
 
 250 
 
 1,'352 50 
 
 Beer, ale, and porter, in bottles - 
 
 gallons 
 
 99,733 
 
 15 
 
 14,959 95 
 
 in casks - 
 
 do. 
 
 12,196 
 
 10 
 
 1,219 60 
 
 Oil spermaceti 
 
 do. 
 
 24,948 
 
 25 
 
 6,237 00 
 
 whale and other fish 
 
 do. 
 
 1,115 
 
 15 
 
 167 25 
 
 olive, in casks 
 
 do. 
 
 5,651 
 
 25 
 
 1,412 75 
 
 Cocoa - - 
 
 pounds 
 
 787,586 
 
 2 
 
 15,751 72 
 
 Chocolate - - 
 
 do. 
 
 2,086 
 
 3 
 
 62 58 
 
 Sugar candy 
 loaf 
 
 do. 
 do. 
 
 1,157 
 
 840 
 
 12 
 12 
 
 138 84 
 100 80 
 
 other refined and lump - 
 
 do. 
 
 574 
 
 10 
 
 57 40 
 
 Fruits almonds 
 
 do. 
 
 393,044 
 
 3 
 
 11,791 3-2 
 
 currants * , - ,- 
 
 do. 
 
 152,476 
 
 3 
 
 4,574 28 
 
 prunes and plums 
 
 do. 
 
 156,839 
 
 3 
 
 4,705 17 
 
 figs 
 
 do. 
 
 485,908 
 
 3 
 
 14,577 24 
 
 raisins, in jars, and Muscatel - 
 
 do. 
 
 1,290,225 
 
 3 
 
 38,706 75 
 
 other 
 
 do. 
 
 1,256,947 
 
 2 
 
 25,138 94 
 
 Candles wax or spermaceti 
 
 do. 
 
 2,502 
 
 6 
 
 150 12 
 
 C heese 
 
 do. 
 
 66,122 
 
 9 
 
 5,950 98 
 
 Soap 
 
 do. 
 
 281,044 
 
 3 
 
 8,431 32 
 
 Tallow - 
 
 do. 
 
 _ 
 
 1 
 
 
 Spices mace 
 
 do. 
 
 3,399 
 
 100 
 
 3,399 00 
 
 nutmegs 
 
 do. 
 
 34,865 
 
 60 
 
 20,919 00 
 
 cinnamon 
 
 do. 
 
 11,834 
 
 25 
 
 2,958 50 
 
 cloves - .>''. 
 
 do. 
 
 93,936 
 
 25 
 
 23, 4M 00 
 
 pepper - 
 
 do. 
 
 1,629,330 
 
 8 
 
 130,346 40 
 
 pimento - 
 
 do. 
 
 507,773 
 
 6 
 
 30,466 38 
 
 cassia - , - 
 
 do. 
 
 '277,555 
 
 6 
 
 16,653 30 
 
 Tobacco, manufactured, other than snuff and 
 
 
 
 
 
 segars 
 
 do, 
 
 7,085 
 
 10 
 
 708 50 
 
 Snuff - - ' - 
 
 do. 
 
 250 
 
 12 
 
 30 00 
 
 Indigo - ... 
 
 do. 
 
 321,748 
 
 15 
 
 48,262 20 
 
 Cotton - ,,.f - -.'.- 
 
 do. 
 
 138,116 
 
 3 
 
 4,143 48 
 
 Gunpowder 
 
 do. 
 
 27,126 
 
 8 
 
 2,170 08 
 
 Bristles - 
 
 do. 
 
 98,158 
 
 3 
 
 2,944 74 
 
 Glue - - ' - 
 
 do. 
 
 95,323 
 
 5 
 
 4,766 15 
 
 Paints ochre, dry 
 
 do. 
 
 1,503,320 
 
 1 
 
 15,033 20 
 
 in oil 
 
 do. 
 
 18,823 
 
 u 
 
 282 34 
 
 white and red lead .'. 
 
 do. 
 
 3,514,412 
 
 3 
 
 105,432 36 
 
 Lead pig, bar, and sheet 
 
 do. 
 
 930,055 
 
 1 
 
 9,300 55 
 
 manufactured into shot - 
 
 do. 
 
 814,501 
 
 2 
 
 16,290 02 
 
 Cordage tarred, and cables 
 
 do. 
 
 94,123 
 
 3 
 
 2,823 69 
 
 untarred ... 
 
 do. 
 
 283,361 
 
 4 
 
 11,334 44 
 
 twine - 
 
 do. 
 
 361,567 
 
 4 
 
 14,462 68 
 
 Copper rods and bolts - . '. 
 
 do. 
 
 27,286 
 
 4 
 
 1,091 44 
 
 nails and spikes ... 
 
 do. 
 
 10,649 
 
 4 
 
 425 96 
 
 Wire iron and steel, not above No. 18 
 
 do. 
 
 450,562 
 
 5 
 
 22,528 10 
 
 above No. 18 - 
 
 do. 
 
 244,050 
 
 9 
 
 21,964 50 
 
 Iron tacks, brads, &c., not above 16 oz. 
 
 M. 
 
 23.204 
 
 5 
 
 1,160 20 
 
 above 16 oz. 
 
 do. 
 
 625 
 
 4 
 
 25 00 
 
 Nails - - - - , - 
 
 pounds 
 
 499,537 
 
 4 
 
 19.P81 48 
 
 Spikes ..... 
 
 do. 
 
 54,969 
 
 3 
 
 1,649 07 
 
 Anchors .... fc 
 
 do. 
 
 133,444 
 
 2 
 
 2,668 88 
 
 Iron pig - 
 
 cwt. 
 
 49,845 
 
 
 
 24,922 50 
 
 castings 
 
 do. 
 
 18,676 
 
 75 
 
 14.C07 00
 
 
 JS24.] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate of; 
 duty. 
 
 Duties. 
 
 
 
 Cents. 
 
 
 Iron, bar, rolled .-; - - cwt. 
 
 73,369 
 
 150 
 
 $110,053 50 
 
 hammered - ~ - do. 
 
 692,437 
 
 75 
 
 519,327 75 
 
 sheet, rod, and hoop - - do. 
 
 35,837 
 
 250 
 
 89,592 50 
 
 Steel --- - do. 
 
 18,570 
 
 100 
 
 18,570 00 
 
 Hemp - do. 
 
 65,826 
 
 150 
 
 98,739 00 
 
 Alum - - - do. 
 
 1,130 
 
 200 
 
 2,260 00 
 
 Copperas - - < ' - - - do. 
 
 12,838 
 
 100 
 
 12,838 00 
 
 Coal - , - - - bushels 
 
 719,021 
 
 5 
 
 35,951 05 
 
 Fish, dried or smoked - - - quintals 
 salmon, pickled - - barrels 
 
 2,057 
 2,645 
 
 100 
 200 
 
 2,057 00 
 5,290 00 
 
 mackerel, pickled - , do. 
 
 97 
 
 150 
 
 145 50 
 
 other, pickled - - - - do. 
 
 288 
 
 100 
 
 288 00 
 
 Glass, bottles, black quart - - gross 
 
 11,761 
 
 144 
 
 16,935 84 
 
 window, not above 8 by 10 - - 100 sq.ft. 
 
 2,516 
 
 250 ! 6,290 00 
 
 10 by 12 - - do. 
 
 1,174 
 
 275 
 
 3,228 50 
 
 above 10 by 12 - - do. 
 
 3.599 
 
 325 
 
 11,696 75 
 
 Boots - - pairs 
 
 112 
 
 150 
 
 168 00 
 
 Shoes and slippers, silk - - - do. 
 
 1,641 
 
 30 
 
 492 30 
 
 leather, men's, &c. - do. 
 
 2,939 
 
 25 
 
 734 75 
 
 children's -"--- do. 
 
 
 15 
 
 
 Segars - . ; -of - M. 
 
 14,619 
 
 250 
 
 36,547 50 
 
 Playing cards - packs 
 
 841 
 
 30 
 
 252 30 
 
 Paints whiting, and Paris white - pounds 
 
 507,821 
 
 ty~';T~.- I 
 
 1 
 
 5,078 21 
 
 
 , 
 
 I 
 
 1,814,854 75 
 
 Deduct excess of exportation over importation, viz : 
 Candles, tallow * "- - at 3 cents, 34.302 
 
 81,029 06 
 
 i-l I; 
 
 g, <S 
 
 Tallow - - at 1 cent, 5,304 
 
 53 04 
 
 
 
 Shoes, children's - - - at 15 cents, 145 
 
 21 75 
 
 
 
 
 
 
 1 103 Hfl 
 
 -* ' -or -'7 ! ^ 
 
 ' '$ 
 
 
 1 , 1W Of 
 
 1,813,750 90 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, January 1, 1825. 
 
 JOSEPH NOURSE, Register. 
 
 
 VOL. n. 19
 
 290 
 
 REPORTS OF THE 
 
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 SECRETARY OF THE TREASURY. 
 
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 REPORTS OF THE 
 E. 
 
 
 STATEMENT of moneys received into ike Treasury, from all sources 
 
 other than customs and public lands, during the year 1823. 
 
 From arrears of old internal revenue $73 96 
 
 direct tax of 1798 - 108 00 
 
 new internal revenue - 34,168 21 
 
 new direct tax - 10,229 71 
 
 dividends on stock in the Bank of the United States - 350.000 
 
 fees on 'Betters patent - 4,740 00 
 
 postage of letters 110 69 
 
 cents coined in the mint of the United States - 12,750 GO 1 
 
 fines, penaltits, and forfeitures 10 00 
 
 returned passage money of American seamen 30 00 
 
 amount received Mnder the act to abolish the United 
 
 States trading e^ablishments 37,547 95 
 
 surplus emoluments f officers of the customs - - 22,492 84 
 moneys previously advmeed on account of the fourth 
 
 census - 3,178 84 
 moneys previously advar/^ed on account of military 
 
 pensions - 1,828 84 
 moneys previously advanced on account of prisoners 
 
 of war - 4.683 65 
 balances of advances made to ta e War Department, 
 
 repaid under the 3d section of die act of the 1st of 
 
 May, 1820 - 53.758 03: 
 
 $535.709 72 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 16, 1824. 
 
 JOSEPH NOfcRSE, Register.
 
 1,058,911 65 
 
 1824] SECRETARY OF THE TREASURY. 
 
 F. 
 
 STATEMENT of the expenditures of the United States for the 
 
 year 1823. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ : 
 
 Legislature $339,057 22 
 
 Executive departments 473,668 91 
 
 Officers of the mint 9,600 00 
 
 Surveying department - 15,216 66 yaT 
 
 Commissioner of the Public Buildings - 1,500 00 
 
 Governments in the Territories of the 
 
 United States - - 29,518 75 
 
 Judiciary 190,350 11 
 
 Annuities and grants ..v 2.328 14 
 
 Mint establishment 14,139 12 
 
 Unclaimed merchandise 334 59 
 
 Light-house establishment - 207,610 23 
 
 Surveys of public lands 135.996 98 
 
 Boundary lines between Missouri and 
 
 Arkansas 2,00000 
 
 Land claims in Florida Territory 8,292 95 
 
 Adjustment of land claims in Michigan 
 
 Territory 500 00 
 
 Road from Cumberland to Ohio 5,289 48 
 
 Repairing road from Cumberland to Ohio 8,000 00 
 
 Roads within the State of Indiana 17,857 84 
 
 Roads and canals within the State of Mis- 
 souri - 4,729 14 
 
 Marine hospital establishment - 44,761 13 
 
 Public buildings in Washington 116,200 00 
 
 Apartments in the City Hall for the Cir- 
 cuit Court of the United States 
 
 Monument over the tomb of Elbridge 
 
 Gerry 1,000 00 
 
 Payment of claims for property lost 100 00 
 
 Payment of balances due to officers of old 
 
 internal revenue, <fcc. 2,027 67 
 
 Payment of balances due to collectors of 
 
 new internal revenue 203 72 
 
 Prohibition of the slave trade - 2,682 08 
 
 Encouragement of learning within the 
 
 State of Illinois 5,955 82 
 
 Payment of certain certificates - 331 34 
 
 Purchase of the sixth volume of the Laws 
 
 of the United States - 2,200 00 
 
 Rebuilding the public wharf, and repair- # 
 
 ing public stores at Staten island 13,499 00 
 
 Additional Commercial Digest - <* 1,000 00 
 
 Miscellaneous expenses - - 64,024 55 
 
 671,063 78
 
 294 
 
 REPORTS OF THE 
 
 $101,328 56 
 30,584 37 
 69,520 00 
 
 [1824.. 
 
 Diplomatic department 
 
 Contingent expenses of foreign inter- 
 course 
 
 Missions to the independent nations on 
 American continent 
 
 Relief and protection of American sea- 
 men 25,984 28" 
 
 Treaty with Spain - 20,272 93 
 
 Prize causes - 12,000 Ott 
 
 Treaty of Ghent, (4th, 6th, and 7th ar- 
 ticles) - - 13,394 00 
 
 Treaty of Ghent, (first article) 10,014 20 
 
 Treaties with Mediterranean powers - 9,020 22 
 
 MILITARY DEPARTMENT, VIZ: 
 
 Pay of the army - - - 952,944 51 
 Subsistence - 271,712 56 
 Forage - 35,624 71 
 Clothing 126,833 41 
 Medical and hospital department 18,175 19 
 Contingent expenses - 16,337 11 
 Ordnance 32,872 06 
 Quartermaster's department - 262,707 83 
 Repairs and contingencies of fortifica- 
 tions - . 28,123 31 
 Fort Monroe - 102,142 89 
 Fort Calhoun - - 78,343 59 
 Fort Washington 32,971 93 
 Fort Delaware - 46,500 00 
 Fort on Mobile Point - 81,997 18 
 Fort on the right bank of the Mississippi 15,675 79 
 Fort opposite Fort St. Philip - 23,697 20 
 Military Academy at West Point 11,187 62 
 Brigade of militia 794 56 
 Medals for officers - 2,700 00 
 Arrearages 44,854 83 
 Balances due to certain States - 6,84150 
 Preservation of arms - v.-r 4224 
 Repairing arms - - - 418 95 
 Preservation of ammunition 1,796 58 
 Army supplies - 4,495 33 
 Repairs of arsenals - 175 23 
 Arming; and equipping the militia 207,956 24 
 Gratuities 3.050 77 
 Armories 344,541 77 
 National armories on the western waters 3,500 00 
 Expenses of recruiting - . 9.086 99 
 Militia courts- martial, New York - 2^487 74 
 Militia courts-martial, Pennsylvania - 152 80 
 
 $292,118 56 
 2,022,093 99 
 
 
 i* 
 
 'i'i
 
 1824.] 
 
 SECRETARY OF THE TREASURY. 
 
 Barracks at Baton Rouge - 
 
 Purchase of woollens for 1823 
 
 Road from Plattsburg to Sa^kett's Harbor 
 
 Ransom of American captives 
 
 The Rigolets 
 
 Arsenals 
 
 Maps, plans, &c., for War Office - 
 
 Revolutionary* pensions 
 
 Invalid and half-pay pensions 
 
 Contingencies of Indian department 
 
 Civilization of Indians 
 
 Pay of Indian agents 
 
 Pay of sub-agents - 
 
 Presents to Indians r. 
 
 Treaty with the Creeks 
 
 Treaty with the Choctaws - 
 
 Saginaw treaty 
 
 Treaty of Chicago - 
 
 Purchase of Creek and Cherokee reserva- 
 tions - *'- 
 
 Annuities to Indians 
 
 Reservation of Indian lands 
 
 Purchase of lands in Tuscarawas county, 
 Ohio 
 
 Bounties and premiums 
 
 Fortifications 
 
 Repairs of Fort Jackson 
 
 Cannon, powder, shot and shells 
 
 Expenses at arsenals 
 
 Relief of sundry individuals 
 
 Relief of officers, c. of Seminole cam- 
 paign 
 
 $29,178 77 
 
 75,000 00 
 
 2,150 00 
 
 2.536 90 
 
 94,527 82 
 
 30,861 08 
 
 10 00 
 
 1,449,097 04 
 
 331,491 48 
 
 74,884 28 
 
 13.765 67 
 
 23,560 60 
 
 11.475 29 
 
 11,578 27 
 
 23,053 37 
 
 502 58 
 
 2,000 00 
 
 1,050 00 
 
 34,500 00 
 
 183,074 88 
 
 9,000 00 
 
 1,000 00 
 
 3,094 04 
 
 4,281 00 
 
 3,856 
 
 369 
 
 4 
 
 30 
 63 
 19 
 
 From which deduct the following repayment : 
 Expenses of holding treaties with Indians, 
 per act of 20th April, 1818 
 
 39,255 81 
 41,056 47 
 5,266,957 89 
 
 8,663 12 
 
 -$5,258,294 
 
 NAVAL DEPARTMENT, VIZ : 
 
 Pay of the navy - 
 Provisions - 
 Repairs of vessels - 
 Navy yards, &c. 
 Medicines - 
 Contingent 
 
 Ordnance and ordnance stores 
 Superintendents, <fcc. 
 Laborers and fuel for engine 
 Gradual increase - 
 Suppression of piracy 
 Prohibition of the slave trade 
 
 904,654 43 
 
 217,260 20 
 
 399,174 85 
 
 82,324 73 
 
 26,161 98 
 
 158,108 51 
 
 7,666 61 
 
 40,201 75 
 
 21,851 00 
 
 307,729 34 
 
 104,476 93 
 
 8,498 75
 
 REPORTS OF THE 
 
 [1824. 
 
 Inclined plane docks, &c. - 
 
 Ship houses 
 
 Survey of the coast of Florida 
 
 Survey of the coast of North Carolina 
 
 Pay and subsistence of the marine corps 
 
 Clothing of marine corps 
 
 Fuel for marine corps 
 
 Military stores, marine corps 
 
 Contingencies, marine corps 
 
 From which deduct the following repay- 
 ments : 
 
 Purchase of timber - - $ 100 00 
 
 Purchase of vessels from 8 to 16 
 
 guns - 1,532 03 
 
 Captors of Algerine vessels - 14,970 25 
 
 Officers and crew of the Hornet 250 83 
 
 $24,700 06 
 
 4,914 11 
 
 1,337 50 
 
 402 00 
 
 154,353 30 
 
 27,878 15 
 
 4,134 32 
 
 7,937 80 
 
 16,852 62 
 
 2.520.618 94 
 
 16,853 11 
 
 -$2,503,765 83 
 
 PUBLIC DEBT, VIZ : 
 
 Interest and reimbursement of domestic debt 
 Certain parts of domestic debt 
 Reimbursement of Mississippi stock 
 
 5,524,034 37 
 
 504 97 
 
 5,477 07 
 
 5,530,016 41 
 
 $15.314,171 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office^ December 16, 1824. 
 
 JOSEPH NOURSE, Register.
 
 
 SECRETARY OF THE TREASURY. 
 
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 SECRETARY OF THE TREASURY. 
 H. 
 
 299 
 
 STA TEMENT of moneys received into the Treasury from all sources 
 other than customs and public lands^ from the 1st of January to the 
 ' September, 1824. 
 
 $5,203 50 
 28,053 94 
 998 46 
 350,000 00 
 4,770 00 
 5,550 00 
 10 00 
 31,490 56 
 
 17,860 00 
 
 From arrears of old direct tax of 1798 - 
 
 new internal revenue ? V-^ 
 new direct tax - 
 
 dividends on stock in the Bank of the United States 
 fees on letters patent 
 cents coined at the mint 
 
 returned passage money of an American seaman - 
 surplus emoluments of officers of the customs 
 money received under the act to abolish the United 
 
 States trading establishments 
 balances of advances made to War Department, re- 
 paid under the 3d section of the act of 1st May, 
 
 1820 .;-.T, 
 
 moneys previously advanced on account of prison- 
 ers of war 
 
 moneys previously advanced on account of military 
 pensions - ^ 
 
 loan of five millions, at 4 per cent., to provide for 
 the awards under the treaty with Spain - 
 
 42,498 69 
 
 2,984 91 
 
 400 00 
 
 489,820 06 
 
 5,000,000 00 
 
 $5,489,820 06 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 16, 1824. 
 
 JOSEPH NOURSE, Register.
 
 300 
 
 VfCv *V - *" 
 
 STA TEMENT of the expenditures of the United States, from the 
 1st of January to the 3Qth September. 1824. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC. 
 
 Legislature 
 
 Executive departments - 
 
 Officers of the mint 
 
 Commissioner of the Public Buildings - 
 
 Surveying department - 
 
 Governments in the Territories of the 
 
 United States 
 Judiciary 
 
 Annuities and grants 
 Mint establishment 
 
 Payment of demands for unclaimed mer- 
 chandise 
 
 Light-house establishment 
 Surveys of public lands 
 Boundary lines between Missouri and 
 
 Arkansas 
 
 Land claims in Florida Territory 
 Registers and receivers of land offices - 
 Repairing road from Cumberland to Ohio 
 Roads within the Indian territory, from 
 
 Nashville to New Orleans 
 Roads within the State of Indiana 
 Roads within the State of Alabama 
 Roads and canals within the State of Mis- 
 
 souri - 
 
 Payment to Ohio of the nett proceeds of 
 lands sold under the 3d section of the 
 act of 28th February, 1823 - 
 Marine hospital establishment - 
 Public buildings in Washington 
 Payment of certain certificates - 
 Payment of balances to collectors of new 
 
 internal revenue 
 
 Payment of balances to officers of old in- 
 ternal revenue and direct tax 
 Accommodation of the President's house- 
 hold - 
 
 Miscellaneous expenses - 
 Payment of claims for property lost 
 Land claims in St. Helena land district - 
 
 $515,388 39 
 
 358,226 46 
 
 6,910 00 
 
 1,125 00 
 
 13,520 56 
 
 22.457 79 
 160,236 88 
 
 1,653 02 
 21,469 76 
 
 784 27 
 
 110,397 82 
 
 87,630 00 
 
 1,000 00 
 
 10,297 46 
 
 706 00 
 
 17,000 00 
 
 7,920 00 
 11,462 73 
 32,969 01 
 
 3,282 79 
 
 10,206 41 
 
 35,445 84 
 
 87,800 76 
 
 331 10 
 
 353 73 
 
 530 26 
 
 839 24 
 
 106,51)9 22 
 
 20 00 
 
 937 50 
 
 $1,077,865 08
 
 1824.] 
 
 SECRETARY OF THE TREASURY. 
 
 Diplomatic department - - $56,023 95 
 
 Contingent expenses of foreign intercourse 15,664 83 
 Missions to the independent nations on the 
 
 American continent 28,669 72 
 
 Relief and protection of American seamen 23,457 36 
 
 Treaty of Ghent, (4th, 6th, and 7th articles) 10,01 1 44 
 
 Treaty of Ghent, (1st article) 10,699 10 
 
 Treaty with Spain 15,517 60 
 
 Claims on Spain "-^ 4,775,671 99 
 
 Treaties with Mediterranean powers 5,000 00 
 
 MILITARY DEPARTMENT, VIZ : 
 
 Pay of the army 
 Subsistence r r '-; 
 
 Forage 
 Clothing - 
 
 Medical and hospital department - 
 Contingencies 
 Ordnance 
 
 Quartermaster's department 
 Fortifications 
 
 Repairs and contingencies of fortifications 
 Fort Monroe 
 Fort Calhoun 
 Fort Washington 
 Fort Delaware 
 Fort on Mobile Point 
 Fort at the Rigolets 
 Fort Jackson, at Plaquemine Turn 
 Fort at Brenton's Point 
 Fort at New Utretcht Point 
 Repairs of Plymouth beach 
 Harbor of Presque Isle 
 Improving the Ohio and Mississippi rivers 
 Surveys, &c. of roads and canals 
 Relief of officers, &c. of Seminole cam- 
 paign 
 
 Military Academy, West Point . - 
 Medals for officers 
 Arrearages -^ 
 
 Balances due to certain States 
 Bounties and premiums - 
 Gratuities 
 
 Expenses of recruiting - 
 Armories 
 Arsenals 
 
 Arming and equipping the militia 
 National armory, western waters - 
 Purchase of Gridley's farm 
 Purchase of woollens for 1825 
 Ransom of American captives 
 
 819.361 57 
 
 202,794 14 
 
 32.985 44 
 
 151^073 46 
 
 20,170 56 
 
 10,173 46 
 
 31,584 97 
 
 227,353 30 
 
 227 70 
 
 7,956 65 
 
 72,077 35 
 
 57,102 09 
 
 9,275 14 
 
 11,500 00 
 
 84,630 99 
 
 92,000 00 
 
 54,824 17 
 
 28,500 00 
 
 5,000 00 
 
 10,000 00 
 
 1,000 00 
 
 2,736 84 
 
 16,379 00 
 
 10,355 27 
 9,892 31 
 2,215 00 
 23,157 46 
 5,510 27 
 21,332 95 
 12,176 72 
 6.235 70 
 294,357 38 
 1,800 00 
 142,289 81 
 3,117 00 
 10,000 00 
 - < 12,000 00 
 652 75 
 
 $ 4,940,71 5 99
 
 302 
 
 REPORTS OF THE 
 
 
 [1824. 
 
 Maps, plans, &c. for War Office - 
 
 Road from Plattsburg to Sackett's Harbor 
 
 Road from Ohio to Detroit 
 
 Road from Pensacola to St. Augustine 
 
 Relief of sundry individuals 
 
 Invalid and half-pay pensions 
 
 Revolutionary pensions 
 
 Purchase and reservation of Indian lands 
 
 in Georgia 
 
 Purchase of duapaw lands 
 Treaty with the Choctaws 
 Treaty with the Creeks - 
 Treaty with the Florida Indians - 
 Military escort to Florida Indians 
 Civilization of Indians 
 Pay of Indian agents 
 Pay of sub-agents 
 Presents 
 
 Contingencies, Indian department, 
 Indian annuities 
 
 From which deduct the following re- 
 payment : 
 Expenses of holding treaties with Indians, 
 
 per act of 20th April, 1818 $599 67 
 Fort opposite Fort St. Philip 168 00 
 
 $652 75 
 
 1,350 00 
 
 125 00 
 
 15,000 00 
 
 133,600 78 
 
 230,442 93 
 
 1,266,531 23 
 
 4,000 00 
 
 7,000 00 
 
 480 00 
 
 23,000 00 
 
 23,657 50 
 
 3,500 00 
 
 10,011 49 
 
 24,799 24 
 
 10,868 33 
 
 15,249 95 
 
 98,353 70 
 
 176,825 00 
 
 4,549,142 16 
 
 767 67 
 
 NAVAL DEPARTMENT, VIZ : 
 
 Pay of the navy $153,309 12 
 
 Provisions - -; 227,951 88 
 
 Medicines - 33,179 66 
 
 Repairs of vessels 303,608 01 
 
 Ordnance and ordnance stores - 20,017 48 
 
 Navy yards, &c. 54,528 41 
 
 Pay of the navy afloat - - 544,908 33 
 
 Pay of the navy shore stations - - 169,221 06 
 
 Contingent expenses, prior to 1824 100,533 57 
 
 Contingent expenses for 1824 - 87,826 99 
 
 Contingent expenses, not enumerated - 44 45 
 
 Gradual increase - - 225,544 58 
 
 Inclined plane docks, &c. - 7,712 53 
 
 Ship-houses - 31,386 60 
 
 Suppression of piracy - 14,036 12 
 
 Prohibition of the slave trade - - 12,535 03 
 
 Survey of the coast of Florida - 855 67 
 
 Survey of Charleston harbor - 2,962 37 
 
 Superintendents, artificers, &c. - - 3,182 10 
 
 Laborers, and fuel for engine - - 7,432 97 
 
 1,548,374 49
 
 1824.1 
 
 SECRETARY OF THE TREASURY. 
 
 303 
 
 Rewarding officers and crews of two gigs, 
 
 under command of Lieutenant Gregory $3,000 00 
 
 Captors of Algerine vessels 56 59 
 
 Relief of sundry individuals 1,619 26 
 
 Pay and subsistence of marine corps 129,904 66 
 
 Clothing for the marine corps - 19,592 42 
 
 Military stores for the marine corps 3,051 25 
 
 Fuel for the marine corps 3,775 93 
 
 Contingent for the marine corps - 5,288 41 
 
 Medicines for the marine corps - 450 29 
 
 Barracks for the marine corps - 5,631 81 
 
 2,173,147 55 
 
 From which deduct the following repay- 
 ments : 
 
 Rewarding the officers and crew of the Con- 
 stitution - $66 63 
 
 Building barges - - 409 58 
 
 476 21 
 
 $2,172,671 34 
 
 PUBLIC DEBT, VIZ : 
 
 Interest, &c., domestic debt - 4,101,284 94 * r 
 
 Redemption of seven per cent, stock - 4,170,623 97 
 
 Reimbursement of Mississippi stock 2,600 00 
 
 Principal and interest of Treasury notes - 20 00 
 
 8.274,528 91 
 
 $21,563,702 73 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 16, 1824. 
 
 JOSEPH NOURSE, Register,
 
 304 
 
 REPORTS OF THE 
 
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 306 
 
 REPORTS OF THE 
 M. 
 
 [1824. 
 
 SUMMARY STATEMENT of proposals made by the Bank of the 
 United States and others for the loan of five millions of dollar : s, author- 
 ized by the act of the 26th of May, 1824. 
 
 By the bank (upon the condition of receiving the entire 
 
 loan) at par 
 
 By individuals 
 
 At par 
 
 At -| per cent, advance 
 
 At 1 
 
 do. 
 
 At l T f, 
 
 do. 
 
 At H 
 
 do. 
 
 At 1 
 
 do. 
 
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 do. 
 
 At 1 1 
 
 do. 
 
 At 2 
 
 do. 
 
 At 21 
 
 do. 
 
 At 3 
 
 do. 
 
 At 4 
 
 do. 
 
 At 4/ r 
 
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 $5,000,000 00 
 
 1,004,000 00 
 50.000 00 
 60.000 00 
 
 1,OOOJOOO 00 
 10,000 00 
 10,000 00 
 10,000 00 
 10,000 00 
 50,000 00 
 28,586 37 
 30.000 00 
 10JOOO 00 
 200,000 00 
 
 2.472,586 37 
 At such premium as may be fixed upon for the entire loan, 
 
 not to exceed 5 per cent. 
 In stock, on as favorable terms as the loan is taken, not 
 
 exceeding 2 p* r cent, advance 30,000 00 
 
 At par, or, if the v*hole loan is made at an advance, at such 
 
 an advance at w^ich it may be effected 32,000 00 
 
 20,000 00 
 
 Making an average prtminm of 97^ cents per cent, on - $2,554,586 37
 
 1824:]' 
 
 SECRETARY OF THE TREASURY. 
 
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 309 
 
 REPORTS OF THE 
 
 No. 1. 
 
 [1824., 
 
 STATEMENT of the^ebt of the United States, October 1, 1823. 
 
 \ " 
 Deferred six per cent, stock,. unredeemed\mount - 
 Three per cent, stock 
 Exchanged six per cent, stock 
 
 Six per cent, stock of 1812 - \ - 
 Do. do. 1813 (1G millions) \. 
 Do. do. 1813 (7t millions) - 
 Do. do. 1814 - 
 Do. do. 1815 - 
 Treasury note six per cent, stock 
 Do. seven per cent, stock - 
 Five per cent, stock subscription to Bank United Slates 
 Do. of 1820 
 Do. of 1821 
 Exchanged five per cent, of 1822 
 
 ''."'' " '"' * ' r ' 
 
 $632,112 14 
 13,21)6,231 45 
 2,668,974 99 
 
 816,597,318 5b 
 73,854,545 43> 
 
 6,187,006 84 
 15,497,818 63 
 6,812,845 44 
 13,001,437 63 
 9,490,099 10 
 1,466,847 34 
 8,606,490 27 
 7,000,000 00 
 999,999 13 
 4,735,296 30 
 56,704 77 
 
 \ 
 ' ' \ "* 
 
 90,451,864 03 
 
 TREASURY DEPARTMENT, 
 
 Register's Office. December 23, 1824. 
 
 JOSEPH NOURSE, Register, 
 
 No. 2. 
 STATEMENT of the debt of the United Slates, Januaty 1, 1824. 
 
 Deferred six per cent, stock, unredeemed amo.unt - 
 Three per cent, stock 
 Exchanged six per cent, stock 
 
 Six per cent, stock of 1812 - 
 Do. do. 1813 (16 millions) 
 Do. do. 1813 (7* millions) - . 
 Do. ,do. 1814 - 
 Do. do. 1815 - 
 Treasury note six per cent, stock 
 Do. seven per cent, stock - ; - - 
 Five per cent, stock subscription to Bank United Stales -, 
 Do. of 1820 - , - 
 Do. of 1821 . ,- . . - 
 Exchanged five per cent, of 1822 
 
 / 
 
 $357,546 26 
 13,296,231 45 
 2,668,974-99 
 
 $16,3^752- 70 
 73,855,262 20 
 
 6,187,006 84 
 15,497,818 63 
 6,812,845 44 
 13,001,437 63 
 9,490,099 10 
 1,467,564 09 
 8,606,490 27 
 7,000,000 00 
 999,999 13 
 4,735,296 30 
 56,704 77 
 
 
 90,178,014 90 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 23, 1824. 
 
 JOSEPH NOURSE, Register.
 
 1824.] SECRETARY OF THE TREASURY, 309 
 
 No. 3. 
 STA TEMEXT of the debt of the United States, 1st October, 1824. 
 
 Three per cent, stock - $13,296,231 45 
 
 Exchanged six per cent, stock - 2,668,974 99 
 
 $15,965,206 44 
 
 Six per cent, stock of 1812 - 6,187,006 84 
 
 Six per cent, stock of 1813 (16 millions) "15,497,818 63 
 Six per cent, stock of 1813 (7 millions) *6,812,845 44 
 Six per cent, stock of 1814 - 13,001,437 63 
 
 Six per cent, stock of 1815 - - 9,490,099 10 
 
 Treasury note six per cent, stock ] ,467.564 09 
 
 Treasury note seven per cent, stock 4,483,093 17 
 
 Five per cent, stock, (subscription to the 
 
 Bank of the United States) - 7.000,000 00 
 
 Five per cent, stock of 1 820 ' - .- 1 : --T * 999,999 13 
 Five per cent, stock of 1821 - 4.735,296 30 
 
 Exchanged five per cent, stock of 1822 - 56,704 77 
 
 Four and one-half per cent, stock, per act 
 
 of the 24th May, 1824 5,000,000 00 
 
 74,731,865 10 
 
 Amount - $90,697,071 54 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 23, 1824. 
 
 JOSEPH NOURSE, Register. 
 
 * There has been issued, since the 1st of October last, tinder the act of the 26th May, 1824, 
 certificates of four and one-half per cent, stock, in exchange for an equal amount of the sis 
 per cent, stocks of 1813, subscribed prior to that day, the sum of $3,303.307 45, 
 
 NOTE. 
 
 nf:r'J>.';>. ; ->ri ad; ;{'.' ,- .b -t^yi bn>; 
 
 The amount of the debt on the 1st October, 1823, per estimate (No. 3) 
 which accompanied the Secretary's report of the' 3 1st December, 1823, 
 was stated at - - $90,451,834 24 
 
 The reimbursement of the deferred stock, to that day, in- 
 clusive, was over-estimated -' 1^-^ - 29 79 
 
 Amount of the debt on the 1st October. 1823, per statement 
 
 No. 1, herewith - $90,451,864 03 
 
 Add Treasury note six per cent, stock, issued in the fourth 
 
 quarter of 1823 716 75 
 
 $90,452,580 78 
 
 Deduct reimbursement of deferred stock on the 31st De- 
 cember, 1823 - '*:'- 274,565 88
 
 310 REPORTS OF THE [182-1. 
 
 Amount of the debt on the 1st January, 1824. per statement 
 
 No. 2, herewith - 890.178.014 90 
 
 Add four and one-half per cent, stock, issued under the act 
 of the 24th May, 1834 5,000,000 00 
 
 895,178.014 90 
 Deduct, reimbursement of deferred stock 
 
 during the first three quarters of 1824- $357,546 26 
 And the seven per cent, stock purchased 
 under the act of 22d January, 1S24 - 4,123.397 10 
 
 4,480,943 36 
 
 Amount of the debt on the 1st October. 1S24, as above 
 
 stated - ' - $90,697,071 54 
 
 Add estimated amount of four and one-half per cent, stock 
 proposed to be issued during the fourth quarter of the 
 present year, under the act of the 26th May, 1824 - 2,500,000 00 
 
 $93,197,071 54 
 
 Deduct payments to be made during the same period; viz : 
 For the redemption of .the exchanged six 
 
 per cent, stock $2,668.974 99 
 
 Residue of the seven per cent, stock - 4.483.093 17 
 
 7,152,068 16 
 
 Which will reduce the debt on the 1st January, 1825, to - $86,045.003.38 
 
 ESTIMA TED amount of- Treasury notes outstanding on the 1st Octo- 
 ber, 182/1. 
 
 Total amount issued, as per No. 4, of last report - $36,680.794 00* 
 
 Cancelled and reported on by the First Auditor - 36,661,038 00 
 
 Outstanding *,, ?_ 
 
 Consisting of small Treasury notes, j } ^ 
 Notes bear in 2; interest - 
 
 $19,756 00 
 
 sbb ar?J 
 
 $19,756 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 23, 1S24. 
 
 JOSEPH NOURSE, Register. 
 
 j 
 
 -sG Ja'Ifc i >rft iiu ;pote IJOT: .):>!> tu <- M^roH
 
 1824.] SECRETARY OF THE TREASURY. 3il 
 
 - r '*- 
 
 No. 5. 
 
 " ' 
 
 >S'21 TEMENT of the slock issued -under the act of Congress entitled 
 u An act supplementary to the act for the indemnification of certain 
 claimants of public lands in the Mississippi Territory" passed on the 
 3d of March, IS 15. 
 Amount of claims awarded, per statement No ; 5. of last 
 
 report ;>ia .- $4,262,151 12 
 
 Whereof there was paid in for lands, per said report - $2,447,535 39 
 Payments at the Treasury to .the 30th 
 September, 1S23 , . - $1,813,356 86 
 
 Payments from 1st October. 1823, to 1st 
 December, 1824 - 7,242 34 
 
 '- 1,820,599 20 
 
 Balance 1st December, 1824, consisting of 
 
 Certificates outstanding \'~ ' ;l 13,971 93 
 
 Awards not applied for 44 60-J 
 
 14,016 534 
 
 $4,282,151 12J- 
 
 TREASURY DEPARTMENT, " 
 
 Regist&'s Office, December 23, 1824. 
 
 JOSEPH NOURSE, Register,
 
 312 REPORTS OF THE [1825. 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1825. 
 
 In obedience to the directions of the act supplementary to the act enti- 
 tled "An act to establish the Treasury Department." passed on the 10th 
 of May, 1800, the Secretary of the Treasury has the honor to submit to 
 Congress the following report. 
 
 I. OF THE PUBLIC REVENUE AND EXPENDITURE OF THE YEARS 1824 
 
 AND 1825. 
 
 There being no direct taxes of any kind, duties of excise, or other inter- 
 nal duties, in operation under the authority of the United States, the public 
 revenue, by their existing laws, arises almost entirely from duties upon for- 
 eign merchandise imported, and upon tonnage, and from the sale of the 
 public lands. There are other branches from which small and occasional 
 receipts are derived: as dividends on bank stock, the .post office, arrearages 
 of taxes due under former laws, and other incidental payments ; the aggre- 
 gate of which, whether from temporary or permanent sources, is inconsider- 
 able, as will appear by statements annexed to this report, where all are reca- 
 pitulated. The receipts from the post office, indeed, have of late years 
 exceeded a million of dollars annually : but this sum, exhausted for the most 
 part in defraying the expenses of that extensive and useful establishment, 
 performs in this manner the highest purposes of revenue, by contributing to 
 the intercourse, the trade, and the prosperity of the country. 
 
 The nett revenue which accrued from duties on imports and tonnage, 
 during the year 1S24, amounted (see statement A) to $20 ; 385,430 42 
 
 The actual receipts into the Treasury from all sources, during the year 
 1824, amounted (including the loan of five millions at 4^ per cent, interest, 
 to discharge Florida claims) to - "- $24,381.212 79 
 
 Viz. 
 
 Customs (statement A) - $J 7,878.325 71 
 
 Public lands (statement D) 984^418 15 
 
 Dividends on stock in the Bank of the 
 United States, arrears of internal duties 
 and direct taxes, and incidental receipts 
 (statement E) - - 472,987 04 
 
 Repayments of advances made in the 
 War Department for services and supplies 
 prior to the 1st of July, 1816 - 45,481 89 
 
 Loan made under the act of the 24th of 
 May, 1824, " to provide for the awards 
 of the commissioners under the treaty 
 with Spain" - 5,000,000 00 
 
 Makins", with the balance in the Treasury on the 1st of 
 January, 1824, of - 9,463,92281 
 
 An aggregate of - $33,845,135 60
 
 1S25.] SECRETARY OF THE TREASURY. 313 
 
 The regular and permanent expenditures of the United 
 States divide themselves into two principal branches first, 
 the sums authorized by law for defraying the whole expenses 
 of the Government, domestic and foreign, civil, military, and 
 naval ; second, those provided for the payment of the interest 
 and principal of the public debt. 
 
 The actual expenditures of the nation, on all accounts, 
 during the year 1824, amounted (statement F) to - $31,898,538 47 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $7.155,308 81 , - 
 Military service, including fortifications, 
 ordnance, Indian department, revolution- 
 ary and military -pensions, arming the 
 militia, and arrearages prior to the 1st of 
 January, 1817 - 5,270,254 34 
 
 Naval service, including the gradual in- 
 crease of the navy - 2,904.581 56 
 Public debt - 16,568^393 76 
 
 Leaving a balance in the Treasury, on the 1st of January, 
 1825. of - $1,946,597 13 
 
 The difference between this balance and that stated in the last annual 
 report from the Treasury is reconciled by the facts that the balance, last 
 year, was given as an estimated balance, subject to correction by actual 
 settlement afterwards; and that it included the moiety of the loan of five 
 millions, under the act of May 26, 1824, which was not paid into the 
 Treasury until after the 1st of January. 
 
 The actual receipts into the Treasury, during the first three quarters of 
 the year 1825, are estimated to have amounted to - $21,681,444 56 
 
 Viz. 
 
 Customs - -fl5,196,397 00 
 
 Public lands, (statement G) 976,902 67 
 
 Dividends on stock in the Bank of the 
 
 United States 367,500 00' 
 
 Arrears of internal duties and direct taxes, 
 
 and incidental receipts, (statement H) - 98,886 29 
 
 Repayments of advances made in the War 
 
 Department, for services or supplies 
 
 prior to 1st of July, 1816 - , 41,758 60 
 
 Loan under the act of May 26, 1824 . ;>-J 5.000,000 00 
 
 And the actual receipts into the Treasury, during the fourth 
 
 quarter of the year, are estimated at - , ..-^\! 5,100,00000 
 
 Making the total estimated receipts into the Treasury, 
 
 during the year 1825 - 26,781,444 56 
 
 And, with the balance in the Treasury on the 31st Decem- 
 ber, 1824, of - . - - : ,*.; 1,946,59713 
 
 An aggregate of - - 28,728,041 69
 
 314 REPORTS OF THE [1825 
 
 The expenditures, during the first three 
 quarters of the year 1825, are estimated 
 to have amounted (statement I) to $20.190,979 91 
 
 Viz. 
 
 Civil, diplomatic, and mis- 
 cellaneous - $2.098,525 16 
 
 Military service, including 
 fortifications, ordnance, 
 Indian department, revo- 
 lutionary and military 
 pensions, arming the mi- 
 litia, and arrearages prior 
 to the 1st January. 1817 4,890,310 59 
 
 Naval service, including 
 the gradual increase of 
 the navy - - 2,127,156 37 
 
 Public debt - 11,074,987 79 
 
 And the expenditures, during the fourth 
 quarter, are estimated at' 
 Viz. 
 
 Civil, diplomatic, and mis- 
 cellaneous - $445,000 00 
 
 Military service, including 
 fortifications, ordnance, 
 Indian department, revo- 
 lutionary and military 
 pensions, arming the mi- 
 litia, and arrearages prior 
 to the 1st January, 1817 '960,000 00 
 
 Naval service, including 
 the gradual increase of' 
 the navy 820.000 00 
 
 Public debt - - 1.028',000 CO 
 
 Making the total estimated expenditure of the year 1825 $23.443.979 91 
 
 And leaving in the Treasury, on the 1st of January, 1826, 
 
 an estimated balance of - $5.234,061 78 
 
 < '('\'( f : ^i V ~- 
 
 Should the expectations formed respecting the receipts in the fourth 
 quarter be realized, the amount of receipts for the whole year will have 
 exceeded the estimate presented by the Treasury at the last session of 
 Congress, by about $500,000. 
 
 Il is to be remarked that, of the above estimated balance of $5.284,061 78. 
 the sum of $3,500,000 is not subject to appropriation, being the estimated 
 amount that will remain, on the 31st of December next, unsatisfied, of appro- 
 priations heretofore made. These appropriations; being necessary for the 
 objects for which they were severally made, are still an existing charge 
 upon the means of the Treasury. Of the residuary balance of $1,784,061 78, 
 it is proper distinctly to state that about one million cannot be counted upon 
 in any estimate of effective funds for the public service. It is niade up of
 
 ; '1S25.] SECRETARY OF THE TREASURY. 315 
 
 debts due from various hanks, whose. notes were received by the Government 
 during the suspension of specie payments, or which were heretofore used as 
 banks of deposite: debts of -which the recovery must, in regard to a large 
 part, be doubtful, and in any case slow. It may be proper to add, that the 
 permanent deposiles. generally made in the State banks, have recently been 
 withdrawn, or put in train to be so ; the public exigencies which rendered it 
 necessary to make them, in common with those on which' the losses above 
 mentioned are likely to occur, no longer existing. Such portions of the de- 
 posites as may still remain in any of These institutions will be further with- 
 drawn, as circumstances may render just and expedient, until these opera- 
 tions are closed ; nor will they be renewed where it may be avoidable. 
 
 It may be proper, also, to state that directions have lately been issued to 
 all the receivers and collectors of the public revenue not to receive, in any 
 payments made to them, bank notes of any of the State banks, of less amount 
 than five dollars. In discountenancing a species of paper circulation deem- 
 ed to be objectionable, reference was had to the authority and example of 
 Congress upon this point, as seen, in the prohibition to the Bank of the 
 United States, and to the banks existing in the District of Columbia, against 
 issuing notes of a lower denomination. To guard against all inconvenience 
 to individuals from the adoption of this measure by the Treasury, especially 
 in the districts where the public lands are sold, an adequate previous notice 
 was directed to precede its enforcement. 
 
 II. OF THE PUBLIC DEBT. 
 
 The total amount of funded debt due on the 1st of Oc- 
 tober, 1825, (statement No. 3.) was - $80,985 ; 537 72 
 
 Of the above amount, the only portion remaining unpaid 
 of the revolutionary debt, is the three per cents., amounting 
 to $13 ; 296.231 45. This sum and the subscription of seven 
 millions in the Bank of United States, at five per cent, (the 
 United States holding an equal amount in the shares of that 
 institution) are redeemable at tlie pleasure of the Govern- 
 ment ; making together - - - $20.296,231 45 
 
 The residue of the public debt, contracted subsequently to the 1st of 
 January, 1812, and amounting to $60.689,306 27, exists in the following 
 portions, and is redeemable at the following periods, viz : 
 
 In 1826. being the residue unpaid of loans made in 1813 $16,270,797 24' 
 In 1827, beincr the residue unpaid of loans made in 1814 13.096.542 90 
 In 1828, being the residue unpaid of loans made in 1815 9^490,099 10 
 The stock of the foregoing portions of the debt, is all at 
 6 per cent. 
 
 I'i 1829. stock at 4i per cent., being the moiety of 6 per 
 cent, stock of 1813. exchanged under" the act of Confess 
 of March 3d. 1825' 792.569 44 
 
 In 1830, stock at 4 per cent , being the other moiety 
 exchanged as last above stated 792,569 44 
 
 In 1831, stock at 5 per cent. This is one-third of the 
 sum of $56,704 77, issued in exchange for the 6 per cents 
 of 1813, 1814, and 1815, subscribed'under the act of the 
 20th of April, 1822 18.901 59 
 
 In 1832, stock at 5 per c^nt.. being one other third part 
 of the sum subscribed, as last above'stated - - 18.901 59
 
 316 REPORTS OF THE [1825. 
 
 . In 1832, stock at 4^- per cent., borrowed of the Bank of 
 the United States, one half to pay the Florida claims, the 
 other half to pay off the 6 per cents of 181 2. under the act 
 of Congress of May 26, 1824 - - - - $10,000,000 00 
 
 In 1832, stock at 5 per cent., under the act of Congress 
 of May 15, 1820 999,999 13 
 
 In 1833, stock at 5 per cent., being the remaining third 
 subscribed under the act of April 20, 1822 18,901 59 
 
 In 1833, stock at 4-^- per cent., being one moiety of the 
 amount subscribed in exchange for 6 per cent, stock of 
 1813, under the act of May 26, 1824 - 2,227,363 97 
 
 In 1834, stock at 4| per cent., being the other moiety 
 subscribed as last above stated - - 2,227,363 98 
 
 In 1835, stock at 5 per cent., being the amount issued 
 under the act of Congress of Marched, 1821 - - 4,735,296 30 
 
 Total redeemable at the periods specified - 60,689,306 27 
 
 Total redeemable at the pleasure of the Government - 20,296 231 45 
 
 Total amount of funded debt on the 1st day of October, . 
 1825 - - - - - 80,985,537 72 
 
 The amount of Treasury notes outstanding on the 1st "of October, 1825, 
 is estimated (No. 4) at $16,600. 
 
 And the amount of Mississippi stock unredeemed on that day, includ- 
 ing awards not applied for, (No. 5,) at $7,850 17. 
 
 The foregoing recapitulation exhibits the precise amount of the public 
 debt now due, as well as the different periods at which, by the terms of the 
 several loans under which it was contracted, the United States are at liberty 
 to pay it off. Of the sum of $11,074,987 79, mentioned, under the head of 
 expenditures for 1825, as having been paid off in that year, $7,727,052 19 
 were on account of principal of the debt, and the remainder on account of 
 interest during the first three quarters of the year. Nearly the whole of the 
 principal thus paid was outstanding at an interest of 6 per cent. Looking 
 to the above recapitulation, it appears that in the years 1826 and 1827, a 
 larger amountof debt becomes redeemable than it will fall within the ordinary 
 surplus means of the Government to pay in the course of those years, viz : a 
 sum exceeding sixteen millions in the former, and thirteen millions in 
 the latter year. Both these portions of the debt are also at an interest of six 
 per cent. In 1828, the amount redeemable is at a point which it may be 
 hoped the stated means of the Treasury for that year will reach ; the ability 
 to pay off increasing as the process of reduction advances, both by the in- 
 creasing means of the nation and the annual liberation of interest on the 
 amount of debt reduced. But in the year 1829 only a very small amount 
 becomes redeemable, viz : less than one million, and in the year 1830 a sum 
 no larger. 
 
 At the period of the last annual report from the Treasury, no portion of 
 the debt became redeemable in either of those years; and with a view to a 
 more equal diffusion of payments, as well as to effect a saving in interest, it 
 was recommended that the excess of debt, which could not by the ordinary 
 resources of the Treasury be discharged in 1826 and 1827, (the debt re- 
 deemable in the former year then standing at $19,000,000,) should be 
 thrown in equal portions upon the years 1829 and 1830. To carry this
 
 (1825.] SECRETARY OF THE TREASURY. 317 
 
 recommendation into effect, so far as applied to the year 1826, a loan of 
 twelve millions was recommended, at 5 per cent. ; one half to be redeemable 
 in 1829, the other half in 1830; the entire twelve millions being intended 
 to constitute a fund with which, in conjunction with the annual surplus 
 means of the Treasury, to pay off the nineteen millions redeemable in 1826. 
 The principle of the recommendation was adopted by Congress, but not its 
 precise terms. An act was passed on the 3d of March, 1825, authorizing an 
 exchange of stock to the amount of twelve millions of dollars, at four and a 
 half per cent., for a stock of like amount at six per cent.; the latter being so 
 much of the stock of 1813 as was intended by the act to be redeemed. The 
 act also authorized a loan to the same amount, and at the same rate of inter- 
 est, to accomplish the same object; both modes not to be pursued, if either 
 succeeded. The new stock of four and a half per cent. , whether proceeding 
 from the exchange or the loan, was, by the terms of the act, to be subject 
 to redemption in 1829 and 1830, in equal portions. The proper measures 
 were taken to execute this act, but have prevailed only to a limited ex- 
 tent. The operation of exchange, which was first resorted to, took effect to 
 the amount of $1.585,138 88; and. this sum, divided into equal parts, forms 
 the two sums that now stand in the general table of the debt as redeemable 
 in the years 1829 and 1830, whilst they have also served to diminish, by so 
 much, the six per cent, stock of 1813. Proposals for a loan for the residue 
 of the sum wanted were next issued; but no offers were received. 
 
 The causes of the failure, it may be presumed, were the low rate of in- 
 terest and short periods of redemption held out by the act, in conjunction 
 with an activity in the commercial and manufacturing operations of the 
 country, affording higher inducements to the investment of capital. This 
 mode of dealing with the debt, whereby, through the instrumentality of new 
 loans, stock at a high interest is converted into stock at a reduced interest, 
 and whereby, also, the extinguishment of the principal is made to fall in 
 payments as nearly equal as may be throughout a given number of years, 
 is evidently advantageous to the public; since it not only lessens the national 
 expenditure, on account of its interest, but guards against the possible accu- 
 mulation of money in the Treasury, in years when it might remain inactive, 
 towards the progressive reduction of the debt. As it is a mode fully sanc- 
 tioned by Congress heretofore, it is respectfully recommended, on this occa- 
 sion, that an act be passed, at an early day of the session, giving authority 
 to borrow nine millions of dollars, at an interest not exceeding 5 per cent, 
 redeemable in equal portions in 1829 and 1830, in order that the Treasury- 
 may be enabled to pay off, in 1826, the entire remaining amount of the 6 per 
 cent, stock of 1813 redeemable in that year. Nine million, with the dis- 
 posable means which the Treasury will probably have at command in 1826, 
 it is believed, will form a sum commensurate with this object. Five per 
 cent, is named as the maximum of interest, and, considering the short periods 
 of redemption, it is not probable that the loan could be obtained at a lower 
 rate. The contingencies of the money market might, indeed, produce more 
 favorable offers : but these are not to be counted upon, with any approach to 
 that certainty which should form the basis of such a financial operation. 
 
 Should the act in question be passed, it is further respectfully recommend- 
 ed that, in the event of the loan being obtained under it, authority be given to 
 issue to the holders of the stock under the 3d of March last, exchanged stock 
 equal to the amount of the subscription before stated, viz: $1,585,138 88, 
 bearing the same rate of interest as that which may be issued under the act
 
 318 REPORTS OF THE [1825. 
 
 proposed.' The two acts will have had precisely the same object. The se- 
 cond, should it succeed, will only have consummated an operation which 
 will date its inception from the first. It is therefore considered that it 
 will belong to a proper estimate of good faith to place the stockholders 
 under both acts upon a footing of equality. Those who were willing to ac- 
 cede to the terms of the Government at an early day in this transaction, 
 should not be left in a worse situation than those who may have held back 
 in the hope of better offers. Let all be treated alike. It is thus that the 
 Government will exalt itself before the nation. It is thus that, substituting 
 an expanded justice for the mere letter of a bargain, it will be likely to in- 
 vite still larger confidence in future. It is thus that it will ultimately be 
 the gainer, by that connexion invariably subsisting between the permanent 
 interest of every Government, and its standing of unimpeachable and spon- 
 taneous equity in the eyes of the public creditor. 
 
 Should an act for the loan of nine millions be passed, a considerable sur- 
 plus of debt, at (3 per cent., will still remain to be provided for, for the ser- 
 vice of 1827; more than thirteen millions of the stock of 1814 becoming 
 redeemable in 1827, the whole cannot be redeemed in that year, but with 
 the aid of a loan. A loan of six millions would be sufficient, in all proba- 
 bility. for this purpose, and is, accordingly, recommended; the interest not 
 to exceed five per cent., and the amount to be also subject to redemption in 
 1829 and 1830, in equal portions. The effect of the two loans recommend- 
 ed, which it would be most desirable to authorize in distinct acts, would, it 
 is believed, be to enable the Government to~ redeem the whole of the six 
 per cent, stock of 1813 and 1814, in the course of 1826 and 1827. It would 
 also throw upon each of the years 1829 and 1830 an amount of debt equal 
 to about eight millions and a half, instead of less than one million. "according 
 to the distribution as at present existing. The- only remaining stock of six 
 per cent, would then be that of 1815. in amount under nine millions and 
 a half, redeemable in 1S2S. Should no unforeseen-expenditures arise, and a 
 proper economy -be kept up in the public administration, it may reasonably 
 be hoped, as before intimated, that the surplus revenue at the disposal of the 
 Treasury, in 1828, will be equal to the reimbursement-of that sunn. After 
 1830, the whole amount of debt, on the results herein assumed, would stand 
 at about forty millions ; full one-half of which will he redeemable at the 
 pleasure of the Government. No portion of it will be at an interest exceed- 
 ing five per cent., whilst the principal part will e at a rate still lower. 
 With these views of "the public debt, so encouraging in their bearing upon 
 its speedy, certain, and regular extinguishment, it is not deemed necessary 
 to recommend, at present, any other measure/in relation to it than the two 
 loans described^ 
 
 III. OF THE ESTIMATE OF THE PUBLIC REVENUE AND EXPENDITURE 
 
 ' 
 
 The public revenue is derived in an amount so preponderating from for- 
 eign commerce, that the state of the latter is always to be chiefly looked to, 
 in every prospective view of the national income. As the internal business 
 of the country has worn a character of activity and increase during the pre- 
 sent year, so has also its foreign trade, by that close connexion which sub- 
 sists between them. The exports for the year ending on the 30th Septem- 
 ber last have exceeded ninety-two millions of dollars. The imports have 
 exceeded ninety-one millions. Of the exports, upwards of sixty-six millions 
 were of domestic, and the remainder of foreign productions. 
 
 Of the imports, upwards of eighty-six millions were in American vessels ,
 
 1S25.] SECRETARY OF THE TREASURY. 319 
 
 of the exports, upwards of eighty-one millions. Considering that the ves- 
 sels of those foreign nations with which the United States have the most 
 extensive commercial intercourse are now placed upon a footing of equality, 
 as to duties and charges of whatever kind, in onr ports, with the vessels of 
 the United States, this heavy excess of American tonnage is a signal proof 
 of the flourishing state of our navigation. It may serve to show how the 
 efficient protection extended to it by the early laws of Congress succeeded 
 in establishing it in a manner to meet and overcome all competition. Be- 
 fore the era of those laws, it is known how this great interest languished; 
 how little able it proved, before the auxiliary hand of Government was 
 stretched out, to support itself against the established superiority and over- 
 whelming competition which it had to face in the world. 
 
 The foregoing amount of exports exceeds, by about seventeen millions of 
 dollars, the average amount for the three years preceding. The imports 
 exceed, by about eleven millions, the same average. Whilst, this large ex- 
 cess of exports, during the past year, arises chiefly from the produce of the 
 soil, it is satisfactory to know that domestic manufactures have lent their 
 contribution. Of the latter, there have been exported to the value of be- 
 tween five and six millions of dollars. This is an excess of eight hundred 
 thousand dollars over those exported in 1824, and of more than two mil- 
 lions of dollars over those exported in 1823. The progressive increase in 
 this branch of industry is naturally ascribable to the new tariff. 
 
 The effects of the tariff upon the course of our foreign trade, in other re- 
 spects, have, as yet. been but very partially disclosed. More, time must 
 elapse before such a body of successive facts can be presented under it, as 
 may lay a foundation for confident conclusions. The law itself, by the 
 terms of its enactment, has not yet come into full operation in all its parts ; 
 rind the returns in possession of the Treasury are not yet complete, even 
 ibr the short period during which its principal provisions have had any ef- 
 ficacy. One thing seems apparent : that its effect, up to the present period, 
 has not been to diminish the general aggregate of the foreign trade of the 
 country. In estimating the value of the importations for the last year, it is 
 probable that even an increase will be found to have taken place in some ar- 
 ticles on which the duties were raised ; as in fabrics of cotton, and in seve- 
 ral articles composed of iron : whilst in other articles of this last material, 
 as well as in some articles composed of wool, a decrease will be observ- 
 able. But a fact challenges notice, that can scarcely have been without its 
 operation upon our importations during the commercial year just closed : It 
 is the extensive changes that were announced in March last, in the tariff oj' 
 Great Britain. The trade of that country exerts such an influence upon the 
 trade of other countries, that any important alterations in the former must 
 always be likely to affect, to a greater or less extent, the markets of Europe 
 and of the commercial world. The larger admission into England, which 
 the above changes authorized, of the commodities of other countries, hereto- 
 fore positively or virtually excluded for ages from her ports, must have af- 
 fected the prices of a portion at least of those commodities, by the prospect 
 of a new vent thus suddenly opened to them. This is known to have been 
 the case in regard to some commodities, the duties upon which were low- 
 ered by the British tariff which commodities are also amongst those import- 
 ed from Europe into the United States. It is presumable that it may have 
 been the case in regard to others less distinctly known. Hence the addi- 
 tional value of foreign merchandise imported into the United States during 
 the past year cannot, in all cases, be taken as the true measure of an addi- 
 tional quantity ; the laws of the United States requiring the value of for-
 
 320 REPORTS OF THE [1825. 
 
 eign articles to be fixed at the port of exportation, and at the time of ex- 
 portation. These changes in the British laws of trade, operating simulta- 
 neously with the new tariff at its commencement, increase the difficulty of 
 ascertaining, at this juncture, the exact effects of the latter, even for a single 
 year, upon "the course of the foreign trade of the United States. 
 
 The importations for the year being so large, and the provisions of the 
 new tariff mainly attaching to them, a corresponding amount of revenue 
 will arise from this source during the year. Accordingly, the gross amount 
 of duties accruing upon imports and tonnage, from the 1st of January to 
 the 30th of September last, is estimated at twenty-five million five hun- 
 dred thousand dollars. The gross amount that will probably accrue for 
 the whole year, is estimated at thirty-one millions. Should this amount 
 prove to be correct, it will exceed, by six millions of dollars, the amount 
 which has accrued daring any one year since the excessive importations 
 that immediately followed the war, viz: those of 1S15 and 1816. 
 
 In estimating the clear revenue that may be expected to arise from the 
 duties of the year, the amount of them to be drawn back on exportations of 
 a portion of the articles on which they have accrued, the losses that may 
 happen, and the expenses of collection, are all to be taken into consideration. 
 The duties secured by bond during one year, are chiefly payable in the year 
 that follows. A portion is payable in the same year ; but this is generally 
 counterbalanced by the portion that also becomes payable in the next year, 
 on the importations of that year. It will be more than counterbalanced if 
 the importations prove greater, and will not be met if they prove less. De- 
 benture certificates for payment of drawback being demandable at any 
 time within a year after the importation of the articles intended to be ex- 
 ported, the number and amount of them chargeable upon the accruing du- 
 ties of the year can never be accurately foreknown. 
 
 The debentures issued during the first three quarters of the present year 
 amounted to $4,489,710 29. This is more, by $1,537,710 99, than those 
 issued during the corresponding period of the preceding year. The amount 
 of those outstanding on .the 30th of September last, and chargeable upon the 
 revenue of 1826, was $1,858.315 64; which is more, by $854,313 64, than 
 was chargeable on the same day in 1824 upon the revenue of 1825. 
 
 The amount of duty bonds in suit on the 30th of September last was 
 $2,987,347 22, which is $92.791 98 more than was in suit on the same 
 day in the year preceding. 
 
 Deducing from the foregoing statements, the conclusions and probabili- 
 ties that may at present seem warrantable, the receipts for 1826 are esti- 
 mated as follows, viz : 
 
 From customs , - - $24,000,000 00 
 public lands ' - 1,000,000 00 
 bank dividends - - 385,00000 
 miscellaneous and incidental receipts - - 115,000 00 
 
 Making an aggregate of - $25,500,000 00 
 
 The expenditures of the year are estimated as follows : 
 
 Viz. 
 
 Civil, miscellaneous, and diplomatic - $2,032,454 66 
 Military service, including fortifications, 
 ordnance, Indian department, revolution- 
 ary and military pensions, arming the 
 militia, and arrearages prior to the 1st of 
 January, 1817. - 5,525,662 55
 
 1825.] SECRETARY OF THE TREASURY. 321 
 
 Naval service, includinggradual increase $3,026,612 81 
 Public debt - - - 10,000,000 00 
 
 Making together $20,584,730 02 
 
 Which will leave in the Treasury on the 31st of Decem- 
 ber, 1S26, after satisfying all the demands of that year, a 
 surplus estimated at ' - , - $4,915,269 98 
 
 If the remark be entitled to any attention, that the recent alterations in the 
 British laws of trade have affected the importations into the United States 
 during the existing year, by increasing their ad valorem amount, it ought 
 not to create surprise if the value of importations in 1826 should fall below 
 that of 1 S25 ; because, admitting that these laws served, on their first promul- 
 gation, to enhance the price of Certain enumerated commodities in the mar- 
 kets of Europe, it is not probable that this effect of them will be either ex- 
 tensive or permanent. One of their main provisions is known to consist in 
 a reduction of the duties upon a list of articles manufactured in the different 
 countries of Europe, as well 'as in Britain. But the most important articles 
 of this list were- already so thoroughly established in the manufactories of 
 Britain, as to be beyond the reach of competition from abroad. Hence the 
 privilege of introducing them there, aiid especially to any large extent, 
 (meaning for consumption in Britain, without here alluding to her ware- 
 housing system,) must prove, in the end, to be nominal rather than real. 
 Among t!ie list are seen fabrics of woollen, of cotton, of linen, of hard- 
 ware ; and the ne\v scale of duties is to have added to them, in every case, 
 the amount of any internal excise duty previously existing, or which may 
 at any time afterwards be imposed upon the same articles, when manufac- 
 tured in England. The forecast of that country, in all that relates to the in- 
 terests of her manufactures, justifies the belief that she will not fail to con- 
 ciliate the continued protection of them, with whatever other abrogations 
 she may engraft upon her commercial code, either in relation to the other 
 nations of the world, or to her own dependencies in whatever part of it. 
 
 It has been seen how largely the exportation of our own manufactures, 
 during the past year, has exceeded the exportations of the two years preced- 
 ing, It may be added, that in no previous year since the foundation of the 
 Government has the exportation of American manufactures reached an 
 amount at all approaching to that of 1825. This is known from official 
 documents as far back as 1803, and no doubt can be entertained of its being 
 true for the remainder of the period. This fact, in conjunction with the 
 increasing consumption of these manufactures at home, and not less of their 
 improving quality, gives gratifying assurance of the progress of this most 
 important branch of the national industry. It may be considered as marking 
 the commencement of an epoch in tha national resources, since an intimate 
 connexion is believed to exist between the full encouragement and success 
 of domestic manufactures, and the wealth, the power, and the happiness of 
 the country. The United States would, it is thought, overlook what is due 
 to the essential interests of their agriculture, which can never reach the full 
 point of prosperity but under the constant and various demand of the home 
 market ; of their foreign commerce, which can never expand to its full limit 
 of activity, or reap its full measure of riches, but with the aids of an active 
 home trade, and of an export trade enhanced in its value by being diversified 
 in its objects; of the exuberance of their soil, yielding the best materials for 
 so many of the fabrics which conduce to the wants, the comforts, and the 
 refinements of the social state ; of the industry, the enterprise, the frugality, 
 VOL. ii. 21
 
 322 REPORTS OF THE [1825, 
 
 of their people ; of the unrivalled equality of their laws, which, interdicting 
 exclusive rights and monopolies, invites the most energetic exertions of every 
 individual in the field of competition ; and, finally, of the advantages flowing 
 from the absence of pecuniary exactions by the hand of Government upon 
 the internal products and labor of the country if they do not vigorously 
 uphold the manufactures of the country, now for the first time appearing to 
 be upon the eve of striking root. It is a commencement that deserves every 
 seasonable improvement. The territorial size and fertility of a country 
 depend upon nature or upon accident. Both the one and the other may 
 exist upon the largest scale ; but in vain, if a provident Government do not 
 second these gifts ; whilst nations destitute of them, and struggling against 
 positive obstacles of nature, are seen to arrive, through the wisdom of their 
 policy, at the heights of prosperity and renown. To give perfection to the 
 industry of a country rich in the gifts of nature, and blessed in the benefi- 
 cence of its Government ; to draw out its obvious resources, and seek constant- 
 ly for new ones, ever ready to unfold themselves to diligent inquiry urged on 
 by adequate motives ; to augment the number and variety of occupations for its 
 inhabitants ; to hold out to every degree of labor, and to every modification 
 of skill, its appropriate object and inducement: these rank amongst the high- 
 est ends of legislation. To organize the whole labor of a country ; to entice 
 into the widest ranges its mechanical and intellectual capabilities, instead of 
 suffering them to slumber ; to call forth, wherever hidden, latent ingenuity, 
 giving to effort activity, and to emulation ardor ; to create employment for 
 the greatest amount of numbers, by adapting it to the diversified faculties, pro- 
 pensities, and situations of men, so that every particle of ability, every shade 
 of genius, may corne into requisition, is, in other words, to lift up the con- 
 dition of a country, to increase its fiscal energy, to multiply the means and 
 sources of its opulence, to imbue it with the elements of general as well as 
 lasting strength and prosperity. It is in the destiny of nations, that the 
 highest points of advancement are not to be arrived at, but through the com- 
 plicated yet harmonious action of these elements. That extensive and flour- 
 ishing manufactures, with the train of useful arts allied to them, tend to 
 propel nations in this onward course, is a maxim believed to be enforced by 
 the best lights of experience, and to be of peculiar application to the United 
 States, under the present circumstances of their interior and external condi- 
 tion. By a flourishing state of manufactures, we shall see rising up a new class 
 of capitalists, rivalling in the extent and usefulness of their operations, and in 
 the amount of their gains, the wealthiest of our merchants; spreading, too, 
 by the education and habits for which their pursuits when largely conducted 
 make a call, useful knowledge and science, wherever these pursuits concentre. 
 By a flourishing state of manufactures, we shall see the gains of the merchant 
 augmented, even in his trade of imports ; since, for every foreign fabric ex- 
 cluded from consumption by the ultimate use of the rival fabric at home, 
 other fabrics will find their way to us; consumption having no limits but the 
 ability to buy, and this ability invariably increasing as home manufactures 
 assume variety and attain perfection. It is then that they create and diffuse 
 wealth, by what is the only true foundation of it in a nation the universal, 
 subdivided, and successful industry of the people. It is then that they make 
 a call for an abundant circulating medium, by quickening the operations of 
 purchase and sale. It is then that they attract the precious metals to a coun- 
 try, and, beyond any other power of retention, keep them there. By nu- 
 merous manufactures, we shall see agriculture, the first pillar in the State, 
 stand firm ; for when they shall have raised up new capitalists, who so sure 
 to maintain profitable dealing with them as the owner of the soil ? For the
 
 1S23.J SECRETARY OF THE TREASURY. 323 
 
 treasures that cover its surface, and that lie beneath it, he is then sure to 
 find a market, both regular and growing, whatever the political or mercan- 
 tile vicissitudes at a distance ; and as sure to buy at cheap rates the fabrics 
 that he wants cheapness being the necessary consequence of full competi- 
 tion among a powerful class of artisans at home. By numerous manufac- 
 tures, in fine, we shall see reared up in the State that additional pillar, which, 
 standing in the middle, is indispensable to the stability of the other two; for 
 the State must be in a false position, lying perpetually at the mercy of ex- 
 trinsic events, when reposing only upon foreign commerce and agriculture. 
 The great intermediate interest, strengthening and upholding both the 
 others, is manufactures. When to the complete establishment of these the in- 
 ternal improvement of the country shall have been superadded, the farmer 
 of the United States cannot but perceive that the measure of his prosperity is 
 made potentially full. Discouraging distances between himself and his cus- 
 tomers exist no longer. Through the wisdom of art, the obstacles of nature 
 disappear. He sees combined with the advantages of a country of almost 
 boundless extent and capacity of production, the facilities of quick inter- 
 course, which compensate to small countries the want of these advantages. 
 He sees time anticipated in the effective augmentation of our numbers; for, 
 as with machinery in manufactures, so with canals and good highways ; 
 they change the relative weakness of a thin and scattered, into the activity 
 and power of a condensed population ; thereby exemplifying the highest wis- 
 dom of legislation the noblest works of government guided by the intelli- 
 gence and stimulated by the energy of freedom. 
 
 In giving these opinions in favor of domestic manufactures, it is known 
 that other opinions exist on this subject, claiming the support of distinguish- 
 ed names, both at home and abroad. For these opinions, as they have from 
 time to time been witnessed in the discussions of the legislative hall at 
 home, the utmost deference is felt. Nevertheless, it is deemed proper to 
 communicate with candor those contained in this report, deliberately weigh- 
 ed as they have been, and uttered, as they also are, under the obligations of 
 official duty. In the submission of plans for the improvement of the public 
 revenue, none occur more likely to prove salutary than those that look to 
 the fostering of manufactures; under the truth, that in the multiplied pro- 
 ductions of nature and art. in a country, the result of industry and skill every- 
 where diffused, lie the best and only foundations of finance. When the 
 people of a country are universally and profitably employed, the aggregate 
 of individual becomes the surest measure of national prosperity; and reve- 
 nue for the public occasions will always be at hand, under whatever forms 
 the Government may deem it most expedient and least burdensome to call 
 it forth. The facts of the world are on the side of these opinions; it being 
 incontestable that nations which have reached the most imposing heights 
 of physical and intellectual power, are those in which manufactures have 
 been the most numerous, and arrived at the greatest perfection. It is more 
 applicable to add, that this perfection, amongst the nations where it has been 
 most conspicuous, has been achieved through the most comprehensive and 
 rigorous protection afforded to this kind of industry a protection perse- 
 vered in throughout ages, and never given up whilst its objects remained 
 unaccomplished. The speculative economists of Europe are in opposition 
 to the experience that surrounds them, and not less frequently to each other 
 and to themselves, when they would hold up to any one nation the asserted 
 benefit of an opposite system. "France," says one of her most celebrated 
 writers of this class, (but who knows how to reconcile the enlightened ideas 
 of free trade with those first duties that every nation owes to itself, ) "is
 
 324 ivEPOSTS OP THE [1825- 
 
 probably indebted for the beauty of her silk and woollen manufactures to 
 the wise encouragement of that administration which advanced to the manu- 
 facturers two thousand francs for every loom at work." The same writer, 
 (Say,) whilst describing the condition of some of the provinces of that 
 country, and which, as he says ; wanted nothing but towns to bring them 
 into high cultivation, adds, that "hopeless, indeed, would be their situation, 
 were France to adopt the system which recommends the purchase of manu- 
 factures from foreign countries, with the raw produce of domestic agricul- 
 ture," France still adheres, in the midst of her riches and power, to the 
 practice on which these sentiments are founded. Nor is the example of 
 Britain, up to this very moment, less absolute or less instructive. The 
 prohibitions, the bounties, the high duties, -the penalties, (by force of which, 
 throughout a long tract of time, the manufactures of that country have 
 gained so much excellence,) never in anywise abated, until, by the recent 
 avowals of her statesmen, high in intelligence as authority, British fabrics 
 were not ; lerely certain^to continue the supply immense as it is known to 
 be ot' the home demand, but to find their way, in a proportion far greater 
 than those from any other country, into all the markets of the world. The 
 United States, with a combination of natural and political advantages, -as 
 transcendent in number as degree, have before them these and other exam- 
 ples; the lights oi' co-existent nations ; the amplest demonstrations of expe- 
 rience for building up their manufactures; and, by that vigilant legislative 
 assistance, without which they have 'never been known in any country to 
 establish themselves in large or durable pre-eminence. Nor has this policy 
 been found to interfere with an abundant foreign commerce in the wealthiest 
 and most industrious nations. It lias, on the contrary, carried its bounds 
 still further; since every nation, by its habits and position, will always com- 
 mand superior facilities for excelling irr certain branches, of labor and art, 
 which it therefore chiefly cherishes, leaving to other nations the opportuni- 
 ty of excelling in other branches, -or of running the career of beneficial 
 rivalry in the. same; by which system the artificial productions of the world 
 are augmented and improved, and the fields of traffic, through the increas- 
 ing desires -and varying tastes of mankind, as opulence and civilization 
 make new advances, more and more extended and enriched. If the nations 
 of Europe, whose industry and interchanges move in circles geographically 
 proximate to each other, have not yet adopted this policy, or have fallen back 
 in their - prosperity by the fact of its absence; if those nations that have 
 adopted it are still seen to keep to it, or have only swerved from it after its 
 ends have been attained;' by stronger reasons should the United States act 
 upon it. Their remoteness from all the chief sources of supply of manu- 
 factured articles, forms the additional motive; not to invoke that which 
 might be drawn from the burdens, and even 'exclusions, still in full existence 
 in other countries, against some of their primary productions. That a popu- 
 lous and independent nation, a nation civilized since the moment of its ex- 
 istence, and whose institutions, by their essential principle, tend to accele- 
 rate it in the career of intellectual and social, as already they have conferred 
 upon it political eminence, should have continued as long as the United 
 States have done, to derive from a distance," to be computed only by the 
 space of oceans, so many of the fabrics which conduce to the necessary or 
 tasteful accommodations of life, if not without precedent, has, perhaps, not 
 before existed in the case of any other nation upon the same extensive scale. 
 Without adverting to the contingencies which may diminish or cut off this 
 supply from remote hemispheres, the very deterioration |to which time, and 
 more frequently casualty, expose no inconsiderable portion of these fabrics
 
 1825.] SECRETARY OF THE TREASURY. 325 
 
 before the natural and intended uses of them can be exhausted, and where 
 the skill that made is too often alone competent to renovate or repair, be- 
 comes, by so much, a dead loss to the capital of the importer or consumer, 
 and consequently to that of the nation. The amount of it would go far, it is 
 believed, towards forming a fund for encouraging the equally pertect fabrica- 
 tion at home of most of ihe articles of foreign origin consigned, by the cause 
 alluded to, to premature inutility or destruction. Besides the advantages of 
 manufactures for home use, the present moment is deemed to be peculiarly 
 auspicious, (not to say urgent,) for fostering them, from the situation and cir- 
 cumstances of the rest of the world. An era has arrived, upon which after 
 ages are to look back as to a point in the commercial destinies of mankind. 
 The colonial system is fast falling to pieces. Over immense regions it is to- 
 tally gone ; involving the certainty of changes, both in the channels and the 
 objects of trade, as vast as they will be various. The family of nations has 
 been extended ; new continents, new oceans, are opened to independent in- 
 tercourse, to a just and equal participation in the benefits of which the United 
 States cannot but be alive. These benefits they can scarcely derive to the 
 full and proper extent, but by giving themselves to the large fabrication of 
 those works of art for which their climate, their productions, and the skill 
 and capital of which -their citizens are already in possession, especially quali- 
 fy them. The course of their export trade for the last two years, as stated 
 in this report, is an encouraging omen of their ability and aptitude to enier 
 this new and great field of competition. Not to follow up such beginnings 
 by timely and judicious measures, might be to let opportunities pass, not al- 
 ways to be recalled. Whilst nations, shut out by their limited territory 
 from agricultural products as the basis of foreign trade, have yet pushed the 
 latter to its farthest limits ; by' manufactures alone as that basis, it is the favor- 
 ed lot of the United States to superadd to the extent and riches of their soil 
 a state of social advancement, and an amount of town population, already 
 equal to the most extensive and varied operations of manufacturing industry. 
 Not to found establishments by which this species of profitable industry 
 may take life, and spread over the land, would, it is believed, be to forget 
 alike what is due to the best interests of agriculture on the one hand, and to 
 the further enlargement of our commercial power upon the other. 
 
 In expressing the convictions embraced in the foregoing remarks, it is not 
 intended to close them by recommending any general revision of the tariff, as 
 fixed by the act of Congress of the 22d oi" May, 1824. But it is deemed proper, 
 under cover of them, respectfully to submit the expediency of effectively in- 
 creasing the existing duties upon all manufactures of cotton of a fine quality. 
 The facilities and inducements to the fabrication of cottons of every de- 
 scription in the United States are so great, that the most beneficial conse- 
 quences may be anticipated from the full establishment of this manufacture 
 in all its finer branches, in like manner as, by the protection already afforded 
 to cotton fabrics in the coarser branches, we have seen these latter establish- 
 ed with advantages so manifold and decided. And should we establish, 
 completely, the former also, such is the quantity in which we produce the 
 raw material of this prominent manufacture of modern times, and (what is 
 still more important,) such its quality, that there is no cause for apprehending 
 that our immense exportations of it abroad will stop. On the contrary, it 
 may be expected that they will go on progressively increasing. 
 
 Concurrently with this recommendation for an augmentation of duties 
 on all cotton manufactures of fine quality, it is deemed advisable to submit
 
 326 REPORTS OF THE [1825. 
 
 also the expediency of lowering, to a small extent, the duties at present 
 existing upon teas, upon coffee, and upon cocoa. 
 
 These articles, especially the two former, are of such large consumption 
 in the United States, as to take rank among the necessaries of life. They 
 go to make up a part of the daily beverage of the poor as well as the rich, 
 and should therefore not be pressed upon too heavily by the hand of taxa- 
 tion in any form ; the less, as they trench upon no rival production ai home. 
 
 Their more enlarged consumption would tend to increase, in corresponding 
 proportions, the demand for sugar ; thereby fostering a valuable production 
 of some of our own States. The more widely, also, the habit of their use can 
 be extended, the greater, it is believed, would be the prospect of seeinglessened 
 the consumption of ardent spirits, so baneful in their effects upon the industry, 
 the health, and the morals of the community. Under the^ie views alone, re- 
 garding their connexion with the public prosperity and individual happiness, 
 any temporary or partial loss to the revenue that might result from an adop- 
 tion of this last recommendation, ought to be considered as compensated. It 
 is not. however, certain, that such loss would result from the increased de- 
 mand that might be expected to grow up for these articles by a reduction of 
 r.he present impositions upon them. As regards teas, it may be added as an 
 additional motive to the recommendation, that, under the present duties, 
 there is reason to apprehend some falling off, ultimately, in our China trade, 
 from the late laws and regulations of Britain bearing upon this important 
 article of merchandise. 
 
 The interests of a valuable portion of our foreign trade, therefore, and of our 
 shipping, appear to beat stake, in fixing the duties upon teas of all kinds at 
 rates somewhat lower than as at present established. 
 All which is respectfully submitted. 
 
 RICHARD RUSH. 
 TREASURY DEPARTMENT, 
 
 December 22, 1825.
 
 
 1825.] 
 
 SECRETARY OP THE TREASURY. 
 
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 REPORTS OF THE 
 
 [1825. 
 
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 1825.] 
 
 SECRETARY OF THE TREASURY. 
 
 329 
 
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 330 
 
 REPORTS OF THE 
 E. 
 
 [1825. 
 
 STATEMENT of the moneys received into the Treasury from all other 
 
 sources than customs and public lands, during' the year 1824. 
 
 From dividends on stock in the Bank of the United States $350.000 00 
 
 arrears of old direct tax of 1798 - $5,203 50 
 
 new direct tax - 998 46 
 
 new internal revenue - 34,663 37 
 
 fees on letters patent 6,270 00 
 
 cents coined at the mint 15,475 00 
 passage money of an American seaman 
 
 returned - 10 00 
 surplus emoluments of officers of the 
 
 customs - - 31,490 56 
 interest on balances due by the Bank 
 
 of Elkton to the United States 2,085 33 
 Received under the act to abolish the United 
 
 States trading establishment 22,519 20 
 Moneys previously advanced on account of 
 
 prisoners of war 3,708 62 
 Moneys previously advanced on account of 
 
 military pensions 563 00 
 
 Balances of advances made to the War Department, repaid 
 under the 3d section of the act of 1st May. 1820 
 
 Loan of five millions of dollars at four and a half per cent., 
 to provide for the awards under the Spanish treaty 
 
 122,987 04 
 
 5,000.000 00 
 $5,518,468 93 
 
 TREASURY DEPARTMENT, 
 
 Register's Office^ December 8, 1825. 
 
 JOSEPH NOURSE, Register.
 
 1825.] 
 
 SECRETARY OF THE TREASURY. 
 F. 
 
 33l 
 
 $1,336,266 24 
 
 STA TEMENT of the expenditures of the United States for the year 
 
 1824. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ : 
 
 Legislature - $603,738 39 
 
 Executive department ? 473,370 46 
 
 Officers of the mint 9,310 00 
 
 Surveying department - 12,272 30 
 
 Commissioner of the Public Buildings 1,500 00 
 Governments in the Territories of the United 
 
 States ... - 26,632 79 
 
 Judiciary - - 209,442 30 
 
 Annuities and grants 1,953 02 
 Mint establishment '- 29,469 76 
 Unclaimed merchandise - 769 99 
 Light-house establishment - ~ 153,419 96 
 Surveys of public lands - 108,891 00 
 Registers and receivers of land offices 1,20600 
 Boundary lines between Missouri and Ar- 
 kansas - - 1,000 00 
 Land claims in Florida Territery - - 13,564 92 
 Land claims in St. Helena land district 1,937 50 
 Repairing the road from Cumberland to Ohio 17.000 00 
 Roads within the Indian territory, from Nash- 
 ville to New Orleans 7,920 00 
 Roads within the State of Indiana - - 11,46273 
 Roads, canals, &c. within the State of Alabama 32,969 01 
 Roads and canals within the State of Missouri 3,282 79 
 Payment to Ohio of the nett proceeds of land 
 sold under the 3d section of the act of 28th 
 of February, 1823 - 10,206 41 
 Marine hospital establishment T 34,986 77 
 Public buildings in Washington - 110,370 53 
 Accommodation of the President's household 839 24 
 Payment of balances due to officers of old in- 
 ternal revenue and direct tax - 657 47 
 Payment of balances to collectors of new in- 
 ternal revenue -1 ; 317 50 
 Payment of certain certificates 425 73 
 Miscellaneous expenses - - 136,294 41 
 
 Diplomatic department - 108,898 47 
 Missions to the independent nations on k the 
 
 American continent - 28,669 72 
 
 Contingent expenses of foreign intercourse - 20,145 73 
 
 Relief and protection of American seamen - 38,056 96 
 
 Treaty with Spain - . - 15,946 17 
 
 Treaty of Ghent, (6th and 7th articles) - 14,136 44 
 
 Treaty of Ghent, (1st article) .h&?- 12.32778 
 
 678,942 74
 
 332 
 
 REPORTS OF THE 
 
 Treaties with Mediterranean powers - $10,550 00 
 
 Claims on Spain - 4,891,368 56 
 
 MILITARY DEPARTMENT, VIZ : 
 
 85,140.099 83 
 
 $7,155,308 81 
 
 Pay of the army - - $1,093,868 08 
 
 Subsistence - 265,500 81 
 
 Forage - 34,177 18 
 
 Purchasing department - - 148,738 07 
 
 Medical and hospital department - -. 23,674 19 
 
 Contingent expenses - 13,695 56 
 
 Ordnance _- 50,514 09 
 
 Quarter master's department - 293,154 72 
 
 Repairs and contingencies of fortifications - 16,282 47 
 
 Fort Monroe - - 95,629 86 
 
 Fort Calhoun - 89,702 09 
 
 Fort Washington - 9,275 14 
 
 Fort Delaware - 11,500 00 
 
 Fort at Mobile Point ' - - 84,630 99 
 
 Fort at the Rigolets - 160,000 00 
 
 Fort Jackson - 69,059 17 
 
 Fort at Erenton's Point - - 39,500 00 
 
 Fort at New Utrecht Point - - 15,510 00 
 
 Repairs of Plymouth beach - 20,00000 
 
 Harbor of Presque Isle 3,000 00 
 
 Improving Ohio and Mississippi rivers, &c. 3,003 S4 
 
 Surveys, &c. of roads and canals - - 19,34460 
 
 Relief of officers, &c., of Seminole campaign 11,835 82 
 
 Military Academy, West Point - 15,438 39 
 
 Medals for officers - 2,215 00 
 
 Arrearages - - 17,331 62 
 
 Balances due to certain States 5,510 27 
 
 Bounties and premiums - - 26,286 10 
 
 Gratuities - - 12,400 04 
 
 Expenses of recruiting 8,279 65 
 
 Armories - - 386,357 38 
 
 Arsenals - 2,538 92 
 
 Arming and equipping the militia - - 171,155 43 
 
 National armory, western waters - 3,11700 
 
 Purchase of Gridley's farm - - - 10,00000 
 
 Purchase of woollens for 1825 - 20,000 00 
 
 Ransom of American captives 767 75 
 
 Maps, plans, &c., War Office 547 56 
 
 Road from Plattsburg to Sackett's Harbor - 1,350 00 
 
 Road from Ohio to Detroit - 1,337 55 
 
 Road from Pensacola to St. Augustine - 15,000 00 
 
 Relief of sundry individuals ;*r" - 134,74581 
 
 Invalid and half-pay pensions - 231,726 18 
 
 Revolutionary pensions - 1,267,600 41 
 Purchase and reservation of Indian lands in 
 
 Georgia - ... 26,025 70
 
 1 825,] 
 
 SECRETARY OF THE TREASURY. 
 
 333 
 
 Purchase of Quapaw lands 
 
 Treaty with the Choctaws 
 
 Treaty with the Creeks 
 
 Treaty with the Florida Indians - 
 
 Military escort, Florida Indians 
 
 Civilization of Indians 
 
 Pay of Indian agents 
 
 Pay of sub-agents - 
 
 Presents - - - 
 
 Contingencies, Indian department - 
 
 Indian annuities - 
 
 Treaties with Indians beyond the Mississippi 
 
 From which deduct the following repayments: 
 Fortifications - $4,66730 
 
 Fort opposite Fort St. Philip - ] 68 00 
 Cannon, shot, shells, &c. - 200 00 
 
 Treaties with Indians, act 20th 
 April, 1813 - - - 599 67 
 
 $7,000 00 
 
 938 37 
 
 23,000 00 
 
 23,657 50 
 
 9,500 00 
 
 13,541 81 
 
 22,874 24 
 
 10,548 32 
 
 14,412 45 
 
 58,743 88 
 
 177,250 31 
 
 3,094 99 
 
 5.275,889 31 
 
 5,634 97 
 
 NAVAL DEPARTMENT, VIZ : 
 
 Pay of the navy afloat 898,415 50 
 
 Pay of the navy shore stations - 223.869 24 
 
 Provisions - 312,404 56 
 
 Medicines 31,698 47 
 
 Repairs of vessels - 404,151 00 
 
 Ordnance and ordnance stores 30,156 44 
 
 Navy yards, &c. - 136,365 01 
 
 Contingent expenses prior to 1824 - - 102,028 39 
 
 Contingent expenses for 1824 149,889 97 
 
 Contingent expenses not enumerated 680 94 
 
 Gradual increase -- '/-,; 286,977 45 
 
 Inclined plane docks, &c. - 11,375 81 
 
 Ship-houses 15,114 63 
 
 Suppression of piracy ' 16,401 60 
 
 Prohibition of the slave-trade 14,032 58 
 
 Survey of the coast of Florida ' - 1.412 82 
 
 Survey of Charleston harbor 2,962 37 
 Rewarding officers and crews of two gigs, 
 
 under the command of Lieut. Gregory - 3,000 00 
 
 Captors of Algerine vessels 56 59 
 
 Relief of sundry individuals - 22,30507 
 
 Pay and subsistence of the marine corps - 199,061 30 
 
 Clothing for the marine corps 31.334 83 
 
 Military stores for the marine corps 3,551 25 
 
 Fuel for the marine corps - 4,659 80 
 
 Contingent expenses of the marine corps - 9,000 00 
 
 Medicines for the marine corps - 2,369 71 
 
 Barracks for the marine corps 9,631 81 
 
 2,922,907 14 
 
 85,270,254 34
 
 334 REPORTS OF THE [1S25. 
 
 From which deduct the following repayments : 
 Building barges - $409 58 
 
 Superintendent, artificers, &c. 11.529 22 
 Laborers, and fuel for engines 6,320 15 
 Rewarding officers and crew 
 of frigate Constitution 66 63 
 
 $18,325 58. 
 
 $2.904,581 56 
 
 PUBLIC DEBT, VIZ: 
 
 Interest, &c. domestic debt - 5,301,104 19 
 
 Kedemption of 7 per cent. 
 
 stock of 1815 : for principal 8,598,309 35 
 Premium - 49,302 19 
 
 8,647,611 54 
 
 Kedemption of exchanged 6 per cent, stock 
 
 of 1812 - 2,612 ; 435 69 
 
 Reimbursement of Mississippi stock N 7,242 34 
 
 : 16.568.393 76 
 
 31,898,538 47 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE. Register.
 
 SECRETARY OF THE TREASURY. 
 
 335 
 
 
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 REPORTS OF THE 
 
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 1825.1 
 
 SECRETARY OF THE TREASURY. 
 
 337 
 
 H. 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, from the 1st January to the 30^ 
 September, 1825. 
 
 From dividends on stock in the Bank of the United States $367 ; 500 00 
 
 balances of advances made in War Department, re- 
 paid under the 3d section of the act of the 1st May, 
 1820 
 
 arrears of new internal revenue - $22,534 84 
 new direct tax 2,009 98 
 
 fees on letters patent - 6,690 00 
 
 cents coined at the mint - 12,726 25 
 
 postage of letters 469 56 
 
 consular receipts under the 2d section 
 
 of the act of the 14th of April, 1792 2,292 10 
 
 surplus emoluments of officers of the 
 
 customs , - - 25,496 52 
 
 money received under the act to abolish 
 the United States trading establish- 
 ments with the Indians - 9,698 57 
 
 fines, penalties, and forfeitures 3,298 06 
 
 sales of public lots in the city of Wash- 
 ington 1,572 38 
 
 nett proceeds of vessels condemned un- 
 der the acts prohibiting the slave 
 trade - 4,473 57 
 
 trespass on Indian lands - 48 00 
 
 nett proceeds of vessels, <fcc. captured of 
 
 the pirates - 325 13 
 
 moneys previously advanced on ac- 
 count of the second census 71 48 
 
 moneys previously advanced on ac- 
 count of ascertaining land titles in 
 Louisiana - 500 00 
 
 moneys previously advanced on ac- 
 count of annuity to Christian Indians 
 on the river Thames 1,474 98 
 
 interest on balances due from the 
 banks of Wilmington and Brandy- 
 wine to the United States - 4,937 42 
 
 rent of the naval hospital farm, Chelsea 267 45 
 
 loan of five millions, at 4i per cent., 
 
 per act of 26th May, 1824 - 
 i j 
 
 tflO&Hu Wo lo ? 
 
 98,886 29 
 5,000,000 00 
 
 $5,508,144 89 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE, Register. 
 VOL. ii. 22 
 01 &GS*f
 
 338 
 
 REPORTS OF THE 
 
 STATEMENT of the expenditures of the United Slates, from the 1st 
 of January to the 30/A September, 1825. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC. 
 
 Legislature 
 
 Executive departments 
 
 Officers of the mint 
 
 Commissioner of the Public Buildings 
 
 Surveying department 
 
 Governments in the Territories of the United 
 States 
 
 Judiciary- 
 Annuities and grants 
 
 Mint establishment - 
 
 Unclaimed merchandise 
 
 Light-house establishment 
 
 Surveys of public lands 
 
 Grant to General Lafayette - 
 
 Registers and receivers of land offices 
 
 Western boundary line of Arkansas Territory 
 
 Boundary line between Missouri and Arkansas 
 
 Preservation of the public archives in Florida 
 
 Land claims in Florida Territory 
 
 Land claims in St. Helena land district 
 
 Roads within the State of Indiana 
 
 Roads within the State of Ohio 
 
 Roads, canals, &c., within the State of Alabama 
 
 Roads and canals within the State of Missouri 
 
 Roads and canals within the State of Mississippi 
 
 Encouragement of learning within the State of 
 Illinois 
 
 Repayment for lands erroneously sold by the 
 United States 
 
 Purchase of lands reserved to certain Creek In- 
 dians . - 
 
 Marine hospital establishment 
 
 Public buildings, Washington 
 
 Accommodation of the President's household - 
 
 Bringing the votes of President and Vice Presi- 
 dent of the United States - 
 
 Payment of claims for property lost. &c. 
 
 Stock in the Chesapeake and Delaware Canal 
 Company - 
 
 Payment of balances to officers of old internal 
 revenue and direct tax 
 
 Payment of balances to collectors of new inter- 
 nal revenue ... 
 
 Payment of certain certificates 
 
 Miscellaneous expenses - ' '-; 
 
 Consular receipts, under the act of 14th April, 
 1792 .... 
 
 $316.367 
 369,767 
 7,200 
 1,125 
 17,551 
 
 27,596 
 153,942 
 
 08 
 44 
 00 
 
 00 
 82 
 
 71 
 55 
 
 1,300 
 
 14,651 
 
 342 
 
 115,868 
 
 125.456 
 
 200,000 
 
 1,125 
 
 2,000 
 
 1,500 
 
 375 
 
 6,682 
 
 3,250 
 
 10,798 
 
 9,197 
 
 10,753 
 
 1.256 
 
 15,780 
 
 5,702 
 1,635 
 
 00 
 64 
 30 
 88 
 33 
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 00 
 00 
 00 
 00 
 69 
 00 
 09 
 27 
 66 
 44 
 26 
 
 06 
 93 
 
 6,169 
 125 
 
 192,500 
 2,184 
 
 1,723 
 
 83 
 71,670 
 
 00 
 64 
 
 45 
 01 
 
 84 
 
 2,292 10
 
 1825.J 
 
 SECRETARY -OF THE TREASURY. 
 
 339 
 
 Diplomatic department 
 
 - $127,017 29 
 
 Contingent expenses of foreign intercourse - 25,224 95 
 
 Relief and protection of American seamen - 22,567 20 
 
 Treaty of Ghent (6th and 7th articles) - 12,583 13 
 
 Treaty of Ghent (1st article) 8.000 00 
 
 Treaty with Spain 1,12500 
 
 Claims on Spain. - -<> 66,335 02 
 Payments of claims under the 9th article of 
 
 treaty with Spain ' ; -;V 16,270 87 
 
 Treaty with Mediterranean powers 3,508 67 
 
 Prize causes >-,".;') - - -..,/*' 2,00000 
 
 MILITARY ETABLJSHMENTj VIZ 
 
 Pay of the army 
 
 Subsistence 
 
 Forage 
 
 Clothing 
 
 Purchase of woollens, for 1826 
 
 Medical and hospital department - ,y ; 
 
 Contingencies 
 
 Ordnance 
 
 Quartermaster's department 
 
 Repairs and contingencies of fortifications - 
 
 Fort Monroe 
 
 Fort Calhoun V- 
 
 Fort Washington - 
 
 Fort Delaware ; ; >- * 
 
 Fort at Mobile Point 
 
 Fort at the Rigolets - 
 
 Fort Jackson 
 
 Fort at Brenton's Point 
 
 Fort at New Utrecht Point - 
 
 Fort at Beaufort - ... 
 
 Fort at Cape Fear - 
 
 Armament of new fortifications 
 
 Plymouth beach, repairs of 
 
 Harbor of Presque Isle 
 
 Improving Ohio and Mississippi rivers 
 
 Surveys, &c., of roads and canals - 
 
 Relief of officers, &c., of Seminole campaign 
 
 Military Academy, West Point 
 
 Arrearages 
 
 Bounties and premiums 
 
 Expenses of recruiting 
 
 Armories - 
 
 Arsenals 
 
 Preservation of islands in Boston harbor 
 
 Arming and equipping the militia - 
 
 Na ional armory, western waters - 
 
 Ransom of American captives 
 
 Arsenal lot on the Schuylkill 
 
 710,379 16 
 
 271.326 69 
 
 28,289 31 
 
 184.737 06 
 
 20,000 00 
 
 20,041 87 
 
 16,714 18 
 
 41,065 27 
 
 233,157 25 
 
 4,155 31 
 
 86,025 58 
 
 57,400 00 
 
 207 35 
 
 36,506 14 
 
 107,008 67 
 
 80,000 00 
 
 80,940 83 
 
 44,134 60 
 
 40,366 76 
 
 400 00 
 
 5,000 00 
 
 100 00 
 
 5,712 00 
 
 10,371 37 
 
 3.722 59 
 
 38.780 21 
 
 2.601 61 
 
 9,066 40 
 
 32,304 47 
 
 13,450 63 
 
 5.275 22 
 
 17,430 72 
 
 lU.iMf 29 
 133^24 91 
 
 2,479 SS 
 
 610 00 
 
 8,000 00 
 
 2,098,525 16
 
 340 
 
 REPORTS OF THE 
 
 Interest due to the State of Virginia - $178,480 1 1 
 
 Payment of claims for property lost, &c. - 40 00 
 
 Cannon, shot, shells, &c. 62 20 
 
 Continuation of the Cumberland road 13,850 00 
 
 Road from Ohio to Detroit 5,255 00 
 
 Road from Cape Sable to Suwanney 2,072 15 
 
 Road from Detroit to Chicago 3,000 CO 
 
 Road from Memphis to Little Rock 1 ,880 00 
 
 Road from St. Augustine to Pensacola 809 50 
 
 Road from Colerain to Tampa 6,000 00 
 
 Road from Missouri to New Mexico - 15,000 00 
 
 Relief of sundry individuals - 140,144 63 
 
 Revolutionary pensions - - 1,307.251 12 
 
 Compensation to citizens of Georgia - 23,000 00 
 
 Claims against the Osages - - 2,748 00 
 
 Choctaw claims - - 16,972 50 
 
 Treaty with Choctaws 3,748 72 
 
 Expenses of Choctaw treaty 9,723 44 
 
 Treaty with the Sioux, Chippewas. &c. - 6,400 00 
 
 Treaty with the Florida Indians - - 36,425 57 
 
 Military escort to Florida Indians - 500 00 
 Treaties with Indians beyond the Mississippi 3.216 21 
 
 Treaty with the Creeks - - 225^853 12 
 
 Civilization of Indians - 11,215 91 
 
 Pay of Indian agents - 26.254 12 
 
 Pay of sub-agents - - 12,104 15 
 
 Presents to Indians - 16,963 18 
 
 Contingencies, Indian department - - 82.006 85 
 
 Annuities to Indians ' ' - - - 201.278 98 
 
 From which deduct the following repay- 
 ments : 
 
 Fortifications - - $14,500 00 
 
 Invalid and half-pay pensions 70,351 70 
 Gratuities 205 37 
 
 Purchase of Qjiapaw lands - 226 09 
 Fort opposite Fort St. Philip - 487 64 
 
 4,976,081 39 
 
 NAVAL ESTABLISHMENT. 
 
 Pay of the navy afloat 
 
 Pay of the shore stations 
 
 Provisions - 
 
 Medicines - 
 
 Repairs of vessels .--;< 
 
 Navy yards, docks, and wharves 
 
 Navy yard, Portsmouth V, <- 
 
 Navy yard, New York 
 
 Navy yard, Philadelphia - 
 
 Navy yard, Washington 
 
 Navy yard, Norfolk > ,- 
 
 85,770 80 
 
 511,913 27 
 
 219,801 93 
 
 274,487 98 
 
 36,583 73 
 
 249,720 71 
 
 21,064 58 
 
 1,145 08 
 
 25,314 03 
 
 7,509 04 
 
 8.809 29 
 
 12,398 44 
 
 $4,890.310 59 
 
 \ -t\ -. '.
 
 IS25.] 
 
 SECRETARY OF THE TREASURY. 
 
 341 
 
 Navy yard, Charleston 
 Contingent expenses prior to 1824 
 Contingent expenses for 1824 
 Contingent expenses not enumerated, 
 Contingent expenses for 1825 
 Contingent expenses not enumerated, 
 Gradual increase of the navy 
 Inclined plane docks, &c. 
 Ship-houses 
 Suppression of piracy 
 Prohibition of the slave trade 
 Survey of the coast of Florida 
 Survey of Charleston and St. Mary's 
 Captors of Algerine vessels 
 Relief of sundry individuals 
 Building ten sloops of war 
 Pay and subsistence of marine corps 
 Clothing for marine corps - 
 Medicines for marine corps 
 Military stores for marine corps 
 Fuel for marine corps 
 Contingent expenses of marine corps 
 Arrearages of contingent expenses 
 
 1824 
 1825 
 
 ii; 
 
 From which deduct the following repay- 
 ments : 
 
 Ordnance and ordnance stores $7,524 26 
 Repairs of sloops of war ;-, -j^ 1,502 97 
 Superintendsnts, artificers, &c. 4,883 72 
 Laborers, and fuel for engines 2,490 32 
 Tools burnt at the navy yard, 
 
 Washington 31 06 
 
 $14,111 90 
 
 311 98 
 
 45,108 14 
 
 1,7*57 21 
 
 192,632 94 
 
 713 74 
 
 244,409 02 
 
 3,716 50 
 
 2,674 74 
 
 8,374 90 
 
 8,838 
 
 73 
 
 1,894 
 161 
 12,917 CO 
 78,594 22 
 118,492 74 
 19,382 76 
 1,266 49 
 1,313 78 
 5,668 58 
 7,731 93 
 4,683 78 
 
 2,143,588 70 
 
 85 
 61 
 
 28 
 53 
 
 
 16,432 33 
 
 PUBLIC DEBT, VIZ : 
 
 Interest on the funded debt 
 Redemption of 7 per ) principal 2,113 92 
 cent; stock of 181.5, \ premium 11 68 
 
 
 Ufi WIT .3TOH 
 
 p .<>>! mains**! 
 
 $2.127,156 37 
 
 Redemption of exchanged 6 per cent, stock 
 
 of 1812 
 
 Redemption of Treasury note 6 per ct. stock 
 Redemption of 6 per cent, stock of 1812 - 
 Reimbursement of Mississippi stock 
 Principal and interest of Treasury notes - 
 
 3,347,923 92 
 p :J i!jsci''io g 
 
 2,125 60 
 
 56,539 30 
 
 1,479,374 82 
 
 6.187,006 84 
 
 1,524 02 
 
 /1QQ 00 
 
 oq 
 
 493 29 
 
 11,074,987 79 
 $20,190,979 91 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE, Register.
 
 .342 
 
 REPORTS OF THE 
 No. 1. 
 
 [1825. 
 
 STATEMENT of the debt of the United States, 1st October, 1824. 
 
 Three per cent, stock - - - $13.296,231 45 
 
 Exchanged six per cent, stock of 1812 2,668,974 99 
 
 Six per cent stock of 181 2 
 Six per cent, stock of 1813, (16 millions) 
 Six per cent, stock of 1813, (7^ millions) 
 Six per cent, stcck of 1814 
 Six per cent, stock of 1815 
 Treasury note six per cent, stock 
 Treasury note seven per cent, stock 
 Five per cent, stock, (subscription to 
 
 Bank of the United States) - 
 Five per cent, stock of 1820 - 
 Five per cent, stock of 1821 - 
 Exchanged five per cent, of 1822 
 Four and a half per cent, stock, (Flori- 
 da loan) 
 
 6,187,006 84 
 
 15.497.818 63 
 
 6,812,845 44 
 
 13,096,542 90 
 
 9,490,099 10 
 
 1,479,374 82 
 
 4,477,026 17 
 
 7,000,000 00 
 
 999,999 13 
 
 4,735,296 30 
 
 56,704 77 
 
 $15,965,206 44 
 
 74,832,714 10 
 
 $90,797.920 54 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE, Register. 
 
 NOTE. The amount of the debt on the 1st of October, 1824, as per 
 statement No. 3, which accompanied the report of the Secretary of the 
 
 Treasury, of the 31st December, 1824, was 
 Add this sum, ascertained to have been issued 
 on account of the loan of $25,000,000, per 
 act of the 24th March, 1814, more than the 
 sum which has heretofore been stated as the 
 amount of the said loan, and for which the 
 commissioners of loans have not made such 
 returns as to enable the First Auditor to re- 
 port thereon - - J 
 Also, for a variation in the amounts of Treasu- 
 ry note six per cent, and seven per cent, 
 stocks, issued prior to the forming the said 
 statement, but subsequently entered on the 
 
 Treasury books ;S - V - - '7i. f ' 
 
 ' -ssioa ?f; -:?; 
 
 
 $90,697,071 54 
 
 )5,105 27 
 
 5,743 73 
 
 ._ 100.849 00 
 $90,797,920 54 
 
 '
 
 1 825.] SECRETARY OF THE TREASURY. 343 
 
 No. 2. 
 STATEMENT of tht debt of the United States, 1st January, 1825. 
 
 Three per cent, stock - - - $13,296,231 45 
 
 Exchanged six per cent, stock of 1812 - , . ^ -. 56,539 30 
 
 $13 , 352, 770 75 
 
 Six per cent, stock of 1812 -' - % 6,187,00684 
 
 Six per cent, stock of 1813 (16 millions) - - 12,403,05166 
 
 Six per cent, stock of 1813 (74 millions) - 5,452,884 46 
 
 Six per cent, stock of 1814 - _'- 13,096,54290 
 
 Six per cent, stock of 1815 - - 9,490,099 10 
 
 Treasury nole six per cent, stock - *?"' 1,479,374 83 
 
 Treasury note s:ven per cent, stock 2)113 92, 
 Five per cent, stock {subscription to Bank of the United 
 
 States) - - - 7,000,000 00 
 
 Five per cent, stock of 1820 . -' - 999,99913 
 
 Five per cent, stock of 1821 - v fa-i 4,735,296 30 
 
 Exchanged five per cent, stock of 1822 - - 56,704 77 
 Four and a half per cent, stock, per act of the 24th May, 
 
 1824 (Florida loan) - - 5,000,00000 
 Exchanged four and a half per cent, stock, per act of the 
 
 26th May, 1824 ... - 4,454,72795 
 
 70,357,801 85 
 
 $83,710,572 60 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE, Register. 
 
 ' 
 
 . 
 
 -..-'*..
 
 344 REPORTS OF THE [1825. 
 
 x 
 
 No. 3. 
 STATEMENT of the debt of the United States, 1st October, 1825. 
 
 Three per cent, stock - - - - - $13,296,23145 
 
 Six per cent, stock of 1813 (loan of 16 millions) - - *12,422,051 66 
 
 Six per cent, stock of 1813 (loan of 7 millions) - - t5, 433 ,884 46 
 
 Six per cent, stock of 1814 - - 13,096,54-390 
 
 Six per cent, stock of 1815 - 9,490,09!) 10 
 
 Five per cent, stock (subscription to Bank United States) - 7,000,000 00 
 
 Five per cent, stock of 1820 999,999 13 
 
 Five, per cent, stock of 1821 - 4,735,296 30 
 
 Exchanged five per cent, stock of 1822 - 56,70477 
 
 Four and a half per cent, stock, per act of May 24, 1824, 
 
 (Florida loan) - 5,000,00000 
 Exchanged four and a half per cent, stock, per act of May 
 
 26, 18<!4 - - 4,454,727 95 
 
 Funded four and a half per cent, stock, peraci of May 24, 1824 5,000,000 00 
 
 67,689,306 27 
 
 80,985,537 72 
 
 Amount of the debt on the 1st October, 1824, per foregoing statement No. 1 90,797,920 54 
 Add exchanged 4J per cent, stock, issued under the act of May 26, 1824, in 
 lieu of six per cent, stocks of 1813 - - 4,454,727 95 
 
 95,252,648.4!) 
 
 Deduct stock paid off in the fourth quarter of 1824, viz: 
 Seven per cent, stock - - $4,474,91225 
 
 And exchanged six per cent, stock of 1812 - 2,612,43569 
 
 7,087,347 94 
 And six per cent, stocks of 1813, surrendered for exchanged 
 
 4J per cent, stock, viz: 
 
 Of the loan of 16 millions - $3,094,766- 97 
 
 Of the loan of 71 millions - 1,359,960 98 
 
 4,454,727 95 
 
 11,543,075 89 
 
 Amount of the debt on the 1st January, 1825, per statement No. 2 - 83,710,572 60 
 
 Add loan at 4* per cent, per annum, per act of 26th May, 1824 5,000,000 00 
 
 88,710,572 60 
 
 Deduct stock paid off since 1st January, 1825, viz: 
 
 In the first quarter of 1825, the residue of 7 per cent. $2,113 92 
 
 In the first quarter of 1825, the residue of exchanged 6 per ct. 56,539 30 
 
 On the 1st April, the whole of the Treasury note 6'per cent. 1,479,374 82 
 On the 1st October, the whole of the 6 per cent, of 1812 - 6, 187,006 84 
 
 7,725,034 88 
 
 Amount of the debt on the 1st October, 1825, as above stated JO, 985, 537 72 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE, Register. 
 
 *Six per cent, of 1813 ($'16,000,000 loan) - ... 12,422,05166 
 
 t Six per cent, of 1813 ( $7,500,000 loan) - 5 , 433 , 884 46 
 
 17,855,936 12 
 
 Deduct amount subscribed under the act of 3d March, 1825, and for which 
 4J per cent, stock is to be issued on the 1st January, 1826 - 1 ,585, 138 88 
 
 Leaves the amount of 6 per cent, of 1813, reimbursable in 1826 - $16,270,797 24
 
 1825.] SECRETARY OF THE TREASURY. 345 
 
 No. 4. 
 
 ESTIMATED AMOUNT of Treasury notes outstanding on the \st 
 
 October, 1824. 
 
 Total amount issued (as per statement No. 4 of the last 
 
 report) - - $36,680,794 00 
 
 Cancelled and reported on by the First Auditor - - 36,664,194 00 
 
 Outstanding $16,600 00 
 
 Consisting of small Treasury notes $2,370 00 
 
 Notes bearing interest - 14,230 00 
 
 $16,600 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE, Register. 
 
 No. 5. 
 
 STATEMENT of the stock issued under the act of Congress, entitled 
 " An act supplementary to the act for the indemnification of certain 
 claimants of public lands in the Mississippi Territory" passed the. 
 3d March, 1815. 
 
 Amount of claims awarded per statement No. 5 of last 
 year - -$4,282,151 
 
 Whereof there was paid in for lands, per said report - $2,447,535 39 
 
 Payments at the Treasury to the 30th 
 September, 1824 - $1,820,599 20 
 
 Payments from October 1, 1824, to Sep- 
 tember 30, 1825 -> - - 6,166 36 
 
 1,826,765 56 
 
 Balance outstanding October 1, 1825, consisting of- 
 Certificates outstanding - $7,805 57 
 Awards not applied for - 44 60A 
 
 7,850 17^ 
 
 4,282,151J. 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8, 1825. 
 
 JOSEPH NOURSE, Register.
 
 346 REPORTS OF THE [1825. 
 
 TREASURY DEPARTMENT, 
 
 March 15, 1826. 
 
 SIR : I have the honor to transmit, herewith, statements marked B and 
 C, referred to in the annual report from this department, dated the 22d of 
 December, 1825. 
 
 I have the honor to be, 
 
 With the highest respect, 
 
 Your most obedient servant, 
 
 RICHARD RUSH. 
 The Hon. the PRESIDENT OF ,THE SENATE. 
 
 '.yfeinVSi .fl&llO7! ' KISapl . .
 
 L825.] SECRETARY OF THE TREASURY. 
 
 B. 
 
 347 
 
 A STA TEMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1824; 
 (consisting of the difference between articles paying duty, imported, 
 and those entitled to drawback, re-exported ;) and, also, of the neti reve- 
 nue which accrued that year from duties on merchandise, tonnage, 
 passports, and clearances. 
 
 MERCHANDISE PAYING DUTIES AD VALOREM. 
 
 $419,526 at 7i per cent. - - ~<- T /* 
 1 288 12 do - " . 4j '' 
 
 $31,464 45 
 154 56 
 
 117,483 62 
 1,600,579 20 
 1,295,489 20 
 4,256,083 75 
 1,747,128 00 
 576 45 
 13,319 20 
 83,813 50 
 
 $9,146,091 93 
 11,701,586 12 
 
 939,869 J2J do. , - - .'. 
 10,670,528 15 do. ., - 
 6,477,446 20 do. - - 
 17,024,335 25 do. - - j ,' - 
 5,823,760 30 do. - ' ,-' * 
 1,647 35 do. ' , 
 33,298 40 do. - ;#,:. 
 167,627 50 do. -C - 
 
 $41,559 324 22 do. average 
 
 9,146,091 93 
 
 ARTICLES PAYING A SPECIFIC DUTY. 
 
 1. Wines, 1,527,978 gallons, at 30.5 cents, average - 
 2. Spirits, 5,285,047 gallons, at 44.4 cents, average - 
 Molasses, 12,871,425 gallons, at 5.0 cents 
 3. Teas, 7,107,677 pounds, at 33.3 cents, average - 
 Coffee, 20, 368, 450 pounds, at 5.0 cents 
 4. Sugar, 78, 486, 658 pounds, at 30. 7 cents, average -, 
 5. Salt, 3,092,092 bushels, at 20.0 cents 
 6. All other articles - 
 
 466,604 45 
 2,348,074 56 
 643,571 25 
 2,368,306 15 
 1,018,422 5!) 
 2,408,688 11 
 618,410 40 
 1,829,508 70 
 
 Deduct duties refunded, after deducting therefrom duties on merchandise, 
 the particulars of which were not specified by the collectors, and differ- 
 ence in calculation - - 
 
 Add 2i per cent, retained on drawback - $122,678 68 
 discount retained on re-exportations - -',. 933 56 
 discriminating duty on French vessels - - 338 02 
 extra duty on merchandise imported in foreign vessels 21 , 592 35 
 interest on custom-house bonds - - 26,84408 
 storage received - ... 3,80454 
 
 20,847,678 05 
 22,035 35 
 
 20,825,642 70 
 17^,191 23 
 
 i ?!fi9D OC- .'ej^cl'l** -^,,..1 
 
 Duties on merchandise 
 Duties on tonnage - - - 
 Light money - 
 
 $109,243 16 
 17,273 28 
 
 21,001,833 93 
 
 126,516 44 
 10,986 00 
 
 Passports and clearances - * 
 
 Deduct drawback on domestic distilled spirits exported 
 drawback on domestic refined sugar exported 
 
 934 92 
 1,038 56 
 
 21,139,33637 
 1,973 48 
 
 Gross revenue - *-&. ' '" *\ 
 Expenses of collection . 
 
 Nett revenue, per statement A 
 
 21,137,362 89 
 751,932 47 
 
 $20,385,430 42
 
 348 
 
 REPORTS OF THE 
 
 Explanatory Statements and Notes. 
 
 [1825. 
 
 1. Wines 
 Madeira 
 Champagne, &c. 
 Sherry and St. Lucar, &c. 
 Lisbon, Oporto, &c. 
 Teneriffe, Fayal, &c. 
 Claret, &c., in bottles 
 All ouier, in casks - 
 
 2. Spirits- 
 Grain, 1st proof 
 2d do. 
 3d do. 
 4th do. 
 5th do. 
 Other, 2d do. 
 3d do. 
 4th do. 
 5th do. 
 
 3. Teas 
 Bohea 
 Souchong - 
 Hyson skin 
 
 Hyson and young hyson 
 Imperial 
 
 Extra duties on teas imported 
 from other places than China 
 
 4. Sugars 
 Brown, &c. 
 White, clayed, &c. 
 
 5. Salt- 
 Imported, bushels 
 Exported, do. 
 Bounties and allowances 
 
 reduced into bushels, at 
 
 20 cents - 
 
 109,861 gallons, at 100 cents 
 4,852 gallons, at 100 cents 
 
 11 ,794 gallons, at 60 cents 
 266,780 gallons, at 50 cents 
 136,802 gallons, at 40 cents 
 
 46,806 gallons, at 30 cents 
 951 ,083 gallons, at 15 cents 
 
 1 ,527,978 gallons, at 30. 5 cts., average 
 
 820 , 127 gallons, at 42 cents 
 
 90,855 gallons, at 45 cents 
 
 77,278 gallons, at 48 cents 
 
 5,987 gallons, at 52 cents 
 
 809 gallons, at 60 cents 
 
 674 , 129 gallons, at 38 cents 
 
 1 , 179 ,264 gallons, at 42 cents 
 
 2,425,293 gallons, at 48 cents 
 
 11, 305 gallons, at 57 cents 
 
 5,285,047 gallons, at 44.4 cts., average 
 
 42, 114 pounds, at 12 cents 
 
 1,908, 124 pounds, at 25 cents 
 
 1,776,356 pounds, at 28 cents 
 
 3 , 023 ,710 pounds, at 40 cents 
 
 357,373 pounds, at 50 cents 
 
 7,107,677 
 
 7 , 107 , 677 pounds, at 33 . 3 cts. average 
 
 73,077,821 pounds, at 3 cents - 
 5 , 408 , 837 pounds, at 4 cents - 
 
 78 , 486 , 658 pounds, at 3 . 7 cents, average 
 4, 227 ,841, at 20 cents 
 
 61,435 
 
 1,074,354 
 
 1,135,789, at 20 cents 
 
 3,092,052, at 20 cents 
 
 $109,861 00 
 
 4,852 00 
 
 7,076 40 
 
 133,390 00 
 
 54,720 80 
 
 14,041 80 
 
 142,662 45 
 
 $466,604 45 
 
 344,453 34 
 
 40,884 75 
 
 37,093 44 
 
 3,113 24 
 
 485 40 
 
 256,169 02 
 
 495,290 88 
 
 1,164,140 64 
 
 6,443 85 
 
 82,348,074 56 
 
 5,053 68 
 
 477,031 00 
 
 497,379 68 
 
 1,209,484 00 
 
 178,686 50 
 
 2,367,634 86 
 671 29 
 
 $2,368,306 15 
 
 2,192,334 63 
 216,353 48 
 
 $2, 408, 688 11 
 
 845,568 20 
 
 227,157 80 
 
 $618,410 40 
 
 '.>n,*jX'j - '.; ' : ;
 
 1825.] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 349 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents 
 
 
 Duck, Holland 
 
 - pieces 
 
 369 
 
 250 
 
 .$958 50 
 
 Carpeting. Brussels 
 
 - yards 
 
 29,312 
 
 50 
 
 14,656 00 
 
 Venetian - - 
 
 - do. 
 
 230,054 
 
 25 
 
 57,513 50 
 
 other 
 
 do. 
 
 711 
 
 20 
 
 142 20 
 
 Cotton bagging 
 
 do. 
 
 2,157,337 
 
 3| 
 
 80,900 13 
 
 Vinegar - 
 
 - gallons 
 
 7,663 
 
 8 
 
 613 04 
 
 Beer, ale, and porter, in bottles 
 
 - do. 
 
 40,800 
 
 15 
 
 6,120 00 
 
 in bottles 
 
 do. 
 
 29,493 
 
 20 
 
 5,898 60 
 
 in casks 
 
 -. do. 
 
 1,606 
 
 10 
 
 160 60 
 
 in casks - 
 
 do. 
 
 3,897 
 
 15 
 
 584 55 
 
 Oil, olive, in casks - 
 
 da 
 
 49,283 
 
 25 
 
 12,320 75 
 
 whale, and other fish 
 
 do. 
 
 431 
 
 15 
 
 64 65 
 
 castor - " - 
 
 do. 
 
 116 
 
 40 
 
 46 40 
 
 linseed - '.?-' 
 
 do. 
 
 14,440 
 
 25 
 
 3,610 00 
 
 Cocoa - '"^'x { * 
 
 - pounds 
 
 898,573 
 
 2 
 
 17,971 46 
 
 Chocolate - - - 
 
 - do. 
 
 1,014 
 
 3 
 
 30 42 
 
 Chocolate "/' 
 
 do. 
 
 705 
 
 4 
 
 28 20 
 
 Sugar, candy 
 
 do. 
 
 723 
 
 12 
 
 86 76 
 
 loaf - ' >; 
 
 do. 
 
 311 
 
 12 
 
 37 32 
 
 other, refined and lump 
 Almonds - _/ 
 
 - do. 
 do. 
 
 151 
 
 540,302 
 
 10 
 3 
 
 15 10 
 16,209 C6 
 
 Currants - v^- , a ' 
 
 - do. 
 
 133,617 
 
 3 
 
 4,008 51 
 
 Prunes and plums - .'V.' 
 
 - do. 
 
 29,503 
 
 3 
 
 885 09 
 
 Prunes and plums - 
 
 do. 
 
 153,350 
 
 4 
 
 6,134 00 
 
 Figs 
 
 - do. 
 
 548,218 
 
 3 
 
 16,446 54 
 
 Raisins, Muscatel, &c. * 
 
 do. 
 
 646,023 
 
 3 
 
 19,380 69 
 
 Muscatel, &c. .-V 
 
 do. 
 
 931,290 
 
 4 
 
 37,251 60 
 
 other - ' - 
 
 do. 
 
 1,134,110 
 
 2 
 
 22,(i82 20 
 
 other 
 
 do. 
 
 972,188 
 
 3 
 
 29,165 64 
 
 Candles, lallow 
 
 do. 
 
 8,815 
 
 3 
 
 264 45 
 
 tallow 
 
 do. 
 
 13,586 
 
 5 
 
 679 30 
 
 Cheese - - _ ' 
 
 do. 
 
 29,628 
 
 9 
 
 2,666 52 
 
 Soap 
 
 do. 
 
 184,958 
 
 4 
 
 7,398 32 
 
 Tallow - . iw . 
 
 do. 
 
 671,433 
 
 1 
 
 6,714 33 
 
 Beef and pork - > : - 
 
 do. 
 
 787 
 
 2 
 
 15 74 
 
 Hams and other bacon >' .* ' ! 
 
 - do. 
 
 17,525 
 
 3 
 
 219 45 
 
 Buttrr - - ,&*-: 
 
 do. 
 
 2,514 
 
 5 
 
 125 70 
 
 Saltpetre, refined - '.-A ' - -, 
 
 ' -- do. 
 
 61,517 
 
 3 
 
 1,845 51 
 
 Vitriol, oil of - - [, ,4. 
 
 do. 
 
 46,097 
 
 3 
 
 1,382 91 
 
 Camphor, crude - "' *& 
 
 do. 
 
 49,677 
 
 8 
 
 3,974 16 
 
 Salts, Epsom - ; *-\. 
 
 do. 
 
 159,402 
 
 4 
 
 6,376 08 
 
 Glauber .- 
 
 do. 
 
 186 
 
 2 
 
 3 72 
 
 Spices Cayenne pepper 
 
 - - do. 
 
 107 
 
 15 
 
 16 05 
 
 ginger 
 
 - do. 
 
 1,414 
 
 2 
 
 28 28 
 
 mace - 
 
 -. do. 
 
 7,132 
 
 100 
 
 7,132 00 
 
 nutmegs - '-- .,' 
 
 do. 
 
 39,486 
 
 60 
 
 23,655 60 
 
 cloves - ''.r- 
 
 - v do. 
 
 8,720 
 
 25 
 
 2,180 00 
 
 pepper, black St-~- i -.? . . 
 
 do. 
 
 1,473,402 
 
 8 
 
 117,872 16 
 
 pimento - ^ ].' J ' . " 
 
 do. 
 
 1,094,851 
 
 6 
 
 65,691 06 
 
 cassia - 
 
 do. 
 
 279,160 
 
 6 
 
 16,749 60 
 
 Tobfftco, manufactured, &c. 
 
 do. 
 
 639 
 
 10 
 
 63 90 
 
 Snuff - - f _, '. 
 
 do. 
 
 5,212 
 
 12 
 
 625 44 
 
 Indigo - - .'.> | *-./, 
 
 - - do. 
 
 378,322 
 
 15 
 
 56,748 30 
 
 Cotton - - .r- I joS- 
 
 do. 
 
 517,681 
 
 3 
 
 13,530 43 
 
 Gunpowder 
 
 da 
 
 49,035 
 
 8 
 
 3,922 80 
 
 Bristles .... 
 
 da 
 
 176,513 
 
 3 
 
 5,295 39 
 
 Glue 
 
 do. 
 
 48,359 
 
 5 
 
 2,417 95 
 
 Paints ochre, dry - 
 
 -* do. 
 
 501,576 
 
 1 
 
 5,015 76 
 
 in oil 
 
 - da 
 
 17,650 
 
 li 
 
 264 75 
 
 VOL. ii. 44
 
 REPORTS OF THE 
 Explanatory Statements and Notes Continue d. 
 
 [1825 
 
 6. All other articles. 
 
 duantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 Paints, white and red lead - 
 
 - pounds 
 
 2,194,603 
 
 Ceiits. 
 3 
 
 865,838 09 
 
 white and red lead - 
 
 do. 
 
 1,509,045 
 
 4 
 
 60,361 80 
 
 whiting 
 
 do. 
 
 280,022 
 
 1 
 
 2,900 22 
 
 Lead, bar, sheet, and pig - 
 
 do. 
 
 1,137,809 
 
 1 
 
 11,378 09 
 
 bar, sheet; and pig - 
 
 do. 
 
 1,330,622 
 
 2 
 
 26,612 64 
 
 shot - - 
 
 do. 
 
 286,596 
 
 2 
 
 5,731 92 
 
 shot 
 
 - do. 
 
 79,007 
 
 3* 
 
 2,765 25 
 
 Cables, tarred - 
 
 - -do. 
 
 68., 140 
 
 4 
 
 2,725 60 
 
 Cordage, tarred - - - 
 
 do. 
 
 447,544 
 
 4 
 
 17,901 76 
 
 un tarred 
 
 do. 
 
 1,046 
 
 4 
 
 41 84 
 
 nmarred 
 
 do. 
 
 28,335 
 
 5 
 
 1,416 75 
 
 Twine, packthread, &c. - - 
 
 do. 
 
 34,499 
 
 4 
 
 1,379 96 
 
 Twine, packthread, &c. 
 
 do. 
 
 200,188 
 
 5 
 
 10,009 40 
 
 Corks 
 
 - v do. 
 
 44,067 
 
 12 
 
 5,288 04 
 
 Copper, rods and bolts - - 
 
 do. 
 
 3,015 
 
 4 
 
 120 60 
 
 nails and spikes 
 
 do. 
 
 311 
 
 4 
 
 12 44 
 
 Iron muskets - 
 
 - No. 
 
 . 2,499 
 
 150 
 
 3,748 50 
 
 rifles - 
 
 do. 
 
 2 
 
 150 
 
 3 00 
 
 wne, not above No. 18 
 
 - pounds 
 
 449,318 
 
 5 
 
 22,465 90 
 
 above No. 18 - 
 
 do. 
 
 279,193 
 
 9 
 
 25,122 51 
 
 tacks, brads, &c. not above 16 oz. per 
 
 1000 M. 
 
 31,462 
 
 5 
 
 1,573 10 
 
 above 16 oz. 
 
 do. 
 
 3,659 
 
 5 
 
 182 95 
 
 nails - 
 
 - pounds 
 
 247,121 
 
 4 
 
 9,884 84 
 
 nails - 
 
 do. 
 
 157,677 
 
 5 
 
 7,883 85 
 
 spikes - , - 
 
 do. 
 
 33,282 
 
 3 
 
 998 46 
 
 spikes - - 
 
 do. 
 
 31,379 
 
 4 
 
 1,255 16 
 
 chain cables - - 
 
 do. 
 
 271,268 
 
 3 
 
 8,138 04 
 
 imllsaws - - - 
 
 - No. 
 
 1,274 
 
 100 
 
 1,274 00 
 
 anchors 
 
 - pounds 
 
 ' 107,458 
 
 2 
 
 2,025 20 
 
 anvils 
 
 do. 
 
 211,753 
 
 2, 
 
 4,235 06 
 
 hammers and sledges - 
 
 do. 
 
 . 25,625 
 
 2j 
 
 640 62 
 
 castings, vessels 
 
 do. 
 
 428,369 
 
 It 
 
 6,425 52 
 
 other 
 
 do. 
 
 404,859 
 
 r 
 
 4,048 59 
 
 round and brazier's rods 
 
 do. 
 
 10,124 
 
 3 
 
 303 72 
 
 nail rods, &c. 
 
 do. 
 
 9,629 
 
 3 
 
 288 87 
 
 slit and hoop, &c. , - 
 
 do. 
 
 1,652,216 
 
 3 
 
 49,566 48 
 
 castings 
 
 cwt. 
 
 10,639 
 
 75 
 
 7,979 25 
 
 sheet and hoop 
 
 do. 
 
 12,620 
 
 250 
 
 31,550 00 
 
 pig 
 
 do. 
 
 12,588 
 
 50 
 
 6,294 00 
 
 bar, rolled - 
 
 do. 
 
 58,287 
 
 150 
 
 87,430 50 
 
 hammered .* 
 
 do. 
 
 37,979 
 
 75 
 
 28,484 25 
 
 hammered 
 
 do. 
 
 356,250 
 
 90 
 
 320,625 00 
 
 Steel 
 
 do. 
 
 19,851 
 
 100 
 
 19,851 00 
 
 Hemp 
 
 do. 
 
 78,830 
 
 175 
 
 137,952 50 
 
 Hemp 
 
 do. 
 
 219 
 
 150 
 
 328 50 
 
 Alum 
 
 . dp. 
 
 55 
 
 200 
 
 110 00 
 
 Copperas '" T , 
 
 - do. 
 
 7,806 
 
 100 
 
 7,806 00 
 
 Copperas 
 
 - do. 
 
 1,410 
 
 200 
 
 2,820 00 
 
 Flour (wheat) - ^- 
 
 do. 
 
 418 
 
 50 
 
 209 00 
 
 Goal 
 
 - bushels 
 
 398,342 
 
 5 
 
 19,917 10 
 
 Coal "* 
 
 do. 
 
 422,461 
 
 6 
 
 25,347 66 
 
 Wheat --. 
 
 do. 
 
 570 
 
 25 
 
 142 50 
 
 Gate 
 
 - do. 
 
 21 
 
 10 
 
 2 Id 
 
 Potatoes ... 
 
 do. 
 
 7,223 
 
 10 
 
 72230 
 
 Paper, folio and 4to post 
 foolscap, drawing, &c. 
 
 - pounds 
 do. 
 
 5,710 
 109,863 
 
 20 
 17 
 
 1,142 00 
 18,676 7) 
 
 printing, copperplate, &c. 
 sheathing, binder's, &c. 
 
 do. 
 do. 
 
 448 
 34,778 
 
 10 
 3 
 
 115 85 
 1,043 34 
 
 all other - - - ! x 
 
 - do. 
 
 9,201 
 
 15 
 
 1,390 15 

 
 1S25/J SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 351 
 
 6. All other articles. 
 
 Gluantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 Books printed previous to 1775 
 
 vols. 
 
 1,607 
 
 Cents. 
 4 
 
 $64 28 
 
 printed in other languages than Eng- 
 
 
 
 
 
 lish, except Latin or Greek - 
 
 do. 
 
 37,186 
 
 4 
 
 1,487 44 
 
 Latin or Greek, bound 
 
 pounds 
 
 2-, 441 
 
 15 
 
 366 15 
 
 do. in boards 
 
 do. 
 
 1,560 
 
 13 
 
 202 80 
 
 all other, bound 
 
 do. 
 
 6,968 
 
 30 
 
 2,090 40 
 
 do. in boards */' 
 
 do. 
 
 19,580 
 
 26 
 
 5,090 80 
 
 Glass, cut. and not specified - 
 
 do. 
 
 18,149 
 
 3 
 
 544 47 
 
 other articles 
 
 do. 
 
 382,497 
 
 2 
 
 7,649 94 
 
 apothecaries' vials, not above 4 oz. 
 
 gross 
 
 2,602 
 
 100 
 
 2,602 00 
 
 do. not above 8 oz. 
 
 -do. 
 
 287 
 
 125 
 
 358 75 
 
 bottles, not above 1 quart 
 
 do. 
 
 4,637 
 
 144 
 
 6,677 28 
 
 do. do. 1 do. 
 
 do. 
 
 5,376 
 
 2CO 
 
 10,752 00 
 
 do. do. 2 do. 
 
 do. 
 
 228 
 
 250 
 
 570 00 
 
 do. do. 4 do. 
 
 do. 
 
 35 
 
 300 
 
 105 00 
 
 demijohns 
 
 number i 10,630 
 
 25 
 
 2,657 50 
 
 window, not above 8 by 10 inches 
 
 100 sq.ft. 1 119 
 
 250 
 
 297 50 
 
 do. do. 8 by 10 do. 
 
 do. 217 
 
 300 
 
 651 00 
 
 do. do. 10 by 12 do. 
 
 do. 
 
 416 
 
 275 
 
 1,444 00 
 
 do. do. 10 by 12 do. 
 
 do. 
 
 222 
 
 350 
 
 777 00 
 
 do. above 10 by 12 do. 
 
 do. 
 
 700 
 
 325 
 
 2,275 00 
 
 do. do. 10 by 12 do. 
 
 do. 
 
 793 
 
 400 
 
 3,172 00 
 
 uncut, ia plates, &c. 
 
 do. 
 
 121 
 
 400 
 
 484 00 
 
 Fish, dried or smoked - 
 
 quintals 
 
 1,480 
 
 100 
 
 1,480 00 
 
 salmon, pickled - 
 
 barrels 
 
 1,703 
 
 200 
 
 3,406 00 
 
 mackerel, do. 
 
 do. 
 
 763 
 
 150 
 
 1,144 50 
 
 all other, do. 
 
 do. 
 
 632 
 
 100 
 
 632 00 
 
 Shoes and slippers, silk 
 
 pairs 
 
 936 
 
 30 
 
 280 80 
 
 prunella - 
 
 do. ' 
 
 496 
 
 25 
 
 124 00 
 
 leather, men and women's, &c. - 
 
 do. 
 
 1,936 
 
 25 
 
 484 00 
 
 children's 
 
 do. 
 
 193 
 
 15 
 
 28 95 
 
 Boots and bootees 
 
 do. 
 
 206 
 
 150 
 
 309 00 
 
 Segars - 
 
 M. 
 
 10,456 
 
 250 
 
 26,140 00 
 
 Playing cards - 
 
 packs 
 
 6,630 
 
 30 
 
 1,989 00 
 
 Deduct expectations over importations, viz . 
 
 1,879,287 21 
 
 Duck, Russia - 2, 602 pieces, at 200 cents - 
 Raven's - 7, 456 pieces, at 125 cents 
 Sheeting, brown Russia 12,375 pieces, at 160 cents 
 white Russia - 170 pieces, at 250 cent? 
 Candles, wax - 2,270 pounds, at 6 cents 
 Soap 145,121 pounds, at Scents 
 Cinnamon - 6, 165 pounds, at 25 cents 
 Cordage, tarred, and cables 299,961 pounds, at Scents 
 
 Carried to statement B - 
 
 Spermaceti candles, imported 111 pounds, at Scents 
 exported 111 pounds, at Scents 
 
 $5,204 00 
 9,320 00 
 19,799 60 
 425 00 
 136 20 
 4,353 63 
 1,541 25 
 8,998 83 
 
 49,778 51 
 
 - 
 
 1,829,508 70 
 
 8 83 
 8 83 
 
 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, March 8, 1826. 
 
 JOSEPH NOURSE, Register.
 
 REPORTS OF THE [1825. 
 
 C. 
 
 STATEMENT exhibiting the amount of American and foreign ton- 
 nage employed in the foreign trade of the United States during the 
 year ending on the 3lst day of December, 1824. 
 
 American tonnage in foreign trade - - Tons 845,758 
 
 Foreign tonnage in foreign trade 90,666 
 
 Total tonnage employed in the foreign trade of the United States 936,424 
 
 Proportion of foreign tonnage to the whole amount of tonnage 
 employed in the foreign trade of the United States - - 9.6 to 100 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, March 8, 1826. 
 
 JOSEPH NOURSE, Register.
 
 1826.] SECRETARY OF THE TREASURY. 353 
 
 REPORT ON THE FINANCES. 
 DECEMBER, 1826. 
 
 In submitting to Congress the annual report required by law, on the 
 finances, the Secretary of the Treasury is happy in being able to represent 
 them, for the present year, as in a satisfactory condition. Whilst other 
 countries, and some with which the United States maintain extensive deal- 
 ings, have beheld great branches of their industry, if not altogether pros- 
 trated, interrupted to an extent productive of a high degree of suffering, the 
 United States have experienced within themselves no such calamitous occur- 
 rences, and have been freed from all other than a slight recoil of the pecu- 
 niary evils which have been seen to press so heavily in other regions. When 
 adverting to the complicated connexions that bind together the pecuniary 
 interests of commercial States having large exchanges with each other, the 
 reaction from abroad has been less felt than might have been expected, and 
 has brought with it no results afflictive to the community, or inauspicious to 
 the regular operations of the Government. The public obligations have all 
 been punctually fulfilled, without any increase of the public burdens; and the 
 national-revenue, which derives, no aid from the existence of direct taxes or 
 internal duties of any kind, but rests upon the customs almost exclusively, 
 has been unusually abundant in the sums realized for the year drawing to a 
 close, and promises to be fully adequate to meet every stated head of the 
 public expenditure, including the sum annually devoted to the extinguish- 
 ment of the debt for the year that is to come. This substantial prosperity is 
 the result of the general industry, fostered by good laws and a just economy 
 in the public administration laws which, by enlarging the home demand fo 
 the productions of the soil, have aided in supplying deficiencies in the for- 
 eign demand, and which, by superadding to exports the results of manufac- 
 turing to those of agricultural labor, have tended to open new avenues to 
 external traffic. This state of the country, in its financial resources and 
 concerns for the year, will be seen in the recapitulations that follow. They 
 will consist, first, of the amount of moneys paid into the Treasury, in 1826, 
 and in the year preceding ; and the expenditures of those two years. Next, 
 of the state of the public debt, and the portions of it that have been paid off; 
 which will be seen to exceed the sum regularly appropriated bylaw for that 
 purpose within the year. And lastly, of the estimates of the public reve- 
 nue and expenditure for the year 1827. 
 
 1. OF THE PUBLIC REVENUE AND EXPENDITURE OF THE YEARS 1825 
 
 AND 1826. 
 
 The nett revenue which accrued from duties on imports 
 and tonnage, during the year 1825, amounted (see state- 
 ment A)* to - $24,358,202J7 
 
 *Statements B and C, connected with this document, are reserved for a separate communi- 
 cation. [See post, page 475.] 
 
 VOL. ii. 23
 
 354 REPORTS OF THE [1880. 
 
 The actual receipts into the Treasury from all sources 
 
 during the year 1825 amounted to ' -$20.840,85802 
 
 Viz. 
 
 Customs (statement A) $20.098.713 45 
 
 Public lands (statement D) - - 1,216.090 56 
 
 Dividends on stock in the Bank of the 
 
 United States, arrears of internal duties 
 
 and direct taxes, and incidental receipts, 
 
 (statement E) - 482,134 69 
 
 Repayments of advances made in the 
 
 War Department for services or supplies 
 
 prior to the 1st of July, 1815 - 43,919 32 , 
 
 Loan of five millions, under the act of 
 
 Congress of the 26th of May, 1824 - 5,000,000 00 
 
 Making, with the balance in the Treasury on the 1st 
 of January, 1825, of .,- 1,946,597,13 
 
 An aggregate of . $28,787,455 15 
 
 The actual expenditures of the United States, on all ac- 
 counts, during the year 1825, amounted (statement F) to 23,585.804 7-2 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $2.748.544 89 
 Military service, including fortifications, . : 
 
 ordnance, Indian department, revolution- 
 ary and military pensions, arming the mi- 
 litia, and arrearages prior to the 1st of. Jan- 
 uary, 1817 - 5,692,831 19 
 
 Naval service, including the gradual in- 
 crease of the navy - 3,049,083 86 
 Public debt - 12,095,344 78 
 
 Leaving a balance in the Treasury on the 1st of Janu- 
 ary, 1826, of $5,201,650 43 
 
 The difference, amounting to $82,411 35, between this balance and that 
 stated in the last annual report from the Treasury, which was $5,284,061 78, 
 is owing to the balance last year having been given as an estimate only. 
 Actual settlement has fixed it at the sum now stated. 
 
 The actual receipts into the Treasury, during the first three quarters of 
 the year 1826, are estimated to have amounted to - $19,585.932 50 
 
 Viz. 
 
 Customs -$18,031,426 86 
 
 Public lands (statement G) - '. 1,053,961 29 
 
 Dividends on stock in the Bank of the 
 United States 402,500 00 
 
 Arrears of internal duties and direct tax- 
 es, and incidental receipts (statement H) - 80,492 72 
 
 Repayments of advances made in the 
 War Department for services or supplies 
 prior to 1st of July, 1815 17,551 63
 
 1826.] SECRETARY OF THE TREASURY. 355 
 
 And the actual receipts into the Treasury, during the 
 
 fourth quarter of the year, are estimated at - $6,300,000 00 
 
 Making the total estimated receipts into the Treasury dur- 
 ing the year 1846 - 25,885,932 50 
 
 And. with the balance in the Treasury, on the 31st of De- 
 cember, 1835, of - 5,201,650 43 
 
 An aggregate of - - 31,087,582 93 
 
 The expenditures of the first three quar- 
 
 ters of the year 1826', are estimated to 
 
 have amounted (statement I) to $18,714.226 66 
 
 Viz. 
 Civil, diplomatic, and mis- 
 
 cellaneous $2,029,331 55 
 
 Military service, including 
 
 fortifications, ordnance, 
 
 Indian department, revo- 
 
 lutionary and military 
 
 pensions, arming the mi- 
 
 litia, and arrearages prior 
 
 to January 1, 1817 - 5,266,980 93 
 Naval service, including the 
 
 gradual increase of the 
 
 navy - - 3,321,332 79 
 
 Public debt - 8,096,581 39 
 
 And the expenditures of the fourth quarter 
 
 are estimated at - ' "a ' - - 5,947,817 30 
 
 Viz. 
 Civil, diplomatic, and mis- 
 
 cellaneous - $840,000 00 
 
 Military service, including 
 
 fortifications, ordnance, 
 
 Indian department, revo- 
 
 lutionary and military 
 
 pensions, arming the mi- 
 
 litia, and arrearages prior 
 
 to January 1, 1817 - 1,293,000 00 
 Naval service, including the 
 
 gradual increase of the 
 
 navy - t.*:i 900,000 00 
 
 Public debt 
 
 Reimbusement of princi- 
 pal $2,002,306 71 
 
 Payment of 
 interest - 912,510 59 
 
 -- 2,914,817 30 
 
 Making the total estimated expenditure of the year 1826 - 24,662,043 9fr 
 
 And leaving in the Treasury, on the 1st of January, 1827, 
 an estimated balance of ... $6,425,538 97
 
 356 REPORTS OF THE [1826, 
 
 Should the estimate of receipts for the fourth quarter prove to be correct, 
 the total amount of receipts for the year 1826 will have exceeded the total 
 estimates presented to Congress last year by a sum approaching four hun- 
 dred thousand dollars. 
 
 Of the balance of $6,425.538 97, stated, by estimate, as that which will 
 be in the Treasury on the 1st of January, 1827, it is proper to remark that 
 it will be subject to the following charges : 1st. The balances of unapplied 
 appropriations, which will remain to be satisfied after the 1st of January, 
 1827, amounting, by estimate, to $3,425,000 ; 2d. About one million of dol- 
 lars in funds not at present effective, as particularly explained (pages 314 and 
 315) in the last annual report ; 3d. The reservation of $2,000,000 under 
 the fourth section of the act of Congress of the 3d of March, 1817, entitled 
 " An act to provide for the redemption of the public debt." 
 
 The directions issued last year to the receivers and collectors of the pub- 
 lic revenue in all parts of the United States not to receive, in any payments 
 made to them, bank notes of any of the State banks of a less denomination 
 than five dollars, continue in full force, and are lending their aid in dis- 
 countenancing the circulation of small notes, and substituting in their stead 
 a greater proportion of the metallic medium. 
 
 II. OF THE PUBLIC DEBT. 
 
 That the precise nature and amount of the funded debt of the United 
 States, as it exists at the present time, may be seen, the several descriptions 
 of debt of which it is composed, with the periods at which they were con- 
 tracted and are redeemable, will be stated. 
 
 The aggregate amount of the debt OK the 1st of October last (see state- 
 ment No. 3) was $75.923,151 47. This sum includes the remnant of the 
 debt of the revolution, amounting to $13,296,247 70, at an interest of three 
 per cent. ; and the sum of $7,000,000, subscribed to the Bank of the United 
 vStates the United States owning an equal amount in the shares of the 
 bank. These sums, making together $20,296,247 70, are both redeemable 
 at the pleasure of the Government. 
 
 The remainder of the debt has been contracted since the 1st of January, 
 1812, and consists of the sums that follow, redeemable at the dates that 
 follow : 
 
 1. The sum of $11,254,197 46, at six per cent., being the residue unpaid 
 of the loan under the act of the 8th of February, 1813, and redeemable in 
 1826. 
 
 2. The sum of $13,096,542 90, at six per cent., being the residue un- 
 paid of loans made in 1814, and redeemable in 1827. 
 
 3. The sum of $9,490,099 10, at six per cent., being the residue unpaid 
 of loans made in 1815, and redeemable in 1828. 
 
 4. The sum of $769,668 08, at an interest of four and a half per cent., 
 being one-half of the six per cent, stock of 1813, exchanged under the act 
 of Congress of the 3d of March, 1825, and redeemable in 1829. 
 
 5. The sum of $769,668 08, at an interest of four and a half per cent, 
 being the other half of the six per cent, stock exchanged as above, and re- 
 deemable in 1830. These two last enumerated sums were set down last 
 year, by estimate, at $792,569 44, respectively. The accounts of the com- 
 missioners of loans having since been adjusted, the true amounts are ascer- 
 tained to be as now exhibited.
 
 SECRETARY OF T&E TREASURY. 367 
 
 6. The sum of $18,901 59, at five per cent, being the one-third part of 
 the sum of $56,704 77, issued in exchange for the six per cent, stocks of 
 1813, 1814, and 1815, under the act of the 20th of April, 1822, and re- 
 deemable in 1831. 
 
 7 The sum of $18,901 59, at five per cent., being one other third part 
 of the sum subscribed as above stated, and redeemable in 1832. 
 
 8. The sum of $10,000,000, at 4^ per cent., being stock borrowed under 
 the acts of May the 24th and 2(3th, 1824, of the Bank of the United States; 
 one half to pay the Florida claims, the other half to pay off the six per 
 cent, stock of 1812. and redeemable in 1832. 
 
 9. The sum of .$999,999 13, at 5 per cent., being the stock created by 
 the act of Congress of May the 15th, 1820, and redeemable in 1832. 
 
 10. The sum of $18.901 59, at 5 per cent., being the remaining third 
 subscribed under the act of April the 20th, 1822, and redeemable in 1833. 
 
 11. The sum of $2,227,363 97, at 4- per cent., being one-half of the 
 amount subscribed in exchange for six per cent, stock of 1813, under the 
 act of May the 26th, 1824, and redeemable in 1833. 
 
 12. The sum of $2,227,363 98, at 4-|- per cent., being the other half sub- 
 scribed under the act last above stated, and redeemable in 1834. 
 
 13. The sum of $4,735,296 30,. at 5 per cent., being the amount of stock 
 issued under the act of March the 3d, 1821, and redeemable in 1835. 
 
 By the foregoing enumeration it appears that the amount of debt redeem- 
 able at the periods specified, is - $55,626,903 77 
 
 That the amount redeemable at the pleasure of the Gov- 
 ernment is ... 20,296,247 70 
 
 Making the total amount of the funded debt, on the 1st 
 of October, 1826 - $75,923,151 47 
 
 This amount will be reduced by a payment to be made on the 1st of Jan- 
 uary. 1827, so as to stand on that day at - $73,920,844 76 
 
 The amount of Treasury notes outstanding on the 1st of October, 1826, 
 is estimated (Mo. 4) at $15,040; and the amount of Mississippi stock unre- 
 deemed on that day, including awards not applied for, (No. 5,) at $7,400 17. 
 
 It will next be proper to state the operations that have been had in rela- 
 tion to the debt since the last annual report from this department. In that 
 report it was stated that the unpaid loans of 1813, bearing an interest of six 
 per cent., amounted to the sum of $16,270,797 24, the whole of which was 
 redeemable in 1826. It was thought to be incumbent upon the department 
 to recommend to the consideration of Congress such provision for paying 
 off this sum during the year 1826 as, in the judgment of the department, 
 gave promise of beingmost advantageous. The exhibition in detail of the en- 
 tire public debt, as contained above, serves to show that considerable sav ngs 
 in interest had heretofore accrued to the nation, by exchanges effected under 
 the authority of Congress, of stock bearing an interest of six per cent, for stock 
 bearing a lower interest ; or by loans under the same authority, fo the pur- 
 pose of paying off portions of the debt contracted at six per cent., when the 
 time for redemption had arrived, by the creation of new debt to the same 
 amount, subject to an interest of less than six per cent. Under the sanction 
 of past legislative approbation of this economical process in relation to the 
 debt, it was recommended that a loan should be authorized, for 1826, to the
 
 358 REPORTS OF THE [1826: 
 
 amount of nine millions of dollars, redeemable in 1829 and 1830, at a rate 
 of interest not exceeding five per cent., to extinguish this debt of sixteen 
 millions and upwards, bearing an interest of six per cent., which the Gov- 
 ernment was thus at liberty to extinguish in 1826, provided it had the 
 means. Nine millions, it was believed, would have formed a sum adequate 
 to this operation, in conjunction with the other means which it was supposed 
 the Treasury would probably have had at command for the service of 
 the debt in 182(3. There is reason to think, from the prices which the pub- 
 lic stocks bore in the course of the last winter, and subsequently to the win- 
 ter, that, had Congress sanctioned a loan to that amount, the efforts to obtain 
 it would not have proved unsuccessful, and the whole of the stock in ques- 
 tion have consequently been paid off. But as no loan was authorized, it 
 became the duty of the department to proceed otherwise,- in its measures for 
 extinguishing as large a portion of this six percent, stock, redeemable with- 
 in the year, as the means of the Treasury, without the aid of the loan, ren- 
 dered practicable. This was accordingly done in the manner following: 
 The stock consisted of the residue unpaid, amounting to $5,064,732 65, of 
 the loan of seven million five hundred thousand dollars, under the act of 
 the 2d of August, 1813 ; and of the residue unpaid, amounting to 
 $11,254,197 46, of the loan of sixteen millions, under the act of February 
 Sth, 1813. The former of these balances was wholly paid off, with the 
 moneys which the Treasury had at its disposal, on the 1st of last July. As 
 regards the latter, the commissioners of the sinking fund, at a meeting held 
 on the 27th September, resolved that two millions of dollars should be ap- 
 plied towards its reduction at the end of the present year. The holders of 
 this stock, to an amount representing two millions of dollars, have accord- 
 ingly had notice that on the 1st January, 1827, they will receive payment 
 of the whole of the principal sum specified in their certificates. By the 
 terms under which this loan of the Sth of February, 1813, was contracted, 
 it became redeemable at the pleasure of the United States, after the 31st of 
 December, 1825, by the reimbursement of the whole sum which stood credit- 
 ed to any proprietor of the stock at the time when the reimbursement took 
 place. It followed, that in paying off any portion of this loan, no partial 
 payments could be made to the holder of a certificate ; but that he was en- 
 titled to receive its full and absolute amount, without reduction, and also 
 the full amount of all other certificates of this particular stock of which he 
 was at the same time owner. It therefore became necessary, as no preference 
 could be shown to one public creditor over another, to determine by lot the 
 numbers of the certificates to be redeemed, until their aggregate amount 
 should represent the sum intended to be paid off; and such was the plan 
 pursued. The precise mode in which it was carried into effect will be 
 seen by an explanatory paper (L,) among the documents transmitted. This 
 resort to chance terminated in giving a small excess over the sum wanted ; 
 so that the sum to be paid off on the 1st of January amounts, in exact 
 figures, to $2,002,306 71. 
 
 It may be proper to mention that the unpaid six per cents of 1813 were 
 staled last year at $16,270.797 24, when the trueamount was $16,316,599 96. 
 The difference was included in the four and a half per cent, stock, under 
 the act of March the 3d, 1825, since ascertained to have belonged to the 
 stock of 1813. It should be further mentioned, that the three per cents 
 were stated last year at $1:5,296,231 45; to which have bean added, this 
 year, $16 25, since issued for interest on the old registered debt, under the 
 act of the 12th of June. 1798.
 
 t 1S26.J SECRETARY OF THE TREASURY. 359 
 
 After the proposed payment of $2,002.306 71 shall have been made on the 
 1st of January, the funded debt will have been reduced from $80,985.537 72, 
 its amount last year, to $73,920.844 76. the amount at which it wul stand 
 on the 1st of January, 1827. It hence appears, that the Cleans which the 
 Treasury was found to possess for the reduction of the principal of the debt 
 within the year 1826, using those means as largely as could be justified, and 
 as the commissioners of the sinking fund thought proper to sanction, 
 amounted to $7,067,039 36 ; and that this sum has served to extinguish, by 
 so much, the unpaid six per ceut. loans of 1813. amounting, as by state- 
 ment in the annual report of December last, to $16,270,797 24. The pay- 
 ment of interest upon the whole debt within the year will have amounted, 
 by the close of the last quarter, to ,$'3,944,359 33 ; making, iu the whole, 
 principal and interest, applied to the debt in 1826, $11,01 1,398 69. 
 
 Of the foregoing sum of $73,920,844 76, of which the debt will consist 
 on the 1st of January, 1827, $31,838,532 75 will be at an interest of six 
 per cent.; $12,792,000 20 at an interest of five per cent. ; $15,994,064 11 
 at an interest of four and a half per cent. ; and $13,296,247 70, the rem- 
 nant of the revolutionary debt, at an interest of three per cent. 
 
 It remains to offer such suggestions, connected with the debt for the year 
 ensuing, as a provident regard to the public resources is thought to point out. 
 It is seen from the recitals that have preceded, that much the largest part of 
 the debt exists at present in stock of six per cent. This is the highest rate 
 of interest which is paid by the Government: it is conceived to be higher 
 than it is proper should be paid, unless where demanded by the public faith. 
 The time and concomitant circumstances which characterized the creation 
 of this part of the debt, necessarily burdened it with so heavy a rate of in- 
 terest; but that, with the ample resources, the unquestioned security, and 
 the exalted credit of the Government, it should continue to pay it, where 
 the option concurs with the presumed ability to shake it off, seems no longer 
 warrantable. 
 
 Of the whole sum, approaching thirty-two millions of dollars, which 
 stands at this interest, nine millions have been redeemable within the pre- 
 sent year; thirteen millions will become redeemable on the 1st of January, 
 1827'; and nine millions on the 1st of January, 1828. Fractions are 
 dropped in the recapitulation. The advantage to the nation of converting 
 by loans, or by exchanges, as large a portion as possible of this part of the 
 debt, into debt that shall be charged with a lower interest, appears to be so 
 obvious, that the expediency of recommending to Congress the proper mea- 
 sures to effect it again suggests itself as an incumbent obligation upon the 
 department. It is not overlooked, that the probability of obtaining a loan 
 for this purpose diminishes, other things remaining equal, as we are brought 
 nearer to the time proposed for its redemption. But the prospect of obtain- 
 ing it is still believed to be sufficient to justify the endeavor. It is there- 
 fore respectfully recommended that authority be given by law, and at an 
 early period of the session, to borrow the sum of sixteen millions of dollars, 
 at a rate of interest not to exceed five per cent., to be redeemable at the 
 pleasure of the United States, in equal portions, in 1829 and 1830. These 
 years are fixed as the periods of redemption, for the reason that operated last 
 year; namely, that under the present arrangement of the entire debt only a 
 very small portion of it (less than one million of dollars) becomes redeem- 
 able in either of those years. Should such a loan succeed, it would pay oft 
 at once more than one-half of all the stock, at six per cent., thereby pro-
 
 360 REPORTS OF THE [1826. 
 
 ducing a clear saving to the nation of at least one per cent, on a capital of 
 sixteen millions of dollars for two years, and for a longer period on a 
 part of that capital. The residue of the six per cent, stock, amounting to 
 $15,838,532 75, would await the application of the disposable means of 
 the Treasury during the years 1827 and 1828. Whether those means would 
 prove sufficient for its complete reduction within those years, depends upon 
 events that cannot be accurately foreknown. All that can be remarked is, 
 that, to the full extent of the ability of the Treasury, the means would be 
 applied, and at the periods of time best adapted to the exigencies of the 
 public service, under the directions of the sinking fund act. and the lights 
 of past experience at the Treasury. If, nevertheless, a part of this residue 
 of the six per cent, stock should be found unextinguished on the arrival of 
 the year 1829, (as probably would be the case,) the obligation of paying it off 
 then would constitute neither objection nor inconvenience to the measure 
 of a loan upon the terms proposed. It is consequently believed that, under 
 all views of the subject, the measure would give promise of public advan- 
 tage. Such a law as is recommended being passed, and its execution confided 
 to the discretion of the Executive, that discretion would be exerted to in- 
 sure the accomplishment of its object, regarding both the time of obtaining 
 the loan, and its conditions, in a manner the most satisfactory. 
 
 III. ESTIMATE OF THE PUBLIC REVENUE AND EXPENDITURE FOR. 1827. 
 
 The importation of foreign articles into the United States, in 1825, was 
 larger than common, having amounted, as by the statements transmitted 
 to Congress on the 30th of last March, to more than ninety-six millions 
 of dollars in value. This exceeded by about sixteen millions of dollars 
 the average value of importations for the three years preceding. The ex- 
 cess was larger than could be justified by the mere gradually increasing de- 
 mand of the country, through its increasing populousness. lor foreign sup- 
 plies; and could only have proceeded from the influence of those accidental 
 and temporary causes which, in commercial countries, are always affecting 
 the operations of trade. A supply so redundant for one year might have 
 been expected, by the natural reflux of these operations, to be followed by 
 supplies more limited for the year succeeding. On this account, as well as 
 through other causes that were adverted to in the annual report of last De- 
 cember, the probability of there being a falling oft' in the value of the import- 
 ations of 1826, as compared with those of 1825, was intimated, and has 
 been the fact. The whole importations for Ib26have amounted, from the 
 returns and estimates at present before the Treasury,, to about eighty- five 
 millions of dollars in value. The whole of the exports for the same time 
 to about seventy-eight millions. Of the imports, about eighty millions have 
 been carried in American vessels ; and of the exports, about seventy millions. 
 Of the latter, about fifty-three millions consisted of the productions of the 
 United States, and the remainder of foreign productions. The diminished 
 value of importations for 1826 has obviously arisen, in some degree, from the 
 fall of prices in those countries of Europe from which the largest quantity 
 of manufactured articles are sent to the United States; and gives countenance 
 to the opinion that the decrease in quantity has not been in proportion to the 
 decrease in value. If. indeed, the comparative amount and value of exports 
 be assumed as the measure of a correct judgment upon this point, it would 
 even lead to the inference that, as regards some of the principal articles ot 
 importation into the United States for 1826, there has been no decrease in
 
 
 1S26.] SECRETARY OF THE TREASURY. 361 
 
 quantity, as compared with the importations of 1825- The value of exports 
 from the United States for 1825, exhibits a greater excess over those of 1826 
 than is seen in the imports ; yet, in some of the chief articles of export, the 
 records of the Treasury attest that the quantity, as far as yet known, was 
 greater in 1826. In 1825, the export of cotton was one hundred and seventy- 
 six millions of pounds. In 1826, it was one hundred and ninety-two 
 millions. The value of the latter, or larger quantity, was twenty-four mil- 
 lions of dollars. The value of the former, or smaller quantity, was thirty- 
 six millions. In like manner, the quantity of flour exported in 1826 was 
 greater than in 1825 ; whilst the value was less, though not in the same pro- 
 portion as with cotton. The same is true of rice. The export of flour in 1826, 
 was in quantity 858,360 barrels, in value 4,139,063 dollars. In 1825, it was 
 813.906 barrels, and in value 4,2 12.127 dollars. The export of rice in 1826 
 was 110.635 tierces in quantity, and 1,909,227 dollars in value. In 1825, it 
 was 97,015 tierces in quantity, and 1,925,243 dollars in value. It may be 
 proper to subjoin, that of the export of cotton in 1825, between nine and ten 
 millions of pounds were of the Sea Island cotton ; and of the export in 1 826, 
 between six and seven millions. Of tobacco, the quantity exported, as 
 well as its value, rose higher in 1825 than in 1826. -But in 1826 the export 
 of tobacco, though considerably less than that of 1824 in quantity, was 
 greater in value. The comparative amounts, in quantity and value, for the 
 three years, stand thus^ for 1825,75,984 hogsheads, and $6,115,623; for 
 1826, 59,780 hogsheads, and $5,322,964 ; for 1824. 77,883 hogsheads, and 
 4,885,566 dollars. Taking the three years, therefore, it appears that the 
 quantity exported was greatest in 1824. and the value least. 
 
 It would be desirable, with a view to judge accurately of the effects of the 
 tariff upon the importations of foreign merchandise, to ascertain the fluctua- 
 tions, from year to year, in the quantity of such importations. This cannot 
 be done, at present, so far as any official or satisfactory standard at the Trea- 
 sury is concerned. The returns of the collectors of the customs, in relation 
 to goods- which pay duty ad valorem, have hitherto fixed nothing but their 
 value ; and it is known that goods subject to duty under this form compre- 
 hend much the largest class of .foreign importations. Measures have been 
 put in train for ascertaining, henceforth, as far as practicable, the entire 
 quantity of goods subject to this description of duty, as well as the value. 
 But even when time shall have matured these measures, and exhibited their 
 results, they will furnish no standard of comparison as to the quantity of im- 
 portations prior to their adoption. The information will, however, become 
 useful after the lapse of a few years, in its bearing upon the course and devel- 
 opments of our home industry and foreign trade; showing how each, under 
 wise principles adapted to each, may advance co-equally ; how the channels 
 and the objects of the latter may shift under the advance of the former, with- 
 out any loss, but with gain, in effective national results results operating- 
 upon the most extensive interests, and enriching to the greatest mass of num- 
 bers ; or how, under the growth of the one, the other is at all destined to be- 
 come disadvantageously and lastingly abridged. The beneficial parts of 
 these consequences are looked to with confidence and hope from the tariff, 
 as well from our own experience, thus far, as from that of other nations of 
 the world distinguished by high degrees of opulence and civilization, and 
 where both have rested upon durable rather than transitory foundations 
 foundations that have been carefully laid in applying the home industry to 
 the multiplied operations of manufacturing art, no less than to the tillage of
 
 362 REPORTS OF THE [182G. 
 
 the soil, and in making the accumulated productions of both the basis of a 
 great foreign trade. But facts that may shed a distinct light upon the whole 
 subject should be sedulously collected, to serve, if need be, as the ground- 
 work to us of a more perfect system of legislation in relation to a course of 
 policy so closely interwoven with the interests and character of the social 
 state, and with the national prosperity and power. The foreign trade of the 
 United States, to its inherent causes for progressive extension, superadds 
 another and distinctive one, in the constant desire of the Government, 
 as manifested in their permanent laws, and emphatically in their recent 
 treaties, to carry it on freed from all restrictions upon navigation, as well 
 as upon the most enlarged principles, and the most entire reciprocity in 
 all other respects. If these principles, of which the United States have 
 largely set the example, were practised upon more universally by nations, 
 and to the extent uniformly proposed by this Government to their accept- 
 ance, the fact might be more important in its influence upon general trade, 
 and upon that of each nation in particular, than abstract declarations illus- 
 trative or commendatory of them. 
 
 The value of cotton goods subject to ad valorem duty, imported into the 
 United States in 1826, was, as far as at present ascertained, 8,905,316 dol- 
 lars; the value of the same description of goods imported in 1825, was 
 12,509,516 dollars. The value of woollen goods subject to ad valorem 
 duty, imported in 1826, was 7,445,493 dollars. The value of the same de- 
 scription of goods imported in 1825, was 1 1 ,392,264 dollars. But, as already 
 intimated, this difference in value cannot be relied upon, as a safe test of the dif- 
 ference in quantity. There are seasons when it would be peculiarly mislead- 
 ing, and the present is believed to be one of them. The duties on each descrip- 
 tion of these manufactures were calculated on the prices which each, respect- 
 ively, bore at the places of exportation during the respective years; and the 
 great fall in prices in 1826 will undoubtedly serve to account, in part, for 
 the difference in the aggregate' value of the two importations. Further 
 elucidation will be afforded to the point, when it is added, that, although the 
 value of cotton manufactures imported in 1826 stands below those imported 
 in 1825, in the proportion stated, it exceeds the value. of the same kind of 
 manufactures imported during either of the two years preceding, viz: 1824 
 and 1823. The same is not true of the woollen manufactures. The value 
 of the latter paying duty ad valorem, imported in 1826, is found, from the 
 returns as yet before the Treasury, to be below the value of the same kind 
 of importations for 1824 and 1823, though the difference is far less consid- 
 erable than between their value in 1826 and 1825; nor is it known at this 
 department what may have been the comparative value of woollen goods at 
 the places of exportation during the four consecutive years indicated. The 
 valuation of merchandise, constituting the total aggregage of our foreign 
 trade, is always made at the port or place of shipment ; and the rule applies, 
 consequently, both ways that is, to all articles of export as well as import ; 
 thereby freeing it from objections to which it might otherwise be open. The 
 mode of valuing is, in effect, as follows: the party making the shipment 
 annexes the value to the manifest or list of articles, superadding his oath 
 that it is the true value, according to their actual cost, or according to the 
 value which they truly bear at the port and time of shipment. This oath is 
 taken under the supervision of the collectors, as regards exports; and under 
 that of our consuls, or other commercial or substituted agency abroad, as 
 regards imports. Some other formalities are observed under our laws, par-
 
 1826.] SECRETARY OF THE TREASURY. 363 
 
 ticularly in relation to imports; but they are all in aid of the chief provision 
 here stated. 
 
 The articles of American manufacture exported from the United States 
 in 1826 will, it is believed, be found to exceed six millions of dollars in 
 value. The particular kinds of manufacture which have made up this 
 profitable and growing branch of the export trade will be presented in de- 
 tail, and their total value ascertained with more precision, in the general 
 statistical tables now in course of preparation, under the act of the 10th of 
 February, 1 820, which will be transmitted to Congress at as early a day as 
 their voluminous nature will allow. Of the amount of American manu- 
 factures produced for consumption within the United States during the 
 year, it is impossible to speak with exactness; but, from indications that 
 cannot deceive, it is evident that it is large; so large that the amount ex- 
 ported would sink to a level below all comparison with it. The surest 
 guide to our belief under this head is, that in those branches which have 
 at length been enabled, through a provident legislation, to stand up against 
 that overwhelming competition of pre-established excellence and capital 
 from abroad, which must otherwise have kept down forever their first at- 
 tempts, the article can now be had cheaper in price, as well as better in 
 quality, than the same article from abroad, as it was seen in our markets 
 prior to the efficient protection afforded to our own. Hence the apprehen- 
 sions of monopoly pass away. Hence the certainty that competition at 
 home will bring down prices eventually, if not immediately, whilst it cre- 
 ates and diffuses new wealth at home: labor being the foundation of wealth, 
 and producing and disseminating it more universally, and in higher de- 
 grees, in proportion as it exists under diversified forms and in full activity. 
 
 It is then that the farmer, the artisan, and the merchant give support to 
 each other, each enlarging the occupations and the gains of each ; the State, 
 meanwhile, reaping the fruits in fiscal prosperity and political power. 
 
 As regards the cotton manufactories of the country, there are grounds 
 for supposing that they now make a call for full one-fourth part of all the 
 raw cotton grown in the United States. Authentic information as to the 
 exact quantity is not, indeed, possessed at the Treasury; but, as an approxi- 
 mation, it is believed that the above proportion may be taken, without the 
 hazard of essential error. It is gratifying to add, that those parts of the 
 United States where manufacturing establishments of all kinds flourish 
 most, exhibit an animated industry, an orderly aspect, and an increasing 
 population. Towns and villages are seen rapidly to rise up in such dis- 
 tricts; in resorting to which, the rural population of the vicinity find ready 
 and profitable sales for the various productions of farming enterprise and 
 labor. It is believed, that as these establishments shall rear themselves up, 
 under adequate encouragement in augmented numbers and importance, a 
 corresponding activity in foreign trade will become their concomitant in the 
 same portions of country; since, besides the trade in exports, to which, af- 
 ter supplying to their full share the home demand, they open the way, and 
 which will not fail to bring its proper returns on the broad scale of exchanges, 
 the very existence of manufactures, as they assume great variety and 
 reach perfection, superinduces the necessity of constantly bringing into the 
 country new varieties of ingredients as subsidiary to them. So wide, so 
 full of dependance upon all other kinds of labor, not only of our own, but 
 of other regions, is this great department of national industry. So certainly 
 doits, multifarious and beneficial operations in large, refined, and busy com-
 
 364 REPORTS OF THE [1826. 
 
 munities, perpetually react upon all the other departments ; so quick are the 
 alternations of consumption and supply, and over so great a surface of 
 things do both spread themselves, in such communities. It cannot escape 
 attention, that the portions of our country for the most part answering to 
 these remarks, or to some of them, are not favored, or favored in but a 
 slight degree, with the capacity of producing those immense and exhaust- 
 less treasures of the soil spoken of in this paper. For the absence of them, 
 their inhabitants in part seek compensation in pursuing artificial modes 
 and combinations of industry, which take these treasures as a substratum; 
 by which the great scheme of national advancement is to be seen in its 
 true component parts in our Union parts naturally destined to make up one 
 systematic whole, where the plough, the loom, and the ship, will each have 
 its appropriate sphere in raising to a proper elevation the entire fabric of 
 our social and public prosperity, in carrying to the highest attainable pitch 
 our riches, our happiness, bur power. A policy short of this belongs not 
 to a free and intelligent people, surrounded by the bounty of Providence 
 with varieties of climate and territory, fostering inclinations and aptitudes 
 for variety in human employments, by an exuberance of mineral and fossil, 
 no less than of agricultural wealth ; by vast waters flowing through this ter- 
 ritory, that serve as natural highways, and supply the fund for artificial 
 ones ; affording pre-eminently, in connexion with that mighty agent in na- 
 vigation as in mechanics, the steam-power, the means and inducements for 
 a universal and rapid transfer of the products of labor from hand to hand, 
 whether they consist of commodities of useful and ingenious workmanship 
 from the repositories of art, or of harvests from the fields of nature; by all 
 the elements and attributes, in fine, geographical, political, and moral, of a 
 great empire. The foundations of such a policy once securely laid in that 
 legislative assistance to our manufactures, without which they must strug- 
 gle in vain against those of other countries long and thoroughly establish- 
 ed an advantage not inherent but adventitious, yet an overpowering ad- 
 vantage, and as already proved in some articles of national importance to 
 which we have afforded efficient protection we shall have nothing to fear 
 for the future. Then, and only then, shall we be raised up to a level, in 
 this respect, with other countries. Then, and only then, shall we stand in a 
 position of equality to listen to doctrines, right enough it may be in them- 
 selves, but of which others have never accorded us the benefit, or thought 
 of holding up as doctrines for reciprocal practice, even with numerous safe- 
 guards and reservations, until their own manufactures, in all branches 
 that conduced to national resources and power, had acquired, through ages 
 of experience, of capital, and of skill, a stability not to be shaken. 
 
 A resolution passed the House of Representatives, in May, directing the 
 Secretary of the Treasury to cause to be prepared a well-digested manual, 
 containing the best practical information that could be collected on the 
 growth and manufacture of silk, adapted to the different parts of the Union; 
 containing, also, such facts and observations in relation to the growth and 
 manufacture of silk in other countries, as might be useful ; and that the same 
 should be laid before Congress at the commencement of their present ses- 
 sion. Steps were taken, without loss of time, to obtain the information con- 
 templated by the resolution, as well from all parts of this country as from 
 Europe. But, from the scope which the subject was found to assume, all 
 the information expected under inquiries that have been instituted has not 
 yet got to hand; nor will it now be practicable to have it digested and 
 arranged, even should it all be received by the time designated. The re-
 
 1826.J SECRETARY OF THE TREASURY. 365 
 
 solution will continue to command every attention, and be finally acted upon 
 as soon as may be compatible with the accomplishment of its interesting ob- 
 jects. A branch of industry that may be turned to so many purposes, use- 
 ful and ornamental; and which ministers to the wealth of nations with so 
 little cost in the material on which it is originally founded, as well as in the 
 species of labor that is applied to it, naturally merited, as it has received, all 
 the attention which the terms and spirit of the above resolution bespeak. 
 
 The value of importations for the year giving the basis of the impost 
 revenue rather than their quantity, it follows that, as the value of those for 
 1826 has fallen below the value of those for 1S25, so will also the revenue 
 from this source be less. The amount of duties secured by bonds on mer- 
 chandise imported during the first three quarters of the present year is esti- 
 mated at 21.250.000 dollars : the amount that will probably accrue during 
 the last quarter is estimated at about 4,250.000 dollars ; making for the 
 whole year $25,500,000. The languid state of the tea trade for 1826 a trade 
 always so productive in revenue when it flourishes has lent its aid, in con- 
 junction with the fall of prices abroad, in diminishing the accruing amount 
 from the customs during the year. Some revival of this valuable trade 
 valuable under fiscal and commercial views, and, from its tendency to en- 
 courage more largely the taste for an innocent and wholesome drink, in 
 place of those that are neither, valuable even under moral views may per- 
 haps be anticipated in 1827. It may also be presumed that the extensive 
 depression of prices witnessed in Europe in 1826 will not have place upon 
 a similar scale in 1827. Nevertheless, with the causes, little likely in their 
 combination at least to be marked by speedy repetition, that have operated 
 to lower the accruing revenue from the customs for the current year below 
 that of the year preceding, there is every reason for supposing that it will 
 exceed the revenue arising from this source during any one of the four years 
 that immediately preceded 1825 ; and even go beyond the amount received 
 in that year, though not the amount that accrued in that year. This fact 
 will be entitled to its proper weight, in determining to what extent the 
 regulations of the present tariff are likely to bring injurious inroads upon 
 the commercial revenue of the nation. 
 
 The debenture bonds issued for drawbacks during the first three quarters 
 of the present year, amounted to the sum of $3,840,869 10. This is less by 
 8648,841 19 than those issued during the corresponding period of 1825. 
 The amount of those outstanding on the 30th of September last, and charge- 
 able upon the' revenue of the next year, was $1,294,310 94, which is less 
 by $564.004 70 than was chargeable on the same day in 1825 upon the 
 revenue of 1826. The deduction in the shape of drawbacks from the accru- 
 ing revenue of 1826 will therefore, perhaps, exceed five millions of dollars. 
 
 The amount of duty bonds in suit on the 30th of September was 
 $4,007,882 76. This is a large sum ; exceeding by $1,020.535 54 the 
 sum that was in suit on the same day in the year preceding. The excess 
 is in a great degree to be accounted for by the fraudulent transactions in one 
 or two of the principal cities of the United States in relation to imported teas. 
 
 Whilst the impost revenue receivable next year will be less than that 
 which accrued in tS25, and has been received, or is still to be received in 
 1826, the public lands promise to yield next year more than they have this. 
 The probability of increased productiveness in this branch of revenue rests 
 on the following grounds : 1st. The act of the last session making "provi- 
 sion for the extinguishment of the debt to the United States by the pur-
 
 366 REPORTS OF THE [1826. 
 
 chasers of public lands." has arrested almost entirely, for the present year, 
 the'payments for lands sold on credit, That law will, however, expire 'next 
 July, and the payments under it will be thrown upon the year 1827. 2d. 
 A considerable quantity of the lands relinquished to the United States will, 
 it is expected, be brought into market in the course of the next year ; amongst 
 others, those at Huntsville, which are valuable, being dispersed through a 
 fertile country, occupied by a thriving population. It is believed that they 
 will sell promptly, and at good prices. 3d. A large portion of the best of 
 the public lands in Florida will be offered for sale in 1827. It is understood 
 that these lands are in demand, and anticipated that they will sell well. On 
 these and other grounds, it is thought, at present, that the revenue from the 
 sale of public lands in 1827 will not be over-estimated} when it is setfdown 
 at two millions of dollars. The state of the land office, generally, will be 
 seen by a report from the officer at ihe head of that establishment, which 
 accompanied the President's message to Congress at the opening of the ses- 
 sion, and will, it is hoped, be found satisfactory. 
 
 From the foregoing facts and considerations affecting the customs and the 
 public lands, it is believed that the whole revenue of the United States for 
 1827, from these and other less important sources, may be estimated at up- 
 wards of twenty-three millions of dollars ; and that it will arise thus : 
 From customs $20,400,000 
 
 From public lands - 2,000.000 
 
 From bank dividends 420,000 
 
 From miscellaneous and incidental receipts 330,000 
 
 $23,150,000 
 
 The expenditures for 1827 are estimated as follows, viz : 
 Civil, miscellaneous, and diplomatic - $1.826,549 54 
 
 Military service, including fortifications, ordnance, Indian 
 department, revolutionary and military pensions, arming the 
 militia, and arrearages prior to the 1st of January, 1817, 5,646,144 36 
 Naval service - - 3,230,269 23 
 
 Public debt - 10,000,000 00 
 
 Which will leave in the Treasury on the 31st of December, 1827, after 
 satisfying all the demands of that year, on the basis of the foregoing calcula- 
 tions, a surplus estimated at $2,447,045 87. This surplus will be a dis- 
 posable surplus, over and above the sum before stated as not in effective funds, 
 and of the two millions of dollars to be reserved in the Treasury under the 
 sinking fund act of March 3d. 1817. 
 
 In the estimate of expenditures for 1827, the annual appropriation of 
 500,000 dollars for the gradual increase of the navy, under the act of the 
 3d of March, 1821, has not been inserted, that appropriation expiring with 
 the present year. Whatever renewed sum the wisdom of Congress may 
 set apart for this effective arm of the public defence, will add another item to 
 the list of expenditures for the year, and lessen by so much the estimated 
 balance at its expiration. 
 
 All which is respectfully submitted. 
 
 RICHARD RUSH. 
 
 TREASURY DEPARTMENT, December 12, 1826.
 
 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
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 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
 360 
 
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 CO
 
 REPORTS OF THE 
 E. 
 
 [1826. 
 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, during the year 1825. 
 
 From arrears of new internal revenue " -" $25,771 35 
 
 arrears of new direct tax 2,330 85 
 
 fees on letters patent 8,940 00 
 
 cents coined at the mint 19,496 25 
 
 postage of letters - 469 56 
 
 fines, penalties, and forfeitures 3,411 06 
 
 sales of public lots in the city of Washington 1 ; 572 38 
 
 surplus emoluments of officers of the customs 26,960 06 
 consular receipts, under the 2d section of the act of 
 
 14th April, 1792 ,;' 2,292 10 
 
 trading establishments with the Indians 10,020 80 
 nett proceeds of vessels and cargoes condemned under 
 
 the acts prohibiting the slave trade 4,473 57 
 
 nett proceeds' of vessels captured from the pirates 325 13 
 
 rent of the naval hospital farm, Chelsea - 267 45 
 interest on balances due by banks to the United 
 
 States 5,792 42 
 Bank of Tennessee, for premiums on drafts for 
 moneys belonging to the United States, and de- 
 posited with said bank - 190 38 
 interest on notes given for the purchase of the 
 
 Northumberland house estate '- 27487 
 
 annuities to Christian Indians on the river Thames 1,474 98 
 moneys previously advanced on account of second 
 
 census 71 48 
 moneys previously advanced for ascertaining, land 
 
 titles in Louisiana 500 00 
 
 dividends on stock in the Bank of the United States 367,500 00 
 
 '482,134 69 
 Balances of advances made in the War Department, repaid 
 
 under the 3d section of the act of the 1st May, 1820 - 43,919 32 
 Loan of five millions at 4^ per cent., per act of 26th May, 
 
 1826 - - .?>. - 5,000,000 00 
 
 *"-. . j . &. ' 
 
 ^ .$.-,. J ~6/R-v?N?5fl 
 
 i - 
 
 5,526,054 01 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1826. 
 
 JOSEPH NOURSE, Register.
 
 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
 ,'>: F. 
 
 #7/1 TEMENT of the expenditures of the United Slates, for the 
 
 year 1825. 
 
 '-... ' .- '- " " <ftf:jtfdJsL' 311 
 
 CIVIL) MISCELLANEOUS. AND DIPLOMATIC, VIZ : 
 
 Legislature - - $563,100 
 
 Executive - 478^330 
 
 Officers of the mint - 9,600 
 
 Surveying department 20,795 
 
 Commissioner of the Public Buildings' 1,500 
 Governments in the Territories of the United 
 
 States '; ; -' - 33,421 
 
 Judiciary '.- ' . - - 223.999 
 
 48 
 58 
 00 
 34 
 00 
 
 71 
 13 
 
 Annuities and grants 
 
 Grant to General Lafayette - 
 
 Mint establishment - . r . 
 
 Unclaimed merchandise 
 
 Light-house establishment 
 
 Surveys of public lands 
 
 Registers and receivers of land offices 
 
 Western boundary line of Arkansas Territory 
 
 Boundary lines between Missouri and Arkansas 
 
 Preservation of the public archives in Florida 
 
 Land claims in Florida Territory . 
 
 Land claims in St. Helena land District 
 
 Roads within the State of Ohio , - 
 
 Roads within the State of Indiana 
 
 Roads and canals within the State of Alabama 
 
 Roads and canals within the State of Missouri 
 
 Roads and canals within the State of Mississippi 
 
 Encouragement of learning within the State 
 
 of Illinois 
 Repayment for lands erroneously sold by the 
 
 United States 
 Purchase of lands reserved to certain Creek 
 
 Indians - 
 
 Marine hospital establishment 
 Public buildings in Washington 
 Accommodation of the President's household 
 Bringing the votes for President and Vice 
 
 President of the United States 
 Consular receipts under the act of 14th April, 
 
 1792 
 
 Payment of certain certificates 
 Payment of balances due to officers of the old 
 
 internal revenue and direct tax 
 Payment of balances to collectors of new inter- 
 nal duties - - - 
 
 2,100 
 
 200,000 
 
 19,651 
 
 369 
 
 183,864 
 
 133,928 
 
 1,375 
 
 3,000 
 
 1,500 
 
 750 
 
 8,144 
 
 3,562 
 
 9,197 
 
 10,798 
 
 10,753 
 
 4,990 
 
 15,780 
 
 00 
 00 
 64 
 05 
 64 
 83 
 00 
 00 
 00 
 00 
 35 
 50 
 27 
 09 
 66 
 55 
 26 
 
 ill* 
 $1,330,747 24 
 
 800 
 54,938 
 82,000 
 14,000 
 
 6,169 50 
 
 2,292 
 83 
 
 2,184 
 1,746 
 
 10 
 
 01 

 
 372 
 
 REPORTS OF THE 
 
 Payment of claims for property lost - $143 00 
 Stock in the Chesapeake and Delaware Canal 
 
 Company - 192,500 00 
 
 Miscellaneous expenses _ - 73,16482 
 
 Diplomatic department 159,603 82 
 
 Contingent expenses of foreign intercourse - 25.474 95 
 
 Relief and protection of American seamen - 33,536 17 
 
 Treaty with Spain - 1,12500 
 
 Treaty of Ghent, (6th and 7th articles) - 12,583 13 
 
 Treaty of Ghent, (1st article) . - - 12,000 00 
 
 Prize causes - 8,000 00 
 Payment of claims under the 9th article of the 
 
 treaty with Spain - ( - ^. 19,358 37 
 
 Claims on Spain - ' 73,876 14 
 Treaties with Mediterranean powers -- 26.108 67 
 
 [1826. 
 
 $1,046,131 40 
 
 MILITARY ESTABLISHMENT, VIZI 
 
 Pay of the army - - - $946,043 34 
 
 Subsistence - 283,700 25 
 
 Quartermaster's department - 268,709 34 
 
 Purchasing department - 205,400 13 
 
 Bounties and premiums - -21,278 60 
 
 Forage - 36,827 62 
 
 Expenses of recruiting 8,254 18 
 
 Medical department "-...22,54941 
 
 Purchase of woollens for 1826 '.-".20,00000 
 
 Medals for officers - 805 00 
 
 Relief of officers, &c., Seminole campaign - 2.81819 
 
 Ransom of American captives - 540 00 
 Balances due to certain States on account of 
 
 militia 6,610 56 
 Payment of interest due to the State of Virginia 178,480 11 
 
 Payment for property lost, &c. 40 00 
 
 Armories - 359,134 52 
 
 National armory, western waters 3,479 88 
 
 Arsenals - - 22,399 92 
 
 Arsenal on the Schuylkill - 8,000 00 
 
 Ordnance - >,[..' 47,241 29 
 
 Powder, cannon, shot, shells, &c. - ii;.*u.. 209 32 
 
 Arming and equipping the militia - - 167,338 77 
 
 Military Academy, West Point - 12,763 56 
 
 Fortifications - . 4,886 70 
 
 Repairs and contingencies of fortifications - 20,72791 
 
 Armament of new fortifications , g*Jj'lo '-i-^ii\ 4,800 00 
 
 Fort Monroe ^ 99,84848 
 
 Fort Calhoui - , 71,901 67 
 
 Fort Washington > ^. - 0* , - , 1,99295 
 
 371,666 25 
 
 2,748,544 89
 
 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
 373 
 
 Fort Delaware 
 
 Fort Jackson 
 
 Fort at Mobile Point 
 
 Fort at New Utrecht Point - 
 
 Fort at Brenton's Point 
 
 Fort at Rigolets and Chef Menteur - 
 
 Fort at Beaufort. North Carolina 
 
 Fort at Cape Fear - 
 
 Materials for a fort opposite Fort St. Philip - 
 
 Deepening the harbor of Presque Isje ' 
 
 Preservation of islands in .Boston harbor 
 
 Repairs of Plymouth beach 
 
 Survey of Marblehead and Holmes's Hole - 
 
 Improving the Ohio and Mississippi rivers - 
 
 Survey, &c., of roads and canals 
 
 Continuation of the Cumberland road 
 
 Road from Ohio to Detroit - 
 
 Road from Detroit to Chicago 
 
 Road from Memphis to Little Rock - 
 
 Road from Cape Sable to Suwanee river 
 
 Road from Pensacola to St. Augustine 
 
 Road from Colerain to Tampa bay - 
 
 Road from Missouri to New Mexico 
 
 Revolutionary pensions 
 
 Relief of sundry individuals 
 
 Contingencies 
 
 Arrearages - 
 
 Civilization of Indians ***-* 
 
 Pay of Indian agents ,-* 
 
 Pay of sub-agenls - 
 
 Presents to Indians 
 
 Contingencies of Indian department * rt * 
 
 Military escort, per act of May 25, 1824 - 
 
 Compensation to citizens of Georgia 
 
 Creek treaty, per act of March 3, 1825 
 
 Treaties with Indians beyond the Mississippi 
 
 Treaty with Florida Indians 
 
 Treaties with Sioux, Chippewas, &c. 
 
 Choctaw treaty 
 
 Expenses of Choctaw treaty 
 
 Choctaw claims 
 
 Claims against the Osages - 
 
 Annuities to Indians - 
 
 From which deduct the following repay- 
 ments : 
 
 Invalid and half-pay pensions $67,879 76 
 Gratuities , - 85 37 
 
 Purchase of Quapaw lands -#' 226 09 
 
 $53,180 47 
 136,543 11 
 
 141,262 22 
 
 56,799 32 
 
 44,477 28 
 
 105,472 18 
 
 1.000 00 
 
 17,000 00 
 
 307 38 
 
 11.420 19 
 
 10,907 29 
 
 5.712 00 
 
 400 00 
 
 11,244 23 
 
 37,243 57 
 
 35.850 00 
 
 5',255 00 
 
 3,000 00 
 
 3,325 82 
 
 2,072 15 
 
 10,931 00 
 
 6,000 00 
 
 15,000 00 
 
 1,308,810 57 
 
 140,000 30 
 
 17,816 76 
 
 29,877 35 
 
 13.545 41 
 
 37,690 16 
 
 17,077 73 
 
 16,761 19 
 
 76,058 42 
 
 500 00 
 
 23.000 00 
 
 -229,036 60 
 
 6.900 43 
 
 36,425 57 
 
 10,400 00 
 
 8,748 72 
 
 9,723 44 
 
 16,972 50 
 
 2,748 00 
 
 218,744 36 
 
 5.761,022 41 
 
 
 
 
 68,191 22 
 
 
 $5,692,831 19
 
 374 
 
 REPORTS OF THE 
 
 
 [1826. 
 
 NAVAL ESTABLISHMENT, VIZI 
 
 Pay of the navy afloat 
 
 Pay of the navy shore stations 
 
 Provisions - 
 
 Medicines and hospital stores 
 
 Repairs of vessels - 
 
 Navy yards, docks, and wharves 
 
 Navy yard, Portsmouth 
 
 Navy yard, Charlestown. 
 
 Navy yard. New York 
 
 Navy yard, Philadelphia 
 
 Navy yard, Washington 
 
 Navy yard, Norfolk 
 
 Navy yard, Pensacola 
 
 Gradual increase of the navy 
 
 Building ten sloops of war - 
 
 Houses for ships in ordinary 
 
 Inclined plane dock, &c. 
 
 Prohibition of the slave trade 
 
 Suppression of piracy 
 
 Survey of the coast of Florida 
 
 Survey of Charleston and St. Mary's ', 
 
 Captors of Algerine vessels - 
 
 Relief of sundry individuals 
 
 Contingent expenses prior to 1824 - 
 
 Contingent expenses for 1824 
 
 Contingent expenses, not enumerated, for 
 
 1824 
 Contingent expenses, not enumerated, for 
 
 1825 ~. : 
 
 Contingent expenses,, not enumerated, for 
 
 1825 -;V.^i. ' 
 
 Pay and subsistence of the marine corps 
 Clothing of the marine corps- 
 Medicines for the marine corps, 
 Military stores for the marine- corps 
 Fuel for the marine corps - 
 Repairing barracks of the marine corps 
 Contingent expenses of the marine corps 
 Contingent arrearages of the marine corps - 
 
 - $836,052 
 
 - 285,671 
 
 - 391.531 
 
 - 36',51l 
 
 - 388,164 
 
 19,789 
 1,783 
 
 - 20,000 
 
 - 41,901 
 
 - 11,509 
 , 22.497 
 
 15,936 
 2,000 
 
 - 338,445 
 138,802 
 
 - 15,674 
 . 3,716 
 
 - 14,637 
 
 8,474 
 
 -~ 73 
 . 1,898 
 182 
 
 - 12,917 
 
 709 
 
 - 44.273 
 
 48 
 26 
 97 
 51 
 78 
 58 
 84 
 00 
 42 
 74 
 09 
 12 
 00 
 55 
 29 
 74 
 50 
 21 
 90 
 61 
 78 
 38 
 00 
 81 
 48 
 
 1,767 21 
 199,765 43 
 
 From which deduct the following" repay- 
 ments : 
 
 Ordnance and ordnance stores - $27 64 
 Laborers, and fuel for engine - 3,005 66 
 Superintendents, artificers, &c. .- 13,868 10 
 Tools burnt at the navy yard at 
 
 Washington 31 06 
 
 3,780 50 , 
 149,295 84 
 28,286 26 
 2,369 71 
 1,363 78 
 7,506 95 
 368 19 
 13,356 41 
 5,000 00 
 
 3,066,016 32 
 
 
 16,932 46
 
 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
 375 
 
 PUBLIC DEBT, VIZ: 
 
 Interest on the funded debt "- - $4,306,75740 
 
 Redemption of 6 per cent, stock of 1812 6,187,006 84 
 Redemption of Treasury note 6 per cent. 
 
 stock - - 1,479,374 82 
 Redemption of exchanged 6 per cent, stock 
 
 of 1812 . 56,539 30 
 
 Reimbursement of Mississippi stock 1,524 02 
 
 Principal and interest of Treasury notes 2,001 49 
 
 Paying certain parts of domestic debt - 15 31 
 
 Redemption of 7 per cent, stock of 1815 2,125 60 
 
 12,095,344 78 
 
 $23,585,804 72 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1826. ; 
 
 JOSEPH NOURSE, Register. 
 
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 376 
 
 REPORTS OF THE 
 
 [1826. 
 
 G. 
 
 lived f 
 
 LANDS sold, and motleys received for lands, from 1st January, 1826 ? 
 
 to 30th June, 1826.. 
 
 
 
 Amor.nt received. 
 
 
 
 
 Lands sold 
 
 
 
 
 
 from Jan. 1 
 
 
 
 
 Incidental 
 
 Payments 
 
 Offices. 
 
 to June 30, 
 1826. 
 
 Amount re- 
 ceived for 
 
 Amount 
 received 
 
 Total 
 amount re- 
 
 expenses, 
 including 
 
 made into 
 the Treas- 
 
 
 
 lands sold 
 
 for lands 
 
 ceived in the 
 
 salaries & 
 
 ury. 
 
 
 
 in the first 
 
 sold prior 
 
 first two 
 
 commis- 
 
 
 
 
 two quarters 
 
 to July, 
 
 quarters of 
 
 sions. 
 
 
 
 Acres. 
 
 of 1826. 
 
 1820. 
 
 1826. 
 
 
 
 Steubenville 
 
 13,035.65 
 
 $16,294 54 
 
 $530 37 
 
 $16.824 91 
 
 $1,772 84 
 
 S3, 704 85 
 
 Marietta 
 
 7,577.84 
 
 9,472 27 
 
 182 29 
 
 9^54 56 
 
 938 02 
 
 9,542 47 
 
 Cincinnati 
 
 5,032.28 
 
 - 6,290 35 
 
 2,584 90 
 
 8,875 25 
 
 717 93 
 
 12,364 80 
 
 Chillicotlie 
 
 8,173,58 
 
 10,518 26 
 
 1,710 98 
 
 12,229 24 
 
 831 02 
 
 11,068 17 
 
 Sanesville 
 
 16,000.21 
 
 19,966 33 
 
 765 01 
 
 20,731 34 
 
 1,001 44 
 
 21,832 32 
 
 Wooster 
 
 8,234.67 
 
 10, -293 27 
 
 1,058 45 
 
 11,351 72 
 
 729 24 
 
 9,920 46 
 
 Piqua 
 
 293.71 
 
 36713 
 
 
 367 13 
 
 .608 75 
 
 
 Delaware 
 
 9,031.53 
 
 11,289 40 
 
 
 11,289 40 
 
 540 00 
 
 9,860 70 
 
 Jeffersonville 
 
 '4,142.88 
 
 5,178 60 
 
 399 30 
 
 5,577 90 
 
 795 86 
 
 4,692 00 
 
 Vincennes 
 
 6,761.71 
 
 8,452 10 
 
 223 42 
 
 ^8-, 675 52 
 
 736 75 
 
 150 00 
 
 Brookville 
 
 22,640.02 
 
 28,299 96 
 
 
 28,299 96 
 
 1,074 93 
 
 18,792 02 
 
 Crawfordsville - 
 
 36,445.98 
 
 45,557 58 
 
 
 45,557 58 
 
 1,375 64 
 
 85,649 39 
 
 Fort Wayne 
 
 ,1,034.15 
 
 1,292 65 
 
 
 1.392 65 
 
 632 76 
 
 3,630 04 
 
 Kaskaskia 
 
 947.53 
 
 1,184 41 
 
 
 1,184 41 
 
 517 38 
 
 
 Shawneetown - 
 
 J, 397. 77 
 
 1,747 22 
 
 2741 
 
 1,774 63 
 
 522 97 
 
 .. ' . 
 
 Edwardsville 
 
 2,393.01 
 
 2,991 27 
 
 
 . 2,991 27 
 
 689 51 
 
 
 Vandal ia 
 
 548 22 
 
 685 27 
 
 
 685 27 
 
 633 17 
 
 
 Palestine 
 
 7,089,97 
 
 8,862 45 
 
 
 8,862 45 
 
 791 01 
 
 9,629 15 
 
 Springfield 
 
 11,001.34 
 
 13,751 66 
 
 
 13,751 66 
 
 1,396 42 
 
 32,547 21 
 
 Detroit - 
 
 23,677.30 
 
 29,596 73 
 
 
 29,596 73" 
 
 2,367 83 
 
 32,830 69 
 
 Monroe - 
 
 6,662.22 
 
 8,349 40 
 
 
 8,349 40 
 
 887 35 
 
 11,143 23 
 
 St. Louis 
 
 6,089.75 
 
 7,612 06 
 
 
 7., 612 06 
 
 978 06 
 
 13,859 49 
 
 Palmyra 
 
 4,081.31 
 
 5,101 64 
 
 - 
 
 5,101 64 
 
 778 60 
 
 10,340 57 
 
 Franklin 
 
 10,652.03 
 
 13,315 03 
 
 73 65- 
 
 13,388 68 
 
 571 68 
 
 1,234 09 
 
 Cape Girardeau 
 
 1,997.60 
 
 2,497 21 
 
 _ 
 
 2,497 21 
 
 810 15 
 
 8 25 
 
 Lexington 
 
 
 _ 
 
 j, 
 
 
 500 00 
 
 , 
 
 Bates ville 
 
 1,291.66 
 
 1,614 56 
 
 
 1,614 56 
 
 776 15 
 
 350 00 
 
 Little Rock 
 
 413.43 
 
 516 78 
 
 
 516 78 
 
 525 91 
 
 
 Onachita 
 
 399.97 
 
 499 96 
 
 
 499 96 
 
 899 95 
 
 
 Opelousas 
 
 _ 
 
 
 510 34 
 
 510 34 
 
 510 06 
 
 4,500 00 
 
 New Orleans - 
 
 597.09 
 
 746 37 
 
 _ 
 
 746 37 
 
 . 505 97 
 
 1,768 44 
 
 St. Helena c.h. - 
 
 
 
 
 
 500 00 
 
 
 Washington 
 
 3,545.52 
 
 4,431 88 
 
 563 41 
 
 4,995 29 
 
 2,097 00 
 
 3,000 00 
 
 Jackson c. h. 
 
 555.61 
 
 694 55 
 
 v _ 
 
 694 55 
 
 758 58, 
 
 
 Choctaw district 
 
 33,296.86 
 
 51,971 60 
 
 
 '51,971 60 
 
 1,805 81 
 
 69,055 74 
 
 St. Stephen's 
 
 13,330.12 
 
 16,662 86 
 
 57 68 
 
 16,7-20 54: 
 
 784 81 
 
 8,000 00 
 
 Huntsville 
 
 4,671.40 
 
 5,839 22 
 
 946 27 
 
 6,785 49 
 
 1,601 14 
 
 73,011 04 
 
 Tuscaloosa 
 
 71,251.15 
 
 132,646 72 
 
 
 132,646 72 
 
 3,503 41 
 
 134,827 00 
 
 Sparta - 
 
 882.28 
 
 1,102 85 
 
 _ 
 
 1,102 85 
 
 376 26 
 
 6,414 00 
 
 Cahaba* 
 
 12,792.42 
 
 15,990 91 
 
 
 15,990 91 
 
 709 00 
 
 164,633 16 
 
 Tallahassee 
 
 7,950.00 
 
 9,948 75 
 
 - 
 
 9,948 75 
 
 1 ,466 86 
 
 
 
 365,919.77 
 
 511,633 80 
 
 9,633 48 
 
 521,267 28 
 
 40,020 22 
 
 768,359 28 
 
 The amount of payments made into the Treasury, on account of public lands, 
 
 in the quarter ending 30th September, 1826, is - -' ' - - 8285,60201 
 
 As above, to the 30th June, 1826 - - - - - - - 768,35928 
 
 * The Cahaba accounts have only been received to 31sl March,. 1826. 
 TREASURY DEPARTMENT, 
 
 General Land Office, October 30, 1826. 
 
 GEO. GRAHAM; Commissioner
 
 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
 H: 
 
 ' *'*." **" * * S ^ * ' 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, from the 1st January to the 
 30th September, 1826. 
 
 From arrears of new internal revenue - 
 new direct tax 
 old direct tax - 
 fees on letters patent 
 cents coined at the mint - 
 fines, penalties, and forfeitures 
 surplus emoluments of officers of the customs 
 trading estalishments with the Indians - 
 interest on balances due by banks to the United 
 
 States 
 
 moneys previously advanced on account of treaty 
 with Spain - 
 
 From dividends on stock in the Bank of the United 
 States : , -. 
 
 From balances of advances made in the War Depart- 
 ment, repaid under the 3d section of the act of 1st May, 
 
 1820 -.<r-.''iS - .- - fir; 
 
 $20,534 28 
 
 5,124 48 
 
 1,514 28 
 
 7,080 00 
 
 7,466 00 
 
 1,063 44 
 
 33,702 81 
 
 2,959 25 
 
 720 73 
 327 4 
 
 80,492 72 
 402,500 00 
 
 17,551 63 
 $500,544 35 
 
 ,$-; . 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1826. 
 
 JOSEPH NOURSE, Register. 
 
 \ ' ' 'i? 
 
 j
 
 REPORTS OF THE 
 
 [1826. 
 
 $949,060 89 
 
 STATEMENT of expenditures of the United States, from the 1st of 
 January to the 3Qth of September, 1826. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ : 
 
 Legislature -$351,255 45 
 Executive departments - 381,121 49 
 Officers of the mint 7,200 00 
 Commissioners of the Public Buildings 1,179 94 
 Surveying department *.'-' 14,848 18 . 
 Governments in the Territories of the Uni- 
 ted States - 27,973 16 
 Judiciary 165,482 67 
 
 Annuities and grants 1^750 00 
 
 Mint establishment *"; ' 21,568 27 
 
 Unclaimed merchandise 108 07 
 
 Light-house establishment '-''' - 159,557 10 
 
 Surveys of public lands - 47,449 69 
 
 Registers and receivers of land offices - 2,118 96 
 
 Preservation of the public archives in Flo- ^- * 
 
 rida - 625 -00 
 
 Land claims in Florida Territory 9.723 48 
 
 Land claims in St. Helena laud district 2,937 50 
 
 Roads within the State of Ohio 7,331 06 
 
 Roads within the State of Indiana 7.176 97 
 Roads, canals, &c. within the State of Ala- 
 bama 
 
 Roads, canals, &c. within the State of Mis- 
 souri 1,385 64 
 Roads, canals, &c. within the State of Missis- 
 sippi ; - ' % - - ' 5,888 15 
 Repairing the mail road between Jackson and 
 
 Columbus." - 15,000 00 
 Marine hospital establishment - 37,656 50 
 Public buildings in Washington - - 62 ; 271 97 
 Bringing votes for President and Vice Presi- 
 dent of the United States 41 75 
 Appropriation of prize money - 4^297 55 
 Stock in the Chesapeake and Delaware Canal 
 
 Company . - 107,500 00 
 
 Stock in the Dismal Swamp Canal Company 150,000 00 
 Stock in the Louisville and Portland Canal 
 
 'Company - 20,000 00 
 
 Payment of claims for property lost, &c. 258 50 
 
 Payment of claims for buildings destroyed -- 178,00245 
 Payment of balances due to officers of old 
 
 internal revenue and direct tax - 35 70 
 Payment of balances to collectors of new in- 
 ternal revenue - ,* ; ' 46425 
 Miscellaneous expenses - - 104,744 69 
 
 960,851 53 

 
 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
 379 
 
 Diplomatic department - $74,138 17 
 
 Contingent expenses of foreign intercourse - 10,134 38 
 
 Relief and protection of American seamen - 7,592 62 
 
 Treaty of Ghent, (6th and 7th articles) - 7,500 00 
 
 Treaty of Ghent, (1st article) - 7,000 00 
 Payment of claims under the 9th article of 
 
 the treaty with Spain ?.-*. 9,967 88 
 
 Treaties with the Mediterranean powers - 3,086 08 
 
 MILITARY ESTABLISHMENT, VIZ'. 
 
 Pay of the army - rtV* 
 
 Subsistence 
 
 Quarter master's department 
 
 Purchasing department U: 
 
 Bounties and premiums 
 
 Forage 
 
 Expenses of recruiting 
 
 Medical department - 
 
 Purchase of woollens for 1 827 
 
 Ransom of American captives 
 
 Balances due to certain States^ on account of 
 
 militia 
 
 Payment for property lost. &c. 
 Armories 
 Arsenals 
 
 Arsenal at Vergennes 
 Ordnance . s - - 
 
 Arming and equipping the militia - -''^ 
 Military Academy, West Point 
 Repairs and contingencies of fortifications - 
 Armament of new fortifications 
 Fort Monroe - - -- E*/V 
 
 Fort Calhoun 
 
 Fort Delaware ^ ; -^"'?' 
 
 Fort Jackson 
 Fort at Mobile Point 
 Fort at New Utrecht Point - - 
 Fort at Brenton's Point 
 Fort at the Rigolets and Chef Menteur 
 Fort at Beaufort. North Carolina- - 
 Fort at Cape Fear - 
 Fort Constitution f- . 
 Fort Bienvenue - 
 Deepening the harbor of Presique Isle 
 Preservation of the islands in Boston harbor 
 Repairs of Plymouth beach - 
 Improving Ohio and Mississippi rivers 
 Surveys, &c., of. roads and canals - 
 Continuation of the Cumberland road 
 
 $119,419 13 
 2,029,331 55 
 
 $715,762 95 
 
 203,348 88 
 
 272,592 15 
 
 186,624 03 
 
 5,996 70 
 
 27,803 90 
 
 9,157 90 
 
 18,901 28 
 
 10,000 00 
 
 985 18 
 
 6,615 02 
 
 168 25 
 
 275,117 06 
 
 43,166 20 
 
 3,000 oa 
 
 52,280 91 
 
 147,942 80 v 
 
 9,853 83 
 
 3,976 86 
 
 1,600 00 
 
 87,600 00 
 
 60,900 00 
 
 18,499 03 
 
 50,940 58 
 
 89,666 45 
 
 64,8300.0 
 
 66,221 25 
 
 64,912 00 
 
 8,345 00 
 
 26,800 00 
 
 2,500 00 
 50,000 00 
 
 7,895 00 
 19,950 00 
 
 8,500 00 
 
 8,438 25 
 24,082 41 
 70,749 00 
 
 , ,*!t .. 
 i v '
 
 380 
 
 REPORTS OF THE 
 
 [1826. 
 
 Road from Ohio to Detroit - 
 
 Road from Missouri to New Mexico 
 
 Road from Memphis to Little Rock - 
 
 Road from Little Rock to Cantonment Gibson 
 
 Survey of a route for a canal from the Atlan- 
 tic to the Gulf of Mexico - 
 
 Road from Pensacola to St. Augustine 
 
 Removing obstructions in Huron creek, Ohio 
 
 Removing obstructions in Cunningham creek, 
 Ohio 
 
 Removing obstructions in Grand river, Ohio 
 
 Removing obstructions in Ashtabula creek, 
 Ohio 
 
 Surveying harbor of Edgartown, Mass. 
 
 Surveying Sandusky bay, Ohio 
 
 Surveying Laplaisance bay, Michigan 
 
 Interest due the State of Maryland - 
 
 Interest due to Baltimore 
 
 Relief of sundry individuals 
 
 Relief of officers, &c., Seminole war 
 
 Contingencies 
 
 Arrearages - 
 
 Maps, plans, books, &c. 
 
 Invalid and half-pay pensions 
 
 Revolutionary pensions 
 
 Civilization of Indians - - 
 
 Pay of Indian agents 
 
 Pay of sub-agents - 
 
 Presents to Indians 
 
 Contingencies of Indian department 
 
 Compensation to citizens of Georgia 
 
 Creek treaty of 1825 
 
 Creek treaty of 1826 
 
 Treaties with Osages and Kanzas - 
 
 Treaties with Indians in Indiana 
 
 Treaties with Florida Indians 
 
 Effecting certain treaties, per act May 26, 1826 
 
 Choctaw treaty . 
 
 General councils at Green Bay 
 
 Claims against Osages 
 
 Annuities to Indians . - ' - 
 
 - 
 
 $14,107 45 
 
 _r. 
 
 9.000 00 
 
 
 
 904 00 
 
 )11 
 
 2,441 74 
 
 * 
 
 9,316 00 
 
 - 
 
 2,069 00 
 
 10 
 
 1.500 00 
 
 k, 
 
 
 .- 
 
 1,000 00 
 
 
 
 1,000 00 
 
 t 
 
 
 '- 
 
 1,000 00 
 
 J 
 
 500 00 
 
 - 
 
 400 00 
 
 - 
 
 200 00 
 
 - 
 
 61,582 63 
 
 - - 
 
 21.710 25 
 
 f 
 
 76,411 12 
 
 ,. 
 
 3.827 09 
 
 - 
 
 12,601 18 
 
 'i 
 
 21,816 97 
 
 * 
 
 84 87 
 
 - 
 
 304.702 45 
 
 - 
 
 1,305,564 23 
 
 - 
 
 12,784 59 
 
 , 
 
 16,385 66 
 
 - 
 
 5 ; 521 59 
 
 - 
 
 16,578 40 
 
 
 140,401 44 
 
 '<*, 
 
 23,000 00 
 
 * 
 
 20,813 88 
 
 -* 
 
 76,913 00 
 
 * 
 
 18,306 IS 
 
 - 
 
 15,000 00 
 
 - 
 
 418 00 
 
 JG 
 
 80,262 29 
 
 - 
 
 2,204 51 
 
 ..- 
 
 27,000 00 
 
 _ r 
 
 > 2,407 71 
 
 - 
 
 237,841 88 
 
 From which deduct the following repay- 
 ments : 
 Survey of the coast of the United 
 
 States - - $2,586 00 
 
 Survey of Marblehead and Holmes's 
 
 Hole - - 54 76 
 
 Purchase of Indian title to land in 
 
 Michigan - 507 76 
 
 Purchase of Indian title to land in 
 
 Tuscarawas - - - 63 32 
 
 5,273.300 98 

 
 1826.] 
 
 SECRETARY OF THE TREASURY. 
 
 381 
 
 Gratuities 
 Fortifications 
 
 - $454 73 
 -2.653 48 
 
 $6,320 05 
 
 NAVAL ESTABLISHMENT, VIZ: 
 
 Pay of the navy afloat 
 
 Pay of the navy shore stations 
 
 Provisions 
 
 Medicines and hospital stores 
 
 Repairs of vessels - 
 
 Navy yard, Portsmouth 
 
 Navy yard, Charlestown - '- 
 
 Navy yard. New York 
 
 Navy yard, Philadelphia 
 
 Navy yard, Washington - 
 
 Navy yard, Norfolk .' ''<>> 
 
 Navy yard, Pensacola 
 
 Gradual increase of the navy 
 
 Ordnance and ordnance stores 
 
 Building ten sloops of war 
 
 Houses for ships in ordinary 
 
 Inclined plane dock, &c. 
 
 Superintendents, artificers, &c. 
 
 Laborers, and fuel for engine 
 
 Prohibition of the slave trade 
 
 Suppression of piracy 
 
 Contingent, not enumerated, lor 1824 
 
 Contingent, for 1825 
 
 Contingent, not enumerated, for 1825 
 
 Contingent, for 1S26 
 
 Contingent, not enumerated, for 1826 
 
 Pay and subsistence of the marine corps 
 
 Clothing for the marine corps 
 
 Medicines for the marine corps - - 
 
 Fuel for the marine corps - 
 
 Military stores for the marine corps 
 
 Contingent for the marine corps - 
 
 Harracks for the marine corps 
 
 From which deduct the following repay- 
 ments : 
 
 Contingent, prior to 1824 $8,715 55 
 
 Contingent, for 1824 - - 5,899 13 
 
 Navy yards, docks, and wharves 2,843 23 
 
 $758,253 52 
 
 142,545 69 
 
 320,703 94 
 
 21,841 54 
 
 378,843 30 
 
 4,112 24 
 
 37,771 31 
 
 49,295 51 
 
 13,539 26 
 
 24,799 81 
 
 40,253 78 
 
 13,000 00 
 
 663,522 10 
 
 17.354 63 
 
 382,495 73 
 
 42,609 75 
 
 316 50 
 
 40,537 55 
 
 9,461 97 
 
 20,489 36 
 
 1,358 98 
 
 304 15 
 
 242 74 
 
 673 88 
 
 219,781 '88 
 
 600 00 
 
 93,120 23 
 
 21.983 40 
 
 248 47 
 
 9,321 45 
 
 199 S3 
 
 8,208 20 
 
 1,000 00 
 
 3,338,790 70 
 
 17,457 91 
 
 PUBLIC DEBT: 
 
 Interest on the funded debt - 3,031,848 74 
 
 Redemption of 6 per cent, stock of 1813 - 5,063,922 62 
 Paying certain parts of domestic debt 27 86 
 
 $5,266.980 93
 
 382 REPORTS OF THE [1826. 
 
 Reimbursement of Treasury notes $307 17 
 
 Reimbursement of Mississippi stock 450 00 
 
 Redemption of 7 per cent, stock , . - 25 00 
 
 ' '$8,096,581 39 
 
 : , 18,714,226 66 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1826. 
 
 JOSEPH NOURSE, Register. 
 
 . . 
 
 L 
 
 .; . .:*... -,;.,... -\ _.:.)> ^vi^. 
 
 The commissioners of the sinking fond having, on the 27th of Sep- 
 tember, 1826, resolved that two millions of dollars of the six per cent, stock, 
 created by the act of Congress of the 8th of February, 1813, should be 
 redeemed on the 1st of January, 1827, the following was the course adopt- 
 ed at the Treasury to carry the resolution into effect : 
 
 1. All the loan offices' were instructed to transmit to the Treasury the 
 numbers of the certificates of this stock, and the names of the holders, as 
 they stood upon the books of the offices, respectively, on the 16th of Sep- 
 tember, 1826 ; the books being always closed against transfers fourteen 
 days before the end of a quarter. 
 
 2. The amount of the whole being $11.248,389 26, composed of dif- 
 ferent and unequal sums on the books of the several offices, the two mil- 
 lions were made up .among all the offices by taking a, proportional sum for 
 each. For example: the entire sum standing upon the books of the New 
 York office being $2,235,533 49, the sum of $395,600 bore the same pro- 
 portion to two millions that $2,225,533 .49 did to $11,248.389 26. The 
 entire sum upon the books of the office in South Carolina being $555,149 -39, 
 the sum of $98,684 bore the same proportion to two millions that $555,149 39 
 did to $11,248,389 26 ; and in this manner the proportional sum was fixed 
 for al] the offices. 
 
 3. All the certificates, or the numbers representing them, returned by 
 each office, were then formed into as many parcels as there were offices, 
 and successively put into , as many boxes. As many of them were then 
 drawn out from each box, by lot, as made up the proportional amount ascer- 
 tained as above to belong to each office. The holder of any one number 
 or certificate thus drawn out was, by the terms of the notice under which 
 the contract for the loan was entered into, to be paid off. not only to the full 
 amount of that particular certificate, but of all other certificates of this same 
 stock, of which he was the owner. 
 
 The doctrine of chances rendering it nearly impossible to draw out in 
 exact figures the sum wanted in the case of each office, the last drawn cer- 
 tificate or number, in each case, was found to give an excess, in some in- 
 stances greater, in others less. 
 
 4. This excess, the aggregate of which amounted to $162,599 63, was 
 disposed of thus : The whole of the numbers or certificates already success- 
 ively drawn out on account of all the offices, were put back again into one
 
 1826.J SECRETARY OF THE TREASURY. 383 
 
 
 
 box, and a new drawing was had from amongst them all, for exemption, to 
 the amount of the foregoing aggregate excess, so as to bring back the result 
 to the two ;millions wanted. As the last drawn certificate or number, in. 
 performing this operation, proved to be a large one, it led to the opposite 
 result, of lowering the amount below the level aimed at, by as much as 
 $57,293 58. 
 
 To absorb this deficit, a further drawing was resorted to, from the entire 
 mass of the undrawn numbers, which were put into another box ; and this 
 operation terminated in reaching the sum required, with only a fractional 
 excess of $2,306 71. This was deemed too small to make it necessary to 
 renew the drawing for exemption, and the whole operation was accordingly 
 closed. 
 
 The principle of apportionment among the different offices was believed' 
 to be the most proper mode, of paying off the sum in question. It was alike 
 equal to the stockholders, and tended to produce payments more equal 
 throughout the different States, than if the drawing had taken place from all 
 the certificates representing the whole sum of $11.248,389 26 thrown into 
 a common mass. 
 
 The drawing of the lottery commenced on the 29th of September, and 
 was completed this day. The delay was owing to the Banks of the United 
 States at Philadelphia and Boston (acting as loan offices) not having made 
 return of the certificates standing on their books in due time; those from 
 the former not having been received until the 3d instant, and those from the 
 latter not until yesterday. It had, otherwise, been intended to complete the 
 drawing of the lottery on the 29th of September, and issue the notice to the 
 public creditors, to be paid off by its decision, on the last day of the quarter. 
 
 RICHARD RUSH. 
 
 TREASURY DEPARTMENT, 
 
 October 12, 1826. 
 
 /
 
 384 
 
 REPORTS OF THE 
 
 No. 1. 
 
 [1826. 
 
 STATEMENT of the debt of the United States, on the 1st of October, 
 
 1825. 
 
 Three per cent, stock 
 
 Six per cent, stock of 1813 (loan of 16 mil- 
 lions) - 
 
 Six per cent, stock of 1813 (loan of 1\ mil- 
 lions) - 
 
 Six per cent, stock of 1814 
 
 Six per cent, stock of 1815 
 
 Five per cent, stock (subscription to 
 Bank United States) - 
 
 Five per cent, stock of 1820 
 
 Five per cent, stock of 1821 
 
 Exchanged five per cent, stock of 1822 - 
 
 Funded 4-| per cent, stock, per act of the 
 24th May, 1824, (Florida loan) 
 
 Funded 4^ per cent, stock, per act of the 
 26th May, 1824 
 
 Exchanged 4^ per cent, stock of 1824 - 
 
 - $13,296.231 45 
 
 - $12.403,051 66 
 
 5,452,884 46 
 13,096,542 90 
 9,490,099 10 
 
 7,000.000 00 
 999,999 13 
 4,735,296 30 
 56,704 77 
 
 5,000,000 00 
 4,454,727 95 
 67,689,306 27 
 
 TREASURY DEPARTMENT, 
 
 Register** Office, November 30, 1826. 
 
 JOSEPH NOURSE, Register.
 
 L326,] SECRETARY OF THE TREASURY. 
 
 No. 2. 
 
 3S5 
 
 STA TEMENT of the debt of the United States on the \st January, 
 
 1826. 
 
 Three per cent, stock 
 
 Six per cent, stock of 1813 (loan of 16 
 
 millions) 
 Six per cent, stock of 1813 (loan of 
 
 millions) 
 
 Six per cent, stock of 1 814 
 Six per cent, stock of 1815 
 Five per cent, stock (subscription to the 
 
 Bank of the United States) 
 Five per cent, stock of 1820 
 Five per cent, stock of 1821 
 Exchanged 5 per cent, stock of 1822 
 Funded 4^ per cent, stock, per act of 
 
 24th May, 1824 (Florida loan) 
 Funded 4^ per cent, stock, per act of 26th 
 
 May, 1824 - 4 
 
 Exchanged 4 per cent, stock of 1824 - 
 Exchanged 4| per cent, stock of 1825 - 
 
 - $13,296,231 45 
 
 - $11,254,197 46 
 
 5,062,402 50 
 13,096.542 90 
 9,490^099 10 
 
 7,000,000 00 
 999,999 13 
 4,735,296 30 
 56.704 77 
 
 5,000,000 00 
 
 5,000,000 00 
 4,454,727 95 
 1,539,336 16 
 
 67,689,306 27 
 
 80,985,537 72 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1826. 
 
 JOSEPH NOURSE, Register. 
 
 VOL, ii. 25
 
 REPORTS OF THE [1826, 
 
 No. 3. 
 
 STATEMENT of the debt of the United States on the 1st October, 
 1826, and on the 1st January, 1827. 
 
 Three 'per cent, stock - - - -..-'- $13,296,24770 
 
 Six per cent, stock of 1813 (loan of 16 millions) - - 811 ,254 , 197 46 
 
 Six per cent, stock of 1814 - - 13,096,54290 
 
 Six per cent, stock of 1815 - - 9,490,09910 
 
 Five per cent, stock (subscription to Bank of United States) - 7,000,000 00 
 
 Five per cent, stock of 1820 - . - 999,99913 
 
 Five per cent, stock of 1821 - - - 4,735,296 30 
 
 Exchanged 5 per cent, stock of 1822 56,70477 
 
 Funded 4* per cent, stock, per act of 24th May, 1824 (Florida 
 
 loan) - - 5,000,000 00 
 
 Funded 4i per cent, stock, per act,of 26th May, 1824 - - 5^000,000 00 
 
 Exchanged 4J per cent, stock, per act of 26th May. 1824 - 4,454,727 95 
 
 Exchanged 4* per cent, stock of 1825 - - 1,539,336 16 
 
 62,626,903 77 
 
 75,923,151 47 
 
 Amount of the debt of the United States, per the foregoing statement No. 1. 
 and per statement No. 3, which accompanied the report of the Secretary of 
 the Treasury of 22d December, 1825 - 80,985,537 73 
 
 Add stock issued in the first quarter of 1826. viz : 
 
 Three per cent, stock . - $1625 
 
 Exchanged 4* per cent, stock of the 3d March, 1825, in lieu 
 of 6 per cent, stocks of 1813 - 1 ,539 ,336 16 
 
 1,539,35241 
 
 82,524,890 13 
 
 Deduct stocks surrendered, and payments on account of the principal of the 
 debt, viz: 
 
 Six per cent, stock surrendered, and for which exchanged 
 4 per cent, stock was issued in lieu, under the act of 
 the 3d March, 1825, of the 16 million loan - - -&1 ,148,854 20 
 
 Six per cent, stock surrendered, and for which exchanged 
 4i per cent, stock was issued in lien, under the act of 
 the 3d March. 1825, of the 7i million loan - 390,481 96 
 
 1,539,336 16 
 
 Payment of the residue of the 7J million loan on the 1st July, 
 
 1826 ... - - "- 5.062,402 50 
 
 6,601,738 66 
 
 Amount of the debt, as above, on the 1st October, 1826 - 75,923, 151 47 
 
 From which deduct the amount proposed to be paid off on the 1st January, 1827 2 ,002,306 71 
 
 Leaving the amount of the debt on the 1st January, 1827 - - - 73,920,844 76 
 
 TREASURY DEPARTMENT, 
 
 Register's Office. November 30, 1826. 
 
 JOSEPH NOURSE, Register. 
 
 Note. The amount of the six per cent, stocks of 1813, exchanged under the act of the 3d 
 March, 1825, was stated, last year, by estimate, at $1,585,138 88: the accounts of the commis- 
 sioners of loans have since been adjusted, and the true amount ascertained to be $1,539,336 16; 
 one moiety whereof, or $769,668 08, is redeemable in 1829; the other in 1830.
 
 1826.] SECRETARY OF THE TREASURY. 337 
 
 No. 4. 
 
 ) 
 
 ESTIMATED AMOUNT of Treasury notes outstanding on the 1st 
 
 of October, 1826. 
 
 Total amount issued, as per No. 4, of the hist report - $36,680,794 00 
 Cancelled and reported on by the First Auditor - - 36,665,754 00 
 
 Outstanding $15,040 00 
 
 Consisting of small Treasury notes .4 $2,24000 
 Notes bearing interest 12,800 00 
 
 $15,040 00 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30, 1826. 
 
 JOSEPH NOURSE, Register. 
 
 No. 5. 
 
 STATEMENT of the stock issued under the act of Congress entitled 
 " An act supplementary to the act for the indemnification of certain 
 claimants of public lands in the Mississippi Territory, passed on the 
 3d March, 1815. 
 
 Amount of claims awarded, per statement No. 5, of last 
 
 report - - $4,282,151 
 
 Whereof there was paid in for lands, per said report - $2,447,535 39 
 Payments at the Treasury to the 30th September, 1825, 
 
 per said statement - $1.826,765 56 
 
 Payments from 1st October, 1825, to 30th 
 
 September, 1826 450 00 
 
 --- 1,827,215 56 
 
 Balance outstanding on the 1st October, 1826 : 
 Consisting of certificates outstanding - 7,355 57 
 
 Awards not applied for 44 60A 
 
 -- 7,400 
 
 $4283,151 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 30 1826. 
 
 JOSEPH NOURSE. Register. 
 
 /.''! -. , L
 
 REPORTS OF THE [1S27. 
 
 REPORT ON THE FINANCES. 
 DECEMBER, 1827. 
 
 In obedience to the act making it the duty of the Secretary of the Treas- 
 ury to " lay before Congress, at the commencement of every session, a re- 
 port on the subject of finance, containing estimates of the public revenue and 
 public expenditures, and plans for improving or increasing the revenues 
 from time to time," the Secretary proceeds to the task which that duty en- 
 joins upon him. 
 
 It is satisfactory to be able to state, in the beginning, that the revenue 
 accruing for the current year is likely to exceed, rather than fall below, 
 that of the last. This is the more satisfactory, when considered in connex- 
 ion with the fact of the unusually large importations of foreign merchandise 
 in 1825. The importations for that year having greatly exceeded their 
 average value for many years preceding, a subsequent reduction in their 
 value had been looked to, under analogous facts heretofore occurring in the 
 foreign trade of the country. This has proved to be less the case than 
 might have been anticipated. Although the importations for the year end- 
 ing on the 30th of September last are believed to have been less than 
 for the year ending on the same day in 1826 ; those for 1827, commencing 
 on the 1st of January, and ending with the close of the present month, will, 
 in all probability, be greater. It is on the year, calculated in the latter way, 
 that the annual revenue from the^customs is estimated. The importations 
 for the third quarter of the present year have been large, owing to the 
 quantity of woollen goods which they embraced. If this, on the one hand, 
 has been a cause specially operating to augment the entire importations of 
 1827, there are circumstances, connected with other branches of the foreign 
 trade, that have been specially in operation to diminish them. The opinion 
 may reasonably be entertained, founded on these and other considerations, that 
 the re-action, under the heavy importations of 1825, has arrived at its close. 
 Aside, therefore, from unforeseen events, the importations for the next year, 
 on which the revenue so mainly depends, under the present system of 
 finance, may be expected to prove sufficiently ample for every ordinary finan- 
 cial purpose. The actual receipts into the Treasury, during the current 
 year, have been less, in particulars that will be presently stated, than the 
 sum at which they were estimated. They have been sufficient, however, 
 with the balance in the Treasury at the commencement of the year, to meet 
 every appropriation for the service of the year, including the sum of ten 
 millions on account of the public debt. 
 
 As the state of the public debt, and manner in which the process of ex- 
 tinguishment goes on, from year to year, is a subject on which the nation de- 
 sires and expects to receive accurate and full information, it will be exhibit- 
 ed to Congress, in the first instance, upon the present occasion. The exposi- 
 tion of this subject will be given in connexion with a short retrospect. 
 
 From the 1st January,! 825, to the close of the present year, there will have 
 been applied to the principal of the public debt the sura of $21,297,210 93 ;
 
 1827.] SECRETARY OF THE TREASURY. 389 
 
 and paid, on account of interest, the sum of $11.853,445 20 ; making 
 a total of $33,160,056 13. Of the applications on account of the princi- 
 pal during these years, $7.725.034 88 \vere made in 1825; $7.064,709 21 
 in 1826; and $6,507,466 84 will have been made by the close of 1827. Of 
 the preceding sum of $21.297,210 93, it is proper to state that a portion of 
 it, viz : $5,000,000, was borrowed under the act of the 26th of May, 
 
 1824, at an interest of four and a half per cent., to pay off an equal portion of 
 debt standing at an interest of six per cent. The aggregate amount of the 
 public debt on the 1st of January, 1825, was $83.710,572 60. To this 
 must be added the stock, amounting to five millions, at four and a half per 
 cent., created by the above act, but which was not issued until after the com- 
 mencement of 1825, and a small amount of three per cent, stock that was 
 subsequently issued, viz: $16 25. making the whole of the public debt, in 
 
 1825, $88,710,588 85. The aggregate- amount at which it will stand on 
 the 1st of January, 1828. wilf be $67.413,377 92. The whole of the 
 $21,297,210 93, applied to the principal of the debt in the three years men- 
 tioned, have gone towards the reduction of the six per cent, stock. Five mil- 
 lions of this sum having been replaced by the stock at four and a half per 
 cent, issued under the act of the 26th of May aforesaid, are of course again 
 to be ranked as part of the debt. It follows, that debt, in six per cent, stock, 
 to the amount of sixteen million two hundred and ninety-seven thousand 
 two hundred and ten dollars ninety-three cents, will have been absolutely ex- 
 tinguished in the course of these three years, by the surplus moneys of the 
 Treasury, in addition to $11,863,445 20 paid as interest. It also follows, 
 that twenty-one million sixty-two thousand three hundred and thirty-two 
 dollars seventeen cents, in principal and interest, will have been applied to 
 the public debt during the years 1826 and 1827, out of the means of the 
 Treasury, without any assistance whatever from loans. This is an amount 
 greater than was required to be applied to it for these two years by the ob- 
 ligations of the sinking fund act. 
 
 It will be satisfactory to Congress to know, that, during- the three years in 
 question, besides these payments made on account of the debt, and all other 
 payments to meet the annual expenses of Government, large sums have been 
 applied to objects wearing a character neither temporary nor annual. By 
 these are meant internal improvements, in the form of subscriptions : to ca- 
 nals ; and appropriations for otherwise opening and extending intercourse 
 throughout the country; fortifications and armories: ships of war, naval 
 docks, and other establishments connected with the navy; public edifices of 
 various descriptions, whether for purposes marine or civil; arming the mili- 
 tia; the purchase of lands from the Indians, and other expenses belonging 
 fc> this department of the public service. On such objects, and others kin- 
 dred to them, the expenditures during these three years have reached a sum 
 little short of twelve millions of dollars. A nation that, after providing for 
 the regular support of its Government, is seen to proceed in this manner in 
 the payment of its public debt, and in additional disbursements so consider- 
 able, for which equivalents remain, that for the most part are of permanent 
 value to the nation, cannot be regarded as other than prosperous in its finan- 
 cial condition. 
 
 That the exact situation of the whole funded debt at this time may be 
 seen, the several parts of which it consists will be distinctly set forth, for 
 the full information of Congress.
 
 REPORTS OF THE [1827. 
 
 Its total amount, on the 1st of October last, was (statement No 1) 
 $68,913,541 08. This sum comprehends the old revolutionary three per 
 ^ents, amounting to $13,296,247 70, redeemable at the pleasure of the 
 Government; and the seven millions subscribed to the Bank of the United 
 States, also redeemable at the pleasure of the Government. 
 
 The residue of the debt was contracted after the commencement of the 
 war of 1812, and consists of various loans and stocks, created and redeem- 
 able at periods as follow: 
 
 1. The sum of $4,244,587 07, at six per cent., being the residue un- 
 paid of the loan under the act- of the 8th of February, 1813, and redeem- 
 able in 1826. The amount authorized to be borrowed under this act was 
 sixteen millions. For this sum, certificates of stock issued to the amount 
 of $18.109,377 43, a premium having been given to the lenders. Of this 
 amount there remain unpaid, as above, $4,244,587 07. 
 
 2. The sum of $13,096,542 90, at six per cent., being the residue un- 
 paid of loans made under the act of the 24th of March, 1814, and redeem- 
 able in 1827. The amount authorized by this act was twenty-five millions. 
 Of this amount there was borrowed, under loans contracted in 1814, the sum 
 of $12,942,423 26. For this sum, certificates of stock issued to the 
 amount of $16.108,014 43, under a premium to the lenders, as above, of 
 which there rqmain unpaid of the loan contracted on the 2d day of 
 May, in that year, $8,507,866 36; of that contracted on the 22d of August, 
 $4,050,780 77; and of other smaller loans, contracted under the act, in the 
 course of the same year. $537,895 77: making, in the whole, $13.096.542 90 
 as first above stated. 
 
 3. The sum of $9,490,099 10, at six per cent., being the residue un- 
 paid of the loan under the act of the 3d of March, 1|315, and redeemable 
 in 1828. This act authorized a loan of eighteen million four hundred and 
 fifty-two thousand eight hundred dollars. There was borrowed under it 
 the sum of $11,699.326 63, principally by the funding of Treasury notes, 
 .and certificates of stock issued to the amount of $12,288,147 56, of which 
 there remain unpaid, as above, $9,490,099 10. 
 
 4. The sum of $769.668 08, at an interest of four and a half per cent., 
 being one half of the six per cent, stock of 1813 exchanged under the act 
 of Congress of the 3d of March, 1825, and redeemable in 1829. 
 
 5. The sum of $769,668 08, at an interest of four and a half per cent., 
 being the other half of the six per cent, stock exchanged as above, and re- 
 deemable in 1830. 
 
 6 The sum of $18,901 59, at five per cent., being one third part of the 
 sum of $56,704 77, issued in exchange for six per cent, stock of 1813, 
 1814, and 1815, under the act" of the 20th of April, 1822, and redeemable 
 in 1831. 
 
 7. The sum of $18,901 59, at five p& cent., being one other third part 
 of the sum subscribed as above stated, and redeemable in 1832. 
 
 8. The sum of $10,000,000, at 'four and a half per cent., being stock 
 created under the acts of the 24th and 26th of May, 1824, for sums borrow- 
 ed of the Bank of'the United States, one-half to pay the Florida claims, the 
 other half to pay off the six percent, stock of 1812, and redeemable in 1832, 
 
 9. The sum of $999,999 13, at five per cent. , being 'stock created by the 
 act of the 15th of May, 1820, and redeemable in 1832. 
 
 10. The sum of $18,901 59, at five per cent. , being the remaining third 
 subscribed under the act of the 20th of April, 1822. and redeemable in 1833.
 
 1527.] SECRETARY OF THE TREASURY. 391 
 
 11. The sum of $2/227,363 97, at four and a half per cent., being one 
 half of the amount subscribed in exchange for six per cent, stock of 1813. 
 under the act of the 26th of May, 1824, and redeemable in 1833. 
 
 12. The sum of $2,227,363 98, at four and a half per cent., being the 
 other half subscribed under the act last above stated, and redeemable in 
 1834. ' 
 
 13. The sum of $4,735,296 30, at five per cent., being the amount of 
 stock issued under the act of the 3d of March, 1821, and redeemable in 
 1835. 
 
 The foregoing 1 enumeration gives the aggregate of $68,913,541 08, stated 
 as the amount of the debt on 1st of October last. 
 
 Of this aggregate, it may not be improper here to state, that $49,001.215 36 
 are owned in the United States, and $19,912,325 72 by foreigners. 
 
 A payment being about to be made, on account of the principal of the 
 debt, at the close of the present year, in addition to one that was made in 
 July, its total aggregate amount, on the 1st of January, 1828, will be 
 $67,413,377 92. 
 
 To make up this aggregate, all the items exhibited in the foregoing view 
 of (ho whole debt are included. But the whole together gives the nominal 
 rather than the real amount of the debt. Its real amount on the 1st of Jan- 
 uary, 1828, will be but a fraction above sixty millions. The sum of seven 
 millions subscribed by the Government to the Bank of the United States, 
 is, in effect, destroyed as debt, by the United States owning an equal amount 
 in the shares of the bank. So far is this sum from being any charge upon 
 the Treasury, that the Treasury is annually receiving interest for it, in the 
 dividends upon the shares. Whenever the latter are sold, they may at 
 least be expected to replace the sum that was invested in them. The old 
 revolutionary three per cents, too. have now existed nearly forty years. By 
 the provisions of the sinking fund act, this stock can only be bought up and 
 extinguished by the Government, when the price shall fall to sixty-five dol- 
 lars for every one hundred dollars. This, in all probability, will prevent, 
 for some time to come, the $13,296,247 70, of which this stock consists, 
 being any charge upon the resources of the nation, so far as paying off the 
 principal is concerned; as it would be difficult to say when the obligation 
 to pay it off will attach, under the above act, or when it could otherwise be 
 done with full advantage to the public. It is 'many years since this stock 
 has been as low as sixty-five dollars for one hundred, and there is no present 
 prospect of its falling so low. The portions of the debt, therefore, which, 
 under the existing enactments of the law, can alone be met by an annual and 
 ascertained process of extinguishment, unless the three per cents should be 
 paid off at one hundred, cannot be computed at more than $47,117,130 22. 
 It is plain that this amount is rapidly hastening to extinguishment If the 
 United States continue at peace, (and there is, happily, no present prospect 
 of its interruption,) their debt mtfst, in a few years more, disappear. The 
 new obligations which will devolve upon the national councils, in reference 
 to the pecuniary resources of the country, when liberated from large annual 
 payments on account of the debt, the wisdom of those councils will, at the 
 proper season, know how to estimate. 
 
 It remains to make known, in conclusion, under this head, the operations 
 had at the Treasury upon the public debt, since the adjournment of the last 
 session of Congress. 

 
 392 REPORTS OF THE [1927. 
 
 In the last annual report from this department, a loan to the amount of 
 sixteen millions, at an interest not to exceed five per cent., was recom- 
 mended. The object of such a loan was to pay off a portion of the debt^ 
 equal to sixteen millions, bearing an interest of six per cent. No law to 
 this effect having passed, it became the duty of the department to proceed 
 in the work of paying off the six per cents, as far as the means of the Trea- 
 sury would allow. Accordingly, on the 1st of July, the sum of 5.007,303 T 6 /^ 
 dollars was paid on account of the six per cent, loan created by the act of 
 the 8th of February, 1813. By the decision of the commissioners of the 
 sinking fund, in September, it was agreed that the further sum of 1,500,000 
 dollars should be paid, on account of the same loan, at the termination of the 
 present quarter of this year. Public notices have been issued in conformity 
 with this decision, and are now outstanding. A small fraction over the sum 
 is included in the notice, the terms of the loan having rendered it necessary 
 that the certificates to be paid off should be fixed upon by lot, and the last 
 drawn number in this instance, as in the payment of July, having given the 
 fractional excess. The manner of drawing the lots, having been minutely 
 described in a paper annexed to the last annual report, will not here be re- 
 peated. In deciding upon the further payment of 1,500,000 dollars, the 
 commissioners had due reference to the 4th section of the sinking fund act 
 of March 3d, 1817, which declares, that "whenever there shall be, at any 
 time after an adjournment of Congress, in any year, a surplus of money in 
 the Treasury above the sums appropriated for the service of such year, the 
 payment of which to the commissioners of the sinking fund will yet leave 
 in the Treasury, at the end of the year, a balance equal tq two millions of 
 dollars, then such surplus shall be, and the same is hereby, appropriated to 
 the sinking fund, to be paid at such times as the situation of the Treasury 
 will best permit." But this provision was not viewed as creating any ob- 
 stacle to the decision. The construction and practice at the Treasury, 
 since the passage of the act, have invariably been, not to consider the above 
 provision as attaching, so long as any part of the ten millions remain unap- 
 plied to the debt j this sum being considered, under the very object and terms 
 of the act, as a standing appropriation for the service of the year. 
 
 No further remarks are deemed necessary at this time, in relation to the 
 public debt. Should the laws respecting it remain unchanged, payments on 
 account of the principal will continue to be made throughout the ensuing 
 year, in such ways as the obligations of the laws direct, and the means of 
 the Treasury may best allow. 
 
 PUBLIC REVENUE AND EXPENDITURE OF THE YEARS 1S26 AND 1827. 
 
 The nett revenue which accrued from duties on imports and 
 tonnage, during the year 1826, amounted (A) to , $20,248,05430 
 
 The actual receipts into the Treasury from all sources, du- 
 ring the year 1826, amounted to $25.260,434 21 
 
 Viz. 
 
 Customs, (statement A) 23,341,331 77 
 
 Public lands, (statement D) - 1,393,78509 
 
 Dividends on stock in the Bank of the 
 United States, arrears of internal du- 
 ties and direct taxes, and incidental 
 receipts, (statement E) 500,22890 ,,
 
 1827.] SECRETARY OF THE TREASURY. 
 
 Repayments of advances made in the War 
 Department, for services or supplies prior 
 to the 1st of July, 1815 ,^, : $25,088 45 
 
 Making, with the balance in the Treasury on the 1st of 
 
 January. 1826, of - $5.201.650 43 
 
 An aggregate of - - 30.462.084 64 
 
 The actual expenditures of the United States, on all ac- 
 counts, during the year 1826, amounted (statement F) 
 to - 24.103,398 46 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $2,600,177 79 
 
 Military service, including fortifications, 
 ordnance, Indian department, revolu- 
 tionary and military pensions, arming 
 the militia, and arrearages prior to the 
 1st of January, 1817 - - 6,243,23603 
 
 Naval service, including the gradual in- 
 crease of the navy - - 4,218,902 45 
 
 Public debt - - - 11,04 \' y OS2 19 
 
 Leaving a balance in the Treasury, on the 1st of January, 
 
 1827, of - 6,358,686 IB 
 
 The actual receipts into the Treasury, during the first 
 three quarters of the year 1827, are estimated to have 
 amounted to - - & '-$17,488.81007 
 
 Viz. 
 
 Customs - $15,142,892 68 
 
 Public lands, (statement G) - 1,212,011 29 
 
 Dividends on stock in the Bank of the 
 United States - ;..? 420,000 00 
 
 Arrears of internal duties and direct taxes, 
 and incidental receipts, (statement H) 681.561 12 
 
 [This item includes the sum of 602,480 dollars, as the 
 first moiety of a sum paid by the British Govern- 
 ment, by virtue of a convention under the first 
 article of the treaty of Ghent, for slaves carried off 
 by British officers, in contravention of that treaty ; 
 which sum, as it is paid out to the American claim- 
 ants, by Treasury warrants, in the usual form, has 
 a place among the actual receipts of the year, though 
 no part of the revenue.] 
 
 Repayments of advances made in the War 
 Department, for services or supplies prior 
 to the 1st of July, 1815 32,344 98 
 
 And the actual receipts into the Treasury, during the 
 fourth quarter of the year, (including the other moiety 
 of the sum explained as above,) are estimated at - - 5,117.480 00
 
 394 REPORTS OF THE 
 
 Making the total estimated receipts into the Treasury, 
 
 during the year 1827 - - $22,606,290 07 
 
 And with the balance in the Treasury on the 31st of De- 
 cember, 1826, of - 6,358,686 18 
 
 An aggregate of - $28,964.976 25 
 
 The expenditures of the first three quar- 
 ters of the year 1827, are estimated to 
 have amounted to (statement I) - $17,895,390 96 
 
 Viz. 
 
 Civil, diplomatic, and 
 miscellaneous - $2,013,520 47 
 
 [This item includes $'294,392 23, 
 paid to the American claim- 
 ants, under the first article of 
 the treaty of Ghent, in virtue 
 of awards duly made in their 
 favor.] 
 i _ -. '-. 
 
 Military service, includ- 
 ing fortifications, ord- 
 nance, Indian depart- 
 ment, revolutionary and 
 military pensions, arm- 
 ing the militia, and 
 arrearages prior to the 
 1st of January, 1817 - ,4,750,271 15 
 
 Naval service, f including 
 the gradual increase of 
 the navy - 3,458,575 91 
 
 Public debt, viz. 
 Reimbursement of prin- 
 cipal - 5,0.07,303 68 
 Payment of interest 2,665,719 75 
 
 And the expenditures of the fourth quar- 
 ter are estimated at , - - 4,800,00000 
 
 Viz. 
 Civil, diplomatic, and 
 
 miscellaneous - $672,243 4 
 
 , :!%uo ^ ;;rv . .. 
 
 [This item includes $92,687 67, 
 as amount of awards, under 
 the first article of the treaty , 
 ofOhent.] 
 
 Military service, \ includ- 
 ing fortifications, ord- 
 nance, Indian depart- 
 ment, revolutionary and 
 military pensions, arm- 
 ing the militia, and ar- 
 rearages prior to the 1st , 
 of January, 1817 - '900,000 00
 
 1827.] SECRETARY OF THE TREASURY. 395 
 
 Naval service, including 
 
 the gradual increase of 
 
 the navy - $875,000 00 
 
 Public debt, viz: 
 
 Reimbursement of prin- 
 cipal- 1,500,163 16 
 
 Payment of interest - 852 ; 593 42 
 
 Making the total expenditure of the year 1827 - $22,695,39096 
 
 And leaving in the Treasury, on the 1st of January. 
 1828, an estimated balance of - \ - $6,269,585 29 
 
 It will be observed, from the above statements, that the receipts into the 
 Treasury, from all sources, in 1826, Were $25,260,434 21. The sum at 
 which they were estimated in the annual report of 1825 was $25,500,000. 
 From the statements and estimates applicable to 1827, it will also be observ- 
 ed, that the sums received, and expected to be received, from all sources, 
 during this year, (apart from the moneys paid under the treaty of Ghent,) 
 will amount to 821,401,330 07. The amount at which they were esti- 
 mated, in the annual report of 1826, was $23,150,000. It is therefore ex- 
 pected that the entire receipts of 1827 will be $1,748,669 93 less than the 
 estimates presented in 1826. 
 
 Of this difference, upwards of $400,000 were caused by postponements in 
 the sales of the public lands. The estimate in 1826, of receipts from this 
 source for 1827, was fixed at two millions of dollars. This was founded, 
 in part, as stated in the report, on expected sales of a considerable quantity 
 of relinquished lands in Alabama. These sales having been postponed until 
 1828, the amount which it was anticipated they would yield should there- 
 fore be stricken from the estimate. With this deduction, the amount pro- 
 duced by the sales of the public lands in 1827 will be found to correspond 
 very nearly, in all other particulars, with the estimate. 
 
 The remaining difference has been in the customs. This has proceeded 
 from the uncertainties that attend all estimates of the revenue depending upon 
 foreign commerce itself ever uncertain. These estimates, whether given 
 by this department, or by committees of Congress, specially scrutinizing 
 them under all the lights attainable, have often, heretofore, from causes im- 
 possible to have been foreknown, been disappointed by the result. The 
 disappointment has sometimes been upon a larger, sometimes upon a smaller 
 scale. Such estimates can, therefore, on no occasion be regarded in any 
 other light than as an approximation to that sum, always desirable to be 
 known, but rarely, if ever, in a long series of years, foretold with precision. 
 The estimates presented for 1827 were formed upon bases which had the 
 sanction of past experience in giving reasonable promise of a fair approach 
 to the true result. Whilst, on the one side, expectations of a redundant 
 income should not be too confidently indulged, it becomes a duty, on the 
 other, not to estimate the receipts below the amount which the usual proba- 
 bilities seem to warrant, lest the public service should be stinted in any use- 
 ful particular by the restrained appropriations of Congress. The importa- 
 tions for 1827, taking into the account the calendar year, will, it is believed, 
 as before intimated, exceed the importations for 1826. But those for the 
 first two quarters of 1827 have been very small. Had they borne the same
 
 396 REPORTS OF THE [1827. 
 
 proportion to those of the last two quarters, that the importations of the first 
 two quarters have borne to those of the last two, on an average of five years 
 preceding, the actual receipts into the Treasury from the customs in 1827 
 would have been larger. This effect would have grown out of the terms of 
 credit allowed on duty bonds. By these terms, a portion of the payments 
 always falls due within the year, on importations made during the first six 
 months of the year. The average importations for the first six months, 
 during five years that preceded 1827, were larger than those for the 
 last six months. For 1827, there is every probability that this ratio of 
 importations, on the time of the whole year, will be reversed. It is 
 so, as far as yet ascertained. We are reminded, even by the experience 
 of recent years, of the frequent rariations between the anticipations 
 and the issue in this part of our fiscal system. In 1817, the estimated re- 
 ceipts from the customs were 24,000,000 dollars, and the actual receipts 
 20,283,348 dollars. In 1818, the estimated receipts were 20,000,000 dol- 
 lars, and the Actual receipts 17,176,385 dollars. In 1819. 1820, and 1821, 
 the estimates from the same source were successively given at 21.000,000 
 dollars, 19,000,000 dollars, and 14,000,000 dollars. The sums successive- 
 ly received were, 20,283,608 dollars, 15.005,612 dollars, and 13,004.447 
 dollars. These disappointments sprung from supervenient causes, the 
 means of knowing which did not exist when the estimates were made. 
 There have been, at other epochs, differences much more considerable, 
 which need not be detailed ; yet it nuiy not be irrelevant to the purpose of 
 setting forth the intrinsic uncertainties of this branch of revenue, to add, 
 that for the last of the years here indicated, after the estimate had been given 
 in from the Treasury at 14,000,000 dollars, the proper committee of one 
 of the branches of the legislature, thinking it too low, raised it to fifteen 
 millions. The receipts for that year (1821) scarcely exceeded thirteen mil- 
 lions, as already stated. The allusion to these facts would be incomplete in 
 its purpose, without the further remark, that the affairs of this department 
 are well known to have been conducted with great general accuracy during 
 the years mentioned. 
 
 The balance of $6,269,585 29 that will probably be in the Treasury on 
 the 1st of January, 1828, will be subject to the following charges: 1. The 
 balance of unapplied appropriations which will remain to be satisfied after 
 the 1st of January, 1828, estimated at $3,980,000. 2. About one million 
 of dollars, in funds that cannot be considered as effective, being made up of 
 debts due from banks in several of the States, heretofore used by the Gov- 
 ernment as banks of deposite, or the notes of which were received whilst 
 payments in specie were suspended. As was stated in a former report, the 
 recovery of these debts, though measures to that end are in train, must, in 
 many instances, be regarded as doubtful, and will probably be slow in all. 
 3. The sum of $817,880, being the amount which it is believed will re- 
 main unp.aid of the moneys received under the first article of the treaty of 
 Ghent. v j., 
 
 ESTIMATE OF THE PUBLIC REVENUE AND EXPENDITURE FOR 1828. 
 
 The value of importations into the United States during the year ending 
 on the 30th of September last, is estimated at eighty-one millions of 
 dollars. The exportations for the same period are estimated at eighty mil- 
 lions. When the more exact statistical returns for the year are laid before 
 Congress, as they will be in the course of the session, it will be perceived
 
 1827.] SECRETARY OF THE TREASURY. 39? 
 
 that there has been a diminution in the imports from China, during the 
 present year, as compared with the past ; the diminution has been very 
 considerable, both in teas and silks. This fact will show, in the end, the 
 greater excess of importations from Europe during the present year, whence 
 our foreign manufactures are principally derived. The fourth year is now 
 in progress since the passage of the act of Congress augmenting the duties 
 on imported merchandise ; we are, therefore, at a point enabling us to speak 
 on grounds more authentic than hitherto of the effect of that act upon the 
 foreign commerce of the nation. By comparing the time that has elapsed 
 since its operation with an equal portion of time that preceded, it appears 
 that both the imports and exports have, in the aggregate, increased. They 
 stand thus : total value of importations for the years 1822, 1823, and 1824, 
 two hundred and forty-one millions of dollars ; total for 1825, 1826, and 
 1827, two hundred and sixty-two millions : total value of exportations for 
 the three former years, two hundred and twenty-two millions; total value 
 for the three latter years, two hundred and fifty-seven millions. Fractions 
 are dropped both ways. The result is not effected by the re-exportations 
 of foreign merchandise for the same time, which bear a proportion, as nearly 
 as may be, equal, on the basis of importations for the two periods. It will 
 be understood that, in these statements of importations and exportations for 
 a term of six years, those for 1827 are given by estimate only for a portion 
 of the year ; but it is not believed that there will be any such change in 
 them as to shake the general results. The articles of domestic manufacture 
 exported in 1827 are estimated at upwards of seven millions of dollars ; a 
 sum greater than that to which they have ever before amounted in any 
 one year. 
 
 A tariff of duties upon foreign productions may, without doubt, be so 
 raised as to affect injuriously the interests of foreign commerce. To sup- 
 pose that the tariff of the United States, established by the act of May, 1824, 
 is at such a pitch, would be contrary to analogies afforded by the history 
 of other commercial nations, and, thus far. to the experience of our own. 
 It is believed, on the contrary, that its rates might be augmented in import- 
 ant particulars, without hazarding any such consequences to foreign trade 
 in its ultimate course and aggregate value, and that a true national policy 
 dictates their augmentation. The increase of our imports and exports, since 
 the tariff of 1824, becomes the more striking, from the consideration that, 
 in 1826, there was witnessed in Europe an extraordinary depression of 
 prices. This was followed by a proportionate stagnation in all the opera- 
 tions of purchase and sale. The evil assumed a magnitude, productive, in 
 that hemisphere, not only of great individual suffering, but of anxiety in 
 Governments. It was at such a moment that we began to reap the benefits 
 of the profitable turn given to a portion of the industry of our own country 
 by the provisions of the tariff. Had it not been for the demand of our own 
 manufacturers for some of the agricultural staples of the country, the pre- 
 sumption is authorized that the fall of prices in Europe at that period would 
 have been differently felt by our agricultural classes here. Similar occur- 
 rences abroad had, on former occasions, been followed by pecuniary losses 
 in this country, much more extensive and formidable. The increased num- 
 ber of artisans within our own borders, and greater scope of their operations, 
 evidently tended to leave the agriculturist less exclusively dependant upon 
 foreign markets than if the latter had been his sole reliance. JNor have 
 the benefits of manufacturing industry ended here. The proof strengthens
 
 398 REPORTS OF THE [1S27. 
 
 that many articles have become cheaper, more abundant, and of superior 
 quality, by the effect of competition among the home artisans, than when 
 derived only from abroad. The opening of new objects of labor, by multi- 
 plying the occupations of men, has also increased the public prosperity. 
 This has produced an increased ability to buy all articles of consumption, 
 whencesoever obtained. Hence foreign trade has not declined, of which 
 we have the incontestable evidence just stated, whilst new domestic re- 
 sources in manufacturing labor have been unfolding themselves. As the 
 latter are more amply brought out, it is confidently anticipated that the 
 former will become wider, and more enriching in its range. If the new 
 fields of labor have only, as yet, been opened in particular divisions of the 
 country, other divisions will reap a full measure of benefit. If there can 
 be no dissent to the maxim, as between independent nations, that the pros- 
 perity of one promotes that of another, it cannot be doubted that different 
 parts of the same nation will derive reciprocal prosperity from the same 
 cause. The United States are distinguished in this respect by a lot as pe- 
 culiar as it is favorable : nothing can exceed the inducements to various 
 and subdivided traffic that abound within their own limits. It is here that 
 the economist may hope to see exemplified every essential advantage of the 
 foreign and home trade blended in the same system, moulded by the same 
 policy, and freed from the jealousies that have frustrated, and must ever 
 continue to frustrate, the benevolent but impracticable theories of commer- 
 cial intercourse as between distinct nations. It is not merely that the ex- 
 tent of climate and soil in the Union are adapted to all pursuits that can 
 give activity and fruitfulness to industry under every form \ these are but 
 natural advantages : it is the exchange of the products of industry upon 
 terms the most desirable and the most gainful, throughout so ample an ex- 
 tent of home dominion, that will exalt such natural advantages to the ut- 
 most. It is here that commerce may be carried on, freed from every re- 
 striction, and probably for the first time upon a political and geographical 
 theatre so expanded. The appropriate industry of each portion may go 
 into unfettered action : of Louisiana and of Massachusetts, of Georgia and 
 of Rhode Island. ' A vast home trade, resembling foreign trade, as well by 
 intervening distances as the nature of its exchanges, will be prosecuted, 
 whether along the ocean, or the water highways of the interior, untram- 
 melled by tolls or imposts of any kind, and without even the necessity of 
 custom-houses, or giving to such establishments uses only formal. Such a 
 trade, however, cari only have its proper value by the extensive success of 
 manufactures ; there is nothing else can impart to labor in the United States 
 the necessary variety in its objects, and the necessary regularity and fulness 
 in the demand; there is nothing else can adequately augment and diversify 
 the list of commodities, for which the necessities and enjoyments of im- 
 proved life are ever making calls ; there is nothing else will raise up towns 
 on the surface of our territory at every commanding point, without which 
 land can never be made to yield the full amount of which it is susceptible, or 
 the farmer be sure of steady and remunerating prices. It hardly need be added 
 how a course of policy that would infuse augmented vigor and briskness 
 into a coasting trade, embracing in its range nearly one-half of a continent, 
 would tend to enlarge, in all ways, the essential foundations of naval strength. 
 Manufactures are recommended by every consideration that can bear 
 upon the riches, the security, and the power of the State. The effect upon 
 agricultural prices, produced by the perpetual presence of armies in a coun-
 
 1827.] SECRETARY OF THE TREASURY. 399 
 
 try, will not too strongly illustrate the extent of the benefit that the manu- 
 facturing class renders to the class of farmers. The parallel ends, indeed, 
 here, and ends beneficently ; for whilst the soldier does nothing bat consume, 
 the manufacturer produces as well as consumes ; supplying the farmer with 
 articles as necessary as those which he receives from him. Manufacturing 
 industry advances the intellectual, no less than .the physical, power of a 
 State, by the various knowledge which its complicated pursuits put into 
 requisition. It is the course of industry which must Jay the foundation of 
 those arts which tend to refinement in a nation, for which intellectual na- 
 tions, and none more than republics, have acquired renown. The time has 
 passed when objections might be made to manufactures, from the limited 
 amount of our population and the dearness of labor. The population 
 throughout large portions of the Union is now sufficient, both in amount 
 and density, for any operations of manual labor ; whilst science, by apply- 
 ing its inventions to this kind of labor, has abridged its expensiveness. 
 \Vherea single State of the Union has recently been seen to complete a 
 public work, which, for its great extent and skilful execution, may compare 
 with similar works achieved in any part of the world, it will not readily be 
 believed that the country, of which that State is but a part, can be deficient 
 in the means of prosecuting manufacturing labor, however extended the 
 scale upon which it may be demanded. The completion of such a work, 
 (the New York canal,) is, of itself, a memorial of the highest authenticity 
 that the nation has reached a point qualifying it for whatever undertakings 
 its true interests point out, and to which other nations have been found 
 equal. As little has the objection to manufactures, founded upon moral 
 causes, any place. That they lead to deterioration in portions of the people, 
 is not to be admitted. Facts," on the contrary, teach that the freest and 
 most enlightened, as well as most opulent and powerful countries of 
 Europe, are those in which manufactures bear the greatest proportion to 
 the other productive classes. Their success begets industry, which is fa- 
 vorable to good habits ; it begets prosperity, which supplies them with 
 comforts, and raises up their condition. The remark rests on general re- 
 sults, aside from partial exceptions. It is equally borne out by facts, that 
 countries in which there is an undue predominance of agricultural popula- 
 tion are the poorest, and their inhabitants the most depressed. Sailors, 
 considered as a class, have their lives shortened by the hardships that they 
 undergo ; yet, when was this alleged as a reason for extirpating commerce 1 
 In like manner, that co-equal agent in lifting up the condition of nations 
 manufacturing industry would be entitled to favor, even if partial evils 
 flowed from it, as these must give way in the scheme of society to prepon- 
 derating good. But if authentic information justifies the conclusion that 
 the pursuit of manufactures tends not to deterioration in a people, but the 
 reverse, the policy inculcated acquires new force. The experience of our 
 own country confirms the accounts from others; and we may be allowed to 
 add the hope, that the influence of our political institutions upon individual 
 and social life, will operate to keep up still more the moral tone of this por- 
 tion of our population, as time multiplies its numbers. 
 
 Remarks like the preceding are believed to be justified by the success 
 which manufacturing industry has already attained in the United States, as 
 far as it has received adequate protection. They are conceived to be not 
 less appropriate to the design which is entertained of recommending an in- 
 crease of that protection, where it is most demanded. There is little hazard
 
 400 REPORTS OF THE [1827. 
 
 of a community ever forcing manufactures not adapted to its soil, climate' 
 and all its other capabilities. Still less can the hazard exist, where the 
 powers of legislation are deposited in the hands of those who are imbued 
 with the collective intelligence of the community. Every country pos- 
 sesses its physical characteristics ; as those stamped by its Government, its 
 laws, and the leading wants and tastes of its population. In these lie the 
 causes that make up its inherent capabilities for the pursuit of some branches 
 of industry more than others. Manufactures once established to the proper 
 limit of these, and scope enough will remain for foreign commerce in other 
 commodities, that will come into demand. The demand for others never 
 fails to increase, as increasing wealth at home enlarges the capacity to pro- 
 cure them, and superinduces the new artificial desires that crave them. 
 Wealth at home must increase, as manufacturing labor increases. Money, 
 as representing wealth, must increase ; since each year that witnesses an in- 
 crease in the amount of consumable goods, must witness a proportionate in- 
 crease in the medium necessary to circulate them. These are truths too 
 obvious to be dwelt upon, and too important to national prosperity to be 
 disregarded in practice. Amongst the branches of home industry deserving 
 special care at all times, are those which conduce to subsistence, shelter, 
 clothing, and defence. It is intended, on the present occasion, respectfully 
 to recommend to the consideration of Congress, as classing under one or other 
 of these primary heads, the expediency of increasing the present duties 
 
 1. Upon woollen goods and foreign wool. 
 
 2. Upon fine cotton goods. 
 
 3. Upon bar iron. 
 4< Upon hemp. 
 
 The time that has passed since the tariff' of 1824 has been sufficient to 
 show that the duties fixed by it upon these articles are not adequate to the 
 measure of success in producing them at home which their cardinal import- 
 ance merits. A change, since 1824, in the laws of Great Britain, in regard 
 to those first named, has also rendered almost abortive the provisions of the 
 tariff in their favor. It belongs to the purpose of this report, which looks 
 to the encouragement of the national industry in preference to any that is 
 foreign, here to state, that for a period of six successive years, ending with 
 1826, the value of woollen goods and cotton goods, imported into the United 
 States from the country just named, exceeds one hundred millions of dol- 
 lars ; and the value of iron, and of articles manufactured from iron, seven- 
 teen millions. During one of these years, the woollens exported from that 
 country to this exceeded the amount of those exported to the whole of Eu- 
 rope put together. For the means of exchange against an amount of foreign 
 manufactures so great, the United States have had three principal staples of 
 their soil, viz : wheat flour, tobacco, and cotton. The first of these, the 
 same country has, by her laws, positively or virtually excluded, during the 
 same period of years, from consumption within her domains. The second 
 she has admitted, under a duty of more than six hundred per cent. The 
 third she has received with little scruple. She has known how to convert 
 it into a means of wealth to her own industrious people, greater than had 
 ever before, in her whole annals, been derived from any single commodity. 
 This she has done, first, by working it up for her home use, upon the largest 
 scale ; and next, by making it subserve the interests of her foreign trade. 
 She has sent it over all seas, wherever a market opened, but chiefly back 
 again to us, to be bought, under the enhancements of her own labor, at prices
 
 
 1827.] SECRETARY OF THE TREASURY. 401 
 
 four and fivefold those which she has paid us for it. Commerce, upon the 
 terms attested by such facts, cannot be pronounced just as between the par- 
 ties. The conviction is deeply entertained, that the best interests of the 
 nation point to the expediency of reviewing and correcting a species of 
 commercial intercourse so unequal. It may be applicable to subjoin, that the 
 woollen, cotton, and iron goods, imported from all other parts of the world, 
 during the years indicated, are found to be but about one-sixth part of the 
 value of those obtained from the country whose laws fall with edicts of ex- 
 clusion, or with such disproportionate duties, upon the produce of the United 
 States, not only of the articles mentioned, but more that might be mentioned. 
 The complete establishment of American manufacturers in wool, cotton, 
 iron, and hemp, is believed to be of very high moment to the nation. All 
 the principal raw materials for carrying them on are at hand, or could be 
 commanded. The skill for imparting excellence to them would come at the 
 proper time. There would be no want of labor; to which an abundant 
 water-power, as well as artificial machinery, would everywhere be lending 
 its assistance. Capital would be found for investment in them. If their 
 establishment by the immediate protection of the laws should, at first, raise 
 the cost of the articles, and, for a succession of years, keep it up, a true 
 forecast, looking to the future, rather than adapting all its calculations to 
 the existing hour, would not hesitate to embrace the protecting policy. 
 Nations that would found schemes of solid and durable advantage^ must be 
 ready to do so at the peril of temporary privation. It is the great term of 
 national as of individual superiority and distinction. To buy cheap, is not 
 the only, or always the chief, good. It is for legislators, who have to deal 
 with the practical interests of mankind, to give to abstract propositions the 
 necessary limitations. Considerations, higher than those of present mercan- 
 tile gain, have often swayed the councils of nations of nations, whose wis- 
 dom in this respect we ought not lightly to impugn, any more than we can 
 at all question their long pre-eminence in prosperity. Need it be said that 
 England had her laws to protect her tonnage for more than a century; du- 
 ring all which time she might have employed the tonnage of other states, at 
 a price much below that at which she built and used her own? Need it be 
 added, what results to her maritime and commercial sway have flowed from 
 her resolute perseverance in those laws? Need it be said that France, con- 
 spicuous for positive as for progressive riches, and comforts, and power, still 
 excludes from her territory fabrics that might trench upon the custom of 
 her own workshops, in branches of labor and art believed to be conducive 
 to the national resources, whilst they confer also the means of individual 
 thrift? Shall the many laws of these two great states, at periods when 
 they were laying the foundations of their manufacturing industry, be re- 
 counted, all tending to foster it by inducements the most efficacious laws, 
 to the essential principle of which they still, in so many instances, systemati- 
 cally adhere? Shall we call to recollection, especially, the ordinance of M. 
 Calonne, which invited to France artificers from all nations, allowing them 
 equal privileges with those they enjoyed in their native countries, and grant- 
 ing them an immunity from duties on the importation of the materials used 
 in their manufactures; nay, more, exempting them and their workmen 
 from all personal or other taxes? These, with analogous illustrations, as 
 numerous as applicable, will be forborne, as too familiar to be recapitulated. 
 The protecting laws to our own tonnage, our own coasting trade, our own 
 fisheries, still in force, and which first raised up the prostrate navigation of 
 VOL. ii. 26
 
 402 REPORTS OF THE [1827, 
 
 the United States, may supersede other references. These show how the 
 fathers of the republic were awake to the wisdom of other times and other 
 nations, knowing how to make it their own. Their recorded opinions attest 
 that they were equally awake to the principle of encouraging manufactures, 
 in the broadest sense. If they did not carry it farther into practice, it is be- 
 cause a proper discrimination saw, in the circumstances of that early day, 
 whether as regarded the state of the world from without, or our own inter- 
 nal condition, no sufficient motive for giving to the principle a more ex- 
 tended application. But if this species of industry should not be prematurely 
 gone into, so neither ought the laws to neglect it too long. Excellence is of 
 slow growth. Rarely is it quick or spontaneous in the material, any more 
 than in the moral world. Time is an agent indispensable towards inducting 
 a people into the full knowledge of the manufacturing arts. They are com- 
 plex; they are difficult. They are to be learned only by stages, throughout 
 a long course of application and efforts, as mind is evolved by education ; 
 institutions for promoting which, the laws, in the wisest countries, are care- 
 ful to found and to nurture. When, therefore, neither paucity of popula- 
 tion nor of means any longer hold as reasons for not cultivating these arts 
 amongst us; and when those external circumstances have passed away, 
 which drew nearly all of our population into commerce or into husbandry, 
 the period for permanently fixing them as an integral interest in the state 
 seems fully to have arrived. Whilst we repose in tranquillity, the season is 
 auspicious for entering effectually upon the work of establishing those 
 specially recommended. Should war happen, it is not easy to state the aug- 
 mented resources with which we should meet its exigencies, with these 
 manufactures flourishing in perfection, any more than to portray the incon- 
 venience which we should know in their absence. It is, therefore, from the 
 connexion of their success with the leading interests of the state, in peace or 
 war, that the conviction is felt that it would be expedient to secure their 
 success, even at the sacrifice of cheapness to the individual purchaser. 
 
 But no such consequence is to be apprehended. If it were a question of 
 fostering manufactures for which the circumstances of the country yielded 
 not the abundant facilities, as with England when she fostered by her own 
 laws her own tonnage, then, indeed, could success be accomplished only by 
 indefinite forcing, to be followed by indefinite monopoly in price. Such is 
 manifestly not the case. Manufactures of fine cottons, of woollens of almost 
 all descriptions, of iron articles, and of those from hemp, have already 
 arrived at a point in the United States justifying the conclusion that some 
 additional encouragement from Congress is alone wanting to fix them upon 
 lasting and profitable foundations. This additional encouragement is in- 
 voked as a proper offset to the high degree of success which foreign indus- 
 try has attained in these branches by the effect of capital and skill, long pre- 
 existing in older nations, and long aided by their laws. These are advantages, 
 not intrinsic, but accidental ; yet they cannot be countervailed but by effi- 
 cient legislative aid to our own establishments in the beginning. This 
 afforded, and there is the strongest reason, from past experience, to feel assured 
 that American industry and resources, stimulated into full competition, will 
 supply the commodities cheaper in price, as well as better in quality, than 
 they have heretofore come to us from other countries. The competition, 
 increasing with time, will unfold effects more and more useful. Every 
 branch of manufacture brought into successful operation is apt to become the 
 parent of others. New materials are discovered, new combinations of skill
 
 1827.] SECRETARY OF THE TREASURY. 403 
 
 struck out, new aptitudes developed. Industry becomes awakened, where 
 before it was inactive, carrying the country forward in individual wealth, in 
 general comforts, and in financial power. For promoting the last durably, 
 all expedients must prove fallacious that are not based upon prosperous labor 
 pervading all classes at home. The consumption of the products of every 
 kind of home labor would necessarily increase with the increasing amount 
 of production, and, under more encouragement given to manufactures in the 
 branches recommended, might be expected to yield an excess that would flow 
 into our export trade, augmenting its amount and the amount of its returns. 
 As regards cotton articles, such is the exuberance of the raw material in the 
 United States, that it cannot be assuming too much to suppose that the day 
 is not remote when they will largely supply other countries of the world 
 with these fabrics. Already they have begun to do so, to some extent, with 
 those of the coarser species. European science, applied to the manufactur- 
 ing arts, has indeed returned to India, in the manufactured state, the native 
 cotton of India ; but it will be the effect of our own policy if a similar traf- 
 fic be long permitted to go on between Europe and the United States. That 
 the latter will continue, under all circumstances, to supply Europe with a 
 full portion of raw cotton, cannot be doubted, from the present and growing 
 state of that manufacture in Europe. That they might also be enabled, by 
 the policy recommended, to vie with any nation in sending even to the mar- 
 kets of Europe articles manufactured from this material, is an opinion which 
 is believed to rest upon no exaggerated estimate of their manufacturing 
 ability, however dormant it may be in reference to such a result now. That 
 this invaluable raw material, but thirty years ago scarcely known to our own 
 fields, any more than to the British loom, is destined to draw out a far greater 
 portion of the productive labor of this country than it has yet put into 
 action, and mark an era in its manufacturing, as it has already done in its 
 agricuhural riches, is an anticipation which rational calculations of the future 
 may justify. What is said of our cotton manufactures, may, it is believed, 
 be said with scarcely less confidence, eventually, though perhaps not imme- 
 diately, of those of wool. The latter, from being more complicated in their 
 whole process, and more difficult and costly in the skill necessary to their 
 elaboration, naturally require more time to be reared to perfection. They 
 claim on this account, and claim the more imperiously, the immediate and 
 decisive succor of the laws. 
 
 The opinion that these and other manufactures would come to be afforded 
 to us better in quality when obtained at home, cannot be passed over with 
 only the simple expression of it. It is of a nature entitling it to some further 
 notice. Amongst the disadvantages of manufactures not being more univer- 
 sally established in the United States, we are to rank that of their inhabitants 
 being obliged to use wares of a low quality from abroad. It is known thai 
 a long list of articles is sent to us from both England and France, if not from 
 other countries, which in those countries would be rejected by a large class 
 of consumers. Furthermore, it is true that an article injured in the making, 
 in reference to the highest character of workmanship, will, notwithstanding, 
 be sometimes shipped to this market, in the hope of finding for it bidders that 
 could not so readily be commanded in Europe. If it be said that the wealth 
 of this country does not at present yield a class of purchasers for European 
 articles of the highest workmanship, the answer recurs, that, by multiplying 
 our own workshops, we should, at the proper time, be supplied with like 
 articles. It ought not to be supposed that the resources of our own country,
 
 404 REPORTS OF THE [1827. 
 
 and the ingenuity of our own workmen, could not, under adequate incen- 
 tives, supply them as excellent in quality, and as perfect in finish, as those 
 made elsewhere. And, although it may not now be convenient to any con- 
 siderable class of consumers in this country to make a call for articles of 
 this highest stamp of manufactured excellence at the foreign prices, it is 
 fully believed that the rivalry of numerous artisans at home would raise up 
 skill to a point that would produce such articles, whilst it would bring down 
 the prices to limits that would put them into circulation. It has not escaped 
 observation, that in American manufactures that have already, by the aid 
 of the laws, obtained a preference to the foreign, there is no inferiority, as 
 compared with the best standards of the same species of manufactures pro- 
 duced and consumed in the foreign country. By opening full scope to the 
 competition and talents of our own artisans, the standard of excellence, as 
 well as the faculty of discrimination, would be raised to a higher tone than 
 when the one is formed, and the other exercised, as is now too often the 
 case, upon the secondary productions of other countries. 
 
 In appropriate connexion with these remarks, it may be stated, as a fact 
 also known, that the raw cotton of the first quality and price, which is sent 
 from the United States to Europe, is not that which is returned to the United 
 States when manufactured. On the contrary, it is this species which is for 
 the most part retained for consumption in Europe ; Avhilst fabrics wrought 
 from the inferior cotton are sent off to foreign markets generally, and to 
 those of the United States amongst the number. Further legislative assist- 
 ance to manufactures at this juncture, coming, as it would, after an interval 
 that has left time for the judgment of the nation to pass upon the good effects 
 of the tariff of 1824, as far as it has proved adequate, would impress the con- 
 viction at home and abroad that the manufacturing system was to be incor- 
 porated with the well understood and durable policy of the nation. Be- 
 sides other advantages from this conviction, we might reasonably expect to 
 witness that of seeing a new class of emigrants come to the United States. 
 They would consist not merely of unemployed journeymen from foreign 
 workshops, however useful these may be ; but, in all probability, of master 
 manufacturers of capital and standing. How valuable emigrants of this de- 
 scription would prove, how they would help to quicken the progress of the 
 country in manufacturing skill and general riches, is attested by the experi- 
 ence of all nations, the wisdom of whose laws has superadded such emigrants 
 to their own population. The effect of their coming would not be to injure 
 our own manufacturers. It would benefit them. It would increase their 
 numbers. It would raise more speedily the whole class, by blending it 
 more thoroughly with all the other interests of the state. The foreign artisans, 
 whom Britain sedulously drew to her shores at an early day, fully peopled 
 as the whole of her circumscribed territory then was, in comparison with 
 ours now, rank among the causes that first and most prominently elevated 
 her condition among nations. The effects of their ingenious industry exerted 
 a meliorating influence upon social life, by investing it with new means of 
 accommodation and embellishment, and was soon followed by the largest 
 additions to the rural and commercial prosperity of the whole island. That 
 the productiveness and perfection of English agriculture, at the present day, 
 is owing to the size and power of her manufacturing classes, is a truth not dis- 
 puted. It is these classes to whose hands the harvests of her soil are carried, 
 whether gathered from its surface, or extracted in exhaustless mineral wealth 

 
 1827.] SECRETARY OF THE TREASURY. 405 
 
 from beneath it. and who become the customers of it all the ready, con- 
 stant, unfailing customers. 
 
 There is an inducement to increase legislative protection to manufactures, 
 in the actual internal condition of the United States, which is viewed with 
 an anxiousness belonging to its peculiar character and intrinsic weight. It 
 is that which arises from the great extent of their unsold lands. The mag- 
 nitude of the interests at stake in this part of our public affairs ought not to 
 appal us from approaching it. It should rather impel us to looklit it with 
 the more earnest desire to arrive at correct opinions on any course of legisla- 
 tion that may affect, primarily or remotely, an interest so full of importance. 
 The maxim is held to be a sound one, that the ratio of capital to population 
 should, if possible, be kept on the increase. When this takes place, the de- 
 mand and compensation for labor will be proportion ably increased, and the 
 condition of the most numerous classes of the community become improved. 
 If the ratio of capital to population be diminished, a contrary state of things 
 will be the result. The manner in which the remote lands of the United 
 States are selling and settling, whilst it may possibly tend to increase more 
 quick! y the aggregate population of the country, and the mere means of sub- 
 sistence, does not increase capital in the same proportion. It is a proposition 
 too plain to require elucidation, that the creation of capital is retarded, rather 
 than accelerated, by the diffusion of a thin population over a great surface of 
 soil. Any thing that may serve to hold back this tendency to diffusion from 
 running too far and too long into an extreme, can scarcely prove otherwise 
 than salutary. Moreover, the further encouragement of manufactures by 
 legislative means would be but a counterbalance, and at most a partial one, 
 to the encouragement to agriculture by legislative means, standing out in the 
 very terms upon which the public lands are sold. It is not here intended to 
 make the system of selling off the territorial domain of the Union a subject 
 of any commentary, and still less of any complaint. The system is inter- 
 woven beneficially with the highest interests and destiny of the nation. It 
 rests upon foundations, both of principles and practice,deep and immoveable ; 
 foundations not to be uprooted or shaken. But our gravest attention may. 
 on this account, be but the more wisely summoned to the consideration of 
 correlative duties, which the existence of such a, system in the heart of the 
 state imposes. It cannot be overlooked, that the prices at which fertile 
 bodies of land may be bought of the Government, under this system, operate 
 as a perpetual allurement to their purchase. It must, therefore, be taken in 
 the light of a bounty, indelibly written in the text of the laws themselves, in 
 favor of agricultural pursuits. Such it is in effect, though not in form. 
 
 Perhaps no enactment of legislative bounties has ever before operated 
 upon a scale so vast, throughout a series of years, and over the face of an en- 
 tire nation, to turn population and labor into one particular channel, prefer- 
 ably to all others. The utmost extent of protection granted to manufactures 
 or commerce, by our statutes, collectively, since the first foundation of the 
 Government, has been, in its mere effect of drawing the people of the United 
 States into those pursuits, as nothing to it. No scale of imposts, no prohi- 
 bitions or penalties, no bounties, no premiums, enforced or dispensed at the 
 custom-house, has equalled it. It has served, and still serves, to draw, in an 
 annual stream, the inhabitants of a majority of the States, including amongst 
 them at this day a portion (not small) of the western States, into the settlement 
 of fresh lands, lying still farther and farther off. If the population of these 
 States, not yet redundant in fact, though appearing to be so, under this le-
 
 406 REPORTS OF THE [1827. 
 
 gislative incitement to emigrate, remained fixed in more instances, as it pro- 
 bably would by extending the motives to manufacturing labor, it is believed 
 that the nation at large would gain, in two ways : first, by the more rapid ac- 
 cumulation of capital ; and next, by the gradual reduction of the excess of 
 its agricultural population over that engaged in other vocations. It is not 
 imagined that it would ever be practicable, even if it were desirable, to turn 
 this stream of emigration aside ; but resources opened, through the influence 
 of the laws, in new fields of industry, to the inhabitants of the States already 
 sufficiently peopled to enter upon them, might operate to lessen, in some 
 degree, and usefully lessen, its absorbing force. The eye of legislation, intent 
 upon the whole good of the nation, will look to each part, not separately as a 
 part, but in conjunction with the whole. The rapidity with which, after all, 
 a civilized population, founding new and sovereign communities, will grow 
 up in those exuberant portions of territory, presents considerations favorable 
 to the main policy inculcated. This population, carrying with it the wants 
 and habits of society, will create a demand for manufactures, which must, at 
 least for some time, be supplied from other sources. It will hence form the 
 natural market of purchase and consumption for those produced in other 
 parts of the Union, rather than in foreign countries. By this intercourse 
 we may hope to see multiplied the commercial and pecuniary ties which it 
 is fit should grow up and be cherished throughout the whole federal family, 
 superadding themselves to all other ties, and harmonizing and compacting 
 the elements of a great empire. Should it still be apprehended by any, that 
 evils will be generated in a state of society where large manufacturing 
 classes co-exist with a full population to such minds, the reflection must 
 prove consolatory and re-assuring, that in the public lands a check to these 
 evils will be at hand for ages to come. This immense domain, besides em- 
 bodying all the ingredients, material and moral, of riches and power, through- 
 out a long vista of the future, may, therefore, also be clung to, under the 
 various springs and conjoint movements of our happy political system, as a 
 safeguard against contingent dangers. Its very possession is conceived to 
 furnish paramount inducements, under all views, for quickening, by fresh 
 legislative countenance, manufacturing labor throughout other parts of the 
 Union. It is a power to be turned to the account of manifold and transcendent 
 blessings, rather than reposed upon for aggrandizing too exclusively the in- 
 terest of agriculture, fundamental as that must ever be in the state. Agri- 
 culture itself would be essentially benefited ; the price of lands in all the ex- 
 isting States would soon become enhanced, as well as the produce from them, 
 by a policy that would in anywise tend to render portions of their present 
 population more stationary, by supplying new and adequate motives to their 
 becoming so. And, as it is, the laws that have largely, in effect, throughout 
 a long course of time, superinduced disinclinations to manufacturing labor, 
 by their overpowering calls to rural labor, in the mode of selling off the pub- 
 lic domain, the claim of further legal protection to the former kind of labor, 
 at this day, seems to wear an aspect of justice no less than of expediency. 
 Finally : the great plans of internal improvement, so wisely in prosecution, 
 or contemplated, in different portions of the country, will lose much of their 
 object and value if activity be not imparted to manufacturing industry. The 
 increased facilities of conveyance which these plans are intended to effect, 
 presuppose, as their basis, the necessity of transferring the produce of the 
 country from place to place. How such transfers will be increased by mul- 
 tiplying the products of manufacturing labor, is apparent. New resources
 
 1827.] SECRETARY OF THE TREASURY. 407 
 
 for this kind of labor may be expected to rise up, as these plans are in pro- 
 gress whether by bringing to light occult treasures, or by affording, through 
 improved transportation, the means of use to those already known. And 
 then, as manufacturing enterprise, acting upon a greater variety and abun- 
 dance of materials, shall be seen to enlarge its spheres, how much more re- 
 ciprocally beneficial will not its exchanges become with the produce of the 
 land ? It is this state of things that will emphatically bind together the 
 farmer, the manufacturer, and the merchant, in one indissoluble connexion. 
 Towns and villages may be expected to rise up, in good time, under such a 
 policy, lining the borders of our canals, as of our natural streams. Scenes 
 of stirring industry will strike upon the eye, flowing from various and subdi- 
 vided labor; the aggregate results of all which will stand out in the advanc- 
 ing cultivation and embellishments of the earth, and extended prosperity 
 and happiness of our people. This is the broad policy suited to a nation 
 destined by natural gifts to reach the heights of civilization and power. 
 Such a nation rejects, as too confined, the counsels that would limit her to 
 the walks of agriculture, of commerce, or manufactures, singly; seeing that 
 her resources and aptitudes of all kinds confer upon her the warrant of 
 pre-eminence in each. Unless in this combination, we have beheld no state 
 enjoy any other than an imperfect or transitory greatness. 
 
 Whilst the efficient encouragement of manufactures is earnestly dwelt 
 upon as conducive to the fiscal strength and general prosperity of the Union, 
 the claims of foreign commerce press not less forcibly upon our attention. 
 Each interest is alike entitled, within proper bounds, to the fostering super- 
 intendence of the legislative power. Amongst the expedients for augment- 
 ing the foreign trade of a country, otherwise than in the exports of its own 
 productions, none are believed to be more important than the warehousing 
 system. It was this system that greatly contributed to the commercial riches 
 of some of the European states of the middle ages, and that is now enlarg- 
 ing the commercial dominion of nations of the present day. The situation 
 of the United States, locally ; the number and position of their ports, along 
 so extended a line of coast; the tonnage of which they are actually in pos- 
 session, with the commercial experience of their people, point them out as 
 peculiarly fitted to derive advantage from this system, and serve to recom- 
 mend for it more liberal enactments than any of which it has yet been the 
 subject. By our laws, as they now stand, the merchant is compelled to re- 
 export, within a twelvemonth, the foreign commodity which he has import- 
 ed, or lose the benefit of drawing back the duty he has paid upon it to the 
 Government. Hence, he loses all opportunity, after this limit of time, of 
 sending the commodity to seek foreign markets, when the market at home 
 may fail. The restriction put upon him in this respect ought, it is con- 
 ceived, to be done away, by extending the time during which he might ex- 
 ercise the right of re-exportation. It is not believed that the increased 
 quantity of foreign merchandise, which such an alteration in the laws might 
 be the means of bringing to the country, would interfere with the interests 
 of home manufactures, under the protection claimed for the latter, and the 
 guards with which they might be surrounded. The result might be expect- 
 ed to prove otherwise. At present, whenever a redundancy of foreign goods 
 is seen in the country, (as will happen occasionally in all trading countries, 
 from the impossibility of adapting precisely the supply to the demand,) 
 the excess, if not sent abroad within the year, is thrown upon the home 
 market, at whatever reduction of price. This operates to the injury both of
 
 408 REPORTS OF THE 
 
 '~.~iy. v p 
 
 the home manufacturer and the importer. By enlarging the time of re-ex 
 portation, with privilege ~of drawback, such excess, whenever existing, 
 would be more likely to seek a vent in other countries, and with improved 
 chances of finding it profitable. More especially might the prospects of 
 this trade in re-exportations be increased, if no transit duty existed on for- 
 eign merchandise passing through oiir ports ; the necessary charges being 
 also kept at the lowest possible point. This is a policy which the wisest com- 
 mercial nations have observed. An increased trade in re-exportations, by 
 increasing the carrying trade of the United States, may be expected to in- 
 crease their tonntige ; thus giving new activity to ship-building, so highly 
 important and valuable a branch of manufactures to the country. The as- 
 pect of the times recommends to favorable consideration the alteration in the 
 drawback system proposed. Political and commercial revolutions, occur- 
 ring all around us, remind us of the expediency of reviewing our own com- 
 mercial laws, in points where these revolutions have affected, or may affect, 
 the operation of them. We have seen the principal part of this continent 
 change the relations which it held to Europe. We have seen, as the effect 
 of this and other causes, ancient channels of trade deserted, colonial mo- 
 nopolies give way, and another system open. A new commercial era is be- 
 gun, of which this hemisphere is to be the principal scene. We have be- 
 held the nations of Europe watching the course of these changes, and ac- 
 commodating their policy especially the warehousing policy to the new 
 commercial wants and contingencies which have grown up, or are antici- 
 pated. We have seen, above all, the leading commercial power of Europe, 
 whose wakeful eye is abroad throughout the commercial world, extend this 
 very policy, under new and advantageous facilities, to her insular positions, 
 in seas close to our borders. This she has done with the purpose, not con- 
 cealed, of availing herself of these changes, and of meeting, in the spirit of 
 fair commercial competition, similar measures which she naturally sup- 
 posed would go into effect on the side of the United States. No such mea- 
 sures have been taken by the United States. In the midst of the changes 
 adverted to, our own commercial legislation remains, so far as any bearing 
 upon this new commercial era; is concerned, at the point where it stood 
 more than five-and-twenty years ago. This single exception is in the act of 
 the last session of Congress, authorizing the importation of brandy in casks 
 of smaller size than was permitted by the act of 1799 ; an act obviously de- 
 signed to improve our export trade in this article to the new states of this 
 continent. The merchant, like the manufacturer, and other interests of the 
 state, requires at proper times the assisting hand of legislation ; regulation, 
 in one form or other, being the great end of government, and useful or baf- 
 fling to individual enterprise, as it is wisely or improvidently exerted. 
 
 Should the wisdom of Congress deem an alteration in the laws, with a 
 view to enlarge the privilege of re-exportation, expedient, an authority to 
 build additional warehouses in some of the principal seaport towns would 
 be a necessary adjunct to the alteration. The local accommodation for 
 merchandise that must go into store, under the existing laws, is insufficient. 
 Larger and better constructed edifices are required, even for the present 
 wants of our commerce, and would become altogether indispensable under 
 an extension of the warehousing system. A commerce which yields to the 
 national treasury a revenue of "twenty millions of dollars a year, under a 
 tariff far more moderate, even since 1824, than that which has marked the 
 career of any great state of modern times, is entitled to adequate and liberal
 
 1827.] SECRETARY OF THE TREASURY. 409 
 
 provisions for the machinery necessary for carrying it on. Its local estab- 
 lishments should have reference, as well to the security of the revenue, as to 
 the reasonable accommodation of the merchant, and the prompt despatch of 
 business. It is probably not too much to affirm, that of the foreign mer- 
 chandise, which, under the present commercial code of the Union, is de- 
 posited in warehouses, more than one-half is unduly exposed to depredation, 
 to frauds, and to fire, from the nature and insecurity of the present buildings. 
 They are, besides, too often situated in places remote from the custom- 
 houses and other commercial establishments, and inconvenient otherwise to 
 the transaction of daily commercial business. Under circumstances such as 
 these, the propriety of drawing the attention of Congress to the defects of the 
 warehousing system seems sufficiently justifiable. 
 
 Where interests are multifarious, as in free, populous, and opulent 
 communities must be the case, the hand of Government must be variously ex- 
 tended. Sometimes it is wisely applied to the effective regulation of some 
 of these interests, and sometimes it becomes as necessary to lighten its pres- 
 sure upon others. Not only is it recommended to lessen the restriction 
 which our laws have so long imposed upon the merchant, in an extensive 
 branch of the foreign trade, but it is also conceived that there are articles 
 entering into the list of our imports, the duties upon which it would be ex- 
 pedient to reduce. Amongst these, it is thought proper to mention teas and 
 wines, as being prominent. -, ; . : 
 
 The use of tea has become so general throughout the United States, as to 
 rank almost as a necessary of life. When to this we add that there is no 
 rival production at home to be fostered by lessening the amount of its import- 
 ation, the duty upon it may safely be regarded as too high. Upon some of 
 the varieties of the article, it considerably exceeds one hundred per cent., 
 and is believed to be generally above the level which a true policy points 
 out. A moderate reduction of the duty would lead to an increased consump- 
 tion of the article, to an extent that, in all probability, would, in the end, 
 benefit rather than injure the revenue. Its tendency would be to enlarge 
 our trade in exports to China; a trade of progressive value, as our cottons and 
 other articles of home production (aside from specie) are more and more 
 entering into it. It would cause more of the trade in teas to centre in our own 
 ports ; the present rate of duty driving our tea ships notunfrequently to seek 
 their markets in Europe not in the form of re-exportations, but in the di- 
 rect voyage from China. It would also serve to diminish the risk of the 
 United States ultimately losing any portion of a trade so valuable, through 
 the policy and regulations of other nations. 
 
 The duty upon wines is also believed to be higher than a wise commer- 
 cial and national policy dictates. The experience of our own, as well as 
 other countries, has shown that high duties upon wines do not prove bene- 
 ficial to the revenue. General experience also shows that the consumption 
 of wine tends to diminish the use of ardent spirits. These are inducements 
 for keeping the duties upon wines low. They are strengthened by the con- 
 sideration, that, by lowering them, we shall increase beneficially our trade to 
 the countries whence we obtain wines. Some of these countries are unable 
 to take our productions, unless their wines be received as an equivalent. 
 They are, at the same time, prepared to take them untrammeled by positive 
 or virtual prohibitions. It seems but just that we should take freely the 
 productions of nations that take ours freely. But, in point of fact, the pre- 
 sent rates of our tariff favor most, in many and essential things, the produc- 
 tions of nations that favor ours least. The rate of duty upon wines is not only,
 
 410 REPORTS OF THE [1827. 
 
 in many instances, very high, but very unequal, as regards the different de- 
 scriptions of wines and the countries producing them. The whole subject 
 is thought to demand revision. Upon the superior wines of France, upon 
 those of the Rhine, upon those, generally, of Spain, Portugal, the Italian 
 states, and perhaps some other countries, the duties, it is believed, might be 
 advantageously brought down. The manufacture of wine in the United 
 States does not, at this juncture, comprehend any such large interest as to 
 interpose serious objections to the policy recommended. The opinion may 
 also be hazarded, that, in proportion as the taste for wine comes to prevail 
 over that for ardent spirits, under the encouragement of low duties upon 
 those imported from abroad, will a better basis be laid for the prosecution, at 
 a future day, of this branch of industry at home. Its prosecution might go 
 on, hand in hand, with lower duties on foreign wines, even at the present 
 time ; a very small amount of capital being necessary to the production of 
 wines at home. 
 
 A few remarks upon the state of the trade between the United States and 
 the British colonies, since the interdiction put upon it by Great Britain, will 
 close the more general observations of this report. 
 
 Sufficient time has scarcely elapsed to enable us to determine, with pre- 
 cision, the course that this trade will ultimately take, as regards the amount 
 of supplies, the channels through which they will chiefly pass, and the pro- 
 portions of American and British tonnage likely to be employed in their 
 transportation. The British interdict of July, 1826, left an interval before 
 its actual operation. This did not commence until the 1st of December of 
 that year. The interval, it is understood, was improved in accumulating in 
 the British West India ports supplies of provisions, and other necessary ar- 
 ticles, from the United States. Geographical causes, in their nature un- 
 changeable, render it manifest that such supplies can be sent to the British 
 islands in more abundance, and on cheaper terms, from the United States, 
 than from parts of the world more remote, or from climates less favorable 
 to their production. Nevertheless, the British Government, true to its in- 
 variable maxim of encouraging the industry of its own subjects in preference 
 to that of foreigners, laid duties upon these supplies when coming from the 
 United States, designed to countervail the greater cheapness with which 
 they could be furnished .over similar supplies from the British colonies of 
 North America. It was to no purpose that Britain was urged, in protracted 
 negotiations, to forego this discrimination in favor of her own subjects. She 
 steadily adhered to it : affording a fresh and signal example to other nations, 
 that to protect the agricultural as well as the manufacturing labor of her own 
 people, in whatever region situated, is a point in her policy, to Which that of 
 buying cheap from strangers knows when and how to yield. As the British 
 North American colonies were enabled, with the aid of these protecting 
 duties, to furnish a portion of the supplies necessary to the British islands, 
 leaving the United States to furnish the residue, whilst the direct intercourse 
 between the latter and those islands remained open, it is not believed that 
 the trade, under ordinary circumstances, will be materially affected in amount 
 by the direct intercourse being closed. The continued necessity of draw- 
 ing the major part of those supplies from the United States was seen in the 
 fact of Quebec having been made ah entrepot for their flour and other articles 
 at an early day after the commencement of the interdict ; and. afterwards, by 
 an act of the British Parliament, which -admits, duty free, various products 
 of the United States into Canada, whence their exportation to the islands is
 
 1827.] SECRETARY OF THE TREASURY. 411 
 
 legalized, as of (he proper products of Canada. It is by the establishment 
 of such depots that the desire of Great Britain is also evinced to draw to 
 herself a preponderating share of the carrying trade between her islands and 
 the United States. It is through these circuitous channels also through 
 New Brunswick and Nova Scotia, through the ports and islands of inter- 
 mediate powers, as St. Jago de Cuba, Carthagena, St. Bartholomew's, St. Eus- 
 tatius, St. Thomas that Jamaica and the Windward islands will chiefly 
 derive from the United States the supplies that they have heretofore had 
 from them, and still continue to want. It is even known that biscuit has 
 been shipped from Philadelphia for Jamaica, by way of Liverpool ; and 
 the flour of the' United States, under bonds in the warehouses of Liverpool, 
 will also, it is thought, find its way to consumption in the larger islands of 
 the British West Indies. The Bahamas will probably experience most in- 
 convenience from the course of this trade being forced into these indirect 
 channels, from their relative inability to sustain the increased expense with 
 which it will be burdened. This, we may presume, will be shared by both 
 parties ; the transhipments and other intermediate agencies necessary to keep 
 the trade in activity being, to a certain extent, common to both. What will 
 be the relative proportion of the tonnage of the two nations employed in, 
 carrying on this trade, cannot, at present, be stated with confidence. It is 
 not probable that that of the United States will suffer, where the compe- 
 tition can be made equal ; but it is possible that some diminution of their 
 shipping may be eventually witnessed, in favor of the flag of some third 
 power. It is the declared policy of Britain to produce such a result, rather 
 than allow, by any arrangements which she can control, the tonnage of a 
 nation already as large as that of the United States to become larger. Next 
 to the augmentation of her own tonnage, it is the aim of the British laws to 
 bring into employment the tonnage of the smaller maritime powers of the 
 world. If the anticipation be correct, that the British islands will continue 
 to receive, indirectly, their supplies from the United States, without mate- 
 rial diminution, the revenue will not suffer ; since our exports, through 
 whatever channels they reach the islands, maybe expected to be followed, 
 by equivalent returns. It may be repeated, however, that further time is 
 necessary for establishing definite conclusions upon this and the other 
 points adverted to. It is ascertained that the imports into the United States 
 from the whole of the West India islands, for the first six months of the 
 present year, fall below the average rate of those of the first six months of 
 the three years preceding, including importations from the British islands. 
 On the other hand, our exports to the whole of the West Indies, during the 
 first six months of 1827, have exceeded their average amount for the same 
 period during the three years preceding, including exports to the British 
 islands. 
 
 The estimates, in detail, of the revenue for the ensuing year,, will now be 
 given. For the general observations upon the home industry and foreign 
 trade of the country that have been gone into, the indulgence of Congress 
 is, with the utmost deference, solicited, under the motives that have prompt- 
 ed them. All financial plans must ultimately be dependant upon the flourish- 
 ing state in which a sagacious and comprehensive policy may aid in placing 
 the great agricultural, manufacturing, and commercial interests of the na- 
 tion ; not in a spirit of partisanship for either, but by weighing co-equally 
 the claims of each, and striving to secure the enriching results of all. It 
 is in the anxious endeavor and humble hope of exhibiting them, under this
 
 412 
 
 REPORTS OP THE 
 
 [1827 
 
 alliance, to the correcting and controlling wisdom of Congress, that this 
 report has been prepared. 
 
 The gross amount of duties which accrued on imports and tonnage, 
 .from the 1st of January to the 30th of September last, is estimated at twen- 
 ty-one million two hundred and twenty-six thousand dollars. The gross 
 amount that will accrue for the last quarter of the year, is estimated at five 
 million seven hundred and seventy-four thousand ; making an aggregate 
 of twenty-seven millions for the entire year. 
 
 The debentures for drawbacks issued during the first three quarters of 
 the year amounted to $3,381,942 79 ; and the" amount outstanding on the 
 30th September was $2,516,966 45; of which $1,245,057 17 are charge- 
 able upon the revenue of 1828. 
 
 The amount of duty bonds in suit, on the 30th of September last, was 
 $4,136,812 64 ; which is more, by $128,929 88, than was in suit on the 
 same day of the year preceding. 
 
 In estimating the probable amount of duties that will be received, as 
 compared with the gross amount secured on the importations of the year, 
 the necessary deductions are to be made, not only for drawbacks, but for 
 the expenses of collection, and various losses that may happen. Making 
 what is judged to be a full allowance on all these accounts, for the present 
 occasion, the receipts from the customs in 1828 are esti- 
 mated at $20,372,700 
 Those from the sales of the public lands, 
 
 are estimated at -. 1,400,000 
 
 From bank dividends - 420,000 
 
 And from all other sources 107,300 
 
 Making an aggregate of 
 
 The expenditure for 1828 is estimated as follows, viz : 
 
 $22,300,000 00 
 
 Civil, miscellaneous, and diplomatic 
 
 Military service, including fortifications, 
 ordnance, Indian department, revolu- 
 tionary and military pensions, arming 
 the militia, and arrearages prior to the 
 1st of January, 1817 - 
 
 Naval service, including the gradual in- 
 crease of the navy 
 
 Public debt 
 
 Making a total of 
 
 $1,828,385 14 
 
 And leaving an excess of receipts for the year, over its 
 expenditure, of 
 
 19,947,125 44 
 
 $2,352,874 56 
 
 The estimate of revenue from all sources, for 1828, has been made 
 850,000 dollars lower than that for 1827. This has been done, to guard, as far 
 as possible, against unfavorable contingencies. Nevertheless, the present 
 estimate is formed on a larger amount of duties, secured by bond on mer- 
 chandise imported, than the estimate for 1827. Hence there is reason, 
 from all present appearances, to believe that, although the estimate for 1828 
 is less than that for 1827, the receipts will prove greater. 
 All which is most respectfully submitted. 
 
 RICHARD RUSH. 
 
 TREASURY DEPARTMENT, December 8, 1827.
 
 1827.] 
 
 SECRETARY OF THE TREASURY. 
 
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 SECRETARY OF THE TREASURY 
 
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 416 
 
 REPORTS OF THE 
 E. 
 
 [1827. 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, during the year 1826. 
 
 From arrears of old direct tax $1,514 28 
 
 new direct tax 5,124 48 
 
 new internal revenue 21,589 93 
 
 fees on letters patent 9,420 00 
 
 cents coined at the mint 17,041 00 
 
 postage of letters 300 14 
 
 fines, penalties, and forfeitures 1,382 44 
 
 surplus emoluments of officers of the customs 37,299 20 
 
 interest on balances due by banks to the United States 720 73 
 
 passage money of American seamen returned 50 00 
 received under the act to abolish the United States' 
 
 trading establishments with the Indians 2.959 25 
 moneys previously advanced on account of treaty 
 
 with Spain 327 45 
 
 dividends on stock in the Bank of the United States - 402,500 00 
 
 $500,228 90 
 
 balances of advances made in the War Department, 
 repaid under the third section of the act of 1st 
 May, 1820 25,088 45 
 
 $525,317 35 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1827. 
 
 JOSEPH NOURSE, Register.
 
 1827.J 
 
 SECRETARY OF THE TREASURY. 
 
 417 
 
 .li 23$$i 
 
 F. 
 
 feel vn ' * uiJiK-.'iivji'i 
 
 STATEMENT of the expenditures of the United Slates, for the year 
 
 1826. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ : 
 
 ~- - $493,356 45 
 
 
 " 
 
 Legislature 
 
 Executive departments - 
 
 Officers of the mint 
 
 Surveying department - 
 
 Commissioner of the Public Building 
 
 Governments in the Territories 3 the 
 
 United States 
 Judiciary 
 
 Annuities and grants 
 Mint establishment 
 Unclaimed merchandise 
 
 Light-house establishment 
 
 
 Surveys of public tends - 
 
 Registers and receivers of land offices 
 
 Preservation jf the public archives in 
 
 Florida 
 
 Land claims in Florida Territory 
 Land claims in St. Helena land district - 
 Roads within the State of Ohio - 
 Roads within the State of Indiana 
 Roads and canals within the State of Mis- 
 sissippi 
 Roads and canals within the State of 
 
 Alabama 
 Roads and canals within the State of 
 
 Missouri 
 
 Payment to Ohio, of the nett proceeds of 
 lands sold under the 3d section of the 
 act of the 28th February, 1823 
 Repairing the post road in the Indian 
 country, between Jackson and Colum- 
 bus, in the State of Mississippi 
 Repayment for lands erroneously sold by 
 
 the United States 
 Marine hospital establishment 
 Public buildings in Washington 
 Bringing the votes for President and Vice 
 
 President of the United States 
 Appropriation of prize money 
 Payment of balances due to officers of old 
 
 internal revenue and direct tax 
 Payment of balances to collectors of new 
 
 internal revenue 
 Stock in the Chesapeake and Delaware 
 
 Canal Company 
 
 Stock in the Dismal Swamp Canal Company 
 VOL. ii. 27 
 
 489,776 07 
 9,600 00 
 16,718 82 
 1.699 94 
 
 36.158 82 
 209,455 38 
 
 2,150 00 
 
 34,068 27 
 
 356 06 
 
 188,849 72 
 
 46,769 65 
 
 2,993 96 
 
 750 00 
 9,723 48 
 4,487 16 
 9,799 71 
 7,176 97 
 
 5,888 13 
 12,958 28 
 
 $1,256.745 48 
 
 VT,i 
 
 
 1,385 64 
 
 aoacnbt 
 
 r 9:1 10 
 
 
 
 342 40 
 51,236 98 
 91,271 97 
 
 41 75 
 4,297 45 
 
 35 70 
 
 428 02 
 
 107,500 00 
 150,000 00 
 
 :*' 
 
 Jio'-I
 
 118 
 
 REPORTS OF THE 
 
 [1S27. 
 
 Stock in the Louisville and Portland 
 
 Canal Company $30,000 00 
 
 Payment of claims for property lost .. - 288 75 
 
 Payment of claims ftnr buildings destroy- 
 ed, per act 3d March, 1825 - 208,311 46 
 
 Miscellaneous expenses . 106,777 75 
 
 Diplomatic department - . 152,476 90 
 
 Mission to the Congress of Panama - 9,00000 
 
 Contingent expenses of foreign intercourse 18,627 07 
 
 Relief and protection of American searen 20,061 15 
 
 Treaty of Ghent (6th and 7th articles) \ 10.500 00 
 
 Treaty of Ghent (1st article) 10^000 00 
 Payment of claims under the 9th article 
 
 of the treaty with Spain 9,967 88 
 
 Treaties with Mediterranean powers - 9.086 08 
 
 MILITARY ESTABLISHMENT. 
 
 Pay of the army - , 1,012.24366 
 
 Subsistence - 254,220 41 
 
 Quartermaster's department 301,370 66 
 
 Forage - - 32,253 90 
 
 Clothing 255,770 74 
 
 Bounties and premiums 9,394 T)2 
 
 Expenses of recruiting - 9,041 37 
 
 Medical department 21,454 71 
 
 Purchase of woollens for 1827 - 20.000 00 
 
 Contingencies - 10.787 68 
 
 Military Academy. West Point - 2o',309 32 
 
 Armories 355,117 06 
 
 Arsenals 49,317 86 
 
 Arsenal at Vergennes - 6,400 00 
 
 Arsenal at Augusta 6,392 95 
 
 Ordnance 58,766 63 
 
 Armament of new fortifications - 10,662 93 
 
 Arming and equipping militia - 186,165 71 
 
 Maps, plans, &c. for the War Department 84 87 
 
 Repairs and contingencies of fortifications 9,243 96 
 
 Fort Monroe - - 106,100 00 
 
 Fort Calhoun - 77 400 00 
 
 Fort Delaware - 18,479 75 
 
 Fort at Mobile Point : --' 94,714 99 
 
 Fort Adams 89,221 25 
 
 Fort Hamilton - 78,308 00 
 
 Fort at Rigolets and Chef Menteur ' - 81,32929 
 Fort Jackson - :-' ."''' 75,940 58 
 
 Fort Constitution ... 2,500 00 
 
 Fort Beaufort - 845 00 
 
 Fort at Cape Fear - 57,800 00 
 
 Fort Bienvenue 50,000 00 
 
 Fort at Bogue Point $* . 12,100 00 
 
 $1,110,713 23 
 
 232,719 OS 
 
 $2,600,177 79 

 
 SECRETARY OF THE TREASURY. 
 
 419 
 
 Purchase of Throg's Point - - $15,000 00 
 Deepening the harbor of Presque Isle 9.095 00 
 Repairs of Plymouth beach - 11,00000 
 Preservation of islands in Boston harbor 32,950 00 
 Building pier at the mouth of Buffalo creek - 10,000 00 
 Building pier at Newcastle, Delaware 104 01 
 Building pier on SteePs Ledge, Belfast, Me. - 600 00 
 Survey of public piers at Chester, Pa. 28 28 
 Removing obstructions in the mouth of Hu- 
 ron river, Ohio - 1,500 00 
 Removing obstructions in Grand river 1.000 00 
 Survey of Saugatuck river and harbor, Conn. 400 00 
 Survey of Piscataqua river, Maine - 20000 
 Survey of the harbor of Edgartown, &c. - 500 00 
 Survey of Sandusky bay, Ohio 400 00 
 Survey of Oswego bay and harbor. New York 300 00 
 Survey of Laplaisance bay, Michigan 200 00 
 Removing obstructions in the mouth of Ash- 
 tabula creek, Ohio - , 1,000 00 
 Removing obstructions in Cunningham creek, 
 
 Ohio 1,000 00 
 
 Survey of the Swash, in Pamlico sound, N. C. 1,000 00 
 
 Improving the Ohio and Mississippi rivers - 16,00218 
 
 Surveys, &c., roads and canals 32,887 22 
 
 Continuation of the Cumberland road - 125,469 00 
 
 Road from Ohio to Detroit 14,107 45 
 
 Road from Missouri to New Mexico - 15,000 00 
 
 Road from Memphis to Little Rock - 9,204 00 
 
 Road from Pensacola to St. Augustine 2,069 00 
 
 Road from Little Rock to Cantonment Gibson 2,441 74' 
 
 Road fromColerain to Tampa Bay - 6,000 00 
 
 Road from Cape Sable to Suwanee - 927 85 
 
 Florida canal 16,423 29 
 Balances due to certain States on account of 
 
 militia J 7.039 51 
 
 Interest due to the State of Maryland 66,563 22 
 
 Interest due to the city of Baltimore - 21,710 35 
 
 Interest due to the State of New York 40,264 86 
 
 Interest due to the State of Delaware 6,530 00 
 
 Invalid and half-pay pensions - 251.399 01 
 
 Revolutionary pensions - 1,305.194 82 
 
 Ransom of American captives in the late war 985 IS 
 
 Payment for property lost, &c. 168 25 
 Relief of officers, &c-, engaged in Seminole 
 
 campaign - 3,764 99 
 
 Relief of sundry individuals - 76,649 12 
 
 Arrearages - 15,459 50 
 
 Civilization of Indians - 14,914 09 
 
 Pay of Indian agents - 29,860 32 
 
 Pay of sub-agents - 12,131 59 
 
 Presents to Indians - 16,387 50 
 
 Contingencies of Indian department - - 130,542 12
 
 420 
 
 REPORTS OF THE 
 
 [1827- 
 
 Compensation to citizens of Georgia under 
 
 the Creek treaty of 1821 $23,000 00 
 
 General councils with Indians on Lake Su- 
 perior 27,000 00 
 
 Claims against Osages 2,407 71 
 
 Running a line dividing the Territory of 
 p^lorida from Georgia 
 
 Removal of Creek Indians west of the Mis- 
 sissippi - 564 04 
 
 Relief of the Florida Indians 7,249 75 
 
 Treaty with the Florida Indians 3,218 00 
 
 Creek treaty of 1825 20,813 88 
 
 Creek treaty of 1826 78.658 00 
 
 Choctaw treaty 2,056 51 
 
 Choctaw schools - . 2.804 00 
 
 Holding treaties with the Choctaws and 
 
 Chickasaws 15,000 00 
 
 Effecting 1 the treaties with the Osages and 
 Kanzas - 18,306 18 
 
 Holding treaties with the Miami and Pot- 
 
 tawatamie Indians, <fcc. - 15,000 00^ 
 
 Negotiating and carrying into effect certain 
 
 Indian treaties - " 80,262 29* 
 
 Annuities to Indians 243,542 93 
 
 6.250,693 91 
 From which deduct the following repayments : 
 
 Gratuities 
 
 Fortifications 
 
 Survey of the coast of the 
 
 United States 
 Survey of Marblehead and 
 
 Holmes'sHole 
 Extinguishment of Indian 
 
 titles in Michigan - 
 Purchase of three tracts of land 
 
 in Tuscarawas county* Ohio 
 
 NAVAL 
 
 Pay of the navy afloat 
 Pay of the navy shore stations 
 Provisions 
 Repairs of vessels - 
 Inclined plane docks, &c. 
 Ship-houses 
 Navy yard, Portsmouth 
 Navy yard, Boston 
 Jfavy yard, New York 
 Navy yard, Philadelphia - 
 Navy yard, Washington/ 
 Navy yard, Norfolk 
 Navy vard, Pensacola 
 
 $454 73 
 3,791 31 
 
 2,586 00 
 
 54 76 
 
 507 76 
 
 63 32 
 
 7,457 88 
 
 -$6,243,236 03 
 
 ESTABLISHMENT. 
 
 -. 1,025,968 56 
 
 131,823 56 
 
 289,560 88 
 
 485,970 85 
 
 10,017 41 
 
 44,296 52 
 
 11,216 16 
 
 40,000 00 
 
 53,098 58 
 
 30,490 26 
 
 32,480 74 
 
 54,06388 
 
 40,200 00
 
 1827.] 
 
 SECRETARY OP THE TREASURY. 
 
 Medicines and hospital stores ' ^- T $32,833 18 
 
 Contingent, not enumerated, for 1824 304 15 
 
 Contingent, not enumerated, for 1825 673 88 
 
 Contingent for 1826 V - 238,855 18 
 
 Contingent, not enumerated, for 1826 1,217 80 
 
 Gradual increase of the navy ''";- 793,70492 
 
 Ordnance and ordnance stores _.,% ,36,31284 
 
 Ten sloops of war ['; 506,163 84 
 
 Superintendents, artificers, &c. 53,630 13 
 
 Laborers and fuel for engine 13,461 97 
 
 Survey of Savannah, Brunswick, &c. 1,299 43 
 
 Suppression of piracy 2,559 62 
 
 Prohibition of slave trade - 22,220 81 
 
 Relief of Edward Lee 2,81250 
 
 Pay and subsistence of marine corps 219,686 73 
 
 Clothing for the marine corps 25,960 47 
 
 Medicines for the marine corps - 2,283 28 
 
 Military stores for the marine corps 1,559 70 
 
 Contingent expenses of the marine corps -"" 14,096 23 
 
 Fuel for the marine corps 9,321 45 
 
 Barracks for the marine corps 5,838 23 
 
 4.233,983 74 
 
 From which deduct the following repay- 
 ments, viz : 
 
 Navy yards, docks, and 
 
 wharves - $2,843 23 
 
 Contingent prior to 1824 - 8,520 05 
 Contingent for 1824 - 1,43122 
 Contingent for 1825 58 09 - 
 
 Arrearages of contingent, 
 
 marine corps - - 2,228 70 
 
 $4,218,902 45 
 
 PUBLIC DEBT. 
 
 Interest on the funded debt - 3,975,542 95 
 
 Redemption of 6 per cent stock of 1813 
 
 (7 millions) - 5,062,402 50 
 
 Redemption of 6 per cent, stock of 1813 
 
 (16 millions) - - 2.002,306 71 
 
 Redemption ef 7 per cent, stock of 1815 
 Reimbursement of Mississippi stock 
 Principal and interest of Treasury notes - 
 Paying certain parts of domestic debt 
 
 25 00 
 450 00 
 327 17 
 
 27 86 
 . 11,041,082 19 
 
 24,103,398 46 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1827. 
 
 JOSEPH NOURSE, Register.
 
 
 422 
 
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 SECRETARY OF THE TREASURY. 
 
 423 
 
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 424 REPORTS OF THE [1827. 
 
 .Y.r*"J^/;S.;; "-'FiT -V ' ' ;' 
 
 H. 
 
 STATEMENT of moneys received into the Treasury, from all sources 
 other than customs and public lands, from the 1st of January to the 
 30*A September, 1827. 
 
 From dividends on stock in the Bank of the United States $420.000 00 
 
 awards under the first article treaty of 
 
 Ghent, for slaves and other property $602,480 00 
 
 arrears of new direct tax 2,626 90 
 
 new internal revenue 18,149 23 
 
 fees on letters patent - 8,130 00 
 
 cents coined at the mint 14,376 32 
 
 postage of letters 101 00 
 
 fines, penalties, and forfeitures 20 00 
 
 surplus emolument of officers of the 
 
 customs 27,880 49 
 
 interest on balances due by banks to 
 the United States 
 
 nett proceeds of vessels condemned 
 
 under the slave trade acts - 4,791 18 
 
 it person unknown, stated to be on ac- 
 count of duties on imports and tonnage 6 00 
 
 681,561 12 
 
 balances of advances made in the War Department, 
 repaid under the third section of the act of 1st May, 
 1820 - - __-.. . 32,344 98 
 
 $1,133,906 10 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1827. 
 
 JOSEPH NOURSE, Register,
 
 1327.] 
 
 SECRETARY OF THE TREASURY. 
 
 42 
 
 $936,205 07 
 
 I. 
 
 STA TEMRNT of the expenditures of the United States, from 
 
 1st of January to the 3Qth of September, 1827. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ : 
 
 Legislature ^, - $308,589 25 
 
 Executive departments - 394,437 74 
 
 Officers of the mint 7,200 00 
 
 Surveying department - 21,011 54 
 Commissioner of the Public Buildings in 
 
 Washington - 1,195 06 
 Governments in the Territories of the 
 
 United States - , - 36,077 40 
 
 Judiciary 167,694 08 
 
 Annuities and grants - 1,600 00 
 
 Mint establishment 35,588 86 
 
 Unclaimed merchandise 263 92 
 
 Light-house establishment 203,678 68 
 
 Surveys of public lands - 48,593 15 
 
 Registers and receivers of land offices 2.631 14 
 Preservation of the public archives in 
 
 Florida 1,125 00 
 
 Land claims in Florida Territory 1,971 24 
 
 Land claims in St. Helena land district - 1,502 78 
 
 Roads within the State of Ohio - 2,452 90 
 
 Roads within the State of Indiana 7,352 54 
 
 Roads and canals in the State of Alabama 6,540 36 
 
 Roads and canals in the State of Missouri 1,981 45 
 
 Roads and canals in the State of Mississippi 4.717 11 
 Repairing the post-road between Chata- 
 
 hoochie and Line creek, Alabama 6,000 00 
 
 Marine hospital establishment - 46,511 04 
 
 Public buildings in Washington 135,727 35 
 
 Appropriation of prize money 2,202 50 
 Payment of balances to collectors of new 
 
 internal revenue 2,559 73 
 Stock in the Louisville and Portland Ca- 
 nal Company - 30,000 00 
 Payment of claims for property lost 191 25 
 Payment of claims for buildings destroyed 4,218 45 
 Miscellaneous expenses - 48,060 29 
 
 Diplomatic department - 85,260 75 
 
 Mission to the Congress of Panama 17,022 08 
 
 Contingent expenses of foreign intercourse 18,609 00 
 
 Relief and protection of American seamen 25,531 90 
 
 Treaty of Ghent, (6th and 7th articles) - 7,500 00 
 
 Treaty of Ghent, (1st article) - , 10,206 44 
 
 Claims on Spain 1,817 72 
 
 Treaties with Mediterranean powers - ^ 21,505 54 
 
 the 
 
 595,469 74
 
 426 
 
 REPORTS OF THE 
 
 [182- 
 
 Awards under the 1st article of the treaty 
 
 of Ghent $294,392 23 
 
 MILITARY ESTABLISHMENT. 
 
 Pay of the army - - $722,788 60 
 
 Subsistence 171,199 40 
 
 Forage - 34,992 30 
 
 Quartermasters department ^22600 13 
 Arrearages of quartermaster's depart. ^ 
 
 Arrearages of army 17,741 03 
 
 Bounties and premiums 11,163 87 
 
 Purchasing department 150,239 60 
 
 Expenses of recruiting - 8,460 14 
 
 Purchase of woollens for 1828 - 10,000 00 
 
 Ordnance 15,115 57 
 
 Arming and equipping the militia 156,603 03 
 
 Hospital department *" 21,147 84 
 
 Armories 281,047 27 
 
 Arsenals 31,564 96 
 
 Arsenal at Vergennes r 8)600 00 
 
 Arsenal in Georgia 14,286 69 
 
 Arsenal at St. Louis 15,000 00 
 
 Arsenal at Augusta, Maine 2,081 60 
 
 Contingencies - 10,232 30 
 
 Repairs and contingencies of fortifications 22,918 73 
 
 Fort Monroe - 73.643 97 
 
 Fort Calhoim - 38,526 24 
 
 Fort Adams 83,015 00 
 
 Fort Hamilton - , 58,034 09 
 
 Fort Jackson 72,144 78 
 
 Fort Delaware 1 28 
 
 Fort at Cape Fear 29,930 00 
 
 Fort at Beaufort 44,364 42 
 
 Fort at Bienvenue - 40,000 00 
 
 Fort at Mobile Point - 72,951 46 
 
 Fort at Rigolets - 30,000 00 
 
 Armament of new fortifications - 39,054 40 
 
 Surveys, &c. of roads and canals 47,405 70 
 
 Continuation of the Cumberland road - 118,000 00 
 
 Preservation of the Cumberland road 9,000 00 
 
 Repairs of the Cumberland road 510 00 
 
 Road from Memphis to Little Rock 2,000 00 
 
 Road from Little Rock to Canton't Gibson 2,000 00 
 
 Road from Fort Smith to Fort Towson - 2,000 00 
 King's road, from the Georgia line, (by 
 
 St. Augustine to New Smyrna) 3,000 00 
 
 Improving the Ohio and Mississippi rivers 18,216 00 
 
 Improving the navigation of theOhio river 9,000 00 
 
 ImprovingHyannis harbor, Massachusetts 1,000 00 
 
 Improving Cleaveland harbor Ohio 1,500 00 
 
 Improving Pascagoula harbor, Miss, river 8.000 00 
 
 Deepening the harbor of Presque Isle - 5.484 81 
 
 $481,845 66 

 
 SECRETARY OF THE TREASURY. 
 
 427 
 
 Preservation of islands in Boston harbor 
 Repairs of Plymouth beach 
 Removing obstructions in Huron creek, Ohio - 
 Removing obstructions in Cunningham creek, 
 
 Ohio 
 
 Removing obstructions in Ashtabula creek, Ohio 
 Removing obstructions in Grand river creek, O. 
 Removing obstructions in Mobile harbor, Ala. 
 Building piers on Steel's ledge, Belfast, Maine - 
 Building piers at Buffalo creek 
 Piers, beacon. &c., in the harbor of Saco, Maine 
 Examining piers at Port Penn, Marcus Hook, 
 
 and Fort Miffliii - 
 Survey of a canal from the Atlantic to the Gulf 
 
 of Mexico - - - - - 
 
 Connecting the Detroit and the river Raisin 
 
 with the Maumee and Sandusky roads 
 Piers at the mouth of Oswego harbor, New 
 
 York tf' ,: 
 Piers at the mouth of Dunkirk harbor, New 
 
 York ^ - 
 
 Piers at Laplaisance bay, Michigan 
 Removing obstructions in Saugatuck river, &c. 
 Boundary lines between Georgia and Florida 
 Erection of a wharf at Fort Wolcott, Rhode 
 
 Island 
 Purchase of a house and lot of land, Eastport, 
 
 Maine 
 
 Purchase of lots at St. Augustine, Florida. 
 Barracks at Savannah 
 Barracks at Michilimackinac - 
 Military cantonment near St. Louis - 
 System of cavalry, artillery, and infantry exer- 
 cise - . - 
 Settlement of Georgia militia claims - 
 Military Academy. West Point 
 Maps, plans, &c.. War Department - 
 Suppression of Indian aggressions on frontiers 
 
 of Georgia and Florida 
 Revolutionary pensions 
 Invalid and half-pay pensions 
 Pensions to widows and orphans 
 Surveying the harbor of Church's cove, R. I. - 
 Surveying the harbor of Stonington, Conn, 
 Surveying the roads from Detroit to Saginaw, 
 
 Fort Gratiot, and Huron lake 
 Opening and constructing the Detroit and Chi- 
 cago roads 
 Relief of officers, &c., engaged in Seminole 
 
 campaign - J ' : - 
 
 Interest due the State of Pennsylvania 
 Relief of Captain Bigger's company of rangers 
 
 - 
 
 $9.115 27 
 2,184 90 
 3 ; 500 00 
 
 1,000 00 
 9,698 00 
 4,620 00 
 5 3 605 78 
 400 00 
 5,000 00 
 4,450 00 
 
 100 00 
 
 2,755 00 
 
 12,000 00 
 
 3,533 06 
 
 3,000 00 
 
 1,000 00 
 
 1,500 00 
 
 3,745 80 
 
 500 00 
 
 1,800 00 
 
 600 00 
 
 11,414 40 
 
 2,000 00 
 10,108 18 
 
 1,675 24 
 
 50,600 00 
 
 24,895 00 
 
 62 00 
 
 10,887 81 
 
 796,381 93 
 
 172,033 86 
 
 8,802 47 
 
 200 00 
 
 200 00 
 
 1,500 00 
 20,000 00 
 
 747 01 
 
 17,577 60 
 
 4,474 41
 
 428 
 
 REPORTS OF THE 
 
 [1827, 
 
 Payment of claims for property lost - $40 00 
 
 Relief of sundry individuals - 10,61380 
 
 Carrying into effect certain Indian treaties - 149,141 06 
 
 Rations to Florida Indians - - 30,015 96 
 
 Relief of Florida Indians - 12,75025 
 Running the line of land assigned to Florida 
 
 Indians 330 56 
 Presents to Indians - - 13,390 45 
 Contingencies of Indian department - 98,377 94 
 Creek treaties - 96,464 51 
 Treaty with the Choctaw and Chickasaw In- 
 dians - 2,445 37 
 Effecting certain Indian treaties, act 20th May, 
 
 1826 2,800 00 
 
 Removal of the Creeks west of the Mississippi 29,080 82 
 
 Civilization of Indians 8,629 84 
 
 Pay of Indian agents - 25,60665 
 
 Pay of sub-agents - 11.840 36 
 
 Indian annuities - - 206,443 24 
 
 Treaty with the Choctaws, 3d March, 1821 - 148 00 
 
 Choctaw schools, treaty 18th October, 1S20 - 7,074 57 
 
 4,751,426 31 
 
 From which deduct the following repayments : 
 
 Fortifications - $53 19 
 
 Survey of Marblehead and Holmes's 
 
 hole - . - 95 82 
 
 Road from Pensacola to St. Augustine 546" 00 
 Road from Colerain to Tampa bay - 84 00 
 Holding treaties with Indians in In- 
 diana - 2 27 
 Road from Ohio to Detroit - - 373 88 
 
 1,155 16 
 
 NAVAL ESTABLISHMENT. 
 
 Pay of the navy afloat 
 
 Pay of the navy shore stations 
 
 Provisions 
 
 Repairs of vessels 
 
 Navy yards, docks, &c. 
 
 Navy yard, Pensacola 
 
 Medicines and hospital stores - 
 
 Ordnance and ordnance stores 
 
 Ten sloops of war 
 
 Repairs of sloops of war 
 
 Gradual increase of the navy 
 
 Gradual improvement of the navy 
 
 Prohibition of the slave trade 
 
 Superintendents, artificers, &c. 
 
 $1,053,576 21 
 
 - 135,730 14 
 
 - 276,009 45 
 
 - 344,936 57 
 
 - 174,039 53 
 
 - 52,516 21 
 
 - 26,631 84 
 
 - 36,874 00 
 
 - 184,804 24 
 
 - 20,181 38 
 
 - 625,952 51 
 
 - 68,095 88 
 
 - 26,651 59 
 
 - 55,676 02 
 
 1,750,271 15
 
 1827.] 
 
 SECRETARY OF THE TREASURY. 
 
 429 
 
 Suppression of piracy 
 
 Survey of the harbors of Savannah, 
 
 Brunswick, &c. 
 Arrearages prior to 1827 
 Surveys and estimates for dry docks 
 Contingent, prior to 1824 
 Contingent for 1825 
 Contingent, not enumerated, 1826 
 Contingent for 1827 
 Contingent, not enumerated, 1827 
 Pay, &c., marine corps - 
 Clothing, marine corps - 
 Fuel, marine corps 
 Medicines, marine corps 
 Barracks, marine corps - 
 Military scores, marine corps 
 Contingent, marine corps 
 Contingent arrearages, marine corps 
 Contingent, additional, 1826, marine corps 
 
 From which deduct the following repay- 
 ments : 
 
 - $'67 16 
 
 58 33 
 
 - 579 62 
 
 - 575 52 
 Contingent, not enumerated, 1825 108 88 
 
 2,260 10 
 
 $1,162 65 
 
 1,503 00 
 
 13,686 90 
 
 2,707 27 
 
 10,486 60 
 
 216 66 
 
 3,384 31 
 
 191,528 56 
 
 929 37 
 
 127.257 48 
 
 11,848 86 
 
 3,413 31 
 
 717 55 
 
 149 41 
 
 402 00 
 
 8,619 27 
 
 2.2SS 70 
 
 '308 05 
 
 3.462.225 52 
 
 Building barges 
 Five schooners 
 Swords and medals 
 Contingent for 1824 
 
 - \ 
 
 Contingent for 1826 
 
 tj 
 
 PUBLIC DEBT. 
 
 Interest on the funded debt 
 Redemption of six per cent, stock of 1813. 
 
 (loan of 16 millions) - 
 Interest on Louisiana stock 
 Reimbursement of Mississippi stock 
 Paying certain parts of domestic debt 
 Paying the principal and interest of Trea- 
 sury notes 
 
 3,649 61 
 
 $3,458,575 91 
 
 * f i -i- 
 
 2,652,983 49 
 
 5.007,303 69 
 3,562 30 
 742 48 
 21 12 
 
 8,410 36 
 
 From which deduct the following repay- 
 ment: 
 
 Redemption of six per cent, stock of 1813, 
 (7^ millions) 
 
 7,673,023 44 
 
 01 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, November 28, 1827. 
 
 $17,895,390 96 
 
 JOSEPH NOURSE, Register.
 
 430 REPORTS OF THE [1827. 
 
 No. 1. 
 
 STATE ME NT of the public debt on the 1st of October, 1827. 
 
 Three per cent, stock ~, - $13,296.247 70 
 
 Six per cent, stock of 1813 - $4,244,5.87" 07 
 
 Six per cent, stock of 1814 - 13,096,542 90 
 
 Six per cent, stock of 1815 - - 9.490,099 10 
 
 26,831,229 07 
 Five per cent, stock, (subscription to Bank 
 
 United States) -' - 7,000,00000 
 
 Five per cent, stock of 1820 999,999 13 
 
 Five per cent, stock of 1821 - 4.735,296 30 ' 
 
 Exchanged live per cent, of 1 822 56,704 77 
 
 12,792,00*0 20 
 
 Four and a half per cent, stocks of 1824 - 10,000,000 00 
 Exchanged 4i per cent, stock of 1824 - 4,454.727 95 
 Exchanged 4| per cent, stock of 1825 - 1,539.336 16 
 
 15,994,064 11 
 
 Total $68,913,541 08 
 
 Amount of the debt on the 1st of October. 1826, (per statement No. 3.) 
 which accompanied the Secretary's report of the 12th of December. 
 1826 - - $75.923,151 47 
 
 Deduct six percent. stock paid off, viz: 
 
 On the 1st January, 1827 - - $2.002,306 71 
 
 On the 1st July, 1827 - - - 5,0^,303 68 
 
 ' 7,009,610 39 
 
 Leaves the amount, on the 1st of October, 1S2", as above stated 68,913,541 08 
 From which, by deducting the amount to be paid at the 
 
 close of the present quarter - 1,500,163 16 
 
 Will leave, as the amount of the putoc debt on the 1st of 
 January, 1828 - - $67,413,377 92 
 
 The public debt on the 1st of January, 1825, amounted to $83,710,572 60 
 Add 4^ per cent, stock issued since, under the act of 26th 
 
 May, 1824 - $5,000,000 00 
 
 And 3 per cent, stock 16 -25 
 
 5,000,016 5 
 
 $88,710,588 85 
 
 Deduct payments of principal, viz: 
 In 1825 - - 7,725,034 88 
 
 In 1826 - 7,064,709 21 
 
 In 1827, including payment at the close of 
 
 the year ~ 6,507.466 84 
 
 '- 21,297,210 93 
 
 Amount, as above, on the 1st of January, 1828 $67,413,377 92 
 
 TREASURY DEPARTMENT, Register's Office, Dec. 1, 1827. 
 
 JOSEPH NOURSE, Register.
 
 1S27.] SECRETARY OF THE TREASURY. 431 
 
 No. 2. 
 
 ESTIMATED AMOUNT of Treasury notes outstanding on the 1st of 
 
 October, 1827.. 
 
 Total amount issued, (as per No. 4 of last report) - $36,680,794 
 
 Cancelled and reported on by the First Auditor 36,669,854 
 
 Outstanding 
 
 Consisting of small Treasury notes - $2,180 
 
 notes bearing interest - 8,760 
 
 $10,940 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December S, 1827. 
 
 JOSEPH NOURSE, Register. 
 
 No. 3. 
 
 STATEMENT of the stock issued under t/te act of Congress entitled 
 " An act supplementary to the act for the indemnification of certain 
 claimants of public lands in the Mississippi Territory" passed on the 
 3d of March, 1815. 
 
 Amount of claims awarded, per statement No. 5 of the last 
 report - - $4,282,151 
 
 Whereof there was paid in for lands, per said report - $2.447,539 39 
 Payments at the Treasury to the 30th Sep- 
 
 tember, 1826, per said statement - $1,827,215 56 
 
 Payments from 1st October, 1826, to the 
 
 30th September, 1827 - - 742 48 
 
 -- 1,827,958 04 
 Balance outstanding on 1st October, 1827. consisting of 
 
 Certificates outstanding 6,609 09 
 
 Awards not applied for - 44 60^ 
 
 6,653 69 
 
 $4,282,151 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 8. 1827. 
 
 JOSEPH NOURSE, Register.
 
 432 REPORTS OF THE [1827. 
 
 TREASURY DEPARTMENT, 
 
 May 16, 182S. 
 
 SIR : I have the honor to transmit a letter of the Register of the Trea- 
 sury, accompanied by statements, marked B and C ; which were referred to 
 in the statement marked A, annexed to the annual report of this depart- 
 ment on the state of the finances, dated the 8th of December last. State- 
 ment B exhibits, in detail, the duties on merchandise, tonnage, &c. ; and 
 statement C exhibits the amount of tonnage employed in the foreign trade 
 of the United States. 
 
 T have the honor to be, very respectfully. 
 
 Your obedient servant. 
 
 RICHARD RUSH. 
 The Hon. the PRESIDENT OF THE SENATE.
 
 SECRETARY OF THE TREASURY. 
 
 433 
 
 B. 
 
 A STA TEMENT exhibiting the values and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1826, 
 (consisting of the difference betiveen articles paying duty, imported, 
 and those entitled to drawback, re-exported ;) and also, of the neit reve- 
 nue whicW accrued that year, from duties on merchandise, tonnage, 
 passports, and clearances. 
 
 MERCHANDISE PAYIXG DUTIES AD VALOREM. 
 
 5,031 dollars, at 12 per cent. - 
 
 1 , 296, 182 dollars, at 12| per cent. - 
 3,8-24,710 dollars, at 15 per cent. - 
 4,592,965 dollars, at 20 percent. - 
 17,012,114 dollars, at 25 per cent. - 
 1,416, 166 dollars, at 30' percent. - 
 5^835,605 dollars, at 33i per cent/ - 
 3,327 dollars, at 35" per cent. - 
 92,64-2 dollars, at 40 percent. - 
 340,782 dollars, at 50 per cent. - 
 
 $603 7-3 
 162,022 75 
 573,706 50 
 918,593 00 
 4,403,028 50 
 424,849 80 
 1,945,201 67 
 1,164 45 
 37,056 80 
 170,391 00 
 
 $8 636 618 19 
 
 35,019,524 
 
 
 
 DUTIES OX SPECIFIC ARTICLES. 
 
 1. Wines, 2, 767, 893 gallons, at 25.71 cents,' average - 
 2. Spirits, 3,322,380 gallons, at 43.54 cents, average - 
 Molasses, 13,661,635 gallons, at 5, .cents 
 3. Teas, 8,816,225 pounds, at 34.32 cents, average - 
 Coffee, 26,449,35(5 pounds, at 5 cents .- 
 4. Sugar, 73,451,591 pounds, at 3.06 cents,- average - 
 5. Salt. 3,104,668 pounds, at 20 cents'' -..-', 
 6. All other articles - 
 
 711,790 10 
 1,446,559 00 
 '683,081 95 
 3,0-26,140 42 
 1,322,467 80 
 2,246.942 11 
 620,933 60 
 1,953,944 10 
 
 12,011,859 08 
 
 Deduct duties refunded, after deducting therefrom duties on 
 merchandise, the particulars of whjch oould not be ascer- 
 tained, and difference in calculation V' ,''..' ;' 
 
 ; 
 
 20,648,477 27 
 14,795 51 
 
 > 
 
 Add 2j per cent, retained on drawback 
 10 per cent, extra duty on foreign vessels 
 discriminating duty on French vessels - 
 interest on custom-house bonds - 
 storage received 
 
 140,^39 89 
 18,140 94 
 1,067 57 
 14,632 14 
 3,628 03 
 
 20,633,681 76 
 177 708 57 
 
 
 
 
 Duties on merchandise 
 Duties on tonnage 
 Light money - 
 
 128,553 84 
 21,516 71 
 
 20,811,390 33 
 150 070 55 
 
 Passports and clearances 
 
 5*v- S - ' 
 
 11,716 00 
 
 Deduct drawback on domestic refined sugar 
 drawback on domestic distilled spirits 
 dra-wback under the convention with France 
 
 2,627 57 
 6.561 03 
 N 30 83 
 
 20,973,176 88 
 9 219 43 
 
 
 
 
 Gross revenue 
 Expenses of collection 
 
 - 
 
 20,963,957 45 
 715,903 15 
 
 Nett revenue - 
 
 :-'.-' 
 
 20,248,054 30 
 
 VOL. ii. 28
 
 434 
 
 REPORTS OF THE 
 
 Explanatory Statements and Notts. 
 
 [1827. 
 
 1. Wines 
 Madeira , - . - - 
 Burgundy and Champagne 
 Sherry and St. Lucar 
 Lisbon, Oporto, &c. 
 Tene rifle, Fay'al, &c. 
 Claret, &e. bbttled - 
 All other - 
 
 2. Spirits 
 From grain, Isi proof 
 2d do. 
 3d do. 
 4th do. 
 5th do. 
 Other materialsSd do. 
 3d do. 
 4th do. 
 Above 5th do. 
 
 Deduct exported O. spirits 5th proof 
 
 3. Teas 
 Bohea 
 Souchong - 
 Hyson skin, &c. 
 Hyson and young hyson 
 Imperial 
 Extra duty en teas imported from 
 other places than China 
 
 4. Sugar 
 "Brown 
 White, clayed, &c. - 
 
 5. Salt- 
 Imported - ' bushels 
 Exported - bushels 
 Bounties and allowances re- 
 duced into bushels, at 20 
 cents 
 
 \ 
 
 128,515 gallons, at 100 cents - 
 15,99-2 gallons, at 100 cents - 
 28,041 gaillons, at 60 cents - 
 308, 557 gal ! on s, at 50 cents - 
 166,317 gallons, at 40 cents - 
 7*7,217 gallons, at 30 cents - 
 2,043,254 gallons, at 15 cents - 
 
 $128,515 00 
 15,992 00 
 16,824 (50 
 154,278 50 
 66,526 80 
 23,165 10 
 306,488 10 
 
 2,767,893 
 
 711,790 10 
 
 331 ,827 gallons, at 42 cents - ' 
 1 7 , 167 gallons, at 45 cents - 
 39, 903 gallons, at 48 cents - 
 6,931 gallons, at 52 cents - 
 8,516 gallons, at 60- cents - 
 685,822 gallons, at 38 cents - 
 1 ,003,874 gallons, at 42 cents - 
 1 ,234,468 gallons, at 48 cents - 
 2,371 gallons, at 70 cents - 
 
 139,367 34 
 7,725 15 
 19,153 44 
 3,604 12 
 5,109 60 
 260,612 36 
 421,627 OS 
 592,544 64 
 1,659 70 
 
 3, 330, 879 gallons 
 8,499 gallons, at 57 cents - 
 
 1,451,403 43 
 
 4,844 43 
 
 3,322,380 gallons 
 
 1,446,559 00 
 
 _ . f 
 
 188,321 pounds, at 12 cents - 
 1 ,550,016 pounds, at 25 cents - 
 2, 205, 586 pounds, at 28 cents - 
 4,407, 145 pounds, at 40 cents - ' 
 485,157 pounds, at 50 cents - 
 
 22,598 52 
 387,504 00 
 617,564 08 
 
 1,762,858 00 
 232,578 50 
 
 3,037 32 
 
 8, 816, 225 pounds 
 
 3,026,110 42 
 
 c 
 
 69, 112,185 pounds, at3 cents - 
 
 4. 339, 4 14 pounds, a.t 4 cents -.- 
 
 2,073,365 55 
 173,576 56 
 
 73, 451, 599 pounds 
 
 2,246,942 11 
 
 - 4,297,861 at 20 cents - 
 44,777 
 
 1,148,416 
 
 ..- . ... i 193 193 at 20 cents 
 
 859,572 20 
 
 238,638 60 
 620,933 60 
 
 3, 104, 668 at 20 cents -
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 435 
 
 6. All other articles. 
 
 
 Quantity. 
 
 Rate of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Carpeting Brussels, Wilton, &c. 
 Venetian and ingrain 
 
 - yards 
 do. 
 
 54,380 
 618,793 
 
 50 
 
 25 
 
 $27,19000 
 154,698 25 
 
 all other 
 
 - do. 
 
 10,303 
 
 20 
 
 2,060 60 
 
 Cotton bagging - 
 
 - do. 
 
 1,787,507 
 
 3f 
 
 67,031 52 
 
 Vinegar - ;;?v- 
 
 - gallons 
 
 35,862 
 
 8 
 
 2,868 96 
 
 Beer, ale, and porter, bottled 
 
 do. 
 
 61,880 
 
 20 
 
 12,376 00 
 
 in casks " " - 
 
 - '" do. 
 
 7,516 
 
 15 
 
 1,127 40 
 
 Oil spermaceti - S*1- 
 
 - do. 
 
 _ 
 
 25 
 
 
 whale, and other fish 
 
 -, 'do. 
 
 563 
 
 15 
 
 84 45 
 
 olive, in casks 
 
 '- do. 
 
 25,109 
 
 25 
 
 6,27725 
 
 castor - - W'j 
 
 r- *do. 
 
 . _ 
 
 40 
 
 
 linseed 
 
 - do. 
 
 137,730 
 
 25 
 
 34,432 50 
 
 hempseed - 
 
 - do. 
 
 _ 
 
 25 
 
 
 rapeseed 
 
 - do. 
 
 _ 
 
 25 
 
 
 Cocoa - - 
 
 - pounds 
 
 1,646,691 
 
 2 
 
 32,933 82 
 
 Chocolate - - '.*"*;.' 
 
 - do. 
 
 2,256 
 
 4 
 
 90 24 
 
 Sugar, candy 
 
 - do. 
 
 491 
 
 12 
 
 58 92 
 
 loaf - 
 
 -" ' do. 
 
 1,866 
 
 12 
 
 223 92 
 
 other, refined ' 
 
 do. 
 
 623 
 
 10 
 
 62 30 
 
 Fruits Almonds r 
 
 . , . do. 
 
 521,483 
 
 3 
 
 15,644 49 
 
 Currants - - . 
 
 -' ' do. 
 
 442,419 
 
 3 
 
 13,272 57 
 
 Prunes and plums ~ - 
 
 Figs 
 
 - do. 
 do. 
 
 141,464 
 
 479,048 
 
 4 
 3 
 
 5,653 56 
 14,371 44 
 
 Raisins, jar, and Muscatel 
 
 v . do. 
 
 , 2,561,923 
 
 4 
 
 102,476 92 
 
 other f;' 
 
 '.'& do. 
 
 2,309,296 
 
 3 
 
 69,278 88 
 
 Candles, tallow 
 
 : - do. 
 
 _ 
 
 5 
 
 
 w.ar - >r*'i 
 
 do. 
 
 165 
 
 6 
 
 9 90 
 
 spermaceti 
 Cheese 
 
 '- - do. 
 - do. 
 
 33 
 37,839 
 
 8 
 9 
 
 2 64 
 3,405 51 
 
 Soap - 
 
 - .do. 
 
 
 
 
 Tallow . -, - -" ' 
 
 ' - .do. 
 
 272,949 
 
 1 
 
 2,729 49 
 
 Lard 
 
 do. 
 
 212 
 
 3 
 
 6 36 
 
 Beef and pork 
 Hams and other bacon 
 
 do. 
 do. 
 
 44,697 
 
 3 
 
 1,340 91 
 
 Butter 
 
 .- . do. 
 
 2,707 
 
 5 
 
 135 35 
 
 Saltpetre, refined - 
 Camphor, crude .- -~/, . - { ; ' ~ 
 refined - 
 
 do. 
 - do. 
 do. 
 
 7,040 
 60,887 
 3,335 
 
 3 
 8 
 12 
 
 211 20 
 4,870 96 
 402 60 
 
 Salts, Epsom 
 Spices Cayenne pepper - , " ^ - 
 Ginger 
 
 do. 
 do. 
 
 *&" do. 
 
 6,787 
 137 
 2,673 
 
 4 
 15 
 2 
 
 271 46 
 2095 
 53 46 
 
 Mace. - - 
 
 do- - 
 
 
 
 
 Nutmegs - - 
 
 do. 
 
 
 
 
 Cinnamon 
 
 -- do. 
 
 10,596 
 
 25 
 
 2,649 00 
 
 Cloves 
 
 . do. 
 
 56,002 
 
 25 
 
 14,000 50 
 
 Pepper 
 Pimento 
 
 - do. 
 - do. 
 
 651,078 
 222,404 
 
 8 
 6 
 
 52,086 24 
 13,344 24 
 
 Cassia 
 
 - - do. 
 
 536, 962 
 
 6 
 
 32,217 72 
 
 Tobacco, manufactured - 
 
 - do. 
 
 13,573 
 
 10 
 
 1,357 30 
 
 
 do 
 
 
 
 
 Indigo - - - $-' 
 Cotton - $~- 
 
 - do. 
 - do- 
 
 696,876 
 27,176 
 
 15 
 3 
 
 104,531 40 
 
 815 28 
 
 Gunpowder - - ,f;< 
 Bristles - 
 
 do. 
 
 - do. 
 
 38,441 
 160,900 
 
 8 
 3 
 
 3,075 28 
 4,827 00 
 
 Glue .-. 
 
 .. - do. 
 
 12,024 
 
 5 
 
 601 20 
 
 Paints ochre, dry - g~ 
 in oil - - ' 
 
 - do. 
 do. 
 
 903,040 
 5,359 
 
 I.: 
 li 
 
 9,030 40 
 80 38 
 
 white and red lead - 
 whitin CT * ""^ 
 
 - do. 
 do. 
 
 1,690,936 
 3:0,843 
 
 1 
 
 67,637 44 
 3,708 43 
 
 Lead pig, bar, and sheet - - , 
 
 - do. 
 
 3,449,825 
 
 2 
 
 68,996 50
 
 436 REPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 [1827 
 
 G. All other articles. 
 
 Cluantity. 
 
 Rate of 
 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Lead, shot - 
 
 pounds 
 
 52,853 
 
 3* 
 
 $1,849 8f> 
 
 Cables, tarred 
 
 do. 
 
 
 
 
 Cordage, tarred - 
 
 do. 
 
 
 
 
 untarred - 
 
 do. 
 
 60,887 
 
 5 
 
 3,044 35 
 
 Twine, untarred yarn, &c. 
 
 do. 
 
 233,438 
 
 5 
 
 11,671 90 
 
 Corks 
 
 do. 
 
 128,466 
 
 12 
 
 15,415 92 
 
 Copper rods and bolts 
 
 do. 
 
 38,230 
 
 4 
 
 1,529 20 
 
 nails and spikes - 
 
 do. 
 
 1,163 
 
 4 
 
 46 52 
 
 Fire-arms muskets 
 
 No. 
 
 
 
 
 rifles - 
 
 do. 
 
 161 
 
 250 
 
 402 50 
 
 Iron and steel wire, not above JNo. 18 
 
 pounds 
 
 639,657 
 
 5 
 
 31,982 85 
 
 above No. 18 - 
 
 do. ' 
 
 218,776 
 
 9 
 
 19,689 84 
 
 tacks, brads, &c., not above 16 oz. 
 
 M. 
 
 16,400 
 
 5 
 
 820 00 
 
 above 16 oz. 
 
 pounds 
 
 1,351 
 
 5 
 
 67 55 
 
 nails - 
 
 do. 
 
 191,562 
 
 5 
 
 9,578 10 
 
 spikes 
 
 do. 
 
 26,791 
 
 4 
 
 1,071 64 
 
 chain cables - 
 
 do. 
 
 . 381,294 
 
 3 
 
 11,438 88 
 
 mill cranks - 
 
 do. 
 
 205 
 
 4 
 
 8 20 
 
 mill saws 
 
 No. 
 
 1,508 
 
 100 
 
 1,508 00 
 
 anchors 
 
 pounds 
 
 67,452 
 
 g 
 
 1,349 04 
 
 anvils 
 
 do. , 
 
 445,946 
 
 2 
 
 8,918 92 
 
 blacksmith's hammers 
 
 do. 
 
 14,593 
 
 2i 
 
 364 82 
 
 castings, vessels of - 
 
 -do. 
 
 445,392 
 
 li 
 
 6,680 88 
 
 other 
 
 do. 
 
 630,396 
 
 f 
 
 6,303 8t> 
 
 round and brazier's rods 
 
 do. 
 
 409,179 
 
 3 
 
 12,275 37 
 
 nail and spike rods - 
 
 do. 
 
 395,595 
 
 3 
 
 11,867 85 
 
 sheet and hoop 
 slit and rolled 
 
 do. 
 do. 
 
 2,243,526 
 8,006 
 
 3 
 3 
 
 67,305 78 
 240 18 
 
 Pi - 
 
 ' cwt. 
 
 35,769 
 
 50 
 
 17,884 50 
 
 bar, rolled 
 
 do. 
 
 79,316 
 
 150 
 
 118,974 00 
 
 hammered ' - 
 
 do. 
 
 385,095 
 
 90 
 
 346,585 50 
 
 Steel - - ... 
 
 do. 
 
 15,727 
 
 100 
 
 15,727 00 
 
 Hemp - 
 
 do. 
 
 72,451 
 
 175 
 
 126,789 25 
 
 Alum 
 
 do. 
 
 4 
 
 250 
 
 10 00 
 
 Copperas - 
 
 do. - 
 
 4,536 
 
 200 
 
 9,072 00 
 
 Wheat flour 
 
 do. 
 
 39 
 
 50 ' 
 
 19 50 
 
 Coal 
 
 bushels 
 
 1,012,092 
 
 6 
 
 60,725 52 
 
 Wheat 
 
 do. 
 
 1,157 
 
 25 
 
 289 25 
 
 Oats 
 
 do. 
 
 12,759 
 
 10 
 
 1,275 90 
 
 Potatoes 
 
 do. 
 
 67,177 
 
 10 
 
 6,717 70 
 
 Paper folio and 4to post - 
 
 pounds 
 
 4,772 
 
 20 
 
 954 40 
 
 foolscap 
 
 do. 
 
 
 
 
 printing 
 
 4o. 
 
 1,548 
 
 10 
 
 154 80 
 
 sheathing - 
 
 , do. - 
 
 9,119 
 
 3 
 
 273 57 
 
 all other - 
 
 do. , 
 
 40,396 
 
 15 
 
 . 6,059 40 
 
 Books printed previous to 1775 - 
 in other languages 
 
 do. 
 do. 
 
 111,236 
 
 4 
 
 4,449 44 
 
 Latin and Greek, bound - 
 
 do. 
 
 7,941 
 
 15 
 
 1,191 15 
 
 in boards 
 
 do. 
 
 2,761 
 
 13 
 
 - . 358 93 
 
 all other, bound - 
 
 do. 
 
 9,859 
 
 30 
 
 2,957 70 
 
 in boards 
 
 do. 
 
 40,708 
 
 26 
 
 10,584 08 
 
 Glass cut, and not specified 
 
 do. 
 
 23,341 
 
 3 
 
 700 23 
 
 all other 
 
 do. 
 
 911,828 
 
 2 
 
 18,236 56 
 
 apothecaries' vials, not above 4 oz. 
 
 gross 
 
 5,144 
 
 100 
 
 5,144 00 
 
 not above 8 oz. 
 
 do. 
 
 497 
 
 125 
 
 621 25 
 
 to '.ties, not above one quart 
 
 do. 
 
 24,576 
 
 200 
 
 49,152 00 
 
 two quarts 
 
 do. 
 
 459 
 
 250 
 
 1,147 50 
 
 four quarts 
 
 do. 
 
 22 
 
 SOO 
 
 66 00 
 
 window, not above 8 by 10 
 
 100sq.fr. 
 
 767 
 
 SOO 
 
 2,301 00 
 
 , 10 by 12 
 
 do. 
 
 441 
 
 350 
 
 1,543 50
 
 1827.] SECRETARY OF THE TREASURY. 437 
 
 Explanatory Statements and Notes Continued. 
 
 6. All other articles. 
 
 \ v - 
 
 Quantity. 
 
 Rate of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 GJass window., above 10 by 12 
 
 - 100 sq. feet 
 
 2,961 
 
 400 
 
 $11,84400 
 
 uncut, in plates - 
 
 do. 
 
 264 
 
 400 
 
 1,056 oa 
 
 demijohns 
 
 No. 
 
 60,088 
 
 25 
 
 15,022 00 
 
 Fish dried or smoked - 
 
 quintals 
 
 605 
 
 100 
 
 605 00 
 
 salmon - - . ,' rn ' 
 
 barrels 
 
 1,889 
 
 200 
 
 2,978 00 
 
 mackerel - 
 
 do. 
 
 89 
 
 150 
 
 133 50 
 
 all other - 
 
 do. 
 
 234 
 
 100 
 
 234 00 
 
 Shoes and slippers, silk 
 
 pairs 
 
 1,042 
 
 30 
 
 312 60 
 
 prunelle - 
 
 da 
 
 1,968 
 
 25 
 
 267 00 
 
 leather, men's, &c. v - 
 
 do. 
 
 . .>. 3,843 
 
 25 
 
 960 75 
 
 children's 
 
 -' do. 
 
 
 
 
 Boots and bootees 
 
 do. 
 
 151 
 
 150 
 
 226 50 
 
 Segars - - - 
 
 M. 
 
 15,617 
 
 250 
 
 39,042 50 
 
 Plaving cards - - . 
 
 packs 
 
 1,354 
 
 30 
 
 40620 
 
 Russia duck 
 
 pieces 
 
 2 
 
 -200 
 
 4 00 
 
 
 
 
 
 2,063,127 43 
 
 Deduct excess 
 
 of exportation over importation : 
 
 
 
 Castor oil - 
 
 59 gallons, at 40 cents. 
 
 $23 60 
 
 
 Candles, tallow 
 
 15,371 pounds, at Scents 
 
 768 55 
 
 
 Soap 
 
 18,277 pounds, at 4 cents 
 
 731 08 
 
 
 Beef and pork 
 
 - 202,299 pounds, at 2 cents 
 
 4,044 58 
 
 
 .Mace 
 
 10,149 pounds, at 100 cents 
 
 10,149 00 
 
 . , 
 
 [Nutmegs - 
 
 3,655 pounds, at 60 cents 
 
 2,193 00 
 
 
 Snuff 
 
 471 pounds, at 12 cents 
 
 56 52 
 
 
 Cable?, tarred 
 Cordage, tarred - 
 
 55,891 pounds, at 4 cents 
 - 205,322 pounds, at 4 cents 
 
 2,235 64 
 8,212 88 
 
 
 Muskets 
 
 2,185 No. at 150 cents 
 
 3,277 50 
 
 
 Paper 
 
 - 445,194 pounds, at 17 cents 
 
 75,682 98 
 
 
 Books printed previous to 
 1775 _ - 8,054 pounds, at 4 cents 
 
 322 16 
 
 
 Shoes, children's - 
 
 670 pairs, at 15 cents 
 
 100 50 
 
 
 Hempseed oil 
 
 4,074 gallons, at 25 cents 
 
 1,018 50 
 
 
 Biue Vitriol - 
 
 - 9,171 pounds, at 4 cents 
 
 366 84 
 
 109 183 33 
 
 
 Carried to statement B 
 
 - 
 
 
 $1,953,944 10
 
 438 REPORTS OF THE [1827. 
 
 C. 
 
 A STATEMENT exhibiting the amount of American and foreign 
 tonnage, employed in the foreign trade of the United States, during 
 the year ending on the 3lst day of December, 1826. 
 
 American tonnage in foreign trade Tons 910,635 
 
 Foreign tonnage in foreign trade 120,716 
 
 Total tonnage employed in the foreign trade of the 
 
 United States 1,031,351 
 
 Proportion of foreign tonnage to the whole amount of 
 the tonnage employed in the foreign trade of the 
 United States - '.- * - - - 11.7 to 100 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, May 15, 1828. 
 
 JOSEPH NOURSE, Register,
 
 1S28.J SECRETARY OF THE TREASURY. 439 
 
 REPORT ON THE FINANCES. 
 
 DECEMBER, 1828. 
 
 In laying before Congress the annual report from the Treasury for the 
 present year, the occasion is deemed a fit one for presenting, in connexion 
 with it. a brief retrospect of the principal financial operations and results of 
 the three years preceding. 
 
 As preliminary, it may be proper to remark, that the receipts for the 
 present year are likely to reach a sum greater than that at which they 
 were estimated when Congress assembled last year: whilst the expenditures, 
 always confined within limits prescribed by the law, have not gone beyond 
 those limits. The only exception to this previous limitation upon expendi- 
 ture applies to the public debt, .for the reduction of which larger sums may 
 be paid than are regularly set apart for the service of the year, provided 
 there be surplus funds in the Treasury to admit of it. This has proved to 
 be the case during the present year. 
 
 In the summary retrospect which it is proposed to give, the state of the 
 public debt will claim the first attention. Such is the interest which the 
 nation is known to take in its extinguishment, that what is done at the 
 Treasury, from year to year, under the injunctions of the-laws, towards this 
 end, cannot be too distinctly set forth. Amongst the highest duties of a 
 nation, is faithfully to keep to its pecuniary engagements ; and there need 
 be no better demonstration of its pecuniary ability, than when it is seen to 
 pay off with promptitude and punctuality its funded debt. 
 
 There was paid in 1825, on account of the debt, the sum of twelve million 
 ninety-nine thousand and forty-four dollars and seventy-eight cents. This 
 sum was not all derived, as will be seen hereafter, from surplus revenue. 
 In 182'5, there were paid $ 11,039,444 60, all from surplus revenue ; in 1827, 
 $10,001,585 98, from surplus revenue; and in 1828, there will have been 
 paid, by the close of the year, also from surplus revenue, $12,163,566 90; 
 making for the four years, forty-five million three hundred and three thou- 
 sand six hundred and forty-two dollars twenty-six cents. Of this sum 
 $30,373,188 01 were applied to the principal, and $14,930,454 25 to the 
 interest of the debt; the whole of the former having gone towards the re- 
 duction of that part of it which bears an interest of six per cent. 
 
 The act of Congress of the 3d of March. 1817, commonly called the 
 sinking fund act, appropriates the annual sum often millions of dollars for 
 the purpose of gradually sinking or paying off the public debt of the nation. 
 This sum includes all payments on account of interest, which are invariably 
 made from quarter to quarter, leaving the remainder to be applied, as far as 
 it will go, to the reduction of the principal. Up to the year 1825, the ex- 
 pectations of this act had not, in one sense, been always fully met. The 
 annual interest was ever scrupulously paid as the quarter came round ; but 
 there had not been during every year a sufficient residue to be applied to the 
 principal, to make- up the entire sum often millions of dollars. Sometimes, 
 too, there was not a sufficient amount of debt redeemable under the laws, in
 
 440 REPORTS OF THE [1828. 
 
 the course of a year, to allow of the full payment of ten millions, even if the 
 surplus funds of the Treasury had been equal to the operation. The inabili- 
 ty of the Treasury, where it may have existed, to reduce the principal of the 
 debt, every year, by the precise amount contemplated in the sinking fund 
 act, neither broke faith nor caused complaint with the public creditor ; for 
 whatever the considerations of public policy that have made the rapid extin- 
 guishment of the debt a favorite object with the nation, it is known that the 
 public creditor regards it, individually, as a hardship to be paid off. His re- 
 liance upon the faith and resources of the nation is so unbounded, that he 
 prefers to let his capital stock remain in its hands, subject only to his calls 
 for the interest. But since the close of 1825, such has been the state of the 
 Treasury, from the increasing solidity of the national resources, that, not only 
 has the annual requisition of the sinking fund act been complied with, but 
 still more has been done. At the beginning of that year, the whole sum paid 
 under the act, during the seven years of its operation in reduction of the prin- 
 cipal of the debt, (the operation of the act not having regularly commenced 
 until 1818.) fell short, by a sum exceeding three millions of dollars, of the 
 amount that it would have reached, had the full ten millions been paid in prin- 
 cipal and interest, during each of the seven years in question. Since the 
 close of 1825, (or, more correctly, since the commencement of 1826,) this 
 deficiency has been countervailed, by such an excess of annual payments 
 towards the principal of the debt, as to leave, in the language of the Trea- 
 sury, no arrears now due to the sinking fund, or none of importance. In 
 other words, looking back upon the whole time that has elapsed since the 
 sinking fund act went into operation, it can new be stated, that, taking 
 one year with another, there have been made (with the exception of a small 
 fractional sum) the full average payments of ten millions of dollars annually, 
 in principal and interest, on account of the public debt. This result has 
 been, in a great degree, produced by the payments which will have been made 
 during the present year in redaction of the principal. Five million four 
 hundred and sixty-three dollars and twelve cents were paid on the 1st of 
 July, and it is intended to pay $4,050,780 77 on the 1st of January ; 
 making for the whole year, including a small balance of Treasury notes to 
 be paid off, and a minute fraction of the old registered debt, nine million 
 .sixty-one thousand four hundred and ninety-six dollars nineteen cents. The 
 Committee on Finance of the Senate, in their valuable report to that body 
 in April last, on the state of the public debt, referring to the foregping pay- 
 ment which it was then in contemplation to make on the 1st of July, ex- 
 pressed their hope that a considerable reduction of the arrears due to the 
 sinking fund would probably be effected in the course of this year. The 
 hope is amply realized. The large amount of the payment to be made on 
 the 1st of January was justified, in the opinion of the commissioners of 
 the sinking fund, by the receipts into the Treasury since the payment in 
 July was resolved upon, which were greater than had been anticipated, and 
 by those that were reasonably anticipated for the fourth quarter of the year. 
 The total sum that will have been paid on account of the debt, from the 
 1st of January, 1817, the year in which the sinking fund act passed, to 
 the 1st of January next, will be one hundred and forty-six million six 
 hundred and sixty-nine thousand seven hundred and seventy-three dollars 
 forty eight cents. Of this sum, $88,834,108 66 were paid on account of 
 principal, and $57,835,664 82 on account of interest. The extra payments 
 on account of the principal, (more than could have tee i covered by the an-
 
 1S26.] SECRETARY OF THE TREASURY. 441 
 
 nual appropriation of ten millions,) comprehend sums obtained on loan at a 
 lower interest than six per cent,, to replace stock paid off at that interest, 
 and sum? that had accumulated in the Treasury in 1817, partly under the 
 effect of the double duty system, before the prospective operation of the act 
 began. The national debt has been positively lessened in amount by the 
 sum of sixty-five million one hundred and twenty-nine thousand eight 
 hundred and twenty-nine dollars and thirty-eight cents, since the 1st of 
 January, 1817, by surplus funds. The whole of this last mentioned sum, 
 so paid off, was borrowed at six per cent^ or more than six, with the ex- 
 ception of a small amount of Treasury notes and some Mississippi stock. 
 It is facts like these that attest the true character and value of a sinking fund. 
 None can be effectively such, but where income exceeds expenditure; and 
 where a clear surplus from the former is steadily applied to the diminution 
 of the debt. Such is the sinking fund act of the United States, and such 
 have been the results of its operation; results which it cannot be otherwise 
 than acceptable to the nation to learn. The whole remaining debt that the 
 nation will owe on the 1st of January ensuing, will be, in its nominal 
 amount, fifty-eight million three hundred and sixty-two thousand one hun- 
 dred and thirty-five dollars seventy-eight cents. Bnt from this amount 
 should be taken seven millions of dollars, being so much of apparent debt 
 only, in the shape of subscription to the stock of the Bank of .the United 
 States, the nation owning a like sum in the slock of the bank, upon which 
 dividends are punctually paid. Of the sum that will remain, namely, 
 .$51,362,135 76, the old revolutionary three per cents constitute more than 
 thirteen millions of dollars. By this exhibition of the state of the debt, it 
 will be seen to how small an amount it has fallen, under a faithful enforce- 
 ment of the sinking fund act, in the space of eleven years. In the past ef- 
 fects of this act we have the pledge of its future efficacy. As each successive 
 year increases the proportion of principal that is paid off", diminishing that 
 of interest, it is easy to anticipate in how short a time the nation, under the 
 continued action of the fund, will be released from all charges whatever, on 
 account of the debt, by its final extinguishment. Assuming its stated ap- 
 propriation of ten millions to be forerun in the same proportion in future 
 years as it has been this year, the debt will, in effect, be totally paid off in 
 little more than four years. 
 
 An evidence of the stable resources of a country, actual and prospective, 
 is to be found in the prices which its funded debt bears in the money market. 
 
 A financial exposition and review, like the present, naturally embraces 
 some general allusion to this point. The stocks of the United States keep 
 at an elevation above par, indicative of the high credit of the Government; 
 the more remarkable, from the consideration that, they are redeemable at 
 short periods, and quickly redeemed, in fact, as the periods arrive. The 
 three per cents, being those which it is presumed will ba redeemed last, a 
 circumstance known always to enhance the value of slock, where public 
 confidence attaches to it. stand, accordingly, at the highest rate; being a 
 favorite stock abroad as well as at home. For the last four years, this por- 
 tion of the public stock has been at a price ranging, in the main, from 80 to 
 85 ; nor has it been always obtainable, such is the demand for it. even at that 
 rate. The heavy fall of stocks in England, towards the close of 1825, af- 
 fected those of this country less than might have been anticipated, from the 
 connexions of business between the two countries; and serves to show the 
 value of those of this Government, even under untoward occurrences, in 
 that great centre of the commercial world.
 
 442 REPORTS OF THE [1828. 
 
 The precise amount and kinds of stock of which the public debt will 
 consist on the 1st of January next, with the periods of redemption, will be 
 seen in detail in the document. No. 1, annexed to this report. It is not 
 deemed necessary to say any thing more under this head, except barely to 
 add, that the $5,000,463 12, that were paid off on the 1st of July last, con- 
 sisted of $2,744,423 91 of the six per cent, stock created by the act of Con- 
 gress of the 8th of February 1813, being all that was left of that stock; 
 and of $2,256,039 21 of the six per cent stock created by the act of the 
 24th of March, 1814. The $4,050,780 77 intended to be paid at the close 
 of the present year, consist of the six per cent, stock, also created by the last 
 mentioned act, but denominated the loan of the 22d of August, 1814; being, 
 in like manner, all that remains unpaid of that particular loan. 
 
 The general state of the foreign commerce of the country will nex^ 
 given. This will best make known the surplus productions of its soil, and 
 those other sources of its industry which constitute the basis of its foreign 
 commerce. The importations into the United Stales, during the last four 
 years, amount in value to three hundred and fifty million two hundred and 
 two thousand four hundred and sixty-nine dollars. Those for a portion of 
 the present year are here given by probable estimate, rather than certain 
 knowledge. The exportations for the same four years, calculated in the 
 same way, amount to three hundred and thirty-seven million two hundred 
 and two thousand four hundred and twenty-six dollars; of the latter, 
 $233,069,035 were of domestic produce and manufacture, and $104,133,391 
 were re-exportations of foreign commodities. The importations for the four 
 years preceding, or from 1821 to 1824, (both inclusive,) amounted to three 
 hundred and three million nine hundred and fifty-five thousand five hun- 
 dred and thirty-nine dollars; and the exportations to two hundred and 
 eighty seven million eight hundred and twenty thousand three hundred 
 and fifty dollars. Of the latter, $191,350,881 were of domestic produce and 
 manufacture, and $96,469,469 re-exportations of foreign articles. 
 
 The receipts into the Treasury during the last four years, (these being al- 
 ways chiefly dependant upon the importations,) amount to ninety-seven mil- 
 lion nine hundred and fifty-seven thousand five hundred and fifty-nine 
 dollars and eighty-six cents. Those for the present year are here also given, 
 in part, by estimate. The estimates may deviate from accuracy, but not to 
 an extent to thwart the general conclusions that are in view. The expend- 
 itures for the same time, calculated in the same way, may be stated at 
 ninety-five million five hundred and eighty -five thousand five hundred and 
 eighteen dollars and eighty-five cents. Of this sum, besides what was ap- 
 plied to the public debt, about fourteen millions will have been expended on 
 internal works designed to improve the condition of the country, or other- 
 wise on objects not belonging to the mere annual support of Government, 
 in its civil, military, and naval establishments. The receipts for the four 
 years that preceded were eighty-four million seven hundred and twenty- 
 eight thousand and ten dollars and seventy-one cents ; and the expenditures 
 eighty-three million nine hundred and seventy-nine thousand eight hun- 
 dred and seventy-four dollars and seventy-nine cents. Ten millions of dol- 
 lars obtained by loans, are included in the receipts of the four years last men- 
 tioned ; and five millions, so obtained, came into the Treasury during the 
 first year of the other series, viz : in 1825. This loan of five millions was pro- 
 cured under an act of Congress of May, 1824, at four and a half per cent., not 
 from any deficiency of revenue, but for thepurpose of payingan equal amount
 
 1828.] SECRETARY OF THE TREASURY. 443 
 
 of the public debt at six per cent. It explains what was said of the payment 
 that was made on account of the debt in 1825 not having all been from sur- 
 plus revenue. The loans, amounting to ten millions, embraced in the first 
 series of four years, were obtained with a view [exclusive of the sum applied 
 to the purchase of Florida) to similar changes in the debt. It has been the 
 policy of the Treasury Department to recommend, from time to time, these 
 changes of stock, from a high, to stock bearing a lower rate of interest ; it 
 appearing to be unjust to the nation, that, under an entire alteration of cir- 
 cumstances since the time when it may have borrowed money, it should con- 
 tinue to pay more in the shape of interest than individuals pay ; the credit 
 of the nation transcending that of individuals as much as do its resources. 
 
 This remark necessarily implies the right, on the part of the Government, 
 so to change its stock, from the time of redemption having arrived, to that 
 which bears a high interest ; and which may, therefore, without objection, 
 be paid off by a new loan obtained at a reduced interest. 
 
 Deducting the amount of receipts from these beneficial loans during the 
 two periods reviewed, the absolute increase of revenue, during the second 
 period, is found to exceed eighteen millions of dollars. The whole of this in- 
 crease has been in the customs. It amounts, in each year, to an average of 
 more than twenty-four per cent. Whilst the increase in receipts has been 
 at this rate, the increased expenditure, aside from what has been paid to- 
 wards the reduction of the debt, has been less than ten per cent., and the 
 latter has been chiefly caused by internal improvements. The increase in 
 receipts may be accounted for, in part, but not at all to this extent, by the 
 increased duties under the tariff of 1824. The imports, during the four years 
 ending with 1828, exceed those of the preceding four years by an average 
 of more than fifteen per cent, in each year. The exports of domestic pro- 
 duce, for the four years ending with 1828, exceed those of the four years 
 ending with 1824 by an average of more than twenty-one per cent, in each 
 year. The increase in the consumption of foreign articles, during the same 
 time, has been, on an average, upwards of eighteen per cent, in each year. 
 
 It is believed that the shipping of the United States will be found to have 
 increased, during the last four years, in a fair ratio with their commerce and 
 revenue. The returns under this headj are not sufficiently complete, at the 
 present moment, to speak with precision. It is certain that the whole mer- 
 cantile shipping of the Union, including that employed in the coasting trade, 
 as well as all that is embarked in foreign commerce and the fisheries, exceeds 
 at this time fifteen hundred thousand tons. That of no other nation is pro- 
 bably as large, England excepted. In 1818, the tonnage of the Union was 
 but little more than twelve hundred thousand. Its greatest increase since 
 that year, was in one of the years under examination, viz : in 1826. The 
 profits of freight upon this large amount of tonnage, the ships of the United 
 States being almost exclusively the carriers of the commerce of the nation, 
 centre at, home, and make a large addition to the stock of capital at home. 
 
 The foregoing statements indicate a steady advance in the national pros- 
 perity. The reality of this advance is only to be measured by aggregate re- 
 sults, ascertained at proper intervals of time. It is useful to present such re- 
 sults. They show the general condition of the country, viewed, not in parts, 
 but under one undivided whole. They attest the positive growth of its 
 riches, and the rapidity of the growth by comparison. They afford resting 
 points for doubtful opinions, when all desire to arrive at those that may ap- 
 pear best supported by results. No single eye can take them all in. unassist-
 
 444 REPORTS OF THE [1828. 
 
 ed by the authentic returns which it is the province of the Government, and 
 chiefly of the department of the Treasury, to watch over and promulgate,, 
 endeavoring also to trace them to their causes. A state whose natural re- 
 sources and territory are abundant, whose institutions are free, and whose 
 interests are diversified, may witness occasional and temporary pressure upon 
 some of those interests, whilst all the great branches of its industry are in 
 course of sure development. But transient inconvenience is lost in the 
 aggregate prosperity, and must, in the end, participate in that prosperity. It 
 is thus that great states, under successful systems of legislation, go onward 
 in their career of riches and power. Not only has there been a marked in- 
 crease of importations and revenue in the United States, during the last four 
 years, and of exportation of domestic commodities, but a like diminution in 
 re-exportations. The latter is very striking ; and justifies the inference, not 
 merely of an increased desire to import for the purpose of meeting the con- 
 tingencies of trade or speculation, but of an increased ability in the country 
 to purchase and use foreign fabrics. The increased consumption of the lat- 
 ter, and the increase in revenue, have exceeded the ratio of the increase of 
 duties under the tariff of 1824, and the presumed increase of population also. 
 The exports of domestic products have increased more lhan four-fold faster 
 than the increase of population, as given by the census at periods the most 
 favorable. These facts cannot mislead. They point to an unequivocal in- 
 crease, so far, in the prosperity f the nation. Statistical testimonials for a 
 single year, or for more than one, may rise or fall in amount, from causes 
 that postpone all permanent conclusions ; but where they are seen to go on 
 in an increasing train, throughout a succession of years, it is rational to as- 
 cribe them to causes beginning to assume a fixed character. If we review the 
 last four years as a period of time in commercial history, we find little in the 
 circumstances of the world, either from general war, or otherwise, to affect 
 foreign markets beyond the ordinary fluctuations incident to trade at all 
 times. The extraordinary operations in the cotton market, that fell upon 
 the first of these years, viz : 1825, are not conceived to impair the applica- 
 bility of the remark, because there has been time enough for diminished ex- 
 portations, as a consequence of the large exportations of that year. No term, 
 indeed, of eight years, since the establishment of the Government, has been 
 so exempt from the influence of external events that disturb the regular ope- 
 rations of national industry and commerce, as the last eight. None, there- 
 fore, could be so fairly taken for the 'comparative statements that have been 
 made. It does not escape recollection, that from 1791 to 1815, there were 
 epochs when the foreign commerce of the country advanced with even more 
 rapidity than is here stated when it was greater^absolutely, and therefore 
 greater in proportion to the population of the country. But. during that 
 long interval, there prevailed in Europe, with scarcely a perceptible inter- 
 ruption, desolating wars, which created an unparalleled demand for our 
 staple productions, and brought them up to extravagant prices. This, with 
 our neutral attitude, which gave to our carrying trade a scope almost un- 
 bounded, raised exportations and importations to an artificial pitch, that can 
 never be recurred to as a standard of comparison for commerce, under cir- 
 cumstances more ordinary and regular. It is known that, during portions 
 of that interval, our trade in foreign produce far exceeded that in domestic. 
 It is wholly otherwise now. The mere profits on our tonnage at that 
 earlier day of the republic, by the capital which it introduced, gave, of itself, 
 the capacity for an enlarged consumption of foreign articles, on a compara- 
 tively smaller basis of population.
 
 1328.] SECRETARY OF THE TREASURY. 445 
 
 The increased consumption of foreign articles in the United States, dar- 
 ing the last four years, as compared with the four that preceded, may, it is 
 believed, be ascribed, in no inconsiderable degree, to the advances which 
 home labor has been making in various ways, in the country, since 1824. 
 The creation and sub-division of home labor must bring new wealth to 
 this country, as they ever have to other countries ; and with it an increased 
 ability to buy articles of all kinds. The reports from this department, 
 within these four years, have respectfully, but earnestly, urged upon Con- 
 gress the expediency of fostering manufacturing labor, under the conviction, 
 deeply entertained, that in its success is largely to be found the true ground- 
 work of financial power. It will ultimately unfold the means of providing 
 revenue for the public wants, when war or other external events, not to be 
 controlled, may abridge foreign commerce. How difficult it has been, 
 heretofore, to obtain any efficient supplies of revenue from sources of inter- 
 nal industry and wealth, when such vicissitudes have happened, the finan- 
 cial history of the country in times past sufficiently makes known, impart- 
 ing admonition for the future. The department has no less strenuously 
 inculcated the policy of important amendments in our commercial code, by 
 lowering the duties upon foreign articles that were indicated, especially 
 teas ; by removing the shackles which bind down the merchant in his trade 
 of re-exportation ; and by a liberal extension of the warehousing system, 
 which, with the abolition of all transit duties, might more and more tend 
 to bring the productions of all parts of the world into deposite at our ports, 
 thence to be distributed, and principally by our own ships, wherever mar- 
 kefs might invite them. It was believed that, with the establishment of 
 manufactures at home, foreign commerce would ultimately expand ; but it 
 continues to be believed that the latter will never get to its full height in 
 the United States, until aided by the laws in the ways recommended. " The 
 merchant, like the manufacturer, requires, at proper junctures, the helping 
 hand of Congress, and may suffer without it. Hence it has been the ob- 
 ject, as it was the duty, of the department, to invoke legislative favor for 
 both these great interests, under the belief that they flourish most when 
 they flourish together; that, in proportion as both flourish, in conjunction 
 with agriculture, the invariable feeder of both, is the public Treasury most 
 likely to be kept full ; and that all plans of finance that do not take the co- 
 operating prosperity of these three primary interests of the state as their 
 foundation, must prove fallacious or short-lived. Such were the counsels 
 of a departed statesman, whose name peculiarly lives in the records of this 
 department ; who was first placed at its head, directing its operations with 
 a forecast so luminous as still to throw a guiding light over the path of his 
 successors. His comprehensive genius, looking into futurity, and embrac- 
 ing in its survey all the interests that go to make up the full strength and 
 riches of a great empire, saw the truth, now in course of corroboration by 
 our own experience, that the protection and increase of manufacturing 
 labor, far from stopping the springs of our commercial power, would but 
 multiply and diffuse them. 
 
 Enough of time has not elapsed to warrant any decided judgment upon 
 the practical operation of the tariff of 1828. There seems no present rea-> 
 son for supposing that it will lessen exportations. If not, no scale of duties 
 which it has created will diminish the foreign trade, or the revenue of the 
 nation. It is manifestly what we send abroad that must, in the end, give 
 the true measure of what we are to receive from abroad.
 
 446 REPORTS OF THE [1828. 
 
 The moneys received into the Treasury during the last four years amount, 
 as has been already estimated, to more than ninety-seven millions of dollars. 
 It belongs to this retrospect to state, that in the application of the whole of 
 this sum to the various objects of expenditure designated by the laws, no 
 embarrassments or delays, injurious to the public service, have happened. 
 All moneys have been paid at the time, and at the place, where they were 
 required to be paid, arid to the persons entitled to receive them. This capa- 
 city in the Treasury to apply the public funds at the proper moment, in every 
 part of a country of such wide extent, has been essentially augmented by 
 the Bank of the United States. The department feels an obligation of duty 
 to bear its testimony, founded on constant experience during the term in 
 question, to the useful instrumentality of this institution in all the most im- 
 portant fiscal operations of the nation. In faithful obedience to the condi- 
 tions of its charter, and aided by its branches, it has afforded the necessary 
 facilities for transferring the public moneys from place to place, concentrat- 
 ing them at the point required. In this manner all payments on account of 
 the public debt, whether for interest or principal ; all on account of pensions ; 
 all for the civil list, for the army, for ,the navy, or for whatever other pur- 
 pose wanted in any part of the Union, have been punctually met. The 
 bank is also the depository, with its branches, for the public moneys, from 
 whatever sources of revenue received ; aiding, too, in their collection : there- 
 by giving safety to the keeping, as well as promptitude and certainty to the 
 disbursement, of the public treasure. It receives the paper of the State banks 
 paid on public account in the interior, as well as elsewhere, and, by placing 
 it to the credit of the United States as cash, renders it available wherever the 
 public service may require. By this course a course not enjoined by its 
 charter it widens the field of business and usefulness to the State banks. 
 Such, also, is the confidence reposed in the stock of the Bank of the United 
 States, that it serves as a medium of remittance abroad, in satisfaction of 
 debts due from our citizens to those of other countries, which otherwise 
 would make a call upon the specie of the country for their discharge. Nor 
 are these all the uses of this institution, in which the Government partici- 
 pates. It is the preservation of a good currency that can alone impart sta- 
 bility to property, and prevent those fluctuations in its value, hurtful alike to 
 individual and to national wealth. This advantage the bank has secured 
 to the community, by confining within prudent limits its issues of paper, 
 whereby a restraint has been imposed upon excessive importations, which 
 are thus kept more within the true wants and capacity of the country. Some- 
 times (judiciously varying its course) it enlarges its issues, to relieve scarcity, 
 as under the disastrous speculations of 1825. The State banks, following, 
 or controlled by, its general example, have shaped their policy towards the 
 same salutary ends : adding fresh demonstrations to the truth, that under the 
 mixed jurisdiction and powers of the State and national systems of govern- 
 ment, a national bank is the instrument alone by which Congress can effect- 
 ively regulate the currency of the nation. When the Congress of the revo- 
 lution, under the severest pressure of financial difficulty, established, in 1781, 
 the Bank of North America; when the superintendent of finance of that pe- 
 riod predicted that it would " become as useful to commerce and agriculture 
 in peace, as to the Government during warf when the same public offi- 
 cer, speaking from an arduous and enlightened experience, subsequently 
 said that, without that bank, imperfect as was its organization, " the business 
 of the Department of Finance could not have been 'performed;'' it affords
 
 1828.] SECRETARY OF THE TREASURY. 447 
 
 a testimony, the memory of which is conceived to be not wholly irrelevant 
 to that which is here intended to be borne, to the kindred but better institu- 
 tion of our day. The policy of Congress having established a financial con- 
 nexion between the Bank of the United States and the Government of the 
 Union, it is conceived to devolve upon the officer of the latter, whose post 
 charges him with a close observance of that connexion, to report to Congress 
 its practical effects. The benefits of a remedy become often most apparent 
 by a recollection of the evils which called for it. A paper currency too re- 
 dundant, because without any basis of coin, or other effective check, and of 
 no value as a medium of remittance or exchange, beyond the jurisdiction of 
 the State whence it had been issued ; a currency that not unfrequently im- 
 posed upon the Treasury the necessity of meeting, by extravagant premiums 
 the mere act of transferring the revenue collected at one point, to defray un- 
 avoidable expenditures at another : this is the state of things which the Bank 
 of the United States has superseded. In the financial operations of the na- 
 tion, as in the pecuniary transactions between man and man, confidence has 
 succeeded to distrust, steadiness to fluctuation, and reasonable certainty to 
 general confusion and risk. The very million of dollars of funds not effec- 
 tive, of which the Treasury for many years has been obliged to speak, is but 
 a remnant of the losses arising from the shattered currency, which the bank, 
 by a wise management of its affairs, has cnred. In conclusion, the mode of 
 its agency, in large payments of the principal of the debt, is not to be over- 
 looked. By its arrangements for them, it avoids the inconvenience of too 
 great an accumulation of money in the vaults of depositeused by the Govern- 
 ment, and of the vacuum that would succeed its too sudden distribution. It 
 does this by anticipating, as the periods of payment approach, the disburse- 
 ment of a considerable portion of the stock, in the form of discounts in favor 
 of those who are to be paid off; thereby enabling them otherwise to employ 
 their capital, as opportunities may offer, beforehand. In this manner heavy 
 payments of the debt are, in effect, made gradually, instead of the whole mass 
 being thrown at once upon the money market, which might produce inju- 
 rious shocks. So prudently in this, and other respects, does the bank aid the 
 operation of paying off the debt, that the community hardly has a conscious- 
 ness that it is going on. 
 
 An act of Congress was passed on the 24th of last May. directing the Sec- 
 retary of the Treasury to subscribe, in the name and for the use of the 
 United States, for ten thousand shares of capital stock of the Chesapeake and 
 Ohio Canal Company an enterprise designed to open the shortest outlet be- 
 tween the waters of the Ohio and the Atlantic ocean. This duty has been 
 performed ; and it is satisfactory to be able to state, that the national work 
 which it is designed to advance aworkdistinguishedfromkindredenterprises 
 to which Congress has heretofore lent its powerful aid, by its connexion 
 with the national metropolis has been commenced. A considerable portion 
 of the line of the canal is in progress of excavation, and under circumstances 
 that promise well towards the successful prosecution of the whole work. 
 In its completion, a large and enriching increase of home trade in this part 
 of the Union, diffusing its commercial and fiscal benefits to other parts, and 
 much of it concentrating in a district under the peculiar and exclusive care 
 of Congress, cannot but be witnessed. 
 
 The retrospect intended is here closed. It looked to but two things : 1st, 
 a condensed statement of the leading facts belonging to the history of the 
 department at the termination of one of those periods of time into whick
 
 448 REPORTS OF THE [1828, 
 
 the constitution has divided the movements of the Government ; and, second- 
 ly, to a general reference to the principles of public policy, which have guided 
 the present incumbent in the performance of its leading duties. So deeply 
 do the finances of a state always enter into the estimate of its prosperity 
 often of its very existence that he has at no time felt himself at liberty to 
 take a restricted view of the law commanding him to make an annual report 
 to Congress "on the subject of finance;" but puts himself upon the in- 
 dulgence of that body for having coupled with this annual performance of 
 his duty principles and recommendations which he believes eventually cal- 
 culated, in the language of that law. to improve and increase the finances 
 of the Union. 
 
 The report will now proceed to slate the, receipts and expenditures of the 
 past and present years, as far as ascertained, and an estimate of those for the 
 year ensuing 
 
 The actual receipts from all sources during the year 1827, amounted, as 
 will be seen in document No. 2, to twenty-two million nine hundred and 
 sixty-six thousand three hundred and sixty-three dollars andninety-six cents: 
 which, with the balance in the Treasury on the 1st of January of that year, 
 of six million three hundred and fifty-eight thousand six hundred and eighty- 
 six dollars and eighteen cents, gives an aggregate of twenty-nine million 
 three hundred and twenty-five thousand and fifty dollars and fourteen cents. 
 Of the sum received as above, during 1827, the customs yielded upwards of 
 nineteen millions and a half, and the sales of the public lands nearly one 
 million and a half. The expenditures of the United States, for the same 
 year, amounted to twenty-two million six hundred and fifty-six thousand 
 seven hundred and sixty-four dollars and four cents. The same document 
 will supply a specification of the particulars, and show a balance in the Trea- 
 sury on the 1st of January, 1828, of six million six hundred and sixty-eight 
 thousand two hundred and eighty-six dollars and ten cents. 
 
 The actual receipts during the first three quarters of 1828, (document No. 
 3,) are supposed to have amounted to eighteen million six hundred and thir- 
 ty-three thousand five hundred and eighty dollars and twenty-seven cents : 
 and those of the fourth quarter, it is supposed, will amount to five million four 
 hundred and sixty-one thousand two hundred and eighty-three dollars and 
 forty cents ; making the total receipts for 1828 twenty-four million and 
 ninety-four thousand eight hundred and sixty-three dollars and sixty- 
 seven cents ; which, added to the balance in the Treasury on the 1st of 
 January, as above stated, gives an aggregate of thirty million seven 'hun- 
 dred and sixty-three thousand one hundred and forty-nine dollars and 
 seventy-seven cents. The expenditures of the first three quarters of the 
 year, (same document,) are supposed to have amounted to eighteen million 
 two hundred and forty-four thousand nine hundred and seven dollars'' and 
 ninety-one cents ; and those for the fourth quarter, it is supposed, will amount 
 to seven million three hundred and ninety-two thousand six hundred and 
 three dollars and seventy-two cents; making, for the whole year, twenty-five 
 million six hundred and thirty-seven thousand five hundred and eleven dol- 
 lars and sixty-three cents. This expenditure includes, as the items in the 
 document will show, upwards of twelve millions on account of the debt ; and 
 will leave in the Treasury, on the 1st of January, 1829, an estimated balance 
 of five million one hundred and twenty-five thousand six hundred and thirty- 
 eight dollars and fourteen cents. This balance will be subject to the appro- 
 priations of moneys for the service of 1828, that have not as yet been called
 
 1828.] SECRETARY OF THE TREASURY. 449 
 
 for, a sum estimated at three million five hundred thousand dollars ; and 
 includes the one million of dollars in funds not now effective, as heretofore 
 explained. 
 
 ESTIMATE OP REVENUE AND EXPENDITURE FOR 1829. 
 
 The gross amount of duties secured by custom-house bonds, during the 
 first three quarters of the present year, is estimated at twenty-two million 
 nine hundred and ninety-seven thousand dollars ; and the amount that will 
 be secured, during the fourth quarter, at five millions ; making an aggre- 
 gate, for the whole year, of twenty-seven million nine hundred and ninety- 
 seven thousand dollars. The debentures for drawback of duty, issued 
 during the first three quarters, amounted to $2,962,584 55, and the amount 
 outstanding on the last day of the third quarter was $2,261,798 05, of 
 which $1,045,144 46 are chargeable upon the revenue of 1829. The amount 
 of bonds in suit at the close of the third quarter was $4,624,278 75 ; which 
 exceeds, by $487,466 11, the amount that was in suit on the corresponding 
 day of 1827. 
 
 Making the proper deductions on the foregoing and other accounts from 
 the gross amount of duties secured in 1828, the revenue to be received from 
 the customs in 1829 may be estimated at twenty-one million five hundred 
 thousand dollars ; that from the sales of the public lands may be put down at 
 o,ne million ; that from bank dividends at four hundred and ninety thou- 
 sand dollars ; and that from incidental sources at about one hundred and 
 fifty thousand dollars ; making a total of twenty-three million one hundred 
 and forty thousand dollars. The expenditures are estimated thus : For the 
 whole civil list, including miscellaneous objects, and the ten millions for the 
 debt, twelve million one hundred and sixty thousand dollars ; for the mili- 
 tary establishments, and objects in connexion with them, five million and 
 sixty thousand ; and for the naval, four million four hundred and twenty 
 thousand; making, in the whole, twenty-one million six hundred and 
 forty thousand dollars ; and giving an excess of receipts for the year 1829, 
 over its expenditure, of one million five hundred thousand dollars. 
 
 The receipts for 1828 were estimated at twenty-two million three hun- 
 dred thousand dollars ; but are likely to amount, in point of fact, to above 
 twenty-four millions of dollars. The receipts for 1829 are estimated, as is 
 seen above, at twenty-three million one hundred and forty thousand dol- 
 lars. It has not been considered safe to place them, by any decided antici- 
 pation, at a higher sum; yet there are appearances in the commercial and 
 political world, which, in their further development, may carry the actual 
 receipts of 1829 at least as far above their estimated amount as is likely to 
 be the case with those of 1828. If, for example, without alluding to other 
 contingencies, any continued or further activity in the demand for grain and 
 flour should lead to heavier exportations of our produce than usual, within 
 a few months to come, there would of course be a reflow of heavier import- 
 ations. The revenue of 1829 would feel the effect of these, in increased 
 receipts ; because, even under the long credits allowed on duty bonds, a 
 portion of the duties that accrue within the year are receivable within the 
 year. But such events as these, although fit, perhaps, to be incidentally 
 hinted at, are to be viewed with caution as the groundwork of any positive 
 financial calculations, and accordingly have not been adopted in that senss 
 upon the present occasion. 
 VOL. ii. 29
 
 450 REPORTS OF THE [1828, 
 
 Upon the whole, in bringing this report to a close, there is room for min- 
 gling a feeling of congratulation to the national legislature, with the state- 
 ments which it has exhibited. The receipts of the existing year, greater by 
 nearly two millions of dollars than had been foreseen, with a prospect of 
 income for the next scarcely less abundant ; the receipts of the last four 
 years presenting a large and gratifying excess over those of the four years 
 preceding ; the foreign commerce of the country in a state of solid pros- 
 perity, from the improving condition of its leading departments of industry 
 at home, and consequent increase in the exportation of its products ; the 
 increase of its tonnage, that foundation of naval strength as well as com- 
 mercial riches, keeping pace with the increase of commerce ; the public 
 debt annually and rapidly decreasing, under the application of surplus 
 funds annually and rapidly increasing ; the public revenue preserved at an 
 equal value in every part of the Union, through the power of transfers 
 promptly made by the Bank of the United States, without expense or risk 
 to the nation, and the currency maintained in a healthful state by the same 
 institution : such is the great outline of the financial and commercial 
 condition of the country ; a condition the result of good laws faithfully 
 administered, and of the aggregate industry of an enterprising and free 
 people. 
 
 All which is respectfully submitted. 
 
 RICHARD RUSH. 
 
 TREASURY DEPARTMENT, 
 
 December 6, 1828.
 
 1823.] 
 
 SECRETARY OF THE TREASURY. 
 
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 452 
 
 REPORTS OF THE 
 
 [1828. 
 
 B. 
 
 A STA TEMENT exhibiting the values and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1827, 
 (consisting of the difference between articles paying duty, imported, 
 and those entitled to drawback, re-exported ;) and, also, of the nett 
 revenue which accrued that year, from duties on merchandise, tonnage, 
 passports, and clearances. 
 
 MERCHANDISE PAYING DUTIES AD VALOREM. 
 
 1,853 dollars, at 12 percent. - .,.'.- - $22236 
 2,023,963 dollars, at 12i pe,r cent. - - 252,99538 
 3,700,544 dollars, at 15 percent. - - - 555,081 60 
 7,24-2,123 dollars, at 20 percent. - - 1,448,424 60 
 25,139,978 dollars, at 25 percent. - , -6,284,99450 
 1,989,754 dollars, at 30 percent. - - 596,92620 
 6,929,166 dollars, at 33j per cent. - - -2,309,72200 
 4,396 dollars, at 35 percent. - 1,53860 
 78,639 dollars, at 40 percent. .... 31,45560 
 442,387 dollars, at 50 per cent. - - 221,19350 
 
 $11,702,554 34 
 
 11,350,348 41 
 23,052,902 75 
 
 20,559 02 
 
 47,552,803 dollars - - $11,702,55434 
 
 DUTIES ON SPECIFIC ARTICLES. 
 
 1. Wines, 2,989,760 gallons, average 23.68 cts. - $707,994 95 
 2. Spirits, 3,465,302 gallons, average 4-4.66 cts. - 1,547,76934 
 Molasses, 13,127,933 gallons, at 5 cts. - 656,39665 
 3. Teas, 5,372,956 pounds, average 33.52 cts. - 1,800,84919 
 Coffee, 31,895,217 pounds, at 5 cts. - 1,594,76085 
 4. Sugar, 55,123,515 pounds, average 3.05 cts. - 1,681,85047 
 5. Salt, 3,431,163 bushels.at 20 cts. - 686,232 tt) 
 6. All other articles - - -'. - 2,674,49436 
 
 Deduct duties refunded, after deducting therefrom duties on merchandise, 
 the particulars of which could not be ascertained, and difference in cal- 
 culation - - - - 
 
 Add 2J per cent, retained on drawback - - $123, 106 79 
 10 per cent, extra duty on foreign vessels - 28,461 07 
 Discriminating duty on French vessels 591 54 
 Interest on custom-house bonds - 10,904 28 
 Storage received - '--', -' ' 2,28458 
 
 
 23,032,343 73 
 165,348 26 
 
 Duties on merchandise 
 
 Duties on tonnage - - - - . - - j- - $129,48837 
 Light money - - .^..'f - 16,21339 
 
 23,197,691 99 
 
 145,701 76 
 13.114 00 
 
 Passports and clearances ... "v ] 
 L. -.- ^%| - * * 
 
 - '."> ( . ' 
 
 Deduct drawback on domestic refined sugar :<p ! - ; $11 , 168 28 
 drawback on domestic distilled spirits 5,834 36 
 
 23,356,507 75 
 17,002 64 
 
 Gross revenue I - 
 
 Expenses of collection - - '"k' r "~ ""-"""" 
 
 ,' * ' s fV ' i - . 5 - ' j 
 Nett revenue, (A) - ' 4 * ' 
 
 .. j 
 
 23,339,505 11 
 867,438 08 
 
 $22,472,067 03
 
 1828.] 
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes. 
 
 453 
 
 1. Wines Madeira - , j 
 Burgundy and Champagne - 
 Sherry and St. Lucar - 
 Lisbon, Oporto, &c. * | 
 Teneriffe, Fayal, &c. 
 Claret, &e. bottled - } 
 All other > } 
 
 2. Spirits Grain - 1st proof * 
 2d do. " V 
 3d do. ' >-- 
 4th do. 
 5th do. 
 Other materials, 1st and 2d' do. 
 3d do. .> 
 4th do. ''fT. 
 5th do. v f. 
 Above 5lh do. 
 
 116,584 gallons, at 
 26,011 do. 
 14,854 do. 
 198,979 do. 
 188,212 do. 
 99,635 do. 
 2,345,485 do. 
 
 100 cents 
 100 do. 
 60 do. 
 50 do. 
 40 do. 
 30 do. 
 15 do. 
 
 42 do. 
 45 do. 
 48 do 
 52 do. 
 60 do. 
 38 do. 
 42 do. 
 48 do. ' 
 57 do. 
 70 do. 
 
 12 cents 
 25 do. 
 28 do. 
 40 -do. 
 50 do. 
 
 3 do. 
 4 do. 
 
 20 cents 
 20 do. 
 
 $116,584 00 
 26,011 00 
 8,912 40 
 99,489 50 
 75,284 80 
 29,890 50 
 351,822 75 
 
 2,989,760 
 
 707,994 95 
 
 582,342 do. 
 6,254 do. 
 59,022 do. 
 4,506 do. 
 36,032 do. 
 398,288 do. 
 768,076 do. 
 1,600,429 do. 
 10,122 do. 
 231 do. 
 
 244,583 64 
 2,814 30 
 28,330 56 
 2,343 12 
 21,619 20 
 151,349 44 
 3-22,591 92 
 768,205 92 
 5,769 54 
 161 70 
 
 3. Teas Bohea "} 
 Souchong - ^ r. * 
 Hyson skin, &c. - - ._ 
 Hyson and young hyson 
 Imperial *,- 
 
 Add extra duty on teas imported 
 from other places than China 
 
 4. Sugar Brown - - , ^ 
 White 
 
 "*. \ 
 
 5. Salt Imported 
 Exported, bushels 71.791 
 Bounties and allowances 
 reduced into bushels, at 
 20 cents v ^ f 1,075,324 
 
 3,465,302 
 
 1,547,769 34 
 
 18,682 pounds, at 
 1,562,349 do. 
 1,107,975 do. 
 2,452,241 do. 
 231,709 do. 
 
 2,241 84 
 390,587 25 
 310,233 00 
 980,896 40 
 115,584 50 
 
 1,036 20 
 
 5,372,956 
 
 .1 , 
 
 52,309,013 do. 
 2,814,502 do. 
 
 1,800,849 19 
 
 1,569,270 39 
 112,580 08 
 
 55,123,515 
 
 1,681,850 47 
 
 4,578,278 bushels, at 
 1,147,115 do. 
 
 915,655 60 
 229,423 00 
 
 
 3,431,163 
 
 636,232 60
 
 454 REPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 [1828, 
 
 6. All other articles. 
 
 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Carpeting, Brussels, Wilton, &c. 
 
 - yards 
 
 77,082 
 
 50 
 
 $38,541 00 
 
 Venetian 
 
 do. 
 
 676,088 
 
 25 
 
 169,022 00 
 
 all other 
 
 - do. 
 
 9,922 
 
 20 
 
 1,984 40 
 
 Cotton bagging - 
 
 do. 
 
 4,376,701 
 
 3? 
 
 164.126 28 
 
 Vinegar - 
 
 - gallons 
 
 33,403 
 
 8 
 
 2^672 24 
 
 Beer, ale, and porter, in bottles - 
 in casks - 
 
 do. 
 do. 
 
 90,296 
 
 7,465 
 
 20 
 15 
 
 18,059 20 
 1,119 75 
 
 Oil spermaceti 
 
 do. 
 
 1 
 
 25 
 
 25 
 
 whale - - - 
 
 do. 
 
 157 
 
 15 
 
 23 55 
 
 olive * ' 
 
 do. 
 
 85,024 
 
 25 
 
 21,256 00 
 
 castor 
 
 - - do. 
 
 100 
 
 40 
 
 40 00 
 
 linseed 
 
 do. 
 
 37,816 
 
 25 
 
 9,454 00 
 
 hempseed - 
 
 , . do. 
 
 43 
 
 25 
 
 16 75 
 
 Cocoa - 
 
 - pounds 
 
 326,735 
 
 2 
 
 6,534 70 
 
 Chocolate 
 
 do. 
 
 2,581 
 
 4 
 
 103 24 
 
 Sugar candy ..'-_. 
 
 do. 
 
 272 
 
 12 
 
 32 64 
 
 loaf 
 
 .-' do. 
 
 347 
 
 12 
 
 41 64 
 
 other refined 
 
 do. 
 
 61 
 
 10 
 
 6 10 
 
 Fruits almonds - * 
 
 do. 
 
 457,147 
 
 3 
 
 13,714 41 
 
 currants 
 
 .. do. 
 
 97,362 
 
 3 
 
 2,920 86 
 
 prunes and plums 
 figs - - - - 
 
 ''-'' do. 
 do. 
 
 249,908 
 1,136,728 
 
 4 
 3 
 
 9,996 32 
 34,101 84 
 
 raisins, jar - 
 
 do. 
 
 2,659,731 
 
 4 
 
 106,389 24 
 
 other 
 
 do. 
 
 2,663,619 
 
 3 
 
 79,908 57 
 
 Candles tallow - 
 
 .- - do. 
 
 44,431 
 
 5 
 
 2,221 55 
 
 wax * - ..- 
 
 do. 
 
 415 
 
 6 
 
 24 90 
 
 spermaceti 
 
 do. 
 
 301 
 
 8 
 
 24U)8 
 
 Cheese 
 
 - ' do. 
 
 77,176 
 
 9 
 
 6,945134 
 
 Soap - - 
 
 do. 
 
 216,108 
 
 4 
 
 8,644 32 
 
 Tallow - 
 
 do. 
 
 1,042,643 
 
 1 
 
 10,426 43 
 
 Lard 
 
 -' do. 
 
 30 
 
 3 
 
 90 
 
 Beef and pork 
 
 - do. 
 
 208,168 
 
 2 
 
 4,163 36 
 
 Hams, and other bacon - 
 
 do. 
 
 4,454 
 
 3 
 
 133 62 
 
 Butter 
 
 - do. 
 
 2.882 
 
 5 
 
 144 10 
 
 Refined saltpetre 
 
 do. 
 
 27 
 
 3 
 
 81 
 
 Vitriol, blue or Roman - 
 
 do. 
 
 56 
 
 4 
 
 2 24 
 
 oil of - - 
 
 do. 
 
 900 
 
 3 
 
 27 00 
 
 Camphor, crude - 
 
 do.> 
 
 30,446 
 
 8 
 
 2,435 68 
 
 refined 
 
 do. 
 
 1 
 
 12 
 
 12 
 
 Salts, Epsom . - 
 
 do. 
 
 1,610 
 
 4 
 
 64 40 
 
 Glauber 
 
 - . do. 
 
 78 
 
 2 
 
 1 56 
 
 Spices Cayenne pepper 
 
 - do. 
 
 514 
 
 15 
 
 77 10 
 
 ginger - 
 
 - do. 
 
 304,670 
 
 2 
 
 6,093 40 
 
 nutmegs , 
 
 . - . -do. 
 
 21,788 
 
 60 
 
 13,072 80 
 
 cloves - 
 
 do. 
 
 38,020 
 
 25 
 
 9,505 00 
 
 pepper - 
 
 do. 
 
 389,718 
 
 8 
 
 31,177 44 
 
 pimento - 
 
 - do. 
 
 614,676 
 
 6 
 
 36,880 56 
 
 Snuff 
 
 do. 
 
 503 
 
 12 
 
 60 36 
 
 Indigo * - - 
 
 do. 
 
 450,791 
 
 15 
 
 67,618 65 
 
 Cotton 
 
 do. 
 
 42,292 
 
 3 
 
 1,268 76 
 
 Gunpowder 
 
 - do. 
 
 59,351 
 
 8 
 
 4,748 08 
 
 Bristles - - 
 
 - do. 
 
 275,557 
 
 3 
 
 8,266 71 
 
 Glue - ... ; . 
 
 do. 
 
 1,583 
 
 5 
 
 79 15 
 
 Paints ochre, dry 
 
 do. 
 
 1,052,558 
 
 1 
 
 10,525 58 
 
 in oil 
 
 do. 
 
 13,490 
 
 li 
 
 202 34 
 
 white and red lead 
 
 /-" 'do. 
 
 1,807,179 
 
 4 
 
 72,287 16 
 
 whiting - 
 
 do. 
 
 657,218 
 
 1 
 
 6,572 18 
 
 Lead pig, bar, and sheet ,' ,.- 
 
 - . do. 
 
 4,403,014 
 
 2 
 
 88,060 28 
 
 Cables, tarred 
 
 do. 
 
 24,142 
 
 4 
 
 965 68
 
 1828.] SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 455 
 
 6. All other articles continued. 
 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Cordage tarred ' - , - - 
 
 - pounds 
 
 392,911 
 
 4 
 
 $15,716 44 
 
 untarred 
 
 do. 
 
 74,618 
 
 5 
 
 3,730 90 
 
 Twine untarred, yarn - 
 
 do. 
 
 334,177 
 
 5 
 
 16,708 85 
 
 Corks - \-.f 
 
 do. 
 
 173,682 
 
 12 
 
 20,841 84 
 
 Copper rods and bolts - 
 
 do. 
 
 5,616 
 
 4 
 
 224 64 
 
 nails and spikes 
 
 do. 
 
 2,392 
 
 4 
 
 95 68 
 
 Fire-arms rifles ... 
 
 - ' No. 
 
 11 
 
 250 
 
 27 50 
 
 Iron and steel wire, not above No. 18 
 
 - pounds 
 
 013,635 
 
 5 
 
 30,681 75 
 
 above No. 18 
 
 do. 
 
 258,426 
 
 9 
 
 23,258 34 
 
 tacks, not above 16 oz. per M. 
 
 do- 
 
 24,133 
 
 5 
 
 1,206 65 
 
 above 16 oz. per M. - ,-?' 
 
 do. 
 
 4,271 
 
 5 
 
 213 55 
 
 nails - - 
 
 - da 
 
 600,151 
 
 5 
 
 30,007 55 
 
 spikes -... - 'f'^'- 
 
 .'-- >do. 
 
 57,384 
 
 4 
 
 2,295 36 
 
 chain cables - - f t - .*. 
 
 --,-,. do. 
 
 435,505 
 
 3 
 
 13,065 IE 
 
 mill saws i ';- ": - - .*&< 
 
 - No. 
 
 1,464 
 
 100 
 
 1,464 OC 
 
 anchors ."!!* r ' rl. 
 
 - pounds 
 
 35,722 
 
 2 
 
 714 44 
 
 anvils 
 
 - do. 
 
 1,178,686 
 
 2 
 
 23,573 7S 
 
 hammers and sledges '5*t. 
 
 do. 
 
 56,757 
 
 2i 
 
 1,418 92 
 
 castings, vessels of - , - v - .-*' 
 
 do. 
 
 627,847 
 
 1ft 
 
 9,417 71 
 
 other - -.":.ffff- 
 
 - da 
 
 489,381 
 
 1 
 
 4,893 81 
 
 round or brazier's rods 
 
 do. 
 
 680,366 
 
 3 
 
 20,410 9 
 
 nail and spike rods - 
 
 do. 
 
 11,555 
 
 3 
 
 346 65 
 
 sheet and hoop 
 
 do. 
 
 5,049,059 
 
 3 
 
 151,471 T 
 
 slit and rolled 
 
 - 'do. 
 
 201,334 
 
 3 
 
 6,040 OS 
 
 pig - - - - . T-'-'i 
 
 ~-.4' cwt. 
 
 26,086 
 
 50 
 
 13,043 (K 
 
 bar, rolled - - --,'-, 
 
 do. 
 
 170,146 
 
 150 
 
 255,219 (K 
 
 hammered 
 
 ;-, da 
 
 536,936 
 
 90 
 
 483,242 4( 
 
 Steel - ' - - 
 
 - - do. 
 
 25,503 
 
 100 
 
 25,503 OC 
 
 Hemp - v ,- "'-."",' '" 
 
 - - do. 
 
 119,354 
 
 175 
 
 208,869 5( 
 
 Alum - i:. *'i*' 'Wvi V.^v.i 
 
 .*-/- do. 
 
 84 
 
 250 
 
 210 0( 
 
 Copperas - - . : \ *. *' ,/+,_ '\- v ,v 
 
 -, . T ,. do. 
 
 2,929 
 
 200 
 
 5,858 (X 
 
 Wheat flour 
 
 - do. 
 
 32 
 
 50 
 
 16 (K 
 
 Coal - 
 
 - bushels 
 
 1,077,536 
 
 6 
 
 64,652 1( 
 
 Wheat - - 
 
 - do. 
 
 1,180 
 
 25 
 
 295 0( 
 
 Oats ,-.!-:- r V_ . 
 
 - do. 
 
 773 
 
 10 
 
 77 3C 
 
 Potatoes - - - r ."- 
 
 - . do. 
 
 38,102 
 
 10 
 
 3,810 2( 
 
 Paper folio and 4to post 
 printing - 
 
 - pounds 
 do. 
 
 12,994 
 
 852 
 
 20 
 10 
 
 2,598 8< 
 85 2( 
 
 Books printed previous to 1775 - 
 in other languages 
 
 do. 
 -*' do. 
 
 938 
 90,899 
 
 4 
 4 
 
 37 5: 
 3,635 9 
 
 Latin or Greek, bound 
 not bound 
 
 do. 
 - - do. 
 
 2,455 
 3,182 
 
 15 
 13 
 
 368 2. 
 413 6 
 
 all other, bound - *. - ^ f : , i 
 not bound 
 
 do. 
 
 . - . do. 
 
 12,982 
 59,304 
 
 30 
 26 
 
 3,894 & 
 15,419 
 
 Glass col, and not specified 
 all other articles of 
 
 -.' - do. 
 da 
 
 28,832 
 1,344,263 
 
 3 
 2 
 
 864 9 
 26,885 2 
 
 apothecaries' vials, not above 4 oz. 
 8 oz. 
 
 gross 
 do. 
 
 7,164 
 1,074 
 
 100 
 
 125 
 
 7,164 01 
 1,342 & 
 
 bottles, not above 1 quart 
 1 gallon 
 
 do. 
 do. 
 
 29,759 
 36 
 
 200 
 300 
 
 59,518 Oi 
 108 0( 
 
 demijohns 
 window, not above ft by 10 
 10 bv 12 
 
 - do. 
 100 sq.ft. 
 do. 
 
 52,534 
 964 
 456 
 
 25 
 300 
 350 
 
 13,133 & 
 2,892 Ol 
 1,596 01 
 
 above 10 by 12 
 uncut, in plates 
 
 do. 
 do. 
 
 4,114 
 633 
 
 400 
 400 
 
 16,456 01 
 2,532 Ol 
 
 Fish dried or smoked - -^ 
 
 - quintals 
 
 583 
 
 100 
 
 5S3 (X 
 
 pickled . salmon 
 
 - barrels 
 
 924 
 
 200 
 
 1,848 Oi 
 
 mackerel 
 
 i do- 
 
 39 
 
 150 
 
 58 5l 
 
 all other - 
 
 do. 
 
 174 
 
 100 
 
 174 01
 
 456 REPORTS OF THE 
 
 Explanatory Statements and Notes Continued. 
 
 [1828, 
 
 6. All other articles conlinued. 
 
 Quantity.' 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 Shoes and slippers silk 
 prunelle 
 ieather - 
 children's 
 Boots and bootees 
 Segars 
 
 pairs 
 do. 
 do. 
 do, 
 - . do. 
 M. 
 
 1,367 
 1,447 
 3,123 
 1,20 
 274 
 13,960 
 
 Cents. 
 
 30 
 25 
 25 
 15 
 150 
 250 
 
 $410 If 
 361 7 
 780 7f 
 168 Ot 
 411 (X 
 34,900 Ot 
 
 Deduct excess of exportation over importation: 
 
 3 
 
 Mace - 
 
 718 pounds, at 100 cents 
 
 $718 00 
 
 
 Cinnamon 
 
 11,676 pounds, at 25 cents 
 
 - .2,919 00 
 
 
 Cassia 
 
 - 126,248 pounds, at 6 cents 
 
 - 7,574 88 
 
 ''' *- 
 
 Tobacco, manufactured 
 
 13,372 pounds, at 10 cents 
 
 - 1,337 20 
 
 
 Shot - 
 
 5,957 pounds, at 3j cents 
 
 208 50 
 
 
 Muskets 
 
 8,602 each 150 cents 
 
 - 12,903 00 
 
 
 Paper foolscap 
 sheathing 
 
 43,890 pounds, at 17 cents 
 - 1,662 pounds, at 3 cents 
 
 - 7,461 30 
 49 86 
 
 
 other 
 
 6,953 pounds, at 15 cents 
 
 - 1 ,042 95 
 
 
 Bottles, not over 2 quarts 
 
 . 7 gross, at 250 cents 
 
 17 50 
 
 
 Playing cards 
 
 -'" 4.389 packs, at 30 cents 
 
 , 1,316 70 
 
 
 
 
 ; 
 
 35,548 S9 
 
 
 Carried to statement B 
 
 - 
 
 2,674,494 36 
 
 c. 
 
 STATEMENT exhibiting the amount of American and foreign ton- 
 nage employed in the foreign trade of the United States during the 
 year ending on the 31s/ day of December, 1827. 
 
 American tonnage in foreign trade 
 Foreign tonnage in foreign trade 
 
 - Tons 900,199 
 151,875 
 
 Total tonnage employed in the foreign trade of the United 
 States 
 
 Proportion of foreign tonnage to the whole amount of ton- 
 nage employed in the foreign trade of the United States 
 
 14.4 to 10O 
 
 TREASURY DEPARTMENT, 
 
 l\egitster : s Office, December 8, 1828. 
 
 JOSEPH NOURSE, Register
 
 1328.] 
 
 SECRETARY OF THE TREASURY. 
 
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 1828.] 
 
 SECRETARY OF THE TREASURY. 
 
 STA TEMENT of the sales of public lands, and of the receipts into 
 the land offices on account thereof, and of the expenses incidental to 
 the same, from the 1st of January, 1828, to the 3Qth of June following. 
 
 
 Nett amount 
 
 Purchase 
 
 Amount 
 
 Aggregate 
 
 Incidental 
 
 
 of lands sold. 
 
 money. 
 
 received 
 
 receipts. 
 
 expenses, 
 
 Land offices. 
 
 
 
 under the 
 
 
 salaries, 
 
 
 
 
 credit sys- 
 
 
 and com- 
 
 i 
 
 
 
 tem. 
 
 
 missions. 
 
 Marietta 
 
 Acres. 
 3,445.66 
 
 $4,307 07 
 
 8149 15 
 
 $4,456 22 
 
 $588 51 
 
 Zanesville - 
 
 16,255.62 
 
 20,169 42 
 
 955 01 
 
 21,124 43 
 
 1,160 84 
 
 Steubenville - 
 
 12,520.02 
 
 15,650 01 
 
 
 15,650 01 
 
 981 48 
 
 Chillicothe - 
 
 6,685.91 
 
 8,357 38 
 
 183 92 
 
 8,541 30 
 
 776 58 
 
 Cincinnati - 
 
 10,616.36 
 
 13,270 45 
 
 
 13,270 45 
 
 2,275 95 
 
 Wooster ... 
 
 5,867.64 
 
 7,334 54 
 
 
 7,334 54 
 
 761 71 
 
 Piqua - - 
 
 373.36 
 
 466 70 
 
 
 466 70 
 
 509 76 
 
 Tiffin 
 
 15,600.87 
 
 19,501 08 
 
 
 19,501 08 
 
 952 86 
 
 Jefiersonville 
 
 5,059.52 
 
 6,324 40 
 
 44 12 
 
 6,368 52 
 
 802 71 
 
 Vincennes - 
 
 8,786.74 
 
 10,983 45 
 
 200 00 
 
 11,183 45 
 
 6,677 23 
 
 Crawfordsville 
 
 52,851.77 
 
 66,054 74 
 
 
 66,054 74 
 
 2,411 07 
 
 Indianapolis ... 
 
 23,935.33 
 
 29,919 09 
 
 
 29,919 09 
 
 1,019 53 
 
 Fort Wayne - 
 
 80.00 
 
 100 00 
 
 
 100 00 
 
 506 05 
 
 Shawneetown 
 
 1,734.05 
 
 2,185 45 
 
 
 2,185 45 
 
 1,756 74 
 
 Kaskaskia - 
 
 1,356.17 
 
 1,695 23 
 
 184 93 
 
 1,880 16 
 
 858 86 
 
 Edwardsville 
 
 7,133.23 
 
 8,916 55 
 
 
 8,916 55 
 
 663 12 
 
 Vandalia 
 
 1,108.04 
 
 1,385 05 
 
 
 1,385 05 
 
 604 81 
 
 Palestine - .*;'.- 
 
 6,188.94 
 
 7,736 17 
 
 
 7,736 17 
 
 725 33 
 
 Springfield - *'". 
 
 12,502.41 
 
 15,628 01 
 
 
 15,628 01 
 
 814 21 
 
 St. Louis 
 
 11,972.71 
 
 14,965 94 
 
 
 14,965 94 
 
 761 97 
 
 Franklin 
 
 16,693.57 
 
 20,867 01 
 
 121 25 
 
 20,988 26. 
 
 919 60 
 
 Jackson 
 
 1,803.58 
 
 2,354 44 
 
 
 2,354 44 
 
 603 73 
 
 Palmyra - 
 
 11,474.85 
 
 14,343 60 
 
 
 14,343 60 
 
 767 19 
 
 Lexington - - - 
 
 10,052.99 
 
 12,566 28 
 
 
 12,566 28 
 
 1,335 24 
 
 St. Stephen's - 
 
 5,248.72 
 
 6,560 99 
 
 27 76 
 
 6,588 75 
 
 1,191 25 
 
 Cahaba "-T ' 
 
 29,710.01 
 
 37,137 81 
 
 44 95 
 
 37,182 76 
 
 1,466 91 
 
 Huntsville - 
 
 801.76 
 
 1,002 20 
 
 
 1,002 20 
 
 3,674 75 
 
 Tuscaloosa - 
 
 3,472.90 
 
 4,341 69 
 
 , 
 
 4,341 69 
 
 695 21 
 
 Washington - r 
 
 1,357.22 
 
 1,696 50 
 
 808 60 
 
 2,505 10 
 
 596 71 
 
 Mount Salus 
 
 20,795.82 
 
 25,994 58 
 
 \--Jx i^-'. 
 
 25,994 58 
 
 927 19 
 
 Augusta ,,' ' 
 
 553.40 
 
 691 74 
 
 _ 
 
 691 74 
 
 541 68 
 
 New Orleans ? ' ''',- 
 
 _ 
 
 
 
 _ 
 
 2,344 43 
 
 Opelousas 
 Ouachita - 
 
 1,195.04 
 1,791.21 
 
 1,493 79 
 2,239 01 
 
 104 85 
 
 1,598 64 
 2,239 01 
 
 557 55 
 731 69 
 
 Detroit 
 
 10,978.70 
 
 13,723 42 
 
 m 
 
 13,723 42 
 
 2,690 09 
 
 Monroe 
 
 3,138.44 
 
 3,923 04 
 
 __ 
 
 3,923 04 
 
 976 10 
 
 Little Rock - 
 
 334.00 
 
 417 50 
 
 _ 
 
 417 50 
 
 539 06 
 
 Batesville r ' s'j\ s 
 
 249.81 
 
 312 26 
 
 _ 
 
 312 26 
 
 470 78 
 
 Tallahasse - 
 
 17,873.38 
 
 22,493 57 
 
 - 
 
 22,493 57 
 
 1,123 66 
 
 
 341,599.75 
 
 427,110 16 
 
 2,824 54 
 
 429,934 70 
 
 47,752 14 
 
 NOTE. The causes of the amount of incidental expenses being so large will be found fully 
 explained in the note appended to the statement for the year 1827. 
 
 TREASURY DEPARTMENT, 
 
 General Land Office, Nov. 22, 1828. 
 
 GEO. GRAHAM, 
 
 Commissioner of the General Land Office.
 
 460 
 
 REPORTS OF THE 
 E. 
 
 [1828. 
 
 STATEMENT of moneys received into the Treasury, from all tources 
 other than customs and public lands, during- the year 1827. 
 
 Dividends on stock in the Bank of the United States 
 From arrears of direct tax - - $2,626 90 
 
 new internal revenue 19,885 68 
 
 fees on letters patent - - 10,560 00 
 
 cents coined at the mint 22,030 32 
 
 postage of letters - 101 00 
 
 fines, penalties and forfeitures 157 45 
 
 surplus emoluments of officers of the 
 
 customs 
 interest on balances due by banks to 
 
 the United States - 6,000 00 
 
 nett proceeds of vessels condemned 
 
 under the slave-trade acts - 10.844' 79 
 
 a person unknown, stated to be on 
 
 account of imports and tonnage - 6 00 
 
 moneys previously advanced on ac- 
 count of treaty with Spain 85 00 
 
 Balances of advances made in the War Department, re- 
 paid under the 3d section of the act of 1st May, 1820 - 
 
 Moneys received from Great Britain, under the convention 
 of 13th November, 1826, for slaves and other property 
 taken during the late war 
 
 $420,000 00 
 
 32,845 44 
 
 1,204,960 00 
 $1,758,235 41 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 4, 1828. 
 
 JOSEPH NOURSE, Register. 
 
 F. $ 
 
 STA TEMENT of the expenditures of the United States, for the year 
 
 1827. - 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ: 
 
 Legislature - $421,965 35 
 
 Executive departments - - - 501,793 05 
 
 Officers of the mint 9,600 00 
 
 Surveying department 25,176 93 
 
 Commissioner of the Public Buildings - 1,695 06 
 Governments in the Territories of the United 
 
 States*- ** .,- l-tt-r 42,46227 
 
 Judiciary - ,-, ,-. .-"- ' , - 225,44848 
 
 $1,228,141 04
 
 1823.] 
 
 SECRETARY OF THE TREASURY. 
 
 46J 
 
 Annuities and grants 
 
 Mint establishment - 
 
 Unclaimed merchandise 
 
 Light-house establishment 
 
 Surveys of public lands 
 
 Registers and receivers of land offices 
 
 Preservation of the public archives in Florida 
 
 Land claims in Florida Territory 
 
 Land claims in St. Helena land district 
 
 Roads within the State of Ohio 
 
 Roads within the State of Indiana - 
 
 Roads, canals, &c. within the State of Alabama 
 
 Roads, canals, &c. within the State of Missouri 
 
 Roads, canals, &c. within the State of Mississippi 
 
 Repairing the post road between Chatahoochie 
 and Line creek, Alabama - 
 
 Marine hospital establishment 
 
 Public buildings in Washington 
 
 Payment of balances to collectors of new in- 
 ternal revenue 
 
 Appropriation of prize money 
 
 Stock in the Louisville and Portland Canal 
 Company - '*- 
 
 Payment of claims for property lost, &c. 
 
 Payment of claims for buildings destroyed - 
 
 Miscellaneous expenses 
 
 Diplomatic department 
 
 Mission to the Congress of Panama - 
 
 Contingent expenses of foreign intercourse - 
 
 Relief and protection of American seamen - 
 
 Prize causes 
 
 Treaties with Mediterranean powers 
 
 Treaty of Ghent (6th and 7th articles) 
 
 Treaty of Ghent (1st article) 
 
 Payment of claims tinder the 9th article of the 
 
 treaty with Spain - 
 Claims on Spain 
 Awards under the first article of the treaty of 
 
 Ghent - - : 
 
 MILITARY ESTABLISHMENT. 
 
 Pay of the army 
 Subsistence - 
 Forage 
 
 Quartermaster's department - 
 Arrearages of the army 
 Bounties and premiums 
 Purchasing department 
 Purchase of woollens for 1828 
 
 $2,000 00 
 
 40,588 86 
 
 247 64 
 
 324,859 78 
 
 53,718 15 
 
 3,256 14 
 
 1,625 00 
 
 2,971 24 
 
 1,502 78 
 
 7,390 9L 
 
 7,352 54 
 
 6,540 36 
 
 1.981 45 
 
 4,717 11 
 
 6,000 00 
 
 89,137 42 
 
 175,727 35 
 
 2.637 13 
 2,202 50 
 
 30,000 00 
 
 608 75 
 
 8,134 74 
 
 52,923 82 
 
 117,126 55 
 17,953 52 
 36.248 63 
 30,617 68 
 4,000 00 
 26.505 54 
 11,765 06 
 13,706 44 
 
 824 00 
 1,817 72 
 
 398,646 73 
 
 659,211 87 
 
 $826,123 67 
 
 2,713,476 58 
 
 990,004 21 
 226.556 41 
 
 44,519 26 
 326,889 48 
 
 12,387 24 
 
 14,092 16 
 228,967 08 
 
 20,000 00
 
 462 
 
 REPORTS OF THE 
 
 [1828. 
 
 Expenses of recruiting - $11,600 54 
 
 Ordnance - - 24,733 52 
 
 Arming and equipping the militia - 199,397 59 
 
 Armories - 366,047' 27 
 
 Arsenals - 32,564 96 
 
 Arsenal at Vergennes - - 8,600 00 
 
 Arsenal at Augusta, Maine - - 4,581 60 
 
 Arsenal at Augusta, Georgia - - 32,286 69 
 
 Arsenal at St. Louis - - 15,000 00 
 
 Hospital department - - 28,023 84 
 
 Contingencies of the army - - 8,223 66 
 
 Repairs and contingencies of fortifications - 22,906 23 
 
 Fort Monroe - - - 87,396 97 
 
 Fort Calhoun - - - - - 56,817 24 
 
 Fort Adams - - 106,801 47 
 
 Fort Hamilton - 66,784 09 
 
 Fort Jackson - - 90,144 78 
 
 Fort at Cape Fear, North Carolina - - 29,930 00 
 
 Fort Macon, at Beaufort, North Carolina - 49,464 42 
 
 Fort at Bienvenue - - 40,000 00 
 
 Fort at Mobile Point - - - 72,951 46 
 
 Fort at Rigolets - 33,670 71 
 
 Armament of new fortifications - 63,413 09 
 
 Surveys, &c. of roads and canals - 48,242 44 
 
 Continuation of the Cumberland road - ; - 163,72000 
 Preservation and repairs of the Cumberland 
 
 road - - - 25,510 00 
 
 Road from Memphis to Little Rock - - 2,065 00 
 
 Road from Little Rock to Cantonment Gibson 2,000 00 
 Road from Fort Smith to Fort Tovvson >'*.* 2,000 00 
 Road from Colerain to Tampa bay - ;,' 5,916 00 
 Old King's road from the Georgia line (by- St. 
 
 Augustine) to New Smyrna - 5,000 00 
 
 Road from Detroit to Chicago - 20,000 00 
 
 Improving the Ohio and Mississippi rivers - 26.716 00 
 
 Improving the navigation of the Ohio river - 9,000 00 
 
 Improving Hyannis harbor, Massachusetts - 1.000 00 
 
 Improving Cleaveland harbor, Ohio - - 4,500 00 
 
 Improving Pascagoula harbor, Mississippi river 8,000 00 
 
 Deepening the harbor of Presque Isle -* 5,484 81 
 
 Deepening the harbor at Sackett's Harbor - 3,000 00 
 
 Preservation of islands in Boston harbor - 9,115 27 
 
 Repairs of Plymouth beach - 2,184 90 
 
 Removing obstructions in Huron creek, Ohio - 3,500 00 
 
 Removing obstructions in Cunningham creek O. 1,000 00 
 
 Removing obstructions in Ashtabula creek, 0. - 10,915 18 
 
 Removing obstructions in Grand river, Ohio - 4,620 00 
 
 Removing obstructions in Mobile harbor, Ala. 5,605 78 
 
 Removing obstructions in Saugatuck river, Me. 1,500 00 
 
 Building piers on Steel's Ledge, Belfast, Maine 400 00 
 
 Building piers at New Castle, Delaware - 2,000 00 
 
 Building piers at Buffalo creek, New York - 5,000 00 

 
 1828.] 
 
 SECRETARY OF THE TREASURY. 
 
 00 
 00 
 12,000 00 
 
 2,755 
 
 Piers, beacons, &c. in the harbor of Saco, Maine $4,450 00 
 
 Piers at the mouth of Oswego harbor, New York 6,010 39 
 
 Piers at the mouth of Dunkirk harbor. New York 3,000 00 
 
 Piers at Laplaisance bay, Michigan - 1,000 00 
 Examining" piers at Port Penn, Marcus Hook, and 
 
 Fort Mifflin 100 
 Survey of a canal from the Atlantic to the Gulf 
 
 of Mexico - -:,<V 
 Connecting the Detroit and the river Raisin with 
 
 the Miami and Sandusky roads 
 Surveying the harbor of Church's Cove, Rhode 
 
 Island - 200 00 
 
 Surveying the harbor of Stonington, Connecticut 200 00 
 Surveying the roads from Detroit to Saginaw, 
 
 Fort Gratoit, and Lake Huron 1,500 00 
 
 Erection of a wharf at Fort Wolcott, Rhode Island 500 00 
 Purchase of a house and lot of land at Eastport, 
 
 Maine 1,800 00 
 
 Purchase of lots at St. Augustine, Florida 600 00 
 
 Barracks at Savannah, Georgia - - 11,414 40 
 
 Barracks at Fort St. Philip - 12,000 00 
 
 Barracks at Fort Michilimackinac 6,000 00 
 
 Military cantonment near St. Louis - 16,591 54 
 
 Settlement of the Georgia militia claims - - 100,600 00 
 
 System of cavalry, artillery, and infantry exercise 1,675 24 
 
 Military Academy, West Point - - 41,143 95 
 
 Maps, plans, and books for the War Department - 415 13 
 Relief of officers, &c. engaged in the Seminole 
 
 campaign 881 53 
 
 Relief of Capt. Bigger's company of rangers - 4,635 91 
 
 Relief of sundry individuals - 10,553 80 
 
 Interest due to the State of Pennsylvania - 17,577 60 
 
 Payment of claims for property lost 220 00 
 
 Revolutionary pensions - 796,012 52 
 
 Invalid and half-pay pensions - - 170,567 56 
 
 Pensions to widows and orphans 9,558 78 
 
 Boundary lines between Georgia and Florida t - 3,745 80 
 Suppression of Indian aggressions on the frontiers 
 
 of Georgia and Florida 13,096 71 
 Carrying into effect certain Indian treaties (act 2d 
 
 March, 1827) - - 159,847 37 
 
 Rations to Florida Indians - 30,015 96 
 Relief of Florida Indians - 'b-V 12,750 25 
 Running the line of land assigned to Florida In- 
 
 O c\f\r\ ^ f* 
 
 dians - 
 
 Presents to Indians - 14,940 45 
 
 Contingencies of Indian department - 95,787 32 
 
 Creek treaty, per act of 22d May, 1826 - - 101,383 84 
 
 Treaty with the Choctaw and Chickasaw Indians 2,445 37 
 Effectina- certain Indian treaties (act of 20th May, 
 
 1826)- - - 5,75000 
 
 Emigration of the Creeks beyond the Mississippi 29,080 82
 
 4G4 
 
 REPORTS OF THE 
 
 [1828. 
 
 Civilization of the Indians 
 
 Pay of Indian agents --. 
 
 Pay of sub-agents 
 
 Indian annuities 
 
 Choctaw schools, (treaty of 18th October, 1820) - 
 
 Provisions to Quapaw Indians - 
 
 From which deduct the following repayments : 
 Fortifications - - $53 19 
 
 Repairs of Fort Constitution - 72 14 
 
 Survey of Marblehead and Holmes's Hole 95 82 
 Survey of Laplaisance bay ,- - 89 11 
 
 Survey of Sandusky bay - 41 70 
 
 Road from Ohio to Detroit - 700 00 
 
 Road from Pensacola to St. Augustine - 546 00 
 Effecting Creek treaty, per act of 3d 
 
 March, 1825- - 8 00 
 
 Holding treaties with the Indians claim- 
 ing lands in Indiana .- - 227 
 
 $10,296 84 
 32,356 65 
 17,007 02 
 
 209,529 29 
 10,270 90 
 2,000 00 
 
 5,677,349 85 
 
 1,608 23 
 
 -5,675,741 ,62 
 
 NAVAL ESTABLISHMENT. 
 
 Pay of the navy afloat - 1,172,6 1& 19 
 Pay of the navy shore stations - 166.063 39 
 Provisions - 575,769 23 
 Medicines and hospital stores - v*,.. 34,31452 
 Repairs of vessels - 417,365 55 
 Navy yards, docks. &c. * 196,916 01 
 Navy yard, Pensacola 57,499 63 
 Ordnance and ordnance stores 36,407 34 
 Building ten sloops of war - <- . 184,80424 
 Repairs of sloops of war 20,181 38 
 Gradual increase of the navy - - 735,587 68 
 Gradual improvement of the navy r 100,104 45 
 Prohibition of the slave trade - 29.603 89 
 Suppression of piracy - 1,162 65 
 Superintendents, artificers, &c. - ' 70,720 20 
 Survey of the harbors of Brunswick, Savan- 
 nah, &c. - 4,078 43 
 Arrearages prior to 1827 14,769 55 
 Surveys and estimates for dry docks - 2,707 27 
 Contingent, prior to 1824 10,114 68 
 Contingent, not enumerated, 1826 v>* 3,267 06 
 Contingent, for 1827 - * 218,340 81 
 Contingent, not enumerated, 1827 1,219 12 
 Pay of the marine corps - 161,531 30 
 Clothing for the marine corps - M> 26,040 70 
 Fuel for the marine corps 5,649 60 
 Medicines for the marine corps 1,717 55 
 Barracks for the marine corps 3, 146 66 
 Military stores for the marine corps -- 402 00
 
 1828.] 
 
 SECRETARY OF THE TREASURY. 
 
 Contingent for the marine corps 
 Contingent arrearages for the marinecorps 
 Contingent, additional, 1826, for the ma- 
 
 rine corps 
 
 f 
 
 From which deduct the following re- 
 payments : 
 
 Contingent for 1824 - - $677 44 
 Contingent for 1825 - - 491 62 
 
 Contingent, not enumerated, 
 
 1825 - 108 88 
 
 Contingent for 1826 - - 1,878 00 
 
 Building barges 67 16 
 
 Building five schooners 58 33 
 
 Swords and medals - " 579 62 
 
 Navy yard, Philadelphia 13 75 
 
 308 05 
 
 4,267,752 25 
 
 3,874 80 
 
 PUBLIC DEBT. 
 
 Interest on the funded debt 3,482,509 21 
 Redemption of the six per cent, stock of 
 
 1813, (loan of $16,000,000) - - 6,507,466 85 
 Interest on the Louisiana stock - 3,562 30 
 Reimbursement of the Mississippi stock - 1,642 48 
 Paying certain parts of the domestic debt 21 12 
 Paying the principal and interest of Trea- 
 sury notes - 8,466 44 
 
 From which deduct the following re- 
 payment : 
 
 Redemption of six per cent, stock of 1813, 
 ($7,500,000) - 
 
 10,003,668 40 
 
 01 
 
 1,263,877 45 
 
 10,003,668 39 
 $22,656,764 04 
 
 TREASURY DEPARTMENT, Register's Office, December 4, 1828. 
 
 JOSEPH NOURSE, Register. 
 
 STATEMENT of the expenditures of the United States, from the 1st 
 of January to the 30th September, 1828. 
 
 CIVIL, MISCELLANEOUS, AND DIPLOMATIC, VIZ : 
 
 Legislature- - '"-/ -$520,55752 
 
 Executive department - - 392,577 05 
 
 Officers of the mint 7,200 00 
 
 Surveying department - 15,613 26 
 VOL. ii. 30
 
 466 
 
 
 [1828. 
 
 Commissioner of the Public Buildings - $1,500 00 
 Governments in the Territories of the United 
 
 States --- - 35,147 59 
 
 Judiciary - - 192,928 62 
 
 Annuities and grants 1,698 91 
 
 Mint establishment - ..-, 26,388 95 
 
 Unclaimed merchandise 316 84 
 
 Light-house establishment - - 172,648 00 
 
 Surveys of public lands - 37,647 97 
 
 Registers and receivers of land offices - 1,250 00 
 Preservation of the public archives in Florida 
 
 Territory - 750 00 
 Land claims in Florida Territory , 2,554 75 
 Land claims in Alabama - 2,819 67 
 Land claims in Michigan - 297 13 
 Roads within the State of Ohio 4,215 41 
 Roads within the State of Indiana - - 11,34625 
 Roads, canals, &c. within the State of Alabama 4,632 69 
 Roads, canals, &c. within the State of Missouri 6,332 67 
 Marine hospital establishment - - 49,159 70 
 Public buildings in Washington - 86,00623 
 Payment of balances to collectors of new in- 
 ternal revenue - 192 46 
 Stock in the Louisville and Portland Canal 
 
 Company - - 30,000 00 
 Stock in the Chesapeake and Ohio Canal 
 
 Company - - 10,000 00 
 
 Payment of claims for property lost, &c. 75 50 
 
 Appropriation for navy hospital fund - 46,217 14 
 Indemnifying the owners of the British ship 
 
 Union - - - 23.474 00 
 Repayment for lands erroneously sold by the 
 
 United States 
 Revolutionary claims 
 Miscellaneous expenses 
 
 Diplomatic department - 102,77998 
 
 Contingent expenses of foreign intercourse - 15,75669 
 
 Relief and protection of American seamen - 11,74730 
 
 Prize causes- -V^ T*. 8,00000 
 
 Treaties with Mediterranean powers - 33,730 00 
 
 Treaty of Ghent, (6th and 7th articles) - 2,700 34 
 
 Treaty of Ghent, (1st article) . 9,80445 
 Awards under the 1st article of the treaty of 
 
 Ghent ' r -" i ~K>T > 
 &3I .\'yV';< 
 
 1,165,524 04 
 
 
 
 - 763,688 26 
 
 MILITARY ESTABLISHMENT. 
 
 ray of the army 
 Subsistence - 
 
 - 807,155 65 
 
 - 177,965 98 
 
 885,781 17 
 
 948,207 02 
 2,999,512 23
 
 1828.] 
 
 SECRETARY OF THE TREASURY. 
 
 Forage . $35,821 02 
 
 Quartermaster's department - - 380,484 90 
 
 Arrearages of the army - - 13,955 37 
 
 Bounties and premiums - - 14,017 16 
 
 Expenses of recruiting < >'- ; . . 11,25274 
 
 Purchasing department . * - 152,879 70 
 
 Purchase of woollens for 1829 - - - 10,000 00 
 
 Ordnance . . 65,609 22 
 
 Arming and equipping the militia - - 165.382 90 
 
 Armories $* - 295,414 40 
 
 Arsenals . 60,292 08 
 
 Arsenal at Augusta, Maine - 24,000 00 
 
 Arsenal at Augusta, Georgia - ( - 16,778 81 
 
 Hospital department - - 14,151 99 
 
 Contingencies of the army - 10,353 92 
 
 Expenses of the board of visiters to West Point 1,500 00 
 
 Repairs and contingencies of fortifications - 14,232 24 
 
 Fort Monroe - ... 76,354 55 
 
 Fort Calhoun - - ... ' - 63,135 41 
 
 Fort Adams - j, .' ll - - 66,504 32 
 
 Fort Hamilton - "- . - v - : * fi ' r - 60,35903 
 
 Fort Jackson - . - - 47,744 00 
 
 Fort Macon, at Beaufort '"'-"' ''** - 55,361 98 
 
 Fort at Cape Fear - V '- - 34,72930 
 
 Fort at Mobile Point .- ff 'I' ttl - - 80,000 00 
 
 Fort at Pensacola - " * - 4,000 00 
 
 Fort Delaware - 1 28 
 
 Armament of new fortifications - 114,660 64 
 
 Surveys, &c.. roads apd canals - - 28,963 66 
 
 Continuation of the Cumberland road - - 128.508 36 
 
 Repairs of the Cumberland road - 5,000 00 
 
 Road from Memphis to Little Rock - - 9,470 18 
 
 Road from Little Rock to Cantonment Gibson - 5,300 00 
 
 Road from Fort Smith to Fort Towson - 8,884 00 
 
 Road from Pensacola to St. Augustine - 2,000 00 
 
 Road from Detroit to Saginaw, &c. - 230 14 
 Old King's road from the Georgia line, by St. 
 
 Augustine, to New Smyrna - 3,000 00 
 
 Military road in the State of Maine - 1,000 00 
 
 Improving the Ohio and Mississippi rivers - 31,605 31 
 
 Improving the navigation of the Ohio river - 6,000 00 
 
 Improving Hyannis harbor, Massachusetts - 8,000 00 
 
 Improving Cleaveland harbor, Ohio - - 5,500 00 
 
 Deepening the harbor of Presque Isle - - 6,223 18 
 
 Deepening the harbor of Sackett's Harbor 500 00 
 
 Preservation of islands in Boston harbor 2,00000 
 
 Removing obstructions in Huron creek, Ohio - 4,413 35 
 
 Removing obstructions in Cunningham creek, O. 1,517 76 
 
 Removing obstructions in Ashtabula creek, Ohio 2,000 00 
 
 Removing obstructions in Grand river, Ohio - 3,200 00 
 
 Removing obstructions in Mobile harbor, Ala. - 553 00 
 
 Removing obstructions in Appalachicola river, Fl. 1,500 00 
 
 ' 
 
 , 

 
 REPORTS OF THE 
 
 Removing obstructions in Piscataqua river - $2,500 00 
 
 Removing obstructions in Black river, Ohio - 1,000 00 
 
 .Building piers on Steel's ledge, Belfast, Maine - 33 76 
 
 Building piers at Newcastle, Delaware 5.000 00 
 Building piers at the mouth of Dunkirk harbor, 
 
 New York - - 3,000 00 
 Building piers at the mouth of Oswego harbor, 
 
 New York - 13,281 27 
 
 Building piers at Laplaisance bay, Michigan - 2,977 81 
 Piers, beacons, &c., within the harbor of Saco, 
 
 Maine - 2,550 00 
 
 Pier adjacent to the pier at Buffalo, New York - 20,000 00 
 Repairing public piers at Port Penn, Marcus 
 
 Hook, and Fort Mifflin 4,413 00 
 Survey of a canal from the Atlantic to the Gulf 
 
 of Mexico - 308 62 
 
 Surveying the Colbert shoals, in Tennessee river 200 00 
 
 Survey of the harbor of Nantucket, Mass. 300 00 
 
 Barracks at Savannah, Georgia - 3,038 11 
 
 Military cantonment near St. Louis, Missouri - 996 93 
 Balances due to certain States on account of 
 
 militia - 7,591 20 
 
 Settlement of the Georgia militia claims 315 56 
 
 Military Academy at West Point - 25,701 36 
 Relief of officers, &c., engaged in the Seminole 
 
 campaign - 698 94 
 Relief of Captain Bigger's company of rangers - 135 50 
 Relief of sundry individuals - - 29,852 33 
 Ransom of American captives - 242 25 
 Revolutionary pensions - 670,627 65 
 Invalid and half-pay pensions - - 106,592 S3 
 Pensions to widows and orphans - 4,412 37 
 Suppression of Indian aggressions on the fron- 
 tiers of Georgia and Florida - 3,576 15 
 Pay, &c., of Illinois and Michigan militia, for the 
 
 suppression of Indian disturbances - - 39,889 53 
 Presents to Indians - 14,931 82 
 Contingencies of the Indian department - 90.449 12 
 Creek treaty, per act of 22d May, 1826 - 56,504 76 
 Emigration of the Creeks beyond the Mississippi 31,134 25 
 Civilization of Indians , - 5,833 00 
 Pay of Indian agents Jr - 21,65000 
 Pay of sub-agents ( 7- ' 9,691 13 
 Indian annuities - 189,839 61 
 Choctaw schools, (treaty of 18th October, 1820) 8,980 42 
 Treaty with the Choctaws 4,077 57 
 House for sub-agents, interpreters, &c. - 14,324 00 
 Extinguishment of the claims of Cherokee In- 
 dians to lands in Georgia - - 500 00 
 Extinguishment of the claims of Cherokee In- 
 dians to lands in North Carolina - 20,613 88 
 

 
 1828.] SECRETARY OF THE TREASURY. 
 
 Carrying into effect certain Indian treaties, 
 
 (act 24th May, 1828) - $111,791 00 
 
 Holding treaties with the Chippewas, &c. 
 
 (act 24th May, 1828) - - 15,000 00 
 
 Exploring of the country west of the Mis- 
 sissippi, by a delegation of Indians 6,200 00 
 
 4,690,223 36 
 
 From which deduct the following repay- 
 ments : 
 
 Arsenal at Vergennes - - $ 68 81 
 
 Wall around the arsenal on the 
 
 Schuylkill - 70 53 
 
 Survey of the harbor of Church's 
 
 cove - 4 81 
 
 Survey of Saugatuck river and 
 
 harbor - 30 03 
 
 Survey of Piscataqua river 9 54 
 
 Survey of Hyannis harbor 27 00 
 
 Repairs of Fort Constitution - 1 50 
 
 Erecting piers at Marcus Hook, 
 
 PortPenn, (fee. 36 11 
 
 House and lot at Eastport, Me- - 5 32 
 
 Repairs of wharf at Fort Wolcott 37 83 
 
 Brigade of militia - - 1,000 00 
 
 Treaty with the Cherokees, (act 
 of 20th April, 1818 
 
 469 
 
 ! 
 
 - 2,26507 
 Provisions for Q,uapaw Indians - 2,000 00 
 
 . 
 NAVAL ESTABLISHMENT. 
 
 Pay of the navy afloat 
 
 Pay of the navy shore stations 
 
 Pay of naval constructors, superintend'ts, <fcc. 
 
 Provisions 
 
 Medicines and hospital stores - 
 
 Repairs of vessels - . t- 
 
 Navy yards 
 
 Navy yard at Philadelphia 
 
 Navy yard at Washington 
 
 Ordnance and ordnance stores 
 
 Building ten sloops of war - 
 
 Gradual increase of the navy 
 
 Gradual improvement of the navy 
 
 Prohibition of the slave trade 
 
 Survey of the harbors of Savannah, Bruns- 
 
 wick, <fcc. 
 
 Arrearages prior to 1827 - 
 Arrearages prior to 1823 - 
 Outfits 
 
 Prize money due to Thomas Douty 
 
 Captors of Algerine vessels 
 
 Relief of sundry individuals 
 
 Contingent, prior to 1824 
 
 5,556 55 
 
 $4,684,666 81 
 
 918,912 72 
 116,197 72 
 
 53,600 62 
 414,193 33 
 
 48,954 86 
 
 468,476 65 
 
 141,037 80 
 
 13 75 
 
 22 17 
 
 34,417 43 
 194,690 29 
 
 59,128 04 
 288.461 19 
 
 28,274 17 
 
 1,154 87 
 
 4,697 16 
 
 9,838 69 
 
 25,000 00 
 
 19 96 
 
 19 96 
 
 13,360 68 
 
 863 68
 
 470 REPORTS OF THE [1828. 
 
 Contingent for 1824 - $2,39882 
 
 Contingent, not enumerated, for 1 824 - 125 00 
 
 Contingent, not enumerated, for 1825 - 108 88 
 
 Contingent for 1826 2,822 98 
 
 Contingent, not enumerated, for 1826 - 169 70 
 
 Contingent for 1827 ifo.. 1,218 34 
 
 Contingent, not enumerated, for 1827 3,293 45 
 
 Contingent for 1828 '-, 201,00973 
 
 Contingent, not enumerated, for 1828 V^iy 500 00 
 
 Breakwater near the mouth of Delaware bay 5,000 00 
 
 Pay and subsistence of the marine corps - 95,679 37 
 
 Clothing for marine corps - - 29,259 11 
 
 Fuel for marine corps 6,098 17 
 
 Medicines for marine corps 2,726 34 
 
 Barracks for marine corps - 21,827 03 
 
 Military stcras for marine corps .?-, 1,276 67 
 
 Contingent fjr marine corps .> 10,45291 
 
 3,205,302 24 
 
 From which deduct the following repay- 
 ments : 
 Rewarding the officers and crews 
 
 of the Wasp and Constitution $3,418 50 
 Contingents for 1825 - - 553 06 
 
 Houses for ships in ordinary - 190 00 
 
 4,161 56 
 $3,201,140 68 
 
 PUBLIC DEBT. 
 
 e r 
 
 Interest on the funded debt - 2,357,556 67 
 
 Redemption of the 6 percent, stock of 1813, 
 
 (loan of sixteen millions) - 2,744,423 91 
 
 Redemption of the 6 per cent, stock of 1813, 
 
 (loan of seven and a half millions) - 2,256,039 21 
 
 Reimbursement of Mississippi stock - 900 00 
 
 Paying the principal and interest of Trea- 
 sury notes - 668 40 
 
 7,359,588 19 
 
 $18,244,907 91 
 
 .. - ^o . 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 4, 1828. 
 
 JOSEPH NOURSE, Register. 
 
 . 

 
 1828.] SECRETARY OF THE TREASURY. 
 
 No. 1. 
 
 471 
 
 STATEMENT of the funded debt of the United States, as it will 
 exist on the 1st of January, 1829 ; exhibiting, also, the dates of the 
 acts under which the several stocks wire constituted, and the periods at 
 which they are, or were, redeemable. 
 
 Stocks. ^ 
 
 Date of acts con- 
 stituting the se- 
 veral stocks. 
 
 Periods when re- 
 deemable. 
 
 Amounts. 
 
 Three per cent, stock, 
 (revolutionary debt) 
 
 Six per cent, stock - 
 Six per cent, stock - 
 
 Amount at six per 
 cent. .-'.; 
 Five per cent, stock, 
 subscription to the 
 Bank of the U. S. - 
 
 Five per cent, stock - 
 Five per eent. stock - 
 Exchanged five per 
 cent, stock 
 
 Amount at five per 
 cent. 
 Four and a half per 
 cent, stock - 
 Four and a half per 
 cent, stock - 
 Exchanged four and a 
 half per cent, stock 
 Exchanged four and a 
 half per cent, stock 
 
 Amount at four and a 
 half per cent. 
 
 Aug. 4, 1790 - 
 
 March 24, 1814 
 March 3, 1815- 
 
 April 10, 1816 - 
 
 May 15, 1830 - 
 March 3, 1821- 
 
 April 20, 1822 - 
 
 May 24, 1824 - 
 May 26, 1824 - 
 May 26, 1824 - 
 March 3, 1825 - 
 
 At the pleasure of 
 Government 
 In 1827 . 
 In 1828 - 
 
 . .mitfisJwte} . 
 [T*jfMW*f*MiJ rff o 
 
 :O TV^j- 
 At the pleasure of 
 Government 
 In 1832 - 
 In 1835 - H--t 
 
 One-third in 1830; 
 one-third in 1831; 
 one-third in 1832- 
 
 ^;!"i;* < : tn?&;7j 
 
 In 1832 - 
 In 1832 | - 
 
 One-half in 1833 ; 
 one-half in 1834- 
 One-half in 1829 ; 
 one-half in 1830 - 
 
 $6,789,722 93 
 9,490,099 10 
 
 $13,296,249 45 
 16,279,822 02 
 
 ftJi^go.ftA 
 
 iiT 
 
 12,792,000 20 
 15,994,064 11 
 
 7,000,000 00 
 999,999 13 
 4,735,296 30 
 
 56,704 77 
 
 5,000,000 00 
 5,000,000 00 
 
 4,454,727 95 
 1,539,336 16 
 
 
 $58,362,13578 
 
 
 TREASURY DEPARTMENT,-.:^ 
 
 Register's Office, December 4, 1828. 
 
 JOSEPH NOURSE, Register. 
 
 v!; 
 
 s
 
 472 
 
 : , REPORTS OF THE 
 
 No. 2. 
 
 [1828. 
 
 The actual receipts into the Treasury from all sources, 
 during the year 1827, amounted to - $22,966,363 96 
 
 Viz, 
 
 Customs - $19,712,283 29 
 
 Lands, (statement D) - 1,495,845 26 
 
 Dividends on stock in the Bank of the 
 United States, (statement E) 420,000 00 
 
 Arrears of internal duties, direct tax, and 
 other incidental receipts, (statement E) 100,429 97 
 
 Repayments of advances made in the War 
 Department for services and supplies 
 prior to 1st July, 1815, (statement E) '. 32,845 44 
 
 Moneys received from the British Gov- 
 ernment, under the convention of the 
 13th November, 1826, (statement E) - 1,204,960 Ofr 
 
 Making, with the balance in the Treasury 
 on the 1st January, 1827, of - 
 
 6,358,686 18 
 29,325,050 14 
 
 An aggregate of - 
 
 The actual expenditures of the United States, on all ac- 
 counts, during the year 1827, amounted (statement F) to 22,656,764 04 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $2.314.829 85 
 
 Military establishment, including fortifi- 
 cations, ordnance, Indian department, 
 revolutionary and military pensions, 
 arming militia, and arrearages^ prior to 
 1st January, 1817 
 
 Naval service, including the gradual im- 
 provement of the navy 
 
 Public debt 
 
 Payments of awards to owners of slaves 
 and other property, under the conven- 
 tion with the British Government of 
 the 13th November, 1826 
 
 5,675,741 62 
 
 4,263,877 45 
 10,003,668 39 
 
 
 398,646 73 
 
 Leaving a balance in the Treasury, on the 1st of January, 
 
 1828, of - .- -23 ,* fc*i *;?w - 
 
 $6,668,286 10 
 
 TREASURY DEPARTMENT, 
 
 Register's Office, December 4, 1828. 
 
 JOSEPH NOURSE, Register.
 
 1828.] SECRETARY OF THE TREASURY. 473 
 
 No. 3, 
 
 The actual receipts into the Treasury, during the first three quarters of the 
 vcar 1828,'are estimated to have amounted to O> - . .'. _ $18,633.580 27 
 
 * TT ' 
 
 Viz. 
 
 Customs - $17,309,169 73 
 
 Lands ,'-V - ... 564,50733 
 
 Dividends on stock in the Bank of the United States - 455,00000 
 
 Arrears of internal duties, direct tax, and incidental receipts 289 , 152 72 
 Repayment of advances made in the War Department, 
 
 prior to the 1st July, 1815 15,760 49 
 
 And the actual receipts into the Treasury, during the fourth quarter of the 
 year, are estimated at - - 5,461,28340 
 
 Making the total receipts into the Treasury, during the year 1828 - - 24,094,863 67 
 
 And with the balance in the Treasury on the 3lst December, 1827, of - 6,668,286 10 
 
 An aggregate, estimated at - , . - 30,763,149- 77 
 
 The expenditures, during the first three quarters of 1828, 
 have amounted to (statement 1) - $18,244,90791 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $2, 235, 823 97 
 Military establishment, including fortifica- 
 tions, ordnance, Indian department, revo- 
 lutionary and military pensions, and arm- 
 ing the militia - -, 4,684,66681 
 Naval service, including the gradual im- 
 provement of the navy - - 3,201,14068 
 Public debt- 
 Principal - $5, 002, 031 52 
 Interest - 2,357,556 G7 
 
 7,359,588 19 
 
 Payment of awards to owners of slaves, and 
 other property, under the convention with 
 the British Government, of the 13th No- 
 vember, 1826 - - 763,688 26 
 
 And the expenditures of the fourth quarter are estimated at 7,392,603 72 
 
 Viz. 
 
 Civil, diplomatic, and miscellaneous - $546,000 00 
 Military establishment - - 1,100,00000 
 
 Naval service -' - 900,00000 
 
 Public debt 
 
 Principal - $4,059,464 67 
 Interest- - 744,514 04 
 
 4,803,978 71 
 
 Balance of awards to owners of slaves and 
 other property - - 42,625 01 
 
 Making the total estimated expenditure of the year 1828 " * ~1 - 25,637,511 63 
 
 And leaving in the Treasury, on the 1st January, 1829, an estimated bal- 
 ance of - - - - - S5, 125, 638 1 
 
 TREASURY DEPARTMENT, . 
 
 Register's Office, December 4, 1828. 
 
 JOSEPH NOURSE, Register.
 
 474 REPORTS OF THE [1828. 
 
 No. 4. 
 
 ESTIMATED AMOUNT of Treasury notes outstanding on the 1st 
 
 October, 1828. 
 
 Total amount issued, as exhibited in statement No. 2, which accompanied 
 
 the Secretary's report of the 8th December, 1827 ' - $36,680,794 
 
 Cancelled and reported on by the First Auditor - 36.670.419 
 
 Outstanding .- $10,375 
 
 Consisting of small Treasury notes - $2.135 
 
 notes bearing interest - 8,240 
 
 .$10,375 
 
 TREASURY DEPARTMENT, 
 
 Registers Office, December 4, 1828. 
 
 JOSEPH NOURSE, Register. 
 
 No. 5. 
 
 STATEMENT of the stock issued under the act of Congress entitled 
 " An act supplementary to the act for the indemnification of certain 
 claimants of public lands in the Mississippi Territory" passed on 
 the 3d March, 1815. 
 
 Amount of claims awarded, per statement No. 3 of the last 
 report - $4,282,151 12 
 
 Whereof there was paid in for lands, per statement - 2,447,539 39 
 
 Payments from the Treasury, to the 30th Sep- 
 tember, 1827, per said statement , - $1,827,958 04 
 
 Paid from 1st October, 1827, to 1st Octo- 
 ber, 1828 -. - - J,800 00 
 
 , 1,829.758 04 
 
 Balance outstanding 1st October, 1828, consisting of 
 Certificates outstanding - $4,809 09 
 
 Awards not applied for - - .- 44 60 
 
 , : 4,853 69 
 
 $4,282,151 12 
 
 TREASURY DEPARTMENT, 
 
 Register's Office. December 4, 1828. 
 
 JOSEPH NOURSE, Register.
 
 I 825.] 
 
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 476 
 
 REPORTS OF THE 
 
 [1825. 
 
 B. 
 
 A STATEMENT exhibiting the value and quantities, respectively, of 
 merchandise on which duties actually accrued during the year 1825 ; 
 (consisting of the difference between articles paying duty, imported, 
 and those entitled to drawback, re-exported ;) and, also, of the nett reve- 
 nue which accrued that year from duties on merchandise, tonnage, 
 passports, and clearances. 
 
 MERCHANDISE PAYING DUTIES AD VALOREM. 
 
 $7,285 at 12 per cent. -'-., 
 1,509,003 at!2i do. ... 
 2,982,362 at 15 do. 
 8,019,757 at 20 do. 
 30,804,852 at 25 do. - 
 5,865,022 at 30 do. 
 5,155,710 at 33J do. 
 15,033 at 35 do. 
 120,439 at 40 do. 
 500,349 at 50 do. 
 
 $874 20 
 196,125 36 
 447,354 30 
 1,723,951 40 
 7,701,213 00 
 -1,759,506 60 
 1,718,570 00 
 5,261 55 
 50,575 60 
 280,174 50 
 
 
 $55,705,812 
 22,216 exported, at 7* per cent. 
 
 13,883,606 51 
 1,666 20 
 
 
 55,683,596 
 
 13,881,940 31 
 
 $13,881,94031 
 
 DUTIES ON SPECIFIC ARTICLES. 
 
 1. Wines, 2,688,640 gallons, average 25.37 cents - 
 J. Spirits, 4,114,046 do. do. 43.82 do. - 
 Molasses. 12,430,622 do. do. 5.00 do. - 
 3. Teas, ' 6,557,629 pounds, do. 33.53 do. - 
 Coffee, 22,357,721 do. do. 5.00 do. - 
 4. Sugar, 47,504,033 do. do. 3. 06 do. - 
 5. Salt, 3,537,378 bushels do. 20.00 do. ,- 
 
 6. All other articles 
 
 . \ '.. 
 
 682,111 15 
 1.802,766 52 
 621,531 10 
 2,198,787 46 
 .1,117,886 05 
 1,457,769 52 
 707,475 60 
 2,386,698 20 
 
 \ ; ' >- *' 
 -. 
 
 ^fi~~ ' 'y 
 i ~, 
 
 10 975 025 60 
 
 
 
 
 Add duties which accrued on merchandise, the particu- 
 lars of which were not rendered by the collectors, after 
 deducting therefrom duties refunded and difference in 
 calculation 
 
 '. ^ .~ / , 
 
 24,856,965 91 
 26,037 60 
 
 Add 2J per cent, retained on drawback - 
 10 per cent, extra duty on foreign vessels - 
 discriminating duty on French vessels - 
 interest on custom-house bonds . ' _*. 
 storage received v - . - 
 
 175,923 21 
 19,916 91 
 2,558 19 
 22,664 49 
 
 ' 2,658 78 
 
 24,883,003 60 
 223 721 58 
 
 . ., " ' 
 
 
 
 .; . :.i' : '*v 
 
 Duties on merchandise "- 
 Add duties on tonnage . < -' .- 
 light money - ~J 
 
 120^647 73 
 18,200 10 
 
 25,106,725 18 
 138 847 83 
 
 Add passports and clearances 
 
 ,Vf. '&-..;' < 
 
 12,638 00 
 
 . j/ .. 
 
 fy. . ' 
 
 Deduct drawback on domestic spirits .--* 
 drawback on domestic refined sugar 
 
 ' ' -' *> 
 
 1,959 32 
 1,612 68 
 
 25,258,211 01 
 3 565 00 
 
 ' - '( 
 
 
 
 Gross revenue ' - - - 
 Deduct expenses on collection 
 
 i/:cf 
 
 25,254,646 01 
 843,903 16 
 
 . . , >< 
 Netl revenue - 
 
 - 
 
 24,410,742 85
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes. 
 
 477 
 
 1. Wines- 
 Madeira 
 Burgundy and Champagne, 
 Sherry and St. Lucar 
 Lisbon, Oporto, &c. 
 Teneriffe, Faval, &c. ,-. -,. 
 Claret, &c., bottled 
 All other - 
 
 161 ,396 gallons, at JOO cents 
 13,332 do. at 100 do. 
 8,264 do. at 60 do. - : - 
 245,662 do. at 50 do. - 
 126,333 do. at 40 do. .-., 
 60,084 do. at 30 do. 
 2,073,569 do. at 15 do. 
 
 $161,396 00 
 13,332 00 
 4,95840 
 122,831 00 
 50,533 20 
 18,825 20 
 311,035 35 
 
 2,688,640 do. 
 
 682,111 15 
 
 2. Spirits 
 From grain, 1st proof- 
 ad do. - 
 3d dp. - 
 4th do. - 
 5th do. - 
 Other materials, 2d do. ~ 
 3d do. - 
 4th do. - 
 5th do. - 
 Above 5th do. - 
 
 1,001,544 do. at 42 do. 
 52,657 do. at 45 do. " - 
 131,155 do. at 48 do. " - 
 7,715 do. at 52 do. " *'. 
 3,388 do. at 60 do. - 
 674,085 do. at 38 do. 
 786,131 do. at 42 do. 
 1,418,948 do. at 48 do. 
 37,548 do. at 57 do. 
 875 do. at 70 do. ~ t - . "P 
 
 420,648 48 
 23,681 82 
 62,954 40 
 4,011 80 
 2,032 80 
 256,152 30 
 330,175 02 
 681,095 04 
 21,402 36 
 610 50 
 
 V i'i 
 
 
 
 4,414,046 do. 
 
 1,802,766 52 
 
 3. Teas 
 Bohea - , ' ' 
 Souchong - 
 Hyson skin, &c. 
 Hyson and young hyson - 
 Imperial 
 Extra duty on teas imported from 
 other places than China 
 
 91 , 755 pound?, a 1 . 12 do. " - ,, .' . -> 
 1,032,516 do. at 25 do. '- " : - 
 2,197,041 do. at 28 do. - ^ 
 3,039,148 do. at 40 do. 
 197,169 do. at 50 do. 
 
 11,010 60 
 258,129 00 
 615,171 48 
 1,215,659 20 
 98,584 50 
 
 232 C8 
 
 6,557,629 do. 
 
 2,198,787 46 
 
 1,327,175 40 
 130,594 12 
 
 4. Sugar- 
 Brown 
 White, clayed, &c. 
 
 ;"-*' H ">S1* 
 
 44,239,180 do. at 3 do. -- 
 3,264,853 do, at * 4 do. * j 
 
 47,504,033 do. 
 
 1,457,769 52 
 
 5. Salt- 
 Imported, bushels, 
 Exported, do. - 
 Bounties and allowances redu- 
 ced into bushels, at 20 cents - 
 
 1 < - 4, 639 ,160 at 20 cents - -. 
 55,354 
 
 1,046,428 
 101 782 at 90 do 
 
 927,832 00 
 220,356 40 
 
 ' 
 
 
 3, 537 ,378 bushels 
 
 707,475 60
 
 478 REPORTS OF THE 
 
 Explanatory Statements and Notes^- Continued. 
 
 [1825. 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 
 
 
 Cents. 
 
 
 Carpeting, Brussels, Wilton, &c. 
 Venetian and ingrain 
 
 - yards 
 do. 
 
 79,188 
 519,392 
 
 50 
 25 
 
 $29,594 00 
 129,848 00 
 
 all other, &c. - - 
 
 - do. 
 
 5,124 
 
 20 
 
 1,024 80 
 
 Cotton bagging ... 
 
 do. 
 
 4,072,910 
 
 3 1 
 
 152,734 13 
 
 Vinegar - 
 
 - gallons 
 
 20,082 
 
 8* 
 
 1,606 56 
 
 Beer, ale, and porter, in bottles 
 
 do. 
 
 57,615 
 
 20 
 
 11,523 00 
 
 in casks 
 
 do. 
 
 7,051 
 
 15 
 
 1,057 65 
 
 Oil, spermaceti 
 
 do. 
 
 5 
 
 25 
 
 1 25 
 
 whale, and other fish 
 
 do. 
 
 351 
 
 15 
 
 52 65 
 
 olive, in casks - 
 
 do. 
 
 72,021 
 
 25 
 
 18,005 25 
 
 castor 
 
 do. 
 
 1,017 
 
 40 
 
 406 80 
 
 linseed 
 
 do. 
 
 67,125 
 
 25 
 
 16,781 25 
 
 hempseed 
 
 do. 
 
 25,994 
 
 25 
 
 6,498 50 
 
 rapeseed - - I - 
 
 do. 
 
 19 
 
 25 
 
 4 75 
 
 Cocoa - 
 
 - pounds 
 
 146,463 
 
 2 
 
 2,929 26 
 
 Chocolate 
 
 do. 
 
 1,967 
 
 4 
 
 78 68 
 
 Sugar, candy - 
 
 do. 
 
 718 
 
 12 
 
 86 16 
 
 loaf 
 
 do. 
 
 477 
 
 12 
 
 57 24 
 
 other, refined 
 
 - do. 
 
 140 
 
 10 
 
 14 00 
 
 Fruits almonds - 
 
 do. 
 
 943,441 
 
 3 
 
 28,303 23 
 
 currants 
 
 do. 
 
 95,135 
 
 3 
 
 2,854 05 
 
 prunes and plums - > ' 
 
 do. 
 
 138,801 
 
 4 
 
 5,552 04 
 
 fio-q 
 -Ugo 
 
 do. 
 
 784,994 
 
 3 
 
 23,549 82 
 
 raisins, jar, and Muscatel 
 
 - 'do. 
 
 1,766,797 
 
 4 
 
 70,671 88 
 
 other 
 
 do. 
 
 1,619,094 
 
 3 
 
 48,602 82 
 
 Candles, tallow 
 
 do. 
 
 38,006 
 
 5 
 
 1,900 30 
 
 wax 
 
 do. 
 
 2,081 
 
 6 
 
 124 86 
 
 Cheese - 
 
 - do. 
 
 33,571 
 
 9 
 
 3,021 39 
 
 Soap - 
 
 do. 
 
 220,909 
 
 4 
 
 8,836 36 
 
 Tallow - - - 
 
 do. 
 
 134,076 
 
 1 
 
 1,340 76 
 
 Lard - 
 
 do. 
 
 8 
 
 3 
 
 24 
 
 Beef and pork ... 
 
 do. 
 
 188,711 
 
 2 
 
 3,774 22 
 
 Hams and other bacon 
 
 - do. 
 
 17,701 
 
 3 
 
 531 03 
 
 Butter 
 
 - do. 
 
 1,832 
 
 5 
 
 91 60 
 
 Vitriol, blue or Roman 
 
 do. 
 
 9,179 
 
 4 
 
 367 16 
 
 oil of ' - v - .' . - ; 
 
 ''' - do. 
 
 30,816 
 
 3 
 
 924 48 
 
 Camphor, crude - - - 
 
 do. 
 
 57,703 
 
 8 
 
 4,616 24 
 
 refined - -* 
 
 do. 
 
 226 
 
 12 
 
 27 12 
 
 Salts, Epsom - ^ - 
 
 do. 
 
 108,191 
 
 4 
 
 4,327 64 
 
 Glauber 
 
 do. 
 
 286 
 
 2 
 
 5 72 
 
 Spices Cayenne pepper 
 
 do. 
 
 189 
 
 15 
 
 28 35 
 
 ginger 
 
 - 'do. 
 
 926 
 
 2 
 
 18 52 
 
 mace 
 
 - do. 
 
 17,479 
 
 100 
 
 17,479 00 
 
 nutmegs - '* - 
 
 do. 
 
 90,107 
 
 60 
 
 50,064 20 
 
 cinnamon - - - 
 
 do. 
 
 20,470 
 
 25 
 
 5,117 50 
 
 cloves - - - v , 
 
 do. 
 
 27,219 
 
 25 
 
 6,804 75 
 
 pepper, black 
 
 do. 
 
 1,465,762 
 
 8 
 
 117,260 97 
 
 pimento - 
 
 do. 
 
 235,044 
 
 6 
 
 14,102 64 
 
 cassia ... 
 
 do. 
 
 105,647 
 
 6 
 
 6,338 82 
 
 Tobacco, manufactured, &c. - 
 
 do. 
 
 397 
 
 10 
 
 39 70 
 
 laiigo - 
 
 - do. 
 
 414,756 
 
 15 
 
 62,213 40 
 
 Gunpowder - ' 
 
 - do. 
 
 43,905 
 
 8 
 
 3,512 40 
 
 Bristles .... 
 
 do. 
 
 172,688 
 
 3 
 
 5,180 64 
 
 Glue 
 
 - do. 
 
 50,363 
 
 5 
 
 2,518 15 
 
 Paints ochie, dry - - - . 
 
 do. 
 
 403,003 
 
 1 
 
 4,030 03 
 
 in oil 
 
 * d>. 
 
 4,323 
 
 H 
 
 64 84 
 
 white and red lead - 
 
 do. 
 
 1,768,164 
 
 4 
 
 70,726 56 
 
 whiting 
 
 '- do. 
 
 240,960 
 
 1 
 
 2,469 60 
 
 Lead, pig, bar, and sheet 
 
 - do. 
 
 1,934,340 
 
 2 
 
 78,686 81 
 
 shot - , .**'' ,' 
 
 - do 
 
 60,206 
 
 3i 
 
 2,107 21
 
 SECRETARY OF THE TREASURY. 
 
 Explanatory Statements and Notes Continued. 
 
 479 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 Cables, tarred .... 
 
 pounds 
 
 114,033 
 
 Cents. 
 4 
 
 $4,561 32 
 
 Cordage, tarred -,*. j 
 
 do. 
 
 235,212 
 
 4 
 
 9,408 48 
 
 untarred ^-V - '! 
 
 do. 
 
 176,057 
 
 5 
 
 8,802 85 
 
 Twine, untarred, yarn, &c. 
 
 do. 
 
 313,748 
 
 5 
 
 15,687 40 
 
 Corks - ** 
 
 do. 
 
 109,158 
 
 12 
 
 13,098 96 
 
 Copper, rods and bolts ... 
 
 do. 
 
 111,531 
 
 4 
 
 4,461 24 
 
 nails and spikes 
 
 do. 
 
 2,573 
 
 4 
 
 102 92 
 
 Fire-arms, muskets , -r ] ^- 
 
 No. 
 
 13,069 
 
 150 
 
 19,603 50 
 
 rifles - - 
 
 do. 
 
 12 
 
 250 
 
 30 00 
 
 Iron and steel wire, not above No. 18 
 
 pounds 
 
 580,270 
 
 5 
 
 29,013 50 
 
 above No. 18 - 
 
 do. 
 
 205,699 
 
 9 
 
 18,512 91 
 
 tacks, brads, and sprigs, not above 16 oz. 
 
 M. 
 
 32,532 
 
 5 
 
 1,626 60 
 
 above 16 oz. 
 
 pounds 
 
 6,602 
 
 5 
 
 330 10 
 
 nails - - _ 
 
 do. 
 
 378,103 
 
 5 
 
 18,905 15 
 
 spikes - L 
 
 do. 
 
 27,815 
 
 4 
 
 1,112 60 
 
 chain cables, &c. 
 
 do. 
 
 416,267 
 
 3 
 
 12,488 01 
 
 millcranks - 
 
 do. 
 
 186 
 
 4 
 
 7 44 
 
 millsaws - -"^ 
 
 No. 
 
 1,496 
 
 100 
 
 1,496 00 
 
 anchors -& 
 
 pounds 
 
 50,836 
 
 2 
 
 1,016 72 
 
 anvils - 
 
 do. 
 
 587,663 
 
 2 
 
 11,753 26 
 
 hammers and sledges ... 
 
 do. 
 
 66,202 
 
 2i 
 
 1,656 55 
 
 castings, vessels of . ' .- 
 
 do. 
 
 770,637 
 
 li 
 
 11,559 55 
 
 other 
 
 do. 
 
 436,362 
 
 1 
 
 4,363 62 
 
 round and brazier's rods 
 
 do. 
 
 58,127 
 
 3 
 
 1,743 81 
 
 nail and spike rods 
 
 do. 
 
 14,078 
 
 3 
 
 422 34 
 
 sheet and hoop &*",J ' 
 
 do. 
 
 2,081,367 
 
 3 
 
 62,441 01 
 
 slit and rolled 
 
 do. 
 
 J , 70 
 
 3 
 
 2 10 
 
 pig . 
 
 cwt. 
 
 17,273 
 
 50 
 
 8,636 25 
 
 bar, rolled - 
 
 do. 
 
 79,345 
 
 150 
 
 119,017 50 
 
 hammered 
 
 do. 
 
 484,786 
 
 90 
 
 436,307 40 
 
 Steel - ," -I ' *<jj. 
 
 do. 
 
 34,146 
 
 100 
 
 34,146 00 
 
 Hemp -T ; - .: +.* 
 
 do. 
 
 91,104 
 
 175 
 
 159,432 00 
 
 Alum fc > '.3 
 
 do. 
 
 3 
 
 250 
 
 7 50 
 
 Copperas 3.1"- ***** '-i*? 
 
 do. 
 
 3,712 
 
 200 
 
 7,444 00 
 
 Wheat flour - *'*', 
 
 do. 
 
 88 
 
 50 
 
 44 00 
 
 Coal " ' 
 
 bushels 
 
 816,414 
 
 6 
 
 48,984 84 
 
 Wheat . .*: 
 
 do. 
 
 3,448 
 
 25 
 
 862 00 
 
 Oats -. .*-. 
 
 do. 
 
 958 
 
 10 
 
 95 80 
 
 Potatoes . ,-'_ .-.?";' .*. 
 
 do. 
 
 36,911 
 
 10 
 
 3,691 10 
 
 Paper, folio and 4 to post 
 . foolscap - ' >' . ' . - 
 
 pounds 
 do. 
 
 12,753 
 540,332 
 
 20 
 17 
 
 2,550 6J 
 91,856 44 
 
 printing - \-; 
 
 do. 
 
 2,660 
 
 10 
 
 266 00 
 
 sheathing - '...."_ 
 
 do. 
 
 91,676 
 
 3 
 
 2,750 28 
 
 all other - '^' 
 
 do. 
 
 27.5S9 
 
 15 
 
 4,135 35 
 
 Books, printed previous to 1775 
 printed in other languages, &c. 
 Latin and Greek, bound 
 in boards 
 
 do. 
 
 do. 
 do. 
 do. 
 
 1,237 
 111,683 
 
 5,882 
 7,003 
 
 4 
 4 
 15 
 13 
 
 49 48 
 4,467 32 
 882 30 
 910 39 
 
 all other, bound ... 
 in boards - 
 
 do. 
 do. 
 
 13,013 
 
 82,077 
 
 30 
 26 
 
 5,703 90 
 21 496 02 
 
 Glass, cut. and not specified - 
 all other, &c. 
 apothecaries' vials, not above 4 oz. 
 not above 8 02. 
 
 do. 
 do. 
 
 gross 
 do. 
 
 33,2-25 
 982,897 
 3,258 
 367 
 
 3 
 2 
 100 
 125 
 
 1,146 75 
 19,257 94 
 3,258 00 
 458 75 
 
 bottles, not above 1 quart 
 2 quarts 
 
 do. 
 do. 
 
 13,697 
 22 
 
 200 
 250 
 
 27,394 00 
 55 00 
 
 4 do. 
 
 do. 
 
 4 
 
 300 
 
 1200 
 
 window, not above 8 by 10 inches 
 10 by 12 do. 
 
 100 sq.ft. 
 do. 
 
 686 
 730 
 
 300 
 350 
 
 2,058 00 
 2,55500
 
 480 REPORTS OF THE 
 
 Explanatory Statements and Notes. Continued. 
 
 [1825. 
 
 6. All other articles. 
 
 Quantity. 
 
 Rate 
 of 
 duty. 
 
 Duties. 
 
 Glass, window, above 10 by 12 inches - 100 sq. feet 
 
 
 3,719 
 
 Cents. 
 400 
 
 $14,876 00 
 
 uncut, in plates ' - do. 
 
 
 77 
 
 400 
 
 308 00 
 
 demijohns - > No. 
 
 
 32,301 
 
 25 
 
 8,075 26 
 
 Fish, dried or smoked > quintals 
 
 
 1,556 
 
 100 
 
 1,556 00 
 
 - salmon, pickled barrels 
 
 
 1,540 
 
 200 
 
 3,080 00 
 
 mackerel, pickled - do. 
 
 
 257 
 
 150 
 
 385 50 
 
 all other, pickled do. 
 
 
 648 
 
 100 
 
 648 00 
 
 Shoes and slippers, silk - pairs 
 
 
 1,245 
 
 30 
 
 373 50 
 
 prunelle do. 
 
 
 1,747 
 
 25 
 
 436 75 
 
 leather, men's, &c. - do. 
 
 
 1,481 
 
 25 
 
 370 25 
 
 children's - - do. 
 
 
 1,105 
 
 15 
 
 165 75 
 
 Boots and bootees - do. 
 
 
 218 
 
 150 
 
 327 00 
 
 Segars - M. 
 
 
 21,377 
 
 250 
 
 53,442 50 
 
 Playing cards packs 
 
 
 8,894 
 
 30 
 
 2,668 20 
 
 
 
 
 
 2, 895,343 53 
 
 Deduct excess of exportation over importation 
 Saltpetre, refined - ':'- 1,495 pounds, at Scents 
 
 - $44 85 
 
 
 Snuff 97 pounds, at 12 cents 
 
 11 64 
 
 
 Cotton - 136,124 pounds, at Scents 
 
 - 4,083 72 
 
 , '*.'.! '** ' 
 
 
 4,140 21 
 
 
 Exports at former duties : 
 
 
 
 Duck, Russia 100 pieces, at 200 cents 
 
 - 200 00 
 
 
 Ravens 180 pieces, at 125 cents 
 
 - 225 00 
 
 
 Sheeting, brown - 410 pieces, at 160 cents 
 
 - 656 00 
 
 
 Raisins, other than jar, &c. - '3,000 pounds, at 2 cents 
 
 - 60 00 
 
 
 Candles, tallow ''""'}', 2,326 pounds, at Scents 
 
 ' - 69 78 
 
 <f! .lirO '- 
 
 Soap - - -'.'" 4,256 pounds, at Scents 
 
 - 127 68 
 
 
 White and red lead - ,.">>... 765 ppunds, at Scents 
 
 - - 22 95 
 
 
 Cordage, tarred - - --10,378. pounds, at 3 cents 
 
 - , 311 34 
 
 
 Iron, nails - -. 6,903 pounds, at 4 cents 
 
 - 276 12 
 
 
 ' sheet and hoop 662 cwt., at 250 cents 
 
 - 1,655 00 
 
 
 hammered - ; .Y_ 1,155 cwt., at 75 cents 
 
 - 866 25 
 
 
 Glass, window, not above ,8 
 
 
 
 by 10 inches 14 100 sq. f. at 250 cents 
 
 35 00 
 
 ' 8 645 33 
 
 Carried to statement B 
 
 -. ^"7 . r 1 - ^" 
 
 
 2,386,698 20 
 
 p 
 
 ' - . "j <u.'i Vf - ,.;*: 
 
 A STA TEMENT exhibiting the amount of American and foreign 
 tonnage employed in the foreign trade of the United Stales, during 
 the year ending on the 3lst day of December, 1825. 
 
 it 5-i" f -On 
 
 American tonnage in foreign trade fat- - J* 
 
 Foreign tonnage in foreign trade - - 
 
 Total tonnage employed in the foreign trade of the United States 
 
 Proportion of foreign tonnage to the whole amount of tonnage employed in the 
 foreign trade of the United States 
 
 - Tons, 886,511 
 '**A 94,836 
 
 981,347 
 
 10. 6 to 100 
 
 TREASURY DEPARTMENT, 
 
 Register's Office. 
 
 JOSEPH NOURSE, Register.
 
 1820.] SECRETARY OF THE TREASURY. 4S1 
 
 REPORT ON CURRENCY, 
 
 MADE TO THE HOUSE OF REPRESENTATIVES OF THE UNITED STATES, 
 
 24ra FEBRUARY, 1620. 
 
 TREASURY DEPARTMENT, 
 
 February 12, 1820. 
 
 SIR : In obedience to a resolution of the House of Representatives, passed 
 on the 1st of March, 1819, directing " the Secretary of the Treasury to 
 transmit to Congress, at an early period in the next session, a general state- 
 ment of the condition of the Bank of the United States and its offices, simi- 
 lar to the return made to him by the bank; and a statement, exhibiting, as 
 nearly as may be practicable, the amount of capital invested in the different 
 chartered banks in the several States and the District of Columbia, the 
 amount of notes issued by those banks and in circulation, the public and pri- 
 vate deposites in them, the amount of loans and discounts made by them, and 
 remaining unpaid, and the total quantity of specie they possess; and, also, 
 to report such measures as, in his opinion, may be expedient to procure and 
 retain a sufficient quantity of gold and siver coin in the United States, or to 
 supply a circulating medium in plac^of specie, adapted to the exigencies of 
 the country, and within the power of the Government:" I have the honor to 
 submit the subjoined report and statements. 
 
 Statement A exhibits the condition of the Bank of the United States and 
 its offices, on the 30th of September 1819. 
 
 Statement B exhibits the amount of bank capital authorized by law du- 
 ring the years 1814, 1815, 1816, and 1817. As this statement is founded 
 upon the applications made to the Treasury under the acts imposing stamp 
 duties, it is believed to be substantially correct. The average dividends 
 upon which the stamp duty was paid, during those years, amounted to about 
 1\ per cent, upon the nominal amount of capital; it is, however, a matter of 
 general notoriety, that the dividends upon bank capital, actually paid, exceed- 
 ed that rate. If it is assumed that the dividends declared, and upon which the 
 duty was paid, amounted, during those years, to 10 per cent. ; then the capital 
 actually paid, in the year 1817,'instead of being more than $125,000,000, as 
 it is exhibited in statement B, will be found to be about $94,000,000; but, 
 when it is recollected that, after the first payment required by the charters ot 
 the different banks, they have generally gone into operation, it is probable 
 that a considerable proportion of the remaining payments have added nothing 
 to their active capital. This fact being assumed, and a deduction being 
 made of the amount of permanent accommodation enjoyed by the stockhold- 
 ers in their respective banks, the active bank capital of the United States 
 may be fairly estimated at a sum not exceeding $75,000,000. That these 
 deductions ought to be made, in an attempt to ascertain the real amount of 
 bank capital, cannot, it is presumed, be contested, If a stockholder to the 
 VOL. ii, 31
 
 482 REPORTS OF THE [1820. 
 
 amount of $10,000 has a permanent accommodation in the bank of $8,000, 
 he has, in fact, but $2,000 of capital in the bank. This is equally true 
 when a portion of his subscription has been paid with his own note, how- 
 ever well endorsed : so long as the note remains unpaid, it adds nothing to 
 the real capital of the bank. 
 
 Such, it is believed, has been the process by which the capital of most of 
 the banks has been formed, which have been incorporated since the com- 
 mencement of the late war. Since that period, banks have been incorpo- 
 rated; not because there was capital seeking investment ; not because the places 
 where they were established had commerce and manufactures which required 
 their fostering aid; but because men without active capital wanted the 
 means of obtaining loans, which their standing in the community would not 
 command from banks or individuals having real capital and established 
 credit. Hence the multiplicity of local banks, scattered over the face of the 
 country, in particular parts of the Union ; which, by the depreciation of their 
 paper, have levied a tax upon the communities within the pale of their in- 
 fluence, exceeding the public contributions paid by them. 
 
 Statement C presents the condition of the State banks from which returns 
 have been received, or have been transmitted by the Secretaries of State of 
 different States, in conformity with the request of the Treasury Department. 
 By comparing this statement with statement B, it will be perceived That it 
 is very imperiect. Independently of the banks which have been created 
 since the year 1817, it will be discovered that bank capital, to the amount 
 of more than $1S,000.,000, comprehended in statement B, is not embraced in 
 it. As the amount of bank capital exhibited in statement C is $72,000,000. 
 and its specie $9,828,000, the whole specie possessed by the State banks 
 may be estimated at $12,250,000 ; if to this sum be added the specie in the 
 possession of the Bank of the UniteH States and its offices, the specie capi- 
 tal of all the banks in the United States may be estimated at $15,500,000. 
 There are no means of ascertaining, with any degree of precision, the amount 
 of specie in circulation ; it is probable, however, that it does not exceed 
 $4,500,000. Assuming this amount to be nearly correct, the whole metal- 
 lic currency of the Union may be estimated at $20,000,000. Applying 
 the same rule for ascertaining the circulation of the banks, not embraced by 
 statement C, which has beto employed to determine their specie, the whole 
 amount of bank notes in circulation may be estimated at $46,000,000. It 
 is probable, however, that this estimate is too high; as, according to the 
 general practice of banks, all notes issued are considered in circulation, which 
 are not in the possession of the bank by which they were issued. A rea- 
 sonable deduction being made from the notes supposed to be in circulation, 
 but which are, in fact, in the possession of other banks, it is probable that 
 the actual circulation, both of paper and specie, is less, at this time, than 
 $45,000,000. By the same mode of calculation, the whole amount of dis- 
 counts may be estimated at $156,000,000. 
 
 The destruction or loss of the returns made to the Treasury before the 
 year 1816, by the banks in which the public money was deposited, pre- 
 vents any satisfactory comparison being drawn between their condition be- 
 fore and since that period. Comparative statements, however, have been 
 received from sixteen banks, in different parts of the Union, showing their 
 situation on the 30th day of September, in the years 1813, 1815, and 1819. 
 By statement D, it appears that those banks, at the first period, with a cap- 
 ital of $6,903.262, and with $3,059, 149 of specie in their vaults, circulated
 
 1820.] SECRETARY OF THE TREASURY. 483 
 
 $6,845,344 of their notes, and discounted to the amount of $12,990,975 : 
 at the second period, their capital was $8.852.371 ; specie $1,693,918 ; 
 circulation 89,944.757; and discounts $15,727,218 : and at the third period, 
 their capital was $9,711,960 ; specie $1,726,065 ; circulation $4,259,234 ; 
 and discounts $12,959,560. 
 
 By statement B, already referred to, it has been shown that in the year 
 1814 the nominal bank capital in the United States exceeded $80,000,000. 
 It is understood that a large addition was made to it in that year in several 
 of the States. If it be admitted that such addition amounted to $1 5,000,000, 
 the bank capital in operation in the year 1813 maybe stated at $65,000,000. 
 Allowing to this capital the same amount of specie, circulation, and dis- 
 counts, as was comparatively possessed by the banks comprehended in state- 
 ment D, the estimate will be, specie $28,000,000 ; circulation $62,000,000 ; 
 and discounts $117,000,000. In 1815 the bank capital had increased to 
 $88,000,000, whilst upon the same principle of calculation the specie 
 would have been estimated at $16,500,000, circulation at $99,000,000, and 
 discounts at $150,000,000. Applying this principle to the $125,000,000 
 of bank capital in operation during the year 1819, the specie possessed by 
 all the banks would amount to $21.500,000. circulation $53,000,000, and 
 discounts $157,000,000. 
 
 These last results, with the exception of the discounts, very materially 
 differ from those which have been obtained by the mode of calculation pre- 
 viously adopted. They nevertheless furnish materials which may be 
 useful in tiie progress of 'this inquirr. From them the following deductions 
 may be drawn : 
 
 1st. That, in the year 1813, che circulation of bank notes was nearly 
 equal to the bank capital. 
 
 2d. That, in the year 1815, it exceeded the capital by one eighth. 
 3d. That, in the year 119, it was less than the capital nearly in the pro- 
 portion of 1 to 2.5. 
 
 4th. That whilst the amount of bank capital has increased, since 1813, 
 from 65. to 125., the metallic basis, upon which the circulation of notes is 
 founded, has decreased in the proportion of 15.5 to 28 : being equal to 44.6 
 per cent. 
 
 5th. That the circulation of notes in the year 1819, in proportion to the 
 specie in the possession of the banks, exceeded that of 1813 25.9 per cent. 
 
 6th. That in the year 1813 the discounts, in proportion to the bank 
 capital employed, exceeded those of 1815 in the ratio of 18 to 17, and 
 those of 1819 in the ratio of 18 to 12. 
 
 7th. That the increase of bank notes in circulation between the years 
 1813 and 1815 exceeded the increase of discounts during the same period 
 by $4,000,000, whilst the specie in the vaults of the banks was dimin- 
 ished $11,000,000. 
 
 8th. That whilst between the years 1815 and 1819 an addition of 
 $37,000 ; 000 has been made to the nominal bank capital, but $6,000,000 
 have been added to the aggregate amount of discounts. 
 
 It is probable that between the year 1811 and the year 1813 a consid- 
 erable addition was made to the paper circulation of the country. From 
 a return of the former Bank of the United States, made to the Treasury in 
 1808. it appears that with $15,300,000 of specie, it circulated only 
 $4,787.000 of notes. Another return, made in 1810 shows its condition 
 was not materially changed. Shortly after the expiration of its charter
 
 484 REPORTS OF THE [1820. 
 
 bank capital, to a great amount, was incorporated in some of the States. 
 The expenditures produced by the war which was declared in 1812. with- 
 out doubt, contributed, in some degree, to produce the difference b Lween 
 the condition of the sixteen banks already referred to, and that of the former 
 Bank of the United States. If it be admitted, however, that the circula- 
 tion in 1813 was not redundant, it must have become excessive in 1815. 
 An increase of the currency, in the space of two years, in the proportion 
 of 99 to 62, even if it had been wholly metallic, could riot have failed to 
 have produced a very great depreciation ; but when it is considered that 
 not only the increase, but the whole circulation, consisted of paper, not con- 
 vertible into specie, some idea of its depreciation may be formed. The 
 depreciation, however, was not uniform in every part of the Union. The 
 variation in the degree of depreciation depended not only upon the greater 
 issues of banks in one section of the nation than in others, but -also upon 
 the local advantages which they enjoyed as to commerce. It is impossible 
 to determine with precisioh where the most excessive issue of bank notes 
 occurred. Statement E, which exhibits the rate of exchange between the 
 principal cities to the east of this place and London, and the price of bills 
 at New York upon Boston, Philadelphia, and Baltimore; during the years 
 1813, 1814, 1815, and 1816, may be considered presumptive evidence of 
 that fact. So far as it can be relied upon for that purpose. Baltimore was 
 the point of greatest depreciation among the abovementioned places. This 
 is probably true, as it is known that the banks in that place made greater 
 advances to the Government in the loa^s which it obtained during the late 
 war, in proportion to their capital, than \hose of Philadelphia, New York, 
 and Boston. But the greatest depreciation of the currency existed in the 
 interior States, where the issues were not only excessive, but where their 
 relation to the commercial cities greatly aggravated the effects of that excess. 
 This statement may also assist in explaining the cause of the necessity 
 which existed in 1814 for the suspension of speci payments by the banks. 
 From the commencement of the war until that event, a large amount of 
 specie was taken out of the United States, by the sale of English Govern- 
 ment bills at a discount, frequently of from 15 to 20 per cent. Immedi- 
 ately after the suspension, they commanded a .premium in those places 
 where the banks had suspended payment, which gradually rose to 20 per 
 cent. ; whilst at Boston they remained at a discount of about 14 per cent, 
 until February, 1815. 
 
 Whatever may have been the degree of depreciation of the currency in 
 1^15, it continued to augment throughout the first six months of the year 
 1816, if the rate of exchange with London is considered conclusive evidence 
 of that fact. The excessive importations of British merchandise during that 
 period, and in the preceding year, might indeed account for the increase of 
 premium paid upon sterling bills, and was probably one of the principal 
 causes of it. The great, fluctuations which occurred in the latter part of that 
 period furnish some reason, however, for ascribing them, in some degree, 
 to changes in the value of the currency, in which their price was calculated, 
 rather than to the ordinary principles of exchange. It is more probable that 
 the currency in those places where it was not convertible into specie fluctu- 
 ated in value according to the efforts which were made in particular places to 
 prepare for the resumption of specie payments, than that the balance of pay- 
 ments between the two countries should have varied to such an extent as is 
 indicated by the sudden variations which occurred during that period in the
 
 1820.] SECRETARY OF THE TREASURY. 485 
 
 rate of exchange. So far as these fluctuations are ascribable to the currency 
 in which the rate of exchange was determined, a considerable appreciation of 
 that currency took place in the last months of the year 1816. From that 
 period until the present time, the circulation has rapidly diminished, and all 
 the evils incident to a decreasing currency have been felt in every part of 
 the Union, except in some of the eastern States. 
 
 If, as previously stated, the circulation of 1813 be admitted to be the 
 amount required to effect the exchanges of the community with facility and 
 advantage, and that, in the year 1815, that circulation was extended to 
 $99,000,000, which was in some degree augmented in 1816, the extent of 
 the diminution of the currency, in the space of three years, may be perceived. 
 But it is probable that the currency, in 1815, exceeded $99,000,000. The 
 banks, upon whose situation that estimate is founded, were established at 
 a period when the practice of dispensing with the payment of those portions 
 of their capital falling due after they went into operation had not been gen- 
 erally introduced. Some of them did not suspend specie payments during 
 the general suspension. The rest were among the first to resume them, and 
 have continued them to the present time. It cannot be expected that banks, 
 which went into operation during the war, and after the general suspension 
 had occurred, were conducted with an equal degree of prudence and circum- 
 spection. A reasonable allowance being made for banknotes supposed to be 
 in circulation at that period, but which were, in fact, in the possession of 
 other banks, and for the excess of issues beyond the estimate, the circulation 
 may, it is believed, be safely calculated at not less than $110,000,000. The 
 paper circulation in 1813 has been estimated at $62,000,000. At that 
 period, however, gold and silver formed a substantial part of the currency. 
 The condition of the old Bank of the United States in 1810. and of the six- 
 teen banks in 1813, proves that the demand for specie from the vaults of the 
 banks was inconsiderable. It is,. therefore, probable that the whole circu- 
 lation of 1813 amounted to $70,000,000. In 1815 it is estimated to have 
 risen to $110,000,000; and this amount was probably augmented in 1816. 
 At the close of 1819 it has been estimated, upon data behoved to be sub- 
 stantially correct, at $45,000,000. According to these estimates, the cur- 
 rency of the United States has. in the space of three years^ been reduced 
 from $110.000,000- to $45,000,000. This reduction exceeds fifty-nine per 
 cent, of the whole circulation of 1815. The feet that the currency in 1815 
 and 1816 was depreciated, has not sensibly diminished the effect upon the 
 community of this great and sudden reduction. Whatever was the degree, 
 of its depreciation, it was still the measure of value. It determined the price 
 of labor, and of all the property of the community. A change so violent 
 could not fail, under the most favorable auspices in other respects, to pro- 
 duce much distress, to check the ardor of enterprise, and seriously to affect 
 the productive energies of the nation. The reduction was, in fact, com- 
 menced under favorable auspices. During the year 1817, and the greater 
 part of 1818, all the surplus produce of the country commanded, in foreign 
 markets, higher prices than ordinary. The rate of foreign exchange afforded 
 no inducement for the exportation of specie, for the purpose of discharging 
 debts previously contracted. The only drain to which the metallic currency 
 was subject, was the demand for it for the prosecution of trade to the East 
 Indies and to China. In this trade, specie being the principal commodity, 
 and indispensable to its prosecution, the amount exported during those years 
 
 '
 
 MV" ' 
 
 REPORTS OF THE [1820. 
 
 was very great, and seriously affected the amount of circulation, by com- 
 pelling the banks to diminish their discounts. 
 
 Notwithstanding the drain for this commerce during these years was un- 
 usually large, every other circumstance was favorable to the restoration of 
 the currency to a sound state, with the least possible distress to the communi- 
 ty. The capacity of the country to discharge a large portion of the debts 
 contracted with banks, and which had occasioned their excessive issues, was 
 greater than at any former period, and than it probably will be again for a 
 lapse of successive years. The effort to reduce the amount of currency 
 during those years, though successful to a considerable degree, was not pur- 
 sued with sufficient earnestness. In the latter part of 1818, when the price 
 of the principal articles of American production had fallen nearly fifty per 
 cent, in foreign markets ; when the merchant needed the aid of additional 
 loans to sustain him against the losses which he had incurred by the sudden 
 reduction in the price of th e commodities he had exported ; he was called upon 
 to discharge loans previou sly contracted. The agriculturist, who saw his in- 
 come reduced below his in dispensable necessities ; the manufacturer, who was 
 not only struggling against foreign competition, but who saw the sale of his 
 manufactures reduced by t the incapacity of his customers to buy ; in fact, all 
 classes of the community, i inder circumstances so adverse to the command of 
 funds, were subjected to cu rtailments wherever they had obtained discounts. 
 All intelligent writers uj Don currency agree, that where it is decreasing in 
 amount, poverty and miser y must prevail. The correctness of the opinion 
 is too manifest to require ] iroof. The united voice of the nation attests its 
 accuracy. As there is no recorded example in the history of nations of a 
 reduction of the currency so rapid and so extensive, so but few examples 
 have occurred of distress t so general and so severe as that which has been 
 exhibited in the United S t; ites. To the evils of a decreasing currency are 
 -superadded those ofVa d< sficient currency. But, notwithstanding it is 
 ^efiVJent, it is still deprec ia ted. "In several of the States the great mass of 
 'the circtifa*! o ri is not ever i c >stensibly convertible into specie at the will of 
 tf J6 holder. During the gr eater part of the time that has elapsed since the 
 Resumption of specie pay mi ?nts. the convertibility of bank notes into specie 
 has been' rather nominal tha ,n real in the largest portion of the Union. On 
 the part of the banks, n mtu al weakness had produced mutual forbearance. 
 The extensive diffusion of 1: mnk stock among the great body of the .citizens 
 in most of the States, ha d pro duced the same forbearance among individuals. 
 To demand specie of the baa iks, when it was known that they were unable 
 to pay was to destroy their own interests, by destroying the credit of the 
 banks 'in which the productive portion of tjleir property was invested. In 
 favor of forbearance was also-. added the influence of the great mass of bank 
 debtors. Every dollar in spocie drawn out of the banks, especially for ex- 
 portation, induced the necessity of curtailments. To this portion of the 
 community all other evils \vere light, when compared with the imperious 
 demands of banks. Their exertions to prevent the drain of specie in the 
 possession of those who controlled their destiny, equalled the magnitude 
 of the evils which were to be avoided. In most parts of the Union this 
 forced state of things is passing away. The convertibility of bank notes 
 into specie is becoming real wherever it is ostensible. If public Opinion 
 does not correct the evil in those States where this convertibility is not even 
 ostensible, it will be the imperious duty of those who are invested with the 
 power of correction to apply the appropriate remedy.
 
 1820.] SECRETARY OF THE TREASURY. 487 
 
 As the currency is, at least in some parts of the Union, depreciated, ,jt 
 must, in those part?, suffer a farther reduction before it becomes sound. 
 The nation must continue to suffer until this is effected. After the currency 
 shall be reduced to the amount which, when the present quantity of the pre- 
 cious metals is distributed among the various nations of the world, in pro- 
 portion to their respective exchangeable values, shall be assigned to the 
 United States ; when time shall have regulated the price of labor and of 
 commodities, according to that amount ; and when pre-existing engagements 
 shall have been adjusted, the sufferings from a depreciated, decreasing, and 
 deficient currency will be terminated; individual and public prosperity 
 will gradually revive, and the productive energies of the nation resume 
 their accustomed activity. But new changes in the currency, and circum- 
 stances adverse to the perpetuity of the general prosperity, may reasonably 
 be expected to occur. So far as these changes depend upon the currency, 
 their recurrence, to an extent sufficient to disturb the prosperity of the na- 
 tion, would be effectually prevented, if it could be rendered purely metallic. 
 In that event, we should always retain that proportion of the precious me- 
 tals which our exchangeable commodities bear to those of other nations. 
 The currency would seldom be either redundant or deficient, to an extent 
 that would seriously affect the interest of society. But when the currency 
 is metallic, and paper convertible into specie, changes to such an extent, it 
 is believed, will frequently occur. 
 
 The establishment of banks which are restrained from issuing notes of 
 small denominations furnishes great facilities for the transmission of money, 
 and increases the efficiency of the capital subject to their control, to the 
 extent of the credit employed by them. The degree of facility afforded 
 by them for the transportation or transmission of money, depends upon the 
 extent of country within which their notes circulate and preserve a value 
 equivalent to specie. Ordinarily, this extent is determined by the interior 
 trade of the country ; they will circulate through the whole extent of coun- 
 try, the produce of which is carried for sale to the place of their establish- 
 ment. If they are established only in the principal commercial city of the 
 nation, their notes will circulate through the whole extent of its territory, 
 and afford the greatest possible facility for the transmission of money. If 
 they are established in several of the commercial cities, their circulation, 
 will be circumscribed by the sections of country, the inhabitants of which 
 trade to those cities. The facility for transmitting money will be diminish- 
 ed by their establishment. But if banks should be established in all the 
 interior towns, this facility would be impaired to a still greater degree. In 
 that event, their notes would circulate within very narrow limits ; but 
 within those limits, the notes of the banks in the commercial cities would 
 no longer form part of the circulation. Should they, by accident, be car- 
 ried within it, the first individual having remittances to make, and into 
 whose hands they might come, would use them for that purpose. 
 
 The degree of credit which a bank can employ, in proportion to its capi- 
 tal, depends upon a variety of circumstances. If the community reposes 
 great confidence in the prudence and integrity of those who direct its con- 
 cerns ; if the capital employed is small in proportion to the demand i 
 transmission of money ; if there is no other bank whose local situation re- 
 pels its circulation from those sections of country, the produce of which 
 ultimately carried to the place where it is established, the credit whicl 
 will be able to employ will be very great. Where all these facilities are
 
 REPORTS OF THE [1820, 
 
 wanting, the extent of the credit which it will employ will be very incon- 
 siderable. The additional efficiency which, in the latter case, will be im- 
 parted to capital invested in banks, will, it is believed, not countervail the 
 evils which necessarily result from their establishment. 
 
 Among 1 the advantages which have been supposed most strongly to re- 
 commend their establishment, especially in a community whose resources 
 are rapidly expanding, their capacity suddenly to increase the currency to 
 the utmost demand for it has been considered the most important. 
 
 In a country where the currency is purely metallic, no considerable addi- 
 tion can be made to it, without giving, at the time of its acquisition, articles 
 in exchange of equal value. No addition can be made to the currency with- 
 out affecting, to the extent of such addition, the enjoyments of the commu- 
 nity. The amount so added will, to the same extent, diminish the quantity 
 of articles which would otherwise be imported into the country for domestic 
 consumption, or for re-exportation. 
 
 Ordinarily, the currency of one country will not be exported to another, 
 because its value in every country is nearly the same. It will not, there- 
 fore, like other commodities, command a commercial profit upon exporta- 
 tion. It will be taken from one country to another, only when the price 
 of commodities in the former is so high as to produce a loss in the latter 
 equal to the expense of transporting specie. It is this condition, annexed 
 to every acquisition to the currency of a state, when it is purely metallic, of 
 diminishing, to the same extent, the enjoyments of the community, which 
 affords the most efficient protection against its becoming redundant. It is 
 equally efficient in guarding against a deficiency to an extent that can se- 
 riously affect the interest of the community. But this condition is not an- 
 nexed to the increase of the currency by the issue of bank notes, even when 
 convertible into specie. The notes, by which the currency is suddenly aug- 
 mented, do not, in any degree, diminish the enjoyments of the community. 
 No equivalent is, by such issue, transferred to another community, as is in- 
 variably done when an acquisition is made to a metallic currency. When- 
 ever the currency can be augmented, exempt from such transfer, it must be 
 subject to some degree of fluctuation in quantity. Every addition made to 
 the currency by the issue of bank notes changes the relation which previ- 
 ously existed between the amount of the currency and the amount of the 
 commodities which are to be exchanged through its agency. Their issue 
 depends, not upon receiving in exchange articles of equal value, but upon 
 a pledge of the credit of one or more individuals, to the amount of such issue. 
 No evil can result to the community from the advance of the capital of a 
 bank in exchange for the credit of individuals. In that case, no addition is 
 made to the amount of the currency previously in circulation. It is perfect- 
 ly immaterial to society whether this capital be lent by individuals or by 
 corporations. The relation between the currency and the exchangeable 
 commodities of the state is not disturbed. But when their credit is greatly 
 extended, the currency is expanded, and that relation is deranged. An ex- 
 pansion of the currency, through the agency of banks, will generally occur 
 only in periods of prosperity. During such periods, enterprise will be fos- 
 tered, industry stimulated, and the comfort and happiness of the people ad- 
 vanced, without the factitious aid of an expansive currency. But there can 
 be no doubt that a sudden increase of the currency during periods of pros- 
 perity, through the agency of bank issues, gives additional force and activity 
 to the national enterprise. Snch an increase will be followed by a general
 
 1S20.] SECRETARY OF THE TREASURY. 
 
 rise in the value of all articles, especially of those which cannot be ex- 
 ported. The price of lands, houses, and public stock, will be augmented 
 in a greater degree than if no such increase had taken place. 
 
 If these prices could be maintained, if they could even be protected 
 against sudden reduction, they would be cause of gratulation rather than of 
 complaint. But the expansion of the currency by the issue of paper, in a 
 period of prosperity, will inevitably be succeeded by its contraction in periods 
 of adversity. The extent to which the currency may be contracted, through 
 the agency of hanks, depends upon the use which they may have made of 
 their credit. The excess of their discounts beyond their capital actually 
 paid, determines the amount of the credit which they have employed. 
 Thus, in 1813, the capital of the banks in the United States, has been esti- 
 mated at $65,000,000, and their discounts at $117,000,000. The extent to 
 which their credit was then employed was $52,000.000. Their circula- 
 tion, at the same period, has been estimated at $62,000,000. In this esti- 
 mate no allowance was made for notes stated to be in circulation, but which 
 were probably in the possession of other banks. A reasonable deduction. 
 being made on that account, it is probable that the paper circulation did not 
 much exceed 52,000.000. But the liability of the banks for specie was 
 equal to the whole amount of notes represented to be in circulation, besides 
 the individual deposites. To meet an immediate demand, they are estimated 
 to have had $28,000,000 in specie. If the deposites of individuals should 
 be estimated at $18,000,000, their ultimate means of meeting the demand of 
 62,000,000, without sacrificing their capital, would consist of $10,000,000 
 in specie, and $52,000,000 secured by the notes of individuals ; this sum 
 being the excess of their discounts over their capital. Under ordinary cir- 
 cumstances, the basis upon which the credit of this circulation rested might 
 be considered sufficient to sustain it. A debt of $117,000,000 could not, 
 under the most adverse circumstances, be considered inadequate to meet one 
 of $52,000.000. But, in the case of currency, the capacity of ultimate re- 
 demption is not sufficient. The capacity to redeem it as it is presented is 
 indispensable. Whenever the public confidence in this capacity is impaired, 
 an immediate~demand for specie will be created ; and, if it is not promptly 
 met, depreciation will ensue. But, even in circumstances in some degree 
 adverse to the operations of banks, if their discounts consisted principally of 
 notes founded upon real transactions, in which the idea of renewal was ex- 
 cluded,' and if specie formed a considerable proportion of the circulation, 
 the capacity of the banks to meet the demands upon them for specie might 
 have been sufficient to sustain the credit of the currency. If, on the other 
 hand, the debts due to the banks consisted chiefly of fixed or permanent 
 loans, generally denominated accommodation" paper; if specie had been 
 banished from circulation, by the issue of dollar notes, the suspension of 
 payment by the banks could fail to be the- result of any considerable pres- 
 sure upon them for specie. In the former case, as their notes should be 
 withdrawn from circulation, they would gradually be reduced to the demand 
 for them for the transmission of money. If the effort to' withdraw them 
 should be continued beyond that point, specie would be paid into the banks 
 by their debtors, in preference to bank notes ; and the just proportion be- 
 tween the paper circulation, and the specie in their vaults, would be promptly 
 restored. In the latter case, as the debts due to the banks would not, ac- 
 cording to the understanding of the parties, become due at short intervals, 
 the on iy mode. of meeting the increasing demands upon them for specie
 
 
 REPORTS OF THE [1820. 
 
 would be to require of the whole mass of debtors the payment of a fixed pro- 
 portion of the sums due by them. As the circumstances which would re- 
 quire this measure, on the part of the banks, would generally affect the 
 community in the same degree, the capacity of their debtors to meet this de- 
 mand would generally be found to be in an inverse ratio to the demand. 
 The demand itself, being inconsistent with the impression under which the 
 debt was contracted, would be resisted in every case where the interest of 
 the debtor would be subserved by delay. As specie formed but an incon- 
 siderable part of the currency, the reduction of the paper circulation would 
 have to be carried to a greater extent than in the former case. A just propor- 
 tion between the paper circulation, and the specie necessary to support it, 
 could be obtained only by the positive reduction of the former, as it would 
 be impracticable to increase the latter while the demand continued. Under 
 such circumstances, the suspension of payment would be the probable result. 
 
 Such, in fact, were the circumstances under which the suspension in 
 1814 occurred. 
 
 The injudicious multiplication of banks, where capital in that form, to 
 some extent, might have been useful; the establishment of them where they 
 could only be injurious ; the permission to issue dollar notes, by which spe- 
 cie was banished from circulation ; and the demand for specie for exporta- 
 tion, which existed during the years 1813 and 1814, imposed upon the banks 
 in the middle, southern, and western States the necessity of suspending 
 payment, A longer effort to discharge their notes in specie would iiot only 
 have been ineffectual, but would certainly have postponed to a more remote 
 period the resumption of specie payments. The evils which have resulted 
 to the community from that suspension have certainly been great ; but it 
 may well be doubted whether others of equal magnitude would not have 
 been suffered, if that event had not occurred. The extent to which the cur- 
 rency must have been reduced, in prder to have avoided the suspension, 
 could not have failed, at any period, to produce great embarrassment and dis- 
 tress to the community. But in a time of war, when the country was in- 
 vaded, when the public safety required that the energies of the nation should 
 be fully developed, a sudden and extensive reduction of the currency, by any 
 cause whatever, would have been fatal. Under such circumstances, the de- 
 mand for currency would have been too imperious to be resisted. It would, 
 from necessity, have been supplied by the issue of Treasury notes. 
 
 The fact that, in a small portion of the Union, specie payments were con- 
 tinued, cannot be admitted as evidence that it was practicable throughout 
 the nation. In that part of the country, the extensive bank issues, conse- 
 quent upon loans to the Government in the middle States, had not occurred. 
 Foreign trade, which in the other parts of the Union was nearly annihi- 
 lated, still preserved there a languid existence, through the permission or 
 connivance of the enemy. These circumstances could not fail to enable the 
 banks in the eastern States to continue specie payments longer than those 
 in the middle, southern, and western States. In an effort to preserve their 
 credit, they would, inevitably, be the last which would fall. In such a 
 struggle, however, they must have failed, had not the circulation of the paper 
 of their weaker neighbors, and the issues of Treasury notes, come to their 
 aid. But for this adventitious assistance, wholly unconnected with the wis- 
 dom and foresight of their directors, specie payments must have been sus- 
 pended there, or the best interests of the community have been sacrificed. 
 From that period, until the resumption of specie payments in the early part
 
 SECRETARY OF THE TREASURY. 491 
 
 of 1817, Treasury notes, and the notes of the banks which had suspended 
 payment, formed the great mass of the circulation in the eastern part of the 
 Union. Specie, or the notes of banks which continued to pay specie, form- 
 ed no part of the receipts of the Government in Boston, and the districts 
 east of that town, until about the close of the year 1816. 
 
 In all great exigencies, which, in the course of human events, may be ex- 
 pected to arise in every nation, the suspension of payment by banks, where 
 the circulation consists principally of bank notes, is one of the evils which 
 ought to be considered as the inevitable consequence of their establishment. 
 Even in countries where paper does not form the principal part of the circu- 
 lation, such an event, will sometimes happen. In the year 1797, when the 
 restriction was imposed upon the Bank of England, the average of its circu- 
 lation for several successive years was about 10,000,000 sterling, whilst 
 the metallic currency was estimated at 30,000,000. Yet, in that country, 
 whose trade in time of war, through the protection of its fleets, was rather ex- 
 panded than contracted, it was found necessary to authorize the bank to sus- 
 pend payment ; which suspension, after a lapse of twenty-three years, still 
 continues. When the existence of banks depends upon the authority which 
 regulates the currency, it may be practicable to impose salutary checks 
 against excessive issues of paper during suspension ; and, in some degree, to 
 guard against an excessive depreciation of the currency. But, where these 
 institutions are created by an authority having no power to regulate the cur- 
 rency, and especially where they are created by a great variety of authori- 
 ties independent of each other, and practically incapable of acting in con- 
 cert, it is manifest that no such checks or restraints can be imposed. It is 
 impossible to imagine a currency more vicious than that which depends 
 upon the will of nearly four hundred banks, entirely independent of each, 
 other, when released from all restraint against excessive issues. By the term 
 currency, the issue of paper by Government, as a financial resource, is ex- 
 cluded. Even such an issue, in a state where the reign of law is firmly 
 established, and public opinion controls the public councils, would be pre- 
 ferable to a currency similar to that which existed in some parts of the Uni- 
 ted States during the general suspension, and which now exists in some of 
 the States. This truth has been practically .demonstrated by the redemp- 
 tion of the whole of the Treasury notes issued during the war, within the 
 short space of about two years after the peace; whilst a large amount of 
 bank notes } issued during the suspension, are yet unredeemed, and greatly 
 depreciated. 
 
 There can be no doubt that a metallic currency, connected with a paper 
 circulation, convertible into specie, and not exceeding the demand for the 
 facile transmission of money, is the most convenient that can be devised. 
 When the paper circulation exceeds that demand, the metallic currency to 
 the amount of the excess will be exported, and a liability to sudden fluctu- 
 ations to the same extent will be produced. 
 
 If banks were established only in the principal commercial cities of each 
 State; if they were restrained from the issue of notes of small denomina- 
 tions ; if they should retain an absolute control over one-half of their capital, 
 and the whole of the credit which they employ, by discounting to that 
 amount nothing but transaction paper payable at short dates, the credit and 
 stability of the banks would, at least, be unquestionable. Their notes could 
 always be redeemed in specie on demand. The remaining part of their 
 capital might be advanced upon long credits to manufacturers, and even to 
 agriculturists, without the danger of being under the necessity of calling
 
 492 JREPORTS OF THE [1820. 
 
 upon such debtors to contribute to Iheir relief, if emergencies should occur. 
 Such debtors are, in fact, unable to meet sudden exigencies, and ought 
 never to accept of advances from banks, but upon long credits, for which 
 timely provision may be made. The latter class, of all others, is the least 
 qualified to meet the sudden demands which a pressure upon banks compels 
 them to make upon their debtors. The returns of capital invested in agri- 
 culture are too slow and distant to justify engagements with banks, except 
 upon long credits. If the payment of the principal should be demanded at 
 other periods than those at which the husbandman receives the annual re- 
 ward of his toil, the distress which would result from the exaction would 
 greatly outweigh any benefit which was anticipated from the loan. That 
 the establishment of banks, in agricultural districts, has greatly improved 
 the general appearance of the country, is not denied. Comfortable man- 
 sions and spacious barns have been erected; lands have been cleared and 
 reduced to cultivation : farms have been stocked, and rendered more pro- 
 ductive, by the aid of bank credits. But these improvements will eventu- 
 tually be found, in most cases, to effect the ruin of the proprietor. The 
 farm, with its improvements, will frequently prove unequal to the discharge 
 of the debts incurred in its embellishment. Such, in fact, is the actual or 
 apprehended state of, things, wherever banks have been established in the 
 small inland towns and villages. Poverty and distress are impending over 
 the heads of most of those who have attempted to improve their farms by the 
 aid of bank credits. So general is this distress, that the principal attention 
 of the State Legislatures, where the evil exists, is. at this moment, directed 
 to the adoption of measures calculated to rescue their fellow-citizens from, 
 the inevitable effects of their own indiscretion. If, in affording a shield to 
 the debtor against the legal demand of his creditor, the axe shall be applied 
 to the root of the evil, by the annihilation of banks where they ought never 
 to have existed; the interference, however doubtful in point of policy or 
 principle, may eventually be prod active r of more good than evil. 
 
 The general system of credit, which has. been introduced through the 
 agency of banks, brought home to every man's, door, has produced a facti- 
 tious state of things, extremely adverse to the sober, frugal,, and industrious 
 habits which ought to be cherished in a republic. In the place of these 
 virtues, extravagance, idleness, and the spirit of gambling adventure have 
 been engendered and fostered by our institutions. So far as these evils 
 have been produced by the establishment of banks where they are not re- 
 quired, by the omission to impose upon them wholesome restraints, and 
 by the ignorance or misconduct of those who have been intrusted with 
 their direction, they are believed to be beyond the control of the Federal 
 Government. Since the resumption of specie payments, measures have 
 been adopted in some of the States to enforce their continuance; in others, 
 the evil has been left to the correction of public opinion. There is, how- 
 ever, some reason to apprehend that the authority of law may be interposed 
 in support of the circulation of notes not convertible into specie. 
 
 But the Federal Government has, by its measures, in some degree, contrib- 
 uted to the spirit of speculation and of adventurous enterprise, which, at 
 this moment, so strongly characterize the citizens of this. republic. The 
 system of credit, which, in the infancy of our commerce, was. indispensable 
 to its prosperity, if not to its existence, has been extended at a period when 
 the dictates of sound discretion seemed to require that it should be shorten- 
 ed. The credit given upon the sale of the national domain has diffused
 
 1820.] SECRETARY OF THE TREASURY. 493 
 
 this spirit of speculation and of inordinate enterprise among the great 
 mass of our citizens. The public lands are purchased, and splendid towns 
 erected upon them, with bank credits. Every thing is artificial. The rich 
 inhabitant of the commercial cities, and the tenant of the forests, differ only 
 in the object of their pursuit. Whether commerce, splendid mansions, or 
 public lands, be the object of desire, the means by which the gratification 
 is to be secured are bank credits. 
 
 This state of things is no less unfriendly to the duration of our republican 
 institutions than it is adverse to the development of our national energies 
 when great emergencies shall arise ; for, upon such occasions, the attention 
 of the citizen will be- directed to the preservation of his property from the 
 grasp of his creditors, instead of being devoted to the defence of his country. 
 Instead of bein^ able to pay with promptitude the contributions necessary 
 to the preservation of the state, he will be induced to claim the interference 
 of the Government to protect him against the effects of his folly and extrav- 
 agance. 
 
 This ought not to be the condition of a republic, when menaced by 
 foreign force or domestic commotion. Such, it is apprehended, will be the 
 condition of the United States, if the course which has been pursued since 
 the commencement of the late war is not abandoned. Since that period, it 
 is believed the number of banks in the United States has been more than 
 doubled. They have been established in the little inland towns and villages, 
 and have brought distress and ruin upon the inhabitants. When the cause 
 and the extent of the evil are known, no doubt is entertained that the appro- 
 priate remedies will be applied by those who, in our complex form of 
 government, are invested with the necessary authority. 
 
 But the resolution requires the Secretary of the Treasury " to report such 
 measures as, in his opinion, may be expedient to procure, and retain, a 
 sufficient quantity of gold and silver coin in the United States/' 
 
 It has already been suggested, that, if the currency was purely metallic, 
 or connected with paper convertible into specie, to the extent only of the 
 demand for the transmission of money, the United States would retain that 
 proportion of the precious metals which the value of their exchangeable 
 commodities bore to those of other states. But if paper can be made to 
 circulate independent of its employment in the transmission of funds, gold 
 and silver, to the same extent, will be exported. If paper will be received 
 and employed generally as the medium of exchange, and especially if it 
 is issued in bills of small denominations, the amount of specie which will 
 be exported will be great in proportion to the paper in circulation. If this 
 position be correct, the power of Congress will be insufficient to retain any 
 considerable portion of gold and silver in the United States. Bank notes, 
 from one dollar to those of large denominations, have circulated, and it is 
 presumed will continue to circulate, independent of its authority. As long 
 as bank notes will be received as a substitute for specie, the quantity of 
 specie necessary for currency will be small, and may be easily retained 
 without the aid of Government. But the demand for specie, where the 
 circulation is principally paper, is extremely fluctuating. When there is 
 but little or no demand for it, the temptation to increase their discounts, by 
 the issue of more paper, is too strong to be resisted by bonks. When a 
 demand for spacie arises, the currency has to be suddenly diminished by the 
 contraction of their discounts. Fluctuation in the amount of the currency, 
 produced by this means, is the principal mischief to be remedied. These 
 fluctuations will frequently occur in every state where the currency is prin-
 
 494 REPORTS OF THE [1820. 
 
 cipally paper convertible into coin. In the United States, where the specie 
 exported as a primary article of commerce to the East Indies and to China 
 bears so large a proportion to the metallic currency of the country, they 
 must not only be more frequent than in states where no such commerce 
 exists, but more extensive in their effects. The demand created for Spanish 
 milled dollars, by the exportation of specie, in the prosecution of this trade, 
 has, without doubt, caused their importation to an extent which otherwise 
 would not have occurred. As this demand is, in some degree, contingent, 
 the supply will also be contingent. When it exceeds the demand, the banks 
 will be tempted to new issues of paper. When it is deficient, the deficien- 
 cy will be drawn from the banks, and will cause a sudden diminution of 
 the currency. If this diminution could be limited to the amount of the 
 deficiency thus drawn from the banks, the evil would be no greater than if 
 the currency were metallic. But this is not the fact. When the paper cir- 
 culation is returned upon the banks for specie, prudence requires that an 
 effort should be made to preserve the same proportion between the specie 
 in their vaults and their notes in circulation, as existed at the moment the 
 pressure commenced. If the paper in circulation should be three times the 
 amount of specie in the possession of the banks, a demand upon them for 
 $1,000,000 of specie would produce a diminution of $3,000,000 in the cur- 
 rency, if the specie should be exported, and of $2,000,000 if it remained 
 in the country. It is even probable that the comparative diminution would 
 exceed this ratio. As the demand increased, apprehensions would be ex- 
 cited for the credit of the banks ; the exertions produced by that apprehen- 
 sion would correspond with the magnitude of the evil to be avoided, rather 
 than with the positive pressure. This, it is presumed, would be the effect 
 of such an emergency, where banks had not become familiarized with 
 bankruptcy, and were not countenanced by society in a course of conduct 
 which, in private life, would be considered dishonest. 
 
 If, by any constitutional exercise of the power of Congress, banks can be 
 restrained, first, from issuing notes of small denominations ; and secondly, 
 from excessive issues, when their notes are not returned upon them for 
 specie; fluctuations in the currency, to an extent to derange the interests of 
 society, may be prevented. " But if the imposition of these restraints are 
 not within the constitutional powers of Congress, the evils which have 
 been suffered for the want of those restraints must continue, until the pre- 
 sent system of banking shall be abandoned. 
 
 In an inquiry into the state of the currency, the consideration of the 
 coinage is necessarily involved. The principles upon which the coinage 
 of the United States has been established are substantially correct. The 
 standard fineness of the gold coinage corresponds with the coinage of Eng- 
 land and Portugal. The standard of the silver coinage differs" but little 
 from that of Spain. The American dollar is intrinsically worth about one 
 per cent, less than the Spanish milled dollar. This difference, if the Span- 
 ish dollar had not been made a legal tender, might have secured to the na- 
 tion a more permanent use of its silver coinage. American dollars would 
 not be exported, as long as Spanish dollars could be obtained for that pur- 
 pose, at a reasonable premium. If this latter coin was not a legal tender, 
 the banks might afford to import it, and might sell, at a fair premium, the 
 amount which might be required of them for the China and East India trade. 
 The relative value of gold and silver has been differently established in 
 different nations. It has been different in the same nation at different pe- 
 riods. In England, an ounce of gold is equal in value to about 15.2 ounces
 
 1520.] SECRETARY OF THE TREASURY. 495 
 
 of silver ; in France, it is equal to 15.5 ; and in Spain and Portugal, to 
 16 ounces. In the United States, an ounce of gold is equal to 15 ounces of 
 silver. But the relative value 'of these metals in the markets frequently 
 differs from that assigned to them by the laws of the different civilized states. 
 It is believed that gold, when compared with silver, has been for many years 
 appreciating in value ; and now everywhere commands in the money 
 markets a higher value than that which has been assigned to it in states 
 where its relative value is greatest. If this be correct, no injustice will 
 result from a change in the relative legal value of gold and silver, so as to 
 make it correspond with their relative marketable value. If gold, in rela- 
 tion to silver, should be raised five per cent., one ounce of it would be equal 
 to 15.75 or I5f ounces of pure silver. This augmentation in its value 
 would cause it to be imported in quantities sufficient to perform all the 
 functions of currency. As it is not used to any considerable extent as a 
 primary article of commerce, the fluctuations to which the silver currency 
 is subject from that cause would not affect it. It would be exported only 
 when the rate of exchange against the country should exceed the expense 
 of exportation. In ordinary circumstances, such a state of exchange would 
 not be of long continuance. If the currency of the United States must, of 
 necessity, continue to be paper convertible into specie, an increase of the 
 gold coinage, upon principles which shall afford the least inducement to 
 exportation, is probably the most wholesome corrective that can be applied, 
 after the rigid enforcement of that convertibility. 
 
 The copper coinage is believed to be susceptible of improvement. Cop- 
 per itself is too massive to serve the purposes of change. One hundred 
 cents are too cumbrous to be carried, and used in the numberless transac- 
 tions which daily occur between individuals. Coin, compounded of silver 
 and copper, of from one to ten cents, would be much more suitable for that 
 object. This kind of coinage has been adopted in other countries with 
 great advantage. >. ; 
 
 It has, however, been objected to this coinage 
 
 J. That, as compounded metals are much harder than the component 
 ingredients, it would be difficult, and consequently expensive, to work. 
 
 2. That the coin itself would be of little or no intrinsic value; copper or 
 brass being of superior value in the manufactures to which it might be ap- 
 plied : and that the public would scarcely submit to the circulation of a 
 coin so worthless. 
 
 3. That it might be counterfeited by a composition of zinc and copper. 
 After giving to these objections their due weight, it is believed that a change 
 
 of this nature, in the copper coinage, would be beneficial. Although the ex- 
 pense of such a coinage should be twice as much as that of an equal number 
 of silver coin, still it might be advantageous. Small change, both of silver 
 and copper, may be abundant in Philadelphia, the seat of the mint ; but it is 
 not generally so elsewhere. If it were, tickets of 6|, 10, 124, 25, and 50 
 cents, issued by mayors and corporation officers, and dollar bills torn in 
 two pieces, for the purposes of change, would not be employed for that pur- 
 pose. Thi's single fact is an answer to the second objection. The fractional 
 parts of a dollar are so indispensable in the transactions of individuals, that 
 any thing which assumes that character will be employed. If the tickets, 
 wh'ich, at this moment, form so great a portion of the change of this city, 
 and of various other places, are employed for that purpose, it is incon- 
 ceivable that the community should refuse to permit a compound com of 
 silver and copper to circulate, containing the intrinsic value which it repre-
 
 496 REPORTS OF THE [1820. 
 
 sents, merely because for manufactures it will not be worth more than brass 
 or copper, and that the expenss of refining will be equal to. the value of the 
 silver. Change that is, the fractional parts of a dollar is so indispensable 
 to the community, that its inapplicability to manufactures, and ,its exemp- 
 tion from liability to exportation, instead of forming objections, are recom- 
 mendations in its favor. 
 
 The objection that this coin may be easily counterfeited, is, if it cannot 
 be obviated, entitled to great consideration. As has been before stated, this 
 compound coinage has been successfully practised in other states. If com- 
 pound metals are much harder than their component ingredients, may not 
 a sufficient security against counterfeiting be derived from that circum- 
 stance? The dimensions and power of the machinery, which constitute 
 one of the objections to the coinage, will render it extremely difficult to se- 
 cure that secrecy and concealment which are indispensable to the success 
 of the counterfeiter. If this compound coinage should not be carried higher 
 than ten cent or dime pieces, the inducement, compared with the danger 
 of detection, resulting from the magnitude of the machinery, would not, it 
 is believed, be sufficient to encourage counterfeiting. If, however, it should 
 be deemed impracticable to guard against this evil, in a coinage composed 
 of silver and copper, an attempt might be made to obtain a supply of small 
 change, by a mixture of silver and zinc : the danger of counterfeiting would 
 then be removed. 
 
 As various plans have been suggested during the last twelve months, for 
 alleviating the general distress which has prevailed, by the emission of a 
 large amount of Treasury notes, a few observations on that subject will 
 close this part of the report. 
 
 If Treasury notes are to be jssued for this purpose, they will be either re- 
 ceivable in all payments to the Government, or they will be made redeem- 
 able at a fixed period. 
 
 1. If they are made -receivable in all payments to the Government, the 
 revenue will, from the time that $5,000,000 are issued, be substantially re- 
 ceived in them. The Government will be immediately unable to pay the 
 interest and reimbursement of the public debt in specie, as it becomes due. 
 These notes, when compared with the notes of the Bank of the United 
 States, will be at a discount. The latter notes, independently of their be- 
 ing everywhere receivable in all payments to the Government, are con- 
 vertible, at the place. of their issue, into specie. They are equal to the 
 Treasury notes in payment of the revenue, and superior to them, as they 
 can command specie when the holder shall desire it. 
 
 If the 14th section of the bank charter was modified, so that the notes of 
 the bank and of its offices should be receivable by the Government only 
 when tendered where they are made payable, a small amount of Treasury 
 notes might be issued, and circulated, without depreciation. In that case, 
 they would be used for the transmission of money, and would be in constant 
 demand for that purpose. It is the reception of the notes of the Bank of ih.3 
 United States, and its offices, by the Government, wherever they are ten- 
 dered, that causes them to be considered as a good remittance throughout 
 the United States. If they should cease to be so received, a demand for 
 Treasury notes to a small amount, for the transmission of money, would be 
 created, and would preserve them from depreciation. If the notes thus 
 issued should be made redeemable at the Treasury in specie, upon de- 
 mand, the amount which might be put and retained in circulation would 
 probably exceed, to a considerable extent, the sum demanded for the facile
 
 1920.] SECRETARY OF THE TREASURY. 497 
 
 transmission of money. Such Treasury notes would, however, have no ad- 
 vantage over the notes of the Batik of the United States, as long as they are 
 receivable in all payments to the United States, without reference to the 
 place where they are payable. It is even probable that they would not be 
 of equal value and currency with those notes, as the latter would generally 
 be made payable in the principal commercial cities, where remittances are 
 continually made, whilst the Treasury -notes would be payable only at this 
 place. If Treasury notes, payable in specie, on demand, when presented at 
 this place, should be preferred to the notes of the Bank of the United States, 
 it would be in consequence of the abuses which have been practised by 
 banking institutions, which have, in some degree, shaken the public confi- 
 dence in the integrity of their direction. 
 
 2. If Treasury notes were to be 'issued, not receivable in payments to the 
 Government, but redeemable at a fixed period, they would immediately de- 
 preciate, unless they bore nearly six per cent, interest. In the latter case, 
 they would be of little more use, as currency, than the funded debt. They 
 would not perform the functions of money. 
 
 3. In any case whatever, whether they are receivable in payments to the 
 Government, or bear an interest, and are redeemable at a fixed period, they 
 will afford no substantial relief where the distress is greatest, unless they 
 should be advanced as a loan in order to alleviate that distress. If they are 
 to be issued from the Treasury, in discharge of the demands upon the Gov- 
 ernment, they would never reach those sections of country where relief is 
 most required. There the Government already collects more than can be 
 expended. One of the causes of this distress is the necessity of transferring 
 the public funds from those section?, for the purpose of being expended, to 
 those where there is no deficiency of currency. 
 
 As a financial resource, the issue of Treasury notes is justifiable only where 
 the deficiency which they are intended to supply is small in amount and 
 temporary in its nature. As a measure of alleviation, it will be more likely 
 to do harm than good. I/ 1 a sufficient amount of those notes, of any descrip- 
 tion whatever, should be issued, and put into circulation where they are 
 most wanted, unless they were given away, a debt in that part of the 
 Union would be contracted to the extent of the issue. It might enable the 
 borrowers to pay debts previously contracted, but their relative situation 
 would bo the same. Unless the currency became vitiated by the relief 
 which was afforded, the ultimate payment of the debt would consummate 
 the ruin which the measure was intended to prevent. But it is probable 
 that the sums which might be advanced, by way of loan, would, in a great 
 degree, be lost. The Government is not, from its nature, qualified for ope- 
 jr.tions of this kind. The general system of credit which has been intro- 
 duced by the agency of banks, and by the inevitable effect of the measures 
 of the General Government, has produced an artificial state of things, which 
 requires repression rather than extension. The issue of Treasury notes, 
 for the purpose of alleviating the general distress, would tend to increase 
 this unnatural and forced state of things, and give to it a duration which 
 it would otherwise never attain. If much of the evil resulting from a de- 
 creasing currency had not already been suffered, there might be some plaus- 
 ible reason for urging the issue of Treasury notes as a measure of allevia- 
 tion. This ground cannot be urged in its favor; it is. therefore, indefen- 
 sible, upon the ground of expediency, as well as of principle. 
 
 The last member of the resolution assumes, by implication, the practica- 
 bility of substituting, by the constitutional exercise of the powers of Con- 
 gress, a paper currency for that which now exists. 
 VOL. ii. 32
 
 498 REPORTS OF THE [1820. 
 
 In considering this proposition, the power of Congress over the currency 
 of the United States cannot, consistently with the respect which is due to 
 that body, be either affirmed or denied. It cannot be supposed that the 
 House of Representatives, in adopting the resolution in question, intended, 
 through the agency of an executive department of the Government, to in- 
 stitute an inquiry as to the extent of the constitutional authority of a body 
 of which it is only a constituent riiember. Yet it will necessarily occur to 
 the House, that if the power of Congress over the currency is not absolutely 
 sovereign, the inquiry, whatever may he its immediate result, must be with- 
 out any ultimate utility. The general prosperity will not be advanced, by 
 demonstrating that there is no intrinsic obstacle to the substitution of a pa- 
 per for a metallic currency, if the power to adopt the substitute has been 
 withheld from the Federal Government. Without offering an opinion upon 
 the weight to which these views would have been entitled, had they been 
 urged whilst the resolution was under consideration, it is admitted that 
 they furnish no ground for declining the performance of the duty imposed 
 by its adoption. In the discussion of a question of so much delicacy and 
 importance, the utmost confidence is reposed in the justice and liberality of 
 those who have rendered it indispensable. 
 
 At the threshold of this inquiry, it is proper to observe, that it is deemed 
 unnecessary to present an analysis of the motives which led, even in the 
 most remote antiquity, to the general adoption, by civilized states, of gold 
 and silver as the standard of value, or of the advantages which have result- 
 ed from that adoption. The circumstance to which, in the course of this 
 investigation, it will be necessary to advert, is the tendency which a metal- 
 lic currency has to preserve a greater mnfbrmity of value than any other 
 commodity; and the facility with which it returns to that value, whenever 
 by any temporary causes, that uniformity has been interrupted. No argu- 
 ment will, in this place, be offered in support of this proposition. It is 
 founded in the experience of all nations. Its truth, for the present, will, 
 therefore, be assumed. But the proposition itse\f admits that gold and sil- 
 ver, when employed by the consent of all civilized states as the standard of 
 value, are subject to temporary variations of value. It is equally true that 
 they are subject to permanent variations. The cause and effect of these 
 changes will be considered previously to the discussion of the practicability 
 of substituting a paper for a metallic currency. 
 
 1st. When, by any circumstance whatsoever, a greater portion of these 
 metals is found in a particular state than is possessed by other states hav- 
 ing articles of equal value to be exchanged, they will, in such state, be of 
 less value than in the adjacent state's. This will be manifested by an in- 
 crease in the price of the commodities of such state. This increase of price 
 will continue until the metallic redundancy is exported, or converted into 
 manufactures. Whenever this redundancy is disposed of, the currency 
 xtill return to its former value ; and the price of other commodities will be 
 regulated by that value. 
 
 2d. But the exportation of specie may take place where there is no such 
 'redundancy. This occurs whenever the general balance of trade continues, 
 for some time, unfavorable to a particular state. The currency then appre- 
 ciates in value, and the price of all other commodities in such state is di- 
 minished. As commerce is nothing more than the exchange of equiva- 
 lents, the reduction in the price of the articles of such state, and the increased, 
 value of the currency, will promptly produce a reaction ; and gold and sil- 
 ver will soon return in the quantities required to reduce their value to that
 
 1820.] SECRETARY OF THE TREASURY. 499 
 
 which they maintain in the adjacent states. With the return of specie, 
 all other articles will return to the prices which they commanded before its 
 exportation. Like fluids, the precious metals, so long as they are employed 
 as the general measure of value, will constantly tend to preserve a common 
 level. Every variation from it will he promptly corrected, without the in- 
 tervention of human laws. These fluctuations, being temporary in their 
 nature, are wholly independent of the permanent causes which may affect 
 the value of gold and silver, when employed as the general standard of value. 
 They will equally occur, whether the quantity of these metals, compared with 
 the exchanges which they are destined to effect, be redundant or deficient. 
 The limits, however, within which these fluctuations are confined, are so 
 contracted that the great interests of society cannot be seriously affected by 
 them. But this observation mtist be understood to apply to a currency 
 purely metallic, or, at least, when the paper which is connected with it does 
 not exceed the demand for the convenient transmission of money. 
 
 3d. Gold and silver, when employed by the common consent of nations 
 as the standard of value, are subject to variations in value, from permanent 
 causes. When their quantity is increased more rapidly than the articles 
 which are to be exchanged through their agency, their price wiJl fall ; or, 
 w'mt amounts to the same thiug, the price of all exchangeable articles will 
 rise. It has been admitted by all intelligent writers upon this subject, that, 
 immediately after the discovery of America, towards the close of the fifteenth 
 century, a sudden and extensive depreciation in the value of these metals 
 occurred ; and that, from that time to the close of the eighteenth century, 
 they continued gradually to depreciate. This depreciation, it is believed, 
 has been accelerated during the la^t century, as much by the substitution of 
 paper for specie, as by the increase in the quantity of those metals during 
 that period, beyond the demand which would have existed for them, as cur- 
 rency, had that substitution not taken place. The precise effect upon the 
 depreciation of these metals, produced by the partial substitution of paper, in 
 various countries, for a metallic currency, will not now be inquired into : but 
 it is generally conceded, that the depreciation has been more rapid since that 
 substitution than at any former period ; except when the accumulated stock 
 of ages in the new world was brought into Christendom, and thence dis- 
 tributed into every other region where gold and silver were in demand. Since 
 the close of the last century, doubts have existed whether those metals, even 
 when employed as currency, have not appreciated in value ; and it is con- 
 tended, by the advocates of a paper currency, that this appreciation will 
 probably continue through a long succession of years, and seriously affect all 
 the operations of the civilized world. It is maintained by these writers, that 
 the demand for currency, at present, throughout the world, is greater than 
 the supply which the existing quantity of the precious metals will afford, 
 without materially depressing the price of all the objects of human industry 
 and human desires. When it is recollected that production is regulated by 
 demand, and that both are directly affected by the quantity of currency com- 
 pared with the quantity of articles to be exchanged, it is readily perceived 
 that an increase in the currency of the world, by the substitution of paper, 
 even when convertible into coin, will increase the quantity of exchange- 
 able commodities in the world beyond what would have existed had such 
 increase of currency not taken place. Under such circumstances, a sudden 
 reduction of the currency, by the rejection of the paper which had been em- 
 ployed, could not fail to derange all the relations of society, by diminishing 
 the quantity of currency, whilst the articles to be exchanged through its
 
 500 ... REPORTS OF THE [1820, 
 
 agency would suffer no such diminution. An immediate depression in the 
 price of all commodities would be the inevitable consequence of air unquali- 
 fied return to a metallic currency, upon the supposition that the quantity of 
 gold and silver annually produced should remain undhnimshcd. H'ut, if 
 this return to a, metallic currency should be attempted at a period when 
 the annual product of these metals, either from temporary or permanent 
 causes, should have considerably decreased, all the great interests of society 
 would be most seriously disordered ; property of every description would 
 rapidly fall in value; the relations between creditor and debtor would be 
 violently and suddenly changed. This change would be greatly to the in- 
 jury of the debtor ; the property which would be necessary to discharge his 
 debts, wofyld exceed that which he had received from his creditor ; the one 
 would be ruined without the imputation of crime, whilst the other would be 
 enriched without the semblance of merit. Until the engagements existing 
 at the moment of such a change are discharged, and the price of labor and of 
 commodities is reduced to the proportion which it must bear to the quantity 
 of currency employed as the medium of their exchange, enterprise of every 
 kind will be repressed, and misery and distress universally prevail. When 
 this shall be effected, the relations of society, founded upon a new basis, will 
 be equitable and just, and tend to promote and secure the general prosperity. 
 Such, it is contended by the advocates of a paper currency, are the cir- 
 cumstances under which the principal states of Europe are endeavoring to 
 return to a metallic currency. For a century past, the currency of those 
 states has been greatly increased by the employment of paper, founded, it is 
 true, originally upon a metallic basis. During the last twenty years, this 
 paper has ceased to be convertible into specie; and, as no systematic effort 
 has been made to prevent excessive issues, it has become redundant, and 
 consequently depreciated. Notwithstanding this depreciation, the produc- 
 tions of those countries, it is believed, have more rapidly increased, than 
 those of countries where a metallic currency has been preserved. The first 
 efforts that are seriously made by those states to return to a metallic cur- 
 rency, will be the repression of enterprise of every description among them- 
 selves. It will be foreseen that the currency must appreciate, and that all 
 other articles must depreciate in value. The effects of this appreciation of 
 money will be first manifested in those states by the fall of the price of all 
 articles which cannot be exported. In the progress of these measures, the 
 price of the exportable articles will also be affected, by the reduction in the 
 currency employed in effecting their exchange. It is even probable that 
 the quantity of exchangeable articles will be diminished. Whilst the ap- 
 preciation of the currency is perceptibly advancing^ the manufacturer will 
 not hazard his capital in producing articles, the price of which is rapidly 
 declining. The merchant will abstain from purchasing, under the appre- 
 hension of a further reduction of price, and of the difficulty of revendino- at 
 a profit. It is even probable that the interest of money will fall, whilsAhe 
 cry of a scarcity of money will be incessant. Under such circumstances, 
 loans will not be required, except to meet debts of immediate urgency. 
 None will be demanded for the prosecution of enterprises by which the 
 productive energies of the community will be increased. 
 
 As the measures which have been adopted by England, and several of 
 the continental states of Europe, for returning to a metallic currency, ad- 
 vance, the interests of those states which have adhered to it will be affect- 
 ed. Whilst gold .and silver were, in the former states, dispensed with as 
 
 , ' - ' ' ' '-" ,
 
 LS20.] SECRETARY OF THE TREASURY. 
 
 501 
 
 coin, they were sought for merely as commodities. The quantity necessa- 
 ry for their manufactures was readily obtained, without deranging in any 
 serious degree, the currency of other states. 
 
 It has been estimated that from eighty to one hundred and twenty mil- 
 lions of dollars were necessary to England. Taking the mean sum, and ad- 
 mitting that the other European slates engaged in the same effort require 
 an equal amount, a supply of two hundred millions of dollars is necessary. 
 The commencement of the measures necessary to obtain that portion of this 
 sum, which cannot, in a short time, be drawn from the annual product of the 
 mines, may not be immediately felt by other states. But, when these mea- 
 sures approach their completion ; when a large quantity of gold and silver 
 is necessarily withdrawn from the currency of other states, the price of 
 specie will, in the latter, appreciate, and the price of all commodities will 
 decline. All the evils incident to an appreciating, currency will be felt in 
 those states, though in a less degree than where a paper currency had been 
 exclusively adopted. The example presented by the return to a metallic 
 currency in France, even in the midst of a revolution, which probably had 
 some influence upon the decision of this question by other states, is believed 
 to be, in no degree, analogous in its principal circumstances. At the pre- 
 cise period that this change was operating, England, and the principal con- 
 tinental states, abandoned the precious metals as currency. The supply de- 
 manded by France was not only at hand, but was seeking the very employ- 
 ment which that change had made indispensable. At the same time, im- 
 mense sums were brought into France by her conquering armies, which, 
 being raised by military contributions, had, in some degree, rendered a re- 
 sort to paper currency in the invaded states necessary. At present, the 
 civilized world is at peace, and each state is endeavoring, by systematic 
 measures, to secure to itself a just participation of the benefits of equal and 
 reciprocal commerce. The states which are now attempting to return to a 
 metallic currency, will find much greater difficulty in effecting this change 
 than was experienced by France. 
 
 The demand for gold and silver, as the medium of exchange, cannot be 
 supplied until the price of all exchangeable articles has fallen in proportion 
 to the reduction of the currency, which the abandonment of paper must 
 produce. It is even probable, as has been- before suggested, that, after the 
 price of commodities and of labor shall have fallen so as to bear a just pro- 
 portion to the currency which is t6 be employed in effecting the necessary 
 exchanges, the currency will continue gradually to appreciate. This, 
 however, is matter of conjecture. It depends entirely upon the fact, whether 
 the annual produce of the mines, after furnishing the quantity necessary for 
 the consumption of the precious metals in manufactures, will be equal to the 
 increased demand for currency, arising from the increase of exchangeable 
 commodities throughout the world. The great advancement in the arts and 
 sciences the rapid improvement in machinery which characterize the pre- 
 sent age, acting through a long succession of ages, cannot fail to augment, in 
 an aslonishinsfdegree, all the products of human industry. 
 
 It may. however, be urged, that the same improvements will augment, 
 in an equal decree, the product of the mines ; and that, therefore, the quan- 
 tity of the precious metals in the world will continue to bear, to other com- 
 modities, the same relation which they may assume when the return to a 
 metallic currency is effected. This may be true; but, so far as it ^P 61 8 
 upon the general principle, that the supply of all articles is regulated by tl 
 demand, there is reasonable ground of doubt. The maxim, although good
 
 
 502 REPORTS OF THE [1820. 
 
 as a general rule, admits of exceptions. A demand beyond the supply, in- 
 creases the price of the thing demanded, and invites to the investment of 
 additional capital in its production. But, when the article demanded is to 
 be produced from a material which no investment of capital, no application 
 of skill, can augment, the only effect of such investment and application is 
 to produce the most which the material has the capacity lo furnish. Such, 
 in fact, is the case of gold and silver. The material from which they are 
 made is limited in quantity, which neither capital nor skill can augment. 
 It is probable that the improvements in machinery, and the art of refining. 
 will be counterbalanced by the exhaustion of the mines, or the difficulty of 
 working them, arising from the depth and extent of their excavations It 
 is therefore possible that the demand for the precious metals, for currency 
 and for manufactures, may exceed the production of the mines. 
 
 Previously to entering upon the immediate discussion of the practicability 
 of substituting a paper for a metallic currency, it is proper to observe, that 
 gold and silver derive part of the uniformity of value which has been ascribed 
 to them from the general consent of civilized states to employ them as the 
 standard of value. Should they cease to be used for that purpose, they 
 would become more variable in their value, and would be regulated, like all 
 other articles, by the demand for them, compared with the supply in any 
 given market. It is presumed, that, if they should cease to be employed 
 as the standard of value by several states, their uniformity of value would 
 be in some degree affected, not only in those states where they were con- 
 sidered as mere commodities, but in those where they were still employed 
 as currency. Whenever, as commodities, they should rise in value, a drain 
 would take place from the currency of other states; and when they should 
 fall in value, as commodities, they would seek employment as currency, 
 and render in some degree redundant the currency of the states where 
 they are employed. After making due allowance for the depreciation of 
 bank notes in England from the time of the bank restriction, in 1707, to 
 the present period, the price of gold and silver in that country is believed 
 to have varied more than at any former period. Their price, when com- 
 pared with bank notes, from the year 1797 to 1808, showed but a slight 
 degree of depreciation; considerably less, in all human probability, than 
 actually existed. During that interval, the demand for those metals was 
 limited, in England, to the sum required for manufactures. It is highly 
 probable, that, if the quantity of the paper circulation had been reduced to 
 the amount of the currency in circulation at the time, or for one year before 
 the restriction, the price of bullion would have been below the mint price. 
 On the contrary, in the year 1808, when the employment of a British force 
 in Spain created a sudden demand for specie, the depreciation of bank notes, 
 indicated by the price of bullion, was probably greater than that which really 
 existed. In the year 1814,* after the treaty .of Paris, the price of bullion. 
 estimated in bank paper, was not above the mint price; whilst in the suc- 
 ceeding year it rose to more than twenty per cent, above that price : the 
 amount of banknotes, in circulation at the former, exceeding, in a small 
 degree, that of the latter period. It is impossible that these variations in 
 the price of gold and silver, in the short space of one year, can be entirely 
 chargeable to the depreciation of bank notes. The effect which these vari- 
 ation?, in a great commercial state, where the precious metals were con- 
 sidered only as commodities, were calculated to produce upon the currency 
 of the neighboring states, has not been ascertained. The convulsions to 
 which most of these states were subject during that period may account
 
 1820.] SECRETARY OF THE TREASURY. 503 
 
 or the want of sufficient data to elucidate the subject. It is, however, highly 
 improbable that these fluctuations were not sensibly felt by them. 
 
 Having considered the nature and extent of the variations in value to 
 which a metallic currency is necessarily subject, it remains to examine 
 whether it is practicable to devise a system by which a paper currency may 
 be employed as the standard of value, with sufficient security against vari- 
 ations in its value, and with the same certainty of its recovering that value, 
 when, from any cause, such variation shall have been produced. It is dis- 
 tinctly admitted that no such paper currency has ever existed. Where the 
 experiment has been made directly by Government, excessive issues have 
 quickly ensued, and depreciation has been the immediate consequence. 
 Where the experiment has been attempted through the agency of banks, it 
 has invariably failed. In both cases, instead of being used as a mean of 
 supplying a cheap and stable currency, invariably regulated by the demand, 
 for effecting the exchanges required by the wants and convenience of society, 
 it has been employed as a financial resource, or made the instrument of un- 
 restrained cupidity. In no case has any attempt been made to determine 
 the principles upon which such a currency, to be stable, must be founded. 
 Instead of salutary restraints being imposed upon the moneyed institutions 
 which have been employed, the vital principle of whose being is gain, they 
 have not simply been left to the guidance of their own cupidity, but have 
 been stimulated to excessive issues, to supply deficiencies in the public 
 revenue. This is known to have been the case, in an eminent degree, in 
 the experiment which has been attended with most success. The issues of 
 the Bank of England, on account of the Government, were frequently so 
 great as to destroy the demand for discounts by individuals. In consequence 
 of these excessive issues, the interest of money fell below five per cent., 
 the rate at which the bank discounted; the demand for discounts at the bank 
 therefore ceased. It is, indeed, not surprising that no systematic effort has 
 been made to restrain excessive issues. In the case of banks, the experi- 
 ments which have been made were intended to be temporary ; they were 
 the result of great and sudden pressure, which left but little leisure for the 
 examination of a subject so abstruse. The employment of a paper circula- 
 tion, convertible into specie, (the favorite system of modern states,) having, 
 as has been attempted to be shown in a previous part of this report, the in- 
 evitable tendency to produce the necessity of resorting in every national 
 emergency to paper not so convertible, imposes upon those who are called 
 to administer the affairs of nations the duty of thoroughly examining the 
 subject, with a view, if practicable, to avoid that necessity. If the examina- 
 tion does not result in the establishment of a paper currency, unconnected 
 with specie, it may lead to the imposition of salutary checks against exces- 
 sive issues, when the necessity of suspending payment mny occur. 
 
 It has already been said that every attempt which has been made to in- 
 troduce a paper currency has failed. It may also be said, that of all the sys- 
 tems during the discussion of this interesting subject, both in Europe and 
 the United "States, which have been proposed, none are free from objec- 
 tions, it is possible that no system can be devised which will be entirely 
 free from objection. To insure the possibility of employing such a cuiren- 
 cy with advantage, it is necessary 
 
 1. That the power of the Government over the currency be absolutely 
 sovereign. 
 
 2. That its stability be above suspicion. 
 
 3. That its justice, morality, and intelligence, be unquestionable.
 
 504 REPORTS OF THE [1820. 
 
 4. That the issue of the currency be made not only to depend upon the 
 demand for it, but that an equivalent be actually received. 
 
 5. That an equivalent can only be found in the delivery of an equal 
 amount of gold or silver, or of public stock. 
 
 6. That whenever, from any cause, it may become redundant, it may be 
 funded at an interest a fraction below that which was surrendered at its 
 issue. 
 
 1. This proposition needs no elucidation. Coinage, arid the regulation of 
 money, have in all nations been considered one of the highest acts of sove- 
 reignty. It may well be doubted, however, whether a sovereign power 
 over the coinage necessarily gives the right to establish a paper currency. 
 The power to establish such a currency ought not only to be unquestionable, 
 but unquestioned. Any doubt of the legality of the exercise of such an 
 authority could not fail to mar any system which human ingenuity could 
 devise. 
 
 2. A metallic currency, having an intrinsic value, independent of that 
 which is given to it by the sovereign authority, does not depend upon the 
 stability of the Government for its value. Revolutions may arise ; insurrec- 
 tions may menace the existence of the Government : a metallic currency 
 rises in value under such circumstances ; it becomes more valuable com- 
 pared with every species of property, whether moveable or immoveable, in 
 proportion to the instability of the Government. Not so with a paper cur 
 rency ; its credit depends in a great degree upon the confidence reposed in 
 the stability of the authority by which it was issued. Should that authority 
 be overthrown by foreign force or intestine commotion, an immediate de- 
 preciation, if not an absolute annihilation of its value, would ensue. 
 
 3. It might, however, be saved from such destruction by a well grounded 
 confidence in the justice and intelligence of the Government which should 
 succeed that which had been overthrown. The history of modern times 
 furnishes examples that are calculated to inspire this confidence. In France T 
 during the revolution which hns just terminated, the public debt was reduced 
 to one third of its amount. The same rule was applied to the public debt of 
 the Dutch republic, when it fell under French domination. In the success- 
 ive political changes to which France has since that period been subjected, 
 the public debt and the public engagements Jiave been maintained with the 
 strictest good faith. In .Holland, that portion of the public debt which had 
 been abolished by the French Government has been restored. In the opinion 
 of well-informed men, however, the conditions.connected with that restora- 
 tion were so onerous as to render it almost nominal. Indeed, the public- 
 debt in that country had become so disproportionate to the means of the na- 
 tion when deprived of the resources it enjoyed when the debt was contract- 
 ed, that the reduction which it underwent while the country was annexed to 
 the French empire was not generally considered an evil. The reduction oi 
 the national debt of France during the revolution was perhaps equally indis- 
 pensable. If the intelligence of the age, and the influence of public opinion, 
 even in states where the reign of law was but imperfectly established, have 
 been sufficient to induce the Governments which have alternately succeeded 
 each other for the last twenty -five years, in France and Holland, to respect 
 the public engagements which had been previously contracted, well-ground- 
 ed expectations may be cherished that the period is rapidly passing away 
 when the public faith of nations can be violated with impunity. 
 
 If public engagements, under such circumstances, have been considered 
 obligatory upon those who have successively administered the affairs of those
 
 1820.] SECRETARY OF THE TREASURY. 505 
 
 nations, a reasonable confidence may be reposed in the fulfilment of the ob- 
 ligations which may be contracted by existing Governments, where the reign 
 of law is firmly established. It is not denied that a paper currency furnishes 
 strong temptations to abuse. Millions may be issued in a few days, and 
 the deficiencies in the revenue promptly supplied, if the condition of re- 
 ceiving an equivalent is abandoned. The moment the currency shall be 
 issued as a financial resource, depreciation will follow, and all the relations 
 of society will be disturbed. If the Government of the nation in which a 
 paper currency has been established shall be deeply impressed with this 
 truth, will it riot be restrained from the apprehended abuse? Currency of 
 every kind is liable to great abuses. The history of the coinage of every 
 nation, whose annals are known, is little more than a detail of the frauds 
 which have been practised by Governments upon the people. Until the twen- 
 tieth year of the reign of Edward III. of England, a pound troy of silver 
 of standard fineness, and a pound sterling, were synonymous terms: twenty 
 shillings sterling being, in fact, a pound troy of standard silver. Change fol- 
 lowed change in rapid succession, until, in the reign of Elizabeth, a pound 
 troy of standard silver was directed to be coined into sixty-two shillings. 
 This immense change in the value of the currency was effected in the space 
 of about two centuries. In other modern states, during the same period, 
 changes not less important occurred in the coinage. Frequently these changes 
 were effected by deteriorating the standard fineness of the coin. For more 
 than a century past, the coinage of the civilized world has undergone no mate- 
 rial change, with a view to the practice of fraud upon the people. Whether 
 this forbearance is to be attributed to an improvement in the morality of 
 modern Governments, or to a more correct understanding of the principles 
 of currency, and of the consequences that must result from every change 
 by which the relations of the society are affected, it furnishes just ground of 
 expectation that they will not hereafter be attempted. Nothing more is ne- 
 cessary to secure an unalterable adherence to the maxims upon which it is 
 manifestly necessary that a paper currency must he founded, in order to pre- 
 serve a uniformity of value, than the same morality and the same intelli- 
 gence. Without assuming the principle of the perfectibility of human na- 
 ture, the hope may be indulged, that the nature of currency will continue 
 to command the attention ofstatesmen, and that the abuses which have re- 
 sulted from improper changes in the currency will not again occur in the 
 same degree. 
 
 4. When the currency is metallic, no addition can be made to it without 
 giving an equivalent. It is indispensable that this condition should be an- 
 nexed' to the acquisition of the paper currency, preliminary to its entering 
 into circulation. If it can be put in circulation only on paying its nominal 
 amount in that which has a general and fixed value, determined by the con- 
 sent of other nations, it will continue to preserve that value during the time 
 it circulates, unless the relation which it bore at the time of its issue to the 
 quantity of articles, the exchanges of which it is destined to perform, shall 
 be varied. 
 
 5. As a paper currency is issued upon the national credit, the whole pro- 
 perty of the nation is pledged for its redemption, whenever, by any circum- 
 stance, it may become the interest of the community that it should be re- 
 deemed. It is therefore manifest that it should not issue upon the credit of 
 any individual, or association of individuals. A part can never be equal to 
 the whole. The credit of any individual, or association of individuals, can- 
 not be equivalent to that of they nation of which the form a part. But it
 
 506 REPORTS OF THE [1820. 
 
 may he said, that although the credit of individuals is not equivalent to the 
 credit of the nation, yet an equivalent for a particular portion of that credit 
 may be found in the pledge or mortgage of property of equal or greater val- 
 ue than the currency issued upon it. This may be true; but the value of 
 property has been continually fluctuating: it will continue to fluctuate, after 
 giving to the advocates of a paper currency full credit for the superior sta- 
 bility which they suppose will attend its substitution for gold and silver as 
 the standard of value. But this is not the only objection to the acceptance 
 of property as a pledge for the payment, by individuals, of an equivalent for 
 the paper currency which may be advanced upon such pledge. Frauds will 
 be practised by pledging property which is encumbered, which it would be 
 extremely difficult to detect. The Government will be involved in endless 
 litigation with individuals who are interested in the encumbrances by which 
 its right to the property pledged is embarrassed. In such contests, the in- 
 terest of the Government is always endangered, even where right is on its 
 side. It is not qualified to enter into such litigations with an equal chance 
 of success. The feelings of the community are always, except in flagrant 
 cases of fraud, upon the side of an individual supposed to be struggling with 
 the overwhelming influence of authority. Besides, in all contests of this 
 nature, something of the respect for the Government which ought to be cher- 
 ished by the citizens, especially of a free state, will be lost. The situation 
 is invidious, and ought not voluntarily to be assumed by a Government 
 jealous of its dignity and purity of character. It is therefore believed that a 
 national currency cannot be issued with safety, with a reasonable prospect of 
 success, and with sufficient security against redundancy, but in exchange for 
 gold and silver of a definite standard, or for the public stock at certain fixed 
 rates. When issued in exchange for them, and for them alone, there is, 
 though not the same, yet perhaps an equal, security against redundancy as in 
 the case of a metallic currency. When it is issued in exchange for coin, there 
 is no addition made to the currency. When it is issued in exchange for public 
 stock, commanding previously to the exchange its par value in coin, the party 
 who acquires the currency parts with that which was equal to specie, and 
 is deprived of the annual interest which it produced. Unless the interest 
 of the currency, resulting from its scarcity, should exceed that paid upon 
 the stock, it would not be demanded in exchange for the stock. In either 
 case, the danger of redundancy is extremely remote. By the exchange of 
 specie for currency, the active capital of the country will be increased to the 
 amount of the currency; and the capacity of the nation to redeem it, when- 
 ever it shall by any circumstance whatever become expedient, will be un- 
 questionable. 
 
 But it maybe doubted whether, under such conditions, a paper currency 
 ever can be put in circulation. Under a Government firmly established, con- 
 ducted by upright and enlightened counsels, and possessing absolute power 
 over the currency, it is believed there is no just reason to apprehend a diffi- 
 culty of that nature. ' If, in such a Government, banks existed, deriving their 
 powers from it, the specie in their possession would be gradually exchanged 
 for the paper currency which would become the basis of their operations. 
 Not only the specie which they possessed would be thus exchanged, but ex- 
 ertions would, from time to time, be made to acquire the sums necessary to 
 support their banking operations. Specie would be imported, even at an ex- 
 pense, for the purpose of being exchanged. Whilst specie formed the basis 
 of the operations of banks, its importation could not fail to be productive of 
 loss. Each importation not only produced the necessity of additional im- 
 portations, but at an increased expense. But, when importations shall be
 
 SECRETARY OF THE TREASURY. 507 
 
 made for the purpose of being exchanged for the currency, the exportation 
 of the specie thus imported will not affect the operations of the hanks. It 
 is only when the funding of the currency shall commence, that they will 
 be admonished to desist from further importations. Individuals and banks 
 would likewise exchange public stock, at the rates prescribed by the system, 
 for the paper currency. Whenever the demand for currency should be 
 such as to raise the interest of money considerably above that produced by 
 the public stock, it would by banks and individuals be given in exchange 
 for the currency. But the facility which the existence of a public debt fur- 
 nishes in procuring the 'paper currency is counterbalanced by the difficulty 
 of complying with the public engagement to discharge such debt in a me- 
 tallic currency. After a paper circulation shall be substituted for gold and 
 silver, they will be found in the country only in the quantity demanded for 
 manufactures, and for such branches of commerce as are entirely dependant 
 upon them. A considerable demand for gold and silver by the Govern- 
 ment, to meet its engagements previously contracted, would raise their 
 price in the market, and render the obligation to discharge those engage- 
 ments in the precious metals not only extremely onerous, but, perhaps, 
 sometimes impracticable. In such a state, a compromise with the public 
 creditors would seem to be a preliminary measure. This, under any cir- 
 cumstances, would be a measure of great delicacy and difficulty, and, in 
 some cases, would probably be utterly impracticable. 
 
 6. Whenever, from any cause, the currency should become redundant, 
 the redundancy may be funded at a rate of interest a fraction below the 
 rate of legal interest. 
 
 Tn determining the rate at which it may be funded, due regard should be 
 paid to the rate of interest previously existing in the state. The rate of 
 interest, it is conceived, ought not to depend (and. where a metallic currency 
 prevails, does not depend) solely upon the amount of currency necessary to 
 perform with facility the exchanges required by the wants and convenience 
 of society. In a new country, where there is but a slight accumulation of 
 capital, the interest of money will be high, notwithstanding there may be 
 even a redundancy of currency beyond what is necessary to effect its ex- 
 changes. In such a country, all the objects upon which capital may be 
 employed, except those of the most simple kind, are unoccupied. The cur- 
 rency necessary to effect the exchanges of its property, moveable and im- 
 moveable, will be entirely insufficient to satisfy the demand for capital for 
 those objects. If it should be multiplied so as to equal that demand, it would 
 exceed the demand for the necessary exchanges of society, and, conse- 
 quently, depreciate. Such, in fact, it is believed, would be the consequence 
 of issuing the currency upon individual credit, or upon the pledge of pro- 
 perty at a rate of interest below that which previously existed in the state. 
 Any change of the interest of money by law, previous to its having taken 
 place in individual transactions, in consequence of the accumulation of 
 capital, would be unjust, and could not fail to produce serious inconvenience 
 to the community. Admitting the rate of interest, in a state about to make 
 the experiment, to be six per cent., then the currency should be issuei 
 in exchange for specie, or six per cent, stock, or other stock according t< 
 that ratio. If the currency should, when, by any means, a redundancy e 
 isted, be fundable at five and a half per cent, interest, the utmost deprecia 
 to which it could be subject would be eight and one third per cent, 
 is probable that the real depression in ifs value would not, at any time, be 
 more than half that amount. Before funding would commence, the publ:
 
 508 REPORTS OF THE [1820. 
 
 stock, receivable in exchange for the national currency, would be above the 
 rates at which it was receivable. Its issue upon the exchange of slock 
 would, therefore, have ceased. There are in every community capitalists 
 who would prefer lending to the Government at five and a half per cent., 
 than to individuals at six. The funding of the currency would, therefore, 
 begin before the redundancy would offer any general inducement to that 
 mode of reducing it. The variation to which its value would be subject 
 would, therefore, be less than. eight and one-third per cent. It would be the 
 interest of the Government to reserve the right of redeeming the stock 
 created by funding at its par value ; under the condition, however, of re- 
 deeming it according to the order of time in which it was created. Con- 
 nected with this system, should be a permission to the banks to purchase 
 public stock, but not to dispose of it, except to the Government, at its par or 
 current value, when under par, unless the Government should decline the 
 purchase. The currency, upon being funded, should be invariably can- 
 celled. Under a system of this kind, if no other paper was permitted to 
 circulate than the national currency, a redundancy which would affect its 
 value could only occur by a temporary diminution of the articles which 
 were to be exchanged through its instrumentality. In that event, the price 
 of the articles would be enhanced, so as to require a greater amount of cur- 
 rency to effect their exchange. Should the price not be enhanced in pro- 
 portion to the diminution in the quantity of the articles, that portion of the 
 currency which would, under such circumstances, be left without employ- 
 ment, would be funded. A just relation between the amount of currency, 
 and the demand for it, would be promptly restored, without affecting injuri- 
 ously the relations between individuals. On the other hand, should a 
 greater quantity of.exchangeable articles be produced, the demand for cur- 
 rency would exceed the Supply, and lead immediately to additional issues, 
 until the nece?sary supply should be obtained. 
 
 But, in a state where banks already existed, which derived their charters 
 from the sovereignty that regulated the currency ; where the people were 
 accustomed to bank noties, and in the habit, of receiving them, the agency ot 
 these institutions might be admitted in supplying a portion of the currency. 
 They might be permitted to issue their notes, payable, on demand, in the 
 national currency. Their notes would, of course, be issued on personal 
 security. In this case, the currency might become redundant by the issues 
 of the banks. Whenever this should happen, the national currency would 
 be demanded of them for the purpose of being funded ; the banks would 
 be compelled to curtail their discounts, to relieve themselves from the pres- 
 sure, and the amount of the currency would be promptly reduced to the 
 legitimate demand. Whenever the agency of banks should be employed in 
 furnishing part of the circulation, a refusal, or omission, to discharge their 
 notes on demand, in the national currency, should be treated as an act of 
 bankruptcy. The national currency, being a legal tender in the payment of 
 debts to individuals and to the Government, would, in relation to trie banks, 
 perform the functions of specie, where bank notes are convertible into coin. 
 But, in order to impose a salutary check against excessive issues of bank 
 notes, the national currency should alone be receivable in all payments to 
 the Government. 
 
 In an attempt to trace the probable results of a paper currency, founded upon 
 the principles which have been developed in the preceding pages, the influ- 
 ence which it will have upon foreign exchange requires investigation. The 
 want of stability, morality, and intelligence in the Government which may 
 undertake to substitute a paper for a metallic currency, are the objections
 
 1820.] SECRETARY OF THE TREASURY. 509 
 
 which have already been considered. To these, according to common opin- 
 ion, is to be added the injurious effect which it is supposed it will havo 
 upon foreign exchange. In a country where the currency is metallic, an 
 unfavorable state of foreign exchange will probably have the following ef- 
 fects : 
 
 1st. To raise the price of exportable articles as much above that which 
 they ought to bear, as the premium paid upon foreign bills, until it exceeds 
 the expense of exporting specie to the foreign market. 
 
 2d. When this rise exceeds the expense of such exportation, the price of 
 exportable articles will fall gradually below. what they ought to command, 
 to the extent of that excess. 
 
 3d. Until this fall in their price shall be effected, specie" will be exported : 
 after which, it will cease. 
 
 4th. This fall in their price, by incrensingtheir consumption in the foreign 
 markets, ultimately provides for the return of the specie which had been 
 exported. 
 
 5th. During the second and third stages of this process, the price of all 
 articles not exportable is affected in a greater-degree ; enterprise is damped, 
 and distress prevails. 
 
 Such are the necessary effects of an unfavorable state of foreign exchange, 
 where the currency is metallic. As the vital principle of commerce is gam, 
 it is probable that, generally, the price of exportable articles would, in 'fact, 
 be rather higher than is stated in the preceding deductions; the timid might 
 export specie., before the premium upon exchange exceeded the expense of 
 its exportation ; but timidity is not the predominant characteristic of com- 
 mercial enterprise. On the other hand, the sanguine and enterprising, rely- 
 ing upon the chance of better markets, would give higher prices rather than 
 submit to certain loss upon the exportation of specie, or the purchase of bills 
 above par. 
 
 In a country where a paper currency has been adopted, and the principles 
 by which a redundancy may be prevented have been enforced, an unfavor- 
 able state of foreign exchange will probably have the following effects : 
 
 1st. The effect of raising the price of exportable articles, as much above 
 what they ought to bear as equals the premium upon foreign bills. But, in 
 this case, gold and silver, being exportable articles, will rise in the same pro- 
 portion as all other articles. 
 
 2d. When the price of all articles is raised so high that a loss will be in- 
 curred by their sale in foreign markets, those who have no remittances to 
 make will withdraw from the competition. If profitable investments in 
 other enterprises cannot be made, a portion of the currency, at their dispo- 
 sition, will be withdrawn from circulation, by being converted into funded 
 stock; competition will, in this manner, be diminished; the priceof articles for 
 exportation will be reduced by the reduction of the currency, and by dimin- 
 ished competition among the purchasers. It is not probable, however, that 
 the price will fall so low as to admit of a profit in foreign markets, as long 
 as the premium upon exchange continues above the ordinary commercial pro- 
 fit upon exported articles. But exportation will not be continued at a cer- 
 tain loss, longer than the discharge of debts previously contracted renders 
 indispensable ; foreign articles will not be imported, when the loss upon re- 
 mittances, whether made by bills of exchange, or by the exportation of com- 
 modities, is equal to the profit upon importation ; the high price given for 
 exportable articles will increase their production, and restore foreign exchange 
 o a favorable state. The balance of trade, and the rate of foreign exchange,
 
 510 KEPORTS OF THE [1820. 
 
 which have given so much trouble to statesmen for two centuries past, when 
 left to the laws by which they will be governed in despite of human devices, 
 as invariably regulate themselves as fluids, when unrestrained, find their com- 
 mon level. They will, probably, more promptly conform to these laws in 
 a state where a well-regulated paper currency prevails, than where it is 
 metallic. In the latter, the currency is exported to make up any temporary 
 deficiency, and by that means provides against the recurrence of the evil, by 
 indirectly causing an increase of the exportable articles of the state, and di- 
 minishing the importation of foreign articles. Until the capacity to pur- 
 chase these- by the exchange of articles shall be restored in the former, as 
 the currency cannot be exported, the importations will be more promptly 
 reduced to the capacity of the country to purchase, whilst the increase of its 
 exportable articles will be the direct, instead of the indirect, consequence of 
 a temporary incapacity to pay for previous importations. 
 
 3d. During the whole process of restoring a favorable state of exchange, 
 in a country where a well-regulated paper currency prevails, the price of 
 all articles not exportable will suffer no material variation. The funding 
 of the currency, which will probably take place, will not be immediately 
 carried so far as to reduce the price of exportable articles so as to command 
 a profit in foreign markets. They will, so long as the rate of exchange is 
 unfavorable, continue to command higher prices than when the exchange is 
 favorable. This increased price will encourage industry and enterprise, and 
 constantly lend to augment the productive energies of the community. 
 This effect cannot fairly be attributed to any depreciation in the currency. 
 That will continue to bear nearly the same proportion to the exchangeable 
 articles of the state, as when foreign exchange was favorable. It is proba- 
 ble even that its relation to those articles will be changed, so as to produce 
 an appreciation of the currency ; and that this appreciation will be perceived, 
 in a slisrht degree, in the depression of the value of all articles not exportable. 
 The effects of this appreciation will, however, be diminished by the impulse 
 given to industry and enterprise, by the increased price of all articles which 
 can be exported. 
 
 These are conceived to be the effects which a well-regulated paper currency 
 wiil have upon the foreign exchanges, and upon the domestic industry 
 of the country which may adopt it. If the value of currency depends, like 
 that of all other articles, upon the quantity compared with the demand, the 
 idea of its depreciation raising the price of articles, in the case which has 
 been considered, must be rejected. That this position is incontrovertible, 
 seems to have been admitted by all writers upon the subject. This admis- 
 sion is found in the reports which have been made to the British Parliament, 
 in the evidence upon which those reports have been founded, and in the es- 
 says of those who have opposed the paper system in that country, since the 
 year 1797. The objection to the paper system, as it existed in England, was 
 the absence of all restraint upon the issue of paper, and the supposed im- 
 possibility of imposing any efficient restraint. In fact, no attempt has 
 been made to impose such restraint in that country, unconnected with the 
 convertibility of bank notes into the precious metals. So far as this re- 
 straint is limited to the convertibility of bank notes into bullion at any 
 given rate, it is rather an attempt to regulate foreign exchange through 
 the instrumentality of the bank, than to confine the issue of bank notes to 
 the sound demand for currency. The restraint imposed seems to rest upon 
 the idea that an unfavorable state of foreign exchange must be the result of 
 a redundant currency. Nothing can be more incorrect than this hypothesis.
 
 1820/1 SECRETARY OF THE TREASURY. 
 
 Considering the vitiated state of the currency of England for more than 
 twenty years past, it is not surprising that this idea should there be enter- 
 tained. During that period, the unfavorable rate of foreign exchange which 
 generally prevailed, was, if not directly, at least indirectly, attributable to 
 the depreciation of their currency. But, in this interval, a favorable rate of 
 foreign exchange more than once occurred. To what could this favorable 
 exchange be attributed? Certainly not to the depreciation of their curren- 
 cy. But it would be as unjust to attribute every unfavorable state of foreign 
 exchange to the depreciation of the currency, as to ascribe to that currency 
 the credit of any favorable state of such exchange. The truth is, that fluc- 
 tuctions in the exchange, between two countries having a metallic currency, 
 continually occur, and depend upon principles wholly unconnected with 
 the idea of a depreciated currency. 
 
 If these views be correct, the only obstacles to the establishment of a paper 
 currency, by a Government having a sovereign right to establish it, is 'the 
 danger of the instability and want of integrity and intelligence of the Gov- 
 ernment. There is, certainly, just reason to apprehend that emergencies 
 may arise in the affairs of every nation, in which their stability may be men- 
 aced by foreign force or domestic insurrection. In such an event, a panic 
 might ensue, and the credit of the currency be utterly annihilated. How 
 far the recent examples which have been adverted to in other states how 
 far the influence of public opinion over the conduct of Governments may 
 be relied upon, as an efficient preventive against evils of such magnitude, 
 must be determined by those to whom, under Divine Providence, the pros- 
 perity and happiness of nations are committed. The subject involves all 
 the complicated interests of society, except the enjoyment of civil, political, 
 and religious liberty. It ought to be approached with more than ordinary 
 circumspection. In states the best qualified to attempt the change, it is en- 
 vironed with doubts which can only be dispelled by the light of experiment. 
 In the United States these doubts are greatly increased by the complex form 
 of the Government. In the division of power between the Federal and 
 State Governments, the line of separation is not sufficiently distinct to pre- 
 vent collisions which may disturb the harmony of the system. Collisions 
 have already arisen, and, in the course of human events, may be reasona- 
 bly expected to arise, until the line of separation by which their relative 
 powers and duties are determined shall be distinctly defined by practice, or 
 by explanatory amendments of the constitution, effected according to the 
 forms prescribed in that instrument. Upon no question will collision more 
 likely arise than that contemplated by the resolution under which this re- 
 port is submitted. No attempt to make the change has succeeded. The 
 measure, when stripped of extraneous difficulties, must be admitted to be of 
 doubtful tendency. Under the most auspicious circumstances, it may prove 
 abortive. Under circumstances in any degree adverse, it must inevitably 
 fail. Any obstacle opposed to its execution, by one or more of the State 
 Governments, would be decisive of its fate. Their simple acquiescence in 
 the measure would not be sufficient to secure to it that issue, to which the 
 principles upon which it might be established would necessarily lead. 
 Their active co-operation would be indispensable. The banks which de- 
 rive their authority from the State Governments are generally bound by 
 their charters to discharge their notes in specie on demand. From this ob- 
 ligation it would be necessary to the system to relieve them. The obliga- 
 tion to discharge their notes upon demand, in the national currency, should 
 be substituted for that of paying them in specie.
 
 512 REPORTS OF THE [1820. 
 
 , 
 
 If these obstacles should be removed, that connected with the public debt, 
 v/hich has been "suggested in a previous part of the report, would still re- 
 main. After the substitution of the national currency, gold and silver would 
 be imported only in the quantity required for manufactures, and for the 
 prosecution of those branches of trade in which they are primary articles 
 of commerce. For these purposes, the importations would be sufficient. 
 They might even be sufficient, and at a reasonable price, for the payment of 
 the annual interest of the public debt. But after the year 1824, when the 
 sum of $10,000,000 would annually be expended by the commissioners of 
 the sinking fund, it is probable that the premium which would be paid upon 
 it would be considerable, until the debt was extinguished. A compromise. 
 as has already been suggested, with the public creditors, would seem to be 
 a measure preliminary to any attempt to establish a paper currency. It is 
 more than probable that the attempt would hot only be unsuccessful, but 
 that it would injuriously affect the public credit. 
 
 It may also be proper to observe, that those sections of the Union where 
 a measure of this kind would be most likely to be acceptable, would proba- 
 bly derive from it the least benefit. In the west, and in the south, the com- 
 plaints'of a deficient currency have been most distinctly heard. In the lat- 
 ter, these complaints are of recent date. In both, they proceed in a greater 
 dsgrca fromthj disbursement of the public revenue than from any other 
 cause. The great mass of public expenditure is made to the east of this 
 city. The revenue accruing from imports, though principally collected in 
 the middle and eastern States, is paid by the great mass of' consumers 
 throughout the United States. That which is paid for the public lands, al- 
 though in some degree drawn from every part of the Union, is principally 
 paid by the citizens of the west and of the south. The greatest part of 
 the revenue accruing from the public lands, as well as that collected in the 
 southern States, upon imports, has been transferred to the middle and east- 
 ern States to be expended. The necessity of making this transfer arises 
 from the circumstance that the great mass of the public debt is held in those 
 States, or by foreigners, whose agents reside in them; and from the estab- 
 lishment of dock-yards and naval stations in their principal ports. This 
 transfer will continue to be necessary, until the public debt shall be extin- 
 guished, and until the other expenditures of the Government can, consist- 
 ently with the public interest, be more equally distributed. If a national 
 currency should be established, the demand for it in the southern and west- 
 ern States, for the purpose of transmission, would be incessant; whilst its re- 
 turn, by the ordinary course of trade, especially in the latter, would be slow, 
 and in some degree uncertain. The currency, being everywhere receiva- 
 ble by the Government, would, for the purpose of remittance, be more fre- 
 quently demanded in that section than specie, for the same reason that the 
 notes of the Bank of the United States and its offices command there, at this 
 time, a premium in specie. As the transfers of the public money are made 
 by the Bank of the United States, the excitement produced by the demand 
 for specie or funds that can be remitted consequent upon such transfers 
 has been directed against that institution. All the evils which the commu- 
 nity in particular parts of the country has suffered from the sudden decrease 
 of the currency, as well as from its depreciation, have been ascribed to the 
 Bank of the United States, which, in transferring the public funds, has been 
 a passive agent in the hands of the Government.
 
 1820.] SECRETARY OF THE TREASURY. 513 
 
 It is then believed that the evils which are felt in those sections of the 
 Union where the distress is most general, will not be extensively relieved 
 by the establishment of a national currency. The sufferings which have 
 been produced by the efforts that have been made to resume, and to con- 
 tinue, specie payments, have been great. They are not terminated, and 
 must continue until the value of property, and the price of labor, shall 
 assume that relation to the precious metals which our wealth and industry, 
 compared with those of other states, shall enable us to retain. Until this 
 shall be effected, an abortive attempt, by the substitution of a paper cur- 
 rency, to arrest the evils we are suffering, will produce the most distressing 
 consequences. The sufferings that are past will, in such an event, recur 
 with additional violence, and the nation will again find itself in the situa- 
 tion which it held at the moment when specie payments were resumed. 
 
 I have the honor to be your most obedient servant, 
 
 WM. H. CRAWFORD: 
 
 The Hon. the SPEAKER 
 
 of the House of Representatives. 
 
 VOL. u.33
 
 514 
 
 [1820. 
 
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 SECRETARY OF THE TREASURY. 
 
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 520 
 
 REPORTS OF THE 
 B. 
 
 [1820. 
 
 STA TEMENT of the bank capital in the several Slates, Districts, and 
 Territories of the United States, as far as it was known at the Trea- 
 sury, during the years 1814, 1815, 1816, and 1817. 
 
 State, District, or Territory. 
 
 Capital. 1814. 
 
 Capital. 1815. 
 
 Capital. 1816. 
 
 Capital. 1817. 
 
 Maine 
 
 $1.380,000 00 
 
 $1,930,000 00 
 
 $1.860,000 00 
 
 SI ,720, 000 00 
 
 New Hampshire 
 Vermont - 
 
 833,250 00 
 
 942,350 00 
 
 '943,350 00 
 
 997,550 00 
 
 Massachusetts 
 
 11,350.000 00 
 
 11,600,000 00 
 
 11,650,000 00 
 
 11,300^000 00 
 
 Rhode Island 
 
 2,317,3-20 00 
 
 2,317,320 00 
 
 2,317,320 00 
 
 2,317,320 00 
 
 Connecticut - 
 
 3,655,750 00 
 
 4,063,675 00 
 
 3,909,575 00 
 
 4,021,262 00 
 
 .New York - 
 
 17,185,352 00 
 
 17,700,736 00 
 
 17,145,979 00 
 
 16,991,704 00 
 
 New Jersey - 
 
 2,121,932 00 
 
 2,071,957 00 
 
 1,67-2,115 00 
 
 2,076,465 00 
 
 Pennsylvania 
 
 14,963,333 00 
 
 15,346,432 00 
 
 15,393,594 00 
 
 15,732,615 00 
 
 Delaware 
 
 996,990 00 
 
 973,890 00 
 
 974,500 00 
 
 974,500 00 
 
 Maryland 
 
 7,872,002 00 
 
 8,243,422 00 
 
 8,346,782 00 
 
 8,657,147 00 
 
 District of Columbia 
 
 4,060,814 00 
 
 4,244,765 00 
 
 4,650,176 00 
 
 5,008,527 00 
 
 Virginia 
 
 3,592,000 00 
 
 4,752,460 00 
 
 5,521.415 00 
 
 4,884,565 OO 
 
 North Carolina 
 
 1,576,600 00 
 
 2,594,600 00 
 
 2,776',000 00 
 
 2,796,600 00 
 
 South Carolina 
 
 3,730,900 00 
 
 3,832,758 00 
 
 3,832,758 00 
 
 3,919,973 00 
 
 Georgia 
 
 623,580 00 
 
 1,239,440 00 
 
 1,502,600 00 
 
 1,502,600 00 
 
 Louisiana 
 
 1,432,300 00 
 
 1,402,300 00 
 
 1,422,300 00 
 
 1,432,300 00 
 
 Mississippi - 
 
 100,000 00 
 
 100,000 00 
 
 100,000 00 
 
 200,000 00 
 
 Tennessee 
 
 212,962 00 
 
 365,610 00 
 
 498,506 00 
 
 995,500 00 
 
 Kentucky 
 
 932,600 00 
 
 2,532,000 00 
 
 2,057,000 00 
 
 2,823,100 00 
 
 Ohio - 
 
 1,435,819 00 
 
 1,932,108 00 
 
 2,806,737 00 
 
 2,003,969 00 
 
 Indiana 
 
 _ 
 
 _ 
 
 _ 
 
 127,624 00 
 
 Missouri 
 
 - 
 
 - 
 
 - 
 
 193,125 00 
 
 
 80,378,504 00 
 
 88,185,823 00 
 
 89,380,707 00 
 
 90,676,446 00 
 
 Bank of the United States - 
 
 - 
 
 - 
 
 - 
 
 35,000,000 00 
 
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 125,676,446 0$ 
 
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 1820.] 
 
 SECRETARY OF THE TREASURY. 
 
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 REPORTS OF THE 
 
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 1820.1 
 
 SECRETARY OF THE TREASURY. 
 
 D. 
 
 .1 STATEMENT showing the aggregate amount of the capital, circu- 
 lation, specie, and discounts, of several banks, (sixteen in number,) 
 situated in Maine, Massachusetts, Rhode Island, Pennsylvania^ Dis- 
 trict of Columbia, Virginia, South Carolina, Georgia, and Ohio, on 
 the 30/A of September, annually, in 1813, 1815, and 1819. 
 
 Year. 
 
 Capital. 
 
 Circulation. 
 
 Specie. 
 
 Discounts. 
 
 1813 
 
 6,903,377 
 
 6, 845, 344 
 
 83,059,149 
 
 812,990,975 
 
 1815 
 
 8,852,371 
 
 9,944,757 
 
 1,693,918 
 
 15,727,218 
 
 1819 
 
 9,711,960 
 
 4,259,334 
 
 1,726,465 
 
 12,959,560
 
 524 
 
 REPORTS OF THE 
 
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 1820.] SECRETARY OF THE TREASURY. 
 
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 INDEX. 
 
 A. 
 
 Agriculture, promoted by domestic manufactures, 321, 405, 445. 
 
 how affected by the fall in price of domestic articles in foreign 
 
 markets in 1818. 486. 
 
 Appropriations for 1814, gross amount of, 29. 
 
 Army expenses from 1st January, 1812, to 30th September, 1815 15 29 
 in 1816, 74. 
 
 1817, 89, 111. 
 
 1818, 111, 198. 
 
 1819, 145, 198. 
 
 1820, 168, 198. 
 
 1821, 200, 217, 234. 
 
 1822, 218, 239. 264. 
 
 1823, 248, 269; 276, 294. 
 
 1824, 277, 301, 313, 332. 
 
 1825, 314, 339, 354, 372. 
 
 1826, 355, 379, 393, 418. 
 
 1827, 394, 426, 461, 472. 
 
 1828, 466, 473. 
 
 B. 
 Balance in the Treasury, 1st January, 1815, 30. 
 
 1816, 74. 
 
 1817, 88. 
 
 1818, 111. 
 
 1819, 114. 
 
 1820, 169. 
 
 1821, 199. 
 
 1822, 217. 
 
 1823, 247. 
 
 1824, 276. 
 
 1825, 313. 
 
 1826, 354. 
 
 1827, 393, 472. 
 
 1828, 448, 472. 
 
 1829, estimated, 448. 
 Bank capital authorized by law, in 1814-15-16-17, 481, 483, 520. 
 
 of sixteen banks, in 1813-15-19, 523. 
 
 Bank credits, advantages and disadvantages of, considered, 491, 492. 
 Bank, national, establishment of a, recommended, 44. 
 Bank of England, suspended specie payments, remarks on, 491. 
 
 excessive issues of, reduced the rate of interest, 503. 
 Bank of the United States, subscription to the stock of the, 90. 
 
 a modification of the charter of, recommend- 
 ed. 177. 
 its beneficial effects on the fiscal operations of 
 
 Government. 446. 
 
 condition of the, on the 30th September, 1819, 
 481, 514.
 
 52& INDEX. 
 
 Bank dividends, in 1817, 117. 
 
 1818, 110, 155, 198. 
 
 1819, 184, 198. 
 
 1821, 199, 232. 
 
 1822, 237, 260. 
 
 1823, 292. 
 
 1824, 330. 
 
 1825, 337, 370. 
 
 1826, 416. 
 
 1827, 424, 460, 472. 
 
 1828, 473. 
 Bank notes, duty on, cease in 1816, 9. 
 
 ' in circulation in 1819, 482, 483, 518, 523. 
 Banks benefit the community, under certain restrictions, 487. 
 Banks increased since the termination of the war in 1815, 493. 
 
 should be restrained from excessive issues, and from issuing small 
 
 notes, 494. 
 Banks in the several States and Territories, condition of the, in 1819, 521. 
 
 specie possessed by the, 522. 
 Bounties and allowances. See Imports. 
 
 C. 
 
 Chesapeake and Ohio Canal Company, United States subscribe to the stock 
 
 of the, 447. 
 
 Circulating medium, plan for improving the, 40. 
 Cocoa, a reduction of the duty on, recommended, 325. 
 Coffee, a reduction of the duty on, recommended, 325. 
 Coinage of the United States compared with that of other nations, 494. 
 
 an increase and alterations of the. recommend- 
 ed, 495. 
 
 Colonial trade, remarks on the, 410. 
 
 Commerce, how affected by the tariff of 1824, 280, 319, 397. 
 state of the foreign, in 1828, 442. 
 
 how affected by substituting a paper for a metallic currency, 509. 
 Cotton, exported in 1825-26, 361. 
 Cotton fabrics, further protection necessary for the manufacturers of, 149, 
 
 325, 400. 
 
 Crawford, Mr., report of, on currency, 481. 
 Currency, report of Mr. Crawford on, 481. 
 
 of what it consists, and its condition, 482. 
 
 causes of depreciation in the paper, 484. 
 
 of metal and paper in circulation in 1813-15-19. 485. 
 
 when purely metallic, its effects, 488, 493. 
 
 how affected by bank issues, 489. 
 
 Treasury notes became a component part of the, in the eastern 
 
 States, in 1815-16, 491. 
 paper circulation may be beneficially connected with metallic, 
 
 491, 493. 
 
 ? metallic, value of, compared with that of other nations, 494. 
 \",^l the issue of Treasury notes for the improvement of the, consid- 
 
 ered, 496.
 
 INDEX. 523 
 
 Currency, the practicability of adopting a paper for a metallic, considered, 
 497, 511. 
 
 constitutionality of adopting a paper for a metallic, considered, 504. 
 estimated amount required for Europe, of metallic, 501. 
 
 B. 
 
 Debentures issued in 1813-14, 65. 
 
 1815, 82, 95, 150. 
 
 1816, 95, 150. 
 
 1817, 116, 150. 
 1818-19-20, 179,205. 
 1821, 225. 
 
 v 1822, 253, 
 
 1823, 285. 
 
 1824, 327. 
 
 1825, 367. 
 
 1826, 413. 
 
 1827, 451, 
 Debt See Public Debt. 
 
 Direct taxes increased in 1815, 12. 
 
 a reduction of the, recommended, 36. See Revenue, 
 Discriminating duties cease in 1816, 7. 
 Drawbacks See Debentures issued. 
 Duties on domestic manufactures, a repeal of the, proposed, 36, 
 
 table of existing, 46. 
 
 additional, on imports and tonnage, cease in 1S16, 7. 
 a continuance of the. recommended, 38. 
 on stamps and refined sugar, cease in 1816, 35. 
 on other articles, a repeal or reduction of, recommended, 36. 
 on imports, an increase of the, proposed for the protection of certain 
 
 articles of domestic manufacture, 149, 204, 223, 252, 400. 
 on fine cotton fabrics imported, an increase of the, proposed, 325. 
 on teas, coffee, and cocoa, a diminution of the, proposed, 325. 
 on imports, remarks on the credit system, in the collection of the, 
 492. See Imports; also, Merchandise, 
 
 E. 
 
 Estimate of receipts and expenditures for 1815-16, 24, 29, 33, 35, 73, 78. 
 
 1817, 78, 80, 88. 
 
 1818, 93, 110. 
 
 1819, 113, 145. 
 
 1820, 148, 167, 
 
 1821, 170, 199, 
 
 1822, 202, 218. 
 
 1823, 220, 247. 
 ; 1824, 250, 277, 
 
 1825, 281, 314, 
 
 1826, 318, 354. 
 
 1827, 360, 393. 
 
 1828, 396, 412. 
 
 1829, 449. 
 
 Exchange, (foreign and inland,) rate of, in 1813-14-15-16, 484, 524. 
 Exchange, (foreign) how affected by the depreciation of paper currency, 484. 
 
 by substituting a paper for a metallic currency, 509, 
 VOL. ii. 34
 
 530 INDEX. 
 
 Expenditures See Receipts and expenditures. 
 
 Exports for the year ending 30th September, 1822, 220. 222. 
 
 ' 1823, 250. 
 1824, 280. 
 
 1825, 318. 
 
 1826, 360. 
 for the years 1822 to 1827, 397. 
 
 1821 to 1828, 442. 
 
 F. 
 
 Finances, a review of the. in reference to the late state of war, 5. 
 state of the, in 1815, 24. 
 
 1816, 73. 
 
 1817, 88. 
 
 1818, na. 
 
 1819, 144. 
 
 1820, 167. 
 
 1821, 198. 
 
 1822, 217. 
 
 1823, 247. 
 
 1824, 276. 
 
 1825, 312. 
 
 1826, 353. 
 
 1827, 388. 
 
 1828, 439. 
 
 Flour exported in 1825-6, 361. 
 Foreign debt extinguished in 1810 ! > 20. 
 
 H, 
 
 Hamilton's reports on finances referred to, 445. 
 Hemp, an increase of the ditty on, recommended, 400. 
 
 I. 
 
 Importations into several ports, a comparative statement of the value of. 305, 
 gross amount of, in 1821 to 1828, 442. 
 in 1816, increased the rate of exchange, 484. 
 Imports, statement of the amount of duties accrued oo, in 1813-14, 65. 
 
 1815. 82, 150. 
 
 1815-16, 95. 150. 
 
 1817, 116, 150. 
 
 1815-16-17-18.150. 
 
 1817-18-19, 179. 
 
 1818-19-20, 205, 
 
 1821, 225. 
 
 1822, 253. 
 
 1823, 285. 
 
 1824, 327. 
 
 1825, 367. 
 
 1826, 413. 
 
 1827, 451. See 
 Merchandise imported* 
 
 Indemnity by Great Britain for slaves. &<*., amount of, 393. 
 distribution of the, 394, 418, 425. 
 
 Internal duties increased in 1315> 12, 
 
 '
 
 INDEX. 531 
 
 Internal duties, repeal of some, and reduction of other parts of the, proposed, 36. 
 
 repealed 31st December, 1817, 148. See Revenue. 
 Internal improvements, surplus revenues may be applied to, 81. 
 Iron, an increase of the duty on, recommended, 400. 
 
 L. 
 
 Land claimants (Yazoo) in Mississippi, statements of the awards to, 126, 
 
 166, 190, 216, 246, 275, 311, 345, 387, 431, 474. 
 Lands See Public lands, 
 
 Laws creating and increasing the revenue, reviewed, 8, 34. 
 repeal or modification of certain, proposed, 38. 
 a revision of the, recommended, 445. 
 
 Loans, additional, recommended, 75. 149, 178, 204, 282, 317, 359. 
 receipts from, in 1S12-'13-'14, 15. 
 
 in. 18 15, 26, 30. 
 
 terms on which obtained, 26, 53 to 64. 283. 306, 307. 
 receipts from, in 1816, 74. 
 
 1820, 178. 
 
 1821, 199, 204, 217. 
 
 1822, 223. 
 
 1823, 283. 
 
 1824, 312. 
 
 1825, 354, 370 See Revenue. 
 
 M. 
 
 Manufactures, a repeal of the laws injuriously affecting domestic, pro- 
 posed, 36. 
 
 table of the existing duties on domestic, 46. 
 
 a modification of the tariff, proposed for the better protection 
 of, 149. 204, 223, 252, 325, 397, 400. 
 
 promote the interests of agriculture and commerce, 324, 445. 
 
 domestic, exported in 1824-'25, 319. 
 
 1826, 363. 
 
 1827, 397. 
 
 1821 to 1828. 442. 
 how affected by the fall in price of domestic articles in 
 
 foreign ports in 1818, 486. 
 
 Mediterranean fund, discontinued in March, 1815, 6. 
 Merchandise imported, (the quantity re-exported deducted) in 1814, 66. 
 
 1815, 82, 95. 
 
 1816, 95. 
 
 1817, 116. 
 
 1818, 151. 
 
 1819, 180. 
 
 1820, 206. 
 
 1821, 226. 
 
 1822, 254. 
 
 1823, 286. 
 
 1824, 347. 
 
 1825, 476. 
 
 1826, 433. 
 
 1827, 452.
 
 532 INDEX. 
 
 N. 
 
 National bank, establishment of a, recommended, 44. 
 
 subscription to the stock of the, 76. 
 National circulating medium, plan for improving the, 40. 
 Navy expenses, from 1st January, 1812, to 30th September. 1815, 15, 29. 
 for 1816, 74. 
 
 1817, 89, 111. 
 
 1818, 111, 198. 
 
 1819, 145, 198. 
 
 1820, 168, 198. 
 1821,200,217,234. 
 
 1822, 218, 241, 264. 
 
 1823, 248, 270, 276, 295. 
 
 1824, 277, 302, 313, 333. 
 
 1825, 314, 340, 354. 374. 
 
 1826, 354, 381, 393, 420. 
 
 1827, 394, 428, 464, 472. 
 
 1828, 469, 473. 
 
 O. 
 
 Officers and soldiers See Revolutionary claims. 
 
 P. 
 
 Passports and clearances See Merchandise imported ; also, Imports. 
 Postage on letters, increased in 1815, 12. See Revenue. 
 Public credit, during the late war, state of the, reviewed, 6. 
 plan for improving the, 38. 
 state of, in 1828, 441. 
 
 Public debt, amount paid from 1st Jan., 1812, to 30th Sept., 1815, 15, 16, 30, 
 amount unpaid on 30th September, 1815, 19. 
 amount paid to 1st January, 1815, 22. 
 statement of the, from 1st January, 1791, to 1815. 47. 
 state of the, in 1816, 75, 82, 85, 90, 100, 
 
 1817, 90, 100 to 103, 111, 119, 135. 
 
 additions made to the, by funding Treasury notes, 104, 146, 160. 
 amount of the, on 1st January and 1st October, 1818, 112, 12Q r 
 
 146, 160, 164. 
 in 1819, 147, 161 to 166, 185. 
 
 1820, 169, 186, 188,200,212. 
 
 1821, 201, 213 to 216, 219, 235, 243. 
 
 1822, 219, 244, 249, 265, 272. 
 
 1823, 249, 271, 273, 278, 296, 308. 
 
 1824, 278, 303, 30P, 334, 342. 
 when it may be redeemed, 283. 
 
 amount paid from 1st January, 1817, to 1st January, 1825,284, 
 343.
 
 INDEX. 533 
 
 Public debt, amount of the, on 1st October, 1825, 315, 341, 344, 375, 384. 
 
 1826, 356, 381, 385 to 387, 421. 
 
 1827, 390, 429 to 431, 465, 472. 
 
 1828, 470, 473. 
 
 amount paid from 1st Jan., 1817, to 1st Jan., 1829, 440, 472. 
 amount unpaid on 1st January, 1829, 471. 
 Public lands sold prior to the establishment of land offices, 51. 
 
 from the opening of the land offices to 1814, 51. 
 from 1st October, 1814, to 30th Sept., 1815, 68 to 72, 88, 
 receipts from, in 1816, 73, 88. 110. 
 sold from 1st Oct., 1816, to 1st Oct., 1817, 97 to 99, 110. 
 sold in 1817-18, 110, 118, 135 to 143. 
 1818-19, 145, 156 to 159, 191. 
 1819-20, 167, 191 to 198. 
 relief to purchasers of, recommended, 175. 
 sold in 1820-21, 199, 211, 230. 
 effects of the relief laws on the sale of, 202. 
 sold in 1822, 236, 247, 258. 
 
 1823, 248, 266, 276, 290. 
 
 1824, 277, 297, 312, 328. 
 
 1825, 313, 335, 368. 
 
 1826, 376, 392, 414. 
 
 1827, 393, 422, 457. 
 
 remarks on the credit system in the sale of, 492. 
 
 R. 
 
 Receipts and expenditures, from 1st Jan., 1812, to 30th Sept., 1815, 16, 29. 
 
 from 1791 to 1814, 45, 73. 
 in 1815-16, 73, 88, 110. 
 1816-17, 88, 110. 
 1817-18, 111, 144. 
 1818-19, 145, 167. 
 1819_20, 167, 198. 
 1820-21, 198, 217, 233. 
 1821-22, 217, 233, 238 to 244, 247, 261. 
 1822-23, 247, 261, 268, 293. 
 1823-24, 276, 293, 300, 330-1. 
 from 1st Jan., 1817, to 1st Jan., 1825, 284. 
 in 1824-25, 312, 330 to 352, 354, 371, 476. 
 1825-26, 353, 371 to 382. 
 1826-27, 392, 413 to 438, 451, 457, 460, 
 
 472. 
 
 from 1821 to 1828, 442, 448, 451, 465, 473. 
 Revenue, state of the, during the late war, reviewed, 5. 
 laws passed in 1815 for increasing the, 12. 
 from what sources derived, and the amount in 1815, 12, 23, 30. 
 received from all sources, from 1st Jan., 1812, to 30th Sept., 1815, 
 
 16, 30. 
 
 laws relating to the several branches of, reviewed, 8, 34. 
 laws, modifications of, proposed, 36, 38, 445. 
 plun for improving the, 38.
 
 334 INDEX. 
 
 Revenue, amount of, in 1814-15-16, 73, 88, 96, 110, 144. 
 1817,89,96, 110, 117, 144, 167. 
 
 1818. Ill, 144, 150, 167, 198. 
 
 1819, 145, 155, 167, 184, 198. 
 
 an augmentation of the, recommended, 149, 204, 223. 
 amount of. in 1820, 167, 184, 198, 210. 
 
 1821, 199, 217, 226. 232. 
 
 1822, 218, 237, 254, 260. 
 
 1823, 247, 266, 276, 286 to 292. 
 from 1st Jan. 1817, to 1st Jan, 1825, 234. 
 
 in 1824, 276, 299, 312, 328, 330. 
 
 1825, 313, 335 to 337, 354, 368 to 370, 476. 
 
 1826, 377, 392, 413 to 416, 432 to 438. 
 
 1827, 393, 422 to 424. 448, 451, 457 to 460. 
 from 1821 to 1828. 442, 448. 
 
 how affected by the issue of Treasury notes, 496. See Mer 
 
 chandise. 
 
 Revolutionary claims paid under act of 15th May, 1828. 466. 
 Rice, amount of, exported in 1825-6. 361. 
 
 Salt duty, ceases in 1816, 9, 34. 
 
 a continuation of the, recommended, 36. 
 Silk, observations on the culture and manufacture of, 364. 
 Sinking fund, operations of the, to 30th September, 1815, 20. 
 
 rise and progress of the, 21 , 39, 
 
 further powers necessary to the, 40, 77. 
 
 statement of the, in 1816, 83. 
 
 stock purchased by the, in 1817, 106 to 109. 
 
 1818, 124. 
 
 1819, 164. 
 1826, 358, 382. 
 
 7 per cent, stock, to be purchased by the. 252. 
 operations of the, from January, 1818, to January, 1829, 440. 
 Slaves, &c., amount received from Great Britain for. 393, 460. 
 
 amount paid, 461, 466, 472, 473. 
 Specie, effects of the suspension of the payment of, by banks, on the fiscal 
 
 operations of Government, 12, 24, 40, 114. 
 payment of, resumed by banks, 114, 490. 
 amount possessed by banks, and in circulation in 1819, 482. 
 causes of the suspension of the payment of, by banks, 484, 490. 
 an article of commerce, 494. 
 
 Spirits distilled in the United States, duties on, to be modified, 36. 178. 
 importation of, to be prohibited, 178. 
 quantity imported. See Merchandise. 
 Stamp duties, cease in 1816, 35. 
 
 a continuation of the, recommended, 36. 
 Subscription to the Bank of the United States, 90. 
 Sugar, quantity imported. See Merchandise. 
 refined, duties on, cease in 1816, 35. 
 
 a continuation of the duties on, recommended, 36.
 
 INDEX, 535 
 
 Surplus fund, unexpended balances carried to the, in 1815, 29. 
 
 amount applied to the payment of the public debt since 
 
 January, 1817. 441. 
 Surplus revenues may be applied to internal improvements, 81, 252. 
 
 T. 
 
 Tariff of duties on imports, a modification of the, proposed for the better 
 
 protection of domestic manufactures, 149. 
 a revision of the, recommended, 204, 223, 252, 
 
 325, 397. 
 
 present compared with former, 304. 
 of 1828, effect of, on the revenue, 445. 
 Taxes, a view of the several descriptions of, in 1815. 12. See Direct tayes; 
 
 also. Internal duties. 
 Teas imported, a reduction of the duties on, recommended, 325, 409, 445, 
 
 See Merchandise. 
 Tobacco exported in 1824-5-6, 361. 
 Tonnage, amount of American and foreign, in 1814, 65. 
 
 1815, 82,95, 150. 
 
 1816, 95, 150. 
 
 1817, 116, 150, 179. 
 
 1818, 150, 179.205. 
 
 1819, 179, 205. 
 
 1820, 205. 
 
 1821, 225. 
 
 1822, 253. 
 
 1823, 285. 
 
 1824, 352. 
 
 1825, 367. 
 
 1826, 438. 
 
 1827, 456. 
 
 1828, 443. 
 Treasury notes authorized to be issued in 1815. 13. 
 
 amount received from, in 1812-13-14, 15. 
 
 issued prior to February, 1815, and outstanding, 19. 
 
 may be funded, 19. 
 
 for what purposes issued in 1815, 26. 
 
 amount received from, in 1815, 31. 
 
 re-issued prior to October, 1815, 52. 
 
 estimated amount of, unpaid in 1816, 64. 
 
 issued, 92. 
 
 funded and outstanding in 1817, 104. 
 
 1818, 112, 125. 
 
 stock issued on, to 31st December, 1817, 121. 
 outstanding in December, 1819, 165, 187. 
 
 October, 1820, 189. 
 
 November, 1821, 215. 
 
 October, 1822. 246. 
 
 1823, 275. 
 
 1824, 310, 345.
 
 536 INDEX. 
 
 Treasury notes outstanding in October, 1825, 316. 
 
 1826, 387. 
 
 1827, 431. 
 
 1828, 474. 
 
 constituted an essential part of the circulating medium in 
 the Eastern States in 1815-16, 490. 
 
 expediency of issuing, as a relief from the general pecu- 
 niary distress (in 1820) considered, 496. 
 
 W. 
 
 Wines, a reduction of the duties on, recommended, 409. See Merchandise. 
 Woollen fabrics, further protection necessary for manufacturers of, 149, 400. 
 
 Y. 
 
 Yazoo claimants, statement of awards in favor of the, 126, 166, 190, 216, 
 246, 275, 311, 345, 387, 431, 474.
 
 ucaoyncn 
 
 
 A 000080210