The New Hampshire Gazette

TREASURY REPORT.
In obedience to the directions of the Act
supplementary to the act, entitled An act to
establish the Treasury Department, the acting
Secretary of the Treasury respectfully submits
the following.

REPORT AND ESTIMATES.
The monies actually received into
the Treasury during the year
ending on the 30th of September
1813, have amounted to,
viz:
Dols. 37,544,954 93
Proceeds of the cus-
toms, sales of lands.
small branches of
revenue, and repay-
ments
13,568,042 4

PROCEEDS OF LOANS, VIZ.
Loan of ele-
ven mil-
lions -un-
der the
act of
March 14,
1812, 4,337,487 50
Ditto of six-
teen mil-
lions un-
der the
act of
Feb. 8th
1813, 14,488,125
Treasury
notes un-
der the
acts of
June 30th
1812, and
February
25, 1813 5,151,300
-23,976,912 50
As will appear by the
annexed statement E.37,544,954 93
Making, together with
the balance in the
treasury on the 1st
of October
1812,
which was
2,362,652 69
An aggregate of
39,907,607 62
The payments from the Treasury
during the same period, have
amounted to
32,928,855 19
viz.
For civil, diplomatic and miscella-
neous expenc-
es both foreign and do-
mestic
1,705,916 35
Military department, in-
cluding militia and vol-
unteers, and the In-
dian department
18,484,750 49
Navy,
including
building of new
ships and the ma-
rine corps
6,490,707 20
Public Debt.
On account
of interest 3,120,379 08
Principal re-
imbursed 3,197,102 07
6,317,481 15
As will also appear by
the annexed statement
E.
32,928,855 19
And left in the treasury
on the 30th of Septem-
ber last
6,978,752 43
39,907,607 62
The accounts for the fourth quarter of the
year 1813, have not yet been made up at, the
Treasury, but the receipts and expenditures
during this quarter have been nearly as follows:
Receipts from the customs, sales
of lands, and small branches of
the revenue, about
3,300,000
Loan of sixteen millions
1,500,000
Do. of seven and a half millions
3,850,000
Treasury notes
3,680,000
12,330,000
Making, with the balance in the
treasury on the 1st of Octo-
ber, 1813, of
6,978,752 43
An aggregate of about
19,309,000
THE DISBURSEMENTS HAVE BEEN
For civil, diplomatic and mis-
cellaneous expences, about
400,000
Military department
5,887,747
Naval department
1,248,145 10
Public debt (of which near
6,000,000 was on account of
the reimbursement of princ.
pal)
7,087,994 95
And leaving in the treasury, on
the 31st of December, 1813,
about
4,685,112 95
19,309,000
Of the sums obtained on loan during the year
1813, and included in the receipts above stated,
an account of the terms on which they were
made has been laid before Congress, excepting
as to the treasury notes issued under the act of
February 25th, 1813, and the loan of seven
and a half millions obtained under the authority
contained in the act of the 2d August, 1813.
The annexed statement marked F will show
the whole amount received for treasury notes
during the year 1813, and at what places they
were sold or disposed of. Three millions eight
hundred and sixty-five thousand, one hundred
dollars of the notes issued under the act of June
30th, 1812, became due in the course of the
year 1813, or in the present month of January,
and have been paid off or the funds placed in
the hands of the Commissioners of Loans for
that purpose.
The papers under the letter G. will show the
measures taken under the act of august 2d,
1813, authorizing a loan of seven millions, five
hundred thousand dollars, and the manner in
which that loan was obtained. The terms were
88 dollars and 25 cents in money, for hun-
dred dollars in stock, bearing an interest of six
per cent : which is equivalent to a premium of
13 dollars 31 cents and four ninths of a cent on
each hundred dollars in money, loaned to the
United States. Of this sum of 7,500,000 dolls.
about 3,850,000 dollars were paid into the Treas-
ury during the year, 1813, and the remainder is
payable in the months of January and February,
1814.
For the year 1814, the expenditures, as
now authorized by law, are estimated as follows.
1. Civil, diplomatic and miscella-
neous expences.
1,700,000
2. Public debt, viz : Interest
on the debt existing previ-
: ous to the war, :.": ".."
2,100,000
Ditto on the debt, contracted .
since the war, 'including
treasury notes and loan for
the year 1814,
2,950,000
:5,050,000
Reimbursement of principal
including the old six and
deferred stocks, tempora-
ry loans and treasury notes, 7,450,000
-12,200,000
13,900,000
3. Military establishment, estimated by
the Secretary of War for a full com-
plement (including rangers. sea-fen-
cibles and troops of all descriptions)
of 63,422 officers and men and in-
cluding ordnance, fortifications and
the Indian department, and the per-
manent appropriations for Indian
treaties, and arming and equipping
the militia,
24,550,000
4.
Navy, estimated for 15,787 officers,
seamen and boys, and for 1,869 ma-
rines, and including the service of
two 74 gun ships for 4 months, and
three additional frigates for six
months of the year 1814, and the ex-
penses of the flotillas on the coast
and on the lakes,
6,900,000
Amounting altogether to
45,350,000
THE WAYS AND MEANS ALREADY PROVIDED
BY LAW ARE AS FOLLOWS:
1. Customs and sales of public lands. The net
revenues accruing from the customs during
the year 1812, amounted as will appear by the
annexed statements A. and B. to 13,142,000
dollars. Of this sum, about 4,300,000 was
produced by the additional duties, imposed
by the act of July 1, 1812. The duties which
have accrued during the year 1813, are esti-
mated at 7,000,000 dollars. The custom-house
bonds outstanding on the 1st of January, 1814,
after making a due allowance for insolvencies
and bad debts, are estimated at 5,500,000
dolls : and it is believed that 6,000,000 dol-
lars may be estimated for the receipts of
the customs during the year 1814 The sales
of public lands during the year ending Sep-
tember 30th, 1813, have amounted to 256,345
acres, and the payments by purchasers to
706,000 dollars, as will appear by the annex-
ed statement C. It is estimated that 600,000
dollars will be received into the treasury
from this source during the year 1814. The
sum, therefore, estimated as receivable from
customs and lands, is
6,600,000
2. Internal revenues and direct tax.-
From the credits allowed by law on
some of the internal duties, and
from the delays incident to-the as-
sessment and collection of the direct
tax it is not believed that more ought
to be expected to come into the
treasury during the year 1814, than
the sum of
3,500,000
3. Balance of the loan of seven and a
half millions, already contracted for,3,650,000
4. Balance of treasury notes already
authorized,
1,070,000
5. Of the balance of cash in the treasu-
ry on the 31st December, 1813, a-
mounting, as is above stated to a-
bout,
4,680,000
There will be required to sat-
isfy appropriations made
prior to that day, and then
undrawn, at least
3,500,000
And leaving applicable to the service
of the year 1814,
1,180,000
16,000,000
So, that there remains to be provided
by loans, the sum of
29,350,000
45,350,000
Although the interest paid upon treasury
notes is considerably less than that paid for the
monies obtained by the United States on funded
stock, yet the certainty of their reimbursement
at the end of one year, and the facilities they af-
ford for remittances and other commercial ope-
rations have obtained for them a currency which
leaves little reason to doubt that they may be
extended considerably beyond the sum of five
millions of dollars, hitherto authorized to be
annually issued. It will, perhaps, be eligible to
leave to the executive, as was done last year, a
discretion as to the amount to be borrowed up-
on stock or upon treasury notes, that one or the
other may be resorted to, within prescribed lim-
its, as shall be found most advantageous to the
United States.
The amount estimated to have been reimburs-
ed of the principal of the public debt during
the year ending on the 30th September last, in-
cluding treasury notes and temporary loans, will
appear by the estimate marked D to have been
3,201,368 dollars. As the payments on account
of the loans of sixteen millions had not then been
completed, and the stock had, consequently, not
been issued therefor, it is not practicable to state
with precision the amount added to the public
debt during that year; but, after deducting the
above mentioned reimbursement of 3,200,000
dollars, this addition will not fall short of
22,500,000 dollars
The plan of finances proposed at the com-
mencement of the war, was to make the reve-
nu e, during each year of its continuance, equal
to the expenses of the peace establishment, and
of the interest on the old debt then existing, and
on the loans which the war might render neces-
sary, and to defray the extraordinary expenses
of the war out of the proceeds of loans to be
obtained for that purpose.
The expenses of the peace establishment, as
it existed previous to the armaments of 1812,
made in contemplation of war, but including the
eight regiments added to the military establish-
ment in the year 1808, and the augmentation of
the navy in actual service, authorised in 1809.
amounted, after deducting some casual expenses
of militia and other incidental items, to about.
Dols.7,000,000
The interest on the
public debt, payable
during the year 1814,
will be on the old
debt, or that existing
prior to the present
war.
2,100,000
On the debt contract-
ed since the com-
mencement of the
war, including treas-
ury notes, and allow.
ing 560,000 dollars
for interest on the
loan, which must be
made during the year
1814, a sum as small
as can be estimated
for that object,
2,950,000
5,050,000
Making
12,050,000
The actual receipts into the treasury from
the revenues as now established, including the
internal revenues and direct tax, are not
estimated for the year 1814, at more than
10,100,000
viz
From customs and public
lands
6,600,000
Internal revenues and
direct tax
3,500,000
10,100,000
If to this sum be
added that part of the
balance in the treasury
on the 31st Dec. 1813.
which has been esti-
mated above, to be
applicable to the ex-
penses of the year 1814,
and which, upon the
principles above stated,
may be considered as
a surplus of revenue
beyond the expenses
of the peace establish-
ment, and of the in-
terest on the public
debt for the year 1813,
and therefore applica-
ble to the same expen-
ses for the year 1814,
which sum is estimated
at
1,180,000
And making together
11,280,000
There will still re-
main to be provided
new revenues capable
of producing
770,000
12,050,000
But as the internal revenues and direct tax,
when in full operation, will produce, in the year
1815, probably 1,200,000 dollars more than is
estimated to be received from them in the year
1814, it will rest with Congress to decide wheth-
er it is necessary that new and additional reve-
nues should now be established. To what ex-
tent the existing embargo may reduce the re-
ceipts into the treasury from the customs dur-
ing the year 1814, it is difficult to estimate, as
the operation of the war had reduced the re-
ceipts from the customs nearly one half from
that which was received during the year prece-
ding the war. The former embargo reduced
the revenue from the customs nearly one half
the amount of that which was received during
the year preceding its full operation. In this
case, however, the transition was from the full
receipt of a peace revenue, to the entire suspen-
sion of exportation and of foreign commerce in
American bottoms. It is not, therefore, to be
presumed that the existing embargo will cause
a reduction of the war revenue in the proportion
of the peace revenue. Moreover, the effect of
the act prohibiting the importation of certain
articles necessarily increases the demand and en-
hances the value of those which may be lawfully
imported, and the high price they bear will pro-
duce extraordinary importations, and in part
compensate for the prohibition to export any
thing in return: to this may be added, the duty
on salt, the operation of which is yet but par-
tial.
To the amount of the defalcation of the rev.
enue caused by the embargo, whatever it may
be, must be added the difference between the
amount of the interest payable in the year 1814,
on the loan of that year, and the whole amount
of the interest on the said loan payable in the
year 1815, as well as that part of the interest
which may be payable in the year 1815, on the
loan of that year. The sum of these items will
be required for the year 1815, in addition to the
revenues now established, except 430,000 dol-
lars, being the difference between the estimated
increase in the receipt of the internal revenues
-and direct taxes and the 770,000 dollars remain-
ing to be provided for in the foregoing estimate.
With these considerations it is submitted,
whether it may not be expedient and prudent
to provide new revenues capable of producing
either the whole or such part of the 770,000 dol-
lars unprovided for, as may appear necessary to
fulfil the public engagements and secure to the
financial operations of the government the con-
fidence, stability and success which is due to its
fidelity and to the ample resources of the coun-
try.—All which is respectfully submitted.
W. JONES,
Acting Secretary of the Treasury.
Treasury Department Jan. 8, 1814.