627 REPORT ON THE FINANCES. DECEMBER, 1835. 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 to Congress the following report: 1. OF THE PUBLIC REVENUE AND EXPENDITURES. The balance in the Treasury on the 1st of January, 1833, $2,011,777 55 The actual receipts into the Treasury during the year 1833, from all sources, were 33,948,426 25 Making the whole amount in the Treasury in that year The actual expenditures during the same year, including the public debt, were 35,960,203 80 24,257,298 49 Hence, the balance in the Treasury on the 1st of January, 1834, had increased to 11,702,905 31 In addition to this balance, the receipts from all sources, during the year 1834, were 21,791,935 55 Viz. From customs From lands From dividends on bank stock, &c. From sales of bank stock From incidental items $16,214,957 15 4,857,600 69 132,728 21 These, with the above balance, made an aggregate of Viz. This being an excess of expenditures over the receipts of $2,810,046 89, a balance was left in the Treasury on the 1st of January, 1835, amounting to only For the details of the receipts and expenditures in 1834, reference is made to the annual account thereof, which is this day submitted to Congress in a separate communication, accompanied, as will be seen, by similar details of the receipts and expenditures for the first three quarters of the year 1835, and of the whole estimates for 1836. The receipts into the Treasury, ascertained and estimated during 1835, are computed to be $28,430,881 07. Of these, the actual receipts during the first three quarters are ascertained to have been $23,480,881 07. Viz. Those during the fourth quarter, it is expected, will be $4,950,000. Thus, with the balance on the 1st of January, 1835, they form an aggre gate of $37,323,739 49. The expenses of the whole year are ascertained and esti Of these, the expenditures during the first three quarters are ascertained to have been Viz. Civil list, foreign intercourse, and mis- Military service, including fortifications, &c. Duties refunded Public debt $18,176,141 07 13,376,141 07 4,800,000 00 The expenditures for the fourth quarter, it is expected, will be Thus leaving on the 1st of January, 1836, (subject, however, to the deduction hereafter mentioned,) an estimated balance of money on hand equal to This includes what has heretofore been reported as unavailable funds, now reduced to about $1,100,000, making the computed available balance, on the 1st of January, 1836 19,147,598 42 18,047,598 00 On that are already imposed by Congress the following charges, by current and permanent appropriations, which have not yet been expended. First, of former appropriations, except those towards the sinking fund, it is supposed that there will remain unexpended, at the close of the present year, the sum of $8,126,794. Of that amount, it is computed that only $7,306,765 will be required to accomplish the objects intended by them; leaving $344,707 to be applied in aid of the appropriations for the ensuing year, without reappropriations, (as will be seen in the estimates,) and the balance of $475,322, which has not been required, either at all, or seasonably, for the objects contemplated in its appropriation, will, therefore, be carried to the surplus fund. Secondly, on what is properly embraced in the appropriations towards the sinking fund, there is an outstanding charge of about $253,556, for unclaimed interest and dividends on the funded debt, and of $37,233 for unfunded debt. These, though chargeable on the Treasury, under existing acts of Congress, and subject at any moment to be demanded, are not all likely to be called for immediately, if ever. Computing, however, all the existing charges of every kind on the Treasury, at the end of the present year, to be about $7,595,574, the balance of available funds then on hand would, it is estimated, be sufficient to meet the whole at once, and leave, to be hereafter applied by Congress to new and other purposes, the sum of about $10,450,024. The next subject deserving consideration is the action of this department, since the last report, in relation to the final extinguishment of the II. PUBLIC DEBT. Before the close of the year 1834, ample funds were deposited with the United States Bank, as commissioner of loans, to discharge all the public funded debt which was then outstanding. Of the funds so deposited heretofore, and still unclaimed by the public debtors, there remains in the possession of the bank the sum of Since the 1st of January, 1835, there has been paid from the Treasury, of interest and dividends outstanding and before unclaimed on the funded debt, the sum of There still remains of the same debt, due and unclaimed, but ready to be paid whenever demanded, an amount equal to about $143,570 63 60,000 00 253,556 00 Similarly situated is a small unfunded debt of $37,513 05, which may hereafter be claimed, and on which has been paid, during the past year, only It consists of claims registered prior to 1798, for services. and supplies during the revolutionary war, equal to Treasury notes issued during the war of 1812 And Mississippi stock $220 00 27,437 96 5,755 00 4,320 09 III. THE ESTIMATES OF THE PUBLIC REVENUE AND EXPENDITURES FOR THE YEAR 1836. The receipts into the Treasury from all sources, during the year 1836, are estimated at Viz: $19,750,000 00 Customs Public lands Bank dividends and miscellaneous receipts $15,250,000 00 4,000,000 00 500,000 00 To which add the balance of available funds in the Treasury on the 1st of January, 1836, estimated at $18,047,598, and they make together the sum of $37,797,598 00 The estimates of expenditures, submitted for all specified objects, both ordinary and extraordinary, for the service of 1836, and including the contingent for the usual excesses, are The expenditures during that year, for specified ordinary purposes, are estimated at only Thus the permanent and new appropriations for those purposes, required for the service of that year, are estimated at Under former appropriations, there is included in the esti- They are divided among the different branches of the pub- Naval service and gradual improvement $23,133,640 00 16,756,815 00 16,412,108 00 344,707 00 16,756,815 00 3,041,081 00 8,602,319 00 4,768,708 00 Previous appropriations to be used for 1836, for civil, &c. $5,192, for military, &c. $339,515. By virtue of former acts of Congress, there will probably be wanted during 1836, for the payment of interest and dividends unclaimed on the funded debt, and of the unfunded debt itself, yet unpaid, the sum of $50,000. To these add such contingent excesses of new appropriations by Congress for ordinary purposes, as are not included in the estimates, but which are likely to be deemed proper by that body, and the grounds of which were explained in the last annual report, $3,000,000. The estimates of expenditures in 1836, for extraordinary purposes, which are submitted in connexion with the military and naval services, amount to $3,326,825. Making, as estimated for the service of 1836, all the new appropriations of every kind, specifically called for, to be $17,515,933; and all the expenditures of every kind, for the service of the same year, to be in the aggregate, $23,133,640. On the supposition that the appropriations outstanding and unexpended at the end of the years 1835 and 1836, will be similar in amount, this would leave an available balance in the Treasury at the close of the year 1836, or on the 1st of January, 1837, estimated at about $14,500,000, provided the receipts be as computed, and Congress make no larger appropriations for extraordinary or other purposes, at their present session, than those enumerated in the estimates submitted. From this amount, after deducting about eight millions to pay the outstanding appropriations, to which the Treasury will then probably stand pledged, there will be left, at the close of 1836, a nett balance of only from six to seven millions applicable to any other use, which Congress may now, or then, be pleased to designate, instead of about ten and a half millions, the nett balance estimated to be left applicable at the close of 1835. In other words, the expenditures will in the ensuing year, for only the objects specified in the estimates, probably exceed the receipts in that year about four millions of dollars, and thus, to that extent, reduce the balance now on hand. |