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TABLE OF CONTENTS.

Page

Report by
rency
Report by
Report by
Report by
Report by
Report by
Report by
Report by
Report by
Report by

Mr. Woodbury on the Finances and Cur-.
Mr. Woodbury on the Finances
Mr. Woodbury on the Finances
Mr. Woodbury on the Finances
Mr. Woodbury on the Finances
Mr. Ewing on the Finances
Mr. Forward on the Finances
Mr. Forward on the Finances
Mr. Spencer on the Finances
Mr. Bibb on the Finances




Sept., 1837
Dec., 1837
Dec., 1838
Dec., 1839
Dec., 1840
June, 1841
Dec., 1841
Dec., 1842
Dec., 1843
Dec., 1844

1
89
175
231
351
437
461
485
597
649

REPORT .-.ON THE FINANCES.
DECEMBER, 1838.

TREASURY DEPARTMENT, Decemher 3, 1838.

The undersigned respectfully submits the foUowing report, in obedi«
ence to the *^Act supplementary to the act to establish the Treasury
Department:"
I. OF THE REVENtJE AND EXPENDITURES.

The balance in the Treasury on the 1st of January, 1839, which will
then be available and applicable to public purposes^ is estimated
at
:
. . . ' . . . . . / . . , . . . . . . . . . . . $2,765,342 36
This result is derived from the following data;
On the 1st of January, 1837, the balance in the Treasury,
'
exclusive of trust funds and those belonging tb the Post
Oifice, w a s . . .
.........
.$46,337,688 36
The receipts during that year, from all sources exclusive
of the funds aforesaid, were
. . . . . . . 22,643,973 53VIZ:

Customs
Lands
Miscellaneous
.
Treasury n o t e s . . . .

.

.$11,169,290
6,776,236
1,705,457
2,992,989

39
52.
47
15

These, with the balance last mentioned, constitute an • - •'• •' -—-^^
aggregate o f . . . . . . . . :
....:....
68,981,661 89
The expenditures during the same year, exclusive of the
trust funds and those belonging to the Post Ofl&ce, were 31,815,409 91
VIZ:

Civil hst, foreign intercourse, and miscellaneous. . . . . . .
...
. . . $5,524,252 76
Military service, including fortifications,
Indian affairs, pensions, arming the
militia, the Florida war, rem'oval ofthe
Cherokees and Creeks', improvement^6f
rivers and harbors, constructing roads,
and building armories and arsenals. ...19,417,274 44



176

R E P O R T S OF T H E

/

[1838.

Naval service, including gradual improvement and exploring expedition
6,852,059 80
Pubhc. debt
21,822 91
This left in the Treasury, on the 1st of January, 1838,
—
a balance o f . . . . . . . . . .
...'..,.
$37,166,251 98
The receipts during the first three quarters of 1838, with
exceptions similar to those before named, are ascer-.
tained and estimated to have been. ...$31,075,723 19
VIZ:

• Customs, including postponed bonds
$12.^228,77^0 M
[Ofthis sum, about $2,900,000,
received in Treasury notes, cannot, until the settlements to which
.
they belong shall be completed by
the accounting officers, be entered
upon ..the Register's books. A
•
part will be carried into the Treas.ury .by warrant dux'irig-the fourth ';
quarter, and the remainder next
year.]

^

'

.

•
; ..

Lands
2,036,828 54
• Miscellaneous . . . . . . ; . . . . .
23.8,431 S5
Proceeds of third bond of
United.States Bank sold
fbr , . . . . . , . , , . . . . , . . . . :2,254,871 38 .
Part ofsecond b o n d , . . . . 1,,600,000. Q
O
Issue of Treasury notes. 12,716,820 86
The further receipts in the fourth quarter
, are estima,ted at...
.
.....
•

VIZ:

-.

•

'

•°. • '

7,05^,230 84

-•

:

—

•

Customs, estimating the
actual receipts during
.
the quarter, and not the
sums which may be for.-,.,.
...
mally carried upon the.
^
,
;
Register's books from
. . . . . . . .
former quarters.... ..L . $5,25O,0OO 0 0 Lands . . . . . . . . . . . . . . .
1,100,000 00
"[Ineiuding orily a portion, of
the preemptions, and such pf the
sales as may be actually paid .into
the Treasury befpre tlie "year expires.]
'••

Miscellaneous....... L .
On second Jbond of United
States Bank, due in
September, 1838, and
paid in part before and
in part after that date.

'
'

'

.

15,000 00 "
^
........ .
.
.
687,230 84*' -

-.
' "

.

; .

-^ ;

These united make the aggregate of receipts for .the year .
1838, as ascertained and estima.ted. - . . . .
.
. 3.8,127,954 OS



1838.]

S E C R E T A R Y OF T H E t R E A S U R Y .

177

This, with thebalarice on-the 1st of January lastrwould^^^^^^ . ./ • ' •
amountto...
....
. . . . . . , . £ . _ . . . , . . . ; . . . . . . .$75,2Q4v,266- pt^
The expenditures duiing-thefirst-three quarters; of .1838,
\ •
with-'similar- exceptions,..werci.-^...•.;..•.;....'.... l...-.-..... 28,4i§7,218'68^:
.•.:.•••••:••.•-..;•

Civil list,..&c.,

v i z _ : . . . .

........

.,

-.;..:

; • . • • ; . .

•./

:•;.•••..•••:.

••

. . . . - . . . .-•,:............. M,D29^674t 13 . -

fi:

•

•';••

-•.:.:.

.-Military:service, .&G.,.,.,........^.....,.....,...;....,.45,731,323:62,'.--••.. •. . • ^•:.' .

' N a v a l - s e r v i e e v & c . . . . . . . . . . . . , . . . . . : . , v . . . 4,325,563.21
Public .debt.-...;.,...:.:;.... ..-•..,.;....:.:...:.:. •' 1,217. 08
Redemption of Treasury notQs, including,.
: i n t e r e s t . . . . . . . . . . . 1 . - . . . . . . . . . - . ' . - . . . • . . ; . -4,339,440 64

.. :

. , ; / ..

The particulars are given inthe docurnent annexed (A.)
The expenditures during the.-fourth quarter, including.
$1.,000 interest on funded debt, and the redemption of .
. . $3,750,000 of' Treasury notes,' are estimated . by the"
; 1
d i S r e n t Departiiients:at;|13,511-9201-0..;.-B^^ i t i s "; '. v . ^ ' ^ .
Iiot expected thatthe redemf)tionof ah t^^
• ' «
appear on the Register's books till next year. Nor '
;" .
. . "does.the.undersigned anticipate that.the: actual; expen- .
ditures within this quaLrter, iricluding the' above: notesred.eemed.^ will e x c e e d : . . . . : . . ^ . : ' : - . . . . ' . ' • ! ' . . . . . . . . . . 12,0OO,;OO0 00
Making an aggre.gate ofexpenditures forthe year 1.838 of 46,427,218 68
This computation would leave, in:.the/treasury,, on the 1st of Januairy,
• • 183,9, a balanceof. - , . . . . . . . . ' . . : . . . . . . . . . . . . . . . . : . , . . . . ^ $ 3 4 ^ 8 6 6 , 9 8 7 : ; 3 3 r
I t is proper to ascertain, in the.nexf place,, how much of this balance isv
not immediately available arid applicable to piiblic purposes.
- -The sum-cif ^$28,101,644/97,^ which. ha:s been placed with the- Staites.
fo.r.safe keeping, .is a. part of;that balance, .and cannot, by the provisions-of the act of October .14, 1837, be made available till directed
:by-Gbn^gress; . . • ' . • • '
" ;' • . . • " ' '
'.] '
Another pait. is.about-$1^-PO;0O0.'O()^ due chie&y froiii^yaidousinso^^^^
vent .banks on accountsof the: moncythat. before :1.837;' had been plaqe'd in
their custody to the. cre.dit of the .treasurery and still remains unpaid.
- Another portion is hear:.|2,40.O,OOO . 00, which is due from banks that
sus.pended.'.specie paymentsiri 1837, and will-probably not b'e paid during
the present-year.
.'• • : , - . . . . . .•'•-, ; ' .;
. About $500,000 of the amount which,hasbeen.:placed in the.Mint, .for
the.specific.purposes designated;in the laws:oh thM'.subject^ is.another
part of that balance, which could not at onceb.e made:availab for other
objects without much public ihconvenience. '
•' "
../
The aggregateof- these: items, riot' immediately ayailable • and appli^
cable .to pubhc puiposes-, is •$32,-101,644> 97 ;.'arid if deducted-'from:theforegoing balance, itwould leave.on the 1st of January next, as statedin
the comniencement of this report, orily.the suna of $2,765,342 36.' then
'.available.ahd:applicable to those purposes. . . . . .
... •Subjoined is a" condensed view-of the receipts and means,Vas well as
VOL. iv.-^12.



178

R E P O R T S OF T H E - .

.

[1838,

the expenditures for 1838, as ascertained and estimated; also the funds
not available in that year.
!.'
...
. .".
Summary fior 183,8.—Receipts or Means.
, Balahcfe.on the 1st of January, 1838
. . . . . . . . . . . .$37,166,251 .98;
Receipts from customs.
i . . .•
.
.. 17,478,770 56
Receipts from lands. . ' . . . . • . . . I . .•
3,136,828 54.
Miscellaneous.....:........ . . J . . . . . . . . .
. 253,431 85
Treasury .notes issued^
° . . . . . - - - - . ^ -.^ -^-^ - /
12,716,820. 86
Second and third bonds of Bank of the United-States of
• Pennsylvania.

..........
. .

4,542,102-.22:
• $75,294,206.01

Expenditures.
Civil and miscellaneous, first three quarters.
Mihtary, first three quarters.
Naval, first three quarters
.....•..'...-.....
Estimate of above expenditures for the fourth quarter..
Public debt fbr the year.
............
Redemption of Treasury notes for the year.
.Balance on the 31st of December, . 1 8 3 8 . . .
..
.

$4,029,674
15,731,323
4,325,563
^8,249,000
2,217
8,089,440
34,866,987
$75,294,206

••
•"
Unavailahle Funds in 1838.
Deposites with the S t a t e s . . . . : . : . . . , . . . . . . . . . - . : . . . . .$28,101,644
Due from insolverit banks'beforea837
1,100,000
Due from banlcs that suspended payment in 1837, and '
not payable till 1839
.......:......
2,400,000
Part"of money in the M i n t . . .
.................
500,000
Total.............

13
62
21.
00
08
64
33
01

97
00
00
00

. . . . . 32,101,644 97

From balarice on the 31st.December, 1838, b e i n g . . . . . .$34,866,987 33
Deduct total unavailable j as a b o v e . . . . . . .
. . . . . . . 32,101,644 97
Available balance remaining . .'. $2,765,342 36
I I . OF THE PUBLIC DEBT.

The pa:yments ori account of the funded and unfunded debt sjnce the
1st December, 1837, have been as follows:' •
'
,
1. On account of the*principal and interest of the funded debt:
Principal.........
......................
$215 27
Interest.
2,001 81.
$2,217'08." •
Leaving unclaimed and undischarged.



$325,520 83

i83S.]

SECRETARY OF T H E TREASURY.

179

•VIZ: . •

Principal
Interest..

:

•. $75,954 47
249,566 36

2. On account of the unfunded debt existing previous to
1837, including $1-08 interest, on Treasury notes of
• 1815 .:...
:
. . . . . . . . . . . . . ••
Leaving the amount of certificates and notes payable oh
presentation
:..
.....
•

V I Z : . -

'

. •

-

;•

_

^ .

-

' '

Certificates issued for claims duringthe re'volutionaiy.
war, and registered prior to 1 7 9 8 . . . . .
$27,293 31
Treasury riotes issued during late war
. 5,300' 00
Certificates of Mississippi^stock.,. .•,
- 4,320 09

• • .$21'OS
$36,913 40

•

'

i

'

:','

'

/

In addition to the above, the United States, under the act of the 20th
May, 1836, for the relief of the corporate, cities of the District of Columbia, have assumed the following debts, bearing an interest'of five per
cent, exclusive of charges, viz:
Of the eitjr of Washington
$1,000,000 00
-Alexandria..".:..
250,000 00
\ ' "
Georgetown........
250,000 00
. —^—\
" • $1,500,000 00
T h e payments for the year 1838, on account of the interest and charges on this debt, amount to . . . . . . . . .

$76,995 99

3. Statement in relation to the issue a.nd redemption ofi Trectsury Notes in 1837 "
and 1838. '
.. * '
Issued under the act of the l2th October, 1 8 3 7 . . . . . . . .$10,000,000 00'
Do.
do.
21st May, 1838. . . . , . . . . . . . . 5,709,810 01
$15,709,810 01
Of this amount, f 6,888,809
4,280,273
2,784,844
1,755,881

60 were at 6 per cent.
72
'"'
•5"
".
73
'''
2
"
96 .: '*
1 mill per cent.

.

-.

The following amount has been'redeemed :
. : . . . . . . . .
There have, been entered to the credit of the *' account
of redemption ^of Treasury notes" on the books ofthe
Register.......
.$5,063,197 41.
.'• .
And there have been canceUed and returned to the Treasuiy, and are now
•
in the course of settlement, as appears - --.
fiom the records of the First Auditor:
.
and the Commissioner of the General " .. "
Land Office . - . . . . . . . • . . : . . . . . . . . . . 2,892,052 59
$7,955,250 00
Leaving outstanding



. „ . . « , , . , . , , , . . , . , . . , . . . -•-.. $7,754,560 01

1801;

r-- R E P O R T S O F T H E

•

i n . l^XPLANATIONS AS TO THE APPROPRIATIoifS OUTSTANDING..

t h e appropriatiohs heretofore inade.,. .w^^^
rerna,ih; uiisatisfied at"'
the end of the year. 1838,-and be chargeablie>pri the balance theri; in the .Treasury, and the. reveriue subsequently:'received, ^ ^^^
^^^
the. other Departinerits at' $13,187,426; 83, but by:the undersigried/,a^
$l,5i-l,.92d 10-more, in consequence of ;estijii9,tiiig" thie. expendituries'of
the fbikth,quarter differentfy..
• •;; ••'• -/•/.
• .:^-:r,.. - " . > - : . - - '
Upon, the. view^. taken., b y this Department .it. is ^ computed:- {that
$12,369,.623 6& of. those appropriations-y^U^
required to:be pa:id iri ,
Order to accoinphsh the oJt^ects .COT^
therii>:; ;;.::/;;
/ / /•/'.
Of the reniainder.abQut-.$,37O,30Q::40:\inay^gb;.to ;the/siirplus :fund,;:Gr
not be needed t o / accomphsh . thos.e.- objects, /and.:the residri^^^^^
$lj959,362 85, it IS;proposed to Apply.to the service.^^^^^^
year without reappropriatioh.
y ;•
IV. ESTIMATE OF THE RECEliPT^ AND E^^^

J^OR /L839.V'"

;

at

The receipts into the Treasuiy during the :year 1839 are estirriateii/.
. . • . . ' . . . . - . j . - j . - . ^ ' . : : : . : . : . • . : ' : . . : . : ' . : : . • : • . : . . • • • :$28;78Oi^0Qo^ 00-'

•

:

•
•

Viz:. . ^:-::V"-/,

• './•^•.fi'r.iy:

fifi-•:/;•:••

• •.;

.

Custorns . . . . . . . , , . . : ' . . . : . . . / ; . . . : : : - . : : : $ 1 9 y 0 6 0 , Q O O ' .©6 '
Larids ;-!.:l::<.'l^^^
4j50O,00O 00
Miscellaineous.,,. .v,;^:...-.:.:, '...:/...;...:,.'. ,/SOOjOOQ, Oft- -.. / .--;..;•..; / •
. t h e proceeds of'.the. ^fourth ybond'of the v. ' • / r . . .^. \ •
United .States. :Banky if k i d - - . . . ^ . . . . . 2^380,000 00.
..
Arid;the:'suiiis;;likelyto be realize^^
,:
^./
. . >/
.former deppsite banks on iristalrrierits
: .i
whioh beeorne ,due;in
QQ . r
: . .thiese, .with;the estitiiated' ba:larice; of •$'2,765.;342 in the
Treasury,." which, bn the 1st of January, 1839, will..be
available and applicabie;to-,public purposes, Gonstitute,;, /
. / ,
ian aggregate of efficient mearis ariniouritirigto:^.......-^ ,Si,545,342 00
The expenditures, fbr. 18p9,,includ
of Treasuiy liote^J andinterest, falling due iri-that y^^
at
.•.-•...•.:.;::... :../:;,^l.!,/.v..,i.i..-/,.....;;; .$3O,5OQfOOft^0O
Thu3, of the old ajypiropriatiohs 1 ^
/••:••/.
on the 1st of Januaiy ^..183^^^^^^
corriputed that,there. : •- / . - , . .
will be expended in- that year.:: :'fi^ :;,: fifiJ-.^.^i%fifi0,^Op,O^^
The Treasury notes to be redeeni.e.d,/:and;.inte.rest^^^ will; ..
amount ta, a l p o u t . . . . . . . . . . ^,-fi,.^^^,,:^^^.^.^
fi.
8,000,000 00
Ofthe new appropriations caUe:d/for,*to^
/ .
which are permanent for. 183.9,-ity'i^^^
.,.-.
there wiE be expended ;;withiri the year. ...^. „..., . ^ . 15,000,000^ QO
t h e s e , eohstituta an aggregate of actual expenditures for .
; l 8 3 9 v estimated.^at.-.. '' '.. . V . . . . . ...^......;; :$30,5oo,opo:0o:i



1838J

S E C R E T A R Y O F t H E TREASURY.

181

•'Leaving.:a.b^lanGe in the Tio^^
• •.
cember,. 1839,^ aivailable aiid:/applicab^^^ to; piiblic p u r - / : :
• ': /'
poses, wooioxmtmgw.-i:.'.,i.':^^^^
$lv045,342 00
' Th.e...es.tirriates, for. new/ ap.propriations.. now presented,-: '
.;
/ frorii-the diffeiont Departtn.ents amount to..^..1/......... .^._$21,665v089 95
To .these .niay.be added/permaiieri^^
-:
• ' - fi'.
^
..; seryice op.l83^j:made:.by .fornier aCtSj^^^^
:/9,894,.0OO 00
t h e s e rnake'. all .the new and . permanerit appropriations . . .
/forl$3^.;^."5.1...'.'.'-.... .^..-..•..\.-'.::.'..:".-V:...':.;^.-:-. "..$31,559,039 ^95
/,••."•'•'YIz^^•'{.

••"••'

: " : ' " . •

• ' V ^ . - / . . " / •

•" . - .

. •:•••

•'/[.['/:'[.^/.:^

• •

Giyil, fbreigh intercourse,, and. mis.cella/• neous.......;^..-^.:... ..,.,'.^ ,^-:,..../;.,....;. .,....$3,658,15.7 ..87. ... . .. ,:-,: -.;:
Mihtary-seryice,^M.-:.•/..^....-^
.
Kay^rservice,^ &c.. .:;;/.^^.
.'Rederiiptionpf;.treasury notes .a;nd other.
'/• ...
. ;
. ,/priblicdebt.;:..v^
...; ; - ..; . .
•'• 'For further paiticulars, see. the details' of th0 •ahriual estimates. :
• I t will";be'petc'e^^^^
th.eso sta:te.merits./that. no 'surplus - balan.ce'-w-iH
pjrobab.ly^.ex
the Ist of Jariusiry, 1839, or duiing that year, to.
.-De deposits.with t)ie several States -fp'r .safe keepirig• as^ a f6u.rth instalment_
urider the deposite aPt- of June 23, '1836./ Iri^^^
be
necessary iri restiicting theappropiiatiohstoth^
^yarits of the
.Goverriment, .or the .receipts /will not be ;^ufficie.ri't to " nie et the. currerit
•deniands on' the; treasury, unless• those feceipts.. should unexpeGtedly
'.exceed/the preserit es^^
./: ' ••
/.••';
: • W:heri ari.'iiritisual excess existed in the t r e a s u r y it was P^PPP^sed to
p|laqB/that
fourth/instalmeM^
fpr:safe keeping till needed;
Dut::^'befpre\ it/JDecaLme; payable., the._ riibriey was. .wante;d:-to, ^
•existirig' appiropiiatiprisi: / t h e : •deposite /of it Was .-therefore ;pQstppn.ed
.fey / C m
till .'riext/; Jariiui^tjrV and ..the: .mpney ha^^^ been: -used by the
tJriited States; t o which itjbelohged,' witliput;incurriri^ tlie expanse-; and
•i:nc.onveriience/-tp;a^^ the. •partie's' cone er ried,; of' paying and." then irnrrie.:8iaieiy'reGMlirig*'i^^^^
is; not .a.debt diie tp the .States,
/ariidj^^fe
is -npt/;required/tb.be
like.;.an appropriation for/1
put)hc^.'servrice.' /Yet.ihe ] rerriark; may, 'prpperiy :be added;, that if;;a
•surpius. shpuld'..
te^^
the
existing'charge's^^m
by/Gongress.iipbri the 'tfea;stiry,/to' rnake.tlie
.depiosite './prigi-naU^ cpritemplated^/ this,: Departmerit,": with' its present
yietv.s,":would.fe"el-.'bQurid. t o caiiy;it i.ritp effepty'unlp^ -C;pngr^
niean tirifie/should further mpdiiy'tli^
lfi fbice iri relation .to the
'sulijefet.-'-- "•••••/"'/;"••/ . ' fifi'fi- -fi^'- -fi/-'^ i -'•'•.••• ' ' ^ ' • . • ""•"
• v.-EXPORTS AND ii?kPORTS.,iN 1'838..;. •/

i./

• -: The e?j)(3tFts:duringihe yesar priiding.Septembeij ^0V-i838, are:Coriip:uted
..tb:haye beeri:$i03.;13Q,5®.'^--'^-- ^^
'
n ['^^\ '•'/ "- fi'fi'
: • O f t h e s e : a b o u t : | 9 Q , 6 6 6 , p 0 0 . w e ^ ^ ^pf;:dpmestik3,;^a;na>$l;^
•Ibreigii-origin."-•/'-.•• :••!-• - - . - r -'^ •:•/•• -:• M^v •^'-.'^ ^iiv-: 1/.:";? \-"'// •••:•/ •.v^--'-'^:



182

.

R E P O R T S O F THTi;

[1838.

/ The former have, diminished from the previous'year, $4,898^414, and
the latter, $9,384,962.'
,
: .
i Theimports forthe same .year were $112,000,000.
• T h e s e are $28,989,217 less in value than those of the previous yeaiv
jbeing nearly $78,000,000 less than those under the enormous overtradings
and other overactions-which chai-acterized 1836.
For further particulars reference may be had to the table annexed,: (C.)
'' It is an interesting fact,, that duiing the last three years morQ than
' $86,000,000 annually, or an ayerage of nearly nine-tenths of our whole
domestic exports have been derived from agiiculture. More than
seven-tenths of-our whole population are probably emploj^ed in that
useful pursuit.
VI. EXPLANATIONS OF THE ESTIMATES OF RECEIPTS AND EXPENDITURE Sy.
AND SUGGESTIONS ON THE MODE OF MEETING FLUCTUATIONS IN THEM.

The receipts from customs during the present year'will vary but
little from: the estiinate submitted inthe last annual report.' The receipts
from lands will be less; but the amount of sales made, and preemption
rights existing, will not differ essentially fiom-what w~as anticipated,,
though the act of Congress as to the latter passed so late that payments
Tor all of them could riot be realized till another year,, without causirig
rriuch inconvenience and unnecessaiy pressure in some portions of the
countiy.
X ' t h e estimates presented for new appropriations and for expenditures,,
•^ ^in 1838, were quite as large as the views ofthe difFerent Departments, at
the time Congressassembled in December last, appeared to justify. But
thp unexpected contiriuance of the Florida war, a solicitude to induce
t h e Cherokees tp remove peaceably, and.an earnest desire' to suppress
' with promptitude all threatened disturbances on om' northern frontier,
.with several other measures of less -importance originating in Congress,
led that body to make appropriations amounting: to nearly ten millions
beyorid- those requested, in the annual estimates. Some* provision of
additional meansfcorresponding to this excess, became, therefore, necessaryj and in order to discharge the excess and guard against contingencies, as well as avert the consequences of a protracted suspensiori-of
specie paymerits by the,banks. Congress wisely granted the additional
authority both to sell the bonds pf the United States Bank and to issue
new Treasury notes instead of siiph as might be paidin befbre the time
for their redemption arrived. The apprehensions of embarrassments in
the finances within the year, ."which had arisen fiom those unexpected
appropriations, and fiom the failure that then continued ainong the banks'
in most quartersoftheUniontb return to specie payments, were'renioved
-^by these opportune provisions. Occasions, however, have not yet arisen
to require the full use of either of them.
:
V The whole amount of Treasuiy notes outstanding at any one time
:since they were^first authoiized, in October, 1837, has neyer equalled ten
miUions of dollars, t h e amount now outstanding is orily $7,754,560 01.
Beside the restrictions on the sale of the borids of the Uriited States
Bank,, the warit of power to guaranty their eventual payment, and t h e



1838.]

S E C R E T A R Y OF T H E TREASURY.

183

short peiiod they had to run, with the great quantity pf State stocks in
'the market of a better character for permanent investment, caused some
temporary inconvenience, and prevented any offer for them, above par
either at honie or abroad.- The sale, however,-of one becoming expedient, it was effected within the limitations prescribed. It has not yet
been found necessary to dispose of the other. But it is expected that,
when the peiiod :for redeeming most pf the outstanding Treasury notes
arrives, it must be sold, unless other means to meet the public engagements shall, in the meari time, be provid'ed by Congress.
• If the receipts from customs or lands should exceed the estimates
made for the ensuing year, which, in the vacillations of trade, is not very
improbable, still.it is not supppsed^the excess will be so large that all
the expected charges on the year can be defrayed without a sale ofthe
reniaining bond, or sonie equivalent resource.
;
•..'•'•
.' The estimates of receipts for 1839, rest on the foUowing general views:
An overflowing tide of speculation and bank issues, like that of 1836, is
not anticipated while the recent evils and disasters.from these sources
are fresh in remembrance. Nor,. on the, contraiy, is any expectation
entertained of a repetition,^so soon, of the mercantile revulsions which
characterized the year 1837.
.
The receipts frpm duties duiing the last year, if the bonds had not
been postponed, would have been about $16,000,000. Those of the
present j^ear, in the ordinary operation of the laws, without the postponed bonds, will not probably exceed $13,000,000.
' By supposing a large increase of 50 per cent, in 1839,. beyond the
ordinary receipts for the last j^'earj they would amourit to between nineteen and twenty millions", and would be larger than .the receipts in 1835.
Such an iricrease would be greater than i n any previous year of our
history not affected by commercial restrictions, foreign wars, or important
changes in the tariff.
Considering that, urider the present credits the duties actually paid
within any calendar year,must be estimated chiefly on the impoits fiom
the 1st of July preceding to the 1st of July iri that year, and that two
biennial reductions in the tariff" have occurred since 1835, it is believed
that iiineteen or twenty millions is ari-estimate sufficiently high for 1839.
But a s t h e receipts of late have deperided much less than formerly,\,^
when credits were longer 'and almost universal, on the amount of bon'ds
taken in previous j^ears, the estimates must be much more conjectural;
and intestine commotions,-wars in Europe or ori pur own borders, fluctu. atipns in crops or:piices, arid, vaiious other'cpntingencies in the ensuing y
year, which cannot be foreseenor eomputedj may vary the result seyeraly^
milhons.
' •
- \ -.
'
;
/ ••
The reduced receipts both from lands^and duties iri 1837 and 1838, a s \ ^
cpmpared with the two preceding years, were anticipated by the Depart- j
ment in 1836; .arid a permaiienf provision to meet any deficiency w a s y
earnestly urged bn the consideration of Corigress. ; .
^
Confident as were* the expectations pnlertained by many, that the
revenue of 1837 would be so'great as tp •justify further la^rge'deposites
'with the States, and; severe .as; were the censures bestowed on those who
expressed apprebensions of a differerit result/a striking diminution in



184.

... R E P O R t S O F T H E .

. ;

[1838/

theV revenue, aetually pccurred. Althpugh any difference of opinion, on
:a ppiiit of.-so imuch.iinpoitaribe.tp the-pubhc^.f^^^ was .deeply .regretted
.by. the:Dep,artriierit,-yet it felt coristr.ained,.at that time, to regard many,
/appearances of .extraordinaiy prosperity as delusive ;• the existmg surpliis
:aisteniporaiy and fallacious in. its character; arid consequently beliey.ed
that, rnuch ofit wa's.likely.to be required in a.few years to meet deficiencies ..in.the re.veriue,: arising fiorii.. the progressive reduction of the tariff
.arid.those fluctuations-in income and expenditure to which all;Govern^
nients are mote or .less jsubject, .and to which our. own system pf finance
. is pecriiiarly. exposed... •
''.":
. . .. •.
..Apart \from the cpntingencies of .war. and other exigencies-affecting
^expenditure, it is impossible^ under..the ebbs and -flpods of trade -and.^
.speculatipns of all .kinds,, which/with the present banking: system- are as
certain though not soregujar as the tides, that axevenue derived chiefly
„frorii; foreign'.importations and the sales of land should not yibrate with
such changes. The.Pepartriient,.therefore, has discharged a duty deemed
imperatiye in urging on the atterition of :Congioss,;at several sessioris,
. some, permanent and efficient, arrangement fof eriabling the. treasury^ to.
meet, such fluctuations'without injury to .the p.ublic. credit. >
.
^
On one pccasibn permanent legislation in respect to this poirit did take
.place. But that hias been repealed,.or indefinitely postponed, by the act
of October 12, 1837; and. the-temporary iiieasii.res. substituted having^
nearly-ceased their operation,, the necessity for; some further provision is•
apparent. The form .seems to be the great question of difficulty; there
being, i t i s a p p r e h e n d e d , a gerieral concurrence of views in; favor of
.haHring.some effectual provision on a subject of such obvious:.importance.
.-• .The irivestment of a part ofthe surplus in the Treasury in State
stocks in the .manner, which for several years has been . successfully
.jpracticed, under the acts of Gongress, as to large sums belpnging; to. the..
Indians, so as to constitute -a provident fund to meet contingencies and'
!fluctua'tionSj.wa,s t h e mode first recommended.by tlie Departrnent.'. But
I i.a substitute for this plari-. was preferred by ..Congress, which, .directed the
I .\yhole .surplus t o be '•deposited with., the .States fof safe keeping, and
^ i enabled the Seciotary of the .Treasury to recall it whenever needed for
• public-purposes. In the autumn of 1837,.however, wheri the.necessity:
.of resorting tp this substitute was in view, Cprigress .postponed its operation. , Instead of :it, the powpr. to :issue Treasuiy notes for-a limite.d.
';' :pei:iod was granted.;. and for additiorial security against deficiencies, the.
.deposite of the fourth, .iris.talment "w-ith the. States- was deferred till nejct
;
• Jaiiuaiy;; and afterwards the power to seUthe.bpndsofthe United States
I
.'Barik was added. . ./But both of those powers.wiU soon be inoperative,
!
|^
and without some further.legislation on this; subject which shall.be.of an
\ "efficient character, and be available-atari early day, the/pres^^^^^
-the public, faith must be endarigered.:;. /
:/.,. . /v. : ..
\ / . Recent experience i s ..full: of .a.dmoriitiori. on this questipn. . Since th.e.
/ extiriguishment of the.national debt, and-especially.wi^^^^
last three;,
years, it has been:the pplicy.pf' Corigress tb avoid a large balance .iii the
, Treasu.ry imriigidiately ayailable, w^^
^service, was. regarded/as taken frorri the circulation of the country and in.^ome degfee hoarded, tho.ugh depo.sited in banks^w



1838.]

S E C R E T A R Y OF T H E TREASURY,

185

..public riioney the basis of .enlarged operations. This pplicy, as.- it obyiatPs
the ^hazardattendirig such operations,as-well as- the-.iriiputatiori-p
.. proper inlBuenee -in t h e management .of the mpney,.iscertairily. the; niost
prudent. . B u t the ipresef-vation of:.the ,public faith,-either .rinder:'t^^
former practice of ke;eping the riioriey in banks, or .urider the prpposed
systeni of- an.-Independent tr.easuiy,' :niay:occasionally render, pthpr:
resources, .necessary^ from' the ; cpnsiderable:fluctuatioris;which ..afe
jfrequently occurring iri our receipts arid expenditures .from year to year,
.and "even,.from -month''to month. ;;:Thus,r.the . receipts froni the usuid'i^
• sources, which;were.in 1834 .about twerity-one miUions, rose unexpectedly ^
:
_in. 1836 ,to' forty-eight/inillions; but'fell again -as .suddenly in 18:37 tp
only about nineteen millions. .-^Sb. the -aggipgate:expendituios:iri/1834^^
. and 1835,.indeperident- bf ariy-..pay nients for/tru sts or . the riatioiial- debt,' .
'Were pnly seventeen or.:eighteeri milhons;-.biit .from /[ri.diari wars :arid^ i
• other causes they rapidly rose, and, riotwithstandirig the'dinii-nution in I
receipts, have remairied since .not far from thirty milhons/yeaily. ./-Agaiii, |
.-in.the month of January last, the expenditures Were" orily about o n p - M '
lipn eight hundred • thousand dpllars; and in May.last, only"twp.miUipri
vtwo;hundred and fprty-twp thousand dollars;-but.in July they suddenly,
.increased to. over \fp.ur million, five hundred thousand dollars, being/an
excess in a single mpnth, of neafly.twp rnUlions and a-third, or ..nipre
;:than.enough'to sweep-off in thirty:days the Whole ballance on hand/
.Consequently, at any-period, with only a milliori.of tworin. the treasui^yj. ^
- and .the current- receipts being..less: than., twp." milhons monthly, .-it is I
tobvious that the pubhc .engage'nierits/could not all be :-punctually met," |
.uriless spme" power, hke those before., named, shaU exist to piovide /for
calls so unequal in different-portions of the year, as well, as in differerit
.years.. "Though the receipts for any oneyear .maybeequaltothe w-hole•expenditures within it, eyen that will .not .re move.the diffieulty. The
iexpenditures may be required iri larger prpportions in the-fir.st.half of the; ,
year,- and the greatest receipts .occur in the last half. : .;. ; . .- ,; ;., .' •
Having the powe'r to. issue.-treasury motes during -1838, the.pepaft;ment has-been, enabled.b.y -the aid of that-..and other.means, tpmeb^^
^every authorized .engagernent .withpurictuality..- A. power of a- similar
.kind has. been-found ill ..other •countfies, duiing. more than ^a century, to.
be- indispens.able-to sustain" public -credit- If. we keep .-orily-a.. Small.
available balance in; the Treasuiy, and "realize. •'only the .cpnip.af ati veiy..
small.income whiph i s ^desirable since the.discharge- of the natiorial debt, •
.arid this income, shall contiriue tp be affected-by the- peripdical ffuGtuatioris of receipts which .are prbbabie, under the. changes going- on i'li- thp
tariff, as well as in banking arid t h e ;habit s o f trade j.t^^^
equiyalent-resource," .se.ems .to .be e:ss'erit.ial/t6 the support of t h e .public;
faith'in the .scrupulous manner required by^justiceand spund policy. ..
t-he estimates .of expenditures.'iri .1839 .haye; been foriiied on. the mp§t
.econoniical -basis /which ';th.e..^diffefent;•p.epartrrients; "thirik ..the- public
iriterests" will • permit. • . the.y are .less^ than those of either of" the - two
preceding ypars,- urider many heads, ;and are several millions-less than
.either, the apprppriations . m a d e : by;,.Cpngress; in- thpsp -years, or/, "the
. expenditures .actually paid withiri them. -"./Jnclgirig from-past experience
alorie., the ..probabilities would be that: the :appio,priati6ris/tp:be madel ;a^^



186

R E P O R T S OF T H E

[1838.

the present session will exceed by some miUions' the estimates submitted.
.
But such additional appiopriations, to any considerable extent, are
not anticipated, when the whole circumstances ofthe countiy and of the
t r e a s u r y shall haye been, calmly reviewed by Congress. No doubt exists
with the undersigned that prudence at this time requires a reduction j
rather than an increase, in the aggregate of the annual appropiiations.
Besides w.hat is dictated, on this subject by a wise public frugahty, and
the straitened condition of the Treasuiy, it is probable that, by the
gradual reduction in the tariff which is in progress under the existing
laws, the receipts.fiom customs, which now average sixteen or. seventeen millions yearly, will by 1842., be'so far diminished as not then to
exceed ten or twelve milhons. Hence, if the annual expenses do not by.
that period undergo a reductipn in' some degfee corresponding, so as not
to surpass that sum and the few additional millions which may then loe
derived from the sales of the public lands, an unpleasant resort to another
increase of the tariff, or to a recall of .deposites with the States, or to
permanent loans, wiU then, if not sooner, become indispensable. / "
The further details connected with the diminution in our revenue by
1842, under the existirig laws, were so fully exhibited in the annual
report iri 1835vthat the .undersigned forbears on this occasiori to repeat
them. But in commencing the unpleasant task of reduction in the
^ expenditures, a question naturaUy arises as to what items it should first
\ be applied to. The Depaitment would not be understood as urging
retrerichment or parsimony, where the object is great, pressing, and
; constitutiorial. It has always approved, not only those appropriations
f which are necessary to satisfy the ordinaiy wants bf the public service,
: and others rendered proper to vindicate our rights and . national character in war, but those which our unexampled increase in territoiy,
numbers, and wealth may have required, in order at all times to afford
I ' due protection to persons and -property abroad, as well as at home, and
I discharge with e-fficiency all those mPmentous dutie.s which have been
clearly and wisely devolved on the Government ofthe Unioii. A judiciary
. for twenty-six, instead of thirteen Staites, must pf course require more
officers and'.eixpense. An army to guard an inlarid frontier of. five thousand miles in extent, and em'bracing one million and a.half of square
miles of territory riiore: than in 1789; and a navy to protect a 'sea-coast
of over-three thousand" miles; and a commerce of two millions torinage,
-' instead. of less than half million; with annual imports and, exports o f
nearly three hundred millions in^ value, instead of forty-three millioris,
»must necessarily require a large addition to the public burdens. .But,
. at the same time,, some of these circumstances evince, with equal clearness, a flattering change iri our ability to sustain those burdens.
! • This country is not like most others, stationary in either its fiscal
wants or its fiscal means, but exhibits more eleaiiy every year the interesting developmerit pf the wants and means of manhood, coinpared with
those of infaricy.
.;
. • -;
.
Besides the increased demarid.s:.;pn . the Treasuiy before mentionedv
.. there 'has sprung up a light-house.-establishnient, exceeding in .extent...
that of any of the Powers in Europe, with a plan of river and harbor



1838,]

S E C R E T A R Y OF T H E TREASURY.

187

improvements, of constructing national roads, hospitals, mints, forts,
arsenals, armories, nayy-yards, docks, and vaiious public edifices, in
some degree suited .to our present growth and necessities.
, '
On the other hand, corresponding changes j equally great, in our
; resources have fortunately occurred, and which last, w^henever.required
by the public wants, have been displayed with, great facihty.. As
evinced in the increase of our annual revenues from five to twenty and
thirty millions of dollars, those resources have enabled us not only to
discharge aUthe augmented current expenditures, but to defray from one
to,two hundred millions of national debt incurred in defence of our
, hberties; extinguish the Indian title to the greater part of several new
• States, so as to extend the boundaries of civilization and Christianity;
and make a liberal deposite with all the States of a surplus inpurincome,
exceeding twenty-eight millions of dollars. Herice the vaiious officers,
institu tions,, arid departments, appropriate for administering the whole of
these affairs, and in fine for executing the laws of the General Government in respect to sixteen instead of four miUions of people,, are not so
. much just topics of complaint as of admonition.tp increased caution in
regulating establishments and expenditures necessarUy so much enlarged.
It is certain that some of them, however laudable in their origiri? can be
-judiciously reduced as the advanced progress or completion'of the business and works to which they relate may sanction the measure. This
would be sound economy; and its reasonableness should be duly
.appreciated by those who consume as well as those who pay the public
revenue. •
'•
Iri the. midst of fiscal operations so much greater in amount, and
extended over a territory so much wider, none can be irisensible to the .
further .fact that they open an avenue, which cannot =be. too closely
guarded,,to vaiious excesses in expenses otherwise useful, and to numerous incidental charges, which, though not dishonest, may, on scrutiny,
be found neither necessaiy nor useful.. All these will demand untiring
watchfulness, or their accumulation must preventtliose reductions which
".'it is believed the public service" can in many cases bear without injury;
' which comport w;ith the economical principles always to be cherished in
republican forms of government; which the frugal and virtuous :habits
of,the .great mass of our population demand," and. which are deemed
essential to avoid embarrassment in the present and approaching condition of the pubhc income.
• :
'
The system of internal improvements is, for instance, voluntary, but
very expensive, and the growth almost entirely of the last thirteen years.
So is a large part of our light-house; establishment and fortifications.
Does not true wisdom require reductions and postpo.nempnts in appropriations towards these .objects, .at least till the revenue of the country
shall again clearly indicate the safety arid convenience of pushing.them
with moreyigbf?.
' .
'-'.".
'
-. • In the prospective state ofthe fin arices, ought not numerous donations
to local projects, whichhave of late years been so oommon, to. be like- wise forborne? " •
=. • ' . . ' / ' • :
,.
.Qur pension grants,/which are in a great degree gratuitous, exceed iri
.expense, annually, what was the -whole yearly cost of the. General



;188

/ R E P p R t S OF t H E /

^

/

••M38.

Governnient,independentof the public debt;frorii 1789tp.-1799. /However igerierous, therefpre, an^
ofteri: just,'may haye-beerirthe
ieplings yi^hich led; tQ/theirincrea;se; in••• tiuies of a- ^ greatA.&id-increasirig
. reyeriuej does-nptprridence teach u;s-tO;;exerGisecautipriin:^
thef. additions to "theni'while the tariff is .uridergoing. a gradual reductibri ?:
/: t h e s e / suggestions might: 'be/extended, -to other • inatters of ;a; similar
charaLCter... But • eriough 'has, been .specified to/ attract; • attentipri. -to :the
'
subject, generally. - ..Theariibunt:ofipceipts" arid/exp
-;pnthe laws/ariid;the cpndition/pf the-country,-and'npt "pri, 'this-.pppaft- merit, • i e :/latter/ can onfy.refeoriiiijerid-: -riieasures • which ;appear;: suitable,
in- xelatiori.tb:theni,. .- Haying done/this on the .present-sulyect^;it-,Ghee^
; fully leayes their^ ad:optiori. or rejectipn .where i t 'prope
the /superipr wisdorii and experierice of .Congfess^/- / ./: '
•
•
VII. ON THE^KIND OF^CURiiiNC
'-•:•:.
T H E : RESX^IPTION OF .SPECm

FOR" THE PUBLIC: DUESy^
/ • ' '

The.twp circulars/.annexed (D and. E.) POritairi air.,the instructioris .
which; have .been issued .by. this "Departmerit coricerriing: the .bu'if eripy
reGeiyable for pubhc/duGs,.sincethe:passagebft.he fesblutio
^on that subject in:May last,-.and the/act of July. -5, 1838.' :;Rfe^ipusly
the riotes of speGie-paying banks, as.-well as .specie - and Treasury .ridtes,..
•.yvere permitted- to be: tak.en fpr -duties,'but orily .the -last two for-.larids.A great part of the -..actual :f eceipts, however,. for:both diities 'arid lands,
was in. specie arid Treasury notps.- Since thpse iristfuctions were/given
more than half of the loceiptsfor :duties- has •cbrisistedof note's P.f;specie.paying.banks. Most of those forlands-coritiriue to; be- as/befpre; /,-.;.••Theidrid of cuiioncy. that.should be, t a t e
the rpiiblio. dues.; h^s
heretofprelbeeri fully•disGuss.ed .by/tliis",•Departriient.,^'/.a.nd. 'as th;e.yievi^s
thpriipi"©sented;^remairi utichanged, it is; ript.:pfpppsed^.;at- this:.tim^
enlarge .pri:ariy&rriier suggpstiorisv! .ir .;• '••'• •• v:\-- • / / " • -•/ -/••-::•;•//:"./;'But-what'Currericy- iti is-the riipst; proper: to :-ericbufage. for ;^piiy ate: as.
well as..pubhc-pnrppses,isla-'topic iritiniately• GoririeGted;-\jrith-•the fecerit'
•rpsiiniptioriof spepie payrripri:ts.-/.v^^^^ /^^ V-^' ^ •• '^ /"' ; ^' ; ^ •^'/\'"/; ',
•'./ Bpth. th.ese riiatters. haye of. late -'had a.'highly: impprtant bearing/pri'orir
' financiahopef ations; aria the: .striking/Gpntrast- betweeri :the";;State pf • the
Vi l--cpuntfyriri.'1814.and"]Lts.c
' ( sioii.sof specie payments .which occurfed.in- those year^^^^^
• instructive :a'-les^oii pri"the.iSubjeGtS: "'b^^
-as;^ to justify, -and"
•fequijiie.'a. few. details/in'P^
^ith.them,; • .:--/" ;. .:.;••? '•:,•: •/.. fifi
At "^hefofriiervperip.dthere'"jvs^ere only abprit-^eventeeri
^ \ /in.the"nn.-ited,:St.at6s, w^
^
in/;active". oirculaLtiorii This
/.surii. iwouldjavef age .b^
individuMpf ^our ipbpulatibii
-atthatitimPv;-.:Srri:aife
inralnibst/.evefy; Statp-and'By
the Geriefa! Goverrifnerit. Siich- beirig the; airrioririt of .;speeie • \and;.the
• 'oonditiori of the ;Gurfpricy^ the, Gpvef nriierit -ifelt pofripelled: tp :acguiespe..iri:
the iiiipohtiP;as-woU-ais ;ui^
pajxef o f alllnrids
for public dues; and-the sii.speri&ipri/of specie.pay te^^^
itous : however: ;fehprtj \yas .pfptfiaicted;nearly
: It wa^ then
• termiriaied-orily^by•great^persprig^
byfhumeforis. irisolveiiGies,.



1838.]: ^

S E C R E t A R / Y OF t i n : TREASURY.

189>

andy: as'" rriariy.: have- .supppsed,: by ithe; eopperatiori; pf, a': .n,e.W..national
b4nk, which its friends establish.ed urider;the belief of its: utilityi-if .npt-.
necessityj;to effect the acconiplshriientof .that object...
•.-/.-. '. .- ./:•
But- in-iiS37. the cpriditipri p f t h e curf^^
changed^ : there.wefe;abbut\eighty..riiiiUibris of. specie in. the. cparitryi
.equ-al.to.five:doUars per;head
.former-average* -'/'/.fii':'\ ''•'/'•fi-/-'. ' / •'.^•^y.'.'.• --...// ,-/ - --:•;•/-•-': ;-•'•• :•/> -. .
'It had been thus iriGreased,:. principally-by. the. firm arid i perseyeiing;
ppliey of-.the; General Governmeiit^ during, the last::fbur: years,;to :disco.urage^the.use of siriall notes,,an^^^^^^
the xurirency.:'-^::. ••••.-;;.•• '•••/ ;. /;• ......•.;.;•••.•.-.. ^^'-.V-/; •••.••:•;
; :/.•-,
. • In. this^state; of things the.public' officers M Price ,dechned: to • yiola^te ..
the-laws ,aridtCOrinte.riarice partiality^ ariiong"' debtors -b.y lopeiying' depreciated .pa:per, and that, of very different ;values-i-fof"public:dues.,..: With',Gut-hesitation-they also-refused;:u^^^^^
abandon.the/specie-standard
of;value, either- as/to paynients pr^-receipts,; and hencevsustained; through- '
put j/both. that" standaf d and the uniformity ..in imposts .sp wisely. estabhshed ty-the Cprrstitutiori.- ; / : . : /
'•'••'..-'• ^ •
;
/ ;;.
. . thisistep tended.' stiorigly;tperi^^
of specie pay^
nient&r arid, in corisequence. of• if,^. and of other measures about to.: be
explairied,.the susperisiorii thbugh it was riniofe general. than the former.Pne; ceased in s.briip:placesrvv
than- a year,> and.has::already
ended i n nipst partspf the "Uriion witbout ariy aid. from. the .dangerous.,
and.oyershadowing.iriflrie
nationalrbank. Tho esseiitial differ-.-.
ence in'the: course which/the .publip officers were/al)le:;tO pursue, as.to •
the kind of'inoney TeGeiyed,^ari,d the earlier period j'arid;/greatei;. ease o f
resumirig ispecie^ p^riierits,'^
o f t h e pohcy ;which'had; previously bfeen adopted /in relation to the
improvementpf the. currericy^
:« ; :^;.- ;. -'.// - •/- ;;-,:•;
.Tt/is. beheved. that about ^eyeri liundred banks and ^brariches. situated; /
i n twenty^wo :States.arid/Territories.haye already fesuriied" specie pay^,'
nients..: •Tho.sev-.iiiGluding:not^^^.fe
fioiri-thirty-whichrieyer'suspended,;
make^seyenlirindred; arid [thirty "to
: Seve'rity^ nioreiare.
exj)eGtedtb/fesuriie Pri-of^tefbrethe 'Ist of t h e erisuing rrionth^. :;Qf the:
residue,;aniounting'to..abpu.t -twenty^fiye,' with a c a p i t a f
four- iriiUipris,: it'is^belieyed tliat si^^
up;their. con^ .
cerrisibecause uriprofitable, arid.thafcthe fest "are/insolvent.. ;• ^ -...;.::; . •
• /Sopn.-.aftef'-the/jsusperisidn -this.-.Depaftnierit:urged; the:deppsite. banks'
to. usevtheir:utiiiost;efiQfts>"tp
;specie: payirients at an parly day.^ •
. ' It was/press'ed:'^that^eaGh^.^a^^
stfong nibfai obligatipny .&d:.iriipef ative:. duty', under the laws j.'should,
fe.sump specie payriients t h e riipmpnt:it'v^as ^a^le-'Safelyf .to effect theni;,
orj at least j that; alkthe ibanks in^p articular: rioi
ties, arid:/Btates;;-shouid ''unite-*in idoirig::this •y^heriever. able, withput:,
. •waitirig rfori weaker iristitutioris.-; or 'more eiribarrassed:;regioris. of the ^
•couritry;/-: ;•;: •;•" :\ •:'";••:-.;. -.'./.•:..•/•••:'' ..-.• v/.;- ;.'. -^y/. :. . /.. -, /
..,
the-."adoption:.; of tiiat ipbufste iri.-^ome /States,' howeyer;riiiich:the/
nieasure -was s'q^:estipned' ;at\ the ^ tiriie,. and:'pefseyeiirigly opposed::by rriari5^-barik^.as;welfas^irifl^
has-proved.f&tifna^^
reflects great credit on-the-sagacity;/firriiriess^. arid m^



190

R E P O R T S OF T H E

[1838.

who adopted it.". The encouragement given by the D.epartment to such
institutions as resumed specie pa5anents, by taking no paper but theirs:
for publie dues, and by preferring them in the transaction ofpublic
business, was not without salutary influence/ Suits against the banks
ill default, unless apparently insolvent, were also forborne, and drafts
continued with great advantage to be issued gradually on all that were
dispbsed to make satisfactory arrangements with the public creditors;
and thus lessen those large immediate liabilities which stood in the way
of an. early resumption.
Indeed every facility was promised and extended which the limited
power of the Departmeiit permitted, and on its recommendation further
. riieasures of reasonable indulgence to the merchants and banks indebted
to the Government received the prompt attention of Congress, and doubt- •
less contributed much to shorten the suspension.
Underthe laws granting such indulgence the aggregate of merchants' 'bonds the payment of which was postponed is supposed to have reached
between four and five millions of doUars. The chief benefit of this
rneasure was felt in the Atlantic section of the countiy, while a similar
extent of relief was experienced principaUy in the West and Southwest,
by the allowance to.the banks of a long delay in paying the. balances
due ffom them.
The curtailment of paper issues which was urged by this Department
iri 1836 as indispensable to prevent impending disasters, and in 1837 as
equally indispensa.ble to remove them and restore specie payments, has
since their suspension equalled at least thirty miUions pf dollars. Another striking fact is, that the curtailment was most rapid and thorough
iri those sections ofthe countiy where the resumption of specie payments
first took place andthe exchanges were first equalized. [See a comparative table annexed for each section of the country between the 1st- of
Januaiy, 1837, and the 1st of Januaiy, 1838, (F.)] The difference is
believed to be still more striking between May, 1837, and May, 1838. .
Nor has this event been accompanied, as many predicted, by any ruinous
fall in the piices of labor or of our great staple commodities. As a :
further illustration,of some pf the real causes and cures of the embarrassments in the currency, it is computed that within a year from the
suspension a reduction was effected in bank discounts exceeding forty
millions-; that there, was an increase in the whole amount of specie in
the countiy of five milhons; and that the aggregate at this time must be
from eighty-five to ninety millions of dollars. The official fetufns of the
imports and exports of gold and silver duiing the year ending September
30, 1838, are given in the table annexed, and the former in that time
will be found to exceed the latter more than fourteen millions, (G.j
Intimately connected with the currency and the. suspension of specie
payments is the condition ofthe domestic exchanges duiing the past"
year, as compared with some former periods. Although in 1825 .a
national bank had been in full operation for several years, and in. 1819
for two years, those exchanges were theri quite as much deranged
between most places as in 1837. But of late they have improved/more
rapidly than in the two former periods, without receiving any aid from
new banking incorporations by the General Governnient.
; • .



1838.]

SECRETARYOFTHETREASURY..

191

This fact demonstrates that the great nominal difference in exchanges
at both periods has been produced by circumstances over which national
legislation possesses but little influence.
When excesses of indebtedness, or other commerciaf causes, render .
money more desirable in one place than, ano ther, then, and not till then,
the legitiri^iate difference in exchanges begins, and that difference can
never be corrected by banks or legislation, but only by the great lav^s
of trade changing the relative indebtedness and demand.
But, when a nominal difference in domestic exchanges occurs, extend- •
ing beyond two or three per cent., or the small actual cost of transporting
specie to the most distant cities in the Union, it is the consequence not
of an unequal indebtedness alone, but of that and an unequal quality or
value in the local bank currency, and which event has been produced
and can be removed only by measures operating on the soundness of
that currency. Each State has in its own, power an effectual reriiedy
for any suffering by high exchanges from this source. Independent, arid
true to its vital interests, it can always adopt such effectual regulations
in banking as will remove the scourge of a depreciated paper, and thus
avert any ruinous rate of domestic exchange.
From the whole of these considerations it is manifest that the recent
resumption of specie payments and the equalization of exchanges have
both been facilitated by the large amount of specie which has of late
years been introduced, and the course of policy pursued in other respects
by-the General Government on topics connected with the circulating ^
medium and the banks.
.
.
' ,
A restoration of equality in the •foreign exchanges, also, and a perseverance in extinguishing old debts, with increased forbearance to contract
new ones, either at home or abroad, have revived that foreign confidence
which had been withdra\vn with such disastrous precipitation. These
favorable changes, united with a diminution in speculations, whether in
banks, lands, or commerce, and a return to stricter frugality in individual expenses, and to more industrious energies for a Uvelihood, have,
aided good crops and some minor agencies in bringing about, with
greater rapidity,"events the most.desirable, and.a condition ofthe countiy .
highly auspicious. In many quarters money has become comparatively
abundant, interest lower, and trade and manufactures active.
Nothing more spems to be necessaiy to perpetuate the- present healthy
action of the eurrency, except a. rigid adherence to the system of policy
^ which, by honest and resolute efforts, has pioduced the improvement. It
cannot but be wise, in respect to the circulating mediurn, for the General
Government-to persevere in a course which prepared the countiy better
to meet, and quickly carried it through, so fearful a,crisis. It would seem
prudent, likewise, fpr- the States, profiting by past experience, to insist
on reform in their banking institutions, and particularly on greater selfdenial .in their business, by imposing' additional checks on overissues,
and stronger limitations to excessive discounts. The present system, if
unchecked, has. inherent defects of ari alarming character; and, without,
indulging in timid misgivings or unjust suspicions, it may be said to tend,
by its expansions and inevitable contractions, to unsettle frequently the
yalue of labor as weU as of the whole property of the country.



192-;

/V \

- E E P O R t S : OF T H E

[1838:

. . vthe'•'.Ge'nera^^
sState" Governnients; might,, also,, with- manifest
adyaritage,- ;abstain from applying-any stimularits to the overaction of aU*^
kinds, -that, under .such specious but treacherous- hopes,-.delude'd-..so mariy
iritP^the^tecenterribarrassnients. - / / . ; , .•>' 'fi ... " • '.'
;• This "would not; evifice; -any hostility either to" banks o.r to credit, when weiU;secured;arid'^pfbperly re
; but would" serve to -avert ruiri.from"
'bbth/'^ ^^-\'\'

•;.;;•':'"--•/.^:' • : f i ^ -

';'• "• '"•"•-.;••^'

..

•^\•

"-'."

" ..••':

•'.• ; . ' - " •;'

. Several of the "bariks^ which arP.-under-the contiol of real capitalists:
arid pfEcers .of prudence and foresight, have.become satisfied t h a t the
useo'f the publip ifioney fpr; discourits; subject -to the -restrictions of the^.
preserit deposite act arid ;the habi-lities-tb 'relurid." it-suddenly which must"
ex:ist with ? a • sinall; b.alance/iri :'the"- - Treasuiy,;' is attended .with much "
iriepriyeriienee;' --and. is'likelyy. iri .the end,'^- tO: 'prpve. inore injurious than
vpiofitable -to" therbanks .:an'd "their bprrowei^, as well as• to,the Govern^.-'
ment. ;• Sb. wid'ely impressed /has this.; conviction - become, that some .pf'
•
those institutions > have decliried to receive• public deposites- "under: the
special pfovisibris of thatact^
•.'/..•"
' .
' •
y i l l . ON T H K M A N N E R OF . K E E P I N G .THE P U B L I C M O N E Y , A N D T H E '
/•• -.;;"€HANG^-S'" ; P R P P 0 S E D . ' ; . . • • - " • ••.

•The present laws .iri .i'egai:d.:to.'the keeping of- the public money aio
deleetiye: in seyeral paiticulars; .which -^^^
in the last two-:
reports^biitheiinariCes. • * .'•; . • - / . / • * •
• . / / " • ./";
•" " :.".;"'
' t h e ; fuU advantages, either of .the system;bf State- bariks or the pro-posed one of .'a,nlnd;ependeri tfeasuiy, are -not-now. enjoyed'; while the .
Depaitment,.w'ithput-.allthe•se.bri-iities which are pfaCticable, is subjected
to.some.Pf theinc6nveriierices/and.in^^^^
risks atteriding 'both.
t h e measures it wpuld reconimeri.d -'as/nipst : suitable :to .reriio'"ve the''
vaiipris iriiperfections .which.'exist pri-this subject; have.be'eri so'feceritly
.arid- fully: explained,, that a recorisideration of .them alf at this tiriie
. carinot'be-regarded.-as
ri^
• - .•;;•:...' • v /
•.....:.'
i t i s deemedpfoper,.howeyer,/^ .comriiuriicate-to'Cdngrpss such"details '
as/aio iriatefial/fpr.n
the inode in ••which the...
public-rnorieyis riow "kept; arid.fo-iva^^
duly-the •impbrtance of
those additional checks ;arid securities v/hich;.thbugh .'pio^^
bf^thp-plari for an^^^^^^
appeiar: to' be; irnperatively
reqriired under, any-systerri. •' •/ ••.---; •;.•." •' • //- ;• ." " .
' •" ;- •
Four- pf the. six banks .reported "at the last sessiori" of-Congress; as "
'
retairied. under the .deposite act of June/ 23,/1836,; stiU cbritiriue t p b e
general :depositoiies:. -Of the. Other;tyro, the/P^e^
Banl< at .Bangor airid
thp Lp.uisyille Sayings Institution, the .-forriier has. -surrendered its chaf ter,
. arid the lattef,'haying declined the general trust," is.ripw eniployedmefely
for spebial deppsites..' Thenari^esof^the four-banks retained-are arinexed;
with- thp ;ariio.urits; iri each- 'subject: to" draft- pn the 1st instant, (H,) "and
their .cpiiditiori genefally, (1.)/...Collectpf s arid receivers; residing near to •'
. theseiristitutipn?; have continued to deposite in-therii.as formefly." Drafts^;
are.seldb.rii made "directly'on-pffiGers; so •situated,'nor-aire ariy consider- .'
able ariiiourits^ pf: publicirioriey" Ibiig retained "by thprn. "At* points where/
other general depositorieswefe rioed'ed, the Pepartment has not yet


1838.]

S E C R E T A R Y OF T H E TREASURY.

193

been able to complete arrangements with any .banks which were both
competent and willing to be selected.under the specific piovisions of the
deposite act.
^
, In many of these last cases, therefore, the. practice has been to leave
the public money with the officers coUecting it, to be held in their own
custody, or placed in special deposite in banks, during the short period
which might elapse before it was wanted, and drawn from them by drafts
in favor of the public creditors.
.
.
.
A list ofthe collectors and receivei^ from whorii the moriey has generaUy been so drawn, and who had any amounts on hand subject to draft
the 1st instant, is annexed,, (J.)
The rest of those classes of offieers, who'have collected funds beyond
the srifns needed to defray their current expenditures, ,and who were
not conveniently situated to conform to either of the above arrangements,
have been required to intake deposites of the same in banks to the special
credit of the Treasurer,
./
Other funds received from the exchange of Treasuiy notes, from collections by attorneys and marshals, from patent fees and misceUaneous
sburces, have also, in most instances, been placed in banks to the oredit
of the Treasurer, in special deppsite, exeept such amounts a.soould'
advantageously be put into the Mint and its branches, for the only two
purposes authorized, in the laws on that subject.
'
An exhibit is presented/of the names of these special depositories,
w:ith the sums in each. The amounts retained in the Mint and its
brai:iches underthe provisions of those laws, are subjoined, (Ki)
In the absence: of suitable general depositories, some money, due from
certain State banks, has been aUoWed to rpmain in deposite to the special
credit of the Treasurer, till it was warited for public payments; they
being, under all thp cifcuriistanpes, considered proper: depositories for
that temporaiy purpose. , A schedule of these bariks, with the suins remaining in each subject to draft at the last return, is annexed. (L.)
But this systerii of special. deposites, or of deposites to the special
C:redit of the Treasuior, has, from convenience, and .indeed almost frorri
riecessity, not generally corresponded with the usual forrns of special
deposites.
,
A moment's reflection will show that any/deppsite. not subject to be
paid out by the banks in the absence of the depositor, though at times
convenient for officers living near banks, would cause much inconvenience
to those residing remote froni them;- and that the niaking of frequent
disbursements from it by the latter would be-utterly, impracticable. The
Treasurer, in common practice/shQuld^ retain his. fuiids orily in such
condition as wUl allow them to/be paid out piomptiy on the numerous
di^fts which must be made in favor of clainiarits in eyery section, of the
country. For this puippse, when a .deppsite of them is. rnade, it must
be general, pr, if special^ it must be with an understanding or contract
not only that they are to be ready for his call at all times and under aU
circumstances, but that they are to be paid, out on his various- drafts
without his actual presencci
From thesfe details it is apparent that the present systein of keeping
the public nioney is very comphcated, and it may be deemed fortunate
VOL. IV.—13.



194

/

R E P O R T S O F THEV

[1838;

thatthe Departrnerit has beeri able duiing the past year to conduct large'
- finaricial operatioris under it without great public inconvenience. . F e w
persons can doubt that some change in the laws on this subject is proper.
But whatever plan Congress rriay adopt^^ too /great care cannot be exercised in pfoviding -the best possible securities. All those. additional
guards against defaults which have been urgeritly recommerided in'the
last two reports on the finances, or incorpora:ted:irito the bill to establish, an:
Independent Treasuiy, are considered important. Recent experience in
respect to the' benefits of only brdiriarycollatei'al secuiity evinces the
utihty of such Irieasures. * '; '; " ' Thus the losses expected to be sustained from deposite banks siiice=
1834 are very Small in compaiisori With those sustained between that,
period arid 1817, t h i s , in a considerabledegree, is to be attributed to the
additional requirements of such security.
^
The impioveriient was voluntarily introduced by the Department in
1833, and was afterwards sanctioned by Congress in the deposite act of
• 1836., • ,: : •
;••. •' - ••."• -•". • . . • " "' •: ;:-•
T h e measure insured greater care in the management of the banks,
and an iricreased watchfulness by the. sureties in times of difficulty, to
take efficient steps to indemnify the Treasuiy.
With a view. to illustrate further the effects of requiring CoUateral
security, in cases both of banks and collecting, officers, as. well as= to;
corrimunicate interesting facts in connection with-the safety of keeping
the public money from the foundation of the Government,, several tabu-lar ^tatenients, prepared by the Depaitment, are herewith presented.
* . F.irst. A list pfthe banks still indebted to. the United States for defaults
] previous to the close of 1834, none of which are believed t o have given, ^
^
I oiigina:Uy, any collateral- security,, is annexed, (M.) The whole amount
I now due, without coniputing interest, equals $1,000,676; and a great\ part.of this must be regarded as atotal loss.
'
Secondly. Another list of indebted banks is arinexed, mpst of which
: gave collateral secuiity, (N.) The reriiaining/dues fiom. them t o t h e
I •treasureron defaults accruing between 1834andOctober, 1837, though^
\ at first very large, have been reduced to about $2,400,000,. and most," if
I not all, of these debts, with some others owing to public disbursing
I officers for money on deposite, it is cbnfidentiy expected will iri the end
\ be paid.
.:
• : The first instalment due from those which have since executed other'
bonds and given new security under the act.of October, 1837, has beeri• proiriptly met, and portions of the second have already been advanced
by som.e of them. Suits are pending- against. pnly two on account of.
their habUities.
- •
;
'
\ Thirdly. The eventual losses sustained from receivers and collectorSj
while, as a. part of the: bank deppsite system, they Were Collecting the
public funds, to be afterwards placed for safe keeping in banks, were
atthe last session estipiated at a sum ranging from $900,000 to $1,200,0.00.
(See printed repoit t o . the' House of Riepresentatives, 28tli. Febmary, •
1838,.No/101.) ' • .
• \
^ :.^•;••-•
..,• 'y ••
•
CoUateral security had generally been taken of these officers; but m
fofmer.tiines it was not^ always in-so large amourits and with- so greats



1838.];

SE CRETARY OF T H E TTIEASURY.

195/

cafe as of late, arid consequeritfy^ raost ofthe foregoing Ibsses happenedmany years;ago. " .' . . •
" "•' . •./"• /.,' -;'
•: ^/'•/':/''•'•"'.fi-/
A hs'tbf all those officers whobn the 12th of October, .1837, tHe,t^^^
desigriated in the res6lution of the House of' Representatiye.s, stood on
the books of the; treas.ury as hayiri'g neglected tb settle, their accbunts/
in season, iriay be seeri, with the aniount.charged to.each, in thppfintPd/
repoit made on. the/:15th bf January last, (docuirient No. 111.) /But
. several of these were not then actually indebted to the United States, '
though, having rieglected 'to adjust their accounts at; the Treasury, they,
dairie within the express Words ofthe resolution, and consequently wefC;^
included. Some defaults have occurred, or been discdvered since Octo-,
ber, 1837; but it is riot apprehended that any losses will ultimately be?
sustained from them' /except in the 6ase of the former coUector of New
York. That case has been recently detected, arid the defalcation's afe >
supposed to have been continued for inany years, and to have reached;
a large amount. From their character,, they could, perhaps have been/effectuaUy prevented only by penalties for false returns, a system pf cash.
duties, and personal inspectioris of rrioney and vouchers, with piinishriierits for misuse of the public furids, similar to what was urged in. the;
reportfrprrithis Department bri the finances in September, 1837.. It is/
iiiterided tp riiakethe particulars of this case the subject of a;special
report to the President fof the consideration, of Corigress.
:; •
TheTequifefneritof collateral borids has undoubtedly diminished hianyv
of the losses before mentioned. But notwithstanding every precautibn/
arid secuiity heretofore in. force, the whole of.these :defaiilts, whether."
by collectors, receivers, Pr bariks, have/occurred, urider the old systems;
pf iriaking deposites in a Uriited States Bank or State bainks for safe'
custody." .; . '
. . • '
\ •'• • • . •;':
-Under either of those systems, if unreformed. Congress must continue:
to ernploy officers to collect-the public money, as. well as banks to keep:'
it after collected, with.all the former risks arid piobable losses inciderife
tb both classes of agents. But the .proposed plan of an Independent
treasury, with aU its checks and giiafds, will; diminish the • nuniber of'
fisks, arid tend,, in several lospects, to strengthen the public secuiity.
By recjuiririg the officers now employed in colleCtioris to hpld most of
the irioney. for a time in deposite, it/adopts prify a part: of the. agents
under either bf the former systerns; arid hence, dispensing with;the
banks, unless it may be for a few stiictiy special deposites, avoids most,if not aU, pfthe risks/and" losses, which have been sustained from that
class of agents/.:*.
: ;.
.
. / : •' . .* fi-'
. It is true that,'under; this plan, it is conteriiplated to iriiposC on collect-:
ing officers the duty of keeping somewhat.loriger in a few oases, arid in
sums somewhat larger in others,'the irioney which, under the other systems sirice 1789, those officers haVe coUected; and. three or four nevir
officers/areprpposbd to be established, to hold gerieral receipts iri^
deposite at a few central .points* •These changes are all the iriateiial
ones which have been recQiririipnded on this point. .But to. increase the;
publip security uridef/all duties/newof .old, as;we]l aslhose of any new:;
agerits, aniple bonds are to be reqiiired; occasional examinatipris of their
funds and accounts of a h e ^ and rigorbus.chaf acter iritroduced..l^./^^^^



im

/;

R E P O R T S OF: T H E

[1838.

ufee of the former strictly prohibited;. ..and new and severe penalties
should be iniposed on fraud, falsehood in retums, and .eriibezzlementsy;
by rendering them ppniteritiaiy offences.
Honest diligence can never suffer, by these changes, while careless^
ness in; business arid laxity of principle will be preverited, or exposed
, arid, propeiiy rebuked.
Additiorial safeguards like these are alsp of vital importance in a
moral view;, by more effectually preventing as wpll as punishing -Wrong.
They are, therefore, earnestly urged again on the considefation pf
Cpngress. Whether looking to furthef security or other important ends;
one of the rriost desirable alterations .which is incorporated intp the plariof an-Iridependent TreaSuiy provides that any use of the public nioney
for private purposes be -hereafter considered illegal and punished as a.
dangerous breach of trust. The experience of the last few years dem-*
oiistfates the propriety of such ari organic change in our system, whoever
and \vhatever may be the fiscal agents employed. The change, so far.
a'S respects inere coUecting or disbursing officers, will have * a decisive
teridency to preserve not only the Government, but them and their securities, from those losses which i t w a s never contemplated they should
hazard by iriaking loans or speculations witb funds held in sacred trust
for purposes entirely public in their character and constant i n t h e i r
demands. H a d such a pfoyision been adopted early in pur legislatiori
doubtless'it would have prevented most, if not all, of the. losses heretofore-sustained from those classes of officers, and much Wretchedness
which has befallen both principals and sureties. Some of the earliest
acts of Congress wisely prevented officers o f t h e customs and o f t h e
Treasuiy Departriierit froni being concerned in cpmmerce or dealing in
the public lands or public stocks. These restrictions Were doubtless
introduced chiefly witb a view to remove the temptation and hazard
incident to the possession of the public money. But the prohibition to
employ that money for private purposes, under severe penalties-, has not
yet' been intioduced, except in substance iri the Mint, by making eriibez. zlements there punishable ;as felonies. Its expediency has been urged
b y the Department heretofore, and. seems .confirmed by experience as
well as thebiy. The success of such a provision in the Mint, where no
losses-fiom its estabhshinent. to the. present- irioment liavej forsp rnany
' years and after having the custody of so many milhons pf money, been
known to oecurf is a very strildiig illustration of iti efficacy.
Finding that^riP new act on t h i s a ^ d spme;siiiiilar points-was passed
fey Congress at its late session, a cii;cular beaiirig on them was issued
b y this J]^epartment feoon :aftef the a^djoufrimpnt; -a copy of \diich is
' annexed, (O.) .
. - In,regard to deposite agents, heretbfpre consisting chiefly of banks;
the change fromHformer usages which would be iritroduced by such a
pfohibition^would be gfeater. But.the preserit coriditiori of the Ti'easury
;and of the coriritry is highly auspicious-ibr the reforin. .Diminished'as
is the balanceof the ,ptibiic money now pnihand, and riiariifest as is tbe
policy of the Goverriiiierit to keep it .so bef eafter, the apparent pecun^^^^
disadvantage caused pither. to "thP banks of thpif PustPriiers would be
s%htertMir at toy fornier period.
^^
^ . :



1838.]

S E C R E T A R Y O F T H E TREASURY.

197

In the mean time, and under the speculating mania of the age,-the
alteration Would yield a most valuable protection against the recuri-ence
of disastrous adventures, so far as stimulated by the more easy loans of
•such funds through bank depositories, and against the consequent losses
to the institutions themselves, as w e l l a s bankruptcies and misery to
numerous •individuals.
Above all other considerations in favor of this cbange, if we adveftto
•sound views in political ecbnomy, will be its influence in removing every
teniptation to the dangerous disposition to increase taxes or revenue on
account of their incidental use for assistance and capital iri private eiiterprises. It would also restore official practice to the: true theoiy of the
-Constitution, which, in its primitive purity, must undoubtedly have
intended that the public money should be coUected. solely for publie
purposes, and should be kept not for the emoluments of iridividuals or
icoi^porations, but for the single object of meeting ;with promptitude and
fidelity the obligations of the Govemment.
OriginaUy the departure in practice from this theory was riot in any
case, even in implied terms, allowed by Congress. : It was -permitted
only bj;^ early construction of the Treasufy Department, and ;in relation
"to deposite banks alone, for the benefit, through them, of the mercaritile
interest, whicb constituted their principal customers and owners. But
^ince the'extinguishment of the national debt, and the accumulation of
: large balances in the Treasuiy, this departure has'been'expressly saricitioned by Congress in the deposite act pf 1836, and has tpnded, very
undesignedly, without doubt, to place the .Government in the inyidious
.attitude of a great money-lender; of its currerit funds rather than of a
surplus, and that for the apparent benefit, not of public bodies; such as
States" or of all persons equally, but of iparticular corporations and
.particular classes of society immediately connected with them. Besides
this, t h e pubhc servants, however scrupulous, have tbus, become exposed
:to the grossest imputations of favoritism, partiality, arid corruption, in
;maldng these indireet loaris. A radical change-in the system in this
respect is therefore very desirable, and by preventing any individual
br corporate eiriploymerit of the public money, would render both the
possession and the superintendence of it, which are now objects of just
jealousy, but mere naked powers, and, by their great responsibility,
.dangerous only to their possessors. They would^become entii:Ply
useless for either political influence or piivate •emolument, and cbuld
contribute nothing •tothe depraved appetite of'the age for power and
-speculatiori. .
'
.
But important a s a r e the eventual safety of the public moriey, and
purity of character in its management, ;it must be. manifest from the
rerriarks already made, and from the warning events of the last two
years, that legislatiori should look npt only to them, but much further:
Recent occurrences have shown that the whole treasure ofthe United'
States when intrusted to banks, is hable in critical periods tobe swept at
.once fiom the use and coritiol of the General Goverriment,
;
t h e good faith of the Union, may thus be suddenly placed in extreniP
jeopardy. Indeed it will be fortunate if the accumulated, ills of a brokeri
pubhc credit throughout the land are not actually added, and are not



:i98

;;'.

REPORTS OFlTHE : i :

.

[1838.

cyisited. on -the labor and pursuits of the whple people. .Tt follows^, there. 'fore, (though banking institutions have never bepri regarded .by the/undersigried .as a class of agents generally urisafe, when looking. to ;eventual
•losses, arid, though the additional securities and pfohibitions before men^tioned .riiight be incorporated, intp some system of bariks, but >yith less
facility than into the plari of ari Indeperiderit Treasuiy,) that the-great
>arid wide-spread danger experienced pf late from the eriiploymerit of
banks as fiscal depositories is one which, ought if possible to be avoided.
Aiising. as it does from their liability to a general susperisipn of specie
.paymentSjthe individual offieers who hold money in deposite are exposed
t o rio such calamity; and when the recerit susperision/happened,.the
jspecie.in the possession pf many of therii prbyed exceedingly seasbiiable
and useful iri discharging the,pubhc obhgations in the manner iriiperajr
tively required by law. ; Though/an apparent sebuiity against SPmp of
the irioitifyingembarfassriients resulting fiorii such a general susperisiOri
might be obtained by adopting.a systein of special deppsites, yet iri prde
to rerider such deposites conyenient in fiscal opefatioris, the bariks must,
as.heretofore, explairied j have access to the funds, and.be tempted in an
emergency to use them. The chariges which . have been prppospd in,
keepirig the.public money by an Independent Tfeasuiy would..entirely
obviate most of these"dangers.
.
,
•..
. ' If iridividual agerits weioc.hie% employed J if the' several checks arid,
-securities proposed were; adppted, and i f the use pf.the public moriey
•for ipiiyate purpbses were prohibited under severe perialties,;candGf must
•coricede" that. there would. be •inuch .less, tendency to any.of the .eyils
he.fetofpre described, arid, none to the greatest of all .disasters iri:.fiscal
•agerits—^a general refusal;to meet their liabilities in a legal -manner. / .
/No cause either^ for special favor- or/hpstility between the bariks arid
the Governrnent would then exist. Withput any alliarice pferisive,p
defensive between them, ;aii appropriate and occasipnal .use'w.ou.rd. .still
b e m a d e of the bankS; by the Treasury, a:,s is d;one by others, wheneyer
eprivenience should require it.: /Brit; neither party would be forced into
;a species of vassalage-i—a coristarit,• necessaiyr;anddependeritcorinecti^^
whichin' the recerit'crisis/h.as been-found ript only ppiilpustQ,pubhc credit
but derbgatory to piie of the paities,. and .subjectirig both to 'cbritiriuejd.
imputations of those uriworthy influences sp disreputable to the comrriu-.
nity as well asv the Gpyernment.
*; •
^ ;/ .
; Ori the wriplcjit is apparent that the systein of anindeperiderit t r e a s u
is mbre plain: and sirnple iri :its;aiTangeirients thari any .bther, .arid much
riiore accordant with that .originally in use after the adoption•of:tbe,,Gori•.stitution.:' ; -.., •
.•;. . . •' . ,• ^ - - .;^.' . /. ..,; •fi/-'.'-'^fifi'. " f
it: is.truer to the spirit of that saciodinstrument, and those eleineritaiy
.self sustaining.principles, wh^^ belong to aniridepisri.dent gbyerniri;erit. V
I t is more ifee froin seyefal formidable: dangers'; 'and Und.er the/.additioiial'^guards arid'restrictions prbposed.^is. likely; to unite all attairiaW^
security-with effipiericy:arid/pufity imthpjcustody of the public
//
In fine, ekperieriee.has furriished!satisfactoiy pioof that.the collectirig
officers pari iri most places keep, arid .disbursfe^^^^
pubhc
duesy withput great; iricpriyeriierice; and that the exclusive er^^
; pf:bariks;as.deppsite ageritsithough nbt ipgafdcjias/cpriiparativply uri



.1838.]

S E C R E t A R Y OF t H E TREASURY.

199

in relation to eventual payment, has proved embarrassing'and dangerous
in other respects, andis unnecessaiy, provided a.few additional receivers^
and the additional regulations, checks, and securities which have been
urged in respect to collecting officers, are adopted. • .
.

.

IX. pN, SEVERAL MISCELLANEOUS MATTERS.

; /Separate reports, will soon b e m a d e on various other matters ofpublic
interest confided to the charge of this .Department.
. These will include one on the progress niade in the manufacture of
weights and measures, arid their distribution among the different States
and custom-houses, as well as on the important survey of the Atlantic
coast of the United States. Another will be submitted.on the erection
and discontinuance pf light-houses; and others on the affairsof the General Land Office, and the Mint and its branches. .
Since last Deceniber the sixth instalment due: from'France, iand the
fifth fiorii Naples, for indemnities, after being purictually paid, have been
transferred to this countiy, and distributed among the claimants. Notice
has also been recently received that the arrearages of interest due from
France upon the first four instalments have beeri paid, and the amount,
exceeding a mUlion of francs, will forthwith be adjusted with those entitled to it.
'
' , . • ; •:..
.
The Smithsonian legacy, ainounting to iripre than half a iriillioii of
dollars, has been received arid invested.. For particulars., reference can
be bad to a special report which will .be made tp the President and laid
before Congress, under a resolutiori. of the House of Representatives..
At an early day it is iritended to subniit to tha.t House ayaluable
collection of facts, in compliance with its resolution calhng for information concerning the number pf steamboats, locomotiyes^, and other
machineiy moved • b y steam within the United States, as well as the
causes of the explosiori in steain-boilers,.and various matters connectpd
with that interesting subject. . /
. •• >
Such other questions of minpr importarice as have been referred to this
office will be answered as eafly as practicable.
It is hoped that the uridersigned will not be regarded as too importunate if he again.expresses.an earnest desire for a roorganization of the
t r e a s u r y Department..;.
/ With some slight changes, rendered proper by riew legislatiori sirice
1835, the less complex and more efficient systerii at that time recomrriended: in a separate report would be.a great impfovement...
That portion of it proposing a separation pf the duties of Commissioner
of the Customs frorn those of comptrolling accourits, and requiring the
undivided atterition of one bureau to each subject, is bf the niost pressing
impprtance, arid would greatly conduce to promptitude, exactness, and
skill in the respective business of each.
An alteratiori in the cpmmericeirient of the fiscal year, and a revision
of the number and compensation of custom-house officers, and also ofy
several laws connected with the collection of the imposts, are measures
StUl as desirable as when.they were heretofore submitted to the consideration of Congress. Some legal provision on the subject of return



260

'

R E P O R t S OF t H E

[1838.

duties, regulatirig the mariner of keepirig therii while under protest, arid
the mode of repayriient, is necessary to remove doubts arid prorriote the
public securityi The employnient of more boys in the merchant service
is in some degree connected v^ith the customs, on. accourit of its teridency
to afford additional piotection to tbe lives and property engaged in commerce, as well as tb improve the morals of maiiners and prevent sriiugghng, mutinies, and piracies.
t h e encouragemerit by law of such ari acquisition to the riiaririe of our
country by soon bringing intP active usefulriess a class of intelligerit,
virtuousj and able seamen, would tend materially to avert some of the
nuriierous evils from that quarter which now bear upon coirirriercial
Pnergy and prosperity.
RespectfuUy, yours,
L E V I WOODBURY,
*• •
Secretaiy ofi the Treasiiry.
Hon.

R. M. JOHNSON,

Vice Fresident ofi the United States, and President ofi the Senate^

L I S T OF DOCUMENTS.
1.
2.
3.
4i
5.
6.
7.
8.
9.
lOi
•
11.
12..

13.

Expenditures of the first three quarters of 1838, marked A/
Statement of iiripbrts and-exports for 1838, marked C.
Circulars as to the kind of money receivable, D and Ei
Cpfriparative tableof barik circulation, F..
Imports and exports of specie in 1838, G.
Amount subject to draft in deposite bariks, H.
Condition of deposite bariks, L
Arriourit subject to draft in the harids of Collectors and receivers of
public money, J.
.
List of late deposite banks employed as special depositories, with
amount subject to draft in each, K.
;
List of banks holding public riioriey iri special deposite derived from
debts due by banks to the United States, with the amount in each
subject to draft, L'.
.
List pf baiiks in default previpus tP 1834j and the sums due frorii
each to theUnited States, exclusive of intefest, M.
List bf banks selected, as depositories urider the act of 23d June,
' 1836, which gave bonds for the suiris of public money h e l d b y
them on taking the-Credit authorized by the/aet of 16th October,
1837j and the suriis now due from each, N.
Cifcular respecting the safe keepirig of the public moriey^ issued ori
the adjpurnmentbf thelast sessiori of Gongress, O.
•




1838,]

S E C R E T A R Y OF T H E TREASURY.
A.

. . /

201
.... ....

•"

Statement ofi Expenditures ofi the United. States, exclusive, ofijhe Trust Funds^
from 1st ofJanuary to 30th ofi Septemher, 1838. .
CIVIL, MISCELLANEOUS, -AND FOREIGN INTERCOURSE.

Legislature
; . . . . . . . $893,808 20
Executive Departrnerits
.->..,
.
658,540.72. , „
Officers and clerkspfthe Mint arid branches.
17,194 78
Surveyors and their c l e r k s . . . . . . . . . . . . . .
33,377 92
Secretary to sign patents for public l a n d s . .
1,979; 17
Commissioner of the Pubhc Buildings..-w * 1,725 00
GovernmentsintheTef ritories ofthe United.
,. .
...
States
.....i..
54^305 71
Judiciary
...^...
: 298,117 92
'•—
$1,959,049 42
Sundry annuities, per acts of Corigress....:
900 00
Mint e s t a b l i s h m e n t . . . . . . . . . . - . . . . . . . . . . . . . . . .81,115 22
Support and mainteriance of light-houses, &c 249,814 36
Btiildinglight-houses,&c................'
103,129 89
Surveying the coast of the United States....
62,691 82
Surveys of public lands . . . . . . . ; . . - . . . . . . . .
83,793 46
Registers and Teceivers of land offices
.
750 00
Keepefsof the pubhc archives in Florida . 750 00
Repaymerit for lands erroneously sold
18,729 31
Maiine hospital estabhshment. 1 . . . . . . . . .
83,653 00
Marine hospital at Mobile
:. /
4,000 00
Roads and canals within . the State of ^
./
Indiana
....i.......
16,000 00
Roads and canals withiri the . State of Mississippi.
j:.
' .--.'..L: . . . . . . . . . . . . '
"5,900 00
Roads and canals within .the State .of
Michigari . . . - .
....-..-..... .v.
4,994 96
Furniture for the President's, h o u s e . . . . . . .
678 27
Pubhc buildings, &c., in Waishington.....
201,858 50
Penitentiary in the Distiict of ^Columbia
.. .7.,000 00
Completion bf the Alexandria c a n a l . . . . . . . 75,000 00
Rehef of the several corporate cities in the
District of Columbia.
"...
..
.56,370.99
Building c.ustorri-houses arid warehouses.. - -165,375 17
Documentary History of t h e Revolution.... >--20,000 00
Rehef of sundiy individuals . . . . . ,
....
92,485 09
, Payment for horses, &;G.- . . .-.^....
^..:
2.8,456 67 .
Additional compensation to collectors, &c.."
54,404 04
Debentures and other . c h a r g e s . . . . . . . . . . .
315,181 06
Patent
fimd.....................,-.-.....
30,267 Q
O •
Registers of ships arid vessels, -and lists -of
crews
.........^........
. . . V . , - 4,000 00 _ . .
. 0



S02

/

; RiEPORTS OF T H E

1/1838.

Expenses incident to issuing Treasuiy .
notes- . - . . . . . - . . . . . : . . . . > . - . - . . . - . . . $10,661 85
Rehef of certain inhabitants of East Florida. I l l ,558 25
.;MisCellaneous . . : . .
:.'••.. :••.'.''.........;.
15,512 69.
-$1,905,031 60
Salaries of Ministers of the United States...
28,500 00
Salaries pf Secretaiies of L e g a t i o n . . . . . . . . . : 5^500. 00
Salaries of Charges d ' A f f a i r e s . . . . . . . . . . .
34,316 44
Outfit and salary of diplomatic agent :to, .. .. ^ =. . . . . . . . .
Texas
. . . . . . . . . . . . . , . . . . . . , . . . . . - . . . , ; . . . . . 2^361 89
Outfit of Miriister of the United S t a t e s . . ; . . . ' 9,000 00
Outfits of Charges d ' A f f a i r e s . . . , . . . . . : . . . . . 9,000 O
O
Contingent expenses of missioris abroad, i ;
11,669 20
Salary of dragoman to Tufkey,.and coritin- '^ '
gencies.
,
..;......;.....
1,64776
Coritingent expenses "of fof eign intercourse:,. „ ...11,272. SO.
Salaries of Consuls at L ondon.and : P a r i s . . . .., ;.4,000.00<
.Rehef arid protection of American seamen.
35,711 91
Allowance for clerk hire, &c., Americari .
consulate at London - - - -- . -. -.. .2,573 05
Intercourse with; Barbary P p w e r s . . . . . . . , '
6,137 81
Expenses of commission under convention...
with the Queen of Spain. - . . , . . . . . . . . . . . . . .
.2,577 85
Cafr5ring into effect the 4th..article :;of the, . . . .
•
treaty with Spain
. . . — . . . L.'. .'.:.
1,324 40
165,593 11
;

PUBLIC DEBT.

Interest on the funded debt- - - . - . . .
. . ...; 1,001 81
Redemption ofthe 3 per cent s t o c k . . . . . .• ' - /pl5 27
Reimbursement of T r e a s u r y . n o t e s . i s s u e d . . . . . . . . . . . . . . .
per act of 12th October, 1837. .^......... 4,279,490. 48
Reimbursement of Treasuiy notes. issued.. ». :
: ... .
per act of 21st May, 1 8 3 8 . . . . . , . . / . . . . . . 52,151 82
Interest on Treasuiy riotes issued per a c t o f . , . , . . „ . . ,
12tii October, 1837
.,.....,....;.
7,693 43
Intereston Treasuiy notes issued per act of •
..
21st May, 1 8 3 8 . . . . . . . . . . . ; . . : . . : . . . . .
104 91
4,340,657 72
MILITARY ESTABLISIIMENT.

P a y of the A r m y , . . . . . . : . . . . . . . . . . • . • . . .
951,899 89
Subsistence of officers . . . . . ^ • . • . . . . - . . ; . . . . .248,550 81
Subsistence departments.
...... ^....-.,, -. /608,966. 55
Quartermaster's departmerit............,.......,....; 287,159. 30.
Incidental expenses of the quarterrnaster!s .
d e p a r t m e n t . . / . . . " . . . . ' . . . . . . . . . . . . . . . . . . . . ; . ; 71,702 ;35'^
transportation of officers' baggage... -....;.....;.. 40,547 64
Transportation of the Army..:. / . . . , : .•...... 188,562. 54
F o r a g e . . . . . . . . ; . . . . . J . ' . . . . . . . . . . . . . ^...'......... ^ 40,387 M .



.1838.]

SECRETAIIY OF T H E r T R E A S U R Y .

203

Purchasing departnient,. , ^ , v-^,^ : . . . , . . / $438,024 70^
.
/ /;
Payments in lieu of clothing for discharged
.
;.
,. . ;
^soidiefs . . . . : : . . : . . : . . . . . . : . . . - . : , . . . . . ; ;
m , 2 3 8 / 0 P fi • ^ ... :
Clothing for officers' s e r y a n t s , , . , , , , .
. ... 17,721.18/. ;. .,, • . '
Two months' extra pay to reerihsted spldiprs. ',. 25,248 95
Contingencies of t h e . A r m y . . - , . ! . , , - . , , , . . . 4,947 83 . ^
Medical arid liospital depa.rtmeri.t,,, -.-.c^^j.^^.e ,,,^,2,4,134 46.
*.
Arrearages piior to ist J u l y , . 1 8 l 5 ; , - - - . • . . « .2,972 75
fiy
Invalid and half-pay p e n s i o n e r s . . . . . . . /.^.r 155,281 63
Pensions to widows: and orphans, . . . . ....-I !. ,4)902 93
^
. ^ .
Pensions to widows and orphans,, per act, -fifi °: ' ' .
of4tiiJuly, 1 8 3 6 v : - - . . . . . . . . , , . . . . . . : .
9|o,810 49^ ..
Revolutionarypensions, per act 18th March . . .
. :
1 8 1 8 . . . . . . • . . . . - . _ . . . . . ^ . , . , . . . . . . ^ , . ; . v . . . . , 276j753.14'.- •;•',;
West Point Academy.\ \Pay of officers, cadets, and niusiciaris... .
Subsistence of officers and c a d e t s . . . . . . . .
Forage for officers' h o r s e s . . . .-i'.:-...
. :^
Clotbing for officers' s e r v a n t s . . . . . . . . . i •.^Fuel, forage, stationery, piinting, i&c. . : . Piay of adjutarits' and.quarterniasters' elerks
Expenses pf the board of v i s i t o r s . . . . . . - .
Repairs and. iiripiovements- of buildings,grOUrids, &C. ;. . . . . / . . . - . i - - - :: - . - . i . -'

Miscellaneous and incidental experises....
Iricrease and expenses of hbrary.^,-...- •i'..:
Erection of a building for recitatiori and mili-:
tary e x e r c i s e s . . . . . . . . . . . . . . f i . . . . —
Erection of a barn and pubhc s t a b l e s . . . . ,
Printing and biriding the r e g u l a t i o r i s . - . . . .
Recoristfuction; of the buildirigs for the
hbrary, &c.v.destioyed by
fire..,-......

',-•39,064 00
29,946. 00
' 1,318 00
- 3 3 7 00'
. 7,647 50
.- • 4 7 5 ' 00
2,696 79
• 3,628 .75:
• 788^ 75400 00
18,254 60
500 0.6
360 00
: 13,000 00

Arsenals .
. . . . ^ . . . . . . . ^ . , . . - . - , . . . •-..,'• 129,535 20
Supplying arsenals with ordnarice stores.. . 79,399, 2?
Paymeritof taxes on the United States arse- ;
,n;ar on the SchuyljkilL . . . . . •:.. , . . . . . . . -..:.. 1,450 QO
.Repa/irs and improvements ofthe. arsenal at,..
Charleston. ,.•,.. . ^ . . ; . . . . , , , / - : , , . , . .,
4,450 OO
Purchase pf sitPSj arid construction of, arse-:. - '
..:
nals in Arkansas,. Missouri, and tenriessee
• 5,579 26.
P.urchase of land, &c., at Mount, .yernpri.' . . • fi-r
arsenal, Alabarria............:. , ^ . . . . . . . . . . .
2,221 66
Magazine at the .arsenal at B.aton .Rpuge., .•
.5,0.00 00
•Claims of the-State ;ofGpnnec.ticiit.... - - - -. '• ^5,,9.23 79;
torinessee yolrinteefs.,; liabilities « incurred.;
. ,.
;by Governor Cannon . . . . . , \ . . : . . . . . . ^.\ v: .':v^93 23
Arming and equipping;riiilitia-.-,.-....-...- -.- -.- . 212^5.84 .49
Apcoutrements "ofthe Arniy-•. •,..,.....-.. .:..; - ; . ;4,06;3 00
Ordriance service ::. .:fi.''. . . . . , . , . „ . ..^V>. . . M 5 0 7 ' ^ p p , .



/'^'

c-

204

R E P O R T S OF T H E

.; I183S.

Purchase of ligbt field-artfflery, & c . .
.
$34,977 79
National armories...
281,900 O
O
River wall, tUt hanimer shop, &c.. Harper's
. - . / . /
. " .
Feriy
................
50000
Hospitals
....-...^....
10,42976
,
Purchase of gunpowder . . . . . . . . . . . . . . .
32,775 51
Copper rifle
flasks......
.............
11,000 OO
Percussion cannon l o c k s . . . . . - . . . . . . . . . .
15,000 00
Elevating machines for barbette and-casement c a r r i a g e s . . . . .
....•--....:
214 46
Armament of fortifications
. . ^. 105,938 29
Repairs and contingencies of fortifications. - --3,098 56
Fort Adams, Rhode Island
28,000 00.
.
Fort Calhoun, Virginia
. . . . . . . .• - 16,800- 00
Fort Delaware',' Delaware river
33,480 OO .
Fort Caswell, Oak Island, North Carohna..
' 7,800 00'
Fort Schuyler, Throgg's Neck^ New York..
90,000 00.
Fort Warren, George's Island, Massachusetts
...............
55,00<O 00
Fort Pulaski, Cockspur Island, Georgia.. 48,570 59
Fort on Foster's Bank, F l o r i d a . . . . . . . . . .
.16,500 00
Fort McHenry, Redoubt Wood, and Co^
vington Batteiy, M a r y l a n d . . . . . .
;^.
7,57250
. •
Fort on the Arkansas frontier.
5,300 00
Erection of a fence round the burying
ground of Fort Gibson
-.-,--... - >
500 ,00
Preservation of Castie Island, and repairs
• '
of Fort Independence.
.25,000 00
Fortifications of Charleston, and preserva^
tion ofthe site of Fort Moultrie. - . - . . . .
53,654 55 ;
Purchase of charter right to biidge across
MiU creek. Fort M o n r o e . . . . . . . . . . . . . . .
. 4,000 00 ,,
Repaiiing Fprt Niagara, New Y o r k . . . . . . .
2,000 00
/
Fortifications at New Loridon harbor, Con^
- .
necticut...
.....................
2,000 00 . ;
'
Incidental expenses of fortifications, arid
'' /
purchase of lands in their neighborhood-. •
915 00
Barracks, quarters, storehouses, &G.,, at^
-. Fort Jesup, Louisiana. . . . . . . . . . . . . . . .
10,000 00 . .
. •
Barracks, quarters, s t o r e h o u s e s . . . . . . . . . . . 110,610 50
.Breakwater at the mouth of Delaware bay
69,000 00
/
Breakwater at Stamford's ledge, Portland /
'\ •
harbor, Maine. .> . . . . . . . . . ... -..-..-....... - - .5,098 00
• •:
Breakwater at Church's Cove.:.harbor, in '
the town of Little C o m p t o n . . . . . . . . % / . . . '
•2,778 70 .
Breakwater at Sandy bay, Massachusetts., - 5,000 00"
.
Breakwater and pier at the harbor of Burr
^
•.
lington, V e r m o n t . , . . .
. . 1 - . .-.-..>.... ; 14,000. OO '
'
Pier and breakwater at the mouth' of the'• c
St. Joseph's, M i c h i g a r i . . . . . . . . . . . . . ^ . . : 18,784 00 . ^ : ' :'^ ^



1838.]

S E C R E T A R Y OF T H E t R E A S U R Y ,

205

Breakwater and pier at the harborof Plattsburg,.New Y o r k . . . . . . . , . . . . . . . . . . . . - . . . . _ , $9,.137.:0O,
Constructing two piers, and irnproying the
navigation at the ifioutb of/ Vermilion
liver, O h i o . - . .
.
...........,.
7,500 00 .
Pier at the entrarice of Kennebunk river,. .
. Maine.
.....:.......!......
2,425 00
Pier to give direction to:tbe Mississippi riyer
near St. Louis
. - . . . . . . «.. .....
47,1.65 8 8 : •
Pier and mole.at Oswego, New.Yprk,....
12,569 .82 . .
Deepening the chamiel of the Cocheco leading into D over harbor i
..................
1,.700 00
Deepening the channel of the river.Thames,
C o n n e c t i c u t - . . . . . . -;.
............
_.
4,500 00 '
Deepening the channel between the islands
of North and South Hero, near St;. Albaris,
'4,000 00
. Vermont
.:.. .
Building icebreaker on Staten. Island,, New
9,500 00
Yorii...
....,...,..._...
Securing beach at Cedar Point, in Connec- .
ticut.

V . ^ - - -.--.•'-- - - * .

Works at the mouth of Genesee river, New
York
^
. ...... ,^ .,-.....
Improving the harbor of Presque.Isle,.Pennsylvania. .
•. ,....,. ....,
Impioving the harbor of Chicago, Ilhnpis...
Improving the harbor of Dunkirk., New York
Improving the harbor at the mouth of Bass
river, Massachusetts
..:,..,.......-.. /
Improving the harborof Saybrook,.. Connecticut
--.,...,.- ^ . . . .
Improving the harbor of Westport, Cqiinecticut
•^ >...
Improving the harbor of Portland, on Lake
Erie, New York.-.,......
..,......;......
Improvirig the harbor at the -inoutb of Salmon river, on Lake Ontario, New York..
Iriiproving the harbor at the mouth of Oak
Orchard creek, NewYork.:,..............;.
Improving the harbor at the mouth of Black .
river. New Yofk.......
.-;-.-... ^;...;.. ."
Iniproving the harbof at the mouth of Cattaraugus creek,, on Lake Erie, .New; York,.
Improving the harbor of New Brunswick,
New J e r s e y . . -...... . . ...,->-...:......... .
Improving the entrance of Whitphall harbor,
on Lake C h a m p l a i n . . . . . . . [ . . .„..
...... „
Opening a passage between Beaufort and
Pamlico Sound, and improvirig . New
Brunswick, &p.;.; : . . . . w v ^ . . . . . ^ . . . . . ^ ^ . /



160 00

.

8,500 00
8,600 00 .
9,000 00
. 6,500.
00 ,
3,050 00:
4,2'90 00
1,700 • 0 0 :
13,,439 46 . . .
..
8,081 00 .
6,000 00.7,131; 00
12,041 00
. .6',963.0Q
2,50.0 00
. 12,500 00

.

206

/REPdRTS'OF THE

[1838.;

Construction of a harbor at Michigan G i t y j ;
"- •:•"•
I n d k n a / . . , : . . . . . . . . ..J..:..-..-.•.^.:-...- J l 8 , 8 3 6 OU. - ; / •
Improving the harborof New Castle,-Dela-^ •
: " •
;; .
.':
ware
. - . . . . . . . . . j . ' . . . . - . . • • 7,000' 00 ; / ; '
Reriioving sand bar in the harbor of New
-- . - .
Bedford, Massachusetts.-.. .V-- ^v-. : - . : ; • -500 00
::;•.-/
Improving the harborof Wilmington, Dela- • : . . . . . - : . : . : . ; • M^afe
-..........-:,........-•
3,000 O ^ ' ; ,
O
^ ''
Deepening the harbor of Baltimore^, Mary-^
• land ....
. -.....:.........;... -...
; 6,011 00
' •'
Impioving the harbor of Mobile, Alabama. • 5,OOO ,00 •
Improving the harbor of Cleveland, O h i o . . - ,24,990 00
Improving the harbor at the iriouth of the
river Raisin, Michigan... - : . . . . . . . . . . ..•.: - ^ 9,000- 00- •
Impioving the navigation of the Hudsori
. .; ;
;;
river. New Ybrk.
: . . . : . . - / . '48^550 25
Improving the' riavigatiori of Cape-. Fear
. . . . . .
/•
river. North Carolina
./--.-...::
; 6^062 99 •
/
• /• •
Impioving the : navigation of Cumberland - . . . . .
river, Tennessee..,.-....-.-j...
26,500 00- /•
Improving the navigation of the Ohio, be-tween Pittsburg arid the F a l l s . . . . ..^....
20,,00d '00 " '
Improving the nayigationof the Ohio,; Mis-.:
-. . ^ - ^ ;.-..
SQuri, and Mississippi r i v e r s . : . ' . . . . . . . .
21,000 00'
';°
Improving the navigation of the -Ohio arid . . .
.. .•
Mississippi
riversVfipmLpuisyiUetoNew
O r i e a u s - ^ . . . - : . : : . . . . . ' . . . ; : . . . . . , . . . ; • " 2l;687:O0: ' ; /
' . '.
Improving the-riavigatiori of the Mississippi
:
.-;
river above the mouth of the Ohio,, and .- ' ^
.^;
the Missouri r i v e r . . .
. . . : . / ; / . . - . : . -40^000- 00 ^^':'/
; ^/
Improving-the navigatibn of the Arkansas
.- •
- •
river...................... .k.... •
5^000 OO./V ; • / /
Iriiproving the riayigaLtion of the irilarid
v. . . . . : . .
^.
channel betweeri the St. Mary's arid St.
•
. John's- . - . . . U . . . -//•_. ; . . . . .......•...,• 3,950. 00- * •'
.
Improvirig the navigation .of tbe-natufab
•.
' - ' ''-fifi'-^
channels at the nofthern and SGuthefri'.
.
.
.
entrances of the Dismal S^amp carial..
• 6,000 00
•
.'
Increasing the depth of water.in the mouth
•
of the Mississippi r i v e r . . . . - J . . / : . ' . : . . .
13r,000\ 00
' /
Irnproving the riaviga:tibri of Red r i v e r . . . . •. 70,000 00
Removing obstructions from. Hurori river, •
; ? * ".
Ohio......,./.;...:..v.,\..^..-.^..:.:...'
1^250 .00
Removing' obstructions from Grand •liverV'
;. .'Ohio.
" i V ; . / . . - . . . . . . . . . . . . . . . . . . . . . . . ..,.7,148:0.0 ^ .•/ Removing obstructions from Big Sodus bay, • .
•
'
'. -.
New Y o r k . i : . . : . : . . / . . . - . . . . ^ . . . . . . - • . . . .
.10,000 001/
Rembvingpbstructionsfrom Black fiver, Ohib
>3^^60 :00 •
.. : :;/
Removing obstructioris^
fi-om^Cunningham
' •;
/ '
^ ^v;^ .
v
creek Ohio. iiJ. . . . . / . . . . . / . ^ . . ...^.--w^



I838;i

S E C R E T A R Y OP T H E : TREASURY.

207

Removing obstructions from Ashtabula
i
/
creek, O h i o . ^ . . . ::^^.---,. . . . t ^ . . . . . . . . . - : $3,370 00
Removing obstfuctions from Conneaut creek, .^
•' . ;
Ohio:.
:...-..::.;.--..,.•..^-v,;.-.
.3,500,00
.;
Selection of sites for Marine hospitals on the
Mississippi and Ohip^ and Lake Erie. . .
35-97
Improvirigthenavigatibnof Pamlico or t a r
'•
.;
river, below Washington, North Carolina
1,000 00
- " : :
Works at Buffalo h a r b o r . . . . - . . . . .... .^...
10,250 00 •
Erecting a mound and sea-w-all along the'
peninsula which separates—Lake Erie —
from Buffalo c r e e k . . . . . - . . . . . : . . . . : . ; . . .
15,000 00 .
^
Preservation of Plymouth b e a c h . . . . . . . . .
1,200 00.
Rebuilding light-house on Brandywine
.shoals................................
-7,500 OQ
Light-house on Flynn's knoll, near Sandy
Hook
.................:...^.
• 2,590 74 - - ;
Roads and canals.
- - . > - . . . , . . . . . - 13,255:82
'- " Cumbeiiand road in Ohio,, west of Zanes-*
ville,
• . . . . . . . . . . - - . . . . - . . . . . . ' . . . ' . . . - - • 51,508 17 *
• • /
Cumberland road in Indiaria... . . • . . . . . . .
.85,471 95 •
Cumberland road in l U i n o i s . . : . . - . - - . . - - - .
67,000 00
fi
Biidge over Dunlap's creek, on Cumberland •
: •
.
roadj in P e n n s y l v a n i a . . . . . . . . . . . . . . . . . •
9,000 00
Military road from the Mississippi, between
the mouths of St. Peter's and DPS Moines ' .
rivers, to Red river..
......... -..,,
29,411 72- :
Road from the northern boundaiy of Florida ••.-'••'•
to A p p a l a c h i c o l a . . . . . . . . . . . . . - . . . . . . . . / . - 1.8,"821 00 -'-• •
Mars HiU military f o a d . . . . . . ; . . . . . . . • . . ; . . •'/
364 03 ;
• .\
Mail route and post road . thiough the;
.
Creek countiy.
...... ...^•.:.'... .-...fi.. ' .1,544 5.0
"^ :
Surveys ofa military char acteiv and. for the;
. . . . • . ; . ;
defence of the Atlantic and; Westernfrontiers.. . . v . . . . . .\.. . - . i i s . " ^ . . - . i
8,608 50—
Survey of the railroad from Milwaukie to : "
Dubuque. . . , . : ^ : . . .
. . . ^:....... ..., ; r 2,000 00
Preventing and suppressing Indiari hostilities 994,223 27 •
Forage for dragoons, volunteefs, officers, & e . . "309,976 35
Freight or transportation into .Florida- or
Cherokee countiy. . . . . ^ . . . . : , . . . . . . .
203^449 92
• "
Wagons, carts. / . - _ . . . . . . . . . . . . . . . . . ; . - . • 85^226-20; .
-';
Transportation bf supplies, & c . . . . - . - - 1 .
368,012 95.
Miscellaneous aind -contingent charges- - - - • - 457,289 60 •
Hire of corps of mechariics, &c..-. . ^ . . -..:
^
79,384 .40
Transportation of four thousand volunteers
91;675 33
Drafts lying over,.arid..aiTearages'fof sei-vices iri Florida, or the Cherokee/coriritry 1,044,531 60 •
Pay of four thousand volunteers fof 1 8 3 8 ^ ; /
/ including arrearagesfor 1837w>...^^^v-> ^-947,265 34.^
/.



208

^

^^

R E P O R T S OF T H E

\

Subsistence for militia, volunteefs,' arid :
friendly I n d i a n s . . . . . . . . . . . . . . . . . . . . . . . . . . .$185,234 29
Purchase of powder and,, othef materials :
for cartiidges . . . . . . .
.....-,.,........
v34,.950, . O , ^
Q
Correcting an errof in paying Indians i n t h e
public service in F l o r i d a . . . . . . . . . . . . ^.
7,775 53 '.
Arrearages of annuities for Cherokees.:,,,, " 62,000 00
Piotection of the northern frontier^-.-.>.... . 342,683 86
Civilization of Indians.. .:...•-„..„............., . .• 7,17.9 .50
Payof superintendents of Indianaffairs and
^
Indian agents
, , . ; , - - , . -.-; - .
7,940 76
Pay of sub-agents. -...... - . . . . - . . . . ^ , . , , .
. „ 5,943 65
Pay of interpreters.;.,...
.....,., ^ . . ^ , . .
5,213 58
Presents to' I n d i a n s . . . . .
,....<..,..:.
4,893 58
Provisions for I n d i a n s , ; . . . . . - ^ , , - . , , - . . .
. 4,535 44 .,
Contingencies
16,737 91
Salary of a clerk for the acting.superintend.-^
^ ;......
.
.
ent, Western Territory
................
500, QQ
^
Salary o f a clerk for the superintenderi.t,
Wisconsiri T e r r i t o r y . . . . . . . . . . ^ . . . . . . ,
... .400 .00
Fulfilling treaties with the. Pottawatpniies.
121j917 55
Fulfilling treaties with the Potta"watpmies . of Huron
,.!.,..,......,..,
, 400 00
Fulfilling treaties with the Pottawatorniespf .
P^
Prairie
...,....,..,.
16,Q0Q'QQ ;
;
Fulfillingtreaties with the Pottawatomies: of:
'
Wabash
^ . . . . . : . . . . . . . . . , , , - . . . . .;20,OO0 QQ
.Fulfilling treaties with the Pottawatomies of
^.
Indiana
......................;...,.,
.15,00000
FulfiUing treaties with the C r p e k s . : , , , , , , , . ' . .282,373 72 •
Fulfilling treaties with the Florida Indians ' ^ 62,181 00.
Fulfilhng treaties with the Six Nations, New
York
_ . . ; . v V .4^50a QQ
Fulfilhng treaties with the Sipux of Mis- • >.
sissippi....,,..-,....
: . . . \ , , , , , . . . . ,7,34Q QQ
Fulfilhng treaties with the Yanctori and Santee S i o u x . . . . . . . . . . . . . . . . . . . v . . , , ^ , . , , ,
3,980 QQ..
Fulfilling treaties with the Sacs arid Foxes ' 12,478 75-"
FulfillingtreatieswithtbeSacsandFpx.es
•
.
of Missouri...
..
. . . - . . . . . . . . . . . / .;.3^280 00 . . . ,
Fulfilling treaties with the.Sacs,and.Foxes. . . . . ' . / of M i s s i s s i p p i . . . . . . . ? - . . . . , . . ; , , , , . , , ,
40,780.00
Fulfilling treaties with the Ottpes arid; Misr ;
sourias.
......^V:.
, . J....,..;, ^w
4^430 OQ.,
FulfiUing treaties with the Oinahas^./.....,.
3,580 00 •
Fulfilling treaties Xvith the lowas.....;,-^ ...
.34,430 QQ
Fulfilling treaties with the C h o c t a w s . . , . , 41,229 43
Fulfilling treaties with the Sacs and Foxes.,
.
• ' :/
'
lowas, Sioux,. Oniahas, and- Ottoes arid.;
Missourias..,.... " ^ . , " . : . ; . - . . . . . . . . . . . . . , . .
1,584 00-,,



[1838.

...

.'..

' ' •
.

.

' ^.

1838.]

S E C R E T A R Y OF t H E TREASURY.

209

Fulfilhng treaties with the Wyandots, Mun•'
sees, and D e l a w a r e s . . . . . . . . . . . . . . . . . . . . . . $1,000 00.
/
,
Fulfilhng treaties with the Senecas, of New
-; . .• / • . .,.
Yori^.......,........,.........
/. .6,000 0 0 , ; • / ;
Fulfilling treaties with the Wyandots.......
6,480 OQ .
; ,..;
Fulfilling treaties witb the Ottowas 1......... . • 11,825 00 ; ^
/
FulfiUing treaties with the Christian Indians
400 QO : •
Fulfilling treaties with the Miamies........ / 97,120 50:
.
;; \
Fulfilling treaties with the Chippewas, Me- • ^ . j
/• •' ;\ •; •
nominies, Wirinebagoes,. and. New .York: . ., ... Indians . . . . . . . /.:. . . . . . . ^ : . .'^. J - ' . . . . ;
- 7 5 0 QQ- . / - /
. >
.
Fulfilhng treaties witbthe Chippewas, Otr.. , . . . ; /. . . . .. .. .,. .•>•
tawas, and Pottawatomies....;. - - •-..- ./.•.'. . 34,415 00 Fulfilhng treaties v^ith the-Menomonies.I. ;
31,630/00
:..
Fulfilhng treaties with the Winnebagoes,. ^ .. . .38,467; 26 ; -•,
Fulfilling treaties'^ith the Chippewas.... ^^
.250 00:,
Fulfilling treaties with the Chippewas, of ;: ..
.^^ •;
- :
; Saginaw . . . . . . . . . . : . . . : . . . . . . . . . . . . : - '
4,300 00 .,
- /
Fulfilhng treaties with the Karizas
3.,680'. 00; ^ ,.
Fulfilling treaties with the O s a g e s . . . : . . - c . . ./ 12,242 6 5 ^ ' .; ..../ - - Fulfilling treaties with the K i c k a p o p s . . . .
5,250. 00 Fulfilling treaties with the Kaskaskias and :;
/< v • •: .
P e o r i a s . . . . / : . : : ^ : . . . v . . . ^ . . ^ . - . . . ^ . - • ^ ,3,000 Q O c : ; : •} . ^
Fulfilling treaties with the Piankeshaws— ,
; :800 00 ^ . / ; : r' I
Fulfilling treaties with-the W e a s . / i . . •. >:.'•.••! ^;3;0QO. 00 / / ^ s ; ; • • V
Fulfilling treaties/with the D e l a w a r e s l . / . ; - . 7^,780 Q0 ? ] / . .. :^
•Fulfilhng treaties with the S h a w n e e s : . . . . ' ; -- - 6,340 00 . / ^. /; /
FulfiUing treaties with the S e r i e c a s . . . . . . . / . :1,940: 00; ^ i };
,
Fulfilling treaties with the: Shawriees; and ^
. : / ; i •• -.
'
Senecas...........:.:...:.........;...
-1,820 QQ;;- ^ : .;" /
Fulfilling treaties with the Chickasaws..... ;. • 963 QO. •;
Fulfilling treaties with the Quapaws...;/...
3,531 50 ; / : ;
FulfiUing treaties with^the Pawnees.-;: -:•. '• . ;9,30Q P'O • i •;
FulfiUing tfeaties w-ith the Cherokees. ^ .^ . - ; 5^,617^ 50 ;
FulfiUing treaties with t h e C a d d o e s . . . . . : / .- .10,OOQ O . / Q
FulfiUing treaties with^ the/ Ottowas and ^ u^- / '• : r: -:. • ' , :
C h i p p e w a s - : . . . : - . . . . . . ^ . - . : - . . . . . - . - - - - ' - ^ 57,2.8
i/fi/FuhSlling treaties .with the Eel Rivers. / ' . . * ^^ ^1,100: 00 v; ; -^ -^
Current expenses of the Indiari: depaf tment/.- ri 982^ OQ; . :- .••'• ^
Miscellaneous o b j e c t s . . . . . . • - . .^... / . . - . : . , ^ -3,28e:;9Q• • > ' "' .
.Subscription to the Indian B i o g r a p h y . . . : . / ; • : 30Q-QQ' ; • . '
Experises of Indiari m e d a l s . . . . . - . . - . : - v . ;
, 2,024 3 1 , :i -^
Experises of delegation of lowas, Yarictori •
'
i-: '. - .:
Siouxj and Sacs' and Foxes in. 1 8 3 7 . . . : '
6,523 18 .^..: :/
Expenses of delegation of Pawneesj/Ot- : . \ ;
: '-•': "-.W
toes, aridMissouriasandOmahas,iri 1837 *- : 8,296 .97. •• '.'. •••./'.
•>
For value of impioveiiients on lands ceded
;
-• ^:
' ' ^^ .
- by Miamies . ^ ^ . . : . . . . . . . . . . . . . . . . - : : . . . : . . . .^ ,;-...'308; i O ;.•.. ----fi •.-./
O^
Carrying into effect treaty with Chippewas /.:.:'.-:.^ fii fi.'. •. . :-:'' !
/ o f Saginaw;, iri. 1837^8^-..;.,;.;. . i ; ^ . . . ' . 1^9,866 |61. ;,.; ; . i
• ••• ' VOL. iv.—14.- .,.'"
•' -..'
:.^ •"./•/.:.:•'-. ^



210

/

R E P O R T S OF T H E

[iB3S.

Cariying into effect treaty with Chippewas
of Mississippi, in 1837.
I . $183,00Q 00
Carrying into effect treaty with Sioux of
. .
/\ /
Mississippi, in 1 8 3 7 . . . . .
.............. . 132,000.00 . „ / :* /
Carrying into,effect treaty with -Sacs and
'• / ^;
Foxe? of Mississippi,in 1837^.,.....-...../ 33,360 QQ
; ; / •
Carrying into effect treaty with Sacs and .
•
' :/:'/
Foxes of Missouri, in 1837............i . . . :
2 ^ 0 0 00
Carrying into effect treaty with Yancton ;
:^^
'
and Santee Sioux.
.1.
. 4,000 QQ
Carrying into effect treaty with Winnebar > /.^ . . . . . .
•
1
goes
- 214,859-64'
;• : - ^
Carrying into effect treaty with lowas...
2,500 00
Carrying into effect treaty with Oneidas a t
.
, ,
GreenBay
..................
2,54665
/• ;
Payment to the Choctaws for depredations
825 OQ
Expenses attending the negotiation ofthe.
^ treaty-with Senecas and other bands-of
... .
. . ,.
New York Indians
8,137 26 ? .
: ^
Expenses of subriiitting the Seneca treaty
\
:
for the asserit of the t i i b e s . . . . . . . .
IjOOO OQ
Negotiation with the Miami I n d i a n s . . . . ; . - .
-870 00Treaty stipulations..
.
.....v..... 166. 62, „ .
Education of Indian y o u t h s . . . ; . . . . . .
.
2j611 ,0Q /
Transportation and incidental expenses..;.'
38^983 1 3 ; .
Removal and subsistence of Indians, . ' i ^ . 251,124 23
':-:::;
Holding treaties with certain Indian tiibes,
per act 14th June, 1836.. . . . . . . . . . . .
1,166 94
Carrying into effect treaty with the Cheior
/
'i
kees of 29th December, 1835..............._ .870,137 43 _ .
;'
Carrying into effect treaty with the Ottowa
and Chippewa Indians of 28th March,
•. .
'
and supplemeritary act of March 31,1836,
20,712 .41
Expenses of removing Choctaw Indians
from Mississippi/.. . . . . . . .
..,/....
11^090 00
/'. .
Fulfilling treaties with the Osages, per act
6tii January, 1 8 3 8 . ; . . . . . . , . . . . . . . _ . . . . . . _ . v . . 12,00a Qi>
•'
Completing medal fof General R i p l e y - - . - . i. 210 OQ '/ ';
Expensesof medals and swOids for Croghan .
" • /.
;. -"
and o t h e r s . . . . . . . . . . . . . . . . . . . . . . . . . .
, . 200 00
Pay to Adam Echfeldt for medals to offi' /•
cers, per act 16th AprU, 1 8 3 8 . . . I . . . . .
• lj008 8 6 ' .
• /.^
Balance due to the heirs of WiUiam. Mel^
' .
drum, per act^6th April, 1838,^ . . . ^ . . . ; '•
268 55 . . ^ ^ ^^
Relief of sundiy i n d i v i d u a l s . . . .
, . . . . ,.\ 30,968 10
." - • '
Virginia claims, per act 5th July, 1832.
' 38,119-19 >
Revolutionary claims, pefactl5th May, 1828
7;6,.199 99 . '
Revolutionary pensions, per act.7.th.Jurie,. . „,.. „. «
1832
. . . . . . . - ! . . . , . . . . . . . . . . . . : . . . . . •':345,872:-75.
Uriclaimed perisibriS;,;peract6th AprU,1838
3:0,912 52
/' /



1838:]

SECRETARY OF THE TREASURY.

Commissioners to adjust claims, under the
treaty with the Choctaws

filX
. ?

$17,415 #7

$16,000,730 ^ S .,
From which deduct the foUowing repay- _ ,
. , ; ' ,. '
ments, viz:
.•
$304 22
Fort Monroe, Virginia
.
Renioval of Ught-bouse on. ' ' ;
. .
6 75 ' ' / .: \y--.--'"-.
Goat Island
Removing the wreck in the
harbor of New Bedford-.
' 155 7 3 ; : ; : " ; ; ; • ,
Arrearages of astronomical :
observations
— ' • • i ' . m 6 9 ; : ' , ; ; ; ; • ; ..
Volunteers, and an additional
regiment of d r a g o o n s . . . #2,440 90
Repressing Seminole hostilities,.—
....
,8^,5^7 91
_ :_
Suppressing hostilities of ^
Creek Indians.
* ;ii,'4si 7 3 ,
^
^
,;':.; •
.
>603 49
Blacksmiths' estabhshments
. ; ;
Indian annuities
— . .; .|405 00,
Purchase of iron, steel, coal,
978 69 :i .: .
&c. . . . . . . . . . . . . . . . . . '
Carrying into effect treaty v,
.''
with the Cherokees, per act
4th June, 1832
. . ,545 T 9 , . . ; : ; . , . , : .. :,.,.
Treaty with the Cherokees,
'. /
per act 2d March, 1 8 3 1 . . . :
1100
,.;:.
Carrying into effect treaty
with the Pottawatomies of
14,820 1 5 , ' ' / : / .
1832
Treaty with the Pawnees, pefact 28th June, 1833
.
: hB36 2 a
I
Treaty with the Shawnees,
per act 4th June, 1 8 3 2 . . . :
;:, 84 00 •• • 1,;.:-.:' ,
Commission west, per act '
38 0 3 : . ;
28tb.June, 1 8 3 4 . / . . . . J .
Pawnees, Ottoes, and Missour
13127,;;...
. . _ ; ; . . .. . /•:
rias, per act 28th June, 1834 •
Senecas and Shawnees, per
act 4th June,, 1832 - . . , . . . . :- .-•;• 258 7 4 ; , . ; . ; ; . , . . ' - ;
P a y ofthe Army, and subsist• 232 66
.
::
ence of officers
Bounties and premiums^.. .> ; . • 4 2 5 -08,
:,,.,.:
P a y due the executive staff of
the Governor pf Tenriessee ; U - . 3 8 4 4 5 , : •'• .• :.;•: '
. Tennessee volunteers, mus;. •. :
1
tered into service by Govr
1
ernor Cannon's proclamam^ thii of 28th • April, .1836.. 158,494 43 _ , , . _ . ;:



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212

/ ^

V R E P O R T S OF T H E

[1838^

One month^s pay to volun:' ; .
- ^
V
teers and mihtia of Ken-r . . . . . . .-•:
-. j .
tucky, Alabama," Mississippi, &c., per act; 1st/of
March, 1 8 3 7 . . . . .
...
$9,683 18
,
•
Road from Fort Towson to
; ' , .
the northern boundaiy of
•
' .
Louisiana.
..
12 01
'
>t,^^ ^
For the more perfect defence ^
. . . . . / ..'/ - : ;
of the
frontier..-.
10 00' •
'r
'.;-:;
Barracks, quarters, &c., at
^" * ; ;
.^
NewOrleans.
87-87; / - •;
/ - - ^:-" ; •
P a y of Illinois militia
. . ' > " - 2 , 0 3 0 14-.^ . . / . . . . = . /
- :/
Removing intruders, per act
"
'
. :
•
;2bth February, 1833
- ; 78S 42.
:>/•; i : ^L
Running lines, per act 26th
•
:^ i;: / •- • .
•Jurie; 1834...
' - ^7,251 41..
. . : ^ . . . . . . . . __^/ '^ •
Runnirig lines, per act 28th
^ / . '
<>:•,• /
June;1834
•
2,837 00 - . - . / / ^
:•
Provisions to Indians, per act" ^ •
^
. , : • : . / / • : ' ' • : .;
:'
28th June, 1834.
. . - ^ ' / 3 3 9 48^ . - - . - . - . - / / v. • •:.-Extinguishment of claims to
c ; '
^
/ • :r
;r.i
land in Georgia, per act 2d •-^ - -^'
.,.....,-...
. ./ f.
/March, 1 8 3 1 . .
16^995 57 '
-^
-^ / /
r Treaty, with the Kickapoos /
" " • : ' . '/ -';>l'^
;^pfl833.
/ : 700 OQ^^ --^^ , _ ^
. : .;U
Western'Creeks, 28th June
,• . ; - /- • -/ .:r .1
1834.
. - il,85Q0Q
' : / • y - i f i . - . f i . fi-- ,
:Rifles,"blankets,&c.,(Creeks,)
.; .
. . / /;
:
.//
^ "2Sth June, 1834
•....
532" 52^-' - .^ :- ; > . - / . ; . : / : / : /
Payp:ientjof claims, (Creeks,)/ • ' ^^
.... .
• ^ ./'>'"
2()th June, 1834
151;83
.:V -^^ * - v.^ ^^ /
Creek treaty, 4th June, 1832^:^; ^ ' - 2 0 6 29-^ -.-^ • . ;/ -:• - =
-transportation and contin^
^
.;• : f . :. : t
gencies, 2d March, 1831.-^^ 30 55 / / •
^ / ^ "^
Contingencies prior to 1829.-. .
49 57:^; . - ; / ' ' ^ ^ - -^ :-'/
«
transportation arid distribu- • * '^
..».. . ^ .. - ' ; ; ^ ' • -:
' tion of annuities, 4th June
.;..•::
//'-...,:/r-fi
1832......
.//^
339 61
^ /
: '. :
./i
Effecting Iridian treaties, 15th
^- - : '
i ' - ^ - :^' .r;
June, 1832
' . . . . . . . f /'-[i -78 08. . ^/- -^•"-'•" < :^^ : . ^Z;;- - : ; : /
^
Surveying Pottawatomie and
-•: / :
: ; -. • / ;' /;^ ; ' /
Miami cessions, 2d March, /•
» . . , , . . . . ^ •>/^Tl^
• 1831
r - r::..227 00,-. -•'• • \ : y / ' ^ • - '-•;;••;. •
Choctaw and Chickasaw
' / :. / ; ^ ^ •/:
treaty, 30th AprU, 1830.1 / fi3^126 17 * '
" / ' ; : ^ ' '^
Expenses ofRedriver agency,
. -'-•'•• • ;
2d.Marcb,1831.........
1,300 OQ' ^ ^ ;" ' .
/
v/
Claim agairist the Osages, 2d
;'•'
March, 1 8 1 9 . : . :
. ..;-•; /ii/:, 834 50^^'''^." I i'.-^;/ ^?^-- •''



1838.]

S E C R E T A R Y OF T H E TREASURY,

Rifles for Cherokees, 2 d . ;
March, 1 8 3 1 : . ; . - . . . . . . ,
Extinguishment of Creek,
titles, 2d March,' 1 8 3 1 . . . .
Corn for Seminoles, 31st
March, 1832.. i^.-^.-^
['
Choctaw treaty, relating to^
vycXLLxIZy

. . . . . . . . . 1 .

.

$400

* ;

00

1,651

• •....;

:.;.

/ • /

Z /

::

> . n ' . , ^ - - :•

4 = 1 : . : . -

1,500 o o . - ; . - , ;
.215:

. . . . . . .

Expenses of arresting Iowa,
prisoners, 2d. March, ;1833

•75,

1,023
-

;

213

•

•

-

'

•

•

-

,',

3 8 " "
'

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,.

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. •„

'/.'••".

:,,.:,

;

'••'••

:.,-,:

:

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•

' ' ' ; ; ; ; . ; .$15:731,323 62

;- ;. : NAVY E S T A B L I S H M E N T .

Pay and subsistence pfthe N a v y . . . ^. - - • .$1,625,185 49
Pay of superintpridents—
46,648 68
Provisfons... : . . . . . . . . . : . . . 1 . ^ ^ / 1 . . . - . : " '439>,531 76
Medicines, surgical instruments, &p. . . , . . ;,. 5.8,568 ^ 46
Navy-yard at Portsmouth
12,300 00
Navy-yard at Boston..
.../......^
27,000 O
Q
Navy-yard at New York
. . . . . . . . . . . . . : .37^675 96 •
Navy-yard at Philadelphia..- ^ . ^ . .^-:....
^,416.48
Navy-yard at Washington...:... ^ - . . . . . . . " J5,873' .00
1S[avy-yard at N o r f o l k . . . . . . , / . . , . . . .'.V. : ,8^,570 51
Navy-yard at Pensacola.
-..-..
...
58,432 98
Survey ofthe harbors of Beaufort and Wil,. :
mington, Nortb C a r o l i n a . . . . . . . . . . . . . . . ; 1 , 5 0 0 / Q 0 :
Survey of May river, from Tybee bar :tp : ...
, Hunting Island.
...^..........
^1,5QQ .00
Wharves at the navy-yard at:Pensacola..
8,666 00
Magazine ne'arBQStPri-.r. ---.-.- - 44 64
Magazine, Elhs's Island, in the harbor of
New Y o r k . . . . ^ . . . . . . . . . . .
1,625 00
Hospital at.Boston..
1,173 86
Hospital at Brooklyn.
43,300 00
Hospital at NorfoUi.. - . , . . - . . . . . . : . . . . : . .
7,000 00
Hospital at Pensacola. J.'^..
...
26,525 72
Navy asylum near Philadelphia..
\
^ 253 92
Fixtures, &c., for asylum near Philadelpbia
103 69
Ordnance and ordnance stores
.......
69,579 31
Gradual improvement of the N a v y . .
..
206,709 16.
Repairs; of vessels in ordinary, arid/wear
and tear of vessels in comiriissiori--->-- 761,294 84 ,
Contingent expenses of the N a v y . . . . . . . . , .
339,997 53
Contingent expenses riot eriumerated../,..'
580 79
Rebuildirig fiigate "Congress:... . . ^ / . . ' / . . ';/ 16,721.78
Building arid ecjuippirig two sloops of w a r . .
156,658 58
Kuilding and equipping six vessels ofwar,
;43,406- 90
"jaurichirig ship-of-the-lirieP/enrisylvania.. ' 10,962 99



;,

214

R E P O R t S OF tHE^

Completing steam vessels building at the- navy-yard at Brooklyn.../: / . . . . . . . .^ .- ' $5^078 9 # ^
Arrearages of survey of the coast and har-: '
bors ofthe United S t a t e s . . . . . / ^ . ^
-' 166' 5Q^'
Reliefof Charles Blake
'•-'
180^ QQ'^ '
Rehef of Daniel T. P a t t e r s o r i ^ ; . . : . . . . . . ..• - 3>391-0Q^ ^ Relief of Abraharii L ansing
'
' 103 96
P a y arid subsistence of the rriaririecoi-ps..
108,991'76 \
Subsistence of non-commissioned officers,'
'
:: ;
&c., serving on shore
.:.-........
12j766^ 09 •' "' ^
Clotiiing...... : ^ : : : . . . ' . / . . ' . . . . :
43,454 44
Mediciries ari^d htTspttal stOfe§
3,201 88
Fuel.
.......
15,853 44 ,
Military stores..
v ^ . . - v . l v : . / . .^I.1,513 34
Contingent e x p e n s e s . - . - . 16,709 04 ^
Transpoitation and' recruitirig 1 : . . - . . : :
3,921 77
Repairs of bafracks. J . . . ^ . . . - .
-.
5,068 62
•;

^^

- _

$4,337,208 77

From which dedrict the following repayments, viz :
Powder magazine at Pensacola .
$0- 10- Brick wall or Pncip^ufe', Pensa- - c o l a . . . . . . . . -^: .;i,V-\- - -.-3,800 00'
Gradual increasip ofthe Navy.'.-. 103 83 - ^
Repairs of sloops of war...-.-.-.- 233- 50 - Iron t a n k s . . . . . : . . ' l . . ^
92 50 Sui'veying and exploiing expedition to the Pacific. /
6,366 42Arrearages to captains and sub-^
alterns, maiirie cbrps
-.. 1,049 21 ,11,645 56
4,325,563 21
$28,427,218 68
TREASURY

DEMRTMENT,.

REGISTER'S O-EFiCE, Novemher,30, 1838.
:
, y
.
.
T. L . SMITH, Register.

fi: ,;// ffi

c.

A statement exhihiting the valud ofi Imports and Exports during the commercictl ymr ending on the 30th ofi Septemher, 1838.
Impoited merchandise fioe of duty . ;
^ , . . . . . . $60,146,000 00
Imported merchandise paying duty ad valorem'
22,650,000 o6
Imported merchandise pajdng specific duties
29,204,000 00
Value of imports



.^ .$112,000,000 00

1838.]

S E C R E T A R Y OF T H E TREASURY.

215

Exported mercbandise free of duty . ; . . . . . . . , . . . .:..,.ii/ $8,043,0Q0 00
Expoited merchandise paying duty ad y a l o r e m . . . . . . ;
2,090,000 00
Exported merchandise paying specific d u t y . . , . ^ . . . . .
2,337,.0Q0 00
Foreign merchandise . ^ . . . . . . . . . . . . . . . . . . / . . . . . . .
Domestic prpduce, &c. . . . . . . . . . . . . . . / . . ^ . . , . . . . , .

12,470,000 00
9Q,666,O0O OQ
$103,136,000 00

TREASURY D E P A R T M E NT.
REGISTER'S O F F I C E , Decemher 3 , : 1 8 3 8 .

T . h . SMITE., Register.

. .::•

:^ :

. . -;-

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•-

.:=D.;'

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•

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-

-.^.••--:^

fi

.-•. ' . , Circular to all CoUectors and Receivers ofi PidMc: Money. •
.., ; .
•:
tREASURY' D E P A R T M E N T , Ji^we 1, 1838.
By a resQlutibn, passedthe 31st ultimo. Congress has declared, '^that
^it shaU not be lawful fbr the Secretary of the Treasuiy to rnake, or to
'continue in force, any general order which shall create any difference
^between-tbedifferent branches of revenue, as to the. money or medium
tof payriient in which debts or duesV accruing to the United States, may
*be paid.''
/
.. ;
: •
.: ;
To carry this -resolution into effect, it bas become.necessary to issue
new instiructions to collectors and receivers of public moriey.
/By the pfesent,laws, specie and Treasuiy notes alone are expressly
made; receivable for all kinds of spublic dueSj and. you will of course.
continue to take them till otherwise instfuctedi .
v
/ . A circular Was. issued,, urider the direction of the President o f t h e
United States,; on the. l l t h of July, 1836,. which, after a certain period,
prohibited any currericy froni beirigtakeri in payriient of the public lands
except specie;.no authority for the issue of Treasuiy notes being then
in existence.•
)
' This circular did not order any different medium to be taken for
duties; yet the Various feasons contairied in it were not applicable to the
•revenue from custonis^ and a practice bad existed before,, and has been
, continued since, to receive bank notes of a certain character in payment
of duties. :^ .
:/ "
^
,
In tliis coriditipn of things,.and without) any new legislation either to
extend the provisions, of that circular t o every branch ofthe revenue, pr
tp- abolish the praPtice of taking bank iiotes for any ^branch ofit. Congress difected, by theresolution above'quoted, that, no difference or dis^
. crimination shall be^ created or continued in fofce by any general order
emanating from this. Departriient.. I t has thus beeri made the imperative
duty of. the Secretary of the Treasury tO: either require the collection, of
the whole revenue,, in all its branches, in gold, of silver, or Treasury
notes, or to permit, under such .restrictioris as thp existing laws impose,
and as the safety of the public nioney may seerii to require, thpacceptr
arice pf bank notes'for lands sold as well as for^ other p.ublic dues.



216

R E P O R T S OF T H E

[183&:

However desirable it may be, on- somP accounts, that the receipts arid
paymerits-bf the General Government shall be in the. currency provided
in.the Constitution, and however inexpedient it may be to give undue,
encouragement to a different currericy, which, by its fluctuations in '
quaritity and value,"often; reriders the; wages of labor uncertain, gives
instability tp the value of prpperty, arid thus eriables the artful to accu-.
mulate wealth at the expense of the unwary, it is not believed that this
Departnient can find a sufficient warrant, in the proceedings of Congress
or in^ public opiriiori, to .justify the sudderi and totaf exclusion, atthis
"time,-bf the, notes of specie-paying banks from reception for public dues
of eveiy.description.
Important changes have also takeri place since July,. 1836, in the condition of the bariks and of business generally, which have diminished
the necessity for unusual checks on-excesses and pyeraPtions.
Influenced by these considef atipns, and by a desire to accommodate the
public debtofs as far as is compatible with the restfictions of law and
the safety of. the pecuniary interests comiriitted to my care, I feel bound
to enforce the uriifbrmity now required, by availing myself of the perriiissibninthe resolution of 1816, to receive the notes of banks, and by
extending,-urider suitable, limitations', the receipt of such notes equally
to all branches .of the public revenue.
:
; ^
/- "
The' limitations as to the . character of the riotes receivable will be;
such as /are required by express laws, or by; necessaiy implicatiori/
Some of these limitations have, always, .except at.onebiief interval, been,
adopted iri practice since the: forriiation of. the Gori^titution, and are
deeitied essential to maintairi.^ sound currency, so indispensable tothe
prosperity of trade •ari;d a healthy state of public morals. Others, have
been intrbduced moi-e recently to promote fiscal cb.rivenierice, the publie security, and an equal standard of value;
-''••/'- ^
' " ?r^- :^ ;
; 1st. You. will, in;oonforriiity to ;the obvious intent pfthe re solutiori of
•1816, take such bank notes only as' are '^ payable^ and ,paid on: deriiandi
= in: the legal, currency of the United • States.''.. ' . " }
2d; You W'ill' receive none of a less denpmination than twenty dollars;
the reception of all smaller denominations beirig virtuaUy prohibited by.the second-section oif the act of April 14th, 1836, which forbids their:
being paid,out to any creditor of the United. States, t h o u g h sra.ailer
notes offered for duties could, from the riearriess pf banks in' most seaports,.be taken, and easily exchanged:before making payments, yet, from the remoteness .of many land. offices from banks,. this xould riot.be
effected there without, much delay'and expense; and as uniformity is
riPW required, the provision, must be: made .generals
:'
;; :.r '
* 3d. Nor will you accept .bank notes of any.derioiriinatiori^unles^ the
^
same be/'' payable, oii'deniand/iri gold or silver poin a^ theplace where .
mwecZ," arid ''equivalent to/specie at * the place where" received, as is
substantially requiied by the last-fnentioripd act iri* respect tb payments.
These requirenients can, iri the, opiriiori of the Department, be enforced
with greater, certairity, and unnecessaiy risk arid loss more surely
avoided.,, by cbnfinirig the receipt,;as has been the usage at some former
periods^ to t h e notes of banks situated within your - State and in; the
adjoinirig States../ The credit of these riotescan.usually be best kripwri,



1838.]

SECRETARYOFTHETREASURY.

,

217

counterfeits of them more easily detected, and specie obtained fof therii
with less delay when it is wanted for public purposes.
4th. You wiU not take.the notes of any bank which, since the 4th of
July, 1836, has issued "ariy note or bill of a less denoinination than five
dollars;" the notes of. all such banks being expressly excludeii by the
eighth section of the act of the 23d June, 183.6.
Great care will be expected from you. iri carryirig into effect this and
all fornier circulars, still in "force; arid particularly is it enjoined that
receivers, be "vigilant to furnisb eveiy. facility, to. the fegis.ters for maldng.
the nioiithly Pxaminatipns, recently required,, of the funds and vouche;*s
on hand) arid tp. griard /against the impositiori upon the land offices, of.
bank notes riot safe or equivalent to specie, and riot well kriown tp be
reeeiva:ble according to the spiiit of these iristructions and the manifest
intentions of the ;acts of .Congress which they afe designed, to enforce.
Respectfiilly,"
L E V I WpODBURY,:Sto^^^
Treasury.fi:,

' / ' •

. -

: / •

•-"

'

•

T

'

: '

^ • . . • . • . - : / . ' . . / r

/

•••

•

•'

•

. / • ; • :

Circuldrto all Collectors-and Receivers'h^
-

:

'

TREASURY DEPARTMENT, Jz^/i/"^j

1^^9*

Corigf ess having passed the follbwing act,, the fourth limitation specified.
in thP circular of this/Dppaftment, issuod.Von the; 1st day of June last,/
will be considered as tnodified sp as /to /conforni to the present law:
AN A C T to modify the last clause, of the.rfifth section of the deposite act of the twenty-thiird
of June, eighteen hundred.arid thirty-six.

Be i t enacted/hy the Senate, and House ofi Representatives ofi the United/
States, ofi America in Congress assemhled,' That the .last clause of the fifths
sectiori of the act entitled ''.Ari act to regulate the. deposites of thepublic
money," approved pn the twenty-third day of June, eighteen hundred and .thirty-six, declariiig that the; riotes.or biUs of no bank shall be,
received in;payment pf any debt due to the United States, which shall,
after the fourth day of July,. in the yearorie thousand eight hundred and/
thirty-six, issue ariy note or bill of a less denPminatiori. than five, dollars,
shall be, and the;same is hereby, so far. modified as that the intefdictio.n
as to the reception of the bills and notes .:;shall not coritinue against anybankwhich.has,. since the said fourth day pf July, in the year one thousand..eight huridred arid thifty-six, issued bills or notes of a less denoiiii;^
nation thanfive/dollars, ofwhich shall issue any such, bills or notes prior-,
to the first day of October,, in t h e y e a r eighteeri hundred arid thirty-eight,
but that,;frPm and after the said, last-nieritionte.d day, the bills or notes
of no barik'shalf be received in paymerit of ariy debt due to. the United;
States,..which .bank shall,, after thati date, issrie, reissue, or pay out any
bill pr note of a;denpriiination less than five dollars.
Approved July 5,; 1838. ' / ' \ -••
;
' , .
• IRespectfiilly, '

] L E V I WOODBURY,^ Sea-eta/ryofthe Treasury. V




F.-=—Comparative stdtement of the condition ofi the Banks in the different divisions ofi the Union, according to. returhs dated nearest
January I, 1837, and January 1, 1838.
/
'
'^
.
Number of Banks
and branches:.'

• Capital.

Loans and discounts.

^
^

Sto.cks.:

Division in which situated.

;, 1837. ^a838. •

Eastern . . . . . . . . . . .
Middle.....,..:.,.
Southern- . . - . . - . . . - •
Southwestern ^ . . . . ';
W e s t e r n . . . . . . . : . . ;;
Pennsylvania Bank
of United States:. ;-

314
212
;82
': 83
78

:
:
:
.
;•

--ll. ;

• Total 4 . : , . ^ : . . ; ' 7 8 8

321
213
8:9
: 94
.?2.
20

1837,

1837;

.

' lassv-;"

• $.62,172,720 $65,257,540 $98,651,703 $93,575,135
^ 78,464,949 81,169,776 • 154,047,085 127,740,077
• 31,444,448 32,111,573 62,036,190 56,337,073
; 62,307,111 75,048:, 052 112,554,311 122,305,066
; 21,392,863; 29,049,837 . 40,438,704 40,492,662 ;
35,000,Q00 • 57,393,709

: 35,;OOO;GOO

;i837.-.

. 18,38. • -

$553,904.
6,536,234
3,084,724
152,000
2,080,25.0

$6.47,731
8,607,394
2,822,912:
2,022,459 '
4,946,0.00

45,181,854.

.;829;- '290,772,091 317,636,778 525,115,702 485,63i:,§67 • 12,407,412
'

NoTE.-'^In
. . - r .
. In
./:
In
: In
:^ ••., In

- 1838. .

••

•

'•

•

.

;

•

;

;

.

.

;

•14,8:62,108

33,809,604

m.
O^^^:

ffi'
w:

.

the eastern division are includred'^ Maine, New Hampshire, Vermont, MassachusettSj. Rhode Island,, and
X/! onnecticut.^
';
. '
.
.
..;
•
. ::
' /
the mid:dle. New York, Pennsyl^^^
New Jersey, -Delaware, Maiyland, and the district of Columbia.
the sputhern, Virginia,^North.^C
v'
the southwestefny Alabama,/Louisiana, ^^^
^ '
:'
.
the, western, Kentucky, Missouri, llhnois, Indiana, Ohio, Micbigan, and::Wisconsin./
. ;




O.

00
CO
GO

S T A T E M E N T F—Continued.
: Number: of Banks. | .
- and branches. .

,

' ;. - , .Keal.estate.

00.
CO
00..

Other, inyestinentg.

Due by other Banks.

Division in which situated.
..

"

' '

•

,

.

.

'

'

;

•

'

;aS3!7.:: • 1838..

1837.

: ' 1837.

" 1838.

1838.

1837;

1838.

GO

O
Eastern . , , . .
..
Middle/......:,.:.: :
Southern . . . . . . . . .
Southwestern . . . . . "
Western. .;-...,..•... :.
Pennsylvania: Bank'
of UnitedStates;..

$41,616 '
321 ' $1,768,440 $1,866,163
$177,744 $6,788,935 "
314
212 i 213 • .8,032,15.0; 1 5,438,757 ,, 4,285,6.48;. ;,.:.4,388,516 i -26,535,986
89
686,380
^82
3,272,151
5,571,205
690,507
2,211,341
• .83
94 • 5,296,646
533,876 "• ;7,182,78'4 ••7;867,81i'
6,096,672'
948,919 , 10,625,375: •
897,216 , 337,669 ;
78', , 92., :..,. 518,77:5
19 r

.2® ; .1,237,099 : : 1,504,772

4,534,314 :; 10^809,774 ;.. ;2,284,598v. :

$8,534,440
31,928,397
4,653,404
5,626,321
3i795,,340

o.

3:,6.57,251
^'

^ ^ : ; , T o t a l : : . : . : . , : ;78:8: : :82;9;

1,9,,06:4,451. ; 19,075,731

10,423,63Q- .24,194,117
!

'•

•

•

••

'

59,663,910:

58,195,153

t '

>
at

NOTE.—In the. eastern division are included Maine, New Hampshire, Vermont,^ Massachusetts, Rhode Island, and
Connecticut, •
. ^
.
^
'"
'/
In the middle, New York, Pennsylvania, New Jersey, Delaware, Maryland, and the District of Columbia.
In the soutbern, Virginia, North Carolina,, South Carolina, Georgia, and Florida.
In the southwestern, Alabama, Loui.siana, Mississippi,. Arkansas, and Tennessee.
In the western, Kentucky, Missouri, Illinois, Indiana, Ohio, Michigan, and Wisconsin. ,.



to
CD

S T A T E M E N T F—Continued.
X

" •

•

Number of
. Banksand
Division in which. sit- branches.
' uated."
"'

Notes of other Banks.

1837.

18:37; 1838.
'

-

•

•

•

,

'

•

'

•

1838.;

Specie funds. ,

1837.

1838.

Specie.,.- • ' '

1837:

-'i838.. ;

to
to
o

Circulation.

1837.

•1838.;

.

E a s t e r n . . . . . . . . 314 321 $4,745,817 $3,952,019 $1,874,152 $228,462 $2,588,973 $2,902,980 $22,513,292 $18,307,544
M i d d l e . . . : : : : : . • 212 • 213- 19,083,345 9,100,540 .3,268,648 618;277 11,887,557 9,937,187 •45,076,371 •29i631,248
SoutheiTi... - . . . . . 82 "89 • 3,451,474 2,727,429 S23,70G 16,872 .7,178,864 6,145,384 28,483,170 20a56,891
. 83 94.; 3,518,017 •6,014,927
Southwestern
;40;,395 6,429,049 •4,984,6.16 24,346,667 25,194,559
W e s t e r n . . . . - . : . . • • 7 8 ; 92 4i528,120 > 2^302,742
7,19,2,448 7,443,103 17,318,422 16,080,601
'Penrisyr a B ankof
2,638,449 _.3,770,849 ,11,447,968 :.6.,.768,067
' Ithe U.j States-. ; ' i ^ v'20 1,206,754 ; 866,597

fel

w.

i

;.:; .Total:.:U: ;.788y .•829. 36,533,527 24^964,257 5,.366,;50.0 904,006 37,915,340 35^184,112 149,185,890 116,138,910
NOTE.—rin the eastern division are included Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and
Connecticut.,* "
•
/..-•fi.-': : ^' '
<
;^
:
:: :. •
' : , %
.
.^In the middle. New York, Pennsylvania, New Jersey, Delaware, Maiyland, and the. District of Columbia.
. : ;• Jmthe southern, Virginia, North Carolina, South Carohna, Georgia, and Florida.
In the southwestern, Alabama, Louisiana, Mississippi, Arkansas, and Tennessee.
. . / : •
In the western, Kentucky, Missouri,.llhnois, Indiana, Ohio, Mic^



06
CO

00

S T A T E M E N T F—Continued.

00
CO
GO

Number of Banks
andbranches.

Deposites.

:

Due to other Banks.

[

Other Uabilities.

. Diyision in whiph situated .
^:!.':.•V.'•^:^^.:/'^•-•.'^.:"-":^;^

.1837. •.,..1838.. ,. ,1837. '

...1838.

. ,;• ,1837.

1837.

. . 1-S?8. .
•

-

• .

:

1S38. •

-

=

GQ

W
O

V.

321 $15,505,933 $ll,412",-803 .$6^428,863 $6,906,442 •$6,993,810
3-14
Eastern^ w"vi^:.i.v. ^ . . ..i.;;
2.12, 213 53j009,882. 31,999,866, 30,379;347 "28,22d,.448^ 16,288,248
:Middle ...;.v.-:.i.,..-;.;...:.
Southern.'.".-".. .:.\...v-',:.'. - ,'82. = .•;89' 15,182,406. > 9;7()7,821 - 4,^9^v900 ,3,356,782' 1,554,991
.83
Southwestern.:. . - : . . ^ . . . .>
94 ' 22,137,627 i8i-874,996 16,120,192" •16,226,^42 2,997,734
,19,228,928 .10,078*505 : 3,729,676; ..%348,,397' .1,799,140
Western.• .••.••• .'-fi-^'. i-:.....--'^.• , 78.'.
;: ;-92Pennsylvania Bank of the
.United States. .-:."...•.. ••; ; i ; 9 ; '
.-2^332,409 ,^ .2,(317,253. ,1,365,240 ;4,957,291 ; 6,926,366
: .20

$6,488,955'
14,650,718
3,941,682
11,019,634
-3,370,222
.20,524,568
•

"

'

•

•

•

"

>

o

"^

M

"

H
Total............

•78.8
829
- '" ' '.

127,397,185

84,691,184 62,421,118 61,015,592 36,560,289 59,995,679
•

NOTE.—In the eastern division are included Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and
.Connecticut.
- '
. ; *
; ; ... ._Imthe..middle, .New York, Pennsylvania, New Jersey, Delaware, Maryland, and the District bf Columbia.
In the southern, Virginia, Noith Carolina, South. Carolina, Georgia,-and Florida. ^
/^
In the southwestern, Alabama, Louisiaha,; Mississippi, Arkan
: ;
In the western, Kentucky,^Missouri,'Illinois,^^I^
, .^ .



>

a

63

JO
63
63^

S T A T E M E N T F—Continued.
Condensed comparative stdtement ofi the condition bfi the Banks in the diff'erent divisions ofi the Union, according to returns dated
nearest J a n u a r y ! , 1837, and January 1, 1838^
• Eastern.
.

Southern.

Middle.

Southwestern.

•

«.,...

1837.

. 1838.

18'37. • '

r83B.•

•

"

1837.

1838.

1837.

Investments supposed to
yield income i . . : / . v . : . . $101^15,663 $95,266,773 $172,901417 $14'6,124,744 $68,021,762 .$63,118,516 $118,5,36,833
Excess of such investments
beyond" capitabpaid in/_' 38,842,943 :30,Q09^233 . 94,446a6§ ..,63,911,688 36,577,314 31,006,943 56,229,722
Total of immediate habih• ^ lies .-.^j^'.:.'/. Jr.^'s: jfi.-J../ - 44y448,088 36,626,789 128,465,&0d .•89,851;50.2 48,063,476 33;221,494 62;604,48'6
.Total of imniediate means. • 15,987,877 15,617^901 ,60,775,53d 51,584,301; 16,425,243 ia,548,089' ,17,814,877
Excess of immediate iiabil.^ ities beyond immediate
• .means.'.-........
. . ' '28,4-60,211 •21,0-08,888 '67,690,06-4 • :38,267,-26l 31j6-38^33 19^678,405 44,785,609
^
Totalof means. - w
117,003,540 110,884,674 233,676,653 197,709,045 84,447,005 76,661,605 136,351,710
Totalof habilities exclusive
' of those to stockholders. 51,-441,898 43,095,744 144,753,848 104,504,220 4;9,618,467 37,163,076 , 65,602,220




5^
Q

m
O

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00
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StATEMENTF—Continued.;
Southwestern. ':

•

Western.

18^7. ' „.

1838. ; :

00
CO
•00

Pennsylvania Bank of the
United States.

•• .
'

1838...-

. .

.

.

•

.

•

•

1 ' • ; : ^^'.;-Total.
'

1837;.; ;•;: • :1838.;' ^ • :-i8S7,:,
'

. • 1838.

Irivestments ;Supposed^ to
. yield incoine i . . : . . : . . . ' . . $137,606,981 $43,370,348 $47,284,797 $63,165,122 $72,S58,-508 |567.,OiO,B'9S 1561,7(30,319
Excess of such•investmeii'ts
beyond eapital paid in^-. 62,658,929 21,97^,535 1«,234,960 ;28,165,122 37,358,508 276.,238;-,.804 243',1.S0,261
Total of immediate habihV tiesw. .-v-^,'.:.- ,.•..•....-•. 59,295,797 40,276,926 : 28,507,493 15,145,617 14,342,611 339,004,113 261,845,686
Total of inimediate means.. •16,666,259 •22,345,943 ; 13,541,188 ; 6,129,801 8,294,69(j 139,479i277 119,247,428
Excess of inimediate liabil<
. ;•' •
- ities beybnd immediate
. ..means-.....'-^.-;.. ^^ w. ^. 42y629,538 17,930,983 14,966,305
9,015,816 6,047,921! 199,524,916 142,598,258
Total of m e a n s . . . . . . . . . . . 154,273,240 61,301,381 60,825,985 69,294,923 80,643,198 706,490,172 704,358,577
Total of habilities exclusive
of those to stockholders. 70,^5,431. 42,076,066 ' 31,877,715 22,071,983; . 34,867il79 375:,564,482 321,823,365




: • ' •

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63
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[1838i

R E P O R T S OF T H E

224

• ; • ' :

••

: . : ( ? . ; ' : - • , - ' .

•::

Statement exhihiting the value of Bjdlion and SjKcie impo'>:ted and exported
during the year ending on:the SOthof .Sept^ber, 1838.
'

IMPORTED.

1837.
1838."
183.8..
1838.

BULLION.

; Silver.;

Gold.:,

4th q u a r t e r . . . . ,
1st. quarter..:. r •:
2d q u a r t e r ; . . . .
*.3d quartern..-

SPECIE.

/

Gold.-

,.

Silver.

$22i97a $106,746 • ,$526,330 $1,350,350
. 8 3 , 3 6 4 .; 107,773 •
833,038, ;i,261,8£i7
48,142;;, 8,531,701 1,959,9,64
:.'.5'2,78i;'
19,295;- i;510,686
898,400
137,102:
5,470,611

.29.6;220 ;'28i:95&;>; 11,401,755
EXPOIITED/;

1837.
4th
1838.
1st
1838i . 2d
1838 ^3d

v':;

quarter.. -.. •
quarter;..;.'.
quarter,.-.;^
quarter!.-J.S

' ; •

'

-

•

.

•

. . ' ' • ; • '

.

:

;

-

'

• H

" • $2,6OQ;;
, ; . . ,

•'

-

,

• ;

.

•

;

.

.

•

$373,282; $1,249,16B
: 116,233
158,037.
;i71,631 . •455,165
:'65,837.
683,593

.r ^i50o: :;7'26,38'3

Total imports .- - . ' - . . . . . ; . • . . - . - . . . ; . . . . - . . . . , .
Totalexports ^.......•.•.;..^^..^...,.: :;vl.v^-.:.,•-..-.

2,645,963>
;....:.-...$l7,45.0,542
/.•.:.••.. _3,274,846

Excess of imports;^^..^. ^: if.- y/^::;:._. Z.:.::^..,^

;•,... $14,175,696'

'

.

•

.

•

'

•

•

'

"

•

'

:

:

•

'

'

•

•

,

.

•

•

:

•

TREASURY DEPARTMEIIT, Novemher 29,
•

'

'i''"'^'^:

"'•/•'•"•

. • t?f-"':v--

1839.
.^^

'^

•/ , . • . /

••/'.-

^.•' .•^:

List ofi general Deposite\Banks and: tfve afrtpunt in-each subject to drafit, and
in accordance, with r^^
gi tHe office of the .Treasurer, to. the ist
Decemher, 1838. > '•' 'y'''.•-' .-'/'•j'-'-'.-'^ ' •':'.•' '"'• '. . : '-^ • •'••
^
'••:••
$23,160 39
Brooklyn Bank,- Brooldynv New York . . . .•.,... 1^ -:>.--.. Planter's Bank of Georgia^ Savamiah, G e o r g i a . . . . . . ; . . . ; ' . 2,069 22
3,699 50
Insurance Bank of Cplumbus, .Cdluhibus, Georgia. - . ^ . .
Bank, of the State ^pfMisspuri,; St. LouiB, Missouri Vv i..,., ; 184,101 72
$213,030 83
NOTE,—-The Commercial Bank of Cincinnati; Ohio, did riot .avail pfthe
credit authorized by the act of Gctoher^'183^
the
drafts of the Treasurer upoh the.aiiiPurit'outgeneral deppsite therein.
The ampunt. on general d:eposite, to credit off the Treasurer
; :
of the UmteidStatesi, on i h e ' l s t January,; 183^^
. . $402,395 09
The amount subject to draft, to credit of the Treasurer pf
" .the United States, on the i k ' o f ©fecember, 1838^ i s . . . .
68,848 97
TREASURER'S O F F I C E , l^ecem&er'^'^l^^
\ JOHN. CAMPBEiiLi Treasy/rer ofi the United States.
: *The amount .of importsvand. exports for the third* quarter of 1838, is made up from the'
weekly returns made by the .collectors to.the,Sfecbte^
. .



I. Statement ofi the condition ofi Deposite Banks; oh or near the first day ofi Novemher, 1838, according to returns received at the
Treasury Departmerit,

^

3

State.'

Names arid location of Banks.

-

Date of ".
• '"return.

•Loans and discounts.

Bills of ex. change

Suspended debt.

Real estate.

other invest- |
ments.

:.

»L;New York.."
?^ G e p r g i a . . . .
' Georgia."
Missouri ..--

Bfooklyri .Baiik, at; 'Brooklyn. ." •Oct. '31 '$i58;341
338,456
Insurance Bank of Columbus.. Nov. 1
675,463
Planters' Bank of the State..... .- Oct. 30
31 1,154,411
Bank of the State of Missouri..

65
$98,626
.05 $11,776 98 176,934
56
5,519 06 138,511
08 3^26,406 40 , 4,410

-32 -$•117265
60 20,000
64 11,000
19 ^3,358

10 $4,175 00
00
91 59
00 29,144 94
iD9 247,686 39

2,326,672 34 343,702 44 418,482, 75 85,623 19 281,097 92
" . . .

•"

STATEMENT I—Coritinued.
State.

•.

'New York:Georgia.',...
Georgia
.
Missouri . . .

Names aind location of'Banks. ,

Brooklyn Bank, at Brooklyn..
Insurance Bank of Columbus.
Planters' Bank of the S t a t e . . .
Bank ofthe State of Missouri.




- Date of
- - retiirn..

'fixpeiises.

Due from other Notes of-other
Banks,
Banks on hand. Specie on hand.

$2,204
Oct. 31 $4,595- 55
•Nov. 1
1,402 11 $117,531 11 175,705
Oct. 30
4,334 35 197,309 58 29,705
."
31 5,454 85 373-,081 45 508,24()

96
00
00
00

$2,266
201,781
281,356
681,778

36
79
52
'77

Circulati'on.

$4,267
18,939
152,374
629,220

00
00
00
00

15,786 86 687,922 14 715,854 96 1,167,183 44 804,800 Ool

^
CO

00

to
to

STATEMENT I—Continued.

a
DEPOSITES.

'

New York . . .
Georgia . . . . .
Georgia . . —
Missouri - . . . .

Date of return.

Names and location of Banks.

State.- •
•

-

.

'

.

.

•

Treasurer of ^
the.United Public officers. All other depositors.
States.

31 $28,507 94
Brooklyn Bank, at B r o p k l y n . . . . . . . . October
Insurance Bank of Columbus
. . . November 1 5,699 50
October
30 23,605 06 $88,214 34
Planters' Bank of the State.
''
31 237,301 92
.Bank Of the State o f ' M i s s o u r i . . . . . .

$10,714
103,865256,569
732,739

26
54
06
.87

Due to otherBanks.

$10,918
283,576
177,079
468,700

62
68
60
13

295,114 42 88,214 34 1,103,888 73 940,275 03

-'; -:,._.

I—Continued.

" .

State. "'

New Y o r k ' . . .
Georgia . . . . .
Georgia . . . . .
Missouri.....

-" Names and location of Banks.

Date of return.

Other
liabilities.

Capital stock.

Contingent
• fund.

Profit and loss,
discount and
interest..

':$26,659 12
31
Brooklyn Bank, at B r o o k l y n . . . . - . . . ' . October
$408 00 $200,000' 00
Insurance Bank of C o l u m b u s . . . . ^ . . November, 1
156 16 , 600,000 00 $8,000 00 23,442 -35
Planters' Bank ofthe- State.
October
30
,^535,400 00 111,040 34 28,062 25
•47,615.67
Bank of the State of M i s s o u r i . . . . . . . .
'' '; ^ 31 209,498 85 1,019,750.78




'210,063 01 2,355,150 78 .119,040.34 125,779 39
.:. . *
•

»

.

.

-

•

1838.] • ;

SECRETARY OF THE TREASURY.

• • • . • . . • ' • • . '

•

•^'.'

.

J .

:

'

227

.

List qf. Collectors of the Customs and Receivers ofthe Ptiblic Moneys, havhig'pn2)lic money intheir hatids,
/on'whoni drafts have from tithe to time heeii placed,.a,nd are intended io be continued, for the sums to
.the credit qf,the Treasuver.; showing also the balances in: their hands.sxihject to draft,.in confoimity
withthe returns I'eceived.at.this office up tp Deceniber 3,-1838.
'. ••* ] J- . ..
Date of.
'.- •_^- State.'
• return.
N o v : .24
Oct. . 1
Oct. -.'27
Nov."- 3
N o v . 24
N o v . • 24
N o v . -24
N o v . 24
Nov.- 17
Nov.--" 5
N o v . 24
N o v . . 26
N o v . 24
N o v ; ,24
N o v . 24N o v . '24
NovV. 24
N o v , , 2-4
N o v , -24
N o v . 12
Nov.- . 5
•

•

'

^

' - ' • ;••• T o w n . -

Maine;'..'.-./..'... .i P o r t l a n d . . . . . . .
. V e r m o n t . . .*..... .;/ Burlington.-.*-,.-.
Ma.ssa.chusetJ:s.... Gloucester,.-.....
M.assachusetts".... cSalem....-. .•...-..-Mas'sachus.etts... .- . B o s t o n . - . . . . . . .'
• Mas'sachnsetts..'. -i^ F a l l R i v e r . . . . . .
Rhode I s l a n d . . . . . . P r o v i d e n c e . . . . .
Rhode i s l a n d . . , . . ; B r i s t o l . . . . . . . . . .
Connecticut...... New Haven...:.,
N e w Yo.rk i . . . . . . .- • ' O s w e g o . : . . ' . . . . .
Ne'w York,.....;..... N e w Y o r k , i.-,...
P.ennsylvania.-... .- P h i l a d e l p h i a . . . .
Maryland.....-:;. Baitimore.;...".
Dist. -of Columbia-.' A l e x a n d r i a . - . ' . . .
Virginia'..-!........ Richmond . ' . . . .
V i r g i n i k . . . . . . . . . . Petersburg.•;..'.
N o r t h C a r o l i n a . . . : Ply-mo'uth....'..".
.North Carolina.....' 'Wilmington'.; i .
'South. G a r o l i n a . . .^ Charleston. ^.. ,V
^ L o u i s i a n a . . . . . . . . N e w Orleans;.,.'
A l a b a m a * . . . . . . : ' . Mobile.^:..••....•.

.

'•

' Date of.
return.

' • . • ' ' : -

.

•

% .

: '

"State..

"Nov:^ 24 O h i o ; . . . . ; . : : . . ' .
N o v . : 17 Ohio . ; . . , . . . . . . . . .
NoV.. . 2 4 Ohio
Oct. .31- Ohio
-...-..•.
Sept.-'-- 8 Ohio . . . . . . . . . . . . . .
N o v . 24 Ohio . . - . ; . . . . . . . . .
Nov
10 •Illinois i
Nov.
3 Illinois
M y .21 A l a b a m a . . . . . . . . .
N o v . 19 A l a b a m a . . . . . . . . . .
Nov
10 Alabama . . . . . . . .
N o v ' 19 Alabama . . . . ; . . . .
Nov.
3 Mississippi........
N o v . - 10 Mississippi . . . . . ;
Nov.'. 3- Mississippi
Oct. "20 L o u i s i a n a . . . . . . . .
N o v . 10= .Michigan
.-.
N o v : ' 4 7 Michigan
N o v . 17 Micjiigan . . . . . . . .
N o v . 10: • M i c h i g a n . . . . ; . . . .
Nov.
3 Arkansas . . . . . . . .
Oct.
6 Arkansas.'.,....".
Oct. ; 31 A r k a n s a s . . . . . . . .
N o v . . 10 A r k a n s a s . . . . . . . . .
Oct.
31 Arkansas
N o v . 17 Florida
:..-..
N o v . 17 F l o r i d a . . . . . . . . . .
N o v . 10 "Wisconsin,
N o v . 12 W i s c o n s i n , ; . . . . .
N o v . .10 M i s s i s s i p p i . . . . . . .

• J

Town. _

• Ooll.ectdrs.-£?v.

Amo'unt subject
. ^. to .draft. •

J o h n A n d e r s o n . . . . . . . . ; . •;••• 4 1 0 , 1 6 7 ' 4 7
ArchibaldW.Hyde.....
301 06
' ' • 6,115 34
William B e a c h . . . . ;
.James. Miller, .-i 1 . . . : : . . v . ' " 1.4,440 41
George B a n c r o f t . . . . . . . . • •• •• 57,692 14
* . . 9,283 59 ,Phineas W . L e i a n d . . - . . .
1-9,859. 00
^w.R-: Danforth:... :;,:..•
.Samuel" S;. A l l e n . . . . . . . ' . - . " • - 9,640 00
11,162 69'
.William H . E l l i s . . , > v . . ; .
.. 2,000 00 ..J
'George-H.-Mc'Whprier..
.65,296 2 4 '
• J e s s e / H o y t . . ' , . ; . : . . * . . . '*
27,54132
'.Georg^Wo.if.-....;..;
19,90281 •
.WilliaiTi Frick.:..".^.:'.V...".
;188 88'
^eorge,Brent..... t,..'.-. •
'32 55
oThomas Nelson . . . . • . . . .
• 1,219-97
J o h n W.* Campbell•.-..-..
IOO 00
Joseph^Ramsey'..........
9-67
L;.H.^Marstellfer . . . , . ; . . . "
• 29,592 70
Jaimes R. P r i n g l e . . . . . . . '
.: '
1 92
JamesW.-Bre.edl6ve:.:.. .*
• ' _ 668 32
John. B; H o g a n . , • . . . . . . . .
. -$285,2,16 08
. .

Receivers.

A m o u n t subject
•to-draft.

B u c y r u s A . . . •.. J o s e p h H ; Larwill.^.'......
•,
L i m a . . . . . . . . . . . William.Blackburn ; . . . . . •
M a r i e t t a . . . . . . . . . . Charl.es H u m p h r e y s . . . . . . . •Steubenville... w J o h n • H . Yiers . . . . . . . . . . .
W o o s t e r . . . . . . . James F i n d l e y . . . . . . \ . . .
Zanesville
J o h n Hall.."...-.;.
.,, . .
Chicago:.......... IE. D . T a y l o r , ;
"
S h a w n e e t o w n . . Stephen R. Rowan.,
C a h a b a . . . . . . . . . Matthew G a y l e . . . . . - ' . . . . H u n t s v i l l e : : . . . . Samuel Cruse
A. D. C a r e v . . . : . . . . . . .
Sparta..T u s c a l b o s a ; . . . . , W m . G. P a r r i s h . . . . . . . . ^
C h o c c h u m a . ' . . . James A . Girault.
C o l u m b u s ; : . . . . Francis L e e c h . . . . . . . . . .
Washington....: Anthony W . R a b b . . . . : .
Benj. R u s h Gantt.-.
Opelousas.:
B r o n s o n . . . . . . . . Thomas C. S h e l d o n . . . : .
D e t r o i t . ; . . . . . . . " Jonathan K e a r s l e y . . . . . .
..*.
M o n r o e . . . . . . . . . Daniel B . Miller
Saganaw...:..,. CharlesC, Hascall..
Batesville
Aaron W . L y o n . ' . . . . . . .
F a y e t t e v i l l e . . . . . -Matthew L e i p e r . . . . . . . . .
Helena,.:
: 'D. T h o m p s o n
.LittleRock..... -P.T.'. Crutchfield-..;....
W a s h i n g t o n . . . . Daniel T , W i l t e r . . . . . , .
Tallahassee;... Henry Washington.....
St. A u g u s t i n e . . J.ohnC.'Cleland
Green B a y
T h o m a s Lee
M i l w a u k i e ; , . . . . Rufus P a r k s
.Ppntotoc..-.....'. Solomon Clark.
• •

•-$430.00
23,251.77
9.;613 9 8 .
98 98
• 901 56
• .7,032 79
• ^ 7,^73 03
5,787 17 J
•' • 485-.01 1
789 53
" .503-68
. 441 26
. 224 08
5,701 08
1,650 44
446 62
205 1 6 '
. 6,074 74.
32 15
2,019 40
13 14
97 94
: 3,024-02
2,521 08
245 78
663 70 •
6,535 24
4,355 25
14,580 93
8,203 25
$113,602 .76 1

JOEtiSr CAMPBELL, Treasurer of th^ UnitedStates.
TREASURER-'S OFFICE, December 3, 1838




228

'

R E P O R T S OF T H E
K.

.[1838,

:

List ofi late Deposite Banks in which '^ special deposites'*^ have heeiv made to
the credit (ff the Treasurer ofi the Uniied States; heing in exchange fior
Treasury notes,'Patentfiees,&fc., as well as hy some puhlic officers; andthe
amount ofi such special, deposites suhject to drafit on the 1st Decemher, "1838;
" to which is added the amount suhject to drafit in the Mint and' its hranches,
to same date..
.;•
..
.\
Piscataqua Bank, Portsmouth, N e W H a m p s h i r e ' / w ' . - : . / . ' $14,655- 26
Merchants' Bank,.Boston, M a s s a c h u s e t t s . . . . . . . . . . . . ! . . . : 80,1.55 43
Merchants and •Farmers' Ba;nk, Albany, New York......" •' ',
5 22
Manhattan Comjikny, TVewT^^^ city. ' . . . - . . . . . . : • . ' . . . . . . . . [ : 167,889 22
Bank of America, New York c i t y . . . . . .^...
..
.^. 410,^973 49'
Merchants and J^Iahufacturers' Bank, Pittsburg, . P e n n . . . / • •/' 598 66
, Franklin Bank, Baltiniore, Maryland...:.:.
.......J.
209 34
Bank of Metropolis, Washington, District of Columbia.. • ..29,80.3 19
Branch B a n k o f Alabama, Mobile, Alabama..
..... .
883 00
Gommerciai Bank, New Orleans, -Louisiana . . . . . . . . ; . - . . /
6;970 45
Planters' Bank of Mississippi, Natchez, Mississippi- J.,.;..
23,180 80
Union Bank of Tennessee, Nashville," Tennessee.."..:...; ' 1,191:49
Louisville Savings Institution, Lduisville, Kentucky. - . . .
75,263 .18
Commercial Bank of Cincinnati, 'Cincinnatij.Ohio....--..:-..
• 2,038 83
•'
•
'• .
• • • ^"' • $813,817 56 •
Mint
Mint
Mint
Mint

ofthe United States, Philadelphia, Pennsylvania.. .$1,184,427
of the United States, branch, Charlotte, N. G . . . . , .
32,000'
of the United States, branch, Dahlonega, Georgia.. ^
20,000
ofthe United States,, branch, New Qrleans, Louisiana.'
84,400
"/
•- ' : - - • ' - " '
• ';' $l-,320,827

TREASURER'S OFFICE,'Decemher1, 1838.

-

62
00
00
00
62

: ...

JOHN CAMPBELL, Treawer[7mi^e^

L.-

-.

. V

-^

\

•

.••.

'•.

List ofi Banks in'Which .^^ special deposites^\ have heen'riiade, to the credit ofi the
Treasurer ofi the United States,- derived only firom dehts, due firom Banks,^^
und the ainount in each suhject to drafit, on the Ist/ofi December, 1838.';
Bank ofthe United States of Pennsylvania, Philadelphia. $1,738,488 36
Bank of Virginia, R i c h m o n d . ' . . . . . . . . . . .
................'
32,146 28
' • ;
- .-.--^'..';.
. : ., 11,770^634 64
.

i)ece7?z&er 1, 1838.
'. '
J O H N CAMPBELL, Treasurer United States.

TREASURER'S: O F F I C E ,

*S6me few deposites, derived from debts due from late.deposite banks, have been made, and
placed in banks (see list K) which hold money derived also from.other sources.'



1838.];

S E C R E T A R Y OF T H E TREASURY.

229

M.
Statement ofi Balances, stated to he due tKe United States on the 10th qf
Novemher, 1834, firom Banks fiormerly depositories ofi the fi)uhlic money, as
per report ofi the Secretary of the Treasury to :Congres,s bfi tlie 12th ofi
Decemher, 1834; with, the credits to which they are entitled fior. payments
•since, that date; and the halance due firorn them Novemher IOth,. 1837, afiter
deducting those credits, and including interest firom the date ofi their stoppage
ofipafjment to' that day.

X
. ]

Name and. style ,of the Bank. ^

a.-

-

Balance due Novem- Payments made]
ber 10,1834, per re- since the 12th
portof the Secretary
of the Treasury of ' of December,!
December 12,1834. 1834. .

LSI 7 Saline Bank of-Virginia. - - . ' . . . . . . $10,021 00
1817 /Juniata Bank of P e n n s y l v a n i a . . . . , .
3,200 00
1817 :Bank of Washington, Pennsylvania..
-, 2.,484-57
1817 Gumberland Bank of Allegany . . . . . . .
1,176 61
$548 6 2 '
1817 Bank .of S o m e r s e t . . . . . . . . . . . . . . . . . .
55,273 41 3,013 27
1817 .Miami Exporting C o m p a n y . . ' . . . ' . . . .
8,791 00
1819 Farmers and Mechanics' Bankof Ginn.
36,966 01
1821 Bank of V i n c e n n e s . . . . . . . ^ . . . , . •...
168,328 27
1,160 00
1821 Bank of Missouri. . . . \ . fi . . . . . . . . .
113,552 22
T8P1 Bank of-Edwardsville
' 46,800 00
.1822 •German Bank of Wooster. . . . . . . . . . .
39,364 00 4,966 i91
1823 Centre Bank.of P e n n s y l v a n i a . . . . . . . •'. 8,928^48;.
1823 Franklin Bank of A l e x a n d r i a . . . . . . .
48,000 00
1824 Bank of C p l u m b i a : . - . . . . . . . . - - . . . . , ' 215,287 61,
1825 Bank of Illinois, Shawneetown......
-28,367 85- 25,173 16
1825 Farmers and Mechanics' Bank of Ind.
23,325 00 20,647 55
1825 Bank of S t e u b e n v i l l e - . . ' . . : - , : . . . . . . .
134,086 38 2,082 84
1827 Tombeckbee B a n k . * - . . " . . - . - . . . . . . . . 83,910 64
1828, Bank of N a s h v i l l e . . . . . . . . . . . . . . . . .
6,267 00
6,625 86
1831 Bath Bank, of Maine.. . - • - ' . . . . .
20,62'3 65 3,103 55
.
1834 Bank of A l e x a n d r i a . , . . . . , . . . , , . . .
7,957 00
21,200 ;30




$l;075,954 00 $75,278 76 1

230
•

,
:

R E P O R T S OF T H E SECRETAIIY, &c,
':•

••

. ' • .

.

'

' - t

- N . ; ' '

.

'••

\

. -

•;.

; [1838:
• . . _ ; ' "

•

•

List ofifiormer Deposite Banks- which suspended Specie payments,: and gave-'
honds to ithe. United • States,,, 'under the provisions ofi <the' act ofi 16tK. Octoher y
•.1837, and have not piaid the whole halances diie; -together with tJie sums due
to the • United States .firom ' each, .hythe Treasurers hooks, on . ihe.^d.^ofi.
fiDecemhef,. 1838,.iigt including intei-esti'_:: .-.
'' ^ r . fi/'•.-''" -..
'^
Commercial Bank, B u f f a l o ^ . . . . . . . . . . - . - . . : . , : : . / . : : . . ; . ; . . .• $16';670 5.1
Branch of the Bank of the .State of Alabam-a; Mobile.V-i- '..592,429.57...
Planters' Bank of Mississippi, •Natchez.. .•.:•..;..:"..•.. I.-. .^. ^. 397,18?'49 . ."
Agricultural Bank, Natchez.. . . J . . . . . : . . . . . /w........ .•.'.. . .531-344-IA. '.".
.Banli of K.entucky, L o u i s v i U e . . . . . .,.1V .--.firi..,-- -^^ - -: .. ^ ^ ^ ^ k % .
Franklin Bank of Cincinnati.... ? . . . . : . . i . . . ^ . . . . ^..% . ' 55,257 05-. ".'
\ State Bank-of Indiana.. .'i.V-:
/ . . . . . . - . . . . v . . . , . - . . . .206.>034 .78' .
Bank bf Michigan, D e t r o i t , . . . . . , l- ^. ^. .::.•.... - > . . . . . . . . , .333,020, 46^ '.
Farmers'and Mechanics'" Bank, .Detroit.-:....:..... fi.... 186,0^8'41. *
.
^,345,535 75 •

• [ / T o .Collectors'and Receiver's ofi puhlic M
•

". ; .'.- •;•• .•; ••' / T R E A s y - R - y DEPARtjviENT^;J?^^^^

Co'ngre&s" ;having adjourned; without malahg-. ,any additional-.prbyi'sion.'
for .the;security, or safe keeping:of the.piiblic mo;ieyj*.it is obvious, .thatj.in.
the present state of the laws and ofthe ba,nks, ah. ^unusual. resppnsibility .
devolves jjijpdn those who co.llect the"revenues of the Oeneral Government.
The- difficulty in ••obtaining suitable depositories.Tor itV./as .Well -as J n
transferring/or "paying it oiit conveniently,-without the aid of that, further
legislation thenecessity and character6f>which.:ha^^
e-xplained .
in pubhc.cqmmu;iica:tiohs.from this D p a ^ ^ ^
e ^^ ^ ^
imposes on all collectbrs
and receivers the dut}^ of fextfaprdinary yigilancfe; tod; cai;e.-. - •:. •.. /. ^ • •
. 'The President expects that exJertioiis rcorresponding to: the .occasibn
".will be ,clieeifully ma/de by*'every officer^ a n d ' t h a t lib; ^
.
sparedto iiave. all the lawsy as. well a s t h e regulations "and instructi
'
of the.Treasury Department', scru:puloiislyKenforo*ed. 'Accuracy in.yoiir..
accounts'-; punctuality .in returns; promptness, dn. your - deposited and
payments,. and an .entire .forb§.g,rance; to.:use;any :pa:rt .of-the^ public.-funds •
. for private, purposes, will, it is = hop'e.d, •charaLcteriie the' 'whol^- class 'of
.collecting pfficers hdre'after... In. tlie \pres.enti conditipn of things, if -aiiy '
departure from such a course-should unfortunately: occm**, it will. .be. much,
regretted; and however unpleasant the .task^' an. 'exeraplary -and' severe.
notice'of theirregularity wilbbecom^ necessary, in order, to secure the
great pubhg interests.involyed in the subject.: The duty on'the. part of
pubhc officers tp.;abs:taih from the, .employliient of<the.public-mpney fbr
private advantage is so ap.parentj that ho excuse .wbatever for'i
.
d.isemed admissible. '. -.- - .• '. • ^'-''. :
• R e s p e c t M y yours, : LEVI" VIOODWO^Y^Se(^y ofithe^Treasunj. 


INDEX,

A.
Alexandria city, the debt of, assumed by the Federal Government
'
273, 352, 357, 358* 371, 385, 483, 504, 630, 651
Allowances—seeFishing Vessels.
Appeal/the right of, to the Supreme Court should be allowed in cases involving an amount
of duty
....
617
Appropriations, detailed estimates of, for 1838.
. . . .123, 124
for 1840. ...
298, 299
for 1841..
.•.
,..390,391
Appropriations, in aggregate arid detail, made for 183?
.. <124 to 158
......
299 to 334
made in 1839
made in 1840'
.... . .391 to 424
Appropriations, in aggregate and detail, made by former acts of Congress—
' for the service of 1838.,
...123,158
for the service of 1839
..... '
181
for the service of 1840..
"...
298,334
for the service of 1841..
390, 424
existing, required for 1837 and former years, to be expended in 1 8 3 8 . . . , , 123,
-159 to 170
existing, required for 1839 and former years^ to be expended in 1840... . 298,
335 to 346
existing, required for 1840 and former years, to be expended in 1841
390,
425 to 436
suggestions in 1838 that prudence requires a reduction in the annual
186
which will probably be carried to the surplus fund in 1837. ,.123, 159 to 170
"
in 1839
298, 335 to 346
in 1840
390, 425 to 436
existing, not required for 1837, proposed to be applied to 1838.'. 123, 159 to 170
1839, proposed to be applied to 1840. .298, 335 to 346
1840, proposed to be applied to 1841. .390, 425 to 436
views" in 1837 in regard to the difficulty in paying the, and on the issue of
Treasury notes
,,,
..«*
7
a reduction in the* for the year 18.40 recommended, to prevent a deficit.
234
estimated amount of new, in 1 8 4 1 . . . . . . . . .
...o
358
the outstanding and unexpended in 1837, charged on the Treasury
3
the outstanding, unsatisfied at the end of the year 1837, estimated
. 91
the'outstanding, unsatisfied at the end of the year 1838, explanations as to
the
... .
<
180
the'amount'of, estimated to be uncalled for at the end of the year 1839... 235
the estimated, to be uncalled for at the end of 1840
a*
358
the amount of the, for 1837, to be applied to the service of 1838, without
reappropriation
„
91
the amount'of the, for 1838, applicable to "the service of 1839.
180
the atriount of the, for 1839, which will be applied to the service of 1840,
without reappropriation..
235
the amount of the, for 1840, which will be applied to the service of 1841,
without r e a p p r o p r i a t i o n e
*
<.
. 358




686

njTDEX.

Appropriations, the balance of, outstanding on the 1st of January and 4th of March, 1841.
a lessening of the, f<?r the service of 1841, recommended as a means to preserve a balance in the Treasury
.
beyond the estimates, views in 1837 in regard to the indefinite and the
outstanding.
,....„...„.,.. i i . 1
to pay the debt of the District of Columbia to Holland
.,..
,
Army.—Estimates, appropriations, and expenditures on account of the—see Military
Service.
Attorneys, United States, circular to, in 1837..
.....

448
361
0 1
91
36

B.
Balance in the Treasury 1st January, 1836, including trust funds. . . . . . .
88
1st January, 1837
.1, 89, 175, 605, 627
30th June, 1837...
3,441
1st January, 1838..
90, 91, 176, 178, 256, 627
1st January, 1839
175, 178, 231, 255, 256, 371, 629
1st January, 1840
.351, 371, 372, 437, 627
1st January, 1841..,
.438, 461, 462,. 605
4th of March, 1841
...
"
438, 439, 441, 486
1st of January, 1842.
, ..
.485, 598
IstofJanuary, 1843..,.,
"....'.'
487,599
1st of July, 1843
,
598, 600, 678
1st of October, 1843
,
„
601
1st of July, 1844 . .
..
667, 673, 680
nominal and actual, at the end of each year from 1837 to 1843. .626, 627
on the 31st December, 1836, exclusive of trust funds and outstanding warrants...... ...... . . . ..
.. , . , . . . . . "
627
Balances in the Treasury, views in 1837 in regard to the
• •• •
.91
views in 1838 on the policy of avoiding large.
184
unavailable
,
.178,'372, 599
Balances estimated to be in the Treasury on 31st December, 1838, and views in regard to". .93, 98
on the 1st January, 1839
177, 178
on the 31st December, 1839
.180, 232, 234
on the'31st December, 1840
234, 255, 352
on the"31st December,-1841
. .i
.:357, 358
on the 30th June, 1843
.
488
on the 30th June, 18.44
488
on the 1st July, 1845. ..
. . . . . .'.'. 669
on the 1st July, 1846
..........
^670
Balances of public money due by the late deposit banks, December 12, .1834
229
due the^United States—see Banks—see Bank United States—see
Bonds.
of public money subject to draft, 4th'March, 1841.
•
. . .449, 452
Balances, of appropriation outstanding on the 1st of January and 4th of March, 1841.
448
Bank capital, discount and issues, a cause of the financial embarrassment in 1836-57.
-30
Bank notes, not. receivable in payment of duties, &c.
,„.... u
.
.43, 47
circular from the Treasury Department in 1789, with regard to the receipt for
duties and transmission by mail of. . . . . . . . . . . . . . . . . .....
.
53
Treasury circular in 1790, in regard to the bearing of the collection law upon
;the receivability of, for public.dues..'
..„..,.
.. . . .
54
the circulation of, in 1837.
.....
103
.the conveniences of, when equivalent to s p e c i e . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106
the effect of the. curtailment of the issues .of, in bringing about a resumption
of .specie payments.
..... „
. . . 190
act of. Congress of July 5, 1838, in relation to.
217
the exclusion of small, from circulation advocated in 1839..
• - . 252
Bank of the. United States, the amount of "the" bonds due by. the,
3, 234
concerning the restriction on the sale of the .bonds of the
182
the creation of a, recommended'in 1 8 4 1 . . . . . . . . . . . . . . .
447
bonds of the, outstanding and falling due to the Treasury in 1837,
1838,: 1839, 1840, and 1841. . . . . . . . . . . . . . v r „ " . " . . ' . . . .
455
receipt into the Treasury from the bonds due by the—
in 1837. , ...
;
„
90
1838
.
92, 176, 178, 256
1839.
v............
180
1840
.'..'
,.....:
351, 437
1841;.
..:
; ; . . . . . . . . . .438, 461, 462
the condition of the, in-1837.and 1 8 3 8 . . . . . . . . . . . .218, 219, 220, 221
warrants drawn on the
*.»........,...,...
61
in 1816 did not prevent revulsions-in trade, and finanpial embarrassments
368




INDEX.

687

Bank of the United States, views in 1841, in favor of-a, as a "fiscal agent-of the Government .-.
........
..........
. . . .445, 446
Banking, its conveniences, advantages to trade, &c..
.......
. . . . . . . . . . . 102
free, the preferable system of. .•„ . . . . . . .
369
Banking institutions, a reform in, suggested to the States in 1838
191
views in 1839 in regard to the condition of, generally, and the kind
of money receivable for public dues.
,. ..,
..
249
Banks, the deposit, views in 1837 in regard to the condition of, and to a settlement with
the former deposit. „ „
..
........ ... .17, 102
letter to the Executives of the States, with the postscript as to the ret/urn of the
transfers in case of <the nonpayment of the deposits by the.
..
51
Treasury circular to the deposit, discontinuing those which had .ceased to pay
specie for-their n o t e s . . ' . . . . . . . . . . . . „ , .
..
...
55
list of the deposit, discontinued under the act of June, 1836. . . . . . .
... .. ..
57
of deposit, list of, retained under the act of June, 1836,
...
58
(collectors of the customs and receivers of the public moneys made depositaries in
case of a suspension of specie, payments' by the. ,u,
...,..'...
. . . . . . . . 59
views in 1837 on the,circulation and ability of the, to resume specie payments... 103, 105
the deposits of Government funds unavailable for the service of 1838... „ . ..
.177, 178
the deposit, including the United States Bank and branches, the number and amount
of warrants drawn on the, in the year 1834.. .. .-..61
comparative condition of the, in certain particulars, in November, 1836, and in
March, May, July, and August,1837
...
. . , . , . 64
state of the accounts of the former and present, with the Treasurer of the United
State's.
.. . . . . . . . . . . . . . . .
65
statement of the condition of the former, on the 15th of August; 1837. . . . . . . . . . 70
Treasury circular of J^uly 3, 1837, to the former, urging the resumption of specie
p a y m e n t s . . . . . . . ....
,,-..
86
views in 1837 in regard to the availability of the balance of Government funds in
the coffers of the
........
91
recommendation, in 1837, that the notes of-local, specierpaying, only, be received for
lands
....
.. ..
.. .,. .. 25
views in, 1837 in regard to the, and the safekeeping of the public moneys
102
comparative statement of the condition of all the, in the United States, on and. near
the 1st of January, 1836, 1st January, 1837, and since the suspension of. specie
payments........
. . . ..
172
comparative condition of the, in fifteen States, before and since the suspension of
specie payments.
............. — . , , . . . . „ „
...........
173
the further credit.extended to the, and the ultimate and ready settlement by the, & c . . .97
views in 1838, in relation to the resumption of specie payments by the
188, 191
comparative statements of the condition of the, in the different divisions of the Union,
according to returns dated nearest January .1, 1837, and January 1, 1838. ..218, 222
views in 1839 in regard to the, in connection w;ith the safekeeping of the public
moneys.
,.. .. - , ;
245
the use of the public money by the, for discounts, unprofitable.
„...
192
concerning the system of special deposits with t h e . . . . . .
193
deposit, statement of the condition of the, on or near the 1st of November, 1838, &c. .225
losses by the .deposit, in 1834, small compared with those of 1837...
„
194
list of.general deposit, and. the amount in cash subject to draft, , in accordance to
returns received to ,1st December, 1 8 3 8 . . . . . . . . . . .
—
224
list of the late deposit, in which special deposits have been made,..&c., .and the
•amount ofspecial deposits subject to draft, 1st December, 1838
228
statement of balances due the United States, 10th November, 1834, from banks
formerly depositories of the. public money, with the credits to 'which they are
entitled for payments since that date, &c.
...
.....
. . .229
list of former deposit, which suspended specie payments, and gave bonds to. the
United States, under the act of 16th October-, 1837, and the amount of balances
due by them on said bonds on 3d December, 1838, &c... . ..
230
statement in 1839 of public moneys to the credit of Treasurer of the United States
in the two general d e p o s i t . . . . . . .
346
statement of the condition of the deposit, to the 20th November, 1-839..,
347
estimated payments into the Treasury in 1840, out of the moneys due by the former
deposit.. , . . . . . . .
.....
, , 351
available funds in the depositj in'1841. ,
....
357
"balances of the deposits with the, .prior to-the-suspension in .1837
, .451, 454
amount of .special deposits with the
., .
.....
.451, 454
debts due by the, in 1837 to ,1841, inclusive
....
455
lists of general-and special-deposit, in .1843
.•
„...
.^628
list of deposit, in 1844.
"
683
in the-District of Columbia, concerning the resumption of specie.payments by the.. 21
insolvent, Government funds in th.e,,unavailable. „ . . , . . . „ ;
91, 177, 178




688

njTDEX.

Beaver cloth, the prices of, in 1842. „ „ . „ . . « i . . .
, ..
. . . . . 508
Beef, cattle, • hides, &c., exported annually from the United States, from 1790 to 1838
inclusive, the value o f . . .
..
... . . . . .
287
statement of the |value of, exported' annually from the United'
States, from 1821 to 1842, inclusive; and of the countries to
which exported.
.
.645, 646, 647
Bibb, Secretary—see Finances.
Bonds due by the Bank of the United State's—see Bank of the United States.
Bonds for duties, concerning the payment c>f.......... , , . . „•.......
3
for duties, considerations in 1837 in regard to the postponement of the payment of..
4
circulars of the Secretary and Solicitor of the Treasury in regard to the postponement of the payment of..
. . . . I.
...........
. . . . . . . ... .33, 36
memorial of the New York merchants, in 1837, to the President, for the .stay of
the collection o f . . . . . .
. . . . . . J.
......
..
°
......
38
memorials of the Chambers of Commerce of Boston and New Orleans on the same
subject... .'
...I
. .
40,41
Treasury circulars to the Boston Chamber of Commerce and the Collector at .New
York, in regard to the kind of money receivable for, &c..... , u
,.43, 47
.memorial of the Chamber of Commerce of New York, August 28, 1837, asking
for a postponement of the payment of duty bonds
..
49
views in 1837 and 1838 in regard to1 the extension of the credit o n . , .
..
97, 190
..
..
....
360
Bounties and drawbacks, a modification of the, recommended in 1840.
on pickled fish exported, payments for, from 1821 to 1842.
, .,...
635
Bullion and specie—see Imports—see Exports.
Butter* cheese, &c., exported annually from the United States, from 1790 to 1838, inclusive, the value o f . . I
...
28 7
statement of the value of, exported annually from the United States,
from 1821 to 1842, and of the countries to which exported. .645, 646, 647
C.
Calico, imported and American, the prices of, in 1842
„„...,.-„.
508
Certificates, without interest, recommendation, in 1837, that, be issued and made receivable
v.....
for public dues., . . . . . . . .
...
..
25
Clerks, submissions for the appointment of new. „ . . . . '
. • 157
•
Clerks—see Customhouse.
Circulars—see Treasury Circulars.
Civil, diplomatic, and miscellaneous service—
estimates for 1838
- .123, 124, 138, 156, 159
estimates for 1839.
..
i ...
"
181,232
estimates for 1840
235,, 299, 331
estimates for 1841
;
.358, 390, 421, 440, 462
estimates for 1842
..
..
486
estimates for 1843
487, 601
estimates for 1844-'5.
..
..
.488,603
estimates for 1845-'6.
..
—
669
appropriations made in 1837.
..
..
124, 159
appropriations made in 1839.
.. ...
< .299, 331, 335
appropriations made in 1840
• .391, 421, 425
appropriations made in 1841
438
expenditures in 1837
'
109, 175
expenditures in 1838...!
» .. .177, 178,- 201, 256
expenditures in 1839
..
232,257, 371
expenditures in 1840 .
352, 373, 437
expenditures in 1841
.....
438, 462, 471
•expenditures in 1842
.486, 492, 620
expenditures in 1843-'4
600, 623, 678
expenditures in 1844-'5.
^ ..
668, 680
Coast Survey, the progress of the, &c
:
;.
.108, 199, 253, 675
Coffee and tea, duty on, recommended. . . . . . . . . . .
. . . -609, 616
the value <of, imported into the United States annually, from 1821 to
1842.
637
Coffee, the value of, imported into the United States from 1790 to 1838, inclusive. ..
276
Collection.of duties, statement of the expense of, annually, from -1821 to 1 8 4 2 . . . . . . . .
635
Collection law, extract from the report of the Secretary of the Treasury in 1790, touching
the bearing of the, upon the receivability of bank notes in payment of
duties..v.*.... .,.
..
•• • «•••
54
a revision of the, recommended
199
'Collector at New York, Treasury circulars-to, in 1837, in regard to the specie circular and
duty-bonds.,..'.
,
• • -33, 47
circular from the, in regard to the excessive supply of foreign
merchandise in 1842
507




INDEX.

5

Collector at Baltimore; in 1789, Treasury circular to the, in regard to the receipt and transmission by mail of bank notes
.,
53
•Collectors of the Customs, made depositaries of the public moneys received by them in
case of suspension of specie payments by the b a n k s . . .
59
to. receive Treasury drafts in payment of duties
6*8
continue to make deposits of public moneys in certain banks. 192
concerning the report of the ultimate losses qf public moneys by, 194
recommendation of collateral security from, as keepers of the
public moneys, and making any embezzlement of public
money by them a penal offence.
. . . . . . .195, 196
Treasury circulars to the, in .1838, in relation to the kind of
currency receivable in payment of public dues
215, 217
list of, and of receivers of the public moneys; having public
,moneys in their hands, on whom drafts have from time to
time been placed, and are intended to. be continued, for the
sums to the credit of the Treasury; showing, also, the balances in their hands subject to draft, conformable to returns
to December 3, 1838..
. . 227v
Treasury circular of July 14,1838, to the, 'exhorting them not
to use the public moneys for private gain, &c.
.
..
230
a reduction of, recommended in 1840.
..
..
364
Commissioner of Customs proposed in 1837 and 1838.
108, 109, 349
Compensation, the, to custom-house clerks. . .
..
617
•Commerce of the United States, views in 1839 in relation to the.
....
....
.. ..
233
the extent of the—see Imports—see Exports.
statistical view of the, from the year 1821 to 1842.
.. 634
Commerce, foreign, concerning the fluctuations in the.
, . ..
..
. ..
604
s
what constitutes .legitimate
367
•Constitutional currency—see Currency.
Cotton, over product of, and reduction of its price, cause of financial embarrassment in
1837
.28,95
the net profits of, in 1835 and 1836.
............
105
statement of the value of manufactured, imported annually into the United States
from 1790 to 1838, inclusive. ..
275
statement of the value of, exported annually from the United States from 1790 to
1838, inclusive
,,
285
statements of the value of, exported annually from the United States from 1821 to
1842, and of the countries to which exported. t .
645, 646, 647
Cottons, statements of the kinds and value of, imported into the United States annually
" from 1821 to 1842 .
636
the value of manufactures of, imported for the same periods., .
638
Credit, the Government, views in 1839 as to some stable means to preserve the
243
public, views on the necessity of permanent legislation to preserve the, against the
contingencies of a fluctuating trade.
.. .. . . . . 184
how preserved, &c., in 1840.
..
.354,355
the importance of its maintenance
..
490
views in 1844 on the importance of sustaining the public.
650
Credit, an excess of, always ends in revulsion..
367
Crockery ware, the value of, imported into the United States from 1790 to 1838 inclusive. 276
Currency, views in 1837 in regard to the constitutional, and the proper kind of, to be
received in payment of public dues, &c.
... — . . .
.21,98
Treasury circulars to -the Boston merchants and collector at New York in regard
to the kind of, to be received in payment of duties
.v.
.43, 47
circular in 1789 in regard to the kind of, receivable for duties...
......
53
kind of, in view of the collection law, in 1790 receivable in payment of public dues. 54
the, as afforded by the banks. ,.
..,„,
103
views in 1838 on the kind of, received for the public dues, &c..
.. ..
188
Treasury circulars of June 1 and July 6, 1838, to the collectors and receivers,
in relation to the kind of, to be received in payment of public dues.. . . . . .215, 217
views in 1839 on the condition of the banking institutions, and the kind of, ,
receivable for public dues
..
...
.......
249
advantages to'the, by the disuse of paper in paying public dues
—
363
Custom-house establishment, concerning t h e . . . . . . . , .. .. . . . . .
253^
bonds—-see Bonds.
clerks, practice of allowing compensation out of the revenue where the fees
are inadequate, &c., abolished.. ,
..
.. ..
617'
officers, concerning the restriction on the increase o f . . . . . . . . . . . . .
673
revision of the pay of, recommended in 1837...
.. - .
.109, 199
reduction of, recommended in 1840
364
responses of the various, of the United States, to Treasury circular
of November 24,1842, in regard to the warehouse system. .530 to 595'
VOL. I V . — 4 4 .




690

njTDEX.

Customs, Commissioner of, proposed in 1838 and 1837..".
....
. . . . . . . . . . .108,199, 34$
Customs, receipts from, estimated for, and ascertained—
In 1836.,
..
183 7
2, 90, 175
183 8
'
92, 176, 178, 256
1839.
...
.180,231,371
184 0
234, 351, 437
184 1
357, 438, 439, 440, 456, 461, 462
184 2
442, 456, 463, 485, 620, 6,03
1843-' 4
456, 487, 488, 600, 623, 667, 678, 680
1844-' 5
602, 667, 678
1845-'6..
669
Customs, receipts from, from 1st January, 1816, to 31st December, 1836, inclusive. .,
459
from 1st January, 1837, to 31st December, 1840.
..
460
from 1st January, 1837, to 30th September, 1843
627
a change of duties recommended in 1841, and an increased revenue therefrom... 442
estimate of the amount which will be. received from, in the last Quarter of 1841,
and each of the two succeeding years, under a modification of the tariff,. — .. 466
views in regard to the receipts from, in 1842.
..
..
..
.463, 603
estimated receipts from—see Estimates.
D.
Defalcations,, report in 1838 of the probable losses of the'public funds by receivers and collectors.
..
., . . . . . .
194
concerning the list of officers reported as standing on the books of the Treasury, 12th October, 1837, as defaulters.
.. ,
..
.. 195
collateral security from collectors and receivers -and other depositaries, and
attachment of penalty to prevent.. . . . . . .
..
195, 196
concerning checks and securities and penal enactments against.
, , .252, 363
the losses by individual
. ..
. . ..
.r..366, 444
.—
......
445
the, by banks, as keepers of thp public moneys
congratulations in 1843 that there are no, by officers of the Government.. .
618
Deficiency in the Treasury, apprehended.
..
..
... .
3
apprehended at the close of the year 1840, the amount o f . . .. 234
views in 1839 on some permanent safeguards to prevent, & c . . 243
concerning a provident fund to meet a
. 252
a modification of the tariff recommended in 1840 to prevent a. 362.
to be provided for in 1842, and views in regard t h e r e t o . . . . . . . . 439,
440, 462, 463 , 464, 469
amount of, 31st December, 1842, and views in regard thereto, 487,488
amount of, on the 1st January, 1842
...
.. . . .
598
probable, at the end of the fiscal year 1843-'4.
.'. 602
probable, at the end of the fiscal year 1844-'5.
..,
603
the, how supplied.
./
,
. 605
views in 1843 as to provisions for meeting, in the revenue-.
608
217
Deposit act of 23d June, 1836, an act to modify the.
Deposits, of the public moneys with the banks, views in 1837 and 1838 in regard t o . , . 10, 17, 192
letter to the Executives of the States, with the' postscript as to the return of the
transfers in case of non-payment of t h e . . . . . , . . '
.....
..
.
51
Treasury circular discontinuing the, to such banks as had suspended specie payments
..
55
unavoidable
91,177, .178, 357, 372, 627
with the banks, considerations in relation to a system of special. .
193
with the States, in 1837
,
..."
..
„ . 1.1, 3, 30
considerations touching obstacles in the way of transferring the last instalment
of, to the. States. ..
..
5
views in 1837in regard to the extent and availability of the, &c
...
90, 97
unavailable for the service of 1838
.. . .
.177, 178
the Secretary does not anticipate that there will be any surplus inNthe Treasury
1st January, 1839, to deposit under the act of June, 1836.. ... —
181
the obligation to deposit with the States any surplus, not a debt due the States, 181
further views in 1839, on the impracticability of making available the, and the
legislation of Congress on the subject
:
184
concerning the.
..
....
253
the aggregate amount of
..
. .. u . 627
. (For further information and views in regard to, see Banks—see Public Moneys.)
.'Deposits, public,.interest on, from 1837 to 1841
..
455,
Deposits in the Mint—see Mint.
Depositories, views in 1837 on the propriety of appointing general. .. . .. . . . . . . . 107
general, under the act of 4th July, 1840
^ ..
.449, 452
selection of certain, in 1844.
674




INDEX.

691

Diplomatic service—see Foreign Intercourse.
Disbursing officers, views in 1840 in regard to, &c
363
Discounts, the use.of the public moneys for, unprofitable and injurious to the banks and
borrowers.. ..
,, ......
...,„, 192
District of Columbia, amount of debts of the cities of the, assumed by the Federal Government. 179
payments on the, and remarks in regard to the debt of
273,
352, 353, 357, 358, 371, 385, 483, 504, 630, 651
Documents, list of, appended to the Secretary's report in 1837
•
32
Domestic produce and manufacture, value of annual exports of, from 1821 to 1843 inclusive. 632
views in 1840 on the exports of, for a series of years. 355
statement of the value of the annual exports of, from
1821.to 1842.. .
....
634
> statements of the value of certain articles of, exported
annually from 1821 to 1842, and exhibiting the countries to which they were exported..
., .645, 646, 637
value of exports of, in 1844
683
exports of, from 1834 to 1840, the value of, 15 per cent.
added
...
457
statement of +he value of, reexported annually from
1821 to 1842
.631, 632, 645, 646, 647
exports of, from 1790 to 1838.
.285, 287
See Exports.
Donations for local objects should be forborne, recommendation in 1838 that.. .,.
187
Drafts in hands of disbursing officers saleable for specie alone.
363
Drawback paid on foreign merchandise, domestic refined sugar, and domestic distilled
spirits, annually, from 1821 to 1842. ,.
635
Drawback, the inequalities of the, on sugar and molasses, and necessity of legal provisions
to correct..
., ...
. 442
a retention of a larger percentage of, recommended .
. ..
611
Drawbacks, views in 1840, concerning..
.354, 360
Dues, the money receivable for—see/Public Dues.
Duties, the amount of, collected annually—see Revenue—see Receipts—see Imports—see
Public Dues.
the bonds for—see Bonds.
views in 1837, concerning the extension of credit on
..
97
the receipts from, in 1838, and the estimated, for 1839.
183
how estimated
. . . . . . . . . . . . . . . . . . 183
under protest, concerning the mode of keeping and repaying..
200
a modified duty of 20 per cent; ad valorem, recommended in 1841.
442
increase of, recommended in 1841
...,
..
, 469
the decline in the importations in 1842, not attributable to the system of duties.
490
the largest importation under the highest rate of
.. 604
any change in the .rate of, not likely to improve the revenue. ...... , . , . . . , . . 6 0 9
•on tea and coffee urged
609, 616
on tonnage and light money recommended to be applied to hospital purposes.. .610, 616
transit, on imported merchandise, &c., suggested.
,
.611,616
the amount of, on merchandise from 1837 to 1843.
626
the amount of, collected on foreign .merchandise from 1821 to 1842.
631
amount of, which accrued annually upon imported merchandise, from 1821 to 1842. 633
statement of the amount of, on merchandise, tonnage,'' light money, passports, &c.,
annually from 1821 to 1842 inclusive . .
635
expense, of collection annually from 1821 to 1842 inclusive
635
statement of, ad valorem and specific, upon manufactures of iron and steel imported
into the United States annually from 1821 to 1842 inclusive
641
their effect upon importations and the prices' of merchandise, &c
662
the average yield of, &c., under the act of 1842.
671
of articles imported during the nine months ending 30th June, 1843, the duty on
which exceeded 35 per cent, on the average wholesale market value of such
articles.... ..
681
gross, which accrued in the fiscal year 1844.
683
Duty, the value of merchandise imported from 1834 to 1839, both inclusive, free of, paying
aa volorem, and paying specific
274
E.
Embarrassments—see Financial.
Estimates of receipts into the Treasury from all sources and of all expenditure for all
objects—
for 1837
2,3,90
for 1838 .
92, 93, 123, 124, 176, 177, 178
for 1839
180, 181, 231, 232
for 1840
234, 235,298,299,351, 352




692

njTDEX.

Estimates of receipts into the Treasury from all sources and of all -expe'ndittlre for alf
o bj ects<— Continued.
for 1841. ..
.....
357, 358, .390, 391, 439, 440, 456 * 462
for 1842.
.. .. ..
,,.,......;.,.:...
442,463,485,486,598
for 1843
..
„.......
487, 599
for 1843-'4. / .
..' .. '
..487, 488, 600, 601
for 1844-'5. . . , , ,
,..
..602,667,668for 1845-'6. . , .
.,.,..
66$
explanatory remarks in 1837 on the, for 1838,
99, 101, 123, 124
f . . . . . . ,.„
explanations in 1838 of the, for 1839, and suggestions on the mode of meeting fluctuations
in them, .
......
-182
of 1839, .on an economical basis.
*«.. / . . . . . . 185views in 1839 in regard to the estimates of receipts for 1840
.....
.235, 236explanations in 1839 of the estimates as to th.e expenditures and of some further reductions in them..
237
viejvs in 1840, in regard to the, for 1841. ,.
.....
356, 357
explanations in 1841, of the, for 1842. .,„ ..
463,487,358,359.390, 442
.views in 1842 of the estimate of 1843...,..........
.. .
488
views in 1843 of the estimates .of 1844-'5.
..
......
.„..,..,..
603
views in 1844 of the estimates of 1845-'6
. . . . . . ... . . „ . . . „
670
of appropriations, in aggregate and detail, for 1838.
123,. 124
of appropriations for 1840. . . .
..
...
.235, 298,- 299
of appropriations for 1 8 4 1 . . . . .
.:
......
.358, 390, 391
statements .under the act of May 1, 1820, accompanying the a n n u a l . . . . . . . . .159, 335, 425
of the duties on the average value of imports, from the 30th of September, 1834 to 1840
inclusive
. . . ... . ...
....................................
. . . . . 4§8
Ewing, Thomas, Secretary of the Treasury-^see Finances.
Exchanges, domestic and.foreign, views in 1838.on the good.condition of the... .„,
. .190, 191
Expenditures of the Government for all objects, estimated for and ascertained, in aggregate
and in detail, in—
,89
1836.
lOOU . ..
..
..
u
..Go'
183 7
90, 109, 175
183 8
..
...
93,177,178,201,256
183 9
180,181,232,257,371
18.40
:
235, 352,373, 437
1841. . . . .
...
.358,.438, 439,440, 448, 462, 471, 599
184 2
....
, , .,
463, .486, 492, 599, 620
1843
..
.487, 599, 623
1843-'4.
„
..
.. ..
.48, 600., 601, 667, 678
1844-'5 i
...
.'..
.... '
.603,668,680
1845--6 .
. ...
669
Expenditures, views in 1837 in regard to the estimates of, for 183.8.
. . . . . . 9 4 , 101
and revenue for 1837, further explanation as to the effect upon them by laws
passed at the special session in 1837.
. . . . . . . . . . 96
prediction in 1837 that on certain contingencies the, can be re.d.uce.d to
$17,000,00.0., .and views why former predictions of reduction were not realized
....
"
./
101
views in 1838 in regard to the fluctuations-in the.
.182, 184, 185
yiews in 1838 on a reduction of the annual to meet the diminished revenue
apprehended in consequence of the gradual reductions in the tariff,.... .185, 187
views, in 1839 why the expenditures in 1,840; will be les.s.than those of the
previous year, and why they should not be more than $18,000,000
237,
238,252
general yiews in 1839 in regard to the causes of increase in the. ..... . . . . 239
considerations in 1839 as to some permanent safeguard under fluctuations in
receipts and.
,..
.,-......
. . . . . . . . . . . . . . .242, 252
proposition for a reduction of.
„. 252
general views in 1840 in regard to, and for a reduction of t h e . . . . . . . . . . . , 366
exceeded .the r.ev.enu.e, and how, and the necessity of early regulation to prevent a further augmentation..,, ,.. , , . . . . . . . . . . „ „ . . . . . . , „ „.. . . „. . . .441, 442
excess of, oyer revenues,in 1842. ....
599
views in 1843 in regard to a diminution .of the. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 605
views in 1844 against extravagance in
.. .. 662
average rate of, for certain years, exclusive of the public debt.
605
exclusive of trust funds, loans, and Treasury notes, from 1816 to 1836, and
from 1st January, 1837, .to 30th D.ecember, 1840
.459,460
average annual expenditures from 1816 to' 1836, and from 1836 to 1840. .459, 460
excess of average annual expenditure for current expenses orver receipts
460
.statement of the'annual expenditures pn all accounts, from January 1, 1837,
s to. September. 30, 1843*.
627




INDEX.

693

.Expenditures, an account of the principal and interest of the public debt existing before
1837, between January 1, 1837, and September 30", 1843, and for interest
on loans and Treasury notes from 1831 to 1843.
....
626, 627
see Miscellaneous Expenditures—see Treasury Notes—see Estimates—see Public
Debt—see Naval Service—see Foreign Intercourse.
for the Jlrmy, see Military Service.
Expenses' of Governm-ent, views in 1843 in regard to a reduction in the.. . " . . . . . . „ , . . , 607
of collecting the revenue—see Collection.
see' Expenditures.
Explosions—see Steam-boilers.
Exports, in 1837, ascertained and estimated, and views in regard to'.
94
statement'of the value of, during the years ending 30th September, 1836—'37.,.... 171
value of, during the commercial year ending September 30,1838.
181, 214
value' of, during the commercial year ending 30th September, 1839, and views in
relation to the amount, &,c.} of.
,
233
•statement of the value- of imports and, during the years 1834, 1835, 1836, 1837,
1838, and 1839.
'
...
274
•statement of the value of annual, domestic arid foreign, from the United States,
from 1790 to 1838 inclusive. A
•
'
285
statement exhibiting the States from which the annual, from 1790 to 1838 were
made', send the value' of, from each State, &c..
287
countries to which the annual,'from the United States were made from 1790 to
1838 inclusive, and the annual value of, to each c o u n t r y . . . « ,
291
views in 1839 in regard to past imports and, of the United States
. . . . . . 294
iiri 1840, the amount and peculiarities of, showing an excess over the imports. . 354
views in 1840 on the, of domestic products for a series of years
.355
statement exhibiting the value of imports and, annually, from 1791 to 1840 inclusive,
and the excess in either case for the same period
. 387
value of, and imports during each presidency, from Mr. Monroe's second term to
Mr. Van Buren's, inclusive.
..
..
..
388
of bullion and specie during the year ending 30th September', 1838
224
of bvllion and specie annually from 1790 to" 1838. . , . . :
286
average value of, for six years, &c., &c
.,, , . .
. . . . . 456
o f domestic' and foreign produce from-1834 to 1840, the value of 15 per cent, added. 457
value of,- during the" year ending 30th September, 184&
505
value of foreign merchandise exported annually from 1821 to 1841.
506
statement of the value of, of domestic produce and manufacture, and" of foreign
merchandise reexported- annually, from 1821 to 1842.......
631, 632
•statistical view of the commerce-of the United States, exhibiting the value of im'
634
ports and, annually,, from 1821 to 1842
•statements-of the-value-of certain articles of domestic produce and manufacture,
and of bullion and f^pecie exported annually, from 1821 to 1842 inclusive, and
the countries to* which exported..
645, 646, 647
statement exhibiting the value of, during the year ending 30th June, 1844...,
683
F.
Fees, the surplus, of clerks of district and circuit courts, concerning.,
..
607
Finances, in 1837; reports' of Mr. Woodbury on the state of the Government
.1, 89
1838; report of Mr.' Woodbury on the state of the
175
1839, report of Mr. Woodbury on the state of the.. .
.. ...
231
1840, report of Mr. Woodbury on the state of the
' . . , . , 351
1841, report of Mr. Ewing on the state- of the.
.. . . .. ..
437
1841, report of Mr. Forward on the state of the.
.., ..
;. .. .. .. 461
1842, report of Mr. Forward on the state of the". .
*
485
1843-^4, report of'Mr. Spencer on the state of the. .
597
1844-'5, report of Mr. Bibb on the state of the.
..
649
of the Government, 'recommendation in 1837 of certain legal provisions for the
1 pro'p'er'administration of the...
..
"
.
. . . .. . . , . . 107
touching the recommendation of permanent measures to meet any fluctuation in
the;,;
'
183
Financial embarrassment, views in 1837 and 1&38 in regard to some general causes of,
and remedies for. , , . . . . . . . . .
,..-...
. . . .28,184
the excess of importation of foreign merchandise' over the exports one great cause o f . . . . . .
, . ..
233
legislation recommended in 1840 to prevent
355
Financial operations of the Government, general views in 1840 in regard to the. ..
365
Fiscal year, alteration in the, proposed.
.,
. . . .
.199, 349
the change in the
....
. . . . 597
Fish; exported annually from-the United States from 1790 to 1825, inclusive,.the value of. 286
exported annually from the United- States, from 1821- to 1842, inclusive, the value of.. 645
Fishing vessels, allowances to, annually, from 1821 to 1842. . . . . . . . .
635




694

njTDEX.

Flannel, American, the price of, in 1 8 4 2 . . . . . .
...... — , , .
^ SOS1
Flax and hemp, statement of the value of manufactures of, imported into the United States
annually, from^l821 to 1842, inclusive
640
Flax—see Linens.
Flour, exported annually from the. United States from 1790 to 1838,. inclusive, the value of. 286
statement of the value of, exported annually from the United States, from 1821 to
1842, and of the countries to which exported.
..
,
,....645, 646, 647.
Fluctuation in receipts and expenditures—see Finances.
Foreign intercourse, estimates for 1838 for.
..
.123, 144, 156, 159, 177
estimates for 1839 for.
181, 232
estimates for 1840 for
298, 235, 322, 332
estimates for 1841 for
358, 390, 413, 422, 440, 462
estimates for 1842 for.
„
..
486
estimates for 1843 for
i.487, 601
estimates for 1844-'5 for
488, 603.
estimates forJ^S-'G for
669'
appropriations made in 1837 for.,
..
• -144, 159'
appropriations made in 1839 for. ...' ... :
299, 322, 335;
appropriations made in 1840 for. „. ..... ... .. . . . . . . . . . . . . ,
.413, 42£
appropriations made in 1841 f o r . . . . . . . .
438;
expenditures in 1837-on account'of.
..
. . . . . . . . 109, 175178, 201, 256-'
expenditures in 1838 on account of
expenditures in 1839 on account of. . ..
,
.232, 257, 371
expenditures in 184.0 on. account of.
..............
352, 373, 437
expenditures in 1841 on account of.
..
.
462, 471
expenditures in 1842 on account of. .........
... u . . . . . . . . . .486, 492, 620
expenditures in 1843-'4 on account of.
. ...600, 623, 678
expenditures in 184.4-'5 on account o f . . . . . ;
....
.668, 680
Fortifications,, a reduction of appropriations for, recommended in 1838.,
—
.. • 187
estimates for 1838 for
148
estimates for 1839 for
A
181, 232
sestimates for 1840 for
..
..
235, 298, 326
estimates for 1841 for.
.358, 390., 416, 440, 462
estimates for 1842 for
486
estimates for 1843 f o r . . . . . . . .
..
..
'
487,601
estimates for 1844-'5 for.
..
.488, 60$
estimates for 1845-'6 for
...
'..
.........
. . . . . . . . 670'
appropriations made in 1837 for..
~
....148, 164
appropriations made in 1839 for
,..;...
..
326, 339'
appropriations made in 1840 for.
. . . . . „ . - . . .......
.. .417, 429"
appropriations made in 1841 for
; .. ..
. . . .
.. . .438, 439s
expenditures in 1837 forV
.. ,.
..
.....
175
expenditures in 1838 for
.177, 202, 25G
expenditures in 1839' for.
..'.232, 258, 371
expenditures in 1840 for.
.352, 374, 437
expenditures in 1841 f o r . . .
-.. .438, 462, 472
expenditures.in 1842for.. . .
..
..486, 492, 621
expenditures in 1843-'4 for
'
„ r.
624, 679
expenditures in 1844-'5 for.
..
..
.. .....
..
.668,^680
Forward, Walter, Secretary of the Treasury—see Finances.
France, the sixth instalment due from, to the United States, paid...
... ..
199'
the interest on the first four instalments of the indemnity d u e b y . . . ......
..
253*
Funds—see Trust Funds.
public, unavailable..
»
.91, 177, 178, 372, 62T
G.
General Land Office, concerning t h e . . . . . ..
253
the operations of the, in 1840, concerning
. ..
364
the operations- of the—see Public Lands.
Georgetown, the debt of, assumed b y the Federal Government...
-179, 273, 385payments on said debt—see District of Columbia.
Grain and flour, views in 1837 touching the price of, their value, and the- quantity
imported and exported, and their bearing upon the national finances and the stability of
trade
.,
...
95
Great Britain, the warehouse system of—see Warehouse system.
H.
Harbors and rivers, the improvement of—
estimates for 1838
estimates for 1839.
estimates for 1840.




A

148
181,232, 371
235,, 298

INDEX.

695

Harbors and rivers, the improvement of—Continued:
appropriations for 1837
..
.—
.148, 164
appropriations for 1839
..
..
..
..
339
appropriations for 1840
..
,..
. . .. 432
appropriations for 1841. . , . „ „
.,
439
expenditures in 1837.. .. .,
.
175
•expenditures in 1838
.187, 202, 256
expenditures in 1839
232, 258
expenditures in 1840.
;
..
.352, 374
expenditures in 1842 . . .
..
621
expenditui-es in 1843-'4
, ..
.624, 679
Hemp, the value of, imported into the United States from 1790 to 1800, inclusive.
277
clean Russia, the price of, in 1842.,,
507
imported into the United States annually, from 1821 to 1842, the value of manufactures of
o.....'.
,
..
..
636
and cordage imported into the United' States annually from 1821 to 1842, statements
of the value of.
637,642
and flax, statement of the value of manufactures of, imported into the United States
annually from 1821 to 1842
640
Holland, remarks in 1837 in regard to the outstanding appropriation under the act of May
20, 1836, to pay the debt due by the District of Columbia.
91
the debt due—see District of Columbia.
Home market, the creation of a, recommended in 1841.
..
,. . . . . . .
468
Home valuation under the tariff of 1833
..
465
I.
Importations of foreign goods, the excessive, a cause of financial embarrassments in J 837.
29
how affected by the expansions and contractions of the currency
...
., . ..
236
Imports^ the value of, in 1837, and views in regard to the diminution of.
94
views, in 1837, in "regard to the fluctuations in, caused by restrictive legislation, &c. 100
statement of the value of, during the years ending 30th September, 1836 and
1837:
171
the value of, during the commercial year ending 30th September, 1838. . . . ..182, 214
the value of the, during the commercial year ending 30th September, 1839, and
views in relation to the amount, &c.,, of
— .......
, , .. „ „ . .
233
the effects of the excess of, over the exports, treated of.
.,
233
.statement exhibiting the value of, and exports during the years 1834, 1835, 1836,
1837, 1838, and 1839.
274
statement of the quantity-, kind, and value of imports into the United States, from
the 1st October, 1789., to the, 30th September, 1838, and the value of those
retained in the country.;.. ..«,
....
.
„275
•statement showing from what countries the imports into the United States, from
1790 to 1838, inclusive, were derived, and into what States they were entered,
and the value in each case.
..
. . . . <.
278, 281
views in 1839 in regard to the past, and exports.
........
..
.,
294
in 1840, the amount and peculiarities of, &c.,
...
.354, 367
statement of the annual value of, and exports, from 1791 to 1840, inclusive, and
the excess of imports and of exports annually, for the same period.
...
387
value of exports and, during each presidency, from Mr. Monroe's second term
to Mr. Van Buren's, inclusive.
..
..
..
..
..
..,;
..
388
average value of, for six years..
...
„
.,
, .. 456
from 1834 to 1840, and value thereof.
....
457
estimate of duties on the average value of, from 1834 to 1840, inclusive.
458
of bullion and specie from 182i to 1842
..
, .636, 645
•of bullion and specie during the year ending 30th September, 1838.
224
of bullion'and specie from 1790 to 1838. ..
277
of bullion and specie from 1834 to 1840
., 458
the decline in the, in 1842, not attributable to our system of duties
490
the value of, during the years ending 30th September, 1840, 1841, and 1842.
505
statements of the value of foreign merchandise imported , &c., annually, from 1821
to 1843, and the amount of duties accruing thereon
....
..
.631,633
statistical view of the commerce of the United States,- exhibiting the value of exports
and., annually, from 1821.to 1842. . . . ' . .
, ..
.,
......
634'
statements of the value of the principal articles of merchandise imported into the
United States annually, from 1821 to 1842.
636, 637
statements exhibiting the value of manufactures of cotton and wool, flax and
hemp, iron and steel, hemp and cordage^imported from 1821 to 1842, inclusive, 638,
639, 640, 641, 642
statement of the'value of articles imported into the United States, designating the
countries from which received, annually, from 1821 to 1842, inclusive
643, 644




696

njTDEX.

Imports, statement of articles imported during nine months ending June, 1843, the duty on
which exceeded thirty-fiye per cent, on the average wholesale market value of
such articles.
...
... . .
.,.
681
statement of the value of, and exports during the year ending 30th June, 1844... 683
Indemnities—see France—see Naples.
Independent Treasury, views in 1837 and 1838 in favor of an. , . . . .
10, 106, 198
views in 1838 in regard to the operations of the. .,
,-...
192
views in 1840 in regard to the operations of the
362
views in 1841 against the, and against individual custodians of the
public moneys, and in favor of the repeal of the
..
444
Indian affairs,, remarks in 1840 in regard to.
....
366
Inscriptions, Spanish, concerning the payment of. , . .
......
108
Insolvent banks, Government funds unavailable in the—see Banks.
Insolvent debtors, extension of the acts of Congress for the relief of, proposed
. . . 350
: Internal improvements by the Federal Government, reductions in appropriations for,
recommended
..
..
..
.......
187
Intercourse—see Foreign Intercourse.
Iron and steel, the value of, imported, into the United States from 1790 to 1838 inclusive... 276
imported into the United States annually from 1821 to 1842, the value of
manufactures of.
..
,
......
..
. . . . o 636
manufactured and unmanufactured, statement of the value of, imported into
the "United States annually from 1821 to 1842. „•„.,...;.,.•
641
Russia, bar, the price of, in 1842.
'
..,,....,.
507
Judicial condemnation of goods, the expanse of
..
..
... 607
L.
Land laws, as to any modification of the.
.. „
608"
Lands, public, receipts from the sale of, &c.—see Public Lands—-see General Land Office.
Lead,.imported into the United States annually from. 1821 to 1842, the value of
637
the value of, imported into the United States from 1790 to 1838 inclusive.
277
Linens, the value of, imported into the United States from 1790 to 1838 inclusive..
277
and the manufactures of flax, imported into the United States annually from 1821
to 1842, the'value of. . ...
636
Light money—see Tonnage and.
Light-house establishment, recommendation in 1838 of a reduction of appropriations for. ..186, 187
concerning the.
..
. .. •'.
...
253
Light-houses, on a part of the1 Atlantic coast, concerning proper sites for
......
108
concerning.
...
..•„„..
199
Loans, to supply the Treasury—see Treasury Notes.
per acts of 21st July, 1841," of 15th April, 1842, and of 3d of March, 1843, receipts
from, estimated and actual, in 1841. ..
461, 470
in 1842
.485, 486, 491, 599, 620
in 1843
. .487, 600, 623
in 1843-'4...
.... .
667, 678
statement of receipts from, from January 1, 1837, to September 30, 1843. .
626
expenditures on account of the, of 1841, 1842, and 1843—
in 1841
462, 482, 627
in 1842
. .486, 502, 599, 622, 627
in 1843...
487, 600, 625, 627
in 1843—'4
. . „ . . \ . .488, 602, 627, 680
in 1844-'5
.. .603, 627, 668, 680
in 1845-'6
..
670
statement in 1842 of the amo.unt due on the-, of 1841-'2, the, former redeemable 1st
January, 1844, and the latter the 1st of January, 1863. . . .
504
statement of the payments from January 3, 1837, to September 30-, 1843^ and of
interest on account of the. ,.
., — . . .626, 627
statement of persons, to whom was awarded the loan of 1843, the terms of acceptance, &c., and of the offers not.accepted, &c.
.. ..
629
statement, December 1, 1843, of amount of outstanding., ..
..
630
statements in 1844 of the indebtedness of the United States on account of. .652, 676, 677
recommended in 1841. . . . .
.....
,,
., . > ..•
*..
,. , .443, 444
views as to the anticipated receipts from, in- 1842'
463
to make the late loan available, an extension of time-recommended. . .-. . . .
464
concerning the.
..
,,..,.,
..
489
606
a new loan recommended in 1843 to meet a deficit. „ „
considerations in. 1843 in regard, to the loan authorized by the act of March, 1843.. 613
views in 1844.in regard to the interest on the-, and the payment of the.
.660, 661
Losses, of the public money, views in 1839 in regard'to.
. . . . . ...246, 247
Lumber^ exported annually from,the United States from 1790 to 1838 inclusive, the value
of286
exported annually, from the United States from 1821 to 1842 inclusive; the value of. 645




INDEX.

697

M.
Manufacture, domestic, statement of the value of the annual exports of, from 1821 to 18'42. 632
Manufactures, the value of certain, imported into the United States annually from 1821 to
1842. . . . . . . . .
..... . . , , . . . .
...
,, ,.
636
statements exhibiting the value of, of cotton and wool, flax and hemp, iron
and steel, hemp and-cordage,^ imported from 1821 to 1842 inclusive....... 638,
239, 640, 641, 642
statement of the value of* imported into the United States as-above, annually,
from 1821 to 1842, and the countries fronrwhence received., . . .
.643, 644
statements exhibiting the value of certain articles of domestic produce and,
exported annually from the United States from 1821 to 1842, and the
countries to which exported.,..
o.-... ;o . . .
645, 646, 647
the value of, exported-annually from the United States from 1821 to 1842. 645
statement of the value ofj exported annually from the United States from
1789 to 1838 i n c l u s i v e , , , . - , . , . - . - . . •
285
Marine hospitals, concerning places most suitable for...- „ • . . . . . . . . .
. ,..
108
Marine Corps, appropriations and expenditures for the-^see Naval Service—see Estimates
—see Expenditures.
Merchandise, for the annual imports and exports of-^see Imports-^Exports.
statement of the kind and value of imports of, from'the 1st October, 1789, to
the 30th of September,- 1828, and the countries5 from whence derived., .275, 279
statement of the exports of, for the same period.
..-.-.-.„ ..- „ .. 287
foreign, the value-ofj exported annually from 1821 to 1841.
.,
* 506
a redundant supply of foreign, in the United State's before the enactment of
the tariff of'1842, and the prices of certain....
.•
......
507
foreign,-imported and reexported, the amountof duties on, from 1837 to 1843. 626
foreign, statements of the' value- of, imported, reexported, and consumed or
on hand, annually, from 1821 to 1842
631, 632
statement of the value of, imported from 1821 to 1842, and-the gross duties
1
from 1821'to 1842
633
foreign, statement of the value of the annual exports of, from 1821 to-1842. 634
foreign, drawbacks paid on, annually, from 1821 to 1842. ,. .,
...
. . . 635
statements exhibiting the value of the principal articles of, imported annually
into the United States from 1821 to 1842 inclusive, and showing the countries from whence received .
.636, 638, 639,^640, 641, 642, 643, 644
statements exhibiting the value of certain articles of domestic produce and
manufacture, and bullion and specie, exported annually from the United
States from. 1821 to 1842 inclusive, and the countries to which exported..*. 645,
646, 647
statement of articles imported in nine months of 1843, at a rate of duty averaging 35 per cent
,, .. .......
i.*.. I. ..
;
681
the value and kind of, imported and exported. . . .
........ *
Military service, including, fortifications, armories, arsenals,, ordnance, Indian affairs, revolutionary and military pensions, and internal improvements—
estimates for 1838
*.
.123, 146, 156, ,164 178
estimates for 1839
' ... ......
181,232
estimates for 1840.
,
.235,-298, 323, 333
estimates for. 1841.
358, 390, 397, 414, 423, 440, 462
estimates for 1842
•
486
estimates for 1843
=
.;
..
.487, 601
estimates for 1844-'5
.. ,
..
.488,603
estimates for 1845-'6
670
appropriations made in 1837. ..
^
146, 164
appropriations made in 1839
..
...
.323,339
appropriations made in 1840
........ .,
.. .414, 429
appropriations made in 1841. .
...
..
.438, 439
expenditures in 1837
.111,175
expenditures in 1838.
177, 178, 202'
expenditures in 1839
.!
..
..
.. . . . .232, 258, 371
expenditures in 1840.
.352,374,437
expenditures in 1841. .....
.-".4:39, 462, 472'
expenditures in 1842...
...
486, 493, 621
expenditures in 1843-'4. ,
„ .600, 601, 624, 679
expenditures in 1 8 4 4 - ' 5 . . . . . . . . . .
-...
....
.668, 680
Militia service, &c.—see Expenditures—see Estimates.
Mint, the amount of deposits in the, and considerations in regard to.
.-.
,
2, 177
concerning the. . . . . . . ..-.. . . .
.-.I.
199, 253
deposits in the. under the act of June 23', 1836, and January 18^, 1837 ..
.91, 451, 454
views' in 1837 on the--propriety of imposing the duty of a general depository on the., 107'
recommendation" of legal penalties' in case of embezzlement of any of the public
funds in the.
. . . . . . . 1 9 5 , 196




69S

INDEX.

Mint, amount of special deposits in the, and subject to draft 1st December, 1838....... • 228
Mint certificates, recommendation in 1837 that the, be receivable in payment of public dues.
26
Miscellaneous serviceestimates for 1838
123, 144, 156, 159, 178
estimates for 1839
181, 232
estimates for 1840.
•
•
235, 298, 318, 331
estimates for 1841. , .
.. ..
.358, 390, 410, 422, 440, 462
estimates for 1842
:
..
486
estimates for 1843-'4
487, 601
estimates for 1844-'5
.488, 602, 603
estimates for 1845-'6.
669
expenditures in 1837
109, 175
expenditures in 1838
, ,'
177, 178, 201, 256
expenditures in 1839.
232, 257, 371
expenditures in 1840.*.
352, 373, 437
expenditures in 1841
.438, 462, 471
expenditures in 1842
..
.486, 492, 620
expenditures in 1843-'4
.600, 624, 678
expenditures in 1844-'5
668, 680
appropriations made in 1837.
....
•
144,159
appropriations made in 1839. , ..
/.,„,,..
...
.299, 318, 335
appropriations made in 1840
..
..
. . . .410, 425
appropriations made in 1841.
. ..
.. . . . . .
438
Miscellaneous sources, receipts from—see Receipts.
Molasses, the value of, imported'into the United States annually from 1790 to 1838 inclusive. 276
the value of, imported into the United States annually from 1821 to 1842.. . . . . . 637
Moneys of the Government, the safe-keeping of—see Public Money.
N.
Naples, the fifth instalment of indemnity due by, paid.
the sixth instalment due by, paid. . .... . . . .
another indemnity paid.. ,
Naval service, including the Marine Corps—
estimates for 1838. \ .
estimates for 1839
.
estimates for 1840
estimates for 1841.
estimates for 1842. ... , , „ . .
,..
..
estimates for 1843
;
estimates for 1844-'5
estimates for 1845-'6
expenditures in 1837
expenditures in 1838

...........

..
•

123, 153, 157, 168, 178
181,232
235, 298, 329, 333
358, 390, 418, 423, 440, 462
..'.-.486
..
.487,602
488, 603
670
120, 176
.177, 178, 202, 256

V

expenditures in 1839
expenditures in 1840
expenditures in 1841. ..
'
expenditures in 1842.
expenditures in 1843-'4. ; , . . ,
expenditures in 1844-'5
appropriations for 1837. .
appropriations for 1839
appropriations for 1840
..
appropriations made in 1841.
Navigating interests in 1840 prosperous.

..

199
253
364

...

""
:
..,.,...,...
i
..
......

1...
..
...

...;..
„...,

..

..

.232, 270, 371
.352, 383, 437
438, 462, 480
486, 501, 621
600, 625, 680
668
152, 169
328, 344
..
.418,435
.
. ...438
. .355

P.
Passports, duties on, annually, from 1821 to 1842
, „...
.63^
Patent Office, concerning the money to the credit of.
..
....
3
Pension grants, the expense of, views in 1838 on the propriety of avoiding an increase of,
during the gradual reduction of the tariff
)
..
188
Pork, hogs, &6., exported annually from the United States from 1790 to 1838 inclusive,
the value of.
.. 286
statement of <the-value of, exported.annually from the United States from
1821 to 1842, and of the countries to which exported. ,. , .645, 646, 647
Port of entrv, at Independence, the establishment of a, recommended.
..
.617
Post-Office Department, concerning the money to the credit of
.. ..
....
3
Preemption and graduation laws, the passage of, recommended in 1839.
252
Premiums offered and accepted for the stock of the United States loan in 1843. ..
..
629
President of the United States, memorials in 1837 of merchants, Chamber of Commerce,&c.,
for a recision of the specie circular, and for a stay on the payment of duty bonds.. .38, 40, 41
Produce—see Domestic Produce.




INDEX.

699

Public debt of the United States, expenditures, estimated for and actual, for payments on
account of the funded and unfunded, in—
1837
.2, 90, 92, 111, 176, 178
1838.
...
.177,178,202,256,272
1839
..
,,
.
...181,232,272,371
1840/
352,384,385,437
1841.
357,358,438,441,462,482
1842.' ..
486, 502, 599, 622
1843...
..
'
487,625
1843-'4
/.
*
.488, 600, 602, 680
1844-' 5
603, 652, 668, 680
1845-1'6. '
670
Public debt, principal and interest on the old, undischarged—
in 1836
'
..
..
92
in 1837.
...
179
in 1238
272
in 1839,'
.385
in 1840
<
.
483
in 1842. .
..
..
504
in 1843. ...;
630
in 1844.,..
676, 677
concerning the extinguishment of the. .
187
views in 1837,in regard to the foreign, of the United States.
95
views in 1840 in regard to t h e . . . ,
..
..
353
on account of the cities of Washington, Alexandria, and Georgetown, and payments of interest thereon,., .179, 273, 352, 357, 358, 371, 385, 483, 504, 630, 651
statement of the old and new, December 1, 1843., . . .
630
statement, of the old>and new, July 1 and December 1, 1844
, ..651, 676, 677
expenditures for debt and.interest, exclusive of payments arising from loans and
Treasury notes, from 1st January, 1816, to 31st December, '1836
- .459, 460
views in 1841 on the means of providing for the, and in favor of funding the.. 440,
441,443
amount paid from 1816 to 1837
..
441
when paid, and how much paid.,
..
.. ..
'* 606
statement and views in 1844-'5 in regard to the
.652, 653
statements of payments on account of the old, funded and unfunded since—
1st December, 1836
92
1st December, 1837. ,
..
178
1st December, 1838. ,,
.. 272
1st December, 1839. . . .
385
1st December, 1840.
..483
payments of principal and interest of the old, between January 1, 1837, and
December 31, 1840, and between January 1, 184J, and September 30,
1843
'
...
.626,627
statement of payments on account of the old, Treasury notes and interest, from
January 1, 1837, to September 30, 1843.
627
in 1790, foreign and domestic.
.. . . ; .
654
on account of the Revolution. ,
654
in 1800
654
iri 1810
154
in 1816.
;.,.
. 654
in. 1820.
654
in 1830
654
in 1835.
..
655
interest paid on the, from 1789 to 1835
655
new, incurred in 1841-'2, and '3, and for payments of principal and interest
thereon—see^Loans—see Treasury Notes.
see Revolutionary Debt.
considerations in 1844 as to the existing .security for payment of interest and
ultimate redemption of the principal of the
.
.,
657
Public dues, views in 1837 on the kind of money receivable for, &c.
. ,
..
.21, 43, 47
bank notes made receivable in 1789, for.
...
....
53
Treasury circular in 1790, in regard to the bearing of the collection law on
the receivability of bank notes in payment of.
..
. .
54
Treasury drafts tp be received in payment o f . . . . „ . .
,.,',.
68
views in 1838 on the kind of currency received for the
...
188
Treasury circulars of June 1 and July 6, 183&, to the collectors and receivers in relation to the kind of currency to be received in payment of... .215, 217
views in 1839 on the condition of the banking institutions generally and.
the kind of money receivable for. ..
..
.. . 249
Public credit—see Credit.




700

njTDEX.

Public lands, receipts from the sales of, estimated for and ascertained—
in 1836.
"
89
in 1837 ,
2,90, 175
in 1838
..
..
92, 176, 178, 256
in 1839.
.180, 231, 371
in 1840.
234,351, 437
in 1841.
.. ..
..
357,438,439,440,461,462
in 1842.
485, 620
in 1843...
..
487, 488, 600, 623, 667, 678, 680
in 1844-'5
..
.602, 668, 678
in 1845-'6
.
669
receipts from the sales of, from 1st January, 1816, to 31st December, 1836. 459
:st December, 1840.
receipts from the sales of, from 1st January, 1837,- to 31
460'
receipts from the' sales of, from 1st January, 1837, to September 30, 1843. 627
views in' 1837 iir regard to the'fluctuations* in the receipts from, and on the
.„ .......
, 9 9
estimates for' the' future". ,,
recommendations to receive payments in' advance for.,..;
. . 107
views in 1839 in regard to the"fluctuation's"inthe sales of, &c., and how the
Government finances are affected thereby
. . . . 242
views in regard to the estimate of sales of, in 1839..
182, 183
views' as to the receipts from, in 1842
..
..
.. . 463
views in 1843, in regard to'the sales of the;
.
'
604
considerations in 1844 in regard to and the revenues to be derived from the, 656
concerning the
.
253
Public moneys, unavailable in 1837, 1838, 1839, 1840, 1841
.. .91, 177, 178, 357, 372, 627
views in 1837 on the safekeeping, of the...
„ . . . . . . .10, 102, 107
circular, May 12, 1837, directing the collectors of customs and receivers
of, to collect and safely keep the, in case of a suspension by the banks.
59
extract from the Treasury report in 1790 as to a new class of officers to
keep and transfer the.. . —
60
statements showing the condition of the, in the former and present banks
of deposit and Mint in August, 1837
....
.64, 65
under'the opinion of the Attorney General, and by order of the President,
the, to be deposited with specie-paying banks, and with other bainks, on
condition of approved security for a prompt return in kind, &c.
...,,
68
views in 1837 in regard to- the banks and safekeeping of t h e . . . . . . .
102
practicability of keeping the, independent of the bank's as fiscal agents..106,107
the use of the, for discounts' by the banks' unprofitable, & c —
,. 192
views in 1838 on the manner of keeping the, and changes proposed. . . . t 192
collateral security for the safekeeping of the, recommended. . . . . . ..194, 195
recommendation that the embezzlement of the, be made a penal offence.., 196
see Banks.
amount subject to draft in' certain general deposit banks the 1st December,
. 1838...
.. ..
....
224
list of •collectors of customs and receivers of, having moneys'in their hands
subject to draft, conformable to returns to December 3, 1838.
227
list of late deposit banks in which special deposits have been made, and
the amount of special deposits'subject to draft 1st December, 1838... . 228
statement of balances of, due th'e United- States on the 10th November,
1834, from banks formerly depositaries of the "public money, with the
credits to which they are entitled for payments since that date.
229
list of certain banks which suspended specie payments, and balances due
by them on* 3d December, 1838, on bonds given under the act of 16th
October,-18-37
....
230
Treasury circular of July 14', 1838, in regard to the'safekeeping of the, and
exhorting the depositaries not to- employ it for private advantage, &c
230
views in 1839 on the manner of keeping, the, and the proper guards
1
against losses.
....
.,
.. . . . . . . . .
.,.,
..
244
statement of the, available for general purposes 1st"January, 1839..,
255
statement in 1839 of, in the two general deposit banks.. ..
.. .. .. 346
available in 1841 in the deposit banks. .
,.....357
opinions in 1840 that the mode established by Congress for the*safekeeping
of the, has answered' well, &c.
..
'. . . . I . . . . 362
views in 1841 in regard to keeping and disbursing the, adverse to the independent Treasury
. . . ... . .
444
subject to draft;,, in 184T, in the hands of the Treasury agents, enumerated.
., . .,
..
..,, , . . . ,,. . . . . . . . . ..
.449,452
R.
Receipts into the.Treasury, from all sources-, as estimated for, and ascertained—
in 1836.
-




89

INDEX.

701

Receipts into the Treasury, from all sources, as estimated for, and ascertainedr--Co?i*wi'wed.
in 1837.
2,90,175
in 1838
92, 176, 178, 256
in 1839
.180,231,371
in 1840.
.. ...
.234, 351,.437
in 1841.
.357, 438, 439, 440, 456, .461, 470, 599
in 1842.
..
.463, 485, 491, 5.99, 620, 603
in 1843.....
'..487, 599, 623
in 1843-'4.
.488, 600, 601, 667, 678
in 1844-'5.,
.602, 667, 680
in 1845-'6.
... v . . . . ,...,.
'
669
views in 1837 in regard to the estimated, for 1838
93, 99
-views in 183.9 in regard to the estimates of, for 1840, and on
some permanent safeguard under fluctuation in expenditure^
and
„ ...
.236,242
explanatory views in regard to the estimates of, for 1839. .182, 183
views on the necessity of guards to preserve.the public faith
against the fluctuations in the..
,
184, 185
explanatory views in regard to the estimates of, for 1840...
236
as to the probable deficit in the, for 1837..
...
5
as to the effect of legislation of the special session in 1837 upon
the, of the current y e a r . . . . . . . . . . . . . . .
96
the entries on the books of the Register do not always show
the true dates of the.
. . . .
.,. . ., 441
explanation of the, of 1842.. 1. ..
.......
..... . . . .
• •.. 603
the average rate of, for several years, deficiency in, &c... - .
605
exclusive'of the trust funds, Treasury notes, and loans, from
1st January, 1816, to 31st December, 1836.
459
average annual receipts from 1816 to 1836, and from 1837 to
1840
.....
.459, 460
excess of average annual, over expenditures for current expenses from 1816 to 1836. . . . .
..
.,
459
exclusive of trust funds, loans, and Treasury notes, &c. from
1st January, 1837, to 31st December, 1840
..
460
statement of the, from customs,, lands, and miscellaneous sources,
from debts and other funds existing prior to 1837, and from
loans and Treasury nbtes annually, from January 1,1837, to
September 30, 1.843
626
from the bonds due by the United States Bank—see Bank of
the United States.
from public lands—see Public Lands.
from customs—see Customs.
from loans—see Treasury Notes—see Loans—'See Estimates.
Receivers of the Public Moneys, made depositaries of the public Moneys in case of a suspension of specie payments by the banks.
59
to receive Treasury drafts in payment for public lands. ... 68
views in 1837 on the propriety of .making, general depositaries .,
• . .
107
continue to make deposits of public moneys in certain banks 192
losses of public moneys by, concerning.
..
.,
. . 194
recommendation of collateral security from? as keepers of the
public moneys, and making any embezzlement by them a
penal offence
195, 196
Treasury circulars in 1838 to the, in relation to the kind of
currency receivable for lands, &c
.215, 217
list of, having public moneys in their hands, on whom drafts
have been placed, &c., and the balance in their hands subject to draft conformable to returns to Dec. 3,. 1838
227
Treasury circular of July 14, 1838, in regard to the safekeeping of the public money, and exhorting them, in the
absence of legislation, to vigilance, and against the use of
the public, moneys to private advantage, &c
230
Receivers General and Treasurers, view;? in. 1840 in regard to
362
ReeXportationis, value of foreign merchandise reexported annually from 1821 to 1842
631,
'
.
632, 635
Reserved funds in the Treasury in 1837.
—
.,
.
1
Retrenchment in the expenditures, views in 1838 on the necessity of, and the proper
objects of,,
•
186
Retrenchment recommended—see Expenses-^-see Expenditures.
Revenue, the Surplus—see Suiyl'us—see Deposits with the States.
considerations in 1837 in regard to the the causes of fluctuations in the.. •••«».• 0 95




702

njTDEX.

Revenue, and expenditures in 1837, further explanations as to the, and the effect upon them
by laws passed at the special session in 1837..
....
96
views in 1837 on the propriety of vesting-authority to issue Treasury notes to
supply any deficiency in the
...
107
views in 1838 on the fluctuations in the, and the reductions in the, under a reduced tariff.
.... ,
.. .183, 184, 185
causes which would operate to diminish the, in 1840, from customs
, . . , 236
fluctuations in commercial prosperity, the crops, the banking policy, and credit
systems of foreign nations, affect the . . . . . . . . . .
. . . . . . . . . 242
. . ....
• • 359
considerations in 1840 in regard to the, for 1841. ..
the best modeof avoiding inequality between the anticipated receipts and expenditures in 1841 and 1842.
.',360
general views in 1840 in regard to the, and the causes of fluctuation in the, &c.. 365
the amount which the, exceeded the expenditures from 1816 to 1837
441
estimate of the amount of, which will be received from customs in part of 1841,
1842, and 1843, under a modification of the revenue laws
—
. . . . 456
received from the 1st of January, .1816, to 31st December, 1836, inclusive, exclusive of loans, Treasury notes, and trust funds.
..
459
received from 1st of January, 1837, to 31st December, 1840, exclusive of trust
funds, loans, and Treasury notes, from other than ordinary sources of income.. 460
from customs and'other sources, from January 1, 1837, to September 30, 1843.. 626
gross and net, from imports of foreign merchandise, from tonnage and light
money, passports, and clearances, from 1821 to 1842 inclusive..
635
outstanding and falling due to the Treasury, arising from other sources than that
of the ordinary revenue, which were paid between the 1st January, 1837, and
4th March 1841
•..
.'..,.. 455
on the importance of adequate provisions of.
,
..
.. .. 490
considerations in 1844 in regard to the resources of the United States as to.
. 656
an augmentation of the, deemed in 1841 to be necessary...
..
469
the probable augmentation of the, in 1844 and 1845 under the tariff of 1842...
603
the average rate of revenue for certain years and the' actual, independent of extrinsic additions, and how the deficiencies have been supplied.. ... . . ..
.. 605
views in 1843 as to provisions to meet deficiencies in the, and the best means of
improving the, &c
...
, .608,610,616
concerning the svstem of collecting the..,
,.
..
618
the yield under the act of 1842.
.664, 671
Revenue laws—see Tariff.
Revenues, amount of, estimated and ascertained—
for 1836.
..
89
for 1837
:
2,90, 109, 175for 1838.
..
..
92,176,178,256
for 1839
180,231,255,371
• for 1840
'
234, 351, 352, 372, 437
for 1841
357, 438, 439, 456, 461, 462, 470
for 1842
440, 456, 463, 485, 491, 598, 599, 620
for 1843 and 1843-'4
487, 488, 599, 600, 601, 623, 678
for 1844-'5
'
.602, 667, 668, 678, 680
for 1845-'6
669
Revolutionary debt, the amount of the . . '
.....
. . . . . . . . . 654
Rice, exported annually from the United States from 1790 to 1838 inclusive, the value of. 286
statement of the value of, exported annually from the United States from 1821 to
1842, inclusive, and of the countries to which exported
.. „
.. 645
S.
Salt, the value of, imported into the United States annually from 1790 to 1835 inclusive.. 276
the value of, imported into the United States annually from 1821 to 1842
637
Saltpetre, refined, the price of, in 1 8 4 2 . . . . .
,.
„
.. . 507
.. ..
508
•Satinets-, American, the prices of, in 1842. ,
...
........
..
Seamen, sick and disabled, considerations in 1843 in regard to relief t o . . . .
617
Security, collateral, for the safekeeping of the public funds recommended in 1838. . .194, 195
Sheetings, Russia, the price of, in 1842.
—
. . ..
507
Silks, the value of, imported into the United States from 1790 to 1838, inclusive. .. ., . . . 276
imported into the United States annually from 1821 to 1842, the value of. . . , , . .
636
Sinking fund, the excess of revenue above expenditures is the only real,
. 653
the, by which the revolutionary and other public debts were paid, the operations o f —
....
. . . . ,,
...
656
recommended in 1844 to anticipate the payments of the stock under the acts
of 1842 and 1843, the mode of providing,. &c
. . . . .659, 664
Skins and furs, exported annually from the United States from 1790 to 1838 inclusive, the
value of
287
the value of, exported annually from 1821 to 1842. .. . . . ..
.
645




INDEX.

703

Smithsonian legacy, invested, &c.
199
Smuggling, marine preventive service a g a i n s t . . . . . . . . . . . . .
618
Solicitor of the Treasury, circular of the, in M a y , 1837, to the United States attorneys in
regard to the collection of duty bonds."
. . . . ... - . . . . . X ... ,
36
Special deposits of public moneys have been made, list of the late deposit banks in which. 222
list of banks in which are made.
.. ., ..
628
Specie and bullion, imported and exported in 1837 and 1838.
..
224
value of, imported into the United States from 1790 to 1838 inclusive.
277
value of, imported from 1834 to 1840.
458
imported into the United States, annually, from 1821 to 1842, value of. 636,
exported annually from 1821 to 1842, and the countries to which exported, value of.
...,.„
.645, 646, 647
"exported annually from 1790 to 1838.
.280, 287
Specie basis for circulation, an enlargement of the, recommended in 1839..
253
Specie in the United States in 1814 and 1837, the periods of suspension by the banks, the
amount of.
...
,..
... ....
,... ..
188
Specie, views in 1837 in regard to imports and exports of,..the bearing upon trade, &C.20,104,105
statement exhibiting the value of bullion and, imported and exported during the
year ending 30th September, 1838.
224
statement of the, and bullion exported annually from the United States from 1790 to
1838 inclusive.
.'
286
annual imports and exports of—see Imports—see Exports.
Specie circulation, the advantages o f . . .
. . . . . . . . . 363
Specie payments by the former deposit banks, views in 1837 in regard to the resumption of. .18,20
banks which had suspended, discontinued as depositories.. .. .
55
Treasury circular of July 3, 1837, to the banks in regard to, and urging
the resumption of
86
views in 1837 on the ability, &c., of the deposit banks at different points
to sustain
...
.'. . . .
103,105
views in 1838 in relation to the resumption of, by the banks. . .. . .188, 191
see Banks for further views in regard to.
Specie circular, memorials of the New York and other merchants in 1837, and the Chambers of Commerce for the recision of the. . . . . . . . . . .
38, 40, 41
from the Secretary of the Treasury, asserting the constitutional duties of that
department in regard to the collection of duties in specie, and against the
recision of t h e . . .
,
43
Spices, imported into the United States annually from 1821 to 1842, the value of
637
the value of, imported into the United States from 1790 to 1838 inclusive
277
Spirits, the value of,.imported into the United Stktes from 1790 to 1838 inclusive.
. . . . . 275
domestic distilled, drawback paid on, annually, from 1821 to 1842.
..
.. " 635
allowance for natural waste, under the British warehouse system
,,..
521
imported into the United States annually from 1821 to 1842, the value of.
..,. ,
637
Spencer, John C., Secretary of the Treasury—see Finances.
Steamboilers, and the best methods of preventing explosions, concerning experiments to
test the strength of.
....
..
,,
108
a promised collection of facts in regard to explosions of
..
199
Steamboats, promised statistics, &c., o f . .
,1
..
, 199
States, the deposits with the—see Deposits.
Stocks, lists of persons to whom the loan of the United States was awarded in 1843, and
the amounts awarded.
.;
. ..
..
629
the marketable value of
.
, . 653
sinking fund recommended to anticipate the payments of the, under the acts of
1843 and 1844.
....
659
statement of the gain on the purchase o f the stock of 1841, in anticipation of its
redemption on the 1st of January, 1845
633
Steel—see Iron.
Submissions, recapitulation of, for 1838.. u
.....
157
Sugar, the value of, imported into the United States from 1790 to 1838 inclusive.
,.
277
domestic refined, drawback paid annually, from 1821 to 1842, o n . . .
...
,..
635
imported into the United States ^annually from 1821 to 1842, the value of. . . .
637
Surplus in the Treasury, not anticipated during the year 1839, for deposit with the States. 181
the existing, temporary and fallacious in its character, &c...
184
views in 1838 on the good policy of avoiding large. . . . . . .
1851
Surplus fund, amounts of appropriations which maybe carried to the, at the end of—
183 7
..
..
•
91, 123, 159, 170
183 8
„-..
180
183 9
..
.235, 298, 335
1840.
..."
.,
.,
358,390, 425
Surveying districts, concerning a consolidation of
607
Survey—see Coast Survey.
Swartwout, Samuel, collector at New York, Treasury circulars to, in 1837
33, 49




704

njTDEX.

T,
Tariff, prediction in 1838 of a diminished revenue consequent upon a reduced, & c . . . . « . « 186
a reduction of the, recommended in 1839.
.
. >.
••<
252
a modification of the act of 1833 recommended in 1840, to prevent or supply any .
deficit, instead of a resort to loans or issue of Treasury notes
.361, 362
the high, of 1824 did not prevent low prices and bankruptcies
368
a modification to .20 per cent, ad valorem recommended in 1841...
442
estimate of the amount which will be received from customs for certain periods,
under a modification of the.
.. . . . . . . .
456
views in 1841 on a readjustment of the, and an increase of the, recommended. .464, 469
views in 1842 in regard to the operations of t h e . . . . ,
. . . . 489
views of the collector of the customs at New York on the
.•« . . .
. . . . . 507
views in 1843 in regard to the operations of the new.
608
a review and reformation of the act of 1842 recommended in 1844
665
views in regard to the operations of the act of 1842. , i.
. .. .. .. . .671, 672, 673
Taxes, the value of, &c.
„„...,
,.
..
..
661
Tea and coffee, duty on, recommended in 1843. . . . .
..«,...
..609, 616
Teas, the value of, imported into the United States from 1790 to 1838 inclusive.,.... . . . . 275
imported into the United States annually from 1821 to 1842, the value of.
...
637
...........................
108
Telegraphs, concerning a system of.
Tobacco, statement of the value of, exported annually from the United States from 1790 to
1838 inclusive.
.. '
...
285
statements of the .value of, exported annually from the United States from 1821
to 1842 inclusive, and the countries to which'exported.,
.645, 646, 647
Tonnage, and light moneys, concerning the duties on....
,...
.....
610
statement of the amount of the, employed in the foreign trade annually from
'1821 to 1842
634
recommendation in 1844 of a change in the mode of ascertaining.
. 672
Trade, -views in 1837 in regard to the fluctuation and revulsions in
95
Treasurer's statement in regard to the condition of the public moneys on deposit with the
banks and Mint, in August, 1837...
.....
64, 65
Treasurers—see Receivers General.
Treasury, the condition of the—see Finances^see Deficiency—see Balances.
in regard to the mode of exhibiting the state of the.
598
Treasury circulars, in 1837
.33, 36, 43, 47, 51, 55, 59, 68, 86
in 1789 and 1790
53, 54
in 1838...
215,217, 230
in 1842
.....
530
Treasury Department, concerning the laws relating to the....
674
proposition for a reorganization of t h e . . . . . . . . . ..,, .108, 199, 252, 349
Treasury drafts, views of Hamilton in 1790 in regard to.
. 54
circular of the Secretary of the Treasury, May 17, 1837, to collectors of
customs and receivers of public money-to receive, in payment of public
dues..
. ..
68
Treasury notes, the issue and receipts into the Treasury, estimated and ascertained, of—
in 1837.
90,17.5,179
in 1838
..,
.92, 176, 178, 179, 256
in 1839
273,371
in 1840
351, 386, 437
in 1841.
357, 438, 439, 440, 461, 470
in 1842...
439,463,485,491,599, 620
in 1843-'4.
..
.
487, 600, 623, 678
in 1844-'5.
...
,..
....
667
the reimbursement and redemption of, estimated and actual—
in 1837
I l l , 179
in 1838
93, 177, 178, 179., 202, 232, 256
in 1839
180, 181, 231, 232, 272, 273, 371
in 1840
234, 352, 384, 386, 437
in 1841
„
35.7, 358, 438, 462, 482
in 1842
:.
.439, 463, 486, 487, 502, 599, 622
in 1843-'4
487, 488, 600, 601, 625, 668, 680
in 1844-'5. ..
680
payments on account of, issued during the late war, amounts payable, &c. 92,
179, 272, 273, 385, 483, 630, 651
outstanding in 1841 ..
. •..... •
484
outstanding in 1842
.... • 504
outstanding in 1843
630
outstanding in 1844.
.652, 676, 677
amount paid' for interest on, from 1837 to 1843
. . . • .626, 627
statement in relation to the issue and redemption of, in 1837 and 1838..,« 179




INDEX.

705

Treasury notes, statement of the issue and redemption of, from the 1st of January to the
20th of November, 1839..
.
273
statement in relation to the issue and redemption of, from 1st of January
to the 30th November, 1840..
386
statement in 1841 of the, issued and redeemable, and balances of outstanding
. .. \
,,.. .. . .. . ,
484
views in 1837 on the issue of, to meet the wants of Government.. . . 7, 9
views in 1837 on the necessity of the further issue of, and on the means
to redeem those payable, & c . . ..
—
97, 98, 101
views in 1838 on the outstanding, and the advantages in the power to
issue, to preserve the public faith, & c . , . . . . .
182, 185
views in 1839 concerning the emission and redemption of.
232.
views in 1840 in regard to the outstanding..
353
views in 1841 against the issue of, to supply the Treasury
. ' . . . . . , 443
views on the propriety of vesting the power to issue, in case of deficits in
the receipts. .. . . . .
.107
an issue of, recommended in 1841, to supply the Treasury
. . . 462
a reissue of, recommended. . ......
. .
.464, 489
the payment of interest on, proposed in 1842, to keep them out
489
considerations in 1843 in regard to the unredeemed, and reissue of .. .606, 613
Trade, recommendations in 1838 of permanent legislation to preserve the finances of Government against the fluctuations in
184
freedom of, recommended in 1839.
........
252
with the British Provinces and West Indies, concerning.
..
253
the natural laws of, cannot be violated without financial evils
367
Trust funds, included in the balances in the Treasury in 1836 and 1837
,.
91
1838
256
expenditures on account of, in 1838.
256
receipts and expenditures on account of, in 1839.
.. 371
receipts and expenditures in 1840
372
balance of, in 1842
599
U.
Unavailable funds—see Balances in the Treasury.
V,
Value of imports and exports—see Imports—see Exports—see Merchandise.
Vessels engaged in the whale fisheries, &c., concerning the papers and registry of

350

W
Warehousing ports in Great Britain, list of, and of goods that may be warehoused in each..524,527
Warehouse system, extension of the, recommended in 1837.
..
.. ..
.. .5, 107
views in 1841 concerning a
490
act 3 and 4 William IV, of 28th August, 1233, regulating the, of Great
Britain. . .
508*
list of the principal articles of foreign merchandise remaining in warehouse, under the locks of the Crown, in the London, Liverpool,
Bristol, and Hull, in January, 1832 and 1833.
,.
524
circular from the Treasury Department, and responses thereto by the
custom-house officers and Chambers of Commerce, in regard to the... 530,
531 to 595
considerations in 1843 in regard to the.,,
. . 613
Warrants, statement of the number and amount of, drawn on the United States Bank and
branches, and the other banks which were depositories of the public money
in the year 1834.
...
. 61
drawn on the banks and Mint in August, 1837, and not paid
"
65
Wares, earthen, stone, and China, imported into the United States annually from 1821 to
1842, the value of.
..
..
636
Washington city, the debt of, assumed by the Government
179,
273, 352, 357, 358, 371, 385, 483, 504, 630, 651
Weights and measures, concerning the standard of..
.. .108, 253
concerning the progress in the manufacture of...
.. .. 199^
Wine, loss for natural waste under the British warehouse system
.,
521
Wines, the value of, imported into the United States from 1790 to 1838 inclusive. . .
275
imported into the United States annually from 1821 to 1842, the value of.
. . . . 636
recommendation in 1844 that the duty on, be changed to an ad valorem. „.......
66
VOL. I Y . — 4 5 .




706

njTDEX.

Woodbury, Secretary—slee'Fmarichs;
'Woolens-, the" value of ? imported into the United1 Staifes'from; 1790 to 1838 inclusive
imported'into:" the United States annually frbm: l$21 : to 1842, the value of.
"Worsted linings,' the prices'of; in 1 8 4 2 ; . . . . . ... . V . . . .
. ..;
i.




275
636
508


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102