Full text of Annual Report of the Secretary of the Treasury on the State of the Finances : Report on the Finances, December 1848

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T A B L E OF CONTENTS.

Report of Mr. Walker on the Finances and Warehousing
tem
Dec.,
Report of Mr. Walker on the Finances
Dec.,
Report of Mr. Young in regard to an error in the Report
of 1847
Jan.,
Report of Mr. Walker on the Finances
Dec.,
Report of Mr. Walker on the Warehousing System. -Feb.,




Sys1846
1847

176
119

1848
1848
1849

275
279
343

REPORT
OF.

THE ACTIKG SECRErARY OF THE THEASURY,
IN RELATION TO

A CLERICAL ERROE IN THE ANNUAL REPORT ON THE STATE OF THE FINANCES.

TREASURY D E P A R T M E N T , January 19, 1848.
S I R : In the report of this Department to the two Houses of Congress,
of the 8th of December last, a single clerical error was committed, by
omitting to carry into the financial statement which precedes the rest of
the report, a sum contained in the table B, referred to in said financial
statement, and made a part thereof. The omission, itwill be observed,
is not in the report itself, for it refers directly to the. sum omitted, and
makes that sum, by reference, a part of the report; but it is a mere
inadvertence, arising from the failure of the clerk who prepared this
table forthe Register, to enter this Suni therein given into the financial
stat'ement preceding the rest of the.report of the Secretary of the
Treasury,'
For a long period, under maiw successive Administrations, this financial
statement has been prepared by the same clerk in the Register's oflice,
who prepares the tables of feceipts and expenditures, certified by the
Register', upon which the financial statement made by the Secretary is
founded.
This clerk, Mr. John D. Barclay, is well Jcnown in this city as a gentleman of the most exemplary character, and as a clerk in this Department for more than forty years, and has never before made any known
mistake or omission. In this case the omission which he had made was
discovered by himself, and brought by him immediately to the attention
of the Department, in his letter acconipanying this report, and which
explains fully and satisfactorily how this omission was ma;de by him.
This gentleman being responsible to the Secretary of the Treasury
fbr the correctness of the financial statement presented by him to the
Secretary, withthe sums filled up as the actual receipts and actual expenditures, founded upon the tables prepared by him, if an error appears




276

R E P O R T S OF T H E

.

[1848.

in that financial statement, or the accompanying tables of the receipts
and expenditures, the Department would nbt neglect to animadvert upon
this omission by Mr. Barclay, to carry correctly the sums from the tables
to the financial statement of the Department, if his explanation in the
accompanying letter had not been satisfactory.
It is due, however, to him, to say that he himself first.discovered the
error, and made it known immediately to tbe Department, wdth the explanation contained in his letter. Whilst Mr. Barclay frankly acknowledges
the error, he states that it was committed by him *^in consequence ofthe
great press of business in the Treasury Department, day and night, in
preparing statements to accompany the report of the state of the finances."
This statement is entirely correct: but it is due to Mr. Barclay to make
it still stronger than he has modestly stated it.
His labors as regards the report comuienced in October last, and continued uninterruptedly night and daj^ until the 8th of December, when
the report was signed. During this.. period of long and unremitting
labor, both by day and night, he has prepared.a mass pf tables and
fina,.ncial statements unprecedented in the liistory bf this Department.
It has heretofore been usual to bring the state of the finances down only
to the date of the 30th of September, the close of the first complete
quarter of the current fiscal year; but on this occasibn, the first, it is
believed, since the organization of the Government, the financial statements and tables are brought down to the first day of December, a few
days preceding the date of the report.
The table B, from which Mr. Barclay failed to. transfer the. sum omitted, is dated the 1st of December; and when it is considered, as will
appear by reference to the report, that, hi addition to many papers
accompanying it preceding in date the 1st of December, there are more
than forty of that and of a subsequent date, some idea may be formed
of the labo.r attending the preparation bf the report, and especially between the 1st and 8th of December, when this.error was made by Mr.
Barclay; and it is due to hini to say, that no other error can be found in
the report or tables, and that it is the first known en'or or omission ever
made by him from his youth upwards, during a period of more than
forty years of most useful, arduous, and uninterrupted labors in the
Treasury,
; Under these circumstances the confidence of the Department and of
all its officers in. Mr. Barclay remains unshaken, as well as regards his
high moral worth and great experience, accuracy, and knowledge-of the
financial operations of this Depailment.
It is a matter of congratulation in this case that the omission is of a
credit .given in table B, communicated with the report to Congress, and
which, therefbre, they must have ascertained as soon as the report and
• tables were printed and laid befbre them, the omission, being a mere
failure by Mr; Barclay to transfer the surn omitted from the table referred
tp and accompanying the financial statement into the corresponding column of the financial statement prepared by him for the Secretary from
that table. The insertion of this sum in those columns of the financial
statement where it shpuld have been placed, would have increased the
receipts and means of the Treasury, as now shown by Mr. Barclay,



1848.]

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

277

$6,915,078, and-would reduce the loan asked for by the Department to
a suni not exceeding twelve millions of dollars.
The amount of labor performed by the head of the Department from
some time in October till the 8th of December in the preparation of the .
annual report, as well as by the several officers and clerks of the Treasury, is unprecedented in the history of the Department; it being the first
time when a complete review was attempted of the operation of our
financial system throughout a period embracing .the existence ofthe Government, and brought down complete to the 1st of December preceding
the date of the report. During this period, from incessant labor night
and day, several of the officers of the Department were subjected to
attacks of Ulness, but none so severe as the Secretary himself. He was
attacked about the last of November, and remained under medical treatment until the report was signed and transmitted to Congress, when by
increased illness his physical powers became so entirely prostrated that he
was eompelled to relinquish the performa'nce of his official duties, and is
still unable to resume them. This omission took place but a few days before the report was communicated to Congress, and when the Secretary
v^as suffering-great pain and severe illness. In looking at the sum omitted by Mr. Barclay, it will appear very similax to another sum actually
inserted at the same place in the financial statement, both being (the one
• inserted, 'as well as the one omitted) " from avails of Treasury notes and
loansj" and both for a sum.of between six and seven millions of doUars—
the one in table G, accompanying the report, which is inserted properly,
and'the other in table B, which was,-as above stated, inadvertentty
omitted ; otherwise—notwithstanding the illness of the Secretary when
he examined the financial statement, and read it over, as well as the
report, to the proper officers and clerks in the Department, with a view
to comparison, and to insure accuracy in the financial statement and
report—the error must have been discovered. But any discovery ofthe
omission, either by the Secretary of by any of those cooperating with
him, and so • anxious to secure correct statements in every particular,
• was prevented partly by the' confusion arising from the great resemblance
betweeh the item omitted in table B to that properly inserted from table
G; partly by the weUrmerited confidence, still unabated, in the accurac}^
of Mr. Barclay, so well justified by more than forty years of most useful
labors in the Treasury, and partly by the illness of the Secretary himself at the date, of the final comparison, but stiU more- from the exhaustion'of Mr. Barclay, by his long-continued and incessant labors, and his
consequent absence at the date of the final ^comparison, otherwise it is
'not doubted but that he would have observed the error in his own statement, and that it would have been corrected before the report was
signed and transmitted.to Cbngress.
In looking over the course pursued by the distinguished predecessors
ofthe present Secretaxy in this Department, when an error was commit-,
ted by them-in .any of their reports, the best practice was to communi' cate it fully and frankly at once to both Houses of Congress, and those
best precedents and examples are now adopted,
Whilst it is- deeply to be regretted that any error was committed,
although in this case a mere omission to transfer from one statement to



278

R E P O R T S O F T H E SECRETARY, &e.

[1848.

another the sum in question, and although that sum in the one statement
was communicated to Congress in the accompanying table referred to in
that statement, and therefore inust have been ..observed-as soon as the
report and table were printed, yet it is a matter of .cbngratulation to.
every friend of our beloved country, and of every member of both
Hbuses of Congress, that the sum thus bmitted to be-transferred from
the pne statement to the other diminishes so much the apparent indebtedness of the Governmenf, and enables us to reduce the loan requested
to a sum not exceeding twelve millions of dollars.
I am, very respectfully, your obedient, servant,
McCLINTOCK YOUNG,
Acting Secretary ofi the Treasicry.
To the Hon. G E O . M. DALLAS,

Vice President ofi the United States, and. President ofi the Senate.

• JANUARY 17, 1848.

S I R : I have the honor to state that, in consequence of the great press
of business in the Treasury Department day and night in preparing
statements to accompany your report on the state of the finances, dated
the 8th of December last, an error was unfortunately made by-my omit-^
ting to insert in the estimate of receipts and expenditures for the fi.scal
year ending June 30, 1848, embodied in your report, four itenis of
receipts for Treasury notes and loans, specified in the statement B,
showing the receipts and expenditures for'the quarter .ending September,
1847, prepared in the office of the .Register, of the Treasury to accompany said report, and which fbur items amount in the aggregate to the
sum of $6,915,078. If this omission had not been made, the estimated
means for the fiscal year ending 30th June, 1848, would have been
increased by that amount, and would consequently reduce the estimated
excess of expenditures over the means on the 1st July, 1848, from the
sum of $15,729,114 27 to the sum of $8,814,036 2 7 ; and also the esti- "
mated excess of expenditures bver the means pri the 1st July, 1849,
from the sum of $36,274,055 99 to-the sum of $29,358,977 99."
I have had for .many years the duty to perform of embodying the
items of the fiscal repbrt of the..Treasury, and this being the first
instance wherein I have committed an error, I regret it exceedingly.
Having discovered it in examining the details of your report, i now
promptly inform you of the fact, that you may take such means to have
it corrected as 5^ou may deem proper.
I am, sir, very respectfully, your obedient servant,
JNO. D.BARCLAY,
Hon. ROBERT J. W A L K E R , Secretary of the Treasnry.




REPORT ON THE FINANCE.S.
DECEMBER, 1848.

.

TREASURY DEPARTMENT, J9ecem&er Oj 1848,

In obedience to la,w, the follbwing report is submitted:
The receipts and expenditures for the fiscal year ending June 30,
1848, were—.
^
. .'
From c u s t b m s . . . . : . .
$.31,757,070 96
From public l a n d s . . . ; . .
-3,328,642 56
From miscellaneous sources
v
..:...
351,037 07
From avails of loans and Treasury notes J . . . . . . . . . . .
21,256,700 00
Total receipts .
Add balanee in the Treas.ury, July 1,1847.

56,693,450 59
1,701,251 25

.
Totalmeans^................................
The expenditures during the same fiscal year w e r e . : .

58,394,701 '84
-58,241,167 24

Leaving balance in the Treasnry, J n l j 1, 1848, of.....

453,534 60

. As appears, in detail by accompanying statement A.
The estimated receipts and expenditures for the fiscal year ending
June 30,- 1849, are—
From-customs—1st quarter—by actual returns ...
$8,991,935 07
From custonis—2d, 3d, and 4th quarters—as estimated 23,008,064 93
From public land§.^ . . . . . . . . . . . .
From miscelianeous sources

._.,..
-„

.,

32,000,000 00
3,000,00.0 00
1,200,000 00
.36,200,000 00

Fromipans and Treasury notesrr-lst quarter-^by actual retnrns, per statemmit B . . , . . . $10,127,200 .00
From loans ?and Treasury notes-^gd.



^280

R E P O R T S OF T H E

3d, and
ment C

[1848-

4th quarters—per state$10,568,235 30
_
$20,695,435 30

. Total receipts
Add balance in the Treasury, July 1, 1848

56,895,435 30
153,534 60

Total means as estimated '
...»
. . . » 57,048,969 90
Expenditures, viz:
The. actual, expenditures for I s t q u a r ter, ending September 30, 1848,
were,
$17,866,104 91
As appears in detail by accompanying
statement B.
The estimated expenditures during the
other three quarters, from October 1,
1848, to June 30, 1849, a r e Civil list, foreign intercourse, and miscellaneous
,.
12,169,354 61
Army proper, &c.
10,464,809 80 ^
Fbrtifications, ordnance, arming mili.
tia, & c . . . . . .
..
1,846,697 29
Indian department1,589,158 18
Pensions....
722,706 12
Naval establishment...
6,089,032 56
Interest on public debt and Treasury
notes.....'.'-........-.'......-.....
3,285,422 28
Treasury notes outstanding and payable when p r e s e n t e d . . . . . . .
..
161,989 31
~
— 54,195,275 06
Leaving a balance in the Treasury,.July 1, 1849

$2,853,694 84

The estimated receipts and expenditures for the fiscal
year commencing July 1, 1849, and ending June 30,
1850, are—
From customs
$32,000,000 00
From.public lands
3,000,000 00
From miscellaneous sources
.'
400,000 00
Total receipts.
Add balanee in the Treasury, July 1, 1849
Total means as estimated

35,400,000 00
2,853,694 84
.^

. $38.,253,694.84

The e:^penditures during the same period, as estimated
by the several Departments of State, Treasury, Wai',
Navy, and Postmaster General, are^.
The balances of former appropriations, which will be
required to be expended in this year . . . . . . . . . . : . .



.

(

$3,762,537 ^9

1848.]

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

Permanent and indefinite appropriations..
Specific appropriations asked for this year

281
$5^297,512 52
24,153,102 92
33,213,152 73

This sum is composed of the foUowing particulars:
Civil list, foreign intercourse, and miscellaneous
$9,347,790 91
Army prbper, &c.
- - - - " 5,902,428 61
Fortifications, ordnance, arming niilitia,
&c.......
..
2,242,559 00
Indian department..
......
1,104,014 45
Pensions.
•
1,458,400 00
Naval e s t a b h s h m e n t . . . . . ' .
: . 9,358,857 38
Interest,on public debt and Treasury
notes
..
...-.
.....
3,799,102 38
Leaving a balance in the Treasury, July 1,;1850
' • •

5,040^542 11
. $38,253,694 84

-This statement shows a balance in the Treasury on the 30th June,
1849, of $2,853,694 84, and a balance in the Treasury on the 30th
June, 1850, of $5,040,542 11.
In the estimated expenditures for.the year ending on the 30th of June,
1850, are included balances of appropriations" amounting to the sum of
$3,762,537 29, a considerable portion of which may not be required.
Unless n e w a n d extraordinary expenditures are authorized by Congress, no further loans will be required, and the public debt, may be
reduced. .
•
•
• " . ;
The whole net revenue from duties- during the entire period of four
years and three months'of the. operation of the tariff of 1842, (per table
D,) was $101,554,653 12, being an annual average of $23,895,208 32.
The net revenue received from the tariff of 1846, during its entire opera,• tion from 1st of December, 1846, to-30th of September, 1848, (per table
E,) was' $56,654,563 79, or an average'of $30,902,489 28 .per annum,
being an.average of $7,007,280' 96 more per annum under the tariff of
1846 than was received under the tariff of 1842.
The net revenue for the first, fiscal yearunder the tariff of 1846, (per
table A,) was $31,757,070 • 96, being $757,070 96 more, than the esti,mate of this Department; and this ariiount would go on augmenting
every year under this act, with a favorable state of foreign commerce
and industry, in a ratio atleast as.^great as the increase of our population.
As the high duties underthe act of 1842 were rapidly substituting the
domestic articles and excluding th,e foreign rival, the revenue must have
decliried.- If hov/ever, the.act of 1842 had yielded'the average revenue
received during the period of its actual operation, this, we have seen,
would have been an annual loss of .upwards of seven millions of dollars,
as compared with the average^revenue'of the tariff pf 1846. With such
a result, instead, of a large-surplus on the. 30th of June, 1850, there
wo.uld have been an addition of more than twenty-five millions of doUars



282

fi

REPORTS OF THE

[1848.

to our national debt, which must"feive gone on rapidly increasing,,
requiring'in time of.peace new .and large loans to be. negotiated. If,
also, the proceeds of the sales of the pubhc lands were taken frpm the
Treasury for distribution among the States, the augmentation ofthe debt
and accumulating interest would have been still more rapid and alarming. From this disastrous condition we have been .saved by the tariff
of 1846, yielding from reduced taxes an average .excess, thus fair, of
more than seven millions of dollars over, the average receipts from the
tariff of 1842. Had that act remained in' force during the war, from
diminished revenue the log.ns must, have been greatly augniented' in
amount, with a smaU'and declining income, and instead of premiums
realized large discounts must .have been allowed-. That.the .reyenue
would have declined, results froin the position of.the protectionists, that,
by continuing the system a few years, they would supply the whole
home market with the protected domestic articles,..when the foreign
importation must cease, and the revenue also. The result, then? of protection must be the annihilation of^the foreign import trade ofthe country,
so far as regards protected products. With the exclusion or diminution
of imports, the exports must cease, or be reduced, for foreign nations
. could not buy then.
, ,
. We exported last year (per table F) $130,203,70.9 in value of domestic
products and fabrics,.exclusive pf specie; and under Ipw duties this
must go on augmenting. But how can foreign countries-pay for these
exports if we will talce np imports, or very few, in return?. .Clearly our.
exports must in time cease, or faU. to a. very s'maU sum; the foreign
markets must be destroyed, and theprice of bur staple exports of cottpn,
of rice, of tobacco, of breadstuffs, and provisibns, .must decline; .for we
cannot take the return in ^ specie from, abroad-without exhausting - those
markets in a single year; nor can "we consume at home this augmenting
surplus. The British empire (per table G) took frbrii us (not during the
year of famine, as it is c'alled?'of 1847j. but) in 1848,-our domestic
exports, including cotton, ric^, tobacco, breadstuffs and provisibns, and
other domestic articles, exclusive of specie, of the value of .$78,741,416,
and Great Britain and Ireland of.the valueof $64,222,268 ;. and this is '
the trade of our best foreign custoriier,, which., protectionists propose to
sacrifice by high or prohibitory.duties. If the tariff of 1842 gradually
excluded, as it must, nearly all British fabrics, .could .they "take
$78,741,416 in value of our exports, whUst we 'would take -from them
scarcely,anything but specie in exchange? Such a trade' wpuld-exhaust
Great Britain of her surplus specie in a single year, and leave her nothing
with which to purchase our exports ; and so in.regard to all other nations*
Thus \vould go our fpreign markets, commerce, and revenue, arid with
them our €arr3dng trade; and our vessels and steamships would remain
at the wharves without freight. .
• '.
,- ^
If- the importation of protected -articles would rapidly decrease when .
the foreign were high in price, and specific: duties, operated as a ^protection, under.the tariff of 1842, from 41 to. 243 per cerit., (per table H,
compiled from Treasury returns in 1844,). what must not have been the
decline of importation and revenue when the foreign'article fell, asit has
in many cases, fifty per centj bringing up the specific duty frbni ,41 to



1848.]

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

283

82, and from 243 to 486 per cent. ? This fact illustrates another objection to the specific duty, namely, that although it professes' to be stationary, it is in faict constantly augmenting, from reduced prices of foreign
articles. Experience proves that from improved machinery, new inventions, and reduced cost pf .productibn, the foreign articles are constantly
diminishing in price, !whilst the >pecifi-c duty remaining unchanged, it is
continually increasing'in ratio as an equivalent ad valorem,, and the protection augmenting every year. Thus, if the price of sugar was six
cents a pound, and the duty three cents, it would be equal to fifty per
cent, ad valorem; but if the price of sugar fell to three cents,.the duty
would bave risen t o one hundred per ceiits. :ad valorem; thus doubhng
the protection, and continually augmenting with- decreasing, foreign
prices, until, the duty becomes: prohibitory, and the revenue on such
articles disappears; whereas the ad valorem bears under all changes, of
price the same exact ratio to the cost of foreign fabric, and therefore is
the most just and equal, as-alsb necessarily insuring a larger revenue.
Annexed \vill be found the table marked H, of seventy-four principal
protected articles, prepared at the Treasury Department in 1844, from
actual returns, and- attached, together with others, to the very "able
report of Mr. McKay, from the Committee of Ways and Means, of
March 11, 1844, embracing coal, iron, glass, salt, sugar, cotton goods,
&c., &c., showing the actufd specific and minimum duties under the
tariff of 1842, on those'articles,, and the equivalent ad valorem, ranging
from 41 to 243 per cent. Now, if these foreign article.s have fallen in
price since that date 50 per. cent., the equivalent ad valorem would of
course now range from 82'per cent, to 486 per cent., and would go on
increasing as'the fpreig-n article diminished in. price,.. soon becoming
absolutely p.rohibitory and destroying all revenue. In this aspect ofthe
ca^e, the objections to the specific duties as a permanent system, with a
view,to revenue, are insuperable; whilst their unjust operation upon
labor; in imposing so much higher duties, as an equivalent ad valorem,
on the cheaper than the" more costly qualities of goods, cannot be successfully defended.
•.
' Our manufacturers do not desire the restoration of the tariff of 1842.
They know, froni its excessive and prohibitory duties, it will soon annihilate imports arid revenue^ and produce a reaction fatal to the. protective pblicyi ^ They know,.also, that from its immense bounties, ranging
at present prices from 60 to 300 per cent., itwill stimulate domestic
prbduction in a few years to such an extentas finally to prove most disastrous tb our manufactures. That which our manufacturers now
desire, is what they regard as moderate duties, made specific in certain
cases. But these specific duties will, as has been shown, be found constantly augmenting in-ratio under .the operation of the general principle
by which the foreign article is continually tending to. a diminished price; ^
whereas the ad .valorem, always -bearing the same proportion to the
value of!the import, is therefore always the most just and equal, and
yielding the largest revenue. The augmerited' revenue under the tariff
of 1846 has proved^that ad valoreni duties can be fairly assessed and
collected. It is shown .dlso" by the returns, that' this augmented revenue
is derived'from a comparatively small amount'of foreign imports con


284

R E P O R T S OF T H E

[1848.

sumed in the United States; thatamount, as shown by the table before
referred to, (marked F,) of all these foreign' imports thus consumed in
the year ending 30th June, , 1848, exclusive-pf specie^ being but
$127,490,012, upon which was realized a net revenue, of $31,757,070 96.
It appears also from' the "table, that, so far from this tariff having filled
the country with foreign goods beyond its capacity for consumption, the .
domestic exporflast year, exclusive of specie, actually exceeded by the
sum (per same table) of $2,713,697 the foreign imports, exclusive of specie, consumed the same year in the United States, including all articles
but specie, bpth free and ' dutiable; thus' showing a balancb of foreign
trade in our favor, without taking into view the immense prpfit realized
in the fbreign market on our exports, generally estimated' at about fifteen
per cent., or the profits of freight and navigation. This was not a year
.of famine abroad, but of abundant crops in Europe, attended also with
revulsions there highly unfavorable to our" commerce, creating innumerable foreign bankruptcies, by which' vast sums were Ipst tp American
creditors, required to be replaced by the export of .our specie, which
was/greatly augmerited by the discredit in our market of aU bills drawn
on our foreign shipments, producing, by this- artificial rise of exchange J
an unnatural demand for specie, and a consequent exportation. But all
this specie must soon come back' to our country, except so far as.itis
lost by foreign barikruptcy.
'
! It appears that fbr the year ending June 30,4848^-not of faihine, but
of abundant crops in EuropcT—our exports of breadstuffs and-provisions
(per table I) amounted to the sum- of $37^,472,751,. being largely more
than dpuble the average annual export during, the tariff of 1842. The
result this year demonstrates that even without a famine, and in seasons
of good crops abroad, and.even when their means \vere exhausted the
preceding 37-ear by an unprecedented loss of specie, producing^ unparalleled revulsions and bankruptcies, yet with low duties enabling them
to exchange their fabrics foi\ our surplus of agricultural prpducts, they
.could and did take a large amount of our breadstuffs and provisions, to
the value of $37,472,751.. "Thus, whilst our farmersfourid this large
foreign market for their surplus j'which btherwise must have remairied
unsold here, our navigating interest received a new irnpulse as well as"
our commerce, our tomiage having increased during the last year (pef
table F) from 2,839,046. to .3,150,502 tons, being more than three times
. the increase we ever realized in the same time under any-protective
tariff, and making the whole increased tonnage, under the tariff of'1846,
588,417 tons. -The increase of our commerce during the two years
since the enactment of the tariff. of 1846 has been so •great that bur"
domestic exportSj exclusive bf specie carried abroad, exceeded, by the
.vast sum of $80,605,'1'81, the exports of the two years preceding under
the-tariff of 1842.
. . :
Wliilst the tariff of 1846 has thus augmerited our commerce, tonnage,
and revenue, it has'seen the country pass uninjured through the ordeal
of an expensive foreign war, absorbing' and withdrawing from industry
nearly fifty miUions of capital for loansi It has seeri the great revulsibn
in England of" 1847 pass over us almost ".unharmed,•.whilst the general
overthrow of Governments on the continent of Europe, with the unparal


1848.]

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

285

leled destruction of confidence,-credit, and industry there, arid with millions lost tp our merchants by foreign bankruptcies; yet, even through
this ordeal, under the benign influence of the tariff of 1846, the country
has passed, and is still prosperous and progressive, and prices of manufactures are far.less depressed than has been, the case in all such preceding revulsions.
.
Upon'the reenactment. of the tariff of 1842, or any similar restrictive
measure, smuggling to a vast extent will becorrie an organized system.
By estimates.from the Topographical Bureau and.Coast Survey, hereto
annexed^ (marked A A and B B , ) ' i t appears that our direct maritime
ocean front, exclusive- pfbays, inlets, islands, &c., amounts to 5,120
riiiles, our/frontier,upon Mexico to 1,456, and our frontier upon the British possessions, to 3,303 miles—making in all 9,879.mUes which we
have to guard against smugglers. But if, in addition to- this, as must
,be done, we take the shore line ofthe United States pn the Atlantic, the
Pacific,.and -the Gulf, including the bays, sounds,,and other irregularities of the sea shore, and. of sea islands, and the rivers to head of tide,
it makes a'.distance of 33,063 miles,, as estimated by the Coast Survey;
which, added to 4,759 miles of frontier upon the British and Mexican .
po'ssessionsj constitutes an entire line open to smugglers of 37,822 miles;
to protect which against illicit importation, under the temptations of such
a tariff as that of 1842, would be impossible.
In this manner srnuggling, so debasing and demoralizing, so destructive of revenue, so injurious tothe honest trader and to the whole country,
creating a contempt for the laws. and authority of the Union, would
becomethe " safety-valve" of the protective policy, by the operation of
causes beyond all governmental pontrol.
_
.
.
- Since my last report, the continent of Europe has been convulsed by
revolutions and civil commotions, paralyzing their commerce, credit, and
industry,- and diminishing our trade with them, compared with what it
would have been if these events had hot occurred. Nevertheless, such
have been the advantages of our more, unrestricted commerce with all.
the world, that the estimates of revenue for this fiscal year, presented in
my last report, may yet be Teaiized-—the quarter ending on the 30th of
September last; being the first quarter of the present fiscal year, having
•yielded $8,991,935..,07.
•
The adoption by each nation.of high tariffs is a war upon the labor of
the world. As labor is more .productive, capital is niore. rapidly
increased and wages augmented; yet the tariff, by compelling each
nation tb employ a pprtion of its industry in articles which can be produced more cheaply abroad^ and refusing the exchange, forces labor
throughout .the world into less.profitable pursuits; and, as a consequence,
•diminishes the prod.ucts of labbr as" well as its 'wages. Thus, if silks
can be manufactured at a less cost in Europe, and breadstuffs more
cheaply in this country^ and by high tariffs we prevent the import of
silks here, whilst by similar tariffs abroacl, or their inability to purchasp
from us because.we willnot take their fabrics in exchange, our" breadstuffs are excluded to a greater' or less extent from their markets, and
their silks from our own, labor is forced in both'countries into less productive pursuits, and both parties have sustained a loss. International



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tariffs diminish the aggregate value of the profits of labor to the extent
of hundreds of. millioris ofdollars every year, and reduce cbrirespondingly
the wages of labor.. It would be most useful to examine the tariffs of
all nations, and" ascertain hpw much labor, in each is thereby, divprted
into less productive pursuits. These tables have never-yet. been' cbllected; but if of the thousand.million people of the earth, the labor- of
two hundred miUions is thus rendered less profitable to the extent of pne
cent a day for each,, the •annual'loss would be six hundred millions of
dollars. • Man was commanded-tb.labor.; but he "was. permitted.by.his.
Maker to employ his iridustry iri each country in those'pursuits for which
it was best suited, and -where.his labor would be'less severe a;nd better
rewarded. But t h e laws. of. man/, by; high duties, diminish: the products
'of his industry, thus augment his hours of toU, and deprive .-him of the
time designed by his Creator forthe acquisition-pf knowledge. These
laws, alsb, whilst. dimiriishing/. the wealth of nations, produce discord
between them^ each by high tariffs proclaiming war upon-the industry
of all others. Under .free trade, each nation wiU prbfit by the labor of
every other; each will employ its industry in those pur suits.for which it
is best adapted, and the surplus p.f each be thus exchanged w;ith the
others by a reciprbcal commerce beneficial to all parties. .The true
industrial interests of nations are identical; and in exchanging with each
other the products most cheaply produced.by each, labor, everywhere
benefits labor, man his brother man, and .nations each other; and their
only antagonism is introduced by human legislatiori. The doctrine .of
free trade is the petition of labor to em.ploy itself everywhere in those
pursuits best adapted bj'^ nature to every country, and; yielding, therefor
in each the largest.products and'highest wages. It lb oka upon, our: race
everywhere as friends,.as .brethren; as equal iri rights;'arid;u^^^^ in
interest and destiny.. Rightly understood,' there is perfect unity of
interest between man and- inan, a;nd.' natibn and nation, .arid between
capital and labor.
-. , /
-. ' .
-^
.
W e see the benefits.of reciprocal free trade, amorig'all the St.ates, of
this Union; although the.ir wages, products,.and,fabrics are as various
as those of separate natioris,, yet. all the States.find .it to.their true
interest to admit freely, the products; of,- e^ach. The benefits of this
unrestricted reciprocal commerce constitute the great bond/of-interest,
constantiy augmenting, which keeps together the-^arious parts; .but if
the,protective doctrme be' true, it, would-be the rbal interest of each and
of all these States to impose duties upon siniilar •products in others for
the pro tection..of the people of each State.; Yet 'dear as is this; proof of
the benefits of reciprocal free trade between the States of this Union, the
principle, as a question of political economy, is the same extended to
other States not united with us under the same- Government. The difference in their political institutions^ cannot affect the great principles of
commerce. . The local laws, of Ohip and Louisiana, of Mississippi and
Massachusetts, are more variant in ,some respects than those of many
other States beyond the"Iiniits of the Union. • Now, whilst we; acknbwledge; the benefits, of reciprocal free trade between theserfour Statesy thus
differing iri. their local institutioris, wages, and products, the protectionists deny that it would-be beneficial to-establish reciprocal, unrestricted



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commerce with other States beyond our hmits. Yet variant forms of
governmpnt can make no difference as to the reciprocal benefits of commerce. If free trade be beneficial among all republican States, it might
at least be extended to them, althpugh monarchies w^ere excluded; but
none willriiaint"aii:ithat nations should restrict their commerce, with each
other, because-the.y differ in their form of^government. Although governments may (differ;, we ar^ one race; throughout.the-globe; the toiling
millipns who inhabit it have one interest; and, as a question of political
econoniy, the benefits of free trade must.b
whether extended
to States within.or beyond the. hm^
and each
State, thpugh separated hereafter, by some catastrophe-from every other
State, would be alike still benefited by reciprocal free trade among the
whole,; for their coramercial interests would not change with the separation from t h e confederacy;
•/
;
" ^
^ A Cbngfess^representiiig tlie ^several.. States of .this,Union perceive how
injurious would be the.effect of a tariff by any one upon, its bwn interest
and that of .all the. States. Now,, trade is not geographical pr political;
and if a cengress pf dete^
all nations; were assembled, they
, would spon perceive that cbmmb^^^
that it was not local,
but international;. and-that tariffs by one: or. iriore•<nations, on the products of others,, were just as: injurious to each and to allnations, as would
be a tariff iri. one Sitate npori theprpductionsof all the other States ofthe
Union, .If, ;tben, in-.such a congress, of.all nations, reassembling from
;time to.iime, "theh- several. tariffs, were :discussed,. and their injurious
effects upon each and every* other nation demonstrated, the whole protective system-thrpughput the world;would.faU'before the light of such
an inye&tigatiom Wheneyer the: laws-bf nature are beyond the reach of
niari, there .is.,perfect order under the'direction of-almighty power; but
wheneyer nian /can /.disturb; these feiws, discord and injury are sure to
ensrie., .The earth,/the suny and Gountle.ss systeins wheeling through
universal space, move onward in perfect order ...and beauty; but even the
harmony of the spheres; would be disturbed,: if the legislation of man
could interfere; and; arrest the laws of nature; -The natural laws'which
eontrbl trade between nations,; and regulate the relations between capital
and> profitson. the.bne; hand,, and wages.and labor on.the other, are perfect and hanriohibus, and the laws of rrian which would effect a change
are alw^ays injurious. T h e l a w s of political economy are fixed and
.certain. Let them alone'is aSi'tk^
let all international exchanges of prpducts move as freely in their orbits as the
heavenly/bodies; in their, spheres,, and their order and harmony will be
as perfect, and their results' as beneficial, as in every movement under
the laws of naturey .when undisturbed by the errors and interference of
'man.

• . , _ ' ;. " •• '•/•

:

-^ •

.

,

-•

If laboris dear here and low abrpad, in the exchange of products we
get more of theirs for a-smaUer ariiount of ours, and gain by the exchange.
The cheapness, of foreign labbr is an argument in favor of exchange with
them. Thus, if we concede/as. to linens, that Europe, from cheap labor,
could, afford tb/seil t'^b yards for what one would cost here, it would be
our .interest to purchase frorn them at the reduced price. But accor dingto the protective: thepry, the cheaper the foreign labor,\and the lower the



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[1848.

price ofits products, the more should we exclude them by higher rates
of duty. In^ the absence of duties, | we'will -exchange our surplus products for their cheaper fabrics; and our lahor'being'^ apphed to the.
production pf articles thus exchanged abroad, wages will be. enhanced
here by obtaining more extended markets for our. products,, and - getting
for them a greater quantity of useful articles a:t lower prices; Iri the
absence of tariffs, the division of labor would be accbiding te, the laws
of nature in each nation, and the • surplus of each y^vpuld thus be
exchanged among'the whole, each employing its labbr only in t h e most
productive pursuits,.and therefbre the .aggregate profits would.be.largest^
If labor were so low in-any foreign cpuntry that they could furnish, us
goods at almost nominal/prices,^ and these cheap articles" were such as
we wanted here, it would be onr iriterest to purchase.thern in exchange
for our products; and.the cheaper the foreign...articles;,.the^ greater
would be our gain in the exchange.. It is a strange objection to the.purchaser "of fbreign articles, t h a t t h e price is-too Ibw.
•
' '
The argument-.that ^ e must encourage our infant nianufactures was.
always fallacious, for t h e y would encourage-themselves Ss "soon as. the
country was adapted to them;.. But are they now infant manufactures?
W e have called them/so for sixty years'; and, will they eyer cease to be
infant manufactures until weaned frpm legislative prptectibn?
.'
On the first of February next,, the.markets of Great Britain will" be
open to- our breadstuffs at no'mirial duties: shaU;^we enlarge the markets
for our products by selling them to Gr^at-. Britain in, the only way in
' which she can purchase them for a, series of yearsy by taking in exchange
such of her fabrics as she can sell to ,us/af cheaper rates than we can
make them ? To the • farmer of the planter this is just a ^qupstion whether
he shall have two markets or one j br .whether he shall sell mbre at-a higher
price, or less and at a \lower price.. I f i t be. our interest, to s h u t o u t
British fabrics, it would be theirs to renew their corn .laws and exclude
our breadstuffs from "their markets.,
' ;,
'.
It is said that'other nations 'will not" take our products in exchange for
their fabrics; but with reciprocal free trade they must take therii,bythe
universal rule that the purchasbr will buy the .che.apest articles without
inquiring whether they were made, at hotnb -or ^abroad./ -Tb force our
industry, by protective duties,, into less productive pursuits- by forbidding
these exchanges, is to increase .the amourit of .labbr and diminish its
products,^or, in other words, tp force our workmen to labot inore and
receive less.
,
. .
- • • . , . ; : . ,
. ,
The people of the Union, as consumerSj.pursuing. their true interests,
if left to their own choice, unfettered by.legislatiori; will'.purchase the
best and cheapest articles. But this is. restrained: by law, and the conr
sumers compelled, by high duties, to purchase only, or chiefly, dom.estic
articles; because this, it is. said, will encourage home industry. ,Bht the
foreign impbrt has been purchased by some domestic export. ^ .The
barter may not have been direct—various fac.tors'may have 'intervened;
bills of excliange may havebeen used, or coin may have a.djusted occasional balances; -but in a series of years, in the aggregate, international
tra:de is but an exchange of products.. Thus the foreign import .being
exchanged' for some Anierican export, our own home industry, .Which



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produced that export, has "been better encouraged than if forced bylaw
into some other pursuit, rendered profitable only by high duties.
The temporary high price of labor in a particuhu employment is often
imputed to the tariff. - .But if it be conceded that the protected articles
are thus enhanced, this additional price, paid by the consumers, is so
much capital taken from them by the tariff to the full extent of the
increased price, which btherwise would have constituted a fund for the
employment"of labor and the pa3^ment of wages.. If, then, anything is
"gained in the enhanced price by a particular branch of industry, ^it is at
the expense of all others, and must result in a diminution of wages,
depending as they do on the aggregate profit of all the capital and labor
of the country, and not upon that employed in any particular branch of
industry. Thus, while wages may be temporarity augmented in some
pursuits favored by law, they are diminished in all 'others, and the
wages of a great majorit37- of laborers would be reduced, and finally of
all.
^
.
From the diminished aggregate capital, there follows a diminution of
the aggregate wages paid in a nation. A vast majority of the labor ofthis country is employed in agriculture, commerce, navigation, and the
non-protected pursuits; and if these^ are depressed, their profits are
reduced, the wages of those employed in such pursuits fall, many are
thrown out of employment, and thus a. general fall of wages ensues, and
the protected manufacturer eventually obtains labor at a reduced rate.
The effect of a protective tariff,' in truth, is not to enhance wages, but to
depress them, and render capital invested in manufa.ctures more profitable by enhanced prices of the protected fabrics. Wages throughout the
whole country become lower than they were before, because the aggregate profits of the capital of the nation engaged in all its industry is
diminished. "Wages in one branch of industry cannot be high when thejare Ibw in all others; for wa.ges, like all other commodities, unfortuna.tety
will soon find the same level. The aggregate profits of all the labor of
the country, and not of any particular branch of industiy, constitute the
fund out of which wages are paid ; and if that, general fund is reduced
by^dirninished profits, wages throughout the whole country must eventually fall. If, then, the great mass of labor in this country,, and of capital, is invested in agriculture, commerce, navigation, and such branches
of industry as require no protection, and these pursuits are injure|i b3^
a protective tariff, either by diminishing the market forthe surplus raised'
by those thus employed, red.ucing the price of what they sell, or compeUing them to pay more for what they buy, there must be in time- a
general fall of wages throughout the country, even although a particular
branch of industry may have been rendered more profitable by a protective tariff. This duty, then, instead of protection, is a tax upon the
whole industry ofthe. country "invested in pursuits requiring no tariff.
Nor is it any mitigation, but an aggravation, of the evil, that some
other nations impose high dutiesion their own consumers of foreign products. The foreign duty may or may not prove injurious to°our industry. If the American article is still in some cases sold abroad to their
consumers at a price enhanced by their duty, the injury may have been
to that extent to them only, and not to us; but when, by way of relievVoL. VI.—19.




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[1848.

ing us from this injury, whether real or imaginary, we impose a tax
• upon our own people as consumers, by compelling them to pay high
prices for foreign products by high duties, we only augment the evil.
Reciprocal free trade is best fbr all; and reciprocal high duties worst.
When it is said, if .foreign nations tax our produce by high duties, we
must tax theirs in the same manner, we forget that their duty on foreign
imports falls mainly on their.own people who purchase such imports,
and so likewise our tax on foreign imports falls chiefly on bur own people
who purchase them. Let us buy such imports a s , we desire at low
prices, and the difference of price that is thus saved to our people is so
much gained-as an additional capital to encourage pur own industry, to
increase employment and the wages of labor. , But if the S3^stem of reciprocal taxation is wrong, what argument can
be offered in favor of high duties upon fabrics of foreign nations, when
they receive our exports at a nominal duty in exchange? Formerly, our
protectionists admitted that if .Great Biitain wpuld freely receive our
breadstuffs, we should take their fabrics at low duties,, or free of duty,
in exchange.. Then the corn laws were in full force.in Great Britain,
and it was supposed would so forever remain. But the system was.
repealed; and our chief'agricultural products are now invited free of
duty,, or at a nominal duty, on the 1st of February next, into all their
ports. Our protectionists now abandon their former position, and maintain that it injures our farmers to purchasb' British fabrics at low prices,
even thbugh England will take bur breadstuffs at a nominal, duty, in
exchange.
.
,
-•
> .
Wages can only be increased in any nation, in the aggregate, by aug-^
menting capital, the fund out of which wages are paid; and the capital
g£iined by saving in the diminished cost of production and priees to the
consumers, will invest itself in new pursuits, necessarily augmenting the
demand for labor, and, as a consequence, its aggregate products, profits,
and wages. On the other hand, the destruction or diminution of capital,
by' destroying or reducing the fund from which labor is paid, must
reduce wages. It is^ not, however, b.3^ the transfer" of the same amount
ofcapital by law from one pursuit, to .another, that the aggregate capital
and profits of national industry cari be increased, -but by the augmentation of capital, whether by saying or otherwise; and the radical defect
of the restrictive system is, that the tariff' never, augments capital, but
simp]y changes the pursuits, in which it is invested, and therefbre can
never augment wages. On the coritrary, it must, -in.the aggregate^
^depress wages, by preventing a saving of ciapital for the employment of
labor and the increase of its wages.^
.
:
. Our ai*guments for low duties, as has . heretofore been conceded by
our most distinguished protectionists, insured the repeal of the British
corn laws.., Arguments here in^favor of protection pres.ent to-all nations
the supposed benefits, of restriction, and would the.rpfpre persuade them
all to enact high tariffs. Our argument in favor of free trade appeals to
all nations to reduce their duties on our products; whereas our arguments- for protection are reasons- offered to- all. nations to raise the duties
on our exports... Our argnments would persuade them., all of the mutual
benefits of reciprocal free trade, and teach the doctrme of international



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unity,bf interest; whereas the other attempts to prove that their interests
are aritagonisticab' and will.be bpst consulted by each, inflicting thegreatest injury upon the others by high tariffs.- The one would be read
abroad in their legislative and executive councUs in favpr of a reduction
of :duties bn our products; the other would-be quoted in.favor ofincreasing such duties. ." .' '
'
.
- >' ^'
High tariffs shouH be'most useful where they are the most effective;^
Let us take the interior of New York, remote not orily from the ocean,
but from raUroads and canals^ ^ Now, if the duty \vere .twenty per' cent.on the irnport arriving, at .the .city of 'New^York,<br its vieiriage, that city
and it's rieighborhood, % the jSrotective-the'PrJ^, should be mbre injured
by the irriportation than the interior of theState,' the freight to which,-bh
many fdreign articles,-riiight.add 20 per cent. tO/the cost, making the
whole, enhancernent of price 40'per'cent, ^.a.nd'thus operating aisadoubfo,
' proteetionvJri the interior, compared with the. seaboarel. Now, if the
restrictive theory'be true, the resident, of the "interior, being better' pro^tected, the:tariff/and freight'on the foreign/article.operating as^a double
duty,;should be' more.prbsperous than the resident of the seaboard; but
the farmer's products are highest upon t h e seabpard, and lower at every
point as we retire froni it; -lower at Albany arid Buffalo.; still lower at
Erie, Clev'eiand, Detroit, Chicago-, L a Salle-;.^ \vhilst the -price of all the
farmer buys is proportionally enhanced.; arid nothing b u t t h e fact that,
his lands are cheaper iri. proportion as; they are refnote from the^ foreign
market, enables him tp sustain the competition;.
; The prptective ^ system is^ agrarian and ., a. war upon property. It
attempts to organize labor and eapitail by law, adding to, the profits of
one pursuit by reducing' that of another.. It is incompatible with t h e
security pf •capital or labor j for Ciapital is but the accumulatipn of the
gains'ofrlabor;,\and,'therefore, whatpver destroys the- security or profits
of capital results in an equal injury to labor. Besides its injurious effects
upon industry^ it is-an ^arbitrary and despotic powder; arid if the pebple
shbuld become accustomed to its- Exercise,' looking for legislative support
and protection, it would" terminate in a struggle-for the division and dis^
tributibn-.;by, Congress evety year of property, profits, and capital'arriong
the favored classes; No legislation of man'can change the law of capital
and wages—namely,' that as capital augnierits, being the source frbm
which wages are paid', there will be an increased denicind fot labor, and
a-consequent addition to its reward. Capital an'd wages-- are the weights
ih the oppbsite sid'^s of the /scale, vibrating'under unchanging laws,,wages- asceridirig as capitabl is augriiented, and d'escenGling as the capital
is reduced; Ift then; we \vould augnient wages,-.as-'every lover of niankirid must desire, we must increase eapital, which no tariff or organization of labor can effect, although it may transfer capital frbui one pursuit
to another, always diminishing the aggregate profits when-the transfer is
forced b y law* '
,. ,
.
- '
The belief is: erroneous, that. as riiannfacturers-increase, in. number,
.skill, capital, and products, they will perpetuate high tariffs. When
they attain^ this condition, and their fabrics exceed: the home demand,
they will dbsirb free .trade to open to them the foreigri markets. In England j-this-is now the case; and their manufaGturers-ate the great.advo


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REPORTS OF T H E .

[1848.

.bates of free trade, ais our manufacturers in time will be, and ultimately
unite with all other classes in desiring the abandonment of all tariffs and
custom-houses, and the repeal of aU restrictions onscommerce../
Congress having- extended the revenue laws, to-Or egon, and created
Astoria the port for that.district, the revenue-cutter,Cornelius WV L a w rence was ordered to that coast, urider the. command of,.Ca.ptain Alexander .V. Eraser, • an/officer of talents, ^z.ealy and fidelity.- The ..coast
survey was-also^-extended thefe, ^and, through its-aid buoys will be
located, and hght-houses constructed. as directed ,.b3^VCongress. .The'revenue laws not having been extended to Calilbrnia,.no\duties^could be
collected there; but the Department .exercised, all its 'authorit3r b3^
issuing the circularr lierbto: annex^ed,, (marked Y,)- opening free trade,
under the Constitution, between j t s ports/and those of the rest of the
Uriion, at the same tim.b guarding the revenue from loss as far as practicable. It is recommended that, besides'AstPria, collectipn .districts 6e
authorized at Sari Diego, Monte,re3^,, Puget's Sound, and San Francisco,,
upon the. Pacific.' Our riiaritinie. frontier upoiis- the P acific is now' nearly
equal to' our. Atlantic coast, with riiany excellent bays. and. harbors,,
admirably/situated to command the trade of Asia and of the whble
western co.ast. of America, whikt our coastwise, traele, betweeri the
Atlantic, the Gulf,-and Pacific must soon beeorne of great value; Congress having directed this Pepartment to recorrimend such measures
as will increa.se our commerce and reyenue, it is suggested that, if we
desire a lucrative trade and augmented revenues frpni bur Pacific coast,
this object can best be -accomplished by many additiorial .steamships
upon that ocean as'.well as upori the Atlaritic arid the (julf. >Beneficiar
as this system hcis proved upon- the Atlantic, and the Gulf, in augmenting bur comnierce 'and revenue,^our tPnnage ' and navigation, it is
still better adapted to the Pacific and.the long ^voyages along its shores
-and to.Asia.^ " • - / •
^ >
.
. .. -^ / . . .
This tranquil ocean, as indicated by its.name^ 'more subject to-calm3,
is better adapted to; steani thari the morre boisterous Atlantic, and with
less danger of injury t o the. machineiy. ' The-calms, of the "Pacific," sooften retarding the sailing vessel, make.shorter and safer^ the :yoyage ;of
the steamship, whilst .at J other periods, the trade \yirids. blpwing. fpr
liionths continuously in- one direbtion, .not affecting rthe -cpurse ofthe
stearner, but forcing sailing vessels so ;many thou.sarids of riiiles out,of
their way, render steam nebessary to the- profitable. navigg.tioii of that
ocean. :From all these causes, the Pacific riiust.- become the principal
theatre of the peaceful triumphs ofthe great .expansive power of- steam,and we must extend its use there, undpr. our own flagv if we would
desire to .ebntend successfully with other nations for the .trade and
specie pf Asia and western America. . Our hnports, from; Asia, 'such as
teas, silks, and chiefly costly articles, are still better adapted ".for the
steamships, than heavy products. The time required in crossing twice
t h e tropics and the equator, from our Atlantic ports to Asia, in the long
voyage of the sailing vessel, is felt severely, not only in the loss pf interest, and ill the less rapid circulation ofcapital and realization, of prpfits,
but in the still greater loss in arriving at home too late with the cargo,
and-thereby losing the market, or at least a better price ;^ and this loss



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of time and interest, of price^and markets^ is as.-great in-the return as in
the outward passage.- .The voyage by steam from our Atlantic ports to
Asia,-by the route.df Chagres \and JPanarna, with ^ raUroad to be constructed by private enterprise across the isthmus, would, soon be accomplished in a month, instead of three br four months, and the gain of tirne
in our coastAvise trade between both bceans would be still greater. , J n
ancient and in;modern times, the" cities and nations that secured the
. tradeof Asia were greatly eni;iehed. :This'has. occurred.'successively
with Tyre, Sidon, Carthage j Alexandria, "Venice^ Genoa, Lisbon, Am- ,
sterdam, and Londpn, whilst this rich;tr;affie buUt up'large cities even in
•thernidst of deserts in the'Caravan route of the track^ through which-it
passed.. : With our front upon both oceans"and the' Gulf,-aided by steamships,-by low duties j-and by shortening the voyage, b y the isthmus route,
as"presented in my annual reports of Deceniber, 1846,/and December,
1847, we-may secure this cornmerce, and with it,' in tirne, the "command
•ofthe trjade/of the world. We. may alsp extend bur. cornmerce with all
the countries bordering Upon^thp coast of western America, richer than
.all others in the^-precious rneteUs, and- abounding in ar.ticles which we
desire, but do'not produce, whilst new and vast inarkets willbe opened
there fbr our products and manufactures, and the number arid profits of
•our whaie^ ships greatly increased. ' Distant .now .as' are o.ur possessions
upoii thb Pctc.ific, if we'.would desire t c extend to them; .the benefits and
blessin^s-of the American Union, and unite-thern with us in the bonds of
• an ever-augmeriting cprnrnefce and-iritercourse, there is at pre^sent nothing but steamships that xan perform these irnportant duties, in:coririectioii
with a railrbad.across the Isthmtis^of Panariia. Such- a road 'would
always be-useful, for our. trade-from the Atlantic and,.the Gulf with the
western coast of'A-merica, and at least for heavy;products .with Asia,
and especially with that portion of it near to or' south -of the equator,
with theUslands in the-pridian ocean and with Australiaj eyen'if at some
distant period a railroad should unite the Atlantic, the Gulf, and the
Mississippi, with our.ha^rbors-upon the Pacific./ . T h a t such a road wiU
be made at some future jperiod^upon the .mbst practicable route is not
doubted, although, .frorh the time and capital required, its completion
un fortunately may be .remote; but therailroad vvhich private enterprise
^couid build within a year, of two acrpss the isthmus would.^answer all
Pur present;purposes, arid wpuld.at orice bring.New York within ten
days of .the Pacific, arid within thirt3^ days pf Chiria, .and New, Orleans
still nearer; .maintaining also the important .communication between our
own harbors.on the Atlantic, the Gulf, and the Pacific,. •
, ^ The estimates required by law-frbm this Department for the revenue
likely;to accrrrie.frpm ibreign comnierce with all bur ports, including
tho.se uppn the Pacific^ must depend upon future events.- If private
enterprise shbuld soon^cpiistruct the failrP.ad across the^ isthmus;' if an ^
adequate .number pf steamships, in continuatiori ofthe beneficial S3^stern .
already coniinericed, shpuld facilitate the trade between"Asia and our
Pacific ports, bringing them, within twenty days of China, with the best
steamer's in su:ffiGient number, starting at^ regular periods.frorii the Atlant i c and the Gulf of Chagres, and from^OreQ:on and Cahfornia, to Panama, to Asia, and t o the whole western coast of America, the commerce



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[1848.

ef alLour pbrts would be incalculably increased, and. the revenue •collected on the Pa..cific rise .in a feWv years.- tb .seyeral milhons .of dpllars
per annuini . ^ Nor is it .only with those nations' of Asia. with .wliom\we
• already have treaties that the stearnship. w;ould incre,a$e our cominerce,
"but itwould introduce it, together with ^diplomatic relations., iiito vast
regions o'f the. East, with whom .^y.e havp formed^ no. treaties;,;estimated
. to. contain one'; hundred and thirty-five, millions of people. Many .of
these are large and^populonS'enip.ires,- .abqunding in specie, .and in many
articles which:w..e need-,'but'dp not prpducey^and vd^^
al^p our products; and'riianufactiiresin exchange.;, ^AriT^png.thbse empires^with whom,
we have no treaties, and 'little or no trade, are Persia,;Cbrea.y Cochin
China, Burmah and Japan,-with whom nothing^liut the ;stearnship. can
su'GcessfuUy introdube ;our .xoinrnerce. vAnipng- these is Japan, highly
adyanced "in 'Giviliza-tiori,'/ containing fift3^millipns ..bf peoplp,. separated
but t\yewe^ks by stearn-frorii our",westem coast., 'Its-foreigri trade .i;^
now nearly confined to two Dutch ,;vess.els, althbugh; it is sepai*ated
from Holiand^by eighteen';-thbusand miles, and frorii our Pacific-coast
only by Tour.thousand five hundred iniles. . Its cpriimerce^cari .be secured
to us by perseveririg and peaceful efforts'. Our, steamships would pass,
on their way/to China, through the-;narrow. channel sbparating the two
greats islands .composing the - empire,, of' /Japan, unonthly or. weekly, in
sight of both their cPasts;; ancl-by thus familialrizing-theni with, our merearitile'marine, extending their knowledge," oyercbniing;their prejudice,
and operiingto thern n'ew views ^of their' owntru.e interests,;wpuld soon
•unseal their portstP.our comnierce. \ . - , ' ..
. - " ' . , . / "' ,
The abquisitipn of our inirriense cbast^upon. the Pacific,'an)l the introduction' there-of our stearhship,s,' especially, when .private enterprise. .
shalhuhite the oeeariscvby ari isthrnus .:route, would, as .remarked in my
amiual reportof Deceiri.ber,' 1846, " revotntionize iivourfiavor the cbmmerce
' ofi the world/ and:more rapidly advance. Qur gre,atness, wealth, and power, than
'- any event which has pccurred since the,ddoptimi'^ofi'the • Coiistitiition.'*^ . > / .
- The same great subject was .agmn jeferre,d tb in. rriy-^anriual report "(pf
December, 1^847, a.s' " a new commercial era," requiring '> ocean steamers, iip
addition to sailing 'z;6^55eZi,"'/as-''conriecting'US'; ^^ with China,/contdining nearly
one:-:third/ofi the population ofi^dhe ^glofie.- -. Our ports- upon-- the. Qiilf,. with
those upon both oceans, frontirig upbri-Europe from, the east arid'Asi'a
frorn the west, occupying the central position betweeri all thecontinents
of the globe, nearer to thern...all by-convenient routes than, any other
nation, including; an easy accessto the wobble interipr "of pur owri country, we warit only the. ocean .steam.shipS'of,adequate strength,,speedy and
nurnber s, tp giveustheconirnarid of the tradeof allnations.. Nor shpuld
we forget, that in ca;rrying,.'our; trade 'aniong 'the, great and populous,
nations bf A£a, aridTacihtkting'intercourse with-that vast region, pass:ing
fi'orii cpast tp'coast in the, short period, of ••twenty days, .with ^monthly pr
weekly steamships, the light of'Christianity,.folio wing the path pf-bomm.erce,.Would return with all;its blessing^^lo thb :Bast, frorn"'which, iirose."
In those j.egions'cpmmerce.-rnust be the-prpcursor pf Christianity—^commerce, • which teaches, peace, arid.,mtercoursb.between' nations.;.which
declares that man is not the, eriemy of man, npr .ngtion bf nation; but that
the interests pfajl countries and of all mankind are'idpiiticaiyand that



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295

they will all advance most rapidly urrder the genial influence of an
unfestricted reciprocal tiade and intercourse. By our recent acquisitions OH the Pacific, Asia, has suddenly become our neighbor, with a
placid, intervening ocean>, inviting QUI steamships upon the track of a
commerce greater than that of all Europe cprnbined. • This commerce is
ours, if our merchants and'Governnient should.by their united energies
secure for us with Asia a rapid and frequent comm.unication by steain.
Our products and our maiiufactures,, and especially .our coarse cotton
fabrics, are precisely what are. desired by several hundied miUions of
their people, who,will-send us back in return their specie and their rich
prpductibns, so few of which are raised within .our liinits. From bur
coast on the Pabific, as well as frpm the Gulf and the Atlantic, and the
isthmus route,-we would be much .nearer to the west coast of America,
as Well as Asia, than any IC uropean Power, and with the best steamships
in adequate number, with the grpater certainty of t h e voyage, .of the
period of arrival and departure, and economy of time, and saving of
interest, and "with diminished• cost of .cairiage, we Would ultimately
supply the Western cbast of America,' as weU as Asia, with our products and ma.riufactures- ori' better ternis than, any European nation.
W e Would in time receive the, prodrictions "of the East, in exchange,
not only for our own consumptipn, b u t to Jbe warehoused in our ports
as entrepots for the' supply ^pf Europe. And so fai as European fabrics
shbuld reach Asia and' the western cbast of America, they would
ultimately pass chiefly though our hands as' factors arid in our vessels—
events which would very soon give us the', command of the trade and
specie of the world. From these great events the whole country would
derive vast benefits, but especially the' city, of New York. It would
become the depot and iStore-house and entrepot, of the'commerce of the
world, the ceritre of business and'e-xGhar,ige's,.the clearing-house of inter^ natipnal trade and'business, the place where assorted cai"goes bf our own
products' and'manufactures,, as well'.as those of jail foreign countries,
wpuld* be-sold and reshipped, and the ppoint to which specieand buUion
would flow as the great creditor city pf the world for the adj,ustmerit of
balances, a's the factor of all natioris, and the point whence.this specie
would flow into theinterior of our country" through all the great channels
of internal trade and intercourse. - With these great bverits accomplished,
and'with abundant facilities for the warehousing of Iforeign and domestic
goods at New York,,-it must eventually surpass in y^ealth, in commerce
and populatidn, any European emporium; whilst, jas a riecessary consequence, air our other, cities, and every portion of the Union, and all our
great interests, would derive'corresponding advantages. Our merchants,
as- must.have been expected hi any new enterprise, encountered some
difficulties in putting their first lilies of steamships into full and successful operatipn; b u t these'bbstacles they are^ rapidly ovbrcorning. They
encountered sirnilar'difUculties in the' commencement of their first hne of
packet'Ships, which soon, however; outstripped those of all other- countries; and the same success, with a liberal governmental policy in the
outset of their'great eriterprise;' will, soon fbllow as regards their ocean
•steamships.'
•"' .
^ . '
.
In view of the rapidly-augmenting trade between'our ports on both

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IH
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Reserve Bank of St. Louis

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ocearis, I recomniend that an act be passed by Congress, under which
all products and fabiics may cross t h e .Isthmus of Panama^ nnder the
provisions of our most important recent treaty with New Granada: that
foreign goods may be taken frbm. our warehouses, and landed in our
pbrts on either bcean or the Gulf, in the same nianner that goods-mow
warehoused in any port ma3^ be taken into and rewarehoused in anothero
To'prevent frauds upon the revenue, it wUl be necessary.to provide for
the appointrnent of agents or eonsuls, to reside at Chagres andPanaiiia,
in the same .manner as now authorized by Cpngress in regard to' Chihuahua, Under the act of 3d'March, 1845. If this should.nbtbe doiiey
our cornmerce will be forced twelvb thousand miles out of its cburse
through the long voyage around .Cape Horn.. The«di:awback of the
duties on fbreign goods exported .to Chihuahua b,y the routes bf Missouri,
Arkansas, and Red river, should be extended to that by the Rio~ Grande,
as well as to such othei Tbutes through Texas as rnay be-found safe and
practicable. A port of entry should.be, est,a;blished at themonth of the
Rio Grande, as well as at such other points bn>that river as may be
necessary to guard our revenue laws froni inva.sion on that frontier, and
to secure t h e interior tra.de; with Mexico. The drawback of duty should
also be allowed on goods expprted to Monterey and'Saltillb, and perhaps^
bther iniportant interipr towns in Mexico, on the same conditions as are
now apphcable tO;Chihuahua. In,recomineriding the regulations before
referred.to for the transit of goods across the Isthmus ofPanama, I would
respectfully suggest the extension of the sarne privileges to the routes
by the Mexican Isthrrius of Tehuantepec, by La.ke Nicaragua, b3'' the Rio
Atratb and San Juan, to go into effect whenever the /same right of transitcan be obtairied from ocean to ocean. ;Sorne,. if not all, of these routes
may be traversed by railroads, and may become impbrtarit, as well as
that by Chagres' and, Panama, for our foreign-and coastwise cornrrierce
between the two preat oceansj as well, as for the interibr trade with
Mexico, New'. Granada, and- Central Anierica; a n d t h e transit b y t h e
Mexican isthmus would 'be highly advantageous to the whol,e country,
but 'especially to the valley ofthe. Mississippi and its great depot, the city
bf New Orleans, sp near the Pacific by that new and important route.
In connection also with our suppl3^ of the precious metals from the
interior of these couritries, aswell as, from Peru and Chili, and'the transportation'of pur own gold and other minerals from. California, thbse
routes may all beconie useful.
.
.. '
'.
' , ; ,'
The collector of Sa.n Diego, should "be authorized-to appoint a deputy
at some point in our territory, as near as may be to^ the junction'of the
rivers GUa and Colorado, at.the head of the Gulf bf.Califpr.nia,.witb a
view to our future trade on tl^at gulf, as authprized by the recent tieaty
with Mexico, in connection with Lower CaliforniEL. and" the adjoining
Mexican States .of Sonora a/nd-.Sihaloa, so rich in the precious-metals,
and containing the irnportant ports of" Guayamas'and Mazatlan,.
I renew the recommendation heretofore madeby me fpr reciprocal free
trade between the Canadas and'the United; .States in ,all axticles of the
growth, manufacture, or production of either: country. I recommend,
also, the passage o f a law tendering a similar r^eciprocity to Mexico. Is
is known that the Canadas, with the consent of'^G/reat Britain, (and it it



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, believed New Brunswick also/adjoining New E ngland,), would cheer-r
fully accept this reciprocity. The adyantages to the Canadas would be
great, as well as to our ports bn the Lakes, the St. Lawrence, and the
Atlantic, accompanied by increase^ tolls and business on bur intermediate, railroads and canals. With our neighboring republic of Mexicoimow revising her«tariffi so
-rich in precious metals, and dyerstuffs, and.other raw' riiaterials of manufactures,-with whom it is bur true interest to encourage the most
friendly, relations and reciprocal and. unrestricted . commerce,-, although
she may not at once enact a reciprocal; statute, yet it is clearly her interest to do so; and with such- an bffei' standing upon our statute-book, it
woulcl receive the atte^ntion of that republic, and. in time, be adopted;
and meanwhile it Wpuld present to...M.exicp the best evidence of oui anxious desire-to liiaintain. with her the ino.,st friendly relations, together with
free and xeciprbcal commerce and iritercourse. • •
...'.
The Mexican tariff-prepared by this Department, and enforced by the
President of;.,the United States, with a view- to military contributions in
Mexico, added several millions of dollars to our means during the recent
contest,, as well a;s aided the .credit .and loans. of the Governrnent.. It
was a new but most salutary example set .tp. beUigerents in all .future
wars, not;'to destroy their own comrnerce. and that bf neutral and
friendly Powers by, embargoes and blockades of the ports ofthe enemy,
but to diminish the ' evils ^ and. Ibsses of wars by.encouraging our own
comrnerce and, that-pf all the rest of the world with the^ enem37''s ports,
at more moderate-duties, a t t h e sf^ine time devolving upon our enemy,
instead of our own'people,, as large a portion a s . practicable ofthe
burdens and ex.pense ofthe contest, so. sas to. bring i t tp a speedy and
honorable conclusion.. This example, so. favorable td neutral nations,
mitigating .so much the losses of wars, substitutirig commerce instead of
ernba.rg.oes; and blockades, was. received with high satisfaction by all
the Poweis with w.hom.we were at peace, and it is believed, at the sarne
tirne, to have had np incpnsiderable influence in accelerating the peace
with Mexico-. . This ineasure Was.a step in-advance of the'.progress of
cornmerce a;nci civilization. . I t w a s ' an'exalmple worthy to be^setto all
nations .by the United StateSj^ and. was so warmly approved b.y all countries, that if, unfortunately-for mankind, wars^should he.rea:fter occur,
and especially a •general Europeari'' wai, the danger of ,-which many
apprehend tp be .imrninent, this Anierican .precedent would prbbably be
adppted by other Powers, leavirig aUpbrts of tli.e enemy open, to neutral
comrnerce, and. the^.consequent •gain to our country incalculable. We'
should not only haye gained the.fgreat principle for which we have so long
contended,, that free ships make free goods in' trading with the ports of
a:-neutral,wh.en.,in her own,possession, but we.should also terminate the
- sysitem pf actual, as well as paper blockades, and leave our commerce
uninterrupted in the ports of .all the .belligerents. . This consideration is •
rendered, more momentous/by the fact that, pur future position, it is
hoped, in all timeto comCj will be that of a neutral, and that, as the
result in part of our-wonderful military power displa5^ed in our recent
glorious achievements' .and • unparalleled victories, as well as from the
development'of .our extraordinar3^ mone3^ed resourbes-^more than one



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REPORTS OF.THE

[1848.

hundred millions of dollars having been. offered by our own capitalists
at a premium for a Government sixper cent, -stock, upon advertisements
for less than one-half of that sum—we shall be.per'mitted to enjoy hereafter the. blessings of uninterrupted peace ^ with all the wprld.
•
Among the irnportant results of-that reduced Mexican tariff^ as prepared by this Departnient, is the light thrown by its-bper.ations upon the
commerce ^and revenue 'of; Mexico, and the demonstration' that both
would be ahgmentedby its'proyisions. ^"So strong has been the effect
pioduced^ that a piopositibri to remove the prohibitions on. nearly aU our
exports to ^Mexico, existing - iinder the old system,'was carried in one
House at the' rbcent- session ^of the- Mexican Cbngr-ess; leaving, .it is
hoped, only the details to be perfected at some future' session—a measure that would open riew markets to our products and fabrics, prove
highly beneficial to Mexico, and.nnite the twb neighboring republics in
the niore intimate and friendly relations of aii:ever-increasing ^reciprocal
commerce and intercourse'. - \ •
-. - - i.. '
'•
' 1 renew the iecornmendations contained in all my annual reports "for
the establisjiment of-a,.bra..nc.h of the mint of the-Unitecl States-, at the
city of New York. That city, our great -comniercial metropolis, is
advancing tb its nltimate positiori, so irnporta.rit to'the whble country, as.
the emporium of universal Commerce,- the' centre.' of international
exchanges, and the stoie-house of the products of the world. -To attain
this, result, we must secure fbr our great emporium (in competition w"ith
foreign cities) the command'of her due propbrtion^of coin and bullion.
Now it is clear that where bullion cannot be coined, "and no ^ recoinage
can take plape, this cannot be acibinplished. America is the gre'at continent of the precious rnetals; they are now found in extraordinary quantities in our owri Uniony and to a vast extent in countries adjacent; yet
nearly all this coin^ and-bullion areMiyerted-to-other countries,-and.
especially to Great Britainj, being one pf the chief iristruments in aiding
that-country, in maintaining her; comm and of thebu*siness'.of the world.
B3^ steamships and/by exports, of her bWn products; and fabrics, she
accumulates coin and bullion iii London, and provides for their coinage
and recoinage in the least time^ arid without expense; aiid^ yet, in our
own commerGial^eriipoiiuni,-we have no niirit or'even a brainch mint for
the importa/nt process of coinage or recoinage.; ^ If we would cpinmand
the commerce of all ;natioiis, i t must'be^ through some one Americari
comrnercial.emporium, the great c'entiip of ourbwn trade>nd'busiriess.
The histor37' of tracie dernoristrates that some such- great pbint /is indispensable to enable anyaiation to ^'commancl;. universal commerce,--aiid
thf^t such concentration at some one city, iristead.bf injuring other cities
or parts^of the sanie country, is pf immense benefit,to all.' . There'cannot be two or more financial centres of the foreign conimerce of any one
nation, any_more than there can be two. or, mbre centres of; a ciible.
- The same principle of the centre of the' tracie of a nation applifes to the
trade of the world. There can^ be but one such centre fGrthe world,
a,nd, but one for each nation, whieh, in this cptiritry^ from natural caiises,
must be 'New York,'where-the bompetitiorr rriiist soon comnience with
foreigir cities for the, coritrol of internationar.comiiieree.' Now, as-the
comriiand bf the specie of the world is of immense benefit tP .our whole



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country, and can only be-secured: by rrigiking pne of our oWn cities the
centre of universal;co,mrnerGe, it is indispensable to s-uccess in this great
American.ehteipriae that-specie ancl ^
be invited from aU
the. world, to NeW .rYprk—;.not by a n y unjust advaritages, but. by giving to
it equal facilities with; our;/.other cities fe coinage and recoinage. • x
; -It is not for'New York ^me'rely,/or ibr .its ^
this- mint is ^
desired,.^but,;;foi,the bbjiefit bf'the^^^
store-house ofthe
goods :anil pibducts of the,Union must beep rne the store-house of its specie.^ -. Whare the Qpnimerce. •"ri:nd. gbods are, there the representatives of
their.yahi^ .rnust ^bevalspv^a^
facility which
a mint woifld/giye;fbr increasihg theke ^cirGulating/yalu'es, and- for brino-ing thein, into^im;inediate - and' ac^tiye use in ariy^ form^;which might be
desiredf; I t ,is'^ in /vain :tp ''say thatthe ^specie- ^oi; bullion, brought by. our
x^ommerc^ctp
few^Ybrk^
there is a
mint wii:h;'ferit littlp delayy i:i^J/OK pxperise.,,.; It,is -clpar'. "there: jnust be
some ri&, delay,^^ arid expense, oppra&ig-'aa.a tax on thb bh^hiess of our
' bbrnmercialiemppriurii,^:aptl^to;.that^extbi^
uriequafher contest
w;ith. European•''bities: .for-uniyersal i^pirinierce. hCbiriage;^ a^ /recoinage
shpifld; be immediate^ withont anymsk^eKperi!sey.pr^
it;might
]3e, saidr.as-regards/.rrierch'and.lse^ with'nearly t h e same truth as is urged
in relation'to spebi.e,;.that it^would be noninjury tb. the ^ppinrherce of the
Union if light'and^coptly'.a]^
b h t trifiing expense^
risk^/pr dbi^^'frbni: New 'Ybrk^; tb . some. d;istarit^ieity^ there be '-^tamped,
rharkpd, er.tabplleidj^arrd .then'returnedZ/to^New York fox-sale, and:distribution;iri the general >markets/oPilur \bwn country or of; thp>world. " It
s'pems tp/be%rgbtten .b^.1;libse -who .pipsent sueh argumbnts, ihat in a
great coni mercial/.capital, ^^W^
busiriess to. thp - amount bf ^millions -of
dbllars is^traiisacted'froriq^ten' tb • three^ o'clock, how .important timq is
wherb; the dplay of^a d%^r;n%,- bfteit bf an;^hour, -may be • most disastrpusj^arid change.it'hb balance-of profit^to lb3s.''. 'Mercharits^and-men of
business^^honld b e permitted fej excliarige; their bulhonc-.o^
coin
foi American in a few hours oi; merhents,\as cpnld be.done at;a mint, or
' receive atVqiice/miiit/certifieates pf _ deppsite, "Which ef ten might be to
thern.'of th^e' .greatest\impQrtarice, . T h e trade .iri/bullipn and .specie; in
itself oiiegreat/bFanch'.of corrimerce indispehsablbip^^
bu siriess, and/-especially'of inter natrpn a t •excharige:^. ah'eady'.exists, to a
great .-extent'^ in New/;-fe
limited /iri/..,di|fusing its benefits to ^
American; eoniriieice, and -^pxchanges by/the:; want-of/ a ,mint., Npw it is
subject teexpense,^^risfc arid dplay^vto put it- intb-%..form.for circulating
' yaiuesvthat delay being,itself;a.g;ieat Ipss b^^^^
fbreign
.coin, consisting: 'of :d%brriinatibhs':.unlm^
to the^reat. bbdj^ of our people, is /ahnost,;useless;;fo:^^
.^general/ circulatioh. • It .is the
rapidity of the circulatioji of cpin;that .gi-^tes/it-k
value, and accumulates capital by the speedy/reahzatiorfpf pi:Qfit§:; .-arid the • American
eagle,-pr half .eagle,, and/;other decim afcoiii arge j'/,migh^ iri a, few months,
perfbrm m;bre of t h e furictioris;of-riioriey ^ and .pass, iripre ra;pidly' through
, a-greater variety'pf/hands,..tha.ii fi^^^^
in sonie fbreign and unknown
^'-npin, whiGh';would riot :crrculatp-ainong the'p
.Herice. it is, that a
lint at-New York,/to-give lictivity to _bur. specie-circulating .capital,^by ^
'^'iivertiiig it atonce'rintp American coin, would be of vast importance te>'^




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[1848.

the whole Union.,, Credit, when^based on' real capital, is highly-beneficial to the cornmerce of the country. And specie is one of themain
pilla;rs upon which credit can repose with .assured confidenceV and we
must have that specie as the basis of such a credit at our cpmmercial
emporiurUj if we indeed, desire to make it the centre t)f intbrnational
, exchanges. With a view to augment the circulation'of our owri coin in
^our own country, this Department has arrested, ^s far a-s^prapticable, the payrnent of foreign coin out of the Treasury, requiring it to be recpined
into American coin; by which means.it has been enabled,'between thie
1st March, 184'5',- and the 30th' October, 1848,.,'to'coin at ^ur mints (per
table K) the surn of $38,717,709 22,'which,, from' the 1st of March,
1845, to. the U f W March, .1849;, must exceed ;$40;,000j000; being .a
larger sum than'was coined in thirty-eight > years' preceding,-fi^om, 1793
to 1830, inclusive. But, whilst the Department wiU .have coiried, from
the 1st.March, 1845,'to 1st March, 1849, more than $40',000,000,,th^^
amourit would have been augriiented tb the extent of-several niillions of
dollars every year, if there had'been a l;)ranch-of the mirit at the bity pf
New York. - This is proved b y t h e fact:! that m'ost of the foreign coin sent
from New York-arid other'points to Philadelphia'for-recoiiiage, has been
that portion which .was received for Goyernment dues,,, arid transferred,
mainly, not by the people or merehants,-but by the order pf this.Depkrt-rnent, frorn the several;Government depositoriesV/and-.but little 'coin,
cbmparativety,' has gone" from, New Yprk,- -transinitted vpluritarily by
individuals, for recoinage, to Philadelphia^. Iridividuals Will riot,'to any
great extent, subject themselves, to the/'risk,. expense, "and delay bf/this
process; -whereas the whole,pfthe coin arid;bullion,-ampu^^^
tb many
miUions of dollars, that cpmes to New vYbrk^by "the: operations--of/cornmerce, or by emigration, now a very lar:^e.;surh,.woulcirall be\cha^
into American coin, if.there wa;s a inint at that'pity.," -Habvirig no-branch
at the great centre of American cbmmerce, • burriiiri^,;"riotwi ths tanclin *
the. great ability and^ fidelity /vv^ith v/hich its- bu sin pss ,1% conducted a;t.,
Philadelphiaj is not, to,the extent,it should be,\thb;mint bf the-peop'le, /
and convenient for the cpiriagp'of their. :bullion/and/fb&^
especially the large aiiion-nt .brought by emigrants.; into-the Uriion,^ esti?mated at $8,000,000 per-annunij but is. used/bhiefly,-as far ;a
other cities, for that, of the Gove.rnrnent; :Whef;eas it-bught.toVbG the
mint ofthe Goyernment and;people, and-for the benefi^^
only fully become sp by t h e location pf/a brarich ,as recom rnendbd; .. .The
amount of foreign ccrin recoined at-Philad e-lphia from-ist IJ^^^
.
to 30Lh November, 1848^. bn transjfers >orc!erbcl^pr dejidsited^-b^^
'
of this Government, clireGtechby me,'was^per table-Q^^
.$11^463,181; being nearly equ;ar tO: theVwhol0' reriiaining'coiriage there
during the same periocl,/iiiclucling'plate-an^^^^
, - .'. /;^- .
. The branpli,mint would bp most importaht^as^.allxiIiary^tp^the ppbra^
tions ofthe, constitutional Treasury-^ for. the;'piesent/assista
at
New York woukl then become, the treasurer of tie, branch mint, and/perforin bbth functions, precisely as" is noW; done'at. Philadelp-h^ and^;NeW
Orleans,' savirig the - expense of ari increase v^f oflicers, .preventirig double
entries and paynientsVand sirnplifyi.ng;thevOpera:tipns of the :Go vernment,
and saving to the Government and. nierchant the risk and bpst of the ^



1848.]

SECRETARY OF T H E TREASURY.

301

double custody and transfer frorn the ^collector to t,he cissistant treas-'
urer.
J- fi •
• . ;
. . '
From the 1st Januar3^i847,.to 30th' Noveniber, 1848, the merchants
of New -York-.-paid t o the, collector (per tableX") for duties", the sum cf
$35,360,678 36 in specie;'being twb-thirds o.f the aggregate pa.yment in
specie fbr duties: in the-Union. . Yet,/whUst the .Goyernmerit exacted
from these rnerchants this irnniense sum' of specie for; duties, it refusesthem even a branch^of the mint .where buUion can be cbined orforeim
coin reepirie.d, ;the; rneie establishment of which would attract there so
much specie, a.iid render'thp pa'.yment of this large', ainount so much
more easy. .-The.ampunt of specie received'by the. assistant treasurer at
•New.York, froni ^Ist Jariua;ry,'/1847,-tOvthe 30th.Noveniber, 1848, was
$57,328,369, and .the cp.iii cli'sliursed-by "hini there
the sarne
period,.was $55,496,2691,making an ,•aggiegate o-f $11-2,824,638, (per
table-R.). ; ; / '' ;' / .•---';'.". *
""'V' " . '
' -^
With a.branch miiit'at NeW -Yprk,-the transactions of'business woulcl
bburidisturbed by the operatioris. of. the constitutional Trea:sury; It is
true, that even'with, such a. brarich; there the eollpctibn of duties, in
specie would o^eratevas a check,,mot.upori the issues, b,ut-upon the pverissuea, of thpii banks-—a gentle, and most use.ful check, restraining their
over-issues arid riiitigating'if riot preventing those revulsibna which are
sure'to erisu'e-when the "business''pfthe; baiil^s, and as a cbnsequence.that
of the couritry jis ;uiidulyexterided; - jCredit is'useful arid rnost abundant
only when i t i s based upon'capitah and.specie and a, legitimate business
and commerce/' 'But .when it is^stretched^-beyoiid those limits, it necessarily produces revulsipns, disastrous: not orily ,to. the. parties involved,
but to the coriimerce and vhusiness. of .the whole .country. ' It is this fatal
tendency "to o.veiviss.ues^ and the top great-and dangerous extension of
their business, which constitutp the^greatest objection to;our .banking system; andthose bariks v^hicji are based on a spund ca-pital, arid desire to
conduct their .busiiiess^'aclyantagepusly tb themselyes and tp the country,
ought to rejoice that s.uch/othprs -as' would transcend these iirriits are
checked and restr£iinedVby the demand-for .coin":cre;ated -by the speciereceiving and -specie-Girculating constitutional Treasury. During the
year 1847, when more than twenty-four'inillions of specie were brought
into the country, and to a ^.gr eat extent .paid/all for xluties and loans to
the'Gbyernrnent, had this coin gone.into tlie bank's,, as • under the
old State bank de.posi:te system tp^ a great, extent it •must, and been
^ made the basis ;of an inflated cmTency, far exceeding ^that of 1836, it
would have been foUQ.wed',r.upon the- sudden fall of-the price of our
bie.adstuffs.and staples,-'and, the turn of exchange a:nd fJow of specie out
of the country,':by a revulsion, mbre'- disastrous thari;that of 1837. The
fall wpuld have'.been'from a greater inflation t o a lower depiession, the
intensity of tlie disaster being, augmerited by-the loans -and expenses of
a foreign .war, by the drain of specie tp- sustaiii immense arniies in for- ,
eign countries,-by depreciatibn of'Goverrinient loans and the faUpf the
Gbvernment credit. , The public credit under that system being inseparably connected with that of the banks as its dppositoiies, the Government having rip specie and depending upon their paper, its credit must
haye falleii with that bf the banks, .as happened in. 1837 and during the



I

302

, '

REPORTS OP T H E

/

[1848.

war of 1812.; and loans of specie (which/were indispensable) coulci only
have been obtained, as they were during that war, at ruinous discounts
amouriting tp millions of dollars per annuni. •;" Insteachbf these sacrifices,
the public creclit was maintained thrbughout the war, and its s/tocks
sold for high preriiiums instead' pf tuinous". discourits; the total,preriiiuni
realized b3^ me for the Goverrirnerit.being $555;,'51l\39.
A systern which bas"opefatecl .so beneficially, both- in'^w&'-:cind in
peace, must, in -the rnain,';be'Wi^e ^irid^ salutary; b u t i t \^cOuld./be still
more so, if the amendinerltVlieretpfpre\recbmmeridecIby this Departrnent
were adopted, .cspecrially as regards the security for disburBerrierits (without which the-% stem-is;.riot /s.afe)'ancl the. e
of a braribh
mint at New York,'as-:a inost'inipprtant auxiliary.:'' 'With these ameiidnients, affecting-none of.-the principles'ofthe ;bill, and especiaUy its specie-receiving "^aricl •specie^Girpul^tirig clauses, it wpuld' sp -bomme.nd' itself
to the whple country, and. prove so beneficial to its industry, commerce,'
and business, as to become our settlecl •pplie,'3^vunclisturbeel. by complaint,
or opposition'-frorn any'quarter./; '
,. '-: " ;\ 'r- ;-'• ' '/ "^'^ ^ ' '
- Annexed;will bp' fbuiicV.tables (marked, U and- V) comrriunicating, - in
cornpliance with-the 22clseGtioir of the; act-bf the 28th'bf'Jaiiuary, 1847,
the'informaiion required by that act-fas regards the issue,; redemption,
purchase j, anci reissue of .Treasury notes. Staternerit W shows the payments' into the Treasury on. account, of/th'e Ipaniof i848.; ^ Statfemeiit X
shows'' the -amount of sppcie piaid into the Trea-suiy frorii all souices frprn
the 1st of, January,- 1847,' to the .-3131'of ;0.ctbbbrjlg48,''ambunting. to
$91,484,823 55, andthe disburserrierits in specib during- the; same peripd^
ainounting to ;$92,142,512' •39,-r-making .an"aggregate during that ".period,
of receipts ancl, disbursenients .in specie j-of $183:,$27;335^ 04." ' ^
, ' Under the act of-. the 31 st of March, last,- authorizing "a' loan. for ' a' sum
not exceeding sixteen riiiilions ofdollars, the Departrrierit.on the'i7th bf
April last,.and for sixty-days- thbreaiter, ^aclveitised -the -proposals,- 'as
per copy, liereurito annexed; (maikerl S'.); This\ advertise merit -was' published tor sixt3^ days, notbrily/iri'the s.eyeral n(S;wspa'pprsJrithis city, but
also 4n the papers' puHlishirig the daws-, a;s. authbrized-ih each of tlxe
States, .and, with a' view/to. 11101% extensiye .eirculation,: in each ;of the
daily papers of the principal cities^of ^the*Union;- ''The' proposals'^were'
also made known to our -niiriisteis- and .corisuls in the" priricipal cities, bf
Great B-ritain andtheCoritinerit, wherever it Was^believed, the' premium
might be •enhanced and bid's extended bythbir eflb'rts.'^^ The •npticb was
notinserted iri. the newspapers uritil the 17th' ^ Apiil'; because, b y t h e 3d
sectipn ofthe act, it Wds deGlared that-thevadyeitise.ment^ s^
lished '' not mprethan sixty rior Ibssthtin, twenty clays from the; time bf. tlie
first insertidn.of the said advertisement in oiie-or'twp riew^spapers in the
city of Washington."/' If^' then,.upon the clay, that thelaw passedy or th'p
day succeeding, tBe loan had beeri advertised, the time fbr opening the
^ proposals must have teiminated by the last of May or firstof J u n e ; The
Department,-however, uppnithp iriformation before it'',felt persuaded that .
the treaty of peace which, had been.appfpved by the ,Sena:te, would be
ratified" by Mexico,-but that,-, iri^ all probabilityV the inteligence of the
ratification could -not reach' here ^3^''thie .'last of May or the first of Jrine,
but thatit would be received., before the niiddlb of-June; and conse


1848.]

SECRETARY OF T H E TREASURY.

303

quently, that if the advertisement were immediate^ inserted ahd the
proposals opened by the last of May or the 1st of June, the Governmerit
in the absence of the news bf the ratification bf the treaty by Mexico
would riecessarily, sell the loan uppn much less- adyantageous term's, and
at a probable sacrifice of .several.hundred thou'sand dollars of premium
to the Government. Under these circumstrinees, the Departrnent assumed
the responsibility of. delaying the^ adyertisement untilthe •17th of AprU,
allowing the'lpngest period from th.at,clate,aLUthorizedb3-law for operiing
the proposals—namely, the .17 th, of June;- sonie days before which period
I was confident; that offieial intelligence of/the ratification/by Mexico of
the treaty would be received.here. .. The iesult justified thpse anticipations. The intelligence of the ratification bf the' treaty tyas not receivecl
here by the last of May/or first of June;^•noi,;in^fact, until a few days
before the 17th.0f June, when itwas iriimediately riiade known official^
by telegraph and otherwise;, and the Governnient ieCeived the full
• benefit,\in negotiating the. loan,/of the- uriiversal Imowdedge of the final
ratification, pfthe, treaty of pbace with Mexicp.. ' Upon th@ 17tli of June,
at the appointed.hour, the .seals.were;.brokpri and.the bids opened,by the
chief clerk of this Department, in. rri3^ presence arid that-.of the bidders
and the. publie,; the bids recorded, and the- lpan.awarded, of course to
the highest bidders.- -• . , : ' ' ,.'^ '
•
•• ' / •
• '.
, The total amount bid^ together with the; names of the successful and
unsuccessful bidders,, will be;;, found in the: ,statement!^ hereto annexed,
mai'ked M.;'

'^ • ^. '

••-.

. •/

-> . •

^- ;

.

.

The whole premium obtained on that stock, it will be-perGeived, was.
$487,168 ,-66,-which'was the more extraordiriary, inasmuch, as;-on reference to-the-prices-^current, it will b e found thatthe entire sale ofthe sixteen millipris- of stock in a single, clay exceeded the rate at which the
Government six per-cent. .twenty jrears' stock, exclusiye-;of intei;est and
brokera,ge, was then.sellirig'in'Small sums in the.market. ,
It, being made by laW\tliecl'uty/bf this Depa-rtrnerit to devote its attention to '',THE supPjORT ^pF PunLie CREniT," as <well a^siofi'the improvement
and management ofi therevenuefi itis proper to remark: that.this Government
has paid punctually at;all tirnes the pubhc debt, at its rnaturity, as well
a,s the .accruing interest,, never ^suspending fpr-a moment of time the discharge of either when due. Such has beeri'the attachmeiit ofthe American people to this the; Government bf their Ghoice—such their regard for
honor.andgbod faiths—that,, however-.severe the .trial..or sacrifice, the3r
-have liquidatecL as t h e y fell due: all the debts of the Union.
! A table certified, by. the'Register of theTreasury is hereto annexed,
(marked N,) shbwing ;our population-.frorii 1790 to.the present period,
every-year; our debt;; onr receipts -frorri loans and Treasury notes; our
reyenue each year,, exclusive of loans and' Tre'asury notes, as w^ell asfrorn these loans; and notes:;, arid the: principal and inteiest of debt paid
each 3^ear, as well as the total amount. ^ It is; an official record which
every American .may read with,pride and satisfaction. It shows that
whenever it was'necessary to.pay the debts and sustain the honor ofthe
countrj:-, the-people 'cheerfully submitted not.merely to duties on imports,
but to direct taxes and excises to the ainount of many miUions of doUars
every year; arid that even when our population was sparse and our



304

/

.

.

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

[1848.

moneyed resources^ extreinely limited,^the debts of the country were
always punctually discharged, aftei;the adoption ofthe Constitution, both
princip'al and.interest, at their nieitu.rity.
' - , .
In 1790 we assumed the debt of the Revolution, deterrnirie'd that the
honor of,the nation should b.e preserved stainless and unsullied.-' That
debt, then assurned, .was.$7;5,463,476 52-r--being equaltp^a debt at this
date of rnore than $377,000,000, ac.cording-to populatiori,^andtiearly six
times greater, aceordiiig to population, than our^- present debt,; At that
date the country,'exha;ustecl-by a seven years''war, and wetikeried by
internal difficultfes grbwing: out of the feeble character of the:;old Gonfederation,, had 'Scarcely; coniinericed-:her omyard^career to greatness,
wealth and power;- yet this/debt, was voluntarily assurned ^s/a riiatter pf
honor, and it Was paid, includingvprinGipiil and interest,,puriGtually, without failure or suspension..,'
'••'•'•• .
, •' • •' "' '
. Again: at the close of the war of 1812, our.-'d.iebtf in-1816, was
$127,334,933' 74^^aportiori.^bf it bearing an inter est of seven per cent.;
yet that debt,-<al30, w a s n o t only fully paid'.1^1836,. both principal ancl
interpst, but the -Governirient, after liquidating a:ll its engagements, had
a surplus leftin the Tteasury of $29,101,644 •'91';.which was deposited
with the Staites for safe, keeping, who;maybe called upon to return i t to
the Governmentof the Uiiiori should the emergehcy ever require its use,
which is mbst improbable.;' At that date the cbuntry:had been exhausted b3^ a prolonged arid severe-struggle with the greatest Power of the
world,'and .its Goinmerce almP'st annihilated by blockades and embargoes. -Itspbpulatiori, thpn,;was 8o678,.000;..and,'con'seq.ueiitly,raGGordiiig
to population^ the debt of tk^t date' would be equivalent to a-debt at the
present period bf upwards pf three hundred arid eight;miUions pf dollars,
-pr neaiiy^five times as great as oui present debt. Yet that debt, bf 1816
was not only, punctually paid-within twenty yeajs. thereaf ter, but a surplus, as we have-seen, bf mbre than twenty-eight millions of dollars
deposited with the States.;/ If,- therij'iii twenty years, under" such circumstances, andowith such.a population arid^'sucli rpsources, we could
pay a debt of t h a t magnitude' aricl have a surpliis of twenty-eight millions, withiri.how shprt a period ma3^ werliquidate- oiir present 'eiigageinents? . By reference to this table it'will be seen that frpm 1790 to the
present periocl, inc'luding. the reinibur.seiiients; of Treastiry -notes, we
V have paid a pubhc debt, includirig mterest, ainpunting tb-,a totalit3tpf
upwarcls of $500,000,000. By reference- to the • same table, it appears
that our reven.ue during the sanie period,^deriyed frbm resources other
than loans or Treasury notes, wasup;warcls of. eley em hundred and
thirty-six millions'of dbllars. It'will. be perceived thafbur present debt,
including-the whole of t h e loan yet. to be paid, in, and deducting:the
purchase directed by^this^ Department of about'.$500,000 o'f;the public"
debt within the last few weeks,..would, be about |65',278,450 41, (see
table Q;) but to which must be added^about $26,000 for Mexican and
bounty land scrip.. The principal of the public debt, paid since the 4th
March, 1845, is about $1,892,813 98. -Oui whole, debt,.inclucling t h e
loan yetto be paid in, is npt a sixtieth part pf theclebt of Great Britain,
and lessthan one-half the aiiriua:l interest of that debt. ,
According to a table ofthe Commissioner of the General Land Office ^



1848.]

SECRETARY.OF T H E TREASURY.

305

hereto annexed, (marked P,) it appears that pur whole public domain
unsold arnounts to 1,442,217,837 acres, which at the present "minimum
price of $1 25 per acre, would^ make an aggregate value of $1,802,772,296^. Regarding^them-, however, including our mineral lands, at twentyfive cents per acre, they would yield $360,554,459.- Large as is this
sum, our wealth as a nation would be more rapidly increased by the
sales of all our agricultural lands at low rates," not exceeding tweiit3"five cents per acre, in.small farins,>.to actual settlers and cultivators, and
thus, by enlarged products and exports, insuring.increased imports and
augmented revenue. ' As it is obvious, -eyen with liberal appropriations,
that our revenue from lands and customs'will enable us to pay the public-debt'before its maturity, I present the following suggestipns for the
'consideration of Congress-., 'The great mass of our public clebt, exclusive of Treasury nbtes, consists pf ;five per cents, redeemable in 1853,
of six per cents, redeemable in 1856, 18.62, 1867, and 1868, and the
military bounty larid scrip,^ bearing six per ceiit. interest, redeemable at
the pleasure of the Government. • .Of this sum, the Department, as
' at present authorizecl b3^ la.w, can purchase at its discretion, when the
means wiih permit,- the five per cents., and the :six per cent, redeemable
in 1856, 1862, and 1868. The inilitary. bounty land, scrip bears six
per cent, interest, and is redeemable at the pleasure .of the Government. ' No power, howeyer, is ^ given to the Secretary of the Treasur3^^
to purchase this debt, although-Congress may authorize. the Department to liquidate it at any time without paying any preniium or advance;
ancl I advise such authority to be given, to take effect at any time after
the 1st. July next. .
: '.
-- ,
As regards the debt of twenty-eight millions of dollars, arising from
Treasury notes and stock, authorized, by the act of .28th pf January,
1847, the Secretary of the Treasury ha§ no. authority to purchase the
Treasury nptes or stock, except at par. When this- act -was pending
before,the two Houses of Congress, this Department recomrnended that
this clebt should be placed upon the same footing as those which pre- °
ceded, by delegating the authority to the Treasury to purchase any portion of it,riiiclu ding the Tieasury notes, at the market rate, above or
below pari Among other reasons which influenced the "Depaitment in ,
this recommendation was, the fact t h a t such a provision would rnake
' the debt more valuable to the purchaser when it should be sold by the
Treasury,; and therefore increase the premium, which could be obtained
by enlarging, the number of bidders for it hereafter, namely: the largest,
probably','of all purchasers, the Government itself: and the absence of .
this provisipn diminished the premiums the Department was enabled to
obtain upon .this loan. It is obvious that if we havethe means tb purchase
the public debt before its maturity, it should be done rather than pay the
interest; and it is clear also that as the amount which, can be purchased
by the Governinent is increased, especially to the great extent of twentyeight millions of dollars, the Treasury can make the purchase npon better
terms by enlarging the number of competitors who could sell to it our
own stock.- • Under, these circumstances, I recommend that the Treasury Department be authorized to purchase at the inarket rate, at any
time when its means will allow, after the 1st of July next, any portion
V O L . VI.—20.



306

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R E P O R T S OF T H E

'

[1848.

ofthe debt of twenty-eight millions authorized by the act of the 28th of
January, 1847, including Treasury note's if any should remain unfunded. This is the more necessary, as the sales of the public lands have
been set apart by this Department, as directed by that act, for the payment ofthe interest ancl-purchase ofthe principal.of this stock, which is
impossible at present, the right to pur chase being limited topar;- Unless,
then, authority should be giveri to purchase this stopk at^the rnarket rate,
a considerable sum must remain in the Treasury pn the 1st of July next
ofthe sales, which-can be used for-no purpose whatever... As soon as.
it was ascertained, on theestimates pft-he several-Departments, that theGovernment had the means topurchctse a portion of its debt,-and arrest
the interest, the Departrnerit cbrisidered it to be its duty to make the
purchase. Upon Iboking into these estimates arid comparing them with .
our means, it was found that there would be; a balance of $2,853,694 84
in the Tieasury ori the Istof July,' 18i9, ancl a balance of $5,040,542 11
on the 1st of July, 1850. '.
'
' '' ^ ' . •- , ^ . .
There was also at that date ^ by the latest returns, (a copy ofwhich
is hereto anriexed, marked T;) $3,403,894 48 in specie in .the several
depositories to t h e credit o f t h e Treasurer of the'United States, after""
deducting all drafts unpaid and outstanding,; and. since the purchase bf
this stock there remained, by latest returns',-marked as above,'$3,661,746
89 in specie, subject to the draft of the Tieasurer, after deducting all
drafts unpaid and outstanding. /"Under these. circumstances it. was
resolved to make the purchase to the amount of $500,000, thus using a
part of the premium, obtained on the loans by this Department'in liquidating, to that extent the clebt incurred; and by the rise ofthe stock since
this purchase, had it been delayed until the present period, the Government would have been com'pelled to pay a much higher price. It was
essential to, success (unless by largely.advancing the premiuni) that the
purchase should be made by a"confidential agent; aricl directions for,the
purchase were accordingly given to ..Mr. C . W . Lawrence, the collector
""at New York, in'v^hbm the whole eomrnunity in which he resides justly
repose unbounded confidence, and Vho had executed every trust with
fidelity. A full statement of all the details of this purchase, which was
macle atthe lowest market rates, is being'^prepared, and will be placed
promptly before the Committee of Ways- arid Mearis of the Hpuse, and
of Finance of the Senate.'
. . .'^
- .
That the debt) should be liquidated -as rapidly as the means in the
Treasury will permit, so as to arrest ithe runnirig of interest, will not,.it
• is'presumed, be doubted. But the Gbvernment should .haye its option
to purchaise any of its s,tpcks,'so as to-lessen the preniium which it would
be compelled to pay, ancl the purchase should be very gradualand progressive; for if it were forced too • rapidly the premium would become
exorbitant. In view of t h e uncertainty which attends aU calculations of
accruing revenue, it will probably not be regarded as judicious to make
any further purchase until a period succeeding the 1st July next, when
estimates both as to receipts and expenditures wiU be tested by results,,
and when it will be known with certainty what means will be at the
disposal of the Department to reduce the public indebtedness. As an.
evidence of the progress of the country in wealth and credit, it may be



1848.]

SECRETARY OF T H E TREASURY.

307

useful to contrast the sales of the Government stock and Treasury notes
during and immediately succeeding .the war of 1812, with similar sales
during and immediately succeeding the war with Mexico. By the report
of the Committee of Ways- and Means of the House of .Representatives
of Congress of the 13th of April, 1830, it appears that for the loans of
the war of 1812 for $80,000,000 in stock arid Treasury notes, the Government obtairied but $34,000,000,'after .deducting discounts and depreciation, being a loss pf $46,000,000 upori its transactions; whereas pn
the loans of the last war with Mexico, this Department obtained for
$49,000,000 borrowed on stbck and Treasury nptes, $-49,555,511 39,
including a premium of $555,511 39 upon these transactions, having
obtained $15,555,5ll 39 more for forty-nine mUlions of stock and Treasury notes sold by this Department for loans growing out ofthe war with
Mexico, than.was received for eighty millions of stocky and Treasury
^notes sold during and itrimediately ^succeeding, the war with Great Britain; specie being required by me under the cbnstitutipnal Treasury, and
paid in fof the stock arid Treasury notes sold."^ These statements are
not made with a view to depreciate my distinguishecl predecessors in
this Department by whom these loans weire. negotiated.- The great
' services rendered by them are well knbwn, and appreciated by the
country, and by no bne more fully than by the present incumbent of this
^Department, who has had\an opportunity of observing all the difficulties
by which,they were surrounded, and how impossible it was for any Secretary, under those circumstances, to have made the negotiation on better
terms than was effected by them; but the facts are stated as a most
gratifying proof of the wonderful advance of the wealth of the country
arid of the Government credit.^ '
- -,
' '
, .
The coast survey, uncier the charge bf the superintendent. Professor
A. D. Bache, is'making great andrapid progress. During the past year
six sections of the coast on the Atlantic and Gulf of Mexico have been
under survey, and the pomputations, drawings, and engravings of charts,,
have kept pace with- the fie'ld-^work. Within the same period six new
shoals have been discbvered and made known on the pastern coast, and
one in Chesapeake Bay. Important^suggestions in regard to the places
for light-houses arid' buoys have been derived from the coast survey
reports.
,
; '
While this work is conducted on the [highest,scientific principles, it is
shown, in a letter from the,superintendent, that the land work costs less
than the maximum paid for the survey (conducted with so much economy) of the public larids. ^
^ ,
J n reviewing the progress of this work for the past four years, the
res„ult is.most striking. A part of the operations has been carried from
the southwest part of Rhode Island into Maine, and the whole land workhas beeri completed from Point. Judith to ,Cape Cod, covering a very
indented coast; the-hydrography has passed Nantucket,, and both the
I land and water work of Boston harbor has been completed. Much
work of verification and filling up has beeri done betweeri Point Judith
; and Cape May. Delaware Bay has beeri finished, and- the chart of the
I bay and river, published. The Chesapeake has been triangulated south
[ of the Virginia: lincr and both this and the outer coast will be triangulated



308

/

• R E P O R T S OF T H E

-•

[1848.

in from two to three years from the present time. The topography of
this section, which was cpmmenced in 1844, is advancing tb completion^
and, except the off-shore work, one-third of the hydrography is-finished.
The shores of Albemarle Sound and most of its tributaries, have been
surveyed,-the triangulation extending, also over Croatan and Roanoke
' Sounds ; and the hydrography is greatly advanced. A (general reconnoissance has been rnade of part of thb coastof South'Carolina, Georgia,
Florida, Alabania, Mississippi, and .Texas, and the operations founded
upon this have been ^commenced in''South Carolina-and Texas... In
Alabaina, Mississippi, and Louisiana^ t h e triangulations have advanced
nearly from Mobile to Lake Borgne; the topography "of the shores of
Mississippi Sound, arid" bf the adjacent islands, has been nearly completed; andthe,hydrbgraph3^ of the entrance to Mdbile Ba^ryand part of
Mississippi Sound arid of Cat and Ship Island harbors, and their'
approaches, has been finished. The suryey of Galvestpn upper; and ^
lower bay has made consiclerable progress. Four-base lines have been
measured in "JVIassachusetts, ]\lar34aiid. North Carolina, and'Alabama,
and two others have been laid but for measurement. Two of the base
lines were ineasured with;.a most useful apparatus, .combiningliew features-—the invention bf the superintendent. Forty astronomical stations
havebeen occupied in Maine,'-New Ha'mpshire, Massachusetts, Rhode
Island, Connecticut, New York, Pennsylvania, Delaware, Maryland,
North Carohna, South Carolina, Alabama, Mississippi, arid Texas, a
part ofVwhich observations were made with new and improved instruments. Magnetic obseryatidns have been made,,, with the instruirients
recently introduced upon the survey, at eighty-three-stations. While
improved geodetic instruments have beeUointroduced upon the work, the
principles of the modern-inathernatics have been extended to every part
^of its results. The electrorinagnetic telegi^aph has been,used'for determiriing the difference "of .longitude of cardinal points in the work,-and
with a degree of precision not hitherto attainable by other methods. The
Gulf Stream has beeri explored as''far •souA as a section across it at Cape
Hatteras, and the law of the Ocean tempbra.ture asceitained.'
Twenty-four sheets of charts remail^able foi their arrangement, accuracy, ancl style of execution, have been published and distributed to
literary and scientific institutions at home ancl abroacl, and placed with
agents for sale, at prices^ merely covering the post of printing^and-paper.
Ten more she'ets are in yarious stages of progress of engraving. While
the scale of operations has been enlarged to embrace the whole extensive
coast of the United States, and to afford the benefitsof it tp every part,
ofthe coast as rapidly as possible, the economy of'the work has steadily
advanced, the augmented expenditures requiied falling much below the
increase of work done. While so much that is eminently useful to commerce and navigation, and to bur foreign and coastwise tracie, has been
accomplished by this great work, it has received the commendation of
riien^of science in Eurbpe and Americia, and advanced the scientific
character of the country.
>
On the Pacific, where this Department has already carried" the work,
and where it will be so useful in obtaining inforniation and pubhshing '
chaits of our western coast, I have entrusted to it the location of the buoys,



1848.]

SECRETARY OF T H E TREASURY.

309

and the selection of sites for light-houses in Oregon. The Department
has proceeded to carry into execution the several acts^of Congress passed
at its last session, niaking, appropriations ' for light-houses, light-boats,
buoys, beacons, &c. It has also carried the laws into effect providing
surf-boats, rockets,.carronades,life-bbats; andother necessary apparatus
for the :better preservation of life and property from shipwreck, calling
to its aid the underwriters and Chamber of Commerce of New York, and
the Humane Society for PreservingLife,'of Massachusetts;
Important improvements may beintroduced into our hght-house system.
To conduct it properly, requires'an-accurate knowjledge of our coast and
navigation; the proper sites;^ the-character of the building and mode of
construction;, the proper apparatus and mode of lighting; the different
elevation, color, and other distinguishing, properties' of the lights, ancl
whether stationary or revolving; the necessary preparations to guard
against accidents, on t h e extinguishirig of a light; adequate regulations
to secure the .accountability and attention of keepers, and'all the administrative duties pertaining to the system. There is in volved in all this a
varied amount of knowledge, practical and scientific, possessed by no
•one individual; and tp aid the Depaitment in the.execution of these
laws, it has heretofore, suggested to Congress,. and again respectfully
renews its recommendation for the organization "of a board,' creating no
expense, uncier the supervision ofthe Secretary of the Treasury, consisting of the Fifth Auditor, the Superintendent .of the Coast Suryey, two ,
officers of the Navy,- an officer of the Engineers, as.also of the Topographical corps,'who would unite the requisite knowledge, ancl enable the
Department to conduct aU the operations of the system upon our pxtensive
lake and maritime frbntier with increased efficiency and economy.
The Department has also proceeded to carry into 'execution, as far as
practicable, the various laws for the erectiori of marine hospitals on the
rivers and lakes, of the West, availing itself of the yaluable services of
the Topographical bureau;
_
'
.^
Copies, of standard weights and measures have been distributed to the
States, with the exception of the four'-most recently admitted into the
Union^ '
.
.
' •
The standards for these .Sta.tes,' and for the custom-houses of older
States not yet .supplied, a r e in the course^of-preparation. The attention
ofthe States is-called,, iri the report ofthe superintendent of weights and
measures, receivecl "^ in June-last,, to the mepessary steps for preparing
county standards, -so as to secure uniforniity in the weights and measures
in common use'. Fifteen balances fbr regulating standards have been
supplied to five States, and set up by an agent from the office of weights
and measrires.' 'Two.more sets, six in nuinber, have been supplied to
two. other States. Twenty-nine were on hand bri the 1st o f J a n u a r y
last, ready,for distributibri. The establishment .produces at the rate of
six balances pf l h e first class and three ofthe second, or nine of the
second or four of the third,.per annum.
T h e present distribution of weights-and measures is, in my opinion,
provisional, and has been so eonsidered by ^statesmen and men of science.^
A more general uniformity," extending to/different nations, was looked
forward to by Jefferson and John Quincy Adams as one day attainable, •



310

R E P O R T S OF T H E

; [1848.

and was recommended in my last annual report. The time, in m y
.opinion, hascomefor the serious consideratipn of this subject by Congress.
Nevy standards are about to be made in England. \ The reorganization •
of the Germanic Confederation will give a great extension to whatever
systein of weights and measures they may adopt, and the political
changes going on in other parts of-Europe are favbrablplb the introduction of uniformity. The success of our coins shows that it is practicable
to break up the old system, and to, introduce another, new and entire.
-One standard of length, one standard of weights,, one standard of capacity, with suitable multiples and subdivisions, would be promotive of
convenience and of economy of time in the business -of life and the
intercourse of-nations. T h e adoption ofthe decimal system would also,
in my opinion, simplify and facilitate computation; and I recommend
that authority be given to this Departmeht to take the necessary steps for
obtaining international views and action as to uniformity of coins and of
weights and measures.
. '
^ .
During the p.ast year, the.third of a series of elaborate reports of inves^tigations on sugars and hydrometers, under the direction of Professor
A. D. Bache, superintendent bf weights and measures, by Professor R.
S. McCuUoh, melter and refiner of themint at Philadelphia, has been
presente'd to the Department and transmitted to Congress,;by whom it
has beenorderedtobeprinted with a collection ofthe preceding reports.
This report completes the^subject of hydrbineters as far as is necessary
to make the changes required inthe use of the instrurnentat the custom^
houses; and standard instruments and a manual are nearly prepared' for
use. These extra,-official duties were discharged by these gentlemen
without compensation.
^ My last report recommended the grant of one section of land for
schools in eyery quarter township in Oregon. This grant, in each of the
new States, of one section ofthe pubhc lands in each lownship, was
designed to securethe benefit of education tb allthe children of that town^ ,
ship. This object has failed to a great extent; because one sectioii in the
centre of a township six rniles square is top sdistant frpm' mariy other
sections to furnish a schpol to which all can resort, and because, as "a
j)ecuniary provision, it is inadequate. The grant, however,, pf one ^ection
for every quarter township'WOiilcl be sufficient, whilst the central location
would i e adjacent, to every other section, in such quarter, township,,
bringing the schoolhouse within the .immediate vicinage of every child
within its limits. Congress,.to some extent, adopted this recommendation,,
by granting two school sections in each township, instead of one, for
education in Oregon; but it Is/ respectfully suggested, that even thus
extended, the grant i's still inadequate in amount, whilst the location is
inconvenient, and too' remote for a school, whicli all can. attend. - This
subject is again presented to the attention of Congress, with the recommendation that it shall be extended to California and New Mexico, and
also to all the other new States and.territories containing thepublic domain.
Even as a question of reyenue,- such grants would more than refund their
value to the Government, as each quarter township is composed of nine
' sections, of which the central sectioii would be granted for schools, and,
eachof the remaining eight sections would be adjacent to that granted.



1848.]

SECRETARY OF T H E TREASURY.

311

These eight sections thus located, and each adjoining a school section,
would be of greater value than when separated,- by many miles, from
such opportunties; and the thirty-two sections of one entire township
with these benefits would bring a larger price to the Government than
thirty-five sections out of thirty-six where o n e section.©niy so remote from
the rest was~'granted for such a purpose. The public domain would thus
be settled at an earlier period^ and, yielding larger products, thus soon
augment our exports ;and our imports, with a correspondent increase of
revenue .from duties. • The greater diffusion of education would increase
the power^of mrnd and knowledge applied to our industrial pursuits, and
augment in this way also the products and Wealth ofthe nation. Each
•State is deeply interested in. the^ welfare, of every other; for the representatives of the whole regulate by their votes the measures ofthe Union,
which must be morehappy and.prosperous in proportioii as its councils
are guided by more enlightened views, resulting from the more universal
diffusion of light and knowledge and education. ,
The attention of Congress is respectfully inyited to the condition ofthe
public lands in Cahfornia. - The official reports of the' great mineral
wealth of that region present; important questions fbryour consideration.
That gold and quicksilver exist to a great, exte.nt in California, would
seem to be placed beyond - controversy. ^ This'gold ^vo.uld appear to
require the establishment of -a branch of the mint of the United States
•at San Francisco. . The quicksilver "is npt only important as connected
with the mining of the precious inetals, with health and the arts, but
still more with the 'adyance of science and the progress of discovery in
physics. The mines ofgold, and'pefhaps of other minerals, would seem
.to be located chiefly bn the public lands.., They belong to the Government as a trustee for the peop.le, whose interestSvShbuld be protected and
secured by Cbngress. ; A scientific commission, to-make a geological
examinatipn, "accompanied^with linear suryeys, is'deemed, important.
The voluminous character of this report, •^growing out ofthe varied
and important duties, constantly augmenting, assigned by law to this
Department, renders it necessary, that I should reserve for a few days,
and for a special report tb Congress, the warehousing S3^stein. In advance
-of that-^repprt, I would reniark at this time, thajt new instructions are
prepared by this Department, and the .forms nearly completed, among
other regulations,, extending, a. rriore ;free competition for the storage of
foreign imports. The progress pf .the systeni has been "most satisfactoiy
and successful; the value of foreighgoods warehoused in our ports since
the passage of the law, in-August,-1846, up to the 30th September last,
having amounted to the very large sum oP about'forty-four millions of
dollars. ' .- /•
• "' .
, ^ •
In soon retiring from this'Department, and from public life, in whichj
I have served so .long with inferior abilities to many others, but with
equal solicitude to'proniote. the best interest of, my beloved countryj I
submit, with the utmost deference to the superior wisdom of Congress,
my views tod experience as regards the organization of the Treasury
Department^. Its varied and important duties, with the rapid increase
of our area, business, and population, can scarcely be all promptly and
properly performed by any ;one Secretary. Yet in detaching aiiy of its



312

R E P O R T S OF THE.

,

[1848.

duties fr'oni this Department, the greatest care 'must-be taken notto
impair the unity, simplicity, and efficiency bf the system. , To take from
this Department its supervision over the commerce and finances, or over
any of the accounting officers.of the Treasury, the.-twp Comptrollers,'
the six Auditors, the Treasurer, the Solicitor, or Register, the Assistant
Treasurers, or collectbrs, the revenue marine, the coast survey, the mint,
the weights and measures, the marine hospitals, or the light-house system,
would create confusion and be most prejudicial to.thepublic seivice. ^
But there are important public duties, .having no necessary connectioriwith commerce or finance, that could be most advantageously separated
from the Treasury, and devolved upon, a hew departmentof the Goyernment. Among these are the. Land: Office, land titles .and surveys connected therewith, linear lind geological.. The business ofthe Land Office
occupies a very large portion.of thetime'of thp Secretary of the Treasury
every day, and his duties connected therewith must be greatly increased
by the accession of our imineiise domain in Oregon, New Mexico, and
California, especially in connection with their valuable mineral lands,
their private land claims, arid conflicting titles. Fiom all decisions
of the Commissioner -of the General Land- Office, as to Government
titles or private land claiins j pieemptipns, private entries^ or purchases
ofthe public domain, an appeal lies to the Secretary'of the Treasury.
This is but one branch pf these duties; and .yet, as some evidence of
the amount'.of labor thus devolved, upon him from this sourcCj I have pronounced judgment in upwards of five thousancl cases, involving land titles,
since the tenth of March, 1845. These are generally .judicial questions
and not fina.iicial,.iequiiiiigoflemgreat labor and, research, and having
no necessaiy bonnection-with the duties of the' Treasuiy Department.
TheMaily correspondence of this I-)epartmeiit withlhe Commissioner, of
the General Land Office, sui'ye37'prs general, the.registers and receivers,
and other persons, connected with the system, is most voluminous..The supervisory ppwer now exercised by-the Secretary ofthe Trea- sury over, the 'expenses of the courts of the :.United 'States, and other
duties connected theiewith, through.the^ marshals and clerks of these
courts, gives rise to a very considerable daily correspondence with these
officers, ancl havirig no riecessar.3^ connection-with the finances, .should
also be detached frbm -the .Treasury Department, as well as from the
State Dep^,rtment the duties of these-marshals, in connection withthe .
cerisus of the-United States. ^'^ - • •. ^•
' [
• '.
Having transferred the laborious duties enumerated from the. Secretary ofthe treasury,. Congress shoulclyauthorize hirn to appoint.an assista.nt secretary j who shoulcLbe a man of great talents and experience, with
a salary not less than $3,000 a year, who should' e^camine all letters,^
contracts, and warrants prepared for the sigriature of the Secretary, and
perform such'pther duties, iiot /requiring the signature pf the Secretary,
as niight conveniently be devolved upon him by the Departmeht. T o
maintaiii the unity and efficiency of the^ system, he should be appointed
by the Secretary, 'and subject .fo liis direction. He would want one able
and efficient clerk, with a.salary notless than $1,700 per annuni.. ^
The office of Comptroller of the Treasur3^ should be divided, 'and that
great and augmenting portiori of his duties relating to the receipts from



1848.]

SECRETARY OF T H E TREASURY.

313

customs, and the accounts of collectors and other bfficers of the customs
connected therewith,- should be devolved upon the head bf a^ riew bureau,
to be called the Commissioner of-Customs," whose duties would be various and iniportant.
' '
••
The First Comptroller should retain all the other duties now performed by him, and. especially his decision upon claims and accounts,
which would occupy the whole time ofthe head ofthe bureau.
Combined, as now are, underthe First ComptroUer, the duties appertaining both to receipts and experiditures ofthe public rnoney, accounts,
ancl claims, the p-ffice is overburdenecl with''-business which cannot
promptly and prbperly b.e performed by ari3^ one individual, however
able and laborious.
.- ',
^ •
. .The duties now performed by the Commissioner of Indian Affairs are
nrost numerous and im|)oi:tant, a.nd must be vastly "increased with the
great,nurnber of tribes scattered over 'Texas, Oregon, .New Mexico, ancl
California,.and with the interesting progress of so many ofthe tribes in
Christianity., knowledge, and civilization. These duties do not s^necessarily appertain .tp war, but to peace, and to our domestic relations with
those tribes placed by the Constitution urider the charge of this Government. This most important bureau, then, should be detached from the
War Departinent, with which it hag no necessar37" connection. ,
The duties ofthe Patent Office, great and important as they now a,re,
must necessarily-increase with the progress of light and knowledge, t h e
developments of the.wonderfurinventive genius of our countrymen, and
the researches' of so many enlightened minds' in this country intb
' niachinery, the physicalsciences, and the arca.na of nature. This bureau
has no necessary or proper connection with the State Department, and
ought to be separated from it. v^
i
' . .
.'
The Pension O.ffice ' should. alsp be detached from the War-Departinent, inasmuch as no military orders'are given to pensioners, as such,
by the Secretary pf War, nor by the Nav3^ Department, much less to the
widows ancl heirs who receive these bpunties frbm the Governinent.
. There is another reason . why/the Pension Office, as well as the
Inclian bureau, should be detached from 'the W a r • Depa.rtment, and
placed under the supervisiori ofthe same Sebretary tb whoni the Land
Office would-be entrusted, namely: Uncier our system of revolutionary
and military 'bounties and land Warrants, as well as under treaties ancl
reservation s-with Indiaii tribes, !many questions arise in relation to our
public lands -and private land claims, connecting themselves frequently
ancl intimately with our general land system,^ ancl with decisions upon
land titles macle by the Commissioner of the-General Land Office ; ancl
therefore all those bureaus whose duties are so intimately connected
with the public lands, as well as with private land claims, ought to be
placed under the supervision-; of the same Department, or conflict of
decision and jurisdictipri may, and does in fact^ takeplace.
. Having thus detached the Patent Office from the Departinent of State,
the Land Office frorri the Treasuiy, as well as its supervisory duties in
connection with accounts of marshals and clerks of the court, including
their connectipn with the census ; having detached, also, from the War
Department the Indian bureau and the Pension Office, the same super


314

R E P O R T S OF T H E

^

[1848.

visory authority as regards them all now exercised respectively by the
Secretary of State, the Secretary of the Treasury, and the Secretary.of
War, should be entrusted to the head of a new department, to be called
l h e Secretary ofthe Inteiior, inasmuch as his duties would be conneeted
with those branches ofthe pubhc service, devolved upon this Government by the express letter of the Constitution,: associated with our
domestic.affairs. .The iduties of this new departmentj/thus organized,
would be great and important, fully equal .to those 'appertaining to the
head of any other Department except t t e Treasury urider'our system as
at present organized. The whole, increased expense of this reorganization would not exceed twenty thousand dollars per. annum,; whereas to
the Governinent, in an increased accountability and efficiency of the ^
service, and to the people, in the more proriipt discharge of their business
with the several Departments and bureaus, arid .the" consequent immense
savirig of time and expense, the ,gain would be great ^indeed, the advantages vastly exceeding the small additional expense. From the great
and continued multiplicatidn o f t h e business ofthe Treasury Department as now organized, withthe rapid increase of our maritime frontiers,
our area, our commerce, revenue, and population, there is great danger
that, at some future period, the Treasury Department may be broken .
down by the weight of. its-labors, and consequences ensue disastrous to
the public interest.
• - , ' , , .
. Organized even as now proposed, theduties of the/Treasury Department would still be great and arduous.
. •
Connected with this subject, I recommend the completion, at an early ^
day, ofthe Treasury building-, so as to secure fire-proof rooms l o all our''
bureaus, free from rent, as w^ell as to accommodate and include, in this
edifice, the State Department, with its invaluable archiyes.
This Departinent has purchased for the sum appropriated by Congress, both the biidges within this. Distribt over the .Eastern Branch of
the Potomac, which are nbw .free of toll, as designed by .the wise and „
liberaMegislation of Congress ; and in consummating this result, valuable aid was rendered to me by the -Maiyor of this city.
The various recommendations of this my last financial report are
respectfully submittedlo the enhghtened consideration ofthe "two Houses
of Congress. They are believedlo'be such as woulcl best promote the
true interests ofthe American people/ For therii and for my country,
and her glorious Confederacy of sovereigri and united States, I invoke
the continued blessings bf -Heaveri.^ May her unioii be harmoiiious,
progressive, and perpetual! May her career be one of honor, peace,
and glory—of equity, justice, arid good faith.- May each successive
Administration, in all time'to coriie, in faithfully discharging the arduous
duties of i t s exalted; trust,'receive the. support and approbation of'the
people. Guided by conscious rectitude, inay they be commended and
sustained in every effort to promote lhe-public good, aiid everi their
errors, which are the lot of humanity, be regarded with indulgence, and
overruled by a benignant Providence, for the acly anc ement of the happiness and welfare of our beloved country.. . . • . - ^
R. J. W A L K E R , . Secretary ofi the Treasury.
Hon. ROBERT C . WINTHROP, Speaker ofi the House ofi Representatives.



1848.]

SECRETARY OF T H E TREASURY.

315

STATEMENTS' •
Accompanying the Annual Report ofi the Secretary qf the Treasury.

•.

A. • ,

•

Statement ofi Duties, Revenues-, and Public Expenditures, during thefiscal year
ending June 30,1848, agreeably to warrants issued, exclusive'ofi trust fiunds.
The receipts into the Treasury during the fiscal year ending June 30, 1848, were as follows:
•From'customs, viz:
'
^^ ' '
•- " During the quarter ending September 30, 1847
$11,106,257
Do. '
^ do. • December 31, 1847
5,37§',I52
Do.
d o . - March3I,I848
...'.
9,3.83,092
Do.
do.
June3a,I848
. . . . , . ' 5,888,567
^
From sales of public land.;
From miscellaneous^ and incidental sources.
...••...

41
74
92
89,
PI,757,070 96
3,328,642 56
351,037 07

Total receipts, exclusive of loans and Treasury notes.

35,436,750 59

Avails of Treasury notes issued under act of July 22, 1846....
250,000 00
Do.
.
do.
do.
Jan. 28, 1847...-. 11,956,950 00
Stock issued for specie: deposited under act July 22, 1846.'...
111,000 00
Do.
do,.'
do.
Jan. 28, 1847.... 1,858,372 00.
Stock issued in funding Treasury notes under act July 22,1846.. 1,735,050^ 00
Stock issued in' funding Trieasury notes under act-January 28,
^ 1847.
..-..,
.-.; '5,252,500 00
Stock issued in funding Treasury notes under acts prior to July^
22, 1846.
'. .1
:
92,828 00
'
- •
'—
•
21,256,700 00
. '
'
Balance in the Treasury July 1,- 1847.
.Totalrneans,

.'

'
<...........;...:

,
,

56,693,450 59
1,701,251 25
; 58,394,701 84

The expenditures for the fiseal year ending June 30,1848, exclusive of trust funds, w.ere—
,

'

.CIVIL LIST.

Legislative
.,
".
.......'..':.......:
" 953,392 -75
Executive
. 953,170 80
Judiciary.-......"..
\;
:
, 593,654 81
Governments in the Territories ol the-United 'States.
' ; 39,730 56
Surveyors and- their clerks
1.........-.
61,907 00
Oflicers of the mint and branches.,
".-..
42,600'00
Commissioner of. the Public Buildings.
2,000 00
Secretary to sign patents for public lands
.•.'........-.
1,500 00
•> Total civil list.....,.
:..........
^

FOREIGN

INTERCOURSE;

Salaries of Ministers.'.
:.....
....:
Salary of Minister Resident to Turkey
Sala.ries of Charges' d-'Aflfaires....
'.'..........
Salaries of Secretaries of L e g a t i o n . , , . ; . . . . . . . .



— ....

36,500
6,000
64,037
9,062

00
00
51
32

2,647,955 92;

[1848.

REPORTS OF THE

316

Salary of dragoman to Turkey, and- contingencies
Commissioner to reside in China
Secretary and Chinese interpreter
Outfits of Charges d;Affaires
Renewal of diplomatic intercourse with Mexico
Certain diplomatic services (John'Black)
Commissioner to the Sandwich I s l a n d s . . . / . .>..... . J . . . ...^..-.
Contingent expenses of all the missions abroad.
,. T . . .
Contingent expenses of foreign intercourse
' Salary of the consul at London
'.'
Clerk hire, oflice rent, &cT,to consul at London...
Relief and protection of American seamen..,
;
Intercourse with the Barbary Powers
.'...-......
Interpreters, guards, and other expenses of the consulates in the
Turkish dominions
;..
Payments of claims of the late Republic of Texas, i
-.
Payments under the Oth article ofthe treaty with .Spain, of February 22, 1819
.'
:.,.:
Total foreign intercourse
.

^

$2,900 00
3,450 00
3,058 94
29,250 00
21,776 65
8,554 94
3,075 00
33,530 10
22,452 13
2,000 00
2,800 00
97,937 97
13,067 33.
,

1,258' 81
30,00.0 00
186 00

'-—^

MISCELLANEOUS.

"Surveys of public lands
-..
.'
;.
169,902 63
Support and maintenance of light-houses, &c
419,277 80
Building light-houses . -.
.'.
.-.'
. 182,169 88
Marine hospital estabhshment
;
' ' I40,9§5 50
Building marine hospitals
'..'
.-. . 23,376 07
Building custom-houses and warehouses...-.
'
92,140 48
PubHc buildings in Washington, &c
:
,
36,325 05
Support and maintenance of the penitentiary of District of Co•lumbia
,
:..
7,389 46
, Relief of theseveral corporate cities of the District ofColumbia
113,350 98
Auxiliary watch for the city of Washington .•
;..'.
^ 7,333" 33
Support of insane paupersof the District of Columbia
' 3,700 00
Patent fund
.'.-..../.........
46^708 28
Survey of the coast of the United States
...'
..;
...
146,000 00 •
Mint establishment
.'
,....." 76,850 00
Three per cent, to the State of Illinois........
,....../.
. 43,383' 40
Five per cent.°to the. State of Louisiana.
>
. .6,567 75
Three per cent, to the State of Alabama.;
.
21,574 56
Three per cent', to the State -of Missouri.:....-...
, 31,997 '96
Three per cent, to the State oF Mississippi...:. ...^
13,049' 86
Five per cent, to the.State of Michigan...
.'..
...;...,
. 1,649 15
Five per cent, to the State of Arkansas
'
2,600 28
Five per cent, to the State of.Flprida...
^ , 1,930. 92
Two per cent, to the State of Mississippi
5,039 83 .
Debentures and other charges.
.....-.......'.
252,00.0 00
Additional compensation to ofiicers of the customs
.4,238 58
Payment of horses lost, &c..
-. —
6,166' 09
Repayment of lands erroneously sold..,
.''....
22,669 12
Refunding purchase money for lands sold in the Greensburg district, Louisiana
;
...,....'.
Ij547 71
Expenses incident to loans and Treasury notes
,
25,532 02
Results and account of the Exploring Expedition
'
20,0,00 00
Preparing indices to the manuscript papers of Washington, &c..
1,256 00
Postages" charged to the Executive Departments., or Bureaus
thereof
..>
.22,221 9^ .
Additional compensation- to judges of'Missouri^ & c . . . . . . . . . . . . . .
2,000 00
Expenses ofthe Smithsonian Institution, per act August 10,1846
30,910 0 7 '
Payment of certain c e r t i f i c a t e s . , . . . . . . . . . , . . . . . . . . . . . . . . . . ' . . . . . . ,
• -. 392 ;I7" •
Expenses of the mineral.land 'service..'...,
.-.
'
45,606 17
Salaries of assiistant treasurers and clerks
' • 24,589 80
Contingencies o'f their oflices
"
•
11,806 08
Compensation of ^special agents to examine .accounts and iTiQney
.'
•
i
in the hands of the several depositaries. •.
!.....-.
2,793 60
Refunding duties paid under protest, act March 3, 1839
'..'.
30,1,783 76,
Discriminating tonnage duties, act August 3, 1846
.'
1,745 72
Refunding duties on foreign merchandise, act August 8,1846...
- 53j566 28
Refundina; duties collected contrary to the terms of the conven-'
tion of 1815
.
2,202'35
unding duties collected under act August 30,1842
87 1 6 '



$390,89,7,70

1848.]

SECRETARY OF THE TREASURY.

317

Consular receipts
$609 66
Building revenue cutter
'.'.
.'
6,000 00
Purchase of manuscript papers of James Madison
25,000 00
Historical painting for the Capitol
"...
'
2,000 00
Repairs of the Potomac bridge.
" 2,20000
Payment of books ordered by Congress
,.
11,849 69
Completing the synopsis of Treasury instructions, cfec
• • • •, "
2,000 00
Rehef of sundry individuals
.
66,340 30
Miscellaneous items..'...,
.,
.^
'..
3,779 59 .
Total miscellaneous
;
$2,54,621 60
UNDER THE DIRECTION OP THE WAR DEPARTMENT. .

Army proper . . . . . . . '
."
-.
'
18,93'9,155 84.
Military Academy
;..,....;.......
130,537 16
Fortifications and other works of defence
.'
313,743 90
Armories, arsenals, and munitions of war
1,306,486 47
Harbors, riVers, roads, c&c
.'.. .,•.
67,736 07
Surveys.../....
. 30,893 47
Pensions
'
'.
1,19,4,884 99
Indian department
'..;
1,097,-606.80
Claims of the State of Virginia
;........-:
: . . . 26,906 01
Arming and equipping m i l i t i a . . . : . . . v'. • •,• • . . . . . . . '
•
.' 292,780 64
Payments, to volunteers and militia of'States and Territories..'.. 3,226,442 53
Mexican hostilities...
:
1,174,232 32
Relief of individuals, ahd miscellaneous
.18,756 88
^
Total under War Department
,
.
27,820,163 08
UNDER THE DIRECTION OF THE NAVY DEPARTMENT.

Pay and subsistence, including nie'^dicines, c&c
5,61,9,001 93
Ihcrease, repairs, ordnance, and equipments
2,877,713 35
Contingent expenses
..^
^
708,176 94
Navy-yards . . . .^..".
^."...'
.:...;
•' 856,109 76 ,
Navy hospitals and "asylums.
.....'
.;
65,055 37
Pensions...-..:.,...:.i...........-..,
91,447 0 7 .
Relief of individuals, and miscellaneous
•..,.,.. • r,* ; 5.0,357 14
Marine corps . . - . . . . . . . . . . . . . . . . . . . \
; . . . . . . . . . . . , . . . . " . . . fi > 402,555 40
-. .
'
/ ,
10,670,416.96
From which deduct excess bf repayments : '
Magazines
:
$933 24 "
Mexican hostilities
.
;
1,^62,746-44
..
'
^
^ — — T - 1,263,679 68
Total under Navy • D.epartment..... * . . . . . . . : . . ' . —

• -::

.

.

'

' \

9,406,737 28

PUBLIC DEBT.

Paying the old public debt,
..,
.".,.,.
' , 6,739 88
Intereston the pubhc debt
:.
;
^...
1,632,869 Sl
Interest on Mexican indemnity stock.;
\.. .\
15,519 21 ^'
Interest on war bounty s t o c k . . . . . . . . . . .>. .'.•'.'."
;......
. ' 5,09.2 05
Reimbursement of Treasu'ry notes',, per acts jorior to July 22, '
1846; ofwhich $3,400 was paid in specie, $28,400 received
. for customs, $4,200 for lands,'and $92-,828 funded..'.....-.. '
128,828 00
Reimbursement of Treasury notes, per act July 22, 1846; .of
which-$99,100 was paid in specie, $1,205,850 received for
customs, $21,000 for lands, and $l,735,050'funded...
3,061,000 00
Reimbursement of Treasury no.tes, per act of January 28, 1847;
of which $123,200 was paid in specie, $4,462,050 recei-ved , ''
' for customs, $1,000 for lands, and $5,252,500 funded
9,838,750 00
Interest on Treasury notes
,.
737,343 60
Redemption of Treasury notes purloined, including interest
'
3,054 66
Total public debt
$15,429,197 21
Total expenditures...

58,241,167 24

Balance in the treasury, July 1, 1848

$153,534 60

TREASURY DEPARTMENT, REGISTER'S OFFICE, JSTovember 11, 1848.




DANIEL GRAHAM, Register.

[1848.

R E P O R T S OF T H E

318

B.
^
'
'
Statement ofi Duties, -Revenues, and Public Expenditures, fior the first quarter
ofi thefiscal year, firom July 1 to September 30, 1848, agreeably to warrants
issued, exclusive ofi trust fiunds. _
_
• ^ ^^
RECEIPTS.

From customs
".
From sales ofpublic la.nds
From miscellaneous and incidental sources

>'!

'

. . . $8,991,935 07
., 482,709 40
133,270 35

^

•
. " . $9,607,914 82.
From avails of Treasury notes issued under act of January 28,
.
1847
;...-.:......
;.....
,
'-$1,126,000 00 ^
From avails of stock issu'ed for specie deposited, act January '
.
,
28,1847
,
:;•....
......
10,000 00
,
From avails of stock issued ih^funding Treasury notes, under act
>
• July 22, 1846.^.-.........
102,750 00 '
From avails of stock issued in funding Treasury notes, under act
January 28, 1847
.^ 2,35,5,150 00
From avails of"stock issued in funding'Treasury notes, under -.
.'
acts prior to act of July 22,1846.
...'.«......-...
4,650 00
From avails of stock issued under act ofMarch 31, 1848
".. ' 6,528,650 00
,
•'
10,127,200 00
.
.

,

EXPENDITURES.

.

.

$19,735,114 82;

,

Civil Hst, miscellaneous, and foreign intercourse, including $1,951,874 I6-, oii^,
account of treaty of peace with Mexico, per act March 3', 1847
..•.•.. $3,371,231 13'
Army proper, (fee
•
...^.
.-..
..j.
6,862,090' 24
Fortifications, ordnance, arming militia,^cfcc.
.........-....'.
'192,669 65
Indian d e p a r t m e n t . . . . ' . . . .
..-.•.
'/......
633,496 51
Pensions
376,594 98
Naval establishment...*...
:.' : . . . . . . 2,979,022 17
Paying old public debt
-.
'
$97373^ •
Interest on the public debt
rr»...
4,72985
Interest on the MexicaLn indemnity stock.
'7,691 25
Interest on war bounty stock
•..
i......:....
7 66
Interest on Treasury notes
;
' . . . ' 168,747 -74
Reimbursement of-Treasury notes, under acts prior to act July- . ,
22, 1846; of which $300 was paid in specie, $50 received of
lands, and $4,650 funded
.^."
'.:..
5,000 00
' '
Reimbursement of treasury notes, under act of July 22, 1846;of which $2,750 was p.aid in specie, $900 received for customs,
$l,200forlands, and $105,750 funded..',
'.....107,600,00
Reimbursement of treasury notes, under act January 28, 1847;
.
,
of which $800,000 was purchased and paid for iri specie, $1,000
received for customs,,$IOO for lands, and $2,355,150.funded....'' 3,156,250 00
"^

fi

fi-

r- '

'

' ^

.

-

fi

3,451,000 23$17,866,104 91

TREASURY DEPARTMENT, REGISTER'S OFFICE, JVbrember 22,1848. - • '




•

O

DANIEL GRAHAM, Resister.

00

Statement ofi the fiunds a/cailable to the Treasury October 1, 1848,firomLoans'and Treasury Notes, viz:
Under the act of July 22, 1846, and the first section of the act of January 28,-1847
'-.....
Under the 14th s'ection ofthe act ofJanuary 28,1847, being' the amount of Treasury notes issued prior
to 1846, and by that section authorized to be funded
%
.i

$33,000,000 00
-300,034 75

O

33,300,034 75
Less by funds received from the following sources,"viz:
In specie, for stock which has'been i s s u e d . . , . . '
In specie, for Treasury notes of 1846 and 1847, subsequently converted.into s t o c k . . . . . . . ;
In specie, for Treasury notes of 1846 and 1847, remaining outstanding.
:.......,..
By the issue of stock for Treasury notes issued prior to 1846, per the 14th' section of the act of January, 1847
,

$8,190,721 45
12,261,300 00
11,617,400 00

H
!>

133,728, 00
32,203,149 45

Leaving the amounts availa,ble'under the said acts.

,. -.

O
$1,096,885 30-

VIZ:
"
^
Under the act of 1846, and the 1st section of 1847
...;......,
Under the 14th section pfthe act of 1847, pro-vided they be surrendered for stock .

Amount available under the act ofMarch 31, 1848, whichoauthorizes a loan.of...
Ofwhich there hadbeen received in specie, to October 1, 1848
Leaving the available amount . . . . . ,

930,578 55
166,306 75
16,000,000 00
6,528,650 00

..;.

9,471,350 00

Total available means arising from'Treasury notes and loans, October 1, 1848.

$10,568,235 30

TREASURY DEPARTMENT, REGISTER'S OFFICE, jydvember 20,




>
CQ

d

1848.

DANIEL GRAHAM, Register.

CO

320

R E P O R T S OF T H E

^.

[1848.

Statement ofi the Receipts from Customs, under the tariff ofi 1842, firom its
commenceinent, August 30, 1842-, to its termination, November 30, 1846.
For the month of September,- 1842
•
$2,314,012 99
For the quarter ending December.31,1842
3,9^7,137 81
Do. '
March 31, 1843...
;.
2,940,804 16
Do.
June 30, 1843
.' 4,106,039 75
Do.
September 30,, 1843
.'
. ^6,132,272 09
Do.
December 3 1 , - 1 8 4 3 . - . . . . . . ' . . . . . . . '
- 3,881,993 47
Do.
March 31, 1844...,7,675,366 40
Do.
June 30, 1844..'.
'
8,493,938 98
Do.
September ^0, 1844
v . . . . . . . . . 10,873,718 04
Do.
December 31, 1844 . . . . . . . . . . . ;
;.,..'.
4,067,445 15
Do.
March 31, 1845
'.
.'.. 6,385,558 83
Do.
June 30, 1845
/
6,201,390 68
Do.
September 30, 1845.
....". 8,861,932 14
'Do.
December 31, 1845
'.'
4,192,790 77
Do. ' >
March 31, 1846
7,357,192 51
Do. .
June 30, 1846
...:..;
. . . : . . . . . . ' . 6,300,752 45
Do.
' September 30, 1846
;. - 6,153,826 58
For October and November, 1846
.' 1,688,480 32
.

'

,

'

^

101,554,653 12

The monthly average of receipts from customs, during the operatibn of the tariff'.
of 1842, w a s . . . . . . ' . . . '
. ' . . . . $1,991,267 36
TREASURY DEPARTMENT,

^

>

. '

,

-

REGISTER'S.OFFICE, i)ece7?i&er 4, 1848. ..

'

.

:

-

.
'

,

DANIEL GRAHAM, Res:ister.

Receipts from customs from-July 1,-1846, to November 30,1846, amounted^to.. $7,842,306 90
Receipts from customs from December 1,1846, to June 30, 1847^ amounted
to
:.-......
y..i
:.
............;
$15,905,557 76
Affffresate receipts from customs.from December 1,1846, to September 30', 1848,- ^ /
was!
........•;....,...'..•.
...$56,654,563 79.
> Averasre monthly receipts from customs' for .the 'fiscal year ending June 30,
1848, i s . . . .
$2,646,422 58
Average monthly receipts from customs-for .the whole period,/rom Decernber I,
1846, to Septem.her.30, .1848, being twenty-two months, i s . . . . . . . . . . . . . . . . . . $2,575,207 44
TREASURY'DEPARTMENT, ,
REGISTER'S OFFICE, Decemher 4, 1848.

'

^




;,

,

-

D A m ^ L G n A U A M , Register.

F.

CD

S t a t e m e n t o f the total i m p o r t s , a n d the i m p o r t s c o n s u m e d i n the ' U n i t e d S t a t e s , exclusive o f specie, d u r i n g each J i s c a l y e a r , f r o m 1 8 2 1 t o ^ l S A S ; , s h o w i n g , a l s o , the-domestic
' ' ••
a n d f o r e i g n eocports, exclusive o f specie y a n d t h e tonriage employed d u r i n g t h e s a m e period.s.
• '
.^

OD

<

o

52«
Years.

I

Total imports.

Total exports.

Tonnage.

o ,
S= t ^ CJ

C i ; •"

1821(40 September 30)
1822'..., . . . . d o
..r...
.1823....-....do..:.
1824.
do;..-..........
1825
.da......
1826
do....
1827;.......do
1828:... ....do......
1829.... . . . . d o . . . .
1830.... ..^..do....
]S31.... ....do..;.
1 8 3 2 ; . . . . . . . d o . . . , . ...r....
1833....
do
1834.... . . . . d o . . . .
1835
do...
'
1836
do
1837..
. . do
1838..'.
do. . ^ . . . ; . . . '
1839........do.........'.
-.:
1840.....'...do.
1 8 4 1 . ; . . . . . . do";
^
1842
do.......;-....
1842 (to Deceniber 31—3 months)
1843 (January 1 to.June-30—6 m o n t h s ) . . .
1844 (from July 1,1843, to. JuneJ30,1844).
1845 (to J u n e 30)
1846
do.... i.
'.
;.......
1847
do
1848........do
;

$43,671,894
$62,585,724 . $43,696,405
49,874,079
68,395,673
83,241,541
47,155,408•
51,310,736
? 77,579,267
50,649,500
53,846,567"
• 80„549,007
66,944,745
66,395,722
96/310,075
57,652,577
52,449,855
'84,974-,477
57,878,117
'54,901,108
79,484,068
88,509,824 • 66,975,505 - 49.976,632
• 5.5,'087,307
54,.741,571
7.4,492,527
-58,524,878
49,.575,099
70,876,920
103,191,124
82.808,110 '• .59',218,583
75^327,688 • 61,726,529
10i;029j266^
69,9.50,856
108;]18,311 ' . '83,470,067
80,623,662
86,973,147
126,521,3.32
100,459,481
122,007,974
149,895,742
106,570,942
158,831,392189,980;035
- '94-,280,895
113,310,.571
140,989,217
95,560,880
86,552,598
113,717,404
101,.625,5.33
145,870,816
162,092,132
107,1-41,519
111,660,561
86,250,335
127,946,177114,776',369
103,636,236
100,162,087
87,996,.318
9l-,-799,242
21,-.584,599
12,431,376
25,895,451
43',169.200
51,790,903
24,862,753
'108,435,035
99,531,774
- 96,390,548
~^]l7j254,564
98,455,330
105,599,541
121,691,797
101,718,042
110,048,859
146,545,638
116.258,310 .150,574,844
154,977,876
127;490,0'12
130,203,709

$10,824,429
11,476,022.
21,i'70,63518^322,605
• 23,793,588
. 20,440,934'
16,431,830
14,044,578
12,347;34413,145,857
13^077,069
19,794,074
17,577,87621,636,'§53
14,756,.321
17,767,76217,162,-232
9,417.6.90.
10-,626,140
12,008,371
8,181,235
8,078,753
1,713,112
3,426,223
6,214,058
7,584,781
7,865,206
6,166,039>
7,986,806

1,298,958
$64,974,382
1,324,699
. 72,160,281
1,336,566
74-699,030
1,389,163
75,9^6,6571,423,112
' 99,.535,"388
1,534,191
77,595,322
- 82,324,827 " r,620;608
.
l,74i;392
72,264,686
1,260,798
72,358,671
1,191,776
- 73,849,508
•1,267,847
81,310,-.583
1,439,450
87,176,9431,606,1.51.
90,140,433
1,758,907
104,336,973
1,824,940
J 121,693,577
1,882,103
128,663, OiP
1,896,656
117,419,376
1,995,640
108,-486,616
2,096,479
121.,028;416
2,180,764
.l'32,085j946
2,130j744
121,851,803
2,092,391
104,691,534
2,:i74,862
28,-l 15,493.
2,158,603
- 56,230,987
2,280,095
111,200,046
2,417,002
114,640,606
> 2,562,085
113,488,516
2,839,046
1,58,648,622
3,150,502
154,032,131

CO

T R E A S U R Y D E P A R T M E N T , R E G I S T E R ' S O F F I C E , Deceinber 4 , 1 8 4 8 .




D A N I E L G R A H A M , Register.

^

322

[1S48.

REPORTS OF THE

.

" ' .

•

• ' .

••

9

•

-.'•'

-

T h e domestic exports to the British empire, exclusive:of specie, during the fiscal year ending
on the 30th June,. 1848, amoui^ted t o . . . - . . . . . . . . . . . . ' .
.....
. .•.$78,741.,416
T R E A S U R Y D E P A R T M E N T ; R E G I S T E R ' S O F F I C E , i)ecew&er 4, 1848.

.

"'

: \ _ \

.

.'

D A N I E L G R A H A M , 12e^zs«er.

T h e domestic exports, to Great B r i t a i n ' a n d Ireland, exclusiye of specie,- during the fiscal year
ending on the 30th J u n e , .1848, amounted to.".
. ' ; : . . . ; . . . . . . • . . . . .^.,.$64,222,268
T R E A S U R Y D E P A R T M E N T , R E G I S T E R ' S 0PFi>CE,..i)ece?n6er'4, 1848.

.

,

•

.

..: ; , - • . . . - • •

'

: ' ,-;:;:.'•

'

^

>-

.DANIEL-GRAHAM,i^egis^er.

ll'.^-^{Compiled,firo7n^ Treasury Returns in 18,4:4.)'

id'

Imported'articles^

Dutie's under the
K .tariff of 1842.

Bockings and." b a i z e s . . - . . . ' ; . . . ! . '.^... . \ ' . " . . ; - . . . . . . . . . . . . . . . . . . . , ' ' . / , . . .14 cts. pr. sq. y d .
Manufactures of cottoh,'hot d y e d . . . . > , . . . . . ; . . . . . . . . ; . . .-•'.. ^.-..;.
Minimi,im duty.,
Do.
do. d y e d . . . . : . . . . ' . . ; ; . " .
do.'.......
Uncolored cotton, twist, y a r n , and t h r e a d . . . . . . . ' .
.do
Colored
do.
^ do.
.....'......-...
: ,
..do
Tarred) cables and c o r d a g e . . . . . . . . . > . . , . ' . . • . . . . . . . / . . - . . . : . . . . . . . ' , .
5 cts. per pound,
Untarred cordage. . . . , . . / . . . . . - . . * . . .
,...';...'»...
4i
do...
Untarred y a r n ' . . ' , . . . i . ' . . . . . . . .
'.
^. •6 . . . . d o
Cotton bagging
*..."....'.,
4 cts. pr. sq. yd.
G u n n y cloth.
;....*... . . • . . . . . . . . . . . . . . . . . . . . .
5. . d o . . . . d o . . . .
Iron, in bars or bolts, wholly,or in part mahufacturedxby rolling.
$25 per ton
Railroad iron
."'. ^ . . . . . . . . . . • . . . . . . . . . . . , / . . . . . . * . . . . . . . .
•25...do
Pig iron.
.1..... i..............:..,.
,9...do..
Vessels of cast iron, not s p e c i f i e d . . . . '
.:.
lg ct. p e r p o u n d .
Castings of iron, not otherwise s p e c i f i e d . . ' . . . . . . . . . . . . . . . . . . . . . . . .
1
do.......
Sadirons
,.;...
...^...;..........
2i...:do
H a t t e r s ' and tailors' i r o n s . . . . . ...•.,.
;
"•^ . . . d o
2i.
Cast iron b u t t s . . . . . . ' . . - . ' . . . . . ; i . ' . . . . . . . . . . . . . . . / . , . . . . . , .
.do
21..
Iron and steel wire, not exceeding N o . 1 4 . . . -..... . . , . K . : . . . . . ; . .
5... . . . d o . . . . . . .
R o u n d or square iron, or braziers' r o d s , of ceVtEiin d i a m e t e r . . . . .
2 ^ . ..do
Nail- or spike r o d s . . . . . . . . . . ; . . . . . . . : . . . . . • . . . . . . " " . . . . . . ' .
'..:.
2k.... . . d o . . . . . . . .
Nail j)lates, slit, rolled, or hammered
^
;.
.;.
21.. ...do..
Iron, in s h e e t s - . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ^ . . . . . * . . - ' . . . . . . . .
21: ...do..H o o p iron., i
.-;.'.
2|. . . . d o . . . . . . .
Slit, rolled, or hammered j fdr band iron;.
;
.......
2|. . . : d o . . . . . : .
Scroll iron or c a s e m e n t - r o d s , . . . . . ; . . . . ' .
...^ ; • . . . . . . . . v . ^2i. . . . d o . . . . . . .
•2h.-. . ' . d o ;
Iron- cables or . c h a i n s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . , ' .
...do.......
Do.
-do. parts thereof i
.i...,.
A n c h o r s , or parts therebf.
i . . . . . . . . . ; . ' ; . . * . . . . i,.. 2 k . .. . .do
.do....'...-,
A n v i l s . . . . . . . . . . . . . . . . . i . . . . . . . . . , . . . ; . . . . .^...... ..i..........
2|..
Blacksmiths' hammers and sledges.
21.. . d o . . . ^ . . . .
I r o n spikes', cut-or w r o u g h t . . . . . . ; . , . . . c,. ."^-......;
,......
3 .. ... . d o
C u t i r o n nails.....................'
,.:.
.;....
3 ....do.......
W r o u g h t iron n a i l s . . . . . . . . . : . . . . ' . . . . , . - . . . . . - . . . . . . , • . . . . ; . . . . .,!•..'.
4 ;...do
Axletrees,:or parts t h e r e o f . . . . . . . . . . . . , . . . . . . . . . . / , . . . . ,
4 ....do........
Chains, other-than chain c a b l e s . . . . . . . . . ' . . - ; . j . . . . . . . . . . ^.. .r.... ,4 . . . . d o . . . . . . . .
Steam, gas, or w a t e r ' t u b e s . . , . . , . . . . . . . . . . . . .> . . . i . . . . ' . . . . . .•.^.. y5 . .^. . d o . . . . . . . .
5 c. p . thousand;.
T a c k s , not- exceeding 16 .ounces to the t h o u s a n d . . ; . . . . . . . . . . . .
$10 per-ton........
Old or scrap iron
.,..
12 cts; p . pound:.
W o o d screws, of i r o n . . . . . . . . ' . . , . . . . . . . . . . . ; ' . . . . . . : . . . . . . - . . ; . . . . ; .
30....do
Brass screws«<,•....
.^...
;............




w

O.^EH

,41
49
43
70
59'
71
188
199
53
49
77
77
72
45
49
55
55
41.
.62
85
56
56
47
137
51
.51
.80
80
, :44
•43
41
•'82
43
'.44
^78
93
'72
45
57
63^
47

CO

184,81

SECRETARY OF THE TREASURY.

323

H—Contmued.'.

Trnported articles.-

Duties under the
tariff pf 1842.

Br,ass7batteryr0r. hammered^ke.t^^^^^
...•.'•...... •.".'.. v*'.* v'*' • • 12:cjts.,p. ppund.
SoiidTheade^ pins, all other package,pins-;riot- excee;di.ng^5,QO0, to
,'the package oY 12,pape^^^^^
...'... :....;'....•;..'.-'.....; ..•.y;..;-... .V.^... 40-.G;ts. .per pack.
Pound-pris...•. ^^. r. ..*;..^... ^......;^^-".T-'-'-^•.'• •'• ....:-ij{'.^...^.'.v,^ 20'Gts...p. poiind.
.$1 75 per,ton,..On all vessels\or.-wai;es, articles an.cl'hi.ajiufactures :of cut-glass,,'
where the cutting on the article 'does hot •exce;ed:'(o'ne-third.,the,
height'or lengtli',thereoi^/.'.;.'. .v^...... ...i''.'....'. •• •.,..;. .>*'• .^. •'• ••'. .^-25 cts. p. pound.
•' . " Exceeding-pnig^third and,'not orie-half the sanie...'.../.-,..,...... 35;'... do.........
. '-, One-ihalf the lehg'th tlierepf.''.^r..!............ .•'..... .'/^..'. i'.,'. 45.'^..do.......^.
Cut-glass, chandeliers^, cahdlestic'ks^ lustres, lenses, lamps, p'risnis,anSiparts of same.•'.'..V..,' 'i/.U^ .• ..•..;,:'...'.' '.•/.>. .^...-...,.,,. .fi...... 45...;.>.dp.....*..
All aijticlesof plain-, rnoulded, or'''pressed' gliass,- wiei'ghing.8-'ou'nces,
oruhdet.'."'..;... .>-;..'!.'; r.'_. ..7:.;-;....;........:'.;.:.-. .\-.... ..;•/... i 2 . : . . . ; d o - . . . . . :
Plain, moulded,.o.f pressed.tiimblers............. ^ . . . . . . . . . 1..;.'.'..'
On all plainV moulded^ or^.pressed, when stoppered or th^' bottoms 10-....do.'. ...>..
ground...........-. .y.'....^..-.......-.... .>.....:....-.-.'.. . . ' . . • . : . .
Apothecaries'vials ;and'bottles,-not -exceeding the' capacity .ofs-6 1 4 . . . . d o . . . . . . . .
-ounces:each. • • • • ••'. .> «• * • •...'^^.•.'.;.. v.^.i. .v... i.,.;..:... ..-.-i-.'..* ...Black;gr greeiibottles and" jars, .exceeding :8 bounces arid;not. ex- §1^75 pWgross..
ceeding one^'quart.'... :..... .>. .i,'.;...,^.-:'....•..,.-..............;./.......'.'
,3; 00.do..
'Window gras"sV cylinder or,b.road-^- ' ^^. '; ' ' :'^. - .'^ ' ": - Not .exceeding'8-by-10 inches...':..'..;.'..'. .'i.^-..'.'.'...:.
Above tliat'an^-not'.exce'edi'ng.'lO by l'2anche.s.^ . . ; . . : . 2 cts.'p. sq..foot.
2'i^.;.db.;:....
,D.o... r... A x . . . ' . . ;d6.::, ;i4.b'y^
D o . . . . - . . . . . . . . . -.,...^do 1 i i.. 16 by li-.inches.......'. 3;f;.'.Uo.^.....
Do.'..'..'.. y . . . . : . d o . . . .'18 by I^ inches'..-'.'..^. 1; 'A •.^...do:.i..'.-:.
. Above,18 by,;i2 inches .'• .%• .\ T.."...'....:;."..:. 1......".. 5^ . ; . . d o . . . . . . .
^6 .:;:Mo;;
Crown windo-sv'glasSr:-" ,r. ' ..-•' ^ .• • '
'
Not exceeding lO.Uy' 8 inches... .-,•- /'..•-'.... . . . - i . . . . . 3 .do..
• Above that arid'not^exceeding-16^by, 11 intihes.,.....;. Y ' j ; . . d o .
' Ail exceeding 18 b'yl2--iri-ches;. 1 \ . \ ....; ..^.'..:•..-..'.:V. 1 0 . . . . d o : . . . . . .
White and red .lead..'.'./...'.:...-......'../.'.,.".......-.....'....... 4 c'ts. per pound.
Litharge-;:.. .•. . - . . . . ..•...• j.-.:....^-.v.. .'.^•.v-J.V. ..'.'.-.V. .'.'•t. .^^:."'. ^ '4..:
do^
Acetate-or chromate of l e a d . ' . . - . . . . . . . . . . . .'<
;.'...'.-...,....,.'. 4 . . . .do
..
Hla;nk'books, .bound.-.-i^".....'«;,; .-.y'.......:;_.-^...- .......,,•.;":'...;:.... 2o::. . d o . . . . . . . . .
Brown'sugar, raw.
:r''•''-''' • *• • • *•'•-• *' •'"••• * • '•'"• '•'." * ** • 2 | . . . d o . .
Syrup of s u g a r . . ; . . / . . . . . . ...'..•;'.-. .•.-.;.,..'..'•;."...~...-!.-,:.........;.. ^2K; • d o . . .
.do
.-.
*Brown', clayed.*.:.:.;:..:..-. Jfi...•^. /.
'.'.i
'..
•.._.... * . . . . . .
Clayed or' clarified. -.'.."';.... i . . , , . . , . . . . , . . . " . ^ . . ' . . . ' . . . ' . . . . . . . . . . . 4 .;. . d o . . . . . . .
.do
6
Refined!.;
. . . . . / . . , . . . . . ; . . . .^.".-!.. ...r..-..,•....-.
4 | mills p. pound.
Molasses, i.....-.'..
•.......•....-.
8-cts. per bushel.
Sait.......-..^......."
; . . . . ' . i;-...
..•...,...




2 PHOO

43
53
.59
61
92
186
130
66
62
98

.115
55
64
.62
•• 75
• 99
113
126
165
'87
177
243
66
47
71
161
71
67
IOO
51
61

324

[l§48v

REPORTS- O F . T H E \:T.

•

\

Aggregate value ofi Breadstuffs ahd Provisions exported each year;, firom 1821
,
to 1848. inclusive.
"
•. '.
. Value.• years'. •
$12,341,901
• :iS35.;.
. 13,886,856'
;- 183,6...
•13,76.7,847". . ' • 1837.-.-.
; i5,059,484'
• .1838.....
11,634,449
, 1839;..
.11,303,496. <" • ••-,i8io;.:-..
n,685;'556 ' \ :;.i84lv.'.
vli;461,i44.. - • ••••'•-1842..V'.
1843.;.
I3',131,858.
"r.-.l844;.-.V
.12,075,430
/ ' • 1845.,'.,.
•I7;5a8,227;
• ,I^,424.,703 ' •• • • -I'846.^:-.'
I.4v209,128. • • ' ,' •18"47;/..
Il,524i'02.4- -^ • ^ " • • l ' 8 4 8 . : . v

Years.
1821....
1822.."..
.1823....
1824....
1825....
1826....
1827.-.'..
1828....
1829....
1830....,
1831....
1832..: .
1833
1834....

Value.,
......$12,Q09,399
. . . : . ' I0,6i4,13{>
. . ' . . . 9,588,359
..•..^- 9,636,650
..'.-.. r4.',147,779
:•:..;. 19,de7v535
..U:.i7,i96;m
ii,':/116,902,876
...:..;d.]:,204a23
:..i;.;l7,970,i35
vly.'-•16,743,421.
:;./:^7,70l',I21
: . ; . : , 68,701,921
ly.: .;..•'37,472,751
..:^l$47I,p0p,4O5

TotaL,
TREASURY DEI?ARTMENT,^'REGISTER'S OFF'icE-VI)ece??iie?\4, i84^

. .. \

-^

"^-.' '* ''. \ "^ ' '•' .

.; : ' f i : •'•' \ . ^ '• • S ; •;:-•'• •'•DANIEL^GRAHAMiEe^isier.

•'E;V'
Aniount of coinage at t h e m i n t and.branches to the 3Ist'0f December,-l'S46.;,. ;$122i480,322 -42
Coiried duririg, t h e , y e , a r l ^ 4 7 . . .
22,-655,206 57
To'tal to 31st • Deceniber5' 1847-... :-.>...:../:.. v.';',
145,1^5,528 99
.
''•
' ' .
' /Coined during tJ^e ye(ir ISiS^.'

January
•..'
.;..;-./...: ...V. ...:;.•...'/...,.....'.•..;.'..\$628-j895'55 "'^•.- '
February
. . . ; . . : , . . . . : ; . . . : . . . . , . . . . . : . . , . . : . , / . . .,.'.;•. :• /./.-': ' 332;1Q1 ;86' ^
March...........v.;v.....W.'.'.;.;.*:^:.;:^.,.v.'.'...;.:::....;.,...^;:^ "5I8,520'3a
A ' p r i i . . . . . . . . . . • • . : . \ , . . \ . . . ^ . v " . : • . . ' . : : . . : : ; v . ; . . ^ ' . / . i . : . v . . . . . . : • . ' . • 47x,609:29 •
May....
.:
V. ..:.'.•;..'..:.:;,...;. fi.-;-/..:'-,:., /,-,/':, . . . . • : '•-•287,065 87
June;..
: . . . . . : . ; . . : . , . ^ ; ' . . , . , : . ! . , . / . . , . ; . . . . ' : . . .:^;.:'.^.v 332,065-97^ ' July..—•.-./.:....:..'..:...:.'/...:X..:.:..:.,:.'.......:,..,^:
4i9-;052-^5.^ •
,. .
August
,....:.'...........;...
- . . . . . , . ; , . . . . . . V...; ..> .' 398,607':8T ' - • '
'September..... / i . : ./:•.... .y. ..'..•..,..;.;-..'.... .^^,.....,.:,....... ' 651,'282-38
O c t o b e r . . . . ; . . . . ' . , . . . ^ . . . . . . . : . : . . . ; . ; . . ' : . . . • . ; . . : : . - . : . . : . _ , : ' . . ',,,411,464 50> • •
' '.^'-'^•'/. • :.' ".'
. ' ' '.'^.- : . ' • ^ /,• ' \ - ' f i ^ — U . - ^ ^ : \ 4,456,666 17
TotaKamount of eoinage,to r^ovem'b.er'i; 1848.. I . \ . . . / - . / . . \ . . . . . : 149,592,195 16
• . t o t a l cpina^p,.from March'l; 1845,. to-JN^o.yjehiber-l, 1848.......;.. -^ 38,71-7',7^9 ;22,
TREASURY DEPARTMENT,-REGISTER'S OFFICE,.i)ece??i6er 4, 1848'^ • -'

"... • ,' \ , , . •;' . • .;...: ^ •

'.,

- -»

/'-^ ' -' '

r . . •' DANIEL GRAUAM^^Register..' -

Statement ofi amourit ofi Siietib and ofi' Treasury Notes received at ihe'cu'stoiii"
liouse. New York, firom January 1, 1847, to Noveinber 30, 1848. "•
Specie.
1st quarter, 1847.;
2d quarter, 1 8 4 7 . . . . . . .
5d quarter, 1847
4th quarter, 1847
I s t quarter, 1848
2d quarter, 1848.
3d quarter, 1848...,

'.

:.
..;...

T r e a s u r y notes.

t o t a l amount.

$3,880,243 49
$701,439 45
5,057,;'44 45
1,250 00
7,505,134 92
2,697,666.34 ,**""*42*l*37i*29
3,182,421 47 ,
'3,072,525 00, )
4,121,205 35
105 40'
;.
, 6,457,487 36
.
2,459,374 98 - , . . ' . . . . ' . . . . . 1 . . - .
35,360,678,36

4,196,69114

$4,581,682 94 1
5,058,394 45
7,505,13492
3,119,037 63
6,254,946 47 .
4,121,310 75
6,457,487'36
2,459,374 98
39,557,36.9 50 1

CusTOM-HousEj NEW YORK, COLLECTOR'S OFFICE, December 4, 1848'.




C.W.LAWRENCE.

1848.]

SECRETARY GF THE TREASURY.
,

'

•

•

•

'

M

.

•

•

'

•

•

•

•

•

325

'

, . T a b l e o f A c e q i t e d ' B i d s . f o r L o a n s of 1 8 4 8 .

Name.

Amount.

T . J ; Abott:.•.:.:.;•...'.... ^ . , , . . . . . . ; ; , . . . . . ; ; . . • . . . - i . i l ' . ^ . . ; , . . . .
Looe."Baker..'. t.'i.,.;.'.......-/..... ..-i, ..•.".,;;... / . . . " . . . . . . . . . . ; ;
tSaniuel L.-'Brooks...
'....-....-..-......;.'....''....,..
W . C.'Bestor:....;;;......'.rfi.J...'..:.,
..;;...-.'....,....
fl Do. . - ' . . . k . i . J , . . . . i . : . . . : . . . . , - . . . . . : / . ^
;....,^.../.
• Do.
. ..i:.'..,
c,/... . U , . . . , ; . . . . . , . . : ..•;^v. .;.'v.;..:.
Do. " . . . . . : : . . : : , . - . f i : . ^ . : . . ' . / . , . ; : . : : . . . . . . : . . y , , . . : . ; . . :
A. R. Corbin.'.'.'.'...''
;'. .-J.:'.. .•'.'...'...'...-.....'.. J : . . . . . . . .
E. W. Clark&;Brbthers.....:;.i.v;...l./.^;..,..•,....:•..;....
Do.
' -w^-'v'- ...^....^.:;./.'/..':.->.'. ../..r:--..'.:...::.,.,
Do.
Do.
Do.

...:.,..^.:.-.i.........;;;;.;.v.;...,....
:.^^ • • . . : . : . . . . i . . . . . : . . . ; . • . . . . . . v . . v . . ' . . : ; . . . : ; . .
•

/•-'

:....:.:.:..:..;........:.:...:...:..,

Do; . ,-"-.::^-> _:.^...^../.;^....\....-r......-...v..'.^...v
Do.. '

v-..•;'•

V.':i^.V.\fi^fififi.'{^fifi^fifi,fifi.'.

•

Bo.
: , . - • / • ......:/:-/. ^ . . . / f i , : . U . . . ^ . : . . . . . . . : . / . .
Do.
• • , fi/. ; • • . . , . . . 7 . A . , . ' f i : . ] , : . . . . : . . : . . . . . , . . - . " , . . : . / .
Corcoran & Rig^s,.for selves and Baring,'Brothers & Co:, Loi-ido-n.,
arid'othe'rs^i-,. J . i . . . ' . . . /..:..'..-.... : . y . . : . . . . . . . : . . . . . . . . . . ' , . . ; . .
€hubb-.& Schfenck;•.'...;
. ' . . " . . . ? . . . . . . . .•..
; . . . . ' . ; : . . : ..s.'..
l5o.,
..';;•:....:.!.......-;'.:...;.;....;
U.^..i.
•. D o . : • : „ . • ; ; _ , : v . .

•;-.-.,...;•...,

....•

.V.;..:,'

•
'

: $2,000 00
' 5,000:00

^ ioo-,oooVoo
",
''
.
:

5,000 00
5,00'0 00
5,000 00
'5v000 00:' 10,000 00
•150,000 00
•..100,000 00

iot),Do'o oo:

" 150,000 00
; 100,000 00

• o iOo;oo'o 00
100,000'00
. . -50,000^00:
. "• 50,000 o'o
- 50,000'00
16,00.0,000 m
.50,000 00
: 50,000.00
"
50,000:00
; 1^200^00
. ' 20^,000 00
'•
20ib00 00'
:' 10,0,000 00
\ - 10,000 00'
25,000'00
• 25,000 0,0'
' 25,00a 00

Charles Guaritt./,. v.'^.-.
..J*; i .'.'i.it..'.
^•...; ..'^. j .
J . B. B. Hale...::. V . . . . . . . . . . ; . . ^ . : w . . . . .v
'.i......,.;.
Do. ' ' '.,,;^_...;.,...<.....:.i,:......>......^..,'..-..:.:.._.:'...
J. p.'Hamilton-;;...'. .>!; i . . , . . . ; . : . ..•;.!.".'.....:.......'...•.'..'.....
Samuel Keith.^-;:.v:'. '.•: ; , ^ . . - ; . . . . . . * . / i . . . . .^. .•:.'.-.V. .^.v.
James C. McGuire'. -:.'
. ; ; : • . . . . . . . . V . . . . . . .^ . 1.":...'.'...... Do.
':• ' ; . . - . . . . . . ; . . . . ; ; . . . - ; . - . . i : . : ; . , . . . : . . . . • . . : . . . ; / . . , . ,
-Do. \ ... •*..•'..';;..^;......'/^,.:.r..•..:.:.....'..'.....;.:.
R. W.'Meade.,-... V^.,^..... .^..-.r. ;..U . ; , ; . . . , . . - . . . . . . . . ' . . . . .v.r,'..-i.
;, 10,00.0 00
W . R. .Morgan . .\'.-.-.. . ' . • . . ; . . : V... .•.".-..-....-..........'.....'.-.'. ' 250,000 00
Do.' - , ' . . . : . - ; , ; ; . . . . ' . ; . ' . . . . . . . i . . . ' . . . . - . ^ ^
: \ i . . . . . . .' 50,000.00
Lott'Newelj':.... . . i : . . : . . . . . / C . . . . . ^ . . . - . ' . ; . . ^. !.'.^'....:..'i.>.'.. . -1/ 5,000 00
5,000; 00
• Do. • . ; : . ; . . . . . . . . . . . " . . . ^ v . - ; . : . . ; . . - . : . . . . . . . . . . v , . . . . . . . . ^ . : \
5,000 00
Do: •" • : . . - . . . : ; . . . . : . . . . ~ . . . I : . : . . • : . : ' : . . . . . . v . \ . , . : U . . ; . ' . ; .
10,000 >00
H . M : Prevost.;..'...:.'-...: . ' . ' i : . . : . ' . . : ' . : . : . ' . • : . : ' . . ' . . . . . . ' : . . . . . . .
: 10,000 do
• D b : - •• • / . \ ' / . . . . . . : / . . . . : , . ' • . ; . v . . . . . . . . . : . . . . ' . . - ' . ' ^ ^ . . . . . . . . V
10,000 00
Do. •
...';<:::;'.....^.:...w;i.'.';-^'.:.'..
.-.i...;-:;'.'.,..
i0,O0O' 00
••-Do..
"•'.:;.....,.;;....;..v.:.;-;:i.:.:..:.;.^..";....-.•...;..:
'.
5;000 00'
. - D ^ ^ - •,^.,:.fi.fi-....:,y...::^
' 10,000-00
. T>o.
,-•:;.,ir.:......:....,.....^....::.^-..j.-^.......^.\...,..\'
'5,0,00 00
.• i)o. • :; . i ' . \ .;:......-....^.v.';.:;..:......
'....'
7i.-l...
5,ood;oo
.Do;. • • ;:.>,.:'.:.'.:.'..,./i.U.;.i..,;-.......•:./...-..^..i.,.'.^.. -.' ' 5,000:00:
J., p . Pleasants..;." .:^: .-..•.....'..':. .'>;..-..-. / i ' . . . ' . . •; -. \ . . . / .......-.. .:V.
10,000 00
- , \5;0oo 00
H . M:PrevoXiior'H;Haugh:^^^^^
'
.5,000 00
•'•
D o . . - , ' ;"•'^.^•^;^'
•
, . . : . : . . . . - : . \ . . : , . : / , . / . : : . : / . , .
5,'0d0',00
H : R. Schoolcmft'...........;.......:.....:.,... .V... ."l .-/•,.: / . . . . . ^
250,00"
H.. M. Wilsdn'.;...'V;.-.-;...;... 5,.,:-.l... . . / ^ . i . . ^ , . . . . : : . .'.'•'.-.\.'.•.
• 800 00
••' \.Db.'; . •'...-:.. .-.A.....;..;.-...; . . . V : : . . ; . . . . . . . . /:^/.../u./...-. • '
:;.2oo 0 0 '
Wi'rislo.w & Perkins v."..-...,.;".; ///,.-.-...,....."......;.,.'....'. .r.'...
50,00.0 00
$17,934,450 00

Rate per
cent.
4
3.06
3.06
3.53
3.63
3.78
4.03
3|^
3.03
3.13
3.20
3.28i
3.30
3.43
3.52i
3.33"
3.44
^3.56
.3.02
3.03
,-3.15
3.28
,3r
31
•3^ •

3.161
3.63
3.07
3.27
3.57
3.02
3.06
3.07
3.05
3.27
3.52
3.06
3.16
3.28
3.39
"3.55
3.56
3.65
3..80'
- 4.05
3.07
3.13
3.20
3.40
3\02
3|

H

3.02

* Amourit awarded;^toCorco,ran'& Riggs j Baring,,Brothers &C0.,/Of London, and others,
|14i06.5,550;v .Aniouh^fpremiurit.$'487,168.66.
,''.
. "., _



326

REPORT'S OF THE
M^-Continned..-—'Rejected .Bids.
Rate per
cent,

.Name.
J.C'Abel
..,..;..,......;....-....
John'M. Atwood, for Cohn M. Reed..
t . M. Abbett;....:......:.'.........:..-..,
Looe Baker..... .^. .,*'
.-..
Do.
......i:...:.....::...;:.
Do.
......V......
-/...':....:.
'-Do.., ...:^.'/../
,.:.'./:.....'.

.'Do. / ..;...,v.:;.

' • $1,000 -00'
• 800 do
12,000 oa• 5,000 oo
• 5,ooo:•do

2.28
2.53
•^2.78:
2;55
5;ooo .00'
11.
• 2;OO0' 00-1'
;• i-',oo0 .00 .
li:.
• 3,000' 00 . 2
' 10,000 00
11-'
- 25,000 00
l\ .
•'.•5;0O0 0 0 ,
2"
3,500 0 0 '
'2-'.
.^5,000. 00
li.
5,000 00
M
1,0Q0 00^
par.
:• 50,000 00
2.51
. :2vO00 •00. ,
1
v^ 8;Op0 :00 . ',2.80'
^3V00O- oa..
'••:5;000 00',
••;5',0'00;.:oo
, • 5,000 oo^ ;• 5,000,:oo

..>.;::,...=;.

m.
^ -mm.00..
' • 2,000

•-.>..•:;...••.•.•:...;..:;.;:::..•.:

• Do.. ..;,....V.......n^:..•.,:.-.
Do.
..:..-i...:L:.K.:..:....:...
Do.
....:/..:
,;.:.:.;.;:
Do.
^......v.:;'.........-..w.:
-. .Do. \.V...;,....i-.-..,.'.;..: ; . . ; . ,
S. Sidney Bree'sjelj;............ .-.<....'. -.'
Thomas Biddle & C o . ' , . . . . . . . . . . . . . . • . :
Do.
....'..;
^.'A;/...;;:..

\

Do.
Do.

..............:..-..'...v...r
v...;......:....:..

Do.

v...;:..;;.;....:........

• "Do;
Db;
• Do.

.............:....;...:;..
^ .:.;...;..........:,/.:..;•....;

Alexander Benson-deJCo. •,.:'.'....'.'..;,..
JamesBruen-. ..^.T.':'.•. ^...^ .fr.'.\-:.'..:'/^
Andrew Bruilet,...'.,..•....'..:./. '...".. '.'Vi
L. Bbiinefoux. •.... . 1 . ' . 1 .-.'v.'...."..".;..
Do. V. :,,..,.;.> ....;..•..'.•.,:......:
Do. / . . . . . . . } . . . • . . ' . ; . ; . . ; ' . . . . .
E. W . Clarke & Brothers..;. .•..•.•....;.
Do.
:..;.;..;.:.:.:.;..•.. I..,.
. Do.

•;.-:.::.:..,...:.:.;.:•.•..;;:.•;.

-Do. . ' / . ' . : : . . . ; ; . . . . ; " . ; V . : . . . : : : .
Do.

Do.,

•

:..;.'.;:.•...;....:...'.;.::'..

:..;..:..;;........s;^....

Do. - . y . . :

....:.

Do.
.:;.v:..
:.....
Do
..............;,,....,
Chubfc; &-Schenck
-.. :.:.":-A .^ :. v.
Do.
:,...............



.-.,,,^..,,.

•13

2 " '
^•li27'
.26
;51 ;.

^SOiOOO"20-000
\'20,OO0 00 ' ::m. '
•'20>000 00.. ; 1,01
-"20-,QO0 00
1.26
•' I5;0OU 00
i.^i.' 12,50O:.oo- -1.76
'-. 10,000. oa', •2.01
•^' 2v5O0 00."'
lfi
.-'•3,000 -00 .
L96,,
lO^OOO ,00
.2.07
10,000' 00
2a9
do ^ 2.20
• lo;^0O 00
•2.33
10,000 00'^
2.43
10,000 .00
'2.49
: -10;,00O 00
2^52
Mo,O0O "00
;^.55^
•io;ooO' oo2:$9
; -iO',600 oo.
-I05;ooo- 00,
'par.';
' '^vdob 00
i ;sr,00o
•'>i:6i"
^ ..20VOOO ^ ^
ll76
0.0.
..i',81'
--. i0',bOO 00
' ..^\04
'20,000 do
. ioo;0o.o dp • '2:0.7
2.14
- 5o;iOoo OOV2:^6
'5OVO0OlOO,
2.34
•' 5'O;O0O;o'o^^
.'2.63
50,000 00
2.511
. 50,0.00 00
2.76
:. 100,000 00
^2.94
100,000 '00
'.2-81
/100',0OO 00
2.03^
\1GO,000' ;00'
100,000^

:• io:,ooo-

• i,.:.......^..::'::.'.:::.:t
'...:.•..':......'./.::..-...,.

Do.

;2;:03^

•'• % m . O0<

thornas j . Bayley...... . . . . . ' * . . . . - . . . . .
.jos^eph' Burger: \ . / : . s i . . . . - . . ' . . . . . . . I . .
Hirani"i3ird^,ey.^'.'.. V"^.'......?.....'.'....
Anthony Best^;:.,;^.....;-.,^..,.. .•;';....;'.•. .<.•.
Job C.-Bouron'. .fi'.. ^ . . , i . . . ; . / . \ f i . . . .
Saniue.rBorden.-.. -.......\ ...:..'... .\ '...^
jfeenry..Be^cket.;.'.'...'..-......-. :«i,;..//-.i
Jdhn W . BEirker.-.';..;....,....,. /:,.•..
R. M;. Bla'ckwellj-.for^Eli Smallwqod',..
G. 'S'.'Benson';,....:..",.....'...-..'.'.......
Do.
:.,>...'...;....u.::....:.
W . G. Brown.
0 ..; :-:\;'.i
w . A. Buddv;.:.'.::...'•.,.-..:;...
F.-W.'Byrdsail..'., . ^ . . . . . . . i;;.,,:...',
Thomas P . Bayley.:. .>/.'fi .\, i'^'.'.'.';'.\'-.Henry ,Barhard , . , ^ . . . . . . . . , . ' . . ' . . . . . ' . .
He.nry Bodmer •. <
. J-.'..".....
fi'.........
Frederick:Bronson..;^;.,....'.\ . . u..\'.-..
Enos Brerier/.,. ..••'.."......,.-... 1,'..'....
M, G. Bright;.^.. .,V...,.-.'....: ; . ; . . . . . .\
L. Bonnefbux-...,,".'.'.-'. .;.*.:.;.... .'I.- .-'1 ..•
Do.
;......x.,V..:v..;i,..:......,.
• D o .

2.91
-I
1.53.

1848.]

SECRETARY OF THE TREASURY.

327

'M—Continued.—Rejected Bids.
Amount.

Name.
^Roderick CUrtis. ^...
Do.
...:...
Do.

\ - : . . ^ . . . . . . .i
........*......
....:.......................

..i;.. V

u ..,^i...

-......

.....>......

D. Cl'arksori"..'..%./..°.. .J.,^.: ........ .^........ -. ...,•.-.... ...*...'...'.
R. B. C r a n s t o n . . . . . . . . . . ' . . . . ; . . .f.\'........... i
i'iJ. Corning & C6-.\ ...^ ....'.;. .,i ......i.-y-.i..
....'.
. Robert S. • Casset............ . ^ . ^ . . . . . . . i . ..^^. .^.. .^. .^. t . . . . . .
Charles Cambios 1 . . . . . . . . . . . ..*-.... i . . . . . . . . . . . . ^ -.; i . . .%* / . -..
Stephen T . Cooperi............ *. ^. .* i . . ; . . . . . . v .'.ii
Williani.Cheney, jr....'......-..
. i . i , . . . . . . - . . . .•
Canirnaner & Whitehouse. i ; . . . . ; . . . . . . . . . . . i . . . . . i . . . . . :i . i . ^
Do.
John Clapp, jr., for Merchants' arid Traders' Bankj New York.
Do.

. . ; . . .J

....:.............:

::........

A. R. C o r b i n . : . ; . . . . ' ; . . . ' . . . . . . . . . . - . . - . . . . . . . . . . . . . . . . . . . . . . . . . ' .
Wiiiia.m "Coiristock....'
F. B. Gassing'fe^B-.-B. Mosely.......;, ..•.-....
........'...
Joseph S. Donovan.''.
. ; . . . . . . . . . . . . . . . . . . . . . ~.
Jam,es D i i n l a p . - . . . . . . . . . . . . . . . . . . . . . : . . . ..>.'...... . . • . - . . , . . . . ; . . .
Samuel Dalzel.
:..-.......
J. PvDurbiri-...,;..
. . . . . L . . . . . , . - . .7,
;......
Julius Y. Dewey.
•,..-................ ^ . ; . . , . . ; .
.'•....
Do.
........:
'.^
...;..
Do.
. . . .:^..
.:..
.;
Do.
. ......
...;
;..................
Do.
;.....
Do.
..,.,.:.........
;...:.:......
Do.
.:.............
Do.
..;.;..
:
,v..;...........,:.......
Do:

Do.

..i..;............

...r...

.....,:..........

;

Ebin D u n b a r V . . ; . . . . . ; . . . . . ' . .
John J. Dohalsdn..;
.....''..........
Do.
. . ; .:vv.
:.............:.....
.;.;....
Do.
..;........
\ Do., . . . ; . . . . . .
. Charles D e w e y . ' . . ' . , . . . . : . . : . . . . . . . . . . . . .

:

Do.

..:.;....

Do.
Do.

...•^.,:....i. . . .;:. . . . . . ; . . .«. . . .-.
.1.^.. . . . . . . . .
... J...................:............;v:......;.

Do.
Do.
Do.

-

...;1...

V...
\..;.....:...:..
.:.,.;.
.,..:......

;....
..........:...
'....;...'..;...

C. P': Duncan..'.'...-.. .....-•....' . . . . . . . . . - . . . . : . . . ' . . . . .•. ..>...,.
-Edmund J. Dub'oisv
.>..,....
C. G. English-. / . . . . . . . . . . . . . . . . .
•.....•.
._..:..
.^ James Erwin... i
....;.:..:...
.~.....
W . Easton....-.-'..,
,,,
. . . . . . .>,......-.-.
.-.
Ellis'&.Mbrtbn';.t.^.'.
;...'..:
........................-...
Do.: ^....'..:.
. . . . . . . . i.... ^................-......

'

no. •', .v.<.;.........vv....

....;...::.......-.-...

- Do. •.>.v.-...-...'....-;...,.....^.........;........:.....v.;,.
C. p . Fuller. . . V . . . . . . . . . . : . . .
.;.......
G- p . Greuk...-;.;.^
,'.....".
'..-.//.......
, W'.' S. G i t t i r i g s ' : . . . \
,•. .•.;•.... .-•.......;-..•
. . •. .^i.....
^ Do.
;....:.^.^..................,.;...........^;..
D o . . . . ^i,.
............... .V...............;...
'.

.

. D o . •

'••....•:.:.:...;^....:........-.-.v....;.VV...........

Do.
\Do. ;

...........;........^......

.-.

.........i../ii.......

John A.. Grinst^ad
. Jeremiah Goodwin._



. - . . . . . - , . . - . . . . . . . . . . . . . . . . . ; . . . . . . . *.

$5,000 00
5,000 00
5,000 00
25,000 00
3,500 00
50,-000 00
7,000 00
50,000 00
5,000 00
- 1,200 00
10,000 00
2,800 00
11,000 00
^ 11,000 00
20,000 00
1,000 00
32,000 00
20,000 oo;

Rate per
cent.
2.32
2.15
2.26
2:15
1.05
par.

u
par.
1
1
2
3 •
2
2i
2.05
2.55

• 2,000 00
J.
2,200 00
2,500 00
2.61
par;
1,000-00
1,-00O 00
1,000 00
02.10
i,0OO 00
1.000 00
1,000 00
1,000 00
I
.500 00
H
2
500 00
• '500.00
1.52
60,000 00
5,000 00
1.51
5,000 00.
1.77
5,000 00
2.07
5,000 00
2.27
1,000 00
par.
1,000 00
II
1,000 00
1,000 00
500 00
1
500 00
11
- 500.00 ^1.7-12
500 00
2| '
500 00
21
740,000 00
20,000 00
1.60
10,000 00 - par.
5,000 do
2
' 15,000 OO
l.M'6|
25O,'0OO 00
2.03
2.17
^250,000 OO
250,000 00
2.28
250,000 00
2.40
4-,0OO 00
I
"5,000 00
^
•50,000 OO
2.85
_ 50,000 00
2.75
25,000 00
2.70
25,000 00
2.65
25,000 00
2.40
25,000 00
2
" 200 00
3
10,000 00

[1848.

REPORTS OF THE

328

M—Continued.—Rejected Bids.
Name.
Jeremiah Goodwin
Do. .
A. N. Gifford for John D. Forrest.
John S. Gittings . ; . ' . .
•
Do.
Do.
...^v......
Do.
.........
Do.
Do.
;
E. W . H e w i t t ; . ; . ; . . . . . . .
John W . Hunt-.,'.
-..,
S. Henshaw. :'....•.
;
Do. . . . . . . . . . . . . . .
Do. . . : . . , .
Luke Hitchcock. ;•
Samuel Ha;rris, jr. :
Do.
'.......
Daniel Haddock, j r . . . . . . .
Do:
'
'......
Do. ,
.:....
Thomas. H i g g i n s ; . . . . . . . .
Cheney Howe...'
Do. • , . ' , . .
'.
A. G. Hammersly..
E. Hewitt;..
,.:..-.,'.
•R. C. H o o p e r . ; . . . . . . . . . . .
Samuel Houston..
•. . :
John Haseltine
Do. , • ' . .
Dp. ^ V . . . . , . . ; .
H. Haberman...........
Elijah Hise
.•.
."
Thomas Holmes,
Milton Humphrey
Do.
'
.......
- Do. , ..
John P. Hamilton..
Do.
.......
Do.
Do.

,

1..'.:...

Ralph C Johnson
George Jones.
W . Jarvis
R. C; Johnsqri.....
..
Felix Irigolsby.
Peter Shrie.
John E. Kendall;
M. Kopman..'
E . T . Kendall
E . J . King.
.,.
Do.
.....,;.'......
W . H. Keeler..............
La Benoist-;cfe Cb.'.r.
; Dq.
...'.;..:
Daniel W . Ladd..,
W . S. Lower'..
:......
Ludlow, Beebee & Co. . . ,
George Langdon.
Do.
Do./
........
Do. .
Do.
Do.
.........
Do.



Amount.
$10,000/00
10,000 00
,5,000^00
25,000 00
25,000 00.
25,000 do
25,000 00
50,000 OO
50,000 00- - 5,000 00
100,000 00'
100,000 00
100,000 00
100,0,00 .00
50,000 00
70,00.0 00
. 30,000 00

,. 5,000 do
5,000 00
10,000 00'
. 3,000 00

1,000 00
2,000 00

• 10,000 00
5,00000
15,000 00
10,QOd 00
5,000 00
, 10,000 00
5,000.00
3,000 00
8,000 00
' . .3,000 0 0 -

2,000 do
2,000 Oo
. . 2,000 00

Rate per
cent.

.2
2.91
2.55,
-2.26
2.02
2.76'
2.55
2|' .1
0.26
0.52
,0.77
2

11 •
2-1 .

ik
Par.
2
li^
.21:
2 ,
2

.21

1

2
2.391
. 100,000 op
100,000 00- .2.631
;2.89i
100,000 00
100,0.00 00 '
3.011
. 5,O0d 00
1:05
18,000 00
.2 •
25,O0d OO
Par.
^25',0OOOa
1.55
'.5,000 00
I
2,000 00 (
2
20,000 00
2.76
.. \ 200 00
2
20,000 00
3.01 •
5,000 Od. . 1:51
10,000 do
-0.76.10,000 ,00
I
, -20,000 00
2.03
125,000 00'
2.55
2,000 00
. 1*55
.6,000 00
1.59
.500,000 00
\ 2.77.
1,000'00
2.64
1,000 00
2.53
1,000 00
1,00000
i.7;7
. 1,000 00
1.05
r,ooo-.oo
1.77
1,000 00
0.53

1848.]

329

SECRETARY OF THE TREASURY.
M:^C.ontinued.—Rejected. Bids.
'Name.

George Langdon.
,
Do.
./...
:/
Do. .
......................:.:'.
..,:.
La Benoist^& Co. .. -.
^ . i . . . '.^..
.,.!
Samuel R. Langdon
:.
,
Do.
^
..........:....
" Do.
.
:....
Do.
..:.....
i
Do, ' '
'............;........;.....:...:'.:.:
DQ. . ; ' : . . . . . . : . . : : . . i ; . . . ; . . . :
Joseph Lawrence ...'.
;,.;...;
;
Jacob Little & Co.
'
..-•......'.............
Do.
...
v...i.::...........;
" <Do.
. - \.:
......:....,.^...:.......
Dd. ' - / ' . :
;...:
...,.;....•;..:..
Do.
:
.;
....;.:...,;...:......
Do.
..\.................
E. D. Morgan.,.*.....'
...........t
:...'..
R. W> Meade ..'..:
-.. i.' \
.-...; . . ; . '

Do.

:..:

................:....

Do.
....;..
..........:....:....:
Do./
:...;....................
Do.
................^..
.......,....:::
Do.
*...
M. Martin.:
;
..;"........-..'..
E . M i m s . . . . . . ;.y..;.

...... :••:.....'.'..............,

W.' R.- Morgan . / . - . . . . . . i,
-.'.'...'..'.-..-.:..,..:.....;.....-,
W . L. Marcy .forlndian trust fund.
'....;.
J. E. Millard.
l)o;
. . . . . . . . . . . . . . . ; . . . . . . : . . . : ; . . . . . .^
'
Do.
. . . : . . . . . . ;...'...;,
.Do.
.:,.•../;.-.......;.:........
:..;:'...'....-.
John W . Maury.
,

Do. .
:
..r................'....
Do. , . .:.......
.........:....
;..
^Do. ' :
./.........:........;.::.;..

John J. M c C a h e n . . . . . . . . . . ' . . . . . . . . . . . ' . . ' ; ' . . ' . . . ; ;
Do.
. ;..
.:
.:
:.:..
T. D. Nauerede.:.
. . . . .\ . . . . . . . . . . . . . . .
T. & B. Nye ; . . . . . . . . . . . . . ; . . . . . : . . . . . . . . :
A. B. Neilson for Mutual Insurance Company, New York..
D. P. Noyes. ^.
. ; . . . C..
. , . . . . / .,';
Joseph Pugh... J...-..-.
- . . . ; ' . . . . . ' . . . . . ; 1 . . . . J.
G..& T. Parker. /
.'.•...;
.;..
L.-B. Peck.
.'.'
Do.
.;../.;..
'
:
Do; , l i . . . : i . : . / . . . . . . . . . . . . . . . . . r . . . . . . . : , . . . . .
F. H . Pessoon. .i .:.
:
..;
'..............
Do.
..:i/.....,.[......./.:../:..
Do.
::
-;..;..;
Do; . . . . . . . . . . . . . . . i
^...:..:.:...'./.i.

Do.
Do.
Do.

..;.
.;...-......:..
:....:.^.v
..........::.
:.:....::..........:,
,.r..
;.
:...:.:.:

G. & T. Paiker.. / :
...:............
Charles Porter....'.;. .-...K
.'. ..\ .
'.:...............;..:
W . .Parmenter:".""... .\ . . . . . . . ; . / . . . . .
. . ; . . . . -.;...-'...
Giles W . Po.rter....'..'...,;.
'.................-;
George E. Payne../'
.....;. ^ ..^......
.-:......
Stephen Poulterer.
.'/.'.'.-.;....'........;.'.'.-...
c J. P e r k i n s . . . . ' . ' . ' / . / . . . . . . . . . . . . . ' . . . . . . ' . . . . . ! . . . . ' . . . . . . . . ,
J. P. Pepper;...'../'.
........'...:..'...'.
.\ .
M. Periffor Seamens' Saving' Bank, .New York
-..:.
Samuel P r e n t i s . . . ; . . . ' ; . . . .
"
'....-.



Amount.
$1,000 00
1,000''00^
1,000- 00
50,000 00
1,000^00
1,000 00

•

I,dod 00

1,000 '00
.1,000 00
' 5,000 oo:
' id,o00 00'
500,000 00'
100,000 00
100,000 00
100,000 00
ioo,d"0o ,00.
100,000 ^00
5O',00O 00
10,000.00
10,000'do
10,000 00
- 10,000- 00^
I0;ooo 00
10,000 00
5,000 00
1,000 00
50,000 00
• 150/000 00
.-^ 8,000/00
4,000 004,000 do
4,000-00~
'. 25,000 do
25,000 00
25-,000 00
25,O0d 00
I0O,OOO-'"0O
io,do0 do:
3,000 do
,15,000 00.
10,0,000 00
5,000-00
• ' 300 00
'50,000 00,
1,000 00
• 1,OOO'OO ]
I;O00'OO
•3,000 00
3,000 00
3,000 00^
3,000 00
20,000 00
'50,000.00
50,000 00 •
50',dO0 00
50,000 00
•' 2,000 00
6,000-00
3,500 00
10,000 00.
1,000 00
20,000 00 50,000 00
2,000 00

Rate per
cent.
2
1.39
0.55

i
2.27
2.13
2.01
1.56
1.29
1.70
0.76
1.56'
1.83
1.93
2^03
2.14
2.27

Ih
. li
2
2|
2i
•2i •• 2

•

2.68
3.01
3

2i
2i .,
2
1.25
2.30
2.55
2.80
0.27
, 0:54
2.80
2k11
•3.01
2.80

I
1 1-5

n
u
u

2:55
1.65
2k

U
3
1
3
U

ll

REPORTS OF THE

330

[1848.

M^—Continued.^^—Rejected' Bids.

Samuel Prentis.
Do.
Do.

:
..;...

......;..

••...;..,.;....:.;..,/:.......':....

, Mv Roxman . . .•..,...;.
Samuel K. Remick".;
Charles Reed'.v.l ^/,.

Do.

.'.

,.
.-'..

..:..........:........:.y..\...\:

Do.,
Do.
.Vv
.....;:..
:...-.
George W . Riggs for;self and;Lawrence Riggs.
Evan Roger's...........\.-...............'..'..?..'...
'
Do. . :-......;..
.;.;.;;..::..v......
Do.
Do.
.:.
\....
:..:
.,;.
John S. Riddle.:.....'.
,.
;........
William -Ryan;...-........ .vc....-...:..............
Thomas Reed..,..-.:........,.,..,,..., / . . . . . . . . . . .
Daniel Reirnipk....;,. . . . . . . . ' . . . . . . . . • . ; • . . . . . . . . . .
John Rutherford.........../...:".
;.....
-Evan Rogers
-..":. : . ' . . . . . ' . . . . ; . ' . ' . .
Do.
-,..v........;..:!
/...;..
Do.

•;/

$I-,O0O 00
1,000 00.
1,000'00
.200 00
' 3,000 00
2,000 00
2,000 00
1,000 00
1,000 00
600,000 do
^iOdo'oo
•5,0daod
-^ 5,000 00
5,000 00
100,000 od
^300 00
10,000 00.
. .2,000 do^
/ '2,000 do
5,000 00 '
.5,000 00
/

;..........•.....:.::•........

5:,ooo.oo

s Thomas Reed. •.••.
.-...;.........''..":..
Do.
....../.,;..........
James Ridrdan
! . , . . . . . . ^ . ; . . . .^ . . .
William Reynolds..-.
/..
Edward A. Raymond,. .^ . . : . ; . / , . . . . . . . . . . . . . ; . ' .

,Do.

\

^

-.,Do:

• •

Do. ^ ", ,.\:.

:.....;.

" R. Sprague ...."•..,..'...... .r
W . L. Schafier..;.......:..{
;.'..'.....-...:.
J. Silver..
................;
Do.
..:...:.
. Do: . . . . ./......:.,
......'............:.........

,•........

Do. . ; ; . : . . . . ; .
:....;...;.:
J. R. St. John.
.....^.......
Do
:..............
Do.
....,,..
..............:..:..
John Spring ..'
Do. [ . . . , . . . , .
;..
James Shields. •.-•..,.........:,...
.-.'...
Joseph Swift......'
.......'
Do.
.;..:.....;........:.
Do.

.

;..

-^ f,O0O 00"
:. 990 00'
^ 30,000
' 60,000
' 5,0do
260,000
267,000
-.'4,000
25,000
10,'0dO

;,.

Daniel Smith.,..


r:....^.

00
00
op
00
00
00
00'
OO

11-5

u
H
•2

1
1:63
1.51
11-16 1
' 2.'78
2.

li

I-^
1^83
3
2.27
I .
'li .
I '
2.02
1.77
I
2.55
1.52
2.07
1.02
2.51
1
3
2-55
. 2.80

1;76
2.52
50,000.00- . 2.63
' •. 300 00
1|
'•2,000 00
1^
(3,000-00,
3"
50,000 00.

:..:.:.,.....:.:.......:..:.....

John,F. S t i l t z . . . . . . . . . . . . . . . . . . . . . . . . ' . : : . . . . . : . / , .
F . A . Schmle.tz-./;..''....
•.....•./..
;.
Richard Smith for John B: Helni; i.'....';
: ArthurSlewart...,,.'.;-.': . . . . . . : . . . • . . . " . . / . . . . . . . . . .
..John Southgale.
A. S:chumaoher... r;
I.

Do.

15,000 00
25,000 00
- 1,000 00
io;00O-oo'
2,000 00

...:.-......j^......:.:..:

Henry.Rogers . . . . . . \ . . . . . . . ; ; . . . . . . . . . . ; . . . .
' Rosengailin •& Denis
W . M. Stewart,;and W., D i c k . . . . ' . . ; . .
' Lemuel Sawyer..-........;...-:.....;;.....'....'..
Richard Sniith
..:,....,..,..'......... i
Do.\ ;..'......
....;;...y............
'E.. Sprague ............,
,
/.-:..'.
James S. Smitli. 1 . . . . . . . . ; . . ' . . . . . . ' . . . . . . . . . . ' . .
A.. Smith..'............'...,.;;
.....!.'. ".•
Richa:rd Schell . . . 1 .
,

I Rate per |
cent.

Amount.

Name.

l l , O 0 0 00.
10-000 00
25,000 00
.25;OOO0O
' 3,000 00
100,000 00
1,000 00

'1*30'J

1.55 '
2 1-5
'1

1.55

1,000" 00.
-

i;,o0o 00 •

^ 1,000 00
' I-;O0O 00
iO0,doo 00
IOO;,O00:OO'
ioo-,000 00

5,000 00
5,0d0 00
10,000 00
- 2O,00P 00
. 2O-,O0O 00
15,000 00
. 3,000 00

I
2.63
2151
2.26
" 2:50
i:.30
.21:.
2.26
2:06

1848.]:

^ SECRETARY OF THE TREASURY.

331

• , M^—Continued.—-Rejected Bids.
-. Name.James Sriiith....... .\..........:..'
.*....
Ja.mes Tag^ent...:;..,.;
: . . . . . . . . .^......
J. E. Thompson . . : . . . / . . . : . . . . . . . ' .
.....
'E.'F.Thbde.'^...';. .v.... ....V.::./........./. ..-.^...-.^...;./....
S. Thompson..-..^^...^.;..,..!;.-............:..-.,. ;,.\ ...........'..,.,.-.
George Thomasv"......'.•...... .\...^..;.........-."...... ..>,. '•..
S'. Toby forll/e Ihsuranc'e Company of^Peh'ris-ylvariia'.

$10,000
500
12,000
• 2,500
'125,000

S.ariiuel Winchester.
D . D . Wagener
W . , H . Williams..:.,:./ .• . . . ' . . . . . ; . . . .•.'
, .' Dol '. ^'••' . . - . . : . . v . . . . . : . . . ; ; . . . . i : . . . . . . . . . . . . . . . - . . . ' . ' . . , .

George B . ' W a r r e n . . . . . '.... .^...-........:./.,..,.-..;.....
:.-Do.' . ^ '^ ..,'.•:'..//.-.;...,....-^I'r...'./.....:...
•''• .Do. ••; :.: •.:.;....../;.:.'-4-:^..w.'.--,..'.-::..';.v
WirisloW-'& Perkins.;,..:.:..:;;'. ;•...-.'... •.<. 'Z-^. ..i.. i.. ..'.;.'v,....

\ Do-../: fi^ ^•.,......^:/........,.U..:,./..fi...

Do.
....;...,.,....:..
..
George H. Williams..
:
>.
Do. • ^ .....;
....::.........../..
: Do. / ,v
;..:..-..-....w/;....;.v.............^....
.' '• • . . • . • . ' ^ . , . . \ : . . . . . : . ^ ; : . " . ; . v . ' . . / . . ' . :

;".Do:;;- ••• • ,.../..=...v/.,..a..^:......:-.'..../...'v.

H . Whittiil.;. ;.r.'.......'..^...:.^.. / . ....:/....^.:...:.;
Jeriemiah H. Wilkins'..'....-..':..-.'.;.:......-..'.,'.,.-:.-..;..% .
Josiah Wallace'..'....
* . . . . , . ' . . . . . . . . .V..'./; .•.'...'..:,
G-eorge K. Womratli
S. Wright.'
...'.,
...'......,....
Andrew Wade-......,.\....-..;._.-..-..-. ..'.. . . . . . . . ..'
A. W.. Walker. ..^..;.................... ....^.,:/. / . , . . . ,
'
John Walsh . ' . . .
':. •...':...'.':... .-/.i. .';.-\''.-,v.-.-..-...
Eli White-..:-. ..•.'. V..:. /.'..;...-..... .;•. .L.!,:...!.../..../.,,....;

fi'Dfi- / ..•.;. .;..'... ..•.:.^: : .J^:/,:... .../....;..!. . .
/[ :'DO; fifififi.[Vfififi.'.fi^^^^

''' Do.' ! ! ! ! ' ! ! ! ! ! ! ! ! ! ! ! ! : ' * ! * > ! ! ! ! , ! ! ! ' ! ! ! ! ! ^ ! ! ! !
. Washington Yale ; .
....<................
William .Young /.,'..'...,-,-.....,... • ' . ; . . . . . ••.
/'!•.,. *
'• ' •'' ' -Atotal ./.;/:/.',>/.r.."i-.:./...v.v.:...".'/.'.l:

00
00
00
00
00'

'20;OOO 00
-,. • 2,400 00
'6jO00.O0

J : s.^"Underhiu;;'.,;... . / I . : . /. . 1 . . . : . • . ..i,: //.<.;.,..;.

- ;DO.• •

Rate per
cent.

Amount.

, .'6,000 00
• f 5;OO0 005,O0O 00

l'5-IO

.1

.2-"'2:80
2

I
li

. 2
.21

1-^
. 2.80
2.55
5O',O0a 00 •
0.35
-20,000 .00
0.51
.. 20,000 00
. 0.75
•: 10,00a 00
^2.77
.1,500,000 00
' .50,000 00 -, 2.76
2.91
'• 50,000 00
^20-,o0o do .. 2.90
.- 2.76 ,
20,000 00
'20,000 00 / 2.45
.
2.15
20,000 00
20,dd0 00 ; 2.01
214
. ^ 50-,OOO 00
3
2,000'00
.. -7,000 00
2k
•••
1,000 00
2"
10,000^00
2i
,1
32,000 00
50,000 00 ^ 2 9-16:
2
, 3^500-00
25,000 00
''5,000:00
2i-5,000 00 ^ 2h
• 5,000 00
2i .
5,000 00
•2i
3
5,000 00
2,000 00
,5,000 00
'

30,000 00

•n

$12,459,440 00

RECAPITULATION.

Amount of bids at p a r . . . . .
Amount of bids above par.

. •-: $54,000
. 30,339,890
$34,393,890

At anraverage premium of 3:045,




N.
Statement exhibiting the Popidation ofi the United States, the Public Debt,, the receipts firom Loans and. Treasury Notes, the
Receipts, exclusive ofi Treasury Notes and Loans, and the payments on. account ofi' the Debt each year, firom 1791 to. September,
1848, inclusive.
'•'
•
. - . .
...
, '-.
" ' ' . / • . , . , - / • '
'
-' ^ ' " ^
Year.

Census of 1 7 9 0 . . .
1791...
1792...
179.3...
1794...
I795v..
. 1796...
1797...
1798...
1.799...
Census of 1 8 0 0 : . .
- 1801...
1802...
1803....
• 1804...
1805...
1806...
' 18d.7...
1808...
1809...
Census of . 1 8 1 0 . : .
1811...
1812;..
181'3...
1814...
1815...
1816...
1817...
1818..-.




Population.

3,929.328.
4,06.7,3714,20.5,414
4,^343,457
• 4/48-1,500
4,619,543
- 4,757,'586'
4,895,629
• 5;033;672
5,171,715
.5,309;758
o 5;502,772
5,695,787
5,888,801
6,08r,8166,274,830
6,'467,845.
. 6,660,859
-6,853,874^
•7,046,888
7,239,903
7,479,729.
7,719,555
. 7,959,381
8,I99;208
' 8,439,034
8,678,860>
8,918,687

^ 7,158,513

Debt,'

$75,463,476 52
77,227,924-"66
80,352,634'04
-78,427-,404 .7-7
'80,747,587.39
^.83,762,172 07
82,0^4,479 33
.. 79.^,228,529 1 2
78,408j669 77 ^
- 82,976,2^4 35
•83,038,050 80 "
' 80,712,632.55
.77,054,686 30
- 86,427^120 88
; 82,312,150 50
.'75^723,270 66:
. ^69,218,398 64
' .65;196,'3-1.7 97
57;023,192 09
5.3,^173j2i7:52
• •48,;005,587'7.6:
-45,209,737:9055,962,827 57
81,487,846.-24
• 99,83^,660 15.'
127,334,933 74
' 123,491,965 16
103,466,633 8 3 .

Receipt from loa'ns Revenue,- exclusive
Principal and-intei> Present debt, inclu. .arid 1 t r e a s u r y c ofloans and Trea'" est of debt paid. • ding the- amount
s u r y notes.
'authorized b y l a w .

$5,791,112-56 .
5,070;8O6 46
• 1,067,701 14
4,609,196 78-- 3,305,268-2(i

.362,800:00-70,135. 41
• 308,574 27
5,074,646:5'3..
1,602,435-04
- -10,125"^00
;.5,597 36
'"•*/9-532'64*
• 1^8,814 94
. .' .48^,897 71
-''**," 1^^82/16*
^'2*v750',992'25^*
- -:.8,^09 0 5 '
'12,837,900 00
' 26;i84,'435-00
23,377-;911 7 0
.35,264,320 78
9,494,436 16,
, •734,542^59
8,765 62^

$4,418,913 1 9
•r 3,669,960 31
4,652,923 14
5,431,904 87
' 6,114,534 5.9
8,37^529 65
8,6'88,780 99
• 7,900,495 80
. 7,546,813 31 '
. 10,848,7'49 1 0
-12,935,330 95 •
"14,995,793 95
11,064,097 63
,11,826,307 38
13,560,693'20,
15,559,931 07 .
'16,398,019-26
17,060,661 93
7,773,473:12
" 9,3.84,214 2 8 . '
14,4^3,^529 09
9,801,132 76 •
14,34O,4'0.9'95:
H,181,625 16
15^,696,916 '82 ^'
'47,67.6,985^66.
33,099,049-7"4-:
21,585,171-04

$5,287,949-50
7,263,665- 99
5,819,505 29
. 5^,801,578 09
-6,084,411.61.
5,835,-846 44
5,792;,421.823,990,294' 14
4,596,876 78
4,578,369 95
7,291,707 04
9,539,004 76
7,256,159 43
8,171,787^-4'5''
7,369,889 79
. 8,989,884^61^
: 6/307,720 10
10,260,245 35
'^6,452,554 16
;8;0O8,904 46.
.' 8/009,204 0 5 '
. .4,449,622 .45
11,108,123 44,
-7,900,543 94
:I2,628,922 35
24,871,062 93 .
^25,423,036 12.
21,296,201:62

0-)
CO
«>0

1819
, /9,398,339 '
.. 9,638,166
Census of 1820
1821
,..>.•...,....:.. -•9,959,965 .
10/281,765
1822
1823....
;......;.. .10,603,565 '
10,925,365
1824
-..
Il,'247,165
1825
lI-;568,965
1826..
ir,890,765
, .. - 1827...•.-.'.•../?...-..•.....12,212,565
1828 ............-./."..
1-2,534,365
1829\.•...-..
:../
12,856,165
Census of 1830
.,.\'.
-."..,.
. 1831....... v..\........:. 13,277,415
13,698,665-'
1832...
....:....;
14,119,915
1833...'..-.
14,541,165
1834
:..
1835
-;>
..v..14,962,415
15,383,665
1836....:
:.....
15,804,915 >i837..-.......:
.....
. 16;226,165 '
1838.:....
16,647,415
1839
-.
.' ,:'..^
.17,068,666.
Census of 1840
17,560,082
i84i:.........:.r..:....
l'842.
....:... .18,051,499 •"
June^-30, 184.3......:.. .:....• :. I8',542,91519,0'34,332 .
1844
19,525,749 •
1845.
...•:'...
20,017,165."
. (. 1846.^.
20,508,582
1847
.....:.:.......
21,000,000
: 1848.
........./...
Q^uarter ending September 30,1848...-.

95,529,648 28
91,015,566 15
89,987,427 66
-93,546,676 98
90,875,877:28
90,269/777 77
83,788,432'71'
81',054v059 9-9
73,987,357 20
67,475,043'87:
58,421,413 67:48,565,406-.5O
•-3'9,123,191-68
•24,322,235 187,001,032 88.

2,291 00
3,040,824 13
5,000;324. 00

28,900,765 ^36
.2I,25"6,70O:od10,127,200 00

24,603,374 37,17,840,669 55
14,573,379 7220,232,427 94
20,540,666'26
19,381,212 79
21,840,858 02
25,260,434.21.
. 22,066,363.96.
24,763,629 23
:24,827,627 38'
24,844,116 51
28,526,820 82'
3.1,865,56M6
:33,948,426 25
21,791,935^55
' •35,430.0'8-7 10
50,826,736 ,08
"24,890,864 69 •
26,302,561 74
• 30;O23,966 6 8 I9,442;646 08"
. 16,860,160 27.
19,965,009 25
8,'23I,001.26.
29,320,707-78
29:,94I-,853 90
•29,609,96'7; 74
26,346,790 37
:35',436,750 59
9i607,914.:82

2i',822_*9:i'
'5,605,720 27
l l , n 7 , 9 8 7 . 42^
- 4,086,613 -70.
5,60O,689-74•8,575,539 94
861,596^55
12,991,902 84
8,595,039 10
r,213,823 n
. 6-,719,282 37.
15,429,197 21'
^ ^3,451,000'20

284,520,187 .82

.1,136,148,530 01

,500,138,719 49

5,000,000 00
5,000,000 00

4,760,082 08

351,289 05
291,089'051,878/223 •55
.^4,857,660 46
11,983.737:53
'5,1^5,077 63
-. 6.,737,.398 00
15,028-486 37
27,203,450 69
24,748,188 '23
, 17,093,794 80
16,750,926 33
38,9,56,623 38
48,526,379 37 •
*65,778,450 -41

2,992,9.89 15
12,716,820 86
,3v857,276"2I
5,589,547 51.
13,659,317 38
r4i80a,:735 .64
12,551,409 -19
• ^I,877,847 95

Amount of money-deposi te'd with the States, per act June 23, 1836,'. was

;.'.

7,703,926 29
- 8,628,494 28
a,36.7.,093 62
. 7,848,949 12^
' 5,530,016 41
16,568,393.76
12,095,344 78
11,041,082 19'
•r0,dO3,668 39
12,163,438 07
12,383,867 78.
11,355,748"22.
16,174,378 22
tI7,84O,30B 29
1,'543,543 38
6,176,565 19
58,191 28

*65,778,45J) 41

$28,101,644 91

*This includes the whole debt negotiated or authorized,' to .which may be adde'd about $26,000 Mexican indemnit.y and bounty scrip,
tincludes $13,296,247 three per cents, paid off at par.
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TREASURY DEPARTMENT, REGISTER'S OFFICE^ Decemher 4, 1848,




DANIEL GRAHAM, Register.

CO

O.—Statement ofi the Public Debt on the 1st ofi October, 1848.
Denomination,of debt.

Rate of interest. When redeemable.

Principal and interest of the old funded and.unfunded debt; Treasury .notes of
1812i and Mississippi or Yazoo.'scrip
:..•.;.....'. v ..,. . . . • . . . . . 'i'.l.......... ."
Debt of the corporate cities of the District :0f Columbia, assumed per act of the
20th -May, 1836.
............*..;....;....-........';
/.....:.'.-..... 3 per'cent:
Outstanding Treasury notes of the issue of 1837 and-1843, may be funded or paid.
Stock issued for notes of 1837 to 1843, per act of January =28 j 1847.:....'... ..-.-.v 6-per 'Cent..
Loan of-April 15, 1842.: .•
^
;..-;.•
'.• : 6 per cent.:
Loan of. March 3, 1843
..;...,...........i .*..\- 5-per cent..
Loan of July 22, 1846
..'..•... / . . . . . . ; . . . . . ..i^-.
.-.. ,."..-:......,•./.•..':. 6 per cerit:.-.
Loan ofJanuary 28, 1847, induding outstanding. Treasury no.tes, and-'nbtes td be
issued under that act and exclusive of the.amountof stockissued :under that act
for riotes issued prior to 1,846..........'..'.'.%.... • ..7... - . . . . . . . ._.> , . ; . . ' . " 6 percent.,.
Stock issued, per act of Aug'ust 9, 1846,' inpayment-of the 4th arid 5thVinstailmerits'
of the Mexican i n d e m n i t y . . . - . . . . . . . . . . - . . . ; . . . ' . ' . . . . ; . . . . . . . . . . . /.
5 per' cent.,
Milita:ry .bounty scrip, per act of February-11 j:l847.; .v
,..........-./......:". • 6 per cent..
Loan of Ma'rch^31,1848, including the ambuht.to.be paid in after tlfe 1st of'Octo' ber, 1 8 4 8 . . . ; . . ' . ' . . . . . . : . . . . . V i . . . . . . . . . . . . .•...:;.:;
fi.../.
... .6 "jper cent.

Amount of each
debt or loan.

On presentation...

$127,824 68

$6,000 per arinum.
On preseritation"...
•January 1,1868.-;.
Jariuary 1,1863...
July- -a-,; 1853...

1,020,000 00
-167,389 31
' 128,728 00
85279,386 03
6,604,231 35

Nov'ber 12," 1856..

4,999,149 45

.Jariuarya,18B8.,. .'

28,000,850 55

Total.

$16,327,559 37

^August.9,"185l;....
.Atthe pleasure'of
* Goveriiment....
/Jilly 1^1868..:...-

- .303,391 04
'147,500.00
16,000,000 00
' 49,450,891 04
*65,778,4'50 41

A.r^Amount of debt incurred since March 4;,-1545, broughfcd6.wri.'.'.'...-.
'..
Ampunt of debt on 4th March, 1845, per sta.tement which accompanied the finance
. report of Deceniber, 1846*;"........ ..•.. vi: V:\v.,.;...... . ; / V . . C.-.-...:... .•.-;....
Erom this ariioiirit deduct'$46-,50O of 6 per c^rit.of 1842 canceled, per-^2d sectiori
ofthe a a df June 27, 18467/.-;.;°...,..;....;-.;::........ ..,,•;.:/.-, v . . . . . . . . . . . . .
And fiieairiburit unpaid", as abbve,^ of- the debt of'March 4, 1845 .":; i..'...,...:;.'.

49,450,891 04
•17,788,799 62
, $46,500 00^
16,327,559 37

: 16,374,059.37'
'1,414^740 25-

Leaves, j^-ie actual iricfease^Of debt since March 4,, 1 8 4 5 . . .

48;0B6,150 79

*This includes the'whole amourit ne'goti'a-ted and authorized, to which may beaddSd Eiboiit j IjOOO for Mexican indemnity of bounty scrfp.
TRB^B.URY DEPARTMENT, REGISTER'S OFFICE, Z)ece?n6er"4, 1848:




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. DANIEL GRAHAM, iiJ.egis«er.

.CX)

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1848.]

335.

SECRETARY OF T H E TREASURY.

Table exhibiting the aggregate ofi the areas ofi.'the twelve.land States', and the
areas ofi the Territories ofi the United States containing public lands.
Totals.
Square
miles.

Acres.
Sq. miles.

Newly-acquired Territories, to wit:
Oregon
'
California.'...,.
New Mexico.
..-. /
T e x a s . . . . . . . . . . . . . . . . . . .1
Making, including Texas

341,463
448,691
•77,.387
225,520

218,536,320
287,162,24'0
' 49,527,680
208,332,800

Twelve States containing public laiids..... 613,405 392,579,200
Former Territories east ofthe Rocky Mountains
994,435 636,438,400
Total of S.tates and former Territories....
'States and Territories.

1,193,061

763,559,040

1,607,840

1,029,017,600

2,800,901

1,792,576,640

Deduct Texas, which contains no public
lands
-•
325,520 2O8,33'2,'80O
Also the quantity sold up to 30th September, 1848
....:.-............,
142,026,003
Balance is public- domain, September
30,1848............-.,...,,.........-,;

350,358,803
1,442,217,837

GENERAL LAND OFFICE, Decemher.-8, 1848.'

RICHARD, M. YOUNG, Commissioner..
Hon. ROB HRT J. WALKER,- Secretary of the Treasiiry.

MiNT OF THE UNITED STATES, PHILADELPHIA, D.ecember -4,1848.

Sm: In reply to-the inquiries hiade in your letter of the'28th ult., I have the honor to present
thefollowing statenient regarding the deposites and coinage'at tKe mint at Philadelphia, from
t h e l s t o f March,. 1845, to the-SOth of November, 1848:
...
1. Bulhon and plate deposited by individuals and banks, including all persons holding no
• : official station.
:.. .:^
...
...:,..... $2,426,830
2. Foreign coin recoined at the mint, deposited in the same manner..
10,228,682
3. Amount in valu.e d'eposited by officers Of the Governnient without transfer
8,513,181
4. Amount coined under-transfers made by thfe Government to the m i n t . . . . . . . . . . . 2,950,000
5. Amount in copper coins.
,.
197,716
6. Total coinage at this mint during-the period i n ' q u e s t i o n . . . . . . . . . . . . . . . ' . . . - . . . . . .$24,019,781

i

Very respectfully, yo.ur faithful servantj
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To Hon. R. J. WALKER, Secretary of the Treasury.,,




R. m . -PATTERSON, Director.

336

R E P O R T S OF T H E

[1848.

R.
"^ xAssiSTANT TREASURER'S OFFICE, December d', 1848.
SIR : In compliance with.your request, under date of 2d instant, 1 have
caused the books in this office to be examined ; from whiph it appears'
that there has-been received in\coin, from the 1st of January, 1847, to
the 30th of November, 1848, both days included, the sumof $57,328,369;
and, the coin disbursed during the same time is $55,496^269.
It is proper to remark, that the time allotted tb the examination was
short, and some error may have been made ; but I believe the-foregoing
statement to be correct.
->
Your obedient servant,
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^ / ' ;.,'/ . ' . ; /-^ WM. c . ^ B o u ' C K , ; . . • ;
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Assistant Treasurer.
• Hon:

R. J: WALKEII,'

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Secretary ofi the Treasii/ry

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TREASURY DEPARTMENTJ Aiiril 17, 1848.
Sealed proposals will be received, under the act- of 31st March last,
until 3 p. m-. on Saturday,, the 17thof iune, 184.8,, for'sixteen milHons of
dollars of United States stock, reimbursable twent)^ years from'and after
the first day of Jiily, 1848, bearing. 6 'per cent, iriterest'per anhuiii,.pa.y^
able semi-annually, on the first days of January and July of each year.
No bid will be received below par; nor will any bid be considered
unless one per cent, thereof is deposited in some depository of theUnited
States, at or before the date fixed for opening the proposals. The bids,
in all cases, must be unconditional,'and without any reference to the
bids of others, and should state distinct!)^ the premium offered.
The proposals should be sealed, and endorsed ^' Proposals fbr a loan
of 1848,." and addressed to the Secretary ofthe Treasury, Washington,
B . C. The sums which may be accepted will be required -to be paid
to the depositary ofthe United States nearest the places of residence of
the. persons respectively whose offers may be successful; but the aniount
of the accepted bids from bidders not residing in the United States must
be deposited with the assistant treasurers at New York, Boston, Philadelphia, or New Orleans.
To.give an opportunity td all persons to .participate, in the investment
of funds in this stock, bids will be received for the lowest denomination of certificates authorized by law, (being for fifty dollars,) as well as
for higher sums.
All certificates under one thousand dollars will be transferable on the



1848.]

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

337

books of the Treasury.; but all certificates for that sum, and upwards
will be transferable on, the books of the Treasury, .or by delivery, with
ooupons attached, at the option of the/bidder. To avoid expense, confusion, .and multiplicaiioii' of/aceolints,, all .certificates 'witji coupons
attached will be/for :th^^^
of one thousand dollar.s,/ '
. The .^successful bidders '. will, be required ".to -deposite _ the ariiount
awarded iil' five .equal installftients,'-iri-each" pf the .mo.nths of :Ju.ly,
August, SeptemberV October/an
of the, present year, except
for sums not exceeding twenty thousand dollars,, where the bidder may
be desirous of .making imm^ediate pa5^ment,-in which ease lhe whole
.amount may b^ at once depasited. / The stock will/bea^^^ interest, in all
Cases, frohi'the. 4ato,of depos^
..Tie bids'will be ppened at the Treas^
ury Department" at 3 p. in.- ori • Saturday?.the l^^th June,. 1848,, in the
pjeserice pf all persons who may,desire to attenci; but,.urider ;a provision intrpduced irito the^a^^^ of 31st March last,-m
will be permitted to- withdraw; his/bid. . O.n ;ali bids, not .accepted;,, the arnount
deposited iri .advance .will be iiiirhediately/returhed'/' The -whole premium'on the ariiount awarded must be.deposited as part of thefirst
payment required in July next*' :,. / . . - . < . . . • . . .
.'-•"-'
-;••": • •••'-' - ;•; • U ; J. •WALKER,
• ' ' - ; \: , fi-' : ./ • '..
Secretary-ofi ihe'Treasury.

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Amorat\subjVot'tO;(ifaft,,;a^
. M ^ > office to ^JfoVem^

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Also,..; amount/Subject, to' draft by .feturns Decembei: 4,, , .. , .
' i 8 4 8 . - _ «. ...^u . . - . , ' . . / - . . . ' . . - . - . , .
\ - - . . . . . . . - : - ^$3,661,746 89^

VOL* VI.—22.



W . SELDEN,
Treasurer ofi the United States^

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R E P O R T S OF T H E

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Statement ofi the Treasury. Notes which; during the year ending on" the pptkfifi
-June, 1848,,were issued'under the provisions ofi the'act bfi the 22d ofi July,
^1846, and ofi the 1st and ^Idthvseciions ofi the act ofi the-'/28th, ofi Januarij,
'' 184T].exhibiting, alsoy the amountredeemedy and the mannefimijohich they
', were redeemed/ .' ' '"'' •';'." ' .'. 'fi' •' • /
.' " ' - '•'>•'"':'.••'•" fi' fi .. ;'
The Treasury notes issued under the provisions of the act. -' ^ ' ^
• of the 22d of July^ lS46,,aniountedta^.,,. . , . . . : .$250,000 00
Treasury notes i s ^ e d milder the. pro^^^^
15th sections of .the: act of the 28th of January, .1847,
: / ' [' fi
amounted to-^;-,r.... . . ' ^ . ' ^ . ^ . ! : . ! . - . i : . / / . \ . . . I - : . / J 1-^956,950 00
the ye^ar^endingbri the •3()t;h of June,'

Amountissued
1848..:..:,

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.•:.^v..';.:::\;-,^r/.J.-?.^:::-:.: ...•'^^z 12^206,950 ^oo

The amounts redeeriied of these notes' were; as;follbws:
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V

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-.

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• ra 5210.-s ss
: S
:3 o§''-'.
_ , ^ ^^
£2

.'.:; p - ' ^ ^ .

•;;; , ^ ^ - a

..UM' , ^•
; .^-,

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rs0) ^0)

ssued
royisi
st and
)ns 0
>f - Ja
847..

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.-^f^^

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Paid for in s p e c i e . . . . . . . ; ' . . . . . . . . . i . . . . . . . ; ^ ^99,100'00
- $99,100 00
Paid for in stock.. . . i . . . . . . . . . . . . . . .
. .' '1,73'5,050,00 - J5i52*,500 QO - , 6,987,550 00
Paid in for c u s t o m s . . . . . . . . . . .•:.....-.-. .,..•..; 1,205^850. 00- 4,462,050 0,0 •• 5,667;900.00
Paid in for lands
':.
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21,000 op- . , 1,000 00 • ; 22,000^00
in payment for oth'er publi'c d u e s ; . . . . . , / , . '
;'.I21,"20() 00 ;;; 121,200 00 '
'13,061^000^0.0. $9,838,750 00'
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TREASUR.Y, DEPARTMENT,
-.
- JREGI^TER'S O F F I C E ,




$12,899,750.00

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DANIEL GRAHAM,, ife^^^er.

1848'.]

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

839

•

Statement ofi the amount advanced to JVilliam C. Bouck, Assisant Treasurer^
New York, fior the purchase ofi Treasury notes; the date ofi purchase; ofi
ivhom; the amount, and interest thereon. ^ .
Amount advanced September 28, 1848 . . . . . . . . . . . /
Purchases.
1848, September
Do.
October
Do;
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Do.
Do. .
Do,
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$800,000 00

Principal.

29, of William R.^Morgan.
. ' . . . . .- . $158,000 00
30,
do.
" do.
. . . . . ' . 217,000 00
80,000 00
2,
do.
do. . . . . . «."
3,
do.
do. ..;.>. . . i .
.s..
.40,000 00
4,
do- w
d,o,
70,000 00.
5.,
do.
do.
135,000 00
40,000 00
10,
do. ,
.-do. ,
...
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60,000 00'
11.
do..
do. . . . . . . . . ;
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^ 800,000 00'

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Interest.
$2,335 28
3,510 92
1,441 04
. 687 08
967 56
2,698 17
742 81
1,122 78
13,505 64

The amount of interest paid is included.in thegeneral account bf William- C. Bouck for paying interest on Treasury notes.
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TREASURY DEPARTMENT,

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REGISTER'S OFFICE, »Youe?7i6er 28, 1848.

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DANIEL GRAHAM, i2eg-isfe7'.

w.
The payments into the Treasury^ to. this day, on account of the loan of
$16,000;000, per act of the 31st of March, 1848, amount to.. . V . . . . . . . . . . . ^ $10,590,250 00
'TREASURY DEPARTMENT,

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REGISTERVOEFICE, Z)ecem6e?'4jl848.

DANIEL GRAHAM, Register.

X.
The specie received into the Treasury, .from all sources, from the 1st ofJanuary, 1847, to t h e - l s t of October,-1848, amounted to
^
$91,484,823 55
The disbursements in specie, from the Ist of January, 1847, to the 3Ist of Octo*
ber, 1848, amounted to.
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TREASURY DEPARTMENT,
REGISTER'S OFFICEt December 4, 1848.




DANIEL GRAHAM, Register.

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3-40^

E E P O R T S OF THE..

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[eiRCULAK TO CO.LLECTQ3I9 AND OTHER OFFICE.RS OF TKE .GUSTOMS..]:^

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T R E A S U R Y D E P A R T M E N T , - October.1, 1848.'~
^ On the 30th of M a y last, upon the exchange of ratifications of o u r
treaty with Mexico, Califorriia became a part of the American Union;;"
in consequence of which, various qnQstions have b e e n presented b y riier.ehants and collectors for the decision of this Department.
" .
B y tlie Gonstitution of t h e . U n i t e d States it is d e c l a r e d ' t h a t " a W
treaties rnade, or which shall b e na-a€le,nndei;%he authority of the U n i t e d
States, shall be-the suprerne law ofi the land..^ B y the treaty with Mexico,.
California is annexed to. this Republic, and the Constitution of the
United States is extended.over that T err itor}^, and is in full force tiirough-out its limits. Cpngress. ials,0, by several enactments subsequent to the
•ratification of the treaty, havevdistin.ctly recognized California as a part
of the Union,'and have extended over it^ in several importaht particulars,,
the laws of the United States..
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Under these circumstances, the following instructions are issued by
this Depaitment: '
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1st. All articles of the growth, produce, o-r manufac.lure of Califorriia,,
shipped therefrom at aiiyptime ^sirice th(|;30th May last,.are entitled to^
admission ftee of diity into all tlie ports of the United States.
2d. All .articles., of the growth, produce, or manufacture of the United
States are entitled to admission free of diity in;to California, as are also
all foreign, goods, which, are exempt-frbm duty by the laws of CongresSy
or on which goods the duties, prescribed-by those laws haye been paid
to any collector of the United States previous to their introduction irilo
California.
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3d. Althoughithe C.o.nstitution.of-the Uriited States,, extends t4-California, and Cprigress have recognizeGl it by l a w > as a part of the Uriion,
and legislated' for it as. such, yet it is- not brougiit; by law^vithiri the
limits of aii}^ collection district, nor has'Gongress. authorized the •appointment of any officers to collect the revenue accruing on the import of
foreign dutiable goods-into that Territory. Under, these circumstances,,
although this Department may be,m-iable to.collect the duties accruirig
on impprtations. from foreign countries into California, yet, if foreign
dutiable goods should be intrpduced thfere, and ..shipped .thence to an}?port or place of the United States, they will be subject to duty, as also
to all the penalties prescribed by law when such importation is attempted
without the payment of duties.
R. J : W A L K E R ,
. - ' Secretary, .ofi the Treasury.




SECRETARY OF THE TREASURY.

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COAST SURREY O F F I C E ,

WASHINGTON, December 5, 1848^

SIR-: In compliance with the directions contained in .your letter of
December 5th, l h a v e the honor to transmit a tabular statement of the
•extent of .shore line of the coast of the/United^ States, a^nd of the bays,,
.sounds., rivers, and islands connected with it. * . . ,
Very respectfully, yom^s, &c.
A . D . BACHE,
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.Superintendent U. S. Coast Survey.
Hon. iR. J. W A L K E R ,

Secretary qf the Treasuryo
£Maxitime front, i , 120 rQileSc]

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' ,

.' ' .
.•.

Shoreline, United States Coast Survey.
Shore line,, including bays,,
'sounds,- and
other irregu• larities of the
main shore.
.Maine. . : , « . . . . . New Hampshire,
Massachusetts ...
Rhode Island....
'Connecticut.'
New York..,.o..New Jersey......
Delaware
Maryland— ,.-i.
Pennsylvania. *..,
Virginia..-...,....
North Qaroliha.;
South Carolina..;
•Georgia.. . . < . . . .
Flprida..../... ;
Alabama. *.*....
Mississippi......,
Louisiana.-'. ..^ .Texas......
Oregon
,
California... <....

Islands.,

1,365
17
• €87
230
236
50
510
230
730

- .777
14
270
80"
33
,955
, 245
20
575

247
" 845,
205
.250
•1,943;
240
155
1,247
'940
1,171,
1,110

85
, 650
670
480/
2,1497065.
1,017
390
557
145

12,605/

9,237

Rivers: to head^
' oftide.

291
'70
121
297
153
40,
1,140
80
1,233
1,060
1,015
145
1,720'
200
280
2,306
350'
320*
390t
11,211

Total.

2,433
31
1,221
310
390
• 1,302
.908
290
2,445
80
1,549
2,564
1,890
875
5^-812
510
500
4,570
1.680
2,048
l,6i5
33,063

* Length ofthe shore line, Oregon river and ChickeleisMver to head of navigation,
t Length of shore line of river Sacramento l o head of navigation..




342

R E P O R T S OF T H E SECRETARY, &c.

[1848.

BB.
'

. '

' -

^

"

.

'

. BUREAU OF TOPPGRAPHICAL ENGINEERS,

^

WASHINGTON, December 7, 1848.

S I R : I have the honor to ackriowledge the receipt of 5^our letter ofthe.
5th, and respectfully .submit answers to the several queries therein contained.
/ .' ' \ '< •
. .
' ' .
Question 1. " T h e extent, of shore line of each of the rivers of the
'United States, as far.as navigable for steamboats of the lightest draft
'nowused, designating the extent.of shore line of each principal river'and its tributaries." . .
.
< '
• Answer. Shore line/of rivers, to head of tide water, from/Maine to
Texas. The head of tide water is assumed as the liinit of steamboat
navigation, as impeding falls or. rapids are psually encountered at that
point, above which many of our rivers, are adapted to steam navigation,
but to what extent is not suffi[ciently-~knowa:.,
. . . . ..10,501 mileSo
Shore line of rivers of T e x a s . . . . . . . . . . . . . . - ' - _ . . . . . . . . . .1,210 "
Mississippi (Lower) island a n d b a y o u s . l - . . . - . - . , . . . . / . . 8,372 ' "
Mississippi (Upper) and tributaries:.,. .> . . - , > , - , . . i . . . » . 2,736 "
Big Black Yazoo, rand b a y o u s . . . . . . . / 1
~.
1,190;. . "
Red river and tributaries..'.-..
. . . . . . . -1
. . . . . . . . 4,924 "
Arkansas river and tributai^ies....... . . . . . . . . .
. . . . . . 3,250 ''
Missouri river and its t r i b u t a r i e s . . / . . . . . . . : . - . . . - , . . . .
7,830 "
Ohio river and tributaries . . . . . '. . . . . ^ . . . . . . . . . . . . ^. 7,342 "
Total miles, including both b.anks of rivers' / . .

. . , . . 47,355

Question 2. " The exitent of frontier of the United States .bordering on
the British possessions."
'
^'
.
/
Answer. From the mouth of, the St. Croix to-the Pacific ocean, by
treaty lines, 3,303 miles/
' .
.
/
Question 3.''"The extent of frpntier of the UnitedStates bordering on
Mexico."
- ^
. ••; ^
Answer., From the mouth of the Rio Grande to the Pacific ocean, b y '
treaty lines, 1,456 "mile^. ,
• . .v
^
Question 4. " Exteiit ofshore line>of the northern lakes, including bays,,
sounds, and islands."
. •
.•,^..
- - " .
"^
'
Answer. American coast,;or* shore h n e . . .
..
. . . . . 3,620 miles;*
British coast, or shore line
. . . . . . . . . . . . . . ^ . . . . - . 2^620 "
Total miles.
1.........:....>...
../6,240 .
• -

.

^

-

'

'

^

"

^

•

.

"^

~

" ^

The maps of the country from which the foregoing facts^ are principally taken ai'e not sufficiently accurate,, or on sufficiently large scales,
to justify great precision. -But great care^has been taken to keep the
distances given within'a limit, of the most reliable probability, •
/V'ery respectfully yoiir-most obedient-^servant,: ^
.
J. J. A B E R T , Colonel Corps Engineers.
Hon R. J. W A L K E R , Secretary ofi the Treasury Department.



INDEX.

A.
A d valorem system of the tariff .of 1846, views in regard to
13, 282
Agricultural products, comparative view of the value of certain, according to the prices
they bore in the N e w Y o r k market in J u l y and December, 1846
50, 51
Alexandria city, the debts of—see District of Columbia.
American industry, views in 1847 on the effect of. . . ..
140
Appropriations, permanent and indefinite and specific, necessary^for 1847- 8 .=
3
for 1848-'9
120
for 1849-'50
....281
A r m y , estimates for the, for 1846—'7, . . . . . . . . . . . . .
2
estimates .for. the, for 1847-'8
3, 120
estimates for the, for 1848-'9
...
121, 280
expenditures in 1845-'6
22
expenditures in 1846-'7
.24, 154
expenditures in 1847-'8
...
156, 315
expenditures in 1848-'9
.
., . 345
A r m y , in peace and in war, in Great Britain, Russia, France, Austria, Prussia, Russia and
T u r k e y , men composing.the
434, 435
Assistant Treasurer of the United States—
amount of specie deposited with the, in 1847
128, 130, 131, 213
amount of coin received and disbursed.at the office of the, from 1st J a n u a r y , 1847, to
30th November, 1848
213, 301, 336
m o n e y s advanced to the, in 1848, to purchase T r e a s u r y notes.
339
Atlantic Dock Company, for the construction of docks, bulkheads, &c., in the East river,
Brooklyn, the prospectus of the, & c . . . . . 1 . . . . . . . . .
..
465
Austria, the national debt, yearly revenue, population and a r m y of
434
BBalance in the T r e a s u r y 1st J u l y , 1845
1, 19
1st J u l y , 1846
1, 2, 23, 119, 152
1st J u l y , 1847
119,155, 279, 315
1st J u l y , 1848.
279, 280, 317
Balances estimated to be in the T r e a s u r y —
1st J u l y , 1849
280
1st J u l y , 1850
281
Balances of former appropriations required to be expended—
for the service of 1847-'8.
3
for the service of 1848-'9
.,
,.
..
120
for the service of 1 8 4 9 - ' 5 0 . . . . .
280
Barclay, J o h n D., letter of, to the Secretary of the T r e a s u r y , pointing out a clerical error in
the annual report of December, 1847,,
278
Barley, the product and price of, in 1846.
.
10, 50, 51
Basin in N e w Y o r k city—see Piers.
in Brooklyn city—see Piers.
Beef, the price of, in 1846
51




666

INDEX..

Belgium, extracts from the customs laws of, and the regulations in regard to the warehouse
system of.
.
.. . ..
.v.
...........
..
• •• • • • .^U
Bids for the loans of 1847 and 1848, the accepted and rejected
215, 216, 325, 32b
Bonds, the form of, to be observed, &c.—see Warehousing system.
Bounty, on refined sugars and spirits and pickled fish, annually, from 1840 to' 1847
.. . . 408
Bounty land., views in 1847 in regard to the execution of the law of 1847, granting..
. . . . 126
Bounty land-warrants, scrip, &c., registers and receivers of the land dffices inhibited from
becoming depositaries or agents for the sale of, &c
.
••
Boston—see Wharfage.
Breadstuff's and provisions, the value of, exported during the fiscal years 1846 and 1847, and
views in regard to. . . . . . . . . . . . . .
•• . . - • 1 4 0 , 1 9 9
aggregate value of, exported each year from 1821 to 1848, inclusive'^ and views in regard t o . .
284,324
Brooklyn, piers at—see Piers.
Buffalo, the population, business, &c., o f . . . . . .
..,..... ....
..
- ..........
. 440
Bullion imported into the United States, in the calender, years of 1846 and 1847
. . . 20j
(See Com.)
C.
California, the condition of the public lands in
.
.....
311
the area of, in square miles and acres
335
the extension of the revenue system to.
..
. . . . . . . . . . . 340
Canada and the United States, a reciprocal free trade between, recommended in 1848.
, 296
. - .436, 436
Canal, grant from the lakes to the Atlantic, views in regard to'a project for a.
• ship, across the Isthmus of Darien, views on the feasibility of..
436, 437
Canals, the increased facilities to commerce b y the extension of.
• • • • 443
Chagres river, the- navigation- of the.
.....
.. . . . ..... - - .. . . . . i . 436.
Chickasaw cession, the quantity of land in the, and the average price realized in the sales. , 14
T r e a s u r y circular, and report, of the Commissioner of the, General
L a n d OMce in regard, to the lands in t h e . . . . . . . . . . .
.73, 74, 75
Civil, diplomatic,.and miscellaneous service—
estimates for 1846-'7
.
.. . 2
,3
estimates for 1847-'8
...
....
' on
121
estimates for 1-848-'9
••> 280
estimates for 1849-50. .
. . . . ..;..,.
...
-281
expenditures in-1845^6.
. . . . , . . . • ••• 19,
expenditures in 1846-'7.,
....
.. .24, 152
expenditures in 1847-'8..
..
..
156,315
expenditures in 1848-'9.
............................
..
...
318
Clearance, letter of, or accounts of particulars in regard to, the warehouse s y s t e m s . . . . . . . . . . 642
Coal, anthracite, brought to market in Pennsylvania in each year, from 1820 to 1833 inclusive.
,,
...
441
;
Coast of the United States, shore line of the coast, of the, and of th.e bays, sounds,, rivers,
and islands.connected with.it
. . . . ... .285, 341
shore line of the rivers, &c.,. of the. . . . . ....
••••• .285., 342
Coast survey, views in 1846 in regard to the progress of the.
18
views in 1847 on the progress of the.
....,••.•• — 136
views in 1848 on the progress of the. ...
. . . .. . 307
Coffee, the quantity and value of, consumed annually from 1821 to 1846, and the amount
of duty which accrued on. the same from 1821 to 1832, together with the duty per
pound, &c
..
... — . .
.. . . . .c - .,
c ,
..
..
26
statement of the quantity and value of, consumed annually from 1821 to 1847, the
amount of duty from 1821 to 1832, and the rate of duty per pound, &c., and
193 997
views on
- •« . . . . . . . l ^ o , at*
h o w much revenue-a duty of twenty-five per cent, on the imports of, would yield..
4
a duty of twenty-five per cent, ad valorem, recommended in 1847, to increase the
revenue.
.. . - .121, 123
Coin and bullion imported into-the United States, in the several collection districts, in the
calender years of 1846 and 1847..
... ,
205
imported and exported annually from 1821 to 1847 inclusive, and the excess of the
imports over the-exports, and of the exports over the imports.
...
..
. 211
receipts and disbursements of, at the office of Assistant T r e a s u r e r from 1st J a n u a r y ,
1847, to 30th November, 1848.
.131, 213, 301, 336
Coinage of the M i n t s of the United States from 1793 to 1847
- ..
.132, 183
of the M i n t s of the United States from 1st December, 1846, to the 1st December,
1847, and monthly from the 1st of J a n u a r y , 1847, to 1st December, 1847
132,. 184
amount of, in 1846.
..
..
324
in 1847
..
•324
in 1848.
..
,
... •
32.4
from March 1, 1845, to November 1, 1 8 4 8 . . .
....
324, 335
views in 1847 in regard to the, &c..
132




INDEX.

667

Collectors and other officers of the customs—
circular of instructions to the, in f u r t h e r a n c e of the act of 1846, reducing the d u t y
on i m p o r t s . . ..
........
.........
,. .
52
instruction's-to the, u n d e r the l a w establishing the w a r e h o u s i n g s y s t e m , and f o r m s to
be observed in execution of that law.
...
. . . ; . . . . . .....
...
,76 to 118
instructions-to t h e , in 184-7, to s u b m i t - q u a r t e r l y estimates of the e x p e n s e of collecting
the r e v e n u e . . .
...
.. . ...
,
..
..
.
.. . ...
230
instructions to t h e , to retrench e x p e n s e s a n d reduce the n u m b e r of officers, &c..
. 232
instructions to the, in consequence of the a n n e x a t i o n of California, a n d in regard to t h e
extension of the revenue l a w s over California. .
. , ......
.-.
340
i n s t r u c t i o n s to, in 1849, under the act of 6th of A u g u s t , 1846,- establishing the wareh o u s i n g system-. . ,
.... ....
........
.
. . . . . . . 359
Jt
C o m m e r c e , revenue-and population of the United States, f r o m 1790 to 1 8 4 7 ..201, 203 208, 209
of N e w Y o r k city
,
.414,415,416,417
h o w m u c h benefited b y the tariff of 1 8 4 2 . . . .
.10,11
the effect of the tariff of 1846 on'
.....
...
.,
143, 284
C o m m e r c e o n ' t h e Pacific, the m e a n s of p r o m o t i n g , discussed-in-1848.
.
..
..
..
292
Commercial p o w e r and- resources : of the United States, views in r e g a r d to, a n d its ultimate
effect u p o n the commerce of other nations, . . . . .
..
.435,- 436, 437, 438, 439
C o m m i s s i o n , report of the, in 1849, appointed to e x a m i n e into the operation of the debenture l a w s .
,.
..
..
. ..
...
.
406
Constitutional T r e a s u r y — s e e Independent
Treasury.
C o n t r i b u t i o n s in M e x i c o , directed to be levied, and views in regard- to, in 1847
121
views in 1848 in r e g a r d to.
,
..
..
..
j
..
297
C o r n laws- of Great- Britain, h o w identical in principle with the principle of the tariff of 1842. 12
C o t t o n , the*product and-prices of, in 1846, a n d views in regard to.
.
.
1 0 , 50, 51
the value of,- and of other domestic p r o d u c e , exported annually f r o m 1790 to 1807,"
and views in regard t o . . . .
,
,
..
.. - 145, 212
Credit—see National credit,
^
C u r r e n c y , views in 1847 in regard to'fluctuations, & c . , i n t h e .
..
131
Customs,- receipts from,- estimated for and ascertained—
inl845-'6..<
.,
,
,. .
.......
,•
..
1,19
in 1846-'7
,.
..-....,,„
;
2,24,119,151
in 1847-'8.
.....
. ,
.3,119,156,279,281,315
inl848-'9... ....
,
,..,,.
.
.
318
statement of the receipts f r o m , u n d e r the tariff of 1842, f r o m its commencement,
A u g u s t 30, to its termination, N o v e m b e r 30, 1846.
..
281, 320
receipts f r o m , under the tariff of 1846, f r o m J u l y 1, 1846, to September 30,
1848.
..
..
...
..
...
.281,320
estimated receipts f r o m — s e e Estimates.
a m o u n t of T r e a s u r y notes received for, in 1847..
,. . . ,,
..
..
....
.133, 214
gross receipts from,- in the several ports of the United States, i n / N o v e m b e r , 1846
and 1847
.,
,
.......
..
..
205
comparative statement s h o w i n g the a m o u n t of receipts f r o m , during the several
periods f r o m the 1st D e c e m b e r , 1845, to 1st December, 1847 .. .
...
..
226
circulars of instruction to the collectors and other officers of the, in f u r t h e r a n c e
of the act of 1846, reducing the d u t y on i m p o r t s
. . . . .,
,.
52
instructions to collectors a n d other officers of the—see Collectors.
C u s t o m - h o u s e at N e w Orleans—
views in regard to the projected, . , . . ...
,.
,,
135
the advertisement for proposals to •build a .
. .
..
....
..
..
232
T r e a s u r y circular, and other p a p e r s , in 1847, in regard to a site, and for the construction of a . ,
..
.,
,
.
.. 233
C u s t o m - h o u s e at Oswego, N e w Y o r k , entrances and clearances of vessels at, ,
...
440
C u s t o m - h o u s e s , f o r m s to be observed in e x e c u t i n g the law establishing the w a r e h o u s i n g
system.
.
..
.
.82 to 118, and 373 to 405, 359
f o r m s observed in the, of E u r o p e — s e e Warehouse systems of Europe.
C u s t o m - h o u s e officers, instructions to the—see Collectors;
the duties of, attached to the docks in L o n d o n ,
56]
D.
D e b e n t u r e l a w s , r e p o r t , in 1849, of the commission appointed to e x a m i n e into the operation
of the
. ....
..
..
. . ..
D e b e n t u r e s on foreign g o o d s , a n n u a l l y , f r o m 1840 to 1847 inclusive.
... . ..
D e b t — s e e National Debt.
Deficit in the m e a n s , 1st J u l y , 1847.
1st J u l y , 1848
120,
a m o u n t of, a p p r e h e n d e d in 1847
,
.,
.,
.....
Depositee of specie, in 1847, w i t h the A s s i s t a n t T r e a s u r e r of the United States at N e w
. York,
..
D i s b u r s i n g agents and officers of the G o v e r n m e n t — s e e Treasury
Circulars.




406
408
3
121
121
213

668

INDEX..

District of Columbia, payments, interest and principal, o n account of the debts of the cor r
porate cities of the.
28, 153, 159
outstanding debts of the corporate cities of the, in 1845
. . 28
outstanding debts of the corporate cities of the, in 1846
29
outstanding debts of the corporate cities of the, in 1847,
.. . . . . . . . 160
outstanding debts of the corporate cities' of the, in 1848
.
334
Dock Company-—see Atlantic Dock Company.
Docks, in England, statistics, &c., of the.
.424, 425, 426, 428, 429, 529, 561
slips, &c., in N e w York city, expenditure f o r . .
- 455
in Europe, report on the, and statistics^ &c., of the
..
- .505, 529
Domestic produce, the prices of, in 1846, and the value of, under the tariffs of 1842 and 1846,
and views in regard thereto.
..
..
10, 50, 51
exports of, in 1846 and 18.47
. . . . . . . . ,140,199
the value of the annual exports of, from 1790 to 1847 inclusive... ..
209
the value of the a n n u a l exports of, from 1821 to 1847 inclusive...
210
the value of cotton, and other domestic produce, exported annually from
1790 to 1807..
212
the, exported annually from 1821 to 1848 inclusive...
321
exports of, in 1847-'8, to the British e m p i r e . .
322
aggregate value of breadstuffs and provisions exported each y e a r , from
324
1821 to 1848 inclusive
f . <.
exports in the years 1846 and 1847, from the several collection districts of the
United States. .
205
exports.in 1847
.
226
exports in 1 8 4 8 . . .
...282
exports, views in 1847 on the
.
v
139, 143
exports, views in 1848 on t h e . .
.
282
Drafts—see Transfer drafts.
Drafts, T r e a s u r y , the law and regulations of the T r e a s u r y Department in 1846 in regard t o . 31
Drawbacks, report in 1849 in regard to
. . ...
•< •
406
Duties of custom-house officers attached to the docks in L o n d o n , &c. . . . .
561
. . . . . . . o . . 19
Duties, the amount of, collected in 1845-'6.
,
in 1846-'7
..
. . . 2 4 , 151
in 1847-'8.
156, 315
in 1848-'9
...
318
collected in the ports of Baltimore, Philadelphia, and N e w Y o r k , under the tariff
of 1846
6
:
the annual and aggregate amount of, collected under the tariff of 1842
320
the amount collected under the tariff of 1846, from J u l y 1, 1846, to September 30,
1848.
. . . . . . . . . . 320
the amount of, collected on tea consumed from 1821 to 1832, the average rate of
duty per pound, and the equivalent ad valorem.
25
the amount of, collected on coffee consumed from 1821 to 1832, the average rate of
d u t y , and the equivalent ad valorem.
26
the amount of duty which accrued on merchandise imported in 1844, 1845, and
1846, the amount of, and the rate of duty per cent, ad valorem.
30
the amount of which accrued, but,not received, in all the collection districts of the
United States, on the 1st December, 1846, 1st N o v e m b e r , 1847, and 1st December, 1847
.J
205
the amount and rate of duty on the coffee and tea consumed annually from 1821
to 1832 inclusive, the period in which it was^subject to d u t y . . . . . . .
227, 228
list of articles imported in 1844, and the kind and rates of d u t y paid thereon, under
the act of 1842, and the rate of duty ad valorem. . .
.282, 322
views in 1846 as to a duty on the imports of tea and coffee..
.....
4
views in regard to the ad valorem system of the tariff of 1846. . .
13
a duty of 25 per cent, ad valorem on coffee recommended in 1847
121, 123
•views in 1847 in regard to the, to be derived from Mexico,
122
excesses of, &c.
...,
30
amount of T r e a s u r y notes paid in for, from 1st December, 1846, to 1st December,
1847...
128,214
the act of 30th J u l y , 1846, reducing the duty on imports, and the schedules and
T r e a s u r y instructions under i t . .
...
........
.52, 58 to 73
statistics of the, collected in L o n d o n . . . .
. 427
views in 1848 on the system of, under the tariffs of 1842 and 1846.
282, 283
E.
England, report on the warehouse system of—see Warehouse system.
E n t r y of merchandise under the warehousing law, the official forms to be observed in
the
.
82 to 118
E r r a t u m , report of the aicting Secretary of the T r e a s u r y , correcting an error in the estiin the annual report of December, 1847
.
275
Digitized formates
FRASER



INDEX.

669
1

Estimates of receipts into the Treasury from all sources, arid of expenditures for all objects—
for 1846—'7
,,
...
2
f o r 1847-'8
.
3, 119
5
for 1848— 9
.
120, 279, 280
for 1849-'50
•
.. , .280, 281
views in 1846 in regard to the
. ..
4
clerical error in the, for the y e a r 1848, report o n , &c
•....,
275
E x c h a n g e j rate of, in L o n d o n in 1846. <..
....
51
E x e c u t i v e D e p a r t m e n t s , views on the organization of some of t h e .
312
E x p e n d i t u r e s of t h e G o v e r n m e n t for all objects, estimated for a n d ascertained , in aggregate
a n d in detail—
in 1845-'6
1,2,19
in 1 8 4 6 - 7
:2, 24, 119, 152
in 1847-'8
..
.3, 119, 120, 156, 279, 315
in 1848-'9
.....
,280,315,318
in 1849.
,
>.........
5
estimates of—see Estimates.
excess of, over m e a n s , 1st J u l y , 1847,
—
2
1st J u l y , 1848, (estimated)
3, 120
1st J u l y , 1849, (estimated).. . .
...
]21
E x p o r t s j of gold and silver from the United States, during the fiscal y e a r 1846-'7.
. . ..133, 185
the value of breadstuff's and provisions, exported in the fiscal y e a r s 1846 and 1847 140,
199
statement of the i m p o r t s a n d , foreign and domestic, during the fiscal-years 1846
and 1847
...
.. .,
.140, 199
domestic, of the United States, exclusive of specie, for the fiscal y e a r s 1846,1847,
1848, a n d 1849
v.
J 4 0 , 200
domestic produce and foreign m e r c h a n d i s e , separate a n d ' a g g r e g a t e , exported from
1790 to 1847
,
......
201,202
of specie, including A m e r i c a n coin, f r o m 1821 to 1847 inclusive...
203
the value of domestic, exclusive of coin and bullion, for the calender y e a r s of 1846
and 1847...
........
........
205
t h e value of the a n n u a l , of domestic p r o d u c e and- foreign m e r c h a n d i s e , f r o m 1790
to 1847.
209
the value of the a n n u a l , domestic produce and foreign merchandise, f r o m 1821 to
1847 inclusive, and also s h o w i n g the excess of i m p o r t s over e x p o r t s , and of
e x p o r t s over i m p o r t s . ,
. . . . .
.230
statement exhibiting the a m o u n t of coin and bullion imported and e x p o r t e d
a n n u a l l y , f r o m 1821 to 1847 inclusive, and the excess of imports over e x p o r t s ,
and of e x p o r t s over i m p o r t s .
,.
......
211
Jt
Statement s h o w i n g the value of cotton a n d of other domestic produce exported
a n n u a l l y f r o m 1790 to 1807
212
foreign and domestic, in 1847
. . . . ,, . ,
. 226
of domestic produce in 1848.
...
.
..
.. . , . . _ , ,
282
s t a t e m e n t s h o w i n g the domestic and foreign, exclusive of silver, a n n u a l l y , f r o m
1821 to 1848, inclusive
... . . .
321
domestic, to t h e British empire, exclusive of specie, for the fiscal y e a r 1847-'8.
322
o f b r e a d s t u f f s and provisions, each y e a r , f r o m 1821 to 1848 inclusive, the aggregate
value of
<
.
...
324
t h e value of the, of A m e r i c a n p r o d u c t s , and views in 1847 in regard t o . . . . . . . . 138
views in 1847 in regard to. .
...
. 1 4 1 , 1 4 2 , 1 4 3 , 1 4 4 , 145
views in 1848 in regard to the
282
E u r o p e , the w a r e h o u s e s y s t e m s of, report on—see Warehouse systems*
F
F i n a n c e s , in 1846-'7, report of M r . W a l k e r on the state of the
J
.
119
in 1847-'8, report of M r . W a l k e r on the state of the. .
in 1847-'8, report of M r , Y o u n g in regard to an error in the a n n u a l report on t h e . 275
in 1848-'9, report of M r , W a l k e r on the state of the
...
..279
views in 1847 as to the best m e a n s of i m p r o v i n g t h e . . ..
... . . . . . . .
124
F i s h , pickled, bounties o n , a n n u a l l y , f r o m 1840 to 1847 inclusive
. 408
F l o u r , the price of, in 1846
51
0............ .
F o r e i g n intercourse—
estimates f©r 1846-'7
„. B
'2
estimates for 1 8 4 7 - ' 8
. 3 , 120
estimates for 1848-'9
121, 280
estimates for 1849-'50
281
e x p e n d i t u r e s in l£S45-'6.
20
expenditures in 1 8 4 6 - ' 7 .
24, 152
e x p e n d i t u r e s in 1 8 4 7 - ' 8
156, 315
e x p e n d i t u r e s in 1 8 4 8 - ' 9 . . . . . . . . . . . . . . . . . . . . a
318




670

INDEX..

F o r m s , official, to be observed in the execution of the law establishing the warehousing
system.
• .. . . . . . . . . . .
.83 to 118, and 373 to 405
pursued jn executing .the warehouse systems of Europe... .515, 516, 518, 544, 546 to 664
Fortifications, &c., estimates for, for 1846-'7
.. .
..
..
.. . .... •• • • •
2
.estimates for, for 1 8 4 7 - ' 8 . . . . . . . . . . . . . . . . . . . . . . . .
o, l^U
estimates for,.for 1848-'9. .
.. .....
.121,280
expenditures in 1 8 4 5 - ' 6 . . ..,.. . . . .
..
....
..
22
expenditures in J.8.46-'7
,...,
...
• - -24, J55
expenditures in 1847-'8.
.,
.. ....
........
.,156, 317
expenditures:inlS48-'9
. ... . . . . . . . ... . . . . . . . . . . . . . . . .
. . . . . 318
France, the national debt, yearly revenue, population, and the a r m y and navy of.-... ..
434
F r a u d s , how t h e y . m a y be committed,on the revenues, under the debenture .laws,
...
406
Free trade, views, in 18.47. in support of.
.. v
,.
•• •
139
-views in 18.48 in support of.....
;....
....... . . . . .
....
,a.reciprocal, between Canada and the United.States, recommended in 1848.
29b
Freights,,views in 1847 in regard to
- •• • 139
Frontier of the United States, the extent of the, in miles
...
• .^85, 441,
F u n d s available in the T r e a s u r y 1st October, 1848.
...
.... ..
319
G.
General L a n d Office, special report of-the-Commissioner Of the..
.(..
.....
75
Geological survey, of the lands embraced'in the Chippewa land district in the Territory of
Wisconsin, instructions from the T r e a s u r y Department to Dr. Owen
to make an examination and,
..
.......
..
125,238
of the lands embraced in the L a k e Superior land district, in the State of
Michigan, instructions from the T r e a s u r y Department to Dr Jackson
to make an examination and.,.,. .
125, 241
Geological surveys, the results of, in Pennsylvania,
440
Georgetown, the debts of—see Distinct of Columbia.
Gold and silver imported into the United States in 1846 : and,1847, and exported for the
same period.
- ..
...
•• • ••
- »•> •
• 185
Governments o f t h e principal nations, the. character, of, .and.the population of the.
...
4 62
Graduation, the estimated gain o f t h e , over the old system ofselling the public lands, .
75
views in 1846 in favor of. . . . . . . . . . ... ...
14
1
views in ;1847 in favor of.
..
.. -v »••
. . . . . . . . . . . 121
Great Britain, the national debt, annual,revenue, population, a r m y and navy of,
..
434
H.
H a r b o r s and rivers, the improvement of—
expenditures for, in 1845—'6. .
.. .
expenditures for, in 1846-'7.
..
••
expenditures for, in 1847—'8. . . ...
"V
H e m p , the price of, in 1846.
H o m e market, views in 1846 and 1847 in regard to a.,
.....
••
H u d s o n river, concerning an ice-boat to keep open the.navigation o f t h e .

22
-

•

"
••
51
' U > l ^ 1 ' i4U>
..,
439

I.
Independent treasury, circulars from the T r e a s u r y Department in 1846, to Government,
officers, in execution of the laws establishing the, and for the better
organization of the T r e a s u r y Department. . . .31, 35, 36, 37, 40, 41
-views in. 1846 in -regard to the, and the regulations under the law^
establishing the.i
.. ... - >.
..
....
••
..
6
views on the operations of the, in 1847
..
..
. . . . .129, 130
Indian corn, the product and price of, in 1846.,
..
10,50,51
Indian Department—
expenditures in.the,.in 1845-'6
••
•• • •• • - ^
expenditures in the, in. 1846-'7
.,
..
..
. . . . . ••
*
•••.•
.24,155
•
156,317
expenditures in the, in.1847-'8.
..
..
•• .
expenditures in the, in 1848—'9
..
318
Industry—rse'e American industry.
Interest on the,public debt—^see Public debt.
Imports, of merchandise, in 1844, 1845,.and 1846, the value, of,, and amounts of duty, &c..
"30
of gold and silver into the United States, for the fiscal year of 1846-'7, and .views
concerning.
.. ,. . . . .
- .••
- • « - - •< ••
.129, 133, 185
.and exports, foreign and. domestic, during the.fiscal years J 8.46 and 1847.
.1.4.0, 199
total, and.imports consumed in the United States, from 1790 to 1847.. .201,,202, 203
.and. exports, of specie,.including American coin, from. 1821 to 1847 i n c l u s i v e . . . . , 203
.of coin and bullion.,, during .the. calendar years of 1846 and 1847.. . . . . . . . . . . . . . 205
the value of, reexports, .and consumption of foreign merchandise, annually,*fro.m
.1790 to .1847 inclusive
.
. . . . 208
the value of the annual imports from 1831 to 18,47, an.d the excess of, .over exports. 210




INDEX.

671

Imports, statement of the amount of coin and bullion imported and exported annually, from
1821 to 1847; also showing the excess of the imports over the exports, and of
the exports over the imports. . . .. . . . . . . . . . . . . . . . . . . .
....
211
J(
table exhibiting the value and kinds of., remaining in warehouse in the several collection districts, on the 30th September, 1847
219
aggregate of, in 1847.
226
statement of the total, and the imports consumed in the Ignited States, exclusive of
specie, during each fiscal year from 1821 to 1848 inclusive; showing, also, the
domestic and foreign exports, tonnage, &c. ....
........
.. . . . . .. . . ,,
.321
act of 1846, to reduce the duty on, and T r e a s u r y regulations under it.
.52, 58 to 73
into N e w Y o r k city, and the .exports f r o m . . . . . . .
415 } 416
J,
;Tackson, Dr. Charles, instructions to, to m a k e a n examination and geological survey of the
lands embraced in the L a k e Superior land district, in the State.of Michigan
,.
241
L.
L a n d s , public, receipts from the .sales of the, &c,—see Public Lands.
statistics of—see Statistics.
in the landed States, the quantity, in square miles and acres
L a n d department, views in 1848 in regard to the. . . . . . .
'
Light-house system, views in 1846 in regard to the. . . ..
,, . . .
........
views in 1.847 in regard-to the, and the erection.of light-houses.
"
Liverpool docks, statistics of,
.
...
.426, '427
L o a n s , receipts into the T r e a s u r y under the act of 22d J u l y 1846, and J a n u a r y 28,1847, and'
,31st M a r c h , 1848 viz:
'

335
321
17
136
428

^JifMZ'
2, 119, 151
m
]lfQ-?Q
119,156,279
in 1848-'9..
...
.279,319,339
amount available on.the 1st October,.and 1st December, 1847, of the, of 1846 and'
1847 . ., . . . . ....
...
..
J 2 8 161
amount of, available to the T r e a s u r y , 1st October, 1 8 4 8 . . . . . . , , ,
.128' 319
loans .of 1841, estimate in 1846-'7 for the redemption of.
. . .,
'
2
payment on account of the, of .1841, in 1845-'6. ....
...
.....
..
28
in .1846-'7c
.155,159
list of the accepted, and list of the rejected bids for the loan of 1847
.215, 216
accepted and rejected bids for the, of 1848
....
.303 325' 326
and T r e a s u r y notes, receipts .into the T r e a s u r y annually from, from 1790 to ' 1848
inclusive..............,
....
.......
. . . . .303 332
view;s in 1846 in regard to a new
5 16
...
,,
,121 123
views in 1847.in regard to a.new, . .i
outstanding, in ,1845 and 1846, and % '8 of the loan of 1841
. , '
.28, 29
loan of 1842..
...
.29,160,334
loan of 1843
29, 1.60', 334
loan of 1 8 4 6 . . .
.160,334
loan of .1847. . . . - . . ,
160,334
loan of 1848.
. .
....
,,
334
advertisement for the United States loan of 1846.
....
...
.........
29
advertisement for the loan of 1847, and remarks in regard to.
134, 224
advertisement for the loan of 1 8 4 8 . . . . . . . .
..
...
.302'336
L o n d o n , statistics of the docks, shipping, trade and navigation of,.
..
...427,' 428
M,
M a r k e t s , the prices of agricultural products in N e w York in J u l y and December, 1846. .50, 51
the-prices of United States stock in N e w York-in 1846 and 1847,
133, I8f>
the prices of United States T r e a s u r y notes in N e w Orleans in 1846-'7.
,133' 194
M c N a i r , Col. D. R . , and E . J , Roberts appointed b y the Secretary of the T r e a s u r y mineral agents under the acts of the 1st and.3d M a r c h , 1847.
. .. . .,.,
. . . . . . ..
245
Merchandise, the value of, imported in.1-844, 1845, and 1846, paying d u t y , the amount of
duty which accrued on the-same, &c.
.,
'
.. . ..
30
the value and -species of foreign,,remaining in -warehouse on the 30th September,-and -views in 1847 in regard t h e r e t o . .
..
.....
136, 219
foreign, exported from 1790 to 1847 inclusive.;
. _.
..
' 201
the value of foreign, imported:and consumed in the United States, and reexported, annually, from 1790 to 1847, <
,
208
the value of annual-exports* of foreign, and of-domestic produce, from 1790 to
1847 inclusive. . . . .
...
209
the value of the annual exports and imports of foreign, from 1821 to 1847 inclusive. . . . .
,, 210
the value, of foreign 'and -domestic produce, exported annually from 1821 to
1848 inclusive.
321




672

INDEX..

Merchandise,debentures ori foreign, from 1840 to 1847 inclusive.
408
value of, warehoused in the ports of the United States,from August 6, 1846,
to September 30, 1,848.
\ ...
476
sent to the United States warehouses, unclaimed.
.
477
M e x i c o , contribution in, directed to be levied in 1847, and views in regard to, in 1847 and
1848. %
..121,297
the internal revenue of the Government of.
123
the tariff, of, and the trade with, discussed in. 1848
- 296
Mexican hostilities, expenditures on account of, in 1845-'6
.22, 23
in 1846-'7
155
in 1847-'8
317
in 1848-'9
381
Military contributions—see Mexico.
Military service, estimates for the,'for 1846—'7.. *
.
2
estimates for the j for 1847-'8
3, 120
estimates for the, for 1848-'9.;
121, 280
estimates for the, for 1849-'50
281
expenditures in 1845-*6.
• • 22
expenditures in 1846-'7 :
,
• 154
expenditures in 1847-'8/.
...156,317
r
Expenditures in 1848-'9. . * >.
..
.....
». • 318
Militia, arming the, estimates and expenditures for—see Military service.
Mineral lands, geological survey of thej ordered, &c., in 1847,
125
Mineral agents, Dr. C-. Jackson; 1 Colonel D. Ri M c N a i r and E> J, Roberts, appointed.
245
M i n t , branch, at N e w York city, views in 1847, in favor of the establishment of a. . . ,.131, 213
views in 1848 in favor of a
. ...
,
298
M i n t s , of the United States, circulars to the directors and superintendents of— see Treasury
circular.
statement of the coinage of the several, from the dates of their establishment to 1847
inclusive . . . . . .
* ................
183
coinage of the, from 1st December, 1846* to 1st December, 1847, and monthly, from
the 1st of J a n u a r y , 1847, to 1st December, 1847.
184
coinage at the, in the years 1846, 1847, and 1848.
324
statement of the deposits and coinage at the M i n t , from the 1st of M a r c h , 1845, to
the 30th November, 1848. ...
335
views in 1847 in regard to the operations of the.
. . . 132
Miscellaneous service—
estimates for 1846-'7,
2
estimates for 1847-'8.
. . -3, 119, 120
estimates for 1848-'9
.121, 279, 280
estimates for 1849-'50.
...
280, 281
expenditures in 1845-'6.
• . 20
expenditures in 1846-'7.
*..
-24,154
expenditures in 1847-'8
• • . • .156,'315
expenditures in 1848-'9
318
sources, receipts from—see Receipts.
Molasses, the price of, in 1846
• 51
N,
National credit, views in 1847 as to the best means of maintaining the.
; . . . . . . . . . 124
National debt of Great Britain, Russia, France, Austria, Prussia, and T u r k e y
434, 435
of the United States—see Public Debt.
Naval officers, T r e a s u r y circulars to—see Treasury circulars.
Naval service, including the Marine Corps—
estimates for the, for 1846-'7.
2
estimates for the, for 1847-'8.
3, 120
estimates for the, for 1848-'9
.. •
121, 280
estimates for the, for 1849-'50
- 281
expenditures for the, in 1845-'6
23
expenditures for the, in 1846-'7
*
*
.24, 155
expenditures for the, in 1847-'8
156, 317
expenditures for the, in 1848-'9
31.8
N a v y Department, expenditures under the direction of the—see Naval service.
N a v y of Great Britain, Russia, France, Prussia, and T u r k e y , the number of ships in the. .434,435
N e w Orleans—see Custom-house.
N e w Y o r k city, statistics of.
.413, 414, 415, 416, 417
the debt and means of, &c.
445
see Mint»
the policy of building piers at, discussed at length
435 to 451
conventions, plans, and estimates, and proceedings of public meetings, in
favor of erecting a pier and basin at..,.• • •«•
451




INDEX.

673

N e w Y o r k city, the: a n n u a l expenditure b y , from;1820 to 1835, in docks, slips, and b u l k h e a d s
table of the rates of t a x in the several w a r d s of.
.
the a m o u n t of revenues collected a t . . . . .
.'..'.'!!!
N e w . M e x i c o , . t h e area^of, i n s q u a r e miles a n d acres
! ! ! ! ' , . '

455
458
301
335

0.
Oaths; forms of, under the warehousing law
sq qa R7 04 inn ahq
O a t s , the p r o d u c t and price of, in 18467
'
10 50 51
O r d n a n c e , estimates' and e x p e n d i t u r e s for—see Military service
'
Oregon, t h e area of, in s q u a r e miles and acres
305
v
views in favor of the extension of the revenue laws" to".' ! . .
' i V 127
r e c o m m e n d a t i o n in 1847 t h a t donations of land' be given to "settlers in
' 107
t h e extension of the revenue l a w s to, & c , . . . . . .
' '
999
views in 1848 in r e g a r d to g r a n t s of land in, for school p u r p o s e s . ' . ' ! . ! ! ! ! ! ! \
310
Oswego—see Custom-house.
,.
r r
... . . . o i u
O w e n , D r D a v i d D , , instructions f r o m the T r e a s u r y D e p a r t m e n t to, to m a k e a geological
e x a m i n a t i o n and s u r v e y of the lands embraced in the C h i p p e w a land district, in W i s c o n Sln

'''

125,238

P.
Pacific ocean, t h e m e a n s of p r o m o t i n g commerce on the, discussed . . . . . .
P e n s i o n s , a r m y and n a v y , e x p e n d i t u r e s for t h e p a y m e n t of, in 1845-'6.
in 1846-'7

009
'V
22 2 3
! . . . . ' ! .'.24, 155

P e r m i t , form of, to land merchandise for w a r e h o u s i n g
..
*"" * * 1 5 6 , 3 g l
P i e r and basin in the. N o r t h river, report concerning the erection of a great," a n d a r g u m e n t s
'
in. f a v o r . o f .
,
409
?
c o m m u n i c a t i o n s s h o w i n g the cost, and proceedings of public* meeting in
f a v o r .of the erection of a
...
......
45-,
P i e r s a n d basin in the E a s t river, B r o o k l y n , prospectus of t h e ' A t l a n t i c ' D o c k C o m p a n y In '
regard, to .the erection of,,and .certificates in favor of, b y i n s u r a n c e companies of N e w
465
P o p u l a t i o n of .the .United States, f r o m 1790 to 1847, statement of the
'
a n n u a l l y , f r o m 1790 to 1848 inclusive, statement of t h e . . . . . . .
qnq 203
r*9
& c . , of N e w Y o r k city
4 1 2 4 1 3 414 ' 4 1 5 4 1 5
of .the world .and principal n a t i o n s of the w o r l d .
'
' 4 3 1 ' 439' aqa
P o r k , the prices o f „ i n 1846.
' 4<w»
bL
P u b l i c debt of t h e . U n i t e d States—
' "
''
a m o u n t of t h e , paid f r o m 4th M a r c h , 1845, to 1st D e c e m b e r , 1846
5 -98 127
a m o u n t of the, paid .from 1st December, 1846, to 1st D e c e m b e r , 1847
W
it*
principal and. interest paid on the old funded and u n f u n d e d , in 1 8 4 5 - ' 6 .
"
23 28
in 1 8 4 6 - 7 ; . . . ! ! ! ' ! ! ! 1 5 5 , 1 5 9
in 1847-'8
156, 1 5 9 , 3 1 7
in 1848-'9
318
interest paid on the loans of 1841, '2 and '3, in 1 8 4 5 - ' 6 .
90 9 0
'"J846-;7
^
|47- 8
in 1848-'9
interest p a i d . o n . t h e T r e a s u r y notes in 1 8 4 5 - ' 6 .

:i'i55,159
3,156,159,317
qiq
" " 2 3 og

• " ^ ' > 1 •
* •. ." ' . . " . . ' . ' . . . .155, 159
1 5 6
I n . . : . : : : : • : : : :
' 1 5 9 ' ^
expenditures.for. the redemption and r e i m b u r s e m e n t of T r e a s u r y notes—
i S E : : : : : : : : : : : : : ; : ; : : : ; ; ;
in 1848-'9
.J"
156, l o 9 ,
statement of t h e , 4th M a r c h , 1845
a 'or ' W Y o q
statement of the, 1st December, 1846.
o, ^o, w / ,
statement of the, 1st D e c e m b e r , 1847.
"'
* V97
statement of the, on t h e 1st October, 1=848
*°
statement of the, September 30, 1848
.....
statement of t h e , a n n u a l l y , f r o m 1790 to 1848 i n c l u s i v e . ! '
" ' qaq
principal and interest of the, paid a n n u a l l y , f r o m 1^90 to 1848, inclusive!!! ''
m
* i?' Z U i " l l y ' l 0 n 1 a C ^ ° u n t o f t h e i n t e # t a n d Principal of the, from' t h e
4th of M a r c h , 1789, to t h e 1st December, 1847, and views in regard to. . . . . . .128
the actual increase of the, since M a r c h 4, 1845
'
'
^ views m 1848 in regard t o ' t h e .
!.'!"*'
P u b l i c l a n d s , receipts f r o m the sales of, estimated for a n d ascertained—
in 1845-'6
,
in 1846—'7
' . V . 7 . ' / ' ' 2 24 119
S w K : : : ; : : : : : : : : : ; ; ; : :

Digitized for VFRASER
o l . VI.—42.


3

>

317
o}q
213
qqa
Q09
Vlt
18*
001
S
1Q.
151

3 1 8

674

INDEX..

Public lands, views in. 1846 in! regard to the. graduation and: reduction, of the p r i c e o f . - . . . . . . 14
121
views, in 1847 in favor, of:the graduation;, and reduction of-the price of.
the a m o u n t of,, subject to. sale.
........
14
the quantity ofJancU in the, Chickasaw; c e s s i o n . . , . . . . . . . . . . . . . . . . . . . . . .
14
h o w the revenue from, might be increased under the preemption system . . . .
15
a( graduation of the price of, recommended in 1 8 4 7 . . . . .
..
••• •
estimated' receipts from the sales of—see Estimates.
quantity of, subject to private •entry in December,. 1 8 4 7 . . . . . . . . . ........ . . . . . 1 2 4
unsurveyed, to which the.Indian title was extinguished 1 in 1847.....,.;........... 124
amount" ©f T r e a s u r y notes., received 3 for., in 1846-7....................,.,. ........128, 198
T r e a s u r y circular, and report of'the L a n d D^p.art|nent, f in.repu-cUo.the sales,
&c., of lands in the Chickasaw lands.,.'. . . . . V . 7 . . . . . . . . . . . . . . . . . . .73, 74, 75
statement showing the. estimated 1 g a i n . o f / t h e graduation over ; the. old' system
of selling the, & c .
• • 'Y™''"
the number of acres of, subject to entry at .private sale.in .each;State,and. T e r ritory, the number procMmed to be offered in the spring, of 1848,. the,
number surveyed and not proclaimed or offered, the number in process, the,
number to which the Indian title has been extinguished 3 , (fec.,,<fec., to the
1st December, 1847
•
-198
t h e . a i m in. square miles and quantity: in acres of, in the. Territories of-the
United .States,.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 335
in California, views:in 1848 in regard to
. . . 311
Public moneys, T r e a s u r y circulars and regulations in 1846 in regard to the safe-keeping
* of the, (fee.
•
-31> 3.5j. 36, 3?, 40.^ 41
views in ; 1847 in regard:to; the,keeping of the.,.
130
subject to. draft in November, and. December,. 1848
338
Public revenues—see Revenues.
Preemption laws.,.views.in regard to.the restrictions in the
15
' '
an extension of the, recommended in: 1847 to unsurv.eyed lands-,, and: 0 n
fayorable conditions.to.actual- settlers
......
121* 124
Prices cijrrerit in .New Y o r k of certain, agricultural products.... ...
.10, 50
1
of .United States.stock in N e w Y o r k in. 1846- '7.
186
of r United States, T r e a s u r y notes in N e w Orleans. ih: 1846- '7:.
194
Products. of agriculture—see Agricultural products..
American,, exports of, in. 1846. and: 1 8 4 7 * . . . . . . . . . . .. .
199
views in, 1847 on the,annual value.and,export, of, < f e c . . . . . . . . . . . . . . . . . . . . . .
138
views in regard to the interchange of. . . . .
• » . . . . . . . .. . . . . . . 139.
Prospectus of the AtlanticDock C o m p a n y , N e w Y o r k city, in.r.egard to the erection of docks,
bulkheads,,&c
...
465
Protective policy, views in 1846 against the...
••••"
:;
ViV
'
views in 1847 on the
142, 143, 144, 145, 146, 147
argument in 1848 against a
285
Provisions exported—see Breadstuffs.
Prussia, t i e national debt, annual revenue, population, a r m y and navy of:
434
R.
.Receipts into the T r e a s u r y from all sources, as estimated for, and ascertained—
in 1845-'6
1,19,226
in 1 8 4 6 - ' 7 * . . . . . . . . . . . . . . i
.2, 24, 119, 151, 226, 320, 339
in 1847-'8
.......
.3, 156, 229, 279, 281, 315, 320, 339
in 1 8 4 $ - 1 ' 9 . , . . " . . , . . '
318, 320, 339
h o w much, they declined under the tariff of 1842.
-.j
... •
6
h o w increased under the tariff of 1846. t
6, 13
from sales of public lands-^-see Public. Lands.
from customs—see Customs.
from loans.—see Treasury Notes—see Loans.
•estimates of—see. Estimates.
views in 1847 on the operations of the. tariff.of 1846, and the, under, it
138> 226
f r o m customs in all the ports.of. t h e United StateSj severally, in-.November, of
1
1846 and, 1847.
......
205
v
from customs, comparative statement showing the.amount of* during several perir
ods, from 1st December, 1845, to 1st .December,. 1847-, and views-, in regard" t o . 138, 226
from customs, under the tariff of 1842, for the entire, period of its.existence.. .281, 320
under the tariff of 1846, the average monthly,.from J u l y 1, 1846, to September. 30,
1848.. . . . . . . .
. .. .
. .
-•
. . . . m , 320
of specie and T r e a s u r y notes aj.the cust.om r house., N e w Y o r k , in 1847-and 1848.. 324
into the T r e a s u r y , annually from°1790 to: 1848 inclusive of T r e a s u r y notes: and;
loans.........
• • • •.—
303, 332
from, the loan.of 1848. .
•• • • . • ••
339
123
views in 1.847 in.regard to t h e . a m o u n t o f , . t o be derived from M e x i c o .
Treasury CirciUars.
Digitized forReceivers—see
FRASER



i M I
0

67S

m

I S ^ ^ '
^
^ ^ i S e r a n n u f U l y , , f r o m i i m t o 4 8 4 7 n n d « s w e , , t H ' e . v a l u ^ o f . . . , . 208
Registers and receiv.ersrof landroffi.Ges,:Treasury.circulars, to in 1846v;..,! <31*33^35*36 37 49
Treasury..circulars.to,:in, 1 8 4 7 . . . . . . . . . . . ' . . . 233
inhibited in 1847 from, becoming depositaries ' or
agents for the.sale.of. b o u n t y land: w a r r a n t s v c e r t i f i Revenue, a n n u a ^ p f G ^
434
internal, of the M e x i c a n , Government..
.......
•
' 7
'
Revenue l a w s , , v i e w s in fav^r. of their, extension to O r e g o n , ! . " !
""" V " ' " "'*"
considerations in 1848 in regard to their extension^o.bVeVon, fc ' " '
*'
Treasury circular in:1848 in regard to:the:extension of. the,.avei'ihe'acquil
4
sitions.from M e x i c o .
..
...........
. ,
Revenuesj.estimated.and ascertained; amount-of the--" '
""" *
.v
f o r 1845-^6. ,
. . v . . . . . . . . . . . . . . w . . . .,
i-19.
for Tft47~'ft' • •
•
...
Z ^l;;:::;;;;;:;^:;:;'-:^
h0

^ieldUCh

* ^ y p ^ r

435
Too
900
Qifl

am

226

. . .V. . i y 24, i i 9 ; . i 5 1 J 2 2 6 , 3201 339
• •• • • -3>
279, a s i , 3 1 5 , 3 2 0 ; 3 3 ?

Venl'/on 'the i m p o r t s o F t i a a n d

w S

h o w m u c h t h e , declined u n d e r t h e ' t a r i f f o f 1 8 4 2 . * . . . . . ' .
" '
' ' " '
how. much, increased u n d e r the n e w tariff
•.
.
"
h
lands:
°system r e v e n u e f r o m
might." be. increased' u n d e r t h e preemption

^
t
5

m e a s u r e s recommended in 1847 to i n c r e a s e ' t h e ' ' . 1 ^ ' . ! !
" ' " " " "
laws of C o n g r e s s and regulations of the T r e a s u r y D e p a r t m e n t , ' pro'vidinV for the
safe-keeping, t r a n s f e r , and disbursement of the p u b l i c . . . 3 1 , 3 3 , 3 5 , 3 6 , 3 7 40 41 4Q
a m o u n t of revenue u n d e r the: tariff of 1842: d u r i n g its existence. \ .
' 281
reYenUe: UDder the tariffof; 1846
^ m S
' from J u l y , 1st-, 1846, t o S e p t e m b e r '
i t a ^ 1 6 r e v e n u ® » " c o m m e r c e , a n d population'o'f- t h e United S t a t e s , ' f r o m '
^
i/yuto-i-«474
.......
. 201 2 0 ?
- e n u e , an.nual, exclusive of Treasury; notes a n d l o a n s , f r o m 1790 to 1848 inclusubj.ect to draft in Nbve'mber'and December,'1*848; ".'.'.'.*.'.'.
* 3 0 3 ' qq?
views m.1847 on-the operations-of t h e tariff of 1846, and statement s h o w i n g 'the
b
amount-of, derived therefrom...ioo 00c
views.in 1848:on.the
.........
- ""
Rice, the product arid price* of, in 1846;,
"
l n' Vn
Rivers, i m p r o v e m e n t of— s e e Harbors..
'
'
R u s s i a , the n a t i o n a l debt, y e a r l y revenue, population, a n d a r m y and n a v v of
.
.
.
434
R y e , the:product a n d - p r i c e of, in 1846
...:
.50, 51
S.
S a m p l e s , the quantities allowed.to be d r a w n a s , in the custom-houses of E u r o p e . . .
1
568
School lands—see Oregon.
Settlers, r e c o m m e n d a t i o n i n . 1 8 4 7 . t h a t - t h e p r i c e of public l a n d s be reduced to actual,.
124
.. in Oregon,
^iuiiw-ui
ia.uu. be
L»C mIIlclUC
LU... ..
recommedation
land
a d e to.
97
f ^ coast
i of. j.1.
TT.. • . tVi.^u
1hSa«tta grants-of
. . . . . . . . . , .9 qV
, . , Q7X/
Ci
S h o r e linn
line of the
t h e_ United
t .e s . . . . . .
.
zn
of the rivers of the United States.-.
,..
" " 7
- - ' 3411

285
Ship building, t h e cost and progress"of"
~
'
' 342
statement s h o w i n g the n u m b e r and, class-of" vessels 'built," and the' tonnaVe'thereof" in 4 4 1
each State and I erritory of t h e United States, in the y e a r 1834. .
442
S m u g g l i n g w o u l d become an organized system if the tariff of 1842 w e r e r e e n a c t e d . ' . . ' ! . ' ! ! ! 2 8 5
Spirits, refined, bounties paid a n n u a l l y . o n , from. 1840 to 1847 inclusive.
..
40ft
Specie, i m p o r t s and e x p o r t s , o f , in 1846 a n d . 1 8 4 7 . . . . . . . . .
" ' 1 3 3 Jg^
a m o u n t of, received from-all sources into the T r e a s u r y in 1847, and d i s b u r s e d ' 128 133 185
received at the c u s t o m - h o u s e , N e w Y o r k , f r o m J a n u a r y 1, to December. 1,184.7 ' 129' 197
i m p o r t s of, d u r i n g . t h e fiscal-years 1846:and 1847,
'
. . . . . . ' 1 3 3 199
imports a n d . e x p o r t s of, including A m e r i c a n coin,.from 1821 to 18*47 inriusiVe''
' 203
on deposit" in 1847 with the A s s i s t a n t T r e a s u r e r of the U n i t e d States in 1847"an'd
views in regard t o . - . . . . . . . . .
.... ,
1 9 q ' i q i 910
imports of, in 1847.
' \ 7 ' ' .V." .
' 226
for f u r t h e r statements of the imports, and e x p o r t s of—see Coin.
a m o u n t of, received at t h e custom-house, N e w York., in the years 1847 and 1848. 301 324
receipts and d i s b u r s e m e n t s of, in 1847 and 1 8 4 8 . .
qqq
Statistics of public lands
. . .". . ' . ' . ' . . ' • ! ' 1 9 8 3 3 5
,
of commerce, revenue,, a n d population of the United States ,' from'i.796 'to •.1847•.
201,

.
.
t .. . j
of the tonnage of.the United, States
of.population of the United S t a t e s .
of the public debt of the United.States..




..

.
.. ..

"

2 0 3 , 2 0 8 ; 209
225 229 442
'
'333
332

676

INDEX..

o
QQ2
Statistics of loans, Treasury notes, &c
• -- ••
• • ••• •
"
^
shore line of the coast and rivers, &c., o f t h e United States in miles
341, 34^
.of property, taxation, and population, & c „ of N e w York city commerce, tonnage,
duties,
- 413 > 4 1 4 ' 4 1 5 ' 4 1 6 > H I
o f t h e docks in England
-.. - ^
of shipping, trade, and navigation of London.
y A " ' 'Tqi I t o
of the population of the world, and o f t h e principal nations of the world
.431,
of .the debts, .revenue, population, army and navy of Great Britain, Russia,
France, Austria, Prussia, and T u r k e y .
,v
of ship building.
...
- " '
...
of expenditure by New York city for docks, slips, &c
^
Steam power, particulars in regard to.
.
^ ' 9q9
Steamships, additional, recommended in 1848 as a means to increase commerce in the P a c i f i c 2 V 2
Steam navigation to India and elsewhere, projects for.
.
- • • - 4 3b,
Stocks, United States, issued in 184C> and 1847, amount, &c., of.
-v. .... . ^
>• • • • w
prices of, at New York, from December 1,1846, to Dec. 1,1847 , 133,l«b
avails in 1847-'8 of, issued under the acts for funding Treasury notes 315
318
in 1848-'9.
334
issued per acts of 1846 and 1847
Sub-Treasury—see Independent Treasury.
Sugar, the price of, in 1846.
• • * • • • • • • • • • •• -.
••
4UC5
refined, bounties on, annually, from 1840 to 1847 inclusive..
Survey—see Geological Survey-^see Coast Survey.
Surveyors of ports—see Treasury Circulars.
T.
Tariff of 1842, receipts from customs during the existence of t h e . . . . . . . . . . . . . . . . . . . . • - - 320
rate aiid kind of duty under the, on certain imports
in 1844, reduced to an
J
ad valorem dutyc
. .
\ \"\
"
identical in principle with the corn laws of Great Britain, how
^ , 12
Tariff'act of 30th J u l y , 1846,.the, and the Treasury instructions, to collectors and other
officers of the customs in furtherance of the-..,
.52, 58 to 16
receipts from customs, from July 1, 1846, to-September 30,
1848.
..
.
- — ••
views in regard to the benefits of the. .
.8, J41
the increased value of agricultural products, and increase of
commerce, and increased revenue, under the.
.. ,10, 13
views in 1847 on the operations of the, and a statement of
receipts under the, compared with those under the act of
F
..
...138,226
1842
views in 1848 on the revenue collected under the, and the
benefits of the, as compared with its predecessor
282
Tariffs, high and low, the effect of, discussed in 1847
......
142
T»
t^nlintr
vftnp discussed
fl 1 «/\ll S!<3Prlin111
1 R48
Tariff
policy rvf
of TT,i
Europe
1848
Tariff, a protective, the policy of a, argued against.
••
Tariff of Mexico, and trade with, views in 1848 in regard to.
T a x , the rates of, in the several wards of New York city
458
Taxatidn under the tariff systems, views in 1847 on.
.
. y y • •• •
141
Teas the quantity and value of, consumed annually, from 1821 to 1847,inclusive, and the
'
amount of duty which accrued on the same, from 1821 to 1832, the average rate of
duty per pound, and views on,
..
. ..
. . .
.25, 123, 228
how much revenue a duty of twenty-five per cent, on the imports of, would y i e l d . .
4
a duty of twenty-five per cent, ad valorem recommended, in 1847, to increase the
revenue
••.
•<••••
- •
..121, 123
T e x a s , the area of, in square miles and a c r e s . .
.
.......
... .
335
Territories of the United States, the aggregate areas of the, in square miles and acres,,
335
Tonnage of the United States, from 1790 to 184.7, inclusive, statement of the. . ,.,
.203, 204
comparative statement of the foreign, coasting, and total, for
various periods, &c..
, c.
. .143, 225
statement showing what the, would be on the 30th June,
1857, if during each of the ten years succeeding the fiscal
year of 1847 the per centage of augmentation were the
same. . . . . .
143, 229
the increase o f t h e , in 1847 over 1846..
229
employed annually, from 1821 to 1848 inclusive
.284, 321
&c., of New York city
. ..
...
.412, 413, 415, 416, 417
of London, annually, from 1790 to 1832
428
Trade—see Free trade.
.
Transfer drafts, ordered by the Secretary of the Treasury in favor of the Assistant Ireasurer of the United States at New Orleans, from January 1 to December 1, 1847, and
views in regard to
128, 130, 180




INDEX.

677

T r e a s u r y circulars to collectors, receivers, treasurers of the mints, and other officers of the
government, under the act of 1846 establishing the constitutional
treasury, the act for the better organization of the T r e a s u r y , &c., in
1846....
31, 33, 35, 36, 37-, 49
to custom-house officers, in furtherance of the act of 1846 reducing the
d u t y on imports, & c . . . .
.52 to 73
73
in 1846
in 1846, to the collectors, &c., giving instructions in regard to the execution of the law establishing the warehousing system,
. . , .76, 101, 368
in 1847, to the collectors, and surveyors of ports acting as collectors, in
regard to estimates, quarterly, of the expenses of collecting the revenue. 230
in 1847 . :,.
.230, 231, 232, 233, 237, 238, 239, 241, 244, 245
and advertisements, in 1848
—
.336, 340
in 1849,
...368
T r e a s u r y drafts, the law and regulations in regard to
31
v .
notices and views in regard to loans and the issue of T r e a s u r y notes
,.134, 224
see Transfer drafts.
T r e a s u r y of the United States, the state of the—see Finances.
funds available to the 1st October, 1848, from loans and
T r e a s u r y notes.
... .
..
319
the amount necessary to be retained in the, under the constitutional "treasury,
121
T r e a s u r y Department, laws for the better organization of the, and providing for the safekeeping and disbursement of the public revenue, and regulations in regard thereto, &c. 31,
33, 35, 36, 37, 41, 49
T r e a s u r y notes, receipts into the T r e a s u r y f r o m , under the act of 22d of J u l y , 1846, and
28th J a n u a r y , 1847—
in 1846—'7
2, 5, 24, 119, 151, 181, 315
in 1847-'8
119, 156, 279, 315, 338
in 1 8 4 8 - ' 9 .
279,318,338
avails in 1847-'8 of, stock issued in funding
.t
. . . 315
avails in 1848-'9 of, stock issued in f u n d i n g , . . Jt
... . . . . . .
.. . . . 318
expenditures in payment of interest on, and in the redemption and reimbursement of, in 1845-'6
'
5, 23, 28
in 1 8 4 6 - 7
2, 24, 127, 155, 159
in 1847-'8
127, 156, 159, .317, 302, 338
in 1848-'9 . .
318, 302, 338, 339
reimbursed monthly, from December 1, 1846, to December 1, 1847. . 128, 180
issued monthly, from the 1st J a n u a r y to November 30, 1847, under the
acts of J u l y 22, 1846, and 28th J a n u a r y , 1 8 4 7 , . .
,128, 181
issued under the acts of J u l y , 1846, and the 1st and 15th sections of the
act of 28th J a n u a r y , 1847
..
338
outstanding, of the various issues in '1845
.28, 29
outstanding, in 1846-'7
29
outstanding, 1st December, 1847
.160, 161
outstanding, 1st October, 1848.
...
334
paid, (and to whom paid,) under the provisions of the act of Congress of
10th of August, 1846, which had been stolen and put into circulation,
and not cancelled. .
...
27, 127, 155, 157, 317
the amount of, received on account of customs, in the F i r s t Auditor's
Office, from the 1st December, 1846, to 1st December, 1847 * .182; 133, 214
statement of the, under the act of 22d J u l y , 1846, issued in exchange for
specie, deposited in 1847, five per cent, interest. .
,128,162,179
statement of, at six per cent., issued in exchange for money deposited to
the credit of the Treasurer of the United States, under the act of J a n u a r y
28, 1847 . . . .
.128,164,179
statement of, issued at five per cent, interest, in exchange for specie, under
the act of 28 th J a n u a r y , 1847
. . . ..
.128,179
the prices of, in the N e w York market in 1846-'7 . . . . . . ..
133, 186
the prices of, in the N e w Orleans market in 1846-'7.
, „ . . .. . .133, 194
the amount of, received from the sales of the public lands the last quarter
of 1846 and the first three of 1847
128, 197
the amount of, received at the custom house at N e w Y o r k , from J a n u a r y
1 to December 1, 1847
128, 197
T r e a s u r y notice in 1846 in regard t o . .
. . . .133, 224
funds available in the T r e a s u r y , October 1, 1848, from, &c
. . . . . 319
amount of, received at the custom-house, N e w Y o r k , in the years 1847
and 1848
.301, 324
and loans, annual receipts into the T r e a s u r y from 1790 to 1848 inclusive,
303, 332
moneys advanced in 1848 to the Assistant Treasurers to purchase
302, 339




678

INDEX..

Treasurer, of the M i n t and Branch Mints—see Treasury Circulars.
T r e a s u r e r , United States—see Assistant Treasurer.
T u r k e y , the national debt, yearly revenue, population, a r m y and navy. of.

.434, 435

U,
United States, views in regard to the resources of the, in their rapid development

. . . . 438

VVessels, the building of—see Ship-building..
(See Mexican war.)
Volunteers, estimates, to p a y , in 1846-'7.
estimates to p a y , in 1847-'8
estimates to p a y , in 1848-'9
expenditures in payment of, in 1845-'6..
expenditures in payment of,"in 1846-'7
expenditures in payment of, in. 1 8 4 7 - ' 8 ' . . . . . . . . . . . . . . .

.>

3
3, 120
121
22
..
155
317

W
W a l k e r , R . J . , Secretary o f t h e T r e a s u r y , reports-of—see Finances—see Warehousing system.
W a r with M e x i c o , the expenditures for—see Mexican hostilities.
W a r Department, expenditures, &c., under the—see Military, service.
W a r e h o u s e system, instructions to the collectors and other officers of the customs in regard
to the execution of the law establishing t h e . . . . . . . . . . .
. . . . . . . . 1 6 , 76
the law establishing the
...
...
,79, 359
forms under the law establishing t h e . . . .
82 to 118
forms-issued in 1849 under the law of 1846-establishing the
373 to 40&
table exhibiting the value and kinds of imports in store on the 30th
September, 1847, under the, and views in regard thereto.
i37, 219
views in 1846"in regard to the projected.
16
report of the Secretary o f t h e T r e a s u r y in 1849' on the
. 343
instructions and forms issued in 1849 to the collectors and other officers
of the customs, under the act of I846'to establish the
359
views of the Committee on W h a r v e s , in N e w Y o r k , of the
430
W a r e h o u s e systems of Europe—
views in 1847 in regard to the commission appointed to examine the.
137
instructions from the T r e a s u r y Department in 1847 to C. C . W a l d e n and D . P , Barh y d t , the commissioners to examine the, and their report thereon, comprehending
all the forms and rules observed in the custom-houses, &c., in the execution of the. 137,
246 to 273, and 477 to 664
W a r e h o u s e system of Belgium, extracts from the customs laws of Belgium, relating to the,
and the regulations of the
. . t ., •
,
572
W a r e h o u s e s in England, description of t h e . . .
529
value of goods in store in the.
137
W a r e h o u s e s , United States, the value and description of foreign merchandise in store on
the 30tli September, 1847
219
statement of the value of merchandise warehoused in the ports
of the United States, from August 6,1846, to September 30,
1848.
..... ......
476
goods sent to the, u n c l a i m e d . . . . . . . .
477
k
W e i g h t s and .measures, the progress in the standard of.
.... ......
309
W e s t e r n country, views concerning the population, commerce,.&c., of the
.. . . . 443
W h a l e fisheries, the increase of shipping in the
436
W h a r f a g e , the rates of, in Boston, Massachusetts, and the regulations in regard to
459
W h a r v e s , report, in 1836, of the Committee on, of the Board of Aldermen of the city of
N e w Y o r k , relative to the erection of a great pier in the N o r t h river
409
Washington city, the debt of—see District of Columbia.
W h e a t , the product and price of, in 1846
10, 50, 51
W o o l , the price of, in 1846.
..
51
Y
Young, McClintock, acting Secretary of the T r e a s u r y , his report, pointing out a clerical
error in the report of December, 1847. „,
275