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k k T A B L E O F C O N T E N T S * M r . H a m i l t o n on Public C r e d i t by M r . H a m i l t o n on a National B a n k by M r . H a m i l t o n on M a n u f a c t u r e s by M r . H a m i l t o n on Establishing a Mintt by by M r . H a m i l t o n on Public C r e d i t by M r . Gallatin on the F i n a n c e s by M r . Gallatin on the F i n a n c e s by M r . Gallatin on the F i n a n c e s by M r . Gallatin on the F i n a n c e s by M r . Gallatin on the F i n a n c e * by M r . Gallatin on the F i n a n c e s Report by M r . Gallatin on the F i n a n c e s * ^ R e p o r t by M r . Gallatin on the F i n a n c e s Report by M r . Gallatin on the F i n a n c e s R e p o r t by M r . Gallatin on the F i n a n c e s " ^ R e p o r t by M r . G a l l a t i n on the F i n a n c e s ^ R e p o r t by M r . Gallatin on the F i n a n c e ? ^Report J ^ Report J. Report ^^Report ^wieport ^Report Report 'J IT7 Report -}• Report ^Report V, Report January, 17.90 Fag<?. 3 December, December, May, 1790 1791 1791 54 78 133 - January, - December, December, October, 1795 1801 1802 157 216 252 1303 November, December, 1S94 1305 December, November, 1806 262 285 297 331 - - - - December, June, - December, - December, November, - - R e p o r t by M r . Gallatin on the F i n a n c e s - . . R e p o r t by W i l l i a m J o n e s , ( A c t i n g Secretary the F i u a n c e s P^ Report by W i l l i a m Jones, ( A c t i n g Secretary the F i n a n c e s ° R e p o r t by G. W . Campbell on the F i n a n c e s <0 VOL. I.—1 CM - December, June, 1807 1808 1809 1809 1810 1811 December, 1812 1813 1813 December, 1814 356 373 391 398 421 443 468 488 499 523 [ 1804] SECRETARY OF THE TREASURY. 285 REPORT ON T H E FINANCES. NOVEMBER, 1804. In obediencc to the directions of the act supplementary to the act entitled " An act to establish the Treasury Department," the Secretary of the Treasury respectfully submits the following report and estimates: REVENUE. The nett revenue, arising from duties on merchandise and tonnage, which accrued during the year 1802, and on which the estimates of last year were predicated, amounted, as will appear by the statement (A,) to $10,154,000. The nett revenue, arising from the same source, which accrued during the year 1803, has amounted, as appears by the same statement, to 11,306,000 dollars; and it is ascertained that the nett revenue which accrued during the first three quarters of the year 1804, considerably exceeds that of the corresponding quarters of the year 1803. Without drawing any inference from the increase of the present year, (an increase which must be ascribed to the situation of Europe, and will, eventually, be diminished by subsequent re-exportations,) that branch of the revenue may, exclusively of the Mediterranean fund, be safely estimated at 10,730,000 dollars, which is the average of the two years 1802 and 1803. The actual payments into the Treasury on account of those duties, during the year ending on the 30th of September last, amount nearly to the same sum;* and there is no reason to suppose that the receipts of the ensuing, will fall short of those of last year. The statement (B) exhibits, in detail, the several species of merchandise, and other sources, from which that revenue was collected, during the year 1803. It also appears that the revenue arising from the sales of public lands is gradually increasing. The statement (C) shows that, exclusively of the September sales, at Cincinnati, three hundred and fourteen thousand acres have been sold during the year ending on the 30th of September last. The proceeds of those sales, calculated on the supposition that every purchaser will be entitled to the discount allowed in case of prompt payment, would yield five hundred and fifteen thousand dollars. And, notwithstanding the difficulties which exist in drawing into the Treasury the moneys collected by the receivers of the remote land offices, it is believed that the actual receipts from that source will, for the ensuing year, exceed four hundred and fifty thousand dollars. The permanent revenue of the United States may, therefore, including the duties on postage, and other small incidental branches, be computed at eleven million two hundred thousand dollars. And the payments into the Treasury, during the year 1805, on account of the temporary duties which constitute the u Mediterranean fund," are estimated at five hundred and fifty thousand dollars; making, in the whole, for the probable receipts of that year, a sum of $11,750,000 • 10,729,708 dollars and 54 cent*. 286 REPORTS OF TI1E [1804 EXPENDITURES. T h e expenses o f t h e year 1805, which must be defrayed out of that revenne, consist o f t h e following items: 1. T h e annual appropriation of eight millions of dollars, for the payment of the principal and interest of the public debt; of which near 3,700,000 dollars will be applicable to the discharge of the principal, and the residue to the payment of interest 2. For the civil department, and all domestic expenses of a civil nature, including military pensions, the light-house and mint establishments, and the expenses of surveying public lands . 3. For expenses incident to the intercourse with foreign nations, including the payment of awards under the 7th article o f t h e British treaty, and the permanent appropriation for Algiers 4. For the military and Indian departments, including the permanent appropriation for certain Indian tribes 5. For the naval establishment, viz:—annual appropriation charged to the ordinary revenue $650,000 Extraordinary expenses of the last expedition against Tripoli.which will be payable in the year 1805, and are chargeable to the Mediterranean fund 590,000 6. Reserved out of the Mediterranean fund, for meeting other extraordinary expenses, which may be incurred under the act constituting the fund Making, altogether eleven million five hundred and forty thousand dollars, and deducted from the revenue of ' leaves a surplus of more than two hundred thousand dollars. MEDITERRANEAN $8,000,000 952,000 294,000 954.000 1,240,000 100,000 11.540,000 11,750,000 210,000 FUND. T h e sum which may probably be received during the year 1S05, on account of that fund, and the payments during that year, which will ultimately be charged to the fund, are included in the preceding estimate of receipts and expenditures; but it is necessary to give a distinct view of the whole amount of revenue and expenses under that head. T h e value of merchandise paying duties ad valorem, which was imported in the year 1802, amounts, after deducting the exportation of the same year, to 31,706,000 dollars. T h e value of the same description of merchandise, imported in the year 1803, amounts to 34,370,000 dollars. T h e additional duty of 2£ per cent, on that description of imported articles constitutes the Mediterranean fund, and, calculated on the average importations of the two years, would have yielded, annually, 826,000 dollars. But several articles, which, in the years 1802 and 1803 paid duties ad valorem, having, in lieu thereof, been charged with specific duties, by an act of last session, are not liable to the additional duty of 2$ per cent. Although the value of those articles cannot be precisely ascertained, it is believed that the de- 1803. J SECRETARY OF THE TREASURY. 287 duction, on that account, will not amount to 50.000 dollars, and that the proceeds of the additional duty may be computed at the annual sum of 780,000 dollars; and for the eighteen months commencing on the 1st July, 1804, and ending >n the 31st of December, 1805, at 1,170,000 dollars. The expenses authorized under the act constituting the fund have been predicated on that estimate, and apportioned in the following manner: 1. For the Navy Department, (in addition to the annual appropriation of 650,000 dollars,) viz: There had been advanced, from the ordinary revenue, prior to the 30th of September, 1804 - $350,000 A further payment will be made before the 1st January, 1805, of - 130,000 To be paid during the year 1805, ou account of this fund, as stated under the 5th item of expenditures for that year " - 590,000 $1,070,000 2. Reserved for other extraordinary expenses which may be incurred for the same object, being the 6th item of expenditures for the year 1805 100,000 $1,170,000 Those duties began to operate on the 1st day of July last; but, as they are payable six, eight, nine, ten, and twelve months after the importation, no part will be paid into the Treasury during the present year; and a sum of only 550,000 dollars is expected to be received in the course of the year 1805. ^or that sum only, credit has been taken in the general estimate of receipts for that year; whilst a part of the 1,170,000 dolllars, chargeable to the fund, has already been expended, and the rest is included in the preceding estimate of expenses for 1S05. The difference, amounting to 620,000 dollars, will, at the end of next year, consist of outstanding bonds, payable in 1806. And, if the additional duty should, as well as the extraordinary expense for which it is appropriated, cease at that time, that outstanding balance will, as it is collected, replace in the Treasury the sum advanced from the ordinary revenues, in anticipation of the proceeds of the fund. For it is hoped that the situation of the Treasury will render it unnecessary to recur to the authority given by the act, to borrow on the credit of the fund. BALANCE IN T H E TREASURY. The greater part of the balance of 5,860,981 dollars and 54 cents, which, on the 30th day of September, 1803, remained in the Treasury, was, in last year's report, considered as applicable to the payments of certain extraordinary demands therein stated. As no payment has been made on that account, during last year, besides ' the first instalment of 888,000 dollars due to Great Britain, nor any other extraordinary expense been discharged than the advance of350,000 dollars, in anticipation of the Mediterranean fund; the balance remaining in the Treasury on the 30th of September, 1S04, still amounted to 4,8S2,225 dollars and "l 1 cents. That sum, together with the estimated surplus of revenue for the year 1805, the sum advanced from the ordinary revenue to the Mediterranean fund, and the arrears of direct tax and internal revenues, may still be considered as sufficient to discharge the balance of 1,776,000 dollars, due to Great Britain : the loan of 200,000 dollars, due to Maryland; and 288 REPORTS OF T H E [1804 two millions of dollars on account of the American claims assumed by the French convention. As the greater part of those demands will be paid in the course of the year 1805, the balance will not, probably, at the end of that year, exceed the sura which it is always expedient to retain in the Treasury. PUBLIC D E B T . It appears by the estimate (D,) that the payments on account of the princi pal of the public debt, have, during the year ending on the 30th of September last, amounted to $3,652,887 15 And during the three years, and a half, commencing on the 1st day of April, 1S01, and ending on the 30th September 1804, to ^13,576,891 86 During the same period, a new debt of thirteen millions of dollars has been created by the purchase of Ixmisiana, viz: Six per cent, stock issued in conformity with the convention $11,250,000 Amount of American claims assumed by the convention, and for the payment of which authority has been given to obtain a loan, two millions thereof being already provided for out of the surplus specie in the Treasury 1,750,000 $13,000,000 Another view of the subject may be given in the following manner: The balance in the Treasury amounted on the 1st day of April, 1801, to . $1,794,044 85 And on the 30th of September 1804, to - 4,882,225 11 Making an increase of . . . . 088,180 26 From which deducting the proceeds of the sales of the bank shares . . . . . . . 1,287,600 00 Leaves for the increase arising from the ordinary revenue - 1,800,580 26 From the 1st day of April, 1801, to the 30th of September, 1804. the following debts, which originated prior to that period, have been discharged: 1st. Payments on account of the domestic and foreign debt,as above stated - $13,576,891 86 2d. First instalment of the sum payable to Great Britain, "in satisfaction and discharge of the money which the United States might have been liable to pay in pursuance of the provisions of the sixth article of the treaty of 1794" 888,000 00 14,464,891 86 Making altogether 16,265,472 12 And from which, deducting fifteen millions chase money of Louisiana, ^ . ^ ^ 1 5 , 0 0 0 , 0 0 0 00 Leaves -$1,265,472 12 1803. J SECRETARY OF THE TREASURY. 289 A difference of more than twelve hundred thousand dollars in favor of the United States. It may be added, that if the revenue shall, during the ensuing year, prove, as is not improbable, more productive than has been estimated, the surplus will be applied towards the payment of the abovementioned sum of 1,750,000 dollars, yet unprovided for, on account of the American claims; and will so far diminish the amount of the loan authorized for that object. From the preceding statements and estimates, it results that the United States have, during the period of three years and a half, ending on the 30th September last, discharged a larger amount of the principal of their old debt, than the whole amount of the new debt, which has been or may be created in consequence of the purchase of Louisiana; and that their existing and growing resources will, during the ensuing year, be sufficient, after defraying the current expenses of the year, and paying more than 3,750,000 dollars on account of the engagements resulting from the French and British conventions, to discharge a further sum of near three million and seven hundred thousand dollars of the principal of the public debt. All which is respectfully submitted. ALBERT GALLATIN, Secretary of the Treasury. TREASURY DEPARTMENT, November 19. 1804. VOL. I.—19 A. A STATEMENT exhibiting the amount of duties which accrued on merchandise, ^ ^ P ^ Z f a t ^ a n c T ances; of debentures issued on the exportation of foreign merchandise; of payments for bounties and allowances, and far expenses of collection, during each of the years 1802 and 1803. Duties on Year. Merchandise. 1802 1803 S14.795.975 87 14,249,958 57 Tonnage. #161,709 79 166,528 91 Passports and clearances. 13,820 00 15,902 00 Debentures issued. Bounties and allowances. Gross revenue. Expenses on collection. Nett revenue. So M SI,197,256 00 2,569,813 00 $134,233 80 151,717 86 $10,6-10,015 86 a 11,710,858 62 a Gross revenue for the year 1803 Deduct interest and storage SI 1,710,858 62 15,999 23 Gross revenue, per statement B 11,694,859 39 $485,451 93 404,428 40 $10,154,563 93 11,306,130 22 o JS H cz> O n H A STA TEMENT of the amount of American and foreign tonnage employed in foreign as taken from the records of the Treasury. American tonnage in foreign trade Foreign tonnage - I I trade, for the year 1803, - 787,424 163,889 951,313 Total amount of tonnage employed in the foreign trade of the United States 17.2 to 100 Proportion of foreign tonnage to the whole amount of tonnage employed in the foreign trade of the United States TREASURY DEPARTMENT, Register's Office, November 14, 1804. - JOSEPH NOURSE, Register. oo o SECRETARY OF THE TREASURY. 1803. J 201 & .4 ST A TEMENT exhibiting the value and quantities, respectively, o/" merchandise on which duties actually accrued during the year 1803, (consisting of the difference between articles paying duty, imported, and those entitled to drawback, re-exported,) a/irf, aiso, o/ //te netf revenue which accrued, during that year, from duties on merchandise, tonnage, passports, and clearances. GOOD* PIVFNO INTTN AD VALOREM 83,296,284 87 1,142,464 80 76,633 00 26,370,279 dollars, at 124 per ccnt 7,616,432 do. 15 do. 383,165 do SO do 4,515,382 67 34,969,876 a b t d t / 8.959,342 gallons, at 29 Spirits, 51,066,934 pounds, at 24 Sugar. 2,760,648 bushels, at 20 Salt, Wines, 1,778,766 gallons, at 31 Teas, 3,174,370 pounds, at 16 Offee. 8,495.260 pounds, at 5 M s l u w , 5,963,275 gallons, at ft All other article* cents average cents average cents cents average cents average cents cents 2.594,259 1,290,034 552,129 603,146 509,138 424,763 298,163 509,116 10 16 00 06 77 00 75 38 11,296,133 49 816,402 95 130 00 Deduct amount of duties refunded Do being difference in calculation 16,532 95 $11,279,600 54 94.0J6 09 34 per cent, retained on drawbacks Extra duty of 10 per cent, on merchandise imported in foreign vessels Nett amount of duties on merchandise Duties on tonnage Duties on passports and clearances Nett revenue 11,512,428 48 166,528 91 15,902 00 - Gross revenue, »s per statement A Accounts not received, estimated at Deduct debentures issued, abstracts for which have not been rendered * Dcduct expenses of collection 138,731 85 11,694,859 39 12,000 00 4,599 50 7,400 50 11,702,259 89 404,428 40 11,297,831 49 [1804. REPORTS OF T H E 292 Explanatory Statements and Notes. Spirits, viz: Grain, proof 1st do. 2d do. 3d do. 4th do 5th do. 6th Other materials, 1st & 2d do. 3d do. do. 4th do. 5th do. 6th 66,419 587 67.545 5,985 2,564 1,890.,888 2,029,723 3,309,341 18,741 386 gallons, at 28 cents 251 do. 31 do. 34 do. 40 do. 50 do. 25 do. 28 do. 32 do. 38 do. 46 do. S316,150 80 19.261 51 181 97 22,965 30 2,114 00 1,282 00 455.055 50 820,388 44 1,058,989 12 7,121 58 177 56 Imported Exported 9,349,923 390,581 duties do. 2,703,621 76 109,362 68 Consumed 8,959 342 Sugar, viz: Brown White 2,594.259 10 - 48,394,771 pounds, at 2* cents - 2,672,163 do. 3 do. 51,066,934 c Salt- Imported, bushels of 56 pounds 3,542,872 Exported 23,635 Amount of bounties and allowances, 8151,717 86, reduced into bushels of salt at the present rates 758,589 782,221 2,760,648 at 90 cents Paying duty, bushels of 56 pounds Wines, viz: Madeira, 1st quality Do 2d do. Sherry and St. Lucar Oporto and Lisbon Burgundy and Champagne Teneriffe, Fayal, and Malaga Other in bottles Do. in casks Gallons, 242,537 gallons, at 58 cents 69,644 do. 50 309,867 do 40 168,922 do 30 3,738 do. : 45 422,638 do 28 43,845 do. 35 511,577 do 23 1,772,768 duties Teas, viz: Bohea 1,909,282 pounds at 12 cents Souchong 225,139 do. 18 Hyson 257,509 do. 32 Other green . . 782,440 do 20 Extra duties on teas imported from other places than India . . . . . Pounds, 3,174.370 duties 1804.] SECRETARY Explanatory THE TREASURY. 293 Statements and Notes—Continued. f AU other article::— Beer, ale, and porter Cocoa Chocolate Sugar candy - " loaf other refined Candles, tallow wax Cheese Soap Pepper Pimento Tobacco Tobacco Snuff Snuff Indigo Cotton Nails Spikes bead Steel Hemp Cables T a r r e d cordage Untatred cordage and yarn T w i n e and packthread Glauber salts Coal Boots Silk shoes Other shoes, for men and women for children Wool cards Playing cards TREASURY OF 182,651 gallons, at 507,679 pounds, at do. ' 951 do. 8,003 do. 9,010 do. 725 do. 21,245 do. 1,683 do. 68.715 do. 34.108 do. 1,82b, 142 do. 437,505 do. 111,739 do. 12,820 do. 1,940 do. 61 do. 130,84-1 do. 28S.330 do. 3.674,769 do. 353,485 do. 2,657,499 cwt. at 7,394 do. 122.545 do. 829 do. 7,816 do. 1,030 do. 1.979 do. M 9 3 bushels, at 419.100 pairs, at 4.443 do. 2,417 do. 54,150 do. 6,199 dozen, at 11 packs, at 884 8 cents 2 3 Hi 9 6t 2 6 7 2 6 4 10 6 22 10 25 3 2 1 1 100 100 180 180 225 400 200 5 75 25 15 10 50 25 DEPARTMENT, Register's Office, November 14, 1804. . J ' JOSEPH NOURSE, Register. c. fO to STA TEMENT of the lands sold in the districts of Zanesville, Marietta, Steubenville, Chillicothe, and Cincinnati, from 1 st October, 1803, to 30/h September, 1804; showing, also, the amount of receipts from individuals, and payments made by receivers, during the same time, with the balances due, both on October 1, 1803, and October 1, 1804. LANDS SOLD. RECEIPTS BY RECEIVERS ('ROM INDIVIDUALS. owes*. Acres. Zanesville Marietta Steubenville Chillicothe Cincinnati - Fn the hands of receivers, October 1, 1803. Purchase money. 11,994.16) 10,084.79 122,990.55 97,733 011 79,230.89 823,168 20,169 851,972 195,810 144,441 38 84 81 994 78 314,253 411 635,563 8 3 | BALANCE DCE ON OCTOBER 1, 1 8 0 4 . orpitra. 82,074 110,392 81,883 36,081 Due by individuals, Oct. 1, 1803 813,463 416,843 291,414 370,638 65 8f>4 54 384 260,432 47 1,092,390 174 Total balance due October 1, 1801. From individuals. By receivers. Zanesville Marietta Steubenville Chillicothe Cincinnati - 818,761 27,865 473,7m 379,869 439,413 314 244 871 15* 564 1,332,697 18» 84,571 3,651 103,58-1 91,933 94,040 634 65 554 904 534 997,782 271 004 62 62 93 PAYMENTS BY RECEIVERS. T h e part On ac't of pur- On ac't of Amount of Into Treasury. for exsurveying forfeitures. chase money. penres. fees. 81,407 5,767 195,091 114,393 75,667 034 60 584 46 114 395,256 824 887 63 901 975 436 00 00 50 00 654 877 75 381 357 13-1 60 51 19 17 25 84,312 232,708 105,675 18,258 98 894 43 06 10 82 434 264 13 2,463 154 1,085 75 a 360,954 65 8518 3,744 9,726 1,356 ! !R 816 32 714 104 18 244 38 20 77 | 8,375 55 441 27 a Paid into Treasury, in stock transferred to the United States Paid in specie, by warrants on receivers • £340,848 91 Paid in specie, by warrants on Treasurer 17,878 74 Payments by receivers, to be covered by warran's 823,332 31,516 577,379 464,796 533,1M J9 - 810,517 71 358,727 68 5,773 76 w PS TJ O S3 -3 GQ O — M PS 375,019 15 Deduct monevs paid by individuals to the Treasurer of the United States, in llic year ending September 30, 1804, included in the above amount of " warrants on Treasurer," but not yet stated in tbe accounts of receivers - $360,954 65 1,630,479 464 | Total sales of land, from the opening of the land offices to 30th September, I80G Amount sold since, as above stated IS OTP,.—The \atest returns received from Cincinnati were to 3lst August, 1801 11,064 50 Total 919,724.65 acres. 314 ,253 411 1,233,978 06| Q0 o S T A T E M E N T C—Continued. £ I ESTIMA Offices. ^ • . p TE showing when the instalments, which compose the balance due from individuals, if <7/ become payable. Remaining due in 1804. 81,385 5,118 6,130 56,781 108,813 Zanesville Marietta SteubenvilleChillicothe Cincinnati - 06 81) 0?| 77| 14 Becoming due in $5^452 175,529 132,784 161,566 45 4«i 59» 35* Becoming dne in 1806. 85,792 7,286 152,1-51 78,974 96,398 09) 72 96 72| 64| Becoming dne in 1HU7. £5,792 5,815 90,532 63,328 51,259 09| 504 03 24| 54 Becoming due in 1808. ' $5,792 4,191 48,651 40,992 21,375 094 664 374 80| 984 Total. 818,761 27,865 473,701 372,862 439,413 344 244 871 154 564 oa a o 23 H po 178,227 82 TREASURY DEPARTMENT, 475,332 8 8 | Register's 341,404 01} Office, November 14, 216,727 5 0 | 121,003 9 2 | 1,332,697 181 O i— 1804. JOSEPH NOURSE, Register. a sa H I 2% REPORTS OF T H E [1804. D. AN ESTIMATE of the principal redeemed of the debt of the United States, from 1st October, 1803, to 30th September, 1804; showing, also, the redemption of the principal of the said debt, from 1 st April, 1801, to 30th September, 1S04. i, ifc i >• u s-'Sf t-i 2. 111 • r a. lis £ c * E e e 28 E. 0 — t c - C ^ .8 - yjC Total deem April Septe Is. i l d t a ~i<m o . £ 0 •2 ON ACCOUNT OF THE DOMESTIC DEBT. The amount of warrants issued on the Treasurer of the United States, according to the quartervearly statement of receipts and expenditures, from 1st October. 1803, to 30ih September, 1804, exclusive of $946 51 repaid into the Treasury, was - $4,367,185 96 Deduct interest which accrued during the same period, calculated quarter-yearly - 3,325,511 74 Payments made in certificates of the debt of the United States, on account of lands purchased Payments to foreign officers, and for certain parts of the domestic debt Payments on account of domestic loans SI,041,674 2**2,>641,516 22 $3,683,190 44 9,206 47 53,146 13 43,939 66 65,997 03 5,773 40 60,223 63 500,00000 1,990,000 00 2,190,0001(0 ON ACCOUNT OP THE FOREIGN DEBT. The amount of warrants issued on the Treasurer of the United Stales, exclnsive of S120,000 repaid into the Treasury, and 84,595 39, the amount of commission to the purchasing agents, was . . . . $2,876,541 22 Deduct one year's interest on the Dutch debt, viz: Amount of one year's interest, including commissions and postage of letters, after deducting for anticipation of interest paid by commissioners guilders 693,000 at 40 cents, is dollars 277,200 00 Deduct gain on exchange 25;641 77 251,558 23 Interest to 30th September, 1804, on the Louisiana six per cent, stock 528,749 93 780,308 16 2,096,233 Of, 5,188,325 20 7,284,558 26 3,652,887 15 9,924,004 71 13,576,891: ! TREASURY DEPARTMENT, Registers Office, November 14,1804. JOSEPH ISOURSE, Registei I N D E X . A. Agriculture, the effect of funding the public debt on, 6. productiveness of, contrasted with manufactures, 78. promoted by manufactures, 88, 92, 104. Alloy, proportion of, used in gold and silver coinage, 135, 141. Why it is used in coinage, 142. Annuity proposed, as a plan for funding the public debt, 17, 43, 99. Army expenses of 1802, estimated, 222. of 1803, do 253. of 1804, do 263. of 1805, do 286. of 1806, do 298. from 1st April, 1801, to 31st March, 1805, 326. of 1807, estimated, 331. of 1SGS, do 358. paid, 374. of 1809, estimated, 375, 392. paid, 399. . (to J« from 1802 to 1807,420. of 1810, estimated, 400. paid, 421. of 1811, estimated, 423. paid, 443, 466. of 1812, estimated, 444. paid, 46S, 484. of 1813. estimated, 470. 489. paid, 490, 492, 499. of 1814, estimated, 500. paid, 523, 532. of 1815, estimated, 530. B. Balances in the Treasury, in 1801, 1802, 1803, 1804, 1805, 1806, 1807, 1808, 1809, 1810, 1811, 1812, 1813, 1814, 223, 224. 255. 263. 287. 298. 332. 357. 374. 391, 399. 422. 443. 468. 488, 499. 525. 554 INDEX. Bank, plan of a national, proposed, 54, 72. capital stock, of what amouut, and bow composed, 72. the United States may be a stockholder, 75. Bank of the United States, a renewal of the charter of; recommended, 3o9. Bank shares, dividends on, in 1901, 221. sold, 254. proceeds of, 317. Banks, benefits resulting from, 55, 97. number of, in the United States in 1790, 65. objections to, considered, 57. stock of, how composed, 59. favor the increase of the precious metals, 61. tend to lower the rate of interest, 67. • _ Bounties considered as a mean of encouraging manufactures, 110, 1J0. C. Claims of American citizens against Prance, amount of, assumed and paid, 264, 266, 288. Coffee, additional duty on, proposed, 22. imported and consumed from 1790 to 1798, quantity of, 241.—See Merchandise imported Coins, foreign, comparative vnlue of, 135. 142. circulation of, to be prohibited, 155. Coins of the United States, of what to be compow>d,nnd how denominated, 152. Commercial restrictions, effects of, on the revenue in 1807-8, 398, 409. Commerce, benefited by funding the public debt, 5. promoted by manufactures, 90, 104. how affected by the French and British decrees, 376. Compensation of officers of Government in 1790,45. Connecticut, claim of, in 1789, 35. Creditors of the United States, not expedient to discriminate between the classes of the, 7. Credit.—See Public Credit. Customs, where paid, and the amount, from 1st April, 1801, to 31st Marcn, 1805, 319. , - it ^nvds Debt, amount of interert on the domestic, from 1776 to 1791, 33. Debt.—See Public Debt. Debts due to States, to be assumed by the United States, 10, 28. supposititious account of the, 30. statement of the, 35. provision for liquidating, 164. Direct taxes, collected in 1801, 221. arrears of, in 1803, 263. receipts from, in 1801 to 1805, 317. receipts from, in 1814, 524, 526. an increase of the. recommended, 531.—See Revenue, *TC- 555 INDEX. Drawback of duties, considered in reference to the encouragement of manufactures, 114. amount of, from 1790 to 1799,239. system of, proposed to be modified, 378.—See Merchandise imported. Duties, additional, proposed on wines, spirits, teas, and coffee, 22. Duties on imports, tariff of, proposed to be modified, 218,227. cost of collecting the, 218, 227. an increase of, proposed, 219,242, 378, 401, 424,448. Duties on imports and tonnage, estimated for 1790, 53. ^ for 1795.170. Duties.—See Internal Duties, Protecting Duties, Imports, Merchandise. Dutch debt, created in 1790, 166. amount of, in 1794, 206. amount of, in 1802, 225. instalments payable to 1809, 250. difficulties in remitting instalments of the, 254, amount of the, in 1803,276. R Embargo, its effects upon the revenue considered, 377, 503. Estimates of receipts and expenditures for 1791, 45, 53. 1795,170,18o,2l4. 1801-2, 222. 1802-3, 253. 1803-4. 263. 1804-5, 286. 1805-6, 298. 1806-7, 331. 1807-8, 357. 1808-9, 375. 1809-10, 399. 1810-11, 422. 1811-12,444,448. 1812-13, 469. 1813-14,488, 500. 1814-15, 526, 530. Exemption of materials nujeriajs ^ for manmawun» ^ Expenditures.—See Receipts and Expenditures. Exportation.—Sec Re-exportation. ^ < F Finances, ,he effects of a nationalbauk in administering.be, c e n t e r e d , 54. Finances, state of the. in 1801, 11802, erK> 1803, 1804, 1805, 1806, 1807, H08, 1809; 21b. 252. 252. 262. 285. 297. 331. 356. 373. (June,) 391. 556 INDEX. Finances, state of the, in 1809, (December.) 398. 1810, 421. 1811, 443. 1812,468. 1813, (June,) 48$. 1813, (December,) 499. 1814, 523. Fisheries, benefited by manufactures, 107. Florida, imports and exports to and from, for tho years 1799 to 1802.20a, 281 to 284. Foreign intercourse, expenses of, from 1801 to 1905, 325 — See Receipts and Expenditure*. Foreign officers, provision made in 1792, for paying certain, 166. France, claims against, assumed by the United Stales, and paid, 264 6,288. Frauds on the revenue, how prevented, 23. Funding system established in 1790, 165. G. Gold and silver, amount of, increased by establishing hanks, 55. proportion of, in the United Stales, in 1790, estimated. 141. 1. Imported articles, and the duty on each.—See Merchandise imparted. Imports from Great Britain in 1810, duties accrued on, 456. a table of duties chargeablo on, in 1801, 227. Imports, value and quantity of, from 1790 to 1800, 229 to 238. amount of duties accrued on, from 1790 to 1799, 239. _ quantity of consumed in the United States from 1790 to duties accrued on, from October 1800, to October 1802, 259, 268. duties accrued on, in the years 1802 and 1803, 290. 1801 to 1804,297.302,311. 1804 and 1805, 337. 1805 and 1806,362. 1806 and 1807,379. 1807 and 1808,403. 1808 and 1809, 426. 1809 and 1810, 451. 1810 and 1811, 47S. 1811 and 1812, 505. 1812 and 1 8 1 3 , 5 4 4 . — c h a n dise imported. „ Incidental revenues received from 1st April, 1801, to 31st March, lbuo, o —See Revenue. Internal duties created in 1794,159. Internal duties, receipts from in 1800, 218, 243. cost of collection, 219. receipts from, in 1801 to 1805,317. outstanding, amount of in 1803, 263 proposed to be increased, 531.—See Revenue. Internal improvements, surplus revenue maybe applied to, 359. Inventions and discoveries promote manufactures, 114. INDEX. 557 L. I^ands.—See Public Lands. Laws creating revenue, and providing for the public debt, reviewed 157 Limitation act, passed in 1793, 167. Loan recommended to supply a deficiency in the receipts. 392, 400 423 r 448, 471, 491. ' ' ' ' Loans, foreign, amount of on 31st December, 1789, 31. I^oans preferred to taxes to meet the exigencies of a war, 377, 401. Loans, amount received from, in 1810, 443. 1812, 468, 486. 1813, 488, 492. 499, 516. 1814, 524, 527.—See Revenue. I*oans, term3 on which they were obtained, 441, 491, 492 to 498; 519 to 522, 523 ; 535 to 540. l»uisiana, provision for the purchase of, 264. imports and exports to and from, for the years 1796 to 1802, 265, 281 to 284. M. Manufactures benefited by funding the public debt, 6. expediency of encouraging, 78. advantages of, 85. encourage emigration, 87. effects of, on commerce and agriculture, 90. objections to encouraging, considered, 91, 103, 107. progress of, in the United States, 102. necessary to the independence of a country, 106. sectional jealousies on the subject of, considered, 107. how to be protected, 109. materials for. exempted from duty, effect of, 113. articles of, requiring particular encouragement, 118. Massachusetts, amount due to, in 1789, 35. Mediterranean fund, created, and estimated product of the, for 1805, 286. duties constituting the, cease 1st January, 1809, 356. a continuation of the, recommended, 378,401,424,448. annual amount of.—See Merchandise imported, and Revenue. Merchandise imported and consumed, from 1790 to 1S00, 237, 241. (paving ad valorem duties) in 1795 to 1800, 234. (the quantity re-exported deducted) in 1801, 312. 1 1 1802,270. 1803, 291. 1804, 303. 1805, 338. 1806, 368. 1807, 380. 1808, 404. re-exported in 1807 and 1808, 409. imported, (the quantity reexported deducted,) in 1809, 427. 1811', 474. 1812, 506. 1813, 545. 55S INDEX. Mint, plan for the establishment of a, 133. expenses of a, how defrayed, 143, 150. M o l a s ^ f ^ r t S and consumed from 1790 U> 1793, quanuty of, 211. See Merchandise imjxjrled. N. National bank proposal to be established, 54. Navy expenses of 1802, estimated, 222. 1803, do 253. 1804. do 263. 1S05, do 2S6. 1806, do 298. from 1st April. 1801, to 31st Maxell, 1S05, 327. of 1807, estimated, 331. 1808, do 358. paid, 374. 1S09, estimated, 375, 392. paid, 399. from 1802 to 1807, 420. of 1810, estimated. 400. paid, 421. 1811, estimated. 423. paid, 443, 466. 1812, estimated, 441. paid, 468, 484. 1813, estimated, 470, 489. paid, 490, 492, 499. 1814, estimated, 500. paid, 523, 532. 1815, estimated, 530. New Jersey, claim of, in 1789, 35. New York, claim of, in 1789, 35. Non-importation act, modification of the, proposed. 425. O. I Officers of Government, compensation allowed to the, in 1790, 45. P. Paper money, the expediency of emitting, considered, 64. Passports and clearances, amount of revenue derived from, in 179" 1798, 241—See Merchandise imported. Penalties and forfeitures for infractions of the revenue laws, to be districted to informers and custom-house officers, 425.—See Revenue. Postage of letters, receipts from, in 1901 to 1805, 317.--See Revenue. Post Office, revenue derived from the, to he applied to the sinking fond, review of the law establishing the, 159. Premiums, effect of granting, on agriculture and manufactures, 113. INDEX. 559 Protecting duties on imports considered as a bounty on domestic fabrics, 109. the constitutional power to levy considered, 112. Prohibitions of imports and exports may be resorted to for the encouragement and protection of manufactures, 109. Public credit, plans for the support of, 3, 157,172. a national bank necessary to the support of, 54. essential to the prosperity of the nation, 197. defined, 198. Public debt, advantages of funding the, 5, 98. nature of the provisions for funding the, 7,161. of what it consists, 14, 168, 347. plans for funding the, 17, 43, 45, 161. plans for redeeming the, 22, 27, 165. may constitute a part of the capital of a national bank, 72, 75, 157. laws relating to the, reviewed, 157. plan for completing the system for liquidating the, 173. revenues pledged for the payment of the, 168. amount of foreigu and domestic, in 1790, 14, 22, 31, 33. 1795, 169, 201 to 210. 1802, 223, 248, 250, 279. when it may be redeemed, estimated, 172, 225, 251, 354. amount paid, in 1802, 254. 1803, 264, 276. 1804,288,296. 1805. 299, 310. from Apr. 1.1801, to March 31,1805,328,329,333. in 1806, 333, 345. plan for consolidating the, proposed, 333,347 to 3oo. amount of the, in 1806, 349. KK Q94 0 f ; i Q estimated amount that maybe paid, m 1809 to 1824,354,355. amount paid in 1807, 358, 371. in 1811, 445,461. from April 1, 1801, to January 1,1812, 463. amount on Januan; 1, 1812, 446, 464. amount paid m 1812, 468,480. ^ 1814, 534. t t ^ ^ T T ^ J l pubbc debt, j S ^ f f i f f i S S 1795 and 1801, 1 f i 219 244 p r ^ S f e of'the. pledged for the public debt, 163. S d T l S O l , 220, 246. intrusions on the, to be prevented, 221. sold in 1802, 252, 257. 560 INDEX. Public lands, sold in 1S03, 262, 274. 1801, 285, 291, 315. 1905, 297, 308. receipts from, in 1801 to 1805, 31 / . sold in 1806, 331, 34*. 1807, 356. 368. 1808. 373, 385. 1809.398, 411. sold from 1800 to 18(0, 421, 432. sold in 1811,448. , tI . JJO may be applied as a bounty to soldiers enlisting, 44b. sold in 1M2, 478. 1813, 511. Ibl l, 550. * m Public vessels sold, 222. I ] 3 | R. Receipts and expenditures, estimated for 1790, 45, 53. 1795, 170. comparative view of the, for 1795, 214. in 1801, 216. 1802, 252. 1803. 262. 1804,285. ^ from April 'l, 1801, to March 31, 1805, 317 to 330. in 1806, 331. 1807, 356. 1808.373. 1809. 391, 395, 398, 419. 1810, 421, 438. 1811,443. 466. 1812, 468, 482, 486. 1813, 488, 492, 499, 616, 532. 1814, 523, 533. Re-exportation of foreign merchandise in 1807 and 1908, 409. Revenue, frauds of the, how to be prevented, 23. plan for increasing the, 24. laws relating to, reviewed, 157. for what purposes pledge, 168. how to be increased in the event of war, 361, 378. an increase of, proposed, 219, 242, 378, 401, 424, 448, W4from what sources derived, and the amount in 1795, * 1801,216- ' s a l T 1901 to 1805,317, 322. 1908,395. 1809, 419. 1810, 438. 1811, 466. v INDEX. 561 Revenue, from what sources derived, and the amount in 1812,482,492. 1813, 492, 516, 518. 1814, 532-3. See Receipts and expenditures. S. Salt imported and exported from 1790 to 1800, 233. and consumed from 1790 to 1798, quantity of, 241.—See Merchandise imported. Salt duty expires 1st January, 1808,356. a renewal of the, recommended, 449, 490.—See Merchandise imported. Sinking fund, plan of a, proposed, 27. established in 1790, 165, 171. made permanent in 1792, 166, 169. operations January, proceedingsofofthe, the,toin1st1802, 260. 1795, 167, 1/1, -411. state of the, in 1806, 346. in 1810, 440. in 1813, 498. South Carolina, claim of, in 1789, 36. Specie increased by the operation of banks, 55. Si>ecie pavments suspended by banks, 529. S & 3 mortal WgS&SffSV^X " Merchandise imported. Saints foreign and domestic, additional duties proposed on, 22. Stamp dutfesexpire 4th March 1803 218 2 2 1 . - ^ / ^ , State debts, ought to be assumed bv the Union, 14, 28, 30. amount of; estimated, So, provision for liquidating the, 164. S ^ i ^ E S SSSrESbTlW S u r p K ^ y C f t * 'o — ' quantity of, 2 4 , - S , - P — S ' 359 ' T. J KO I^IHPW 449. 490.—See Direct taxes. Taxes, internal, proposed to be tenea - S e e Merchandise >mPorlJ r - from 1790 to 1799, 240. Tonnage, amount of American and foreign, from 17W to ^ Tot, i.—36 in 1803, 290. 1804, 302. 1805, 337. 1806, 362. 1807, 379. 1808, 394, 403. ^ INDEX. Tonnage, amount of American and foreign, in 1909, 426. 181 li 473. 1812, 805. 1813, 544. Tontine, proposed as a plan for funding the public debt, 20, 45. Treasury notes, amount authorized in 1812, 469, 492. treasury u 1813,492.499,518. 1814, 525. 529, 532, 541-2. in circulation in 1814, 529. an increase of the rate of interest on, proposed. 530. y. Virginia, claims of, in 1789. 36. W. Wines, additional duties proposed on, 22. imported and consumed, quantity of, from 1790 to 1798, 241.Maxhandisc imported. END OF T H E F I R S T VOLVME.