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TABLE

k
k

OF

CONTENTS

*
^Report by Mr. Hamilton on Public Credit
J ^ Report by Mr. Hamilton on a National Bank J. Report by Mr. Hamilton on Manufactures
^^Report by Mr. Hamilton on Establishing a Mintt
^ w i e p o r t by Mr. Hamilton on Public Credit
^ R e p o r t by Mr. Gallatin on the Finances
Report by Mr. Gallatin on the Finances
'J IT7
Report by Mr. Gallatin on the Finances
-}• Report by Mr. Gallatin on the Finances
^Report by Mr. Gallatin on the Finance*
V, Report by Mr. Gallatin on the Finances
Report by Mr. Gallatin on the Finances
*^Report by Mr. Gallatin on the Finances
Report by Mr. Gallatin on the Finances
Report by Mr. Gallatin on the Finances
"^Report by Mr. Gallatin on the Finances
^Report by Mr. Gallatin on the Finance?

Fag<?.
-

-

Report by Mr. Gallatin on the Finances
. . R e p o r t by William Jones, (Acting Secretary

P^ Report by William Jones, (Acting Secretary

° R e p o r t by G. W . Campbell on the Finances

<0

VOL.

I . — 1

CM




-

the Fiuances
the Finances
-

January,
December,
December,
May,
January,
December,
December,
October,
November,
December,
December,
November,
December,
June,
December,
December,
November,
December,
June,
December,
December,

17.90
1790
1791
1791
1795
1801
1802
1303
1S04
1305
1806
1807
1808
1809
1809
1810
1811
1812
1813
1813
1811

3

54
78
133
157
216
252
262
285
297
331
356
373
391
393
421
443
468
488
499
523

[1813.

REPORTS OF' T H E

488

REPORT ON T H E FINANCES.
JUNE, 1813.

In obedience to the act supplementary to the act entitled " An act fo
establish the Treasury Department/' the Acting Secretary of the Treasury
respectfully submits the following report:
T h e receipts into the Treasury from the 1st of October,
1812, to the 31st March, 1813, have amounted to
- $15,412,116 25
'l*he balance in the Treasury, on the 30th September, 1812,
was
2,362,652 69
Making together

.

.

.

.

.

§17,775,068 94

The expenditures, from the 1st October, 1S12, to the 31st
March, 1813, have amounted to
$15,919,334 41
1/eaving a balance in the Treasury, on the 1st of April,
1813, of
.
.
1,855,734 53
$17,775,068 94
The enclosed statement (A shows, in detail, the several sources from
which the receipts were derived, and the branches of expenditure to which
the disbursements from the Treasury were applied.
Pursuant to the act of 8th February last, subscriptions for a loan of sixteen millions of dollars were opened on the 12th, and again on the 25th
of March last. But, although a thirteen years' annuity of one per cent, was
offered, in addition to a six per cent, stock at par, for the money which
might be subscribed, it being apparent, from the result of the first subscription, that the whole amount could not be obtained on those terms, proposals
in writing were invited. Offers, exceeding by about a million of dollars the
amount wanted, were received, some demanding a thirteen years' annuity
of one and a half per cent., in addition to six per cent, stock at par, but
most of them requiring a six per c e n t stock, at the rate of 88 per cent.
On these terms, leaving to the subscribers the option, the loan was effected
In conformity with the public notification, the same terms w e r e extended
to those persons who had subscribed on the first opening of the subscription,
and they have the same option ; which, if the stock at the rate of 88 per
cent, be taken, is equivalent precisely to a premium of thirteen dollars sixty-three cents and seven elevenths of a cent, for each hundred dollars loaned to the Government
T h e enclosed papers, under the letter B, are copies of the several public
notices given on the subject, and a statement of the monevs respectively
obtained by open subscriptions, and by written proposals, and showing, a k j
the sums obtained and payablein each place where subscriptions w e r e o p e n e d .
Of that sum of sixteen millions of dollars, thus obtained on loan, there
was paid into the Treasury, prior to the 1st of April, 1813, the sum oi



1S14.J

SECRETARY OF THE TREASURY.

'

g439

$1,086,737 50, which makes a part of the moneys received previously to that
day, as stated in thc statement A.
T h e resources for the residue of the year 1813 consist of the following
5
items, v i z :
1. l he remainder of the loan above mentioned - $14,913,262 50
2. The sums payable on account of customs, and of the
sales of public lands, estimated at
9,320,000 00
3. T h e five millions of dollars in Treasury notes, authorized by thc act of February 25th, 1813 5,000,000 00
Say

- _$29,230^000 00

The expenses for the last nine months of the present year are calculated
as followeth, viz:
1. Civil list, and all expenses of a civil nature, both foreign and domestic
.
.
.
.
.
$900,000 00
Payments on account of the principal and interest of the
public debt, as per estimate C, herewith
- 10,510,000 00
3. Expenses on account of the War and Navy Departments 17,820,000 00
$29,230,000 00
Of the sum of £1,855,731 53, remaining in the Treasury on the lst of
April last, a small part may be considered as applicable to such extraordinary
expenses, already authorized, as may arise during the remainder of the year;
and for the same object, the sum of 1.000,000 of dollars, authorized by an
act of thc State of Pennsylvania to be loaned to the United States, but
which was not offered in time to be accepted as a part of the loan of sixteen
millions, may be considered as a resource.
In this estimate, the whole sum of five millions of dollars, authorized to
be issued in Treasury notes, is taken as a part of the resources of the present
year. But, as it is not deemed eligible to increase the amount of Treasury
notes in circulation, and as three millions only of those authorized by the
act of 1812 were issued in that year, and are reimbursable in the course of
the present year, it is respectfully suggested that, in lieu of issuing two millions of the five millions authorized by the act of February, 1813, Congress
should authorize an additional loan for the same amount; it being made a
condition of such loan, that its terms should not be higher than those of the
loan of sixteen millions, already effected.
T h e provision already considered is for the service of the present year
°nly ; that which will be necessary for the year 1814, requires an early attention. It is difficult to estimate, with accuracy, the sum which will be
received into the Treasury from the revenue as now established.
During a state of war, the customs, at the present rate of duties, have been
heretofore estimated to produce five millions of dollars. T h e additional
tonnage duty, imposed upon foreign vessels, by the act of lst July, 1812,
producing about 200,000 dollars a year, is not included in that sum.
It is believed that, during the year 1814, a greater sum than five million
two hundred thousand dollars ought not to be relied upon, as receivable
into the Treasury from custom-house duties. T h e sum arising from sales of
public lands may be estimated at six hundred thousand dollars, making
together 5,800,000 dollars. T h e interest alone, on the public funded debt,
on temporary loans, and on the Treasury notes, which will become payable



490

REPORTS OF' T H E

[1813.

in that year, will amount to four million four hundred thousand dollars.
The other engagements, on account of the principal of the funded debt, of
temporary loans, and of Treasury notes, which will become reimbursable in
that year, amount to 7,150,0t)0 dollars ; exceeding, together, by more than
five million seven hundred thousand dollars, the estimated amount of the
receipts into the Treasury, derived from the revenue as now established.
This view of the subject is sufficient to evince the necessity of a speedy
and effectual provision for the service of that and the ensuing years. The
mode and the extent to which this provision should be carried have been
heretofore suggested from this department to (Congress, and have received
the consideration of that body.
The expenses of the peace establishment of the United States, and the
interest on the public debt, including that on the loans made for the prosecution of the war. arc believed to be the least sums that ought, under any
circumstances, to be raised within each year. These, if the expenses of the
peace establishment are taken at the sum necessary for the ordinary expenditure of the United States, previously to the additional armaments mode
in the year 1812, with a view to an approaching state of war, and including
the interest on the loans of the year 1812^13; and also of that which
will probably be necessary in the year 1811, will amount, during that year,
to eleven million four hundred thousand dollars, viz :
The expense of the peace establishment, exclusive of the additional
force authorized by the acts passed dnring the year 1812, may be estimated
£7.<WU,uw
nt —
The interest on the public debt, during the year 1814, will be
as follows:
On old funded debt
.
.
.
.
$2,100,000
On 6 per cent, stock of 1812, including temporary
loans, received in part of the loan of eleven
millions, which will remain unpaid in 1814 500,000
On 6 per cent, stock of 1813
- 1.090.000
On Treasury notes, which will be reimbursable in
270,000
1814, say on 5,000,00# dollars, at 5» per cent.
3,960,000
On the loan for the year 1814, interest payable
440,000
within that year
IOMOOJOOO

The revenue, as now established, being estimated to produce
Would leave to be raised
-

$5,800,000
5,600,000

T o cover the above sum of *
The internal taxes heretofore proposed were estimated to
produce And the duty of 20 cents a bushel on salt imported, which,
though estimated heretofore at only 400,000 dollars a year,
during a state of war, yet, as the consumption considerably
exceeds 2,000,000 of bushels, may be estimated to produce
Making the sum wanted



-

-

$5,000,000

600,000
S5,600^

1813.)

SECRETARY OF THE TREASURY.

491

Although the taxes, if early laid, may be brought into operation in the
commencement of the year 1814, yet, as they cannot be expected to have
their full effect during that year, some auxiliary resource will be required.
This may tie found in the sum of 1 , 5 0 0 , 0 0 0 dollars, which is the excess of
the sinking fund for the present year, over the demands on that fund, according to the existing engagements of the United States. This sum of
1 , 5 0 0 , 0 0 0 dollars may be carricd to the sinking fund for the year 1 8 1 4 ,
and will be wanted, in addition to the annual appropriation of 8,000,000 of
dollars, to meet the engagements on account of the public debt which must
be fulfilled during that year.
As reliance must be had upon a loan for the war expenses of the year 1814,
the laying of the internal taxes may be considered, with a view to that object, as essentially necessary: in the first place, to facilitate the obtaining of
the Isan ; and. secondly, for procuring it on favorable terms.
It is ascertained that the terms of the loan, for the present year, would
have been more favorable if the taxes had been previously laid; and it is
obvious enough that, by affording a security for the regular payment of the
interest, and the eventual reimbursement of the principal, more stable, and
less liable to be weakened or cut off by the natural effects of war upon external commerce, than a revenue depending, as that of the United States now
does, almost wholly upon such external commerce, capitalists will advance
with the greater readiness, and at a lower rate of interest, the funds neces^
sary for the prosecution of the war; public confidence will be insured, and
the means afforded of preserving the public credit unimpaired: a measure
of the utmost importance, in a country like ours, where, from the lightness
of the demands made upon the people during the continuance of peace, the
extraordinary expenses of a state of war can be supplied only by a resort
to that credit.
The resources of the country are ample; and if the means now proposed,
and those heretofore recommended from this department, are adopted, it is
believed they may be fairly and fully brought into action.
All which is respectfully submitted.
W. JONES
Acting Secretary of the Treasury.
T R E A S U R Y D E P A R T M E N T , Jane 2, 1 8 1 3 .




492

REPORTS OF' T H E

[1813.

Receipts and expenditures at the Treasury of the United States, from
the 15/ of October, 1812, to the 31 st of March, 1813.
Cash in the Treasury, subject to warrant
Received for customs
$4,720,001 44
arrears of direct tax 105 52
sales of public lands 150,596 95
cents coined at the mint
2,780 00
3,060 00
fees on letters patent 39 70
postage of letters
sea mens stores sold, and fund
284 45
for relief of seamen
1,984 96
fines, penalties, and forfeitures
20,892 51
repay men tsof money advanced
prize money for navy pension
3,645 72
fund
.
.
.
300 00
interest on Treasury notes

82,362,652 69

5,203.691 25
Treasury notes, (act of 1812,) 4,752,500 00
Treasury notes, (act of 1813.) 32,000 00
4,784,500 00
Loan of 11 millions, (1812,) 4,337,487 50
Loan of 16 millions, (1813,) 1,086,737 50
- 10,208,725 00
15,412,416 25
17,775,068 94
Expenditures, viz:
On account of the civil department
440,473 76
M i seel laneous expen scs
368,518 64
Diplomatic expenses 48,087 37
Military department • 9.039.275 19
Naval department
2,690,752 20
Public debt 3,332,226 95
Cash in the Treasury subject to warrant, March 31, 1813

15,919,334 41
$1,855,734 53

B.
The United States loan of 16,000,000 dollars has been taken up in ^
following manner and proportions:
First subscription on the 12th and 13th March, 1813
- $3,956,400 t
Second subscription, 25th to 31st March, 1813
1,881,800 w
Proposals made on the 5th of April, of. which only
^ m
$10,161,800 could be received
11,106,000 *



1S14.J

SECRETARY OF THE TREASURY.'g

To which may be added the amount intended to be
loaned by the State of Pennsylvania; the proposals
lor which, not being received in time, could not be
admitted -

493

1,000,000 00
$17,944,200 00

Being 1,914,200 dollars more than the sum of 16,000,000 authorized by
law, and actually borrowed.
That sum of 316,000,000 has been subscribed, and is payable at the following places:
New Hampshire
Portsmouth
$40,000
Massachusetts
Portland
120,000
Salem
183,600
Boston
75,300
Rhode Island
Providence
67,800
New York
New York
5,437,100
Albany
283.500
Pennsylvania
6,858,400
Philadelphia
Maryland 1,950.800
Baltimore
442,500
Columbia Washington
49,000
Virginia
Richmond
35,000
Petersburg
103,000
Norfolk
354,000
South Carolina
Charleston
16,000,000

B. 1.
Whereas, by an act of Congress passed on the eighth day of February,
one thousand eight hundred and thirteen, the President of the United
States is authorized to borrow, on the credit of the United States, a sum
not exceeding sixteen millions of dollars, (so, however, that no engagement
or contract shall be entered into which shall preclude the United States
from reimbursing any sum or sums thus borrowed, at any time after the expiration of twelve years from the first day of January, one thousand eight
hundred and fourteen:) And whereas, by the said act, so much of the funds
constituting the annual appropriation of eight millions of dollars, for the
Payment of the principal and interest of the public debt of the United
States, as may be wanted for that purpose, after satisfying the sums necessary for the payment of the interest, and such part of the principal of said
debt as the I nited States are now pledged annually to pay and reimburse,
is pledged and appropriated tor the payment of the interest, and for the
reimbursement of the principal of the stock now to be created; and the
faith of the United States is pledged to establish sufficient revenues for
making up any deficiency that may hereafter take place in the funds now
appropriated for paying the interest and principal as aforesaid: And whereas the President of the United States did, by an act or commission under
his hand, dated the seventeenth day of February, one thousand eight hun


494

REPORTS OF' T H E

[1813.

dred and thirteen, authorize and empower the Secretory of the Treasury to
borrow, on behalf of the United State®, a sum not exceeding in the whole
sixteen millions of dollars, and to make the necessary contracts for the
same, pursuant to the act of Congress above recited:
Now, therefore, the undersigned. Secretary of the Treasury, in pursuance
of the act of Congress, and the authority from the President of the United
States above mentioned, doth hereby, on behalf of the United States, contract and engage in manner following, to wit:
1. Books tor receiving subscriptions to a loan of sixteen millions of dollars, for the use of the United States, shall be opened on the twelfth day of
March next,
- At the New Hampshire Union Bank.
At Portsmouth, N. H.
At Salem, Mass.
- At the Merchants Bank.
At Boston, Mass.
- At the State Bank.
At Providence, R. I. •
- At the Roger Williams Bank.
At the city of New York,
- At the Manhattnn Company, and
the Mechanics' Bank.
At Albany, - At the New York State Bank, and
the Mechanics and Farmers' Bank.
At Philadelphia,
- At the Bank of Pennsylvania,
tne Farmers' and Mechanics' Bank, and
the Philadelphia Bank.
At Baltimore,
- At the Bank of Baltimore,
the Commercial and Farmers'Bank, and
the Union Bank of Maryland.
At the city of Washington, - At the Bank of Washington, and
the Office of the Bank of Columbia.
At Richmond, Va. - At the Bank of Virginia.
At Charleston, S. C. - At the State Bank, and
the Planters and Mechanics' Bank.
And at any other incorporated bank, in any of the above named cities or
towns, which shall open books for receiving subscriptions as aforesaid, and
give stated notice thereof.
Which books shall continue open for receiving subscriptions during the
ordinary hours of transacting business at the said banks, on Friday, the
twelfth, and Saturday, the thirteenth day of March next. If more than sixteen millions of dollars, in the whole, shall be suhscribed. tbe surplus shall
be deducted in proportion to the sums subscribed in each place r e s p e c t i v e l y ,
by a reduction of the subscriptions exceeding four thousand dollars. Rot
no reduction shall be made of thesubscripUons made by any persons OT t o
dies corporate, holders (at the time of subscribing) of stock issued under toe
act of March 14, 1812, called "six per c e n t stock of 1812," unless the aggregate of their subscriptions should exceed sixteen millions of dollars; ®
which case, the surplus shall be deducted by a rednction of tbe proportionally highest subscriptions. If any subscription shall be thus r e d u c e d , to®
amount of such reduction shall be forthwith returned to the subscriber fro®
whom such reduction shall have been made.
,
2. No subscriptions will be received for a sum less than one hundred W"
lars, nor for a fractional part of a hundred dollars.
3. For every hundred dollars which may be subscribed, there shall •»
paid, at the time of subscribing, twelve dollars aud fifty cents : and s " *
sum of twelve dollars and fifty cents on the first day of each of the ensues



1S14.J

SECRETARY OF THE TREASURY.'g335

495

months of April. May, June, July, August, September, and October, uue
one
thousand eight hundred and thirteen, "respectively. Each subscriber, at
e t,me
payng "»»y of the above instalments, afier the first, may pay all
or any number of the subsequent instalments, and will be entitled to receive
interest, at the rate of six per centum per annum, on the amount thus
paid, from the time of actual payment.
4. Ou the failure of payment of any instalment of the sums subscribed,
according to the tenor of the third article, the next preceding instalment
of twelve dollars and fifty cents, which shall have been paid for every
hundred dollars subscrilwd, shall be forfeited to the United States.
5. Each subsequent instalment must be paid at the same bank at which
the origiual subscription was made, and where the first instalment was
paid.
0. The cashiers of the respective banks where subscriptions are received, shall, within twenty days after the time of subscribing, give certificates statin? the sums subscribed and payment made, and on which the
payments of the subsequent instalments, when made, shall be respectively
endorsed; which certificates shall be assignable by endorsement and delivery of the parties in whose favor they may be issued, until the completion
oHhe payments required by the tenor of the third article.
7. After the completion of the payments aforesaid, the proprietors of the
certificates of the cashiers, on which such payments have been completed,
on surrendering the same at the loan office of the State in which the subscription and paymeuls shall have been made, shall be entitled to receive
from the commissioner of loans certificates of funded capital stock for the
amount thus subscribed and paid, bearing an interest of six per centum per
annum from the time when the said instalments shall have been paid, respectively, and payable quarter-yearly at the several loan offices, or at the
Treasury of the United States, where the same may stand credited, and
shall, moreover, receive from the commissioner of loans a certificate entitling such proprietor to an annuity or annual sum, payable quarter-yearly,
for thirteen years, commencing on the first day of January, one thousand
eight hundred and thirteen, of one dollar on every hundred dollars thus
subscribed and paid; which certificates of annuity shall constitute a separate and distinct stock, and may be sold, assigned, and transferred to and
from the books of the Treasury, or of the several loan offices, separately
and distinctly from the aforesaid funded capital six per cent, stock. And
the said funded capital stock, and the said annuities, shall be transferable,
by their respective proprietors in person, or by their attorneys duly constituted, in the same manner as the present funded debt of the United States,
and in pursuance of the rules which have been, or which may be, established* relative to the transfer of the said debt.
8. After the payment of the fifth instalment, such of the proprietors of
the certificates of the cashiers of two hundred dollars and upwards, as may
then be desirous of funding the same, may, on presenting them at the loan
office of the State in which the subscription and payments shall have been
made, receive from the commissioner of loans certificates of funded capital six per cent, stock, for the amount of the first four instalments, or one
moiety of the sum expressed in the certificates of the cashiers; and also
certificates for one moiety of the thirteen years' annuity of one dollar on
the hundred dollars subscribed. But no certificate of funded capital six
Per ceut. stock including a fractional part of a hundred dollars, or certificate of annuity including a fractional part of a dollar, will be issued.



496

REPORTS OF' T H E

[1813.

9. After the last day of December, in the year one thousand eight hundred and twenty-five," and after reasonable notice to the creditors, which
shall be given by an advertisement in seme public newspaper printed at
the seat of the Government of the United States, the paid capital six per
cent, stock shall be redeemable at the pleasure of the United Suites, by the
reimbursement of the whole sum which may at that time stand credited to
any proprietor on the books of the Treasury or of the loan offices, respectively. And the payments of the said annuities for thirteen years shall
cease and determine on the first day of January, one thousand eight hundred and twenty-six. when the certificates of the same shall be surrendered
up and cancelled.
10. So much of the funds constituting the annual appropriation of eight
millions of dollars for the payment of the principal and interest of the public debt of the United Suites, as may be necessary for the regular payment
ofthe interest, and for the reimbursement of the principol ofthe stoclc, and
for the regular payment of the annuities to be created under this contract,
together with the faith of lite United States for iu» due fulfilment, arc hereby pledged in pursuance of, and according to, the terms and conditions of
the act of Congress hereinbefore recited.
Given under my hand and the seal of the Treasury of the United States,
at Washington, this twentieth day of February, one thousand eight
hundred and thirteen.
Secretary of the

Treasury.

B2.
UNITED STATES LOAN.
T R E A S U R Y D E P A R T M E N T , March 18, 1813.
Notice is hereby given, that the books for receiving subscriptions to the
loan authorized by the act of Congress of February 8th, 1813 will again <
be opened on the 25th day of this month, on the same terms and conditions
as heretofore, and continue so open till the 3lst day of this month, unless
sooner closed by public notice, at the following places, and for the following sums respectively, that is to say:
At New York, for five millions of dollars, at the Manhattan Company,
Mechanics' Bank, City Bank, Merchants' Rink, Bank of America.
At Philadelphia, for five millions of dollars, at the Bank of P e n n s y l v a n i a ,
Farmers and Mechanics' Bank, Philadelphia Bank, Stephen Girard s BankAt Baltimore, for one million seven hundred thousand dollars, at the
Bank of Baltimore, Commercial and Farmers' Bank, Union Bank of Maryland, Mechanics' Bank, Marine Bank.
At Washington, for three hundred thousand dollars, at the Bank oi
Washington, office ofthe Bank of Columbia.
Proposals will also be received by the Secretary of the Treasury, unUl
the fifth day of April next, from any person or persons, body or bodies corporate, who may offer, for theiwelves or others, to subscribe for the whole or
part of the residue of the loan aforesaid, which may not have been subscribed for prior to the 1st dav of April next. T h e proposals must distinctly state the amount offered to be loaned, the species of stock or stocks whico




1S14.J

SECRETARY OF THE TREASURY.

'

g497

a!

N ! h e p [ i c ? * * * W l H a , , o w for the same. Unless
in the
thatZ I Z t n , E n J t S f t ^ ^
P r o P°"«^ will be understood
the Treasur
m-.ntl v H n i r^ h J
^ ^ T
y in fo»r ^
mstalthat theslork
i 5th „ d , ayS °L A p U l > J u n e > A u ? u s t > and OctobeVnext; and
l f p m ^ T h a ^ u L ^ i r r e d m n a b l G t l U t h e 3 1 s l d a 7 of December, 1825.
made a
r e o u u X T J n ! f
' ^ u n t , u f f together to a greater sum than t h a t
t e r m s
S ^ t r s t H f T s i ' r ^
^ . — n to stockholders of
w l n c h ' l £ 0 r ^ I S H ^ ' T "j t e r m s fr °m one another, or from those on
a rC dy
Anril npv . P m "
' ? > ° r ma>r *» m a d e P r i o r ^ the 1st day of
al^i^i
°! d, ** a C C e p , e d ' aI1 t h e P a r t i e s ' including those who have
SUb5Cribe
M r f ^ , r i , b e d ' °r
P r i o r t 0 t h e l s t d a y ^ April next, shall
6 SamC f
t 0 a11 t h e
<ZE£Z Z
° ° u ^
°P t i o n e i t h e ^ of the terms
oncred by them, or on which they have subscribed, or of those offered by
any other persons, and which shall have been accepted.
r e c e i v e d for
doll • " V 1 W , H
a sum less than one hundred thousand
pilars. But a commission of one-quarter per cent, will be allowed to any
person collecting subscriptions for the purpose of incorporating them in one
proposal, to the amount of one hundred thousand dollars or upwards, provided that such proposal shall be accepted.
r i f A I , r ' w P ? p O S a , S m U S t ^ t r a n s m i t t e d by duplicates j one directed to the
o i y o f \Y ashingion, and the other (under cover of the cashier of the Bank
of Pennsylvania,) to Philadelphia.
ALBERT GALLATIN,
Secretary of the Treasury.

B 3.
UNITED S T A T E S LOAN.
T R E A S U R Y D E P A R T M E N T , April 15, 1813.
Those persons who have subscribed to the United States loan of sixteen
millions of dollars, prior to the lst day of the present month of April, ars
hereby notified, that terms different from those under which they made their
subscriptions have been allowed to the persons who have taken the remainder of the said loan of sixteen millions; and that, conformably to the public
notification from this department, of the 18th of March last, those who subscribed prior to the lst of April have the privilege of taking the terms thus
subsequently allowed ; and which terms are as follows, viz :
1st. That the subscriber shall receive a six per cent, stock, the interest
Payable quarter-yearly, redeemable at the pleasure of the United States, at
any time after the end of the year 1825, at the rate of eighty-eight per cent;
°r 10t) dollars in stock for 88 dollars in money.
Or, 2d. That the subscriber, for every hundred dollars in money shall
receive one hundred dollars in the same species of six per cent, stock, and
an annuity for thirteen years, from the lst day of January last, of one dollar
and fifty cents, payable quarter-yearly.
The subscribers who may wish to avail themselves of these terms will
present their scrip-certificates to the cashier of the bank by whom they
^ere issued, and will express, in writing, on the face of the same, which of
the above terms they will elect to accept, and will receive from the cashier
YOL. 1 . — 3 2



REPORTS OF' T H E

498

[1813.

ncw scrip-certificates conformably thereto; the payments upon which, and
funding whereof, are to be effected in the same manner as before.
Such subscribers as have already completed their
certificates of funded stock and annuities on the terms " r . ^ .l pro
M
Tre to surrender the same to the c o m m o n e r of l ^ i s o r t o ^ e l ^ r
X , ™ t h e c a J m a y be,) m conformity widi the election they may thus
raake

ALBERT GALLATIN,
Secretary of the Treasury.
C.

Vieu> of the tinkbiz fund, for the year 1813.
The balance belonging to this fund, remaining unapplied j j
on the 31st December, 1812, (per report of commissioners $3,550,369
to Congress, of February 6, 1813,) was H,000,000
The annual appropriation for the year 1-13 11,550,369
Making together
"
I.036,868
There was applied, during the first quarter of the year 181J

11
00
11
28

Leaving to be applied, in the last three quarters of that year $ 1 0 ^ 3 , 5 0 ^
The manner in which the amount will be applied in the year 1813 is as
follows:
Interest and reimbursement of old six per cent, and de- $2,160,000 00
ferred stocks estimated at
180,000 00
Interest on exchanged six percent, stock of 1812
485,000 00
Interest on three per cent stock
5:000 00
Interest on 1796 six per cent stock
680,000 00
Interest on Louisiana stock, and charges
Interest on six per cent, stock of 1812, including tempo700.000 ( »
X
rary bank loans and some arrearages
470,000 00
Interest on new stock of 1813 1 , 3 5 0 , 0 0 0 00
Principal of temporary loans reimbursable in 181"
' Treasury notes, including those payable on the 1st and
11th January, 1814, which must be provided for by the 31st
December, 1813
$3,804,500
205
Interest on the same say 4 010,000 00
7^,000
T h e r e was paid on account of the above, in the 1st quarter of 1813
'

^

gg

J ^ Z

o 000 000 00

Leaving payable in the last three quarters of that year, say -,
And will leave to t e applied to the purchase of stock, or
-13,500 $
to be carried to the sinking fund, for the year 1814
$10,513,



1S14.J

SECRETARY OF THE TREASURY.'g339

REPORT ON THE FINANCES.
DECEMBER,

1813.

In obedicncc to thc directions of the "Act supplementary to the act entitled ' An act to establish the Treasury Department,'" the acting Secretary
of the Treasury respectfully submits the following report and estimates :
The moneys actually received into the Treasury during the year ending
on the 30th September, 1813, have amounted to - $37,544,954 93
^ iz : Proceeds of the customs, sales of lands, small branch
of revenue, and repayments
-$13,568,042 43
Proceeds of loans, viz :
Loan of eleven millions under theact of March
14th, 1812
- $4,337,487 50
Loan of sixteen millions,under
the act of February 8,1813 14,488,125 00
Treasury notes under the acts
June 30,1812,and February
25, 1813 - 5.151,300 00
—
23,976,912 50
As will appear by the annexed statement E, 37,544,954 93
Making, together with the balance in the Treasury on the
lst of October, 1812, which was
.
.
.
2,362,652 69
An aggregate of

$39,907,607 62

The payments from the Treasury, during the same period,
have amouuted to
32,92S,S55 19
Viz: For civil, diplomatic, and miscellaneous expenses, both
foreign and domestic
- $1,705,916 35
Military department, including militia and
volunteers, and the Indian department - 18,484.750 49
Navy, including the building of new ships,
and the marine corps
- 6,420,707 20
Public debt:
On account of interest
- $3,120,379 08
Principal reimbursed
- 3,197,102 07
6,317,481 15
As will also appear by the annexed slatem't E, $32,928,855J9
And left in the Treasury, on the 30th of September last - 6,978,752 43




$39,907,607 62

500

REPORTS OF' T H E

[1813.

The accounts for the fourth quarter of the year 1813 have not yet been
made up at the Treasury; hut the receipts and expenditures, during that
quarter, have been nearly as follows:
Receipts from the customs, sales of lands, and small branches of the revenue, about
$3,300,000 00
Loan of sixteen millions
ISS^SSi ™
Loan of seven and a half millions
jMtMHJJ U
O
Treasury notes
w
12,330,000 00
Making, with the balance in the Treasury on the 1st of
October, 1813, of
An aggregate of about

;

The disbursements have been, for civil, diplomatic, and
miscellaneous expenses, about Military department
Naval department
Public debt, (of which near $6,000,000 was on account of
the reimbursement of principal)
•
And leaving in the Treasury, on the 31st Dec. 1813, about

6,978,<52 43
$19,309,000 00
$400,000 00
6,887,747 00
1,249,145 10
7,087,994 96
4,685,112 95
$19,3^9,000 00

Of the sums obtained on loan during the year 1813, and included in the
receipts above stated, an account of the terms on which they were nude has
been laid before Congress, excepting as to the Treasury notes issued under
the act of February 25, 1813, and the loan of seven and a half millions obtained under the authority contained in the act of the 2d of August, 1813.
The annexed statement, marked F, will show the whole amount received
for Treasury notes during the year 1813, and at what places they were sold
or disposed of. Three million eight hundred and sixty-five thousand one
hundred dollars, of the notes issued under the act of June 30th, 1812, became due in the course of the year 1813, or in the present month of January, and have been paid off, or the funds placed in the hands of the commissioners of loans for that purpose.
The papers under the letter O will show the measures taken under the
. act of August 2d, 1813, authorizing a loan of seven million five hundred
thousand dollars, and the manner in which that loan was obtained. 'I he
terms were eighty-eight dollars and twenty five cents in money for one
hundred dollars in stock, bearing an interest of six per cent; which if equivalent to a premium of thirteen dollars thirty-one cents and four-ninths ofa
cent on each hundred dollars in money loaned to the United States. W
this sum of 7,500,000 dollars, about 3,850,000 dollars was paid into the
Treasury during the year 1813, and the remainder is payable in tne
months of January and February, 1814.
For the year 1814, the expenditures, as now authorized by law, are e
timated as follows:
*
-nnflflft
1. Civil, diplomatic, and miscellaneous expenses
2. Public debt, viz:
'
:
Interest on the debt existing previous to the war $2,100,000



1S14.J

SECRETARY OF THE TREASURY.'g

501

Interest on debt contracted since the war, including Treasury notes, and loan for the year 1814 $2,950,000
p . ,
. .
5,050,000
f
Keimbursement of principal, including the old
six per cent, and deferred stocks, temporary loans,
and Treasury notes
.
7,150,000
3. Military establishment, estimated by the Secretary of
>\ ar for a full complement (including rangers, sea fencibles,
and troops of all descriptions) of 63,422 officers and men,
and including ordnance, fortifications, and the Indian department, and the permanent appropriations for Indian treaties,
and for arming and equipping the militia 4. iNavy, estimated forl5,7b7 officers, seamen, and boys,
and for l,b69 marines, and including the service of two 74
gun ships for four months, and three additional frigates for
six months of the year 1814, and the expenses of flotillas on
the coast and on the lakes
Amounting, altogether, to

-

$12,200,000

24,55

0

6,900,000
$45,350,000

The ways and means already provided by law are as follows:
1. Customs and sales of public lands. The nett revenue accruing from
the customs during the year 1812 amounted, as will appear by the annexed
statements A and B, to 13,112,000 dollars. Of this sum, about 4,300,000
dollars was produced by the additional duties imposed by the act of July 1,
1812. T h e duties which have accrued during the year 1813 are estimated
at 7,000,000 dollars. The custom-house bonds outstanding on the lst January, 1814, after making a due allowance for insolvencies and bad debts, are
estimated at 5,500,000 dollars; and it is believed that 6,000,000 dollars may
be estimated for the receipt of the customs during the year IS 14. The sales
of public lands, during the year ending September 30,1813, have amounted
to 256,345 acres, and the payments by purchasers to 706,000 dollars, as
will appear by the annexed statement C. It is estimated that 600,000 dollars will be received into the Treasury from this source, during the year
1814. The sum, therefore, estimated as receivable from customs and lauds,
is
.
$6,600,000
2. Internal revenues "and direct tax. From the credits allowed by law on some of the internal duties, and from the delays incident to the assessment .and collection of the direct
tax, it is not believed that more ought to be expected to come
into the Treasury, during the year 1S14, than the sum of
3,500,000
3. Balance of the loan of seven and a half millions already contracted for
4. Balance of Treasury notes already authorized
1,0/0,01!U
5. Of the balance of cash in the Treasury, on the 31st December, 1813, amounting, as above stated, to about $4,680,000
There will be required to satisfy appropriations
made prior to that day, and then undrawn, at least 3,500,000



502

[1813.

REPORTS OF' T H E

And leaving applicable to thc service of lhe year 1814

-

$1,180,000
16,000.000

So that there remains to be provided, by loons, the sum of

29,350,000
$45,350,000

Although the interest paid upon Treasury notes is considerably less
than that |>aid for the moneys obtained by the United States oil funded stock,
yet thc certainty of iheir reimbursement at the end of one year, and the facilities they afford for remittances and other commercinl operations, have
obtained for them a currency which leaves little reason to doubt ihnt they
may be extended considerably beyond the sum of five millions of dollars,
hitherto authorized to be annually issued. It will perhaps be eligible to
leave to the Executive, as was done last year, a discretion as to the amount
to be borrowed upon stock or upon Treasury notes, that one or thc other
may be resorted to, within prescribed limits, as shall be found most advantageous to the United States.
**
The amount estimated to have been reimbursed of thc principal of the
public debt, during the year ending on the 30th September last, including
Treasury notes and temporary loans, will appear, by the estimate marked
D , to have been 3,201,368 dollars. As the payments on account of the
loan of sixteen millions had not then beeu completed, and the stock had
consequently not been issued therefor, it is not practicable to state wiih precision the amount added to the public debt during that year : but afler deducting the abovemeniioned reimbursement of 3,200,000 dollars, this addition will not fall short of 22,500,000 dollars.
The plan of finance proposed at thc commencement of the war, was, to
make the revenue during each year of its continuance equal to thc expenses
of the peace establishment and of the interest on the old debt then existing
and on the loans which the war nught render neccssary; and to defray the
extraordinary expenses of the war but of the proceeds of loans to be obtained for that purpose.
The expenses of the peace establishment, as it existed previous to the armaments of 1812, made in contemplation of war, but including the eign
regiments added to the military establishment in the year 1808, and the
augmentation of the navy in actual service, authorized in 1809, amounted;
after deducting some casual expenses of militia and other incidental item*
to about
V
.
87,000,000
The interest on the public debt payable during the year 1814,
will be: On the old debt, or that existing prior to the present

war

82,100,000

On the debt contractcd since the commencement of
the war, including Treasury notes, and allowing
660,000 dollars for interest on the loan which must be
made during the year 1814, (a sum as small as can be
estimated for this object,)
2,950,000
- 5,050,000




Making

.

.

-

flWgg?

1S14.J

SECRETARY OF THE TREASURY.'g

503

T h e act ual receipts into the Treasury from the revenue, as now established, including the internal revenues and direct tax, are not estimated, for
the year 1814, at more than
$10,100 000
Viz: from customs and public lands - $6,600,000
Internal revenues and direct tax
3,500,000
10,100,000
If to this sum be added that part of the balance in the Treasury on the 31st December, 1813, which has been estimated above
to be applicable to the expenses of the year 1814, and which,
upon the princi
above .stated, may be considered as a surplus of revenue beyond the expenses of the peace establishment,
and ofthe interest on the public debt for the year 1813, and
therefore applicable to the same expenses for the year 1814,
which sum is estimated at
-

1,180,000

And making together
.
.
.
.
- 11,280,000
There will still remain to be provided new revenues capable of
producing
.
.
.
.
.
.
770,000
$12,050,000
But as the internal revenues and direct tax, when in full operation, will
produce, in the year 1S15, probably 1,200,000 dollars more than is estimated to be received from them in the year 1814, it will rest with Congress
to decide whether it is necessary that new and additional revenues should
now be established.
To what extent the existing embargo may reduce the receipts into the
1 reasury from the customs during the year 1815, it is difficult to estimate,
asfhe operation of the war had reduced the receipts from the customs nearly one half from that which was received during the year preceding the
war.
The former embargo reduced the revenue from the customs nearly onehalf the amount of that which was received during the year preceding its
full operation. In this case, however, the transition was from the full receipt o f a peace revenue to the entire suspension of exportation and of foreign commerce in American bottoms. It is not, therefore, to be presumed
that the existing embargo will cause a reduction of the war revenue in the
proportion ofthe peace revenue: moreover, the effect ofthe act prohibiting
the importation of certain artieles necessarily increases the demand and
enhanees the value of those which may be lawfully imported; and the high
price they bear will produce extraordinary importations, and in part compensate for the prohibition to export any thing in return ; to this may be
added the duty on salt, the operation of which is yet but partial.
T o the amount o f t h e defalcation o f t h e revenue caused by the embargo
whatever it may be, must be added the difference between the amount of
the interest payable in the year 1814 on the loan of that year, and the
whole a m o u n t o f t h e interest on the said loan payable in the year 1815,
as well as that part of the interest which may be payable in the year
1815 on the loan of that year. The sum of these items will be required



504

REPORTS OF' T H E

[1813.

for the year 1615, in addition to the revenues now established, except
430,000 dollars, being the difference between the estimate increase in the
receipt of the internal revenues and direct taxes, and ihe 770,000 dollars remaining to be provided for in the foregoing estimate.
Willi these considerations, it is submitted whether it may not be expedient and prudent to provide new revenues, capable of producing either the
whole, or such part of the 770,000 dollars unprovided lor, as may appear
necessary to fulfil the public engagements, and secure to the financial operations of the Government the confidence, stability, and success which is
due to its fidelity and to the ample resources of the country.
All which is respectfully submitted.
>V. JONES,
Acting Secretary of the Treasury.
T R E A S U R Y D E P A R T M E N T , January 8 , 1 8 1 1 .




A.
STATEMENT
exhibiting the amount of duties which accrued on merchandise, tonnage, passports and clearance, • of
debentures issued on the exportation of fore irn merchandise • nf »,«#/,»,„/. f r Si
«"<* clearances, oj
expenses of collection, during the years 1811 2
?
' 7
°
"nd dances,
and for
D TE OS
CtS
Years.
Merchandise.
1811
1813
1

810,427,413 31
14,990,188 51
*

Tonnage.

8134,363 30
155,353 00

Passports and
clearances.
819,737 70
14,938 00

Debentures
issued.

Bounties and allowances.

Gross revenue.

83,337,345 00
1,543,633 19

8784 13

88,343,484 08 8440,929 46
a 13,617,847 33 475,838 95

87,902,559 63
13,143,008 37

13,586,838 99

-

-

Foreign tonnage
Total amoont of tonnage employed in the foreigD trade of the United S t a t u

-

Proportion of foreign tonnage to the whole amount of tonnage employed in the foreign trade of the United States

pa

o

of the amount of American and foreign tonnage employed in foreign trade for the year 1812
taken from the records of the Treasury.
~

American tonnage in foreign trade

00
E
O
50

813,617,847 32
31,008 33

Gross revenue, per statement B




Nett revenue.

n
-a

a Gross revenue for the year 1813
Deduct interest and storage

A STATEMENT

Expenses of
collection.

£
~

Tons

H
M
M
H
W
M
&
e3
S
O

667,999
47,099

715jQ98
6.6 to 100

o
<
w

506

REPORTS OF' T H E

[1813.

B.
STA TEMENT
exhibiting the value and quantities, respectively. of
merchandise on which duties actually accrued during the year 1812,
(consisting of the difference between articles paying duty, imported, >
and those entitled to drawback, re-erported;) and, also, /Ac nett revenue
which accrued, during that year, from duties on merchandise, tonnage,
passports, and clearances.
O O P TN D T M A V L R M
O M A I G CU
D AO E
3,576,643 dollar*, at 12* per cent.
14,£44,367
do.
55
do.
893,816
da
15
do.
4,354,056
do.
30
do.
49,506
do.
20
do.
1014,996
do.
40
do.
a Additional duty on 823,827,414, at 2* per d .

38
75
90
80
20
40
35

6,247,650 78

23,827,414

Spirits,
2,764,135
Do.
1,338,593
Sugar, 38,647,755
Do.
21,518,327
Wines,
789,413
Do.
662,499
Tea«,
2,258,514
Do.
386.815
Coffee, 10,994,700
Do.
5,155.476
Molasses, 5,651.471
Do.
1,721,977
All oCber articles

S417,080
3,711,091
134,076
1,306,216
9,901
43,598
505,685

gallons,
do.
pounds,
do.
gallons,
do
poinds,
do
pounds,
do.
gallons,
do.

at 2 7 . 6
56 6
at 2 . 5
5
at 29.4
58 3
at 21.4
44.9
at 5
10
at 5
10
.
.

-ents average
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do
do.
do.
do.
do.
.

761,791
758,760
979,552
1,078,569
232,040
3%,958
484,541
173,06n
549,735
515,517
282,573
172,197
488,131

68
78
48
25
97
82
32
30
00
60
55
70
88

13,110,050 II
T o which add—Ditties collected on merchandise, the
particulars at which could not be ascertained, after
deducting therefrom duties refunded, and difference in
calculation
.
.
.
.
.
.
34 per rent retained on drawbacks
Extra duty of 10 per cent, on merchandise imported in
foreign vewels
.
.
.
.
.
.
Extra duty of 15J per cent, on merchandise imported in
foreign vessels
.
.
.
.
.
.
Nett amount of duties on merchandise
Duties on tonnage .
Light money
.

-

Duties on passports and clearances

86,065 63

913,195,135 74
55,974 97

21,278 65
144,168 63

165,447 28
13,416,55799

131,325 01
24,027 99

155,353 00
14,928 00

Grow revenue, as per statement A
Deduct expensea of collection
Nett revenue

.




.

.

.

13,111,000 0*

1313.1

SECRETARY OF THE TREASURY.

507

Explanatory Statements and Notes.
« AddiUooal doty of 2| per cent
.
.
.
.
.
3 | pet c*nL rrtainrd ua drawback
.
.
.
.
.
Extra doty of 10 per cent, on merchandise imported in foreign vessels

$595,685 35
786 54
1,143 00
597,614 89

55,255 gallons, at 28 cents
1st proof,
16,12
56 do.
do.
1st da
114
do.
29 do.
2d do.
do.
25 do.
Other materials, lst and '2d d o 1,116,696
do.
50 do.
464,531
lst and 3d do.
do.
do.
3d d o 1,063.759
do.
56 do.
417,126
3d do.
do.
32 do.
527,246
4th do.
da
64 do.
425,677
4th do.
do.
38 da
224
5th do.
do.
76 do.
14.H32
5th do.
do.
46 do.
841
6th do.

i Spirits—prain

•

-

- 35,976,034 pounds, at 2§ cents
20,253,0o7
do.
5 da
- 2,671,721
do.
3 do.
1,265,290
do.
6 do.)

White

60,166,082
d Wines—Madeira, lst
lst
2d
2d

quality
do.
do.
do

-

Borgondy and Champagne
Sherry and St. Lncar

•

Claret, &c-, in bottles

-

Lisbon, Oporto, &c.
Teneriffe, Fayal, and Malaga
All other, in casks

53,175 gallons, at 58 cents
116 do.
do.
53,116
50 do.
do.
21,166
100 do.
do.
3,619
45 do.
do.
1,052
90 do.
do.
514
40 do.
do.
16,153
80 do.
do.
11,073
35 do.
do.
15,536
70 do.
do.
8,339
30 do.
do.
38,733
60 do.
do.
52,287
28 do.
do.
371,925
56 do.
do.
287,613
23 da
do.
271,673
46 do.
do.
245,938

Soochong

-

Hyson
Other gTeen

41,342
45,691
40,380
303,708
112,169
1,818,571
191,924

85
85
63
40

30,842
61,014
10,583
3,619
473
462
6,461
8,858
5,437
5,837
11,619
31,372
104,139
161,063
62,484
113,131

08
56
00
00
40
60
20
40
60
30
90
20
00
28
79
48

617,999 79

do.
do.
do.
do.
da
do.
do.

12
24
18
36
32
61
20
40

cents
do.
do.
do.
do.
do.
do.
do.

10,865
9,922
8,234
14,536
97,186
71,788
363,714
76,769

28
08
38
80
56
16
20
60

4,602 56

Extra don on teas imported from
other places than India -




899,400
1,002,651
80,151
75,917

2,058,121 73

1,451,912

« Teas—Bohea

40
12
06
00
50
52
56
72
28
12
32
86

1,5-20,482 46

4,102,728
c Sugar—brown

15,471
9,199
33
279,174
232,265
297,852
233,590
168,718
272,433
85
11,272
386

2,644,329

657,609 62

508

[1813.

REPORTS OF THE
Explanatory

Statements

and Notes—1Continued.

Quantity.

/ All other articles, TO:

Bate
E i c o n of E K W of of
importation exporta- doty.
orer ttporu- ti«*> orer
importation.

Escess of
duties over
drawback.

Cents
DomesUc spirits, 1st proof,
gallons
1st do. do.
4th do. (from
molasses) do.
Beer, ale, and porter
do.
Beer, ale, and porter
do.
Cocoa
.
.
. pound*
Cocoa
do.
Chocolate
do.
Chocolate •
do.
Sugar randy
•
da
Sugar candy
•
do.
Almonds
•
- d a
Almonds
.
do
Fruits—Currants do.
Currants •
da
Prunes and plums
do.
Prunes and plums
do.
FiT"
da
Figs
do.
Ba a t e , in jar?, Ac.
do.
Baisins, in jar*, Ac.
do.
Baisins, all other •
do
Baisins. all other do.
Candles—Tallow .
do
W a x or spermaceti
do.
W a x or .spermaceti
do.
Cheese
.
do
Cheese
.
.
.
do.
Soap
do
Soan
do
Tallow
dp
Tallow
do.
Spices—Mace
do.
Nutmeg"* •
do.
Cinnamon .
do.
Cloves
.
do.
Pepper
do.
Pepper
do
Pimento •
.
do.
Pimento do.
Cassia
do.
Cassia
•
do.
Tobacco, manufactured, other
than snuff and segar*
•
do.
Tobacco, manufactured, other
.
do.
than snuff and segars
Snuff
da
Snuff
.
do.
Indico
do.
fndi«o
do.
Cotton
.
.
.
do.
Cotton
.
.
.
do
Starch
.
.
.
do
Starch
do




28
1,219

7
U

233
496
46,030

4

748,637
f07
HI
179
58

4
3
6

34

8

Ml
83

8

61,022

4

8

33.5fr»
134.495
44,090

4

8

1,694
237,ITS
13,711
40-2,-JSH

4

2
4

2

42,066
•48.615
1,475

4

11

4,492
4,318

8,088

12

14,713

7
14

8,281

8

1*17,236
184,196
493,9!»1
128,669

4

II

3,750
18,369
15,028
4«.236
69,681
132,138
94,639
53,345
166,596
50,238

3
2
6

3

36,386
389
4,179

79 29
N
39 6
7.366 84
572 48
29,945 4*
85 II
4 N6

80 59
II 96
6,764 10

8,440
671
5,379
881
67
4,743
549
8,045

88

84

80
HO
76
56
64
76
1,6N* 64
6,729 82
44 85

8*9 08
250
1.039
1,150
2,144
7.367

56
91
94
72
84

19,294
4,180
15.866
3,785
4,267
6.663
4,010

40
86
56
56
60
84
84

7 ( M 86
3,Ni0 07

186
50

80
40
6

18
4
8
4

8

130 33

8,172
5,077
38
356
9,663
67,734

SI 96
170 66

18
10

80
25
50
3

6
3

6

609
3
71
2,415
33,867
1,061
51,561
11
250

24
80
00
75
00
58
58
67
74

1813.]

509

Quantities.
/ All other articles, viz :

Gunpowder Glue
Glue .
Iron—anchors and sheet
anchors and sheet
slit and hoop slit and hoop Pewter plates and dishes
Nails K
.
Spikes
Quicksilver Quicksilver Paints—ochre, in oil
dry, yellow
Spanish brown
Spanish brown
while and red lea<
white and red lead
L«ad. and manufactures
lead
,Lead. and manufactures
lead
Seines
Cordage, tarred
tarred
uniarred
un tarred
Cables
8teel
Steel
Hemp
Hemp
Twine
Twine
Glauber salts
CoalCoalMaltFish—-dried or smoked
dried or smoked
pickled salmon
mackerel
all other
all other
Glass—black quart bottles
black quart bottles
window, not above
by 10 inches
window, not above
by 10 inches
window, not above
10 by 1-2 inches
window, not above
10 by 12 inches
window, all above
window, all above
Segars
Segars

Excess of
importation
over exportation.

pounds
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do.
do
do.
do.
do.
do.
do.
cwt.
do.
do.
do.
do
do.
do.
bushels
do.
do.
quintals
do.
barrels
do.
do.
do.
gross
do.
100 sq.ft.

Rate
Excessof
of
exporta- duty,
tion over
importation.

Centf

6,414

8
4
8

9,608
42,130
101,659
KM,491
176,131
423,422
4,430
739,462
94,874
74,386
9,579
336
91,573
4,533
22,135
87,751
1,133,148

H

3

1

2
8
4
2

6

12
3
1

1

2
2
4

405,271

1

826,955
686
83,969
153,786
46,139
23,184

2
8

2
4
21

33,557
2,332,223
5,626,212
17,529,323
293,300
125,221
566,303
6,306
4,737
96,456
6

Excess of
Excess of
duiies over drawback
diawback. over duties.

5
2
100
200
100
200

40,1

$513 12
384 32
3,370 40
1,524 88
12,134 73
1,761 31
8,468 44
354 40
29,578 48
1,897 48
4,463 16
1,149 48
10 08
915 73
45 33
442 70
1,755 02
45,325 92
4,052 71
16,539
54
1,679
6,151
1,153
1,159

10
88
38
44
47
20

2,332
11,253
17,529
587
502
4,534
27
236
9,645
1

71
21
96
50
75
21
21
85
60
20
50
00
00
20
20
00
00
00

9,095
690
86
73
380
925
2,470

800
400
5
10
20
50
100
200
120
40
80
60
120

1,413

160

2,260 80

1

9,095
1,380
103
29
304
555
2,964

do.

3,952

320

12,646 40

do.

151

175

264 25

do.
do.
do.
M.
do.

2S2

350
225
450
200
400




26
463
7,745

2,668

987
58
2,083
15,490
10,672

00
50
50
00
00

$671 14

[1613.

R E P O R T S OF T H E

510
Explanatory

Statements

and Notesr—Continued.

Quantity.
Hate

/ All other articles, vix:

of
Excess of ; Excess of
importation j exporta- doty.
over exporta- tion over
impona-

E x c e w of
duties over
drawback.

Excess of
drawback
over du-

««•

Cent*
Boots
P* i r *
Boots
.
do.
Shoes and slirrx-rv—silk
do.
silk
do.
kid and morocco
do.
kid and morocco do.
children's
•
do.
children's
do.
- dozens
Cards, wool and cotton
Paints, ochre, dry yellow - pound*

150
75
85
'JO
15
30
10

414

1

3.099
58!
6,943
5,144
53

106

90

3
7,765

2

50

S&ll 00
75

993 00
930
1.041
1,543
5
91
1
155

50
45
90
30
00
50
90

5119 .789 96
14,637 38

Deduct exccss of drawback over do
ties
-

m
914,637 38

488,111 88

TREASURY

DEPARTMENT,

Registers




Office, December 0, 1813.
JOSEPH

.
NOURSE, Register

c.

CD

STATEMENT
of the lands sold in the districts of Marietta, Zanesville, Steubenville, Canton, Chillicothe,
Cincinnati,
Jcffersonville, anti Vincennes, from Oct. 1, 1812, to Sept. 30,1813 ; showing, also, the amount of receipts from
individuals
and payments made by receivers, during the same time, tpi'M Me balances due, 6o//t on Oc/. 1, 1812, awrf Oc/. 1, 1813*

w

CO

Lands sold, after deducting lands reverted.

Lands reverted.

Receipts by receivers.

Payments by receivers.

50

M
H
50

In the hands Due by indiof receivers, viduals, Oct.
October 1, 1, 1812.
1812.

Offices.
Acres.

3,569.63
Marietta
25,611.80
Zanesville
47,107.85
Steubenville 23,410.3.1
Canton
21,006.07
Chillicothe
90,619.06
Cincinnati
31,654.53
Jeffersonville a 13,366.31
Vincennes

256,345.58

$7,462
51,863
108,389
46,820
44,368
211,593
63,309
26,732

36
C
O
76
66
98
54
06
62

5,005.38
5,706.86
700.00
13,198.11
81,812.03
784.00
16,365.03

560,540 58

123,571.44

a T h i s is the total quantity sold at Vincennes




On nc't of pur- On account Into Treasury.
chase money. of forfeitures.

Acres.

Purchase
money.

$5,845 86
13,831 51
11,774 71}
35,419 88
55,014 4H)
46,815 53J
12,38-2 821
3,009 771

$22,576
148,874
208,716
125,235
76,879
790,882
127,926
98,014

98
64
811
32
01J
47
761
304

184,091 13} 1,599,106 334

M
O

$6,887
59,113
96,129
47,565
54,449
300,593
57,254
21,062

47
05
614
104
974
734
65
154

643,055 754

$2,351
2,607
70
7,500
42,408
78
8,242

85,105 00
75
57,851 01
714 83,450 65
00
27,421 67
00 105,402 53
65 360,939 49
40
54,420 40
534 21,977 60

63,262 08

761,568 35

T h e part for
expenses.

$604
2,551
3,317
2,568
2,166
10,200
2,518
1,743

Repayments.

IT)
23 $294 00
386 734
35
58
52 98
21
194 982 914
35
94
108 29

25,669 954 1,824 92

T h e lands reverted exceeded the lands sold in that office, during the period embraced by this statement.

O
"3
M
^
50

H
fe
G
5d

C
M

S T A T E M E N T C—Continued.]
Total sales of land, from the opening of the land offices
A c r w
to October I, lKl'J
Amount sold since, as above stated
-

Balance due 1st October, 1813

Offices.
From individuals

By receivers.

U

Total balance
doe October 1,
1813.

S?
4,OW,863.(6)

Deduct lands reverted at Vincennes; the quantity reverted there during the last year, being greater than the
quantity sold thete during that period, could not be dedocted from the >alea at that office
•
•
•

I6.36J.IM
4.006,48H 63)

Marietta
Zan^Tilte
Steubenville •
f anion
Chillicothe
<Y innati
Jeffersonville •
Vincennes

S23.I51
141,625
*}0,976
184,4'JO
66.79N
701,882
133,9HI
70,961

87
19
96
87)
05
87)
17)
71

37,084
14,603
93,357
8.061
9,348
17.695
19,777
8,«m

83
10
34
73)
96)
32
181
631

»30,176
156,288
244,334
138,555
76,140
719,577
146,758
79,438

10
*9
30
61
30)
50)
30
34!

Balance due by individuals, 30th September, 1819
Amount of land sold since
Deduct amount of lands reverted at Vincennes
Received on a r c o m l of purchase money •
Balance doe by indiridnali

1.483,861 10)

GENERAL

101,348 74)

LAND OFFICE,




December

-

3 7 , 0 8 0 , 4 8 4 36
560,510 58
8.541,1184 94

38.730 06
8,508*,294
8J

PJ

8 , 1 5 9 . 6 4 6 91)
39,730 06

5»
-a
09
o

9J126.9I6 H6)
643,056 76)
1,483,861 10)

—.

K

1.586,909 84T

20,

1813.

30

1,599,106 33)
560,540 58

EDWARD TIFFIN,
Commissioner of the Getieral Land Office.

Ca.
0/

the ands
t[

sold

<x>

lhe

STATEMENT
,
Wssissippi
Territory, from the 1st of October, 1812, to the 30th September,
t «»
1813; showing, also, ^amount
of receipts Jrom individuals, and payments made by receivers, during thc same time;
with the balance due, both on the
of October, 1812, and 1 st of October, 1813.

I

Offices.

Madison county
W e s t of Pearl river East of Pearl river -

Lnnds soli , afler deLands
ducting lan •s reverted. reverted. In hands
of receivers, lst
October,
1812.
Acres.
Acres.
Dollars.

21,194.09 42,527 08
5,844.62 11,689 24
3,221.27 6,442 54

Receipts by receiPayments by receivers,
j Balance dne 1st Oct.
Due by indivers.
1813.
viduals, 1st
October.
1812.
On acco'ni On ac't Into thf T h e part Repay- Prom indi- By receiofpurchase of forfei- Treasure. for ex- m e n t .
viduals.
vers.
money.
tures.
penses.

484.42 8,783 411 195,975 624 55,364 751
798.26 44,799 25 341,918 39 23,540 05
325.10 10,226 664 115,174 27 | 4,557 601

!

30,260 88 60,658 86 1,607.78 63,809 321 653,068 18183,452 41
1

48 00
80 00
16 36

41,545 41 2,494 72 160 00 183,147 851 I!>,!IH<; 031
18,101 32 1,619 87 132 82 330,067 58 48,562 29
117,059 901 14,800 63

144 36

59,619 73 4,114 59 292 82 630,274 631 83,348 951

T T L S L S Or L N .
OA A E
AD

Madison county
W e s t of Pearl river East of Pearl river -

Total balance.

$203,133 89
378,629 87
131,859 631




713,623 591

Amount of lands sold from the opening of the land offices to the lst Oct. 1812
Amount sold since, as above stated .
„
.
„
.

EDWARD

-

484
f 89
30'260.88

1 003 m o n
6oV>58 86

Total

Offices.

514,442.77

C
O

G
O

a
Q
?3
M
H

>•
50
o
h
M
S3
H
to
W
<>
y
ci
!*>

1,063,831 8 9 |

TIFFIN,

Commissioner of the General Land Office.
Not*.—The lands sold east of Pearl river, since 1st July, 1813, are not included, the returns not having arrived
T h e payments made by receiver east of Pearl river are not stated; several of his returns not bavin-' arrived'
Both oi those commissions will be brought into the next annual statement.
° U1 ' 1VCU *

Ot

l—l
C
O

c«

Redemption frt»m
I 1>
I s 1lo 30th September, 1813.

Redemption from Total priuripal
1st April, 1801, redeemed front
to 50»h Septem- 1st April, MM,
ber 1819, r*rihe lo 30th .September, 1813.
. retary * report of 4th December, 1819.

!»

K

3

T h e amount of warm ota
im Ibe Treasurer o f t h e United States, on account of the intrrestof
the domestic debt, and of the reimbursement of the old six per cent, and def. trod rtoelM, «r«n
the l»t October, 181*2, to the 30th fceptember, 1813, exclusive of a repayment of H O W 4J »nd »r
the reimbursement of the residue of ifce cou vetted 6 per cent, stock, and o f t h e po' 1 ^®*
isiana slock, aix per cent, stork ol 1812, and otdeferred slock, as Mated below, waa #1,901.161 -W
Deduct interest which act*riled duriog ihe >ame period, calculated
2,410,369 83
f a r t a r yearly
Reimbursement of old six per cent, and deferred stocks
Reimbursement of the navy six per cent. slock
Reimbursement of ihe five and a ball' percent, sloek Reimbursement of the four and i half per cent, stock •
Reimbursement and purchase of eight per cent, stock Reimbursement and )*>r»-haH> »( exchanged slock
Reimbursement of converted stock
Purchase of Louisiana six per cent, stork, (cost $205.0*1 76)
Purchase ol six per cent, stock at 1812, (c»«t #322,960 35)
Purcha.se of deferred stock, (cost 49.601 77) Payments for lands in certificates of the debt of the United Stales
Payments to foreign officers, and for certain parts of the domestic debt
Reimbursement of domestic loans
Reimbursement of Treasury notes
•
Reimbursement of the foreign debt
^




i
41,493,798 60 €14,836,449 96
711,700 00
1,817,500 00

176,000 00

565,318 41
.W.OOO 00
>21,-00 00
9,650 JO
401 18

100,000 00

6,359,600
6,993,35!
1,294,459
118,500

00
19
29
CO

268.940 70
92,009 H9
3,440,000 00

500,000 00
10,075*001 00
3,201,368 39

45,512,800 96

$16,330,241
711,700
1,847,500
176,000
6,359,600
6,233,351
1.K59.770
3-26,500
324 ,'.00
9,650
268,240
92,411
3,510,000
500,000
10,075,001

56
00
00
00
00
12
T
O
00
00
'20
70
07
00
00
00

48,714,169 35

X
W"

CD

T h e amount of stock purchased daring the jrear ending on th« "Oth September, 1813, was •
V i z : Louisiana stock
Six per cent, slock of 1813
Deferred stock
T h e snm paid from the Treasury for the same, was

- 83fltf,000 00
-

£541,850 20

£

324,200 00
9 , 6 5 0 30

-

537,583 88

Making a difference o f •
W h i c h sum, deducted from that here stated as the amount of debt iet&*Q Ca i n the year ending September 30, 1813, viz

4,200 32
3 , 2 0 1 , 3 6 8 39

S h o w s the amount actually paid from th- Treasury daring that year on a c c o s t of the reimbursement of the principal of the public debt

3 , 1 9 7 , 1 0 3 07

TREASURY

DEPARTMENT,

Register's




Office, January 8, 1814.
JOSEPH NOURSE,

Register.

n
o
M
H
fe
O
H
X
H
H

SO

Pi
fe
r;
so

ST A TEMENTof

receipts and payments

at the Treasury o' the United States, from the 1st of October, 1812, to the
30/A September, 1813.

Cash in Ihfl Trea-sury, subject to warrant,
October 1, 1812
39,369,652 69
Received for the proceeds of the customs
$ 12,306,491 86
Arrears if internal revenue and direct tax
8,171 88
Sales of public lands 830,671 53
Copper coinage
.
.
.
6,960 00
Fees on patents
.
.
.
5,730 00
Postage of letters
.
.
.
39 7»>
Saline near the Wabash
7,400 00
Public property sold
.
.
.
W6 30
Consular receipts for seamen
115 28
Finea, penalties, and forfeitures
9,422 46
Prise money
.
.
.
.
80,691 39
Interest on Treasury notes .
300 00
Repayments
.
.
.
.
98,661 41
13,568,049 43
Loan of 911,000,000, per act of March 14
1819
.
.
4,337,487 50
Loan of 3 16,000,000, per act of February 8,
i8i3
r
.
. 14,488,125 €0
Treasury notes, per act « f :MM"ii V' m H A
June 30, 1819
- # 4 , 8 9 8 , 3 0 0 00
Treasury notes, per act of
February 25,1813
•1*1,000 00
5,151,300 00
93,976,91? JO




Payments on the following accounts, viz:
Civil and misce'ianeons expenses, bet\ foreign

and domestic.
Civil department, proper
Orants and miscellaneous claims Military pensions
.
.
.
laghl* bouse establishment Marine hospital establishment
Mint estahlishmeat
Public buildings in Washingtoo, and far
niture for President's house
Prisoners of war
Second and third census
Contingent expenses of Oovern*>«»i
Purchase of books for Cong*6-'" *
Privateer pension fund
Aseeitaimng land-title*
Lootsiana
•
WiW
Surveys of pnbli- Uuids
17,179 88
Survev of <*>e coast of the United Stales road .
$53,358 99
R„~H in Ohio, and nnder the
treaty of Brownstown .«
27,500 00
Trading-houses with the Indians Diplomatic department
•
397,600
Contingent expenses of foreign
intercourse
69,762
Treaties with Mediterranean
powers
51,015
Relief and protection of seamen 39.443
Claims on France •
4,687

3845,719
105,875
87,103
138,369
53,296
I5.0VT

66
83
72
35
45
W

18,073
111,093
2,177
615

00
42
12
00

I,000 00

8,197 97

96,598 68
3,127 50

80,858 99
16,883 2H
61
47
00
71
50

192,539 99
31,705,916 35




Military

expenses,

vix:

Military department, fortifications, ordnance, militia, volunteers
18,291,991 49
Indian department .
192,759 00
IS'aral expenses,

18,484,750 49

vix:

Naval department, marine corps, navy yards

_

6,420,707 20

Public debt, t*ix:
Interest and charges
Reimbursement of principal

.

.

Balance in the Treasury subject to warrant
September 30, 1813
.

.

3,120,379 08
3,197,102 07
6,317,481 15
-

6,978,752 43

39,907,607 6*2
39,907,607 62

CT4 TP MP\T

s

[1813.

REPORTS OF' T H E

518

of moneys received into the Treasury

mI

f*
per annum.

at the r a U

during the year
per cent.
*

of 5

Notes issued under the act of the 30th of June, 1S12:
Received at the S t a t e Bank, Boston
Manhattan Bank, New 1 ork
Mechanics' Bank, New York
New York State Bank, Albany
Bank of Pennsylvania, Philadelphia
Bank of Columbia, Washington Union Bank, Georgetown Columbia
Bank of Chillicothe, Chillicothe Miami Ejgwrting Company, Cincinnati
Bank of Kentucky, Frankfort

$400,000
400,000
600,000
179,800
185,600

100,000
50,000
49,100

-

100,000
100,000
1*2,164,500

Notes issued under the act of February 25, 1813:
Received at the Cumberland Bank. Portland
Merchants' Bank, Salem State Bank, Boston
Manhattan Bank. New York
Mechanics' Bank. New York
Bank of Troy, Troy, New York
Bank of Pennsylvania, Philadelphia
Bank of Columbia, WaAington
^
Farmers' Bank of Alexandria
Planters' Bank, Savannah




8100,000
" 30,1)00
1,000,000
250,000
750,000
100,000
1,000,000
200,000
2(10,000
300,000
$3^930,000

1S14.J

SECRETARY OF THE TREASURY.'g

519

G.
L O A N O F S E V E N MILLION F I V E H U N D R E D T H O U S A N D DOLLARS.

T h e annexed notification, marked G a, was issued 011 the 30th of August, 1813: and, in pursuance thereof, proposals were received on the 25th of
September, for loaning money to the United States, on a six per cent., to be
received by the lenders at various rates, amounting in the whole to 12,791,500
dollars. A copy of one of these proposals is annexed, marked G b \ the
others were substantially of the same form. After rejecting those least favorable to the United Statos, and apportioning, by an equal rule among those
that were accepted, the sum that was to be received on loans, the following
proposals for the sums annexed to each were accepted, by a letter addressed
to each of the persons making the proposals, in substance the same as that
annexed, marked G c, viz:
$2,152,000 00
Jonathan Smith, of Philadelphia
1.435,000 00
Jacob Marker, of New York
1.435,000 00
Ralph Higiubotham, of Baltimore 468.000 00
Quinton Campbell, of Philadelphia 288,000 00
Fitz G. Halleck, of New York
221,000 (JO
Thomas W. Bacot, of Charleston, S. C.
151,000 00
William Cochran, of Boston
147,000 00
George T . Dunbar, of Baltimore
144,000 00
G. B. Vroom, of New York
144,000 00
Henry Kuhl, of Philadelphia
144,000 00
Isaac McKim, of Baltimore
118,000 00
Whitehead Fish, of New York
11S,000 00
John Du^r, of Baltimore
110.000 00
William G. Cochran, of Baltimore 108,000 00
4
Jacob G. Koch, of Philadelphia
73.000 00
William Whann, of Washington
72,000 00
James Cox, of Baltimore
72,000 00
Thomas Gumming, of Augusta, Georgia
100,000 00
T h e navy pension fund
$7,500,000 00
And the aforesaid sum of $7,500,000 was made payable at the following
places, viz:
• $75,000 00
At Wiscasset, Maine
2,025.000 00
New York
36,000 00
New Brunswick, N. J. 2.384,000 00
Philadelphia
2.5U.OOO 00
Baltimore
' 73^000 00
Washington
100,000 00
Washington, navy pension kind 221,000 00
Charleston, S. C.
72,000 00
Augusta, Georgia
*
§7,500.000 00




6a6

R E P O R T S OF THE
G

' [1814.

A.

NOTICE.
TREASURY DEPARTMENT,

August 30, 1813.
Whereat, by an act of Congress, passed on the 2d day of August, 1813,
the President of the United States is authorized to borrow, on the credit of
the United States, a sum not exceeding seven million five hundred thousnnd
dollars: And whereas, the President of the United States did, by an act or
commission under his hand, dated the 7th day of August, 1813, authorize
and empower the acting Secretary of (lie Treasury to liorrow, on behalf of
the United States, the aforesaid sum of seven million five hundred thousand dollars, pursuant to the act of Congress above recited:
PUBLIC NOTICE IS THEREFORE H E R E B Y GIVEN,

That proposals will be received by the acting Secretary of the Treasury,
until the twenty fifth day of September next, from any person or persons,
body or bodies corporate, who may offer, for themselves or others, to loan to*
the United States the whole or any port, not less than one hundred thousand
dollars, of the aforesaid sura ofseVen million five hundred thousnnd dollars.
The stock to be issued for the money loaned will bear an interest of six
per cent, per annum, payable quarter-yearly; and the proposals must distinctly state the amount of money offered to be loaned, and the rate at which
the aforesaid stock will be received for the same.
The amount loaned is to be paid into a bank or banks authorized by the
Treasury, m instalments, in the following manner, viz:
One-eighth part, or twelve dollars and ht'ty cents on each hundred dollars,
on the 15th day of October next.
One-eighth part, on the 15th day of November next,
One fourth part, or twenty-five dollars on each hundred dollars, on the
15th day of each of the ensuing months of December. January, and February next.
'
The proposals must specify the place where the money is to be paid.
If proposals differing in terms from one another should be accepted, the
option will be allowed to any persons whose proposals may be accepted, of
taking the terms allowed to any other person whose proposals may beacVl» IHtAi •
No proposals will be received for a sum less than one hundred thousand
dollars; but a commission of one eighth of one per cent, will be allowed to
any person collecting subscriptions for the purpose of incorporating them in
one proposal, to the amount of one hundred thousand dollars or upwards,
provided that such proposal shall be accepted.
A commission of one eighth of one per cent will also be allowed to the
cashiers of the banks where the payments shall be made; who will issue
scrip-certificates to the persons making the payments, and will endorse
thereon the payments of the several instalments when made.
On failure of payment of any instalment, the next preceding instalment
to be forfeited.
The scrip-certificates will be assignable by endorsement and delivery;
and will be funded after the completion of the payments, upon presentation



1S14.J

SECRETARY OF THE TREASURY.

'

g521

by the proprietor to the commissioner of loans for the State where the r y
pavm its nave U*n made.
10
issued wlH
.f 1 !le ^ ^ ^
5?
** irredeemable till the 31st day
1
J' } f
be transferable in the same manner as the other
, T l
funded stock of the United States; and will be charged for the regular and
quarterly payment of its interest, and for the eventual reimbursement of its
principal, upon the annual fund of eight millions of dollars appropriated for
the payment of the principal and interest of the debt of the United States
in the manner pointed out in the aforesaid act of the 2d of August, 1813.
W. JONES,
Acting Secretary of the Treasury.

G b.
C I T Y OF W A S H I N G T O N , September 2 5 , 1 8 1 3 .
SIR : Having, agreeably to the terms of your public notice of the 30th of
August lost, collected subscriptions for the purpose of incorporating them in
<>ne proposal, I hereby propose to take of the loan of seven million five
hundred thousand dollars, the sum of three millions of dollars, payable at
'he Bank of Pennsylvania On the following terms, viz: for every hundred
dollars in six per Cent, stock, I will give eighty-eight dollars and twentyfive cents in money; or, for the privilege of paying the balance at any subsequent instalment after the first, J will give for*every hundred dollars of the
aforesaid stock, eighty-eight dollars and fifty cents in money.
1 have the honor to be,
With great respect, sir,
Your obedient servant,
T h e H o n . t h e S E C R E T A R Y OF T H E

G

JON A:
TREASURY.

SMITH.

c.

T R E A S U R Y D E P A R T M E N T , September 2 5 , 1 8 1 3 .
SIR: More than twelve millions and a half of dollars were this day offered for the loan of seven and a half millions. The rate at which the loan
>s taken, is eighty-eight dollars and twenty-five cents in money for each
hundred dollars in stock. Your proposal for three millions of dollars of
the loan, having been at this rate, has been accepted; but, in consequence
°f thp large surplus offered, it has been necessary to reduce the amount allowed to you to two million one hundred and fifty-two thousand dollars.
Upon completing the payment of this sum in the proportions and at the
periods stated in the public notification relating to this loan, of the 30th of
•August last, you will be entitled to receive stock at the rate above mentioned.
If you shall desire, or any of the persons in whose behalf your proposal
w
<is made, to obtain the certificates of funded stock before the 15th of February next, (the day on which the last instalment of the loan will be payable,) it may be effected, by paying on any day fixed for the payment of an




[1813.

REPORTS OF' T H E

522

instalment, after the first, all the subsequent instalments; but interest will
in such case be allowed only as if each instalment had been paid on
the day fixed in the public notification of the 30th of August. \ on will
lie pleased on receipt of this letter, to state to me the bank or banks in
which the money will be paid : and if more than one, the precise sum payable at each: and on or before the 15th of October, will furnish the cashier
or cashiers of snch bank or banks with the namos of the persons in whose
behalf your proposal has been made, and the sums payable by each.
The commission of on<M?ighth per cent, will be paid from the Ir. jury,
after the payment of the first instalment on the 15th of October next
I am, respectfully, sir,
Your obedient servant,
W.

JONES,

Acting Secretary of the 'IYcasury.
JONATHAN S M I T H , E s q . ,




Philadelphia.

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.
W h y 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 1808,
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 compelled, 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, l JO.
C.
Claims of American citizens against Prance, amount of, assumed and paid,
264, 2C6, 288.
Coffee, additional duty on, proposed, 22.
imported and consumed from 1790 to 1798, quantity of, 241.—See
Merchandise imported
Coins, foreign, comparative value of, 135. 142.
circulation of, to be prohibited, 155.
Coins of the United States, of what to be compound, and 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 ot 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 lst 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, tariif 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, creaied 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, <2b0.
amount ofthe, 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 ^ manmawun»
nujeriajs for
^
Expenditures.—See Receipts and Expenditures.
Exportation.—Sec Re-exportation.
F

^

<

Finances, ,he effects of a nationalbauk in administering.be, centered, 54.
Finances, state ofthe, in 1801,
i ef>?
1802,
1803,
1804,
1805,
1806,
1807,
H08,
1809;




^16.
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,) 488.
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 1805, 325 — See Receipts
and Expenditure*.
Foreign officers, provision made in 1792, for paying certaui, 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 banks, 55.
proportion of, in the United Stales, in 1790, esumated. 141.
1.
Imported articles, and the duty on each.—See Merchandise imported.
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, 2bS.
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 1WJ9, 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, 18U0, 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 m a y b e applnxl 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
418, 471, 491.
'
'
'
'
Loans, foreign, amount of on 31st December, 1789, 31.
Loans 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 49S; 519 to
522, 528 ; 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 lst 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.

368

INDEX.

Mint, plan for the establishment of a, 133.
expenses of a, how defrayed, 143, 150.
Molasws^nported and" consumed from 1790 U 1793, quantity of, 211.
>
See Merchandise imjxjrled.
N.
National bank proposed to be established, 54.
Navy expenses of 1802, estimated, £22.
1803,
do
253.
1804.
do
263.
ISOo,
do
2S6.
1806,
do
298.
from lst 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 1S07, 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 1790
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 1801 to 1805, 317.--See Revenue.
Post Office, revenue derived from the, to be 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.
K
Q94 0 f ; i Q K
estimated a m o u n t that maybe paid, m 1809 to 1824,354,30.;.
amount paid in 1807, 358, 371.

in 1811, 445,461.
from April 1, 1801, to January 1,1812, 463.
amount on J a : m a r y l l S 1 2 _ 1 4 6 , 464.
—
paidtnli
1814, 534.

j S ^ f f i f f i S S
1795 and 1801,
1 f i 219 244
of'the. pledged for the public debt, 163.
S d T l S O l , 220, 2 4 a

intrusions on the, to be prevented, 221.
sold in 1802, 252, 257.



560

INDEX.

Public lands, sold in 1S03, 262, 274.
1904, 285, 291, 315.
1905, 297, 309.
receipts from, in f W l to 1905, 31 / .
sold in 1806, 331, 34*.
1907, 356. 368.
1908. 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.
1814,550.
*
m
Public vessels sold, 222.

I ]

3

|

R.
Receipts and expenditures, estimated for 1790, 45, 53.
1795, 170.
comparative view ofthe, for 1795, 214.
in 1801, 216.
1802, 252.
1803. 262.
1804,285.
^
from April 1,1801, 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

„lT

1801 to 1805,317.

322.
1808,395.
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 ofof the, in 1802, 260. 1795, 167, 1/1, -411.
proceedings the, to 1st January,
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 payments suspended by banks, 529.
S & 3 mortal
"

WgS&SffSV^X

Merchandise imported.
Snirits foreign and domestic, additional duties proposed on, M.
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, f b .
provision for liquidating t h e , 1 M .

^ Z & M SSSrESbTlW
S u r p l ^ u f

quantity of, 2 4 , - S e e

to internal improvements, 359.
T.

j
ho lovipd 449. 490.—See Direct taxes.
Taxes, internal, proposed to be kmea

- S e e Merchandise >mPorlJ r - f r o m 1 7 9 0 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.
1811', 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. 528, 532, 511-2.
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.Merxhandisc imported.




END OF T H E F I R S T VOLVME.


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