Full text of Annual Report of the Secretary of the Treasury on the State of the Finances : Report on the Finances, December 1817

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TABLE O F ' C O N T E N T S .
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Report by; Mr. Dallas on tlie Finances Eeport by Mr. Crawford on the Finances
Report by Mr! Crawford on the Finances
Report by Mr.'Crawford on the Finances
Report by Mr. Crawford on the Finances
Report by Mr. Crawford on the Finances
.Report by Mr. Crawford on the Finances
Report by Mr-Crawford on the Finances ,
lieport by Mr. Crawford on the Finances
Report by Mr. Crawford on the Finances
Report by Mr. Rush on the Finances Report by Mr. Rush^ on the Finances Report by Mr. Rush on the Finances . Report by Mr. Rush on the Finances Eeport by Mr. Crawford on the state of the




•

Page.

December, 1815
5
D.ecember, 1816
73
-^
,r
December, :i817
88
•
November, . 1818
lo
i
- ..
. December, 1819, 144
December, 1820
167
,. - .
December,, 1821
198
.December,. 1822 .217
; December,^ 1823
247
•December, 1824276
-^
313
December, 1825
December, • 1826 ^ 353
- ,
-~
:
December, 1827
. .-< . .
388
December, 1828
->
- . 439
Currency of the United States, in 18*20
481 .

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8 31

88

REPORTS OF THE

[1817.

REPORT ON THE FINANCES.
DECEMBER, 1817.

In obedience to the directions of the " Act supplementary to < 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 upon imports and tonnage, internal
duties, direct tax, public lands, postage, and incidental receipts, during the
year 1815, amounted to - $49,552,852 02
Yiz:
Customs
.
$36,303,231 77
Internal duties 5,963,225 8S
Direct tax
5,723,152 25
Public lands, exclusive of those in the State
of Mississippi and the Alabama Territory
1,287,959 28
Postage, and incidental receipts 275,282 84
And that which accrued from the same sources, during the year 1816,
amounted to
- $36,743,574 07
Viz:
Customs (see statement A)
$27,569,769 71
Internal duties (see statement B) - 4,396,133 25
Direct tax (see statement C)
- 2,785.343 20
Public lands, exclusive of those in the State
of Mississippi and the Alabama Territory (see statement D)
- 1,754,487 38
Postage, and incidental receipts 237,840 53
It is ascertained that the gross amount of duties on merchandise and tonnage, which have accrued during the first three quarters of the present
year, exceed $17,000,000; and that the revenue arising from internal duties and from the public lands, during the same period, exceeds that of the
corresponding quarters of the year 1816.
The balance in the Treasury, on the 1st day of January, 1817, exclusive of $10,665,287 89 in Treasury notes of every description, amounted
to
.
.
.
.
.
.
.
$11,295,592 86
The payments into the Treasury, during
the first three quarters of the year, are
estimated to amount to
$27,095,984 14




1S17.]

SECRETARY OF THE TREASURY.

Viz:
Customs
- $21,732,068
Internal revenue and direct tax
3,480,173
Public lands, exclusive of
those in the State of
Mississippi and the
Alabama Territory 1,326,077
Postage, and incidental
receipts
26,913
Repayments into the
Treasury
530,751

89

22
43

44
93
13

And the payments into the Treasury
during the fourth quarter, from the same
sources, are estimated at
-

$5,980,000

Making the total amount estimated to be received into the
Treasury, during the year 1817, amount to
- $33,075,984 14
Which added to the sum in the Treasury on the 1st day of
January last, makes the aggregate amount of The application of this sum for the year 1817, is estimated as follows, viz:
To the 30th September the payments have
amounted to - $32,710,002 88
Yiz;
Civil, diplomatic, and miscellanous expenses, exclusive of $375,000
paid to the State of
Georgia from the proceeds of the Mississippi
lands - $2,798,248 75
Military service, including
arrearages
- 7,105,816 90
Naval service - 2,044,474 25
Public debt, exclusive of
^ $3,592,927 60, of Treasury notes, which have
been cancelled in due
course of settlement - 20,761,462 98
During the fourth quarter it is estimated
that the payments will amount to
Yiz:
Civil, diplomatic, andmiscellaneous expenses $600,000
Military service 1,110,000
Naval service 1/300,000
Public debt to 1st January,
1818, inclusive
2,650,000
Making the aggregate amount of




44.371,577 00

5,660,000 00

38,370,002 88

90

[1817.

REPORTS OF THE

And leaving on that day, exclusive of $8,682,697 70 in
Treasury notes, which are in a train of settlement in
order to be cancelled, a balance in the Tresury of
- $6,001,575 88
OF T H E P U B L I C D E B T .

The funded debt contracted before the year 1812, which
was unredeemed on the 1st day of October, 1816, as appears by statement No. 1, amounted to $37,494,267 01
By the same statement it appears that the
funded debt contracted subsequent to
the 1st day of January, 1812, amounted
to
71,201,551 28
Making together the sum of
- 108,695,818 29
To which must be added the temporary
loan from the Cumberland Bank, of 50,000 00
Making the aggregate amount of

-

-

$108,745,818 29

On the 1st day of January, 1817, there was
added to the above amount, including
$7,000,000 of five per cent, stock subscribed to the bank, and including also
a temporary loan from the bank, of
$500,000, the sum o f - $7,877,471 61
From which deduct the amount of the old
six per cent, and deferred stocks reimbursed between the 1st day of October
and the 1st day of January, 1817, inclusive, amounting to
815,484 42
Leaving the sum of

-

-

-

-

-

7,061,987 19

Making the public debt which was unredeemed on the 1st
day of January, 1817, as appears by statement No. 2,
amount to
115,807,805 48
From the 1st day of January to the 30th day of September, 1817, inclusive, there was, by funding Treasury
notes, added to the public debt, as appears by statement
No. 6, the amount of
1,097,315 43
Making on that day, as appears by statement No. 4, the
aggregate amount of - 116,905,120 91
During the same period there was purchased and redeemed
of the public debt, including $550,000 of temporary
loans, the sum of
16,993,275 50
Which deducted from the amount of the public debt last
stated, leaves unredeemed on the 1st day of October, 1817,
as per statement No. 3, the amount of - 99,91.1,845 41




1S17.]

SECRETARY OF THE

Since the 30th September there has been
purchased or redeemed, of the principal
of the public debt, as appears by statement No. 5, the amount of
And there will be reimbursed of the principal of the old 6 per cent, and deferred
stock, to the 1st day of January, 1818,
inclusive, the amount of
Making together

TREASURY.

91

$333,235 16

709,513 70

-

Which being deducted from the aggregate amount of the
public debt on the 1st October, there will remain unredeemed, on the 1st January, 1818, the sum of

$1,042,748 86

98,869,096 55

By the same statement No. 5, it appears that the principal of
the public debt, purchased and redeemed during the year
1817, including $550,000 of temporary loans, amounts to $18,036,023 72
In this sum is included all the funded debt held by the Bank of the United States.
The old six per cent, stock will be redeemed in the course of the year
1818. The first instalment of the Louisiana debt falls due on the 21st day
of October of that year. According to the terms of the convention, this
debt is to be discharged by annual instalments, of not less than three millions
each. It is therefore presumed, that, consistently with the letter of the convention, the whole debt cannot be discharged in one payment. But for this
obstacle, in the present state of the Treasury, and under the existing provisions of the sinking fund, the whole amount of the stock might be
redeemed on the 21st day of October next. It is believed that neither the
letter nor spirit of the convention forbids the redemption of that stock, in
two annual instalments, by which the whole debt will be redeemed on the
21st day of October, 1819.
After the redemption of the Louisiana stock, there is no part of the principal of the public debt redeemable at the will of the Government until
the 1st day of January, 1825, except the 5 per cent, stock, subscribed to the
Bank of the United States. As the commissioners of the sinking fund
are not authorized to redeem the 5 per cent, stock, the permanent annual
appropriation of 10,000,000 of dollars, from the year 1819 to 1825, under
the existing laws, can only be applied to the payment of the interest of the
public debt", and to the gradual reimbursement of the principal of the 6 per
cent, deferred stock, and will leave during that period an annual surplus of
nearly five millions of dollars.
During the year 1825, the exchanged six per cent, stock, the six per cent,
stock of 1812, and the stock created by funding Treasury notes, amounting
together to $18,895,456 23, will be redeemable. To the redemption of
the whole of this stock within that year, the sinking fund, by the aid of its
surpluses, will not only be entirely adequate, but will be amply sufficient to
redeem the remainder of the public debt, at the several periods at which the
different stocks of which it is composed become redeemable. The whole
debt, including the 5 per cent, stock, will be extinguished during the year
1830; except the 3 per cent, stock, which is not redeemable at the will of
the Government.




92

REPORTS OF THE

[1817.

It is not presumed that taxes will be imposed and collected, for the
express purpose of purchasing the funded debt above its nominal value. It
is, however, believed to be unsafe to reduce the revenue below the permanent annual expenditure, as now authorized by law, including the appropriation constituting the sinking fund. A reduction below that amount would
postpone the redemption of the public debt beyond the periods when the
several loans of which it is composed become redeemable, or impose upon
the Legislature the duty of resorting to them anew for that object.
If, then, the revenue shall, until the year 1825, be equal to the present
annual expenditure, it is respectfully suggested whether the public interest
will not be promoted by authorizing the commissioners of the sinking
fund to purchase the funded debt, at such rates above par, as in their judgment will be for the interest of the nation, rather than to suffer the annual
surplus of the sinking fund to remain in the Treasury unapplied for five
successive years. Should such an authority be given to the commissioners
of the sinking fund, it is probable that the different species of stock would
advance in price above their present current value; but as the authority
would be permissive, not imposing the obligation to purchase, it is probable
that the surplus of the sinking fund might be more beneficially employed
in purchasing the public debt, than by remaining idle in the Treasury until
the year 1825. If that surplus could be annually invested, early in each
year, at the present prices of the different species of stock, it would produce
a saving to the nation of not less than four millions of dollars, between the
1st days of January 1820 and 1825. The interest which will accrue on
the 5 per cent, stock, between the 1st days of January 1820 and 1825, when
it is estimated the whole redeemable debt will be discharged, will amount to
$3,500,000. If, therefore, it is intended to redeem that stock, the surplus in
the sinking fund may be legitimately applied to that object during the years
1820 and 1821.
By statement No. 8, it appears that the Treasury notes
which have issued under the several acts of Congress on
that subject have amounted to
$36,133,794 00
Of which there has been cancelled at the
Treasury
.
.
.
.
$26,574,431
There is now in the Treasury, which
will be cancelled when settled,exclusive of
$422,519 77, the estimated interest upon
them, the amount of
8,623,400
Making together the sum of 35,497,831 00
Leaving outstanding an estimated balance of

-

635,963 00

As the outstanding Treasury notes are convertible into funded debt,
which is considerably above par, it is presumed that such portion of them as
are not lost or destroyed will be funded, instead of being paid into the Treasury in discharge of duties and taxes. It is therefore probable that an addition to the public debt will be made during the year 1818, nearly equal to
the Treasury notes estimated to be outstanding.
Statement E presents the state of the land offices in the State of Missis-




1S17.]

SECRETARY OF THE TREASURY.

93

;ippi and in the Alabama Territory; from which it appears that the receipts
1 to the Treasury have amounted to $1,124,100 81, of which $431,120
1
vere in Mississippi stock.
From the proceeds of the sales of these lands, there has been paid to the
State of Georgia the sum of $888,441 33, and there has been transferred
o the State by the commissioners of the United States, under the act com>romising the Yazoo claims, that part of the original purchase money renaming in the State Treasury, amounting to $184,515 94; making together
he sum of $872,957 27, and leaving still due to the State the sum of
j>377,©42 73. which is now ready to be paid under the provisions of the act
> the 3d of March last.
f
3y statement No. 7, it appears that the Mississippi stock, awarded by the
commissioners, amounts to
$4,278,434 00
^rom which deduct the amount received into the Treasury
431,120 00
weaves outstanding the sum of
$3,847,314 00
Which it is estimated will be received into the Treasury during the two
ucceeding years, in payment of the public lands in the State of Mississippi
nd in the Alabama Territory, or will be discharged by payments from the
Treasury out of the proceeds of the sales of those lands.
F T H E E S T I M A T E S OF T H E

PUBLIC REVENUE
THE YEAR 1818.

A N D E X P E N D I T U R E S FOR

The importation of foreign merchandise during the years 1815 and 1816
o greatly exceeded what was presumed to be equal to the annual average
onsumption, that a general impression was produced that the importations
uring the present year would fall greatly below that demand. Under this
upression, the revenue accruing from that source, for the year 1817, was, in
lie annual report of the Treasury, of the 16th of December, 1816, estimated
t 12,000,000 of dollars. But it is ascertained that the gross revenue arisig from that source, during the first three quarters of the year, have exeeded 17,000,000 of dollars, and it is estimated that that of the whole year
nil exceed $22,000,000.
It is presumed that the importations from the East Indies, during the preent year, greatly exceed those which will take place during several conseutive years; and that the reaction produced by the excessive importations
f 1815 and 1816 has, in some degree, been diminished by that circumstance,
^hereis, however, just ground to believe that the revenue derived from this
ource will not, for any given series of years, fall below that of the present
ear. Considering that this revenue, during the year 1807, (the last year
rat our commerce was not greatly embarrassed by belligerant aggression,)
xceeded 16,000,000 of dollars; that the duties then imposed are considrably augmented by the present tariff; and that our population has increased
lore than 30 per cent., carrying with it, in the same degree, an increase of
le means of procuring foreign articles, with an undiminished relish for
leir consumption; it is presumed that the revenue from that source, during
le present year, will be found to be less than that of any number of succes.ve years.




94

REPORTS OF THE

[1817.

According to these views, the permanent annual revenue may be estimated
to amount to
$24,525,000 00
Yiz.
Customs
$20,000,000
Internal duties 2,500,000
Public lands, exclusive of the Mississippi
and Alabama lands
1.500,000
Bank dividends, at 7 per cent.
490,000
Postage, and incidental receipts 35,000
And the payments into the Treasury, during the year
1818, may be estimated at the same amount.
To which add the balance estimated to be in the Treasury on the 1st day of January, 1818
-

6,000,000 00

Making together the sum of - $30,525,000 00
The probable authorized demands upon the Treasury,
during the year 1818, are estimated to amount to
- 21,946,351 74
Viz.
Civil, miscellaneous, diplomatic, and foreign intercourse
- $2,069,843 29
Military service, including an arrearage
of $500,000 6,265,132 25
Naval service, including $1,000,000 for the
gradual increase of the navy - 3,611,376 20
Public debt
10,000,000 00
Which being deducted from the amount estimated to be received into the
Treasury, including the balance on the 1st of January, 1818, leaves, on the
1st of January, 1819, a balance in the Treasury of $8,578,648 26j; which
however, will be applied to the redemption of the Louisiana stock, under
the provisions of the act for the redemption of the public debt, passed the 3d
day of March, 1817, as far as those provisions will admit.
AH which is respectfully submitted.
WILLIAM H. CRAWFORD.
T R E A S U R Y D E P A R T M E N T , December 5 , 1 8 1 7 .




1S17.]

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96

REPORTS OF THE

[1817.

B.
STATEMENT

of the accruing internal duties, during the year 1816,
with the computed expenses of collection.

Amount of accruing duties
Computed expenses of collection
Nett revenue

-

-

-

-

-

-

$4,633.799 00
237,665 75
$4,396,133 25

C.
STATEMENT

respecting the direct tax, imposed March 5, 1816.

Amount of the tax imposed on the respective States
Add amount of direct tax imposed on the District of Columbia
Computed expenses of collection, with the deductions
made to assuming States for the prompt payment of their
quotas, viz:
On $781,133 73 assumed by the States of New York,
South Carolina, Ge@rgia, and Ohio, on which a deduction offifteenper cent, was allowed
- $117,110 05
On $2,228,865 47 collected, or to be collected, by the collectors - 107,545 95
Nett revenue

-

REVENUE OFFICE,

-

-

-

December 1, 1817.




-

-

$3,000,000 00
9,999 20
3,009,999 20

224,656 00
$2,785,343 20

SAMUEL H. SMITH,
Commissioner of the Revenue.

tSTA T E M E N T ofi lands sold in the Staies ofi Ohio and Indiana, and in tke Territory ofi Illinois, from the 1st ofi Ociober,
1816, to ihe 30th ofi Septembei^, 1817 ; showing, also, the amoimt ofi receipts firom individuals, and payments made by
^
receivers, during tke same time ; with tke balance d^ie, hoik on tke 1st October, 1816, and 1st October, 1817.

Lands sold, after deducting
^ lands reverted.
Offices.
Acres.

Purchase mo,ney.

S52,461 30
24,049.62
105,393.48
212,381 08
54,565.89
123,195 86
86,063.63 . 405,251 48
72,048.35
148,380 70
256,711.97
525,979-34
261,142.96 - 522,285 92
325,361.37
601,302 60.
6.7,083.99
134,197 98
78,507.54
157,015 09
104,073.69
208,416 94

Marietta - Zanesville - '
Steubenyille
^CantonChiUicotheCincinnati Jefferson ville
Vincennes Shawneetown
Kaskaskia -.
Edwardsville

1,414,952.49




3,090,868 29

Lands reverted.

/

,
Receipts by receivers.

Payraents by receivers.

.Cl

In the hands Due by indiof receivers, viduals, Oct. 1,
Oct. 1.1816.
1816.

Acres.

1,872.64 ^11,875 41
S98,768 971
418,873 23
3,661.30
2,094 98
445,256 68
7,530.12
4,860 13
709,748 021
.4,273.53
32,628 72
10,720.19
13,421 05 - 233,991 42
987,887 99^
34,728.31
26,795 54^
596,^6 78^
13,071.69. ^ 4,520 88
21,975.51
74,454 181 • .634,535 89
150,298 52
4,642.94
124 82
58,330 57
4,001.90
5,779 04
: 2,809.12
- .
^•

On account of
purchases..

S33,757
148,205
145,292
255,031
97,087
384,747
256,789
310,435
45,944
65,745
54,682

79,287.25- ^76,554 76i 4,334,648 09i 1,797,719

86
31
22^
00
23
171 151 ^
68 :
8U
57
74
m

On account Into the Trea- For expenses
and repayof forfeitsury.
ments.
ures.
SS26
496
2,702
433
2,340
13,960
2,037
3,800
452
400
280

22
34
67 25
99
93 '
68. .
99
99
19
91

27,733 16

S27,824.77- 'S1,28L38
129,310 83
5,250 79
143,520 31
•8,287 47^
248,365 60
8,479 80i
86,060 37
4,017 25
387,275 75
11,042 22
247-, 196 92
7,886 89
373,892 05 V 12,293 02i
31,837 52^ ' 2,197 44
33,176.25
4,443 14
46,027 01
3,759 84

1,754,,,487 38

6a, 939 251

o

>

STATEMENT D-^Continued.

00

Balance due, October 1,1817.
From individuals, "
Marietta - ' Zanesville Steubenville
Canton '. ChiUicothe - Cincinnati Jeffersonville
Viii'cennes - '
Shawneetown
Kaskaskia EdwardsviUe

-

t l l 7 , 4 7 2 41f
483,049 00423,160 3li
859,967 90^
•285,284 891,129,120 16
862,453 541
-925,402 81
238,551 681
149,600.09
,153,734 20

S17,353 34 S134,825 751
16.,235 01
499,28^ 01
1,047 24 - 424,207 55^
. 31,248 16^891,216 07
22,771 65
.308,056 54
27,185 68 1,156,305 84
8,263 "901
870,717 45§
2-,505;78i • 927', 908 59i
12,487-66o^
251,039 35
34,305 41
-183,-905 50
158,911 00
5,176 80

5,627,797 02

178,580 65

•Total sales bf land from the openirig of the offices
to Octoberl, 1816
Amount sold since, as above stated
^




5,806,377 67

• GENERAL LAND OFFICE,

,

,

Acres.
7,054,689.07
1,414,952.49

14,960,784 68
" 3,090,868 29

8,469,641.56

Offices.

Total balance
due Oct. 1,
By receivers.
1817.

Dollars.

18,Q51,652 97

>

November 28, 1817,
...
J O S I A H MEIGS) Commissioner.

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REPORTS OF THE

100

[1817.

No. 1.
STATEMENT

of the public debt of the United
October, 1816.

States,

Six per cent, stock - $17,250,871 41
Three per cent, stock
- 16,158,180 79
Deferred stock
9,358,320 34
Louisiana stock
- 10,923,500 00
Six per cent, stock of 1796
80,000 00
Exchanged 6 per cent, stock of 1812
2,984,746 72
Six per cent, stock of 1812, 11.000,000
loan
7,810,500 00
Six per cent, stock of 1813. 16,000,000
loan
.
.
.
.
18,109,377 43
Six per cent, stock of 1813, 7,500,000
loan
.
.
.
.
8,498,581 95
Six per cent, stock of 1814, 25 and 3
million loan
- 15,954,619 85
Six per cent, stock of 1815, 18,452,800
loan
.
.
.
.
12.288,149 64
Six per cent, stock Treasury notes, per
act of 25th February, 1815, funded
60,727 41
Seven per cent, stock, small Treasury
notes, funded
8,479,595 00

Loan due Cumberland Bank, Maine

.

.

on the 1st of

$56,755,619 26

71,201,551 28
$127,957,170 54
50,000 00

.

Nominal amount of public debt, 1st October, 1816
- $128,007,170 54
Deduct reimbursement of the old 6 per cent, and deferred stocks, by estimate
.
.
.
.
19,261,352 25
Unredeemed amount, 1st October, 1816

-

-

$108,745,818 29

TREASURY DEPARTMENT,

Register's Office, December 19, 1816.
JOSEPH NOURSE, Register.

STATEMENT

No. 2.
of the funded debt of the United States, and of temporary loans, on the 1st January, 1817.
FUNDED

Old six per cent, stock
Deferred six per cent, stock
Three per cent, stock
Louisiana stock
Six per cent, stock of 1796 Exchanged six per cent, stock of 1812



DEBT.

$17,250,871
9,358,320
16,158,180
10,923,500
80,000
2,984,746

41
34
79
00
00
72

$56,755,619 26

1817.]

SECRETARY OF THE TREASURY.

Six per cent, stock of 1812, 11 million
loan Six per cent, stock of 1813, 16 million
loan
Six per cent, stock of 1813,
million
loan Six per cent, stock of 1814,25 and 3 million loan
.
.
.
.
.
Six per cent stock of 1815, $18,452,800
loan Six per cent. Treasury note stock
Seven per cent, stock Five per cent, stock
TEMPORARY

Dae Cumberland Bank, Maine The Bank of the United States -

101

$7,810,500 00
18,109,377 43
8,498,581 95
15,954,619 85
12,288,149
60,834
8,856,960
7,000,000

64
02
00
00

$78,579,022 89

LOANS,

-

$50,000 00
500,000 00

Nominal amount of the debt and temporary loans, 1st of
January, 1817
Deduct amount reimbursed in the payment of 8 per cent,
per annum on the old 6 per cent, and deferred stocks -

556,000 00
135,884,642 15
20,076,836 67

Unredeemed amount of funded debt and temporary loans,
on the 1st of January, 1817
$115,807,805 48
TREASURY

DEPARTMENT,

Register1s Office, November 28, 1817.
JOSEPH

ESTIMATE

NOURSE,

Register.

No. 3.
of the funded debt of the United States, on the 1st of October, 1817.

Old six per cent, stock, nominal amount $16,311,935 76
Deferred stock, nominal amount - 8,892,815 82
25,204,751 58
Deduct amount reimbursed in the payment
of 8 per cent, per annum
- 19,870,745 49
Three per cent, stock
Louisiana stock Six per cent, stock of 1796
Exchanged six per cent stock of 1812

5,334,006
- 13,465,088
10,291,700
80,000
- 2,669,108

09
29
00
00
99

Six per ct. stock of 1812, $11,000,000 loan 6,206,502 12
Six per ct. stock of 1813, 16,000,000 loan 15,746,676 87
Six per ct. stock of 1813, 7,500,000 loan 6,836,232 39



$31,839,903 37

102

REPORTS OF THE

Six per cent, stock of 1814, 25 and 3 million loan
$12,787,060
Six per ct. stock of 1815, $18,452,800 loan 9,506,625
Six per cent. Treasury note stock, 25 million loan
.
.
.
.
1,033,961
Seven per cent, stock
- 8,955,884
Five per cent, stock
- 7,000,000

[1817.
13
41
03
09
00

Estimated amount unredeemed 1st of October^ 1817
TREASURY

$68,071,942 04

- $99,911,845 41

DEPARTMENT,

Registers Office. November 28, L817.
JOSEPH NOUR3E, Register.

No. 4.
COMPARATIVE
STATEMENT
of the funded debt of the United
Statesj between the 1st of October, 1816, and Is* of October, 1817.
1. Amount of the public debt, as stated on the 1st of October, 1816, and
referred to in statement C, accompanying the report of the Secretary of the
Treasury to the House of Representatives of the United States, dated De- $108,745,818 29
cember 16, 1816
To which add:
$7,000,000 00
The five per cent, stock loan of Treasury note stock, issued in 4th quarter of 1816 $106 61
Seven per cent, stock, issued in 4th qr. of 1816
377,365 00
377,471 61
Temporary loan obtained from the Bank
500,000 00
of the United States 7,877,471 61
Deduct estimated amount of reimbursement of six per
cent, and deferred stocks in the 4th quarter of 1816 2. Unredeemed amount of funded debt and temporary
loans, 1st of January, 1817
Additions from 1st January, 1817, to 1st October, 1817 :
Seven per cent, stock $98,930 06
Six per cent. Treasury note stock
998,385 43
Deduct reimbursement of old six per cent, and deferred
stocks, from the 1st of January to the 30th of September, 1817
$894,484 64
Deduct amount of the several species of stock
purchased per statement $14,606,208 38



116,623,289 90
815,484 42
115,807,805 48

1,097,315 43
116,905,120 "91

1817.]

SECRETARY OF THE TREASURY.

And difference between
nominal amount of three
per cent stock, and at 65
- $942,582 48
per cent. Temporary loans paid off
to the Bank of the United
States
- 500,000 00
Cumberland Bank, Maine 50,000 00

$15,548,790 86

—
3. Unredeemed amount. 1st October, 1817
TREASURY

103

550,000 00
-

$16,993,275 50

- $99,911,845 41

DEPARTMENT,

Register's Office, November 28, 1817.
JOSEPH NOURSE, Register

No. 5.
A STATEMENT
of the stock purchased and redeemed between the
1st January, 1817, and the 30th September following.
Amount of stock redeemed, as per statement A, herewith:
the three per cent, at 65
$14,606,208 38
Amount of stock redeemed, including the three per cent,
at nominal
-$15,548,790 86
Estimated reimbursement of the old six per cent, and deferred stocks, in thefirstthree quarters of 1817
894,484 00
Temporary loans paid off to the Cumberland Bank
$50,000 00
Temporary loans paid off to the Bank of
the United States 500,000 00
550,000 00
Amount from 1st January, 1817, to 30th Sept. following, $16,993,274 86
Add to the end of the 4th quarter of 1817,
for reimbursement of old six per cent, and
deferred stocks, per estimate
- $709,513 70
Purchases of stock since the 1st October,
as per statement herewith - 333,235 16
1,042,748 86
$18,036,023 72
TREASURY

DEPARTMENT,

Registers Office, November 28, 1817.
JOSEPH NOURSE, Register.




REPORTS OF THE

104

[1817.

No. 6.
A STATEMENT
showing the additions made to the debt by the funding of Treasury notes, between the 1st January, 1817, and the 1st
October following.
Seven per cent, stock $98,930 00
Treasury note stock 998,385 43
$1,097,315 43
TREASURY DEPARTMENT,

Register's Office, 28th November, 1817.
JOSEPH NOURSE, Register.

:

No. 7.
The Register begs leave to present the following statement in relation to
the Mississippi stock certificates, subject to a correction on a comparison
with the commissioners of the Yazoo claims.
$350,000 00
Amount of awards to the Upper Mississippi Company 531,428 05
Tennessee Company 1,409,054 96
Georgia Mississippi Company 1,887,029 75
Georgia Company
Persons claiming under citizens'
100,922 15
rights
.
.
Amount of certificates issued from the Treasury

£4,278,434 91
4,249,114 02

Remain to be issued, subject to correction
- (a) $29,320 89
(a) Excepting a claim of the State of Georgia for about $100,000, as
stated by the Secretary of the late Board of Commissioners.
TREASURY

DEPARTMENT,

December, 1817.
JOSEPH NOURSE, Register.
Secretary of the Treasury.

Register's Office,

Hon. W. H.

CRAWFORD,

No. 8.
A ST A TEMENT of the several denominations of Treasury notes issued, showing the amount outstanding on the 30th September, 1817.
Treasury notes were issued under the act of Congress of
30th June, 1812, to the amount of
$5,000,000 00
25th February, 1813
5,000,000 00
4th March, 1814
10,000,000 00
26th December, 1814
8,318,400 00
24th February, 1815, of $100 notes
$4,422,400
Small Treasury notes 3,392.994
:
7,815,394 00




Total amount issued

- $36,133,794 00

1817.]

SECRETARY OF THE TREASURY.

105

Of the above, there have been cancelled
at the Treasury
- $26,574,431 00
Small Treasury notes in the several banks,
viz :
New Hampshire
$179 00
South Boston
3,472 00
Manhattan 3,554 00
Pennsylvania
390 00
Columbia - 639,994 00
Branch Bank, Wash'n 2,675,811 00
3,323,400 00
In the Auditor's Office, in a course of
cancelment, for six per cent, stock, at
Treasury of U. States - $14,192 34
New Hampshire loan office
61,961 73
Rhode Island
18,595 90
New York
- 325,828 58
North Carolina 8,756 92
South Carolina - 268,415 23
Georgia 3,561 83
Balances in the several
banks, viz:
State Bank,
Boston -$10,786 55
City Bank,
N. Y. - 571,608 70
C. County 712 10
Tennessee - 3,608 16
Dead Treasury notes in the
several banks:
Br. Bank,
Wash'n $4,643,745 49
Columbia
90,746 24

From which deduct the estimated amount of interest included in the above
sum Balance outstanding, viz:
Small Treasury notes Other notes, by estimate
As above
TREASURY

701,312 53

586,715 51

4,734,491 73
6,022,519 77

422,519 77
69,594 00
566,369 00

DEPARTMENT,

Register's Office, Nov. 27.1817.




5,600,000 00

635,963 00
_

$36,133,794 00

JOSEPH NOURSE, Register<

106

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10

REPORTS OF THE

[1817.

STATEMENT A—Continued.
A STATEMENT of moneys advanced for the redemption of the public
debt, by purchasers, from Is* April to 1st October, 1817.
Moneys advanced to agents and to the Bank of the United States:
T o Jonathan Smith, cashier Bank U. S., as per warrants Nos. 65, 66,
Richard Smith, cashier Branch Bk, Washington, do.
427,428
J. B. Dandridge
do.
Richmond,
do.
387, 388
Samuel Frothingham, do.
Boston,
194, 232,
do.
Lynde Catlin,
do.
New York,
do.
195, 280,
J. W . McCulioch,
do.
Baltimore,
177, 674,
do.
H . R. Pynchon,
do. New Haven Bank,
do.
541,542
N. Waterman,
do. Roger Williams Bank, do.
223,224
John Rice,
do, Union Bank, N. Hamp. do.
225
T o the President, Directors, & Co. of the Bank U. S. do.

163, 164
233
234, 235
284
-

$232,540
72,048
57,109
138,113
231,374
820,927
911
4,063
208

23
46
77
92
02
10
63
50
60

1,557,297 23
13,043,776 13

92,196, 259

14,601,073 36
Application of the foregoing in the redemption of the public debt:
Unredeemed Cost including
interest.
amount.

Nominal
amount.

62
73
02
73
00

$87,129
216,959
1,750,462
314,587
632,301

10
88
56
56
02
16
54
23
91
42

3,001,441 40

14,606,208 38

14,597,180 39

$938,935 65
$87,069
465,504 52
216,794
2,693,092 50 at 65 ct. 1,750,510
315,637
631,800

In the purchase of old 6 per cent, stock
Deferred 6 per cent.
Three per cent.
Exchanged
Louisiana

Old debt,
11,000,000 loan, amt.
Six per cent, of 1812
Do.
1813 - 16,000,000
do.
Do.
1813 7,500,000
do.
Do.
1814 - 10,000,000
do.
Do.
1814 6,000,000
do.
Do.
1814 3,000,000
do.
Do.
1815 Seven per cent.
Six. per cent. Treasury note stock
-

Commission to agents, included in the
T o Jonathan Smith
Richard Smith
J. B. Dandridge
S. Frothingham
Lynde Catlin
J. W . McCulioch
H. R. Pynchon
N. Waterman
John Rice,

3,001,812
1,603,997
2,362,700
1,662,349
1.408,294
1^50,758
208,507
2,782,524
5
25,258

above advances, viz:
-

$579
179
142
344
576
2,050
2
10
6

-

62
96
52
73
57

1,601,688 80

2,362,652
1,662,217
1,408,281
1,547,258
208,507
2,779,868
6
25,258

62
78
25
16
54
17
25
42

89
67
41
42
99
94
27
13
25
3,892 97
14,601,073 36

Gain on the purchasesAmount of stock redeemed, including the 3 per cent, at 65 per cent.
Cost, including commission to agents
-

- 14,606,208 38
- 14,601,073 36

Amount of stock redeemed, including the 3 per cent, at nominal
Cost, as above
-

- 15,548,790 86
- 14,601,073 3(

5,135 02

947,717 5(
TREASURY

DEPARTMENT,

Registers Office, November 25, 1817.




JOSEPH

NOURSE,

Register.

1817;] -

SECRETARY OF T H E TREASURY.

• B.

•

109

:,

.

S T A T E M E N T ofi the stock purchased on account ofi ike commissioners
ofi tke sinking fiund, subsequently to the \st ofi Ociober, 1817.
Seven per cent, stock purchased of the Bank of the
Cost.
Qnited States, amount
- $332,984 60 at gl06 51, - $354,661 89
. Old six per cent, stock,.
.,
nominal amoant $.400 95,
unredeemed amount
31 04 at par
31 04
Deferred stock, nominal
amount $158 98, unredeemed aniount . 72 66 at par '
'72 66
Three per cent, stock,
/
'
, . ;
nominal amount $225 94,
at 65
, 146 86
-,
- '
146 86
$333,235 16

$354,912 45

TREASURY DEPARTMENT,

Register's Office,28tk November, 1817, ^ '
.
'-'.' >
• ,
,
JOSEPH NOURSE, Register.




INDEX
A.
Agriculture, promoted by domestic manufactures, 321, 405, 445.
how affected by the fall in price of domestic articles i n foreign
markets in 1818, 4S6.
Appropriations for 1814, gross amount of, 29.
Army expenses from 1st January, 1812, to 30th September, 1815, 15, 29.
in 1816, 74.
1817, 89, 111.
1818, 111, 198.
1819', 145, 198.
1820,: 168, 198.
1821, 200, 2:17; 234,
1822, 218, 239. 264.
1823; 248, 269', 276, 2 9 4
1824, 277; 301, 313, 332.
1825, 314, 339, 354, 372.
1826, 355, 379, 393, 418.
1827, 394, 426, 461, 472.
1828, 466, 473.
B,
Balance in the Treasury, 1st January, 1815, 30,
.1816, 74.
1817, 88,
1818, 111.
1819, 114.
1820, 169.
1821, 199.
1822, 217.
1823, 247,
1824, 276,
1825, 313,
1826; 354.
1827, 393, 472,
1828, 448, 472.
1829, estimated, 448,
Batik capital authorized by law, itt 181445-16-17, 481, 483,. 520.-,
of sixteen banks, in 1813-15-19, 523.
Bank credits, advantages and,,disadvantages of, consideredijy 491,492.
Bank, national,; establishmentr of: a, .recommendedy ^i 1 ,
Bank of England, suspended specie payments,.remarks, on, .491i
excessive issues;of, reduced the- rate, GT inteiest, 503.
F
B a n k + o f U n i t e d . States, .subscription, to the. sfockUof.the; k:90., .
a modification) of the f charter., of?, recommended;, 177.
its beneficial effects on the: fiscal) operations of
Government, : 446.-,
condition iof, the,'on: the':30th ^iSeMenaber, 1819,
481, 514.



528

INDEX.

Bank dividends, in 1817, 117
1838, 110, 155, 198.
1819, .184, 198.
1821, 199, 232.
1822, 237, 260.
1823,^ 292.
1824, 330.
1825, 337, 370.
1826, 416.
1827, 424, 460, 472.
1828, 473.
Banknotes, duty on, cease in 1816, 9.
in circulation in 1819, 482, 483, 518, 523.
Banks benefit the community, under certain restrictions, 487
Banks increased since the termination of the war in 1.815, 493.
should be restrained from excessive issues, and from issuing small
notes, 494.
Banks in the several Stales and Territories, condition.of.the, in 1819, 521.
specie possessed by the, 522.
Bounties and allowances.—See Imports.
C
Chesapeake and Ohio Canal Company, United States subscribe to the stock
of the, 447
Circulating medium, plan for improving the, 40.
Cocoa, a reduction of the duty on, recommended, 325.
Coffee, a reduction of the duty on, recommended, 325.
Coinage of the United States compared with that of other nations, 494.
an.increase and alterations of the. recommended, 495.
Colonial trade, remarks on the, 410.
Commerce, how affected by the tariff of 1824, 280, 319, 397
state of the foreign, in 1828, 442.
how affected by substituting a paper for a metallic currency, 509.
Cotton, exported in 1825-26, 361.
Cotton fabrics^ further protection necessary for the manufacturers of, 149,
325, 400.
Crawford, Mr., report of, on currency, 481.
Currency, report of Mr. Crawford on, 481.
of what it consists, and its condition, 482.
causes of depreciation in the paper, 484.
of metal and paper in circulation in 1813-15-19, 485.
when purely metallic, its effects, 488, 493.
how affected by bank issues, 489.
Treasury notes became a component part of the, in the eastern
States, in 1815-16, 491.
paper circulation may be beneficially connected with metallic,
491,493.
metallic, value of, compared with that of other nations, 494.
the issue of Treasury notes for the improvement of the, considered, 496.



INDEX.

529

Currency, the practicability of adopting a paper for a -metallic, considered,
497, 511.
constitutionality of adopting a paper for a metallic, considered, 504
estimated amount required for Europe, of metallic, 501'.
D.
65.
Debentures, issued in 1,813-14,
1815,
82, 95, 150.
1816,
95, 150.
1817,
116, 150.
1818-19-20, 179, 205.
1821,
225.
1822,
253.
1823,
285.
1824,
327.
1825,
367,
1826,
413.
1827,
451,
Debt—See Public Debt.
Direct taxes increased in 1815, 12.
a.reduction of the, recommended, 36.—See Revenue,
Discriminating duties cease in 1816, 7,
Drawbacks—See Debentures issued.
Duties on domestic manufactures, a repeal of the, proposed, 36.
table of existing, 46.
additional, on imports and tonnage, cease in 1816, 7,
a continuance of the. recommended, 38.
on stamps and refin.ed sugar, cease in 1816, 35.
on other articles, a repeal or reduction of, recommended, 36.
on. imports, an increase of the, proposed for the protection of certain
articles of domestic manufacture, 149, 204, 223, 252, 400.;
on fine cotton fabrics imported, an increase of the, proposed, 325.
on teas, coffee, and cocoa, a diminution of the, proposed, 325.
on imports, remarks on the credit system, in the collection of the,
492.—See Imports; also, Merchandise.
E.
Estimate of receipts and expenditures for 1815-16, 24, 29, 33, 35, 73, 78.
1817,
78, 80, 88.
1818,
93, 110.
1819,
113, 145.
1820,
148, 167,
1821,
170, 199.
1822,
202,218,
1823,
220,247.
1824,
250,277.
1825,
281,314.
1826,
318, 354.
1827,
360, 393.
1828,
396,412.
1829,
449.
Exchange, (foreign and inland,) rale of, in 1813-14-15-16, 484, 524.
Exchange, (foreign) how' affected by the depreciation of paper currency, 48*4.
by substituting a paper for a metallic currency, 509„

VOL. II.—34


530

INDEX.

Expenditures^— See Receipts and expenditures.
Exports for the year ending 30th September, 1822, .220. 222.
1823, 250.
1824, 280.
1825, 318.
1826, 360.
for the years 1822 to 1827, 397
1821 to 1828:, 442.
F
Finances, a review of the. in reference to the late state of war, 5.
state of the, in 1815, 24.
1816, 73.
1817, 88;
1818, 110.
1819, 144.
1820, 167=
1821, 198.
1822, 217,
1823, 247,
1824, 276,
1825, 312.
1826, 353.
1827, 388.
1828, 439.
Flour exported in 1825-6, 361.
Foreign debt'extinguished'in 1810> 20;
H.
Hamilton's reports on finances referred to, 445.
Hemp,- an increase of the duty on, recommended, 400,
I.
Importations into several ports, a comparative statement of the value of, 305,
gross amount of, in 1821 to 1828, 442.
in 1816, increased the rate of exchange, 484.
Imports, statement of the amount of duties accrued on, in 1813-14. 65.
1815, 82,150'.
1815-16, 95, 150.
1817, 116, 150.
1815-16-17-18,150.
1817-18-19, 179.
1818-19-20, 205.
1821, 225.
1822, 253.
1823, 285.
1824, 327,
1825, 367.
1826, 413.
1827, 451.—See
Merchandise imported,
Indemnity by Great Britain fof slaves, &c., amount of, 393.
distribution of the, 394, 418, 425.
Internal duties increased in 1S15; 12.



INDEX.

531

Internal} duties, repeal of some, and reduction of other parts of the, proposed, 36.
repealed 31st December, 1817. 148.—See Revenue.
Internal improvements, surplus revenues may be applied to, 81.
Iron, an increase of the duty on, recommended, 400.
L.
Land claimants (Yazoo) in Mississippi, statements of the awards to, 126,
166, 190, 216, 246, 275, 311, 345, 387. 431, 474.,
Lands—See Public lands.
Laws creating and increasing the revenue, reviewed, 8, 34.
repeal or modification of certain, proposed, 38.
a revision of the, recommended, 445.
Loans, additional, recommended, 75/ 149, 178, 204, 282, 317, 359.
receipts from, in 1812-'13-'14, 15.
in 1815, 26, 30.
terms on which obtained, 26, 53 to 64. 283, 306, 307,
receipts from, in 1816, 74.
1820, 178.
1821,199, 204, 217,
1822, 223.
1823, 283.
1824, 312.
1825, 354, 370—See Revenue.
M:
Manufactures, a repeal of the laws injuriously affecting domestic, proposed, 36.
table of the existing duties on domestic, 46.
a modification of the tariff, proposed for the better protection
of, 149, 204, 223, 252, 325, 397. 400.
promote the interests of agriculture and commerce, 324, 445.
domestic, exported in 3.S24-'25, 319.
1826, 363.
1827, 397
182,1 to. 1828. 442.
how affected by the fall in price of domestic articles in
foreign ports in 1818, 486.
Mediterranean fund, discontinued in March, 1815, 6.
Merchandise imported, (the quantity re-exported deducted) in 1814, 66.
1815, 82, 95.
1816, 95.
1817, 116.
1818, 151.
1819, 180.
1820, 206.
1821, 226.
1822, 254.
1823, 286.
1824, 347,
1825, 476.
1826, 433.
1827, 452.



532

INDEX.
N.

National bank, establishment of-a, recommended, 44.
subscription to the stock of the, 76.
National circulating medium, plan for improving the, 40.
Navy expenses, from 1st January, 1812, to 30th September, 1815, 15, 29.
for 1816, 74.
1817, 89, 111.
1818, 111, 198.
1819, 145, 198.
1820, 168, 198.
1821, 200i 217, 234.
1822, 218, 241, 264.
1S23, 248, 270, 276, 295.
1824, 277, 302, 313, 333.
1825, 314, 340, 354. 374.
1826, 354, 381, 393^ 420.
1827, 394, 428/464, 472.
1828, 469, 473.
O.
Officers and soldiers—See Revolutionary

claims.

P.
Passports and clearances—See Merchandise imported ,- also, Imports.
Postage on letters, increased in 1815, 12.—See Revenue.
Public credit, during the late war, state of the, reviewed, 6.
plan for improving the, 38.
suite of, in 1.828, 441.
Public debt, amount paid from 1st Jan., 1812, to 30th Sept., 1815,15,16,30,
amount unpaid on 30th September, 1815,19.
amount paid to 1st January, 1815, 22.
statement of the, from 1st January, 1791, to 1815. 47.
state of the. in 1816, 75, 82, 85, 90, 100.
1817. 90, 100 to 103, 111, 119, 135.
additions made to the, by funding Treasury notes, 104,146,160,
amount of the, on 1st January and 1st October, 1818,112, 120r
146, 160, 164.
in 1819, 147, 161 to 166, 185.
1820, 169, 186, 188, 200, 212.
1821, 201, 213 to 216, 219, 235, 243.
1822, 219, 244, 249, 265, 272.
1823, 249, 271, 273, 278, 296, 308.
1824, 278, 303, 30?, 334, 342.
when it may be redeemed, 283.
amount paid from 1st January, 1817. to 1st January, 1825,''284,
343.




INDEX.

533

Public debt, amount of the, on 1st October, 1825, 315, 341, 344, 375-, 384.
1826, 356,381,385 to 387,421.
1827, 390,429 to 431,465,472,
. 1828, 470, 473.
amount paid from 1st Jan., 1817, to 1st Jan., 1829, 440, 472.
amount unpaid on 1st January, 1829, 471.
Public lands sold prior to ihe establishment of land offices, 51.
from the opening of the land offices to 1814, 51.
from 1st October, 1814, to 30th Sept., 1815, 68 to 72,88,
receipts from, in 1816, 73, 88. 110.
sold from 1st Oct., 1816, to 1st Oct.,, 1817, 97 to, 99, 110.
sold in 1817-18,110, 118, 135 to 143.
1818-19, 145, 156 to 159, 191.
1819-20, 167, 191 to 198.
relief to purchasers of, recommended, 175.
sold in 1820-21, 199,<211, 230.
effects of the relief laws on the sale of, 202.
sold in 1823, 236, 247, 258.
1823, 248, 266, 276, 290.
1824, 277/297, 312, 328.
1825, 313, 335, 368.
1826, 376, 392,. 414.
1827, 393, 422, 457.
remarks on the credit system in the sale of, 492.
R.
Receipts and expenditures, from 1st Jan., 1812, to 30th Sept., 1815,16, 29.
from 1791 to 1814, 45, 73.
in 1815-16, 73, 88, 110.
1816-17, 88, 110.
1817-18, 111, 144,
1818-19, 145, 167.
1819_20, 167, 198.
1820-21, 198, 217, 233.
1821-22, 217, 233, 238 to 244, 247,261.
1S22-23, 247, 261,.268, 293.
18^3-24, 276, 293, 300, 330-1.
from 1st Jan., 1817, to 1st Jan., 1825, 284.
in 1824-25, 312, 330 to 352, 354,371,476.
1825-26, 353, 371 to 382.
1826-27, 392, 413 to 438, 451, 457, 460,
472.
from 1821 to 1828, 442, 448, 451,, 465, 473.
Revenue, state of the, during the late war, reviewed, 5.
laws passed in 1815 for increasing the, 12.
from what sources derived, and the amount in 1815, 12, 23, 30.
received from all sources, from 1st Jan., 1812, to 30th Sept., 1815,
16, 30.
laws relating to the several branches of, reviewed, 8, 34.

laws, modifications of, proposed, 36, 38, Mo.
http://fraser.stlouisfed.org/ improving the, 38.
plan for
Federal Reserve Bank of St. Louis

534

INDEX.

Revenuej amount of. in 1814-15-16, 73, 88, 96, 110, 144.
1817, 89, 96, 110, 117, 144, 167,
1818, 111, 144, 150, 167, 198.
1819, 145, 155, 167: 184, 198.
an augmentation of the, recommended, 149, 204, 223.
amount of; in 1820, 167, 184, 198, 210.
1821, 199, 217, 226, 232.
1822, 218, 237, 254, 260.
1823,' 247, 266, 276, 286 to 292.
from 1st Jan. 1817, to 1st Jan. 1825, 284.
in 1824, 276, 299, 312, 328, 3.30.
1825, 313, 335 to 337, 354, 368 to 370, 476.
1826, 377, 392, 413 to 416, 432 to 438.
1827, 393, 422 to 424. 448, 451, 457 to 460.
from 1821 to 1828, 442, 448.
how affected by the issue of Treasury notes, 496.—See Merchandise.
Revolutionary claims paid under act of 15th May, 1828. 466.
Rice, amount of, exported in 1825-6. 361.
S.
Salt duty, ceases in 1816, 9, 34.
a continuation of the, recommended, 36.
Silk, observations on the culture and manufacture of, 364.
Sinking fund, operations of the, to 30th September, 1815, 20.
rise and progress of the, 21, 39.
further powers necessary to the, 40, 77, ^
statement of the, in 1816, 83.
stock purchased by the, in 1817, 106 to 109.
1818,124.
1819, 164.
1826, 358, 382.
7 per cent, stock, to be purchased by the. 252.
operations of the, from January, 1818, to January, 1829, 440.
Slaves, <fcc., amount received from Great^ Britain for. 393, 460.
amount'paid, 461, 466, 472, .473.
Specie, effects of the suspension of the payment of, by banks, on the fiscal
.operations of Government, 12, 24, 40, 114.
payment-of, resumed by banks, 114, 490.
amount possessed by banks, and in circulation in 1819, 482.
causes of the suspension of the payment of, by banks, 484, 490.
an article of commerce, 494.
Spirits distilled in the United States, duties on, to be modified, 36,178.
importation of, to be prohibited, 178.
quantity imported.—See Merchandise.
Stamp duties, cease in 1816, 35.
a continuation of the, recommended, 36.
Subscription to the Bank of the United States, 90.
Sugarj quantity imported.—See Merchandise.
refined, duties on, cease in 1816, 35.
a continuation of the duties on, recommended, 36.



INDEX.

535

Surplus fund, unexpended balances carried to the, in 1815, 29.
amount applied to the payment of the public debt since
January, 1817, 441.
Surplus revenues may be applied to internal improvements, 81, 252.

Tariff of duties on imports, a modification of the, proposed for the better
protection of domestic manufactures, 149.
a revision of the, recommended, 204, 223, 252.
325, 397,
present compared with former, 304,
of 1828, effect of, on the revenue, 445.
'Taxes, a view of the several descriptions of, in 1815.12.—See Direct taxes.
also. Internal duties.
Teas imported, a reduction of the duties on, recommended, 325, 409, 445.
—See Merchandise.
Tobacco exported in 1824-5-6, 361.
Tonnage, amount of American and foreign, 111 1814, 65.
1815, 82, 95,150.
1816, 95, 150.
1817, 116, 150, 179.
1818, 150, 179. 205,
1819, 179, 205.'
1820, 205.
1821, 225.
1822, 253.
1823, 285.
1824, 352.
1825, 367,
1826, 438.
1827, 456.
1828, 443.
Treasury notes authorized to.be issued! in 1815, 13.
amount received from, in 1812-13-14, 15.
issued prior to February, 1815, and outstanding, IS,
may be funded, 19.
for what purposes issued in 1815, 26.
amount received from, in 1815, 31.
re-issued prior to October, 1815, 52.
estimated amount of, unpaid in 1816, 64.
issued, 92.
funded and outstanding in 1817, 104.
1818, 112, 125.
stock issued on, to 31st December, 1817, 121.
outstanding in December, 1819, 165, 187,
October, 1820, 189.
November, 1821, 215.
October, 1822. 246.
1823, 275.
1824, 310, 345,



536

INDEX.

Treasury notes outstanding in October, 1825, 316.
1826, 387.
1827, 431.
1828, 474.
constituted an essential part of the circulating medium in
the Eastern States in 1815-16, 490.
expediency of issuing^ as a relief from the general • pecuniary distress (in 1820) considered, 496.
W,
Wines, a reduction of the duties on, recommended, 409.—See Merchandise;
Woollen fabrics, further protection necessary for manufacturers of, 149,400.
Y
Yazoo claimants, statement of, awards' in favor of the, 126, 166, 190, 216,
246, 275, 311, 345, 387, 431, 474.