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REPORTS

SECRETARY OF THE TREASURY
THE UNITED STATES,
PREPAREI>

IN OBEDIENCE TO THE ACT OF MAY 10, 1800,
'SUPPLEMENTARY TO T H E ACT ENTITLED 'AN A C T TO ESTABLISH T H E TREASURY DEPARTMENT.'"

TO WHICH ARE PREFIXED

THE REPORTS OF ALEXANDER HAMILTON,

PUBLIC CREDIT, A NATIONAL BANK, MANUFACTURES,

THE ESTABLISHMENT OF A MINT.

VOI^. IV.

WASHINGTON:
P R I N T E D BY J O H N C. R I V E S .




1851.

•^mm.i^Wim - ypj^'^il'iWPii.-,.




..J'.

'• ' ' - ^..! ' I ' i f i | p i ! . :

H50

T A B L E OF C O N T E N T S .

Page

Report by Mr. Woodbury on the Finances and Cur-.
rency.
ifi.
Sept., 1837
Report by Mr. Woodbury on the Finances
D e c , 1837
Report by Mr.. Woodbury on the Finances
D e c , 1838
Report by Mr. Woodbury on the Finances
. D e c , 1839
Report by Mr. Woodbury on the Finances
D e c , 1840
Report by Mr. Ewing on the Finances.
June, 1841
Report by Mr. Forward on the Finances
D e c , 1841
Report by Mr. Forward on the Finances
. D e c , 1842
Report by Mr. Spencer on the Finances
. D e c , 1843
Report by Mr. Bibb on the Finances
D e c , 1844




1
89
175
231
351
437
461
485
597
649




I ..

.Xi

HEP ORT SSECRETARY OF THE- TREASURY OF THE UNITED STATES.

REPORT. ON -THE- FINANCES.
•; S E P T E M B E R , 1837.\ z.;

, ^ • ,
TREASURY DEPARTMENT,; A »j ^m e^
S ep e &?
IN pursuance of the duty of this Departnient to submit to Congress,
•at each" session, the. state .of the finances,- and in conformity with the
request of the President that such other fiscal matters should, on this
occasion, be presented'as appear to" require early legislation, the undersigned has the, honor to offer the" following report:.
^
.^ -I. CONDITION OF THE TIIEASURY. ,

It is not proposed to give all? the particulaTS relating to the receipts
and expenditures which usually accompany an annual state.ment; but an
exposition of them, under the customary general heads, so far as they
have been ascertained, for the first half of "the year, is subjoined.
Brief estimates foi\ the other half are iiiade; and such explanations
added as^ seem necessary to show with clearness not only the conditionofthe Treasury atthis time, but its probable state for the residue of the
•year.' '• /.. fi-.' ' ;v. - ' \ - . f i . " ' ' • : '
.
According-to the Treasurer's running account, the. whole amount of
available money in the Treasury.on the 1st of Januaiy, 1837, applicable
to public purposes, was $42,468,859 97. ' From that sum, there were on
that day reserved $5,000,000; and the balance, being $37,468,859 97,
was, under the provisions of the act of June 23., 1836, to be placed in
deposite with the States? . I t is ascertained that $27,063,430 80 of it
have since'been actually received by them.
. /
The amou-nt of that portion ofthe first three iustalnients tie payment
ofwhich has. not y e t been acknov^ledged, though transfers'^ere seasonably issued for it, is $1,165,575 .18. • The remainder is $9,367,214 98,
aild is the sum which was designed for the fourth instalment of deposites
with the States on the Ist of October next. The aniOunt reserved in
VOL. IV.—1.



2

R E P O R T S OF T H E

.

.

[1837.

the Treasury on the 1st ofJanuary has since been increased, by returns
subsequently received from banks, to the sum of $6,670,137 52; and
which of course could not then be ascertained or taken into computation.
^

Receipts.

.-

'f

The receipts in thefirst half of the year, deposited in banks, and
paid on drafts by collectors and receivers, so far as ascertained,, have
been:
'
, .
- . ., From customs'.
..-.:.
'. .$7,234,451
From lands
..:......-....
5,303,73.1
And from miscellaneous s o u r c e s . . . . . . :
- - - ^ - - 5r2,263
To these may be a.dded about $600,000 which remalined in the. hands
of receivers, and $50,000 in those of'collectors, subject'to draft. All
these mske the aggregate for that .half of'the year $13,187il82. iCno
further postponemeiit be granted on duty bonds, it is estimated .that" the
whole receipts for the last half of theyear, frorn all sources^; will be abput
$9,500,000; which would make them, as "ascertained and'estimated, for
the whole year $22,687,182. But if. the brief' exterision of the present
'
postponement, brought into view hereafter and favorably regarded, be .
directed by Congress, the receipts will probably be about :$7,000,000 ;
while, by a postponement ofthe whole to another year, they willnot be
Hkely to exceed $4,500,000." •
' ^ ' : ' • • ']
' \
Looking at our whole revenue,'therefore, from all quarters, it appears
I that the balance 6f moiiey reserved at the cbinmencement of this- year, as
I finally ascertained to be $6,670,137, with .tbe. actual receipts for the
^ first half at $13,187,182, and those now anticipated for the last half of it'
'^
i
at $7,000,000, will constitute an aggregate of $26,857,319.
- •'
Exijendittcres,-.

,

'•'.,'

The expenditures duringthe. first half ofthe. year were^ for
Civil, miscellaneous, and foreigri'intercourse.. .$2,812,540'
Military, including pensions. .,.•
' . ' . . . . . . . . 10,60.3,361
Naval........
...'...-...,.
• . . . . . . . . : 3,297,149
Publicdebt.-..:..,..... . . . ' . . . ; . . . . . ^ :20,832

.' - ^
40
49
69:
75-

.Making an aggregate of:! l.,... : . . . .$16,733,884 33 '

.;

The expenditures required to meet existing appropriations, during the
last half of the year, will, as computed, equal the sum of $16,000,000 ;
making for the whole year $32,733,884.
' _
'. Whatever expenditures shall arise withiri the year, upon, new appropriations which Congress may think proper/to make, will require a corresponding addition to this amount; but without them it will constitute
an excess of $5,876,565 of expenditures dver both the' receipts and the
balance at &e commencement of the year; besides not. leaving, at the
close of it, a:\iything in the Mint or the'Treasu'ry for future uses, or to'
meet contingencies.
In order, therefore, to dischai'ge that excess, and retain, of the irioney



1837.]

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

3

reserved on the 1st of January, one million, which is .the smallest sum.
deemed proper, under the acts pf Congress, fbr the efficient operations of:
the Mint, and at least three or four, niillions more to answer sudden and
contingent calls, ihere will probably, be a necessity to resort tb the
deposites now with the States, and to the instalments destined for them in
October, or to sonia. other resource, for a sum.equal to $10,000,000. By
a report of the Treasurer ofthe SOth ultirno, it appears-that'the. balance
iri the Treasury, including what was in the;custody of banks, the Mint,
and collecting officers, was theii* $14,596,311; that the amount of this
subject to irnmecliate draft was only'$8,928,072 ;, but the-whole balarice
i n t h e Treasury,.including all which had been deposited Vith the States,
arid ordered to be, though only a small part of the amount is subject to
immediate-draft, was $41,532,381. Deduct all which has been, and was
designed to be, 'deposited, with the States, and their would be no balance
left on hand subject to draft, though including eveiy thing in the Mint,
and in the possession of receivers and collectors, which is applicable to
general purposes. ':
'fi. • ; •-'"•.
.^ .
. ^
; Hence'^it is probable that, besid.es the deficiency for the expenditures
of the year, no' sufficieiit means pf any kind AviU exist on the 1st of
October next, after defraying the'intervening expenses, to complete the
instalment of deposites then payable,"unless a-large part ofthe bond^ for
dutiefe postponed to. that; day,:.and amounting to near $4.,000',000, and
the millipn and a half then due. on the first bond from the Uriited States
Bank, shallbe punctually.paid,.Qr, in the mean time, some provision on
this subject'be iiiade by,Gongress.;. . '. •
'
The money .standing, tp the special; credit .of. the Post Office Department arid the Patent Office, ks well as various trusts, is nbt included in
the above exhibit, for reasons explairied in the, last annualreport. Out. standing .and unexpended appro.p riations at the end o f t h e year will, in
this view of our financial conditipn,:be still left charged on the Treasuiy,
aiiiounting tdVabout $16,000,OOOV . " ' . ^ *, •
' -This does not differ much from their amount - at \the' close of the last
yeai% Whether the* appropriations unexpended on the 1st of Januaiy,
1838, proyeVtherefore, t o b e one or two millions larger or smaller than
is" now anticipated, it niust be manifest, from; all the above data, that
some iiew legislation is,indispensable to/complete-satisfactorily the service of the year, and leave a suitable ambunt in the Mint-and-the
Treasury.. ' ' .. • • . '. ^ : , • '•- .
•
\
v
^
'Indeed, before submitting thelast .annual ..report, the indications of a
decrease in the receipts, and of an 'approaching revulsion in our commercial prosperity, appeared'so".strong to the undersigned, that he felt
conipelle.d, with reluctance arid! regret because differing so much from
the views of many others,'to- estimate the accruing receipts for the year
atonly.$24,000j000.
, ^
.
\
•
As the appropriations asked fbr were about $27,000,000, it was
then suggested that the oceurreiice.'of a deficiency was probable.
When those appropriations became in fact enlarg;ed^ by Congress to
more than $32,000,000, itYendered a deficiency inevitable, to the extent
now anticipated, unless the- receipts should happen greatly to exceed
the estiinates.' .: .
»•
'
'



4

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

[1837.

i l . ON THE POSTPONEMENT OF THE PAYMENT OF BONDS FOR DIFTIEg.

The first suggestions which will be; subniitted concerning such special
legislation^ as appears proper in: conseqiience of the' recent embarrassments of the country, relate, to the. postponernent o f t h e paymentof
bonds for duties. / '
;
;
• '
'' . • • '
^
. *•
Early, in May last, the collection of the.reyenuefrorii customs, became
niuch obstructed/ through the severe pecuniary difficulties .of the mercantile interest." The Tieasury Department felt an anxiety not'only to
take steps .which might increase the security bf the Oovernment for
eventual paynient, but, in an •emergency so great, and toVrnany so unexpected,, to furnish all th,e relief from saciifices which coiild judiciously
be extended uiider its limited powers, and in anticipation of what •would
probably be its straitened Gondition in a few;months.".:.. • ' •
,
°:--fi^
A postponement ofthe paymerit of; the l)oncls falliiig due w^as, therefore, and in accordance with the views of the; Executive, authbrized. for
periods from thirty to ninety days, on interest and aclditibnal s.ecurity,
and in a manner more liberal than.v-usual, by permitting' it before as
well as after suit,, iii all cases of embarfassmerit, .great -hardship, t)r
insolvency. .
- • ^. • = ' . / • •
..^ •• • ' • - < .
. -• The peculiar ternis, and the'reasons for.such, pQStponement,,.are more
fully set forth iri the documents anii'exed. [A. Letter from; the- Secre-tary of the Treasuiy to the-Cpllector of 'New York.; B." Instructions o.f.
„ the Solicitor of the, Treasuiy.] .. /-'-''/^..fi ": • '• .
,
^
; When the difficulties in discharging boiids inalegaTcuiTency became
increased by.the suspeiision of specie; payiiierits in some of the principal
' cities, and the President decided to call; a .special session of Congress,
the postponement was allowed to be. ex:tended ;till after the'conimencement ofthe session, in ord^r that • an opportunity might be affoi]ded to
obtain further relief-by new legislation;/-Urgent requests^weremade fbr
an indiscriminate delay of payment-pn all bonds to the: 1st of Januaiy
I next, and for the iecei.pt, in discharge, bf'them, of notes issued, by banks •
\ not pajting specie. . [See memorials from Ne.w. York,' Bostoir, and;New
Orleans, arid copies ofa reply .to one of them, and letter tp, Collector of
NewYork, C,'D, E, arid F 1 and'.2>], •' /
fifi'
;;^ ., . ^- . /
'
It was not deeriied proper to comply with these ieque^ts. But as
long a delay as pur fiscal, situation,justified, and every.aelief as to the
currency which seemed legal, by-the receipt of debenture certificates
and Treasuiy drafts for - duties, .were permitted,, ia-mitigation of the
existing embarrassments." • . ' / . ' .
•
'p
,
Having, in this, done all that a sound arid liberal e:^ercis.e of the discretion of the Department appeared either^ to justify or requlie, ''no
intention existS^, nor would it be proper In the present state, of the
Tr.easury, to grant any indulgences beybnd those ^already authorized, ^
without the express direction of Congress.
°
.'
Some further facts which may be useful to aid its members in coming to
a correct conclusion onthissubjectV are, that the ariiomit ofbonds which'
have already been postponed to the 1st of October, is about $3,500,000
and by that date will, it "is presumed, be iricreased to $4,000,600.
If Congress'permit nb'loiiger ppstpoiienient, the. receipts for the year



1837,]

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

•

5

will probably be increased by the indulgences already granted, as they"
have been allowed generally on additibnal security, and always on
interest,
*
•
.
. .
•
But as suits and delays in collection Xvill still occur, though, to a less
extent than in the. first stages of the pressure, it is expected that not
over two-thirds of the amount postponed before the close of this month,
can be. collected during the current year.
' .
The bonds, already put in suit since the middle of ,May amount to
nearly $1,000,000. But if Congress exteii'dthe postponement tilf next
'Januaiy, asAvas originally requested by somevpf the parties, or for one
year, as Vecently, requested by the Chamber of Commerce of New
York, ,(F '3,) the'receipts for the present year will probably be thereby
lessened from four to five millions.
Should Congres's,ho'\yever,'adopt an intermediate course as an act not
of meie benevolence but of additibnal relief, which appears reasonable,
under the.extraordinaiy.mercantile -distresses ofthe times,,and more safe^
to the Gbvernment in rpspect tO' eventual collections,' it might sanction a
delay riot to exceed,^altogether, six months beybnd the originarperipd
of payment, in any particular c^se. It is'computed that this would
diminish'.lhe:receipts, during the ,j>iesen^
about twb^ and a half
millions of dollars-; but if granted pn the usual terms, would increase the
receipts riext„ year in; a greater proportion, by the interest accruing as
well as by the fuller colle.ctioiiS; which would probably be madec. in a
grea;ter number of cases; , ' ' • ; .'
- V
. • "
The opinion of the. Departnient on.these various propositions is, that,
consid'eririg merely.our present finaiicial necessities, no further postporiementcan be regarded as expedient, though in some other respects, as fully
detailed in the'recent letter from the Chamber,of Cpmmerce, (F 3,) the
last delaj^mpntione.d might, be; found; justifiable and more beneficial.
. But if a l a w be passed extending; credit on the bonds, itis supposed that,
in any cbrrect view of the subj ect, its pro visipns need not be continued
in/orce beyond the. period when the worst effects ofthe pressure will be
likely to, have ceased,, and when all Imports could, by a .further exten. sion of the warehouse system, be advantageously made payable in cash,
• at the time the goods are wanted for immediate consumption.,
. '•
' 'The extension of that systern-is, therefore, respectfully recommended
to the.Gbnsideration'of Cbngress, in connection with the present subject,
as it might introduce • as great an imprpvement in the collection' of imposts
as the substitution pf cash for credit; did in the cpllection of revenue from
the sales of public .lands. • It would certainly increase the security, ease,
and promptitude 'of the bperation; -would dispense entirely with the
trouble and risk, in the',payment of debentures.; work favorably to the
manufacturing interest's;. ;and, a t t h e same time, facilitate our trade in'
foreign articles as well as exonerate-the "merchant from many embarrassments in regard to sureties and guarantees.;
•
.
III. pBST^ACLES i N ^ T H E WAY bF TR
.

'

•••

' O F

LAST INSTALMENT-

" D E P O S I T E S . TO THE.S^T^

Earlylegislation^.has hkewise become necessaiy, either to withhold or



6

.

R E P O R T S OF T H E

[1837.

postpone, for a reasonable period, the fourthinstalmentof deposites with ^
.the. States, or to furnish such aid as may be necessaiy to complete the,m
in a satisfactoiy manner.
;
-^
.
• .
•/ By the general suspension of specie pa5anents, and the consequent
/ necessity, under the deposite act, to: discontinue most of,the public
/ " depositories,^the transfers from the banks in the West and Southwest to.'
the seaboard, which were necessaiy to- place much of the money in a
position to be conveniendy lodged, with the States in October, hkve, in
several instances, been defeated. They had, as in case of the former
instalments,, been ordered seasbnably,/though, as a general rule, only
where rendered proper in consequence of a gieat accumulation ofpublic
funds in an unfavorable situation, on account-of the:course of trade and
exchanges, to'be paid directly to the respective States. B,ut, in the
trbubled; condition of the mbney market, they had., ndt ;been. injuriously
hastened as to the time of payment, and, bpnsequently^ falling .'due In the
course ofthe summer and early in autumn, near two-thiirds.of the whole <
amount of these funds still on hand have been detained in ^the, West'and
Southwest, where they had, so unusually augmented from the. large sales
of public lands.. Hencey if the^ last .deposite with the States was, in this
position of the money, tb be. attempted, the. orders directing it must, in
many cases, be made on places rempte, and veiy inconyenient to some
of the receiving States, on account of the .unfavbrable halance of ^tradcj
or.the rates of exchange; and must be ,met, if at all, in a currency unacceptable and greatly depreciated.; Transfers pf,portions ofthe; Jufy
' instalment cbuld not, from the same cause, be effected in the p'te'cise
rhode intended, nor from the banks most-desirable, tiiough much of it had
reached the apprppriate points to render the operation easy-befpre the
, suspension of specie payments. In ,all cases in which they:we.re not
offered to be paid, in a currency satisfactory.to the States, their agents,
were requested tb return the orders of trarisfer till ^Congiess could.make
new and suitable provisipris ori.-.the-subject. [See form - oif letter and
N....^postscript to States, G.] ^ '
'
^. ' .
.-: .
But this request has not alwaj^s been cpmplied with. About .$1,165,575
of that instalment has not yet beenreceiptecLfor b y t h e Staites to the
Treasury,-nor. the orders ieturned.,• On the coritrary,. the.United States
;Baiik chartered by the State of'Pennsylvatnia has.lately become the
purchaser of several of these: orders, thbugh not givepL by any; debt,, but
merely directing a transfer .from one'public depositoiyto another.. , This
institution has demanded of the banks on Avhich they aie draivn that
paymerit should be made to her in specie; and,,on their failing to do sp,
• has caused the orders to be protested. '-Under these circuriistcinces, and,
as the deposites. with the States were to be imde of what was in the
Treasury, arid consequently in'the bariks, on the 1st pf January last; it
is for Congress to decide whether payment shall be made of any of those
orders- in a mode ahd currency differeiit from the rest-of the. third
instalmentof deposites with, the States.
..
, ; ^
•pi. Another reason for withholding pr.postpbnirig-the October,deposites,
,/ or for some legal provision to aid in.completing them, is, that a sum equal
• to the revenue probably accruirig, and a large portion of these deposites,
had, befbre they were payable, been expressly .apprppriated by Cpngress



1837.]

SECRETARY OF T H E TREASURY.

7

to other objects. When looldiig to the rapid decrease in our receipts, to
the expected deficiency in the course of the year, and the great amount
of outstandirig appropriations which, atthe close of it, wiU be left unpaid,
much of that whole instalment seems likely to be needed ^ at an early
day. By either of the first two measures, the money could, according
to its original destination ,>, be applied to the necessaiy wants ofthe
General Government as soon as it can be drawn from the banks in legal
funds. In that way, so desirable an object would also be accomplished
without the expense and delay of the money being first paid over to the
States and then subjected to an early. recall. On the other hand,
several of the. States, might, in the present posture of their affairs, experience considerable inconvenience, either by not receiving it, or by soon
refunding a large portion of its amount; and many of the banks which'
hold it might be able more satisfactbrily to pay it to the States than to
•theTreasury. But, though the subject is one of much delicacy and
difficulty^" and peculiarly .proper for the final action of Congress, it may.
be expected' that. this Department should, express some opinion as to
which course apjDears riiost eligible in the present condition ofthe finances.
It is, therefore, with/deference suggested, that when regarding their
eonditibn and the.importance of meeting with efficiency and good faith
all the obhgations of .the Government to the public creditors, it would be »
most judicious to apply the whole instalment, as fast as it is wanted and
pan 'be collected, to the prompt discharge- of these obligations; and that
the last deposite 'with the.-States, nbt being a debt, but a mere temporaiy
disposal.of a surplus, should he postponed until Congress, in some
difierent^ state of the finances, when such an available surplus may exist,
shall see a manifest"propriety and ability in completing the deposite, and
shall give directions to'that, effect. Consequently, no further steps will
betaken as to the deposite of any pe^rt of that instalment till Congress has
had an opportunity, to. act upon the. subject in such a manner as, in the
present ppsture of affairs, its superior wisdoin may consider preferable.
IV. DIFFICULTY IN PAYING THEr AI'PROPRIATIONS, AND ON THE ISSUE OF
. TREASURYNOTES. .

Some furtherobstacles exist i n the way of dischargirig satisfactorily
• all the appropriations- which ^have been made by Congress.
> The effects' which may be produced' upon'" the accruing revenue by
, grariting or'withholding further delays-on bonds for duties, have already
been explained. .
^
:
•
-•
In addition to these, there is a hkelihood, in the present pressure, that
the payment of cash duties, to the extent of one milliori of dollars mpre
than usual, will be unavoidably deferred to another year, as the importers,
under the existing laws," are erititled to; certain delays, by keeping in
store the woollen gopds which pay such duties.
.
• ^ This circumstance, in connection.with the difficulty of coUecting the
bonds whether longer postponed or not, will sensibly increase the
. embarrassments which have been specially pointe.d. out, and otherwise^
exist, in paying with promptitude and in a legal manner the large
appropriatibns chargeable upon;the residue'^of the current year.



8

R E P O R T S OF T H E

.

[1837.

H^nce, after a considerable deficiency in the available means became
highly probable,,it was deemed expedient to adppt any judicious and.
lawful measure to remedy it which'was within the power of the
Department. Accordingly, though large quantities bf public lands were
still in market unsold, and though-the receipts, from this source during
the year would be higher than anticipateGl, in consequence, aniong other
things, pf a construction put upon'the preemption laws admittirig a large:
class of settlers to entries, it was supposed that some further tracts, in
places much desired by the new States, might prudently be offered. A
few such, have been advertised; ^but sufficient time, after due nbtice,
has not.yet elapsed to realize anything frorh them.^
•. • ' .
If the fpurth instalment of the deposites with t h e S t a t e s be deferred,
and the difficulty iri seasonably transferring it be thus removed, yet,
being chiefly in the custody of banks not paying' specie,; it is manifest'
that it cannot be immediately realized in funds suitable' to meet existirig
apprppriations. If it be riot deferred,' some further provisioir .will be still
more indispensable to enable the Treasury not only to place it.-with the
State^, but to pay all the public creditors and officers in a satisfactbry
manner, until the duties nqw due from themerchants, and the funds nowin the discontinued deposite banks, can be cbllected. I t i s triie tha:t a
resort to the States for refunding portions, of the large sums'already
deposited with them would also reiiiaiiiby law; but underthe limitations'
of the-act of June,. 1836, it would be very slow in its operatibn, and, if
complied with, would prove entirely insufficient to answer such an
urgent occasion as the present. Duiing the -ensuing quarter, th'e whple
amount that could be legally recalled would, not exceed'six hundred and;
fifty thousand 'dollars. Hence it seems expedient, either in aid or
exclusion ofa requisition on the States, ;(as may be.deeitiedmost-suitable ^
•by Congress,) to provide some'ternporary .resource until enough of the^
fourth instalment, or other, means in the . Tieasury,. can be rendered
available to discharge allthe public engagements. ' 'It need not b e a loan,
or an -increase of taxes of any kind, as .the General Governnient, i n
respect.to its finances, (whatever.temporaiy embarrassment the^ recent.
convulsions in cpmmerce and banking may have, created,) is far from
having any just cause for despondency. It is neither Pverwhelmed. with
a. national debt nor'destitute of large pecuniaiy resources on hand; but,
.entirely free from the former, it is so amply supplied with the latter as to
have in the Treasury over .forty 'millions pf dollars, arid eight or ten
millions more in bonds which will soon become payable. But-a large
portion being in deposite with the States, and the residue chiefiy in
banks -'and in the hands of merchants, uiider the difficulties before
named, in procuring proiiiptly and in a legal. crirrericy the ambunts of
money .which are needed, some .collateral; aid, fpr a" short peripd-, tiU a.
sufficiency can be .collected, appears to be judicious, if not iiidispensa b l e .

.

- . .,

• . , . . . ,

; ' , . • • ' . : „ . • • ' , .

'

.

^ " •

-

•

•' '•••:^.

.•',,' '

.

''"

It is; fortunate that the. energies of'the, cpuritiy generally. are not
parafyzed, nor its prospects clouded by any great physical calamities-;
and hence its immediate wants can, without doubt, be provided for in
vaiious.ways. . .
: ' ..
'
'• ^'" • One mode would be to.authorize the issue of Treasury notes, receiv-.



1837.]

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

9

able for all publie dues, but withbut interest. These would differ from
the drafts or checks now in use only as the latter are given for immediate
paymejit, and drawn on persons and banks" having piibhe money sufficient to meet them; arid, consequeiitly,'the holders must be exposed to
the trouble and expense of presenting them at the places where payable;
Still.they are.:nearly on :a par with specie. In thepresent deranged
state of' bank papef arid excharige, and in the favorable condition of the
Gerieral Government, by its ample resources and exemption from pecuniary liabihties,. to impart the greatest confidence in respect to the
jedemption of such-riotes, it: is probable that .they would readily be taken
at par by most ofthe: public creditors.' Especially would this be likely
to happen, 'provided they weie.issued iri denominations as low as twenty,
fifty,, and one hundred dollars.; and not in too large quantities, but used
only; in anticipation of the accruing revenue on occasional emergencies,
and to a limited amount.::'' ; ;-P^ •
• •
i ^'
Contrary to'expectation' shoald the Department, duringthe present
delinquencyof:many of the; public debtors, be exposed to such very
large calls, .aLild:Gonect so little revenue, as not to be able, by both the
above notes and drafts, to meet all its engagements i n a satisfactoiy
manlier, it would be desirable that the President should possess a
Gontingent authority tp ' cause Treasuiy notes to be issued beaiing an
interest not to exceed* six per cent. ;
',
,.
'
. Specie cpuld always be raised on these forthe public creditor when
he preferied it. But as notes beaiing;mu,ch interest would soon cease
to be used in circulation, (and if they shoukt not, would, as a curreiicy,
be.troublesome in the computatibri of interest, and too.strorigly tend .to
exclude specie from the country,) it might be advisable not 16 mske
them receivable at first for any public dues, but only to resort to that
measure afterwards, when it should be fouiid convenient for redeeming
them,
,
:;
-.
•
•.
'
In corine ction with the issiie ;of. any Treasury notes, it is- believed to
be wise to; make ample provisiori for their early'and final redemption.
This could:beaccomphshed byen^ctirigj that when the money-on hand,
in the Treasury arid the Mint available j o r public purposes may exceed
a given amouritof four or;five-.millipns, it shall loe the dutj^ of the Secreta;ry of the Trbasuiy to cause these notes (securing priority to any on.
interest) to be redeemed to such an exterit -as the suiplus may exceed
that suin, and what will probably be, needed-to defray current expenses.
It being believed that .,a reduction of the tariff, and' suitable regulations,
cbncerning the sales, of public land, ought at a proper time to be put. iri
force, so as to prevent anylarge;and regular accumulation in.the Treasury,
the Department would respectfully propose :that, in case of any unexpected excess beyond the sums a.boye specified, it -should merely be
invested, in a temporaiy itianner, iri safe State stocks at' their market
rate,'subje.ct to be •sold again whenever the proceeds shall be wanted
to discharge existing apprbpriations.
.•
An additibnaLconsideration in favor pf those measures is, that since
the payment of the public debt, w:hiGh absorbed any occasional surplus
of receipts,: it, is impossible, according to the views, expressed in some
previous reports frorh the undersigned,-that,- with sources of revenue so



10

R E P O R T S OF T H E

[1837.

fluctuating as ours, and so dependent on commercial prosperity, any
fiscal operations'should be long continued with ease, vigor, and uniformity,
without some such regulator as a power to. issue" and redefem Treasury
notes, or .to inyest and sell the investmerit of surpluses. ' By any other
course we should constantly be exposed to great -deficiencies or excesses,
with all their attendant embarrassments. If depositing the excesses with
the States, subject to be recalled to supply deficiencies,;, the pecuniary
profit to the whole Union will be no greater, while such a cpurse rgay
involve us in a seiies of vexatious demands on them, accompanied. by
various dangers both to them arid the General Government; and, in the^
meari time, it is feaied will,, in many instances, tend, tb excite excesses
and- evils similar to some of those under which the country is npw
suffeiino^.
'
, .• '
V. ON THE SAFE-KEEPINC OF THE PUBLIC MONEY HEREAFTER.

The arrangements for keeping the pubhc money which had been'in
successful operation for a few years' preyibus to the passage of the;
deposite act of 1836, became partially embarrassed, by carrying: into •
effect sorne of its provisions. But the enforcementof them all, where not
entirely perfected, was in seasonable progress in May last, when'the '
Department was compelled by the act to give notice, to .such" of the
selected banks as had suspended- s.p.ecie payments that they could no
longer be considered as general deppsitoiies ,of the jpublic money. [See
circular L]
\ \ •' : .,
.' - . > ;
.'^
A list is annexed, of all before ernployed in that capacity which have
been discontinued. [K.]
;• '" : .;: . .
' "'
After due inquiries to procure other depositories' in conformity to the
act, the Department has conipleted the appointment of only pne. This,
and four more that have not suspended,-with one that has resumed
specie payments, -(niakirig six in all,) constitute the present .bank depositories for general purposes. A schedule^ bf them is. added. ' [L.]- ^, • .
Duiing the inability to obtain specie-payirig banks' at pther points, the
Treasuier, being requiied by the closing part of the eighth section of the
act to keep and disburse the public money according tq -the laws before
in. force, has done it iri conformity to the very wide, discretion which
existed when no rules were in force that had< been pl;esQiibed by Congress, except t o ' ' k e e p " and .^'disburse the sarne"'under the "general
supeiiiiteiiclence of'the ^Secretary of the Treasuiy. A part of it has
therefore been kept in special deposite in this city, a portion of it iri the
Mint, and the residue with the officers collecting it, until it was. warited
for public purposes, of until it accumulated in such sums at any point
as npt to be probably wanted there for such use. [See tv^o circulars, M
and.N.-] In the first case, it-has from time.ip time been applied tp the.
payment.of creditors, by drafts on the'receiversot "collectors; and inthe
last, the excess has been directed tb be temporarily placed with banks
not remotely situated, and in speciaL deposite^ for safety, until wanted
. for expenditure elsewhere, or until some, new legislatipn shall take place
in relation to it...
, :
,, • ". ^ ,
'
/• .. V "
Under these circuriistances, the Department would respectfully siiggest



1837.]

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

11

some provisions which may be more specific, and may be required fbr the safe keeping and disbursing ofthe public money.
In the present • condition of-the Government and the countiy, two
systems are proposed, either of which, it is b.elieved, may be practicable
and adequate to the exigencies of the crisis. One is, an enlargement
and adaptation of the. system partially emploj^ed since the suspension of
specie payments,' so as to make it answer all necessaiy purposes. This
could be effected merely !by assigning to our existing officers.and!estabhshments some additional duties... •
, The Treasurer, at the - seat of Governrnent; the Mint, with-its. branch
at New Orleans, aiid another which has been contemplated and is much
needed at New York for other purposes ; collectors of the customs, and
receivers of money for the salesof land, as well as postmasters, might
all be directed to keep in safety, not only the public money collected by
them;, but aU actually placed iri their possession by transfer or otherwise.
As''fiscal agents^they might also be.required to pay over and transfer it
for such public purposes: as may be authorized b y Congress, and under
such regulations as the Treasury Department, from time to time may
prescribe. Indeed, the third section of. the Post Office law of 1825,
with the bpnd taken under it as. to the agency of the postmasters, is,
perhaps, already sufficiently.broad fpr that class of officers. Atpoints
like ,New York, and a few.others, where a-likelihood existed that the
sums would permariently be large, but which, under a reduced revenue
and. expenditure, would seldom," bccrir,, authority, might be given to
appbint the clerks now acting as cashiers or - tellers, under the collectors
and receivers, or • other mbre suitable persons, to act as keepers, and
paymasters ofthe public-money. But they shpuld be made independent
of the collectors and.receivers, and placed.under the hke tenure of office
and under suitable bonds. Additional means of safety, and such additional but; limited. compensatiori.to any, o'f .the above officers, niight be
provided as the increased risk and labor might-render just; but in only
a few. cases would these last be much augmented at any place.
' Taking the 3''ear 1834 as furnishing |i specimen Sufficiently large of
the probable ^business' in future connected with the. general operations
of.the Treasuiy Department,'but of. course not including the separate
establishmentof the.Post Office,:the whole number of warrants issued
in that year, was a httle under five thousand, and, though differing much
in actuaf amount, averaging' about $.5,000' each. This would be less
than twenty warrants a day,,and- hence Avould require less than one iper
day to be paid in each of the twenty-six States. They differed," in fact,
from'fpur per day in this District and two per day in New;'York, which
were :the highest numbersj to. only one per week in several of the States.
[See table P . ] . The busiriess at- each office daily, or even weekly, in
making payments of the drafts wo.uld, therefore, be very little. If more
than pne d.raft issued on a :w'arrant, the ^business would be increased in
that proportioii, unless the .whole pa5^ments-were reduced, as is probable,
hereafter, to'sixteen or seventeen'millions ye.arfy. p
• 'In iegard to the risk, five millipns in the Treasury at aii}^ one time, if
all .placed in the hands^ of collectbrs and receivers, would not, on an
average, exceed $30,000 with each ofthe present number.



12

R E P O R T S OF T H E

[1837.

But if the amount, besides one millipn inthe Mint, wa.s chiefly in the'
hands of half the present number, which would approach nearer tp. the
probable result, the sum with each wo.uld still be less than most of the
existing bonds of receivers; arid when exceeding theirs, or those of the
principal collectors, the excess, in most cases, could be readily'prevented,
or reduced, by being drawn out to >pay creditors, or :be conveniently •
transferred to.. the -Treasurer of the- United States at the seat bf Government, or to the Mint and its. branches. Until orie of the latter is authorized
at New York, the substitute before mentioned, of .one of the piesent
officers in the customs there as an independent keeper^ and paymaster
of the public money, could be adopted, arid, if deemed prudent, b e '
extended to,any other similar place. .- . /'
^
In this mode, the present number bf o;fficers connected with thee ollbc-.
tion and disbursement of the revenue throughout the. United States need
not be at all increased.' Nor will it become necessaiy, except.in a few
cases, to augmeiit their compensation.;. ; Twenty or thirty thpusand .dollars
a year would .probably "cover the whole additional ex.pense of every kind.
The other system-to which the attention arid consideration of.Congress
are respectfully invited, is a new organization,'by means, of commissioners'or receivers general, to gather the coUections to moie central
points, and keep and disburse therb a large pprtibn of the public money,
or such as could not be kept safely and expended corivenieritly in the
hands of-the collectuig pfficers; • Such an prgariization iriight be at pnly
three or.four of the most importaiit points;; or it might'be made more
extensive, and the number enlarged to eight or 'ten. This could be
arranged, in all important particulars, substantially iri the manner which
is now in very successful -practice in-.soriie-of the most enlightened and
opulent Governments of Europe, and: as was urgently recoriimended-by
this Department as early as 1790. [See extract O.] The only inaterial
difference need be, to pay,out more of the money'iie'ar the places wheie ,
it is collected, rather than first, to transmit most bf i t t o the-'seat of Gov- '
ernment. This organization of .fiscal agents would be advantageous as
a separate establishment for this business alone, and as-an independent
-check on most,of those collecting the revenue.- /-But it would require .
some addition to the present nuinber .of officers^ aiid in the first instance
would more increase the 23ublic.expenses.' . But the whole addition of principal officers*need not. exceed ten. • Nor '
would the increased annual expense.to the Governnient probably ampunt
to over-fifty or sixty thotisarid dollars,' a s t h e system would eriable both
the.'War and Navy Department-s''to dis.perise with several of their age nts
for ril aking local disbursements.. -The danger of any losses will be iibarly
the same under bpth plans.; It ;is impossible to conduct the affairs, of
Goyernment,,or the ordinaiy'transactions of society, '^yitho,ut trust arid .risk of some kiiid. But one'great object, w^herever .pecuniaiy.Qonfideiice' is reposed, should always be to requiie the best safeguards Which
appear reasonable; andineither of these systemSj as hereafter explained,
the amount trusted can be mbre easily kept >from becoming excessive,
and the hazard of losses i affecting the deposite agent, by his leridingor
trading, be fully obviated, by the strict-prohibition .of. b'bth. the latter
under severe penalties.
• ,.^ ' • . ,
^ " :
; '


1837.]

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

IS

Our direct losses from either collecting or deppsite agents have always'
been comparatively small. . Those by "the former, it is "believed, have
not equalled those by the latter, though the latter, being banks, have
usually in the end paid most of their deposites. . The losses by the
former are also, supposed not to have exceeded one-fifth of/those on the
bonds of mercharits . for duties', and probably not one-eighth of those
from the purchasers ofpublic lands under the credit system. ^
; Occasional and strict examinations of.the money on hand, where large
in amount, ^yo^ld• furnish a strong, safeguard beyond the character ofthe
officer and the property of himself and sureties, and which it might be
provided should be riiade by a committee'of .Congress, or in any other
mode deemed most-eligible tocohstitute.an effectual check.
The^ plans-which'have been explairied as to fiscal agents, are suggested Tor consideratibn^ urider a belief that either is appropriate in the
present posture bf. affairs; that they: require .but .slight-changes in our
existirig. laws or usages; arid,. Whatever objections can be adduced
agaiiist them,: will, at the same time, be found to possess many signal
advantages.
'. .'
.
' ;
.
. '" .
.
" They-wilknot''so much as some other. modes of keeping thepublic
money,'expose the Treasuiy-to disappointments and delays, through a
dangerous partnership of iriterest, or the-use-of that money for piivate or
corporate-purposes. As the vicissitudes of trade or speculation affect
the persons who borrow from -the public banking depositories, the evil
coiisequences must sornetimps inevitably reach and embarrass the Treasury itself. Nor, on th;e; other ^ hand, will these .modes, like oui* former
orie, cause frequent injury tb those..-who, trading onthe revenueof the
Government, are subject tb be inost pressed tb refund it when least able.
. It is beheved, likewise, that the.funds of the Treasuiy can be always
more readily comrnandedin a legal currency, and the hopes- of its creditors riot defeated, norits faith violated so often, if the money is not loaned
out either in full of in part, but, as in other, countries, i s retained in
specie oi* its equivalent and iri the' actual custody of officers exclusively
fiscah In pther countries, the public money is believed to be seldom, if
ever, chargeable to the. Treasurer tiUvit is either paid over on some
draft, so that he can get ci!edit for the payment, (and:.which,mode is
practised somewhat .in Erigland as well as here, and extensively iri
France,) or lodged, not. on deposite iri any bank, but in his own possession a t t h e seat of Government.'. In thefbrriier niode, the systems now
proposed, and especially thefirst one, would bperate so as to disburse at
each point most of the public money collected near, and would, thus
enable the Treasury to command its resburces with less delay;. the
mone.y not'being: previously paid over at soirie distance^ and to a separate
set of agents, as has; usually been the practice here in the.use of banks;
•nor iriuch of it transported inconveniently to the capital, as has -usually
been the practice elsewhere. : This mode would thus possess .one ofthe
greatest excellencies in any-fiscal system: which is, to pay over quickest
to the public" creditor, and with the least official complexity, whatever is
collected from the pubhc debtor.
'
.:
.
Besidesnhese advantages, others would be, that the mopey in t h e .
Treasury, under both of tlie plans submitted, can always be niore easily



14

R E P O R T S OF T H E

[1837.

'kept down to moderate dimensions by ieductions in the revenue, and by
temporary investments of.an occasional'surplus, as there will be no
antagonist interest connected with it wishing for loans-and the use-of
surpluses, and thus cooperating to prevent a reduction.
•
'
The existing establishments and officers,.whenever convenient,.would
be employed without a double machinery or the organization of a new
system, of agents.; Executive control would be diminished rather than
increased by them, because an}^ additional officers will be selected, not
by the President alone, rior the Treasuiy Department, as the banks now
are, but virtually be designated by Congress^ and the principal incunibents ap'|)ointed by the consent of the Senate. They Would also reinove
all ground for the.objection sometiines urged against the former system,
that the Executive alone exercises' an extensive patronage and great
moneyed influence through a host of bank presidents, directors, and
. stockholders, scaltered through every section'of the countiy, and selected
without the asserit or check of either House of Congress; in any particular
case, and making loans of the pubhc inoney froin consideratipns-meiely
political or official. A veiy wide discretion, will be thus restricted, arid ;
a prolific source of suspicion and imputation of favoritism and partiality
be entirely.stopped.
• : '
' ,
- -'
The" officers, under the plans prppbsed, will likewise be amenable
exclusively to the General Government, and npt be embarrassed/like
the officers, of the banks by conflicting duties and interests in respect, to
the States; nor iiivolved in those colhsions, jealousies, and recriminations,,
often attendant on that position.„ ""
.
The independent and harmonious action of each government in its
appropriate sphere will thus be more fully secured. The local; institutions, as a general principle, willbe left to the care and uses of tlie several
States which estabhshed them, without interference'on the. part of the
Geiijeral Governmerit, and to be regulated or discontiiiued, as deemed
most useful, under their pwn State policies, and inost'conducive to the
original pm-pbses of their creation.. Nor would, any general moneyed
corporation,, aside from the grave doubts which exist as to both its constitutionality and general expediency, have been hkely,' in such' a crisis
as that of the war of 1812, or perhaps that of the last spiing, to have"
proved a much safer, pubhc dppositoiy-than those local."iiistitutions.'
Though inore convenient in form for fiscal purposes than they; and .free '
from some objections as to want of symmetry-a:nd accountability which
obtain' against them, yet, if chartered on usual principles, and judging
from experience here as well as abroad, it. must have failed, in a trial
like those, to have sustained either our-pecuniary operations,, or its own,
in strict good faith and in due vigor. *
•
Without entering into details to illustrate thiscposition,.it is necessaiy
to notice oiily the single circumstance, that the Bank of England, during ^
a severe war, suspended specie payments ne'ai a. quarter'of a. century,
and thatneither of the two IJnited States Banks existed so as to beobhged
to encounter such a peril. But since the last spring, the riotes pf the :
second one, to the amount pf several milhons, have been allowed to sink
•into the mass of irredeemable and depreciated paper,;though issued under
all the high securities and sanctions o f a charter from the General Gov


1837.]

SECRETARY OF T H E TREASURY.

.

15

ernrnent, and with veiy large funds, still under the control of officers and
trustees deemed by the stockholders :exceedingly; skilful, and bound by
both law and contract tb redeem those notes in specie and on demand.
The systems which have been proppsed in. this report, if adopted,
could not be expected,to continue entirely exempt from losses by that
unfaithfulness or casualty to which all trusts in human affairs are exposed.
But they may be. surrounded with strong safeguards, and would'very
probably soon be enabled to answer, in a satisfactoiy manner, every
.purpose of the Government, in its conditioii so different in many respects
frorii that which formeily> existed, and >vhich was the paramount cause .
urged for the incorporation of our two fornier United. States Banks. Its
finances ^ are-not now burdened with-a national debt from seventy to one
huridred and thirty millions, and, besides our:'ordinaiy expenses, with
•the annual payment^ on account of principal and interest, of fiem ten "to .
sixteen millions, to be. first widely collected," and then transfeiTed and
disbursed at Only a few points on the seaboard. Jt is now with a'yearly
revenue, reduced from thirty and forty mihions;: to near twenty, and
probably soonto^be drily, sixteen or seventeen, and with a course of
expenditure which can readily be diminished'so as not much, if any, to
exceed the revenue in a riatural state; of busiriess. In large sections of
our couritiy,.and in su;ch a state of busiiiess, this expenditure happens
nearly and very, conveniently to correspond, in ampunt with the receipts .
in the same sections. /
\ '
. .
We are likewise, reposing in peace, with very supeiior means of cpmmunipation, whether by mail or personal intercourse, and with a greatly
incieased arid iricreasirig pprtion of gold in the currency, to render distant
transfers* and'paymerits iriore. easy., I t is manifest, therefore, that our
fiscal concerns will i.be greatly lessened, in amount as well as difficulty,
unless we shall .be visited-by wars o r other scourges, involving us in
debts and embarrassments of an aggravated character, arid which, fortunately, no sufficient reason appears fbr ariticipating at an earty day. ;
Under tlie proposed arrangements, the transfers, from certain points
could be pften effected, when'.required b y t h e Department for public
purpbses, not only with ease,' but so as greatly to facihtate the domestic
exchanges, in the^ mo<de of employing.drafts suggested in a subsequent
portion of this report. - In a more riatural and ordinary state of receipts
and expenditures, like • that in l'834„the transfers required to a great
distahce^ would nbt e^^ceed twb or three millions duiing the year, and
almost the whole of them were, at that time, in such a direction as to
yield a profit rather than be expensive tp.the banks which made themv
If the Treasurer were required to receive ...payment in advance, at
certain convenient points, for all lands sold, as has once been the consti:uction of the act of 1820, the probability is, that very soori all the
unfavorable transfers leridered necessaiy would become quite unimp.ortant
in amount, arid less expensive than the transportation of specie and
paper has been heretofore, from "the distant land offices tp the nearest
deposite banks,, before much of it was paid to the public creditors. It
will be seen that, by these modes of keeping the pubhc money, itwould
not be indispensable to employ any banks as a prescribed part of the




16

R E P O R T S OF T H E

[1,837.

system, although it might sometimes be convenient to use them as -individuals ^do, and as subordinate fiscal officers often do in other countries,
for the deposite and transfer of large sums, and particularly for special
deppsites, when looking merely to safety and early occasion-to use themoney.
• .•
-' .
"
;
' ' ..
•• No act of Congress, until the charter of the last Bank-of the 'United
States in 1816, required the public-money in the Treasuiy to be kept on
deposite in any barik whatever. The" whole subject v^as left-^to the discretion of this Department. . Even that charter permitted the Secretaiy
of the Treasuiy. to remove* the deposites- from the Bank of the- United
States when he thought proper.
-'
In the. supplemental report from this Department in 1834 on -the
keeping and •disburs.ing of the public money-, a s.tate of things like ^ the
piesent was adverted to and coiisidered. It was-observed, in regard to
such an occurrence, that it .will- then "become necessary to deyolve
* these duties ori some receiver or collector already in pffice, or on some
Vsafe agent not now in office, as has.been.the practice for years in this
' country in paying pensions at convenient places, near which there was
^ no State bank or braiich ofthe United States' Bank, and as has Ipng been
'the usage in^some countries of Europe, by.having the. revenue in certain
' districts chiefly received, kept, and transmitted through private agents
* and brokers.'• /
, • .
But it was added, that 'though the fiscal operations of the Govem-ment could, undoubtedly, still procieed through the personal agencies^
'before mentioned," and without any banks,' State or National, yet "it
' would be at someinconvenience and increase of expense, unless remedied
.'in a manner that rnay hereafter be developed, arid would not,'in'the ,
'Opinion of this Department, and i.n the present c'ondition of things, be so
' eligible a system as the present one; bepause banks, thpugh exposed to
' some dangers, and evils, and though not believed to bo necessary for
'the fiscal purposes of any Government, and much less of orie iri the
'present happy financial situation of ours, are frankly acknowledged to
' b e , in many respects, a class of agents, economical, convenient, and
'useful.'.'
^- - • :
:
. • " ' . ;.
- • . , : . '
. The use of State banks had then been adopted, and was proceeding
satisfactorily. For more than two' years after, it continued- to be in successful operation so far as regarded both convenience an^d safety. . But
now most of the State bariks have ceased, to. pay specie even for their
notes, and many have paid out, if not issued, vS.mall bills, so as not to be
in a situation either to be retained or to become fiscal agents in conformity to the requisitions of the deposite act.. A few others, who are
in a legal situation to be selectedj dechne to receive the public money
under,some of the conditions prescribed by the act. .
^ v
'. Nor is any national bankin existence, or, independent of its inexpediency in a political view, supposed to be capable of being established
constitutionally. Hence it is respectfully submitted to Congress, under
all the above considerations, whether'the early adoption of one of the
plans proposed is not "proper, and would not be highly conducive to the
pubhc interests. ,
'.
,•
•
. (
\:




1837.]

.

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

17

VI. SETTLEMENT WITH THE.FORMER DEPOSITE BANKS.'

Another subject that appears to require the early action of Congress
is the further indulgence which it may be. proper to extend to such of
the fbrmer deposite banks as are still indebted to the Uriited States. •
The facts which are supposed to be necessaiy to aid Congress in
forming a corre'ct decision on this subject will be'fully submitted. T h e
perils to which those banks'were exposed had caused to the Department
much solicitude for several months before the suspension of specie paymerits, and led to some precautionary suggestions which it felt bound to
make to them, so .far as appeared consistent with the .usual principles of
banking in this countiy, and not calculated, by creating sudden alarm,
to hasten the catastrophe that has since happened.
„ '
Besides the general cautioris'with respect to the excesses of bank
issues,-and' the> dangerous consequences likely to ensue, which were
detailed in the last annual report from this Department, .several instances
occurred y^liere, the course of the business of some of the depositories
appealing frorn their returns to'be.injudicious, special letters of advice
were deeined proper, and were written; A rigid system in requiring
additional' specie was also pui;sued in all cases bf unusual deficiency. In
regard to.the effect of these steps, on the banks, it affords the undersigned
pleasure tb add that, fi'om the completion of their selection after the
deposite act iDassed to the last-returns before their suspension, a great
reduction in the ..circulation *as well as discounts of many of them had
taken place,- arid, in several cases, a; much larger proportion, of specie
was kept on hand. Irideed, considering the extraordinary ainount of
public money paid out by theiii between last November and May, amounting to near twenty millions morethan their receipts during the same
peiiod, it is a fact highly creditable, to their prudence and ability that
the specie of all was ^reduced only fiem about fifteen to thirteen millions,
and their circulation, instead of .increasing, fell from near forty-one to
thirty-seven millions. - . \
'V"
. ' '
As a whple, theii^ specie, compared with their eirculation, coiitinued
to be almost as large in ;May.as in November. It averaged more than
one to three, or much more than has been customary with the banks in
this countiy, and was over double the relative quantity held by all the
banks in England at the same peiiod, and was in a proportion one-fourth
largerthari that inthe Bank.of England itself. Their, immediate means,
compared with their immediate liabilities, were somewhat stronger in
Noveniber than in May,;;but were at both periods" nearly. 1 to 2J, or
greater than the usual ratio, iri the best times, of mpst banks which have
a large amount of deposites in possession. [See table Q.]
. In this condition- of things, the suspension .of specie payment by the
deposite. banks was an-event not generally aritictpated.
The policy since pursued by most of them has bepri favorable to an
early discharge-of their';engagemerits ,to-the Treasuiy, and to a resumption pf specie payments. Many have gradually reduced their discounts
and circulation, as well as paid over much.of their pubhc deposites. This
may be more fuUy seen in the tables annexed. [Statement of a few
heads of'.condition in Noveinber, March, July, May, and. August.
"VOL. IV.—2.



^

"

18

R E P O R T S OF T H E

i

[1837.

' See Q..] Since the 1st of May, their discounts, as a whole, have been
reduced a,bput $20,388,776, their circulation.$4,991,791, and their pub, lie deposites $15,607,316; while their specie has diminished less than
j $3,000,000. Of the number of eighty-six banks employed at the time
i of the suspension, ten or eleven are supposed to have paid over all the
public mbney which was then in their'possession to the credit, of the
Treasurer. . In the custody of more than half the others^ an aggregate
of less than $700,000 remains unadjusted. Several of the rest still pos- .
sess large sums; but many of them have continued promptly to'furnish,
such paynients from time to time for meeting the public necessities,
that, according to the last weekly statement, the whole bcilance to his.
ciedit, which reinained uripaid in all of them, ^was only $12,418,041.
The amount thus retained by each may be seen. in. the schedule annexed, [K.]
I The course adopted in respect to the'deposifescf disbursing officers,
.; after the suspe'nsipn of spetie payments, and with a yiew.tb safetyas'
fj.well as to encourage the early resumption of such payments, 'may be
I seen more fully in the documents annexed. , [See circular S;] \ •
;
It was cpnsidered prpper to proceed, arid attempt to withdraw all the
pubhc money from the discontinued agents as fast a s i t was' wanted for
public purposes, and"as new and suitable depositories could be procured
to receive anything obtainable beyond such amount. But while the
former agents appeared tp be.secure, and.to.be inaking proper efforts.to
meet such calls, it seemed more coriducive to the everitual safety of the
money, and rnore consistent with true wisdoin as "well as the convenience
of the Treasury, to refrain from unnecessaiy .prosecutions and'costs till
the early session of Congress, wliich had been called in part for the
consideration of this subject. On the conti'aiy,-when any of the banks
persisted in neglecting to.pursue the prudent course of curtailment, and
in making no reasonable effbrts to discharge the drafts" ori^;them in an
acceptable manner, the Departriient .considered it a duty, however
unpleasant, to dehver their agreements and borids to the Solicitor of the
Treasury for suit. This has already, been done in -nine cases: in: some
as a matter of precaution, to obtaiii additional security beyond Ayhat had
been given; and in others, to„take the preliminary steps Tor:an action
against the sureties as well .as the principals.
'
. ^
Some of the additibiial banks-rendered riecessary to carry into effect
oile of the provisions of the late deposite act, have, on this occasion,
proved the least prompt and efficient'in-meeting their obligations; But
though the Ibsses ofa few may be ^severe, and considerable delay may
arise in discharging their engagements; and though it has been proper,
and has eviriced a.commendable s.ta>te of rnorail feeling iri many of them^
to strike at the root of the' present excesses in paper, by curtailirig
largely both their issues and discourits, and thereby, to'make/serious
sacrifices; yet the conditiori of them all appears to be such.as will,.with
the collateral .security taken in inpst cases, rendfer the United'States
probably safe against ariy ultimate loss. Considering the widcrspread
pressure of the times, which -had involved some of the banks, as well as
their debtors, in extraprdinaiy einbarrassments; and tha:t the public
money, as a general rule, had p'revibuslybeen.called. from therii only in.



.1837.]

' SECRETARY OF T H E TREASURY.

19

moderate sums,:as needed for expenditure and transfei*, it was not to be
expected.that several of them,Would.be able- to pay.-over -at orice, and
in specie,- the whole of the la:rge amount theriin their possession..
More especially was this not to be expected, when^ from the great
•accumulation of deposites, the specie of all of them at the time of the
suspension, as well as for many inonths before, though larger than the
•proportion held by most other bariks, did not equal, arid corild not, without making a sudden and great change in the. practice' under our whple
banking, systern, equal one half of their indebtedness to the Goverriment
alone.. I t i s presuiried that; a cpnsiderable. portion of the. ;money sirice,
as weir as formerly,, paid by the. banks on transfers) arid, df aft s, has, not
been demarided;rior .paid in Specie. V ;
'
,:.
. ; "
But no persons have .been vrequired.to accept anything else; rior, according to the views of the undersigned, could they be, without a violation, of-law and sound policy. '•••'- fi \
.' '
• The drafts of the; Treasurer for-debts, when drawn on banks and not
disGharged on piesentmerit;, have, under instructioris from; this .Department, been often taken up in its behalf by. the collectors and receivers,
^ in order as much as possible to reheve the pub lie, creditor from delay
a n d loss.", [See F,' and circular instructions lfi'] New drafts, when the
first ones were not paid i n a n acceptable manner,. have also, in some
cases j. been' giveri. on other; depositbiies, and' have helped to promo tesatisfactoiy adjustments. . •; . ; ; . . , • '
, -'-.
-.
'
Since- the discontinuance of most of the banks as depositories, this Department has also found; the use "of drafts inade directly pn receivers and
Cbllectors very acceptable tp.most of public creditprs;. arid by the specie
fortunately then on hand and since collected by the receivers, with a part
of-vvhat was before in theMint,'and'Soine.-.occasionally supplied by a few
of the banks and collectors j\ a large arhount of claimLS has 'been: paid, and
the Treasuiy is .ready to pay others in it, so far as practicable, at points and
ill a manner convenient to" many. ^But,'.tiU\the indebted banks resume
specie payments, .or increased cbllections cari .be made iri specie of what
is due from'them;arid from the merchants, it must be obvious that
the Department, however arixious to pay aU the public creditors and
offieers in specie^ when demanded, is.unable to accpmplish• so desirable'
•an object.
. '•'' . : ;; .': ^ •. • ; .;
v.; ,
This-is one of the evils incident to the existing state of the moneyed
concerns^ of the countiy, and which .cannotbe remedied, unless-Cbngress
furnish additional nieans, until specie payments 'are-.geri.erallylresumed.
Somb; interniediate"losses'by a :,depreciation of bank nbtes nirist: therefore fall on;those, whether creditor^ or officers of the, Goyernmentj who
cprisent to tal^e. thern rather than; submit to. delays inpaj^ment..
.Herice it seenis.highly reasbnable that the Government should hasten .
as fast, as ppssible:the restoratipri-of specie paynients, at least iby its forrner fiscal agents :whoaje'stilfi^^
/
. .
This would put an end to such Ibsses.'. It also seems picper that those
deposite banks which have not generally arisweied the demaiids on thenij
but have continued to re;c'eive;full interest on;^ thp. ^^^^
^^^
loanedcutyvshould\be reqiiired tp.p%"it.:pn .the .sum;S'*>tili retainedji:aiid
from .the periods-V^cxi:&^



20

-

R E P O R T S OF T H E

[1837.

ury. It is manifest that the members of Congress, coming from: every
section of the country, would be the best judges of what further lenity
or severity might properly be exercised towards them; arid knd wing-,
more intimately the causes and consequences of the suspension of specie
payments by the banks in their respective neighborhoods, can decide
with greater accuracy whether any indulgence cpuld liereafter be extend-^
ed to them appropriately, except on the condition of an early iesumptipn of specie payments, and ari allowance of interest duiing any. delay
in meeting their fiscal engagements. With the nieans of information,
possessed by the undersigned, he does not hesitate to express an opinion
that it shpuld npt be done without .a compliance with such conditions.
As further evidence of the abihty of most of theni on this .subject, i t will
be necessaiy. only to advert to the abstract of their' last returns which
has been pre'vioiisly annexed.
" .
.- >
From the mode of doing business in the Southwest, by^making. much
of their circulation not redeemable at home, but at distant pbints, arid
providing for it there by bills of exchange, (samany of which duringthe
past season have failed to be paid,) the situation of several of the banks'
there is least ehgible,. npt. only for an early'resumptioirof specie paj^—
ments, but for a speedy and satisfactoiy ad.justment of their debts to the
Government. But in the Western, and probably in the Eastern and
Middle States, if not elsewhere, - the ability to sustain such -payments
appears, by their returns, much greater than has been customary in this
eountry. Their specie, compared with their circulation, is as one to twb,
and one to three; and their immediate means, compared with their immediate liabilities, are over one to three.' ' Herice it;has been hopedtha,t'
the effbrts which the bariks were bound to' rnake^ wpuld lead,. in most
places, to the desirable events above mentioned, without very long delay;
[See circular "V.] The objection usually urged against an early fesurnption, that the, unfavorable balance bf trade against this country would, in that event, cause some of-the specie in the banks to be d-fawri out ^and
shipped, will, however .true in point of.fact, possess much less force when
it is, considered that the delay hitherto has not prevented the export of
specie. On the contraiy, considerable sums Which were in. ordinaiy
circulation have since the susperision been withdrawn, and' a portion of •
them sent abroad, while their place is badly supphed with depreciated,
paper. So happily adjusted, however, are the law's of trade, even in their -influeiice on the precious nietals, that while bur^custom-house books show
an export since the 15th of May last, chiefly to Englarid and France, of
$3,708,320 of specie, they show duiing the same time imports, chiefly
from bther quarters, of $3,140,020. Though the actual inipprts and
exports have botlit doubtless exceeded those,ambunts since, that period,
and the ratio bf.differencehas> been sornewhat greater, yet the total dmin
has:been much less than many have imagined, and produced less effect
on the gerieral ability of the countiy and the banks to have specie payments resumed and successfully sus.tained. Congress having pov^er to
pass a bankrupt law, it would be worthy of consideration, if the ppwer .
be ever exercised, whether aU bariks, aiid in any event,- as .recommended
by Mr; DaUas and Mr. Crawford, aU.employed, by the Treasuiy, should
not be subjected to.its proyisib.ns, and,.on;ariy important and deliberate



1837.]

SECRETARY OF T H E TREASURY.

21

failure in their pecuniary duties, be compelled at once to close their
concerns.
In respect to the bariks in the Distiict of Columbia, as well as others
connected with the General Government, it seems desirable that the
measures.adopted in relation to them by Congress should have a strong
tendency to encourage the earliest resumption of specie payments which
is practicable and safe. Tor this purpose, little doubt can exist that,
while thbse measures will be the most salutary which shaU evince a due
liberahty and forbearance tb the extent leally required by the crisis, they
should, beyond that, be rigorous in exacting the adoption of such steps
as are sanctioned by the .sound principles of currency and the public
faith. They-will then help, at an early day, to relieve the community
as well as the Treasuiyfrom a conditiori .of the, circulating medium
whiph, so far as it consists of bank paper irredeemable in specie, is" one
ofthe worst scourges which can be inflicted on" society. It is no less
hostile to.the best maxims of pohtical economy than usually subversive
of, every just sense of both moral and legal obligation. .
VII, ON THE MONEY RECEIVABLE FOR PUBLIC DUES.

The kind of money or curiency receivable for public dues-is another
embarrassment co.ncerriirig. which legislation has been deemed proper by
/many. A change iri'the existing practice has-been requested by others,
without legislation. • But, since the suspension of specie payments by
the banks, no change which should sanction the receipt of bank paper
not redeemable in specie, has been thought either prudent or permissible
by this. Department. Nor will such a one be adopted without the express,
direction of Congi-ess. [See.F 1, 2.]
Believing that specie is the best standard, and the- only one contemplated by the Constitution, for thepublic revenue and expenditures, as
well as for the ^value of contracts and property, every departure from it
for those purposes is deemed by the undersigned pernicious, if not unconstitutional. The question as'to the expediency of usirig any otlier medium^ for a currency is of a different character, and more, complicated.
But the ruinous cons'equences of a resort to continental money, bills of
credit, or any species of paper npt redeemable in specie, and which had
been developed in our own experience, as well as in the soundest theories, of pohtical econoniy, were undoubtedly, a principal cause for those
rigid provisions in the Constitution connected with* the currency. They
restrict any State from issuing mere "biUs of credit," :from making any
thing a terider "except gold and silver,'' or:passing;aiiy law " impairing
the. obligation of Goiiti:acts,''aswell as coiifine to Congress alone the
power " t o eoin money'' and >' regulate the value the.reof'' The exercise
of this last power,'manifestly relating only to metallic money, appears
to require-merely the coinage of a sufficient supply at the Mint, and in
convenient'denomination Sf for , all necessary purposes, and' of such an
intrinsic value as. While-preventing it from being depreciated on the one
hand, should, on the other, not be so underrated as to"cause it to be too
readily exported, or melted down for use iri manufactures.
.. The whole amount necessary for pubhc payments-has been much



22

.REPORTS OF T H E

.

[1837,

iriisappreliended. Without a surplus in the Treasury, it would seldoni^
exceed.eight or ten millions of dollars,'even if no evidences of debt, or
any Idnd of paper money,, were receivable. Like a running stream, the
coin which. floWs'in as cbnstaLntly flows out,;without much aGcumulaltibn;
one dollar helping to perform,^ in a single year,, the service of payrnent
and repaymisnt numerous times..; . Indeed, the people ofthe whole United
States do not, in a sourid state of'business and prices, need over-one
hundred and ten millions of an active circulating medium for all their
currency.. This would be a larger portion of Currency to our present
population than the average has been from the-adoptipri.ofthe Constitu-.
tion; and, if anexclusive metalhc currency;Gbuld be deemed desirable,
would require only about thirty millipns.riiQre than the-specie-which ;is
supposed riow to exist in the.-country. Butthepresent quantityof specie
being divided pretty equally betweeri the banks and indiyiduals, not
half of it is in active circulation; and, unless it becpmes increased and
much inore equall}'' diffused, some paperi.s,;bf course, necessary to preverit a sudden revulsibn in prices and valries.,;and-to supply' a sufficient
circulating medium for the legitimate purposes of the States; arid t h e '
people. Some paper will probably alw^ays ;be found converiient for
commercial • operations. It would therefore be invidious, if npt unauthorized, for the General Government-to deprive the States of, any sup- posed advantage: iri the use of it so far. and.so long as,they may deem
proper, or otherwise .to- interfere with their course in relation to it, except
to enforce the present constitut-iorial prohibition against issuing any M&
ofi. credit or making anything a tender e^ce^t [gold cind silver.. Care',
howeverj must be employed, incidentally, to avert, as far as possible,:
any evil influences which, niight. otherwise be exercised oyer <our own
fiscal operations bythe different local policies pursued bn a subject of so
much delicacy,'hazard, and'difficulty.
..
:.
The power which Congress may possess to legislate with .aviewpf
furnishing a paper purrency of ariy kirid for the ordinary uses of the
eommunity, or of iegulating,- in any-way, domestic exchanges,. is not
entirely clear nor well defined.- Whatever may be its just extent, it
seems seldorii, if ever, necessary to.be used while the States retain such
. a wid.e and iindisputed authority oyer banking;; arid w^hile, the local
institutions, as well as private -bankers, here .no, less than abroad, are
generally so competent to effect exchanges.' Such a ppwer is not expressly conferred • in the- Constitution, nor. does it seem to be imphed, '
unless, in the execution of some plain grants, it;may becorrie proper to
be exerted on any emergency, and without using; means otherwise forbidden j unwarrantable, or inexpedieiiti
. .. '•
,
-••..••
Ill .regard to. exchanges, it is. belieyed that seldom, if ever, has any
Government, .however unlimited its authbrity, considered "it wise to prer
scribe; speci al regu lations^ for effecting. them. : Such a Government might
weU feel" empowered / " t o reg.ulate commerce with foreign iiatipns," or
between its own States,ifithad any; but to:regulate exchanges between
individuals, would, in mpst cases, be jtistly deemed arbitraiy. On the.
contrary, the spurid: principles of trade, seein tp're^uira as little interference as possible with fixing the price-of commodities, or the mode and
medium through which they.shall be interchanged. Those principles



1837.]

SECRETARY OF T H E TREASURY.

23

would only yield ader|uate protection or security, furnish facilities appropriate and authorized, and estabhsh a good standard of value. . Indeed,
the balances of indebtedness between different sections ofthe country,
if left to work out their natural consequences on the rate of exchanges,
will usually, as they are riow doing, correct excesses in business in any
quarter, and be self-regulators far superior to any officious and, minute
legislation. The rate merely for exchanges can seldom, exceed the'
expense of transportiiig specie between any two places; andj if surpassing that, the excess must arise from what Goyernment has little power
to cure—that is, from the.difficulty in obtaining inoney where, indebtedness is great, interest high, and credit impaired. \
.
In regard to. the currency Which is most suitable for public pm-poses,
whatever may be the,authority of the General Government to make or ^
adopt a paper bne, in full or in part, it is difficult to perceive why, after •
having established specie as a standard, having forbidden anything else
to.be made a tender,,and having succeeded in encouraging the introduction ofa supply of it into the countiy very ample for all fiscal purposes,
it should expressly dispense with its emplby ment as the most usual
medium for those purposes. The fundainental acts of Congress as to
the payments for duties and lands have not made any exceptions in its
.use, or provided any substitutes except the '^evidences ofthe pubhc
debt." • Any exceptioris aUow;ed ought certainly never; to permit any \
thing except specie^ to be paid out as a rightful, tender by the United ii
States; and this principle has always been- strictly observed. But by
constructions adopted early in this Department, and subsequently by ;
the charters to the tWo United.States Banks, as weU as by an apparent;
sanction, in the jpint resolution-of 1816, differerit' substitutes of notes :
issued by'those and State bariks, have, at different times and underj
diflferent mpdifications, been permitted to be received in payment. These, I
however, have been-allowed only when regarded as a clear equivalent to ^
specie or by being readily convertible into it, and by being recommerided
by some supeiior convenience or utility as well as by great secuiity. As\
specie likewise combines safety, uriiforrriity,- gerieral use,, sound theory, ]
and almost universal experience in favor.of its common employment, i
the framers qf the Constitution doubtless believed, as has been the uniform j
practice since, that, all substitutes of paper, as they haye less intrinsic
value, though they often, by smaller w'eightor bulk, possess some qualities
of greater corivenience for certain uses, should never be permitted to be
forced on either" the Government or the community without their express
consent. As they depend also on credit for their worth, it must be
bad policy to countenance them for either public or piivate use, when
their credit does not rest on undoubted security, or to encourage such
small deiipminatioris of them as would be employed by those classes in
society whose'business is of a kind which .cannot be esseritiaUy promoted
by the substitutes—-whose profit is. little or nothing derived .from them,
and whose losses, where depreciations occur, cannot be borne without
distress.
'
.
..
r
. Another general, obj ect ion, to eyeiy substitute not resting on an equal
amount of, specie in;pledge to redeem it, which was the original idea of
a bank of issue, is, that it tends to dispense with the necessity of specie



24

R E P O R T S OF T H E

[1837.

in connection With the currency, and thus, by converting more of it into
an articlp of trade, expel it from the country; while a circulating
medium is introduced instead of it which"is usually less safe, and often
tempts to ruinous expansions in issues as well as business, so as to
cause great'fluctuations in piices, unsettle • the value, of property and
contracts, and sometimes strip from honest industry in a moment the
hard'earnings of years.
Besides these, a special difficulty, in the use of any other siibstitute
for public purposes, is the procrastination, disappoiiitment,;and embarrassment which, in case of its depreciation, are sometimes occasioned
by it to great national measures, .as well as the discredit thus cast upon
the wisdom of the Governnient for regulating its fiscal affairs i n such a
manner as to be unable to discharge punctually its engagements, and for
the exhibition of an example so riiischieyous to both'individuals and
nations. Anpther difficulty iri this countiy is the want pf equal value,
at different places, in any other, when compared with, the standard of
specie, and the virtual violation which its receipt for duties may thus
cause of the spiiit of that part of the Constitution requiring all imposts
to be "uniform." Nor can these two last difficulties be always entirely
overcome by the use of such paper, or any other, though redeeined'in
specie, and on demand, if it be taken a t a distance.from the place of its
redemption. But, in the administration of our fiscal concerns, it has
always been very desirable^ to avoid> the want of uniformity, and'the .
delayer expense, and sometimes the loss, incident to the receipt for
lands or duties of such notes if redeemable at a distance, and which
then would sometiriies occur before they could be converted into, specie ^
or such "inoney as the public creditor w^as. bound or Avilling to accept.
In order, therefbre, to prevent those injurious consequences, one .mode
has been to accept no State bank notes whatever for public dues, as is .
now, and; sometimes heretofore was, the practice in respect to lands.
Another has been, to permit none to be taken except such as, urider permission of the Treasuiy Department, the cpllecting officers or thepublic
.depositories were willing at once to ciedit as specie. .. :
;
In our early operations, for purposes of. facilitatirig remittances to the
Treasuiy, quite as much as fbr accommodation^to ethers, colleptors were '
instructed to receive certain State bank notesi payable near the seat of
Governmerit; and -which were to be credited,-as cash, when forwarded
by mail, or otherwise, to the Treasurer. [See a circular j 1789—H.]
The justification offered for this course may be seen in a report frorri this
Departnient in April, 1790. [H 2.] ^ The situation of the countiy, however, as to ease in communication, facility in exchanges, and the nearer
location of many points of collection to those ofexpenditures, has since'
undergone such great imprpvements as fpr,a long time to have rendered
the'receipt of notes.'.to aid in public transfers seldom necessaiy, and.
almost entirely;disused. , Another mode adopted by Congress has been,
to render the receipts of the notes ef'State banks, for any purpbse, less
mateiial, by pi:oviding those of a bank. chartered by the General Government, and making these last, by law, receivable for all pubhc dues.
But this inode has ceased; and the legality as well as, sourid policy ofthe
practice to receive the riotes of State bank.s for ariy public dues, whether

http://fraser.stlouisfed.org/
2 4 ^ 4 ^ . 6/^v(s^._,^
Federal Reserve Bank of St. Louis

1837.]

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

25

done with a view to fiscal or general conyenience, and though under all
the strict limitations before mentioned, has been questioned by some.
Others have considered any limitation whatever, by either the Executive
or this Department, as not justifiable, since the joint resolution of 1816.
It is, therefore, respectfully suggested, that a strong propriety exists for j ^ ^ '
Congress to legislate more explicitly on the whole subject.
'
It may be proper and useful to add, that as., most of the duties on
iniports have beeri discharged iri checks on the bank where the bonds
were deposited for collection, or in its own notes, and seldom in those
of banks at any distance, httle embarrassment has ever arisen concerning the payments for duties in bank notes. But in taking them for
lands, the remote situation ofthe purchasers, the receivers, and the
banks, has generally been such that frequent difficulties and changes in
practice have occurred duiing the peiiod while the United'States Bank
and its branches, as "well as the State banks, were employed as^'depositoiies. In our mixed system of a currency, and one so long and so
deeply interwoven with the business of the country, it was" very inconvenient entirely to avoid, and at the same time occasionally dangerpus
to permit, taking the bills of any,State .bank for lands; and the receipt
of. such notes was obhged to be either so restricted as to prove of little
convenience to the commuriity, or, a risk was incurred of many partial
arrangements .being made, and some ultimate injuries sustairied by the
Treasury.
' /
Under all these circumstances, the course least liable to strong objections appears to be-for Congress to presciibe some specific regulations
on the whole subject.
/
This could be effected by directing what alone appears safe, and what
is understood to'be the practice in both England and France. It is, that
..the bills, of no local banks be taken •\yhich.shall not, from the near locatioii of the bank, bp equivalerit to.specie; be able to be converted into
specie at very short periods by-the leceiver, and collector, so as to pay
the public creditprs' legally, if demanding specie; and be thus accounted
for at par, and without experise to the Governinent. Ariother advan-,.
tage from this course would be its salutary check on over-issues by the
• neighboring bariks. ' .
"
The bccasional convenieiice of sound paper currency for vaiious purposes, whether national or individual, such as large payments, distant
remittances, exchanges, or trayelling, is highly valued by some, and,,
where gold does not circulate, is often very considerable. But the difficulties in keeping it sound, the hazards and losses incident to its use,
and which have already been explained, are troublesome. Should Congress determine that it is proper to furnish, by its own authority, and fbr
the purposes before mentioned j spme paper medium of higher character
and other than what now'exists in-piivate bills of exchange or notes of
State banks j rio doubt exists that any benefits which may occasionally
be derived from; its employment can be readily secured without treading
on the debatable ground of either the power or the pohcy of chartering
a national baink.
- Certificates, not on interest, but payable in specie to bearer or order,
as "Nvell as being receivable for a;ll public dues, could be .authorized to be



26

R E P O R T S OF T H E

[1837.

giyen in paymerit to the public creditor whenever preferred by him and
sufficient specie existed in the Treasuiy. This kind of paper would be
very convenient in form, and would differ little' from the drafts now iri'
use on banks, except being drawn on a known specie fund, and expressing on its face riot only this, but its being receivable in the first instarice
for all public dues. It would possess the highest credit attainable in
society. •
As a practical'illustration of their probable Utility and convenience,
even the drafts, though exposed to several disadvantages which vtould
not exist with the certificates, are near the par of specie, and furnish
such facilities for large payments arid distant remittances that the amount
of. thein, pn both banks and collecting officers, kept out unreturned has
increased within a few months from the usual aggregate of about tWo
milhons to nearly four and a half milhons.
.• .
• If the demand for such, paper increased, publie and piivate convenience might be promoted, and an equal quaritity of specie a t . the same
time preserved in the country, by reserving for this purpose, from any
accumulation in the Treasuiy, a sufficient sum, and by placing it at a
few important arid convenient points, to lender a greater number of certificates rpdeemable there with the very coin whose representative they
are intended and honestly ought to be.' .
All the advantages of these certifica:tes could thus be furnished by
merely paying them out to the publip creditor wheri more desirable to
him than specie. . But no loans,of them appear advisable; nor any bank .
incorporation, bank officers, or bank machineiy, whatever, in connectibri
with, the subject. They would combine tlie most important requisites
appertaining to any paper curiency-^such as the greatest secuiity, an
entire specie basis,;and the unity of all issues iri pne. body; while the
control over these last, Avhich it is so yery desirable to preserve independent, would be placed and iegulated by law so as- to prevent any
interested or injurious excesses;. The whole risk would be the loss by
casualty or unfaithfulriess of any ofthe specie that was held to iedeem
the paper, and which, as well as the expenseSj would probably be in
part remunerated by the loss of certificates: before] they are returned. If
the iesidue of the expense shouljd'constitute any considerable objection
to the systeni, it-cbuld be fuUy obviated b y . a moderate and fixed
preniium for the certificates, either wheri issued or redeemed.
. The common drafts of this Departrnent, in their present convenient
form, possess one, advantage w;hich could .sometimes be imparted to
the certificates. "When used at places a'g.ainst which the balance bf trade
exists, but drawn on places in whose faybrit is, the former do now, and
may. hereafter; not only facilitate essentially the domestic exchanges,
but at the same time supersede nuriierous barik transfers and the more
expensive.transportation of specie itself.
The Mint certificates heretofore given on the deposite of buUion and
specie for coiriage, might easily be made running tp bearer or orderj and .
receivable for all public dues; and, in that way, would contribute to the
same desirable ends.
The preserit brariches ofthe .Mint, if not nunierous enough, rior situated
at convenient places fpr the receipt of ^specie and .bullion for this pur


1837.]

SECRETARY QF T H E TREASURY.

27

poscj might be aided by two or three agencies, instead of more expensive new branches, at points favorable to the interests of the Mint arid of
the community.
'
. =
; It must Ipe obvious .that,the paper of any bank will be less^ safe and
useful in being received for public dues, in proportion as it may want
such solid securities and foundations as the certificates before described.
But if the notes of State banks are made receivable for such dues, under
ce.rtairi hmitations like those which have been explained, the other most
desirable guarantees for their safety, whether looking to any use of them
by the G.eneral Goverriment, or to the durable interests of the States
themselves, seem to be for the. latter, first j to impose on the existing
bariks, so far as lawful, the checks mentioned in a subsequent partof this
comrnunication.. They, could next authorize yeiy few banks hereafter,
except those of meie discpunt and deposite; arid where the power of
making paper issues to pass as money is .added—a power so sovereign
iri.its character, and so indispensable to be vigilantly guarded, could
require a large proportion of specie to the. circulation and deposites to be
kept on hand, and, in addition, have the faith and secuiity of the State
pledged to indemnify, the cornmuriity,-as, in the case pfthe above-named
certificates, would be-pledged those of the General Government. This
would greatly increase the caution; and watchfulness of-all concerned,
and could be done^^by special laws, for that purpose, or by aUowing no
riew bariks'hereafter .except State banks so organized, or by requiiing
State, stocks, to be owned .by all the banks, and lodged in trust to the
extent .necessary, with; the specie ..ori hand, to secure the immediate
redemption pf all the bills issued and all the deposites payable on demand.
Ariptherkind of. security beyond what now generally exists, would be,
-never to permit deposites to be receiyed payable on demand in specie,
(a practice so very dangerpus to the-bill holders,) .'except in the case of
^special deposites kept for % inoderate compensation.; The only other
description of secuiity which is likely to prove" in. any degree efficient,
seems tp be o f a penal character, either by extending the provisions ofa
barikruptlaw to .all banks, as before sug.gested in respect to such as may
be fiscal agents,, or by allbwing all depositors, public or private, and all
.biU-hplders, not only alarge interest but severe prosecutions against the
directors after,any deliberate omission by banks tb discharge their duties
in the manner provided in their charters and contracts. The paramount
object in all such provisions, should of course be to guard against abuses
arid reform existing evils, though in'Some 'instances- the case may have
. becoirie so desperate as to. require even amputation to save life. Everything else concerning bank paper is; :s.up.pose.d to belong to the wisdom
and sound discretiori of the .several States, as they may prefer, from time
to timie, to create and employ it. Withiii the constitutional limitations, arid
as soon as deeriied expedient by any of.them, specie alone, or paper, br
a.mixed medium, of bpth,. as considered preferable by,each for its own
; purposes, can be,' if it be not now, estaHished.' Atthe-.same time, it is
hoped and.belieyed that np .wish exists in any quarter to prevent, but
rather a deep and general anxiety, like that evinced by Congress, the
Executive,,and this D.epartment, for some years past,, to encourage the.




28

R E P O R T S OF T H E

[1837.

same sound currency for the uses ofthe people and the States as for the
fiscal pperations ofthe General Government.
vm.

SOME GENERAL CAUSES AND REMEDIES-OF THE PRESENT EMBARRASSMENTS.

In conclusion, it is the intention of the undersigned- not to advert to
the chief causes of the recent calamities, except so far as they are con^
nected with our financial condition, and as appears necessary to iiidicate
^briefly a few remedies by means of general legislation.
Without doubt bne of these .causes was the over-production of cotton,
coupled with the large arid sudden depreciation of its price. •
The whole product, though befbre so great, had, within three years,
been increased probably more than one hundred mUlions of pounds, so
as to exceed in a single year the enormous quantity of five hundred and
forty milhons of pounds. The fall of price Was such as, on that quantity,,
would make a difference in its value of near fortyj.nillions of dollars. The
occurrence of this fall, however, was.at such a peiiod ofthe year as not
much to affect.over half the last crop ; but the violence of the shock,
though thus lessened, still occasioned a loss to. an appalling amount. The
fall was chiefly consequent from the over-production and the abrupt"
withdrawal of fpreign credit, combined with sonie other circumstances
which, need not now be particularized. The over-production originated
parity, like most other excesses here j from an extraordinary extensibri of
credits- and of bank issues, and partly frpm keeping ,open the sales of.
public lands to all persons, and at the fbrmer low prices, after other
articles, including cotton and lands, had suddenly risen much in their
nominal value. Urider this tempting state of; things those sales w.ere
exorbitantly enlarged, till they amounted tb over twenty millions of acres
in a year, when not moie than three or fbur milhons were probably necessary; and not so much had before been requisite, atnnually, to meet the
natural demands for iiew public lands for raising cotton and for all pther
kinds of agricultural employment.-. But this excess iri^ sales, so unexpected
and ruinous, can, it .is believed, be averted hereafter, whenever they are
hkely'to go beybnd a desirable amount, by passing, laws which shall confine tliem to actual settlers or increase the price to others. The same
measures, with other remedies hereafter suggested for some other exist-,
ing evils, will help to correct future excesses in the production of the
great domestic staple ofthe Unipn,
; :Another of the causes of the present embarrassments. Was the unprecedented quantity of foreign goods impprted. 'By stimulants to oyertrading,
such as very extended and often-renewed credits abroad, as well as at
home, so treacherous in appearances of prosperity, those importatioris
were dangerously swollen to tlie ariiount of almost two hundred millibris
ofdollars a year, and thus constituted, ari excess over our expbrts ofabout
sixty millions, arid-involved tiie country in a foreign debt, merely corn-,
mercial, whose balance against us, after all proper deductions for freights,
prpfits, arid similar considerations,, probably.exceeded the aggiegate of
tViiTty iTiiUioris ofdollars.,
'
'. '



1837.]

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

29

That excess, so little anticipated and so indiscreet, the system of credit '^•
formerly in use, and better regulated, would have seasonably prevented,
by requiring anea:rly adjustment of balances, and, thus turning the foreign
exchanges against us, would.have stopped mariy extravagances both in /
trade and bank issues. .
. "V
But, stimulated and unrestrained as before described, it increased the N.
• duties some millipns beyond what a prudent though prosperous state of
N
trade was likely to. produce, and, combined with sonie other causes, has
overwhelmed the mercantile interest with many of those disasters urider
which it has suffered, so severely the past season. From many of these
no just legislatipn can now affbrd much relief. Nor could any legislation
heretofore have prevented severe revulsions from this source, except h j
imposing checks on. inordinate credit arid banking, as v^eU as on sudden
and large expansions and contractions in bank issues, and by that further
reduction ofthe tariff* which has been so strenuously urged for two years
past to be adopted whenever, our fiscal condition evinced that the whole
ofthe accruing-duties were not needed for public purposes.: Because \
•the great surplus forced into -the Treasury by the excesses in the sales of \
land and in duties on imports, not being seasonably withdrawn, either by f
equivalent appropriatioris or further:reductions in the current receipts j
through new laws or by investments, has undoubtedly contributed, through J
the loan of it while in deposite, to siistain in some degree, if not produce,]
the-spirit of overtrading. That surplus was ofteri deprecated; and t h e |
only sound legal preventives still appearto this Department to be the
measures before enumerated for preventing, its accumulatipn. And after ^f
it had undesignedly happened, the wisest disposal of it was suf)posed to |!
be to expend it as fast as.useful ori proper objects of a public character; j |
and in the mean time iiot todeave it in the deposite banks, but to invest h
, it in State stocks, as a provident fund, to remain both safely and profitably l\
till wanted, to aid iririieeting current expenditures or extraordinary con-i^^
tingencies. ; •
. ^
.'The uiidersigned regrets-rthat he was not so fortunate in sustaining his
opinions cbncerning'the transient and fluctuating character ofthe excesses
in our revenue, as to have received the concurrence of Congiess in relation to those cautionary prbvisions formerly recommended by him for
meeting the revulsions, deficiencies, and contingencies which he,supposed incident to them as well as-to our financial systein generally. He
is at the same, time aware that the deposite act, so far as it placed a part
of the public moneys with the States fbr safe keeping, and the Treasuiy.
circular issued by the direction ofthe Executive as, to the kind of money '
receivable for publiciands, were intended, amorig other things, to obviate
a portioii bf the evils connected .with those excesses. Nor does he entertain any doubt that they both contributed j at first,' to awaken caution
among the more cbnsiderate,. and to excite strong suspicions, if mot convictions, in prudent, minds as to the great extravagances of credit into
which the community had rashly plunged;' But after .those measures
had accomplished these and similar benefits with,a portion of the community, though others StiU felt justified-in anticipating a continuance of\
surpluses and distributions,;'the subsequent influence of either the a c t o r
the dircularr in checking'the threatened ^mischiefs, is believed in most



30

^

R E P O R T S OF T H E

. [1837.

cases to have been overrated. . The operations, of the deposite act in
supplying deficiencies of revenue b y a recaU-from the States, "however
well intendedi will probably prove . Very deficient.. - In.. some'other
respects they have, by first requiring to be speedily colleeted.arid subdivided among more numerous banks frpm ten to fi'fteen milhons ofdollars, and then.compplling, within the short peiiod of riirie months from
the 1st of Januaiy last,- ano,ther collection and transfer- of. nearly forty
millions more, and much of it from the merchants, and: to places not
situated in the usual channels of. trade or of laig;e fiscal operations,
uriquestibnably aggravated mariy of the distresses which, had their-^principal origin in other causes. Those-operations necessarily aided to .produce thp derangement that' occurred;in the. domestic exchanges,' aiid
imposed a task upon the banks unprecedented, for . its amount arid
\ difficulty. B y coriyerting. suddenly into demands for ^specie veiy large
\
sums, most of which were before mere credits, they- also 'hasteried, > if
\ not increased, the loss of confidence in -banks that: has since so wiGlely
\^ impaired their character and usefulness.
/ -Another, and the last general cause, of the-'.present, emb.arrassrrients,'
/ which WUl be. noticed as havirig much -conriection with our financial
( affairs, has been an unnecessary arid injudicious increase of bank capital,
discounts, and issues. ^ -A similar iricrease,^ however this may have been
influenced by the large temporary deposites of pubhc money made with
banks and States, and. by the causes befbre aUuded tOj has happened- in
some foreigri cbuntiies as v^ell. as here, duririg the s;ame. peribd,. fidiri'.
Other great commercial and monetary inipulses that are permanently cpnri.ected with all. paper- systems .riot founded:entirely on: specie.. ' These
impulses have operated-in-some measure iiidepeiidently of several transient arid local :ca.uses, whose effects have by many, been much- exaggerated. It i^ probable that they neyer cari be properly coritrplled under,
such a .system of expansive.ciedit while the •indiyidual diiectbrs. of much
pf that credit have so little, separate ,Iegislative restrairit placed bypr their '
' conduct, and have private- iriterests at: stake which, in the" pursuit of
immediate and lai^e profits j must usually posses^, a strength-'sb:superipr;
to-thatofany sense of general duty, tp cbnsult;the public .security..
The amount of circulation which existed; in.the early part pf the last
year had increased thirty •millions or forty milhons of dollars in only
three years,. -' It continued to. expand Jor some, months: .afterw;ai:ds, arid
in the l a s t annual report was considered likely tb prove ruinous to steady'
piices; tp surround with danger bveiy -species of: sound trade; and not
to be susceptible of that reductibn • to proper ; dimensions which was •
necessary, and soon irievital^le^ without prpbably ^P^o^^
soriie.of the
wide-spread sufferirigs which have .since happeried. -' The. constitutiorialv
ppwer pf;the General Gbvernment to check .such evils, except as" before
indicated, and incidentally, through the kirid of money it can and should
permit t o b e emplpyed in its ievenues and •'expenditures, is appreherided.
to be limited. Through the latter it may usefully djiscourage, as of late
years has been attempted by Cbngress as well as. the Executive, the'
dangerous issues of small bills, and, indeed, paper emissions- of any
kind which are: not " p a i d on demand in gold or silver cbin at the place
' where issued, and shall not be equivalent to specie at the place'where



1837.]

SECRETARY OF T H E TREASURY.

31

' offered, and convertible into gold or silver upon the spot, at the will of
' the holder, and without delay or loss to him." For the like purpose, it .
may likewise continue inflexibly to countenance for srrialler .payments, <
.
and in the business of society not particularly commercial, .a metalhc
currency, which is not liable like barik paper to sudden fluctuations
and great losses. A further wise step would doubtless be, tb refrain to
make, by its own acts, any addition to the amount of bank capital,
already too great, and itO' rely on bank paper, as little as practicable,
when authorized in; the improvident manner which has often''prevailed,
and exhibited so much feebleness and insecurity, as well as; produced. ,
so many inconveniences and losses.
'
/
It appears to the undersigned, that all beyond this which can be beneficially accomplished, in coiinectionwith the last cause of the present
embarrassments, and without .an alteration in the Constitution conferring
on the General Government direct authority over every kind of banking,.
must be effected, through; the State Legislatures and the commercial
habits of the community. Much; irnprovement can doubtless be introduced, if the Legislatures will impose those additibnal regulations,
restraints, arid secuiities, which have been before enumerated. Much
more will also follow, andi^substantial relief be afforded to thb people at
large, if, in addition to the other measures, recommended, individuals
wUl exercise the wisdoni to place a greater reliance on real capital,
active industiy, frugality, and well-grounded: credit, than'pn that inflated
system which of late has contemporaneously prevailed to-such a ruinous
• extent both in this and some other countiies—a system which has been
encouraged by some p'erspns under-the delusive idea that there was no
overtrading of any kind, tiU a revulsion, has occurred almost without a
parallel, and has given to commerce arid credit a blow;whose destructive, effects it may require years fully to repair.
. .
All-which is-respectfully submitted. -'
•
•
L E V I WOODBURY^
\' [ .
"Secretary ofi the Treasury.
Hon.

JAMES K. POLK,

.

,

.

Speaker ofi the House ofi Representatives,




32

,

R E P O R T S OF T H E
L I S T OF DOCUMENTS

[1837.
^

.. Annexed to the Report ofi the Seci'etary ofi the Treasury. •
A. Letter to the Collector at New York from the Secretaiy of the Treas^
ury, concerning the postponement of bonds for duties.
B. Instructions from the Solicitor ofthe Treasury, on the same subject.'
C. Memorial from merchants of New York to the President. " ' . D. Memorial from Chamber of Cominerce of Boston to the Secretaiy
of the Treasuiy.
:
'.
. . ^.
:
E. Memorial from the Chamber of Comnierce of New Orleans.
F 1. Reply from Secretaiy of the Treasury tothe Chamber of Cpmriierce
of Boston.
.
, • .,
F 2. Letter to Collector of New York as to receipt of bank notes.
F 3. Le.tter from conimittee of Chamber of Cornmerce of New York,
'. requesting extension of a year ori payments: of duties. .'
G. Letter to the Executives of the States, with the postscript as to the
return, of the transfers in case of nbri-payinent by the banks.
H 1. Circular letter from Treasuiy Dejiartinent as. to the "receipt and
transmission, by mail, of bank notes in 1789. < •
H 2. Extract from, report of April 22, 1790,\upon collection laW..
I. Fif st circular to the deposite banks, discontinuing those which had« ceased to pay specie for their notes.
.
. . • . ;
K. List of those thus discontinued,. , ,
L. List of present deposite banks underthe depositp act. ' ..
M 1. First circular to collectors, directing them not to .place money inv
general deposite iri banks which have stopped specie payment.
M"2. Circular to receivers of public money on the same subject.
N. Second circular to them to deposite specially when - they'have on
hand over a certaiii amount.
.''. .
O. Extract from Treasuiy report in 1790, as. to a new class bf officers
to keep and transfer the public;money.
,. '
^
P . Table of Treasuiy warrants payable in each State in 1834.
•
Q. Comparative condition of deposite banks in certain, particulars in
November, 1836,'and in March, May,'July, and August, 1837.
R. State of the accounts of the fornier and present deposite banks with '
the Treasurer of the United'States. •
S. Circular as to deposites by disbursing officers,-by prder of the President.
•
T. Circular instructions to coUectors and receivers to accept Treasury
drafts in certain cases.
^
U. .Conditiori ofeach bf-the former deposite'banks at the-last returns.
V. Last.circular to banks on the subject of resuming specie payments.




1837.]

P_\

SECRETARY OF THKiTREASm

:...'•

•••..';'-•,.!'

;33.

' T R E A ^ U R - V ; ! ! EPARTMENT j - i ^

S-IR": I have" beeri •directed by-the-Pre'^dbnt-'pf-t^^
corrirriunicate tb- ybu the;views :of .this -Deparitoerif
•
request recently niade to him.by.a •cbiri:mi'ttee;'app^^
riieeting held -iri the- city of • New York; -' '.'T-hte .i^eq'^ii'eif Was,;-^'-^^^^
' tioris rnay' be .giveri tb. pieyerit tHe:";Cpriim,encirig. of'•; Suits :.in.;;ari^^^
.
'•collectipn districts .upon unpaid bp-iidsy'riritifafter-'the^^
:,
'next." •','•• ';•': ;.. 'V'._.;';.;;';, ?fi'\' :fi:"'fp:--r^^^
-: ••{^'-•'y• With every• disposition pn;.'the";partpf;';tli^^^^
ment to gratify any, wishes :bf thp -riiercaiitileipp^
- and, with a: deep sohcitride" to alleyiate;":.a3:;
feir^
the •pres^tire^
which exists in -.their pecuni'aiy afftosiit-l^
instruc-;
tions caLnriot be. givbri for - 'so - proti-acted' -a • delay ,"varid-'in; so geriei;al."a
manribrj without a; departuie. flbni: Ibrig^^establiB^
inconvenierice to bpth'^the/rriefchaiitaraLiid jJ^
.:. ;- •\^:.;/..-'. '
'-•By tlib .':act. of .Congress of,thb.-'2.d-M^
'.^.where ariy bond for. the 'paynierit •pf'.duties'-^.haU.'rip
- ' day it may beGome -due,.the' collector shall,;Mt^
• 'cause a:prosecutibn'tp'-be;c'onimenced' fpr'4he:.;reep^
riibriey.
;^ thereon, b y action.'c^'$uit^aila^
T^-'f •'"•!••';.;• v.- - v,-.; :. •": -.''•'No.'authpiity or discretibnary pqW:eris' intru'sted^^^^
ident or this ..Department tpdisperi
by Cbngress to the cbllectors. of.t%^^
.The'gbrieM
has
been opposed, .to the existeribe or .exercise-- of: any le.gaf .authbrity, except
in Corigresaito. grant'.dbl'ay_ iri' the'; payment .of such, •.bonds',' until after '
an actiori is instituted cr'judgmerit is-c.Prifessed;^ Aftei:'a suit has been
brought, the coUector's duty has.\bperi"-ebiisidered as .fulfilled, and this
"Department, thrpugh its proper '.;a^,eri.ts,;.has'j. jri:such.^c
stage o f t h e proceedings, deemed it laWfiil; to-dilect^ some-^^^
be
granted by the district attorney pn.Gertairi ..terms.
.;' •./
No statute forbids such a course^^'aricl 'if ;:a''.payment in pa:rt is then
made, or additional s'ecuiity furnished'.in'Ms'es where great hardship,
embarrassment, or insolvency is;shown:to exist, and the apphcatibn is
made in consequence of some of thp|e cir'Gumstances, indulgence has
frequently been given. .
.
.
;...
,
But the power of permitting some indulgence before an action is
commenced is supposed by the Attorney.General and the Sohcitor of the
Treasuiy to belong to thelatter officer, undprthp^^^^
May, 1830; and in times and case a hke "the. :present', when, the most
favorable construction which is legal; should be fbllpWed, this Depart- •
'
ment is disposed, in confpl'mity with the'advice arid ppinion of these law."
officers, to sanction a delay by. him under, .like circum^^
arid to a
hke extent, before suit as afterwards.; Upon the occurience, therefoie,
of cases of fhe character previously, deseribed,^ whether before suit or
after, and whether at-your port -or :elseW"here,:'similai^ indulgences on
simUar.terms could, and.undoubtedly would,-;be.aUbWed With pleasure,
• VOL.IV.—3/ i > \fi 'y/i'\pi^--^--'^r-:.fi::.fi:- ;



34

R E P O R T S OP T H E

[1837.

V on seasonable application in each case, and the exteut. of the delay
. being regulated by thefabts ofeach case, and the exi.stirig-and probable
wants of the Treasury a t t h e time it-shaU'be presented.
" •
But should applications of this kirid become nu.merbus, and extend ta
" several .bonds very large in arnount, difficulties, unfortunately, Wo-ald
•
' arise, under the existing laws and pre sent, state- ofthe Treasuiy, not only
to.the .parties,.but to .the public, in postporiiiig payment for .^any con.siderable .period. In the first place, aU partie^: and suieties.upon• bonds '
unpaid;after due are expressly disabled by.the'62d section of the act
before referred to from .having credit .upon any other duty bonds. : T h e
language ia: " No person, whose borid has been receiyed, either as principal
'or. surety, for the payment, of duties, or ^for whom any. bond has been
'given by an agent, factor, or other person, iri pursuance of the provisions
'herein contairied, and-which .bond:iiiay be.due and'':unsatisfied, shall.be
' allowed, a. future credit fpi-duties until such:bond be-fully paid or dis-'
' charged." In the next place, the'condition of the Treasury during the.
. remainder bf the year will probably.be such. Whether .looking to -the estimates submitted by. this Department to Congiess at the cpriiinencemerit
of. its sessioii in Deceinber last, or to the actual state of things atthis
time, as to create.serious incorivenience arid' embarrassment to the public .'
.interests iri-rrieeting-the public erigagemeiits',- shbuld the- payment of alf
-; -the duty bonds outstanding iri, the United States, and ampunting to several •
. millions ofdollars, be .postponed in their cbllection, either before or aftersuit, until the tiine.requested by tho conimittee.:
: ..
.• This wiU be very manifest-from the..follpwing.data: The aggiegate
receipts into the Tie'asury duiing the year 1837 havirig been estimated
in the last annual report at $24,000,000,. and the "appropiiations asked
• -fPi* by the .respective Departments; with the usual anticipated cpntingent,
having amounted to.about $27,000,000, it. Was", then* suggested'that this
would, require the expendituie not; only.of all; the estiniated accruing^
' receipts',..but near three millions-ofthe five re.served on the 1st of Januaiy,..
1837^ for. distributibri' ariiong .the. States.\ Cpngresa, howeyer, in the .
-^. cburse of the session, ap.prb.pii.ated npt orily thbse three milhons .of excess,
but oyer five-millions in'addition; inaking' an aggregate, of rnore .than
.thrity-two millioris;-. and;by this riiearis a charge Was imposed on* the
• Treasury to the extent pfeight'or nine milhons beyond the estim.ated
receipts during-.the..yeair.-* \; '• .
,.:'
'
. . ^•
The expectatiori of a recurrence of an extraordinary excess of reyenue
duiing the present'ye^r,- which; may,hav'e been -contemplated by some,
and have forrried the ground ;bn which" so large appropiiations were made,
was never entertained .by this Department;; nor does any such expecta-,
tion, judging from the. receipts of the first quarter arid the first'mpiitli of
the secorid quarter of-the .present year, seem" "-iikely to be verified. On the
contraiy, assuming the hypothesis, that a similar amount of unexpeiided
appropiiations wiU remain.at,the.close of fhe present .year.aS;.did at the
close of the- last, (though.iri oi^dinaiy. times, they are generaUy reducedeight millions 'loviref, and,-should' .they, become ::sp, would iricrease'the
deficiency to thai%extent,) dhe'pos'tponeriient of the payment of any considerable amount of. borids fib: the" 1st pf. Januaiy next Wpuld iriake a



1837.]

SECRETARYOFTHETREASURY,

35

deficiency in dhe means ofthe Treasury highly probable. To postpone
-the payrnent of the rnany riiillipns falling due at all the ports in the:
jUnited:States, would render.this deficiericy inevitable.
.
• .Comparing .the present condition'of the country with a former peripd
of s.imilar revulsibriin trade,-Wheri, in .181*9, from causes somewhat analogous, the mercantileinterests were exposed to a pressure so very general
•and severe,-the likehhood seerris equally "strong in favor of a rapid reductibn-iri-the revenue.. . ''
, ' ". •,..-•..•
.. ;
:/ The foVegoiiig.remark's'will-eiplain sbiri^
the practical difficulties
tb.'be •engbuntered in m.eeting-the Wishes expressed by the committee for
., the long postporieme'rif-of the .paynient of duty bonds, whether granted
before or after suit, and;.whe ther ".in view .of the consequences to' the
•merchants or to .the'Treasui-y arid the pubhc- But indulgence for thirty,
sixty, and ninety-days, not'.extending beyond the 1st of September, o r
about the time foi arranging the payrnentof thedast instalment of deposite
with the States, could doubtless be granted in special cases, under the
custpniary terriis and circumstances .as- before, explained, should any
• parties desire it. JB^t what forbe.araric'e.* the .situation of the Treasury
rnay justify in thia respect. af ari-y future day, cannot now be foreseen
'with"much accuracy.' -Thepayment, within so short a period as nine
months,'of such a vast aniount tb'the State.s as near thirty-eight millioris,
and Which is inostly.to'be coUected through the deposite banks from the
-mercantile portion'of-the country, iricreases the pressure'from other
causes on both the banks and the~^cpmmunity, and creates a prospect that
the-ievenue accruing for the. iest'pf the year wiUniuch decline, aind will
gerierally' be, as has beeri '.the case in -April, less than the^ currentexpenditures. • " • • , • ; . . '
•" ;
Hence the ampunt in the . Treasury at this time being only about six
millions, more than is required'to be paid to the. States,, the progress of
events may compel a recourse\to .stich.other measures as the existing
laws ^authorize for meetirig one.vof .those great 'qiises or fluctuations in
fradeby Which, as well as by other contingencies, our present sburces of
'revenue, from -their intimate deperidence upon-them, are so suddenly and
.so largely influenced, and for which, it has been the arixious wish of this
Department for two years past-that Congress would effectually provide.
How far the powers of the Departmerit, underthe deposite and other
acts, are now adequa,te to this ' erid,* need, not be cbnsidered uritil a
'neces;sity to resort, to them shall .become imperatiye. But, at all events,
it is:manifest that the.present, aS Wejl aa probably the future condition
of the Treasuiy, must be ^sp. doubtful,, if nPt straitened, as to preverit it
from affording so much incidental pr .direct aid tb-the mercantile interest,
either individually or: thrbugh the deppsite banks, as it would be highly
gratifying to this. Department to -be able to extend. ^ More especially
wpuldit.be gratified to do this v^hile- their interests are, suffering under
the present severe pressureT—:a pressure' regretted b}^ fne as deeply aa
by any one, arid- the' near and^probable approach, as weU as principal
causes of which, according-to rjiy Views of the subject, I felt compelled.,'
fro.m..a sense of public duty,"'hqWever'dis.agieeable the task, to poirit out
in detail in .the-last arinual report; sofully as to'"render; a repetition of .
•therii on this occasion unrieccessary.'as*.w;ell as painful; •• ' .• ^
;



36

c

R E P O R T S OF T H E

[1837.

: This Department cannot close the present commmiication without
requesting you to assure the individuals connected with the gieat
commerce of your port ofthe deep .sympathy felt here on accourit of its•embarrassments; of the willingness cherished at this time, as on former
occasions, to extend to it every species of relief and indulgence in the
power of the Treasuiy, cbnsistent with the laws and the.public duties
intrusted toits charge; and ofthe entire convictioii entertained, that the
. high nipral character and honorable feehngs of the merchants wUl riot
only cany them thrbugh the trials of adverse fortune with their usual
scrupuloua respect for the laws and'the CQiistituted. authorities.bf their
countiy, but, "by the aid of their .accustomed energy, enterprise, 'and
iridefatigable industry, will ere lorig relieve them from the most ofthe
sufferings occasioned by those disasters which • have occurred so uiiex^
p.ectedly,to some and so injmiously.to many.:
; -•
' .' •
Respectfully, yours, &c.,'
\
. <.
L E V I WOODBURY, . '
...
°
- .
•
'. » Secretary ofi the Treasury.
SAMUEL SWARTWOUT, Esq.j Collector of New York. •
;•
' P . S. You are requested to give immediate publicity to the above..
Gommunication.
. *
\ - . - ' .:••

,

•

;

•

-

-

•

•

•

.

_ B..

• •

[CIRCULAR.]

;

.

/

,

fi

.-••.;

.

/ , •

:

• •From.the Solicitor ofi the Treasury to the United States'AttorneySo'_
OFFICE OF THE SOLICITOR OF THE TREASURY, Mayl^^^lQZl.
S I R : YOU will perceive by the letter "of the Secretary of the Treasufy
to the Collector ofthe port of New York,, ander date of the 8th instant,
that the Treasury Department, desiring, in cbricurrence with the views
of the President, to give all the relief to the mercantile .community,
tinder its present state of general embarrassment, whichis authorized by
law iand permitted by official obligation, has: determined, in^ certain
cases, to suspend ,for a short time the collectiori of duty, bonds.
The 5th section of the act of May 29, 1830, e n t i t l e d " An act to provide for the appointment ofa SoUcitor of the Treasuiy," gives power to
that officer " t o instruct district attorneys in aU inatters and proceedings
appertaining to suits in which the United States is a party or interested."
'This power has often, on apphcation to this, pffice, in cases of great
hardship, embarrassment, or insolvency, bePri exercised, to give time
for payment, afiter the institution ofi suit, on conditiori of further security
being furnished to the satisfaction of the distiict attorneyi A;temporary
indulgence on .thi.s, or other conditions, has'frequently.made ultimate
payment se'cure, when a rigorous' enforcement of the"' law wotild haye.
reaulted in the ruin-bf the debtor and ibsa of the debt. But indulgerice:
has never heretofore (except on becasion bf^the great fire in.,:NeW York^



1837.]:

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

37

when Congress, was in- session and had the subject of relief under'
consideration) been extended hefiore suit commenced; but,-under the opinipn.
of this office, with the sanction ofthe Attorney General, the Collector of
New York has been informed by the Secretaiy of the Treasury that the
power exists to gr;aiit delay lefiore suit, and ,wiU now be extended in.
appropriate cases.
. ,' .
,:
, The present general embarrassment ofthe money concerris of'the,commercial cities has.also beeri deemed by the President and Secjetary
ofthe Treasury.a suitable occasion for an extraordinary exercise of the"
power of instructipn to district attorneys vested in this pffice b y the.laet'
..of Congress above mentioned, by giving it beforehand, and leaving/to..
them its special apphcation • on the general terms .'apd "principles laid
down by this office. I have, therefore, as the. applications, for Telief will ;'
probably be-numerous j thought prbper to point but for your gOTerriirient.'
the terms and conditions on which, in the exercise of a sound, discretion,/
after-obtaining iil-each case all the information in your power, you may
.postpone the institution of suit. - ' '
.
c
'. •''•'•'
1st. You wiU require/that'the ^assent of sureties, in .writing, to. the
indulgence desired, be filed m your offlce.
•
. - fi-.^
•' 2dly. The 65th section pfthe general collectipn law of March % 1799,''
entided ''An ."act to regulate the collection of: duties on impprts - and
•torinage,"'.provides that " o n all. bpnds, upon y^hich suits shall- be-com- '
/menced, ari interest shall-be allowed, at the. rate of six per cent, per .
.^ annum, from the time when said bonda become due untif.the payment
•'thereof"" You will require,,, therefore, the, agreement of all the parties
to bonds on which suits shall, be pp^tponed to, pay the-same iriterest aa
-if-auit were inatituted.
•
'.•-.'''
Sdly. You will in no case, .Without further orders^ grant-a, suspension pf
suit beyond the first day of .October next; before which period. .Congress
will have ari oppbrtunity,of making such provisions as they may. think .
'•proper _•
; .. • ' - . - • ' . .
:• •. .;-..• -^
'.:•'.,:.' ' ":
• 4thly..Ybu will, iri aU Cases, request additiorial security. If this
:caiiiiot be giveri, you will:require a judgment by confession as a condi- '
tiori of such stay of ex-ecution, as-you may deem "expedient and. pToper,
iiot to extend beyond the time above allowed fpr the suspension of suit. .
5thly. It must.be a. condition, in all cases, that a' forfeiUire of all the
benefits of the iiidulgence granted shall be incurred whenever any ori'^e
of the terma of .that indulgerice shaU not have beeri cpinphed with.
.. .
It is not intended by the third- regulation tha-t the postponement of suit
should, in. all cases, be made until the 1st of October next.. On the contrary, you wiU take caie that, in the exercise of the.discretion; respecting
postponement of payment and suit coriferred on you by;this letter, that
ho indulgence be granted where the parties, iri your judgment, are able
to pay Without serious saciifices. It is, moreover, desirable, y^here the"
parties have it in-their power to make it, to obtain, payment in part, and.,
to stipulate for the residue in instalments of thirty^ sixty, or ninety days';,
or, if no part caii.be obtairied in cash j then the whole amountto be paid
in instalments of thiity, sixty, and ninety days. More especially shptild
this be requited where no additional security is given*
•
".
/
It is desirable for the convenience of parties applying for indulgerice,



38

R E P O R T S OF T H E

.:

[1837.

. that they should, in proper cases, obtain, it -without the delay, trbuble, arid
expense of .applying to this office.. It is, moreover, obvibua that 'the
Solicitor of the Treasury, acting through the district attorneys,; Who reside
in the'same place with the apphcants,'aind hatve a personal acquaintarice .
with them, and a knowledge of their character and circumstances/.may
exercise the power for their rehef incident to his office, more judiciously
than iri person at Washington. The requisite aU thority j and'the gerieral
regulations for its exercise; are.j .therefore,-'giv'en ypu ;by thia. letter of
instructions. But, although itis.highly desirable 'and expedient that cases
of relief should be acted, pn and decided at once in the ..places where
they originate^ yet important cases not coming. Withiri those regulations-,
or the circumstances-of which,, frona-their peculiarity,, shall, in your
judgment, require it, may be fefe'ried to this office, with, a detailed leport
of all the facts and iriformation affectirig them possessed by you, or which
you can collect.
,
•• v •..
• . ;
' .
' ".'
. You will, as- heretofore, make youi; regular report of bonds transmitted
to you by the collectbr of the customs for suit,,as presqiibed in the firsj:
regulation for the observance of distriet attprneys, in-my circular o f t h e
27th July, 1830; and under the head of"Remarks,"if,a susperision of
suit be granted, you y^ill state^the cireumstarices arid conditions of the
suspension, and the nature and aniount ofthe security given, the evidences
. of which you will retain in your pos'session. .. *
• , ••
- ,.'
In case of application for indulgence being.made before the bonds
become due, you may niake use of the same forms of return'as in case
of suit, leaving such heads htanh as are not applicable, and iriaking the
repbrt immediately after the suspensib.h pf suit-is granted. Should any
of the conditions on which indulgence haa been granted' not ,be fulfilled-, '
you will immediately, without further' instructions, institute such, legal
proceedings as ,the case may call for, arid make report thereof to this
office.
; ^^
" • ' ..
I am, very respectfully, sir, your most obedient servant,
.
.• y . MAXCY;'Solicitor oJ the Treasuryj
'
To
— , Esq.,
•
^
; •;
United States Attorney fior the district ofi
: _ • • ..
•
;

To MARTIN VAN BUREN,

• President ofi the United S.tdtes :• ^ . .
. .
. . "
.
SIR : We .have the hbnor of informing you tha:t a. very numerous 'm.eeting ofthe merchants of New York was held on the25th of April, for .the
purpbse of considering the p]^esent distressed" condition'of the pity, and
deliberating upon the mearis of relief ' . I t was called bymore-than three
hundred firms, and waa.attended by a large proportion of those merchanta
who are, connected with the internaf trade, of the couritry, and who have
an especial and direct interest iii the state of domestic exchanges. ' ;
A committee was appointed to repair;tP Washirigton and remonstrate



.1837.]

SECRETARY OF T H E TREASURY.

39

• with..the Executive against the-continuance of the apecib circular, and
to. urge it.s immediate repeal; also, to ask. that instructiona maybe given,
to- prevent the commencing of suits, in any of the cpUectiori districts, upbri
.unjDaidbonds, until after the first :day of Januaiy next,, and to urge.upori
the Executive the'.pr.opriety of cathrig an extra session.of Cbngress" at as.
'early a day'as possible. '"
. .• •;
' - • . • • ' • :
« .
'
.' In'pbedience,- sir, to these:instructions, we present ourselvea.befpre you,
and ask-your deep and-solemn a'ttentiori.to the unhappy coriditionof that
•city. w^hich has hitherto: bepri .the' proirioter and the index of our national
prosperity, and whose fall Will .include the ruiri: of thousands'in eyeiy
region of bur •territoiy." We do not • tell affctitipus.'tale of-wp, we have
no selfish of partisari views, to sustain, when-we assuie ypu .that the rioble..'
;city which we represent lies ''prostrate iii ;despair,.ita credit blighted, its
in'dustiy paralyzed, and Withbut a hope' beaming thrpugh the darkness
'of the future .unless the'Gpvernment pf. brir countiy can beinduced to
fehnquish the^measuies'tp;. which'we'-attribufe our distress. .'We fully
.•app'reciate.the;respect WMch-jS.s due to our Chief Magistrate, and .disclairn
eybry intention inppnfistent .with-that feeling.; but we speak in. behalf .of
a .eomrnunity -which treinbles upbri the. brink 'of ruin, Avhieh deems itself.
; an. adequate-judge of all questioris Gbnnecte.d. v^ith the trade and currency
•
•of the'couritryj arid;"belie.vea*.thaLt the policy adopted by the recent'.Administratiori, .arid, sustairied by the :present,-.is' fpurided in error,'and .thieateris
"the. destructipri.of eyeiy depaitmerit-'bf'industry;.. .':; - •:' .; '. ; •'.
• -..-Our rnerchants, inaiirifad turers, arid iriecKanics'have repeatedly predicted the * fatal; issue of .that .-".policy i.;' ";What waa. prophecy has -now
• beconie history;'' ."and'the -reality'far e.xceed.s..bur inpst gloomy anticipa^
.lions.*.* Under.a deep irnpiessipri;of the .pro.piiety.of cori.fining..o.ur de.cla-^'
'.rations withiri mode.rate -lirnits, we.'affirni that; the'value pf .pur real .estate
"has, -Within-the last six months, depreciated morethan forty.inillions;- that,-;
. within the last two-montiis,'there, have'been, tnore-thari-two ^h^
^ ^^
'
fifty •failures'.of houses engaged- in.extensive..briairiess\;Uhat,'within t h e
sarne peripd, a de.cline of twenty millions ef doiiat's'ha
loc dl.. stocks, including'.'those-raUroad''a:nd ;c.arial .incprporatioris which*,
'though; chartered in other States, deperid upbri. New. 'York Tor .the s.ale.;
.. that the iminerise amount .-of: iriercharidise' in bur. warehp,uses has,'withiri.
'.the same- period, fallen, in-value at .least thirty, per bent.;, .that, .•within a
few-Weeks, riotless thari twenty thousand individuals,'depending- upon .
their daily laboi; for their daily bre^d, have' been discharge'd by their
employers because the means of retaining them Were exhausted; andthat a.cpmplete .bhght has fallen upon a community heretofore.sb-active,"
entetprising, arid prbsper'ous. Thb error of.pur rulers has produced a
wider desolation than the pestilence which depopulated • bur streets, orthe conflagration which laid -them in ashes. . • , • . •
We believe that it is unjust to attiibute, these evUs to any excessive
development of mercantile enterprise, and that they really flow from that
unwise system which aimed at the substitution of a metalhc for a paper
currency—the system which gave the first shock to the fabric of our
eommercial prosperity by removing the public deposites from the United
States Bank, which weakened every part of the edifice by the destruction
of that useful arid efficieiit institution, and now threatens to crumble it



40

R E P O R T S OF T H E

[1837.

into a mass of ruins, under the operations of the specie circular, which
withdrew the gold and silver of the countiy from the channels in which
it could be profitably employed. We assert that the experiment has had
a fair, a liberal trial, and that disappointment and mischief are visible in
all its results; that the. promise of a regulated cunency and equalized
exchanges has been broken, the currency totally disordered, and intehial
.exchanges almost entirely discontinued. - -We therefore make our earnest
appeal to the Executive, and ask whether it is not time to interpose the
- paternal authority of the Government, and abandon.the policy which is
beggaring the people.
.
•
: •.
Amid all the distress of our condition, we >have been gratified, by a
view of the generous and forbearing spirit which ^has almost invariably
marked the conduct of the creditor towards the debtor. A general dis•positiori' has been manifested to indulge the debtor with ample time for
tile arrangemerit of his business and coUection .pf his debts; arid We
would respectfully suggest the example for the imitation of the government. The embarrassment and-distress of the, merchants would be
more readily relieved by the suspending: of suits upon unpaid .bonds
until a future day, when the .wisdom of Congress may grant sbirie
measure of rehef
,....,'
.. ^ .
'
.
' •
'
Feeling, as we do, that we have reached'a crisis which requires the
exercise of aU the wisdom and energy of the countiy to heal the wounds
which have been inflicted upori its Commerce arid productive industry,
we would lespectfully a:nd'earnestly, urge upoii the;Executive the'propriety of calling an extra session of Congress to dehberate upon the
unprecedented and alarming ernbarrassments in which We axe involved.
The members, coming directly-^ fi-om their constituents, will, have had
the opportunity of knowing and appreciating the extent of the distress
." which exists; and we are convinced that their collected opinions will
fully sustain those which we have "expressed, and their testimony-indi-.
cate an amount of. suffering of which we -cannot believe that you, sir,
have heretofore been, aware.
W e persueide ourselves that the..representations which we have given
of the actual condition of our affairs will iriduce you to doubt the expe^
diency of the policy which has been recently pursued; arid ^we trust to.
your inteUigence for such a'change of measures as will revive the hopes
and stimulate the energies of the merchants of New York.
ISAAC S. HONE,
THOMAS TILESTON,
JAMES W. BRYAN,
MEIGS D. BENJAMIN,^
BENJAMIN LODER,
ELISHA LEWIS,
ALEX. B. McALPIN,
SIMEON DRAPER, Jr.
JOHN A. UNDERWOOD,
.
.. ;
WASHINGTON, May

3,

1837.

The subscribers,-urider the direction of a meeting of the' Bbstori
Chamber of Commerce, respectfully, represent to the Hon. Secretaiy of



1837.]

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

41

the Treasury, that much difficulty will arise here from the requisition
which they understand haa been made.that all dues to the Treasury
shall be paid in specie.
The suspension of specie paymeiit is now universal in this- city, and
it is impossible to procure the amount riecessary for the payment of cus^
tom-house bonds. If the requisition be made, there is no course leftto
the merchants but to submit tb a suit and its unpleasant consequences.
I t is evident that specie for the .large amourits daily falhrig due on.
custorn-house bonds throughout the country cannot be procured pri any
terms. The lefusal of specie for bonds is. not, therefore, in the least, a .
matter of choice: the payment is-utterly impossible.
If, then, no alteration ,be made in present instructions, the suits now
• just commencing will eventually extend to. the, commercial community
throughout the countiy, incapacitating them from further entries Or
; importations, and; seriously embarrassing .the financial operations of the
•Goveriiment.. : If this be so, it is merely a matter of time with regard"
. to the required alterations,. Sooner or later they will become indispen- sable:. if. made ;rio\y, much distress will be prevented.
. .
Even were, it otherwise,^there are,-it appears to the Chamber,• suffi-.
cient reasons why specie payments should not now be required by the
Goverriment. Tt is. matter of notoriety' that specie - payment pfthe• indemnity lately received by the Government has been refused, to the
claimants by the agents of Government; and» further, that specie payment of debenture certificates is now'refused at the custom-house, at
• the very moment when specie paynient is demaiided for. bonds. The
extreine hardship arid injustice of the demand and the refusal, at the
same monient, cannot require comment.
.
Under these eircumstances, they .cheerfuUy request such a modification of the requisitions of the Government aa may cori sist with .justice
and the abihty of the community. To this purpose, a withdrawal of
. the specie instructiona rpceritly isaued to the collector bf thia port, leaving
him arid the merchants to.devise, in, gobd faith, the means of adjusting
the -claima of the Goverriment with the mercantile .community. Would,
• perhaps, be* entirely sufficient. A course like this has been adopted on
a former occasion, and seems to be the only one rioW practicable.
. ..
•
• .WM. STURGIS,- . ,
Fresident Boston Chamber ofi Commerce* ;.
"THOS. W. W A L E S , )
ROB'T G . SHAW,- • y

Vice- Presidents.

G. M. THATCHisR, Secretary.

.'

;

•

E .

.•••

,

-

;

;

/

.

-

.

•

•

,

.

:

•

•

• N E W ORLEAisrs C H A M B E R bF C O M M E R C E , >
. -NEW ORLEANS, Ifcj/25, 18-37., )

S I R : I have the- honour to transmit to you, enclosed, a cbpy of the
proceedings of the Chamber of Commerce of New Orleans in; relation
to the -deranged' cbndition of the. currency, and the impractiGabihty



42

•

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

[1837.

resulting therefrom to cbriform strictly y^ith.the requisitions .of' the law
and.orders emanating from ypur Department.
... •;.". '/' . p •
.. I -^beg leave most respectfully to callypur attention tp :saLd -prbceedings, with, the hope, that. some measures may be devised to obyiate
existing difficulties.. ..'.' i. ' • ' . . . ' = *
;•'•..
,
V.
; r
'.
.: I havethe honor to be, sir, with great.consideration.arid'resp'ect,: your
obedient servant,:
'•
.•. • ' * .'- -' .
".
' .'
•'• •. .- .•:\.; •: •".../ ; • . . . ' . V. \ S A M ; ^J.^ P E T E R S , ,iVc5i%^^.-. .
To the Hon.-the .Si;OREXARY pF THE TR.EASU.RY

'..'••.-.

'.

••
\ • .'

' ofi, the'United States, Washington City, ; . ••

'" •

• ,. N E W OjiLEANs CHAM.:3ER;OF Co
• - •
• ; -.
•'. ^i- . 'V^. \; SA;TURDAY^.4^2/20,,1'837;.^'''

At. a special meeting, of the "Chamber held this day,-tliefoUowing, p.reanible ;and resolutions weie "ajdopted y^ith. pnly"one disse'riting;voiceV. .' '
'Whereas, the collectoi\bf .the custom-hpuse bf-tMs 'distiict';"iri vi^^^
• of instructions . from 'Washingtbri, requires •specie, of .ripfes; pf;-specie- .'
•
•paying, banks .which:aie at. parkin'pay'irie'nf p-f,;all;duty bonds.:-andwhereas it is-well-known* that nearly* all the. bariks of thiscity^ including'-'
.the deposite banks, have. lately .suspe.nded- specie;payirients;.- .arid that,
the notes of the .few baiiks which-havecpritiriued to redeeni'tUeir c-ii;eulatfon in specie are. npt reissued, .arid-therefore caripot be obtained, '''
whilsf the same-banks refuse to pay their'deposites in specie: *' ""' . .' r.. .
In conseq.uence of \vhich:itis-'. iriipos^ible that the re'quisition. of the
collector cari be Gomplieci-with. Therefpre, be. it resblved—-: :;.' '
-,' Ist. That, iri•the-.Ppinion of this..Chaniber, the e.xisting reyen^ol9.WS', .
, which; it is^-riow; attempted strictly to enforce, were passed, by'Congress
.u.nder ciieurristances very essentially differing from those which at pres- ^
erit prevail; and that a revision of the ' same .by Corigfess has* .become,
indispensable. . • . ; . - . ' . . ;
^ " ..-- ;
• . ' - . . . • .^ v'.;- . . 2d.- That, in' thO; ppiriiori of this^Chamber, .itis highly expedieht*that';
Cbngress should.be called, at as-'eaily a p:eriod aa may be practicable, '
with a view to take-into consideration the currency of the cpuntry, and ..
the*r.eyision •pfthe ievenue laws, sp' as tp reconcile them with the present
state.of things, and to render thein susceptible o.f being executed. •.' ^ /
• 3d. Thatthe paynipnt. of duty bonds in gold and silveiy under existirig
circumstarices," is^^ -utterly iriipracticable;; ' and • if the . collector cannot
receive in .payment thereof the notes p f o u r Ipcal;banks, .said bonds
must necessarily remain unpaid until the action of Congress with regard
to the same be ascertained. • ' . ' .
- .
.
4th: T h a t any atteriipt Pn-the part of (3^0vernment to enforce the col-,
lectioii of custom-house bonds in gold and silver will be: atterided with
.serioris suffering arid distress; inasmuch as the sale of pi-operty by the..
marshalof the United States cannot be effected, for specie, without the
most cruel and unnecessaiy'-sacrifices. . •
.. 5th. That.if the. Government persis.ts in the collection of duty bonds
'in gold and silver when the same is nbt tb be procured; and in the
.event pf its finding* attbrneys and jurors willing to .assist.in rigorous



1837,]

SECRE TARY. OF T H E . T R E A S U R Y .

.43

•prosecutions, it is the opinion .of this Charnbei:-that these irieasures may,
gradually-lead the countiy into scenes of disorder, violence, and. resistr
arice to the laws, which are-seriously to.be deprecated, and which the
•Goveriiment pught to avoid. . ' ' * "
* • ;\,
- ' - . -'
; -..Gth; That the President pf. thia Chamber be re.queated to transmit a
copy• pf these resolutions tp the.PreMdent of the United States and'the
•^Secretary ..of the-Treasury^- . - :•••
•
-. -';
.. . -'
'
- * r - -1 A true copy frorin the miriutes: as witness my hand, and seal
• LSEAL.j
of-die Chamber, this 24th. day of May, 1837. :> /.
•
. . . ' • f i : . - : • ' / • . - • • • • : ' • ' . . G E 0 . W . W H I T E , Secretary.

Fl.
•".-fi: ' ;
. TREASURY DEPARTMENT,-Ma^/21,; 1837.,; .
• GENTLEMEN*: Your:epmmuiiicatipn in behalf of the Chamber of Cbm-"
.rnerce in.Bostbn; coricerriing the:payment bf duties, was receiyed at this
, Departrrierit to-day. t h o u g h without date it is;presurried to have been'
written, befpre the receipt in ybur city of the proclamation, of;the-Presiderit^caUing a special and early session of Congress,'"atid. of the. circulars,'
letters, and notices of this'-Department, recently pubhshed, concerriing
cristom-house'bonds. .;Gppies:of these 'are 'theiefpre" annexed, (numbered
1. to:7,) and to which; I beg leave to- refer for seyeral explanations ori .
soriie of the topics contained-in your riiemoiial. ' . .
•
-.
. In addition to those" explanation.s but a few. other-remarks are supposed
•
to be riecessary to .put the Chamber of Commerce in full pos'sessioii of
the views, of the undersigned in respect'to your request, and it is hoped
to satisfy you.-that everything has. been done, and will continue to be
done helej for relief to the merGhants "in the: present distressing, emergency, which the laws sanction and^ my limited authority permits.
.One pf the eaiiiest acts'passed by.the first'Congress-conyeried under
the present Constitution of-the United States was-, that of July 31,1789,
expressly.requiring aU duties.to!be -"received in gold and silver^ollly.,"
and'•y.^'hich. provisiori has been yir:tually continued in .subsequent.laws.
The circrilar-of'this Department from whpse operation .you ask to be
exempted is orily a repetition .or.ari affirmance of that act, except it
contains a.mitigatipri, justified-by along arid liberal construction,. which" •
authorizea ari equiyalent for specie.to be.also'received. . •;.•.•' .
Under that.construction, .anxious as the Departmerit has beeri-'and"still
is to extend;eveiy indulgence to, those 'corinebted with it >yhic.h' is not
iriconsistent'with. law.and public d-uty, it; sanctibried the receipt,of the.'
riotes of specie-paying 'banks-instead of specie for customs, and. all the
drafts, or .checks ofthe Treasuiy not paid to the satisfaction of the holders
by the-banka on which they are drawn. Debenture bonds are hkewise
receivable in payment of duties ; and wh'erieve]t' doubt has arisien- bii that
•pbint, express iristructipns liave been-given to take them.
/.' .;'
;'•
Beyond these-alleyiatipns, the Department .Ua^-yet.been unable to.
discover any legal autlipr'itywiiich it possesses, pr is able tp delegate .to
others^. • to receive substitutes for •-the': specie \vhich is iiiiperatively



44

. R E P O R T S OF THE

[1837.

required by law<r'in paymeiits of duties. On the contraiy, by a iefer- .
ence to the various acts of Congress bearing on this subject^ it will be
manifest thatdf the Department, under the iiifluence of sympathy rather
than of official obligations, "should allow anything not equivalent to
specie to^be received for duties, it. would viplatethe letter of the priginal
law on this subject, and the invariable practice under it, with one brief
, and occasional exception which existed orily in certain sections of the
countiy about twenty yeara since, and commenced-during invasiori.and
war. It would also act in coriflict w;ith both the letter- and' spirit bf -the
jointresolution of Cbngiess,. afterwards passed in April, .1815, for the
avowed purposed-of preventing any longer or future deviation from the
actof 1789.
'
•; •'.
^ .
'
.; ' /
If, in a period of profound peace, and in many respects of great
prosperity, the President and the undersigned, as mere executive o.fihcers,
jealously-restricted by the Constitution and by statutes,-should proceed
to dispense with theselaws withbut .previous permission from Congress,
it niight certainly be considered one of thpse 'uiiwarranted usurpations
of power so boldly and cogently denounced by our forefathers; and^.
without doubt, we. should next, and on similar grounds, be requested t o ,
extend a like indulgence to all debtors of the • Goyernment, whether
.individuals or banks, and to all the purchasers ofthe public lands, though
these last are likewise- required by statute to be paid for in " specie, or
in evidences ofthe public debt of the-United States." Any such disiegard of those-imperative requisitions would lead to pther consequences
almost equally alarming and deplorable, as it would amount to the receipt
for duties pf what, was less valuable to the community and to the Governmerit than what the acts of Congress .expressly direct.
In this way, without legal authority, the interests of the United States
would further be injuriously relinquished and compromised by virtually
allbwing a diminution ofthe whole tariff of duties, and all the incidental
benefits anticipated from it, to a n y g f the:grea;t brariches of industry, iii
the countiy, quite to the extent ofthe difference in value .between, specie
and the notes of the banks not paying-specie. The :many-millioris. pf
unavaihible paper which would probably be thus placed in the Treasury
for duties and pther debts, it would be difficult tb compute;. as,, besides,
the twenty-six pr seven millions now due from individuals and .banks,
most if not all of the future revenue accruing; feom customs, or the
increased sales of pubhc land in consequence of such a system, would
be paid to. the. United. States in notes ofthe same depreciated character*
It deserves consideration hkewise, what could legaUy be. dorie with such
funds when collected;' as,"by the second section ofthe act of April 14thj
1836, the t r e a s u r y is expressly forbidden to, offer, in payment of any
claim whatever .against - the United States, 'iany bank note of any
*denoininatipn, unless the same shall be payable, and paid on demand,
•' in gold or silver coin, at the place where issued, and which shall npt
*be equivalerit to specie at the place where offered, and convertible into
*.gold or silver upon, the spot, at the will of the holder, arid without delay
'or loss to him." .
How great would be the. loss on such irredeernable funds, arid who
ought to'bear it. When tliey .are received contrary tb law, and-how



1837.]

.SECRETARY OF T H E TREASURY.

45

destructive such measures would prove to the preservation of a sound
constitutional currency, by indirectly sanctioning, as they would, the
disuse of specie fo.r it' here, and the consequent export of it in large,
quantities to foreign countiies as an article of trade, need not be dwelt
ori at this time. Itis m.bieover manifest, that all such collections would
further disable the Treasury from paying immediately, in the manner it
is bound by law and good faith to db, the various pubhc creditors; some
of whom are stated,. as a matter of cbmplaint in your memorial, not to
be able . now to obtain specie * for their claim's. But if the indemnity
;-certificates and debentures to which you refer havb not all been paid in
specie or its,equivalent to the merchants or other holders, you. .may rest
•assured-that the failure to do it has not arisen frbm ariy directioii tothat
effect by the Treasury; but, on the contraiy, that express orders have
b'eeri giyen to meet bpth with specie when demanded; and, if not done,
the failure -has occurred, and will contiriue, orily in consequence of the
regretted omission pf the irierchaiits themselves promptly to discharge
.their bonds in specie, and of a like omission Ori the part of the banks
(through the misforturies. or advice of many of their customers) not to
continue to discharge their, .obhgations in the manner provided by law
and their agreements,-with the Treasuiy. Orie great and paramountobject, therefore, in requiiing that the public dues should be paid to the
United States in a legal, manner, is to enable the Department, in this
emergency, faithfully and ;promptly to pay others in that mariner, and
.;as sobii as practicable to overcome any embarrassments or delays to its
own creditors which may have happened - in consequence of the course
pursued by those on whom the Government is immediately.dependent
for its available means. ^ You justly intimate that the" public payments
ought to be made iri^ this w a y ; and you may rest assured that, iif all
cases where creditors are riot otherwise/satisfied, it-will cheerfuUy bedone the moment the Treasury is enabled tp accomplish it by a compliance with their engagerrients on the part of thbse indebt'ed to the
United States. • ' . . " >
If, from the'accidents and inisfortunes of others, in any instance, such
an inability as you describe has occurred with any of our fiscal depositories' or custom-house officers, and any reproach shbuld inconsiderately
-be cast on the Government for this iriability which has been caused by
others, (though, without doubt-, unintentionally,) you may; rest satisfied
= that no proper effort wiU be spared, here to avoid -deserving the censuie
•of "extreme hardship or injustice" en this.account, and (by strenuously
endeavoring to do to others all-which it asks of them) to discharge every
claim against the Government, in specie or its equivalent, at the earhest
day practicable.
• °
' .'
In connection with this, and merely in justification of the Treasuiy, it
may be proper to ^notice further, that besides near thirty milhons elsewhere, something like three-quarters of a million of dollars were due in
your city alorie from merchants arid institutions of which many of them
are ineinbers, and payable to theUnited States in specie and on demand,
at the time your memorial was forwarded setting forth the omission of
our fiscal agents to pay in that currency some small demands held by
:ra.portion of the mercantile community.' • '
. "
,
. .



46

.

.REPORT&.OF.THE :

:\

. .

[1837.

•. This.- Departmentis aware that,-even after all its- forbearances and .'
mitigatior3.s, some'embarrassments rriust .still- be'urid,efgone,;"in certain, •
cases,'by means of iricidental- difficulties j .and the« Strictness, bf the laws '.
as to cash-duties,. Whieh were introduced whblly for the benefit-of mariufacturers rather thari .of the fijiances. Butitcariribtcbncur iri the bpinion • •
that, during the present faVorable condition "of the cpjintiyin respect to
its large amo.unt of specie, it-will be impossible .<tp obtain ^sufficient .for
this purpose; and corisidering that all Which is'paid mLuatirri-mediately
• return agairiinto active circulation, it^ trusts, that the rnercharita v^ill find. -'
themselves fully inderiiriified-fp.r the' inconveriierice'and;limited sacrifices'-;*
to -which they niay be. exposed • iri..o.btaining-the srnall sums, riecessary-for';.
• their object, by and after the hberal .iridulgences authorized On their duty^'b o n d s y . . . •'

« •

-^ ' • : ' ' . ,

.....-, .

.

'

'

.' • .'" . .

.

. '•

: 0 Thus, by instructions published at' Boston', since ypur letter-was prob- "
ably written,, the disagreeable result ybu .anticipate, to wit.: '^ that there
is no course left to the merchants;but to submit to a suit and its.-^.uriple'asant' •'
consequences,"'lieed rarely, if ever,"occur in cases .o.f real isolyency; as .
liberal extensions of credit have been" permitted,: under, proper circurn--^
stari'ces, hefiore as well as,'afiter suit, tUl'therneetingpf Congress; arid,:in
addition to these, an extraordiriaiy session of that "body has been called *. "
by the President at -the earhest corivenient day, Vith a vieWj among'other '
things, to'afford an oppbrtunity.for.new legislation tp'yield furthei*felief'.•
in the present embarrassing, posture of affairs;
-;.;
: ° • '
. -. . .
With'these explanations, and such others ks appear-in the documents^^.'
before referred to, and -which, ere this, have probably reached-your city,;..
the Departmerit cherishes a.hPpe that .yoiir Chamber of Commerce will
be satisfied ..that everything of-an-allbviating character has'.already been
.dbne iri respect to .duty bonds which .the' laws, sanction and the public
interests justify; that.all .proper exertipns haLv:e been made'and are maldng ..
by it to preserve the same good iindlegal; fidelity-.in its obligations t o ;
others which it requests, of theni; that if not .successfril, the -failure will
arise frorii the misforturies' or neglect of .others; arid that,'by a firm
perseverance in the path; bf duty on this subject, reciprocal aid. wUl be
conferred both by the merchants arid the Treasury,to preserve a sound
state of'the currency for'aU the public purposes,'and gra.dually, if not.'
speedily,-"restore.one for;aU the necessary transactioris of life. ,-. ;
This Departmohtcorifides.'so much in the .intelligence, cprrect piin^ ,
ciple.s, and patriotism pf those who, through; you, have addreased it, that •
it cannot doubt they WiU -be solicitpua-to prevent, everi in times of the"greatest'embarras'sinent, any-discredit being "cast on thb character arid
practical workings .of bur.free institutions;. _
It feels satisfied that the .Chamber of Comnierce as'weU as the whole
community must,, after reflectirig on such consideratipns, become quite
as desirous as the. undersigiied for a mutual and vigorous-coop;eration to- .
uphold the habitu.al opinions and practices in favor of the inviolability of •
the Constitution and lav^s which are. fbrtunately.'so characteristic of the
gieat mass of the .population in eveiy .quaiter of the IJnibn. • ' . .
It is in this manrier bnly. that the. Dep^aitment. cari be enabled -to cany •
pn the fiscal operations -of the Tjeasuiy- sp as to inairitain the public faith" •
'uninapaired at -horiie'arid abi:pad, and .sustain,.as .far aa relates to the .



.1837.]

SECRETARY OF* T H E TREASURY.

47

curren.cy, a sound standard of value,.in the true spirit of the Constitution,
and according to the best estabhshed principles, of pohtical economy.
Respectfully, yours, • .
L E V I WOODBURY,
. •
,
• Secretary ofi the Treasury. \
To WILLIAM §TURGiss, President; G . " W X L E ^ , ' R . G . SHAW, Vice Pres'idents; and G.M. THATCHER, Secretary; ofi the Boston Chamher ofi Commerce.. • • " • - . ' ; - . . .
•* .

F2.
TREASURY IJEPARTMENT, May

19,

1837.

.SIR: This Department has, with much surprise, seen several representations in the daily press concerning certain, declarations made by
you at a recent' public- meeting in .New York city, as.to the course you
intended to pursue in future in coUecting the public revenue.
.The-iinportanceof the. subject, and the nature of these representations,
render it my unpleasant duty to callypur immediate attention to them.
Some ofthe accounts pf what took place represent ybu as saying, in
substance, that, 'as the orders of the Treasury could not-be complied
with, you, on your own responsibility, would dispense with them; while
others state that you understood a discretion had been leftto you b y t h e
Executive ori.this subject'; and that, in the exercise of such discretion,
you should not coriforrn to the instructibns of the Department, either by
coUecting the money yourself'which fell due for duties, .or by collecting .
it in" such. kind of m.oney as" the laws 'require. Other represeritations
convey the. idea that if you -pm-sued•*such a.course the Goveiiiment
wbuld make no..objection to it,.
•.
. .; .' ' ; "
Under a behef that- in these reports as to your iemarksand determination on this subject some unfortunate errors must have occurred, or
that you must have imbibed very incorrect opinions concerning the views.,
entertained by the .Pepartment, it becoriies proper, on the present
occasion, to repeat, in explicit terms, the real character and extent of
. those'views.- '.•
. *. - ' -- * .
- * .
1.' T h e order as tothe mode of collecting bonds, by yourself,* rather •
thari'*thr.bu'gh the b.anks, and in specie'or its equivalent, was; iri the last
respect, iri'accordance with the course which you.reported to this De-.
paitiiient fbr its approval on the- .suspension of payment by the banks.
"The ordei;was the same in substance, iri all iespects, at your port, a s '
that adopted at all other .ports in the United States where no banks paid
specie- on derriand. for 'their notes, and w.here, iri that event, the express
language of the'deposite act of' June, 1836, imperatively required their
discontinuance as public'depbsitbries; and other law§ virtuaUy forbid
.'the .receipt o.f their notes for duties, . ,
" ;
'
\.. . •
- 2. But, in'-the-w.ide-spieadcalariiity which had-recently faUen on the
•commercial world, and,.through*it, upon those banking'ins.titutioii's, in
.common with -others which were: .depbsitoiies of the public .mbney, it



48

R E P O R T S OF T H E

[1837.

was eviderit that our finances must become embarrassed through the
previous embarrassments of others, and that great care and efforts must
be exercised to meet ..faithfully the current public engagements. At the
same time it was desirable that every indulgence and forbearance should.
.be exercised, and were intended by the President and this Depaitment.
to be liberally exercised, towards the public debtors. Which those engagements would permit.
3. Accordingl;^, in order'to mitigate the evils which pressed so.heayily;
on the merchants, this Department, with the sanction of the President,
at once authorized a postponement tp be granted, in all suitable cases,
ofthe payment of duty borids as well befpre as after suit; and, subsequently, as new events justified, permitted it to be extended till after the
commencement of the next session of Congress.
..
^ .
The Departmerit likewise empowered the collectors to receive for
duties the draft's of the Treasurer in favor" of the public creditors which
might not be paid in specie to the holders by the- banks on which they
were drawn.
:
> Outstanding debenture. bonds are also receivable in the same w a y ;
and,' to afford the opportunity to procure still fuither a;id and relief^, if it
shall-be deemed proper by,Congress, thatbody hais .been specially con-^
vened by the President at the earliest convenierit day.
^ After.all these mitigating measures, neither the; President npr this
Department saw any;further indulgence which could be given consistent
with the acts of Congress, and which it was within our poweis to
bestow, hmited and regulated as those powers are. by various express'
laws.
. ^'. • .
•
It was and still is hoped that -the merch^ants vvould, till Corigress
assembled, che.e.rfuUy incur the dimiriished sacrifices in respect, tb the
payment of some of the dutiea.which their liabilities and busiiiess might
render necessaiy; and that the .bfficers connected .with the cu^tbma
would feel a pridcj aa-weU as zeal, in encouraging them to uphold the
laws faithfully, and neither countenance nor permit any-departures
from them. '
•'
The Executive possesses no authority to delegate to you, rior has it
intended to delegate, ariy dis ere tipri to disregard those laws in;any particular, or to act cpntraiy to the instructiona ofthe Department, which
had been issued in conformity to them; nor can it sanction the exercise
of any such discretion on the part of any of the officers of the customs.
It would 'seerii better that the duties, whether due on bonds or in cash,
when the goods are; entered, aiid which the merchants maybe unable, if
not postponed, to pay in any bf the legal modes before pointed out, till
the parly day bn which Congress convenes, should go entirely unpaid"
from inability to meet them legally, than be collected or discharged in a
manner that is npt sanctioned either by the acts of Corigress or our duty
to the Government.
"
-^
The department is willing to' make liberal allowances for acts growing out of the sympathy-naturally felt for the embarrassmerita. of the
commercial community, and the strong desire to contribute to their
relief; but you-must be.sensible that the newspaper accounts which have
already appeared are calculated-to cpnvey the idea that the President



1837.]

SECRETARYOFTHETREASURY.

49

and this Department are disposed to overlook, or even to approve, the
unauthorized course, which it is said you propose to adopt; and it is possible that, from your full knowledge of'the sincerity,and extent ofthe
anxious desire ofthe President and of'this Pepartment to .afford relief,
you may have' entertained the impreasion that such would be the case.
It therefore becomes my .duty instantly, to ipforin you that all such
impressions are erroneous, and it is hoped that many of the considerations before stated will have occurred-tp ypu; .and that, urider their influeiice, you WiU continue to d-ischarge your duties in the manrier poiiited
out in the acta ;of Congress and the instructions of this Department.
I am, sir, veiy respectfully,, your obedient servant,
LEVI WOODBURY,
.
, - .
-•;'.'
: ' Secretary ofi ihe Treasury.
SAMVBI. SwART\vovT-,'Esq.,/Collector, New York. .

F 3,
•v_ • ; . ; . ••
•'•••-:'-•
• NEW;YORK, .^2^?^^if28,''t837.
'SIR : The uridefsighed have been appoirited a' committee bf the Chalrii-.;
ber bf Cbm'rrierce ofthe city of Neyv York, for the purpo'se of addressing
to you the following repre sentatioris upon the subject of the payment bf.
custom-house bonds beCbniirig'due, arid of duties Upbn Wool arid woollen '
goods .now;lying in the'public, stPrea iri .this city. •
/ .*. ^ - .
It appears that there were custom-house bonds in the^^hands of the
. district attorney,, payable pie viously to the first of this morith, (August,)

for ; . . . _ . . . . . . : . : . . , . . . : : . . . . . - . . : . . . - - . . . . - - . : . . . . . . f 2 ; 2 f ) o ; o ( y ( >
And at custom-house, payablein A u g u s t . . . . . . . . . . . . . . . . . . . . 705,500
. • Ditto •; • • .,do^
'
^ . S e p t e m b e r : : ^ . - . . . . . . . . . - . 1,004,727 '
• Ditto ' d o .
- October.\;...-........./
536,093:
'•".\
, Dittb"^
/.do..
^INfby e m b e r . . .
. : . . . . ^ 3'50,fe46
; :
Ditto . :
doV „- D e b e i r i b e r : ^ - : ^ . . . L . . . . . . .
318,245'
Ahd duties on-merchandise not entered,'riow in public stbr^
estimated at.~. :•.,:.'. . ^ : .^ . . . . ^ . . . . . . . . . . . . . i . . .fi . ^ . . 2,-00t),dW
Total.........$7,115^,^11
This port being the:recipientcf mercharidise destined for the conaumption of a large portion bf the -Union, theimpoiting'merchanta: here assume,
in the first instance,'the -responsibihty of paying the dritibs tb Government; and the histoiy of the past anay ^well attest thb.fidelity with which
that" responsibihty ha.s been dischai^ed until tire present time, when the
general condition of affairs has beeri so essentially changed. . "
• After the banks of the Union had; suspended specie payments, the,
difficulty of. paying the dues to Goyernment in legal currency became '
insurmouiitable, and, a t the instance of this committee, the period of
> VOL. IV.—4.



50

R E P O R T S OF T H E '

[1837.^

paynient of custom-house bonds was postponed by your Departnient
until the 1st of October next, in order that Congress,'which would then
be assembled, might make the. needful laws upon this new shape, of
things.
' ;
. . .
The mercaiitile and trading interests of the whole country have sirice
been laboring under unparalleled difficulties, so that rehance can no
longer be placed u]^on.receipts, which mainly govern the regularity of
.jpai/me?^^:^, by air connected with commerce. - . .; " ..
; Ow;ing tp the entire deraiigernent ofthe internal exchanges, and to
the absence pf a specie staiidard, funds-, everi.when collected at vaiious
pbints of the Union, are generally uiiavaUable^ as the mearis of payment
here. .;, :
The banks of the city, w^ith a laudable desire to resume specie payments at the earliest day, must adopt a system of restriction, and therefore y^ithhold ..facilities, noW. more needed than^ evei' by their dealers,
whose cpllections in bank, chiefly consist of payriients of a part only of
the amount due, with renewals for the remainder for two, three, and
four months; and at the end of those periods, .similar, renewals are
repeated.
'
. .
'
This total derangement of alf the means of carrying on the business
ofthe country'throughout its'vaiious .sections, has rendered the'coUection
of debts impossible; and accordingly the. vast amount duor-for goods
already sold in this city, on which a large portion of existing duties were
levied, remains unpaid, and .without any immediate prospect of .liquidation. Nor can sales now^ he made of foreign merchandise on hand; and
it is impracticable to conveit goods into inoney, as weU from the inability
to pay on the part of buyers, as from the unwillingness to seU On credit
on the part ofthe holders; and sale^ by-auction can only be rnade
at ruinous sacrifices.
<
.
> .
'
. - .
-^ A general,extension, to a large portion of their debtors, has also-been
granted,for a period of t\yelve mpnths and. upWards, b y t h e importing
mercharits of this city;; and there is now due from other places, to those
engaged here in the impoitatiori and sale of foreign merchandise, a much
larger amount%hari would pay off aU debts frpm this city to the Government and to foreign countries.
A very large proportion of the means of the importing . merchants is
thus virtually withdrawn frpm their control, and scattered throughout
theUnion; whence it cannot be collected^ in any avaUable manner, in
the present state of suspended paymerits by banks and individuals, ,of
derangement in the domestic" exchange, and of interruption .to business,
throughout the whole countiy'.^
'
. ' : •
•
Under these circumstances,"the importing riierchants have no alternative left-but to ask the Government to apply to them the same measure
of rehef which they have granted to their'debtors, by extending for a
year the peiiod of payment of bonds and of other, dues at the customhouse; at which tinie, it is fully believed there wUl i:emain no'obstacle
to a punctual discharge of aU such indebtedness.
. :\
•
The like reniarks apply to the inabihty of the impbrters of w:opl and
wpollen goods, now in public store, to pay duties ;' which will ariiount,'
according to the a,bove estimate, to two miUions of doUars. The: Gov


1S37.]

SECRETARYOFTHETREASURY.

51

ernment holds these goods in its bwn keeping; therefore, the revenue is
secure: and the extension of one year beyond the time required by law .
may, with.entire safety, be granted to the importers for entering and
paying the duties on these goods.
The undersigned, therefore, respectfully represent the necessity
which, under the circumstances, set forth herein, renders it expedient
that Congress should interfere, at a day previous to the 1st of October
next, by the passage of a law providing for the postponement of the
collection of such bonds at the custom-house as may fall due prior to
the 1st of Januaiy next, with assent of sureties, and upon interest; allowing, however, the option of earlier paymerit, and thus stopping interest:
andj also, to extend, for one year, the respective periods within which
goods subject, upon entry, to the payment of duties in cash, may be
retained in the public stores.
' '
In the hope that these suggestions may meet your approval, and, in
that base, that you wiU see fit to recornmend the passage of such a law,
at the opening o f t h e ensuing Congress, a-nd in the mean time, that
ypu .would favor us Witha reply,
'
. W e have the honpr to remain, sir, respectfully, ybur obedient
servants
'
• .
' J. BOOKMAN,
JAMES L E E ,
JAMES D. P . OGDEN,
JAMES G. KING,
C H A R L E S H. RUSSELL, GEORGE GRISWOLD,
J A M E S BROWN,
JOHN B. STEVENS,
Committer of the Chamher of Commerce of the City of New Yorlc.
T o the Hon.

. .,

L E V I . WOODBURY,

:-

Secretary of the Treasury, Wdshington.

. TREASURY DEPARTMENT,
: • ' •

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•

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x

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•

•

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•

••

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1

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^

^

-

SIR : Having been furnished with a. copy of the law passed by the
Legislature of the State of
.
^
, it appears that you are author- ized to receive, in behalf of that State, the amount to be deposited
therewith, by the prbvisions of the act of Congress "to regulate the
deposites. of thelpublic money,^' approved 23d June, 1836.
That amount has been ascertained to be
dollars,
the
^ ; . quarterly payment of which wUl be riiade at the respective
banks to; which the enclosed transfer drafts, amounting in all to
$ . ,c
' , are directed, upon your executing a receipt agreeably
to the enclosed form, to each of them, for the sums recei^^ed therefrom.
I. ani, sir, veiy respectfuUy, your obedient aervant,
,^
:
•
,
• .
'
SecretaryoftheTreasury..
P . S. It riiay be useful, in the present embarrassed condition of the



52

E E P O R T S OF T H E

[1837.

pecuniaiy concerns of the countiy and of the banka, to suggest that, for
reasons growing put ofthe,. deposite act, as weU. aa the existing liabih^ .
tie's of the banks, and the obligations required from the States to the
Treasury, no one of the latter is required to accept, on the. withiri
transfers, ariy kind of money which is not available and at par, and
which it is-iiot ready to account for in the.same way when required. .
Shorild any ofthe banks, therefore, on which the rtrarisfers are: drawn.
fail to deposite with you such mone}^, they rnay'be returned ;to this
Departmerit, with a statemerit of the fact, in order that the. case'may be
subniitted to Cbngress at its apprQaching, session, '
-

:. Form ofi a receipt hy a StCLte.

-

"Whereas, by the 13th sectioii of an act of the Congress of the Uriited
States, erititled " A n act to-regulate the deppsites of the .puMic :mpiiey,"
approved-the-23d of June, 1836, it,was enacted "that the money Whiph
* shaU be inthe Treasury of the United States pn the first diay of January,
* 1837, reserving the surn of "five millions'of dollars, shall, be deposited.
' with such of the seyeral States, in prbportion to -their respective repre'sentation iii the Seriate arid House of Representativea. of the United
' States, as shaU .by l a w authorize their-treasurer, ^or the- competerit
'authorities, tb receive the same, on the terms hereafter;specified; "and
* the'Secretary.; of the Treasury'shall deliver t h e sariie to csuch treasurer,
'or other competent authorities, on receiving , certific ates ..of deposite
' therefbr, sigried by such competerit authorities,in-such fprm as may be
'prescribed by the Secretary "•'aforesaid."
.
' .
;
Arid whereas the State of
"
has, by'ari.act ofits
Legislature passed on the ''
d a y o f • •' ^', one thousand
eight hundred and thirty
, authoiized and directed the
of
the said State to receive its proportional share of the said surplus moneys
of the United States on deppsite with the said State,, upon the terma
specified in the said act of Congress: .
And. whereas the Secretaiy of the Treasuiy, in ^pu.rsuance of the
prpvisions ofthe said act of Congress, and in corifprrriity with the provis-,
ions of the ^said act of the Legislature of the. State of'^...
.,;
.. ,
has iielivere.d tp the
. . ; thereof the sum.pf
/
.", dollars 'and '
;' . cents,'the saiiie beirig the 'first instalment,^ or Pnefouith part of ;the ratable prbp^^
o f t h e said; State in the surplus
nioney ill the Treasury on the'igt day of Jariuary, ;f837 : '
V . •
Now, thei;efpi:e, be it knoWn,:thaLt 1, ' - • . .fi •_.
, do hereby
certify that the said surn bf.
'^- • • " •.dpUara arid.
' ... .cents
has beeri deposited by the 'Secietary bf the Treasuiy .with the Sta.te. of ,
' ; . , arid that for ihe safe-keeping and.'repaymerit of the,saine;'
to'the Uriited States, in conformity to said act bf Cori'gTess, the...State of.
is legally bound, and its faith is sbleiii'rily'pledged. And
in pursuance ofthe authority of the act of theLegislature afbresaid, for^
and in behalf of the ;sard State, 1 hereby affix iriy sigriature arid seal in
testimoriy .of the premises, and of the faith of the said State to pay the
said moriey so dejposited, and every part thereof, from time.to time,
whenever the sariie shall berequired by the Secretary of the Treasury,



1837.];

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

53

for the pui-poses and in the manner and proportions set forth and
described in the said recited. 13th section of the act of Corigress afore-:
said,.and by a requisition or notice similar in form to that hereto annexedj,
addressed to the. care of the GovernPr of said State.
.
Sigried and sealed this , /
day of ^
..
, one thousand
eight hundred arid tlrirty
'
,'
,
,' A t t e s t : ; •

• ,.
•

'

• '-. ' : " \ '

^'- •/•

^.,

'

The form ofi a Requisition or Noticefior'.repayment-will he suhstantially asfiQllQWS.:.
'
••-

'•

-..

'••

• ' " " .

. . -

- " :

Tp-THE STATE'OF'. ,

; ' ^ '

•

,'

•

.•

TREASURY DEPARTMENT,
• • •

,',.:.:^

] ' • • • ' . ' . ' ' ' ' :

•:;:;:''•

" : • • ' • • ' • ' ' .

'

•

'

'

l

^

^

'

• • . .

.,_'/•','•.

Under the provisibns of an act of Corigress entitled " A n act to i;egu^^
late the-depositea of the public money," passed June 23d, 1836, and an
act of said State passed'
" •;-, certain sums of money
belonging to the Uriited States- having been deposited .with the State
aforesaid fbr safe-keeping, and repayment, iii conformity with the provisiona of said act, said State is hereby notified tha:t a poition bf said money,
viz: the sum of .$ .
, is required to be repaid to the United
States^ by.the State aforesaid, forthe purposes named in said act, and
:in-coriformity with its. provisions.
.— —_ — - -- -^
—
. ..: •
'
' 'Secretary ofi the Treasury.
Ccireofihis Fxcellency .
.
,
' . -•
. Governor ofi said State.
, .
[The repayment of the said sum to the Treasurer of the United States
will be in one ofthe following modes—which this. Department may
in any paiticular case piefer and direct, viz: : 1. By a request annexed to the above requisition to place the same
to. the credit bf said Treasurer in the Bank of ^ '
, at
, on or
before the
day of /.
next, arid to take duplicate receipts therefor; oneof which receipts.* sent'to the said Treasurer will be a sufficient
voucher for the amount'of said, repayment on. the part of said State.
.2. Or,- by a request written: by said. Secretary on the back of a common
•Treasury warrant j . directed to the State for payment by said Treasurer,
..that said State: would pay the same; arid which warrarit, with-a receipt
of payment theieon, will be a sufficient voucher as afprpsaid.]

H 1.
Circular firom. the Secretdry ofi the Treasury with regard' to the receipt, and'
•; . .
' ' transmission hy mail, ofi hank notes:
° ^
'/;
;'
; - TREASURY DEPARTMENT^ Sep^emSer 22,17^^^^^^ •
- SxR^: In.consequence of arrangements laitely taken with the Bank



54

~

R E P O R T S OF T H E

[1837.

of North America and the Bank of New-York, for the accommodation of the Government, I am to inform you that it is my desire thait
the notes of those banks, payable^ either on demand or at no longer
period .th^ri thirty days after, their respective dates, should be received
in payment ofthe duties, as equivalent to gold and silver; and that
they wUl be received from you as such by the Treasurer of the United
States. •'• ^ , . r^. - ^ ^ •
• • ' ; • •
This; measure, besides the immediate accommodation to which it has
reference, will facilitate remittances from.the several States, without
drawing away their specie—r^an advantage in every view important.
r shall cause ybu shortly tb be furmshed with iBdieations of the
genuine notes as will serve to guard you against counterfeits, and shaU.
direct the inanner of iemitting' thbm. In the mean time, and until fur-^
ther .orders, you will please to receive them,ti'ansmitting to me a weekly
account of your receipts.
" The Treasurer bf the United States will probably have occasion to
dm'w upon you for part of the. compensation of the members bf Coiigress
from ypur State. .These drafts y o u will also receive in payment of. the
duties, or iri excharig'e for any specie arising from them which shallhave
come to your hands;
.
'
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I amjf sir, youf obedient servant,
fi..
ALEXANDER HAMILTON, ,
. ;, '
\
Secretary ofitJpe Treasury^
OTHO H. WILLIAMS,
' .fi ..,•:•, •
Collector ofi the CustomsfiorBaltimore,. Maryland^

H 2.
Extract firom. a Reyort ofi the Secretary ofi the Treasury ofi April 22,/ll90,,
with regard to the collection law.
.' ' -.
SECTION 30. This section proyidea for the-receipt of the duties iri^
gold and silver coin only. The Secretary haa considered this provision as
having for object the exclusion of payments inthe paper emissions of the
particular States, ^ and the securing the immediate or ultimate collection
ofthe duties in specie, as intended to prohibit tp individuals the right of
paying in anything except gold or, silver coin, but not to hinder the
Treasury from making such'arrangeinents as ita exigencies, the speedy
command of the public resources, and the convenience of the community,
might dictate; those arrangements being • compatible with the eventual
receipt of the duties in specie. For instance: the Secretary did not
imagine that the provision ought to be so understood as to preverit, if
necessaiy, an anticipation of the duties by Treasury drafts receivable at,
the several customrhouses. And if it ought npt tb be understopd iii this
sense, it appeared.to him that the principle of a- difFerent construction
would extend to the permitting the receipt of the notes of pubhc banks
issued on a specie fund. Unless it cari be supposed that the exchangirig.
of specie, after it has been received, for bank notes tp be remitted to the



1837.]

:

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

55

Treasurj'-, is also interdicted, it seems difficult to-conclude that the
receipt of them in the first instarice is forbidden.
.Such were the reflections ofthe Secretary with regard to the authority .
to permit bank notes to be taken'in payment of the duties. The expediericy of doing it appeared to him to be still less questionable. The
extension of their circulation by the ^nieasure is calculated tb inciease
both the ability and the inclination of the banks to aid the Government.
It also accelerates the command of the product ofthe revenues for the
public service, and it facilitates the payment of the duties. It has the
first effect, because the course of business occasioiis the notes to be sent.
beforehand'to distant places; and being ready on the spot, either for
payment br exchange, the first post after the duties become payable, or '
are received, conveys them to the Treasuiy.
The substitution of
Treasuiy drafts anticipatirig the duties, could hardly be made without
some sa;crifice ori the part ofthe public. As they would be drawn upon
time, and upon the expectation of funds to be collected, and of course
contingent, it is not probable that they would obtain a ready sale, but at
a discount, or upon long credit. As they wpuld also be more or less
liable to accident from the fkilure of expected payments, there would be
continually a degree of hazard to public credit. Arid to other considerations.^ it may be added, that the practice of. anticipations of this'
kind is in its nature sp. capable of abuse •, as to render.it an inehgible
instrument of administration in ordinaiy cases, and fit only.for times of
necessity. *
'
,
If the idea of anticipation should be excluded, then the relying wholly
upon Treasuiy drafta would be productive of considerable delay. The
knpwledge that funds Were in hand must precede the issuing of them;
heie would, of course, be some loss of time. And as the moment of
demand created by the course of business would frequently elapse,
there would as frequently be a further loss of time in waiting for a new
demand. In such intervals the public service would suffer, the specie
. would be locked up, and circulation checked. Bank notes being a con- *
Veriient species of money, whatever increases their circulation increases
the quantity of current moriey. Hence, the payment of duties is doubly
prompted by their aid; they at once add to thfe quantity of medium, and
serve to prevent the stagnation of specie.
The tondency of the measure tb lesseii the necessity of drawings,
specie from distant places td the seat of Government, results from the
foregoing considerations. T h e s l b w operation of Treasuiy drafts would
frequently involve a riece.ssity of biinging on specie to answer the exigen- '
cies of Goverriment, the avbiding.of vi^hich-as much as pbssible, in the particular situation of this country, need not 'be insisted upon.

•

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TREASURY DEPARTMENT, May — , 1837.

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SIR J As.the painfril informatibn has reached thia Depaitment, through
the pubhc press, that your bank.has ^suspended specie payments, the



56

R E P O R T S OF T H E

[1837.

object of thia letter is to. learn officiaUy if that fact has happened;'and to
receive such explanations coricerning the reasons. for it,' and the future
course of your business, as it ^vUl be apparent are so important. foi\ this
' Department to know, under the existing liabilities and relations betweeii.
you and the Government.
While,on the One hand, it is deemed proper that such indulgences
should be granted' by this Department to ita former fiscal agbnts as they
may request, consistently with the laws and with the present state bfthe
Treasury,' it must be appaient,'on the other hand, that nothing caii. be
graiited which- is likely to endanger the safety pf the public funds, and
other impprtant public interests.
;
.. ' • :
- The imperative provisions of the. act of June, 1836," make it .the
duty of this Department' to discontinue brdering any further'sums of
"public money to- be placed With the deposite banks, after suspendiiig
specie payments. And hence you are notified that no rriore can. be thua
deposited. in your institution, provided such a failure, to. redeem^ your
notes has actually occurred.
^•
, . '
It is'also made my duty as soon as practicable to select other deposir
tories, and place with them the money of the United Statea in your
possession, as well aa the abcruing revenue; but the Department w^ill
'endeavor to draw out.the funds iri your hands by warrants and transferal
reasonable in their amourit andin the periods of their payment.. Such
warrants and transfers, it ia trusted, ybu will at all time a be anxioua
and able t o meet iri a manner, satisfactoiy to- aU cpncerned;..not only
with a-view to frilfil faithfuUy your contract, and relieve the Treasuiy
and its creditors-frbm embarrassment and losses, but to exonerate your-,
selves.arid sureties from consequences equally injurious, inevitable, and
unpleasant.
'
•
..
r tru.st, further, that you will continue to regard it your duty, while/
any public money remaina in ybur possession, t o forward regularly aU
the returns and statements Which are required by-your agreement—ythe
mutual advantages-from doirig which cannot failto be obvious. ; . '
The ' Department will also feel iriuch obliged if you will furnish, a^early-aa practicable^ rephes to the two following inquiiies, iri order that
it may be.in possessibri of such inteUigence from you, in ,an authentic
form, as wUl be/useful to'the community arid the States, and very"'
inaterial for regulating properly the future .measures of the Treasufy.
Those inquiriea are-^^ ;
/
. ~
' 1st. Whether ybu expect to resume specie payments soon, arid v^hat
mode, you propose to .take fully arid seasbnably to indemnify, secure,•and satisfy the Government and the priblic creditors for any breach^ of
your agreement and bond? ^^
' " ".}•.'
' • , - '. . . ^
•
Sd. Whether, if you do not expect to resume specie payments soon, .
any'particular time for it hereafter haa yet been decided on, and what
special efforta or arrangements you intend tp make for that very important
oljject?
•
. I am, very respectfully, your obedient servant,
^: / LiEVI WOODBURY,
.
•
. .
'
'
Secreiafy ofi the Treasury.
T o the C A S H I E R ^ ^ A e . . . ' . Bankfi.
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1837.]

SECRETARYOFTHETREASURY.
• • •'

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K.,.;•.•;

List ofi Deposite Banks discontimced imder the Deposite Act ofi June,. lSB6c
Mercantile Bank, Bangor, Maine., . •
'
•
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Maine'Bank, Portland, Maine.
. :
Cumberland Bank, Portland, Maine.
-. . ' ^
Granite Bank, Augusta, Mairie. . ...
.,
York Bank, Saco, Maine. ^
.
NeW Hampshire-.Bank, Portsmouth, New Hampshire.
.Commercial Bank, Portsmouth, New-Haimpshirp.
•Portsmouth Barik, Portsmouth j New Hainpshire.,
Piscataqua Bank, Portsmouth,.NewHampshire..
Merrimack County Bank, Concord, New-Hariipshire.
Mechanics'Bank, Concord,. New^Hampshire.;
. Merchants'Bank, Boston, Massachusetts;. ;
Commonwealth Bank, Boston, Massachusetts...
..
. Fj.'anklin Bank, Bostbn,'Massachusetts.' ' :- .
Fulton Bank, Boston, Massachusetts. ;;
Hancock Bank,; Bo.ston, Massachuaetta, i. Phcenix Bank, Chariestown, Massachuaetts,
: .'
Bank of Burlington, Vermont.
.
;
Bank of Windsor, Windsor, Vermont.
-;;
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Quinebaug Bank, Norwich, Connecticut. .
..
Farmers and Mechanics' Bank, Hartford, Connecticut.
Mechanics' Bank, New, Haven, Gonnecticut.;
. V
Arcade Bank, Prpvidence, Rhode Island. V ;
..
Rhode Island Union Bank, Newport, Rhode Island.,
'
Mechanics and Farmers'Bank, Albany, New Yorki
• .: .
Manhattan Company, New York, N.'Y. ,; . . " . ' . ' '
Bank of America, New York, N. Y . /
. '
Mechanics'Bank, New, Ybi-k,-N. Y. " • ;.
Seventh Ward Bank, New York, N. Y.
-Lafayette Bank,-New. York, N . Y . ; • .- ; ' -\. ^
-•
Phoenix Bank, New York,,N,Y.- •;. • ';' . .
, ; '.
Leather^Manufacturefs'Bank, New Ybtk; N. Y.
Tradesmen's Bank, New York, N. Y. ' i
Dry Dock Company, New York, N. Y.
Merchants'Bank, NewYork, N.YJ .
Union Bank, New York, N.. Y.
;
NationalBank,-New Yprk, N . Y ,
"
-. " ; '.
•, Merchants' Exchange Bank, New "York, N. Y,'
-Brooklyn Bank, Bropklyn, New York. ; - ..
Commercial Barik, Buffalo, NewYork.
.'.•••-• - ; .
^
Troy Bank, Troy, New York,. -.. '
.; . '. .. ;; • , ,
Trenton Banking Company,. New Jersey. . ; .
.'
.
• State *B ank, Newark, New Jersey. :
. '
... .
State Bank, Elizabethtown, New Jera.ey. .
.^ '.
'
' Girard Barik,; Philadelphia, Pennsylvania, .
Moyamensiug Bank,'PhiladelphiayP



•

;
"

'

"
'^

,

58

R E P O R T S OF T H E

[1837.

Merchants and Mariufacturers' Bank, Pittsburg, Pennsylvania,
Bank of Wilmington and Brandywine, Wilmington, Delaware.
Bank of DelaWare,.Wilmington, Delaware. .
•
Union Bank of Maiyland, Baltimore, Maiyland. "
Franklin Bank, Baltimore, Maryland.
. - ^
Bank of the Metropolis, Distiict of Columbia.
Bank of Virginia, Richmond, Virginia.
....
Farmers' Bank of Virginia, at Richmond, Virginia.
Bank of the State of North Carolinaj Raleigh,yNorth Carolina.
Planters and Mechanics' Bank, Charleston, South Carolina.
, :
Bank of Charleston, Charleston, South'Carolina.
Bank of Augusta, Georgia.
..
Branch Bank of Alabama, Mobile, Alabama. ^
'
Union Bank of Louisiana, and branches. New .Orleans, Louisiaria.
Commercial Bank, New Orleans, Louisiana."
Planters' Bank of Mississippi, and branches, Natchez, Mississippi.
Agricultural Bank, and branches, Natchez, Mississippi.
•
Union Bank of Tennessee, Nashville, Tennessee.
Planters' Bank, and branches, Nashville, Tennessee.
'
Bank of Kentucky, arid branches, LouisviUe, Kentucky.
Northern Bank of Kentucky, Lexington, and branch at Louisville,.Ky,Clinton Bank of Columbus, Ohio. ;
Frankhn Bankof Columbus, Ohio. .
\
Bank of ChiUicothe, Ohip.
^ ^ .
Frankhn Bank, Cincinnati,. Ohio. ,
.
.
Commercial Bank, Cincinnati, Ohio.
Agency of Commercial. Bank at St. Louis, Missouri. - Bank of ZanesviUe, Ohio.
. ;^
Bank of Wooster, Ohio.
Commercial Bank of Lake Erie, at Cleveland^ Ohio.
Bank of Cleveland, at Cleveland, Ohio.
,
State Bank of Indiana, Indianapohs, Indiana,
lUiriois Bank, at Shawneetown, Illinois.; *
Bank of Michigari, Detrbit, Michigan.:
,.
Farmers and Mechanics' Bank of Detroit, Michigan.
*Bank of River Raisin, Michigan. .

List ofi present Deposite Banks under the act. ofi Jurie, 1836;
People's Bank, Bangor, Maine.
, ,
.
. t Brooklyn Bank, Brooklyn, New York. .
Planters' Bank of Georgia, Savannah,-Geoigia.
Insurance Bank of Columbus, Georgia.
LoiiisviUe Savings Institution, Kentucky.
Bank.of the State of Missouri, St. Louis. • \

\
)
.
^ , ' •\
; ;' • '

* Discontinued by. its request, before the' suspension of specie payments.
fReappointed whein resumed specie payments.
. ^



1837.]

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

59

• M i; '
To Collectors ofi the Customs.

-.

,
TREASURY DEPARTMENT, Mai/12, 1837. .
If the bank where you deposite should suspend specie payments, you
will yourself collect and keep safely in your own hands the pubhc money
for all duties at your port, until further directions are given to you by this
Department how to deposite, transfer, or pay it. You must, of course,
continue to adhere to the. exi sting laws of Congress, and the former
instructions of the Treasuiy, in respect to the kind of money receivable
for customs; arid by which it is understopd to be your duty to require
paynients tb be made in, specie, or the notes of specie-paying banks that
are at par.
'
;
L E V I WOODBURY,
: / ;
Secretary ofi the Treasury.

'

;

M.2. •

Circular to Receivers ofi Puhlic Moneys.
^

-

TREASURY DEPARTMENT, May

12,

1837.

If the bank where you deposite should suspend specie payments, you
will keep in your own hands, safely, the public money you have in
possession, or may hereafter receive, till, further directions are given
to you by this Department how to deposite, transfer, or pay it, or any
portipn of it.
-, Ybu will report to this Department weekly the amount on hand.
L E V I WOODBURY,
Secretary ofi the Treasury.

. ,

"

•

'

•

:

.

.

•

•

N .

fi

•

;

Circular Instructions to Collectors • ofi the Customs and Receivers ofi Public:
. ' -•

.

,,, '

•• .
._

-'

• • /Money.,

•-\,

TREASURY D E P A R T M E N T , J^^we 9,

, '•
1837.

S I R : Shpuld all the banks in your vicinity selected.as depositories of
the public money have suspended specie payments at any time, so that
you-can no longer legally deposite iri them, as usual, to the credit ofthe
Treasurer, all publicmoneys received by you, except such sums as may
be required to meet, the current expenses of your pffice, the payment of
debenture certificatea by collectors, &c.; in other words, the sums you
would formerly have placed in bank to the credit of the Treasurer of
the United States wUl, under the present arrangements, be placed to his



60

R E P O R T S OF T H E

;

[1837.

credit, in a separate account, ori the books of your office. ^ They will be
drawn for by him in the foUowing manner, and no other:
1st. By the Treasurer's draft ori the officer having funds to his credit,.,
directing the payment; which.draft will be recorded by the Register,of
the Treasury, who will authenticate the record by his signature. . A private letter of advice will be transmitted b y t h e Treasurer in eaoh case.
2d. B y a: transfer. draft signed a.s above, and appiwcd by the sigriature pfthe Secretary of the' Treasui-y, for ^ the purpose of, transferring
funda to some other point where they rnay be required:fpr the 'service
o f t h e Government. .
;
.^
\...
- '- .-,
No deduction whatever is t o b e inade from. the. moiieys placed* by you
to the credit of the Treasurer, except in. oii.e-of these two. modes,, until
they can be lodged. by .you with sbme legal depository.
Onpaynient of any draft, the party tO; whom it is paid, will receipt it..
You will ;note on it the day of payment, wiU charge it on the'same day
to the Treasurer, and wiU. transmit it to hirn.with the. return, of his
account in Which it ia charged. In charging these paymerits it wUl be
proper to enter each draft separate.ly,,.and to.state the number and Idnd
of draft, whether transfer, or on Treasuiy, War, or Navy warrants, and
the amount.
..
,
It is also necessaiy that the Treasurer's account be closed weekly^ with
the conclusion of Saturday's business,, and: transcripts thereof forwarded
in duphcate-—one copy to the Secretaiy. of the Treasury and one to the
.Treasurer. , When the quaiter of the year terminates pn any other day
of the week, the accourit shbuld be clpsed on thelast day pf the. qua:rter,
leaving for an additibnal return the • transactions.from t h a t time t b the.
close of the Week; sofhat.neith'et the receipts nor paymerits' of differerit
quarters be included iri one return. •Punctuahty;in transmitting the
return is indispensable.
"•-• .[^
:'
;.
*
To produce uniformity in: the niamier of making the •retui:ns ofthe
Treasurer's account, a forin- is herewith transmitted. .-For. the.purpbse
of binding, it ia requested that they be made on paper pf nearly the
same size. '.Yonr mp7ithlyietunis. riiust be rendered to the Department
as heretofore.. .
* .
.
When the public money shall have accumulated in your, hands to an
amount exceeding
' doliars,you can rnake a special deposite of the
same, in your name,.for safe-keeping, in the nearest bank in which you
have heretofore, deposited the public nioney, and which wUl receive the
same, to be held by it specially subject: to the, payment' of checks or
drafts drawn by the Treasurer: of the United. .States on the bfficer by
whom the same has been deposited. .
^
.. L E V I WOODBURY,/Secrez^o^^^^

.

; . '

; ; ,

;;

. . • • : ; ; • ; . .

•'•

•••:•

;

0

/

..;

•"••;::••;:.;.'V.;.-.;

Extract firom- Treasury . Rep0't,: Apnl 22, 0 9 0 , - 1
'•

••• ;."'•;

••',-•

; ; ' \ ' ; ; ^

the /Blouse ofi.Refire-

' ../'sentatives. "'•":' •'/ ;••.-.-•'•..;• '•.•-•.:'.;'..-

" A s coririected w i t h t h e difficulties t h a t h a v e b q c u r r e d i n - t h e e x e c u ^



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

1837.]

61

tion of the laws, which is the subject of this report, the Secretaiy begs
leavcj in the last placej to mentibn the warit of; an officer in each State,
orother considerable subdivision of the United States, havirig the general
'superintendence of. all the officers of the revenue within such State or
•suchdivision.: . .
. . . . • . " .
,.. '' Ambng the incoriveniences attending it is a great difficulty iri drawing
from the ;iriore remdte. ports the' moneys which are there collected. As
the;course.bf "busiriess creates little. Or no demand at the seat bf Govern•irierit, br ,in its-vicinity,'for drafts upon such places, riegotiations in this"Way are; either very dilatory or impracticable; neither does the circulatibn-of barik pai3erj. frorri the sanie. caiise, extend to them. . This embarrassmerit Would he remedied by havirig one person in each State, or iri
a -district of the tJnited States of convenierit extent,^ charged with the ^
rebeipt of all thp mpneys-aiising within it, and .placed, in point of residence, where there was the greatest intercburse with the sbatof Goverrimbrit. ; .TKa would.greatly facilitate negotiations betweenthe Treasuiy
land distarit parts of the UnioriJ and would contribute to lessening the
necessity of the trkrispbrtation of specie.''

' S T A T E M E N T ofi the numher,and amouni ofi Warrants drawn on the
United States Bank and./• Branches j and the other Banks which were
.depositories ofi the puhlic moneys, during the year ending Decemher 3 l ,

'-

.,-\-/

• ' • • E A S T E R N .ST A T E S .

•. :•
-•

•

..' ' : /

' •-

Pkce. V :•

..

-

: No; .of -warrants /

iPprtlarid; .:^.^.... . ^^ . . V - . . ; ^ - - . - - - ^
. 76
Pbftsfnbuth . . ^ . : . ^ . . - : . : . . . . . : , . . . . . . • , 48
OBostori.1:. . . . • - . ' - . v . . . - - - . . ' - - - - - . . ^
•296
Salprii . . : \ . . . . . . ' . ' - - . ' . ^ . . . 1... ^ - . . ^ - V . 1 6 :
Providence ;. w ^..^^•^^:-... .^^^-^ ^ J^..,
30. •
j N e - w p o r t . . . . . , . , . . ! ....^.. . . . i i .,--^w;-: •. ; 1 5 .•
Bristol, Rhode Island.^ . v l ; - ; - ^ - . . . . ' . . . . • • • • 1 4 , . .
Hartford . ' v . . , . , . i ; . . . . . ' . 1.......i^.;:,'
14
Middletbwri, iConnecticut:. ^ i . : . - . ^ . v
10
tefeW HaWeril:^-..'.'......:,,. ^. ifi..,^-.^. . • , ; . . . . 4 3 :• •
iBWlihgtQrivU - . . - , . . ..^ ;...... ^
,..41..
603
.—

New^Lbndpri; .i.^. ^ . . . .• ^ ^ . . . . . . . , . . .
; x ) a t n . .-»•.... . . * . . ^ . i - , . - „ , « . . . i * . - . - .




.

•

•'

••

-

-

' • : • — • ' •

^ • ' -

••

_;

^

'

•

•

•

• Amount.

$142,020 00'
. 146,7-52 00
2,610,636 00
. 56,960 00
.• 86,635 00
16,724 00
43,372 00129,499 00
2,215 00
. . -64,328 00
78,885 00
$3,337,026 00 1
1
• "•
1
; . • — ,-

R E P O i l T S OF T H E

62

-.

..

0

-'

[1837.

•

STATEMENT P—Continued.

MIDDLE STATES..
Place.

No. of "warrants.

New York . .
Utica - - - . J .
Buffalo-....
Philadelphia
Harrisburg..
Pittsburg....
Baltimore . . .
Washington.
Georgetown.
Alexandria,.

Amount..

874
13
21
4381
76
237
'1,45-8
1
10

$6,275,628 00
8,278 00
• 9,490 00
5,156,461 00
8 00
'88,978' O
Q
689,328 00
4,163,631 00
60,000.00
: '2,041 00

3,129

$16,453,843 00

Albany
Newcastle
SOUTHERN STATES.

Richmond
Norfolk...................
Petersburg.
•..
...
Fayetteville, North Carolina.
Charleston, South Carolina..
Savannah'.,.......
..-..
Augusta,........
......

75
111
4
: 44
152
63
10,

$196,358. 00
696,744 00
11,104 00
71,756 00
34.4,278 00
164,370 00
4,182 .00

459

$1,488,792^00

Fredericksburg,
Lynchburg . . . .
SOUTHW^ESTERN STATES.

Mobile .•
New Orleans.
Natchez . . . . .
NashviUe . * . ,




$540,174 00
988,551 00
151,633 00
115,931 00

425
Columbus, Mississippi

128
192
52
53

;$1,796,28& 00

1837.]

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

63

STATEMENT P—Continued.
•

W E S T E R N STATES.
No. of wairanfs.

. St. Louis . . . . . - . ' . . . - - . . . . . . - . . . . ,
. LouisviUe . . . , . . . . . . . . . . . . . . . . . . - .
/ -Lexington . . . . . .•
'•.
Cincinnati . . . . . '
Detroit...
- . ' . . - . - . ^ . . . . . . . . . . ^.
•

'

'

^

'

-

.

.

. '

'

Ill
47
13
96
116

(

•

'

•

: ' •

•

•

'

,

•

•

.

.

'

•

-,.

,

•

'

.

'

• -SUMMARY.

•

.

.

'

:

•

•

'

-

.

,

:

'

-

.

;

,

.

•

'

•

.

.

'

.

•

. •

,

•

603
3,129
459,
i
425 .•
• . •• 3 8 3

4,999
•

,$1,892,332 00

'

Eastern -States.. ..^
.........
.Middle S t a t e s . . ; . , . . . . . . • . , . . . . . . . . ,
Southei-n States ^ . . . . . . . : , . . : . . • ; . . . . . ' . .
• Southwestern States. •.,.•..
......
• Western States.-......'...'... w
'
•

.$542,291 00
•• 211,248 00
84,413 00
• 532,971 00
624,409 1)0

..

.383-

Amount.

•

Average abput .$5,000 for each warrant.
Not 1 per each day in each State.
Not 1 per each week in some States. •
About 4 each day in Washington city.
About 2 each day in New Ybrk.
Not over 1 each day elsewhere in any case.




00
00
00 1
00
00

$25,008,282 00

.

•

.

$3,377,026
16,453,843
1,488,792
1,796,289
1,892,332

•

,

•

Comparative condition ofi Deposite Banks incertain particulars iri t f ovember,: 1836, andin Mar.cli, May yJ%dy, and August, 1837.
1st Nov., 1836.

Tst Ma;r.ch, 1837.

1st M.ay, 1837.

1st July, 1837,:-

115,520,202
16,412,324
'26,662,669

p5,3l2,892.
17,^671,447
25,299,056;

^13,331,610
11,484,769
22,526,351

fl'1,429,012
10,333,914
22,430,627

58,595,195

58,283,395

47,342,730

44,193,553

-41,482,897
^4,083^6145,059,539
4,318,446-26,-573v479-

.44,827,595
26,258,412
: 3&,960;294
5,350,454
29j957-429 ^

:-37,617,-7.95
24,590,245
. 26,8.62^06
. 5,264,052
- 30,7-75-,,428 '

..31,.779,87.423,665,746
21,039,325.
5,121,444
•^30,112;970^-

141,517;522-

145,354,184'
171,287,054

125,109,526
. 154,227,992

111,719,359
139,718,823

IMMEDIATE M E A N S .
Specie
,
Notes of other banks.
' Due from other banks . . . * . . . . . . . . . .V....
IMMEDIATE LIABILITIES.
C irculation
..•....- ^ . . . . . . . . . . . . .
Due to b a n k s . . ' ; . . . . . . . . ' . . . . . : . . . ' ' . ' . ' . . . . . . . .
C Treasurer.of. the United States.
Deposites. < Public, o f f i c e r s . . . . . . . . . . . . . . . . .
,-( Private d e p o s i t e s . . . . . . . . . . i . ..•
All discounts

;

i

•l_5th-Aug., 1837.

.

P0,580,413
9,545,429
24,683,001
'44,808,843
32,626,004
25,083,891 .12,944,666
4,574,076
29;492,113

104,720^750
. 130,597,192

Condition, ofi Deposite Banks} on o f ahoutJune 15th, 1837,? in different sections ofi the] co/imtry.
^
REGION IN W H I C H SITUATED.
_New England States
i
•'New York... i.... .;..•....
,,....,
;
K. .V.
N . Jersey, Pennsylvania, Delav/are, Maryland, Dist,.Col...
Virginia, North Carolina, South Carolina,* and-Georgia.-..
Alabama j Mississippi, Louisiana, and Tennessee . . . . . . - . ' .
pther'Western States, including M i c h i g a n • . . . . . . . . . . . ' . . . ' .



Pue!by|
Dueto
Notes of
Private: .Public, Treasurer
Specie/ other banks. other bank's. other; banks. deposites. officers. ofthe U . S . Circulation.
1672,816 |1,,085,811 f 1,549,29.8 P'-,242,997
7,861,943
1,772,610 3,301,886 •9,206,289
744,557 1,393,242 .1,977,216 2,382,537
1,806,150
2,068,954 • 822,560 1,160,059
1,168,022 - 554,149 -2^604,942 . 5,675,864
1,734,815 5,830,175 3,368,293
4,174,977
10,601,936

g2,043',2il 1523,064 41,895,897 11,660,966
10,765,871 760,705 > 4,804,287 4,258,010
2,487,014 1,763,546 2,849,455 2,257,932
4,449,964 618,577 1,470,627 .6,884,459
4,520,550 1,285,391 6,-298,897 9,375,981
2,733;988 385,730 •'7,252,544 8,047,308

.8,892,463 . 22,327,979 22,337,784 27,000,598 5^3a7,Q13 24,571,707 32,484,65.6

•

•.

.

. •• •,

fi

;; ^ ^ _ . , • . ; _ • ' R .

.•

.

• . '.

. •

.

_. ^ . '

fi-.

'/ T R E A S U R E R ' S W E E K L Y S T A T E M E N T , showing the akount at Ms credit in the various Banks ofi puhlic deposite
<! and the Mint, hy the returnsreceived. to Monday, Aiigtcst 28, 1837 ,'the amount fior which drafts and' warrants have, heen issued,
p and were'then unpaid, and tM amoimt the:n remaining mthject to his
- ..

I

Date of Bank
returns.

19 Maine. Bank, Portland, M a i n e . . . . • . . ' . . . . . . . . . . . . . ' . . . . . - . ' , ' .
19 Cumberland Bank,'do. -,,clo .... . . . . . . . . . . . . . . : ; . ; I . ' . , . . ,
. . . . . ' . ' . '<,.,.
19 People's Bank, Bangor^ do
do ....-.
...i..;.;"."....'....
19 York Bank,"Saco, ^.
19 New Hampshire Bank, Portsmouth, New Hamp'shire.. '.•.".
do. .
,.' d o . . . . . \ \ ' . . ' . . : . . .
19 Commercial Bank,
do. d o . . . . . ; . . ; . V.V..
19 Portsmouth Bank, 14 •Piscataqua Bank,
'
do. •
; ' d o . . . . . i. ...'.'.•..'
21 Merrimack County Bank, Concord,'
do m ' . W . l -..;....
19 •Mechanics' Bank,
.
do. ' ' ' ' 'do ..".....'..-^.'.::
19 Merchants' Bank, Boston, Massachusetts'.'.. ..'...•,., . . \ . ,
19 Commonwealth Bank, do.
do..............'..;.....
do.,, .. d o , . . ' , . . . : . ^ . . . m , . . .*, ;
8 Emnklin Bank,
July
doV
do..........;. i,...... j..',
; August
19 Fulton Bank,
' 19 Bank of Burlington j V e r m o n t . . . . . . . . . . . . . . . ; ..".*/.; I / . , . .
5 Bank, of Windsor, W i n d s o r , Vermont.'." *"....-*...;',;.'..';,.
19 Mercantile .Bank,- Bangor j Maine . . ' - , . . • . . . . ' . . ' . - ; . ' ; . . ; . ; . ' i ^
'.28 Metropolis ( s p e c i a l ) . . . . . . . . . . . . . . . i . . . . . . i : , . ' . , , , ; . , ' ; ; . .
12 duinebaUg.Bank, Norwich, Connecticut.'....-.'. ..'.*. 1 ."^.";:,
21 Mechanics' Bank, Ne-W: Haven, do.V..''.*^,'.'.'.'.*.".'.;...,':.
19 Arcade Bank, Providence, Rhode Island....'.".'.". ..*.'.'...',"..
19 Rhode Island Union Bank, Newport, Rhode Island
19 Mechanics' and F a r m e r s ' Bank, Albany, N e w York
21 Manhattan Company, N e w Y o r k , .
do............
19 Bank'of America,
do.
do
21 M e c h a n i c s ' B a n k ,
do.
do
12 Lafayette Bank,
do.
do
21 Phoenix Bank,
do.
do.....


August

On depositee by last ' Warrants heretofore
drawn, but not yet
returns.
paid though payable.
f54,245 33
23,859 15
20,537 97
, .82 42
•-7,848 54
28,777 81

8,814 50
22,578 46
• 23,732 00
22,275 00
21,820 75
: 24,920 98
16,800 00
17,736 67
• 85 49
503 15
18,318 08
140,541 62
12,784 11
. 18,845 07
1,616 25
3,816 81
21,024 88 ^
226,880 92
429,027 16
255,044 82
39,000 00
8,438 08

135,639 58
15,250 00
-.8,000.00
82 42
- 7,848 54
20 00
8,814 50
10,148.96
8,200 00
9,700.00
21,820 75
18,236 97

-

17,736 67
• ' 85-49
: 503 15
15,150 00
. .

•

-

8,390
14,930
1,616
.
.301
21,024
•••: - .137,699
• 217,144
- 278,886
.50,000
8,438

00
00
25
55
88
97
45
66
00
08

Subject to draft, exclusive of. transfers
not entered by banks.
•;p8,605 75
8,609 15
12,537 97
. '28,757 81
12,429 50
15,532 00
12,575 00
6,684 01
16,800 00

3,168 08
140,54162
4,394 11
3,915 07
3;515 26
89,180 95
211,883 11

00

00
<l

TREASURER'S WEEKLY STATEMENT—Continued.
On deposite, by la:st
returns^

Date of Bank
returns.

August

May-;
August

July
August

July.
August

-July
AugustJuly.;.
Aiigust

26 Tradesmen's Bank, New York, New Y o r k . . . . . . . . . . . . . . . . .'.'i..
Dry Dock Company, do,.
' do..*....'.'.............'.....".
18: Merchants'. Bank, i = do.' ^
'
d p . . . . . . . V'.f..-.'...... V./l'."..
19 IJnion Bank, ; ^
: dol '
do.V.V.."...:,'.,.......'.....
19 .National Bank, .^ :
do. • ..
do'.'.. V.'. \./'..'.'.. . 1 . * . . i . . •..
19. Merchants' Exchange Bank,
do....-....'.........."...I'..'..
19: Brooklyn Bank at Broioklyn,
' do.'. l . . . V ; i . ' . ' . . . . /.'..".'...'..''
12 , Commerci al Bank at Buffalo,
do. i . . . . . . . . . . . . . ^.'.:.'..... .
*
20:
^ do.
19. Troy Bank at Troy, New York, Jersey: .I/ ., '^ , . . '.....:,.........' '..' .. .. 'I.''..''...' .. .' . .
19 Trenton Banking Company, New o . . . . . . ^ ......-' . . . . . . , . . . , . . . . . ' . ..
d
19 State Bank at Newark,,
SjtaterBank at Elizabeth,
do
i,. i . . . . . . ^'.'.'...
15 'Girard'iBank,'Philadelphia, Pennsylvania....... V..'..'......'.'.'.',.
19 Mpyamensing Bank, do.
do.......".....".'."...'....'..'.'...'.'..
19 Bknk of Dela-wrare,' at Wilmington, Delaware...'...'.".....'..'. ^'..'..
31 Union Bank of:Maryland; Baltiniore, Maryland..'..'.....:;".'.".. '.•'.
19 Kranklin Bank,. - :.- • do.
' d o . . . . .. .i.....,'."
26 Bank of the-MetroDolis,' District of Columbia..'.'.'..:. .".'T.....'.. ' i . . ;
28 Bank' of; Virginia, Richniond,.Virgihia.^y..;.'... ^ . . ; . ' . ' . . . . . . . . . . ' ; .
26 Branch Bank pf Vii-ginia at Norfolk','Virginia..: . T . . . . . . . : . ' . . . • I.'
19
Bank, of Virginia at-Richmond',
21 Fariners' Bank of Virginia at Winchester,do-. :•..,';......'....."-. 1.1
Virginia..................
29 Farmers'the;State of NortlTCarolina, Raleigh, North Carolina....
Bank of
i9 Planters.and Mechanics' Bank, Charleston, South Carolina.......
19
21 ^Bahk ofCharleston, .Charleston, South, C a i r P l i n a . . ; . . . . . . . . . . . . . . .
1 ^ Planters' Bank pf Georgia, Savannah, Georgia
9
•. •.'..... .'.•.•• •. •:«.•.••
12 Bank of Augusta, Georgia^...;.,....:. ..v. •.-.•.
12 Insurance'Bank of Columbus" at Columbus'j Georgia... •• • • • • ••«•
12 Branch Bank of.Alabama, Mobile,^Alabama....... . . . - i . . . . . . . . . . . . .
'22 Union Bank;of Louisiana.and branches. New- Orleans, Louisia.nal
5
31
5
12

Comnierciar Bank, i>few Orleans, Lo,uisia:na^ .\ . . . - . . . . ; . . . . . . . . .*.
Planters' Bank of Mississippi and branches, Natchez, Mississippi;•
Agricultiiral Bank and branches, Natchez, Mississippii... ..\'.-..',.
Union Bank of Tennessee,- NashviUe...•*....'.. ~.....,




21,000 00.
40,000. oo:
62,500 00
52-758 93
21,994 12
15,000 00
94,616 35
99,613 76
20 00
24,756 50
50,750.42.
20,000 00
249,924 35
5,521 57
2,906 67
219,283 06
60,915 19
- 2,162 83
72,426 98
174,905 76
148,467 35
7,336 88
146,030 12
50,646 78
. 60,943^23
130.065 17
37,169 52
5,035 ( d
i
1,020,856 26
586.066 05
863,956 98 "
^
895,308 67
849,065 04242,885 61

Warrants heretofore
drawn, but not yet
paid though paya.ble.
6,000 GO
20,000 00 .
52,317 17
36,030 00
1,500.00
15,000 00
5,040 00
37,775 88
20 00'
24,756 OQ;
26,044 0016,796.00
159,866 98
' 2,906 67
86,336 28
42-280 03
2,153 79:
231 50
11,565 36
46,179. 03^
7,336 88
. 59,610 00"
. 50v404 75.
' 61,737 12
75,395 65
37,169 52
5,035 00
213,932 59
54,995 16
234,178 '45,
37,716 08
170,595 00
213,897 95

Subject to draft exclusive "of transfers,
not entered by banks.
. 15,000 00.
'
20,000 ooi
10,182 83
16,728 93
20,494 12^
89,576 35
61,837 88
' 50
24,706 42
3,204 00
90,057 37
5,521 57
132,946 78
18,67-0.16
9 04
72,195 48;
163,340 40
102,288 32: 86,420 12
242 04
54,669 52'
806,923 67
531,070 89.
629,778 53
857,592 59
678,470 04
28,987 66

August

12 Planters* Bank and branches, Nashville, Tennessee.-.. . . • . • •«
19^
19;
19:
19?
19
19.
1919
19.
5
1919
21
121919
12
19
5;
12:
19
26

Bank o.f Kentucky and branches,_ Louisville, "^Kentucky.
' Louisville Sayings Institution, Kentucky.
,
• Northei-n Barik of Kientucky, Louisville, Kentucky... .^. •....
Do ^
do.
Lexington^ do*
Clinton Bank: of .Columbus, Ohip
'.
Fjanklin Bank of Columbus, Ohio
•Bank of Chillicothe, Ohio.
Franklin Bank, Cincinnati, Ohio.
^Commercial Bank, Cincinnati, O h i o . . . . . . . . . . . . " . .
.Agency of. do. at St, Louis, Missouri
Bank of Wooster, Ohio.
Commercial Bank of:Lake Erie at Cleveland, Ohio.
Bank of Cleveland, .Cleveland, Ohio
......".
Branch'of State Bank of Indiana, Indianapohs, Indiana.......
; Branch .of State Bankpf Indiana at Madison, I n d i a n a . . . . . . . i
Branch.of State Bank at New Albany, Indiana.
,
Branch of Sta.te Blarik atLa-wrenceburg, Indiana.....,
"Branch of State Bank at.Richmond, Indiana.
Illinois Bank at Sha.wneetown, IlUnois.
Bank of Michigan, Detroit, M i c h i g a n . . . . . ; . . . . . . . . . . . . . . . .
Farmers and Mechanics'Bank.of Detroit, Btlichigan.........
Mint to procure nietal for cpiniiig.

271,630 87
-60i;,112 17
85,463 34
105,231 45
51,439 82
:419 73
52,631 83
• 198,882 00#403,103 18
347,941 54
589,327 63
• 44,221 05
60,682 75:
20,097 42
11,757 97
139,375 87.
249;202 33
322^793 46
. 20,000. 00
39,795 90
621,993 22
376,057 62
835,875 00
$13,253,916 32

223,459 34
69,151 26
6,750 00
60,000 .00
389 73
16,110 27
: 142,500 .00
#33,000 00
44,590 07
257,204 10
27,250 00

48,171
531,960
78,713
105,231

53
91
34
45

60
00
00
00

30 00
36,521. 56
56^382 00
#370,103 18
303,351 47
332,123 53
16,971 05
60,682 75
6,885 90
11,127 05
139,375 87
249,202 33
322,159 38
20,000 00
38,925 30
. 417,458 22
331,347 62
833,875 00

#3,877,468 19




1837.

CO-

SI

' #9,420,644 04

13,211 52
630 92
.634 08

870
204,535
44,710
2,000

.

* In consequence of outstanding transfei- drafts between banks not yet entered-upon those returns, there is a difference between this sum and the true
aniount, whichis #9,332,068 13. 'Deducting the amount of State transfers for the, third instalment issued in favor ofthe States and unpaid, which is
#1465,575 2S; there remains in the bjank, subject to draft, the erum of #8,166,492 85..
TREASURER'S OFFICE, AugudZ^,

00

JOHN: CAMPBELL.

GO

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68,

R E P O R T S OF T H E
• V

[1837,

• s .

.

-

•• •

TREASURY DEPARTMENT, J f a y 24, 1837.
T;0 the PRESIDENT ofi the United States: .•
*
' •
S I R : In consequence of the recent suspension of specie payments by
most, of the banks in which the disbursing officers of the Government
made their deposites of pubhc money, the undersigned has deemed it
proper to take the opinion of the Attorney General on the effect of that
measure upon those deposites; and, in consequence the.reof, submits the
following recommendations to the President:,
1st. That ail those ofiicers be instructed, .by the several Departments
to. which they belong, to make theiir subsequent deposites in ,those banks
only which pay specie, if such can conveniently be resorted to for that
purpose.
<
•
2d. That in the event of there being none such, they are to'be
instructed to deposite in those banks which are wiUing to give, and do
give, such written obligation as the hgarest District Attorney of,the
United States may deem sufiicient and safe to secure the return of the
deposites punctually, when wanted, in.such kind of irioney as was placed
in said banks; and
<
^
3d. That the existing deposites of those officers, whenever not now.
in such banks, and not soon expended, be withdrawn,,and placed within.
them as far as practicable.
: . :' : : . " : : : : : . [ ' - ^
Respectfully, yours,;
: • : : : ! : - : : ; : • " : i •: ' : ; :LEW:WOOpRIJ!EtY:, .:: :
; : ; . ' ; \..Sepreiaty\ofitheTreasm:y.
Approved: M. VAN BV-R-EI^^, Fresident. ; ; : • '\ [ ], : : : • - • •/ '
Let a copy of .the above be sent to: each Departrrierit.^ - ° : . ^ •
: , : • ' . M . V A N . B U R E N ; P)-^i&7i^;

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Circular to Collectors ofi the Customs and Receivers ofi Puhlic ^Moneys.
TREASURY JDEPARTMENT, May 17, 1837i .
S I R : YOU will receive, enclosed, the blank form in whi.ch the'Treas-.
urer ofthe United States will hereafter issue his drafts in Qonveriient
sums for payments to the creditors of the Governmerit^ andfor advances
made, in pursuance of law, to disbursing ofiicers, with the signatures of
the Treasurer and Register written on its face,, for infpnnatiori ets to their
handwriting.
" •
:The warrants on which these drafts iiiay be issued will be retained
in the possession of the Treasurer; and the-drafts will be directed for
payment either to a cashier of a bank, a collector of the customs, or a
, receiver of pubhc inoneys, as the convenience ofthe service may require.'
For greater safety, notice will be given by the Treasurer to the bank,
coUector, or receiver, on whom they shaU be drawn, stating the date,



'

1887.]

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

69

number, and amount of each draft drawn on them respectively, and
also the name of the.persoji or persons in whose favor they issue.
If the.drafts on the banks be not seasonably discharged on presentment the. collectots and receivers a:re. requested to redeem, them by
receiving them in p.ayment for duties or pubhc lands, provided that
before they shaU be received by any such collector or receiver, a certifiT
cate'that they halve been propeiiy preserited to the barik, and not paid,
' shall be furnished. This certificate will be given on. the back of them
by the cashier of the bank on which they are drawn; or, on his failure
to give such" certificate, or his signature not beirig knowri of verified to
the collector and the receiver, the Treasurer of the United States, on a
return ofthe checks to him; and his being convinced, by any evidence,
that the'bank dechnes.to.pay:them in a manner satisfactory to the holder,
will. himself make- a - certificate thereon,. which will .justify the abovenamed officers in; taking them up in the manner before described.
; The drafts so received by you will iinmediatelyvbe. cancelled by a
cross with ink on their'face, and a hole cut-through the centre of -them.
Retaining a schedure.of the numbers and amount, of each, yori will theri
transmit'them, weekly, to the Treasurer of the United States; and the
officers by \y.hom they w:ere taken rip will, on their receipt by the Treasurer, obtain credits in their accounts. with . the United States for the
ariiount of such as are. correct. Yoii wiU-also return to him, weekly-,
.a statement of the gross amount of checks taken.up, and of the gross
amount of money on hand.'
': ; ' ; ' '•' ' •
: . The b.anks, on which these checks are drawn, if paying them, will be
expected to act in a' similar manner as to canceUing arid returning them
weekly to the Treasurer.
L E V I WOODBURY,
'
'
Secretary ofi the Treasury.




.70

REPORTS OF THE

[1837.

. "U.
JST A T E M E N T ofi the condition ofi the several Deposite Banks, aceordday ofi Au-

Maine Bank, at P o r t l a n d . . . . . . . . . . ' . . . . . . .
Aug. 12
Bank of Cumberland, P o r t l a n d . . ' . . . . . . . . . ] . ' . . . ' . ' .
14
Granite Bank, Augusta....,
.'... July 15
People's Bank, Bangor... . • . . . . . . . . . . . . . . . . . . . . . Aug. 15^
York Bank, S a c o . . . . . . . . . . . . . . . . . . . . . . . . . . . i . . - . ' ' - 12
Mercantile Bank, Bangor... . r . . . , . . . . . . . . . ' . . . . - . .
15
NEW HAMPSHIRE,..
Commercial Bank, P o r t s m o u t h . . . . . . . . ^ . . . . ' . . . . . .
14
Merrimack County^ Bank, C o i i c o r d . . . . . . . . . . . . . . .
15
Portsmouth Bahk, P o r t s m o u t l i . . . . . . . " . . . . . . . . ^..
1^
New Hampshire Bank, P o r t s m o u t h . . . . . . . . . . . . .
19
Piscataq-ua Bank, Portsmouth."..
:.....,..,,.
14
'Mechanics' Bank, Concord..... ..•. ~ IV ..'.•..•..;.',
,
15
.VERMONT
Bank of Burlington
.........'.............
17
Bank of Windsor
*..
....'..,..
1
MASSACHUSETTS.
M.erchants' Bank, B o . s t o n . . . . . . . . . . . . .
'.........
15
Hancock Bank, B o s t o n . ' . . . . . . . . . . . " . . . . ; . . . ! ' . . - . . . July 15
Fulton Bank, B o s t o n . . . . . . . . . . . . . . . . . . ; . . . . . . . . May 1
Franklin Bank, Boston
i June-15
Commonwealth Bank, B o s t o n . . . . . . . . . . . . . . . . . . . Aug; 16
Phcenix Bank, Charlestown
,.......'..
July 31
CONNECTICUT.
Mechanics' Bank, New Haven
Aug. 14
Farmers and Mechanics' Bank, Hartford...-,.....
20
Gluinebaug Bank, Norwich.......'..... 1 . ' . . ' ; . . . . . . ; .
15
|IH0D]E ISLAND.
15
Arcade Bank, Providence
.'-..,............
:12
,Rhode.Island IJnion Bank, N e w p o r t . . . . . . . . . . . . ' .
NEWYORK...;.,
8
Lafayette Bank, New Y o r k . . . . . . . ; . ' . . . . ' l . . . . . . .
Seventh Ward Bank, New Y o r k . . . . . . . . . . . . . . . . . July 24
Manhattan Company, New York
Aug. 16
, Bank of America, New York.
14
Leather Man .ufacturers' Bank, Ne-vy York
July 31
Mechanics and Farmers' Bank, Albany
Aug. 15
Mechanics' Bank, New York.
15
Phoenix Bank,.New York
;
16
Mer.chants' Bank, New York
.^
;
11
Tradesmen's Bank, New York
July 31
"Union Bank, New York
ug. 19
Brooklyn Bank, Brooklyn
~'.
15.
Bank of Troy, Troy.
15
Merchants'.Exchange Bank, New York..
',...
1
National Bank,New Y o r k . . . V
;............'
15
NEWJERSEY
Trenton Banking-Company, Trenton .15
State Btmk; at Newark
17
State Bank, at Elizabethtown
July :31
PENNSYLVANIA
Girard Bank, at Philadelphia.
i....
29
Moyamensing Bank, Philadelphia
. ^ . . . . . . . . . v Aug. 9
:.
Merchants and Manufacturers' Bank, Pittsburg...
9
DELAWARE
Bank of Delaware, W i l m i n g t o n . . . . . . . . . . . . . . . . . . July 1
Franklin Bank, Baltimore.
. . ; ' . . . . - . . . . . ' . . . ; . Aug. 14 •
MARYLAND
Union Bank, of Maryland, B a l t i m o r e . . . . . . ' . . . . . .
21
DISTRICT OF COLUMBIA Bank of the Metropohs, VVashington
i
15
VIRGINIA.......;
Bank of Virginia and branches.
;
15
Farmers' Bank of Virginia, Richmond
17
Branch of ditto, at Winchester.'...".
, July 15
NORTH C A R O L I N A . . . . . . Bank of the State, at Raleigh
22
.' i...'.
SOUTH C A R O L I N A . . . . . . . Planters and Mechanics'iBank |of S. C , Charleston Aug. 11
Bank of Charleston/.Charleston
....":.
15
GEORGIA
Bank of Augusta.'....-..
Planters' Bank of the State, Savannah '.:.
MAINE




1837.]

SECRETARY OF THE TREASURY.
..'

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71

• U.

ing to .returns received at the.Treasury Departmeiit, on or near the 15th
.gust, 1S37,• • ,
Loans and discounts

Suspended debt.

. Bills of exchange.

Stocks.

. $108,931 00 J
.$318,100: - 3 1 ; , .
; " 353,06"4''69
.•:7.4.,309 70> S ' " .. «' .• : ' ; " .'
'
' • .- . '"94,221 55.
- 4i,076 67
. . : 85,894 88
fi',.. .;.3'6,071 92
! $6,831 31
- .;
136,822.66 '
\ - 653 25
* 1
. ' i08,802'54
" 18;858'30'
257,275 26
.,. •
7,766 89' •
134,396^3.
570 41
114,0"51 50'
7.,699 6.3.
" •
163,98447"
, 2,853 47
. -. •9,488 81 '
$8,919 47
494;992'93' " • _ . . : ' 181,178 3Q :
• 22,599 16
4,200 00
ii5,09'4 73 , '
16,985 00
138,323 "6'7 '
'93,885 33
r
.•.8,971 5^ . . .
126,795 33- •
. ' . ''•4,260 00
1,43.9,586 01 •' •••• \-;783,825 34 •/••
953,008 09 ^
^•32,754 62
-Il,8i3 00 •
-' ••• , •762,851 87 ^ : ; :
110,320 81
' 289,60& 13
1,002,788 04 .' ; •
" '14,800'.00
.^
. ; 12,000 00
443,9.46 51 "
'-" 15,308 96^ .
• rV
'•
256,079 60 / - ' " / .87,600'15 . .
,
210,000 00
378,307 27
159,205 33 .
.'39,030 0 0 *
. - . \ , 486,:432ll '
57,133 91
'. ,32,600 04
37,700 00
. - 364,811 39
86;700-l5
11,100:00 ..
;
• 140,256 • 63':
' ., 23,735 49 .i
2,i39 31
26,190 00
866,59r47>
; 842,186 49 ^
3,820,523.05
-'
212,315 48 '
.- , • 3,755,922 75
• , . .196,500 00 • :
110,789 2 8 ,
15,000 00
, 1,185,104 63
733,40856; 1
^04,260.2^ .
...
. 3,666,808^ 89
j
.
1,207,190 37 '
.--. • 2,234,180 97
3,409,596 0 0 " 1
. 121,182 60
. . . . ^^^ .
. ' ^ 807,ii4 55 1
8,9.75 36
2,296,69a 85 ' "]
• ;
.51,611 62
287,597 45 •
;110,483 64
939,660 64 " ' • V w •• / ' • '
54,544 41
'
••
.' - ~ .
1,576,541 07 V '. ' *'• .fi._-'• : _
.
-,.
791.861,246,270 02
35,571 27
^
441,952 00 '
9,83^ 00
. - 25,820 00
397,852.66
' 140 00
• 24,308 97 •.
" 272,603 27
•; • •22,650 00•:. • 722 70
6,628,950 28 * " " ' • / . 481,207 89
534,310, 35
108,328 99
• 452,854 86
; 1,151 26
1,247,524 99
;378,32i;i.3 5,352 04
• 301,910 34
6,385.98/
' 81 ,,335 17
. , 954,086 31 ' :
; 132,754 33;
. 9,67404' ,
198,991 43
2,254,194 76. >
'•
•'•407,864;'78 • • I
162,315 56
.
^ 759,472 72
;, ' 1,125,577 65
187,825 15 .
12,383 03
. • 16,800 00
5,689;i62'26 .' : . ' 872,940 67
1,202,865 84 ^
368,181 56
i,86'4;455 34' V- •• ^ ' 3.6b,-749'77 .
63,097 58 "
•' 4,900 00
*253,505'03:'
.
135,500 00.
' •2,381,339 53 '
.; ' '311,405 80
L .
309,499 17
- 1,844,461 .67 ' ' • . •
14,901 31 :
• .• ,172,482 .8;6.,
• 282,350 45 '
'
2,680,569 39 . •
666,612 59^ .
343J98 37 •
'2,500.00
':
1,049,841 88 ••
172,174 88 .- K -:• -.'255,768 29! . . . L :. 87,960 00
" 783;-845'.4l ' • [ " " \ V '88,496 02 .. r • •'135,284 92
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REPORTS OF THE

•72

pS37c
STATEMENT U

MAINE.

N E W HAMPSHIRE..

VERMONT..:.......
MASS.ACHUSETTS.

CONNECTICUT..
RHODE INLAND . . .
NEWYORK....;...

NEWJERSEY

>....

PENNSYLVANIA
DELAWARE.
MARYLAND..............
DISTRICT OF C O L U M B I A !

VIRGINIA....

....;

NORTH CAROLINA......:
SOUTH C A R O L I N A . . . . . . .
GEORGIA........




Maine Bank,-at Portland;
. . . - . . • . . . . . . . . . . . Aug. 12
Bank of Cumberland, Portland
.•..
14
.Granite Bank, Augusta.'.....:..-..
July 15
People's Bank, B a n g o r . . . . . . . . . . . . . . . . . . . . . % ..".... Aug.-15
York Bank, Saco:
. . , , . i \ ..•./•',
12.
Mercantile Bank-, Bangor,
15
Commercial Bank, Portsmouth . . . . . . . . . . . . . . . . . . . . .
14
Merrimack County Bank, Conco'rd........;.,.... .y...'.
15
Portsmouth B a n k , - P o r t s m o u t h . . . . . . . . . . . . . . : . . . . . :
12
- New Hampshire Bank, Portsmouth
,
19
•Piscataq-ua Bank, Portsmouth
.-..-.....
14
Mechanics' Bank, Concord
15
17
Bank of B u r l i n g t o n . . . . ' . . . : . . . . . . . . . . . . i . ; . * . . . . . . .
1
Bank of Windsor
. . ; . . . . . .^......;
Merchants'-Bank,' B o s t o n . . ' . . . - . . . . : . . . . . . . . . . . . . . . . .
15
Hancock :Bank, Boston
July 15>
Fulton. Bank, Boston.
. . . . . . . . . . - . ; . . . . . . : May 1
Fr.anklin Bank^ .Boston.
June 15
Commoiiwfealth Bank, Boston
Aug. 16
Phoenix Bank Charlestown.....,
......:.... July 31
Mechanics' Bank,^ N e w ' H a v e n . . . . . . . . . . . . . . . ' . ; . . . Aug. 14 .
Farmers and -Me'chanics,' Bank, Hartford . f i . . . . ; . ; . .
20
duinebaiig Bank, Norwich.........-.
'.............
. 15
Arcade Ban.k, Providence
.,.............:.
- 15
.
Rhode Island Union Bank, Newport..-.
.,.
12
Lafayette Bank, New York i
.........;....
. 8
.
Seventh Ward Bank, New Y o r k . . . . . . . . . ' . . . . . . . . . . . July 24
Manhattan Conipany, New York
; . . . . - . . . . ; . . Aug. 16
Bank of America, New Yoi:k.;...:....... .'.....;•......
. 14
Leather Manufacturers' Bank, New Yo rk..•.-;;...... July 31
Mechanics an d. Farm ers'.Bank, ^Albany.......-..... Aug. 15
Mechanics'-Bank, Ne^w.York..... i . . . . . . .j.;.;.'.".'-.
15
^Phoenix: iBank, (New Y o r k . . . . . . . . ' . . . . . , . . . . . ' . . . . . . . .
16
Merchants' Bank, New York
.".,...;...,...;.
11
Tradesmen's Bank, Ne-vv York...
.,... July 31'
Union'Banki New Y o r k . . . . . . ' . - . . . . . . . . . . . . . . . . . . Aug. 19
Brooklyn Bank, Brooklyn
,...........
.15
Bank of Troy, Troy J
.-.. • . . . . . . - .
15
Merchants'^Exchange Bank, New Y o r k . . . . . . ; . . , . .
1
National Bank, New Y o r k . . . , ,
.\ . . . . . . .
15
Trenton,-Banking Company, Trenton..;.......;..;...
15
•State Bank', a t / N e w a r k . . . . . i
17
State-Bank, at EHzabethtown".
i . i . . . ' . . July 31
-Girard Bank, at Philadelphia..... . . . . . . . - . . . - . , . . • . . .
'29
Moyamensing Bank, .Philadelphia .... i . . . . . . . ; . - . . . . Aug. 9
'IVTerchants arid Manufacturers' Bank, Pi ttsburg... l.
9
Bank of Delaware i* Wilmington . . . . . . ^ . . . . . . . . . . . .July .
1
Franklin Bank of Baltimore. \ . . . . . . • . » . . . . . . . . . . . .> Aug. 14
.Union Bank of Maryland, B a l t i m o r e . . . . . . . . . . . . . .
21.
Bank of the Metropohs, Washington."......... i%.•.'.'.
15
Bank of Virginia and branches . . . . . . . . . . . . . . . . . . . . .
15
17
Farmers' Bank of Virginia, Richmond..'...... it....
Branch of. ditto, at -Winchester....'
, . . . . ' . . . . . July 15:
22
Bank of the'State, at Raleigh.
.-,... i . . ••
Planters and Mechanics' Bahk of S. C;, ''Chai-leston.. Aug, 11
15
Bank'of Charleston, Charleston..,..-....-.'.,...... i . . .
8
Bank of-Augusta......-/;...../......;...'.
.-..
'8
^
Planters' Bank ofthe State, Savannah..^."........-.

1837.]:

SECRETARY OF THE TREASURY.

—Contmued.

73

• .

. Other
Real estate.- ~ , investments.

. Expenses. .'.

'.::'.::..fi..''"'

Balances due
from banks.

Notes bf other
banks on hand.

$33,807 69
$8,889 00
'4,129 26 .
. 24,488 35 •
•'-$5',882-2528,094 53
36,669 00
-•
597 56 ,
5,698 69
•
.2,063 00 ;
.4,427 62 V • - - ' $147.48:
255 35
31,118 03
85> 00
*-'-.•_ r
:'
12,000 00
585-08 . • . 46,244 41 .
1,790 00
3,530 91
^ 101,690 68
16,618 45
4,67165"
> • - 866 15^
55,087 61
4,911 00
V . 5,616 93
38,749 85
-- .2,705 23
- •
8,979 12
. ' • 37 66 :
14,413 66
6i835 00
)• . < 4i5 33 '
38,903 26
• ..
5,303 39
• 1,465 98
••'//-. 10-56
;.30 50
.37,802 76
3,357 00
• .
500 00 .
' . 1,005 83
; • 48,875 2 0 '
5,353 28
4,000 00 •
17,765 12
.5;020 00- '.
V 110,000:0.05,09191'
.506,653 46
256,589 00
• 2,075:00
^ 54,289 65
200,491 00
3,593.88
39,649 41 •
• 172,726 00.
-. .• .,..
23,873 86
89 32
V42,570.64
2,250 88
•9,273 00
. 238,000 00
280,090 2 3 "
:^ .5,000 00
• 2,425 83
• 21,145 36
10,387 00
^ . 8;625'17 •'• 4-7,578" 2L
8,383 00 '
. • • •. 15,903 59
14,769 41 - : - 13,959 84
1,920 94
'..' '43,987 09
16,780 00
. 12,937^ 17 ;' ^3,107-47
• ; -. 805 98
^ 25,969 04
4,281 11
• •' 188-06 .
• • "50,156 29
9,470 00
. _ .,.-... ..,
• 18,798,66>
* . 4 64
23,907.48
' 1,718 00
.8,700 00 • :- -5,416.67:
. ' 2 , 7 9 9 27
65,416 62
35,735 41
: .6;i05 00
-18,227 10 :
• 6,625 75.
:
170,622 31
38,910 84
. .390,534 48 ., • 417',270 46 .
975,836.45
438,813 17 .
. -113,467; 19 '. 2,696,185 71 '. : 4,544 91
1,264,143 19
343,532 89
•
16,961 54^
. , 447,445 84271,296 19
: .. . . . ;
_
20.000 00
' ' 303,709 13
622 85
- .161,309.63
i51,798 00
71,569 90
: ' '•54-,727'-54".' • * 24,422 28
.' 9.52,613 00
342,063 00
\ 63,542 45'
; v-84;346. 08
6,149.06
1,845,521 14
370,700 25
' :44,207:'00 * :
-35,479 00
5,226V.00
2,699,870 00
846,179 00
. ; 24,000-00
-11,000-00
.497 67
•97,434 80
39,580 50
32,106.10' •
"29,347 22
• 6,081 78 •
508,337 31
399,769 75
. ' 11,265-10'
'.
'4,1,75 00 •
, . 5,570 74-'
21,452 70
'.--_.
• 12,000 00- • 1 3 , 2 0 0 00 . ' .
300 15
. - 45,143 86
47,572 30
20,376 18-• -V-19,941^78;. • ^"..r,428,02 • • ^378,202 12
454,520 35
.29,637-67. -.. :20,634 06
. 6,456 35
677,034 22 ^ '
. • 159,938 68 .
.5,141 00
32,221 00
31,918 00
10,075 67
• .1,254 01
60,493 05
57,491 32
;,
14,776 00"
- '1,494 2.3"
24,543 99
6,220 00
-. '676,654 79
7,425.36
1,138,620 48
264,914 14
16,172^00
, 3,131 82
50,251 16
39,085 00
• . 4,708 72 •
565,615 64192,124 00
27,723 64
351 00
• ^. 27,606 88
• •
7,326 19
- ' 6,665 42'.'
^ ; 42,874:93-:
7,281 60,
114,225 40
160,636 96
• ' : 27,850 12
' 152,366' 95
. 2,856 49
; 400,699 05
'
281,398 89
.. 27,028'84- .'
3,170 1 7 '
659 05
. 179,5991 00
'
172,569 57
. 303,565'25 '. •• 399,710 69
9,780 85
687,898 70
134,020 06
.• 91,330 8 1 - < 23.6,449-82
; 1,520 07
/ 26,206 46
99,486 73
22,490-18 .
63,503 15
15,733 15
" '' . ; ;35,311 13
• 3,951 78
~ - 308,770 48
•
78,507 00
: ,20,000 00 • 26,205 6 5 ^
• a,056 75 .
118,584 25
68,763 00
.'^ 30,000 GO.'
• ^75,608 2 3 - - :='1,674 75
4.72,492 46
57^483 00
.
22,330 37.
38,000-00
4,583 57,
.168,745 81 .
214,125 50
' 11,000 00
58,268 4^4
':2,692 07
18^,831 61
136,820 00
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REPORTS OF THE

74

[1837.
STATEMENT U

Names arid location-of. Banks.

STATES.

MAINE.

NEW HAMPSHIRE.....

VERMONT............. •
MASSACHUSETTS....;

CONNECTICUT.
RHODE I S L A N D , . . . , . . .
NEWYORK

NEW JERSEY...........
PENNSYLVANIA . . . . .\.
DELAWARE...
..,
jMARYLAND......,,...;.;
DISTRICT OF COLUMBIA.
VIRGINIA,..^...,..,;.;.;.
NORTH CAROLINA..
SOUTH CAROLINA..
GEORGIA.....

.\,




Date of I
return.

Maine Bank, at Portland .,
Aug. 12 '
Bank of Cumberland, P o r t l a n d . . . . . . . . . : . . . . . . . . . .
14
-Granite ;Bank', A u g u s t a . . . . . . . . . . . . . . . . . . . . . . , - . . . . IJuly 15.
People's Bank, Bangor
...'.....,....... Aug. .15
York Bank, ^aco
.-.............1...
12
Mercantile Bank, Bangor... i . ^ . . . . . . . . . . . . . . . . . . , , . .
15
Commercial .Bank', P o r t s m o u t h . . . . . . . . . . . . . . . . . .
14
Merrimack .County Bank, C o n c o r d . . . . . . . . . . . . . . . .
15
Portsmouth Bank, Portsniouth..........,..;. .>.:.".
12.
New Hampshire Bank, PortsmojitKl
,...,;. .•
19i
Piscataq-ua Bank, P o r t s m o u t h . . ; . . . . . . . . . . . . . . . -..
14
Mechariics' .Bank, C o n c o r d . . . . . . . . . . . . . . . . . . . . .
15
17
Barik of ^Burlington....... .>... > . . . . . . , . . . . . . . . . . ,
1
.Bank of Windsor,. . ^ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Merchants' Bank, Boston,........_
15
Hancock Bank, Boston.... ^ . . . . . . . . . . . . . . . . . . . . . , iJ.uIy 15
Fulton Bank, -Boston
'»• •.• !• • • •. • May 1^
Franklin Bank', Boston
. > . . . . . . . , . . . . . . i.. I June 15Commonwealth Bank, B o s t o n . . . . . . . , . . . . . : . . . . . . . . Aug. 16Phoenix Bank, Charlestown
.,-.......,..'..... [July 31
Mechanics' Bank, New H a v e n - . , . . . . . . . . . . . . . ; ^ . . . ' , Aug. 14
Farmers and Mechanics'.Bank, Hartford.. ,..•. •...".
20
duinebaug iBank, Norwich...'..,............ .> ».,...
. 15
Arcade Bank, Providence.......,. ^ . . . . . . . . . . . ...^...
15
Rhode Island Union Bank, Newporjt.......•.'...'..
12
Lafayette Bank, New York
.......'..'.....,.... I
8.
Seventh Ward Bank, New York,. • . . . . . . ; . . ; . . . . . . July 24
Manhattan-Company, New Y o r k . . . . . . . . . . . . . . . . Aug. 16
iBank of America, New York...... • » . . . . . . . . . . . . . . .
. -14
Leather Manufacturers' iBank, New Y o r k . . . . . > . . . . July 31
Mechanics and.Farmers' Bank, Albany. ...f...,:.. Aug. 15
Mechanics' Barik, New York.
....•.• r' \ .15Phoenix Bank,,New Y o r k , . . . . . . . . . VV... .<..'... i.
. 16
Merchants' Bank, New York;.
*...-..,..,.. 1
11
Tradesmen's'Barik, Ne-w. Y o r k ; , . . ; . . . , . . . . . , . . . , V... Jul-y< 31
Union Bank, New York..;..-. t . . . . , . . . . i......T..'. Aug. 19
Brooklyn Bank,.Brooklyn;.......... . , i . . . . . . . . . . . . . . . .
15
iBank of Troy, Troy . ^ . . . . . . . . . . . ; . . . . . . . . . . . . . . . . . .
15
Merchants' Exchange Bank,^New York!.'....\.'...'.
1.
National Bank, Ne-w York..,...,.'...,-.....'.,..,.:. i..
15^
Trenton Banking "Company, Trentpn,..-..'.......;,
15
State.Bank, at N e w a r k . . . . ) , . . . - . . • . . . . . . . ' . ' . . . . , , I
17"
State Bank, at EHzabethtown.?.........;.,. ;..,....-. July 31
Girard ]§ank, at Philadelphia..-..";.,.:...:.. ..> ...-.'. •. 29.
Moyamensing Bank, Philadelphia...,... * . . . . . . . . . . . Aug. 9
Merchants and Manufacturers' Bank, Pittsburg, i . .
•• - 9
Bank of Delaware, Wilmington. ...^..,......:. i . . . . July .1
Franldin Bank of Bal timo re; . v . . . . . . . . . ' . . . . . . ' . . . : . ; Aug. 14
ITnion Bank of Maryland,' JBaltimore...... i....;...
21
Bank of the Metropqlis, Washington. ;......'..........
. 15
Bank of Virginia and branches ..,"..'.........;. -.....;.
' 15
Farmers' Bank of Virginia, Riciiriiqnd.,...,.. i..,'..^. .
17
Branch pf ditto, at Winchester . ' . V . . . . . . . . . . . . . ' . i*.'. July 15
Bank of the State, at Raleigh.;. v . . . . . . . . . . . . . . . . .>
22"
ipianters and Mechanics'Bank of S; C.., Charleston.- Aug. 11
Bank of Charleston, Charlestori. A . . . . . . . . , . . . . . . , .
15
•Bank of A u g u s t a , , . . . . . . . . . . i . . , . . . i , . . . . . . . . . ; . , ' / ,
iPlanters-^Bank ofthe State, Savannah.........";.'...

I

1837.]

SECRETARY OF THE TREASURY.

'75

r—:Oontin.ued.
DEPOSITES.

Specie on hand.

Circulation.
Treasurer'ofthe
UnitedStates.

All other
depositors.

Public officers.

- $18,476 3 1 ^
. $28,417 00
$60,168 46
$54,366 16
,. 417,163 96
• 30,688 3 a
-107,680 .00'
29,949 15 .
53,279 33
•
47,600 0 0 .
'3,420 00
69,532 33
16,091" 65
•-.•'12,516 36
20,537 97
4,216 11
11,418 00
''.;i2,907i2
•• '82 4 2 '•
••
35,548 13
• "44,076 00
54,520 00
4,902 42
15,168 68
-18,318 08 :
12,625-29
45,842 73 •
80,738-00
28,.797 81
. 50,608 29
' 12,773 48
23,732 0 0
4,143 34
47,681 63 •
8,443 26- 19,459 00 '• •
35,438 00
• 28,299 85
7,697 97
"8,814 50 •
." 26,821 78
8,012 07
40,658 00
• 7,848 "54
32,521 61
:118,984 00 '
'28,779 28
'22,578 "46
7,850 82- • 49,948 00
9,916 26
22,275 00 ^
21,597 62
36,760 16
. 22,291 95 •
92,225 00 '
• '85 49 '
46,773 00
28,606 13
12,970 09
1,558 09
503 .15.
'
45,857 45 ,
:
211,272,00 , . . -26,820 75
162,434 16
^ 163,078 1 1 362,126 81
71,090 65
14,362 5 0 '
, 131,752 00
• •4;884 49 .
223,730 80
60,052 25
- 118,-489 00 •
172,355 .68
..
71,652 96
-38,053 7 6 • • 102,871 50
.
- 54,000.00
.
i O , ^ 98
100,985 65
483,053 50
• 203,965 00
24,920 98
^
1
11,612 93
93,199 13
- 8,099 62 . . 83,164 00
58,652 38
3,444 00
35,170 40;
62,345 00
21,855 . .
07
• 58,293 97
'108,895 18^-'
•
•29V450 8 7 42,802 00
43,679 55
8,003 68 V ••' 55,570 00 :
12,784 11
43,942 41
' - ..43,858 75
42,980 00
: 40,295 71 ,
" 1,616 25 :
20,571 14
13,227 82
24,144 OQ
^ 3,816 8i
.40,000 00, ^
142,999 37
' 109,480 00 .. • 49,000 00 .
42,919 44
'
235,504 56
66,765. 00
77,569 23. •
35,508 05
131,011 84
' 2,409,511 72
^ 209,370 71--' , 426,665 92
239,127,39 ^
.613,931 68
42^,419 00;^
^ 240,434 02
461,377 16
•' 1,203,545 88
' 78,628 07 560,639 34
139,265 00
72,089 29,
' 70,979 07
34,871 84
224,559 69
164,683 00
^21,310 28
- 43,209 00 '
1,796,238 33
"417,177 00
314^861 42 .
828,249 10
151,890 20
382,537 23
• • 8,438 p a "
1,361,276 00
42,616.001,773 00
753,987 00
64,566 00 .
,
302,745 04
33,214-58
- 36,987 05.,
, 40,388 00
' 443,052 38
880,705 32
, 124,705 80
52,750 93
,•
3,003 18
84,742 16
4,920 10
22,256 00 . .
94,616 35
33,775 51
85,306 88
^ 18,264 20
87,184 11
40 00
487,571 44
-. 28,528.21
54,612 73
171,558 00
.6,000 00
775,136 59
22,734 12.
'76,933 37
285,555 00,
49,050 00
41,761 00
37,910 00 :
,
-29,756 00
124,355 00 .
50,822 78
• •38,59"5 00
' . 7,745 94
55,750 42: •
• 44,854 79
42,970 28
' 18,651 40' .
36,566 00 .
.25,000,^00
• ._
441,038 87
659,841 89
230,714 36^^
777,-474^ 69 :
'319,183 75
105,121 24
80,712 56
59,622 91
92,930 00
5:>52157
433,743 92
145,708 25
177,564 90 - - 477,400.00
92,492 98
- 26,111 88
34,815 50
141,736 50
'. "29,597 65
320,617 20
iS3,428 20 .
250,947 00'
97,092 03
1,241,035 70
79,261 23
237,640 00 • ' 219,283 06
.>75,7()8 75 •
. 152,062 64
• 481,599 28
• 364,920 26
. 44,418 49
. 2,132 96
1,393,541 06
162,246 82 '
426,429-76 2,812,088 31
''. 395,066 64
' 433,628 85
155,i;98 45 • , N 516,711 00' . ' 148,467'35
13,181 04
6,918 00
225,270 00
15,157 16
, • 7,386 88
•
585,210 53
.
25,316 82
'168,548 12- 509,477 63
1,291,550 00
138,576 59
• 308,693 61
244,637 21
• -731,325 00
• 50,404 74 •
2,931 50
'
722,544 79
1,112,485 00
60,943 23
241,0.45 73
, ^ 20,696 83.
138,199 02
37,169-52
• 201,281 08
604,138 96
134,224 90
202,726 59
. - ^^66,565 17 .
260,142 00
293,550-59 i




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REPORTS OF THE

7.6

[1837.
STATEMENT

STATES.

Names and'location of Banks.

U

Date df
Return/

Maine :Bank at P o r t l a n d . . . . . . . , . . . . . . ' . . . . . . • . . . . . . . Aug. 12
14
Bank of Cumberland, Portland ,
..;..,...'...'. '
Granite Barik, Augusta.
. . . ; . . . . . . . . ; . . July 15
People's Blank, B a r i g p r . . . . . . . . . . . . . . . . . . . . . . . . ; . . ' . Aug. 15
12
York'Bank, Saco . . - . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ; .
15
Mercantile Bank, Bangor..... . • / . . . . , . . ' . . ^ . , . - . . . .
14
Commercial Bank, Portsmouth.
i. i....... .•
N E W HAMPSHIRE.
15
Merrimack County Bank, Concord'.
12
Portsmouth Bank, P o r t s m o u t h . . . . . : . . ' . . ; . . . . . . . ; . . .
19
New Hampshire Bank, P o r t s m o u t h . . . . . . . . . . . . . . . .
. 14
Piscataq-ua Bank,-Portsmoi^h:•.-:'..;;; . , . . ! . . ; . . • • .
15
Mechanics' Bank, Concord . . . . . . 1 . . . . . . . . . . . . . . . . .
17
Bank of Burhngton....:
'....;.
VERMONT....'
1
Bank of Windsor;
;.... .."7..........".,........
i5
Merchants' Bank, Boston.'......; ; . . . ; . . . : . . ^ . . ; . .
MASSACHUSETTS.
Hancock Bank,.Boston.... b . . . . - ; . . . . . . . . . . . . . . . . . July 15
Fulton Bank, B o s t o n . " . . . . ; . . . . . . . . . . . . ; . . . . . ^ . . . . ' . May 1
Franklin Bank, Boston... 1 . . . . . . . . . . . . ; . . . . June 15
Commonwealth Bank, Boston.
.,.. Aug. 16
Phoenix Bank, Charlestown. ; . . ; . . . - ; . . . . . . . ' . . . . . . • July 31
Mechanics^'Bank, New H a v e n . . . . . . . . ' . . . . . . ' . . . .- Aug. 14
CONNECTICUT..
Farmers and Mechanics' Bank, Hartford....... - . , . • 20
- 15
Quinebaug Bank, Norwich
15
RHODE I S L A N D . , . . .
A reade'Bank,. Pro-v^idencie. . . • ; . . . - . . . . . . . . . . . . . • . - . . . . .
12
Rhode Island Union Bank, Newport.
•..,.....
N E W YORK..
Lafayfette Bank, New Y o r k . . . . . •...;
Seventh-Ward Bank, New* Y o r k . . . . . " . . . ,
. ; . July 24
Aug. 16
Manhattan Company, New York..^ 14
Bank of Anierica, New York.
Leather Manufacturers' JBank j New Y o r k . . . . . . . " . . , July 31
Aug. 15
Mechanics and- Farmers' Banlc, Albany
15
-Mechanics' Bank, Ne-vy Y o r k ; . . , . . . . . . . . . . . . . . . . . .
' 16
Phoenix Bank, New Y o r k . . . . . . . . . ' . . . . . . . . . . . . . . . . '
11
Merchants' Bank, New York,
'
:.........,
Tradesmen's Bank, New Y o r k . . . . . . . . . . . . . . . . .^... July 31
Union Bank, New York..
; . . Aug. 19
15
Brooklyn' Bank, Brooklyn ,.....* i•;..
.....'..
Bank of Troy, Troy..-.
.'.'. .••........ ; 15
1
Merchants' Exchange Bank, New York........-.....".
15
National Bank, New Y o r k . . . . . . . , • . . . . . . . .•..•..."..
.15
NEW, JERSEY....
Trenton-Bariking Company, T r e n t o n . . . . . . . . ; . . . . .
17
State Bank, at Newark .....;.".
State Bank, at E l i z a b e t h t o w n . . . ; . . . . . . : . . . . . . . . . . . . ' July 31
• 29
Girard Bank, at Philadelphia......"..............-. •..
PENNSYLVANIA.
Moyamensing Bank, Philadelphia . *
i Aug. 9
. 9
Merchefnts and Manufacturers' Bank, Pittsburg .-...
'Bank of Delaware, Wilmington . . . . . ; . . . . . . . . . . . . . July 1
DELAWARE.
Frariklin.Bank of Baltimore....:,;.
.-... Aug. .14
MARYLAND,
21
Union Bank of Maryland, B a l t i m o r e . . . . . . . . . . . . . . .
15
DISTRICT OF COLUMBIA Barik of the Metropolis, W a s h i n g t o n , . . . . . . . . . . . . . . .
K15
Bank of Virginia and branches...
VIRGINIA......
17.
Farmers'^Bank of Virginia....".....-.,...............
Branch of ditto,' a t j i y ^ i h c h e s t e r . . . . . . . . . . . . . . . . . . . .' July 15
22
NORTH CAROLINA..
Bank pf the State, at Raleigh. .•
.^.....'......'...
Planters and Mechanics' Bank of S. C., Charleston. Aug. 11
SOUTH CAROLINA...
15
Bank ofCharleston, C h a r l e s t o n . . . . . . . . . . , . . . ; . . . . .
• 8
GEORGIA..
. . . . . : . . ; . . • Bank of A u g u s t a / . . . . . . . . . — . . . . . . . . . . . . . . . . . .•..
' S
Planters' .Bank of the State, S a v a n r i a h . . . . . . . . . . . ' . .
MAINE.




1837,]

SECRETARY. OF THE TREASURY.

77

-^Continued.

Balance due to.
Other liabilities. ,, Capitalstock.
Banks.

- $7,722 75 •
2,506 00
.
6 37

Profit and loss, discount and- interest.

Contingent fund.

$16,284 30
$305,000'00,
250,000 00
. "8,557 51
100,000 00
1,476 95
" . '.
^
• ' -.8,979 56.
100,000 00
4,468 08
° 100,000 00
• 6,709 96
; . 5,446 11
• 100,000 00
2,550 33
- .
- 119. 96
••
9,620 00 • .150,000 00'
.
$20,000 00
" 13,928'88.
100,000 G
O
13,930 94
— - •.
' • 100,000 00
3,056 84 "
911.92
147,500 00'
695 41
- '
. -.8,371 67 - "'• 270,165 84
, 300,000 00 '
. 25^214 93
6,019 89
458 09
~- .
....:•...-. ..... -.. , 100,000 00
• 150,000 G
O
6,000^00
12,538 55
•
. 80,000 G
O
' 13,310 17
^
" 1,102,918 93
- 1,500,000 G
O
^ : 151,028 25
• 64,492 29.
168,413 10^ ...,..,. ^.. - ....
500,000 00
•
14,500-00
16,026 81
131,054 86
500;0G0 G
O
,
1,385 71
- 2,378 17
• . 17,252 87-1
367 20
150,000 G
O
302 06
: 265,000 00.500,000 00
. 10,270 83
8,928 29
.. 300,000 00
18,337 22
(/ ' - .. • .
34,i67 83-'
473,050 00
13,554 35
• 2,271 49
4,428 16 -;
•'
'465,100 GO- .
5,625 00
12,266 44
. • 12,758 28-' :;
35,000 G
O
•' -500,000 00
9,178 57
-::23,13i 4 2 • 400,000 G
O
7,192 77
806 31200,000 G
O
r
. 639 77
"66,039 0 1 ' "
73,750 G
O
500,000 00
.
46,310 50
133,67164- • -^67,372 02^ ; 500,^000 00
,
• 121,425 45
670,554 1 1 - • .520,979 05
^ 2,050,000 GO' •
16,843 77 •
- '.
969,563 15 ^ -.2,398,87610
3,001,200 00
. "'•413,602"29 .
.
440,588 75"
- 90,311 10 :
600,000 G
O
' •• 96,542 79
288,390 70= - • •179;576 18
442,000' GO .
' 19t),695 77
. .
1,139,451 G
O
13,629 69 , 2,000,000 G :
O
681,246 54
• 1,564,759'29144,932 72
1,500,000 G
O
293,950 35
33;447.38
3,013,623 00
103,125 00
. 1,490,000 G
O
. 375,399 G
O
40,606.00 !
110,315 53
400,000 G
O
131,381 84
- •.
775,254 16
75,000" 00 • l,000,GGt) G O
1
221,893 64
, '2GG;OGO GO
.8,687 40
254 57 .
i .
31,905 07..,
. 210,557 34' - -160,000 G
O
440,000.00 •
'"
113,821 72
'i
.
..'$94,232 31
. 41,423:09
750,000 G
O
133,101 06 .
170,7.59 24
•100,000 G
O
750,000 00
141,290 69
- - . -"
30,715 00
.210,000.00'
99,164 G
O
' •.
. ,-'
- .23,236 58
400,000 00
20,319 75
-.
20,200 88
200,000 00 ;
36,924 '43 '
•'•-•1,617,174 21 .
•859,022 62
5,000-,000 00
189',-504 96
" 207,785 65
71,343 41
- 627 72
250,000 G O
16,012 51.
- •
. •304,227 10
. 502,263:13
600,000 00
107,869 02. 7,869-63/
588.90110,000 00,
91,247 97
331,168 4 6 ;
624,550 G
O
17,472 95
19,173 33
.601,2-73 93
.
1,845 GO:1,845,562 50. .
,50,B00 G
O
248,826 65
.187,269 00
500,000 G
O
82,046 81
- •' •
393,308 77
• 1,042,220 17
3,240,000 00 ' '
590,387 40 . -.' . 65,686 47
127,861 60
' 756,358'l7
-475,000 G
O i
.369,771 79
15,596 27
14,656 80
•237,500 G
O
i
- 975 95.
158,362 99' ' .- • •' - .
1,500,000 G
O
.. 209,274" 06
341,822 41
••1,000,000 00 i
203,509 49 1 '
19,111 31
407,463 55
. 92,689 83 • '2,000,000 00 - i • 127,899 36 1
44,827.26
157,552 95 1
.20,906 66'
1,200,000 G
O
.
. .46,147 44
' "'
• ' • . " • - . I
.357,005 25. 1 •
535,400 00 1 .
115i79.4 09 •
20,93106 1
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REPORTS OF THE

78

[1837.
STATEMENT U

STATES.

N a m e s and locatipn of B a n k s .
. c •

•

,

-

•

Date of
return.

ALABAMA
MISSISSIPPI

Branch of the Bahk of the State Mobile . . . . . . . . ' . A u g . 7
. . . . . . . . . . . . . . Planters'r Bank of the State. Natchez
i....'.
3
Agricultural Bank of the State, Natchez . . . . . . . . . . . J u l y 31
LOUISIANA
Commercial Bank of New-Orleans... 29
Union Barik of Louisiana.
.;....-.
31
TENNESSEE.
Union Bank of the State and b r a n c h e s . . . . . . . i . i . . A u g . 5,
P l a n t e r s ' Bank pf the. State and branches
' 16
KENTUCKY . . J . .
Bank of K e n t u c k v Loiiis-villp
.^......... .
. 15
Savinffs Institution,Louisville
..'
..'•••...
16
Northern Barik bf K e n t u c k y , L e x i n g t o n . . . . . . . . . . .
•.•
7
14
•Branch of ditto, Lduisville.
• Branch of ditto, Pa ris
..-......'....
17
7
^
. .. Branch of ditto, R i c h m o n d , " . . . . . . . . . . . . . . . . . i . . . .
Branch of dittP. C o v i n e ' t o n . . . . . . . . . . . . . . . . . . . . . .
•
7
OHIO
. ; . , . . . . . Fi'.-^iiklin Bank of Cnlnnihn«j
. - -k . . . . .
9
Clinton Bank of Cplumbus.
...;...;
19
Franklin Bank of Cincinnati'.
.;....•........
19
Commercial Bank of Gincinnati . . . . . . . . . ' . . . i . . ' . i
16
Ae"encv of dittoi at St Louis.
' . . . ; . . . . J u l y 31
.Coriimercial JBank of L a k e E r i e , Clevelarid . . . . . ; * A u g . 15
'.-....
14^
^} Bank of C h i l l i c o t h e . . . . . . . .=
• B a n k of Cleveland . . . . . . . . . . i . . ; i . . . . . . . . . . ; . . . ; /
16
Bank of A V o d s t e r . . . . . - .
.'.
15
INDIANA
J u l y 22
ILLINOIS.'
Bank of the State, at S h a w n e e t o w n . . . - . * . . . . . . ' . . . . . Aug.. .5
M I C H I G A N . . . . . . . . . . . . . . . Bank of the State, at Detroit"...;,.. . . - . • ; . ; . . . . . ; . . . ;
18
F a r m e r s and M e c h a n i c s ' Bank of M i c h i g a n . . . . . . .
15
NEW YORK.........
D r y Dock C o m p a n y , - N e w Y o r k : . . • . ' . . . . . . . . . . . . . M a y 1
DELAWARE
Bank of Wilmington and B r a n d y w i n e , Wilmington. J u n e 15
G E O R G I A ^ . . . . . . . . . . . . . . . . . Insurance Bank of Columbus, i . . . . . . . v . . . . . ; . . ' . . Aug.-"17-

•

MISSOURI




•

• • ' ,

*Bank of the Statie df Missouri . . . . . . . - : - . ^ . . . . - . . . • ; July T

*New selection.

1837.]

SECRETARYOFTHETREASURY.

—^Continued.

Loans and: discounts.

'

Bills of exchange.

Suspended deb.t.

$517,967 28
$2;994,434 16
- 5,165,435 39
1,086,896" 41
934,417 74 ^
4,000,776-86'
"
406,876-53 .
3,636,7.46 5 3 ;
905,268 92 '
^ 7,643,349-33
'
1,023,679 70
\
3,489-,644-53
1,245,062 69
3,346,083 59 694,871 21
2,113,585 5 3 :
172,53172
, 13,385 73;
1,078,097 07
157,576 45
.
98,385 19'
:
501,688 68
.4,21116
• 378;584 76 '
1,357 37
150,934 58
267,002 90
47,315 04 ^
634,416 68
370,667 03.
.
l,G86-,222-47 560,410 56
. : 966,048 74^- ^ ' .
929,315 '29.
335,661.48
\ .23,443 37 '
: 116,577 73
659,632 54 ^
• •
. 331,531 46 ,
4;278 36
'
52,750 59 ^
: 435,144 99 .
91,349 46
264,941 GO . '
r
..794,637 06.
2,844,36:9.57
•
243,318 31
15,444 76
942,273 12
435,565 96
223,715 65
535,722 66 •
l,255i880 61 ' •
' ;
186,802 17
•- ' ' ,
'
15,500v00 ,
. 249,172-40,
: " • •

112,902',662 67

,

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^ ' 17,694,530 28
^

5355874 14^ .




14,632 62

•

Stocks.

$i,38V,313 63
2,672,343 14 •
'• $125,900 GO
682,700 90
. 443,599 45 •
68,300 GO 1,068,205 29
604,010 59'
:
20,008 90
.28,223-87 • '- 1,120,000 GO
17,150 GO
'
13,525 00
446,000 00
114,850 72
345,000 00
;4=,900 00
' 90,000 00
50,000 GO
.75,000 00
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• • 28,477 69
- • 47,293 87 .
•
c 15,281 82
112,146 GO
, 5,775 00
44,725 65
^ -125,608 50
.

47,000 GO

191,082 74

0,.

16,946 20
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47,359 85 •

117,200 41

- 12,383,046 65- ,

. 5,324,858 15

80-

[1837.

REPORTS OF THE

STATEMENT U

•-.;.-STATES. •

.•:'..

Date of
return.

Narifies and location pf Banks.

..... Aug. 7
A L A B A M A . . . . . . . . . . , : . . . . ;Branch pf the Bank df the State, Mpbile;
..,.....
3
M I S S I S S I P P I . . . . . . . . : : : . . . . . . Planters' Bank pf, the State, Natchez....
Agricultural Bank df the.State, Natchez.....".'......". July 31
Commercial Bank of New O r l e a n s . ; . . . . . . . . . . . . . ;
LOUISIANA
.'29
Union Bank of LPuisiana..-...'...
' . . . . . . . . . . - . / i 31
Unibn Bank pf- the.State and branches . . . . '
TENNESSEE
Aug. 5/
Planters' Bank pf the State and b r a n c h e s . . . . . . . . . .
KENTUCKY.
Bank .df Kentucky, Lpuisville....... 1....15
- Savings Institutipn, L p u . i s v i l l e . . . . . . . . . . . . . . . . . .-.'•.
16
Northern Bank of Kentuckv. Lexington
.'
• 7
,
•Branch of ditto, Louisville. . . . . . . . . . ' . • ' . . . . . . . . . . ; .
14
Branch of ditto, Paris
.;..'
•..-.....-,.
• 17
Branch of ditto, Richmond
.'. . . . . ; . * . . . . .'' -7
. • . 7.
Branch of ditto, Covington'..
OHIO
...;.
Franklin Bank of-.Cplumbus.
i
,..,. i:..
9
Clinton Bank pf -Columbus ".,.." . . ^ . .
19
19
Franklin Bank of Cincirinati..
.^,',
• Cdmmercial Bank of :Cincinhati..;.'....... i......./' •/•'. 16
', Agenqy of ditto, at St. Lpuis...'.'
: . .",.•..,...' July 31
" Cpmmercial Bank pf Lake Erie, Cleveland.......... Aug. 15
Bank of Chillicothe.-........;...'....-......-.;........ \ . ' : . 14
Bank of' Cleveland. . . . . . ' ; . . , . . . . . . . . . . . . . . . . ! . • . . . ., 16
Bank df W p p s t e r . . . . . ; . . . ; . . ' . . .
..........
..
15
INDIANA
..;....
'State iBank pf' Indiana . . ' . . . . . . . . . . . . - ; . . . • . ' . , . ' . . . . ' : . . July 22 '\
ILLINOIS...;...;...
"Bank pf the .State,-at Sha-sV^neetpwn."............. 1. Aug. .5 1
MICHIGAN.:......,
•Bank pf the State, a t . D e t r p i t . . - . : . . . . . . . . . . . . . . ' . . . . 18
. Farmers,and Mechanics' Bank pf Michigan. -.
' >: 15"
N E W Y O R K . . ; . . . . ; . . : . . v . . Dry Dpck Cpmpany, New Y d r k . . . . . . . . . . ; - . . . . . . . May 1
DELAWARE .•
i.'
. . . Bank^ PfWilmingtPn and Brandywine, Wilmington June 15
G E O R G I A . . . . . . . . . . : . . ' . . . . . , Insurance. Bank of Columbus
.-........... Aug. 17 :

M I S S O U R I . . . . . . . . . . . . > . . . . . *Bank of the^State of M i s s o u r i . . . . . . . . . . . . ; . . . . . . . July 7




. '

•

*New Selectidn.'

-*•

-

.

.

•

.

1837.]

SECRETARY QF THE TREASURY.

81

—^Continued.

Other ^;
investments.

Real estate.

Expenses. •

Balances due
from banks.

$41,013 26
$407j599 25
$2,790,626 94
\ . 12,948'85
9,205 61 • . ,
23,613 19
; . . ,16,659 01
2,273.85
71,101'63
. \7G0,12115
7,591 93
.*'
379,310 72
•' , 2,108,878-52 . ^
26,669 04
•:. 781,454 92
••
2,340.22 • .' . 422,338 06
4,812 48 . . . 639,619,64^
; -2^203,739 .22
• - 1,876 16
: 852,396 65
; '' 342 83
44,879 32 ^
'
-369,470 41 •; •• ' 1,948 68 •
'
266,165 03
;
3,920'98
1,266 44
, 166,297-57
. : ' ' ' ; 95;59 / 307^62 ,
: • 23,668,59
• 328 33
1,244.75'
5,000 G
O
• •l,542-'84"'
459 61
,
12,290 56
11,786 91"': ; : ' 360 37 1,488 07. . - . 121,772 23 .
i' 8,189'25 '
527 99
11,726 20
- ' -37,000 GO'
75,800 00 •
732 53 ' : . 40,465 19
..34,426.80;;; .' '406,954 87 "
483 92
913,0.5.8 93
\ \ \ 2,335;99"
' 8;490 37 ; . ,284,930 85
•. 3,928 42 ' ;.,
2,218 66
165,355 22
, 13/874 76
. 276 95
. 215,777 53
, -• 984 84., . ....,., ^.....
61 50
\
57,693 11
* v' * 5^21 '•
7 1 49 . .;
13,749 14
;. 72,821-87 • ' 395,'36r2'9^ ' : 5,479 55
1,158,388 24
975 00
'
• ' 29 25
41,727 "93'
.20",84125"
292,937 85
'"•'".-'-''
14,263 20
•"3,896 90
635 43
345,636 29
. 246,026 09' ; \
2,399 16
6,261.83
127;631^63;
11,620 00
• M,G48 677,743 54
13,500 G
O
2,907 93
^ 3,582 63^ ^ : 344,070.34 ;

$80,089 25 .
195,038 14
37,493 00 150,689 16
148,845 08 .
. •42,839 88
26,223 20 .
• 28,341 77 •
> 10,000 00 *
50,000 G O ;
• 16,500 55
.. .2,395 02.

'

;

-

•<!

-

V,

-•

-

• ,

;

;

•

'

'

_

.

•'

'

'

.

^

'

^

.

••

-

_

;

'

•

•

. -

3,214,726 4 8 ,
1,300 00

•

-

-.18,224:65

VOL. IV.^—6.



'

-

.

•

'

•

•

14,436,405 78^,

$62,777 96
200,856 35
65,424 56
136,553 34
'246,217 G
O
. 171,550 25
" ' • 184,065 G
O
232,443 32
47,560 00
.139,780'GO
59,580 00
18,680 00
8,090 00
5,818 00.
32,845 23
'

;

'

'

Notes of other
banks on hand.

290,628;38
2,507 8 2 .

24,683,001 37
^ :4,182.38

47;G75 43

47,046 00
97,913 G
O
10,500 00 .
41,653 00
71,396 61
23,246 00
26,091 00
329,095 86
45,450 00
" ." 9,845 G
O
7,356 35
81,661 01
;
.3,849 60
;;...159,909 GO'
9,545,429 33
.^

.408,510 G
O

REPORTS OF THE

82

[1837/
STATEMENT U-

STATES.

ALABAMA..
MISSISSIPPI.

Nanies and locatipn of Banks.

Date of I
return.

GEORGIA...

Branch of theBank of the State, ;Mabire:..........
Aug.: 7
Plan ters'.Bank of the State, Natchez..
.......
3
Agricultural Bank of the State, Natchez...:
' |July-.31
Commercial Bank" of New Orleans, i . . . ' . ; . . . . . . .
29
•Union Bank of Louisiana.
3i
Aug; 5
Union Bank of thje State and branches
.'..;.
Planters' Bank of the-State and branches ,.
16
Bank of Kentucky,- L o u i s v i l l e . . . . . . . . . . . . ' ..i...;.
15
Savings Institution, L o u i s v i l l e . . . . . . . . . . . . . . . . . . - ,
16
Northern Bank pf Kentucky, L e x i n g t p n . . . . . . . . . ,
7
Branch pfdittp, Lpuisville
......:.......':'.
14
Branch pf dittp-, Paris....'.
.'i ..•/
%^.
17
Branch pf ditto'j Richmond
.,-..,
,
7
Branch of ditto, Covington;..... i .
,,
7
Franklin Bank of Columbus.
9
CUnton Bank of Cplumbus.
'.
.',,,
19
Franklin Bank of Cincinnati
19
Commercial Bank .of Cincinnati....;.
-.......
16
Agency of dittp, at StV-Louis^
;
iJuly ^31
Commercial Bankof Lake Erie, Cleveland........
*
15
Bank of Chillicothe:......:
.......'.
,
14
Bank of Cleveland '.
.;...........
16
I'Bank of W o o s t e r . . , . , . . . . . . . . . . . . . . ; . . . .
15
Stkte Bank of I n d i a n a . . . . . . . . ' V . . . . . . . . . . . . . " . . . . July 22
Bank of the State,- at Shawrieetown . . . . . . . . . . " . . . . Aug. 5
Bank of the-State, at Detroit...;
• 18'
Farmers and Mechanics'Bank of Michigan . . . ; ; .
15
Dry-Dock C o m p a n y . . . , . . . : . . . . . ; . . . . . . .
. . . May;. 1Bank of Wilmington :and Brandy-wine, Wilmington. .1
IJune-15
Insurance Bank of Columbus, i . . . . . . . . . . . . . . . . . . lAug-. 17

MISSOURI....

.*Bank ofthe State .of Missouri.

LOUISIANA..
TENNESSEE-:,
KENTUCKY..

OHIO.

INDIANA....
ILLINOIS:.,
MICHIGAN.
NEW

YQRK:

DELAWARE




; New" selection.

Juljr..;"/

1837.]'

SECRETARY OF THE' TREASURY.

83'

—^Sontiiiued.
DEPOSITES.'

Specie dnhknd.

CirciilatiohV
Tr.easurer of' the
-United States.

All other
depositors.

Public ofiicers.

O
$'95.0>56 26
$l74"i9:44 45" ;,' $l,5jS0,826^67^:
$1:38;610:55' • $l,855-,230 G .363,228 46- '. 'r-52i;76r.'88- .•- 695,308.67.
28,235 71
535,564 56
68,49'9 96' • 1,^0G9;816"00 853,075 04; .- .
375,428 95:
- .' 118,305 06 •
' 402,339 Sl
^63,956 98^ •'
242a7€"81
'462,974 39"
80,577:40" 1,305,470'GO; ,: 593;841 05
223,590 29
.l.,06;7,-.707-02.
199; 104 39' ' '1,307,481 '48: :: , 24^,997'.61; :; - . : 8 6 i 9 3 r i 5 '
997,417 G
O
. 2214,125 31"^ - 1,323,685 3 3 ^ : •136,320 87; •V 3895952.45- ..
.1,202,022'06
29.8,578 6 7 ;
• 694,735'oo; ;,
601,112 17.;' :;-.
27~G,400 32
..56,488 36^' " ' ' • <hb.hey/ ' '
85,463;34:
I0vl32 60
129,324 06
.S92,500 73•• •; 616^500'GO'; • - 5i:i439;82: :•;; :... 39^893 5 2 .
- 273,674 22
. 303,944 1 2 ' ' - ; ^22o;84o 0 0 ; ;
105,231:45;
33,138 72
122,707 91' • 'M53,'470W:'
28,163 6796,167 76^
I0'0,795 00' ' '... .' ^9,104 37
94,622 79135,730-00"
.
. 19.,416.86.
': ,.S55,379 16' • - 291,029'sr /
5S;63183; 'fi ' .58j985 27'
112,709 39
I0b,181 44* 119,895*00 "
: : . 419 7 3 ;
' 75,933 63
180,494 11 = ' 276,751 G ; . 403,l03:"lSi ; '
O
,2j056iG 21 .
169,481 48
564,553 04969;378G0" '. i347^961 5^;.' :
•• 60,480.60
261,412 99
'• ' ° ' M o h e J
'^' '• -;
509i5iO3i;;
; .20,136 61
:W5i;24'IO:G;790 57^
328,017; 00^ ; - 6 0 , 6 8 2 ; 7 5 ^ .. • . ., .-' 149,276 73
, i¥8;894 42-- •'" 293,200^08" ' • ;198,'902.GO:
54,672 77 .
60,568 98-- "• •244;7J9 G V . ' ^ 21,103'42 \;. .. .^^257 45
O
76,153 19
• :53,874.02': 1707442 GO' ;: ••44,471.05;.: . . 7.0,746-00?
'9,99,894"'34" 2; 476,076'00-^ .V '901,531 75 'J
; - 8 , 9 1 ^ 6 4 . , . . . . . . 530,411'54!
. 158-610 3 4 ' " • • ';64,846'00'
39,795 90:. . , ..,m:j238:i80:-.
84,847 07* 330,463- 0:0^ :
621,993 22 ; r , 35^579 41'
205,052 01
. 8^;672 42- '• 169,911 .00
3.76,'057 62;. ; .
64^3qi 49. .. . ..,137i59B;39;;
29,586:08-. '
268;69a 80.' ; : ;"80,poo; 00;
.,.
4G9;22i;75.
i29,99§'7i
62,273-50' :
36,000-00;
.;82,6:.ll. . ,
43,303il49l16i^;i85 71 • ^ -70,513.00^
•5,035 00'
53,233 59
• .

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1#,580,413 95

32,626,004 5$

' - 293,30a 72

• 'fifi:"/




4,574,6t6 98"'

12,944,666 70

. ' • •

-

-

,

.

/

,

:

3^36

29,492,113 25
. .411,289 87

[1837.

REPORTS OF THE

84

STATEMENT

STATES.

U

Date of
return.

Names arid locatipn of Banks.

Branch of the Bank of the State. M d b i l e . . . . . . . . . . . Aug. 7
Planters's Bank ofthe State, Natch6z
....:,.,
3
Agricultural Bank.of the State, N a t c h e z , . . . . . . . . . . July 31:
LOUISIANA..
: ; . .CommercialBank of New O r l e a n s . . . . . . ; . . ' . . . . . . . . . 29, Unipn Bank p f . L p u i ^ i a n a . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 31T E N N E S S E E . . . . , . . . . ; . ' . . . Unipn Bank pf the:State, a n d . b r a n c h e s . ; . . . . . . . . » ; Aug. 5
Planters' Bank df the State, arid bi:anches..... '.\..-.;
K E N T U C K Y . . . . . . . . , . ; . . . . Bank pf Kentucky, ^Lduisville.,...'.. . v . . . ; . . . . . . . ' . ' 1 5 :
Savings, Institution-, L p u i s v i l l e . . . . . . . ' . . . . . . . . . . . . . . . . . • 1 6 .Nbrthern Bank pf Kentucky, Lexingtdh.. * ; . . . . ' . ' . . "••;:•. 7
Branch pf dittp, L p u i s v i l l e ; . . . . . . . - . . . . . . . . . . . . . . ' . . ' : .^14.
Branch pf dittp,. Paris^ . . . . . , . s . . . . , ' ; . . ; . . ; . i . . . . . . . ' ' • 17Branch of ditto, R i c h r i i p n d . . . . . . . . . . . . . . . . . . . . . . . . . ' - 7
Branch pf dittp, Cp-v^irigtdn... 1. ..•••'•» • •••• •-• • • •• •. • . : ' • ' 7 O H I O . . , * . . . . . a...
Franklin Bank pf Cplumbus...... f ; . ' . . . . . . . . . . . . 1
CHntpn Bank pf Cplumbus
,.....:
.;•.".
Franklin Bank pf C i n c i n n a t i . . . . . . : . : . . . : . . . . . . . . . . • 19.
•
Cpmmercial Bank pf Ciricinnati........,.-.. . • . . . . , . -; ;.M6
Agency pf dittp,. at St^ Lpuis.; i . . . . . . . - . . . : . . . . . . . . , . July 31Cpmmercial Bank Pf Lake Erie, Cleveland- . . . . . . . ; Aug.-15.
Barik pf Chillicdthe
• 14
Bank pf C l e v e l a n d . . . . . . ; . . . ' . . . . . . . ; . ' ; . ,•'.
.:. >-•••.: 16
, Bank pf W p p s t e r . . . . . . . . . . , . . . . . . , . . . . . . . . . ' . . . . - . <; 15
INDIANA...
*. State Bank pf Indiana.:
;•.••••• •• • • •• • • •• • • ••• July 22
ILLINOIS.....
. . . . . : . Bank pfthe'State, at Shawneetown . . . . . . . . . . . . . . . ' . Aug. .5
MICHIGAN...
• Bank of the .State, at Detroit.' . . . . . ' . . . . . . . . . . . . . . . • - • .18Farmers.and-Me'chanics', Bank of Michigan
15
N E W YORK
'.. Dry Dock Company .
^
,v .............
1
D E L A W A R E . . . . . . . . . . . . . : . Bank of Wilmington £ind Brandywine, Wilmington. May_ 15
June
Insurance Bank.of Columbus......... ...*....,
GEORGIA...
Aug. 17
ALABAMA
MISSISSIPPI.

•••

. •

'

MISSOURI...

.

>

•

••

- ' 9

•

: . . . . . . . . *Bank ofthe State of M i s s o u r i . . . . . . . .




•

H

:

i...

_ :

*New selectipri.:

•

•

i

,

July'7
;.

; .

1837.]

SECRETARY OF THE TREASURY.

85

-—Continued.
i

Balances due to
Other Habilities.
. , banks..

.

$587,146 66
' -619,406 05
• 830,749 03
659,225 40.
913,858 67
365,181 71
107,876 58 ".
278,638 76 .
12,673 71
154,376.06^
572,595 18
625 10
•
56 50..
3,932 17
.24,905,29
9,598''45
76,027 49
752,168 9696-,G52-20
. 9,144 12
6,482 30
, 9,267 16.
2,226 95
,640,270 99'• 12,580 29
58,014 9949,000 71;.
511,922 97
10,219 91
316,610 10
55,083,8,91 46
240,25199"

Contingent fund. Profit and loss, dis-count and interest.

Capital stock.
"

,

•

•

,

.

• ;

$2,300,000 00
43
$379,889 81
$577,944 00
92 • 4,2,05,140 oo:
1,091,930 73
01 . 2,000,000:00
430,144 48
00
3,000,000 00
•
409,796 48..
98
7,000,000 G
O
.1,077,067 49
820,000 00
36
. 2,547,739 G
O
264,225 28
124,894 03 ^
41
.2,000,000 G •
O
77,441 62 .
393,127 49
44
4,586,070 76
52,508 j 5
86,4i6 60.
- :-;i04,i88=G0
4,928 25
15,628 G
O
553;i42 69
1,035,585 00 '
.
39,452 06
51,000 00
675,000 ;0G
4,628 90
60,254 3 1 400,000 00.
3,037 57
. '• '
16,986 96
. 180,000.00:
1,179 96
73,365 72
r: 275,000 G •
O
1,606 99
481,560.00
36,227 06
'.' 300,000 G
O ,'.
4,695 25.
27,825 28
^ 9,138 10
1,000,000 G
O
. 16,868 74
125,225 93
.286,044 78.
1,000,000 00,
253,785 41
, 10,000 00
none.
, 14,108 05
.,-..
500,000-00:.
,
58i317 36
.'"'.,.- " .
'' ^ .500,000 00.
27,463 99
'
8,537 69 '
' ' - - '.'' •
: 227,545 00'
32,266 11
1,913 68 ,
195;864 00
^
3,763 97
7,341-00;
.1,845,000 G
O
, •. 72,782:82
250,666 54
• 257,550 00.
••
9,544 60
50,000 00
450,000 G
O
•38,997 95 .
13,155 87
400,000 00
6,969 69.
• 10,000 0.0 >
. ,
420,000 00
70,190 79
120,000 = 00
6,444:^
9,355 72 •
• - ^ .
.
2,567 42
600,000.00;
'24,069 31
' ,"':
$33,494
898,110
380,134
7,624
. 7,930
18,634
59,574
1,004,174
-

-

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11,066,348 27 ,

81,628,104 26

• 342,249 2 9 ;

280,552 62




•

•

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5,117,734 33'

•

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'

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'•

8,522,763 24
4,110 20;

^
;,

.

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V.

. .

;

' •

.

'

. TREASURY DEPARTMENT, J?^?^

I S I R : Replies having, in most cases, been received to my circular,
I .addressed,-in =May lastlo, the cashiers of those deposite,banks which had
.suspended spqcie payments, I now propose to submit a few remarks to
your consideration, growing out of those rephes, and out oJF events which
• have since .transpii:ed..in .connection with your :relations -to the Treasury
Department.
.
,: ;
[ •.'•
.' •
""^••^-, '
d. .^It affords me niuch gratifiGation=to find, so^f^^^^
epncerning payment .and security,;a :gi-eat^^,v^^^
expressed tb-make
the -tfnited States-amply safe iforvlhe eventual ^payment of lalL^that is due,
and ;ia .strong conviction eiiteHaine^^^^
ri6.rioss will be
ultimately sustainqd by the jGbvei;nmeint. But, ^whenever ' reasonable
doubts on this subject-have aiiisenwithih^
steps have boien
taken.to procure additional seeunty,,,Qr to withdraw the public^funds
more:^rapidly, if possible, than ^was; otherwise intended. .And..a part:of
the.b.l^Ject of this communication.-:is'"to.apprise you"that such"^ill-be the
qourse which a sense of duty must-require me'to continue „tp :pursue ih
regard to any bank-whose condition may appear doubtful while.the relation .of debtor |and; creditor existS;;between it and: t t e Treasi^iy. . .- -2.•'Another jpo.rtion of that icircular-.communicated informatioii- concerning xhe'lenient mode whidh,/'under ;the ^evere losses Qxperiehced hY,
-many:of the'hanks from mercantile ^fe^^
and under the •.embarrassments to others paused by panic and waiit of confidence^ was cpntemp.lated.to be adopted.-in recalling .the public funds. That.mode -w^s by
such moderate drafts and transfers as the public necessities;should from
ti^ie tQttime demand; 'and an earnest requ.est haying beeii made-for a
satisfa,ctory,compliance with it oii-the^part of the banks, assurances, have
. generEtliy been given of a readiness to ans;vver'*those calls w^^ith•promptitude andiivaTi acceptable .manner.; But though it is gratifyihgto!ad^,
thatiin mpsi' cg^SQS these-assuran^eesihaTO
.,thing iike^three rniUioiis^
money have beenlp.aid over
by .the discontinued banks since the .12th of .May last, and, in,.a few
ihstances, all '^hich was on hg.hd'; and though about nine millions more
are expected t o b e paid early in Juiy^ yet, in. some cases, proper efforts"
•and sacrifices do not appear to have.been made to discharge, their
; important' obligarions to the. Treasury. In such cases, and especially
where the neglect produced serious inconvenience to our fiscal operations,
or injury to the public credit,; the Dep'artment -has felt compelled, by it§
responsibihty to the Goyernment, to td^e preparatory measures suitable
to.obtairi.indemnity for the. past*and enforce those obhgations in future.
•It will- feel, obliged, to adopt such measures- hereafter in all similar instances; and though its moderation and lenityhave beeii, and wilf be, as
great as is supposed to.-be justifiable, they must not be misconstrued.into'
indifference .or forgetfulness of what is due as well firom the banks ^s
^0* the public creditors and the United States.. "
The location of several of .l:he b^^nks, and the- small amount of pubhc
money in their possession, will exempt them from many calls.at present,
. arid enable them easily tb meet such as are made, Buf the situation of



1837.]

SECRETARY :0F T H E TREASURY.

87

:<)thers will, under all just forbearance, render the qalls upon themimore
• frequent and iniperative, and .wilL require, as it is hoped they will
receive, a/correspondent exertion to answer them. Such exertion, i t i s
[believed, will in the :end^ be.far better for all concerned, though accom[paniedby some :temporary sacrifices, than, to suffer loss of character, by
incurring the .imputation of .a'Qoritinued violation of essential duties, and
by .ex:pQsing.the -Treasury to embarrassment and.the public creditors and
officers ,to,severe injury.. ;
The.Department cannot •recognize the.right of any-foriner depository
;tp be exempted from paying specie;to the public creditor, if insisted on
by him; it being due, in both honor and. good faithf as well to him as to
the Treasury. ' :^It is true .that-the difficulty of procuring it when wanted
jhas been somewhat enhanced,:.and this.at the. time when demands for it
are increased,-and the-ability of some of the bank's is weakened by the
jfailures of some of .their:customers. But these .are obstacles which are
iby. iio rneansdnsuperable, and which, when occurring, it is the duty, and
.it is hoped wiUbe the desire, of .every'bank to make efforts to iremove
/.at=ariy reasonable;^expense and trouble. . , ^ ' ^
. ;3. The returns of..the condition of the selected banks which were
requested..to be iContinued, have .generally -been made, with promptitude
.and regularity.-. But wiiile it-is very satisfactory to see, in most cases,
•a :reduction. in discounts" and '^circulation, and which course is the .most
efficient to.cure one^of the existing evils in banking, and to enable the
institutions whiqh ^have suspended specie payments to resume them at
fauicaiiy day,;and with mu6h:greater safety, it is regretted that, in afew
. .instances, this course has not. been adopted. But whenever departed
from in such .a crisis,: the error "has tended, -and must tend . hereafter, to
impair lhe .confidenca of the JDepartment in the sound management of
-the institution, and, to justify :such steps as may lead to a more speedy
. withdrawal;of the public money, or to the procurement of increased
Security.; - .
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jpayments, eoncerriing.which--the-yieW:S of the former deposite banks were
^requested in that ;eirqulai;, and .have generally been since; presented.
Without claiming the riglht to interfere on'this .subject beyond the deep
.sohcitude and-interest" felt b y t h e Treasury Departrnent concerning the
^condition arid •conduetof a l l its debtors, and beyond its duty vigilantly
-to examine into those ^points wheh indulgences are sought or granted, the
inquiries before mentidned were made :0.h these accounts ialone. It has
been a matter :of regret to-find, inmost of the explanations onthe subject
of suspending ias .-well as-resuming ispecia ipaymentS;, that tha action of
..one bank :has been niade to depend .so exclusively ori ithat of others.
.The jlocation, Josses, habilities, and mearis of the .banks were, and still
are, very different among themselves, as well as.in .different quarters.of
thecountry. In.illustration'of$his remaric it may be mentioned that
several of theriiy as in the ^Eastern States in 1814, have actually continued, to pay specie,-ajnd riiany others appear to have had ample abihty to
do it, if more courage,'energy, and independence had fortunately :b.een
united with their great.avaUable means.- Since the panic has in some
degree subsided, and" the opportunity has been enjoyed for lessening



88

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; REPORTS.

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|is37.

balances, discounts, and circulation, and when, so much' mo;*e. can be
done, in this respect, without causing distress in consequence of the.,
diminished business of .the community and the smaller demand fprmoriey, it is to be lamented thai a more gpneral effort has not been made
toresume, specie, payments at the earhest day practicable and safe": .It "
is true that afew banks very commend ably have already resiimed, kipd
• are in the successful discharge^of their plain legal obligatioris, thQugh.'.pri
a reduced;scale in business and profits; arid that others, are efficiently
attempting to place themselves in a siriiilar position, v But^ fi'bm the
rephes to my inquiries, the inchnation seems" to be^tpo prevalent for-the
banks in one city, county, State, or large regioii of countiy,* to •'pPstpone
the measure till all others in the.Union are. ready and willing to unite.
Their positions, in various respects, are essentially unlike, though in
general very strong. The condition of the former.deposite banks,, as a .
whole, is believed, to be stronge]r: now as tp specie compared with circulation, or irrimediate means ilo meet immediate liabilities, so as.readily to
sustain specie paynients ^under ordinary circumstances, than has been
the condition of all the banks in the United States at, any former period
fpr the last quarter of a century. .Their specie, on an average, is about
orie to three of their circulation, and their immediate riieans nearly one
to two and a half of'their inimediate liabilities. But, in some, large
sections of country, the specie is^in a ratio quite thirty per qent. greater,
while in others' it is less. ,- The want of confidence in some places
and the effects of losses in pthers, and w.hich constitute "the pnlj^ other
principal'differences in the abilit}^, at differerit .periods^ to; sustain such,
payments, have not extended in the sarne. degree to all places, and havealready diminished much more iri some of them than in otherS;
It is therefore earnestly hoped; that, by prudent and persevering efforts,
a resumption of specie paymerits can be effected at no -very remote d a y ,
and successfully maintained by many of those institutioris indebted to
the Treasury. So far as this Department has power to encpurage such
efforts, it has done, and cheerfully will do it while the existing laws remain unrepealed, by giving a decided preference for holding all Idnds of
public deposites to such, banks as pay specie. But beyond that. Congress and the Sta.tes alone "can. lawfully extend other assistance. / - You will more readily excuse my anxiety on this.topiq when, besides
the reasons before stated, you are assured.of the strong conviction entertained by this Department that, the resumption of specie-payments, as
soon as it can be acqomplished by any reasonable exertions or sacrifices,: .
would not only inqrease the facihties of our fiscal operations, and; much
promote the conyenience^ of the 'public qreditors, but terid to remove,
many reproaches from the banking institutions themselves, and to; preserve a strong sense.of moral obligation to discharge'faithfully, so far as
able, every duty imposed by law. ~ .'
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., ; • Respectfully, yours,
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L E V I WOODBURY,
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/ .'Secretary ofi the .Treasury* '
To the CASHIER ofi




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REPOKT ON THE FINANCES.
:' .DECEMBER, 1837.
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• TREASURY DEPARTMENT, Decemher 5,. 1837.

In obedience to the " act •^supplementary to the act to.establish the
^ Trqasury Department," the. undersigned respectfully submits the followingreport:
'
•
I. ^OF THE REVENUE AND EXPENDITURES.

The balance^ in the Treasury, on the Ist^of. January, .1836, including
some-trust funds, hereafter e x p l a i n e d , . w a s - . . . . . . . ..$26,749,803 96
The receipts during the year 1836, from all sources, except the Post Office and trust flinds, w e r e . . . . . . . . . . 48,873,964,36
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F r o m c u s t o m s . . . : . . . . : . . . . . : . . . . . . . ..:$23,409,940 53
Fromlands-.....'
. . y . 2^,877,179 86
Miscellaneous... ......•.-.-.•:'.:...'
;
686,843- 97 • ;
These, and the balance before'mentioned, constituted an
• 'aggregate of..............:.-. . • : • . . , . . . . . . . . . . . . . . . . . 75,623,768 32
The expenditures during the same year, exclusive of the
Post Office and trust funds, were. : . . • • . . . : . . \ . . , . 29,655,244 46
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.Civil list,'foreign^ intercourse, and mis-.
- cellaneous."...-........-'........-:.. . 1 . $5,388,370 58 Military service, including fortifications, Indian affairs, peri'sions,. arming the
"
militia, Florida'war, improvement. of . .
harbors and rivers; roads, arsenals, ,
>and a r m o r i e s . . . . : . . . . - . . . . . . . . . . . 18,466 110 .63
Naval service, iricluding graduaf improvement-and Exploring Expedition 5,800,763.^25
Hence there was left in the. Treasury on t h e l s t of Jan- '
ualry, 1837, a balance .of... 1 . . . . . ; . , . . . . , . . . . . . . . . . . 45,968,523 86
The reqaipts during the first three quarters of the present year, v^ith similar exceptions to thpse before m^^
tioned, are ascertained and estimated to b e . . . . . . . . . 15,144,916 00



90.

R E P O R T S OF T H E

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[1837.

. . . . • VIZ: ' ' ' ' • '
From.customs
::.•.
- i . . 1 . . . . . . $8,908,878 00 ^
Fromlands...
: . . . . . " .5,650,221 00
Interest from deposite banks and other
.; • .
miscellaneous and iricidental, receipts .585,817 00
The receipts of the fourth quarter, including- those from." the issue -of Treasury notes, to the amoant of four milhon. three hundred- thousand dollars, are estimated at 8,355,065 00
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From customs.'
,..'..
.$1,750,100 00
From l a n d s . , .
J....... I..:....':
:900,000 00
Miscellaneous and incidental receipts... " 4O,OO0 00 .
Issue of Treasuiy notes. ..........
. . / 4,300,000 00
First bond due from the •United States'
Bank, excluding- what belonged in
. trust to the navy pansion furid... 1..: "1,364,965 00 .
These combined make the total receipts for the year, as
ascertained and estimated. - - ' - . . . .
. . ' . . . . - . - - - -, 23,499,981 00
With the balance .on the 1st ofJanuary l a s t they consti- ;
• tute^aii aggregata o f i . . . . . . . . . . . . . . - . . . . . . . : . . . . . . ^ . ^ : . , . / - 69^68,504 ^86
The expenditures for the firstthree quarters of the pres: . ..
ent year, with the lilie exceptioris, are - ascertained ,tp
have been.
. . . . . : . , . . . . : . . . . . .25,418,916 57
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•Civil hst, foreign iritercourse, and mis- . ^
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^cellaneous....:....:. .r...,.;,..............•$4vq2482^^^
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. .'Military .service,, including -Florida war,' fi •
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other. Indian affairs, fortifications j .
L. "
roads, harbors, pensions, &c...:_, ..^.„.. 16,31.0,208i 35
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Naval service, iiicluding:ExpiQri.ng.Expq-.
. . > ...;. • .
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dition, gradual'improvement,. &e..-:.. .•5,061,865^87
. . .
P u b l i c d e b t . . . . ; . . . . . . : , . . . . . . . . ^ . . . . . , : : ; - . - . 2 ^ 1 9 . 2 5 : .. : f
See particulars in the document annexed, (A.)
•" .c. " ^ . '.
The expenditures :fGr the fourth quarter, including those
•
under the recent .as: well as .folder appropriatioris, are,
on.facts presented b y t h e various departments, esti-: .
.
.mated a t . . . . . . . . . . -L:
. . . . . . . . ..^ ..u..... i . . . . 9,8B2,445 ;00
Maldng an aggregate for;the year of....
....-.- - : . . . . ,35,'.2.81,'361 57
This computation-would leave in the Trea sury. on ithe " ^ . '- , ; ,
1st of January,'1838, a balance o f . . . . . : . , . . . . : . . . : . .;.$34,.187il43' 29
Before adverting tp dther topics, it will, ba proper'to; explain Wihat
portion of this balance will not immediatalyiie either available or apphcable to pubhc purposes^.. ;• :
'= ;. - r ': .t:. : ..
The first threa.instalmerits, of .deposites with; the. seyeral States, which
Kave recently been .placad with them to tha.credit of the Treasurei' for
isafe ;keeping, in .cpnforrnity to the proyisipris ;of the -act of i25d .Jpne,
1836, are included in-it. "
•''.; ' , .. . . - . : • :
As the subsequent la^w of-OGtobqr,14, 1837,-/prphibits-th^^^
those deposites tilj.;6therwisie'.direqted -by -Congress,•their,.large iamount



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1837.]

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

91

will till theri'%e .unavailable foir any purposes of. the General Government. Itis:$28,10l,644 W. . [ :
, fi . .
All the funds, in the Treasury, which,,in .any.fpr.riier years frpm the
•foundation of the. Governrnent,-have become iunavailable,-'being chiefly
such as are still due from insolvent banks, are likewise embraced in the
balance above mentioned. Their amount is not.far from $1,100,000.
Another poition, consists, of what is yet.unpaid by the banking institutions which du.ring the last spring and sunimer .suspended specie pay,ments, and thereby, runder-the imperatiye .-pro visipns ofthe deposite act,
' were discontinued as public depositories. • The amounts i n their posses-..
!,sipn: that -have been or probably will, under the. act of 16th of October
. last, be postponed and-will remain unayailabler---pne third till. July next,
one third till Jaiiuary; 1839, and the residue till July, 1839,' are qstimated
at $3j500,000. ;
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Anothei; sum, riot imniediately applicable to general.-purposes, is that
part of the amourits transferred to. the iriint, which, being ..now. iri active
employment .for,.the ..objects specified in the acts of June 23, 1836, and
of January :18,^18.37, cannot without 3eripus.inc0n.yanie.rica and soine
delay be othei'wise used. This:sum is about,„$400,000."; , If the aggregate of all-these,.amouiiting to .$^3,101,6.44.97, be deducted
froin'thebalanqe-of .$34,187,,1.43.29^^ above; nientioned, the residue ofthe
., public .money that on the 1st of January next will probably be then both
avaUable arid applicable to general.purposes, will be $1,085,498 32.
Perhaps; in strictness,.the.sum" of abput $370,797, which: was i n t h e
Treasuiy .on accdunt.of severaf small trust funds, and was included in
• the 'balance-on the 1st of Janua.ry, .1836, ought :also to be deducted from
what is now considei:ed applicable to public pm-poses. Most of it has
been, or probably will be, required for the special objects to which it
.belongs.
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.Previous tp the consideration of other matters connected with the
finances,; the undersigned would add that the^•apprppriations which will
iremain unsatisfied .atthe erid pfthe year are estimated at $14,50.3,483.
These, .with the exception hereafter mentioned,'will be chargeable on
that balance, arid on the revenue Subsequently received. To prevent^
Iriisapprehension on -this point it nqay be .prpper to observe that this' is
the amount. of those appropriations. Gp.nsidered : as unsatisfied, after
•deducting all • the "iiipney which has been actrially paid to the public
J -claimants, and all the .adyances;which, haying.been made to the .various
disbursing officers,- are stil!in their'harids for-the purpose of being paid
•'over to such claimarits. ; It is supposed that $10,351,091 ofthe outstanding appropriatipns "vyiU be required to accomplish the .objects; con-,
templated by theni. ^
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Of the residue, about,$.361,839- will go to the.surplus fund, or, in other
words, will not be used at all ; and it is .proposed to apply $3,782,551 in aid
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of the service^ of the erisuing year, without reapprppriatipn, as explained
in the estimates.;in thedpcument,annexqd, .(B.)
It is "proper also to explain that by the act of May'20; 1836, an amount
^sufficient tpi.pay the-p>riricipal of the debt due in Holland on.account of
the cities of the ;Piistiict;pfrColumbia, equal t o .$1,500./00.Q, was appro,..priated,;a.nd is stiU'pi^^^
' But this suriahas not been included



92

R E P O R T S OF T H E

[1837.

in the foregping statement of outstanding appropriations, as the reinibursement of the lpan cannot cpnimenqe, under the stipulations upon
which it was contracted,, until 1841, and-the amount- required may be
partly reimbursed by the sale of the canal-stocks pledged for that
purpose.
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II. P F T H E PUBLICDEBT.

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The payments on account of the funded 'an(d unfunded de.bt, since the
1st of December, .1836, have been as. follov^s: " .
• 1st. On account of the principal Pf the funded d e b t . . . . . . V . $14,197 26
This leaved unclaimed and undischarged...
. . . . . . . . . . 3 2 7 , 7 3 7 91*
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Principal.
,....
. . . . . . , . . . . . ; . . . . . .$76,169 74
Interest,with.dividends.... . > . . . . . . . . . . . . . . . ' . .251,568 17 . •,
The latter consisting of the amount due on Ist-bf
;
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December^ 1.836 . . : . . . . . . : . . . . . . . . . . . . . ..250,416 bo
Add excess of repayments s i n c a : . . . . . . . . . . . •.. • 1,152 17 ;
2d. On the unfunded debt there has been- paid, induding
' >' '
$199 5 1 for interest ori Treasuiy notes of 1815, the sunioL
$706 66
.This leaves the amount of certificates and riotes payable on :
presentation
. . . . . . ' . . . . . . . . . . . : . . . . . . . . . . . . . . I . . . . . 36,933" 40
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Certificates issued for claims during' the revolu•
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tionary war, and registered prior to 179.8::-..;.., $27,293 31
Treasuiy notes issued duririg tha late war •... ^. 5,320 00 ' .
Certificates of Mississippi s t o c k . . . . , . . . . , . ; . . . . . . . * 4,320 09

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l i t . ESTIMATESiOF THE REVENUE AND EXPENDITURES FOR THE YEAR 1 8 3 8 .

The receipts into the Troasury frorii the ordinary sources^during the
year 1838, may, under the explanations and conditions hereafter .mentioned, be estimated at. . . . . .
- . . . . 1 . : . . . - . J . : . . $31,959,787 D
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Customs, including about four rriUhons
which are expected to be collected on . "
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Lands, incliiding orie and a half rniUion /
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emptionlaw,if one passes, andof new
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' tracts brought irito m a r k e t : . - . . . . ; ' . • 5,000,000 00
Second bond of United States Bank,:'
with interest due in September, 1838. ,, .2,293,121 00 .
First instalrnerit'ofthe principal due from
. : . '
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1838, estimated a t . . . , . : . . . . . . . . . . . 1,166,666 OO; ' .
Intereston thesame, with incidental and
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New issue of Treasuiy notes in 1838'.. 5,700,o6oVOO
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1837.]

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

93

These and;the.estimated balance of'$1,085,498, which
will be in the Treasury on the 1st of January, 1838^ .
available.and applicable to pubhc purposes, constitute.
\ n aggregate o f . . . . . . . . . : . . . . . .
......'...33,04^,285 00
The ex:penditures fpr the .year ^1838, including the redemption of the Treasuiy notes which may be paid
in for public dues or beconie. reimbursable within that
year-are estimated a t . . . . . . . . . . . . . . . . . . . . .
: . . 31,926,892 00
Thus the" new approjpriations called for .
are.:..:.:.......
20,523,249 00
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Civil, foreign intercourse,
and'miscellaneous
$3-, 17-2,885,.
^ .. Mihtary ^service,&G
.11,664,612
Nayal:serviqe,&a......... 5,685,752 ,
.
•Xhe permanent appropriations-for the .:
• service of 1838, riiade b y foimer acts, ^
are . . . . . . . . . . . .'fi . . . . . . . . . . . / . . 2,^62^000
For the details of new-and-permarient."
appropriations required, sea:tlie docur ;
• meiit annexed, (B.)'
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Appropriations expeqted to ba;'mad,e'by , - , :
Congres^ beyond the estimates "subm i t t e d . . . . . : . ? . . . . . : . . . . . . - . . . . . : 1,000,000

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These new and. permanent appropria\tions amount t o . . - . . . . : . . , . . . : . . : :.$23,785j249'00
The outstanding appropriations' at' the
end of this year, after deducting what
,
^ will go to the surplus fundi are com; - '
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piited a t . . . . : . : ^ . : . . . . . . . . ..V-^ - ^ . i4,141;64^ 00«
All the appropriations, theii, which are
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chargeable to 1838,'^constitute an ag- , ;
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: gregate of. : . . . . % . . . . . . . . . . . . . : . . . $37,926,892 00
Of these it is supposed that not over-^eleven rnillions will V ^
reiriain putstanding; at the end of the year, and, con- ^ ;
. sequently, that the expenditures on.account .of the
. wholewill,iril83i8, be a b o u t . . * . . : . .
26,926,892 00
Add to this for redemption of Treasury-notes, by piir•
. chase arid by receipt of them for public dries;, they not
: being reissuable.:..:-......
.-,. 1 . . ; .
: . . \ . . .5,000,000 00
Makmg an aggregate of Jthe whole e q u a l : t o : . , . . , . . : . . . $31,926,892 00
The balance that \yiir tHus be left available, arid applicable to public purposes, on .the 31st of December,
• i838,:is estimated a V v ' - - . . - - - . - . ^
$1,118,393 00
In the fluctuating condition of our receipts and expenditures it may



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|1837:

.. appear, before the close of the' present session; that' results are. likely^: to
happen essentially different from soriie of these ca:lculatioris. But it rriust.
at present, be very questionable whether the^ Teceipts in 1838 will exceed
•the expenditures so a s to produce any surplus which can be deposited/
with the "States fpr 'safe keeping,-on. the Ist of January^-..1839, as.re^
• quired by the existing laws. Onthe contrary,, any considerable departure
fi'om the. estimatesV-'either by iriereasing the appropriations or reducing
the receipts, or by payingin-fprpublic dues alaxgei' amount of Treasury
notes, .will necessaril}^'Create .'a deficiency. Little certairity, thei:efore,
can be attained in any calculations' on "these poirits till further facts are
- -'developed concerning the revival of commerce, the probability of a
speedy improvement in the.currency, and the success, in effecting^' asfast as is compatible with the public interests, that reduction vin the
•appropriations which, in the present as well as prospective state of the '
Treasuiy, is, it may be presuriied, ^anxiously desired"^
.
- .
•

/
fi
I
I
/
\
\

I
j\
/
I

I-V.. EXPORTS AND IMPORTS I]Nr:i837.

The yalue of the exports arid imports duriiig the year y^hich erided"
on the. 30th of September last may be seen, accompanied by some interesting details, in the'-tableannexed, (C.)
. .^ ^ ,
.;
; ': .
The exports are ascertained arid estimated tohave been $l'l6,9Q6iQ6.0.'
Of these, about $95,183,199 Were of domestic,, and;' $21,722;86i ..of
fbreim origin.
"
. • • • ' " . -• •; """ ' ' ' " --••'•
i
They show, sirice" the previous year,, a diminution^ iii the former of.
.$11,733,481, and in the latter.of only* $23,499. "
-" ^ ^ , ^ -' • •.
The decrease in the value-of domestic' expPrts^has - been ocGasipried.
chiefly by the great.fall:in the price of .cotton duririg" the last spring.
They, would otherwise have been very "large. ; The exports,pf foreign .
merchandise have .been preyented, fi'oni falling muqh belPw-their fprriieiamount by the commerciarembarrassments of the' tiiries.^ These, particularly in the last quaitef; led to an export.of foreigri .articles uriusual
in proportion to the irriports, for the double purpose of pbtaining the
drawback on'many of them.in;..specie,;anddf discharging the;large debt
due abroad.'
° '"
. .- . :•' ;• ^ ^. • - •
- ; - • - ;,^.. v^
The value of .the impprts for t h e same' yeai\ w'as'$i40,852;^
.This
is $49,1.27,.055 less than-the value of tho'se'duririg 1110" previpu'sya
The imports duririg the last qualrter, eriding the ^Oth September, were
only^ $22,829;611,;or at therrate^ofrbut $91;318;444 a fieM ;" . " "
. -Perhaps a stronger illustration'could not exist pfthe extra:yag^rit pyei:trading during the year: 1'8S6 than the fact, now pffiqialiy' ascertained,! that
the imports, which in- a -naturahconditiPii of busineSB 'sirouid 'be less^ than
those of 18'37j wer.e neaiiy fifty niilhons larger,'arid were about one hun- *
dred mihions-beyondtherata of. impoits'duiing the
The expoits dming that quaiter were $19,159,034---being $13,105,51^ ;
of domestico'rigin, and"$6,052,524 of foreign growth. -By;thiVresult it"
will be gratifying tb,, see that the iniports, though diMinishiedyvW'ere'^^^
aU' -needed for home -qonsumption,- arid that'a- greater proportion of them
than in the former quarters has.been sent abroad to reduce-the.foreign
debt. Yetthe whole exportsweresriiaBeirthanma^




1837.]

SECRETARY: OF T H E TREASURY..

95

have also very.unexpectedly: been $3,533,313 less- in amount thanthe
imporrs: duting the same, quaiter; • But if freights,, coriimissions, and
profits, as well as remittances in stocks of various kirids; are takeninto
comp.utation,.the probabihties are. that the. foreign'debt, so far from,
having, been increased within thatpeiiod, ha3 been lessened some milhons,: but -not to so great an extentas most persons have supposed. In
the last:report on the: finances-some suggestions were made, .which further experience has served to yerify, respecting t h e influence which- the
sudden; faH in the price.of ^cotton-had exerted^ during the year in producing, commercial embarrassments, as well as'a. diminution in the value
of our exports. "
: .' ^
:^'' •.•••' .^'"
•' fi'
It imay^ be useful to advert a moment to the unusual effect upon-both
of those subjects caused by the fluctuations in [^another article. In
seasons of common* crops, and iri times^when,.uiider the guidarice of
ordinary prudence, industiy was directed more to .the cultivation of the
soil, the United States were accustonied, urider the blessing of ProvidencCj to receive rather than pay large;sums: for the great necessaiy of
life. F o r a series-of many years the value of tha grain and.flour imported did riot exceed a-few thousand dollars,. while .that expoited
was bri an ayerage quite $6,000,000.- - Sprnetimes it exceeded even
$14,000,000; and so late, as 1833, '34, and...'35 amounted to neaiiy
$5^000,000 annually. But in the year.ending .September 30,1837, the.
exportsof them fell^bff.nearly, a riniilhon,-whSe- the. iinpoits were augmented in value to the unprecedented amb.unt of more than four and .a
half millions. This revulsion, so great'and so sudden, from, bringing
home a small amount to importing so many millions worth of products,
mostly.for a single purppse, and that orie-so.important in domestic economy as breadstuffs, was of itself, sufficient to create. a. severe shock.
From .whatever cause the;necessity of it may.have happened, the result
conveys warnings: which, it -is. believed, .have' recently • exerted a salutary influence in aiding to restPre :a judicibus system of agriculture, and^
to promote anincreased attentipn-to haHts of productive industry..
^ Ar mp nient'sreflection on the detailed, effects of:the high-piices which
attended the revulsion will-show that they and t h e burdensome change
of five or six niiUions'in our exports and-imports must, when united,
havaaffected the, pecuniaiy. difficulties -of t h e eountry, and indirectly its
. trade .and currency, much-more sensibly than riiost people have imagined.
Beside the: grain whiph is distilled,- pr!!employed in the arts, or consumed
. by dbrriestic animals,, it is beheved that;-on an ayerage, one pound of
flour or: irieal .per day to each.person is used :for breadstuffs alone.
The whole quantity for a pppulation of fifteenVmilhons would, at that
rate, be nearly five thpusand £ve. huridred milliori^ of pounds a year.
At the price of three cerits perpound for wheat: flour, and only one arid
a half cents per ppund for\naeal: frorii the cheaper varieties • of grain,
which is not farfrPriiKthe average:of 1834 and-1835, the cost for bread
alorie (if. only one-half the population used.-^ wheat -flour, and the restmateiials less costly) would be about orie hundred and twenty-four'mil-.
" lipnsvof-doflarsv. . : ' . . '
But the averaige price to consumers during the past year: was: increased
in imost:places. quite eighty per cent. Whether this great-rise should ba


96

.

REPORTS OF.THE

\

[1837.

attributed to short crops; to an undue portion of labor bestowed upPn
the production of other articles; to depreciation in the va;lue of the circulating medium, in consequence of excessive issues of paper, or to'^all.
these causes combined, i t seenis to be clear that the increase in the cost
of bread alone exceeded one hundred milhons of dollars. If only half
of the whole" population not raising their o.wn grain were obliged t o pur-,
chasa it at such ari enhanced price, the new tax imposed on that class
alone, on account pf their bread, exceeded fifty milhons-of dollars. . ^ ^
This addition to their burdens was riearly seven dollars per head;"
and when fPr this no remuiierationwas riiade to many persons, as there
was only to some, by higher prices obtained for their labors :and merchandise exchanged, the increase alone was four times as much'as theaverage tax imposed by means of all the great duties on foreiga merchandise. On the preserit occasion the rindersigned would forbear from
entering further into the cDiisideration of various other matters connected
with this interesting subject. But.when the infjiience of it upori different portions of the couritry is traced into someof its numerous bearings,
and carefully weighed, riew topics of inquiry are presented,, which will
be found to have-an intimate conriectfori not only with the value of some
of our staple exports, but in .other'respe.ets with the vital-prosperity of
large portioiis of the Union. '
. "
. • ' ^
v . F U R T H E R E X P L A N A T I O N S AS TO T H E R E V E N U E AT^D E X P E N D I T U R E S F O R
1 8 3 7 , AND T H E

E F F E C T U P p N . T H E M B Y L A W S P A S S E D Al? T H E L A T E

• S P E C I A I : S E S S I O N , .'

..

.

• - ' "

.;

'^•.

r - ' ' ^ ' ':''•'

It maybe interesting to Congress to have a few more details concerning the receipts and expenditures of the current year.
The receipts within it have been diminished by recent legi.slation over
four milhons.. Had ,the duties not been postponed the revenue from iall
sources, after "deducting the expenses of'collection and . other charges
usually imposed. on it, would not iri the a:ggregate have differed materially from the estimates.formed by the Dqp.artmentin Deqember last.
Tlie receipts duiing• the" current. half of the year have also' thus far
corresporided with the views presented'by it at the late session, except'
that the postponement of duties subsequently authorized by Congress
has not been so uniformly accepted as was anticipated, and a portion of =
the current expenses^ of collection, including debentures and bounties,
has under a new la\y been paid, from the Treasury, instead of t)eing
deducted, as formerly, from the acqruing revenue before it goes into the:
•Treasury. ' '
• •'. ^
' ••^' - '
- .• /•' , ' -^ \''"'
;..'••'•.
It should also be explairied that the estimates, of receijpts for any par^/
ticular quaiter or year, though made accurately, will often vary .fi'om'
die subsequent official statements,' because the money is riot cariied b y
warrant upon the books of the. Register till after it is placed in sPme
public depository, or actually paid out b y t h e collecting officer on speciai drafts. ,
•' :
^
• . ;. '
In ordinary tiiries the results would not be much changed by this qircumstance, but during fluctuatipris, such as have characterized the last
two or three years, the differerice caused by it may occasionally exteiid to
'>.




1837.]

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

97

some millions. Thus large sums will be. technically cariied into the
Treasuiy in the last quaiter of 1837, and stand on the books credited to
that quarter, when in faqt the riioney was collected and subject to the y
orders of the Treasurer in the first half of the year.
•
The expenditures have not yet essentially varied from the amount anticipated in September* In order to defray them it was then supposed
to be necessary, under the existing laws and liabilities, to postpone the
fourth instalment of deposites with the States or adopt some other auxiliary measure. Experience since has confirmed the opinion that under
tliose laws it could not have been placed in the custody of the States
except in funds,^ and in a' manner 'veiy inconvenieht, as well as with
xpnsequences requiring an inimediate recall of other deposites with the
States, which -would have been exceedingly embarrassing to thefinances=
' of both them arid the General Government.
, The postponement of that instalment, therefore, afforded great relief
to all concerned, and left the resources of the Treasuiy entirely, at liberty to be applied in the necessaiy discharge of the apjDropiiatio^ made
. by Congress..
' •.
^
-,
Those resources would have been sufficient forthat purpose had no ^ ^
'X
fuither legislation taken place. But the delay Which was afterwards I
granted beyond the year for the payment of almost all the duties, and I
the still longer delay which w a s profferecl: to the former deposite banks, |
and accepted by several of them, for the adjustirient of what the3^owed |
to the United States, gave rise to the necessity for a temporaiy issue of \
. Treasuiy notes. • .
.
^
The Departmerit, with, the aid of them and its remaining resources,
has, notwithstanding those indulgences to the public debtors, been
•enabled tp meet the great demands upon it with punctuality and in a
manner whiqh, considering the severe embarrassments of the times, is
believed to have generally proved satisfactory.
It now appears probable thatduring the next year means will be
possessed without any permanent loans, recall of former deposites, or
increase Pf taxes, sufficieiit to redeem seasonably the Treasuiy notes that.
become payable, as welh as to meet all t h e ordinary appropriations.
Some difficulties have arisen in the construction of the laws granting
further delay to the merchants and the former deposite banks, but they
have thus far been enforced under a liberal yiew of their object, and in
this manner are supposed t o have afforded sensible rehef not only to
those immediately interested, but through thern to the people at large.
In respect to the act for setthng with the banks, some of them since
September have paid over all the public money which than stood to the
credit of the .Treasurer. Others are supposed to have executed bonds
according to one of its provisions, and several fue preparing to do so,
with a view to receive further indulgence. The remainder are expected
to discharge, without suit or bond, the amounts they respectively owe,
as may from time to time be needed to meet the public exigencies.
The payments which wiU probably be lorigest postponed will chiefly
be from some institutions situated in the West and Southwest. The
accumulation happening to be there, not by transfer from other quarters
but by receipts on the spot fromthe sales of pubhc lands, it was una-:
VOL. IV.—7:



98

R E P O R T S OF T H E

[1837.

voidable under the existing laws. Nor could it during the axqessiv0
overactions of the tiines in banking and speculatioiis of all kinds hava
been lessened any further than was atteiripted by issuing the specie circular, and by refraining to offer any ,iiew tracts at pubhc sale unless laws
had been passed, as was recommended, to restrict the sales to actual
settlers, or, as since proposed, to authorize, the receipt of payments; elsewhere.
, '
';
' ,
.
^.
^ But a suitable portion ofthe money, after being receiyed inthe Wpst
and Southwest, was in due season put undei'-transfer to, the Atlantie
States. In May last, the: stoppage of specie payinents, and; the corisequent discontinuance of most of the public depositories, prevented manyof the drafts for remittance, which were then outstanding, from beingexecuted. In order, therefore, to discharge satisfactorily the current,
payments of appropriatipns, and the. July transfers to. the States'on the
Atlantic, it became indispensable to draw larger amounts from the banks
situated in the latter quarter of the country. While this afforded. a
loiiger fidulgeiice to the West and Southwest in the use.of the surplus
which liad accumulated there, it is gratifying to reflect that all just cause;
of jealousy has been removed, and any sectional benefits frorn delay in
paying over the public money equahzed iri a great degree, as the Eastern, Noithern, and Middle States,were at the sanie time allowed to enjoy
I " a hke indulgence through their merchants^^rather than banks in thje use
Y of the money due to the Government for dutiesiristead of lands.
In the execution of the: other- promineiit measure ad opted at the last,
session, which permitted an issue of Treasuiy notes, the Department
has not yet been required by the public exigeiicies to make a large one.
Nor is any occasion to keep out a'great ampunt "of these riotes anticipated;;
Entertaining such ppinions conceiiiing the currency as have been
•formerly expressed by the undersigned, a]ay event would be greatly •
deprecated which should lead to a -permanent-emissipn of such notes;
or any kind of Goyernmerit paper, except for temporary puiiposes, and
in small amounts, unless it be founded entirely on. specie,* aiid redeemable under circumstances similar to those explained at the last session..
The raiige of the firiancial operations of the present .year has been:
very extensive. If the receipts from postages, from the sales of the
Chickasaw lands, from foreign indemnities,.arid all other trusts^ were
included in the coridensed statement of the finances^ the.entire .-amount:
carried into the Treasuiy during the yeair, with t h e balariqe on the 1st.
ofJanuary last, would-exceed $79,000,000. But, withput entering here
into explanations in detail under thos^e heads, itwill ap.p:eartin:the appropriate reports that, so far as connected with this-Depaitment,.an attempt
has been^inade to conduct the whole in as clbse confoiiiiity as pPs.sibla
to the acts qf Congress. Notwithstandirig the unusual magnit.u.de and'
difficulties ofthe duties devolved upon the Treasury Department during"
' the year, it has scrupulously endeavored not to assurria ariy doubtfulpowerSi Norj as a tn.ere executive branch of the Grovernment, has it felt:
justified, under qircumstances orreasons,.however plausible, to perniit the
pubhc funds to be.employed otherwise than on objeGts,.and,in a manner^,
that appeared to be clearly wajrrante.d'by the limitations of the laws, and
those principlas.^strictly applicable.to^mere .financial <operatipns.i



1837.]

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

VI. EXPLANATORY
•

REMARKS ON- THE ESTIMATES
EXPENDITURES FOR 1838v

99

OF REGEl^PTS AND

Tberecqipts frpni duties during the next year have, been estimated:
q-uite.four millions higher, in eonsequence of the recent act of Congressbringing within it the payment of a still larger anioiint which. oi;iginally
felLdua in the present year. • Iridqpend^nt of that, circum.§tanea,:^
considered;pmbabte that. theyvW^ould.much exceed |,lp.,50P,000. The
reasons for this, opiriion- ai-e, that.a further reductipn of two-tenths ofthe
present, duties j-AV bich remain at a rate of ^ o r e than twenty per cent.,
takes effect after the 3ilst instant, aad that :thedepiiess.ipn of trade during,
the Jast half of the year has. been severe,, and is. likely to: qpritinue so: for,
• sprrie tinier * The actual iinports,j during the liquarter; ending in .September^ having been pnly at the rate of abpHt iiinety milhons annually, and
the 'ayarage iaiports from 18,24 tOi '1830, before; the cpmmenceriient ;0f
the late:exc^e,s.ses,,'having beea a:bout eighty-two rnillioiis, it is Adeemed
safe to compute that they will nPt. in 1838 exceed forty per. cept on
that average^ or about one t w i d r e d aridfifteen millioris. . Oii the suppo• sition, that;pna half of them y^ill be free, and the. n:et duties .recqiyedon
the other half wiM riot qxi^eed t^yentyrfiyq per cent, the amount paid
into the Tireasury for them withii;i the. year,.ind.ependent of the ppstponemant above named? y^ould not yary much .frqi^thiiteen and a half
millions... • . , ' , • , . . • . . . . - .fi^ y''fi[ .•. \ .,
:•/••:-.,.
:•.:.•_
The receipts from the sales ofpublic lands ha:ve likewise beeri estimated
one milhon and a telf iriGt^e thari they Wipuld,^^^^
if consiclerable
sums were not expected to be deiiyed frpm the incireased sales of tracts
newly'brought into iriarket, and from, the ariticipaited'passage of another
preeriiption law:. It is .supppp^ed t h a t . t ^
deemed so
important by many of .the .pioiieers pri-.; pui^ frontiers^ Ayh^ hardy pwr.
suits, exposures, and ^various priyatipns, are: often ,^so useful to die.
c.ountiy :at large, -will mjeet with fey^^^^
be .more stiiqtly
guarded and;lirriited,;^than othprs of idie kirid have:he^
been;.:
Those objectioas will -perhaps,be lasseried still furthqr,;if it :is considered;
that the irevenue tp be at.ouqq derived from,the^rnaasurew^ou^
much to the effieienqy of; our fiscal .operations, arid that; from the experi.encepf,niany yeaiis the net. receipts frora the, s.ale^, of pubhc: ^^^^ are
^^^
npt likely eyer tp surpass, in, ariy :great degree;, the^ minimum price per:
acrerwhichis paid, by those hayir^
;,.
' .
< Without the.passage qf soipe suchlaw^ Or the.pterqflai^e quantities
of:new lands, the. undqrsigried is .uriabie tp: p^erceiva .aay .sound reason,
for .estiniating the sales very differently .Iroiii ^ h a t - h a s -be^n done by^
him for some yeai:s past. Publip sales cannpt ,be :rieeded for:cultivatip;ii
much beyond three milhons of acrqs a.yBa)r,.while sp^many priyate lands
are in the markqt as 'have-: been bought .for resa^^
three
years. If a demiand should ^ .exist for niore .than .that quantity,., except
the gradual increase'with the increase of io.ur popuiatipn,.it;y;ril<l^;^^^
be the result of .qauses acciderital, or trransient^ pr of ne^^ i^gislatipn*
It may be usefulto add .a few gener^^^ illustrations-of .tha.reasqns f6?V
some qf,the small qstimates now submitted,,and of the int^5asi9^<^
\




IOO

R E P O R T S OF T H E

.•

-

[1837.

ties in attaining much certainty conqerning them duiing crises of overaction and revulsions hke the past and the present. Whether they occur
from overtrading, overbanking, or other excesses, and the depressions
.consequent frond'them, tlie firiancial history of this countiy shows strik\ ingly how much our system of business is exposed to them and the
Vastonishing fluctuations they produce.
•
'
/
Duringthe two years before the reyulsions;in cbmmerca in 1819, and
/ including that year, the sales ofpublic land exceeded the unusual amount
of nearly thiity millions of dollars, while in the three following years,
they fell, to only about four' millions, or less than one-seventh. Thq
system being changed from crqdit to cash may havacoopemted in pro' ducing this result; though at the same time,the minimum price per acre
was reduced, in order, im spine degree, t o counteract the effect of that
change.' In the second; and third quarters of 1836 also, the receipts
frOm the sales pf land increased to riearly fourteen millions ofdollars,
j. while in the corresponding quaiters of .1837 they diminishecl to only
1 two and a quarter mi'llipns.
^••
:fi In truth the number-of acres sold, sincP the 1st of Januaiy, 1835, has,
/; reached the extraordinary quantity of thirty-seven and a half miUions,
and thus have the sales so widely departed fi-om all precedents, and
every ordinaiy principle of calculation, as to equal in ;less than three
years, however incredible the faict niay appear, the whole made during
I . the forty-five years which had ^befpre elapsed from the adoption pf. the
V. Constitution.^"' ,•';•.. •' • • ' ; ;";'"'' •:'";";;': y. -'.r^. '• • •••;• :':: ' • •/.
Siriiilar'fluctuations have happeriqd in the amourit.of our imports, and
consequently in the amount of duties.^
•
;.
;' '
/ ^ Thus, in 1808, the imports, affected by restrictiye legislation and .otheiv
causes, fell off at the unprecedented rate of over eighty milhonsof doUars,:;
while in 1815, influenced by the transition from war to peace, an increaseof impoits equal to one hundred millions, and. an increase ofdutiesfrom
customs alone equalto nearly thiity rriilhons, occurred in a single year;;
It may be remembered, jalsp, that from 1818 tb 1822 the vibrations from;
mere commercial, causes were almost as sudden as .those incident to war j
or any great changes in legislation. ^ Thus the iniports dirninished. frpm:•.
over one hundred and twenty-one riiillioiis iri 1818, to drily abPut eightyseven millions iii 1819, arid to only about one-half, or^ixty-two and a
half millions in 1821. They feU neariy sixty millions in value in only .
three years,'and in thelast two pf thern the reyenue from duties dimiriished also more than, one-third. It deserves special riotide that these
were years embraicing a period of peace, of free commerce^ and the fullaperation of the United States Bank. The'piice^ofcottori also foil
duiing the same period oyei* one-half,, ancl the priqe of flpur from ten to
only four and five dollars per barrel. - The extent of these vacillations
^
has been sp unexpected at 'some periPds, that in 1816 the receipts from,
customs exceeded, the estimates by neaiiy-fifteen millions ofdollars,,
\
though. the latter were riiade by Mr. Dallas sevefaf irionths after the
X^relations of peace had been restored and its influence experienced.
/ ^ The imports during the ia;St quarter of- the commercial year just
ended have furnished ariother signal illustration on this brarich of the



1837.]

SECRETARYOFTHETREASURY.

101

subject. As before mentioned,}they sb fluctriated that, if continued for
twelve months at the reduced, rate, the falling-off would nearly equal
the extraordinary amount of one hundred millions of dollars.
Some further explanations concerning the estimates for the expenditures may be useful. •
; ;
:.
The addition of between two and three millions, which has been
' made on account of the large amount of appropriations, exceeding fourteen millioris left outstanding and chargeable to the next yeax, will be
found reasoriable when it is ° remembered' that the average amount
annually left has not in genera:l exceeded six milhons., , The propriety
of adding also the contingent sum of at least one million; of doUars to
cover appropiiationsmade by. Congress beyond the estimates, has been
• so.fully tested by the experience of several years past thatthe correctness of the measure may be considered no longer doubtful. But the
usual excess of appropriations thus made by Congress is not imputed
by the undersigned to any special inattention or extravagance. This
item has; of late years been introducedintp the estimates because it was
found that new treaties, hostilities, or other events, often require. the
Departments, before the sessipn is> closed, to offer estimaites for fuither /
appropiiations. • .
"
Sometiraes, commendable measures of a public as well of piivate
character originate in Congress, and consequently are not included in
the estiniates of the Departments, but which justify additional appropriations. Sometimes, hkewise, acts are passed for an indefinite
amount, which involve in the end an expenditure far beyond what was,
or could by any ordinary foresight be, anticipated, during the passa:ge
o f them.
..:•;
^
., ,
-;
• .
^ The estimate as to - the receipt, of Treasuiy notes has been placed at
five millions^ or only a httle beyond the amount which faUs due and is
obliged to be redeeined within the year.
But as aU -of those issued, whether due-qr not, have been made by
law receivable at ariy: time for public debts, and the right to reissue
them even during the year is prohibited, it must be manifest that the
receipts or, redemption of them will be hkely much to exceed that
ariiount, and to produce to that extent, a deficiency, if the banks do not
resuine specie payinents so as to aid m supplying a sound currency to
pay into the Treasury instead ;of them,' or unless the prohibition to
reissue them during, the year be renioved. ; , ;
'
, The whole expenditures duiing 1838 for new appropriations have
been estimated Ipwer than those of last year, on account ofthe reduced
wants of the Government'and a wish to. economize wherever the pubhc
interests will:permit
.
\
.
It is believed that,, if wars or other exp^ensive contingencies do not
intervene, the expenditures can A gradually be diriiinished till "their
average in ordinary tiiries shalL.not exceed seventeen or eighteen millions of dollars annually.
; ;
;.
'.
The expectations of such a reduction whiqh were formerly cherished
and explained by the undersigned, -were likely to be reahzed; when an
extraordinary increase in the revenue indaced Congress to adopt.the
.system of completing:"sooner many pubhc works of great usefulness,



tm

R:EPdRT$ OF THE

:[18^7-

and of effecting: :ari ,ea;rler extingriishmarit of Indiari titles, with a
speedier removal ofthe aborigines beyorid the Mississippi.
The charges on the Treasury during each of the two last yeaifs for
these objects, as .well as fo/graiits t o the Districtof Golumbia,'and for
expenses of the Fforida war, have nearly equalled the whole excess df
expenditures in each year aJbove that average. As the surplus has
"ceased to exist, which was one chief iiiduceiiient to any iricreases of
expenditure, except on account of the Florida war^ a^rid w a s a t t h e same
tirae one ground for their justification, it seems probable that all tfre
Suitable ^i-eductioris can soon be accoriiph^hed. A rigid regard to?
econorny arid sound .priri<ciples of public pdlix^y, if persistediri^ will easily
save the countiy from the b'Urden of a riatvonaldebt, and,.withp"rit any
wastefulness iii expenditure^ will, eriable it to .sustain, eveiy valuable
instrtution iri a vigorous dPriditiPn. ,
• '
:
;,
Should some questions urifoitunately occur whi.ch irivolve natibnal
honor, or are intimately cpmiected Avith public libeity, ariy seicrifice .of
money within the 'coristitutibrial powers of the.Governriient that may be
necessaiy to the 'security of those 'great objedts, can then be iriade from
our ample financial resources without prbdricirig any general "distress^
or departing from those habits of frugality in pubhc as-well as private
hfe -which are so indisjpensable tosustairi republieaii iristitutioris. ?
vn.

ON THE B A N K S ; A N D OTHER M A T T E R S COIifNECTEP WITH THE COLLECTION, KEEPIN(&, AND DISBURSEMENT 0^^ THE PUJBLIC MONEYS
:

The views of this Department upon several, topics CPririected with the
collection, keeping, and disbursement ofthe public money have, beeii so
recently piaserited, that only a fe\v"additibnal remarks concerning them,
will be offered. The coridition ofthe bariks was one of the most prominent of those' topics. To prevent aiiy misapprehension it may be pibpei:
to repeat the as'surarice, that no; wish, has ever
felt to iriterfereimproperly with those institutidris. ^ While chartered arid used solely
for local purposes, the regulatiori arid cPritrdl of them are supposed to
belong exclusively to the States. But their; organizatiori as wdll as
responsibilitiesj and a^ early reforni in bothj beqa:ine question^ of great
impPrtanca to thd Trdasu.i^ when, ednneeted with them, as heretofore,
iri the capacity of, either public depositories or the sources of a portioii
of the currency received for public dues* Experierice for several moriths
past is full of iiisti'uctive lessons on these points. Indeed,.every brisis
in pur pecuniary affairs has terided greatly to stiaiigthen the convictiori
that evils exist in bariltirig in this cPuritry Hvhich are inhdreritin the system as weU as in the admiriistration of it. ^A.wide departure has-been
made froiri the priginalpririciples of havirig.its issues of paper rest ori a
foundation qohsistirig of specie aldrie, and that usedririddpositd chiefly
for commercial objeets.: Whde regulated substantially in this manner,
banking was riot pnly an iristrumerit of conveniencd to trade, and soriietimes td^fiscal opei'atidiis, but safe in practice, and not incoiisistent with
any sound theoiy as to currency. But when, the system'is changed so
that the p a ^ r issued restsi like:iri!efe.;bi^^
ahnpst exclusively Pri creditj and that credit not alw
"guarded in thd" best- prac-^



1837.]

SECRETARYOFTHETREASURY.

103

.ticable methods, such a currency^, however profitable or convenient to
those interested, must become exposed to many of the vicissitudes of
commerce, forfeit most ofits origirial character as the actual representa-rtive of moneys and lose its security in a considerable degree as a circulating rriedium for the use of either the commanity or the Governnient.
Under such circumstances, that calamity, to a greater or less extent,
will ofteri ensue, which happened during the last spring. As the failure
to redeetri their bills in specie then extended to most of the banks that
had been employed in' the capacity of public depositories, it became
propei^ t o explain to Congress, at its late sessioii, the injurious influence ofthe measure on the financial operations of the Governmerit, and
the losses thus caused to its nuriiei^ous creditors among the various
classes of society, with those preventives a:s well as guarantees against
thern hereafterwhichrseemed appropriate and feasible. Perhaps it is
ript now necessary to enter further intp that subjectin order to discharge
the painful duties which Sll ch a state of things imposed upon the head
of this Department. In consequence of what occurred. Congress passed
an act to facilitate a settlement with the deposite banks, which, as
before observed, is in the course of execution, and which is the only
new mea.sure Pf legislation adopted by both Houses that indicates the
future relations interided to b e preserved with; these institutions. But
as~the condition of most of the banks throughout the United States since
the; suspension of specie payments might have ari important beaiing on
this and other subjects connected with fiscal Goncerns, an extensive corresponderice has been opened in relation to it.
The result, so far as their affairs can be asceitained yvith much
accuracy, AvUl now be presented. Their condition, as a whole, does
riot appear to have altered very materially duriiig the year in respect to
the relative proportion'of all their immediate means aiid liabilities; but
in several other respects, the changes have beeri essential. One poition
of the new returns whiqh/have been procured is dated near the 1st of
Jariualiy, 1837,-.a fevi^ mon-ths before the suspension of specie payments,
and another poition,. classed separately, is dated a few- months subse^
quent to the suspension'. .Within that time the whole discounts appear
to have bean reduced only about twenty milhons of dollars, still being
over five hundi;ed riiillioas.
The net or actual circulation of baink paper is-supposed to have been
• Curtailed but sixteen or seventeen millions, leaving over ninety-nine millions. The deposites have been lessened thirty-six, but they are still in the
large amount of ninety-three miUions of dollars, and the specie on hand
has decreased Iriore.thari eightrii-iUionsof dollars. How much of these •
data depends on estiniates, and how much on actual returns, can be seen
in the taibles aririexed, (D. and E.)
\
'
The second one, though less full, contains some striking evidence on
the comparative and very different ability to sustain specie payments in
different quarters of the country, as well as on the different exertions
which have been made to I'esurrie them. From its contents the unreasonableness mentioried in September last seems stiU rriore" apparent, of
expecting the exertions of ^inany iand the duties of the whole to wait iri
tbese reispects ori the means or qoiivenience of. a few.



104

R E P O R T S OF T H E

[1837.

These returns exhibit some improvement in the affairs ofthe banks in
the aggregate as the sources of much of the currency. But they furnish
at the same time new confirmation of the great excesses in issues which
in some places, notwithstanding numerous cautions, had before been
indulged in. They show, too, that the whole reduction in the active,
circulatiori had not, at their dates, equalled by neaiiy twenty millions
the amount which, as long ago as last December, it -was computed by'
this Department would be required to restore the paper currency generally to a safe basis, and make it, with the;specie iri actual use, b e a r a
just proportion to the real wants of the community? But the continued'
reduction in circulation and deposites which since August has probably
been persisted in by several of the banks, must', if effected in the most
judicious course by a curtailment of their discounts, have served by this
time to place those institutions in.a more eligible condition to resume',
specie payments. Where, this reduction has been accompariied by any
considerable increase rather than .diminution df specie, the ability to
resume and with proper restrictions and care hereafter to sustain specie
payments must approach veiy near the point requisite ,to' insure publia
confidence: because the rate of foreign exchange has been so far,
reduced as to be near the real par in specie, and seldom to permit the
export of it to advantange, and the habilities of the banks to the Government, which otherwise might press upon.them in case ofa resumptfon,
are in most cases either" discharged or in a train of postponemeiit, or
inconsiderable in amount. '
,
..
\
^ ::
The recent imports and exports of specie have an important bearing
in forming a correct opiniori on these .questions., The impoits appearing
on the custom-house books have, during the year ending September SOth,'
1837, been ascertained by the weekly returiis to be $10,954,332, while
the expoits duiing the same peiiod have been only $6,711,990. Other
returns, when all received, liiaj^ shghtly differ. - Undoubtedly the whole
actual impoits and exports, whether oii the books or not, have exceeded
these amounts; and thpugh the excess has probably been greater ori the
part of the exports, yet these last cannot safely be.computed to. have
gone beyond the imports. The invariable laws that govern trade and
the currency have thus indicated a healthier, qondition of our system
than would otherwise be inferred from the general arid protracted suspen- '
sion of specie paymeiits by most of the banking iristitutipris. . ^
The addition ofabout forty-five iriUlions of specie which within four .
years past has been made to the quantity that was befbre in .the United
States may have enabled persons to increase bank capital and bank
issues in places where the restrictions on the latter were loose:; but that
the natural tendency of it, as supposed by some, has been to derange
the currency, as well ..as the commerce, not only of these States but of
Europe, is an opinion that canriot have, much foundation in any safe
principle of political economy when it is considered that the. currency
of Europe, in specie alone, is computed to exceed eleven hundred mil->
hons of dollars, and of the world, to be nearly two thousand millions;
and its gold and silver in yaripus uses to equal from five to seven'
thoiisand millions. It is worthy of notice, a l s o , ' t h a t t h e additipn of
specie above nientioned, though large.compared with the amount pre


1837.]

SECRETARYOFTHETREASURY.

105

viously possessed, has hardly equalled the net profits on the single article.
of cotton shipped from this country in the years 1835 and '36.
But whatever obstacles may stiU exist to, a general resumption of
specie payments, few can doubt that as:early a one as can be sustained
is urgently demanded .by the: strongest obligations of morals and l a w :
by justice to the public creditors, consisting of numerous contractors,
mechanics, laborers, and pensioners, as w e l l a s officers; and by all the
true interests ofthe people, whether in private affairs or iri the conqerns
of their Government. In bpth are their interests in this respect inseparably connected; arid in.both do they severally suffer by depreciated
paper—as the tax thus imposed finally reaches the; community in either
case, and usually in a ratio quite equal to the, rate of discount on the .
paper below, specie... ,The powers qf the General Government to hasten
such a resumption are circumscribed to the • use of some constitutional
authority of a restrictive or penal character, suqh as taxation, or a bankrupt law, when the suspensioii appears;in :its origin or.lorig continuance
to be clearly unjustifiable; or, when otherwise,:to the furnishing of some
incidental aiid in the exercise of other rights.' The latter course is the
only one which duiing the present suspensipri it has yet appeared proper
to adopt. In pursuance of it, the mode of making most of the public
payments since May last; the manner in whicli the July instalrnent was
placed with the States; the delay granted for more than a year in paying
the fourth one, giving thereby-a temporaiy aid, as substantial to several
ofthe banks as to the Treasuiy; and.the: liberal indulgence offered ,to
them for the balances still d u e to the United States, were all measures
of relief, and have contributed to strengthen their immediate means for
the resumption pf specie, pay ments. .
. .
Beyond such incidentar aid to some of the banks with which fiscal
connections may have existed, not,generally equalling.one-twentieth of
the whole number,:it i s doubtful whether the ,.General Government,
however sohcitous.to see that object, accomplished, would be able, con• stitutionaUy, to pro vide'any .special assistance in effecting.it. ^
It must.be manifest to all who.examine the subject dispassiPnately,
that either the/possession by aN-few banks of the usual small amount of
public deposites liable at any time to be recalled, or the receipt of their
bills for public dues when' redeemed in specie on demand, and frequently presented for that purpose, must often be a check rather than
an aid; and prove; of doubtful advaritage- in prdmoting a resumption
among the whole number. It must be equally manifest that the chief
reliaric.e of bariks to perform their legal obligations must, like that of
iridividuals, alv^ays be; placed on'their own resources. The highest
considerations require that these should be regulated by all suitable
legislative restraints, and employed, with foresight,,moderation, and the
'strongest sense of justice to the public, to sustain on a; par with- specie
the currericy they issue,,and which, except on the qondition it should be
thus sustained, the public would never have qonfided to them a power
almost, sovereign fd create.
; ^ ,. : "\^
.
. It has been a source of some inconvenience/under the existing laws
that none of the bariks^have, resumed specie payments sirice the late
session which are knoy^ri to ba willing and competent under all the pro


106

R E P O R T S OF T H E

,

[1837.

visions of the deposite adt to-be selected as fiscal ageats. Several which
are paying specie haVe expressly decliried taking the-public moriey under
those provisions. The mode of keeping it is therefore impei:fedt,. withbut fuither legislation. Every exditiori within the powers riow existirig
has been made to inqrease the sequiity of it, aiid the Dep'artment' has
for seyeral months been enabled by uriremitted attention to conduct successfully the temporary arrangeriients Which are in force for that purpose. But till Congress shall sarictipn some new system, or revive the
whole of the old,one in force before 183'6, or till specie payments are
resunied and the deposite act mateiially ainended, those arrangerrients
must be greatly enlarged by doubtful cPristructiorisV oi* remain exposed
to several of the inconveniences incident to all these plans without soine
of the remedial powers and advantages of eithet. .
'
On the prafcticability of keeping the public money under new legisla-.
tive proyisions. without using banks at all as fiscal agents, the views of
this Department have been so recently explained, as to rerider a repetition of therii unnecessary.
^
.'
, '
It was the endeavor'of the uridersigried to present with impaitiahty
the advantages and disadvantages of both systerils, to show the -expediency, if not the necessity, of the new one iri' the existing unfortunate
attitude of rriost of the banks, and to leave the result, where it is. now
left, to the superior wisdom.of Congi'ess.:
A similar course was pursued iri respect to the kirid of rnoney'to be
received for public dues, whichhe regarded arid still considers a question entirely distiriet, though often viewed by othei-s as inseparable.
While offering reasons why bank paper was occasionally riiore cori-:
venient than coin as a currency for the large arid distant. purposes of
commerce, and why the exclusive use of coin for'all kinds of payments
could not at present be intrdduced- and might never be desirable,^it was.
insisted that, so far as it should be employed in public affairs, iand with
whatever liitiitations as to: tiine oi; amount, care must be exercised
td adhere to the spirit, of the Gpfistitution arid the first principles of
political economy, by always requiring it, wheri- and where taken, to be
equivalent iri value tb specie. This-bpinion w^s not eonceiyed in. aiiy
hostility to the true principles of credit, or to banking institutions'duly
regulated, or to a sound currency for the people; On the contraiy, it is
supposed to favor them all, aind to be indispensable to u|>hpldthe trud
standard of value for property and labdr throughput the couritry; to
sustain the just obligation of qoriti'acts, and in a peeuiiiary view preserve
the real worth of all private ^s well as publife rights^ ;
The ensuing session will by its length, probably,.afford,ample time to
place our whole finanqiafsystem on a proper ;basis. . Nothing new. will
be required except such rneasurqs as ai^ reridered neeessary to its efficiency by the changes which have ariseri frorii the .final discharge of
the national debt and by the more fluqtriating'character of the receipts
and expeiiditures, as well as by the recent suspension pf specie pay^
ments on the part of most of the deposite banks. ; "
; ,
The undersigned, feelirig a deep eOiiviction that the fiseal affairs ofthe
Goverrimerit cannot hereafter, urider ainy system, be iriariaged with
:^uch faqlBty and vigor as the public service tequires withbut adopting



1837.]

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

107

several legal prpvisions heretofore recommerided, hopes to be excused
for briefly inviting the attention of Congress-orice rriore to a few of
them.
/
*
\
First. That a contingent authority be -given to some appropriate o 0 i - \
cer, to invest safely any considerable surpluses which shall casually occur ^
in the receipts beyond the expenditures^ and to dispose of such investments when defidiencies may happen which require it.
Second. That a limited power be granted to issue Treasuiy notqs for \
irieretenipdraiy purposes iri case PfdefiGiencies'when no such surpluses
^
exist, and to redeem them as excesses may happeri. Beside other
obvious r^iasoris in favof of such a provision, it would enable the Departriient to .adiriiriister the firiarices with at least two oi* three millions less
in the Treasury at any one time than would otherwise be necessary.
Iri fixirigthe system on a durable ba:sis, the"grant pf both these powers
seems expedient as a providerit arrangement,- w-hatever course may at
%riy future time be pursued iri: regard to the recall of the present large
dapogites.placed by the Gerieral Qoyeiiimentw
\
Third. T h a t t h e additional duties of genera;l depositories be imppsed
Pn all ••redeivers and coUectors of publie riioriey, arid on the Mirit and its
branches, as welias the:Treasurer ;at the §^^1 of Goyeriirneiit, under such
, 'regulations, in respect to ^disbursements and transfers, as have before
beeri iridicated. This dhafrige riiight judiciously include rin authority to
• employ separate depositories, special or general, individual or corporate,
linder .the circumstarices arid responsibilities suggested at the late session, if the amount in possession of any eoUecting officer should generaUy
exceed what is well secured by dffieial bonds.
'
Whether these provisions be iri the discretion df Congress left to constitute the whole, system of keeping and disbursing the public moriey
or only a pait of it, they form a change which would undoubtedly be
yery salutary. .
\
'
.,; Fouith. iThat permission be givento receive payment in advance for \
the public-larids, at such places as this depaftrherit may appoint, for the
convenience of-botii the Tfeasufy^a^^^
Fifth. T h e eltensiori of the warehouse system, in^ connection with S
•requiring all duties On iinports ;to be paid when the goods are taken out
for corisuriiptiqn, is anPther change which, though less urgent in some
points of view, is very desirable in respect to the coUection and security
of the iriost important .portion of thd priblic revenue.
•
In the • cdnsideratidn of these prdpositi.oris the present condition of the \
finances and of the country is a circumstance of the first and most de- ^
cisive importaricd. We are without any iiational debt.to absorb and
fegulate 'surpluses, or ariy adequate supply of bankiiig. institutions which
provide a sound currency for • general purposes'by paying specie on
demand, or vvhich are in a situatipn fullyto command confidence for
keeping, disbursing, aind trarisferiing the piublic funds in a satisfactory
rrianner.., It will not then be a rriatter of surp rise.that the undersigned,
feeling daily arid riiost" sensibly the diffibulties, a^ well as the great
reSpbnsibilityj of conducting the concerns of the Treasury without the
adoption of .these rneasures, should press thern upon' the earliest con-




108

R E P O R T S OF T H E

[1837.

sideration of Congress with an earnestness and perseverance that might
otherwise not appear justifiable.
•
v n i . SEVERAL MISCELLANEOUS MATTERS.

.

Occasion will be taken, during the session, to present sep'arate reports
concerning the Mint, the Land Office,, and some other sabjects under the
general superintendence of this Department.
;.
. ,: '
A revision of the number and compensation of custom-hPuse pfficers
has for some years received the attentio.ii of Congi'ess.
,
The public welfare, as well as .equal justice to various incumbentSy
appears urgently to require further legislation upon this subject at the first
practicable opportunity. •
'i
«.
. •
The.recent law postponing the payment of duties has for some time
deprived severaLof those officers of a great part of their cPrnpensation;"
and new legislation is required, not; only for temporary ^relief, but to
remunerate thelosses which must happen, in many instances, in case of
death, resignatfon, or dxpiratioii of office.' ,
. , . ; ^";.
The reorganization of the Treasuiy Depaitment, sp as to empower
one of the present Comptrollers to act solely in the capacity of Commis-,
sioner of the Customs,- devolving on him also. all.the other apprppriate
: business of the marine hosp'itals, revenue cutters, and hght-liou.se establishment, was pn a former occasiori recommended, and is still considered,
b y t h e undersigned a ineasure very deserving of attentiori.
Considerable progress has been made in the interesting subjects'ofthe
survey of the coast, and the preparation of standard weights and.measures for. the several States as w e l l a s for the United' States. -.Tt wiU bq
fully explained in special cornmunicatiPns. . "
'
v.
Some further: authority to sell or apportidn the Spanish inscriptions
which belong to the claimants under the treaty of indemnity, is desirable, as the payments on them seem exposed to qorisiderable dqlayv It .
is gratifying to be able to coriimunicate the fact'that .under the French;
treaty, in addition, to what has heretofore been paid to t h e claimants on
the first four instalments, another surii for interest, .amounting to one.
million, twenty-two thousand :one hundred and eighty-five frauds, has
probably been paid, which wjU be apportioned: ainong them as soon sts
it can be.remitted to this country.
. ..
:
. \ .: ;.
Several resolution's of one or the other House of Congress, calling on
the Department for special information to be submitted at the preserit
session, have received careful;attention. ^ ' ; ...
• .
The most important of theiri' are such as. relate to ai. system of telegraphs; the proper sites for riiore hght-houses on a pait of the Atlaritic
coast; the plans most suitable for several marine hospitals; the defaults
unadjusted of, all collecting and deppsite .agents' since the foundatiGn-of-.
the Government, and copies of the returns, of specie and bank paper'
from the land offices and pubhc depositories since the adoption of the
specie circular. These are all ready to be reported, on at an early day.
This Department, by a resolution of the Hpuse of Representatives,
has' also for some years been engaged iri procuring, through the Frankhn



1837.]

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

109

Institute, a series of experiments to be made on the strength of the
materials employed in steam-boilers, and the best methods of preventing explosions.' ' • '.
• ^
,. , .
^
Several able communications concerning these matters have been
made .by the Institute, and were heretofore submitted to Congress.
A final repoit on the whole subject has been completed since the last
arinual session, and a printed copy of it for each member will be laid
before the House in a few days.
An anxious hope is felt that the great care evinced by the Institute in
an inquiry so iriomeritous to thesecurit}^ of property and.hfe, and guided
by all the lights of science, will not have been so long devoted in vain,
but wiir lead to useful legislation by the General Government as well as
the State Legislatures. The incfaased arid increasing iinpprta:iice of the
subject must be offered as an .apology for the earnestness with which its
early consideration is again pressed* - "
,.
The disasters of thepast year have been so frequent and appalling
that they seein to call;with more urgency than usual for the passage of
laws the mpst'rigid, arid, in -some/ respects, penal. Their provisions
might well be directed to insure proper strength in the original materials
for the boilers;'to provide the best -securities for the safe construction of
Iboth them and the vessels; and to-ex:act, by exemplary punishiiients,
vigilance and piomptitude in the adoption of all approved safeguards
against the calamities of explosions,, conflagrations, and wrecks. When
we advert to the extensive sdacPast, the large lakes and nurnerous rivers
within our jurisdiction which are covered with machinery propelled
by a power so yrist, either for good -or evil, it must be obvious that the
consideratidn and due dispdsal of these questions at an early day, are
important, not only to the preservation of much property, but to public
tranquillity and the cause of humanity.
...
"Respectfully submitted, •
/ L E V I WOODBURY,
, ' - . - . ., - - . . fSecretary ofi the Treasuiy.
To the Hon.

J A M E S K . POLK, '^

'

%

:

Speaker ofi th& House ofi-Representatives.

.

• • •

^"/'r-V'.

••

•:

... A . ;

•^.

^

•
>

• ,

^ : - . \

Statement ofi Expenditures ofi the United States,-exclusive ofi the Trust Fu7ul,
firom 1st Jaiiuary to SOth Septemher, 1837. ,
CIVIL, M I S C E L L A N E O U S , AND FOREIGN INTERCOURSE.

Legislature . . . . , . . . . : . , . , . . . . , . . . . . . . . .-.^. $635,396 99
Executive Departments
..-.-..
' . . . -728,703 52
Officers and clerks ofthe mint and branches.
23,851 ^ 04.
Surveyors and their c l e r k s . . . . . . . ^ . . . . . . . '- - 26,995» 96
Secretary to sign patents for public l a n d s . .
376 53
Commissioner- of the Public B u i l d i n g s . . . .
1,800 00




110

,

R E P O R T S OF T H E

Governrrientsinthe Territoiies ofthe United
States.......," . . . . . .
...v.......
Judiciaiy.
.!....

[1837.

$41,949 15
298,205 92 >
; . > .-r-$l,757,279^ 11
Patentfiind-,.:...........'.....w...>..../..
-29,840.M
. :.
Sundry, annuities . . . . . . . . . . . . . . 1 . ^-%.....
.
9:0000
;.
Mint establishment... ..^.. . . . > > . . . . . . . . . . . ,
161,230 00 Support and maintenance of light-houses, &q • 2'42,8p6 57
. . c
Building light-houses, &q.'. ^ ^.... . . ^ . . . .^. ^,., .34,'5-27 1.8' - ;
Survey of the:coast of the United S t a t e s . . '. ' .67,900 00-. .
. ,
Surveying the public,lands , . . . . . . . . . ; ^ . . . .
123,095 31 '
:
Registers and receiyers of land offices-,..... -: ^ 750. OQ
Keepers of public archives in Florida.:. . ^ . • 750 00^
.
. •
Repayment of lands erroneously sold....,J' ,5,640 :3.0
-:
Marine hospital establishment.. ^...::.:-1.. ' ;69;505. ,18 ;-.
Marine hospital at New Oiieans . 1..,.;..,.,-- - 6,000 00
; , ; :'
Roads within the State .of Ohio, (three per
.
'
cent.fond). , . . . . , . . , . . > . . - - , . - . . . - . ; . . . . . . ; 55^600:00
Roads and canals within the State of -[ndi.-. - • . :;
; •;
ana, (three per cerit. fund). . . . . . . . . . ^ ^
57j450 QO. :
Roads' and canals within the State of Mi.sr - ,
-.
;"' souri, (three per cent^ fond).. ..:.>;..:;:-.
:29^3^P 0G^
Roads and canals within the State .of A l a - /
.: ^
;
bama, (three per cent, fund) : . .'..^,.,.. ^:^^
f34,112;00^; ^
Roads and canals within the State of Mis- .
. ,; ; • ,
sissippi, (three per cent. fund). . . . i . . . . . .
67,070 Q
O
Roads and levees within the Statq of Lpuis-y \.. i':
,
iana, (five per cent, furid.) , ...<
. . . . - - .. 19,620 .00 . .
.v;
Roads and canals within the State of Mich- '
.
....
igan, (five per cent, fund)...;. . . L l . . . . . . . - 151,800 00 .
„
Roads and canals within the< State of Arkansas, (five pe.r Gent.;fund) . . . . . . . .
2.6,800 00
Encouragement of learning within the State:
* ...
'-....
of Illinois, (three per cent, fund),. . , 1 : . . . . .48,6,00 Q
Q
Furniture for the President's house
19,321 73
. .;
Public buildings in Washington, &c...-.^
261,298 52
'•
.
Penitentiary in the District of Columbia. 8,084 73
'Completion of the Alexandria canaL;..
100,000 00
Relief of the several corporate cities in the
District of Columbia. -.,...,......., .....w.:...
61^875^ QQ
.^ . ^
Building custom-houses :and wardhdus.es... . 162,200; 00
.- •
Public buildings and hbrary in Wisconsin ,
Territory.............. ..^;..^.,:-^=...;.,i..^.. - ,;-?5^rQQQ OQ: , :
Rehef of sundry individuals ,:..,..^. ..,.„.-.^.„...
.33,764 36 ,
s '. '
Manuscripts ofthe l a t q M ^ Madison . . . . ^ .
30,.boO„Q6
Diplomatic correspondence, American State
Papers,&c.;.........V.......,,.,,.,,..,.
44,490;2S . .
Debatesof the First Congress, and Register
;
•
of Debates to Twenty-fourth ,CpngresS:....
1.5j500: 00- .




1837.]

SECRETAIIY OF THE TREASURY.

Payment of claims for property fost, &c. . .
Additional compensation to collectors, &c..,
Miscellaneous . i . . . . . . . . . . .
.........
.-.-

Ill

$88,417 61
22,839 23
26,449 64
2,102,537 59

Salaries of ministers; of theUnited States..
20,000 00
Salaries of secretaries of legation .:;....... i
2,500 00
Salaries of charges d'affaires..........,-^.,.^ . 42,428 93
Outfits of ministers.. .^..
....^-^....,.... .......
18,000 00
Outfits of charges d'affaires........,..,.,.:.,. . 4,500 00
Contingent expenses of all the missions
abroad
,..........
[.\ ..,.^..'...... .. 27,902 53
Salary of dragoman of the United States to
Turkey, and; contingencies . . . . . . , . . . . .
Ij687 48
Salaries of consuls at Londori and Paris..-.
4,000 00
Rehef and protectipri-of American searnen.
S2,199 15
Allowance for clerk hire in the office ofthe
•;
consul at London
5...
'2,393 14
Intercourse with Barbary P o w e r s - . . . . . , . .
1,7Q3 62
Expenses of coinmission under convention
„ with Spain. . ^ . " . . , . . . . . . . . . . . . . . . . 1 . . . ' 7,685 53
Expenses of commission under convention
.
with Derimark . , . . . . . . , . . 1. .1.., i,........
6 00
165,006 40
• • :,^

•""'."'

,. ,

$4,024,823 10

PUBLIC D E B T . ' .

/

Redemption of the three per cent. Stock,....
Reimbursenient of Treasury notes...-.-.... Certain parts of the. domestic d e b t . . . . . . .
Interest and reimbursement ofthe doniestic
debt
/.:...--.-----.

21,313 71
. 6 1 4 51
92 15

"
^^
From which deduct the foUowing .repay-,
ment:
,
..
,.
Interest on the funded debt.

22,048 IB

27 76

. •
2.8 88

, .
g2i,019 '25.

."'."""
.

..- fi. , ,

'

,-;•. '$4,04:6,842 -35;

MILITARY ESTABLISHMENT.

Pay ofthe army, arid subsistence of officers
' 573 89
Subsistence department-. ^ . . . . . . . . . . . . . * 896,705 39
Pay ofthe army. ..,... ...v:'i,.. .^^ , . . . . . . ,,^,. 620,081 88 ,
Subsistence of officers . . . . . . . . . . . . . . . . . . . ..^,.. 2.09j530 58.
Quartermaster's department. . - ^ . - ^ . : > i .* 111,460 55
Incidental expenses of the quartermaster's . , .
department...
;.. .....^,,.,... . 152.,7i3S- 47
Transportationtof officers' baggage...,,........: $37,232 93Transportation of the army. .\.............-.., .,16.0,3,86 8.3
Forage.......,:^.^^:...,i
.^...i..,.,,^,.,,.... ^„:2%134 1 6 ; ,



^

112

R E P O R T S OF T H E

Purchasing department.. 1
$194^415 82 ^
Payments in lieu of clothing for discharged
'
soldiers
28,318 46
Clothing for officers' servants
r r,- - - 10,825 46
Expenses of recruiting...'.
:... — .
13,113 16 ,
Two months'extra pay to reenlisted soldiers
IS,171 60
Medical and hospital d e p a r t m e n t . . . . .
'21,670 54
Contingencies of the army
.....
.-.
2,206 07
Arrearages prior to 1st July, 1 8 1 5 . . . . . . . " 2,784 08
Invalid and half-pay p e n s i o n s . . . . . . . . . . .
148,026 06
Pensions to widows and orphans.
....
2,104 14Pensions to widows and orphans, per act
"
4th July, 1 8 3 6 , . . , . : . .
551,973 13
Revolutionary pensions, per act 18th March
•
.
1818
..........l
419,448 00
West, Point Academy. '^
"
.
Pay of officers, cadets, and musicians.
38,750 00
'
Subsistence of officers and cadets.
' 23,385 2Q~ . ^
Forage for officers' horses..
J..-...^
1,072 QO .
Clothing for officers' s e r v a n t s . . .
..:
392" 22
*
Fuel, forage, stationery, printing, &c. . . . .
7,133 00
Payof adjutants'arid quartermasters'clei'ks
' 712 50
Expenses of the board of yisitors.
....
. 2,007 84
Repairs and improvements 'of building,
grounds, &c
.
7,516 00
Models for drawing d e p a r t m e n t . . . . . .^
.
733 00
Miscellaneous and incidental e x p e n s e s . . . .
1,473 00
Compensation to the acting professor ,of
. '
chemistry
....
750 00 .
Incidental expenses of artilleiy department.
150 00
Grading the- grourids, &c.
l75 00
Philosophical apparatus.
.T
150 00
Models for engineering department..
:
150 00
liicrease and expenses of the l i b r a r y . . . . .
30Q 00'
Painting room for the professor of drawing.
, 400 00
Completing the chapel
:...:...
• - 1,253 35
Building to contain the public stores
750 00
Building fdr recitation and military exercises
15,000 00
Preparation of yard and construction of
shpps, &c
...
4,000 00
Erectiori of barracks:
....^
2,000 00
Arsenals
. . . . - ' . : . . . ^ . . . . . . . . . . . . . . . . \ . 213,551 78'
^
Supplyiiig arsenals with ordnance stores..51,044. 53
Purchase of site and building an arsenal near
. Fayetteville,North.Carolina............
27,Q00-00
Payment of taxes on the United States arsenal onthe SchuylkiU...
........,;.
1,450 00
Repairs and improvements of arsenal at :
Charleston..........
...........
$452 73



[1837.

'
;

-

:

''

-

1837.]

SECRETARYOFTHETREASURY.

113

Enlarging site of Frankfort arsenal ..-•.-..= .
$1,00000^ .
Purchase of sites arid coristruction of arsenals
^
^ ;
iri Arkansas,^ Missouri,-and Tennessee.-^ .. . 17,172 00.
.:^
Purchase of laaid attached to .the arsenal at
., '.
St. Louis . . . J . . . . . . . . . . . . . . . . . .
. . . 2 , 1 0 0 00
•
Claims of the Statd:of North .Carolina...'.-' 3:0,000' 00'
P a y due the executive staff of the Governor
•
,
of Tenriessee^ - .^ i . ^^. - - ....
. . . " 3v000 00
Tennessee yolu:riteers—rhabUities incurred = ^
<by Governor Cannon
..>.:::-. .J. ^.."..:
5,756 67 :
Tennessee volunteers iriustered into .service.
"^
by General Gaines, 8th Aprily 1836:,. and .
-^
.
proclamation of Governor Cannon, 28th'
^
.
.AprU, 1 8 3 6 . . . . . . . , . ..>. y...-.:....;. 100,000 00 • '
'/-•:"'
Tennesseeyolunteers^^-^pay, travelling, .do-. . . . . . . . . . / •
thing, and other legal expenses'--^mustered
:
'
. : ' . .;\
^
into service urid^r"ordfer of Secretary of-......... ...,. . .
' Warj 25diMay, 1 8 3 6 . . . . ^ . i . j . - i . : ^ . . ^ : .
.95^000 00 . i :
Tennessee, voluntedr's^—pay, tra:veUing, .clo-.
thing, and other legal expenses-r-:mustered..'. . . .
intoservicebyGeneralGaines, 28th June j
. :
1836, and, Goverrioi'Cannon'.s proclama-., : . . :
'
/ . . ^
tion, 20tii June, 1 8 3 6 . . . ' . . ^ . .^ .......i.^.v . 3%310 00 ::: > fi
Arming and equippirigliiiihtia..^ i . . . . . . . . . . . . 144,465 54
Accoutrements of the-arm^^
i . . . .;...•
48,795 00
Ordnance service.-.-•...'... ^J^^.^..-^^^ .^li^j^ • 96^401 88 : • >
-Purchase of light field :artillery,.&c.
. ^ 36,378,38 ..
. /:
Constructing'^furnaces for heating; cannon Z'
; b a U s . . . . . r . . J...w....
,
,....: :6v740r36^ .... ^ .v
National armories-^^.-^...-^.......... w....^.
260;S01 83- ••
^ .•'.
National armory at Harper's Fehy.-w...?.?
31,550^ 00
River wull, tiltdiammei^ shop,^.&c.,-at,Har--.. . / . ; - : . _ , . . ^. i\
per's F e r r y . . . . . - - - . . . - . - ^ - . . : . .^..:..^.i W .: 12,1615 aO^
i
- C .. .
Rifle factory at Harper's ^ F e r i y . . . . . . . .
,.. ..a,569.O0^ ... . i :
;;
^
National armory, Springfield.--^'^- ->- -'- -- ^^.=.:. 19j500':ti)!0/
Blacksmith's shop, &d.vat Watertown,;.Masr ..-..>.,. .^^...\
:. sachusetts.r../
...-.'..^....... j . . ^ . * . = §,^17'DO: • i, •
' . H o s p i t a l s . . . ^ . . . L l ^ . ; w ^ . . l . . " . . - . . . . . . . . . . . . . . . .•8,556.85. . ...
. .- .
Purchase of gunpowder
. .•^i.^.i-.L wf^w^y^- - ;3SfO0O'6d^
Purchase of caririori?baUfc . . . . ^
^ J L . . . . - . ^ 4 9 ^ S2.
^
Eleyating machiiiesrfbirrlDarbetteTand dase-^
: : , .;. ...'
• nientcarriages.-.-i ...-j-^v^4<i..-^i.— .,.'" :-.: 50O;OO
^
Sporiges for field :arid battery carinpn.
. . „ 1,960 .00^ ;
Armainent of fortificatioris..
. . . . . . : : . . . . . : 298^922 6Q
:
Repairs and contingencies of fortificatibnsi.
' 1,297= 92; •
Incidental experi'sds of fortifications........« ... 22,,118 39'^
Fort Adams, Rhode; Island.^.. . . . . . . . . v.^ -v: •. 88yQ0;0 Q
Q . / -fi'
.Fort Camoun, Virginia.......;.,...^..:.>.^^^
86,90000 . ;
r .
Fort Columbus- a n d Castle Wilham,-New .. - .• /
York:. - . . . . . . . ' . J , : . : . , fij.^..,. i : ; . - , . v ^ < 4iQOOyjOO
.
;• VOL. IV.—-8. ^ •
^ ^.



114

R E P O R T S OF T H E

[1837.

Fort Delaware, on Delaware r i v e r . . . w . . .
$71,700 00 • . "
•
" Fort Caswell, North Ca:rolina . - . V . . . . . . : .
36,800 00 ..
Fort Schuyler, New Y o r k . . . . . . . . . . . . . , : .
,85,00QQ0..
; /
Fort Warren, Massachusetts.. . . . . . J . . . : . • 120,500 OQ •
'•
Fort Pulaski, G e o r g i a . . . - . . . . . ,
. . . . . .104,737:97 .: ; . Fort on Foster's B a n k , . F l o r i d a , . ; . . : . . . . . . • 27,000 QO: .
. ; '•-Fort McHenry, Redoubt Wood, and Cov- '
:'
ington Battery, M a r y l a n d . . . . . . : . . . . . . . , : 22,140:00^
; .
Fort on the Arkansas.frPntier......^...:'..
20,000 00 •
Preservation of .Castle Island, and repairs;. - . ,
: .. ;.
of Fort Independence. - . - - . . . - v-. -;-.:86,000 0 0 ' . ;
: ,'
Fortifications at Charleston, and; preserva- •
; tion ofsiteof Fort M o u l t r i e . . . . . . . - - • ^ 17^92Q .00
Purchase of lands and right of way on...
Throg's P o i n t . . . . . . . . . . : . - . . . . . . . : : - . . . ^ . ,2,000 00 :.
Repairs of Fort Marion and sea-wall at St. .
'
; Augustine
.....:................•.
29,650 QO;
Constructing wood-yard and wharf.at Fort
Monroe.
..
.-.,...-...
^ ^ 934 42 ;
Barracks, quarters, & c . . . . . . . . . . . . . . . . . . . .
33,966.^9
Barracks, quarters,. storehouses, &c., ^at
" -; ; . ,
Fort Jesup, Louisiana
. . . . . ^.......
5,000 00
^
Barracks and quarters;near New Orleans... ..,3,682 88 •
Barracks at Baton RPuge
....— ....
v23,7.19 67 .
Breakwater at mouth of Delaware. B a y . . .
149,187 03;
:, . . .
Breakwater at Staniford's Ledge,..Portiand. .;.,, ; . . - . • " , / :
•:'
harbor, M a i n e : . . . . . . . . . . . . : . , . . . . . ,
V25,d00' 00
'
Breakwater at Church's Cove harbor, iri.the
. ;
town of Little Compton
. : . . . . ' . . fi.. . .; 6,512.60
Breakwater at Sandy B a y . . . . . . . . . - - - > . . - ; . 20,000 00
Breakwater and pier at Burhngton harbor,
V e r n i o n t . . . . . . . . li
. . . .^ - . . - v . . -11,000 00 ; ;
:•
Pier or breakwater at the mouth of St.:
....:.
Joseph's.......................-..-.;
12,771 00
;: ;
/:
Breakwater or pier at the harbpr of Platts-, .
burg, N e w Y o r k . . . . , . . . . - . , . . . ! ; . . . . ^ .
17,800 00:- • - . ' - .
Breakwater at ; Hyannis harbor,. Massar..... . . . : . : . , . -./
•'•/'•
chusetts .
.............5,QQQ-00... .-..:•'••
^^•
Constructingtwopiers and improvingmavir./. . .
w . •; ^
.= :
gatioh of Vertnilion .river.-.
-^ ; . . 2Q,500 QO
1
Pier at the entrance of Kenriebunk river.-..' ' ^ ,5,517 .32 •
'; ' ,
.•
•
A pier to give direction to the..Mississippi.. ;.... ;.. . "
near St. L o u i s . . . . . . : . . - . . . . . ! - . . ' . . . . . ' . . 2 , 8 3 4 12
Pier-and rnole at O s w e g o - - - . . . - . . - " . . . . . . 26,100 00
:V
Deepening channdl Cochego^ leading into '
". . .
:
/ .
Dover h a r b o r . . . . . : , . . , : . . , . . : : ; . . . . . . .
4,a6Q 00 ,
Deepening channel of river T h a m e s . . , . - . - . '16,000 00. ' ;
Deepening'channel foading irito.'Bridgeport'.
•^
-^^
harbor, Coiiriecticut.. ^...'. .r..-.!;,..;.:...;?' 10,OQO 09 y
: ".
Light-house on pier.;at Oswego.^.—r^^-- • • ^\^15;00^; ^: ;..,;. :^ -^



1837.]

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

Deepening channels betweenthe islands of
North and South fiero, near St.-Albans. • / - $7,000-00 i;- ;
Placing buoys in the viciriity of the monument on Steel's Ledge, M a i n e . . . . . . . . .
466 00
Preserving the point^of land leading to the .
- - • •;
fort and hght-house at the-Gurnet, in
* .
Duxbury...................
---1,500 00
Preservation of Rainsford Island, in the
harbor of B o s t o n ; . . . . . . - - - - . . . , . .
'5,590 00
A sea-wall, to preserve Fairweather Island,- v
v
near Black Rock harbor. . v . . . . . . . . . .
9,00Q 00
Building an icebreaker at Staten Island..-.
10,000 00
Securingbeach at Cedar Point, Connecticut.
500 00
Securing pubhc works' at the harbor of
' Southport..!.:..:.......'.....-......
1,500 0 0 .
Beacon .light at Gunriinghairi creek, Ohio..- - - : 225 50
Works at the mouth of Genesee r i v e r . . . . .
15,100 Q
O
Removal of light-house at Old Point Gom-: '
fort into Fortress M o n r o e . . . . . . . . . . . . . =
2,000 00
Mooiing buoys in the harbor of Delaware-^ — •
breakwater.
2,000 00
Preservation ofthe harbor of Pravinqetown.- --4,061 65
Iniproving harbor of Presque Isle^ Pennsyl'
vania
. . . . . . . : . . ...^v^.-........
15,06852 /
.
Improving harbor of Chicagoi l U i n o i s . . . . .
37,00000
Improving harbor of.Dunkirk.-..'.:.-.---.'-.
18,058 71 /
Improving harbor at the mouth of Bass
river, M a s s a c h u s e t t s . - . - . . . . : . - . . . . . : ^
*"• 6,970 00
Improving harbor of Westport. -.-...-.-.-...
:_- 2,-500 00
/
Improving harbor of Portland, on Lake ^ ^
Erie.-_...,......-......:..:.......J
9;g80 QO^
/
Improving harbor at the mouth of Salmon
/
•
river, on Lake O n t a r i o . . . - - . . - . . . . . . . - . - . - -13,000 00- - >
Impix)ving harbor at the mouth of Oak
. '
Orchard creek. Lake .Ontario-...-----..-..
5,400 00
Improving harbor at the mouth of Bla^k
•
river, N e w Y o r k . . . l:....,-.:..
14,000 00;
Improving harbor at the mouth of Cattatrau-^
•
^
gus creek, on Lake E r i e . . . - . . . . . . . . .
13,009 18
Improving the entrance of Whitehall harbor,"—'
on Lake C h a m p l a i n . : . . . . . . . . - . : . . . ! - --lO^OOO-OO
Improving the harbor of New Brunswick,:' =
New J e r s e y . . . . . . . . — . . . . . . - ^ . . - - - . . - v ^ - - ' 7 ^ 0 0 00 - - -.
Improvirig the harbor of Beaufort, North
Carohna
. . . i ; . . . . . ; - 5^000 O Q - ; - Opening passage between Beaufort a n d '
Pamlico Sound", arid imp roving New
river,
'
& c . . . - . , . . : . ' . . . . . . . . . . . . . . . . . - . - - : : 20,000 00;
Protection and improvent of Little - Egg : - - • - - -.
Harbor.....
.-:.,....... . v . . . . . . .
5,000 O :
Q



115

,

^

^

'

UQ

REPORTS OF THE

pM^.

Construction of a harbor at Michigan'City,
Indiana. . . ^ . . ^ . , v . . . - . . . , ^ . . . . . . . . , ^ , . . $28,;593 Qa •
Improving the harborof N e w c a s t l e . . . . . . . .
7-,00Q 00.Removing the:wreqk in the harbor of New. .
Bedford.......
.^'•.,l,\.fil,...^
2,500.00
Repairs of the harbor of Chester... ..,..•.,...
%O.QQ: 00
Removal of the; Bi*unswick bar, to improve
the harbor of Brunswick, Georgia,:.....-- ; : $44: Oft -' -'
Improving the harbpi: of Wilmingtpn, Dela„
.: =
ware
.^:.,.;. ...r. . ^
, 2,00a QQ .;
Deepening the. haijhor;:of B a l t i m o r e . . . . . . . ^ .15,460 00 .•/.._
Improving the haAqr of Mobila^.;. I . v->:s • ' ^W OftV
:::
A dredging maqhinq,on Lake Erie...,.:.,.^
, .
Improving the harbor of ClevelaLnd.^^- .-;^ . ; 1ft666 0^ /
.\
Improving the haiibor at the, mouth.of the\ : . . ; . . .
. ;
river Raisin"-:..,v-i-.... .-.-..^H—-.r;-^—• ^§^^6Q^^^^ " : -'fi
Improving thc; na'v?igati;pii of .the Hudson
, -•••,.•.
river, New Yorii
. ...^!..•;;.!.-,>'.,.,:, ^ 06^SQS-Q()) ;
Improving the navigation of. Cape .Fear . .5;, /. .
river. North Carolina
v . - . . . - - . ^ . - . . „ 12,90Q GO: .'
Improving the-navigation of Cumberland., .v. . _ . . .... . - , ;
.;
river, Tennessee.>i..
...,.,...,.,>v.^^ii:;.. 26^50Q-00^^^
Improving the navigation of the .Ohio.,; between Pittsburg a n d t h e Falls.,...^. ...^....". . ,"^ 70,000;QQ . _ , , ... ',
Improving the nav%atipn of the 01ap>,;]^K
: • . ; : ^ -: .;
souri, and Mfssissijpin-^rivers.^..^.;..-..,., .....^.:.' 1;9,723 79; ; ! '.
Improving the navigation of the Ohio and
^Mississippi riyer^Sj.feom-Louisyille.to New :
;..
/
Orieans . . - .u-. .i.;.,^.^..... ..:^.„._.;. .,..._.^,.. ,. ,;,34,31i4 23; .-.• . •" •
Iniproving the Mississippi rivei*,:..abpve the : •
'.
mouths of thaiOhiO: and Missouri.rivers.,. 15,000 OQ ., ; .; :> : =
Improving the navigation of the;Ai^ansa^Si :
• .
;.,. ;. ; "
river.-...-...;>.iL-.^v4..---;..J....^-,-...-.--^
41^030 00] .^ - . -r
"
Improving the island channels: betweerithe-; '
•'
'••
• *
St.'Mary's a n d St; John's.^...,.....„...^^.vv . ; . 3:,248 M : =
: V
Improving the navigation of; the^ n a t u r a l . ; ' • i :
...; . ;
channel of thai northern and^ southern, eri; ..
;:
trances of the D i s m a l Swamp;canai.i...!.,:..'i.2i8Q0: QQ:^.^ v J - i i;
Increasing the depth pj^; w a t e r in the mouth;. : ;[ ••/••A, ; / . :
•
:r
of the Mississippi river .X.^.:.>;.L:V>.-.;^.VO/'67^Q^Q':QO^ -./: ; :; ^:: ;•
Improving the navigation of fed,river.;....,.^ _, ..65^AQ0:- QOt! /? : " : ~
•
Removing obstructions
from;Hui;pnt:2rfe
-/: '•u> -^^fi •.'•. •,./, •'•^.:-.:\:-: /
O h i o . . . . . ..J^> .^j.;,5,v--.---.-,-,-,.,.;n.^^^.. . . .2,5(55 ;QjO./::-;
:''^
Removing obstructions ffom G r a n d : r i ^
. -i,} • . . • ; / .
T.
Ohio.
.•.•.i.-;^v..-..r t .*^-r.--^r^^;., „. .... ; 9 8 1 1 1 . .•;':/^ .-•.,•-''" •
R e m o v m g obstructions from Big:Sqdua bary
1 % ^ 0 00;. j : •
Removing obstructions from OGi;aGpqk,Met - 20^107: .68;: - ; - ^ '
jRemoval of oyster sbpal, in. Ne\Y'i:iver,... _ . _. . . . . . . . .. ,..; ,V .; "
"
North C a r o l i n a . . . . . . ' . . . . ^.^. i...;.:.;.:,;. • ;• -^S^QOQ^O; ^.
- ,
Eemoving a: m u d shoal, caUed t h e Buikhq^^^
..
' . , .-.
'


1837.}

SECRETARYOFTHETREASURY,

ll!7

in the channel from the East Pass to Appalachicola............--.vi........
$10Q 00
Removing obstructionsiri Black river, Ohio
6,410= 00
.: ^^
Removing obstructions in Cunnirigharii creek
'5,000 00
Removing obstructions in Ashtabula creek;
8,000 00 •
Removing obstructions in Conneaut creek .-^
5;0Q0' 00
Survey of the southern debouehe ofthe Dis- - •
'
. .
mai Swamp tP Wineyaw bay,- South Car- - ohna
-=-......
. . . . . . . . . . . . .5 - - -5^142 -00 - • ' ;•
Survey of Black and White rivers-, in Arkansas and Missouri
-..-.. •. -.....-...-.1,000- OO •
Roads and c a n a l s . . . . . . . . . . . . . ; . . ^ . . . . i - 26^349 7'0
Cumberland road in Ohid, west of Zanes. ::
vUle
...;....
^-..-.^•..-.'..^- 170^016 50^
Cumberland road in I n d i a n a . . . . . . . . . . . . . . 1 2 2 , 0 0 0 ^ 00
Cumbeiiand road in I l l i n o i s . . . - . . . . . . . . . - . - — • 58,452 66
Repairs of Cuiriberlaad road east of the - Ohio r i v e r . , . . . . . . . ^ . . . . . . . . . - . . . . . . . . .
7,183 -63
Arrearages due coritractors on the Cumber- . . . : .^ .
land.road..........
.... ...^.....
299 25 - Mihtaiy road from Mississippi, betweeri the
mouths of St. Peter's and -Des -Moines - . - . - - - rivers, to Red r i v e r . . . . . . . . . . . . • . . . . ^ -. - -11,500 00
Road from Memphis to William Strong's - house, on the St. Francis river...-.-..-... - - 80,000 00 Road from Fort Towson to the northern
boundaiy of Louisiana.
..-.-..-.-.-.-.-.. - - -1,384 -72
Road fi*om northern boundary of Florida to Appalachicola::... J
. - . . . . . . . . . - - 30 96
Surveys of a mihtary qharacter, and for- de— ..
fence of the Atlantic and "Western-frontiers..:.................-..-.---.--^-.'-2,832.70;
Volunteers and an additional i*egiment'of • - dragoons......
10,21178
Preventing and suppi?essing Indian hostih- - ........
ties...
. . . . . . . . . . . . J . . . . . . . . . . . 4,010,162 03
Current expenses of the Indian Departmentj
per act 3d March, 1 8 3 7 . . . . . . . . . . . . . .
31,594 11
Miscellaneous objdcts..
. . - . . . - . . . . . ^.
22^350 00
.FulfiUing treaties with the—'•
;
'
Pottawatomies....
..^.^=. .^.. .>. 101^313 80
Greeks...^..;...
^.. .^.......-418^684-93
Florida Indians
.^..'...:..
118,740 00
'
Six Nations, New Y o r i i . . . . . . . . . . . . . .
11^619 ^33
- '
fi
Sioux.....J..u-.......V...^..i...
14,270 00
Sacs and F o x e s . . . ;
^ . . . . . w.....90^911 0 O _
Ottoes and Missouries.. i . . . . - . ...-^.. .•. 7,430 00
Omahas...............-.-.'^.--.....4,850 00
lowas
:..:..............:.....
- 9;490;00- •
C h o c t a w s . . . . . . . . . . ^ 0 . . . . . ^ . ^ . . . . ' ^ 45^959 50
• .



118

R E P Q R T S OF THE:

[1837.

FulfiUing treaties with the— .
' : .' ^
Sacs, Foxes, lowas, Sioux, Omahas,^
: .. . , '
Ottoes, and Missouries... : . . . - . . . . . . . . : $2,287 00'
Wyandots, Munsees, and Delawares.
1,000 O f
O
Senecas, of New York.,
.......
6,000 00Wyandots..
....................
6,680 00
Ottowas...
16,435 80^
Christian Indians
..........
400. QO' , :
. Miamies............
,,........,.,...;.:,/_28,818 .5(>!-„ „ _ -. ; :^
Chippewas, Ottawas, and Pottawato'fi
mies...
.
...._.......-.,..
59,145 OO
Winnebagpes... ^ . . . . . . . . ^ , . , . . , , , 1 ^ ^ 35,205 OO
Menomonies
..
• . . . . . . . . . • - . . 2 9 0 , 8 7 0 00 i
C h i p p e w a s . . . . . . . . - . . . _ . . . . . . . . . , - . . . . . . _.6j880 0O
Kanzas
. . . . . . . . . . ...^,..,.
5;i680 00^
Osages..-..,....;....,.......^..,^
10^680 OO
Kickapoos.1
.
....
...- .
5,750 OO ;
Kaskaskias arid P e o r i a s . . . . . . . . . . . . . . . . .
. 3,000 OQ Piankeshaws...
....:...J
1,300.00 : . .
Weas..,;..............,..,..^.,.
3,0^0 OO .
Kaskaskias, Peorias, Weas, and. Plan- '' ;
keshaws . . . . . . ; . . . . . . . . . . . - . . - .
' , 580 OO
Delawares . . . . . ...
..,...,.,,,,
. 10,130 OO
:
Shawnees
6,780 00
Senecas..---,.-..
, , , , , ^ . ; - . . . . ' 2,440 OO : •
Shawnees and Senecas
. .^ ... . . . .
• 580; OO; .
:
Chickasaws......
........,.......,.....^.1,615.00
Quapaws..... .. . . . . . . . . . : . . . .
; 3,477 - OO
Pawnees-....
......^._
9^300.00
Cherokees
.........-...:-.
6,255. 50
Caddoes
, . . . . . . , . . . . . . . . ; : 10^000.00^
Ottawas and Chippewas.., -..,.-....,.. ; ^48,845^ 00.
Civihzation of Indians . . . . . . . . . . . . . . . . .
; 5^375 75^
Pay of the Indian agents and supe]:intendent ,;
.. ^ . . . „ _
of Indian affairs . . . . . . . . . . : . . . . . . . . .
i 675 00^ .
Pay of Indian s u b - a g . e r i t s . . . . . . . , . . . . . . . ...„ . 1,627 22 . . . , .
Presents to Indians! - .
..-,-,-..........
11,,350 1 3 . . : ; . .
Provisions for Indians at the distribution of. .. . ,
. . .
annuities . . . . ; . . J . . . . . . . . . . . . . . . . . . . . . . 379 61
:
Houses for agents and blacksmith s h o p s . . . , ; 6,30.4 94.
' ;
Contingencies ; o f : : t h e Indian . dep^rtr. , . , . . . .
, m e n t . . . . ..:v-,-- - - - . • - - r -^>--.-- - T -^^ . ; ?>A68 21
Locating reservation (per act 14th June,
. V
1836).
.:............,^.,,,-.,.,.'
2,942 31^
Transportation and incidental expeiises (act
/.
.;
2d July, 1836) . . . . . . . . . ; . ; . . , . . ; . . . . ^ . . . , \
125 OO . :
Indian annuities . : . . . . . . - . . . . . . - ^ . . . . . . .
20,184 17 -.
Education of Indian youths.. . . . . . . - - . ^ . . . ' ^ \ 5,528 65 ;
Transportation and incidental experises...., . 30,181 15
Removal and subsistence of I n d i a r i s . . . . , . , 590,385 67



1837.]

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

119

Carryinginto effect treaty of Chicagoof 26th .
Sept., 1833, per act 3d March, 1835.
.$822 27 ^ '
Expenses of an exploring p a r t y . . . . . . . . . . . . . . . 1,127 04
Carrying intp effect treaties with Seneqas, • " ,
"
Shawnees, and Seriecas arid Shawnees, . . . . .
of 1 8 3 1 . . . . : . . . : . . . : . . . . / . . . . . . . V.
•1,695. 62
:
Carryinginto effect treaty with Cherokees of. - - ., : . . - .
^ 29th D e c , 1835—act 2d July, 1 8 3 6 . . . . 1,132,834 81- ^
Carrying into effect treaty with Ottawas and . ; . . .; .. ;
Chippewas, of28th and 31stM:arch, 183.6 ^ : 45,794 52 . . '
Annuities, per act 25th February, 1 7 9 9 . . . . . ; :. 309:83
•Rehef of Francis Lasselle and other Michi- . .
.
gan v o l u n t e e r s . . . . . . - . . . . - . . : . . . . . ... .475.45.
;.
Rehefofsundry citizens ofthe United States .
for prdperty lost by depredations pf cer- . . . . .
tain Indians, act 30th June, 1 8 3 4 . . . . . .
1,127 00
. Reliefof Joseph H e r t i c k . . . - - - . . . . , . . . . : ,
140 00
'//
Rehef of James and John Brown, per act .
:
3dMarch, 1837 . . . . . . . . . . . . . . . . . . . . .
977 00
Rehef of Jerah Tenner, per act of 3d March,
1837..,.
• . . . . . . . . • . , , . , . ' . . . ; . • . • • •-•28'64. •.:;
Rehef of EUen A . Smuck, per act of 28th'. . . .
June, 1836
335 71
Relief of Frances B,ashford, per actof 28th.
. . . , :.. .
. June, 1836 . . . . .
..............
32587
Relief of the legal representatives of Willie
Blount, per act of 17th February, 1836.. ., . 1,074. 22
Virginia claims, per act 5th July, 1832..., ' 30,800 78:
Revolutionaryclaims, per act 15thMay,182,8 ^ 87,450. 10.
Revolutionary pensions, act 7th June, 1832 1,166,815 93 •
Pensions, per act Mth May, 1 8 3 6 ; . . . . . . . . 1,312 .3.6
One month's pay, &c., to volunteers and :. .
v
mihtiaLof Kentucky, Tennessee, Alabama,
Missouri, &c., per act 1st March, 1 8 3 7 . . ; 115,0.00 .00 .
Rebuildinglighthouse on Brandy wirie shoals . . 7,Q00 Q
O
. .; :
• . /;' ;
•
—16,376,365 05
From which deduct the foUpwing; repay'.....
. ments, viz:.
.. =
;; «
Bounties and premiums.. — . . $1,339 24 .:
/
Fort at Grand T e r r e . . : . : . . . . . 1 5 , 0 0 0 . 00
Barracks at Key W e s t . - . - . . : 166 35 .
Removing obstructions .from ; . • v . ,
. Savannah river.. I--'....:..... . 1 , 4 2 6 71
Surveyofthe mouth of Milv^aU- . . .
: . ; „ ...
' ;
kie river. . . i . , ; , ; . ; . . - V . . . . . . . ; . 4QQ QQ , .^.
: . r. . . .
Iload from Detroit to Ghicagp. • .920, 75
^'
•
,
Road froni Colerain to Tampa
i.,,: .
• •Bay.......;..Vi;.U:.^^-.v.--:-'-'^^^

Road from FortHoward to Fort
Crawford.. : i ^ . . . . : . : . ' . . . . .



. . ...
. .'. , .
392: 95.. :

- • •'••-'^

'

'

. : •

-• •

120

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

[1S3^.

Monument over the remains of
•
. .
<; ^
Maj. Geri. B r o w n . . :
. ,. :.$93 T'O ; ^
>/;..•:.-.
P a y of the llhnois riiilitia..... - .7,138 2 5 ; - :
'
•
'••: •'
For the more perfect defence of •' " f
'
.
thefrontier.-.-....--....2,aOQ 51
v ... . ^ •;
P a y of Missouri and I n d i a n a - . . . . . . . . . . . . . . . . . . .
: ,
militia.
...:-..-,-..
330 3 4 '
. -:
Repressing hostilities ofSeriiir.
; " :
^
' .;
' nole Indians
- . 7,llg.6S-- .
.• '
;.
Suppressing hostilities of Creek. '
'- :
.;. V'
I n d i a n s . . . . . - ' . - - . . - . - ^ • . . . 1S,313 10 ^
:v
P a y of interpreters and trans"
. '
lators . . - . . . . . . . - .
. . . . . -. . .519 .00 . :
;
Blacksmiths' estabhshments'.. -2,588 5/4 . '
';'•;'
Treaty stipulations
-.. - S,789 4^
Purchase of iron, steel, coal, &c.. . - 8& 3.6 '
•
Pay of gun and; blacksmiths... . . . .15,-1.3. ..
•=
:
• .
Holding treaties with certaiii In* "
dians, per act 14th June, 1836 - - 37 3 7 :
. , . . . "
Treaty with the Delawares, per
a c t o f 2 d March, 1831
.- .> 816.37 . . . / . .
Treaty with the Kaskaskias and'
,
..
:
; Peoriasi per act 2d Mai'cb,
'
...»
\
^.
1833
. . • - . . . . . . . , . . ' . - : $ 1 5 0 - 0 q - " \ "' : • V
'
Treaty with the Piankeshaws . - - „ . . . . . , . . ,
^
and Weas, per act 2d Marchj '
^:;
.' :
;;^
1833."
. : . . . . . ; . . . _ . . V •:..-230 i^: ^ :;
•.•'•_.
Transportation and subsistence^.
V
.
^ ^
••,••••
; of Indians migrating w e s t . . ' '
67 5 f . '
Tansportation of agiicultural
,
; .
"
"
*:
implements . ^ - . . . . : . - . - . . . .
.379::31^
Transportation of annuities... ' - 9 4 2 - 8 5
:^
Road from Fort Smith to Fort
.• Towson
. ; . , . . . . , . . ' . . , . • • - ••.•2T^& 94 '. - s' •
•
•:•;,'•;•-.••
Road from Ohio tp D e t r o i t . . .
- ^; 57
- .
^
Road: frpm Pensacola to TaUa.
ha:ssee
,
186i 54-"• •.-/^•,
Road from St. Augustirie to'
. : ' , . '
Tallahassee....'...
:.,..
308 2 4 : -^;
•:.:.:::.'-.;:^^ ;"'.-- •$66,15-6^70' ••• ••\-;-:

:

fi

fi

uMG^%m

NAVY ESTABLISHIVPENT.

P a y and suibsisteDce of the.Navy..... 1 . . . . 1,671,385^ 04/
Pay of superintendents.... - x
.'.....
49,Q20' 09'•
Provisions .
. . - . . . , . - . . . . - - . . . . . . - -567,846-62 Medicines, surgical iristruments, &q..
^ ' , 47,M4 78 ' ' •
Navy-yard a:t Portsmouth
. . . . . . . . ..^;
16,000 OO
Navy-yard^at B o s t o n . . . . . . . . ; . . . . i . . . ...:^> 153,250- 2 1 r : :'
•Navy-yard at New Y o r k . . ' . . . . . . . . . . . . .^ • 68,908! - 1 ^ ; '
Navy-yard at Philadelphia...;..".'fi.,.....'.-{ ' .26,-8S6 -1-0 - '.^



-

; ;
: .'
*
'
;;
,

^837.|

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

Navy-yard at Washington..^ . ^ . . . . . . . . - .
$42,74400^
Navy-yard a t ' N o i ^ f o U c . . . . . . . . . . w . . . . . . . - 943200 - 47 - iVavy-yard at P e i i s a c o l a . . . . . . . . . . . . . . . . . . 17,888 18
.
Purchase of land within the navy-yard- at
Gosport.-....i..'..........^...'.^.,
4,779 00 ^
Wharves afthe^navyTyard at-Pensa<;ola.. - -500 00
Powder m a g a z i n e . . .
. J : . . . . . . . . . • 10,374 97
Brick wall or ericlo'sure
. . . . - . . . . . . - . - 8,592 25
Naval rnagazines, Charleston.and Brooklyn
3,125 00
Completing and furnishing h o s p i t a l s . . . - . .
1,684 19
Hospital at Boston
. - . : . : . , - . . : . . . ; - 1,350 OO
Hospital at Brooklyn
'
40,300 OQ
Hospital at Norfolk
15,560 00
Hospital at Pensacola
.:
16,955 00
Navy asylum at PhUadelphia.
.:
-.63064 08i
'
Ordnance and ordnance stores
3.4,167 08
'
Gradual increase of the N a v y : . . . . . . . . . .
-96,468-59
-^
Gradual improvement of the Navy
, 157,122 40
Repairs of vessels in"ordinaryv and"wear
and tear of vessels in"Commission
1,000,393 91
Contingent expenses of the Navy.
340,516 32
Contingerit expenses not enumerated
8,445 13
Timber to rebuild Java and Cyane
11,035 47:
Rebuilding frigate M a c e d o a i a n . . . . . . . . . .
25,075 67
Rebuilding frigate Congress..
.
..
7,500 00
BuUding and equippirig two sloops of w a r . .
49,308 l l
Launching ship-of-the-line Pennsylvania..
63,500 00
Completing steam vessel buUding at navyyard, Brooklyn
.
87,585 00
Agency on the coast of Africa for the suppression of slave trade
'
649 83
Arrearages for survey of the coast and har* bors of the United S t a t e s . . . - - . .
..
570 00
Purchase of a site and erecting a dry-dock
atNewYork
1,000 00 •
Surveying and exploring expedition td the .
Pacific Ocean and Sputh Seas.
68,681 87
Examining shoals of George's Bank, forthe
purpose of erecting a light-house
...
4,438 69
Payment of Thomas J. Harris for the capture of a piratical felucca.
29 16
Relief of John Stiles
140 00
Relief of Philip F . Voorhees.
, 600 00
Rehef of F . A. Parker:
200 00
Relief of Charles W. Pickering-.;
255 49
. Rehef of Charles Blake.
;....-.....
180 00
P a y arid subsistence of the marine coi*ps.. 116,425 33
Subsistence of non-commissioned officers
serving dn shore..
:..
—
47,443 62
Cfothing^.....:..,.
41,708 64.



vi21

;^ •:'
; ;
. '

:^,
.-

122

R E P O R T S OF T H E

^

,

£1837,

Medicines and hospital stores
$2,785 59 ., :
F u e l . : . ; . . . . . ^ l - . . . . - . . . . ^ , , , ^ . , , , . . . , ' . ' . ' _ 8 , 1 2 2 . : 8 Q . -:;.
Military s t o r e s . . . . . . . . . . . . . . . . . . . . . . . .
672 98 ..
.
Contingent expenses
.-^.
11,697 73 , ; : ;;: ; •
Transportation arid r e c r u i t i n g . . . . . . . . . . . - . .4,^926 5.9 .
>
Repairs of barracks.. — . . . . . : . . . . - . . .
;;3,6Q5:4Q ,
Arrearages of .pay, &c,, to bfficers of the.. . . ; . . . . . • , ..-.
^
marine c o r p s . . .
......
3,812 10 ^ . :
: •
•^ . •' ; /
$5,063,992 60
I)educt the follbwing repayments, viz: .
. ;
. : . :*
Building naval, store s h i p . . . . .
, $00 16..
Covering and preservirig ships . . . ' . . . ,
•
• .:: * ;
inordinary........'
. , 1 , 8 7 2 88, „,.. ' , ; " . : ;
Contingentexpenses for 1829.
50 66
^ ^ ./:
Contingent expenses for 1831,
57 67 .
Contingent experises prior to
=. ^ . :
1824.
, . . . . . . . . . . . . , , ^ '" ' 5 i 95 .
;
: .•
Contingent-expenses-foi* 1836.
91 07 . ,
y• '
fi
, . 2 , 1 2 6 73
'..-v'.'
_..• '.;- • :•.- ' ^ 5,661,865 87
-

^; :
-

, " . • * • • : , . . • . • .:

TEEASURY DEPARTMEINT, ;
R E G I S T E R ' S O F F I C E , iVoz;ewJer




28, 1837r

$25,418,916 57

1S37.]

SECRETARYOFTHETREASURY.

123

B.
TREASURY DEPARTMENT, jP^cewSer, 1837.
S I R : I have the honor to transmit, for the informationjof the House of
Representatives, an estimate of the appropriations proposed to be made "
For the service of the year 1838, amounting to.
.$20,523,249 19
Viz: ^

^
-

•

>

Civil hst, foreign intercourse, and - miscellaneous
..
Military service, includirig fortifications,^armories, arsenals, ordnance^ Indian affairs, revolutionary and military pensions, and internal i m p r o v e m e n t s . . . . . -Naval service, includirig the maiine corps
,
....
To the estimates are added statements, showing—1.. T h e appropriations for the sei*vice of the year 1838,
made by former acts of Congress, including arming
and equipping the militia, civihzation of Indians, revolutionary claims, revolutionary pensions under the act
of 7.th June, 1832, claims of the State of Virginia,
• gradual impro venient qf the Navy, and public d e b t . ,
2. The existing apprbpriations which will not be required
;.for the service of the year 1837,. and which it is proposed to apply in |aid of the service of the year 1838,
amounting t o . . . . l
3. The existing appropriations which will be required to
; coiriplete the service 'of/the year 1837 and ^former
• yeairSi but which wiU be expended in 1838, amounting
: to.:..:..-.^;.J.....;....:.:..:....:..-There is also added to the estimates a: statement of the
: several appropriations which wUl .probably be .carried
: tb the surplus fund at the: close of the present year,
: either! because.the objects for w'hich! they were made
: aire'completed,-br because :these sums will hot be rei quired for. Or wUl no :ionger be apphcable to them,
amounting to. J.
.. . . . . . J.... J . . . . : . . . . . . . .;„ . :

3,172,884 98
11,664,612 09
5,685,752 12

.
2,262,000 00

3,782,551 20

10,359,091 8I

361,839 93

I haye the.hoaor to be, very respectfuUy, your most obedient> ser^^^^; :
; \
; ." ; . -fi\,

:•
/

• Hon. "JAMES'K. POLK,

;

i
;

L E V I WOODBURY,
;
Secretary ofi the Treasiiry.
;

'

; SpegJi^r ofi the Hoiise: ofi. Representatives.-




Be

Estimate ofi Appropriatioyjbs fior the year 1838.
/

Appropriations
m^de for 1837.

CIVIL L I S T .
LEGMSLATURE..

For conipensation and mUeageof the Senatorsj,nd members
ofthe House of Representatives, their officers and clerks,
and for the coiitingent expenses: of both Houses of Congress, viz: '
Fifty-two members of the Seriate, at $8 per day, estimating
180' days
. . . . . . . - . . . . . : . . . ; . . -...;. >
Speaker of the House of Representatives., at $16 per day,
180 days- - -.
.
- ^ . . . . - -. - - . - . . . . . ^
=
T w o huridred and forty-one members, a t $8 per day, 180

$74,880 OQ
2,880 00
347,.040 00

Delegates from Wisconsin and Florida Tarritpries^ at $8 per
; day, 180 d a y s - . >..
: . . . . . . . . : - - r -- - - - - r - TraveUing'expenses to and from the seat of Go vernment...
Secretary of the Senate - - - . : .
f.....-'-....-.-......
Principal clerk
,. L
; . . . . . . . . . . . . , . ; . . , . ..^/.
Two engrossing qlbrks, at $1,500 each, and three elerksat
$1,500, per resolution of the Senate-qf;i3.tb Oetober,
-'-'.'-^ooti/iicZ^er...--.. - - . . . . . . . . . . . . . . . -. -.......,. .••.'.........'
Chaplain, to the Senate
- -.;.'- -- r:-.-- ^.- - : - ; . : . ) . - - . . . . .
-Sergeant-at-Arms to tiie S e n a t e . . . . . . ^..^. p..'...:. j . ^ . ^.. Assistant Doorkeeper to the. Senate = = =. — ; ',\ . : . . . . ;



:; 2-880 00
MO^OQOOQ
;$5;67,6SO 00
3jQ0O 00
1,800;0D
7^50Q' OQ

700:00
5.00 - OO
1,500 OO
1,4;5Q 00

$363,163 00

vClqrk of thq .Hpusq ;0f I f e p r e ^ j ^
r^firf-* T;:? -;-;? f-^^^^ivr
Principal Clerk.. I
'
: . ! . . . . : . : . . ,;...„. ._,..;.^^.
;S;ix. engrossing clqrks,, at $.1,500- each,^ and- two - at ^1. ,5.QQ,
. per respliitipri .of the.H^
of l l t h October, 1-837.- -^- .-..^.
'Messenger . . ,
".
fi.—
^ h a p l a i n to the House of .Rqpresentatives
.Sergeant^t^Arnas .r^^*-^v-^..-;.-.,,^.._.-.-;. =..,.,.-;..•--.... ..^-w-^..:..^r.- f,.
x>'ooixxoe per. . . . . . . . a . . . . . . . . . . . . . . . . . . . . . . . . < . . - - - - .
Assi§tint;dpQi^eper,y...:..^;^
.^;. ."^-j,.:. .-^^^^.:^.^.-.w..-.-.--.
.Ppstmast^i;;^ p^elif^^f s(dW
pf l^th Dec., .1§32^

3,000 00
l,80p 00
12,000 00
700 00
500 00
1,500 00
. 1,M0.00
1,450 00
i;50t) QQ
40,400 00

.33,700 00

I N C I D E N T A I . A N © qONTINGENT E X P E N S E S O F BOTH-HOUSES OF

CONGRESS, INCLUDING STATIONERY, FUEL, PRINTING, &C.

For the Senate, as estimated by the S e c r e t a i y . . . .$50,000
F o r preparing, printing, and-binding- documents -or=r - dere^;fiy.;the re;splutiqn
^.e.nate .of ,2d July,- ... :
: 1836, 2 M February and 2d'MarcK
disbursed,-un^er thq d^
cq.mrnitte.etp.,
audit and ppntrpl the cpritirigent; expense^ of the
- Senate^. . . M . . . . . . . , 1 . . i - . . . . . : - . . - . : . . . ' . 25,000

54,550 00

75,000 00
For the House of Representatives, as estimated by the
225,000 .00
300,000 00

225,000 00

LIBRARY,OF CONGRESS.

Salary ^of the principal and assistant librarians.
Salary of the-messenger.
.;.. - . . .
Contingent e x p e n s e s . . . . ^ . .



2,650 00
70O 00
. 5 0 0 00

2,65Q 00
700 00
^500 00.

to

E S T I M A T E B—.Continued.

IO
Appropriatioris
made for 1837.

Purchase of books for the library of C o n g r e s s . . . . . . . . . . .
For an assista:nt in the librai-y duiing the session of Congfess, and for the extra session in 1837, at $1 50 per d a y ,

$5,000 00

$5,000 00

. 36Q 00

393 00
),210 00

EXECUTIVE.

$917,290 OQ

..,._';..„

Conipensation to the President of the United States
Coriipensation to the Vice President of the.United States..

25,000 00
5,000 00

25,000 00
5,000 00
30,000 00

Salaiy of the seqretarytp.sign patents for,pubhc lands, per
. a c t of 2d March, 1 8 3 3 - : . . . . . . . . . . . . . . . . . . - ..^^•. -- - . -

1,500 00

1,500 OO

DEPARTMENT OF STATE.

Secretary of S t a t e . . . - . . . -, - . . . . . . . . . . - . - . . . . . . ' . . i . . . . . -..
Clerks and messengers in the office ofthe Secretary of State.
Inqid.ental and qqntingent qxpenses of the Depaitment of
. State, including publishing and distributing t h e laws--.-.-.-

6,000 OO
..20,300 .00:

6,000 00
20,300 00

25,000 0.0

25,00Q 00
51,300 00

FOR THE GENERAL PURPOSES OF T H E NORTHEAST LEXECUTIVER
,'".;:,:'
.[•... . B U I L D I N G . ' • • . , . . . . - - . . - . . . - . . . . . . . . : • . •

Salary of the superinterident..,
^ '' ' f of the watchmen:*.. . . . .

$250 001,250 OO
1,500: OQ

Inqidental arid contingent expenses ofsaid buUding,including



1,500 00

fuel, labor, oil, repairs, &c.... —

...

3,350 ;0Q

2,500 00
4,850 OQ

.

TREASURY-DEPARTMENT.. . . .

56,150 OO

-

Secretary of the Treasury..
................................ —
Glerks and messengers. — . . . . . . . . ^ . . . . . . . . . . .$16,450. 00
Clerks, per act of 23d June,: 1 8 3 6 . . . . - . - . . - . - 3,600 00

6,000 00
•-

6,000 00
16,45Q 00
3,600 00

-

3,500 00
19,300 00

'

3,000 00

-

12,250 00

20,050 Op
26,050 00

First . C o m p t r o U e r . . . . . . . . . . .
.-..--.....-....-......
Clerks and m e s s e n g e r s . . . . . . . . . . \ . . . . , . . r- - - - - - -. - - -• - -

3,500 00
19,300 00

Second ComptroUer.. . . . . . . . .
.
.
..-..
...
Clerks and messengers, including two clerkships transferred
; from the office of the Fourth Auditor

3,000 00

22,800 00
12,250 00
15,250 00
FirstAuditor.-Clerks and inessenger..;:.......

....

•.,
...1.....

....

3,000 OQ
15,90b 00

•

3,000 00
15,900 00

"

18,900 00
The First Auditor estimates for an assistant messenger.; Sub. mitted, $350
Second Audi t o r . . .
...-.
..
...........
Clerks<and messenger:
..
»...
.-.

3,000 00
17,900 Q
O

Third Auditor
Clerks and messengers

3,000 00
27,250 00

-

3,000 00
17,900 OO

-

3,000 00
29,650 00

20,9Q0 OQ
.......
.....
- -.... . . . ....^........

...
.

30,250 00
The Third Auditor estimates for two clerks, employed under
the act of 18th Januaiy, 1837, for the payment of horses
and other property lost or desti*oyed. Submitted, $2,400.



E S T I M A T E B—Continued.;
Gp

Appropriations
made for 1837.

Fourth A u d i t o r . . - . . . . - .
pierks and messenger—

.—...-..-.
.......•...-..------,
....
. -... -.. -.. - - -.. ..^- -.--.

$3,OQ0 Q
O
.16,950 QQ

--*
-- - -....-.-.-.-. -. -.-.

3,QQ0 00
9,800 ;oo

$3,000 00
15,;950 00.
$19,;95.0 0 0
.

Tilth Audrior. ----,,Clerksand. messenger.—:...,...

.......o..-

3,000 .00
•;?>§QP QO
12,800 00

The Fifth Auditor estiniates for, twp, additipnal clerks, renr^
dered necessary by the great increase of business in the
hght-hpuse establishment.. Submitted, .$2,000. - .;
-Treasurer of., the. United States
. . -•... -.... - . . .
Clerks arid m e s s e n g e r . . . . .
^

\3,0OQ 00

^ 3,000 00
l i , 0 1 4 64

ijft^SflLoa
13,75Q 00

Register of the Tre^^
. . - . . - - . . . ^... . ^ . . . . . . . . . . . . .
Clerksand! messengers....J..-..:..-.i.....:
.....—..
.
For' additional t e the assistant messenger for increased labor
. and responsibility, arising-from his.havingthe xJiarge ofthe
' firerpropf ;building, .which is.. considerably detached from
. the other houses occupied by Register. Submitted, $200..
Commissionerof General LandOffice, per act July 4,.1,8„8.6L,,,
Salaries pf re.cprder, s.phqitoi*,. draughtsman, and.assistant
draughtsmari,,. clerks,, messdngers, ..and packers, per act of

. 3d March, 1837^^1 .^"I-.......

' 3,000 QQ
24,2QQ .00

3,000 00
24,;200 ,00

^ 7 ^ 0 0 00

J,O.QO 0 0
,

3,000 00

..'.:.. 1:1...'.! 107,850 00

1Q7,;850 00
110,850 0 0

Solicitor of the T r e a s u r y . . . . . - - , . - - . . ^ - . . - . .
Clerks and m e s s e n g e r . . - ! . . . - .



3,500 OO
3,950 00

3,500 00
^. - . .

,^aM.„oo

7,450 o6

EXPENSES. OF STATIONERY, PRINTING, AND ALL OTHER; INCIDENTAL AND CX)NTINGEN.T :^XPENSES OF THE -TJIEASU|IY
: D E P A R T M E N - T . . . . . . j ; . " . , . . . , J . . . . . v . . . . . ; ;•;*;... ' ;
.;.

<! dffice of the Secrqtary of thq; Treasury, including copying
and expenses incurred in consequence of the burning of
-• the Treasury building, w . . . : . . - .^ . . . . . . . , . . - . . . • . . - . : . .
] - For translating;fpreign;languages," arid for' receiving, and
CO
transmitting passports and sea letters in the office of the

12,500 00

12,500 00

Secretary o^ the Treasury"..::'".".::.:'.'..':::'.::: \ : : : : :
f

§00 00

3,000 00

•300 00
11,400 00
2,000 00
1,500 00
"-: 800 00
1,000 00
. 1,30000
: 1,000 00
- 1,00000
1,300 00
3,000 00

vl.500 00

1,000 00

o.

For stating and piinting" the' pubhc " a c c o u n t s . : : : : . : : : : . : :

Office
'•

• 1,40000
of .the First. Cpmpt|*oller.'_'..:.:'.'..'.'.:'. ~ ' . \ ' . : : : : : :
.
2,000 00
•—1,500- 00
Second CoriiptroUer
.-..
;:First:Auditor.--:-=...----..-. . , . . - . • . , . : . , . . :
1,000 00
Second Auditor:I;-.-;iI^.-,-...-.ii.'.:.'..::"-:.
1,000 00
2,250 00
Third A u d i t o r : : : : : : : : : : : : : : : : : : : : : : : : : : :
11,000 00
FPurth A u d i t o r : : : : : : : : : : : - : : : - - . : : : : : : : .
1,000 00
•, Fifth Auditors.-l;^..'--.'--'. J :..,::-u--.:;...-.i". ,

' ,:. Treasurer of the United S t a t e s . : . : . : : - . : : : 1
Registei;.of tl^e, 'ri;qasary-.,- - -.
Sohcitor of the Treasury^ including $500 for

^•'

i;5oo 00

law'books.-'.".'.:.:!"..:"."-_^-;v_i:i..:~..*-"

' . '••••••' ..-Comndissipner of die: General Land; Office,'^^^^^^
/ ;.,
appropriation asked forL' . . : . ^ .w . . : . < . . - . . : .
For salary of the superintendent and threq Watqhriieri for the
additional buUding occupied by the General Land Ofiice.

39,250 00

1^050 0 0

1,450 00

$31,400 00
FOR THE GENERAL PURPOSES OF THE SOUTHEAST EXECUTIVE
BUILpiNG.

Salary of superintendent.



«,» ». o. . . . . .$5p0 QO..

1

, •

E S T I M A T E B—Continued.

CO

o
Appropriations
made for 1837,

Salary of watchriien.

.$1,600 00
$2,100 00

$2,100 OO

Iricidental and contingent expenses of the buildirigs-occupied
by the Treasury Department, includirig fuel, labor, oil,
repairs, furniture, and. for rent^ amounting to $4,350 per

annum . . . . . . . . . . . . . . . . : " . . . • . - - , : . ' - . . . : . . . . . . . . : : , .

14,100 00

WAR DEPARTMENT. . .

Secretary of W a r . ...... ...........:.-.. — . . . i .
Clerks and messengers, including"messeriger in the-Bounty
Land Bureau;.. ^
. . . . : : - - - : - - . : . - - - . - - - . . . :V:: .

Contingent e x p e n s e s . . . . . : . ' . : : . - : . . . . . : - - - - . . . : : : : : :
Books, maps,, and plans, for thd W a r Departrrierit: -" J . . . . " ."Compensation, of exti'a clerks, when eiriplpyed iri .said bflSce:

12,000 00

12,000 00
371,650 00
6,000 00

. 6 , 0 0 0 00

13j250 OO
3,QO0 00
1,000 00
3,000 00

13,115
3,0QO
;i;0QQ
2,500

71
00
00
00

26,250 00
Commissioner of Indian Affairs I . ; : . . . . . , : . - - - . . . . ' . . . . . . :
^Clerks, arid m e s s e n g e r . . . . . . - . . . . . . . . . . . . . . . . : . . " : . . : : .
Gontingent expenses.... - . . . . . . . . . - - : - : - . . . . : - . : . : . . - : .

3,000.00

3,000 0 0

16,400 00

16,400 00

2,000 00

2,000 .00

21,400 00
Commissioner of ; P e n s i O n s . . . . . . . . . . . . . . . . . . . . . . . . $3,000
. Do. - deficiency in appropriation for 1837.'; "500

2,500 00
3,500 00

Clerks transferred from the office of the Seeretary
:- df W a r , ; . . . . , . . . . . . . . . . ; . , . . . . . . , .
. . . . . . . . . . 4,800
Clerks and messengers, per act of 9th May, 1 8 3 6 . . 13,450



4,800 00
13,450 00
18,250 Q
Q

Compensation to a person employed, in making an abstract
of the pension laws, and i n preparing t h e ,.papers -foi*
Congress, under the resolution of the House ofRepresenr
-tatives of October 9,1837.... v l . - . ...^.fi. - ->.:-i;^ .^- - - - . . .

500 00
22,250 00

Clerks and messenger in the oflice of t h e ; Paymaster
General..;. - . . . _ ...
Arrearages of salary for one clerk in 1837
...
....
Contingent expenses .
;...-....--....
..
. -..

4,600 00

6,100 QO
087 50
300 00

300 00
6,687 50

Clerk and messenger in the office . of. the. commanding
general..-.^
—
....
..— ...
..
Contingent .expenses . . .
^ - - ^. - . . . .
. - r.;. - . . . , . . . . . . .

1,500 00
300 00

Clerks and messenger in the office of the Adjutant General.
Contingent e x p e n s e s . . . . .
.,. .— ....
.

7,.65.Q OQ
1,600 00

1,500 00
, 300 00
1,800 00
7,660 00
1,600 00
9,250 00

Clerks and messenger' in the office of' the Quartermaster
. G e n e r a l . . . -.
.-Cpntingent e x p e n s e s . .
.
.

7,300 00
600 00

7,300 00
60Q 00
7,900 00

Clerks and messenger i n the .office, .of -the. Commissary
Generalpf Purchases
........
.. ............
Contingent expenses
..::.....-.....:....:.

4,200 00
• S O O 00

3j250 00
800 00
4,050 Qi)

Clerks and messenger .in the qffiqe of the 'Commissary
' General of Subsistence.-- . . . . . = = . . . . . . . .
Contingent expenses..
*

4,300 00
2,600 00

Clerks and messenger in-the office of the Chief Engineer..

5,650 OQ

4,300 00
2,^00 00
6,900-00




5,650 00

ESTIMATE .]B—Cpntiaued.

OOAppropria,tio n s^.
made.for:!l;8a7:^

Cpri^tirigen^ e?:pqnsesin Cliief .Eagipeer's ^.Qfficq, inqluding
. $1,000 arrearages aiising fi'om the reinoval ofthe office..

:|2?0Q0..QQ

U,OO0 00

$7^56 BQ
Clerk and messejiigq.r in .the. office-of t h e . Surgeon -General.
Coritingent, experises... .;..=.-.,..,.;.......-. -..--- ..;...-j^. .^ ^.^;.

1,6^0 0Q
• 700 bo

1,65Q Qd
5Sd 00

Clerks and mqssqriger in the-Ordnance Qffice
Contiiigent-expenses
.
. « . -.=.

8,g50 00

8,6.50 Q
Q

.

.^91S M
9,565 00

Clerks and' messenger in the Topographical B u r e a u . . . . . . .
Cqntingent expqasqs. ^ *. - .
.......
......

2,500 00

1,^5^ §Q

If-

•/} T i l

.M&^ i)Q
2,500 00
^ ^ 3 5 QQ

3,7^5 00
Salaiy of clerk in the Clothing Bureau, trarisferred from the
pfficq:of>theyCqmmissaiy. General -of.Purchases,-per act
•'- of May'24, iS34..'.
.'
..
.....
Messengei; ii^r^saidpffiqe...,.,.. .„,..,. ---,--.-,-;-.......;,.-^.w

.9^50 00

L95O; OQ,

500' od

5otf do
I,4§Q QO

F0]^^HE'G;|)Nj:4t^.]P^^
-':,,,j;;:;;
/.
.-• . ''-

T H E NORTHWEST.EXECUTIVE
;• BT^ILDINiG^.-^ , ^ ^ / . . . . . .

Salaries pf thq su,pepintendpnt^and.Ayato^
.,..;.....,..
Contingent expenses of said' building, iricluding rent of
Bounty., L g^ad Office.^, ^nd ,foi- alterations made in -grounds,
a^d, ne^?v;butbaUdiri^
jalteratiqn
in the aeyacent grpuads^df tfe Ex^^pJitjyg ])1fensiLpn.,^. .^.
For. propprtipn of the qpst pf a^^^
^^^^



2,250 00

2,250 00

4,800 00

3,183 00

.. ;800 fOO
- the/erigirie hdu=se authorized, by the; a^t df'May 3," 1837'.'.
For proportion of the contingencies of the fu*e engines and
200 Oo
ar)r)araLUo . i. -i i* •*>. *.. »*-.' .".•.-.'• .^i—. -.'-^ -^. •-••'•.••i-i • • • ' ^ i . . . . . . . . . . . .

•

"•'--7#50-O0\
138,787 50

NAVY DEPARTMENT.

6,000 00
lg,k50 .00
3,000 00

"Sedretaiy of thei>favy.'i: iv; v .^.;.- i ^•i-v^-.-'.'Vi.'vwL i-^ '^i^i-'.I'X^ v-,-'Cterics arid-MesserigersL'> .V.ii.*i^.i--^v: :<i^'.".".,'.V.'.'fi.''.'.. .fi.
ContingeriJt e±peri:ses..: :'^..^i i i-2- - : j . - . i/^H -.-.d. I-,, i i-. ..v'.-.-'.

.

.

; ^yOOO ^ 0
)12,850 00
3,000 00

•

21,850 00
The Seqretiary^ of die Navy- ^estiriialtes'-for; (dmd .additional
:., :t!Aqrkv Subrriittdd^ i$i;0OO. - • • - -;
'
10,#0O .00
Corilriiissioners^bf the >Navy Bdard-.':^..:";: . 1 " . . . ^ : -:^".';.
Secretaiy.
-—-2-,-OOO~O0
'Clerks^aindrndsserigdr-'^ - .^ .:. . . ^ L>.':v'iC;wV^i-> ^-^^. .^4 -. i::.
!8,-46:0 :0O
CWfeigerit experises..'.;: . y . . . : . .v^ v^. ^.u-;.'.,:. i....,...•^•i^i
li&OO 00
;

The GdrririiJssioriers df' theT^avyBpai^iestimatd^for
ditiorial dlerii. Sribriiitted; $1,000;";
""
FOR; TliE GE{I>TEaAL iPtJI^
: , ; • • / •

; • i

'

• ' • ••

• •

,

.

,

.

-

.

.

,

•'

•

:

- '

. :

. '

r

>.-•

10^00 OO
2,000 00
8,450 m
^ 1,800 00

• "•

.
.
22,750 00.

. • ; . , . . .

ad- j
;

-

>

'

f

•

•

•

•

•AU

•

p F T H E SOUTHWEST EXEP^^^^
•" B U I L I U N G :

- - - • • • • - ' - - : - • • - -

of superintdriderit.: - " . ' . . . . . " . . . . . . . .
Salary of watchmen, at $500 each

-••• - -

•:

^

.1,000
1,250 poj

Contingent expenses, including fuel, oU,^ labor, repairs of
building and engine, and improvement of grounds



1,250 oo;

3,350 00 ':

S,3SQ 00
4,600 00
49,200 00

E S T I M A T E B—.Continued..
f
VyV^liLillLX^Ct

05
; • ' ; ; ' • ' : ; .

^ ; v

Appropriatioris'^
; made for 1837. ..
POST OFFICE DEPARTMENT.^ <

a%>

Postmaster General. . . L . . . . V . ' . . . . ' . .*.'..'- -*..\ . . . . . , . . .Three Assistant Postmastei-s General
Clerks and m e s s e n g e r s . . . . . . . . . .
,.: — Two watchmen, at $300 e a c h . . — . — .
.......... 1
For topographer and additional clerks, per act of appropriatiori of M a r c h ^ 3 , ; 1 8 3 7 . . . . . . . . J. _.,
For rent of .the building now occupied by the Department,
per agreement... - - - - - - - - . - -^- For'contingent expenses, iricludirig fuel for the Auditor's offiee
For arrearages for the yeari837, tobe "explairied to Congress

$6,000
7,500
48,600
600

00
00
00
00

•

10,200 00

-

Auditor for the«Post-Office Departirieiit...".'. : : . . .'s.;.."."
Clerks and messengers . . ' . . • :
Five additional clerks, per act of appropriation of-March 3,^

;3,000; 00
55,500 00

.

$6,000
7,500
48,600
600

-

10,200 00

4,000-00
8,500 00
6,749; 98

00
00
00
00

J

s

5,000 00
10,000 00
6,700 00

O

$92,149 98

6^000-00
Contingent expenses, iricludirig "the expense" of' quarterly
. books, stationery, printing,laborers," "&c. .'. : : : . ; . . : . : ; . . ' '
Arrearages of contingerit experises consequent upon" the oc-.
cupation of the hew office
,
.....
.....
.

.

"'••":;''•' ''

4,200 00

X3,0OO 00
55,500 00

-.

6j0O0 00

*

tF3

0

> 8,200 00
3,237 00
-- 71,9'a7-Q0164,086 98

•

^

StrilVBYORS "AND THEIR "CLERK^.""

- - - " - " " .

or General northwest of :the;Ohio.:.,.\ ^i^.;. ^^....;;



2,QQ0 00:

.

o

•

2,000 00

HA

00
.CO

Clerks, in addition, to the-unexpended balance, estimated"at
. $1,400, that will-remain.at the close of this y e a r . - . -—..
For additional clerks,, for transcribing, recording,' &c. - - - - -

3,000 00
6,500 00

( 6 , 3 0 0 00
11,500 00

-^- .^^000- 00^
Surveyor General;for Ilhnpis.and Missouri.
Clerks, in addition to the unexpended balance, estimated at
'3,200 OQ
$4,500, that will rem aril at the close of the year 1837..-,
Surveyor. General for Arkansas".:. ^...'..".'.".".'. \ . :.\ \ : " . " . . . .
Clerks, in additipn to the unexpended balance, estimated'at
$2,000, that will remain a t t h e close of the year 1837: . .

2,000

;oo

;:2,QO0 .00

•

3,820 00
5,200 .00

0

2,000 00

.3,Q0Q 00

3,300 00
5,000 00:

Surveyor General for Louisiana . .."...•.-".'.•.:'.*.-'..:..".•..•.
jClerks, as estimated f o r - 1 8 3 7 . 1 . . . . . . . . . . . . . . . . . . . . . . . .
Surveyor General for M i s s i s s i p p i . : . . . . . . . . . . . . . . . . i . .
Clerks-^-^for this object the.balarice of former appropiiations
will, be sufficient

2,000'
2,500

2,000 00
4,300 .00
O
2,000 Q

6,300 0 0 :
2,000
5,000 00
2,000 00
Suiyieyor General for A l a b a m a . . . . . . . . . . . : . : : . " . . . . • - ' . . : .
Glerks, in addition, to the unexpended balance, estimated at
$880, that win -remain at the close of the year 1 8 3 7 . . : v
For ad.ditional clerk hire, contiiigent upPn the survey and
return of the Cherokee cession.
^..
-Surveyor General for Florida. — . . ^ . . : . . . . r . . . : . . : . . , - .-^
Clerks in addition to the unexpended balance, estimated
at $4,762, that will remain at the close of the year
1837........
-.-.............._..'

2,000 00

2,000 00

2,000 00

1,320 00
\ 2,000 001,500 00

'•-••

;

" ' :~»t.'

*

" *

-

4,820 00




2,000 00

2,000 00
4,000 00

/

3,000 00

E S T I M A T E B^Continued..-

GO

.

-

:

l ^ \ u P j ' '.I'S

Appropriations
, made for 1837.

'-

For, office rent, fuel, and -a; laborer, for "each" of the "offices of
the Surveyors General, a sum not exceeding $400
;.' -. " . • •
.
Comniissioner of tiie Pubhc Buildinigs,-in Washingtori-, per
. act ;pf^lst July, 1836. -:v. . u . . ^ .-^.'.. . : i . . 4 . : . . . . . : : : J ;
Three'assistants to Commissioner j as; superintendent of the
. JPotPiriae bridge^ at $1 5 0 ^ e r d a y , ' e a c h r : : . . . . : : . : : . .
Oil for lamps „ . ,
;.

i ; : w :

i ?• •
- - — • • '

—-

"

-"

•

1,642 50
300 OO

!

:

.

-.

'

$3,500= Q
O
©ompensation-to the Director of the Mint:v::.-.:.".'.'."..'.";
^ -. . . .;^: , •-.. .; treasurer;. : : : : : : : : : . : : : s : - . : : : : : : :
^
2,OQ0 00.
chief coiner
..
^ "^"2=,00O00-^ ....
..'- •• -* assay ei^T •;«•-. ^.-.--4-.-''-.'•'-.-.•»-••'» .i i»-.i---.« 2^000 00
2,000 00
^ ; .: .-^\ •'/
;:'t ^mBlter and refineri^:-L^i.. .L'i .'j.Cj.'.i» i..
V-:.-'^; .... ^ '
•engra;ver .;.-. .^.;r.:-•-"-'. ^ r . v . : . . * . . .
2,000 00
second engraver, .v ..,
^ -._..! „500-00^'
lv300 00^
;.';•;.; . ; / • ;v •. assistant ^assayer-^ w i.-i.'-"i .'.t.:.•..•.V3,400 00
,; V i ; i ;^
two clerks at $lj200v and one at^lyOOO[.

Compensation to laborers,' and for incidental and contingent
• /expensesyin addition to the unexpended baliariice of 1837Compensatipn lo the superinterident of the.^ Brarich -. Mint" a t
^ .PhariptteyNoith C a r o l i
^ i ii.^ vi.:.[^'fe:iw^4-^^;i 4^..^-wi ^.».



. . . • . : - , .

:>'.

• ]

•..

w

•

...

-•

•

.
•

-.

• '

.-v

;

...

•/

; .

;;

2,000 1

' \ - : . . .

f

.•

•'

;

.

•

1,642 50

;

\

••

:

' ' / : \

• ^ • :

pj
N
>t:l
O'
. Si

^^.
.m
.- , .- _.

-•;

" ' ' / / { •

"
•
• / ' - • ^ ' ' ^

_.:

.

'
\ / ..5

•

1 l$2,30O 00

4,262 50

"
^teNT OF THE ^ U^^^

,,

$41,620 00

2,300 00 1

. •

-

'i

$2;800 00
-

-/)

i

B

. 9-

^ i / . l '-'.'l
0

:.^i:

19,700 00
15',30O 00 • '

'"

19i7m 00.
r

124,000, Op
) /• - - : : ^

f4*

GO'
CO

/

-.
- .
V

a s s a y e r . . . . . ^.-'i. . . • ' . . • . . - . . • - » . ' . . . j
coiner:::.::::::.::::::::::::::::
; ^ n e t^lerk : : : : : : : : : : : : ; : : : : : : : : : : ;

1,600 ooj
1,600 00
1;0OO 00

Compensation to laborers in the various departments of the
Branch- at Charlotte,. North Carohna
Incidental and /contingerit expenses of the._.Branch Mint .at
^eitariotte, Nbrtii- Gdroiiria^ vii2^: - '
•' ' ' ' • " ^^ "•
2;0OO 00
"SV^astagcbf g o l d i . . . . . .L .;CJ. . i ^ ^ : : : : : : . : : : : : : , : : : : : : : :
. iroiiv steelj l^ad, 'Castings,"chemical agents,' icopper for alloy,
2,000 00
,;zin(?,oii^ tallow j crucibles, melting pots, and repairs.:;.^, i
.Wood and coal for the stearii engine, 4nd furnaices, cind 'for
1,000 00
;. thie different offices;::;^-vU^H'^i"--5---'-'--w>^
Stationery arid taxesj.i = . , : ^ : ^ . * - " - \ " . " . : : : : : : . : : : : : : ; : : : : : : , : :
..."•400 .00
Cpmp'ensatipla td the superintendent of the Branch Mint at
' Dahlonega, G e o r g i a . - : . i ^ i - ^ . . . : . . , . - - J : ^ . - : . ^ L ' . ; . . . i . i . i 1
2,000 00
; • ; . • . - ..'
: /^ssd^yer'.'.'.v.".'.-.'.'.\'.::::::::::::::
1,500 00
•. ""v • = - ; ;'• :• . .:Goiner^...^.-..^.^^^i-i. L,:.iiav.vCi-Li.>. .•i••—1-;-500- •00
one clerk.. - . . : . . . : . *iv.;i:: - : . - : : : :
l.,000 00
Compensation to laborers in the various departments "of the
Branch Mint at D a h l o n e g a : : . _ : . : : : : . : : : : : : : : : : : : : :
Incidental and. contingent'expen"ses of the "Branch "Mint at
Dahlonega, Georgia, visjv
"
'
. - .. •
-2,000 O
Q
W;astage -of g o l d : . : : : : . : . : . : : ^ : . : : : : : : : : : : : : : : . : : : : .
Iron, steel, teadi castings-, chemical agents, copper for 'alloyj
2,000 00
.. zinc, oil,^ tallow, crucibles, nielting ppts^ and^ repairs".'.. - ,
Wood and coal for the steam eiigine and furnaces, and for
the different offices
..
.,.
1,000 00
Stationery and taxes
400 00



6,000 00

6,000 00 I

3,600 00

1,500 00

5,400 00

5,500 00 ,

6,000 00
3,600 00

6,000 00
1,500 00

5,400 00

5,500. 00

E S T I M A T E B—Continued.

CO
GO

Appropriations
made for 1837.

For encipsing the. Mint iPt, and for o u t b u i l d i r i g s : . . . . / . . . . .
Comperisation to the superintendent of the Branch Mint at

/ New O r l e a r i s v . . : . . . ' . . : : . . . : : i ' i : : - ^ ; . : . - . . . . ; : : ; : :
' ..

.treasurer . . . ^
coiner.:-^.
--.-....>..-... .
;• ;
-• • • a s s a y e r > . : ; : : : : : . : : : . : : . . l i : : .;•;•:;
: ;• •
melter and r e f i n e r . . - . . - . . . . . . / : . . . . . .
'
two Glerks at-$l,200-each : : : : . : : . : :
Compensation to laborers in the various departments of the
Branch at New .Qrllans.. - . . ' . . . . . . . . : : : : . . . " . . . . : ' : 1:
Indidental and contingent expenses; of ^the: Biranch Mint at
; New Orleans, viz:
^
/Wastage: of gold and s i l v e r . ; . ' - " . . . : : : : . ; ' . : : : , . : : : : . ; . : : :
iron,- steely lead,; c.ia.stings, chemical agents, copper" for alloy,
;• zirie, oil, tallow-, cruciblesj melting pots,'and repairs .....:•
Wood and cpal for the steam engine and furnabces,and"for
- the.differerit \offic
. - . . . . . . ; - - . . : . . : . . . . . . . ; . j . I^.:
Stationery,;;water rent,"and t a x e s : : . : : : : : : . : : : . : 1. :•:: l :

$5,000 00
$2,500
2,000
2,000
2,000
•2,000
2,400

00
00
O
Q
00
00^
Q
O
12,900 00
22,000 00

12,000 00
8,000 00
6,000 00
1,100 00
27,100 00

GOVERNMENTS IN T H E T E R R I T O R I E S OF T H E
fifi-i •/•//fi/ { ' ' . ' V m E X ) ^ S T A T E S . ; . : . / ; . : . : ; . . . . / : . : . : .
'^

.

; ;.:

WISCOISrSIN T E R R I T O R Y .

132,000 00

18,600 00

'

Governor
J
..... —
;..,
Three judges, at $1,800 e a c h . ; : : - : : . : : : ' • . : : : : : : : : : : : : : :.
Secretary....
...:.--:::::::::.:::::.::::::::::::
Contingent e x p e n s e s . . . . . . . : : : z i ; ^ : ^ . . 1. . ^ J : : : : : : ; . : . . :



$12,900 00
13,000 00

-2,500
5,40Q
1,200
350

00
00
00
00

9,100 QO;

Cprripensatipn and.riiileage ofthC'nieinber's'o'fthe;Legislative
V, Assembly, pay^ef-officers^of the, Gouncir, pri'nting,'^s"t^tioriery, fuel, rent of buildings, postage, newspapers, furniture, and taking census und"er"^pportiorrriient to "be made
of members ofthe House"df"Representatives for" 1839.'.'.'."
F L O R I D A TIERRITORY". ~ " "
..

Governor....

"

•

-

.;';*

46,515 00

39,075 00

29,625: 00

«-. ^ -

.. ^ .. J „ L ^ . . . . . . . . . ..

...„„.,„.„•.,

. . ; . . . i;. 1 : 1 : : : : : : : : : : : : I: J : : : : : J I : . :

Three judges at $1,800 each, "and One .at $ 2 , 3 0 0 . . : : : : : : . :

Secretary.

; , \ '

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

Contingent e x p e n s e s . . . . . : :::."::.."_".".".."."......-....".. 1
Coriipensation and iriileage of the members of the'Legislative Council, pay of officers -of the' Council',' stationery;
fuel, pririting, and copying the"laws for the" printer," &c.:.

2,500 00
7,700 00
1,500 00

350 00

11,700 00

• .
•

350 00

- •

10,335 Qo

10,000 00
22,050 00
61,125 00

JUDICIARY.

;

.

.-

Chief Justice of the ^Supreme C o u r t : : . : : . . " - ' J ;.".:.-•.W ;
Eight associate judges, per "act o f ' 3 d March, 1837; at
$4,500 e a c h " . . . . . . . . . . . . . . . . . . . . . . . : : : . . - : : : : . . . ' . : . :
Two additional judges, from 8th March to 31st "Decerilber;
1 8 3 7 . . . . / . _ . . . . .•... . . ^ . . . : : . . . : . , : . . : J: . : : : : . : : : : : ;

District Judge of Maine.
;.;/;•




v.-^ - . - - . . . : - . : : . : : : : : . " :

NewHampshire............:...':.:..;.
Massachusetts........
...
.
Vermont.
^
Rhodelsland.......:-......
......
Connecticut.
1

5,000 00
36,000 00
7,500 00
1,800 00
1,000 00
2,500 00
1,200 00
1,500 00

1,500 00

E S T I M A T E B—Centinued.

g
Appropriations
made for 1837.

District Judge of New York^ riofthem d i s t i i c t : : . :
•
:-: - ^ . D o .
~ "southern district.:::
" ' ' "New'Jersey...:...».: I : -.::::
^
' ;
; Perinsylvanta> eajsterii district .;
; ;
'
Do;
^westertfdistrict".;
—
.
Delaware, .i;^ . . . . : . % . ^I-L ^^i'.,
.; ;- . :
\ Mai-yland i . . . ^ . : " . : . . : '."..v.".
Virginia, eastern district
..,,
.
,
Do. .'wegterri' distiict
..
Kentucky
,
Tennessee
•;.'-.;

• •• O h i o : . . ; L . - . J - . • . ^ : . ' . - : i J i - • . . . . • • - 4 ^ . - -

;.; • ; Npith Caj^ohnai. i I .-li^ij^w w
;.•
;-• V
South Gafphria.-i::i iv-"^-Li..^:.
:. .
'
''Georgia::::::;:".v;.:::'.*.'..:
• -;'- .
••-'--- IiOuisiana;.V::::::::::.:.::;
/':'••''•"•''. •-'- 'f • Mississippi.v-i-Ui^i-^i.'.^;;u^v:;
<,>' ; : / : • • : "" I n d i a i n a : : : : : : : : : : : : : : - : i - : :
Illinois
r -.
Alab^fiaia>,. i^^^-j'^j^ ^ i ' i ; i - l . . . .

^

"

Missouii.-

'•'--•' '^"'•- .'• :-:^-..Afkansasu^ka--'.-iy-:-"J->^^^^^^
Chtetf': jkstkte'o^i^eiPfetrifet'p
(Two A^Sociaite J u d g p j - a t



,
4^,

$2,000 00

3,500 00
1,500 00
2,500 00
•.;1V800 00
1,500 00
i2,000 00
1,800 00
1,600 00
1,500 00
-1^00 00
il-,000 00
2,000 00
2,500 00
2,500 00
3,000 OO
-2,00:0 00

1,000 00
1,000 00
2,500 00
r -i;200"00

:-iav5oo m
2,000 00

2,700 00
5,000 00

$101,400 00

$84,90& 00

.

-.

.prian's Court,/Vyashington, counigL^
^ , ' Alexandria county.'.rir^.-~,

.

l,00p 00 j

800 00
9,500 00

Attorney General ofthe United' ^tatesL — -, -• - ^ r,t-*——
Clerk and messenger
i
-^..-. .,.^.-^.^..-.
Contingent expenses
:-...-..
-. .^^
Reppiter.of the decisions pf the ^upremcCourt. —:.... .<,
District Attorney, Maine
, -,-|--.
New H a m p s h i r e l . . - . ^—
.^..
Vermont
r
--Rhode Island
r
Connecticut
.„..
;
, , ., ; ;
New York, northern district
-.-. •-'•'' •/ • •^'' '//
New Jersey-.--^
....—--.Pennsylvania, western district
.^.
- ,
Delaw-are
^ . . . -^
Virginia, eastern district-..,..
,.
Do. western district..
— ^
Tennessee, eastern district
.^.^. .
Do. western district.
^
'
Kentucky
Ohio.l
North' Carolina
;; ^,^ ^,-_r :/'',./ ;, \ G e o r g i a . , . . .
1
""'^' '• • ^ • '
Louisiana, eastern district
Do.
western district
"•.^'••^'- •• • ' • - • - " • • ^ " ' ' - • " M i s s i s s i p p i - . , . . - . : . - . . ."




Indiana . - . . = , .

.^.. ^,,.

|
.

4;OO0 00

4,000. 00
1,300 Qp

1,3Q0 00
500 00

500 00 1
200
200
200
200
200

oo;
00
00
00'

op-

- 200 oo
.
200. op

200 00
200 00

200 00
200 00
200 00
200 00
200 00
200 00
200 , 0
0
200 00
^ 600 00
200 00
- 200 00
1
200 00.1

9,500 00

5,800 00
1,000 OQ,

1,000 00

ESTIMATE B—Continued.
.'• ^
$200 00
District Attornev. I l l i n o i s . . - . .
Alabama, northern district
-..-.
200 00
Do. southern, district
200 00
Missouri
^..
200 00
Michigan......
—^
.....
200 00
Arkansas .^
200 00
Florida, eastern district..
200 00
200 00
Do. middle district.
200 00
. Do. western district
200 00
Do. southern district
^.
250 00
Wisconsin
...>.
..-..
200 00
Marshal for the district of Maine
,
......
200 00
.: .
_:.
New Hampshire — ,
-.-..
200 00
Vermont
200 00
• Rhode Island
-.
200 00
Connecticut
.-.
200 00
;,
^
^ New York, northern district.. .-.-200 00
New J e r s e y . . -^-. -. .
Pennsylvania, western district... ..... 200 00
200 00
Delaware
-..
200 00
- Virginia, eastern district. < - . . . .^
' 200 00
^ ,
'.
J , Do. western distrct. - . . .
' 400 00
North Carohna
200 00
Kentucky
200 00
_„__.;
Ohio. .^
J. . - . ^ . . . . . . . .
.200 00
—--.^^
Tennessee, eastern district
0,-0



i
Appropriations
made for 1837.

•

,

'

'.'

. '(

1

; ^
'

.
\ /
../

• .'^

-'
-

, .
...;.,
'

Tennessee, western district
. . Louisiana,, eastern district — . . - .
V .Do. western d i s t r i c t . . . . . . .
Mississippi.— . . . . . . . . . . . . .^
;Indiana..--.....--.....--. ...
Illinois.-^ . . - .-.-.-.....,-.
.
Alabama, nforthern.district
..
Do. . .southern ..district..-.-...
Missouri. .^..-^....:.... ^ . . . . . . . . ; . .
.;.Michigan^---......-.,->.^.^.,...-..- — . :
xxrKansaSaa4.«•••--.-.•.'...'......•'.-..•.. . . Florida,, eastern d.istrict-..........
Do. middle district
Do. western d i s t r i c t — . . . .
Do. southern d i s t r i c t . . . .^..
Wisconsin..--.....,.-..... — .

200 00
. 20-O 00
200 00
200 00
200 00

-2oo:oo
200 00
;2Q0.0O
200 00
;20Q_00
.200.00
.200.00
200 OQ
200.00
200 00
.200 00
$13,250 QO

For defraying the expenses of the Suprenie, circuit, and district cpurts of the United States, including the District of
Columbia; also .for. jurors . and witriesses, in: aid of the
funds arising' from fines, penalties, and forfeitures incurred
in the year 1838, and preceding year.s; and likewise, for.
defraying, the expenses: of suits in which the United
States are concerned, and of prosecutions for offences,
comrriitted against the United States, and for the safekeeping of prisoners.
...'
..........
For expenses of printing the records ofthe Supreme Court.




$13,250 OO

330,000 00
3,000 00

330,000 0 0 ,
3,000 00
$463,950 00

. TotaLcivil list.

^...

2,431,621 98

ESTIMATE B—Continued.
.
•" : : "-' • < • •;•• •^

• ' ' ; A N N t i i T i E S ^ A i v r i ) . ' G R A N T S . ' =•-•• — - ^.

Josiah H . Webb, .per actof December 12^.1^^^
n-?-- RachelD;oherriiaKper act pf'M^
fi.,'^....
-.-....Elizabeth C. Perry, per act pf ^arcH'2,.;i82J 1 . ; , . . . . . : . ! ; \ . . .
Elizabe?h'M.^^^fe
•

•

•

'

•

Appropriations
made for 1837v

^]yfiscELLArp:QWS..:,..,, ,.^
•--— .

pf $150, per actof M a r c h 2 , 1 8 2 1 .
•

•

.

..

.'

•

\

,

•

.

•

'

,

300 OQ
$1,050 00

•

$1,050 00

356,863^00

298,055 00

L i a H T - H O U S l B ^STABLISHMETO^^^

For the support of hght-hpuse.s, floating .hghts, and other. estabiishmep,ts
for the protection of navigation, s.upplying ligh.trrhouses with oil,, tube
glasses, buff skins, and whitingj wd; keeping, the. apparatus in. i:^p^,r^
viz:
.
\ '.[. ; _ ; ' ' ; ' , . • ; " ; ; • ; „ . . . „ . . - ' . - '-'fi^fi/
2,215lamps". — . . . . . . . > . . . ..^:.,.^.:.;..^. -^r ^-:--•
r -- - - -"- -i-i '.-'.r.
Salaries of 202 keepers of Ught-hpu^es--«..!: ..'i;2-/...„-...-.-.
Salaries of 27 keepers of floating.hghts......
Weighing, mooring, cleaning, repairing,, and. supplying .the Joss of beacons,
buoys, chains, and sinkers . - , ; : . , , . . - . , . . ^.,..... -.
,
..-.....'!.;
Incidental expenses, repairs; and impfpyeniehts^^^
arid.thp
buildings connected there^with........\... 1 . J: .* J.. 1
- -- - -..: r:-!- Incidental experises, seamen's, wages, repairs .and supphes to floatinglights.
Expense of a board of nayy offipers in, examining and reporting the gon-.
dition of aU the light-houses arinually, iij ad-ditipn to.examing.tions already

provided fbr . .
. ^ .„....,: .^ ^ .-^p..'. fi....: ^ . . ' .
^ . . . . . . . i.'.,.; . ^


$50 00
300 00
400 00

88,600 00
80,113 00
14,150 00
35,000 OO
70,000 00
65,000 00
4,000 00

SURVEYING; THE PUBLIC LANDS..
•

For cprnpletingthe Surveys south of the' 31st degree of latitude, iri' Alaba-<1 ma, iri-^ addition;tO'the'appropriation made by the" act 'of the 3d'' March^^.
t^
183.7', to be pxperided'at' the" same fate 'per mile . : . . J : . : r : : : . : . . : ; i l l .
1^ For the suryeys of the' tPWn;" lots,; coriimori ;fieids, ^&e'., in" the towns"of St:
'l
Eouis, St. Gharles, &c., in Missouri, named.in:the act of Congress ap»L proved 26ttoMay^^lS2i^.'---.--^.-';^^.-=-^^':"-:..
. - . . . : . - .'-•
For siirvey^pf the^'coast of the'.Uriited: S t ^ ^
. . . - . . ^f.. - - - > . . v . ; . ^ . . . . . . .
F o r t h e salaries^of• twp kee^
For finishing the public warehouse at Baltimore...
-For registers fbr ships- arid vesselsv^rid'; lists
rf
-....
......
For the discharge of such miscellane_ous claims against, the United States,
not otherwise provided fpr^asl-.shatirbe'adriiitte^^ in. due course of settlement at the Treasury
..
.....
.
.
'

;;:
v.:i;

:

;

•

•

•

"

•

:

:

'

-

;

2;5O0 do • . fi 6,000 00
8,500
\90,QO0
; ' 1,000
: 25,000
4,00P

-

~*"

• • " • • • . . " • •

242,540
60,000
1,000
50,000

00
00
00
00

12,000 00

$498,413 00
- .;•

The Seeretaijy of Sliat^.estiriiate
Fpr-salaries- pf Mriistefs- of the^;United' States to Great'Britairi,; France^
Spairi), Raissia,-and' Prussia.-:_ :-..^-:^ V.-L . . . . .:^. .-.J'.".".'J':.".V.'./." .".V."/." \ 45^doo<do
For salaries o f t h e Secretaries of Legation to the same p l a c e s . . . . . . . . . . i ;io;ooo-:00:
F o r salaries; of^;Ghai^e^s-d'Affiii^
Portugal, Denmark,'Swedeii, Holland, Turkey,. Belgium, Brazil, Chili, P e m , Central America, New j
.Granada, V e n e z u e l a . . . . . . . . . . . . . . . ^.•.... ^...--;..--.- - . . . . . . - . . - . - . . . . . . I 54,000 0 0
For salary o f t h e dragoman and for the contingent expenses of the legation to Turkey
/ . , , . . . . . . . . ....^..;/...,:'.-.. j . . . . J '
6,500; 00




12,000:00

•••

Totai rriis:ce]lMeous^>'^...... : . - : j . . . . . . . . ^^
^

^^;INTEEC©Tg^RSE:^WI•TO^^

00
00.
00
00
00

•

.

.

•

-

54-QdO oQ;.
14,000 00

63;ooo dd;
6,500 00

E S T I M A T E B—Continued.

o
Appropriations
made for 1837.

For the contingent expenses of all the missions a b r o a d — - . . . . . . . . . . . . .

$30,000 00

$30,000 00
$145,500 00

For the salaries of the consuls at London and P a r i s . . ' . — . . ' . > . . .
...
For expenses of intercourse with the Barbai-y P o w e r s . . . .
:For the relief and protection of American seamen
For clerk hire,, office rent, stationery,, fuel, and other niiscellaneous expenses of the Ameiican consul at Loridon,' per act of 19th Januai*y, 1836.
For the contingent expenses of foreign intercourse.
.-..-_.......
For interpreters, guards, and other expenses incident to the consulates in
the Turkish doininions, per act of 4th July, 1836.
_.
Total foreign intercourse-...'.
m L I T A R Y ESTABLISHMENT.

4,000 00
17,400 OQ
30,000 00

4,000 00,
17,400 00
30,000 00

3,500 OO
30,000 00

2,800 00
30,000 00

----:
_

.

5,500 00

5,500 00
90,400 00
$235,900 00

"

Estiniate of'the Secretai*y of W a r of the sums required to be. appropriated for the sei*vice of the Department of W a r for the yeai* 1838:
I. FOR THE ARMY P R O P E R . - ^ l S t . PAY DEPARTMENT.

Pay of the Army
Subsistence of o f f i c e r s . . . . .
.....
Forage of officers' hprses.
...,
Clothing of officers' servants.
'^ y^ments in lieu of clothirig



. . . . . . . . . . . . . ^ . . ^. 1,091,193 25
.......:..
,...-.
..
347,749 00
70,987 .00
......:...,.... .^..,.....
.
,..,.
. -. i.
26,550 00
^
,J
,,
......
30,000 00

1,090,113
332,638
70,987
26,550
30,000
1,566,479 25

00
00
00.
00
00

2 d . ADJUTANT G E N E R A L ' S DEPARTMENT.-—RECRUITING SERVICE.

Twp months' extra pay to reenlisted soldiers . . . . . . . . . . . . . . - . ^ . . . • . . ; . . ^ . .
Contingent experises of the recruiting service
.

3,600 00
20,664 00
24,264 00

3 d . PURCHASING DEPARTMENT.

.34,362. 00

.

Clothing of the Aririy,'.camp andgarrison equipage, cooking;utensils, hos;pital furniture,'&c
..:......
.-..:..'..
.-.:./..:
For taxes on the Passyurik arsenal, the clothing depot near Philadelphia,
fbr 1837 and 1 8 3 8 . 1 . : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
..

206,940 00

413,299 13
1,450 50
414,749 63

-

4 t h . SUBSISTENCE IDEPARTMENT.

Subsistence of the regular Army, exclusive of that of officers
Subsistence of volunteers and militia in the service of the United States.

730,912 50
309,885 00
1,040,797 50

5th. QUARTERMASTER'S DEPARTMENT. .

Regular supphes
. . . . . . . . . : . .*.*.....::....:..:....
B.arracks, quarters, storehouses, &c. -.
-.....-...
Transportation of officers' b a g g a g e . . .
,....:.
.........
.
Transportation of tropps and s u p p l i e s . . . . . ' . . : : : . . . . . - i . : . . . . . . . : : . : :
Incidental expenses.
...:....•....:::
;^

203,000
95,000
50,000
195,000
92,000

208,000
95,000
50,000
177,000
152,000

00

Oo
00
00
00

00
00
00
00
00

635,000 00

. 6th..MEDICAL D E P A R T M E N T .

Medicaland Hospital Department..
II. MILITARY ACADEMY.

39,200 00

38,500 00

97,060 00

95,578 00

I s t . PAY DEPARTMENT.

P a y and subsistence of the cadets, and of the officers andmusicians ofthe
Academy, forage for officers' horses, and clothing their servants
....



913,445 00

.'

E S T I M A T E B^Continiied.

.-

'

00

Appropriations
made for 1837. .

• • ''";2d;. feisfdiliiEER'DEf^ARTME^^^^ " '
^

iiefrayirig tike eicperiste^^f thfe-bb&^ of visitors, and the.other yarious current and ordinai*y expenses: of• the Academy j other than pay arid sub• i24-f550-54-.
•
P a y of the clerks ofthe adjutant-an-d disbursing officer : . : : . . : . . . . : . . : : .
: 950 QO
Increase and -expense Pf the h b r a r y . . : . : . . . : : : : . . : : . : : • . . : . : : : : : : : : : .
:
8Q0 QO
:GpmpensatiQnto the acting professpr of chemisti*y,- mineralogy, and geology;
300 00
-Completing the building for jecitation and mihtai'y e x e r c i s e : : : - : . : : : : : : : 1 lg,254 60
Erectipn of. a barn and public" s t a b l e s : ; . i : . . ' . : : . ' : : : . . : : . . . : . . . . . ; . : '
1,000 00
Jiliscellarieous items and incidental expenses.
1,577 50
....... ... .•. . ...... .-

III., PERMANENT OBJECTS.—ENGINEER DEPARTMENT.
IStv FORTIFICATIONS.

- ' '',

-

":'

100,000 00
Fort Warren
. . .^!w.!v...:--^ ^ ^ - i.-- i . . . , . . . . j^^i,.
.-,..;
......
Preservation of Castle Island, and repairs of Fort Independence. - . . . . . ; .
-50,000 00
Fort; Adams ^^ ;:..-*w:i i-: i . ^ : : ; . . : . - * : : . ; . : : : : : : . i z . ' . - : . : : . . . . . : . : j i : i . .
100,000 00
/Fort Schuyleri ..-.j^^;;:.•;;•.•. :.j;^:.".-> j ^ij,i .r^^.^.:.^.i z. ..r-;; .v.:.^. . , ; ^ : . ; ; .
: • 100,000 00
Fort Delaware.:.:.. - - i ^ 1 1 . ^: i : ; . . : . :•:..'.:•'.: : : . : . . : : • . . : : . . : : . . . : i .
^
.40,000 00
•Fort McHenry, Kedbubt Wood,- and Covingtori B a t t e r y . i . . . . . . i - . . . . . - . A
l
32,415 00
port Monroe.
'. - . - " . . . , . . . . . . . - 1 - . . . - - ' - . , . . - . . • . . . ' . . . . . - . - - . ^ . . .
100,000 00
Fort Calhoun
".-:•..
^
.....
30,000 00
Foi*tifications in. Charleston harbor, andfor the:preserYatipn_pf the site ^of
Fort Moultrie:'-... / f i . . . . . . :,.--.•.. .'.'.^..... 1.. 1 y...^.^^^^fi^..^^/^\l 175,Qd0 do
P o r t P u l a s k i - . . . . . . . . . . : : . . . ..^ / ; - ' . - . . - ' - . ' j . . . . . . . . . \ . . .
.... .^..---....
lOd,dQ0 OQ
Fort QriToster's Barifci Florida.^i. v^ i^i...j^j.:.^.^ii^^
. .•. jw;. . ^ j . . . . . . .
33,000 00



,
...'
.
. .;$47,432. 04

$27,868
. 950
600
300
30,000

09
00
00
00
00.

1,777 50

^
•

•hj
O

2
H

GO

•' 6
•

-

^

3
m

:ir^
CO

Ilepairs pfFort Marion and^of.the sea-wall at St* A u g u s t i n e . - . . • . . . . . . .•. .Purchas.e of the. charter right tQ the, bridge apross Mill c r e e k . . . . . . . . . - . - . - .
Cpntingenpies of fprtificatipns... ^ ^ . - - . - - . - . . - - . - . . . . . . - . . . . . . . . . - - - - - . . :
2 d . ROADS.;

Road ftpri^- i)etroit t o E^prt Qratiot.. i:... ......^..r^;i......^-.^.^.r.^...^.^^
Koad from .Detroittp :Grand riyer..;-..,.-. ^ . . . . . . 1 . . . . . . . . r . . . . . .^...-^ .Road, frpni. Detrpit to S a g a n a w - b a y . - . . . . . . - . . . -..- .•..-. ...-..-..-.-.-..- -:-...-.
Rpa.d frpm L a Plais^riGe. bay to the C h i c a g p - r p a d - . . . . . . . . . . - -. --. - - . . .
Cp.nstructipri .pf a bridge on the rpad from petrpii tpwards ^Chicago.. - - . .
Road frpni Line Crpek, Alabarii.a, to the Chattahoochee, opposite Columbus,
Rpa.d frorn oppositeiNIemphis, pn the Mississippi, to Strong's house, on the
- Stv-Fraricis river.-1- - . - - . - . . - - " . - . - . . . . . . . - - . - . - . . - . . . . . ^ . . . . . . . . . .
Cpnipietion of Durilap's-creek bridge on the Cumberland-road east of the
^ -Ohio river. - - - - r------ . . . . . . J . . - - • - - - - - - . . . . . . ^ - : : . . . . . ^ . - . . . . . . . ,
Cumberiar\d .3^oad;in,Ohip^,.. ^ . . . . . . . . . y . . . . . . . . . . . . . ^ . . . . . . .^ . ^ , . . . . .
Cumbeiiandroad^m
.^ . . . . . . . . . . ^
....
.............
C^mbHerland road in Illinoi^.. - . . . ; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

r2.9,5.Q0 QO
' 4,000 do
iQrQOQ O
Q

-•
903,915 00

; . ,,.n:- = .
424 69
25,000 00

i^fim do
^3,150 do
4,-QQO QO
1,544: 50

'

•

136,888, 7.5
7,000
150,000
15d,0OQ
15Q,Q0O

QQ
do
00
Q
Q

•
•

•7,183.00
19O,0Qd OQ
\ 100,000 00
r 10O,Q.OQ 00

664,007 34
' 3 d . HARBORS-AND-RIVERS.

For improyemerit of the h.arbor of G h i c a g p . . . . . . . . . . . . . . . . . . . . . . . . . .
Fo.r-w.Orks. at the/harbor near the niouth of the river - R a i s i n . . . . . . . . . . . .
For improvemerit .at the rnonth of Huron r i v e r i . . . - . . . . . . . . . . . . . . . . . . . - .
For improverrient of Cleveland h a r b o r . . .
Reriioval of obstructions in Cunningham creek
Removals of obstructions in Ashtabula creek
.
..
Removals of obstructions in Conneaut creek
,..........



30,000
i5:,000
5,000;
51,856
5,000
8,000
4,000

00
QO
00
00
00
00 00

1
;

4Q,000
3O,QO0
2,565
10,000
5,000
8,000
5,000

QO
do
OQ
Q
O
do
00
00

E S T I M A T E B—Continued.
,o
Appropriations
made for 1837.

Removal, of obstructions in Black r i v e r . . . . . . . . . . . . . . . . . . . . . . — . . . Removal of obstructions in Grand river.
.". — . . . . . . .
Improvement of the harbor of Presque I s l e . . . . . . . . . . . . — . . . . . . . . . - . Improvement of Dunldrk h a r b o r . . . . . .
-—
•.-.•
Works at Buffalo
-.-....----...-.....Improvement ofthe harbor at the mouth of Oak Orchard creek
,W.orks;at the mouth of the Genesee r i v e r - . . . . . . . . . . . . . . . . . . . . . ' . . . . . -.
Irnprovement of Big Sodus bay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ^ . . . .
Pier and mole at O s w e g o . . . . - . . . . .'
.' - - . . . . - - - . . - . .
Breakwater on Stamford ledge, Portland harbor . . . . . . . .
... ^......
Pier at Kennebeck. .
- -1
<i.
Preserva;tion of Plymouth beach.. - . . . . . - - . . - . . . . . . - - - :.
Preservation of Provincetown harbor
Breakwater a t Hyannis harbor. . . . . . . . . . . . . i . . . . . . . . . . . . . . L . . . . . . . . .
iPreseryation of Rainsford.Island...
..------ Deepening the channel ofthe river. Thames, leading into Norwich harbor.
Sea-wall for the preservation of ^Faii-weather Island, near Black Rock
. harbor, Connecticut,- - .
•-...-.....-....-..•.-...-...--.-..-Improvement of Hudson river, above and below Albany .". -. . . . . . . . . . . . .
Improvement of the harbor of West P o i n t . . . - . . - . . . . . . . - . . - . . -. -.. .> . . . .
Iniprovement of the harbor, mouth of Bass river
— ..........
Breakwater of Church's Cove, town pf Little Corripton, Rhode Island
Protection and improvement of Little Egg harbor
i
Protection and improvement.of the harbor of Wil'mirigton, D e l a w a r e . . . .
Protection an.d improvement of the harbor pf New Castle, Delaware . . - . .
Delaware breakwater
.."......-.
.-^..,.-...



$5,000
10,000
30,000
10,000
20,500
5,000
25,000
10,000
46,067
26,366'
8,000
2,400
4,500
8,764
7,353
10,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

11,550 00
100,000 00
4,782 00
10,000 00
18,000 00
. 10,000 00
9,356 00
11,573-00
150,000 00

$6,410 00
15,000 00
15,000 00
5,000
10,000
12,000
15,000
25,000
3,000

00
00
00
00
00
00

5,000 00
20,000 00
5,000 00
100,000 00
3,734 00

8,000 00
10,000 00
141,000 00

Deepening the harbor' of Baltimore . . . . ! . . , . . . .
1 -20,000 OO
Improving the.naturalchEinnels at the northern, arid sputhern. entrances of
the Dismalr Swamp c a n a l . . — .'..,
^.10,000 00
Improvement of the navigation of Cape Fear river, below' Wilmington,
. North; G a r o l i n a . . . . . . . . . . . . -.; -^.. - . _ . - . . . . .
i
...
:so,ooo 00
Improvement of New -river. North. Carohna . _ - - . . . j-^.
^ ''.
. 12,000 00.
. 15,000 00
Improvement of the navigation of Savannah river, G e o r g i a . . .
29,000 00^
Improvement of the inland channel between-St. Mary's and St. John's.^..
70,000 00
Removal of obstructions in Red river
...,
.
Improvement of the Cumberland river in Kentucky and in Tennessee,
'"20,000 00
below Nashville
^
50,000 00
Impro venient of the Ohio river, between Pittsburg and.the Falls..
Improvement of the Ohio and Mississippi rivers, from Jonesville to New
Orleans . . . . . . . . .
.
--.---..--,.
- ^.- - - . . . - .
. . . ^.." - 70,000 00
linprovement of the Missouii river, and of the river above the mouth of
20,000 00
the O h i o . . . . . .
. , . . . J>
.----r
- —
40,000 00
Improvement of the Arkansas river.. 1.
...
-.
..--..16,000. 00
Completing the-removal of the hght-^house- on -Goat island.

15,000 00

10,000 00
20,000 oo;
5,000 00
65,000 00
55,000 00
60,000 00
60,000-00
40,000 00
25,000 00

1,065,067 00
- - < 2d.

T O P O G R A P H I C A L B U R E A t J . .••'•

• - .

50,000 00
Breakwater at the harbor of Burlington^ Vermont.
....:
Breakwater at Plattsburg". - —
27,500 00
Improvement of the harbor of Whitehall, New York
..'........
15,000 00
Improvement of the harbor of Black
river.
'.
22,401 00
Improvement of the harbor of Salmon river. ...„:...
. 30,00000
linprovenlent of the harbor of Cattaraugus creek.
.'.
32,410 00
Improvement of the harbor of Portland, New Ybrk-.
•.. vi
. 35,466'00
Improvement of the harbor of Vermihon r i v e r . . . . . . . . . . . . . . ; . . . . . . , . .
23,626. 57,
Constructing a pier pr breakwater at the mouth of the St. Joseph's river.. 1 51,113 oo|




10,000 OO.

io;ooo 00
10,000
10,000
10,000
10,000
10,000
20,000
15,000

00
OQ
OQ
00 j
00 I
00
00 ^

ESTIMATE B—Cpntinued.

C7»

'to
App;rq.priatiQn.s.
madelorl837.

.C|<onstmGting.a!ipi^
Indiana
'^:^uiiding;t&;|B.r^
<-;-;--- - - -" - ^-^ — -^— - - - — - - ^
. Completing-the.r^
sputhern debpuche.Pf the Dismal-Swamp
^ VjCanaltp.|Wm^
^
.'.ji. . . - • . . . .'^ .^ : . . ' . . . - . .
..
;Ipefraying ex^^
.smveys,^ under the act .of
;• -:r30th of- April, 182^^^^^ and.for geological arid mirieralogical surveys -and
~ .; examiriations. - . . . - . . ' . . . . . . . . > . v . . . . . . . . . . , , . • . . . ^ . . . . . - . : . . .
Surveys o f a military character for the defence ofthe Atiantic arid westem
fi

< JLJL*wJLJ.L'X^X*j»^ •

-•;,

«

•

*- • ;a

•. *.s

,4» •

** *

*

^/m

« • • ' « , • , «

w'•

«'•.••.

*

*

w

s

« ..w W «

*

«*«•.»

•

•

«

•

a

«

•

. - :3d.^ QUA-R-TJERMASTER-GENERAL'S -DEPARTMENT. .

•

V

•

« *

»

m

m.

60,;733 59

3O,0Q0;0O

•|7,7i:§'|^

15jOQQ do

•lp,ppQ jpp

30,000 00

30,000 00

• 15,QQ0 QQ"
$495,969 11

15,0PO 00

.

;Fpr,the;cpnipletion pfthe riailitary road from Fort>HowardtaFort Crawford
; Foj;i thevQompletipn
"erectipn.of .peimarient barrack^. and quarters -.at
;;;XJFort Xeaveriwbrth-.. ..v... -V.:... .•.;., ,;^.;; . . V : - I . >i'. - - ^ • - . . " . . . . . . . . .

io,pQQ qo
8Q,ppp po
90,000 00

• • .'-;•:;•'

;.• V- -.'

4!th...ORDNANCE..DEPART^

—;";~;—;

E;pi^^imtipriahjarm^
. . . r-rr-- -^-'- r.-, ;.- ---.,Armament^^
...-. ^....:.-.^-.-;-.^.,.;-....;..
.
.jGui^erit; expp^^
.service . f i . . . . . . . . ; ' . •.:....
•;Arsejnals;vv .::'.^.;^^^
^;-.-......^.^ . . . . . . . : . ...^
ifnrghase p^^
pf-the .Militairy Academy
.P^rachaise.^aiid.m
field^axtiilery....
'..jfi^.
;.•..•
i^ririfeqture ;;pffe
,,............. -^..;
• PJiirpha^^. ,pf;.grajpe;shot:4.:- ^>.^;-:,-;--,-.,.:-•;- .• i: -:-i .w.--^.. - •.: -.^.,.. ...•.-....'.



3fiQ,Qp0.pp
.sdo^doQ ^ p
d8,ddd Q
O
;2^5p0'0d
39,Q53 po
5^000 00

;^,50P PP

360,dpCJ Q
Q
2od,ddQ dd
123,975 po
3 ^ ^ 4 ? ^ Op
8,250 00

.3p,pqp. (>p

Piirchase. of ,gi;npowder.. _.
. , .

,..^..,,.

1,001,226 00

,.„•

4th,- PENSIONS.
For the payrnent of revolutiorialy pensions, iinder the several 'acts Pther
•'v,than:thSt-of":Jiin;e;:7j i'832;;• Q-'fi-:..:•. .7vV^-;.:..^ j..'..-.i^. -:i ^^..,.^.-.fi-L. 426,772 00
' For-the p^riierit;bf invahd p e n s i o n e r s . . . . : . . .
. . . . . : . . . . •134,075 62
Foi' the payriient of pensions to widows and o r p h a n s . . . . .
. . . . . . . i,492,'6&5,001,5;0O,0O
F:or; half-pay; perisioris, payable thro
bSiee of the Third Auditor..".

702,560.00
325,376 00
552,000 00
: 4,000; 00
2,055,032 62

;.

; :;";;'

v

;5th. ARREARAGESr" [ ' ^ " ' '' ' ' " -" "

For arrefi.rages pp^yablethrough the .office of the Sec.ond-Auditor.^....^--..
- Z:^ /.'; .;..^'^... ^
-- - -, ,. - Third-Auditor..-, ^7..;..
•;. •.':.:, .•.•;.;:" '•• ;• •• _
.
' :... /
......... s' ....; . . - " ' . : .'. '''.-fi'' [''""\
';•
6th.;iNpiAN.i;)EPAiia^MENT.; . . . - . . - . . • fi'-

' 1,200 00'
3,000 00

JjQQp 00
4,200 00
2,^B8^87.5! OQ

For the.fialfilnipnt.of the -treaties with, the various Indian.tribes. ---:!-.- fir - 1,356,560 00
Fpr:the;purrerit expenses :pf -the Iridian Department, including trarispiprtja103,900 do
•; .tipn .and;mciderita;l e x p e n s e . s ' . . . . . . . . . . . . . . . . . . . . . . .^ . ^ . . .V^:-----> For.riiiscpllanepus objects-i^v
^.-. ...^.^-...->v...-.:.--. ....^.. •:5%75,2 0,0

65,800 00
40,^6.00 00
:l,52p,212 00

'Total m i l i t a w . . . . . . . . . . . . . . . . . . . .
' / .: •.;',, .;
.

jli,664,612 09 1
;

"

•

•

•;

..-•..J^AVAL,-.E.S.TABLISHMENT..... - -^..... .. ...-- -^ - . -

'There w i l l b e required for the general service of the" NaVyVdriring the yeai*
1838, in addition to the balances which may remain on hand on the 1st
of Januai*y," 1838, viz:
. . <
For the. pay of comriiissioned, warrant,-and petty .officer^, ;and^of.se^^
j 2,311,854.91




2,454,686 0 0

E S T I M A T E B—Continued.
Appropriation '
made for 1837.

For the pay of superintendents, naval constructors, and all the civil establishment .at the several yards.
. . .^
$69,770 00
For provisions
^
11
•..-.;
.
600,000 00
For the repairs of vessels in ordinai*y, and the repairs and wear and. tear
of vessels in.commission
1,250,000 00
For medicines and surgical instruments, hospital stores, and other expenses
75,OQ0 00
on account of the sick
._._....•...• -.
. , . . . . . . . - . . . . . . . _ . . . -...... -.
For the improvement and necessary-repairs of navy-yards, viz:Portsmouth, New Hampshire
_. - - - -... .$20,000^. 00
^Charlestown, Massachusetts
- - - - 74,000. 00
Brooklyn, New- York. - . . . . . - . : , : . . . 61,000 00.
. Philadelphia, Pennsylvania
.21,500 00
Washington, District of Columbia. - - --- ^.- - - 30,000 00
Gosport, Virginia.
.
..
. , 77,500 00
Pensacola, Florida.
76,500. 00
J^0,500 J O
O^
For ordnance and ordnance s t o r e s . . . . . .
......
.
.
--- 65,000 00
Foi* contingent expenses. .
450,000 O
Q
For contingent expenses not e n u m e r a t e d . . - - - - . . . . . . . . . . . . . . : . . . . . ' . ' .
3,000 00
For special objects, viz:
.......
For new hospital building, arid assistarit surgeon's house at Peri sacola, &c.
For erecting sea-wall j enclosing hospital grounds, .&c:, at Norfolk..... . • . . .
For graduating and enclosing grounds, &c., .at naval asylum, Philadelphia
For extending hospital building,-. New York
..'...............'
Fpr. completing, hospital building, &c., Boston.
.-.
...



$69,470 00
762,865 OO
1,250,000 00
39,000 00
47,700 00
124,000 00
' 62,50^0 00
34,850 00
52,850 00
140,500 00.
78,000 0 0
T2,000 0 0
337,600 00
3,000 00
,185,124 91

31,500
. .9,000
2,600
60,000
3,500

00
00
00
00
do

47,500
18,000
10,460
66,000
1,350

00
00
00
00
OO

For sea-wall and repairs of the enclosure [of the rriagazine upon Elhs's
Isiand^New York.
For the purchase of vessels to be used for re.ceiving yessels at Philadelphia
and B a l t i m o r e . . . .•.
—.
.......,'.
For the repairs of the magazine, filhng house, wharf, and railway, at Norfolk
For building waU round magazine at Pensacola
'..

3,800 00

1,250. 00

25,000 00
750 00
3;0Od 00
139,150 00

_.

,

MARINECORPS.

F o r t h e pay of officers, non-commissioned officers, musicians, and privates,
^ and subsistence of officer's . . .
.:
.........
For provisions for non-commissioned bfficers, musicians, and privates, serv- ing on shore, servants, and washerwomen
.
•......;....
...
For xiothing . . j . . . . .
.......... j.
.
.........^......
For fuel
J.. . . J . . . . . .
1...: .1. i.:...:..'..
For the purchase of a site, and to commence the erection of barracks, at
' Brooklyn, Long Island-, New Y o r k . . . . .
- . . . . - . _ . : . . * . . . . . . ' . ^. ^..
For keeping barracks at the different stations in repair, and for the rent of
temporary barracks at New York.
: . . - . . . ^ . : . . . I,..; -...
For the transportation of officers, non-commissioned officers^ musicians, and
' privates, and expeiises of r e c r u i t i n g . . . . . . . ; . . . . . , . - . . . . . - : . . . . . For medicines, lipspital supplies, surgical instruments, and pay of a matron
. and an hospital s t e w a r d . .
..:....'..
.
.
...
:.. .
For contingent expenses
. . i . . .".•. ^ . . . . . . . . . .
. . . . . . . . . . . : 1..
For military stores . . . . . . . . . . ....:.
..
:'.




'

-

_.. -

•

Tbtal n a v a l — . . .
Aggregate.
.

16,219 60

163,019 60

49,840 14
43,695 50
15,804 75

33,428 80
38,655 00
14,589 00

50,000 00
10,000 00

10,000 00

6,0Op 00

6,000 00

4,139 29
17,977 93
2,000 00

• 4,139 29
17,977 93
2,000 00

^361,477^21
$5,685,752,12!
i20,516;299 00

tm

^

RM^ORTS OF T H ^

/

RpCAPITUliAHOU^.
.;/:;•.;

•;;;^ G i v i L - ' L i s T K

.•'•;

legislature;.. - i : . . . . . . . . . , • . . . . . . . : - . ..^.^ $917,290 00
|^resident~and;Vice;: President of the'United . ."
'; States,,.^.-4... .^:- .^y. . v . J./.-.:..,.....-..: ^SO^OOO- 00;;;;
4ecret4i:j;to:sign^^:p^^
1,500 00iJegai^ir^ntiP^
. -^-.... - - - - r -•-.- - - - - 51;300 OOn
(|erier^.|jm|iose^^
.' ,
. fi
fiWt^Wm
• .4,850 QOt.;
'IlreMsutjf.I^epa^tiiierit.'^^
357,550 OO
Cferierii purposes €^^
' '
;;: buildingkL:.cj;;i^. ,fiL.;.,fi,. ,c^'..'.:.I,..v.,.,^: ; li:,100 00 i"
fiWwc Depaijtinerit...,j..--^.^....^
-ci.,>... ..v-.c..^.:^;-131',237 501
GenemlpuijiosesOfthe^^
<
\ building ^ v-j^'. J.*;:'L,- .>.\^...2.:- . 1 : . . -fi^^^^fi ' ';7,550 -OO I ~
l^st,0fBpeKPepartment.i . . . . . . - - - — .^- -.: 164,086 981
Sufv^ey^rs-ted^theh^clerii
^^ . ^ z . . . . . ^ 41^620-OO'
Copiniissiorief of the^^I^riblid Biiildings and
' ;

;^;his':assistaritav'-;..:-;.;...:i.-:..;;;;..,^^

^' ;4,262 50 "
^

MintoJtthe USiited States^ri-rid it^
132,000 00
Goyernmentsiri^the feratPries ofthe United ^ ^
^

• ;-States....;.^.;...;.,^.-:,..fi:,..:.,.;..—•;•..;..:.;, 6i,i25 oo,
J u d i c i a r y . . -:-.:.....,.,.:..^ fi .;..;. .^..:..,.... ,163,950 00
•pfeyy ]Qepartrii<ent. r-.;. .J...;..,..;..:..;..;. ^;.;; 44^600 00
General purpbses bf the southwest e%e]cuK^
'
. building..;..;. .C. 1.;. .^:v;. fi.:. -"^.:..;..'. : '4,600^00
^•
. . : •; •:- ;;:.;:' •;;:.; ' f i r / ' : •; ;. f • f i . - f i
.-V i ,431,621: 98
/.' :

;

;. :

;•; ; M I S C ^ L L 4 N E O ¥ S . ; . ; ; ;

••' .

Ann^itiesandgrarits^^>--...;. .:w-;--;-^-'.-;..,.
1,050 00
Light-house estabhshriaent.;^.,. .^.^;-..;........ 356,863 00
Surveying th.e public land^--;- -•. -.-.,- -,--.:.8,600 00
Survey of the coast; of the.ilnited^
90,000 00
Salaries of the ;twb keepers of the: public
archives in; Florida..,. V. -.,::..:: .j^^;. -;...;.;• " 1^000 QO
Fpr finishing the public;wareh0risp SLtlBal^

^ '•; m o r e . . . . _..,J..r.L :•..;.>.;;....;:.... .^. ,u ^.- -.-;; 25,0oQ oo;
^
Registers for: ships^and:vjes^jeis- and; hsts o f ; n
crews.._.....:..;.^...',:..L^.V:-,.4->'-^^
-4;,00Q 00 •
Miscellarieous claims.:riot otherwise^ pro vided -

.for..... ...1fi:.:..fi'^-:,X'fi--X.w-.-;.-.--^^
:,i]>krERGouiRiSE;w^

i^,ooo^"oo-.

^FO^EIGN N ^ ^ I O N S .

Salaries, of Miiristers.. .r..i::,^:^^
OQ
S a l a r i e s o f SecretaLries..^.;.;,;.•- -:.;i;..:.>,-1;. ' 1 0 , 0 0 0 ' 0 0
Salari^es of Charges d'Af&res^:]^;;. .^ .^^^..-^ 54,0Ot); 00



498i4i3;:()0

1837.0

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

157

Salary of dragoriiian,-^e;,-to T u r k e y . . ; . ; . . . '$6^500 00;
Contingent expenses of all t h e riiissions ^
• - :;
abroad
. . . .•-..-.;
'.-.•. ^•v'.^.^».>".-,<^.3O;Q0p.O6 ' ^n
Salaries of the consuls at London and ^Part's
;4,000 00 ;
:
Iritercourse with-Barbary Powers >.=.•.•.•.>•..- >-17)400 QO
Rehef and protection of Ameriean Isearifien- ': 30^000 ^00 ^ .; > v
Clerk hire, &c.,k0Ariierican eonsuls at Lon-- . - • . . .
..^dpn:w,n.
:...'.;.....:
3,500 00
/
^Contingent^expenses of foreign intercourse. 30,000 00
^uardsfjinterpreters, &c., to the consulates
iri the Tri~rkish dominions..'.
5,500 00
'
—$235,900 00
: •

-

3,165,934 98

MILITARY ESTABLISHMENT.

Pay d e p a r t m e n t : . . . : V : . : ^ .•^.-. .v,,.;.^^,w; vl/566,47& ^2f5 •'
R e c r u i t i n g s e r v i c e . . . . - . . . . . . . . . . . . - . ' : •" 24,264'00
: •'
Purchasing depSLrtrtienti:
. % . . . .-.-.-.-..»> - 414,749 63 • - Subsistence department--.--i . ' - . . - J - v . . . . Av^40,797 50
Quaitermaster's d e p a i t m e n t ; . . : : . :^: ^:;.: - 63^,000 00 ' . •
Medical department. .^.-^ . . . : . > . . . ^ . ^ . . . . -39^200-0O\ ; ' ;
Mihtary Acaderiiy,'pa5^dep.drtirient.v.;.•.;
-97,-p6.0 00
- '
Do.
engineer departriient.. ^ ^47;432'64 ^
Fortificatioris . : : : : . - : J . V - . J : . V . - . . . - : ^ ^ -903^9^ m '
Roads
. . . ^ . ^ . . . . . . "664^007 34. ^ ; : . •
Harbors and rivPts. . . : . - . . . : i.:.;: : ,^ :_:^cly0653067- 00^
"Exarninations and surveys, &c^ Topograph.
i e d . bureau . 1 . . 1 : . . ^.... J - .i: .• .> ;:v ^V. 4^^
Military :i;oad, &c.V^Quarterriiaster's depart^
ment
..........
90,00 00
Ordriance department..
.
1,001,226 00
Pensions . . .
.1,055,032 62
Arrearages . . . . . .
................
4,200 00
Indian department . . . . . . . . :
1,520,212 00
.
. —
\
11,664,612 00
NAVAL ESTABLISHMENT.

General service of the NaVy
Special objects....
,
Marinecorps..........

.5,185,124 91
139,150 00 •
361,477 21 ,
.:
:
. 5,685,752 12
20,516,299 19

RECAPITULATION OF SUBMISSIONS.

Assistant messenger, office First Auditor..
Two clerks in the office of the' Third Auditor.
........._._
«_.«



350 00
2,400 00

158

R E P O R T S OF T H E

[1837.

Two clerks inthe office of the JFifth Auditor.
$2,000 00 ^ .
Additional to the assistant messen.ger in the
. , .
office of the Register
............,.....„ . .. . 200 00
One additional clerk in the office of the Sec-.
, retary of the N a v y . . . . . . ' . . . . . . . . - . . . . . . . ^ 1,000 00
One additional clerk in the officeof the Navy.
Commissioners . . . . .
1,000 00 ..

.

:

5,950 00
$20,523,249 19

STATEMENT OF APPROPRIATIONS MADE F O R T H E SERVICE OF THE YEAR
1 8 3 8 , BY FORMER ACTS OF CONGRESS.

Arming and equipping the mihtia, per act
of 23d Aprri, 1808
$200,000 00
.
Civilization of Indians, per act of 3d March,
1819
, . . . . . . . . . ; . : . . : . ; i0,o0Q 00
Revolutionary claims, (indefinite,) per act
of 15th May, 1 8 2 8 . . . . . . . . . . . . . . . 1. . 1 0 2 , 0 0 0 00
Revolutionary pensions, (indefinite,) per .act
" ,
of 7th June, 1 8 3 2 . . . . . . . . ; . . . . . . . . . . .1,350,000^00
Claims Pfthe State of Virginia, (indefinite,)
per act of 5th July, 1 8 ^ 3 2 . . . ' . . . . . . . .
$50,000 00
Gradual improveriient of the Navy, per acf
'
•.
of 2d March, 1833
. . . . . , . . . . - - 50Q,OQ0 QO
For public debt, payable at the Treasury,
. per act of 3d March, 1817 . . . . ...^.
50,000 00 ,
' f i '•-. "' ' "
2,262,00000




Statement accompanying the Annual Estimates ofi Appropriations, fiormed in pursuance of the eighth section ofi the act ofi the Q
O
• • • ' • . ' •
1st ofi May, 182Q.
S^

HEADS OF APPROPRIATIONS.

[Amounts required to
complete the service of the.present
arid former years,
though they may
iiot be called for
until after the close
of the year 1837;

Amounts which will
not be required for
the service of the
prese'nt' year, and
may. therefore be
applied in aid of
the service of the
year 1838.'

Amounts which may be carried to the surplus furid at
the close of the present
year, either because the objects for which it was appropriated are completed,
or because these moneys
will not be required for, or
will no longer be applicable
to them.-

CIVIL, MISCELLANEOUS, AND FOREIGN INTERCOURSE.

Pay of officers and clerks of both Houses of Congi*ess....-.-..
Purchase of books for the law library of C o n g r e s s ^ . . . . . . . . ; . . .
President and Vice President of the United States, the Secretaries of. State, &c.
Clerks and riiessengers in the office of the Secretary of S t a t e . .
Clerks, machinist, and inessenger, in the Patent Office
Paterit fund
.Contingent expenses of the Patent Office
Biennial Register
.-- - — . . : . . . ^
Officers, clerks, and messengers, in the several offices of the
Treasury Department
..
Translations, and for transmitting passports and sea letters.:
Coiitingent expenses in the several offices of the Treasui-y Department
- - . -.
'.
Superintendent and watchmen ofthe southeast executive building



$1,850 00
3,925 45

$3,267 35

10,500 00
$625 84
2,796 93
3,500 00

164,448 95
500 Qo

151 80
7,625 50

^ 75 00
32,142 71

1,600 00
96 43

STATEMENT—Continued;

H E A D S OF APPROPRIATIONS.

.as
o

Amoants required to" Amounts -which will Amounts which may be car^'
complete .the serr, not be required for] ried to the surplus .fund at
vice-of the present the service" of the?^ the close of ' the- present^
and former years,: ..present year, and| . year,, either because the ob^
'though- they may| may therefore . be; jects for which it was .ap-'
not. .be cMlfed for: applied in aid of propriated are conipleted/
until after the close' the- service of the' or because these. moneys^
of the year 183.7'. •year^l838;-v.. ; - ; , wiir not be required for, or
will no longer be'applicable:
to them.

'•'''"•

•'•'

: Clerks and messengers- in the several offices of the*^ War; Depart^
;'inerit;-.----...--.::.. A:•- -•--;--^'-Z ^ . • J . : ' ^ . i . i \ : ^ -^..'-...:.'.'.".V.;.'.'...'.;

Gontingent.expenses; in t h e ;Pension'Qffi9e
Comrilissioriers bf the Nayy' Boai*d.. ....
.......
.,.
Clerksi fed.-messeriger of the'- offiee of Conimissioners:-of the
Navy Board . . : - . . , . . . .
I...........
Contingent experises of the office of Secretary of the Navy. .•..
Do.
^
Navy Conimissioners.Three Assistant Postmasters G e n e r a l . . . . .
.-.............
Clerks and messengers of the office of Postiriaster G e n e r a l . . . .
Auditor for the Po'st- Offite' Depa^^^
........
..
Clerks and messengers in the office of said Auditor ,
Superintendency ofthe old building occupied by the Post Office
Departnient . . .
. . . . . - - - V - - - - - . . . . . . . . . . . . . . . . . . . ^..
Extra clerks i n the Post Office Department .----.- - - : - - Surveyors General and their clerks. . ' . . . . . . . . ' . . . . . . . . . . . ....'.'
Expenses necessary t o a correct location of private land, elairiig;
Secretary; to^.sign:pat:entSffbrprib
^ . _ ..v;::-:r;-:-:^-'^



.$812. 50.1,000 ;Q0^

l:,125 58
c

.•[

•'

' •

147 44
2;i47 4 1
1,10Q 00
i,443;-:53:
\ 25&. 00:
4vl68 0^

246 69
^ 421.20
;t,iaQ::40
: i ^ - 30;
• 74S*^39-

• i3o;;ii
9,000 Q
O
2,000 OO
.-V-3'^5--;0O'

. . 89 B^
21,169.34
: ^ 118: 20

Coriimissiorier of the Public Buildings in .Washington. - . = . . . . . . .
Governments- in. the Xorritories -pf the United States.": - . : . . . : : .
. Chief Justice, Associate and Distiict Judges :'ofthe' United States
<! Chief Justice aiid. Associate Judges of the District "of' Columbia
t^
arid.Judges.bf tfie'Orphans' C p u r t . . : . . ' . " . . : ' . : . ; . . ; : : : : . . : .
^ Contirigent expenses bf the office of the A.ttprney GeneraL . - . . . .
•| Compensation foi* district attorneys arid ' m a r s h a l s : . . : : : . . . . . . .
JL Expenses pf corirts of the- Uriited State's, &c. . ^ . . . . ; : : . . . . . . : :
^ Support, and mairitenUrice" Of fight-horises, & c ; . . : : : : . : . . . : . . :
Building •light-houses, beacpriS,. buoys-, & c . . . . . . . . . . . • . . . . . . . . . . .
Payment of sundry annuities granted by special acts of CongresS':
Buildings and riiaPhirieiy; for the Branch'Mint at New.Orleans::
Wastage of gold and contirigerit expenses" '
' • do: : : . ' . : ; .
Apparatus, topls:, and fixtures, .
.
' "dp. . . . . : : :
Wastage of gold arid c'oritingent."expenses of "Branch". Mint* at
"Cfiarlbtte. . . . . . . . . . - . . -..
fi..:..:.......:;...::..:::::....:
Buildirigs arid rria'chinery for Bra-nch 'Mint at D a h l o n e g a . . . . : .
Wastage of gold arid contingerit expenses a t " ; ' "
. do. : . . : : . :
Salaries, &c., of the Branch Mint at New Orleans. - - - -Do.
Charlotte...
^
...
Do.
Dahlonega
Laborers in Branch Mint at New Orleans
Do.
Charlotte............
Do.
b^hlpriega
Enclosing grounds, &c., at Branch Mint at Charlotte
Surveying the pubhc lands
.....'
Survey of the coast of the United States
Salaries of registers and receivers of land offices
,.
Keepers of the pubhc archives in Florida.
Repairs of the marine hospital at C h e l s e a . . . . . . . . . . . . . ^ . . ^ , .



575 00
35,090 28
21,225 OQ
2,375
500
3,312
209,170
50,000
468,374
475
67,000
17,400
2,500

00
00
50
30
00
45^
00
00
00
00

1,000
14,370
2,000
9,069

00
00
00
78

3,420 84
12,000 00
1,250 00
' '. 850 00
4,500:00
g6O,l03 52
30,240 72
1,250 00
250 00

24,235 59
2,653 71
132 61

148,200 00
665 19

35,000 00
12,033 34
15,000 00

3 33

STATEMENT—Continued.

HEADS OF APPROPRIATIONS.

Marine hospital in the city of New-Orleans
Sundry sites for marine hospitals on the Ohio and Mississippi : .
Marine hospital at Mobile . - :
.-.........:..'...:.....
Marine hospital estabhshment.
i... . . ^ . . . . . . . . . . . . . . . .
Fire-proof'building for the Treasuiy D e p a r t m e n t . . . . . . . . . . . . :
Do.
;
PatentOffice...
-.
Bust of the late Chief Justice Ellsworth
.....
.
Do.
". fi
Marshall . . . . - . . . . . . . . . . . : . . . . . "
Two groups bf statues to adorn the two blockings on the east
- front of the C a p i t o l . . - . . . . . . ; .
^...
Stock in the Chesapeake and Ohio Canal Company.
:
Completion of the Alexandria canal, i
-.......:.:
.:
Support and maintenance of the penitentiary of the District of
Columbia.
..........'
'...........
Payment of certain certificates. - - - -'^.
..
Custom-house in the city of Boston
....:........
.'. •;Do. ; . v^'
NewYork..'......'....:.....,....,
Repair ofthe pier arid wharves at the public store at Statenlsland.




05

Amounts required to
complete the service of the present
and former years,
though they may
not .be called for
until after the close
of the year 1837.

$64,000
i5,0OO
10,000
25,000
160,000
117,307
, IOO
500

[Amounts which will
not be required for
the service of the
present year, and
may therefore be
applied in aid ofthe
service of the year
1838.

Amourits which may be carried to the surplus fund at
the close of the" present
year, either because the objects for which it was appropriated- are completed,
or because these moneys
will not be required for, or
will no longer he applicable
to them.
•

00
00
OQ
00
00
44
00
00

$41,312 93

4,000 00
$10 00
150,000 00
4,505 39
7,455 76

30,000 Qo

130,000 00
100,000 00
6,813 75

Rebuilding the Lazaretto and wharf near the city of Baltimore..
Allowance tP law agent, assistant counsel, Soc, Florida.
.
Stationery and books for the offices ofthe Commissioners of Loans.
Printing documents relative to public l a n d s . " . . .
......'
Digest of existing commercial regulations of foreign countries..
Purchase of nineteen copies of the. American State P a p e r s . . . . .
Expense in relation to relief of certain insolvent d e b t o r s . . , . . . .
Compensation to commissioner, recorder, and translator for pri\ vate land claims, M i s s o u r i . . . . . . - .--_....
...
Contingent' expenses to commissioner, recorder, and translator for
privateland claims, Missouri..-.
'. . . . . . . . . . . . . . . . . . : . . .
To classify, &c., papers and dpcuments connected vvith private
land c l a i m s . . . . . .
: i......:....:......
Clerk hire, interpreter, .&c., of superior court. East F l o r i d a : ' . . . .
Refunding duties on the Belgian vessel Antonius and her cargo..
Refunding duties on railroad u'on, Lexington and Ohio Railroad
Company.......... . . . . . . — . . . . . . . . . . . ' . . . . . . . . . . " . . . . / . . . .
Rehef of Ebenezer S p a u l d i n g - . . : -'.-•-•--_-•.•-....
•
Biinging votes for President and Vice President of the United
States—- —
^.. -. —
-— ..........
Miscellaneous claims not otherwise provided for.
Florida c l a u n s — —'—
Expenses of running the southwest boundary line of the United
. States
.
i
Salary of commissioner for running ditto.
Salary of surveyor ditto
Exploring and surveying the north and east boundai*y line ofthe
United States.
----.
^Salaries of Ministers of the United States, Do. Secretaries of Legation
-.-.....


12,000 00
1,686 96
1,050
468
1,564
95

55
97
27
00

4,000 00

224 71
1,088 31
2,000 00

284 50
137 42
1,984 00
30 op
150 00
1,000 00

24,585 60
1,519 41

.
^

•
13,801 26
5,000 00

10,000 00
2,500 00
2,000 00
20,000 00
18,000 00
4,000 00

ST ATEMENT—Continued.
Amounts required to [Amounts which will
complete the ser- not be reqmred for
vice of the. present the service of the
and^ foriner years, present year, iand
though -they may may therefore be
not be called fqr applied in aid of
until" after the close the service of the
year 1838.
of the year 1837.

HEADS OF APPROPHIATIONS,

Salaries of Charges d ' A f f a i r e s . . \ " . . . . . . . . ; . . . . . " , . . - -.'.:;...'.
Outfit and s'aia:ry of a diploniatic.agent to T e x a s . . ' . ' . . . . . . . . " . . .
Putfits of Mriiisters ofthe. United States..'. ^ ,!>..."...:. ^....... ^.:.
Outftts ofCha^g^s d'Affaires of the United States.^.......... ^-.:.
Contingerit expenses of all the missions abroad. •,-.. .•'.......:.-...
Salary of di*agpriian; Sec".; to Turkey.'.*.:.;..-.'.:.",... : . :•/... : : ,
Gontingent expenses Pf fbreign kitercpurse,. .^ w.. =...'...... ^. ^.. >
Iritercourse:witii Barbairy P o w e r s . : ^ . : ; ; : : . / : : : . - : . . ::'//'s:...v.
Glaims on Spain, ^(pld,)^^ ^ ^ . . . . • . . . . . . . > : . . . . . . ^ , . . . ^ . .^ . ^ .>.
Clainis ori France, ' ( o l d , ) . . , : . : . . j . : : : . . : . - . . :":./. . • : i \ : , / , ,
E'^penses of 'commission under the cpnvention with King,of the
;• Two Sicihes,.,...,..... Jv---•.. v..-. w^>..•. :,;....,-,..>.'};:.•..
Interpreters, iguards-, and other expenses incident to the consulates
in the Turkisli dominions.. > «.'. >. i i ' - . . , . v ^ ^.;.. v , . .v..- ? v.;..
•
Helief 'and protectioii of American seanieri. . . , . „ . . . . . . ' : . . . \ . .
MILITARY'ESTABLISH^^

Poy ofthe Army :arid 'sub'sigtenpepf'officersi. ^ ^.




5,788 5S

11,685
1,991
18,500
10,759

f . p '

00
00
00
00

$4,500 00

35
71
00
32
2,427 3 1
11,731 0 2
150 28

5,500 00
4,000 00

. . . . . '
••?•<?-

$4,500
3,300
18,000
4,500

Amounts which may be carried to the surplus fund at
the. close of the present
year, either because the
objects for which it was appropriated are completed ^
or because these moneys
will not be required for, or
will no longer be applicable
to them.

§1443^3

.Subsistprice departments..%... , . ; ^ ; ^ . . . . ^. ^ . . . - . . .
P a y of the Army... f ^,--:.,-.,-,- -.,,-.-;-:. ^,,.'..,^..„. r.r,r:^.^.t
Sub^sistencepf oflSieprs- -:... -,..,-. ^^-.^.- -. - ^ r-.^- -r:*;-!
.Forage.f.-.-?..-.v-T •-•^•^r.*. rr-r, r •<:T.'-.^ n ^.-'i,..-:.-.-.---.--.-- .•-•-Glothing; ibr oSJcers' sprv9,iit§>.^^. - - ..,:.v.-- --"- - - - -Expenses of recruiting*., -..,.^^. ^ ^ . . ..^.-... ^ ...^ .-..
JVIedical and hospital department... i . . . . - . . - . - . . ' . .
Gpritingenpiesr of the Army. ..>.,..;..--.,.,-... ....^. ..^
•Ariirparages.prib;^ to 1 8 1 7 . . . . .^.,.,..^..^.,.;.....,,.'..... .•
Irivalid arid half-pay pensions.;„.... . . ; , . , ^ . . . . . . . . . .
Pensions to widows and orphans......-. -, ^. r. -..... ^....,
Revolutionaiy pension?;, act o I B I B . . .-.> . . . . . . . .
P a y of officers, cadets, • and riiusicians. West Point.
Subsistence^ of officers; arid cadets. ^
- do. .-...
Fpragie for ofeeijs'horses
•••''do......
Completing .custom-house bu^^^^^
—-.....
Arsenals.,.. . . . f i . : . . , . . ; . ....;... ..^
-------- —
Re.paii;S; .and improve^^
pf arspn.al at Chai^le.stpn
Arniirig^ and; equipping m i h t i a — .
.
Ordnance service. - - . -..- - . . . . . . . . .
r-Blacksmith's shop at Watertown, Massachusetts
Hospitals.
.
^-..—
Copper rifle flasks. - - - .-.--... — .
Percussion cannon locks
'..."
.
.
Armament of fortifications....,
=
Fort Adams
....
Fort Delaware . .
.............
Fort Schuyler
.Fort Pulaski
.:.
Fbrt, &c., on the Arkansas frontier
- - ^ -.



254,803
449,090
75..,984
38,228
4,722

88
56
72
34
03
9,520 00

18,825. 33.
1,000 00

5,000 00
682 94
180,541 62

947 50
274,728 30
11,814- 00
10,446 80
368. 00
6,800 00
100,522: 32
5,000 00
150,000 00
7,000 OO
7,500 00
60,149 15
4,000 QO
5,000 00
110,000 OO
7,000 00
31,6.80 QQ
55,000 00
20,070 59
30,000 00

-STATEMENT—Continued.

HEADS OP APPROPRIATIONS.

Fence around the burying ground at Fort Gibson. . . . . . . . . . . . . . . .
Fortifications -at Charleston, &c. . . - . ' . - . ' . . . . . . . . . . - . . - . - . . . - . . . .--.•
"Fort at G r a n d - T e r r e . . - - . . . . - . . . .
..
..
Rebuilding wharf at Fort Wolcott
.
...-..-......
Wood-yard and wharf at Fort Monroe
...-.....-.-.-..
Barracks, at Key West
Barracks, quarters, &c. . . . . . * . . . . . . . . . , . .^
1... ...-.•..-..
Bari'acks, quarters, storehouses, &c;. Fort Jesup, L o u i s i a n a . . . .
Barracks, quaiters, &c., near New- Orleans...'
.
Pier to give directipn to the Mis sis sippi-river-...-...'...-.-.-... . . .
Deepening the channels between .-the islands of North and South
Beacon light at pier, entrance of Erie harbor
....
- -.,..
Removalof light-house, on Goat Island ..-----...-.-.-.-.-..-...-...
Improving t h e harbor of Saybrook.-..
. . . . - . .•.-.-.-.... .•.•,.-....
Survey of the.^bar and harbor of Georgetown, South Garolina..
'^Removing the wreckiii the harbor of New Bedford
.......
'Kemoval of BrunsTOck bar, Georgia.
.
...,,.......... .




Amounts required to
complete the ser-:
vice of the present
and former years,
though they may
not be called for
until afterrthe cldse
ofthe year 1837.

Amounts which will
not be required for
the service of the
present year, and
may therefore be
applied in^ aid of
the service of the
year 1838.

Amounts which may be carried to the surplus fund at
the close of the present
year, either because the objects for which it was appropriated are completed,
or because these moneys
willnot be required for, or
will no longer be applicable
to them.

$500 00
4,190 62
$15,000 00
500 00
65 58
. 4,362 97
10,000 00
10,000 00
9,011 17
37,165 88
, 6,500 00
^ 674 00
41,100 00
20,000 00
1,000.00
$7,500,00
9,956 00

Improvirig the harbor of Mobile . . .
.".
....
Improving the navigation of Cumberland river, -Tennessee
Improving the Mississippi river above the mouth of the Ohio, &c.
, Imprbving the navigation of the Chattahoochee.
Increasing the depth of water in the mouth ofthe Mississippi river
Reirioval of obsti'uctions from Chipola r i v e r . . . -.
...........
Removal of obstructions from Escambia river
............
Clearing out the Ochlawaha river . . . . . . . . . 1 . . . . 1 . . . . . . . . ^ ^. ^
Removing bar in the river Delaware . . . .
.1...
Survey ofthe mouth of Milwaukie. - . . . . . . - - . . . - . . . . . . . _ .
Roads and canals, (surveys and estimates,)... -.-.!.....
Cumbeiiand road in Indiana. .•
....... J......
...".-..
Gumberland road in Illinois. J
-.......
. . . . . . . ".
Mihtary*roa:d from the Mississippi, between St. Peter's and Des
/Moines.....".....—.........
. . . ' . . . .^...
Road froni Pensacola.to Tallahassee. —
Road from-Colerain to 'Tampa B a y . . . ^ . . . . . . . .
... J
.
Road from northern boundary of Florida to x\ppalachicola
Surveys of a iriihtary character, &c
Monument over the remains of General Brown . . P a y of llhnois militia
.
.
. .,
Current expenses of the Indian department
Miscellaneous objects ofthe Indian department
FulfiUing'treaties with various tribes of Indians
Sales of reserves of Creek Indians, under treaty of 1832
Civilization of Indians. .
P a y of Indian sub-agents
P a y of interpreters and translators
Presents.to Iridians.
Provisions to Indians at the distribution of annuities
.........



14,500 00
24,000 00
37^000 00
2,000 00.
171,950 00
^6,00Q 00
5,500 00
4,000 00
. .
400 00
9,959-78
' 8,960 00
136,547 34

,
14,986 20

•

65,500 00
1,000 00
211 74
10,282 04
6,OO0 00
93 70
4,138 25
14,205 89
: 8,250 00
235,675 77
10,000 00
. 8,469 07
7,806 40
7,263 70
5,238 27
15,441 96

S T A.TEMENT-^Continued.
CO.

Amounts.requlred tp
complete the service
of the present and
fornier years, tho';
they "may not be
called for until after
the close of -the
year 1^7.
\ .

HEADS= OF APPROPRiATIONS. -

Contirigent experises of Indian. dep;artinent..'...........,.......'..'.
Blacksni-iths' .estabhshpierit^^......... ^ . . .
.................
Treaty stipulations:- .^^ ; . :......V-.^ -;----- - - -- - - .........
Indian -annuitie^v... * . . . . . ' ^ . • . . / . -. - . - . . . . . . . . . . . . . . .
...
.Education of Indian youths -...--...-..,.,./..,....,.. ^... ..^.^................;
Transportation and inciderital expenses...
. . . . . . ^.........:
-Expenses of npgptia.ting with., the.Cherokees.
^........^
'.
Holding treaties, with the Caddoes pf L o u i s i a n a . . . . .
......
Cari*ying; into eflfect the, treaty with the Cherokees of 29th Decem• ber:1835-/, - . ; - . : . . . - . - . . . . . . : . . . . , - . - . . . . . . . . \ . . . - . . . ' . . ' . . . . • . . - . . . .
-E.x.pens.es^pf re.mpving^^
/.-...
Completing medial for General Ripley. ^, . . . , 1 . . ' . > < • . . . . . . . . . - . Medals and swords foi* Croghan and o t h e r s . ' . . . . . . . . . . . . . . . . .
Claim.s of Lieutenant Colonel Wfihaml^awren^^
othersr.-.,,Rehef of ShubaelCbnnant ./;,>- ^- r - v ^ ^ , / . - - - - . . . ^.
- -.
.E)p... .Riddle, Be.ckette, and .EJeadington...,...•
Do, " Colonel Gideon JVlPrgari.,......, ^..,... i .
Road, from Fort Swiith.to Fprt To
- - - - - - -.


' - ! - . - • ! T •'.••T '

Aniounts which' will
not be required for
the service of the
present year, and
may therefore be
applied in aidof the
service of tke year
1838.

Amounts which may be carried to the surplus fund at
the close of the present
year, either because the objects for which it was appropriated are completed,
or because these moneys
will not be required for, or
• will no longer be applicable
to them.
--

$14,647 92
16,453 67
15y59a^ 46
168,152 99
26,247 92
28,812-47
• lj284 8 8
.
$30 00
2,069,384 22
30,000 00
3 Q Q OQ
3.00. QQ.
. . • 347- 67
1,07Q 24
250 62
885 00
278 94

Do.
Ohio to D e t r o i t . . . . , . . . .
'. — - . . . ;
Do.
Pensacola.tp Tallahassee..... - ..^.........
Dp. -. ;§t,.'Augustine tP Tallahassee.. i . . . . .
.Rebuilding hght-house pn Brandywine slioal?...
Light-house on Fhnn's Knoll, near Sandy Hook.
Preventing and suppressing Indiaa hostilities . . .
.y"[

-

....
::::
'

.

.

.

.

.

•

•

308 24
30,450 00
190,000 00
i,lM,D.Oj(); 0.0.

1)6.

.'.-.• B o s t o n , . . ^.'.-.r,..T.^.'n^-.^=-r K'. r r - . r ; - - ^ . - r^«..^ , - ^; T , . T - . -

•\- •- -ijo.' • N e ^ v y o r k , . ,^., ^ , . . . . . ' . . . . ^ / . . . . . . . . ........
. • Dp. • Washington . ... . . . ^ . , . ; , , - - . . : . - - . . - . . . . ; . . . .
• Dp. . Norfblk .-,.,.......,. i . . . . . . . . . . . . . . — . . . .
Do.
Pensacpla
Wharves at the riavy-yard, Pensacola.'..
.......
Magazine at Boston.^.
Hospital at Pensacola.
Fixtures, &c., for asylum near Philadelphia
Ordriance and ordnance stores
Gradual improvement of the Navy
-Repairs of vessels.
Contingent expenses not enumerated
:..
Rebuilding frigate Congress.
Building and.equipping two sloops ofwar.
Do.
. six vessels of war
. , - . , . -.



'

•

••'•" :^|^AyAL;••ESTABLISHMENT. •

•Pay Eriid.Bubsistenee of .tii^
i^.. P;ay .of superirLteridents, &Cy. - ^>,,, ->,. „ V- ^'. ^ v- r ^ r- - Bounties;tp.seamen.,.,;.;/. . - , . . , - . . . ; . , . . . . . . . . . . . . . . . . . . . . . .
Prpvisipns:.;'-..-.-^^ ^.^..•^.,.-'^.. .i..:.^ . • . . - . . . . . ; . . • . . . . , . • . . . . . . :
•axd>. Pprtsrrioulfi^-,... \.\-:.
. ..:W.^ -^^H.- ^ - - -.

•°

- •..
.
.

:

i

J •

. z :

:

....
....
....
....
......•

600,000
11,498
25,000
150,000
11,700

00 $1,000,000 00
.91
22,000 00
00
00
150,000 00
00

'2o,io5 m

6,§39 3 3
.
10,760 08
6,6,438 47
60,574 74
147,600 00
1,750 00
•
20,545 00 ; • • 1,318. 88.
. .'.. ; 21,767 07
100,926 95 1,500,000 OO
. 50,677 03 . 50,000 00
1,762 01
....
50,000 00
50,000 00
130,691 89
• 390,000 00
.

.

.

.

.

•

5. 57

ESTIMATE—Continued.
O

Amounts required to
complete the service of the present
and former years,
though 'they may
not be called for
until after the close
of-the year 1837.

HEADS OF AiPPROPRlATIONS.

Agency on the coast of A f r i c a . . . . . i . . . . . . . . . . . . . . . . ^ . . . . .
Repairs,^ &c., of building at-Sackett's H a r b o r . . . . . . . . . . . . . .
Surveys of coasts and .harbors
.
Purchase of a site-, and erecting dry dock. New York ^ . . . . . . . .
Prize money to officers and crew of brig General Armstrong.
Building naval-store s h i p ^ . . . ^ . . ^ . - . . . . - . . . . . . . . . . ' . . . . . . . .
Covering and .preserving ships in. ord i n a r y . . . . . . . . ^. ^ . . . . . . . .
.Contingent expenses for 1824, 1829, 1830, and 1 8 3 1 . . . - : . . . .
P a y and subsistence of the rnarine c o r p s . . . . . . . . . . . . . . . . . .
Mihtai'y stores,
do.
do. . . . • . . :
Contingent expenses j do.
: dp...
....
Barracks at Charleston, Gosport, and Pensacola

$9,763
300
1,719
93,996

74
00
00
93

2,000 00

157 16
1,872- 88
253 69
44,000 00

2,241 10
4,000 00

150,000 00
10,359,091 81

TRJEASURY D E P A R T M E N T ,
R E G I S T E R ' S O F F I C E , Decemher Ath,



Amo.unts which -will Amounts which may be carnot be required for i'ied to the surplus fund at
the service of the the close of the present
present year, and year, either because the obmay therefore • be jects for which it was apapplied in aid of propriated are completed,
the service of the or because these moneys
will not be required for, or
year 1838.
will no longer be applicable
to them.

3,782,551 20

361,839 93

1837.

CD

T. L. SMITH, Register.

• CO

1837.]

SECRETARYOFTHETREASURY.
.^

.

171

C.

A statement exhihiting the value ofi Imports and Exports duiing the years
. ending on the SOth bfi Septemher, 1836 and 1837.
1836.

Imported, merchandise free of duty, value. $92,056,481 00
Do.
ip^ying ad valorem .
duty, value
. 59,343,388 OO
^ Do.,
paying specific duties, value
38,580,166 00
$189,980,035 Qo

1836.

Expoited domestic produce, &c., v a l u e . . . $106,916,680 00
Do.
foreign merchandise, value
21,746,360 00
: • .

. $128,663,040 00

1837.

Imported in nine months, to-the-30th June,
1837, value
•..\
$118,023,369 O
O
Do.
in thethird quarter of 1837, being
the fourth quarter of the, com; : : : ; : : : ;
merGial;year> , . ^ . . . . . . . . . . .
22,82,9,611 00

Consisting :of merchandise free of;
" ' ;^ ' :
duty.;.> j . ; . . . ' . _ . - . - . : . . - ^ ; . : : : $ 6 9 , 1 7 0 ^ 1 2 0
Corisistirig of merchandise paying:
. • '
ad yalorem d u t y ; . . . . . . . . . . . . - . • 31,617,498
Consisting of riiercharidise payirig
specific duty . : . • . . . . . . . . . . . L . V 40,065,362
.
. : ' : fi.- ' fi : • ' : . ' ] ' : : -—^- :
-

'
00
:
00 00
; $140,852,980 OO

1837.- Exported domestic prpduce, &c;, during
.
.
- : •• : nirie:moiiths to 30th June, 1837, value... $82,077,489 00
.'
: 'doniestic: produce, during the
• ' ' ' : - : • third- quarter,, being ; the fourth
': . quarter.of the commercial yearo
13,105,510 00
;
^; i ' • ; : ; • • .
•
1837. Exported foreign; merchan/ • ^'.
'
• . dise,.duririg riirie rrioriths,.
to 30tii J u n e : . . . =:..-.;.: $15,660,337, 00
Ex:ported foreign merchan-"
dise, during the 3d quar-;
'
. •
ter, beingthe,4th. quarter..- ^
of the commercial year.* 6,053,524 00

$95,183,199 00

21,722,861 00
V a l u e . . . . . . . . $116,906,060 00
TREASURY DEPAIITMENT,
'
R E G I S T E R ' S O F F I C E , Decemher 1, 1837.

•

•• '

*




"T—^"^
•

T . L . SMITH,'Register ofi the Treasury.

CompafciUve loiew ofi the condition of aU the Banks in the United States on- or near the 1st ofi January, 1836, l5i( ofi Jan:uary,
.
1837, qiid since the suspension ofi specie payments.
January 1,; 1836.
Number of banks from which returris have been; received........ . ^ . . . : . . . . . . . .
Number of bfancheifrom which returns have been received, i . . . . . . . . . . . . . . ,^,.,
Number of banks the affairs of which are estimated, (for want of returns,).\ . .
.Nuni.ber of branches; the affairs of which are estiniated,. (for want of return.s,;) .
Whole number of banks... i
.:.,...........:.............
Whole number of branches
...i..... ...........,..,............
Capital paid in
...................................-..'.,
. liOans and discounts..... .,i^.-.;..'.
,.
Stocks.
.;.;,......;......,.,.............................. .s.... ^......
Real e s t a t e . . . . . . . . . . . . . . . t , , . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i.;....
.;.,.. .*...,..-.
Other investments..,...,........:..:........,. ....^....... .>.........,...". *.,
,... .,...,•:, i.
Specie . i . . . . . . . i . .v*;;.,K...;..i......:,............., ...i,....,....,.V.....
-.V*.'• ••.<!•'
Specie f u n d s . . . . . . . . . . . . , . « . . . . . . . . . . . . . . .1'..
j , . . . . - . ..»..-..;..• .;•..
.;.. ^.. .•
_Notes. of' other banks-. . . . . . . . . . . . . . . . . ; . . . . . i . . . . . . . . . ; . . .^ • . . .
?......:....
Due. by-.other banks......'i.......... , . i . , . , . . . , : . . . . . . . . . . . . . . . . . . . ; • .••
.*.•............
Circulation.............................;.. .;• •• • • •• • • •••.•.•• . « . . . . . , • . . . . . ; . . . ; . . . . . . . . . .
Deposites ; . . . . . . . . . . . . . : . : . . . . . . . . . . v....:.
;
J, ..;...,.•...'..
Due-.to other banks..-..;.»-^M .••^. •.:••.•„• •.,•••..
•.• • • . • . . . . . ' . . . .J.....;..,...
Other liabilities...'........_..,....'.;;.../.'
.:....... .^.;.,... ^......
Aggregate of deposites-and circulation....
.;:.........../. i.........
Aggregate of deposites' and circulation, and due^ to Other banks . . . . . , . , . i.........;..
Aggregate of" specie', specie funds, notes of otlier banks, and due by otheF bianks .
Aggregate.of irivestments.supposed to" yield income
i . . . ' . , . . . . . : . . . . . . -.....
Excess of such investments over amount'of capital paid in . . . . . . . . . . . . . . . . . . . . , ; . ! .
Total liabilities,.exclusive of those to s^tpckholders
-:.......:.........,.;,...
Net circulation . . . . :.•;...'
;....................'....,.....




.559
146
.567)
-146 3 713
p5i,875,292
457,506,080.
: 11,709,319
, 14,194,375
'9,975,226^
. 40,019,594.
4,800,076
: 32,115,138.
51,876,955
140,301,038
115,104,440
50,402,369
.25,999,234
255,405,478
305,807,847
128,811,763
493,385,000
241,509,708
331,807,081
108,185,900

January ][, 1837.

Near July 1,1337.

528
125
105
25
6331
150 ( .7.83:.

316
9,4
324
60
640:) 794
15,4

^8^,225,990522,891,461.
10,914,121
14,234,561
7,449,523 .
38,708,995
5,221,416
35,689,110
61,083,887..
151,308,120
129,663,096::
60,434,798:^
31,540,272
280,971,216 '
341,406,014
140,703,408
555,489,666
269,263,676
372,946,286
115,619,010

1300,299,185
5,02,557,093
20,206,218
14,642,625
18,258,082
30,027,004
2,118338
18,203,175
47,109,138
. 117,764,759
93,7-56,477
52,242,223
..71,366,799
Sll,521,236
263,763,.459
97,457,555
555,664,018
255,364,833
335,130,258
99,561,:584

E.

00
CO

Comparative condition ofi the Banks in fifteen States, hefiore and since the suspensioii ofi specie payments.—{These are all the States
firom which full retums have heen received.)
Maine, N . Hampshire,
and Rhode Island.
1837.
1837.
I Jan., Mar ,j June and
and May • August.
Number of b a n k s . . . .
. Number of branches .

New York and Delaware.

1837.
January.

1837.
July and
August.

1837.^
January.

1837.
June.

102
6

101
6

25

8
25

144

144

Capital stock
,;
17,903,379 18,143,852 37,919,480
Loans and discounts
26,051,929 24,895,340 80,912,356
Stocks...,
143,362
1,989,292
Real estate
408,331
581,932 2,350,696
Other investments.
23,942
. 1,125,537
Specie
630,651
796,752 6,698,976
Specie funds... i
i
790,175
3,268,648
Notes of other banks
851,338
238,439 12,601,228
Due by other banks
^
1,102,940. 2,038,481 19,015,869
Circulation.
4,439,502 4,284,771 24,916,948
Deposites
4,503,173 3,251,875 31,447,164
Due to other banks
279,479 1,182,014 20,509,020
Other liabilities
1,026,711
482,093 7,078,167
Total of inimediate liabilities
9,222,154 8,718,660 76,873,132
Total of immediate nieans
3,375,104 3,073,672 41,584,721
Total of other means
26,627,564 25,477,272 86,377,881
Total of m e a n s . , ,
30,002,668 28,550,944 127,962,502
Total of liabilities*
. 10,248,865 9,200,753 83,951,299
Investments yielding income
26,627,563 25,477,272 86,377,881
Excess of such investments beyond
capital....... i
8,724,184 7,333,420.1 48,458,401
^ Independent of liabilities to stockholders,



Virginia and North
Carolina.

37,192,128 9,256,200
73,119,166 23,790,523
276,734
193,333
756,134
2,219,311
4,441,451
1,218
3,140,983 2,507,910
1,459,623
978,802
6,003,269
14,574,451 2,335,281
12,426,775
15,946,686
21,970,521 6,696,674
14,041,402
810,461
294,747
9,620,602
51,958,609 19,933,910
25,178,326 5,821,993
79,973,261 24,824,609
105,151,587 30,646,602
61,579,211 |20,228,65r
79,973,261 24,824,609

Alabama and Ten-

Kentucky, Missouri,
Illinois, Indiana, Ohio,
and Michigan. .

Noy. 1836,1 1837.
Nov. 1836, 1837.
and
and
I June, Aug
June and
Jan.1837. and Sept.
Jan. 1837
July.
6
12

6
12

48
30

55
31

9,613,090 12,664,841 15,369,395 21,392,863 24,710,926
21,786,440 |29,094,156 33,295,267 40,433,704 38,669:265
2,080,250 2,381,542
354,361
518,775'
627,291
72,143
749,767
70,048
337,679
665,510
1,190
1,834,423 1,951,176 1,183,939 7,192,448 7,316,686
140,941
392,064 4,528,120 2,724,817
625,203
412,640
1,513,029 2,916,752 1,930,161 10,625,375 6,286,106
8,438,463 11,363,454 7,611,581 17,318,422 14,577,408
5,744,500 5,304,712 5,559,858 19,228,928 10,617,609
1,084,600 2,130,174 3,189,152 3,729,576 2,955,592
279,792 ^ 380,495 1,555,746 1,799,140 3,964,369
15,267,563 18,798,340 16,360,591 140,276,926 28,150,609
3,972,655 5,280,568 3,506,164 22,345,943 16,468,550
22,891,758 29,164,204 133,367,410 143,370,408 42,343,608
26,864,413 134,444,772 36,873,574 [65,716,351 58,812,158
18,547,355 19,178,835 17,916,337 142,076,066 32,114,978
122,891,758 129,164,204 133,367,410 143,370,408 42,343,608

42,781,133 115,568,409 |l3,278,668 |l6,499,363 117,998,015 121,977,545 117,632,082

INDEX,

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




686

njTDEX.

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

448
361
0 1
91
36

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




INDEX.

687

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




688

njTDEX.

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




INDEX.

5

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




690

njTDEX.

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




INDEX.

691

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




692

njTDEX.

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




INDEX.

693

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




694

njTDEX.

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




A

148
181,232, 371
235,, 298

INDEX.

695

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




696

njTDEX.

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




INDEX.

697

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




69S

INDEX.

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

...........

..
•

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

V

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

..

199
253
364

...

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

1...
..
...

...;..
„...,

..

..

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

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




INDEX.

699

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




700

njTDEX.

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




89

INDEX.

701

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




702

njTDEX.

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




INDEX.

703

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




704

njTDEX.

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




INDEX.

705

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

350

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




706

njTDEX.

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




275
636
508