It has been estimated that
during the year 1816 the actual receipts of revenue at the Treasury,
including the balance at the commencement of the year, and excluding
the proceeds of loans and Treasury notes, will amount to about the sum
of $47,000,000; that during the same year the actual payments at the
Treasury, including the payment of the arrearages of the War Department
as well as the payment of a considerable excess beyond the annual
appropriations, will amount to about the sum of $38,000,000, and that
consequently at the close of the year there will be a surplus in the
Treasury of about the sum of $9,000,000.
The operations of the Treasury continued to be obstructed by
difficulties arising from the condition of the national currency, but
they have nevertheless been effectual to a beneficial extent in the
reduction of the public debt and the establishment of the public credit.
The floating debt of Treasury notes and temporary loans will soon be
entirely discharged. The aggregate of the funded debt, composed of
debts incurred during the wars of 1776 and 1812, has been estimated
with reference to the 1st of January next at a sum not exceeding
$110,000,000. The ordinary annual expenses of the Government for the
maintenance of all its institutions, civil, military, and naval, have
been estimated at a sum less than $20,000,000, and the permanent revenue
to be derived from all the existing sources has been estimated at a sum
of about $25,000,000,
Upon this general view of the subject it is obvious that there is only
wanting to the fiscal prosperity of the Government the restoration of an
uniform medium of exchange.
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