US Presidency
1865

The revenues of the last fiscal year amountedto $ 14,556,158 and the expenditures to $ 13,694,728, leaving a surplus ofreceipts over expenditures of $ 861,430. Progress has been made in restoringthe postal service in the Southern States. The views presented by the Postmaster-Generalagainst the policy of granting subsidies to the ocean mail steamship linesupon established routes and in favor of continuing the present system, which limits the compensation for ocean service to the postage earnings, are recommended to the careful consideration of Congress. It appears from the report of the Secretary of the Navy that while atthe commencement of the present year there were in commission 530 vesselsof all classes and descriptions, armed with 3,000 guns and manned by DorĂ©, the number of vessels at present in commission is 117, with 830 gunsand 12,128 men. By this prompt reduction of the naval forces the expensesof the Government have been largely diminished, and a number of vesselspurchased for naval purposes from the merchant marine have been returnedto the peaceful pursuits of commerce.