US Presidency
1866

Nothing could more clearly indicate than these statements the extent and availability of the national resources and the rapidity and safety with which under our form of government, great military and naval establishments can be disbanded and expenses reduced from a war to a peace footing. During the fiscal year ending June 30, 1866, the receipts were $ 558,032,620 and the expenditures $ 520,750,940, leaving an available surplus of $ 37,281,680. It is estimated that the receipts for the fiscal year ending the 30th June, 1867, will be $ 475,061.386, and that the expenditures will reach the sum of $ 316,428,078, leaving in the Treasury a surplus of $ 158,633,308. For the fiscal year ending June 30, 1886, it is estimated that the receipts will amount to $ 436,000,000 and that the expenditures will be $ 350,247,641, showing an excess of $ 85,752,359 in favor of the Government.