US Presidency
1863

Of the disbursements there were for the civil service $ 23,253,922.08, for pensions and Indians $ 4,216,520.79, for interest on public debt $ 24,729,846.51, for the War Department $ 599,298,600.83, for the Navy Department $ 63,211,105.27, for payment of funded and temporary debt $ 181,086,635.07, making the aggregate $ 895,796,630.65 and leaving the balance of $ 5,329,044.21. But the payment of funded and temporary debt, having been made from moneys borrowed during the year, must be regarded as merely nominal payments and the moneys borrowed to make them as merely nominal receipts, and their amount, $ 181,086,635.07, should therefore be deducted both from receipts and disbursements. This being done there remains as actual receipts $ 720,039,039.79 and the actual disbursements $ 714,709,995.58, leaving the balance as already stated. The actual receipts and disbursements for the first quarter and the estimated receipts and disbursements for the remaining three quarters of the current fiscal year ( 1864 ) will be shown in detail by the report of the Secretary of the Treasury, to which I invite your attention.