The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-12-03

penditure had been estimated ut q sum me- .
exceeding the amount actually expended for !!
those objects during the year ending on the !
SVth OF September, 1871, that is TO saw, at !
100000, instead of 100000 dollars, the !
estimate OF receipts would exceed that eff
current eXpences. 1
The disbursements account Of the |
naval establishment have. amounted in
the year ending on the 5Oth September,
1871, to Sl,675 QUO
Aud in the year ending on the 30th
September 1911, to cf56.OJC
They are estimated for tho year 1919
1t e,sU,Up
The disbursements or account of the
military establishment have amounted
lii the year ending on the 30th Septem-
ber 1910, to o.SUgCOo
And in the year ending on the 3oth
Sept. 1871 to s,iso, 900
They are estimated for the year 1919
at s,195, 900
But the detailed annual estimates for the
year 1912 will shcw that they are predica-
ted on the emf loyment of almost the whole
OF the naval force, and Of the whole military
establish ont OF the United States, as au-
thorised by law, covering, besides several O.
Their items, all the eXpence of more than
1900 effective men i'll the land and sea SER
vice.
With respect to the payments on account
OF the principal OF the debt it is evident
that an authority to borrow sum equal to
that which will be reimbursed during the
year 1912, will be necessary. The pay
ments which, according to law, must be
made during that year on that account con-
sist of
L. Annual reimbursement of six per
cent. and deferred stock i,57o,0oD
|. 9. Reimbursement Of the residue of
the converted stock 565.SlS II
Amounting together to c,135,318 IL
This sum, and that payable for interest,
amounting together to 4,360,000 dollars,
leave, in order to complete the annual ap-
preparation of eight millions, balance of
$500 600 dollars which can be applied in
no other manner than in purchases of stock
at the prices limited by law. The amount
which may be thus applied is therefore un-
certain. >
PUBLIC DEBT.
1t appears by the statement CD that the
payments OH account of the principal of the
! public debt will, from the 1st of October,
1910, to the s1st December, 1911, have ex-
ceeded six millions four hundred thousand
dollars. With the exception of the annual
reimbursement of the 6 per cent. and defer
red stocks, there will remain at the end of
the year 1871 no other portion of the public
! debt rcimburseable at the will of the United
3ta;es, than the residue of converted stock,
mounting, as above stated, to SOS 600
dollars, and which will be paid IL the year
1912. There being nothing afterwards left,
or which the laws, passed subsequent to the
year 1901, for the redemption of the debt,
can operate, general view of the re-
suit and effect OF those laws will now be
presented.
Exclusive Of near three millions of unfun-
ded debt, since reimbursed, as detailed in
the report of 18th April, 1908; the public
debt OF the United States amounted on the
lst OF April, 1901, to S79,926, 9so
The whole amount of PRINCIPAL ex-
| tinguished during the period of ten
years and nine months, commencing
! the LIST OF April, 1901, and ending on
the S1st of December, 1911, exceeds
forty-six millions of dollars, viz
| Foreign debt paid in full 10,O75,Oos.
Eight per cent. FIVE and
! half per cent. four & half
per cent. and navy six per
cent stocks; and tempo
iary loans due on the 1st
Of April 1901 to the Bank
OF the u States, all paid
in full 1e6s7,7oh.
Six per cent and defer
red stock, including the
exchanged stock reimbur-
sed 2o,so,7A
Three per cent. stock
including converted stock
reimbursed 2,o7s,26e
Registered debt & debt
due TO foreign officers GOODS
---------- 6,O 22, $40
---~
Leaving the amount of old
debt unredeemed on LIST
January 1912 and con-
sisting of the following
Species viz. $1,000, 1So
Six per cent and deferred
stocks unredeemed, a.
mount 17,oG, Qa6
Three per cent
stock o 16,157 800
Converted do. 565,3lS
--16,7 1885, Dob
1896 sax per
cent stock $1,000
Registered debt and debt
due to foreign officers 338sS
33,9O4,1s9
Ano to which adding the
Louisiana six per cent
stock being a debt
contracted subsequentto
the lst OF April 1901 fte5o, 40,
Makes the whole amouHt
of public debt on tao
LIST OF January 1879 &As,i54ieo
The annual interest on the pubIir,
debt due on the Isl of A pill I SOf,
-; amountedto S&,iso, 1858
The annual interest on the public
debt extinCushed bet wrru the I ar