, 1841-05-15
STATE OF TIE FINANCES AT THE
CLOSE OF TuELAsT
TEEAsURY DEPARTMENT.,
March o I6a1.

with ms resignation, a general statement OF
the fiscal operations OF his Department. since
the last annual report, in order TO show its
condition till the close Of his connection
with il.
So far as yet ascertained, the ordinary ex-
pendltures for the year 1910, have. since that
report, proved 10 be less than those in 1899
by. the amount thin estimated of be.
tween two and three millions of dollars.
The revenue has turned out. also, TO be
nearly the same, as then calculated. making
n the actual result-though affected by flu
tuatlons IN imports almost nexampled-lit-
tie or no variation from the estimates in 1899,
beyond what has been the average annually.
Tor the last quarter of a century.
The available balance of money in the
Treasury, at the commencement: of 1871. in
GLIDING. as WIS before computed. what stood
to the Tres surer's credit with collectors, re-
'%ceivers, oad the Mint. subject to draft, has
proved 10 be about as much as was antici-
oated in December last.
The only material difference, and which
has been since explained 10 the proper COM
mIttee, was caused by some new charges i'm
posed by Congress, through new appropria-
lions, which would Otherwise nave fallen on
1G4l, and some failures by the indebted
banks TO pay SO much in 1910 as was en-
pected.
The power remaining on the It of Janu-
airy 10 issue Treasury notes, constituted an
other OF the fiscal means for the present
year. and 1t has been aScertained TO exist in
an amount somewhat greater than had been
estimated.
Hence the Present wear commenced with
resources on hand quite equal to the antici-
patlons previously formed. The differences
before named were. fortunately. of Il charac-
ter not to change the fiscal condition at
l84l-as in proportion 10 their respective
amounts. the receipts in that wear will pro-
baby be larger. and the expenses smaller.
But notwithstanding this. il was deemed
very important, as detailed fully in the an
nnai report. TO obtain at an early day the
aid OF some subsidiary means, with Il view
10 quad against fluctuations and contin-en-
cic> generally. us well rs to e~qualiZe the re-
ccipts and expenditures during 1871. the lat
Ter being likely to fail very heavily on the
first quarter of it.
Accordingly. rs had been done on some
similar occasions since the public debt was
discharged. and the current revenue diminish
ed. these means were requested by the De
partmeIt the first moment practicable after
the session began. being in the annual report
itself. The additional communications. IN
this and other wears. urging Il compliance
with snch requests. were made only 10 de-
velop new facts and reasons. which had IN
the mean time occurred, favorable to the pre-
vious recommendations.
Although the aid was not in this instance
furnished rs early as desired vet the Depart
ment has succeed"d 10 commanding its finds
so eiiectu2!ly rs with the existing resources
on the frs, Of Januarv. and the current re-
ceipts afterwards. TO meet all the authorized
claims that were due and presented during
the severe pressure experienced in tina,
month.
Since the desired aid was furnished by the
passage OF the new net concerning Treasury
notes, IN February. no necessity has arisen
TO issue any of them, solely with a view Ia
defray claims already payable. Bat in con,
sequence OF the public convenience being
much promoted by advances of money for
pensions. before they would fall due. on the
4th OF March. those advances nave beer
made: and an amount of notes under the new
act has consequently been issued. equal tC
about S500,00O. This is no; 50 great BIZ
$4,000, as the sum which has ALREADY
been forwarded on account of those advan
ces. No greater amount for any purpose
and probably not so great as that difference
is likely to be called for before the 4th in
slant. Hence It appears that the other 4
valuable means in the Treasury have. rs yet
proved more than enough, in the aggregate
for the discharge of all engagements OF every
Kind sanctioned by Congress. whether old o
new,i in arrear. or otherwise, which were due
and have been presented for payment.
II may be proper to state further, that the
receipts, since the year commenced, have
fully sustained the computation for the whoil
of the first quarter made by the Department
in January last. The a~ccruing revenue from
duties payable three and six months hence
has been much larger in January than would
be required monthly 10 make all the receipts
from that source in 1871 equal the amount
estimated in the annual report.
The revenue received in February, no,
yet fully ascertained, has probably been near.
ly the same as in the preceding month, but
the accruing duties are believed to have been