The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1843-12-11

TREAsURY DErARrMsNT,
December 6, 1913.
SlR by ihe act Of Congress approved May 10,
1900, K = made the duty Of the Secretary Of the
Treasury 10 digest, prepare, and lay before Con
guess, ~ The commehcenent Of every session. a re-
port on the subject Of finance, containing estimates
Of the public revenue and public expendl..ses' 81
plsSs for improving og~increasngl's revanuss fsoM
time to time by the act Of e6th August, 1872. Che
fiscal year Of the Treasury is directed 20 commence
the first day Of July in each year, beginning with
that day ia the year l643 and ii il provided sbas Che
report and estimates required 10 be prepared and
laid before Congress at the commencement o. each
session. by the Secretary Of the Treasury shall be
report and estimates for each fiscal year, commenc-
ing aforesaid and terminating the sOth day Of
June, in the succeeding calendar year.
In obedience to these laws, the following report is
submitted:
The act Of 1912 contemplates that estimates Of
tke receipts and expenditures of the fiscal year com
mencing LIST July, 1874, should be furnished at the
commencement Of the present session of Congress-
They have accordingly been prepared, and here
in presented.
The estimates for the current fiscal wear. com
mencing LIST of July, IS43, were made in December.
1912, so much 10 advance of The time TO which they
related, that they We're necessarily conjectura to
great extent. They can now be rendered more exact
by knowledge OF the true state of the Treasury at
the commencement Of the fiscal year, and by bet
ter acquaintance with the necessities Of the various
branches OF the public service. Accordingly the
different Departments have been requested to revise
their respective estimates. Upon The information
thus obtained, corrected account of the actual and
estimated receipts and expenditures of the current
fiscal year. commencing the LIST of July last has also
been prepared, and Is now submitted
In order TO Till the chasm in the accounts between
the 5lst OF December 1912, and the LIST day Of July
lS43 caused by the change in the fiscal wear and 10
ascertain the true balance in the Treasury on the ls
July, lS45, 1t becomes necessary to exhibit state
ment OF the receipts and expenditures during that
time, which IS accordingly presented herein II will
DC seen lhat the expenditures exceeded and the re-
ceps Tell short OF the estimates for that period An
account of the actual receipts and EXPENDITURES
calendar year lo42 is also annexed to this report
part OF them ony having been hitherto submitted to
Congress, in which the expenditures will be found
classed under general ct distinctive heads Of appro-
praton, so as TO exhibit briefly and intelliybl, the
subjects to which they have been applied 1t is an
abstract OF the warrants issued to the Treasurer mr.
suant to the appropriations by Congress and paid by
him. 1t does not embrace the trust funds or indem
mites, although it does Include what are usually
CAMEO outstanding warrants, which, in fact are not
outstanding, but are merely unsettled having been
PAID by the Treasurer to the parties who presented
them by checks and drafts on the public repositories
ana receivers but which had not been returned AT the
Tune OF the settlement of his accounts, although most
If not all of them, had in fact been paid.
The statements of the receipts and expenditures
for the half year between the LIST Of January and the
lst OF july lS43 and for the Srs quarter of the new
fiscal year, are also founded upon the entries in the
books Of the Register of the Treasury and make no
distinction between warrants settled or unsettled
These statements, therefore, show accurately the nav
ments that have heen made Al
priatlons by Congress, although all the evidences Of
those disbursements required by the auditing off,
GERS may not have reached their Offices
This mode of exhibiting the state of the Treasury
mas not always been observed. The money appar-
emily in the hands of the Treasurer has sometimes
been stated TO leave the impression that il was
an available balance. The average Of outstanding
warrants, as they called for series of years has
been deducted from the apparent balance instead of
deducllng The exact amount that remained unsettled
But when warrant has beeni issued to the Treasurer
and paid by him, the amount is efectualIy disposed
OF, and cannot be reached by Congress- whether the
easurers account OF such payment is settled or not
The mode now pursued therefore, is deemed the
proper one to exhibit The amount in Ia, Treasury
subject to appropriation This explanation Is made
TO account for discrepancies that may appear be-
tween the statements and tables herewith presented
and those 10 former reports
These accounts and estimates present connected
series from the LIST of January 1912 TO the LIST of Ju
y, 4o4S, anu eAhlOH the operations OF the Treasury
for the last two years. with the exception of the pre
sent quarterl IFS present condition, and its future
prospects The results deduced from them. and the
views they suggest, will now be presented in the or
der Of time, IN respect TO the different periods to which
they relate.
Receipts, Expenditures, &c QTIs42
According to The settlement Of the Treasurer,s ae
count, on the Isl day Of January, 1912 there was
10 lhe treasury s29, 6S5, Ill O9
From whch is TO be deducted as not
available
Amount deposited with
the States S29,l0l,6i49l
Balances oftru-t funds,
"a jan, lSi2 374.521 Is
2s,476, l66 90
The outstanding war
rants at the close of
the year l94l were sl3,26s 46
Total liabilities %, 2s9, 434 IS
naC.s