The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1862-12-16

while the estimate anticipated public
debt on the 3Oth Of June, 1862. of S5l7,-
372, 80G 93, its actual amount on that
day WA, &5l4, 21I ,371 02. This amount,
Of ccurse, does not include unsscertained
claims, but only that debt the evidences
of which exist in the Treasury, upon its
tbooks, or in the form of acquisitions in
| favor of creditors or OF disbursing officers.
1t is not probable, however, that 1t the
date named these claims much, if 1T all,
exceeded the balance in the Treasury,
namely. SIS ,043,5 81.
But while the public debt on the LIST
Of July, 1869, did not reacl the rmour,t
anticipated BY the estimates, ihure is no
room for the pleasing hope that the re-
suits Of the current fiscal year. Or the. noxt
will exhibit a similar proportion. On the
contrary the estimate Of the public debt
on the lst Of July, 1868. heretofore sub
mitted, must now be advanced, in view
Of the unexpected increaseof expenditures
authorized and incurred or likely to be
incurred, to 81, l22 ,297, 403 "a; and on
the superstition that the war may be con-
tinued with undimished disbursements
until the Let Of July, 1864. the debt like
ly to have been then incurred must be
estimated at sl,744,685, $3.50 80.
1t has been the care of the Secretary to
reduce the cost of the debt, in the form
Of interest, to the lowest possible amount.
and it is . source Of real satisfaction to
him that he has been able, thus far, 10
conine it within very moderate limits
The first loans, being of magnitude
hitherto undreamed of 10 our market,
were necessarily made at an interest which
he regarded as high, though lenders siren
uously insisted on higher. but large
amounts are now obtained at FIVE and four
per cent, while the circulation of United
States notes constitutes practically loan
from the people to their Government with
out interest The average rate on the
whole loan is thus reduced to four and
three ffths per cent. Whether similar
result may attend future loans must be
determined partly by legislation of Con-
g,ess, partly by the conduct of the war,
and partly by the condition Of the mark
cts for money
RECEIPTS.
The statement of the actual and est
mated receipts and expenditures for the
last and the current fiscal year, in com
parison with those of the December re-
port, must undergo notifications similar
to those of the public debt. Both receipts
and expenditures for the current and
following year will be increased; the for
ner by the operators of the augmented
tariff and of the internal revenue, and the
latter by The exisencies of the wnr.
The aggregate receipts for the fiscal
| year 1869, from all sources, including the
balance of 81. 257, 065, 80 in the T'reasu-
ry from the preceding year, were $685.
8S5, 247 06; and the aggregate expendi-
lures S570,84l,70O 25; leaving bal
ance 10 the Treasury on the let dav of
July, 1862, of Sl3.043, 54681. From
the receipts and from the expenditures
should be deducted the amounts both
received and disbursed within the year
on account permanent and temporary debt,
amounting to $4,000, 1922 90 leaving
the total receipts not applied in payment
of debt $487, 78s,324 81, and the total of
current disbursements $474,744,778 l6.
AS the amount of debt, 90 also the amount
of the expenditures for the last year falls
short Of the estimates.
The actual receipts for the first quar-
ter of the fiscal year 1868, commencing
July lst, 1862, appear from the books
Of the Treasury; the receipt. for the
three remaining quarters eau only be es-
tlmated ON the Laais of appropriations
made and asked for by the several de-
partments. They have been and are esti-
mated as follows
For the Isl quarter the actual receipts from GUS
toms, internal duties. direct tax lands, and al
other sources, excluding loans and Including the
balance from last year of el3,043,546 81
were &ST POS 52g OF
For the I'd, Sd and 4sh quarters, the
estimated receipts from all sources
l4S, 1886 So
Making the total of actual and esti-