New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-12-06
REPORT OF THE SECRETARY OF
TSrE TREASURY.

REPORT OF THE SECRETARY OF
TIE TREASURY.
We devote much of our space, this morning,
to the Treasury Report of Mr.. Secretary
Chase. 1t is presented without any abbreyiation,
as the nature of its details is such that they
do not yield readily to an abstract statement
We have added heads to the subjects, for the
convenience Of the reader. At this time. when
the most expensive army in the world is TO be
provided for, when we are within six months
of having, at present rates, Eleven Hundred
Millions of debt, when reform in the nature
of our bank circulation is under advisal, when
new forms and rates of taxation are about TO
be levied, aud when the public should be as
sured that they have the means TO crush the
rebellion, Mr.. Chase's Report viii be read
with an interest probably exceeding that of
any similar document uttered since the forma-
ton of the Government.
We shall endeavOr now, in addition TO print
ing it in full, to present some leading points
in very brief synoptical form of Mr.. Secre-
tary Chase's very able document.
The Secretary explains why change of cir
cumstances may cause estimates TO exceed ex-
penditures-such as the great increase of the
army. Disbursements, however, up to the
30th june 1862, were almost precisely &C.
cording to the Secretary last December esti-
mate: the disbursements being, in round num-
bers 5l4 million dollars ard the estimates 81
millions. The estimate of debt TO be incurred
up TO the commencement of July, 1868, is over
eleven hundred millions and if the war be
continued in full force till lst of July 1864,
the debt likely TO have been then incurred is
set down at seventeen hundred and fifty -four
millions.
The Secretary is happy in the statement
which he can make in regard to the reduction
of the cost of the debt, or the interest. The
first loans being of such unusual magnitude
were handsomely paid for; but large amounts
are now obtained at from four to five per
cent, while the circulation Of the United States
continues practically loan from the people to
the Government, without interest The average
rate of loans is thus reduced to AZ per cent.
Both receipts and expenditures will be ill.,
creased for the current and following year
Aggregate receipts Of the fiscal year 1862
1888, ,247 06; expenditures, $50 94l 200
%: balance in Treasury July, 1862, SI3, Oi3.-
$40 81. The actual receipts Of the first quar-
ter Of the fiscal year Of 1868, commencing
August /, 1862, are noted on the Treasury
books; the other three quarters must be esti-
mated. The one is actually S37, 2O-, 52g ";
the Others estimated $l43,2s6, $40 So. Loans
during first quarter, Sill 32l OF; aud
during Oct. and Nov, $35, $40, 595 90. Loans
obtained up to LIST Dec, $500, lZ9,71 OF, and
to be realized probably under existing laws,
in addition, Sl3l, O2l, l97 35--making the
total of receipts under actual and anticipated
lave, ssh, 6l6 $50 So. For the first quarter
Of the fiscal year 1863, the actual expenditures
were Sill, OS4,4l7 40. For tie second, third,
and fourth quarters estimated expenditures, nm
der existing appropriations, including interest
on public debt, are SOP s43, ell ~. Estimates
OF deficiencies to be met, SlO9, 4I3,032 80.
Making the whole amount actually expended or
estimated, $500, SAC, 32l a.. Estimates, for
payment CT public debt during the year, of
purposes Of $685., 563. III 62. II is usual TO
make an estimate large enough to cover all
possible requirements under IT until Session
Of Congress shall afford an opportunity Of pro-
yiding for any deficiencies that may thereafter
occur. Hence estimates always largely exceed
expenditures. Tie appropriations unexpended,
therefore, will lessen the above sum by $780,
OeO, 600, making it S79e, 555,777 G2. But Of
this sum, as already stated, there has been re-
ceved and may be expected of customs, ETC.,
$50, 495, 335 co; and loans, S33l, l5O,9l4 80.
Aggregate, to be deducted from actual and al
ticipated expenditure, S5ll ,646,259 SO; and
leaving to be provided for the cGrrent year,
$z76,9l2,5 17 90. The Secretary next offers
ths cOnjectural estimates Of the fiscal year 1854,
commencing lst Of July next 3 Expenditures:
ss45, 100000. Receipts customs, taxes, SC,
81. 100000. Leaving amount to be 9ro'idcd