, 1863-12-11
REPORT OF THE SECRETARY
OF the TREASURY,

WASHINGTON. Dec 10L-Thc following is 4
e.aanssa ~ ~ @ so.rats-r - t1,a TroassD,s - =
9snopa'o VI aa1 "e~'s'345 o1 LIZ 9as7'o''
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cress the report of the state of the finances,
fho secro+,rv or +bo T-nasr-r has -r-,o,, .ot
~ - 100 ,1"en BAY
le1actlon IN oeln5 an1e 10 say that the opcfa-
lions of the Department entrusted to Ills
charge hare been attended during the last
" ~ e~.7'
than he Eent9red to anticipate at It's begin
n1ns' notWiihslandlnS tne aug ouereo bg
INC aaaialonM .n 3.s issue o. Gn1teq States no.es.
gnoer me 1o14t 1esolunon oi Janua1g, ,tne
Secretary Ind found 1t impossible to present
Gongrcss lnthc amount ot unpaid acquisitions.
ihose Wn1ch were unsatsned at the pegtn'
nlng OF the session, we're 1ndeet discharged1
and sarge euma were appnea 10 new demands
lof current osonfsemcnts, opt INC aggregate
OF 9lsDuIsensnts ~ sr remaining nSeessa1ny IN,
enor1s g ptesea. 1ntl u leaeaea' E a., a. 81 1ne
G4ose e. oa INC sess!on, tas snM oi ~ ,ios:
4ne Aean act aug tae Nesaon2A nanSlng Acs
were 1ouoMed oy an 1mmea1ate revival o.
pannc credit success - quite oe{ond ant1cl-
palion cIo"neo ~ a eilol1s OF INC aecfetafg 20
me soan n au Ropt9 o. me
y;
1he result was 1hat Eithfn tWo montns
Mter the aaJonrnment oi congress re Wnoie
1nass OF suspended 1eqolsllons nad oecn say
listed, al cnrTent demands promptly met,
ahe snd Ssx1 the Of
the fiscal rear. no cmba.rassments attended
me adminisltatlon o. t1e nnhnces except
those which afe nsepafaole from vast e1pea-
aMares. !. :. .g NoI.Mltnsianalng tnese e3penal.
tases II Is gIatiyang 70 oe ape 70 state taat
curing tne last J tar t1e toLat qispursenents
did not greatly exceed, while the increase Of
The public debt did not equal estimates I'd
mlttea 70 congress oy the secretary at INC
last session; ,
Ihas whle II vas snen ne, estima.ed s11 1hat t1c
pubic dett % Ga IL Jaae ne, vdn, ieo3 would reach
On that day was 81 ,oos, 1ga, ,1s1, and while the
@a1sbnfssmen1s @ @ 1or ING year were 81 e31imaIea az a. az
SgsS Ss3s Sao,l- tse feai tota1 "as sn4,.ey,s5,
WINE ING fecelPts rom other oralnar!
sources OF revenue mus cioseiy correspond
WILD tne esumales OF !aIge1F exceed 1htln.
@ Inc Ieee1Rts IRON II the tt1I.a internal revenue
have alone disappointed expectation, and e.
peI1ence has demonstrated It's error.
!he eetana1e Was S52,aoo. .sS5, "nlle inc
actual receipts were $S7, ,G40,7 ,787: A part Of
tie deficiency may be attributed to the I'M
perfect execution OF the law, and part to
the changes made In It by Congress after the
had neither cause operated to reduce the re-
ccipts that the revenue from this source
would hare exceeded hau the es1imateo
amount: 49,,
It Is clear TINT the law. unless materially
anenaea, VII nor pfoouce Inc revenue eA-
peetea from H. A., e..~o.o.7,n.. ~
limit to which loan II the form Of certttIe2tes 5
Of Indebtedness could be carried at sloo,99,-
~ ~ eApclacnee R ~ nas suoHn II eaIl oG caIrleu io
s!oO,QoVWo, and lnat lis natu1a Hmlt ia
ABOUT that sum:
+hcea snc ~. 81 "s s1aS -, m ofd
ne nnsate, therefore. to rely On any su9stan-
tial Increase OF loan IN that form;
IT lne uaae pss7Slloeu ~ ~ ~ ~ ~ tssns go "
thinEs X s1essu iu ne@nsd;eat 1 t o1 sncreasc
the amount, sufficient circulation having been
now Borrow ike any other employer Of cap.
cor come Wi1l sn1nly' and reiy for the credit
which will sesnre advantageous loans upon
though not Immediately, available capital,
and satisfactory provision for punctual pay
ment Of accrninE Interests and ultimatc re-
imtursement Of the principal. i
To subscriptions for the remaining 5-2Vs
and deposits for temporary loans, therefore,
Of means for the service Of the current year,
except from negotiations under the act OF
the list SESSION. The sums to be looked for
from these two sources have already been
stated. md tic amount to s1o6, ,05o, COO.
# this aggregate be deducted from the
amount to be provided by loans for the last
shown 10 BE- sS5a, $50, there VIII remain
neootiotfons nndcr fhe net Of 1ast Session
and under some like act must be prorieded