Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1865-12-12

I
applied 10 pay
ment OF public
debt..-...........-..... lSs,io9ie5 y
Receipts from cusz
Receipts nom lands $3.50 8
Receipts from di-
rect taX.-.............. 81, III 20
1 Receipts rom in
ternal reveuue.... 98,6lS,SS5 6j
Receipts fTom mis-
-l le2lsd-2Oo 8
Total..........................-... siio,2o,77O z
\ EXPENDITURES.
I For the redemption
i OF public debt....----slsss, 80 lb3 IS
I For civil Service....-.- 1851 400 %
Z For pensions and In
+ For War Department 1858 ~ 81
4 For Navy Depart
I For interest ON pub
--- ss7aOcs24 So
Leaving a balance in the Treasury
on the lst October, 1860, oL.-.-- S6T, ,l565l5 ~
The Secretary estimates that the re-
ceipts for the remaining three-quarters of
the year ending June 30, 1866, will be as
/ follows:
balance in Treasury Oct. l. Sl5-.. So, ,i5S6l5 a
Receipts from Gus
l toms. siOO,OUp,tsO %
Receipts from lands. 50O,OO0 %
nsi revenue. -. I75,OOO,OOO 90
Receipts from miscel-
ianeous sources. 100000 90
so55oo,ooo %
Total sy72,G5S SIS a
The expenditures, according to the es-
Inmates, will be:
For the civil ser
For pensions ana
indians - I2,25S,7sOsI
partineiii :. - - 907.7ss,75Oa
J % i,Id fti@ i..ys Siass W. - s5,Oo0oOObO
For interest on
p'O'i' D' ''''''''' --------c- = 4si,s5s, ,Ie2 81
deficiency sII2Is4,9I7 %
The receipts for the year ending June
thirtieth, eighteen hundred and sixty
seven, are estimated as follows:
From customs....-.---. slOOOOOOOO 90
From internal reve- --
From lands-..-.....---. l,OO0000 70
From miscellaneous
sources .............---.- 2t,pJJUOO 20
The expenditures, according to the es-
Inmates, will be:
Forthe civil service sI2,IS5599 II
For pensions and In
For the War Depart
m ment.-.''.... siit va, Dep-.. 1882, ,i57 20
For the interest ON
the public debt l4l ,542O6o 80 $500, 90
Leaving a surplus Of estimated
rec sipts over estimated eNpendi- 80 81,
lures of ........-.-.....-.. Sill ,6S2, SIS II
The debt of the United States was in
creased during the fiscal year ending
June thirtieth, eighteen hundred and
sixty-five, S94l ,902, 537.0 .04, and during the
first qvarter of the present fiscal year
SI3S, 773, ,097 %. The Secretary has how
ever, the satisfaction of being abletO state
that during the months of September and
October the public debt was diminished
to the amount of about Sl3 100000.
If the expenditures for the remaining
three quarters of the present fiscal year
shall equal the estimates, there will be a
deficiency, to be provided for by loans, Of
SIP, 1874, ,947 20, TO which must be added
$50, $50, ,90l for the five per cent. Treasury
notes part of the public debt, which be-
oDme due the present month, and are now
being paid out of monies in the Treas
ury, and all other payments which may
| be made on the public debt.
The heavy expenditures of the last tis-
| cal wear, and of the months of July and
| August Of the present fiscal year, are the
result of the gigantic scale ON which the
war was prosecuted during portion Of this
period, and the payment Of the officers
and men mustered out of the service.
The large estimates of the War Depart
ment for the rest Of the year are for the
payment of troops which are to remain
| in the service, and of those which are to
be discharged, and for closingup existing
balances.
The statement of the probable receipts
and expenditures for the next fiscal year
is. in the highest degree satisfactory.
According TO estimates which are believed
| to he reliable, the receipts Of that year
will be sufficient to pay all current ex-
| penses Of the Government, the interest
! on the public debt, and leave the hand
some balance of Sill, ,GS2, SIS II t. be az
piled toward the payment of the debt
/ itself
BY the statement of the public debt ON
/ the thirty-first of October, il appears
! that, besides the compound interest the
/ United States, and the fractional nOtes,
/ the past-due debt amounted to 81 1913,
92O 90, the debt due in 1865 and 1866 to
| slS7, ,549, ,646 46, the debt due in 1867 and
and 1858 TO Ss4S, ,323, ,59l so.
During the month Of October about
| $50 600, 900 ofthe compound interest notes
were funded in five-twenty six per cent.
| bonds under the provisions OF the act. of
| March 3, 1865.
| The Secretary would be gratified if the
Treasury could be put at once in a eondi-
| tion to obviate the necessity of issuing
! any more certificates Of Indebtedness, or
raising money by any kind of temporary
| loans; but he may, for a short period he
obliged to avail himself of any means
now authorized bv law for meeting cur
rent expenses and OtEer proper demands
upon the Treasury.
Ofthe debt falling due in 1867 and 1858,
$3.50, 900, 600 consist Of seven-thirty notes.
| Tf may be regarded as premature to fund
any considerable amount of these notes
within the next year but in view Of the
! fact that they are convertible into bonds
only at the pleasure of the holders, it
| will be evidently prudent for Congress to
authorize the Secretary, whenever it can
be advantageOusly done, to fund them in
advance Of their maturity.
SELLING BONDS.
The Secretary has already recon-
mended that he be authorized to sell
bonds of the United States, bearing in
terest at a rate not exceeding six per
cent, for the purpose ofretiring Treasury
notes and United states notes. de fur
ther recommends that he be authorized
to sell, in his discretion, bonds of similar
character, to meet any deficiency for the
present fiscal year, to reduce the tenn
porsry loan by such an amount as he
may deem advisable, to pay the eertii-
Gates Of Indebtedness as they mature,
and also to take up any portion OF
the debt maturing prior to eigh-
teen hundred and sixty-nine that
can be advantageously retired. II
lis not probable that it will be
advisable, even if it could be
J done without pressing them upon the
/, market, to sell much larger amount Of
bonds within the present or next fiscal
!, wear than will be necessary to meet any
deficiency of the Treasury, to pay the
past, due and maturing obligations of the
Goverhment, and part ofthe temporary
lpan, and TO retire an amount Of the COM
pound interest notes and United States
notes sufficient to bring back the business