, 1865-09-20

7osale1pendituse.. :eN,2e9, ,ioi
ZOE 1963E'H.
huease Of the debt from July lst, 81
Receipt: from July 1T. H. 10 july ''''''''0s
1st, .................-.-...-.- ael,sa6,71
Tosalezpcndlsu,e.. solo,ai.Na
1ndsc.se Of the deb. nom July 1.t
p1se1H ,sSa 70 , Juiy IT. 1at, 1s5 sc2 ssd
1st, .--.........-............ 500, sol, 300
IT,, 1o,al l,;. ,e.psndiitSpse ai = ose 1856
auce In tic Treasury On July !, 1865 116, 500 600
Leaving about. at............+........$ Il 9lh 500 600
From these totals of ycarly expenditures It
Is seen that they Increased from ycar to year
In unequal, but with the exception of one
year, uniformly nlarging in proportions. The
increase IN 1sd2S over 1S61-Ge was two i.un-
| dred and twenty-five millions; that of 1865 u
over 1s62 g two hundred and nineteen mil
lions; md that of 1864-a5 over 1865 C4 four
hundred and ten millions. In 1SGY-H they
were nearly twice as much, and In 1886 over
two md half times as much as Id 1B6l-0aa.
In 1sG1-62 they averaged 4 little over one and
one-th1rd millions per day for 1B62GJ nearly
two millions for 1sG3-el two and a half mil
lions; and for 1856 three md one-thIrd mil
lions per day.
Much Of this 1ncFeose WAS due, rs Is well
known, to the 9enezal rise In prices brought
en- by the so-called imitation Of the volume of
the currency. But the main cause Of the
steady augmentation Of The expenses Of the
war was the great indjsputablc fact tlat fall
ure and disaster In the field and dlsscnsIons
In 1ta Sr1f ~
ton Of the edorts Of the government md Loyal
people, only spurred them on to redoub1ed
display Of unconquerablc spirit md energy,
and OF all but inexhaustible resources In men
and money. Tie offensive power Of the GOV
ernment was never greater than In the spring
Of this year, after four years Of offensive war.
At no time during the struggle were itsarnies
and fleets stronger rs to numbers, more efn-
clent as TO discipline, equipment and mobility;
better supplied with everything needed for
man and beast than at the time Of tho last and
decisive campaigns.
1t can be said, with strict truthfulness, that
tho Government did not know at any one
time during the war the precise amount re-
quircd for current demands upon the Ttcasu-
IT, and the public remained ignorant ofit un-
tn the publication Of the annual reports to,
Congress. The latter had, moreover, every
year the disagrecable experience of finding
that The predictions OF the successive secxc-
taries Of the Treasury rs to prospective ex-
igencics Of the Treasury, In one report, were
falsifed BY the statements Of amounts actual
ly expended in the next following. twas,
indeed, found altogether impossible to make,
even approximately, correct estimates. Mr.
Chase In his first annual report, In December,
1861, was compelled TO ask Congress to pro-
vide for deficiency Of sa13, ,oo4 ,4a7 over Lis
estimates Of s31s, ,519, ,5s1 for the fiscal year
1862. In December, 1862, he was Obliged 10
acknowledge deficiency Of $376, ,912, SIT over
his estimates OF seaa 3s8 1885, for the fiscal year
166s8s. In December, 1868, there was anoth-
or deficiency reported, but a slight one. The
estimates made at the same time werc found
bY Atr. Fessendcn to be too Ion. Had AIr.
Fesenden continued In office long enough to
make another annual report, he would have
been Obliged to confess to like misealculation,
his estimates for The expenditures for the year
ending July 1st, 1865, having been but 1885,
729135. Il should be observed, however, that
the Treasury estimates ore always based upon