Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1866-12-07
0glo State;sj,nralrt,.. /.
THE TREASURY DEPARTMENT.
Report Of Secretary McCuIIOeh.

rDecreAse of the Public Debt-Hnl-
pOrtanG datIOnS--IHe-
ductiOn of Taxes-The Process of
RI sumption of Specie Payments
Modification of the TariG--Ehe
National Banl6s-New Funding
Scheme Recommended.
The annual report Of Hon. Hugh MeCul-
loch, Secretary Of the Treasury, on the
state OF the national finances, Is paper of
such paramount Importance, discussing so
many subjects of vital consideration and
practical interest to the people at large,
that more than ordinary attention Is given
to its statements and recommendations.
The subjects treated are ably and vigorous
ly handled, and the report is, altogether, q
most luminous state paper. r,-I. e...t..,...
,s TIE REPORT. ..f.
The Secretary opens his statement with
an admission of the widely different result
from his estimates made last December to
Congress for the three quarters of the fiscal
year ending June 30, 1866. Then he calcu-
lated that the national expenditures to the
end of the last fiscal year would exceed the
receipts by $1l2l949H; but, instead of
that, the receipts exceeded the estimates
$50, ,905, and the expenditures fell short
of the estimates $3.50 529, 235. The actual
receipts, including cash balance of $67, 1851
5l5, were $462, ,564, APO, and the actual ex
penditures $2S4, 4,324227; excess of receipts
over expenditures for the last three quar-
ters Of 1865, $17S,A0,l03. -.s
RECEIPTS AND EXPENDITURES.
The receipts and expenditures for the fis-
cal year ending June 30Lh, 1866, were as
follows: Total receipts from loans customs,
taxes, revenues, &c, were $l,273, $50, 2l5.
Total expenditures, including 1920, ,32l,725
for redemption of public debt, l,l4l,072,-
666, leaving balance in the treasury, July
Ist, 1886, of $132,SS1 $40. The receipts up
to June Both, 1866, from loans were $7l2,-
S5l. .553; from customs $l79 046 65l.5 .5S; from
lands 1865 OBJ Oh; from direct tax $l,974,-
754.l2; from internal revenue 5000, 226,-
Sl342; from miscellaneous sources $67, 49,
3699l. The expenditures include: Re-
demption of public debt 1920, 1921, 1851;
for the civil service $4l, ,05G, 96l 81; for pen
sions and Indians $lS,S52,4l6.9l; for the
War Department $2S4 449, 70l 80; for the
Navy Department $43 1874, 1852; for in
terest on the public debt $l33,067,7 60.
The receipts for the quarter ending Sept.
80, 1866, including $l740ll,622 from loans,
were $465, ,460,557 and expenditures $323,-
OH, ,76S, leaving a balance in the treasury
LIST October, 1866, of $l42, ,4197S9. 1 d
ia DECREASE OF THE NATIONAL DEBT.
The following statement exhibits the
items of increase and decrease of the pub
lie debt from the highest point, August
81, 1865, to October 81, 1866:
Amount of public
debt Aug. 81. 1S65,as
per statement. 81 845, ,0O7 ,620 SO
Amount fold funded Ia asa.
and unfunded debt ll4.ll5 48
S2,s46624,74s "a
Amt cash in Treasury SS.!ls,O55 l3
Amount of public debt Aug. 81, 1865.
6iless cash in Treasury. 757, ,s03 686 OIL
Amt Of public debt
October 31st, 1866, as
per statement. 81, ,6Sl 633 ,O66 "a
Amount Of old funded
and unfunded debt 1l4,ll5 4S
$2,6Sl. ISL ,0s1 80
Am'toash in Treasury, 13B,3!esoO 90
oc JoIt