The Congressional Globe, Volume 13, Part 2: Twenty-Eighth Congress, First Session Page: 5
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Dec. 1843.
APPENDIX TO THE CONGRESSIONAL GLOBE.
5
28th Cong 1st Sess.
Report of the Secretary of the Treasury.
Senate and H. of Reps.
They have accordingly been prepared, and are herein
presented.
The estimates for the current fiscal year, com-
mencing 1st of July, 1843, were made in Decem-
ber, 1842—so much in advance of the time to which
they related, that they were necessarily conjectural,
to a great extent. They can now be rendered more
exact, by a knowledge of the true state of the treas-
ury at the commencement of the fiscal year, and by
a better acquaintance with the necessities of the va-
rious branches of the public service. Accordingly,
the different departments have been requested to re-
vise their respective estimates. (Jpon the informa-
tion thus obtained, a corrected account of the actual
and estimated receipts and expenditures of the cur-
rent fiscal year, commencing the 1st of July lust, has
also been presented, and is now submitted.
In order to fill the chasm in the accounts between
the 31st day of December, 1842, and the 1st day of
July, 1843, caused by the change in the fiscal year,
and to ascertain the true balance m the treasury on
the 1st July, 1843, it becomes necessary to exhibit
a statement of the receipts and expenditures during
that time; which is accordingly presented herein, ft
will be seen that the expenditures exceeded, and the
receipts fell short of, the estimates for that period.
An account of the actual receipts and expenditures
of the calendar year 1842 is also annexed to this re-
port—a part of them only having been hitherto sub-
mitted to Congress—in which the expenditures will
be found classed under genera] yet distinctive heads
of appropriation, so as to exhibit briefly and intel-
ligibly the subjects to which they have been applied.
It is an abstract of the warrants issued to the
Treasurerpursuantto the appropriations by Congress
and paid by him. It does not embrace the trust
funds or indemnities, although it does include what
are usually called outstanding warrants, which, in
. fact, are not outstanding, but are merely unsettled,
having been paid by the Treasurerto the parties who
presented* them, by checks and drafts on the public
depositories and receivers, but which had not been
returned at the time of the settlement of his ac-
counts; although most, if not all of tliem, had in
fact been paid.
The statements of the receipts and expenditures
for the half year between the 1st of January and
the 1st of July, 1843, and for the first quarter of
the new fiscal year, are also founded upon the en-
tries in the books of the Register of the treasury,
and make no distinction between warrants settled
or unsettled. These statements, therefore, show ac-
curately the payments that have been made accord-
ing to the appropriations by Congress, although all
the evidences of those disbursements required by
the auditing officers may not have reached then-
offices.
This mode of exhibiting the state of the treasury
has not always been observed. The money appa-
rently m the hands of the Treasurer has sometimes
been so stated as to leave the impression that it v. as
an available balance. The average of outstanding
warrants, as they are called, for a series of yearn,
has been deducted from the apparent balance, instead
of deducting the exact amount that remained unset-
tled. But when a warrant has been issued to the
Treasurer, and paid by him, the amount is effectually
disposed of, and cannot be reached by Congress,
whether thet Treasurer's account of such payment
is settled or not. The mode now pursued, there-
fore, is deemed the proper one to exhibit the amount
ill the treasury subject to appropriation. This ex-
planation is made to account for discrepancies that
may appear between the statements and tables here-
with presented, and those m former reports.
These accounts and estimates present a connected
series from the 1st of January, 1842, to the 1st of
July, 1845, and exhibit the operations of the treas-
ury for the last two years, (with the exception of
the present quarter,) its present condition, and its
future prospects. The results deduced from them,
and the views they suggest, will now be presented
in the order of time in respect to the different periods
to which they relate.
Receipts, Expenditures, &-c., o/1842.
According to the settlement of the Treasurer's ac-
counts, on the 1st day of January, 1842, there
was in the treasury - - §28,685,111 08
From which is to be deduct d as not
available;
Amount deposited with the States,
$28,101,644 91
Balances of trust
funds, 1st Janua-
ry, 1842 - - 374,521 18
The outstanding wai-
rants at the close
of the year 1841,
28,476,166 09
813,268 46
Total liabilities - 29,289,434 55
Deficiency of means to meet war-
rants .... 604,323 47
$29,289,434 55
Instead of any available balance in the treasury on
the 1st of January, 1842, there was, therefore,
a deficiency to meet the outstanding warrants of
$604,323 47.
From the acccompanying statement, it ap-
pears that the receipts into the treasury during the
year 1842, exclusive of trust funds, and of the avails
of treasury notes and loans, were §19,643,966 40
The expenditures of the same year,
exclusive of the sums paid on
the redemption of treasury notes
and interest on them, and on re-
cent loans, and on account of the
old public debt, was - - 23,921,037 60
The excess of expenditures over
revenue was - 4,277,071 20
The amount paid on account of the
old public debt, treasury notes,
and interest on them and on
loans, was ... 8,477,868 94
To supply the deficiency in the
reaenue, and to provide means
for the redemption of treasury
notes, others were issued and,
loans obtained to the amount of §14,808,735 G4
And a balance was thus left in the
treasury on the 1st of January,
1843, exclusive ofdeposites with
the States, indemnities, and trust
funds, mid deducting outstand-
ing warrants, subject to appro- .
priation, of 1,449,472 03
Receipts, expenditures, £,r., of the first six months of
1843.
The balance in the treasury on the
1st January, 1843, exclusive of
deposites with States, trust funds,
and outstanding warrants, was - £1,449,472 03
By the accompanying statement, it
appears that the receipts between
the 1st of January and 1st of Ju-
ly, 1843, exclusive of the avails
of treasury notes and loams, were 8,065,325 46
And the expenditures, exclusive of
the sums paid on account of the
public debt - 10,698,390 83
Excess of expenditures over rev-
enue .... 2,633,065 37
The amount paid for redemption of
treasury notes, and for principal
and interest on the public debt,
was .... 861.607 47
To supply the deficiency, and to
provide means for the redemption
of treasury notes, others were is-
sued, and loans obtained to the
amount of 5,545,T08 36
And a loan was made under the act
of March 3, 1843. of seven mil-
lions, of which nearly the whole
was received during the quarter , 6,934,000 00
Which left a balance on the 1st of
July, 1843, of - - - 10,434.507 55
This large apparent balance arises from the cir-
cumstance, that while nearly the whole proceeds of
the seven millions loan were paid in during the half
year, the amount of notes redeemed by those pro-
ceeds does not appear in the accounts of that period,
but is contained m those of the next quarter. The
real balance, excluding the loan and the notes sub-
sequently redeemed, was about «,3.37(1,000.
Revised estimate of the receipts and expenditures for the
fiscal year, commencing July 1, 1843.
The accounts of die first quarter of the present
fiscal year—that is, from July ls oSeptember_30tli,
1843—exhibit the following results;
RECEIPTS.
From customs ... $6,132,272 09
Sales of public lands - - 388,870 22
Miscellaneous and incidental - 26,871 43
Total revenue received - 6,548,018 74
Residue of subscription to loan of-
seven millions ... €6,000 00
Total .... 6,614,013 74
Balance in the treasury 1st July,
1843 .... 10,434,507 55
Total means - -- - 17,048,521 29
EXPENDITURES*
Civil, miscellaneous, and foreign in-
tercourse ... |l ,016,257 17
Army proper - -. - 858,785 15
Fortifications, ordnance, arming mi-
litia, &c. ... 610,400 90
Indian Department ... 880,171 88
Pensions - 806,800 04
Naval establishment - - 2,049,387 36
Interest, &c., on public debt - 95,555 48
Total, exclusive of redemption of
treasury notes and interest - 6,317,357 98;
Paid on redemption of treasury notes
and interest ... 6,902,031 54
%
Total payments for the quarter, 13,219,389 52
Leaving a balance on the 1st Octo
ber, i843, of
3,829,131 77
Estimates for the remaining three quarters of the fiscal
year.
Balance at the end of the first quar-*
ter, (30th September, 1843) - $3,829,131 7?
Estimated receipts, 2d quarter—
from customs - 3,100,000
from lands - 537,000
Estimated receipts, 3d
quarter—
from customs -. 4,600,000
from lands - 500,000
Estimated receipts, 4th
quarter—
from customs - 3,600,000
from lands - 520,000
Miscellaneous - 50,000
— 12,907,000 00
Total means
#16,736,131 77
Of the specific appropriations already made by law,
applicable to the service of the last and the cur-
rent fiscal year, there remains unexpend-
ed $19,509,635 89
Of this balance there
will not be required
to be expended
during the year,
but will be required
during the next
year, for the civil
list, foreign inter-
course, and miscel-
laneous - _ - 352,387 41
Military establish-
ment - - 2,255,638 65
And which will
not be required
and may be car-
ried to the sur-
plus fund
2,608,026 06
504,940 73
3,112,966 79
Leaving of the specific appropria-
tions, which, according to the
data furnished by the respective
departments, will be required
during the year - - 16,396,669 00
To which is to be added amount of
permanent and indefinite appro
priations, which will be required 2,577,713 88
Additional appropriations nec«n
ry - g i S 289,012 98
f19,263,395 94
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United States. Congress. The Congressional Globe, Volume 13, Part 2: Twenty-Eighth Congress, First Session, book, 1844; Washington D.C.. (https://texashistory.unt.edu/ark:/67531/metapth2368/m1/15/: accessed March 29, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.