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REPORT,
Os the Secretary of the Treasury of the United States,
Communicated to Congmets, November 6, 1807.
Tr. r, eiFrnre to th r /firfceticnS of the act supplementary to the act intituled, “An act to esta-
Sl ish the Treasury I>< pattment,” the Secretary of the Treasury respectfully submits the follow
ing Report and Estimates :
REVENUE AND RECEIPTS.
The nett revenue arising from duties on merchandise and tonnage which accrued during the year
1/405, amounted to - -- -- -- -- - $14,135,138
And that which accrued during the year 1 £O6, amounted, as will appear by the state
ment (A.) to - -- -- -- -- -- - 16,57 6,454
The same revenue, after deducting that portion which arose from the duty on salt,
and from the additional duties constituting the Mediterranean fund, amounted dur
ing the year 1803, to 12,520,532
And, during the year 1806, to--------- - 14,809,738
It is ascertained that the nett revenue which has accrued during the three first quarters of the
year 1807, exceeds that of the corresponding quarters of the year 1806 ; and that branch of the
revenue may, ej.clusi. i ly of the duty on salt, and of tin: Mcditcruncan fund, both of which expire
on the Ist day of January next, Ire safely e stimated for the present, and if no change takes place
ti the relations of the United States with foreign nations, at fourteen millions of dollars.
The*statement (H.) exhibits, in detail, the several species of merchandise and other sources,
from which the revenue was collected during the year 1806.
it appears by the staff incut (U.) that the sales of the public lands have, during the year ending
on the 30th September, 11107, exceeded 284,000 acres. Some returns are not yet received : and
the proceeds of sales in the Mississippi Territory being, after deducting the survey ing and other
incidental cxpenccs, appropriated in the first place to the pay ment of a sum of 1,250,000 dollars
to the state of Georgia, have not been included, but are distinctly stated. The actual payments
by purchasers have, during the same period, exceeded 680,000 dollars ; end the receipts into the
treasury from that source may, after deducting charges and the five per cent, reserved for roads,
be estimated for the eusning vear, at sGo,ooodollars.
The recepts arising from the permanent revenue of the United States may, therefore,’Without
including the dutiesou postage and other incidental branches, be computed, for the vear 1808,
at $14,500,000
And the pay ments into the treasury (luring the same year, on account of the salt and
Mediterranean duties previously accrued, are estimated at one million three Hundred
thousand dollars - -------- - 1,300,000
Making in the whole an aggregate of fifteen millions eight hundred thousand dollars, $15,800,000
LAST QUARTKR OF TII K YEAR 1807. v
The balance in the treasury wh'ch, on the 30th day of September, 1806, amounted to 5,496,969
dollars, 77 cents, did, on the doth day of September, 1807, amount to $8,539,0U0
The receipts into the treasury from the Ist of October to the 31st day of December
1807, are estimated at - -- -- -- -- -- 4,000,000
$12,5 30,000
The expcnces during the same period for all objects whatever, the public debt excepted, und in
cluding 086,076 doilars for the extraordinary eApcmmurrs ot the Navj Department, of w hich
the estimate has been transmitted, arc est.n.alcd at ----- $1,700,000
The ordinary payments on account otviie puolic debt, including the provision for the
interest on the Louisiana and Dutch debt, totlie ast oi July, 1808, are estimated at 1,700,000
A further sum of about 1,500,000 dollars should also be paid during this quarter, in
order to complete the annual appropriation oi eight millions oi dollars. 11 the whole ot
♦his sum, which is applicable to the purchase ot eight per cent, stock, cannot lie ex
pended this year, the unexpended balance will form an additional expenditure for the
year 1808, charging however the whole to this quarter. ----- 1,500,000
Making an aggregate of 4,900,000 dollars, and will leave in the Treasury, at the
close of the year, a balance ol about seven millions six hundred thousand dollars, 7,630,000
$13,530,000
EXPENDITURES OF THE YEAR 1808.
The permanent cxpenccs, calculated on a j , ice establishment, ace estimated at
11.600,1)00 dollars, and consist ol the following items, vu.
1. For tlu civil department, and all domestic expcnces of a civil nature, including
invalid pensions, the light house and mint tstabLshi cents, the cxpenccs of surveying
public lands and sea coasts, tile hfth instalment ot tile lo.ui due to Maryland, and a
join of 100,090 dollars to meet saeh miscellaneous appropriations, not included m the
Estimates, as uiav Ini made by Congress, - -- -- -- - 1,100,000
1 or expenceS incident to the intercourse with foreign nations, including the per
unuieiit appropriation tor Algiers, - -- -- -* - - 200,000
b. For the military and Indian department, including trading houses, anil the perma
nent appropriation for certain Indian tribes, 1,280,000
4. For the naval i stabhshment, - -- - - -- - - 1,029,909
5. The annual appropriation . f eight millions of dollars for the payment of the prin
j,,,l and interest ot the public dcOl ; of which sum not more than 3,409,999 dollars
will for the year 1608 be applicable to the payment ol interest, - 8-,000,000
$1i,b09,9U9
To the permanent expcnces must be added for the year 1808, a stun of about 800,000
do.lai s, necessan in addition to the annual appropriation oi eight millions if dollars,
to compkio, on the Ist of January, 1809, the ceniiOursenienc ot eight per cent, stoex., SOO.OOO
And for pay tug the balance of American claims, assumed by the T rencu com enuou, £90,900
Making altogether 12,600,000 dollars for the expcnces of that year, - - si£,ooo,uoq
Flic receipts of that y ear Having been estimated at $15,800,009
And the probable balance in the T reasury on tnc Ist of January next, at 7,080,009
Making altogether ------- - 23,480,000
Would therefore probably leave in the Treasury on the first of January, 1309, a ba
lance of near eleven millions ot dollars, ------ - - 10,830;000
$20,4J0,0uU
PUBLIC DEBT.
It appears by the statement (D.) that the payments on account of the principal of tin* public
debt, hate, during the > ear ending the :>oih day ol tseptember, 18u7, exceeded 4,300,000 dollars ;
ii. thing the total ot public deet reiuiuurseit trom the Ist ot April, 1801, totlie Ist of October, 1807,
about £5,880,000 dollars, exclusively of more thun six millions, which have been paid during the
runic period, in conformity with the prov isions ot the treaty and convention witn Great Britain,
ttud of the Louisiana convention.
I if the twclv e millions of dollars, w hich, according to the proceeding estimates, may be paid on
urc aunt of the pubFc debt, between the 50th September, 1807, and me Ist January, 1809, about
eight millions w ill be on account of the principal, it must, however, be observed, that tlu; unas
certained result of the proposition made to the public creditors for the modification of the debt,
may ufleet the amount po . able during the y ear 1808, on account of both principal and interest.
On the Ist day of January, 1809, tile principal of thirdebt'will, if the proposed modincation be
uot assented to by the public creditors, amount to i.ear fifty-seven millions and rive hundred thou
sand di.Burs. The subsequent annual payments thereon, on account of principal and interest,
will not, extensively ot occasional j urchases, exceed 4,800,090 dollars: And the whole of the
debt, the nineteen millions ot three per cent, stock only excepted, will be reimbursed in sixteen
J e it's.
\ general subscription would reduce the capital to about fiftv-onc millions of dollars. The
payments would amount to eight millions of dollars annually, during six years, and average Jess
than three millions during the seven following, at tile end of which period the whole debt would
be extinguished.
Au annual unappropriated surplus of at least three millions of dollars, may henceforth lx* relied
upon with grv.it confidence. The receipts of the year 1808 have been estimated at 15,899,060 and
t’n expcnces at 1 .’,600,900 dollars. ‘Flic permanent revenue has been computed at 14,500,909
dollar:, and the permanent cxpenccs, predicated on an annual payment of eight millions ot dollars
vui account of the debt, have been stated at 11,690.999 dollars ; and as this would, if no nioditica
tmtiol the to lit should take place, be reduced to less than 8,599,000, the annual surplus would
*htn amount to six millions us dollars. Nor are the seven millions and an half of dollars, which
w ill remain in the treasury at t lie end of the present v ear, included in the calculation.
\\ hut portion <4 that surplus m.iv lie wanted tor necessary measures oi security and defence ;
■ hat portion should be applied to internal improvements, which, whilst increasing and diffusing
Tie u:it> 1.11 v eaitli, w ill strengthen the bonds of union, are subjects w hich do not fall wit*t:n the
province of the Treasury Department ; but it is not impossible, that after making ample provi
• av for both those objects considerable surpluses, and which can no longer be applied to the re
demption of the debt, may still accumulate in the Treasure.
1 he previous a.cumulation of treasure in time of peace might, in a great degree, defray theex
'raciduiary expcnces of w ar, and diminish the necessity of either loans or additional taxi*... It
v ould prev idi. during \ ertods <4 prosperity, for those adv erse events to w hich even nation is ex
|) sed, in.te dol mcrcasuigthe burdens ot the people, at a time when they are least able to bear
them, or ot 1 I.pairing by anticipations then-sources of ensuing generations ; and the public monies
->f the United States n -tinting locked up and withdrawn from the general circulation, but 011 the
1 uitrary -deposited in banks, and continuing to form a part of the circulating medium, the most
mu midable ohiccuou to that s\ stem, which lias nevertheless been at times adopted with consider
aJ k success in other countries, is thereby altogether remov ed. It is also believed that the re
in w.d ot the charter of the bank of the United States may, amongst other advantages, afford togo
v. rnment :ji opportunity of obtaining interest on tjie public deposits, whenever they shall exceed
a certain amount.
should the United State*, erutrurv to their expectation and desire, he involved in a -war, it is
tv-ic cd that the Vevrpta el the year 1868 wjli not be materially affected by tlic event, inasmuch
a they trill principally arise fr.r. th>’ revert-/*
accrued din ing the present year. The amount
of outstanding bonds due by importers, after de
ducting the debentures issued ~n account of r> -
exportatir.ns, exceeds, at this time, sixteen mil
lions ot dollars. The deductions to be made
from these, on account of subsequent re-expor
tations, would, in case of war, he less than usu
al ; for exportations will then be checked, as
well a-> importations,and in proportion as there
will decrease, a greater home demand w ill be
created t<r. the stock on hand, and the necessity
of re-exporting be diminished,
It has already been stated, that the specie in
the Treasury at the end of this year, together
with the surplus of the year 1898, v ill amount
to near eleven million of dollars—a sum proba
bly adequate to meet the extraordinary expell
ees ot the war for that year. It w ill also be recol
lected, that in the estimated expeuces of the
year 1808, the reimbursement of near the mil
lions and a half ot the principal of the debt is
included. The only provision therefore which
may render any contingency necessary for the
extraordinary service of that year, in order to
cover any deficiency of revenue, or increase of
expenditure, beyond what lias been estimated,
w ill he an authority to borrow a sum equal to
that reimbursement.
T hat the revenue of the United States will,
in subsequent years, be considerably impaired,
by a war, neither can orougiit to be concealed.
It is, on the contrary, necessary, in order to be
prepared for the crisis, to take an early view of
the subject, and to examine the resources which
should be selected for supplying tiie deficiency,
and defray ing the extraordinary expellees.
There are no data from which tne extent of
the defalcation can, at this moment, be calculat
ed, or even estimated, it will be sufficient to
state, Ist. That it appears neectsary to pro
vide a revenue at least equal totlie annual ex
pellees on a peace establishment, the interest of
the existing debt, and the interest 011 the loans
which may be raised. 2d. T hat those expell
ees, together with the interest of the debt, will,
alter me year 1803, amount to a sum less than
seven million of dollars; and the re tore, that if
tlic-present revenue of 14,500,090 dollars shall
not be diminished niqre than one half bv tbe
war, it will still be adequate 10 the object, leav
ing only the interest ot a ,r loans to be provided
lor.
Whether taxes should be raised to a greater
amount, or loans ue altogetncr relied on tor de-
Iraying the expcnces of uie war is tne next sub
ject ol consideration.
Faxes are paid by the great mass of the citi
zens, and immediately hiiect almost every in
dividual ot the community. Loans art suppli
ed by capitals previously accumulated by a lew
individuals. In a country where the resources
of individuals are not generally and materially
affected by the war, 11 is practicable and wise
to raise by taxes the greater part at least 01 the
annual supplies. The credit of the nation may
also, from various circumstances, be at times
so far impaired as to leuv e 110 rt source but taxa
tion. in both respects, the situation u tne L. 6.
is totally dissimilar.
A maritime war will, in the United States, >
generally and deeply affect, whilst it continues,
Uie resources of individuals, as not only com
mercial profits will be curtailed, but principally
because a great portion of the surplus of agri
cultural province necessarily requires a foreign
market. The reduced price of the principal
articles exported from tne United Status wiu
operate more heavily than any contemplated
lax. And without enquiring whether a similar
cause may not still more deeply and perma
nently aftect a nation at w ar w ith the U.btates,
it seems to ioliow, that so far as relates to Ame
rica, the losses and privations caused by tnc
war, should not be aggravated by taxes beyond
w hat is strictly necessary. An addition to the
debt is doubtless mi e. il ; but exper.ence hav
ing now shewn with what rapid progress the
revenue of the union increases in time of peace ;
w ith what facility the debt formerly contracted
has, in a few years, been reduced, a hope may
confidently be entertained, that all the evils of
the war will be temporary, and easily repaired,
and that the return oi peace w ill, without any
effort, afford ample resources for reimbursing
whatever may have been borrow ed during the
war.
‘Flic credit of the United States is also unim
paired, either at home or abroad, and it is be
lieved that loans to a reasonable amount, may
be obtained on eligible terms. Measures hav e
been taken to ascertain to w hat extent this may
be effected abroad; and it vv ill be sufficient
here to suggest, that the several banks of the 1
United States may find it convenient, after the
ensuing year, anu as the diminshed commerce
of the country may require less capital, to loan
to government . considerable portion of their
capital stock, now computed at about forty mil
lions of dollars.
It might be premature to enter into a parti
cular detail of die several branches of revenue
which may be selected, in order to provide for
the interest of war-loans, and to cover defi
ciencies iu case the existing revenue should fall
below seven millions of dollars, a general enu
meration seems at present sufficient.
1. Not only the duties on salt and the Medi
terranean duties may be immediately revived ;
but the duties on importation generally may, in
case of war, be consideraby lincrcascd, perhaps
doubled, with less inconvenience than would
arise from any other mode of taxation. With
out resorting to the example of other nations,
experience has proven, that this source of rev
enue is, in the United States, the most produc
tive, the easiest to collect, and the least bur
thensome to the great mass of the people. In
time ot war, the danger of smuggling is dimin
ished ; the scarcity ol foreign articles prevents
the duty ever falling on the importer; the con
sumers arc precisely those members of the
community vvSo are best able to pay the dutv ;
and the increase of domestic manufactures,
which may be indirectly affected, is in itself a
desirable object.
2. Indirect taxes, however ineligible, will
doubtless be cheerfully paid as war taxes, if
necessary. Several modifications of the svs
tem formerly adopted, might however be intro
duced, both in order to diminish some of the in
conveniences which were experienced, and par
ticularly toensure the collection of the duties.
3. Direct taxes are liable to a particular ob
jection, arising from the unavoidable inequality
produced by the general rule of the constitn-
lifir. 1V!..-.; ? d.lkrcr.re r>ay exTst hettreen
the r.-kit;-. ■ •-nith, and consequent ability of
paying, of to 1 . , ...u liil ,11 c tax must
necessarily la r -r- tl .n proportion to their re
relativo popo! ..A ii. : .ould is, however, be
come nrros-arv torfsi.it to that resource, it is
believed that th” tax raicod np.ai that species
of prop my in earn state which, in the state
In v ■, L liahfi- to taxation, as had originally been
contemplated by cnagre.v-. would U p: eferabU.
to a general assessment laid v.aiftruly on the
same species of property in all tlic states, as
was ultimately adopted.
All oi which is respectfully submitted.
ALBERT GALLATIN,
Secretary oj th • Treasury,
Treasury Department, Nov. 5, 1807.
litj the ships Alexander Hamilton and
Eliza .from Liverpool,
Meliss, Taylor & Cos,
Have received, i:i part, their supply of
WINTER GOODS ;
and CafGmeces
Ditto ditto fecoud Cloths a
And ditto Calfimeres
York {hire Narrow Cloth,
Blue Spreads—Napt I-rize
Barh Coating—fearnought and coarE Cloths, of e.try
defeription,
Patent Cord -v
Toilenet /
Worsted Marfilleo Quilting f VEST COATING
Swansdown \
Belief’s worfttd and cotton patent Cords
Cotton Corduroys
Velveteens and fancy Cords, of all colours and price,
Men’s and Youth’s Wool, x
Ditto ditto plated /
Ditto ditto fine, HATS, in convenient
I.adies ditto ditto ( bote; for country floras
Youth’s and Children’s plated V
Sgrvant’9 Glared Leather J
Hardware, dune up in vvellaffortedcafks.forfhop keeper*
And by the {hip Mary, daily eipeSed from Gree
nock, they are to have the remainder, which, together,
will make a very great variety and extrnfive assortment
of afi well leledled GOODS, as have ever came to thi*
market...being every article of them felediedby one of
the partners reiiding in Britain, who is possessed of
every advantage of procuring goods on th-s belt
terms, which will enable them to make (ales at a very
low rate. Among the Goods received, will be found,
The following Articles, viz.
White “j
Green and I>LAINS
Brown J
London Dutlile }
Brillol ditto ( BLANKETS
7-4 to 12-4 Rose ditto
White 4
Blue /
Red > WELCH FLANNELS
Scarlet and V
Yellow J
One bale London dressed Superfine -j
Cloths and CalEmeres /
Two cases London made Hats of the f lOT reta,llD 2
very bell quality and newell falhion J
One case newefl fafhion London straw Bonnets
An extensive assortment of Yoikfliire fuperfine Cloth*
Buttons of all kinds
Guns and Gun Locks
Knives and Forks
Pocket and Pen Knives—ffpectacles
Packet and pound pins
Needles—Horn and Ivory Combs
Ladies elegant ornamented hair Combs
Cotton Hoficry, of every defeription
WorfleJ and Lamb’s Wool ditto ditto
Calicoes and printed Cambrics, new paterna
Silk Chambrays,of an elegant flyle
Cotton ditto—Dimities
9-8 and 6-4 Cambric ditto
Plain Cambrics, all widths
Elegant figured ditto
Cambric Shawls
Damask and other fitk ditto
Biack Barcelona, and various other silk Handkerchief®
A complete assortment of new falhion Rifiboa
Cotton Counterpanes
Ronial and Pullicat Handkerchiefs
Durants, Calimancoes and Shalloon*
Bombazetts and Bombazeeus
Satin Peeling
White and black Persian
Black silk Florentine
Ditto Satin
Ditto Mode
Ditto Crape
Ladies’ Pic Nic and other silk Gloves
Ditto ditto Cotton ditto
Ladies’ and gentlemen’* silk Hole
Sewing silk and Twill
Thread Laces and ditto Edging
Cotton ditto ditto ditto
Huckabacks—Fancy Diaper
Fancy Towels—Table Cloths
Cotton Shirting—Table Covers
Cd, Bd, lOd, 20d, clafphead Nails
Crockery Ware, in well assorted cratC9for retaiima
Chaff Ware, in ditto, &c. Ac.
October 6. 110
Grand Lodge.
-AjL, The MEMBERS of tho
jQ t(? • GRANDLODGEofGEOR
GIA, are notified to attend
Vy /y J at their Lodge Room in the
Filatuie, the firft Saturday
in Dvcember next, at ten
o’clock in the forenoon, being
a grand quarterly comir.uni
““ cation, for the elefticn of
officers and other business of the Craft. The different
committees will have to produce their reports. The
lodges under the jurifdiftion of this Grand Lodge,
muff render in their returns, by their proper repre
sentatives j and in default thereof, the Grand Lodge
regulations will be put in force.
By order of the R. IV. Crand Matter.
D. D. Williams,
Grand Secretary.
T? The editors of the Louisville Gazette, Augusta
Herald, and the Milledgeville Intelligencer, arc re
quelled to insert the above twite in their papers.
November 17 IT7