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by the proprietor to the Commissioner of Loans for the State where the payments have been made.
The funded stock to be thus issued, will be irredeemable till the 31st day of December, 1825; will be transferable in the same manner as the other funded stock of the United States; and will be charged for the regular and quarterly payment of its interest, and for the eventual reimbursement of its principal, upon the annual fund of eight millions of dollars appropriated for the payment of the principal and interest of the debt of the United States, in the manner pointed out in the aforesaid act of the 2d of August, 1813. W. JONES,
Acting Secretary of the Treasury.
CITY OF WASHINGTON, September 25, 1813.
SIR: Having, agreeably to the terms of your public notice of the 30th of August last, collected subscriptions for the purpose of incorporating them in one proposal, I hereby propose to take of the loan of seven millions five hundred thousand dollars, the sum of three million of dollars, payable at the Bank of Pennsylvania on the following terms, viz: for every hundred dollars in six per cent. stock, I will give eighty-eight dollars and twenty-five cents in money, or for the privilege of paying the balance at any subsequent instalment after the first, I will give for every hundred dollars of the aforesaid stock, eighty-eight dollars and fifty cents in money.
I have the honor to be,
Your obedient servant,
The Hon. the Secretary of the Treasury.
TREASURY DEPARTMENT, September 25, 1813.
SIR: More than twelve millions and a half of dollars were this day offered for the loan of seven and a half millions. The rate at which the loan is taken, is eighty-eight dollars and twenty-five cents in money for each hundred dollars in stock. Your proposal for three millions of dollars of the loan, having been at this rate, has been accepted; but in consequence of the large surplus offered, it has been necessary to reduce the amount allowed to you to two millions one hundred and fifty-two thousand dollars. Upon completing the payment of this sum in the proportions and at the periods stated in the public notification relating to this loan, of the 30th of August last, you will be entitled to receive stock at the rate above-mentioned.
If you shall desire, or any of the persons in whose behalf your proposal was made, to obtain the certificates of funded stock before the 15th of February next, the day on which the last instalment of the loan will be payable, it may be effected, by paying on any day fixed for the payment of an instalment, after the first, all the subsequent instalments; but interest will in such case be allowed only as if each instalment had been paid on the day fixed in the public notification of the 30th of August. You will be pleased, on receipt of this letter, to state to me the Bank or Banks in which the money will be paid; and if more than one, the precise sum payable at each; and on or before the 15th of October, will furnish the Cashier or Cashiers of such Bank or Banks, with the names of the persons in whose behalf your proposal has been made, and the sums payable by each.
The commission of one-eighth per cent. will be paid from the Treasury, after the payment of the first instalment on the 15th of October next. I am, respectfully, sir,
Your obedient servant,
W. JONES, Acting Secretary of the Treasury.
JONATHAN SMITH, Esq. Philadelphia.
REPORT ON THE FINANCES.
The Secretary of the Treasury, in obedience to the act "supplementary to the act, entitled an act to establish the Treasury Department," has the honor respectfully to submit to Congress the following report and estimates. The sums authorized by Congress to be expended during the year 1814, and for which appropriations have been made, are as follows:
1. For Civil, Diplomatic, and Miscellaneous expenses,
To this sum is to be added, the amount which may be payable on the following accounts, viz: 1. The amount of fines, penalties, and forfeitures actually received into the Treasury, which is appropriated for defraying the expenses of courts of the United States. 2. The sums received by the Collectors of the Customs for the Marine Hospital Fund and Privateer Pension Fund,which are paid into the Treasury with the other moneys derived from the customs, but are exclusively applicable to the two objects here mentioned, respectively. 3. The moneys received into the Treasury for the United States' moiety of prizes captured by public vessels, which belong exclusively to the Navy Pen-. sion Fund. These items are contingent and uncertain, until the accounts for the year are made up, and their amount ascertained. As they appear among the receipts into the Treasury, they must also be placed among its expenditures. They may be estimated for the year 1814, at
2. Military expenses, including the Indian Department, and the permanent appropriation of 200,000 dollars annually, for arming and equipping the whole body of the militia of the United States,
3. Naval expenses, including 200,000 dollars for the purchase of timber, appropriated by the act of March 30, 1812,
4. For the Public Debt, such sum as the public engagements may require; and which, during the year 1814, may be estimated as follows:
Interest on the public debt existing previously to the pre1,980,000 00
Interest on the debt contracted during the present war, including the loans of the present year and Treasury Notes,
Reimbursement of principal, consisting of the annual reimbursement of the old six per cent. and deferred stocks, temporary loans payable during this year, and Treasury Notes reimbursable during the same period,
But for these purposes there had been advanced from the Treasury during the year 1813, to sundry Commissioners of Loans, beyond the demands upon them for the year 1813, and to the Treasurer of the United States as Agent for the Commissioners of the Sinking Fund, about
Leaving payable during the year 1814,
From the Customs,
Sales of Public Lands,
Direct Tax and Internal Duties,
The means by which this sum was to be provided, were the following: 1. Moneys receivable on account of the public revenue, and which were estimated as follows:
2. Moneys receivable for the proceeds of loans, and for Treasury Notes to be issued, as follows:
Amount payable into the Treasury during the year 1814, of the loan of seven and a half millions, made under the act of August 2, 1813,
Amount authorized to be borrowed by the act of March 24, 1814,
Amount authorized by the act of March 4, 1814, to be issued in Treasury Notes,
And it was estimated, that out of the balance of cash remaining in the Treasury on the 1st day of January, 1814, which amounted to $ 5,196,482 00, there might be applied a sum sufficient to cover the whole amount of the authorized expenditures, and which would be
The accounts of the Treasury have as yet been made up only for the two first quarters of the year 1814, or to the 30th of June, of that year. The annexed statement, marked A., shows the receipts and expenditures at the Treasury for the fourth quarter of the year 1813, which have not before been communicated to Congress, and separately, those of the two first quarters of the year 1814.
By this statement, it appears that the payments from the Treasury during the first half of the present year, have been-.
For Civil, Diplomatic, and Miscellaneous expenses,
And would leave payable during the remainder of the year, on those several accounts, the following sums: or Civil, Diplomatic, and Miscellaneous
. For the proceeds of the Customs,
The receipts into the Treasury during the first half of the present year, have been as follows:
1,001,292 99 13,292,668.00 4,157,010 97 9,125,419 23
Public Lands, (including those in the Mississippi
Internal Duties and Direct Tax,
Loan of seven and a half millions, under the act of August 2, 1813, 3,592,665 00
Loan of ten millions, (part of 25 millions,) under the act of March 24, 1814,
Treasury Notes, issued under the act of February 25, 1813,
Treasury Notes, issued under the act of March 4, 1814, 1,392,100 00
1,444,062 60 11,210,238 00 4,012,899 90
And there remained cash in the Treasury, on the 1st of
540,065 68 2,189,272 40 166,744 00