dence being thus laid; what have the State Banks to apprehend from a return to coin payments, when the National Bank shall commence similar payments, (say in January next,) or when similar payments shall be exacted from the People, in the collection of Duties and Taxes, on the 20th of February, which will not be equally operative on the 1st of July, 1817? The sincerity and the honor of the Directors of the State Banks, who have proposed the last date as the proper period for the all-important reform contemplated, will not be impeached or doubted; but there is no legal obligation to conform to the proposition; and the occurrence of new incidents, or the perception of other views, may hereafter be thought to justify a change of council and of conduct. There is, then, no security for the Government or the Community, but in the inflexible adherence to the system which Congress has adopted. Having reviewed the general course of the Treasury, as connected with the state of the Currency, it becomes proper to exhibit, more particularly, the Fiscal results: 1st. In relation to the Appropriations and Payments for the year 1816; 2dly. In relation to the Receipts at the Treasury in 1816; 3dly. In relation to the Public Debt; and 4thly. In relation to the Miscellaneous business of the Department. It must, however, be remembered, that until the Accounts of the Treasurer shall be finally balanced and settled, the Statements which have been officially furnished by the Register, for the immediate purposes of the present Report, are to be regarded in the light of Estimates, subject to such changes as the ultimate examination of the Accounting Officers may produce. But it is not believed that any essential variance will occur. I. Of the Appropriations and Payments for 1816. The demands authorized by Acts of Appropriation, to be made on the Treasury for the year 1816, (independent of the unsatisfied Balances of Appropriations for former years, not carried to the Surplus fund,) amounted to the sum of.................. Dollars 32,475,303 93 For the Civil Department, Foreign Intercourse, and Miscellaneous Ex The Payments made at the Treasury, on account of the above Appropriations, stated to the 1st of August, 1816, amounted to the sum of .... ....Dollars 26,332,174 89 For the Civil Department, Foreign Intercourse, and Miscellaneous Ex 1,977,788 50 For the Naval Department......... For the Public Debt, (1,354,762 62, being part of the Balance of the pre ceding year's Appropriation)......... 9,354,762 62 Dollars 26,332,174 89 The unexpended Balance of Appropriations for 1816, being the sum of ... Dollars 6,143,129 04 To be credited, however, with the sum of 1,354,762 62, taken, as above stated, from the last year's Balance of the Appropriation for the Public Debt. But it is estimated that the Demands on the Treasury, from the 1st of August to the 31st of December, 1816, will amount to the sum of, Dollars 12,413,524 33 For the Civil Department, Foreign Intercourse, and Miscellaneous Expenses.... ..... 1,629,494 90 For the Military Department For the Naval Department ......... For the Public Debt, including the payment to be made on the 1st of January, 1817......... 3,579,236 66 2,986,432 77 4,218,360 00 Dollars 12,413,524 33 And the unexpended Balance of the Appropriations for 1816, amounting only, as above stated, to the sum of............. There is a general deficit in the Appropriations, for which provision must be made by Law, amounting to the sum of....... 6,143,129 04 ..Dollars 6,270,395 29 Connected with these Statements, it may be useful to add, that, o the Appropriations granted prior to the 1st of January, 1816, there remained on that day, unexpended, the sum of, Dollars... 7,972,277 86 For the Civil Department, Foreign Intercourse, and Miscellaneous Ex And at the end of the year 1816, the Appropriation for the Military Department, the Naval Department, and the Public Debt, will probably be exhausted; but there will remain an unexpended Balance of the Appropriations for the Civil Department, Foreign Intercourse, and Miscellaneous Expenses, estimated at about the sum of 2,642,623 dollars, 77 cents. II. Of the Receipts of the Treasury in 1816. It is not within the scope of this Report to enter into the details of that portion of the Revenue which has accrued, but has not become payable; nor to distinguish between the amount produced under the old, or War, and under the new, or Peace, system of Revenue. The main object is to exhibit the actual Receipts of Revenue at the Treasury, from the 1st of January to the 1st of August, 1816; and which have arisen from the following sources: 1. From Cash in the Treasury, (deducting an item of 6,692,407 dollars 55 cents, in Treasury Notes, which had been paid for Duties and Taxes,) stated as subject to the future settlement of the Treasurer's Accounts, at......... Dollars 6,298,652 26 2. From Revenue, including what was outstanding at the commencement of the year; to wit: Customs,(subject to a deduction of 1,829,564 33 for Debentures paid during the same period)............... 21,354,743 74 Direct Tax, (independent of the assumed quotas...... 3,050,000 00 Assumed (after deducting 15 per cent) by New York.. 365,620 38 204,889 23 3. From Loans and Treasury Notes. Loans, 6 per cent. Stock of 1814... Loans, 6 per cent. Stock of 1815... Loans, 7 per cent. Stock by the issue, re-issue, and sale of small Treasury Notes, which were funded ...... 87,902 08 335,447 90 Total Amount of Receipts from Loans....... Treasury Notes.-Of the new emis 4,289,089 00 4,917,328 21 Making the Amount received into the Treasury, from the 1st of January to the 1st of August, 1816, (including the Cash in the Treasury at the former date,) the sum of ... And it is computed that, between the 1st of August and the 31st of December, 1816, there will be 45,825,920 67 further received at the Treasury the sum of............* 19,876,710 40 Making the whole of the estimated Receipts of the year 1816, the sum of ..... SUMMARY. .....Dollars 65,702,631 07 First.-(1.) From the foregoing Estimates and Statements, it ap pears, that the Receipts at the Treasury (including the Cash in deposit at the commencement of the year) from the 1st of January to the 1st of August, 1816, may be stated (subject to such alterations as shall occur on the final settlement of the Treasurer's Accounts) at............ ...........Dollars 45,825,920 67 (2.) And that the Payments at the Treasury for the same period, may be stated at...... Making an excess of Receipts beyond the Payments at the Treasury, from the 1st of January to the 1st of August, 1816, of....................... 26,332,174 89 Dollars 19,493,745 78 Second. (1.) From the foregoing Estimates and Statements, it appears that the Receipts at the Treasury, as above stated, from the 1st of January to the 1st of August, 1816, (excluding the amount in the Treasury on the 1st date,) have amounted to 39,527,268 41 (2) And that the probable Receipts at the Treasury, from the 1st of August to the 31st of December, 1816, may be estimated at......... Making the whole of the estimated Receipts of the Treasury for the year 1816, exclusive of the cash in the Treasury on the 1st of January, the sum of 19,876,710 40 ... 59,403,978 81 (3.) But from the foregoing Statement it also appears, that the Payments at the Treasury, from the 1st of January to the 1st of August, 1816, amount to the sum of .................................. 26,332,174 89 ...... (4.) And that the Demands on the Treasury, from the 1st of August to the 31st of December, 1816, are estimated at the sum of..... 12,413,524 33 Making the whole of the estimated Payments and Demands in the Treasury, for the year 1816, the sum of 38,745,699 22 And leaving an excess of the estimated Receipts beyond the estimated Payments and Demands at the Treasury, for the year 1816 (exclusive of the sum in the Treasury on the 1st of January, 1816), amounting to....... ......Dollars 20,658,179 59 A General Statement of the sums paid monthly at the Customhouses for duties on Merchandise imported into The United States, and of the sums repaid monthly upon debentures, issued for the drawback of the duties on importation, has been prepared, embracing the period from March, 1815, to July, 1816, both months inclusive. From this Document it appears: (1.) That the aggregate of the Duties received at all the Custom |