Reports of the Secretaries.
We give condensation of those reports of the Secretaries
which have reached us, commencing with the--
Report of the Secretary of the Treasury.
The report shows that the aggregate means for the support of the government during the fiscal year ending June 30, 1860, amounted to $81,091,309. 43, inclusive of a balance of $4,339,225 54 which remained over in the treasury from the previous year.
The expenditure during the fiscal year ending June 30, 1860, was $77,462,102 72, (inclusive of $17,613,628 of public debt redeemed,) which, deducted from the aggregate receipts as above of $81,091,309 43, left a balance in the treasury on the 1st July of $3,629,206 71.
On the receipts during the last year $19,395,265 were from treasury notes under the act of Dec. 23, 1857, and $1,380,000 from loan, per act June 14, 1858, and from other sources as follows.
Customs, $53,187,511 87; public lands, $1,778,553 71, and miscellaneous, $1,010,764 31.
Present Fiscal Year.
The receipts of the past quarter of the fiscal year 1861 from July 1 to Sept. 30, 1860, have amounted to $16,719,790 04, (there is an increase of $172,460 60 from customs, as compared with same quarter last year,) which, with the balance of $3,629,206 71 in the treasury on--
|1st July, 1860, makes||$20,348,996 75|
the estimated receipts during the three remaining quarters of the current fiscal year, 1861, are--
|from customs||$40,000,000 00|
|from public lands||2,250,000 00|
|from miscel's sources||750,000 00|
|from loan, authorized June 24, 1860 ||21,000,000 00|
|making the total of ascertained and estimated means for the service of the current fiscal year,1861||84,348,996 75|
|the expenditure of the first quarter of the current fiscal year — that ending September 30th, 1860--was||16,543,472 59|
|the estimated expenditure from appropriations heretofore made by law, during the three remaining quarters of the current fiscal year 1861, according to the report of the register, is||46,935,232 58|
|the loan of June 22d, 1860, the am'nt of which is stated among the means of the fiscal year 1861, is expressly required to be applied to the redemption of treasury notes — the amount of those notes and interest thereon, deducting $375,400 redeemed during the first quarter||20,624,600 00|
|making the aggregate expenditure, ascertained and estimated, for the current fiscal year 1861||84,103,105 17|
|which amount, deducted from the total of ascertained and estimated means for the service of the current fiscal year 1861, as before stated, leaves a balance in the treasury on July 1, 1861, being the commencement of the fiscal year '62, of||245,891 58|
the foregoing statement assumes that the whole sum embraced in the estimated expenditure for the remaining three-quarters of the current fiscal year, will be actually called for within the year.
The amount stated, $46,935,232 58, does not include the entire balance of the appropriation heretofore made by law, but such sums as the respective departments have indicated may probably be required.
But in practice for many years past the sums drawn from the treasury during any year have been much less than the amounts estimated as required within such year, according to the character of the appropriations and the exigencies of the public service.
It may be, therefore, fairly anticipated that should the operations of the government proceed in their ordinary course, that at least four millions of dollars more may be deducted from the estimated expenditure of the current fiscal year, increasing the balance in the treasury on July 1, 1861, to that extent.
estimates for the fiscal year from July 1, 1861, to June 30, 1862.
|estimated receipts from customs||$60,000,000 00|
|estimated receipts from public lands||3,000,000 00|
|estimated receipts from miscellaneous sources||1,250,000 00|
|estimated balance in the Treasury July 1, 1861 ||245,891 85|
|aggregate estimated means for the fiscal year 1862 ||$64,495,891 58|
|estimated expenditure from permanent appropriations||$9,626,386 20|
|estimated expenditure from balance of former appropriation not before required ||12,198,112 62|
|estimates now submitted by the Executive departments for appropriations by Congress ||46,539,227 20|
|Aggregate estimated expenditure for the fiscal year 1862 ||68,363,725 11|
|Showing a deficit of estimated means for the service of the fiscal year ending June 30, 1861,of||3,867,834 53|
The suggestions above made, as to not drawing from the Treasury during the year the whole amount of the appropriations authorized by law, will apply to the estimates, so that, instead of the above deficiency of $3,867,834 53, there will probably remain in the Treasury on the 1st July, 1862, a balance of about $8,000,000.
The correctness of this estimate of expenditure for the present and next fiscal years may be illustrated in another and similar form.--The entire expenditure of the government for the fiscal year ending June 10, 1860, exclusive of the redemption of treasury notes, which are otherwise provided for, and the interest on the public debt, was $59,848,474 72, and in that sum was included $4,446,009 26, to meet a deficiency in the Post-Office Department, produced by the failure of the post-office appropriation bill at the second session of the thirty-fifth Congress — thereby causing this amount to be paid and charged in the expenditure of the fiscal year ending June 30, 1860, though in point of fact the service was rendered and the liability incurred in the preceding year.
It should be borne in mind that the sum of $59,848,474 72, included not only payments growing out of such appropriations as had been estimated for by the department, but all other sums appropriated by Congress.
There is no reason why the expenditure for the present or next fiscal year should exceed that of the last year.
Allowing, however, a margin for an increase, it may be safely stated that the expenses for the two years will not exceed $60,000,000 each — making the amount to be provided for $120,000,000 The estimated means of the treasury for the same period are, for the present fiscal year, $63,348,996 75, and for the year ending June 30, 1862, $64,250,000, which would leave an excess of estimated means over estimated expenditure of $7,598,996 75.
The estimate of receipts into the treasury have been made without reference to the financial and commercial panic, which has assumed so threatening an aspect within the last few days, and of which I shall speak more fully hereafter.
The country was never in a more prosperous condition.
Our planters and farmers have been blest, as a general rule, with abundant crops, and were realizing remunerative prices for all kinds of products.
The exports of the last fiscal year had reached the enormous sum of $400,122,296, and the imports for the same period were $362,163,911, yielding a revenue from customs of $53,187,511.87. The exports of domestic produce for the present fiscal year, as far as they have been received, indicate an increase fully equal, if not greater, than that of preceding years, thus authorizing the estimate of increased revenue from that source.
Apart, therefore, from the threatened embarrassments in the trade and business of the country, these estimates, both of expenditure and receipts, would be submitted to Congress with great confidence that they would not vary very far from the actual results.
It is impossible to anticipate the effects which this threatened revulsion will produce upon the business of the country.
The absence of all the ordinary causes for such a state of things leaves no data upon which to make calculations — all the elements of prosperity are in existence — abundant crops with remunerative prices, money seeking safe investments, and, indeed, everything to indicate more than the usual increase in trade and business.
The causes which have so suddenly arrested this tide of prosperity must be looked for outside of the financial and commercial operations of the country; they are of a political character, and therefore so dependent for their ultimate effect upon future developments that it is impossible, at present, to say what will be the extent of their influence.
If, as some suppose, they are merely temporary, and will soon pass away, then there will be no necessity for any action of Congress, except to provide for the embarrassments already existing in consequence of them.
If, on the other hand, the effect should prove more permanent, the fact will be made manifest during the present session of Congress, and in time for such action as will provide the necessary means to carry on the operations of the government and preserve the public credit.
Already has the treasury been seriously affected by these causes.
The receipts from customs for the last few days have greatly fallen off, and the limited amount received is composed each day of an increased proportion of treasury notes not yet due. The indications are, that such will, at least for the present, continue to be the case; not only so, but in consequence of the failure of bidders for the late loan to comply with the terms of their bids, a portion of the ordinary revenues has been withdrawn from the ordinary sources of expenditure to meet the payment of treasury notes past due, and the interest thereon.
This condition of things demands the immediate attention of Congress, and its early action will be required to enable the department to carry on the operations of the government, and at the same time preserve unimpaired the public credit.
The permanent public debt on June 30, 1860,
was $45,079,203 08, and the outstanding treasury notes at that date amounted to $19,690,500.
By the act of June 22, 1860, provision was made for the redemption of treasury notes and payment of the interest thereon.
This act provided for the issuing of stock for an amount not exceeding $21,000,000, at a rate of interest ‘"not exceeding 6 per centum per annum, and to be reimbursed within a period not beyond twenty years and not less than ten years."’ It was the policy of the department to negotiate this loan for such amounts and at such times as would place the money in the treasury to meet these treasury notes as they should fall due. To have negotiated the whole amount thereof, or any portion in advance, as the notes falling due, would have subjected the government to the unnecessary payment of interest during the time the money would have remained in the vaults of the treasury uncalled for. There was no power in the department to call in the treasury notes until they became due. Besides, the withdrawal of such an amount of specie from the public would have been attended with the most injurious effects upon the financial operations of the country.
For these reasons, no negotiation of any portion of the loan was attempted until the 8th day of September, 1860, when proposals were invited for ten millions of the loan, which was ample to meet all the treasury notes that would fall due before January 1, 1861.--The rate of interest was fixed at five per centum per annum, under the conviction that the loan could be readily negotiated at that rate, for at that time the five per cent stock of the United States
was selling in the market at a premium of three per cent. The result realized this just expectation, and the whole amount offered was taken either at par or a small premium.
Before, however, the time had arrived, for payment on the part of the bidders, the financial crisis, to which I have already referred, came.
Some of the bidders promptly complied with their proposals, and others were willing to do so, if required by the Department, though it would be at a considerable sacrifice.
Under these circumstances, an additional term of thirty days was given to all bidders who would deposit one-half of the amount of their bids within the time originally prescribed.
Most of the bidders availed themselves of this extension, and made their deposits accordingly on or before the 22d November, 1860. A portion, however, failed to do so, and to them the additional thirty days has been offered, on condition that they would increase their forfeit deposit of one per cent, to five per cent. To this proposition no response has as yet been received.--The amount of the loan awarded to this last class of bidders is $1,099,000.
The question presents itself, what action shall be taken in reference to the stock which may be thus forfeited?
There is no power in the department, as the law now stands, to meet the case.
It is recommended that Congress should immediately authorize the department to dispose of this stock upon the best possible terms, holding the defaulting bidders responsible for the difference between their bids and the amount for which the stock can now be negotiated.
The necessities of the Treasury demand prompt action on this subject.
Not only are the treasury notes past due rapidly coming in for redemption, but, as already stated, those not due are being paid in for customs, thereby withdrawing from the regular operation of the government its principal source of revenue.
To meet the remaining outstanding treasury notes and interest thereon there is yet to be negotiated eleven millions of the stock authorized by the act of June 22, 1860. The statement just made of the difficulties attending the payment for the stock already sold, in connection with the fact that capitalists, in the present condition of the country, seem unwilling to invest in United States
stock at par, renders it almost certain that this remaining eleven millions can not now be negotiated upon terms acceptable to the government.
The condition of the Treasury is such that no serious delay can be indulged.
I recommend, therefore, a repeal of so much of the act of June 22, 1860, as authorizes the issuing of this additional eleven millions of stock, and that authority be given for the issuing of treasury notes to the same amount, to be negotiated at such rates as will command the confidence of the country.
To create that confidence, I recommend that the public lands be unconditionally pledged for the ultimate redemption of all the treasury notes which it may become necessary to issue.
I make this recommendation of substituting treasury notes for stock, the more readily from the conviction that there should always exist in the department power to issue treasury notes for a limited amount, under the direction of the President
, to meet unforeseen contingencies.
It is a power which can never be abused, as the amount realized from such source can only be used to meet lawful demands upon the Treasury.
No, Secretary of the Treasury
would ever exercise it, except compelled to do so by the exigencies of the public service.
On the other hand, it would enable the government to meet, without embarrassment, those sudden revulsions to which the country is always liable, and which cannot always be anticipated.
I have already stated that provision should be made at once to relieve the treasury from its present embarrassments, produced by the causes referred to. To do this, Congress should authorize the issuing of an additional amount of treasury notes, not less than ten millions of dollars.
With these means the department will be enabled to meet all lawful demands upon it for the present.
The extent of the financial crisis through which the country is now passing cannot now be determined, and until it is better known, no policy can be recommended of a permanent character.
No change in the revenue laws can be made in time to meet these difficulties; and if it could, the same causes would produce the same results under any laws that might be passed.
If Congress, however, should determine upon such a policy — either with a view to meet existing difficulties or for the purpose of providing for the payment of any portion of the public debt — I can only refer them, for the views of the Department, to my former reports on that subject.
again urges the attention of Congress to the importance of the bill for the consolidation of the revenue laws; the improvement of the marine service, substituting steam for sailing vessels, and increasing the pay in that department; the progress of public buildings and want of marine hospitals; and refers also to reports on the analysis of iron ores, and on J. T. Barclay
's discovery for preventing the abrasion and counterfeiting of United States
The fact that, in accordance with an act of Congress, commissioners were sent to the International Statistical Congress
last July, is also referred to, with the further fact that the Hon. A. B. Longstreet
, of South Carolina
, withdrew therefrom on the first day of the session, on account of the presence of a negro as a member of the body.
The report of the Judge
on the subject is submitted, and Secretary Cobb
"It is only necessary to say that the withdrawal of Judge Longstreet
from the Congress
, and his refusal to return to its deliberations, received the entire approval of his Government."
Report of the Postmaster General.
This report shows that on the 30th of June, 1860, there were 8,562 mail routes in operation, extending 240,594 miles, of which 27,129 were by railroad, 14,976 by steamboat, 54,577 by coach, and 143,912 by inferior modes.
The total annual transportation of mails was 74,724,776 miles, of which 27,653,749 were by railroad, at a cost of 12.11 per mile; 3,951,268 miles by steamboat, at a cost of 20.76 per mile; 18,653,161 by coach, at a cost of 13 67, and 24,466,598 by inferior modes, at a cost of about 7.45 per mile.
Compared with the service reported June 30, 1859, there is a decrease of 19,458 miles in the length of mail routes; of 7,583,626 miles in the annual transportation, about 9.22 per cent.; and of $660,047 in the cost, about 7 per cent. The aggregate length of railroad routes has been increased 1,119 miles, and the annual transportation thereon 385,465 miles, about 1.4 per cent., at a cost of $105,688, or 3 25 per cent. The length of steamboat routes is diminished 4,233 miles; the annual transportation 618,694 miles, about 13.53 per cent.; and the cost $83,991, about 7.25 per cent.
On the 30th of June last there were in the service
|474 route agents, at a compensation of||$372 240|
|40 local agents, at a compensation of||25 479|
|1,649 mail messengers||208,948|
|68 railroad baggage masters in charge of the express mails, at a compensation of ||8 100|
Number of Post-Offices.
|this amount, added to the cost of the service as in operation on the 30th of June||8,808,710|
|makes the total on the 30th of June last ||$9,423 477|
|whole Number of post-offices in the United States on the 30th of June, 1860 ||28,539|
|Number established during the year ending June 30th, 1860 ||1,140|
|Number discontinued during the same period||1,181|
|making a decrease during the year of||41|
|whole Number of post-offices on the 30th of June, 1860 ||28,498|
|Number of post-offices of which the names and sites were changed||375|
the increase of business in this department from the commencement of the government, indicates the growth of our country in a striking manner.
At its formation, in 1789, there were but 75 post-offices in operation; in 1800, there were 903; in 1810, 2,300; in 1820, 4,500; in 1830, 8,450; in 1840, 13,468; in 1850, 18,417, and in 1860, 28,498.
revenues and Expenditures.
the Expenditures of the department in the fiscal year ending June 30, 1860, amounted to $19,170,609 99.
the gross revenue for the year 1860, including receipts from letter carriers and from foreign postages, amounted to $8,518,067 40.--being an increase of near seven per cent, over the revenue of the year ending June 30, 1859.
|the balance standing to the credit of the department on the books of the Auditor on June 30, 1859, was||$710,23 29|
|the receipts of the department from all sources during the year 1860||8,518,067 40|
|amount closed by suspense||15 25|
|amount of various appropriations drawn from the treasury during the year, as specifically shown by the Auditor, was||11,154,167 54|
|total receipts||$20 382,481 48|
means for 1862.
|the whole amount of expenses in the year, including $11 32 for accounts closed by bad debts||19,170,621 31|
|leaving a credit to the revenue account for 1860||1,211 860 17|
|the gross revenue for the year 1862, including foreign postages, fees paid in by letter carriers, and miscellaneous receipts, is estimated at ||$9,213,140 00|
|balance of appropriations, arising chiefly from increased revenues, and not required for expenditures of 1860||475,794 60|
|$9,688 934 60|
|estimated deficiency of revenue, compared with estimated expenditures ||$5,266,600 53|
|Deduct appropriations made by the acts of March 3, 1847, and March 3, 1851||7 000,000 00|
|estimated deficiency for the year ending June 30, 1862 ||$4 566,600 53|
the anticipated revenue for the year ending June 30, 1860, was $8,287,223, or four per cent on the revenue of 1859. it now appears that the actual revenue for 1860 was $8,518,067 40, being near seven per cent, increase — nevertheless, it is not deemed expedient to estimate for an increase of more than four per cent, for 1862; and the amount of $9,213,140, as above stated, is obtained by assuming that ratio of increase for both 1861 and 1862, based on the actual revenue of 1860.
Proposals were made during the last session of Congress to furnish the department with wrappers or envelopes embossed with one cent postage stamps, for the purpose of pre-paying transient newspapers, and the subject was considered by the Committees on the Post-Office and Post Roads. Recently similar Proposals (from another party) have been made, with the suggestion that not merely one cent, but also two cent newspaper wrappers be provided; and I recommend the subject for such disposition as Congress may deem necessary.
|the number of dead letters containing money, registered and sent out during the year ending 30th June last, was||10,450|
|the number containing other articles of value||13 585|
being 5 662 increase on the work of 1859.
|in addition, there have been sent out, since April last, 6,982 other letters, of a class which were heretofore either destroyed or filed, not containing enclosures of sufficient absolute value to justify their registration,||6,982|
|making whole number sent||31,017|
|or 12 644 more than during the previous year.|
|whole number of dead letters opened at San Francisco||75 127|
Persevering efforts have been made, so far as the limited number of clerks would permit, to find the true causes for the non-delivery, especially of valuable letters, and the result has been to confirm the former experience of the department, as stated in my annual report of last year, and my special report of 7th may last.
For example, out of 8,002 cases, in which the inquiries of the department have been answered, or where causes were patent without inquiry, 3,983 letters were misdirected, 621 illegally directed, 583 directed to transient persons, 336 to persons moved away, 657 not mailed for want of postage, 885 directed to fictitious persons or firms, 54 without any address or direction, 34 mis-sent — leaving, out of 8,002, only 1,341 letters properly addressed, and only 684 for the non-delivery of which the department is blamable, 657 having become dead because not prepaid.
the measures of reform proposed in my last annual report, not having been adopted by Congress, the anticipated improvement in the financial status
of the department is not realized; and although the estimated deficiency for the year 1862 is $1,683,832.63 less than the deficiency for 1859, still the department is left very far from that position of independence which, in my opinion, it should occupy.
postage stamps and Stamped Envelopes.
the number of postage stamps supplied to postmasters during the year ending June 30, 1860, was as follows, viz:
|Whole number||216 370,660|
|Stamped envelopes 29,280,025; value||949,377 19|
|Total amount for 1860||$6,870,316 19|
|Total value of postage stamps and stamped envelopes issued during the year ending June 30, 1859||$6 261 533 34|
|Increase during 1860||608 782 85|
Larger denominations of postage stamps have been adopted and introduced, especially for the purpose of affording requisite facilities to prepay the postage on letters to foreign countries, and of removing all excuses heretofore existing for paying such postages in money.
The new denominations are twenty-four cents, thirty cents, and ninety cents.
proceeds to argue in favor of declaring city streets legal post routes.
The registration of letters he regards as a failure.
The registered letters are no more carefully attended to in the post-offices, or by the mail agents and the distinguishing mark on them only the more readily tells the dishonest which letters are valuable.
He recommends its abolishment.
The rate of postage between the Eastern States
and any point west of the Rocky Mountains
, and vice versa,
should be raised to 10 cents per letter.
Report of the Secretary of War.
The Indian outrages in New Mexico
last year were very numerous, and not less than $500,000 has been expended in moving the troops against the savages.
The Superintendence of the Indians, the Secretary
thinks, should be transferred to the War Department.
In the Quartermasters bureau
since he came into the Department over $24,000,000 has been disbursed by about 230 disbursing officers, of which all has been accounted for except about $24,000 which will yet be made good.
With regard to the facilities for sending troops from the Atlantic
to the Pacific
, it is stated that at an early period last season the detachment of recruits, amounting to three hundred men, embarked at St. Louis
on the 3d of May on two steamboats of light draught, and with all the necessary appliances for such a march, set out on the journey.
The season was the least propitious of any for some years as the water was very low from failure of rains in the spring and of the usual quantity of snow during the winter amongst the Rocky Mountain
range. --But, notwithstanding this disadvantage, the expedition made good progress, reached Fort Benton
by the second day of July without any material hindrance, and took up their line of march for the Pacific
Transportation had been provided for them, and although there was some little delay in its reaching the command, it caused no material detention and resulted in no inconvenience.
After a prosperous march of less than sixty days from Fort Benton
, the command arrived in safety and good condition at Fort Walla-Walla.
This march, covering a distance of three thousand miles by water and six hundred by land, has been made in the space of five months, (during one of which the troops were halted,) through an unknown and wilderness country, with no great additional expense beyond that of an ordinary march, and without any serious accident.
Rifling our present cannon, the establishment of a national cannon foundry, the adoption of breach-loading arms, and the equipment of militia of the country, are all urged.