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Subject Area: Economics
Subject Area: Political Theory

GALLATIN TO JEFFERSON. - Albert Gallatin, The Writings of Albert Gallatin, vol. 1 [1879]

Edition used:

The Writings of Albert Gallatin, ed. Henry Adams (Philadelphia: J.B. Lippincott, 1879). 3 vols.

Part of: The Writings of Albert Gallatin, 3 vols.

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GALLATIN TO JEFFERSON.

Treasury Department, 29th October, 1804.

Dear Sir,—

I return your message with such remarks as occurred. It was not received till Saturday, which must be my apology for not returning it sooner.

The Register being absent, I have been obliged to go myself through all the minutiæ of calculation, instead of only marking the outlines and reviewing the work. The complete materials for your financial paragraph will not, for that reason, be completed till to-morrow. In the mean while the following sketch is correct, except for the amount of principal public debt redeemed, which is not yet ascertained:

Balance in Treasury, 30th September, 1803,$5,860,981.54
Receipts during the year, viz.:
imposts,$10,729,708.54 }11,574,211.04
Loans, repayments, arrears, taxes, excise, &c.,844,502.50 }
$17,435,192.58
Expended during the year, viz.:
Current expense, civil, military, foreign, and domestic,$3,727,081.31 }
Instalments to Great Britain,888,000.00 }$12,552,967.47
Payment for interest and principal on public debt,7,937,886.16 }
Balance in Treasury, 30th September, 1804,4,882,225.11
$17,435,192.58

Of which payments, about $3,600,000 for principal.

With great respect, your obedient servant.