Home

Liberty Fund, Inc. is a private, educational foundation established to encourage the study of the ideal of a society of free and responsible individuals.

Copyright information:

The text is in the public domain.

Fair use statement:

This material is put online to further the educational goals of Liberty Fund, Inc. Unless otherwise stated in the Copyright Information section above, this material may be used freely for educational and academic purposes. It may not be used in any way for profit.

GALLATIN TO JEFFERSON.

Department Treasury, 5th November, 1805.

Dear Sir,—

Annexed is a sketch of the receipts and expenditures for the year ending 30th September last. It cannot be perfectly correct, and several alterations will certainly be made on the official examination of the accounts. But the variations will not be such as to affect any general result. The most imperfect part is the estimate of that part of the customs which arise from the Mediterranean fund, and which we do not consider as part of the permanent revenue.

With respectful attachment, your obedient servant.

Note.—We have actually paid this year about six millions of the principal of the debt contracted before your Administration, viz.:

Domestic and foreign debt, as per note f,	$4,200,000
British convention, being in exchange of the 6th Article of Jay’s treaty,	1,776,000
Payment for lands in stock, as per note b,	45,000
	$6,021,000

A Sketch of the Receipts and Expenditures of the United States for the year ending 30th September, 1805.

*Receipts, viz.:*
(a) About 700,000 dollars of this sum arises from the Mediterranean fund.
(b) Besides about 45,000 dollars paid in stock.
(c) Fines, patents, fees, certificates, &c.
Customs(a)	$12,773,045.56
Sales of lands(b)	621,895.08
Postage,	28,500.00
Arrears of direct tax and internal duties,	61,087.80
Incidental(c)	14,718.63
Repayments (principally for bills of exchange protested),	157,506.89
		$13,656,753.96
Cash in Treasury 30th September, 1804,		4,882,351.35
		$18,539,105.31

Expenditures, viz.:

(d) Surveying, bonds on land claims, light-houses, marine hospitals, mint, military pensions, Capitol, Maryland loans, &c.

(e) It is apprehended that the Navy Department will have expended at least 300,000 dollars more than that sum, and more than the appropriations; for which difference they are in debt, and cannot pay till Congress shall have made an additional appropriation.

(f)

Of which the payments for interest are estimated at	$4,156,338.20
and those of principal redeemed at about	4,200,000.00
	$8,356,338.20

Civil list,

$615,652.26

Miscellaneous(d)

545,091.91

Diplomatic and Barbary,

258,017.74

British convention (the two last instalments),

1,776,000.00

Purchase of Louisiana (French bills),

350,559.10

Army and Indian Department,

749,281.28

Navy Department(e)

1,314,001.22

Domestic debt and loans,

$5,724,811.53 }(f)

8,356,338.20

Foreign debt,

2,631,526.67 }

$13,963,941.71

Cash in Treasury 30th September, 1805,

4,575,163.60

$18,539,105.31

Home

The Forum

Econlib

The Library

Other Sites

The Library

Return to Title Page for The Writings of Albert Gallatin, vol. 1

The Online Library of Liberty

A project of Liberty Fund, Inc.

Search this Title:

Also in the Library:

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

Edition used: