[Novem: 16. 1798 &] [undecipherable] [undecipherable] [undecipherable: Letter?] of the Secretary of the Treasury of the [United] States referred to the Sec'y of War — [to the Secretary in the [undecipherable] Bank licen[ce?] R.S.] [Transmitted to The Dep't of War —] [May not this be answered?] The Secretary of the Treasury in pursuance [strikethrough: of the] of the request contained in the letter from the Secretary of War dated the 14^th instant and with reference to the objects mentioned in the Document accompanying the same, submits the following view of the Finances of the United States. — Of the Revenue. The duties on Imports and Tonnage have produced in the Treasury the following sums — viz During the year 1795 . . Dols 5,588,961,28 During the year 1796 - - - 6,567,987,94 During the year 1797 . . . . 7,549,649, 65 During twelve months including the 1^st of Oct. 1798 ) 7,405,420, 86 It is presumed that notwithstanding the limitations on our Commerce, the before mentioned branch of Revenue, may be safely estimated at . . . . . . . . . . . Dols 7,000,000,— Our Duties on Domestic Distilled Spirits, Stills, Sales at Auction, Licences for selling Foreign [undecipherable: Spirits?] and Wines, by Patent, Refined Sugar, & Carriages have produced during the periods above mentioned the following sums — viz During the year 1795 . - Dols 337,235, 35 During the year 1796 - - - - 475,289, 60 During the year 1797 . . . . . 375,498, 45 During twelve months preceding the 1^st of Oct. 1798 . . - - ) 585,879, 67 It is estimated that including the product of the Stamp duties which began to be collected on the 7^th of July 1798, and of which no considerable sums had reached the Treasury by the 1^st of Oct. the before mentioned duties [strikethrough: may] produce annually the sum of . . . . . . . . 800. 000,— [undecipherable] from the Post Office . . — 50,000,— Fees on Letters Patent . . . . . . . . . . . . . . . . 400,— Dividends on Capital Stock of the Bank of the United States, belonging to the United States, calculated on 2220 Shares at 32 Dollars per Share - - 71,040,— Proceeds of that part of the Sinking Fund which consists of Interest on Stock purchased & redeemed . . . . . . . . . . . 89,457,— [undecipherable] Total annual value of the Branches of Revenue above mentioned . . . . ) 8011,897. 84 Of the Expenditure. The [underline: Interest] of the Foreign Debt is secured by a permanent appropriation, and [strikethrough: the] certain duties on Imports, by an Act passed on the 3^d of March 1797, are pledged to the payment of the principal of the said Debt. — The Instalments of [underline: principal] fall due in unequal sums annually from the present time, till the year 1809 when the whole debt [strikethrough: must] well be extinguished. — The Interest and certain reimbursements of the Domestic Funded Debts are secured by permanent appropriations — in the year 1801, a new charge in the Interest and extinguishing Annuity of the Deferred Debt, will [undecipherable] the Revenue amounting to Dols 1,146,370; and by the Act of Aug 4^th 1790, the sum of six hundred thousand Dollars of the proceeds of the Duties on Imports & Tonnage is annually reserved for defraying the expenses of Government. But notwithstanding the permanent charges upon the Revenue, will at no distant period very considerably increase, yet as [strikethrough: what] they may be provided for by additional [strikethrough: revenues], Taxes or duties, it is recommended to be prepared to [undecipherable] [the?] expenditures amounting to the best estimates which can now be formed for the ensuing year, — this expenditure inclusive of the Military & Naval Establishments, will be nearly as follows — For the Civil List — supporting the Expences of Congress, the entertain- ment [in?] towns . . . . . . . . Dols 463,000, Annuities & Grants . . . . . . . . . . . . . 2,500, Mint Establishment . . . . . . . . . . . . 12,000, Diplomatic Expenses . . . . . . . . . . 100,000, Military Pensions . . . . . . . . . . . . 110,000, Light Houses, exclusive of the expens- es of new erection . . . . . ) 40,000, Treaties with Barbary Powers - - - 100,000, Indian Expenses . . . . . . . . . . . . . 50,000, For Miscellaneous expenses, as the contingencies has proved and is in several instances will continue as contingent expenses of Government — grants by Congress, charges for the protection of American Seamen & the like will not be safe to calculate in the expenditure of them — 280,000, The [undecipherable: Permanent?] Appropriations for the Debt [of?] the United States are as follows — For the Foreign Debt in 1797 calculating at the rate of Exchange at 40 Cents [per Guilder?] [undecipherable] . . . . . . . . . . . . . . . . 676,401 For the Domestic Debt — . . . . . . 3,863,120,67 For Interest on temporary Loans — . 215,400, Making in the whole a permanent appropriation upon the scale of existing establishments, independent of the Military & Naval Establishments of — ) 5,034,821, 67 Which sum being deducted from the amount of Revenue before stated, will leave [strikethrough: us] to be applied to the support of the Military and Naval establishments or for the payment of the Interest and the reimbursement of new Loans, the annual sum of . . . . — Dols 2,977,076,17. The foregoing is stated as the permanent Revenue and permanent expenditure of the [strikethrough: two] United States, [strikethrough: not] relating to [the?] existing establishments, independent of the Military and Naval Establishments, [undecipherable] has [undecipherable] strictly the [undecipherable] case — Included in the Revenue from Imports & Tonnage is that product of a Duty of eight cents on each Bushel of imported Salt, which has been granted only [strikethrough] two years, after the 18^th of July 1797, & from thence to the end of the session of Congress [strikethrough] [strikethrough] [undecipherable] to extend foreign [strikethrough] & Wines, and on Carriages will moreover [undecipherable] [strikethrough] 1800 — These duties are and estimated at [undecipherable] hundred & ninety five thousand Dollars — [undecipherable] thousand. These duties should not be continued, the permanent Revenue [undecipherable] suffer a deficit [undecipherable] which is and [undecipherable] at [Four?] hundred to [thirty?] [five?] [thousand?] [undecipherable] against the [Collection?] [undecipherable] of national [undecipherable] to be safely [undecipherable] expected, — In order to place a full view of the revenue before [undecipherable], the following provisions made by Acts passed during the last [session?] of Congress ought to be [undecipherable], however to be considered. 1^st. The [product?] of a Direct Tax of [undecipherable: two millions?] of Dollars granted [undecipherable] Act [on?] the 14^th of July, with the power to anticipate [the?] [amount?] thereof by a temporary Loan, granted on the 15^th of July 1798. 2^d. The sum of [strikethrough: —] which may be obtained in consequence of the Act passed on the 15^th of July 1798 [authorizing?] [loans?] of [undecipherable: five?] millions of Dollars. As yet no progress has been made in [undecipherable] preliminary arrangements for collecting the Direct Tax as might have been expected and notwithstanding has yet occurred to render [undecipherable] probable that a considerable part of this Tax at least will be paid into the Treas'y in the course of the ensuing year — It is [undecipherable] certain that [undecipherable] revenue can be obtained on Loans, though on [terms?] less favorable than [undecipherable] have been heretofore [undecipherable], — it is believed however that the increased [undecipherable] expected to attend said Loans, ought not to be extended to a [undecipherable] of public credit, but only to the high value of money at the present time. But as the [strikethrough: temporary] revenues [strikethrough: arising?] expected from the Direct Tax & from Loans [undecipherable] ought to be opposed certain expenditures which will be required to fulfill the stipulations of the Treaty with Great Britain, & for objects [so?] provided for by appropriations which remain unsatisfied; these are not susceptible of any precise estimation, though it is certain that the amount will be considerable. To confirm & illustrate the several facts [strikethrough: stated] before [strikethrough: stated], the following [strikethrough: statements?] [undecipherable] hereto annexed. 1^st. a Report [undecipherable: presented by?] the Committee of Ways & Means, to the House of Representatives [undecipherable], on the 1^st of May 1798, [strikethrough: with which is] accompanied with Documents from the Treasury Department, on the 27^th of April last. 2^d. An Account of the Receipts & Expenditures of the United States, for one year prior to the 1^st of October, and a Statement of [strikethrough: certain] [strikethrough: undecipherable] appropriations which remained unsatisfied on the 14^th of Nov. 1798. J.D. Nov 16^th 1798