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The receipts were carried into the treasury by 10,990 covering warrants; which is an increase of just 900 over the last year.

The payments were made on 27,510 authorized warrants, for the payment of which there were issued 30,752 drafts. In both of these two last items there is a falling off from last year.

The two preceding tables show the first the cash on hand at the commencement of the fiscal year, and the various amounts that were received and covered into the treasury by warrants issued and entered upon the books of the office within the fiscal year, including repayments and counter warrants; and in the second there appear such amounts as were paid out on warrants, and also including like amounts transferred by counter warrants, and of payments that were repaid as are included in the first table; and the balance of cash on hand at the close of the fiscal year.

These payments and repayments, and transfers by counter warrants, of amounts equal to each other, in most cases representing the same money, help to swell the aggregate amounts of both sides of the ledger beyond the actual receipts and disbursements. Then, too, they may contain warrants issued within the current year, but the money which they represent may have been received in the preceding or the succeed

ing fiscal year. The tables, therefore, do not show the precise amounts received or disbursed within the fiscal year commencing with July 1, 1868, and ending with June 30, 1869.

In other words, there are included in the items of "receipts," and also in those of "expenditures," in the foregoing statements of "payments" and "repayments," sums of money that had been paid out, and not having been used, in whole or in part, were returned by "covering warrants" into the treasury. So, too, moneys received from sales of stores, ships, munitions and materials of war, and of other property, no longer needed for the public service, have in like manner been covered into the treasury.

There have also been transferred from one appropriation to another, by "warrants and counter warrants," sums of money's equal in amounts, in the detail and in the aggregate. All such moneys were technically carried out of, and replaced in, the treasury, and thus enter into both sides of the warrant ledger account, and appear therein both as "receipts" and "expenditures." If these transfers were always what they purport to be, there would be no difficulty in stating both the receipts and the expenditures correctly, by simply deducting the amounts of such warrants from both sides of the account. But it not unfrequently happens that real receipts and payments constitute parts of the same warrant with mere transfers; and there is no way to segregate the one from the other. This practice should, to a correct stating and understanding of the accounts, be reformed.

The foregoing amounts include counter warrants and repayments of moneys unexpended.

The counter warrants amount to...

The amount returned from sales and unused money to.

Total as above

The counter warrants were issued on account of the

Army..

Navy..

Interior..

Customs.

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Foreign intercourse.

546, 437 34

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136, 457 06

35, 544 73 1, 821 06 207,975 15

3, 691 25

33, 719, 902 09

With these corrections of deducting all expenditures that were returned into the treasury as above, from both sides of the book account, the receipts and payments would be, as then represented by the warvant ledger, as follows:

ACTUAL RECEIPTS.

(As per warrants, less counter warrants.)

On account of loans ..

On account of internal revenue.

On account of miscellaneous sources.

$247, 519, 755 76 158, 086, 604 45 25, 204, 982 12

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If the payments and repayments were stated as in former years, when the avails of sales of stores, equipage and war material were included, the statement would be....

They are now for money returned only

Showing a difference of...

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$403, 119, 624 61 9, 018, 400 96

80, 474, 545 36 1, 488, 759 08 23, 561, 082 77 26, 171, 140 34 4, 961, 408 10

36, 316, 364 94 741, 276 65 500, 189 30 13, 551, 205 32

599, 903, 997 43 33, 719, 902 09 4, 422 90 155, 680, 340 85

789, 308, 663 27

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Or

Net amount of expenditures...

Amount transferred from Register.

Total.....

Net receipts, including Register's certificates...
Increase of cash balance deducted.....

$584, 777, 996 11 4, 422 90

584, 782, 419 01

$609, 628, 321 90

24, 845, 902 89

Total....

584, 782, 419 01

The actual receipts during the year ending June 30, 1869, as per ledger, were

Cash Dr.

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The actual disbursements during the year ending June 30, 1869, as

per ledger, were—

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The cash balance, struck after all the cash accounts had been received from the various offices of the treasury, was

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Everything in this world is comparative. No argument is so strong as that addressed to the eye. To give in this way a correct idea of the receipts and the expenditures of the government for the last nine years separately, and as compared with each other, the following tables are produced:

RECEIPTS BY WARRANTS.

These receipts, excluding all warrants that were issued for repayments, were—

In the year 1861...

In the year 1862.
In the year 1863..
In the year 1864.
In the year 1865..
In the year 1866.
In the year 1867.
In the year
1868.
In the year 1869..

Total receipts in nine years.

$83, 206, 693 56 581, 628, 181 26 888, 082, 128 05 1,389, 466, 963 41 1,801, 792, 627 51 1, 270, 884, 173 11 1, 131, 060, 920 56 1,030, 749, 516 52 609, 621, 828 27

8, 786, 493, 032 25

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