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I am satisfied also that the practice of certifying checks, even when funds are in the bank to the credit of the drawer of the check, is fraught with evil, and that it ought to be entirely prohibited.

The following statement exhibits the receipts and expenditures for the fiscal year ending June 30, 1869:

RECEIPTS.
Customs....

$180,048,426 63 Internal revenue.

158,356,460 86 Lands ...

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4,020,344 34 Direct tax.-..

765,685 61 Miscellaneous sources.

27,752,829 77 Total, exclusive of loans...

370,943,747 21
EXPENDITURES.
Civil service and miscellaneous.. $56,474,061 53
Pensions and Indians.

35,519,544 84
War Department..

78,501,990 61
Navy Department..

20,000,757 97
Interest on the public debt...... .. 130,694,242 80
Premium on 7 3-10 United States
treasury notes....

300,000 00
Total, exclusive of loans.....

321, 490, 597 75

Receipts in excess of expenditures...

49, 453, 149 46

The following statement exhibits the receipts and expenditures for the quarter ending September 30, 1869:

RECEIPTS.
Customs ...

$52, 598, 921 86 Internal revenne

47,926, 352 51 Lands.....

893, 864 08 Miscellaneous sources

7, 412, 483 57 Total, exclusive of loans ...

108, 831, 622 02
EXPENDITURES,
after deducting the amount of repayments by disburs-

ing officers and others :
Civil service and miscellaneous...... $15, 102, 202 05
Indians and pensions.

13, 547, 942 79
War Department ....

13,595, 468 05 Navy Department..

5, 782, 630 96 Interest on the public debt...

37, 452, 270 74 Total, exclusive of loans

85, 480, 514 59

Receipts in excess of expenditures .........

23, 351, 107 43

The estimated receipts and expenditures for the three remaining quarters of the fiscal year ending June 30, 1870, are as follows:

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EXPENDITURES.
Civil service and miscellaneous.... $40,000,000 00
Pensions and Indians .

21, 000, 000 00 War Department

40, 500,000 00 Navy Department..

14, 000, 000 00 Interest on the public debt...

93, 750, 000 00

Total ....

209, 250, 000 00

Estimated receipts in excess of expenditures...

76, 750, 000 00

Estimated receipts and expenditures, based upon existing laws, for the fiscal year ending June 30, 1871:

RECEIPTS.

Customs ..
Internal revenue.
Lands ....
Miscellaneous sources

$185,000,000 00 175, 000, 000 00

5,000,000 00 28, 000, 000 00

Total ....

393, 000, 000 00

EXPENDITURES. Civil service and miscellaneous..

$60,000, 000 00 Pensions and Indians

36, 000, 000 00 War Department.

50, 000, 000 00 Navy Department

18, 000, 000 00 Interest on the public debt

127, 000, 000 00

Total ....

291, 000, 000 00

Estimated receipts in excess of expenditures .. 102, 000, 000 00

The foregoing estimates of receipts are made upon the assumption that the laws now in force relativg to customs and internal revenue will not be so changed as to materially affect the revenues, and the estimates of expenditures are based upon the expectation that no extraordinary appropriations will be made.

GEO. S. BOUTWELL,

Secretary of the Treasury. Hon. JAMES G. BLAINE,

Speaker of the House of Representatives.

Statement of the indebtedness of

Acts authorizing loans, and synopsis of same.

The

Acts of July 21, 1841, Authorized a loan of $12,000,001, bearing interest at a rate not exceeding 6 per and April 15, 1842. cent. per annum, and reimbursablo at the will of the Secretary, after six

months' notice, or at any time after three years from January 1, 1842
act of April 15, 1842, authorized the loan of an additional sum of $5,000,000,
and made the amount obtained on the loan after the passage of this act reim-
bursable after six months' notice, or at any timo not exceeding twenty years
from January 1, 1843. This loan was made for the purpose of redeeming

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outstanding treasury notes, and to defray any of the public expenses. Act of Jan. 28, 1847... Authorized the issue of $23,000,00) in treasury notes, bearing interest at a rato

not exceeding 6 per cent. per annum, with authority to borrow any portion of the amount, and issue bonds therefor, bearing interest at a rate not exceeding 6 per cent., and redeemable after December 31, 1867. The 13th section authorized the funding of these notes into bonds of the same description. The act limited the amount to be borrowed or issued in treasury notes and funded as aforesaid to $23,000,000, but authorized the funding of treasury notes issued under former acts beyond that amount. The excess of the

$23,000,00) is made up of treasury notes funded under the 14th section. Act of March 31, 1848. Authorized a loan of $10,000,000, bearing interest at a rate not exceeding 6 per

cent. per annum, and reimbursable at any time after twenty years from July 1, 1848. Authority was given the Secretary to purchase the stock at any

time. Act of Sept. 9, 1850... Authorized the issue of $10,000,00) in bonds, bearing 5 per cent. interest, and

redeemable at the end of fourteen years, to indemnify the State of Texas for her relinqnishment of all claims upon the United States for liability of the debts of Texas, and for compensation for the surrender to the United States of her ships, forts, arsenals, custom-houses, &c., which became the property

of the United States at the time of annexation. Old funded and un- Consisting of unclaimed dividends upon stocks issued before the year 1800, and funded debts.

those issued during the war of 1812. Aots prior to 1857 Different issues of treasury notes.. Act of Dec. 23, 1857 Authorized an issue of $20,00 1,000 in treasury notes, bearing interest at a rate

not exceeding 6 per cent. per annum, and receivable in payment of all public dues, and to be redeemed after the expiration of ono year from date of said

notes. Act of June 14, 1858.. Authorized a loan of $20,000,000, bearing interest at a rate not exceeding 5 per

cent. per annum, and reimbursable at the option of the government at any

time after the expiration of fifteen years from January 1, 1859. Act of June 22, 1860.. Authorized a loan of $21,000,00, bearing interest at a rate not exceeding 6 per

cent. per annum, and reimbursable within a period not beyond twenty years, and not less than ten years, for the redemption of outstanding treasury notes,

and for no other purpose. Act of Dec. 17, 1860... Authorized an issue of $10,400,000 in treasnry notes, to be redeemed after the

expiration of one year from the date of issue, and bearing such a rate of interest as may be offered by the lowest bidders. Authority was given to issue these notes in payment of warrants in favor of public creditors, at their

par value, hearing 6 per cent. interest per annum. Act of Feb. 8, 1861.... Authorized a loan of $25,000,000, bearing interest at a rate not exceeding 6 per

cent. por annum, and reimbursable within a period not beyond twenty years, nor less than ien years. This loan was made for the payment of the current

expenses, and was to be awarded to the most favorable bidders. Act of March 2, 1861. Authorized a loan of $10,000,00, bearing interest at a rate not exceeding 6 per

cent. per annum, and reimbursable after the expiration of ten years from Jnly 1, 1861. In caso proposals for the loan were not acceptablo, authority was given to issue tho whole amount in treasury notes bearing interest at a rate not exceeding six per cent. per annum. `Authority was also given to substitute treasury notes for the whole or any part of the loans, for which the Secretary was by law authorized to contr.ct and issue bonds at the time of the passage of this act, and such treasury notes were to be made receivablo in payment of all public dues, and redeemable at any time within two years

from March 2, 1861. Act of March 2, 1861. Authorized an issue, shonld the Secretary of the Treasury deem it expedient,

of $2,800,000 in coupon bonds, bearing interest at the rate of 6 per cent, per annum,

and redeemable in twenty years, for the payment of expenses incurred by the Territories of Washington and Oregon in the suppression of Indian

hostilities during the years 1835 and 1856. Acts of July 17, 1861, Authorized a loan of $250,400,000, for which could be issued bonds bearing. and August 5, 1861. interest at a rato not exceeding 7 per cent. per annum, irredeemablo for

twenty years, and after that redeemable at the pleasure of the United States; treasnry notes bearing interest at the rate of 7.30 per cent. per annum, pay. able three years after date, and United States notes

without interest, payable on demand, to the extent of $5 1,000,000, (increased by act of February 12, 1862, to $69.000.000,) to bonds and treasury notes to be issued in such propor tions of each as the Secretary may doom advisable. The supplementary act of August 5, 1861, authorized an issue of bonds bearing 6 per cent. interest

the United States, June 30, 1869.

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Statement of the indebtedness of

Acts authorizing loans, and synopsis of same.

Acts of July 17, 1861, per annum, and payable at the pleasure of the United States after twenty years

and August 5, 1861 from date, which may be issued in exchange for 7.30 treasury notes, but no Continued.

such bonds to be issued for a less sum than $500; and the whole amount of

such bonds not to exceed the whole amount of 7.30 treasury notes issued. Act of Feb. 25, 1862... Authorized the issue of $500,000,000 in 6 per cent. bonds, redeemable aster five

years, and payable twenty years from date, which may be exchanged for United States notes. Also, Authorized the issue of not over $11,000,000 additional of similar bonds, to

meet subscriptions already made and paid for. June 30, 1864.

On hand unsold in the United States or Europe. January 28, 1865.. Act of Feb. 25, 1862. Authorized the issue of $150,000,000 in legal-tender U. S. notes, $50,000,000 of

which to be in lieu of demand notes issued under act of July 17, 1861. Act of July 11, 1862.. Authorized an additional issue of $150,000,000 legal-tender notes, $35,000,000 of

which might be in denominations less than five dollars ; $50,000,000 of this

issue to be reserved to pay temporary loans promptly in case of emergency: Resolution of Con. Authorized the issue of $100,000,000 in United States notes for the immediate

gress, January 17, payment of the army and navy, such notes to be a part of the amount pro1863.

víded for in any bill that may hereafter be passed by this Congress. (The

amount in this resolution is included in act of March 3, 1863.) Act of March 3, 1863. A further issue of $150,000,000 in United States notes, for the purpose of con

verting the treasury notes which may be issued under this act, and for no other purpose. And a further issue, if necessary, for the payment of the army and navy, and other creditors of the government, of $150,000,000 in United States notes, which amount includes the $100,000,000 authorized by

the joint resolution of Congress, January 17, 1863. Act of April 12, 1866.. Provided, That of the United States notes, not more than ten millions of dollars

may be retired and canceled within six months from the passage of this act, and thereafter not more than four millions of dollars in any one

month : And provided further, That the act to which this is an amendment shall continue

in full force in all its provisions, except as modified by this act. Act of Feb. 25, 1862... Authorized a temporary loan of $25,000,000 in United States notes, for not less

than thirty days, payable after ten days' potice, at 5 per cent. interest per

annum. This was increased to $100,000,000 by the following acts.) March 17, 1862 Authorized an increase of mporary loans of $25,000,000, bearing interest at a

rate not exceeding 5 per cent. per annum. July 11, 1862. Authorized a further increase of temporary loans of $50,000,000, making the

whole amount authorized $100,000,000. Act of June 30, 1864.. Authorized the increase of temporary loans to not exceeding $150,000,000, at a

rate not exceeding 6 per cent. Act of March 3, 1863. Authorized a loan of $300,000,000 for this, and $600,000,000 for the next fiscal

year, for which could be issued bonds running not less than ten nor more than forty years, principal and interest payable in coin, bearing interest at a rate not exceeding 6 per cent. per annum, payable in bonds not exceeding $100 annually, and on all others semi-annually, the whole amount of bonds,

treasury notes, and United States notes, issued under this act, not to exceed Act of June 30, 1864.. the sum of $900,000,000. And so much of this act as limits the loan to the

current fiscal year is repealed by act of June 30, 1864, which also repeals the authority to borrow money conferred by section 1, except so far as it may

affect $75,000,000 of bonds already advertised. Act of March 3, 1863.. And treasury notes to the amount of $400,000,000, not exceeding three years to

run, with interest at not over 6 per cent. per annum, principal and interest payable in lawful money, which may be made a legal-tender for their face value, excluding interest or convertible into United States notes. Secretary may receive gold on deposit and issue certificates therefor, in sums not less

than twenty dollars. Act of March 3, 1864.. Authorizes the issue of bonds not exceeding $200,000,000, bearing date March 1,

1864, or any subsequent period, redeemable at the pleasure of the government after any period not less than five years, and payablo at any period not more than forty years from date, in coin, bearing interest not exceeding 6 per cent. yearly, payable on bonds not over one hundred dollars annually, and on all

other bonds semi-annually, in coin. Act of March 1, 1862.. Authorized an issue of certificates of indebtedness, payable one year from

dato, in settlement of audited claims against the government. Interest 6 per

cent. per annum, payable in coin; and by Act of March 3, 1863.. Payable in lawful currency on those issued after that date. Amount of issue

not specified. Act of July 17, 1862 .. Authorized an issue of notes of the fractional parts of one dollar, receivable in

payment of all dues, except customs, less than five dollars, and exchangeable for United States notes in sums not less than five dollars. Amount of issue

not specifiod. Act of March 3, 1863.. Authorized an issue not exceeding $50,000,000 in fractional currency, (in lieu

of postage or other stamps,) exchangeable for United States notes in sums not less than three dollars, and receivable for any dues to the United States less

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