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cable to the Sinking Fund, and remaining on the 1st of January, 1816,
4,630,381 42 And the Appropriation for the year 1816, was...... 8,000,000 00
Dollars... 12,630,381 42 Of which there was expended, to the 30th of June, 1816 ..........
9,354,762 62 And the probable demand, to the 1st of January, 1817, inclusive, is...... 4,218,360 00
Leaving a Deficit, which must be supplied as soon as the next Session of Congress opens, amounting to
Another item will be added to the Public Debt, by the creation of the 5 per cent Stock, in payment of the Shares held by the Government in the capital of the Bank of The United States. And it may be proper to bring into view the Mississippi Stock, created upon the settlement of what are usually called “ the Yazoo Claims,” amounting, on the 30th of August, 1816, to the sum of 4,241,725 80. It will be observed, however, that the 5 per cent Stock is, effect, an exchange for another capital, producing probably, a higher rate of interest; and that the Mississippi Stock bears no interest, and is only eventually reimbursable out of the proceeds of the Sales of Public Lands.
For the payment of the Interest both of the Old and New Debt, and for the reimbursement of the instalment of the principal of the Old Debt, due on the 1st of October next, provision has been made by the Treasury. Remittances have also been made to the Bankers of The United States in London and Amsterdam, for the payment of the Interest on the Louisiana Stock, payable at those places, respectively, on the 1st of July, 1816, and the 1st of January, 1817. And, so far as depends upon this Department, Funds have been supplied to meet all the demands upon the Government of The United States, on the various General Accounts which are open there,
For the Interest on the Louisiana Stock;
IV. Of the Miscellaneous Business of the Department. The several important objects confided to the Department, independent of its merely Fiscal Duties, have received attention. Without entering into a minute enumeration of them, the following are proper to be selected for notice.
1. The Survey of the Coast.— The necessary instruments having been procured, Mr. Hassler has been employed as the Superintendant of the work, upon the principles and terms stated in his Letter of Instructions, dated the 3rd of August, 1816.
2. The Road from Cumberland to the Ohio.—The course of the road having been confirmed by the President, from Cumberland to Union Town, thence to Brownsville, thence through Washington and Alexandria to Wheeling, Colonel Elie Williams bas been employed to survey and locate the road from Brownsville to Wheeling, as well as to examine the deviations which have been made by Mr. Shriver, from the route originally proposed by the Commissioners. Several plans have also been suggested for dividing the road into sections, and for expediting the work. But the difficulties which have arisen, require immediate care and attention; and may be traced in the Correspondence between the Department, and Colonel Williams and Mr. Shriver.
3. The Custom-House Establishments.—The 8th Section of the Act of the 30th April, 1816, has appropriated 250,000 dollars for Custom house Establishments, upon a suggestion from this Department to the Committee of Ways and Means, with a view to the accommodation of the 5 principal Commercial Cities; to wit, Boston, New York, Philadelphia, Baltimore, and Charleston. The only Establishment previously owned by the Government, was the Custoin-house at New Orleans.
From the Correspondence with the respective Collectors, and Reports which have been made to the President, it will appear :
That the Purchase of a Custom-house at Boston has cost ....
29,000 00 That a Purchase has been authorized at New York, at a price not exceeding
55,000 00 That a Purchase has been authorized at Philadel. phia, at a price, for the Site and the Buildings to be erected, which will probably amount to.
Dollars...... 149,000 00 That a Negotiation has taken place with the Trustees for building an Exchange at Baltimore, who offer to erect and convey to the Government a suitable Es. tablishment, being part of the Exchange, for ..... 70,000 00
And that a Site and Building may be purchased at Charleston, for the sum of
269,000 00 250,000 00
But the Appropriation only amounts to
Dollars... 19,000 00
Upon this Statement, it is proposed to suspend the purchase at Baltimore, until an additional Appropriation can be obtained; but to complete the purchase of the Establishments in New York, Philadelphia, and Charleston, upon an enlarged scale, more adequate to the growing commerce of those Cities.
4. The Legislative Calls for Information.--Several Resolutions were passed during the last Session of Congress, requiring information at the next Session upon various subjects; and arrangements have been made to enable the Department to report. The Resolutions and Correspondence on file will furnish the particulars.
5. The Case of Hoyt, v. Gelston, et al.-In consequence of Instructions issued from the Treasury Department, by authority of the President, the Collector and Surveyor of the Port of New York seized the Ship called the American Eagle, under the charge of being illegally armed and equipped within the United States, for the purpose of waging hostilities against a friendly Foreign Power. Upon a Trial in the District Court of New York, the Vessel was ordered to be restored, and the Judge refused to grant a Certificate that there was a probable cause of seizure. The Owner brought an Action of trespass against the seizing Officers in the State Court, and recovered damages to the amount of 107,369 dollars 43. The Cause has been transferred by order of the President, from the Court of Errors in New York, to the Supreme Court of The United States, where it is now depending for a final Judgment; and probably the Judgment will be rendered at February Term next.
As the Collector and Surveyor acted in obedience to their orders, they appear to be entitled to an indemnity from the Government. The subject was, therefore, submitted to the Committee of Ways and Means at the last Session; and a Report was made by the Committee, in favour of the proposed indemnity. It is important that the Report should be taken up and decided early in the next Session. All the facts and proceedings in the Case, may be traced in the Report of this Department to the Senate during the Session ending in 1815; and in the Report made to the Committee of Ways and Means, during the Session ending in 1816.
6. The Direct Tax of Georgia.—The Legislature of Georgia assumed the quota of the direct tax imposed upon that State for 1816; but the Governor did not give notice of the assumption within the period prescribed by Law, although the amount of the tax was remitted to the Treasury, in certain drafts, before the day fixed for paying it, in order to entitle the State to the abatement of 15 per cent. Under these circumstances, the gross amount of the quota has been paid into the Treasury, subject to the relief which Congress may hereafter provide. All which is respectfully submitted.
A. J. DALLAS. Treasury Department, 20th September, 1816.
P. S.-The Secretary of the Treasury has the honor to add, that certain occurrences, happening since the foregoing Report was presented, merit observation :
Ist. The situation of the public credit and resources at Boston, has enabled the Treasury to discharge the Loan of 500,000 dollars, long due to the State Bank, in the following manner: By a Draft for Cash, amounting to
130,000 By a Draft for Treasury Notes of the new emission, bearing Interest, at their par value ...
2nd. The situation of the Treasury has authorized an additional Notice, for the payment of Treasury Notes payable in New York.
3rd. The existing prospect justifies au expectation, that the Treasury will be able to pay all its engagements in the Eastern States, with the local currency, before the expiration of the present year.
A. J. DALLAS. Treasury Department, 30th September, 1816.
SPEECH of His Royal Highness the Prince of Wales,
Reyent, on the Closing of the British Parliament.--12th
I cannot close this Session of Parliament, without renewing my expressions of deep regret at the continuance of His Majesty's lamented Indisposition.
The diligence with which you have applied yourselves to the consideration of the different objects which I recommended to your attention at the commencement of the Session, demands my warmest acknowledgements; and I have no doubt that the favourable change which is happily taking place in our internal situation, is to be mainly ascribed to the salutary measures which you have adopted for preserving the Public Tranquillity, and to your steady adherence to those principles, by which the Constitution, resources, and credit of the Country have been hitherto preserved and maintained.
Notwithstanding the arts and industry which have been too successfully exerted, in some parts of the Country, to alienate the affec.tions of His Majesty's Subjects, and to stimulate them to acts of violence and insurrection, I have had the satisfaction of receiving the most decisive proofs of the Loyalty and Public Spirit of the great body of the People; and the patience with which they have sustained the most severe temporary distress, cannot be too highly commended.
I am fully sensible of the confidence which you have manifested towards me, by the extraordinary Powers which you have placed in my hands; the necessity which has called for them is to me matter of deep regret; and you may rely on my making a temperate, but effectual use of them, for the protection and security of His Majesty's loyal Subjects. Gentlemen of the House of Commons,
I thank you for the Supplies which you have granted to me; and for the laborious investigation which, at iny recommendation, you have made into the state of the Income and Expenditure of the Country.
It has given me sincere pleasure to find that you have been enabled to provide for every Branch of the Public Service, without any addition to the burthens of the People.
The state of Public Credit affords a decisive proof of the wisdom and expediency, under all the present circumstances, of those Financial arrangements which you have adopted.
I have every reason to believe, that the deficiency in the Revenue is, in a great degree, to be ascribed to the unfavourable state of the last season; and I look forward with sanguine expectations to its gradual improvement. My Lords and Gentlemen,
The Measures which were in progress at the commencement of the Session, for the issue of a new silver coinage, have been carried into execution in a manner which has given universal satisfaction; and to complete the system which has been sanctioned by Parliament, a gold coinage, of a new denomination, has been provided for the convenience of the Public.
I continue to receive from Foreign Powers the strongest assurances of their friendly disposition towards this Country, and of their desire to preserve the general tranquillity.
The prospect of an abundant harvest throughout a considerable part of the Continent, is in the highest degree satisfactory. This happy dispensation of Providence cannot fail to mitigate, if not wholly to remove, that pressure under which so many of the Nations of Europe have been suffering in the course of the last year; and I trust that we may look forward, in consequence, to an improvement in the commercial relations of this and of all other Countries.
I cannot allow you to separate without recommending to you, that upon your return to your several Counties, you should use your utmost endeavours to defeat all attempts to corrupt and mislead the lower classes of the Community; and that you should lose no opportunity of inculcating amongst them that spirit of concord and obedience to the Laws, which is not less essential to their happiness, as individuals, than it is indispensable to the general welfare and prosperity of the Kingdom.