J94 



CONFEDERATE STATES. 



people by exciting large expectations, was a 

 great measure in favor of the European pow- 

 ers, as it practically annihilated any opposition 

 from the United States to their schemes and 

 plans. Mr. Davis, in his message of Nov. 7th, 

 says: 



It is not in my power to announce any change in 

 the conduct of foreign powers. No such action has 

 been taken by the Christian nations of Europe as 

 might justly have been expected from their history, 

 from the duties imposed by international law, and 

 from the claims of humanity. It is charitable to at- 

 tribute their conduct to no worse motive than in- 

 difference to the consequences which shake only the 

 republican portion of the American continent; and 

 not to ascribe to design a course calculated to insure 

 the prolongation of hostilities. 



The Public Debt. 



The public debt on the first of October, 1861 

 was as follows : 



FUNDED DEBT. 



Total issue of bonds and stocks $363,416,160 



Total issue of call certificates 197,578,370 



Total issue of certificates of indebtedness 19,010,000 



Total issue of produce certificates, act Apr! 21, 

 1862 $2,600,000 



Amount of 7-30 interest notes, which have as- 

 sumed the character of permanent bonds. 99,954,900 



Total $682,459,420 



Reduced by amount redeemed, to wit : 



Act May 16, 1861, principal $2,976,000 



Act Aug. 19, 1861, principal 1,267,700 



Call certificates, act Dec. 24, 1861, six 



per cent 70,729,030 



Call certificates, act March 23, 1863, 



A change took place in the Treasury Depart- ca^ceVtlfimesVact March as,' i's'eb', 70 ' 000 ' 000 



ment by the resignation of Mr. Memminger, four per cent 1,825,000 



and the appointment of Mr. G. A. Trenholm. 



Mr. Davis, in his message of Nov. 7th, refers to Total $541,340,090 



the report of the Secretary, saying : " The facts UNFUNDED DEBT. 



therein disclosed are far from discouraging, and Amount 8-63 interest notes outstanding $516,050 



demonstrate that, with judicious legislation, Total issue of treasury notes old 



we shall be enabled to meet all the exigencies Ke ^ s u u c e ed - -^ - t - -^ v - f - - r wrasses 



of the war from our abundant resources, and cancellation 640,947,945 



avoid, at the same time, such an accumulation , ^Efoon'?^ 



/. , i. -11 j Total issue treasury notes, new issue 283,830,150 



of debt as would render at all doubtful our ' ' 



Capacity to redeem it." Total funded and unfunded debt $1,149,896,108 



The operations of the Treasury for the six The Secretary says the foreign debt consist . 



months ending Oct. 1, 1864 present the fol- . of a &[ ^ ^ ig omit f ted . th ' e whole 



lowing details; receipts, $415,191,5oO. mmmt, being 2,200,000, is adequately pro- 



From four per cent registered bonds, act 17th vided for by the cotton owned by the Govern- 



From^perctn't: bonds,' Vsodooaooo 'ioa'n"ac't, $18 ' 363 ' 500 ment even at sixpence per pound, the quantity 



February 17, 1864. 14,481,050 being about 250,000 bales. 



From four per cent, call certificates, act nth In April, the note department of the Treas- 



r ebruary, 1864 20,9 1 8,100 i i /* i T_- ci ii/~i T 



From tax on old issue of certificates, redeemed. 14,440,566 Ury was removed to Columbia, bOUth Carolina. , 



From repayments by disbursing ofiicers 20,115,830 To increase the resources of the Government, 



Tsei?. 6 .' a . r fj. 277,576,950 *^ e following act was adopted in February : 



From lequetfration 4 l'338'732 SEC< 1< ^ Congress of ihe Confederate States of 



From customs'. ... ' 50^004 America do enact, that in addition to the taxes levied 



From export duty i!!!"!!.'!!!!"!!!"!"!!!!! 4^320 by the " act to lay taxes for common defence, and to 



From coin seized by authority of the Secretary carry on the Government of the Confederate States," 



of War 1,653.200 approved 24th of April, 1868, there shall be levied 



From premium on loans 4,822,249 fr om the passage of this act, on the subjects of taxa- 



From soldiers' tax. 908,622 tion here fter & men tioned, and collected from every 



TJT i^ person, copartnership, association or corporation 



zxper res. f iable therefor> taxes as follows, to wit : 



The expenditures during the same period are I. Upon the value of property, real, personal, and 



as follows : mixed, of every kind and description, not herein- 

 after exempted or taxed at a different rate, five per 



NaTv Demrtoent 15 554802 cent ' K That from this tax on the value of 



Customs '28585 property employed in agriculture shall be deducted 



Civil, miscellaneous,' and 'foreign 'm't'ercourse. ! '. .' 10,427^674 the value of the tax in kind delivered therefrom, as 



assessed under the law imposing it, and delivered to 



Total, $272,378,503 the Government ; Provided, That no credit shall be 



Public debt for payment of interest 10,772,883 allowed beyond five per cent. 



Public debt-for payment of principal 831,787,444 n Q^ gj e Talue of g i d an d silver wares and plate, 



Total . . $614,938,830 jewels, jewelry, and watches ten per cent _ 



The balance in the treasury on 1st April, 1864, HI. The value of property taxed under this section 



was , 308,282,722 shall be assessed on the basis of the market value of 



The amount received since is 415,191,550 the same, or similar property in the neighborhood 



where assessed in the year 1860, except in cases where 



T*jh*, V'i ^-V ^l??'nIo'?lA land, slaves, cotton, or tobacco have been purchased 



ict amount of expenditures. 614,938,880 gin( ^ tfae ^ day ' of Januar ^ 1862> in / hich case 



The Dalance in the treasury is . . $108 535 442 the said land, slaves, cotton and tobacco so purchased, 



, shall be assessed at the price actually paid for them 



ihe balance is made up as follows : by the owner. 



Treasury notes (new issue) and specie, ... . $22,153,203 . SEC " u 2 ' ? n * he , y alue f a11 slaTGS Or f?*^*!^ 



Treasury notes (old issue) to be cancelled 86 382 239 m anv bank, banking company, or association, canal, 



_________ navigation, importing, exporting, insurance, manu 



Total $108,535.442 facturing, telegraph, express, railroad, and dry-dock 



