FINANCES OF THE UNITED STATES. 



375 



The public debt, matured and maturing, 

 during the year, is, as before stated ] $163,863,820 09 



From this may be deducted, as likely to 1 

 be provided by new certificates of in- 

 debtedness I 75,000,000 00 



Add this sum to balance to be provided 

 for expenditures of the year, viz. : 



$88,853,320 09 

 482,374,188 02 



It makes whole amount to be provided: 

 from loans | $570,727,508 11 



But as this would include so much of thej 

 existing public debt as would be re- 

 deemed, exceeding certificates issueil 1 



within the year, viz. : 88,853,320 09 



i 



This sum is to be deducted from the 1 



amount to be obtained by loaus, viz., 1 



$570,727,508 11, showing the probable 



increase of the public debt during the 



yeartobe $482,874,188 02 



"Which added to 1,740,690,489 49 



"Would make the public debt on July 1st, 



1865., 



$2,223,064,677 51 



subject to such increase as may be occasioned should Con- 

 gress not provide for additional revenue, or should the in- 

 come from ordinary sources fall short of the estimates sub- 

 mitted. 



The increase of duties on imports has had 

 the effect to decrease importations to a consid- 

 erable extent ; this effect will be likely to con- 

 tinue. In view of this circumstance, the Sec- 

 retary estimates the receipts from customs for 

 the fiscal year ending June 30th, 1865, at only 

 $70,000,000. This disadvantage he considers 

 more than counterbalanced by the stimulus 

 afforded to domestic industry and the conse- 

 quent increased revenue from internal taxes. 

 The amount from this source, he says, will be 

 at least $250,000,000, and should be made to 

 reach $300,000,000. He therefore recommends 

 that a commission be properly constituted for 

 the purpose of inquiring as to profitable sources 

 of revenue, and devising improvements in the 

 mode of its collection. A commission of this 

 character in a country of sucli ( varied produc- 

 tion and among a people of such diverse in- 

 dustrial pursuits, would elicit much informa- 

 tion suitable to materially assist the delibera- 

 tions of Congress and lighten its labors on a 

 subject so new to legislative experience in this 

 country. 



The total amount of internal revenue re- 

 ceived from all sources to June 30th, 1864, 

 according to the report of the Commissioner, 

 was as follows : 



Eeceived by collectors $102,214,165 10 



Keceipts from banks, railroad companies, &c., 



paid directly to commissioner 7,017.547 03 



Keceipts from salaries 1,705,124 63 



Receipts from sale of stamps 5,894,945 12 



Receipts from passports through Department 



of State 10,513 00 



Receipts from suits on account of office 408 32 



Receipts from warrants of distress 7,967 22 



Total receipts, $116,850,672 44 



The amount of collections from each specific 

 source of revenue in each State, as compared 

 with the ten months ending June 30th, 1863, 

 is given as follows : 



The total amount of taxes collected on in- 

 comes other than that derived from being an 

 officer of the Government, was $14,919,279.58. 

 Of this New York paid $4,918,369.67; Penn- 

 sylvania, $2,035,166.03 ; Massachusetts, $1,- 

 904,732.03 ; Ohio, $1,117,691.18 ; Illinois, 

 $586,435, and California $580,327.01. The 



