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FINANCES AND RESOURCES OF THE UNITED STATES

COMPARED WITH THOSE OF

GREAT BRITAIN IN CORRESPONDING CONDITIONS.

EMBRACING-Annual Interest, Average Rate of Interest, and Amount of Public Debt outstanding on 1st July, 1862.-Public Debt, funded and unfunded, on 7th March, 1861; Payments on account of Old Debt by the present Secretary; Average Increase per diem to July 1, 1862; Rebellion Expenses. -Permanent (Twenty-year) Loans of the present Secretary sold under the par of six per cent. to July 1, 1862, compared with Old Loans sold at discount, reduced to equivalent of par Six Per Cents. ---National Debt of France, England, and United States.-Increase of British Debt, at certain periods.-Price of Stocks; Old United States, New United States, and British Government Stocks compared.-Premium on Gold; the period of the Southern Rebellion compared with that of the British War with Bonaparte and the United States.-British Army, Navy, and Ordnance Expenses in the last four years of war with Bonaparte and the United States.-Income and Expenditure of British Government in the last four years of war with Bonaparte and the United States, compared with Income and Expenditure of the United States.-Valuation of Real and Personal Property according to Census of 1850 and 1860, with the rate of increase.-Property of the United States during Fifty Years, with corresponding table of property in Great Britain and Ireland.-Products of Capital and Labor in United States in the years 1839, 1849, and 1859.

(Prepared for the National Almanac by Dr. William Elder, of the Treasury Department.)

FINANCES.-TABLE NO. 1.

ANNUAL INTEREST, AVERAGE RATE OF INTEREST, AND AMOUNT OF PUBLIC DEBT OUTSTANDING

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Average rate of Interest on Debt created from March 7, 1861, till July 1, 1862...... 4.2
NOTE-For Loan of November 14, 1862. see Table No. 6.

FINANCES.-TABLE No. 2.

PUBLIC DEBT, FUNDED AND UNFUNDED, ON MARCH 7, 1861.-PAYMENTS ON ACCOUNT OF OLD DEBT BY THE PRESENT SECRETARY.—AVERAGE INCREASE PER DIEM TO JULY 1, 1862.-REBELLION EXPENSES.

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The present Secretary has paid on account of principal of old funded Debt on principal of Treasury Notes.... Interest upon $15,961,050 Old Treasury Notes.....

$59,696,956 16,462,711

$76,159,667

$ 1,000 15,968,276 4,815,684

......................

Add Interest upon Old Treasury Notes received in payment of public dues, not
ascertained, say.

Total payment on account of old Debt redeemed.
Total Interest paid on old Debt unredeemed.............

Total paid by present Secretary on account of old Debt..

.......

Debt created since March 7, 1861 (see Table No. 1).......
Less paid by present Secretary on account of old Debt.........
Balance in Treasury July 1, 1862..

From March 7, 1861, to July 1, 1862....

..........

40,000

$20,824,945

4,369,236

$25,194,181

$451,456,868

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$25,194,181
7,177,828 32,372,009

.480 days ) $419,084,859
$873,093

NOTE. It is here assumed that the receipts from Customs, Lands, and miscellaneous sources exactly meet the ordinary expenditures of the Government. The difficulty of separating the peace expenses of the War and Navy departments from their totals reported makes it necessary to estimate them. The ordinary revenue of the period was in fact less than the ordinary expenditure.

FINANCES.-TABLE NO. 3.

PERMANENT (TWENTY-YEAR) LOANS OF THE PRESENT SECRETARY SOLD UNDER THE PAR op
SIX PER CENT. TO JULY 1, 1862.

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TABLE NO. 3.-Continued.

OLD LOANS SOLD AT DISCOUNT REDUCED TO EQUIVALENT OF PAR SIX PER CENTS.

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December, 1860, and January, 1861, 1 year Treasury Notes $6,272,700 at 11 and 12 per cent per annum.

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Interest on these Treasury Notes stopped by Secretary Chase in February, 1862.

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• For increase of British debt since 1775, see Table No. 5.

The average value of the pound sterling or sovereign at the United States Mint is $4.84.8; the new Sovereign, $4.86.3.

• Increase of French debt for year ending January 1, 1857, $115,000,000. The exact increase in the last five years not ascertained, but the data indicate at least $500,000,000.

The population in 1862 obtained by Tucker's rule,-3 per cent. per annum added to number given in the last Census Report.

The total population given in all instances,-slaves being treated as wealth-producers and wealthconsumers.

The Loyal States (West Virginia included) had in 1860 a population of 22,328,133.

The State debts of the Loyal States in 1860 are stated at 1664 millions in the aggregate. The interest averages 612 per cent. per annum.

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• England at war with United States July, 1774, till November, 1782; with France, February, 1778, till January, 1782; with Spain, April, 1780, till January, 1783; with Holland, December, 1780, till September, 1783.

With Revolutionary France, February, 1793, till March, 1802.

e With Bonaparte, April, 1803, till June 18, 1815; with the United States, June, 1812, till December, 1814.

d of these forty years England was engaged in foreign wars twenty-nine years.

• In 1813 England raised in taxes 68.7 millions pounds, and 81.2 millions in loans, equal to 730 millions of dollars. The amount paid and expended within the year was 515 million dollars. The increase of the United States debt in 480 days-ending July 1, 1862-was 4351⁄2 millions,—an average of 331 millions a year, without income from taxes beyond the current expenditures of a time of peace. The expenditure of Buchanan's last year was 60 million dollars.

In 1815 the Exchequer bills issued and outstanding amounted to 414 millions, equal to 200 millions of dollars, in addition to the 231 millions of permanent loans.

Crimean War, 1854 till 1856.

A The lowest point touched since 1815.

The highest since 1826.

FINANCES.-TABLE No. 6.

PRICE OF STOCKS.-OLD UNITED STATES, NEW UNITED STATES, ANd British GovERNMENT STOCKS;

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