For the sale of 2,220 shares of the Bank of the United States to obtain guilders for payment of the Dutch debt, see TJ to Gallatin, 7 Oct.

total expenditures: the sum of the line items as Gallatin listed them is $13,587,234.72. The figure of $13,586,934.72 is presumably correct, however, because changing it would put expenditures and receipts out of balance. It seems most likely that Gallatin made a transcription error when he copied one of the amounts for expenditures.

prize money: during the undeclared war with France, if a U.S. Navy ship captured a vessel “of equal or superior force,” the prize was “the sole property of the captors,” but if the prize was of “inferior force,” the United States got half the proceeds (NDQW description begins Dudley W. Knox, ed., Naval Documents Related to the Quasi-War between the United States and France, Naval Operations, Washington, D.C., 1935-38, 7 vols. (cited by years) description ends , Dec. 1800–Dec. 1801, 312–13, 471).

For an example of protested bills of exchange on Amsterdam in significant amounts, see Vol. 37:198.

comparative view on gain: although the figures vary slightly, Gallatin based his report to Congress on the state of the Treasury on conclusions drawn here. After reviewing receipts and expenditures for the year and estimating costs for 1803, Gallatin stated that the balance of specie in the Treasury had increased from $2,948,718.73 on 1 Oct. 1801 to $4,539,675.57 on 1 Oct. 1802, a difference of $1,590,675.84 in favor of the Treasury. When the payment of $4,152,869.66 on the principal of the public debt was added to that amount, the actual difference in favor of the United States was more than $5,740,000. If expenditures were kept within limits, Gallatin concluded, no new source of public revenues would be required in 1803. Gallatin attached to the report a statement on revenues from duties on imports for the last two years, a statement on the sale of public lands during the preceding year, signed by Joseph Nourse and dated 6 Dec. 1802, and proceedings of the 7 June 1802 meeting of the sinking fund commissioners, respecting the sale of Bank of the United States shares and payment of the Dutch debt. Gallatin completed the report and dated and signed transmittal letters to the speaker of the House and the president of the Senate on 16 Dec. (MS in DNA: RG 233, RCSH, 7th Cong., 2d sess., in a clerk’s hand, with report signed and dated by Gallatin; MS in DNA: RG 46, LPRC, 7th Cong., 2d sess., in a clerk’s hand, with report signed and dated by Gallatin; printed in ASP description begins American State Papers: Documents, Legislative and Executive, of the Congress of the United States, Washington, D.C., 1832-61, 38 vols. description ends , Finance, 2:5–9). Both the House and the Senate received the Treasury Department report on Monday, 20 Dec. The Senate ordered it printed and the House referred it to the Committee of Ways and Means (JS description begins Journal of the Senate of the United States, Washington, D.C., 1820-21, 5 vols. description ends , 3:247; JHR description begins Journal of the House of Representatives of the United States, Washington, D.C., 1826, 9 vols. description ends , 4:254). William Duane printed the documents for the House committee as a Letter from the Secretary of the Treasury, Accompanying His Report, Prepared in Obedience to the Directions of the Act, Supplementary to the Act Intituled “An Act to Establish the Treasury Department” (Washington, D.C., 1802; Shaw-Shoemaker description begins Ralph R. Shaw and Richard H. Shoemaker, comps., American Bibliography: A Preliminary Checklist for 1801-1819, New York, 1958-63, 22 vols. description ends , No. 3323).