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Enclosure F: Comparative View of Annual Current Revenue & Expenditure, January 1795
F
Comparative View of Annual Current Revenue & Expenditure
| Permanent Revenue. | Dollars. | Dollars. | ||||
| Nett Duties on Imports & Tonnage as ascertained for the year 1793 ⅌ Account of Receipts & Expenditures for that Year | 6,087,546.26 | Interest on Foreign Debt as stated | 678,102 80 | |||
| deduct interest on installment of Foreign debt for 1795 to be paid out of proceeds of Foreign Loans | 39,622.22 | 638,480 58 | ||||
| Add product of additional duties on Imports laid by the Acts of the 5th.160 & 7th.161 June 1794 computed on the importations of 1793 | 1,091,872.32 | 7,179 418.58 | Interest on Funded Domestic Debt | 2,339,241 50 | ||
| Interest on unsubscribed debt computed according to contract | 66,031 10. | |||||
| 3,043,753 18 | ||||||
| Deduct for extra drawbacks, which would become payable after the year 1793 in consequence of extra importations of certain articles in that year which were reexported | 1,500,000. | Interest on temporary loans for anticipating the Revenue | 100,00. | |||
| Expences of Civil Department including foreign intercourse | 475,249 53 | |||||
| Deduct amount of temporary Duties on Imports | 1,479,626.91. | Expences of the Military department | 1,311,975.29. | |||
| 2,979,626.91 | including Pensions to Invalids | 85,357.04 | 1,397,332 33 | |||
| Permanent duties on Imports & Tonnage | 4,199,791 67 | Expences of Naval Department for a year | 441,508.80 | |||
| Duties on Spirits distilled within the United States and upon Stills | 400,000 | Expences of Light House and other establishments for the benefit of Navigation | 24,000. | |||
| 5,481,843.84 | ||||||
| Nett duties on postage of Letters as ascertained in 1793 | 29,722.16 | Excess of Revenue beyond the Expenditure (carried over) | 1,070,456 90 | |||
| Patent fees as they accrued in the same Year | 660. | |||||
| Dividends of Bank Stock beyond the interest payable to the Bank in 1793 | 38,500. | |||||
| Add interest of two installments which being paid off will increase the Dividend | 24,000 | 62,500. | ||||
| Total permanent Revenue | 4,692,673 83 | |||||
| Temporary Revenue | ||||||
| Duties on Imports as Stated above | 1,479,626.91 | |||||
| Estimated product of duties on Snuff manufactured and Sugar refined within the United States, Carriages for the conveyance of persons—Licenses for selling Wines & Spirits at Retail, Sales at Auction | 380, 000 | |||||
| Total Temporary Revenue | 1,859,626.91 | |||||
| Total annual current Revenue | 6,552,300.74 | 6,552,300.74 |
Treasury Department January 17. 1795
Alexander Hamilton
Secy of the Treasury
Result in the Year 1796 According to Fifth Proposition
| Surplus of Revenue brought forward | 1,070,456 | 90. | ||
| Increased interest on foreign Debt | 67,291.89 | |||
| Interest on New emission | 4,528 70 | |||
| 10 ⅌ Cent of Arrears of unfunded interest including indents | 48,309.53 | |||
| Yearly installment on account of 1,000,000 loan for foreign intercourse | 200,000. | |||
| Appropriations for Sinking Fund (Viz) | ||||
| Dividends of Bank Stock | 62,500. | |||
| Sum payable out of Imports and Tonnage for redemption of 6 ⅌ Cent Stock | 408,134.64 | |||
| Sum payable on the 1st. of January 1796 towards reimbursing of Bank Loan | 137,500. | 608,134.64 | 928,264 | 76 |
| Ballance being excess of Revenue beyond Expenditure | 142,192 | 14 |
| It appears by Statement E these extra appropriations will in the progress of the operation be reduced and that including a provision for the redemption of the deferred Debt the permanent charge on the Revenue (exclusive of Bank Dividends) for the sinking fund will be no more than | Dollars 452,891 & 42 Cents |
A Hamilton
Sey of the Treasy
View of the Probable Product of the Additional Duties on Imports Laid by the Act of June 7TH 1794.
| Amount of Duties calculated on importation of the two years | |||||||
| Articles on which duties are laid by the Act of June 7th. 1794. | Amount imported in 1792. | Amount Imported in 1793. | Rates | 1792 | 1793. | ||
| Coffee | pounds | 8.566.441 | 34.458.178. | at 1 Cent | 85.664 41 | 344.581 78 | |
| Cocoa | “ | 520.169 | 1.455.408. | “ 2 Cents | 10.403 38 | 29.108.16. | |
| Refined Sugar | “ | 225.680 | 400.000 | “ 5 Cents | 11.284— | 20.000. | |
| Clayed Sugar | “ | 91.237 | 3.739.775 | “ 1 Cent | 912 37 | 37.397.75 | |
| Miscellany being smaller enumerated | Articles | Various | 31.424 18 | 31.424.18 | |||
| Articles to which 5 ⅌ Ct are added | Value Dollars | 4.832.118 51/100 | 4.832.118 51/100 | 5 ⅌ Cent | 241.605 92 | 241.605.92 | |
| Articles to which 2½ ⅌ Ct. are added | Value Dollars | 15.510.183 81/100 | 15.510.183 81/100 | 2½ ⅌ Cent | 387.754 59 | 387.754.59. | |
| 769.048 85 | 1.091.872 32. | ||||||
| Difference between 1792 & 1793 is 322.833 Dollars 47 Cents which may be justly considered as an extra importation depending on peculiar & known circumstances of the War in Europe and which in all probability will be wholly drawn back in exportation. | |||||||
| The Proceeds of these Duties may therefore be thus stated | |||||||
| Amount Computed on the importation of 1792 | 769.048 85 | ||||||
| Deduct for usual Drawbacks on exportation & expences on collection 10 ⅌ Cent | 76.904 88 | ||||||
| Probable Nett Annual Product of Additional Duties | 692.143 97 | ||||||
☞ It is to be observed however that the considerable additions made upon the Miscellaneous Articles and upon refined Sugar will probably have prohibitory effect and that the items relative to them cannot be much counted upon.
A.H.
160. “An Act making further provision for securing and collecting the Duties on foreign and domestic distilled Spirits, Stills, Wines and Teas” (1 Stat. 378–81).
161. “An Act laying additional Duties on Goods, Wares and Merchandise imported into the United States” (1 Stat. 390–92).