Alexander Hamilton Papers
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Enclosure F: Comparative View of Annual Current Revenue & Expenditure, January 1795

Comparative View of Annual Current Revenue & Expenditure

Permanent Revenue. Dollars. Dollars.
Nett Duties on Imports & Tonnage as ascertained for the year 1793 per 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.
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 per 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 per 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 per Ct are added Value Dollars 4.832.118 51/100 4.832.118 51/100 5 per Cent 241.605 92 241.605.92
Articles to which 2½ per Ct. are added Value Dollars 15.510.183 81/100 15.510.183 81/100 per 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 per 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.


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).

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