State of the Union AddressesPolk, James K. (James Knox)
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State of the Union Addresses
Polk, James K. (James Knox)
Presidents -- United States -- Messages; United States -- Politics and government -- Sources
The receipts into the Treasury for the same period amounted to
$26,346,790.37, of which there was derived from customs $23,747,864.66,
from sales of public lands $2,498,335.20, and from incidental and
miscellaneous sources $100,570.51. The last fiscal year, during which this
amount was received, embraced five months under the operation of the tariff
act of 1842 and seven months during which the tariff act of 1846 was in
force. During the five months under the act of 1842 the amount received
from customs was $7,842,306.90, and during the seven months under the act
of 1846 the amount received was $15,905,557.76.
The net revenue from customs during the year ending on the 1st of December,
1846, being the last year under the operation of the tariff act of 1842,
was $22,971,403.10, and the net revenue from customs during the year ending
on the 1st of December, 1847, being the first year under the operations of
the tariff act of 1846, was about $31,500,000, being an increase of revenue
for the first year under the tariff of 1846 of more than $8,500,000 over
that of the last year under the tariff of 1842.
The expenditures during the fiscal year ending on the 30th of June last
were $59,451,177.65, of which $3,522,082.37 was on account payment of
principal and interest of the public debt, including Treasury notes
redeemed and not funded. The expenditures exclusive of payment of public
debt were $55,929,095.28.
It is estimated that the receipts into the Treasury for the fiscal year
ending on the 30th of June, 1848, including the balance in the Treasury on
the 1st of July last, will amount to $42,886,545.80, of which $31,000,000,
it is estimated, will be derived from customs, $3,500,000 from the sale of
the public lands, $400,000 from incidental sources, eluding sales made by
the Solicitor of the Treasury, and $6,285,294.55 from loans already
authorized by law, which, together with the balance in the Treasury on the
1st of July last, make the sum estimated.
The expenditures for the same period, if peace with Mexico shall not be
concluded and the Army shall be increased as is proposed, will amount,
including the necessary payments on account of principal and interest of
the public debt and Treasury notes, to $58,615,660.07. On the 1st of the
present month the amount of the public debt actually incurred, including
Treasury notes, was $45,659,659.40. The public debt due on the 4th of
March, 1845, including Treasury notes, was $17,788,799.62, and consequently
the addition made to the public debt since that time is $27,870,859.78.
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