ESTIMATES FOR THE YEAR ENDING JUNE 30, 1864.

The estimates for the current fiscal year 1864 are founded on actual receipts and disbursments for the first quarter, which ended September 30, 1863, and on opinions formed upon probable events and conditions as to the other quarters.

The following statement exhibits what is actually known and what, after careful reflection, the Secretary thinks himself warranted in regarding as probable:

For the first quarter, which ended September 20, 1863, the actual receipts were

From customs....

From internal revenue.

From lands.....

From miscellaneous sources..

Total receipts for first quarter....

To which add balance July 1, 1863..

$22,562,018 42

17,599,719 59

136,182 99

641,542 04

$40,939,456 14
5,329,044 21

Making total receipts of first quarter, except loans. For the three remaining quarters, ending on the 30th of June, 1864, it is estimated there will be received: From customs..

From internal revenue..

From lands...

From miscellaneous sources..

$50,000,000 00

60,000,000 00

300,000 00

5,000,000 00

Making a total of receipts from ordinary sources, actual and estimated, and including balance of.... To which add actual and estimated receipts from loans

Making a total of actual and estimated receipts from all sources for 1864.....

The expenditures may be stated as follows:

$46,268,500 35

-115,300,000 00

$161,568,500 35 594,000,000 00

$755,568,500 35

For the first quarter ending September 30, 1863, the actual disburse

ments have been:

For the civil service. ...

$7,216,939 31

$176,110,932 46

Actual expenditures for first quarter.

For the remaining three quarters the estimates, founded on appropriations and estimated deficiencies, are

as follows:

For the civil service....

For pensions and Indians..

For War Department....

$27,050,872 21

6,129,042 86

741,092,037 14

For Navy Department.
For interest on public debt.

94,467,567 74

54,881,508 01

923,621,027 96

Making a total aggregate of actual and estimated expenditures of....

But as these estimates include all unexpended balances of appropriations from former years, they are necessarily much too large, and there may be safely deducted from their aggregate, as likely to remain unexpended at the close of the fiscal year, the sum of

Leaving the total actual and estimated expenditures for 1864....

The total of expenditures being deducted from the total of receipts, there will be an estimated balance on the 30th of June, 1864, of......

From this statement it appears that the total receipts required for the probable disbursements of the year, and including estimated balance at its close, will amount to.....

$1,099,731,960 42

350,000,000 00

$749,731,960 42

5,836,539 93

$755,568,500 35

176,110,932 46

Of which there have been provided and applied during the first quarter...

Leaving to be provided......

$579,457,567 89

Of which it is estimated there will be received from ordinary sources during the three other quarters..

115,300,000 00

Leaving yet to be provided by loans........

$464,157,567 89

The amount of debt created during the quarter is ascertained by deducting from the total expenditures $176,110,932 46, the aggregate of ordinary receipts and balance from last year, amounting together to $46,268,500 35, which gives as the increase of debt, $129,842,432 11. To this sum, if there be added the sum yet to be provsded by loans, $464,157,567 89, the result will be, $594,000,000 00, from which, if there be deducted the estimated balance on the 1st July, 1864, $5,836,539 93, the remainder will be $588,163,400 07, and will represent the total increase, on the basis of these estimates, of public debt during the year. The debt on the 1st of July, 1863, was $1,098,793,181 37; to which, if this estimated increase be added, the total debt on the 1st of July, 1864, will be $1,686,956,641 44, instead of $1,744,685,586 80, as estimated in the report of last December.

The following detailed statement of the indebtedness of the United States will be found very valuable for future reference It gives the popular name, the date of passage, and a synopsis of each act under which the loans composing the entire present indebtedness have been made, together with the length of loan, when redeemable, rate of interest, amount authorized, amount issued, and the amount outstanding of each loan, and the total debt at three separate dates, to wit: March 4, 1861, June 30, 1863, and September 30, 1863:

Twenty
years.

*6 per cent. 16,000,000 18,000,000 8,908,341
After
July 1, '68.

8,908,341

8,908,341

Fifteen years.

*3 per cent. 10,000,000
After
Dec. 81, '64.

5,000,000 3,481,000 3,461,000

3,461,000

Acts Authorizing Loans, and Synopsis of Same.

LOAN OF 1842-Acts of July 21, 1841, and April 15, 1842-Authoriz
ed a loan of $12,000,000, bearing interest at a rate not exceeding 6
per cent per annum. and reimbursable at the will of the Secretary,
after six months' notice, or at any time after three years from the
1st of January, 1842. The act of April 15, 1842, authorized the loan
of an additional sum of $5 000,000, and made the amount obtained
on the loan, after the passage of this act, reimbursable after six
months' notice, or at any time, not exceeding twenty years, from the
1st day of January, 1843. This loan was made for the purpose of
redeeming outstanding Treasury notes, and to defray any of the pub-
lic expenses.

LOAN OF 1846.-Act of July 22, 1846-Authorized an issue of $10,-
000,000 in Treasury notes, bearing interest at a rate not exceeding 6
per cent per annum, and payable one year from date. Instead of is-
suing the whole amount in Treasury notes, authority was given to
borrow any part of it. and issue therefor bonds in the same form and
under the same restrictions. limitations, and provisions contained in
the act of April 15, 1842. The whole amount of Treasury notes and
bonds issued under this act not to exceed $10,000,000. Authority
was given the Secretary to purchase the Treasury notes at any time.
LOAN OF 1847.-Act of January 28, 1847-Authorized the issue of
$23,000,000 in Treasury notes. bearing interest at a rate not exceed-
ing 6 per cent per annum, with authority to borrow any portion of
the amount, and issue bonds therefor, bearing interest at a rate not
exceeding 6 per cent, and redeemable after the 31st of December,
1967. The 13th section authorized the funding of these notes into
bonds of the same description. The act limited the amount to be
borrowed or issued in Treasury notes and funded as aforesaid to $23,-
000,000, but authorized funding of Treasury notes issued under for-
mer acts beyond that amount. The excess of the $23,000,000 is made
up of Treasury notes funded under the 14th section.

LOAN OF 1848.-Act of March 31, 1848-Authorized a loan of $16,-
000,000, bearing interest at a rate not exceeding 6 per cent per an-
num, and reimbursable at any time after twenty years from the 1st
of July, 1848. Authority was given the Secretary to purchase the
stock at any time.

TEXAN INDEMNITY.-Act of September 9, 1850--Authorized the
issue of $10,000,000 in bonds, bearing 5 per cent interest, and re-
deemable at the end of fourteen years, to indemnify the State of
Texas for her relinquishment of all claims upon the United States
for liability of the debts of Texas, and for compensation for the sur-
render to the United States of her ships, forts, arsenals, custom-
houses, etc., which became the property of the United States at the
time of annexation.

Length
Loan.
Twenty
years.

OLD FUNDED DEBT.-Consisting of unclaimed dividends upon stocks issued before the year 1800 and those issued during the war of 1-12.

TREASURY NOTES.-Acts prior to 1857--Different issues of Treas-
ury notes.

TREASURY NOT.-Act of December 23, 1857-Authorized an is-
sue of $20,000,000 in Treasury notes, bearing interest at a rate not
exceeding six per cent per annum, and receivable in payment of all
public dues, and to be redeemed after the expiration of one year
from the date of said notes.

LOAN OF 1858.-Act of June 14, 1858-Authorized a loan of $20,-
000,000, bearing interest at a rate not exceeding 5 per cent per an-
num, and reimbursable at the option of the government at any time
after the expiration of fifteen years from the 1st of January, 1859.

LOAN OF 1860.-Act of June 22, 1860-Authorized a loan of $21,-
000,000, bearing interest at a rate not exceeding 6 per cent per an-
num, and reimbursable within a period not beyond twenty years,
and not less than ten years, for the redemption of outstanding Treas
ury notes, and for no other purpose.

TREASURY NOTES.-Act of December 17, 1860-Authorized an is-
sue of $10,000,00. in Treasury notes, to be redeemed after the expi-
ration of one year from the date of issue, and bearing such a rate of
interest as may be offered by the lowest bidders, Authority was
given to issue these notes in payment of warrants in favor of public
creditors at their par value, bearing six per cent interest per annum.
LOAN OF FEBRUARY, 1861.-Act of February 8, 1861 Authorized
a loan of $25,000,000, bearing interest at a rate not exceeding 6 per
cent per annum, and reimbursable within a period not beyond twen-
ty years nor less than ten years. This loan was made for the pay-
ment of the current expenses, and was to be awarded to the most
favorable bidders,

TREASURY NOTES -Act of March 2, 1861-Authorized a loan of
$10,000,000, bearing interest at a rate not exceeding 6 per cent per
annum, and reimbursable after the expiration of ten years from July
1, 1861. In case proposals for the loan were not acceptable, author-
Ity was given to reissue the whole amount in Treasury notes, bear-
ing interest at a rate not exceeding 6 per cent per annum. Author-
ity was also given to substitute Treasury notes for the whole or any
part of the loans for which the Secretary was by law authorized to
contract and issue bonds, at the time of the passage of this act, and
such Treasury notes were to be made receivable in payment of all
public dues, and redeemable at any time within two years from
March 2, 1861.

OREGON WAR.-Act of March 2, 1861-Authorized an issue, should
the Secretary of the Treasury deem it expedient, of $2,800,000 in
coupon bonds, bearing interest at the rate of 6 per cent per annum,
and redeemable in twenty years, for the payment of expenses in-

year.

Ten
years.

Length

When
Redeemable.

Rate of
Interest.

Amount
Authorized.

Amount
Issued.

After
June 80, '81.

+6 per cent.

Outstanding March 4, '61.

Outstand'g Outstand'g
June 30,'63. Sep. 30, '63.

50,000,000

50,000,000 50,000,000

After

53,003,300

52,981,000 52,725,350

3 y'rs.

$6,995,700

86,989,500 86,953,650

Payable

TWENTY YEARS SIXES.-Acts of July 17, 1861, and Aug. 5, 1861-20 years.
Authorized a loan of $250,000,000, for which could be issued bonds
bearing interest at a rate not exceeding 7 per cent per annum, irre-
deemable for twenty years, and after that redeemable at the pleas-
ure of the United States.

7.30 NOTES, (two issues).-Treasury notes bearing interest at the
rate of 7.30 per cent per annum, payable three years after date; and
DEMAND NOTES.-United States notes without interest, payable
on demand, to the extent of $50,000,000. (Increased by act of Feb-
ruary 12, 1862, to $60,000,000 )$

The bonds and Treasury notes to be issued in such proportions of
each as the Secretary may deem advisable.

TWENTY YEARS SIXES.-The supplementary act of August 5, 1861,
authorized an issue of bonds bearing 6 per cent interest per annum,
and payable at the pleasure of the United States after twenty years
from date, which may be issued in exchange for 7.30 Treasury notes
but no such bonds to be issued for less than $500, and the whole
amount of such bonds not to exceed the whole amount of 7.30 Treas-
ury notes issued.

U.S NOTES (new issue), FIVE-TWENTIES, TEMPORARY LOAN.-Act
of February 25, 1862-Authorized the issue of $150,000,000 in legal
tender United States notes, $50,000.000 of which to be in lieu of de-
mand notes issued under act of July 17, 1861,-$500,000,000 in 6 per
cent bonds, redemable after five years, and payable twenty years from
date, which may be exchanged for United States notes, and a tem-
porary loan of $25,000,000 in United States notes for not less than
thirty days, payable after ten days' notice, at five per cent interest
per annum. (This last was increased to $100,000,000 by the follow-
ing acts:)

Act of March 17, 1862-Authorized an increase of temporary loans
of $25,000,000, bearing interest at a rate not exceeding 5 per cent per
annum. (Included above.)

Act of July i1, 1862-Authorized a further increase of temporary
loans of $50,000,000, making the whole amount authorized $100,000,-
000. (Included above.)

CERTIFICATES OF INDEBTEDNESS.-Act of March 1, 1862-Author-
ized an issue of certificates of indebtedness, payable one year from
date, in settlement of audited claims against the government. In-
terest 6 per cent per annum, payable in gold on those issued prior
to March 4, 1863, and in lawful currency on those issued on and after
that date. Amount of issue not specified.

UNITED STATES NOTES.-Act of July 11, 1862-Authorized an ad-
ditional issue of $150,000,000 legal tender notes, $35,000,000 of which

5 or 20
years.
Not less
than 30
days.

........

After
April 30, '67.
After ten

days' notice.

*None

150,000,000 150,000,000