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Report of the Secretary of the Treasury. Nov. 7, 1864:
Electronic Edition.

Confederate States of America. Dept. of the Treasury.


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(caption title) Report of the Secretary of the Treasury. Nov. 7, 1864
Confederate States of America. Dept. of the Treasury.
56 p.
Richmond
The Dept.
1864
Call number 1186 Conf. (Rare Book Collection, University of North Carolina at Chapel Hill)


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Library of Congress Subject Headings, 21st edition, 1998

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REPORT
OF THE
SECRETARY OF THE TREASURY.

TREASURY DEPARTMENT C. S. A.,
Richmond, Nov. 7, 1864.

Hon. THOMAS S. BOCOCK,
Speaker of the House of Representatives:

        SIR: I have the honor to submit the following report of the condition of this Department on the 1st of October, 1864. The last statements submitted to Congress were up to the 1st of April, 1864. The receipts into the Treasury for the two quarters ending on the 1st of October, are as follows:

        
 Four per cent. registered bonds, Act 17th February, 1864,   $13,353,500 00 
 Six per cent. bonds and stock, Act 23d March, 1863,   280,200 00 
 Four per cent. bonds and stock, Act 23d March, '63,   3,500 00 
 Eight per cent. bonds and stock, Act 28th Feb, '61,   7,600 00 
 Six per cent. bonds and stock, twelfth section Act 17th February, 1864,   388,000 00 
 Six per cent. bonds five hundred million loan, Act 17th February, 1864,   14,481,650 00 
 Six per cent. bonds, eighteenth section Act 17th February, 1864,   495,200 00 
 Four per cent. call certificates, seventh section Act 17th February, 1864,   20,973,160 00 
 Seven per cent. bonds, Act 20th February, 1863,   2,700 00 
 Six per cent. certificates of indebtedness, Act 17th February, 1864,   1,739,100 00 
 Tax on old issues redeemed,   14,440,566 85 
 Carried forward,   $66,165,176 85 


Page 2

 Brought forward,   $66,165,176 85 
 Repayments by disbursing officers,   20,115,830 51 
 Treasury notes, under Act 17th February, 1864,   277,576,950 50 
 War tax,   42,294,314 46 
 Sequestration,   1,238,732 75 
 Customs,   59,004 33 
 Export duty,   4,320 12 
 Overseers' exemption and tax on non-combatants,   30,500 00 
 Miscellaneous receipts,   321,783 13 
 Coin seized by authority of Secretary of War,   1,653,200 00 
 Premium on loans,   4,822,249 36 
 Soldiers' tax,   908,622 22 
 Patent fund,   866 16 
    $415,191,550 39 

        The expenditures during the same period are as follows:

        
 War Department,   246,367,442 94 
 Navy Department,   15,554,802 28 
 Customs   28,585 43 
 Civil, miscellaneous and foreign intercourse,   10,427,674 94 
    $272,378,505 59 
 Public debt--for payment of interest,   10,772,883 11 
 Public debt--for payment of principal,   331,787,444 00 
    $614,938,832 70 

        
 The balance in the Treasury on 1st April, 1864, was,   $308,282,722 19 
 The amount received since is,   415,191,550 39 
    $723,474,272 58 
 Deduct amount of expenditures,   614,938,832 70 
 The balance in the Treasury is,   $108,435,439 88 

        This balance is made up as follows:

        
 Treasury notes (new issue) and specie,   $22,053,200 81 
 Treasury notes (old issue) to be cancelled,   86,382,239 07 
    $108,435,439 88 

        The public debt on the 1st of October, 1864, was as follows:

        
 Funded debt.    
 Total issue of bonds and stocks,.   $363,416,150 00 
 Total issue of call certificates,   197,578,370 00 
 Total issue of certificates of indebtedness,   19,010,000 00 
 Carried forward,   $580,004,520 00 


Page 3

 Brought forward,      $580,004,520 00 
 Total issue of produce certificates, Act April 21, 1862,      3,500,000 00 
 Amount of 7.30 interest notes, which have assumed the character of permanent bonds,      99,954,900 00 
       $683,459,420 00 
 Reduced by amount redeemed, to wit:       
 Act May 16, 1861, principal,   $ 297,600 00    
 Act August 19, 1861, principal,   1,267,700 00    
 Call certificates, Act December 24, 1861, six per cent.,   70,729,030 00    
 Call certificates, Act March 23, 1863, five per cent.,   70,000,000 00    
 Call certificates, Act March 23, 1863, four per cent.,   1,825,000 00    
       144,119,330 00 
       $539,340,090 00 
 Unfunded debt.       
 Amount 3.65 interest notes outstanding,      516,050 00 
 Total issue treasury notes--old issue,   $973,281,863 50    
 Reduced by amount called in for cancellation,   649,047,945 50    
       324,233,918 00 
 Total issue treasury notes--new issue,      283,880,150 00 
       1,147,970,208 00 

        The estimates submitted by the various departments for the support of the Government for the six months from 1st January to 1st July, 1865, are as follows:

        
 Legislative,   $ 375,000 00 
 Executive office,   47,845 46 
 Treasury Department,   4,626,350 00 
 War Department,   402,912,206 33 
 Navy Department,   14,005,134 75 
 Post-office Department,   294,349 93 
 State Department,   63,355 00 
 Department of Justice,   715,074 26 
 Miscellaneous,   15,000,000 00 
 Aggregate,   $438,039,315 73 

        The balances of appropriations not drawn on the 1st of October, 1864, are as follows:

        
 Civil and miscellaneous,   $97,871,764 13 
 Carried forward,   $97,871,764 13 


Page 4

 Brought forward,   $97,871,764 13 
 War Department,   612,260,280 69 
 Customs,   247,309 33 
 Navy Department,   33,785,764 80 
    $744,165,118 95 

        The expenditures were estimated by my predecessor for the three months from 1st April to 1st July at $162,000,000. At this rate the expenditures for the six months should have been

        
     $324,000,000 00  
 To this amount must be added the debts then stated to be in arrear, which do not appear to have been reduced, the actual expenditures being $284,251,386 80,   75,000,000 00 
    $399,000,000 00 
 Deduct amount paid,   284,251,386 00 
    $114,748,614 00 
 Add the estimated expenditures from 1st October, to 1st January, 1865,   $162,000,000 00 
 This exhibits a total of   $276,748,614 00 

        yet to be charged against existing appropriations.

        This amount deducted from the balance of appropriations undrawn, viz: $744,165,118 95, leaves the following amount from past appropriations applicable to the expenditures of the six months from the 1st of January to the 1st of July, 1865, $467,416,504.

        The preceding tables of the public debt, derived from the books of the Register, present an aggregate of $1,147,970,208. The following summary includes the results of the taxation and funding of the old issues, which do not yet appear on the books of the Register, and exhibits the state of the debt with more precision.

        
 Funded debt, October 1st:      $539, 340, 090 
 Bonds, four per cent., to be issued for the old currency, funded, viz:       
 East of the Mississippi,   $250,000,000    
 West of the Mississippi,   30,000,000    
       280,000,000 
       $819,340,090 
 Deduct amount of four per cent. bonds, receivable in payment of taxes,      81,000,000 
 Total of funded debt,      $738,340,090 
 Unfunded debt:       
 Treasury notes outstanding,   $324,233,918    
 Carried forward,   $324,233,918    


Page 5

 Brought forward,   $324,233,918    
 Deduct amount funded in trans-Mississippi Department,   30,000,000    
    $294,233,918    
 Deduct tax, 331/3 per cent.,   98,077,973    
       196,155,945 
 Treasury notes, under act 17th February, 1864,      283,880,150 
       $1,218,376,185 
 This sum is liable to a further reduction for the following items of debt included in the Register's accounts, but still in the treasury, viz: treasury notes, (new issue,)   $22, 058, 200    
 Bonds, 6 per cent. 500 million loan,   27,564,150    
 Bonds, 8 per cent. 100 million loan,   3,000,000    
 Certificates of indebtedness,   17,270,900    
 Call certificates 4 per cent.,   22,106,840    
       91,995,090 
 Total debt, October 1st, 1864,      $1,126,381,095 

        A table of the public debt on the 1st of April, 1864, prepared on the same principle, shows it to have been as follows:

        
 Funded debt,      $523,530,670 
 Bonds, four per cent., for currency funded,      280,000,000 
 Total funded debt, April 1st,      $803,530,670 
 Unfunded debt:       
 Treasury notes, amount outstanding by the Register's accounts,   $505,792,103    
 Deduct amount funded in Trans-Mississippi department,   30,000,000    
    475,792,103    
 Deduct tax of 331/3 per cent.,   158,597,368    
       317,194,735 
 Total debt, April 1st, 1864,      $1,120,725,405 

        Which compared with the sum of debt similarly ascertained on the 1st October, $1,218,376,185, shows an augmentation of $97,650,780 in the six months from 1st April to 1st October, 1864.

        This addition to our indebtedness is smaller than might have been apprehended, yet is greater than if the currency had risen in value, and thereby the expenditures had been reduced; and the large amount of taxes paid had contributed exclusively to the relief of the Treasury.

        The foreign debt, consisting of a single item, is omitted; the whole


Page 6

amount being under £2,200,000 is adequately provided for by the cotton owned by the Government, even at sixpence per pound; the quantity being about 250,000 bales.

        The expenditures of the current quarter, it is assumed, will be met from the following resources, viz:

        
 Treasury notes: amount unexpended of the proportion applicable to the payment of expenditures,   $80,000,000 
 Taxes: amount to be received for the last quarter of 1864, estimated at   35,000,000 
 Bonds, certificates of indebtedness and loans on hypothecation of bonds,   47,000,000 
    $162,000,000 

        The certificates of indebtedness provided by the act of 17th Feburary, 1864, did not prove as favorite an investment as was anticipated, and the amount of these securities, taken in payment by public creditors up to 1st October, is about $2,000,000 only. From the sale of bonds and loans on hypothecation of bonds, about $45,000,000 was raised, and from the new issue of treasury notes $283,000,000.

        The large and rapid issue of treasury notes is the more to be regretted from the failure of the measures relied upon to sustain their value and reduce expenditures. The new notes are received by the public at a value scarcely any higher than the old; and, as a consequence, the expenses have not declined.

        The currency demands the immediate and the gravest consideration of Congress. Unless a uniform and stable value can be given to the treasury notes, the effort to carry on the war through their instrumentality, must of necessity be abandoned. Acquiescence in its deplorable depreciation, is to court the ruin to which it leads. One hundred and thirty-five dollars in currency, the price obtained for one hundred dollars in six per cent. bonds, is equal to six dollars only in specie; and to sell the bonds at this rate is in reality to dispose of them at ninety-four per cent. discount; or in other words, to give a bond for one hundred dollars in consideration of the loan of six dollars.

        There is not a man of property in the country who would not prefer any fair measure of taxation, rather than procure a temporary and treacherous prosperity by the sale of mortgages on his estate at this ruinous rate.

        The depreciation of the currency, proceeding from redundancy, and the want of confidence in its ultimate redemption, can only be corrected by measures that shall both diminish its volume and sustain the public confidence.

        The measures adopted by Congress to reduce the currency, did not combine these essential elements of success. Those who had taken the old notes, relying on the good faith of the Government, on finding them suddenly deprived of one-third of their nominal value, became alarmed and received the new notes under strong apprehensions of a repetition of the measure. At the time, too, that the currency act provided for a circulation exceeding four hundred millions of dollars,


Page 7

it circumscribed and reduced the demand for the notes, by making the four per cent. bonds, receivable in the payment of taxes. By the 1st day of August $170,000,000 of the new notes had already been issued, and less than $10,000,000 sufficed for the payment of the taxes collected at that date. Depreciation commenced at once, and proceeded at so rapid a rate that by the 1st day of October, gold was selling at twenty-five dollars for one.

        The necessity of providing a speedy and efficient remedy for this condition of things is obvious. The bonds have to be sold for this currency; the taxes must be collected in it, and hence all the means of the Government for the purchase of supplies will consist of this medium. Admitting that the amount which may be raised from these sources, is nominally equal to the estimated expenditures, there is yet no security against such a further decline in the value of the notes as will disappoint present calculations, and add enormously to the accumulation of the public debt. The time, therefore, seems to have arrived when Congress should take measures to restore and sustain the currency, or make provision for its honorable redemption, and resort to the use of specie and bank-notes. The adoption of the last alternative, it is feared, would produce great embarrassment in the community, and the impossibility of obtaining an adequate supply of specie and bank-notes for the wants of the Government, would create the necessity for a system of universal impressments, followed by incalculable suffering and distress.

        That the Government must be supplied with sufficient means to carry on the war, all are agreed. Our enemy offers us no terms short of unconditional surrender of life, liberty and property, and no choice is left us, even if we were disposed to hesitate, which we are not, but to continue the war. The adoption, therefore, of a permanent and efficient system of finance is indispensable to the full development and unconstrained use of our resources. The return to specie payments being for the present impracticable, the enquiry is whether it is possible to restore and maintain the value of the treasury notes as a currency. The accomplishment of this end is of such vast importance, that it is, of all others, that to which the resources of the country should be devoted and applied. Were it possible to anticipate the productions of future years of peace, and convert them into money for immediate use the expediency of resorting to such a measure could not be doubted. May not a near approach to it be made by devoting a portion of those future productions to the purpose of imparting to the treasury notes a high and stable value? I submit that this may be done, and respectfully propose a plan for its accomplishment.

        It is an act pledging the faith of the Government against the issue of treasury notes beyond the amount authorised by the act of 17th February, 1864; exempting the notes from taxation; providing for the application of twenty per cent of the taxes annually to the reduction of that amount until peace be declared or the outstanding sum be reduced to $150,000,000; continuing the tax in kind after the war, and appropriating an ascertained proportion thereof annually to the redemption or payment of the circulation, until the whole shall be retired.


Page 8

        I propose that the redemption shall be made from the tithes of cotton, wheat and corn, at prices fixed by the act, namely: cotton at fifty cents per pound, wheat at four dollars per bushel, and corn at two dollars per bushel; that the notes be received after the war, from all persons liable to the tax in kind, in commutation of their tithes; and that the Secretary of the Treasury be authorised to issue certificates in exchange for treasury notes, bearing six per cent interest, secured and redeemable in the same manner and on the same terms as the notes themselves, free from taxation and receivable after the war in payment of the tax in kind; and that all notes, received into the treasury for these certificates, be cancelled.

        The effect of this measure would be that, at present prices, the entire population would be interested in exchanging their productions for treasury notes. They would constitute not only a safe currency, but a profitable investment, for in the ratio of ten dollars for one, as compared with specie, the produce obtained in payment at the close of the war, would cost the following prices, viz: cotton five cents per pound, wheat forty cents per bushel and corn twenty cents. These nominally low prices would not operate to the prejudice of the agriculturalist, for his tax, being in kind, would neither be increased nor diminished by the price. It is true he would have a collateral interest in common with tax payers generally, (for of course all interests will be taxed,) in the redemption of the notes at a moderate rate. In this respect his interest would be protected by the prices stipulated by the act, which are not too low for a time of peace. But if they were, a full compensation would accrue to the tax payer in the immediate enhancement of the notes and consequent reduction of expenses. And the producer would find a complete indemnity in the sale of a bushel of corn now at four dollars, and the application of the money to the payment of a tax hereafter of two bushels.

        In suggesting the three articles of cotton, wheat and corn, as a specific pledge for the redemption of the currency, no immunity from their full proportion of taxation is intended to be implied, in respect of other objects of the tax in kind, or any subjects of taxation whatsoever. These are only assigned to this particular office or function because of their peculiar adaptation thereto.

        The following is an estimate of the resources to be thus applied, viz: wheat, twenty-five million bushels; Indian corn, two hundred million bushels, and cotton, two million bales. A tax of ten per cent. would yield as follows:

        
 Wheat, two million five hundred thousand bushels at four dollars,   $10,000,000 
 Indian corn, twenty million bushels at two dollars,   40,000,000 
 Cotton, two hundred thousand bales, at $200 per bale,   40,000,000 
    $90,000,000 

        This amount applied annually would redeem the notes outstanding in four or five years. The credit due to this estimate may be inferred from the following summary of the crops of the Confederate States before the war, taken from the United States census of 1860:


Page 9

        COTTON ESTIMATED at 400 pounds per bale and 50 cents per pound; Wheat at $4 per bushel, and Corn at $2 per bushel.

        
    COTTON.         WHEAT.      CORN.       
 STATES.   Bales.   Weight.   Value.   Bushels.   Value.   Bushels.   Value.   Total value. 
 Virginia,   12 727   5,090,800   2,545,400   13,129,180   52,516,720   38,360,704   76,721,408   131,783,528 
 North Carolina,   145,514   58,205,600   29,102,800   4,743,706   18,974,824   30,078,564   60,157,128   108,234,752 
 South Carolina,   353,413   141,365,200   70,682,600   1,285,631   5,142,524   15,065,606   30,131,212   105,956,336 
 Georgia,   701,840   280,736,000   140,368,000   2,544,913   10,179,652   30,776,293   61,552,586   212,100,238 
 Alabama,   983,651   393,460,400   196,730,200   1,222,487   4,889,948   32,761,194   65,522,388   267,142,536 
 Mississippi,   1,202,055   480,822,000   240,411,000   579,452   2,317,808   29,563,735   59,127,470   301,856,278 
 Florida,   66,063   26,425,200   13 212,600   2,808   11,232   2,824,538   5,649,076   18,872,908 
 Louisiana,   722,424   288,969,600   144,484,800   29,283   117,132   16,205,856   32,411,712   177,013,644 
 Texas,   415,281   166 112,400   83 056,200   1,464,273   5,857,092   16,521,593   33,043,186   121,956,478 
 Arkansas,   366 465   146,586,000   73,293,000   955,298   3,821,192   17,758,665   35,517,330   112,631,522 
 Tennessee,   212,019   84,807,600   42,403,800   5,409,863   21,639,452   50,748,266   101,496,532   165,539,784 
 Kentucky,   4,092   1,636,800   818,400   7,394,811   29,579,244   64,043,633   128,087,266   158,479,910 
 Missouri,   101   40,400   20,200   4,227,586   16,910,344   72,892,157   145,784,314   162,714,858 
    5,185,645   2,074,258,000   $1,037,129,000   42,989,291   $171,952,164   417,600,804   $835,201,608   $2,044,282,572 


Page 10

        The leading details of this plan or measure to reassure the public of the safety of the currency, and the redemption of it in full, will consist of the ratio in which the selected staples should be combined, and of the provision necessary to equalize the value of the postponed and preceding instalments. The combination of the staples as recommended in this report is 1-9 of wheat, 4-9 of corn, and 4-9 of cotton. The scheme recommended in another place, for the purpose of harmonizing the value of the successive instalments, is the substitution of certificates, bearing interest, for the currency, set apart by the holders, in commutation of the tax, or to purchase the tithes. After the most careful investigation I am satisfied that the measure may be successfully reduced to practice.

        Under the operation of this system a sure appreciation of the currency may confidently be expected. All will discern the advantage to arise from the acquisition of treasury notes at present prices, and even foreign capital may be expected to absorb a part, for, at the rate of ten dollars for one dollar of specie, the cost of cotton would be reduced to five cents per pound. Confidence may be expected to return; for those who dread repudiation, and those who would regard the return to specie payments with equal alarm, would both be encouraged and assured. In imparting increased value and security to the treasury notes, greater reliance in the value of the funded debt would be inspired, for the expenditures would be reduced and the accumulation of debt be retarded.

        
 The currency debt being provided for, the total remainder, to-wit: the funded debt, would be as already stated,   $738,340,090 
 And if to this sum be added the amount of bonds to be sold before the 1st January, which may be estimated at about,   40,000,000 
 The total sum of interest-bearing debt on the 1st of January, 1865, will be,   $778,340,090 
 The value of the real and personal property in the Confederate States in 1860 according to the United States census, taken at specie value, was,   $5,202,166,107 

        Notwithstanding the waste and desolation of the war, and the amount of property in the enemy's lines, the subjects of taxation under the act of 17th February, 1864, according to the returns made to the commissioners by the assessors, under the act of 19th August, 1861, is as follows, viz:

        
 Property employed in agriculture:       
 Specie value,   $2,900,758,777    
 Currency valued at $5 for $1,      $14,503,793,890 
 Other property:       
 Specie value,   1,450,379,379    
 Currency valued at $7 for $1,      10,152,655,653 
 Specie value,   $4,351,138,156    
 Currency value,      $24,656,449,543 


Page 11

        There is an element of our national wealth, taken singly, that exhibits, in a striking view, the amplitude of our resources to meet our wants. I refer to the great staple of cotton. The nett proceeds of one bale exported and sold in England at the present price is about two hundred dollars in gold; and at the rate of ten dollars in currency for one dollar in gold, this is equal to two thousand dollars; and to four billions dollars for the two millions of bales estimated to be still in the country; a sum more than five times as great as the funded debt. The impossibility of realising the full benefit of this resource under existing circumstances is admitted; but the statement exhibits the abundance of our means; and every effort should be made to apply this great element of wealth and power to the purpose of arresting the progress of depreciation, and retarding the accumulation of debt.

        I propose an additional duty of five cents per pound on the exportation of cotton and tobacco and the duplication of the duties on imports; payment to be made in coupons of the five hundred million loan, sterling exchange and specie, as now provided by law. The price of cotton in Liverpool being about sixty cents per pound, the deduction of five cents for the tax would hardly have an appreciable effect upon its value in currency. The duty would fall chiefly on the foreign consumer, or be taken from the profits of the exporter; and an important financial advantage would be obtained at a moderate expense to the country. The increased duty on imports would be a small tax on this lucrative trade. If paid by the importer, it would be free from all objection; and if by the consumer, his ability to bear it is abundantly proven by the high price paid for goods. These measures would enhance the value and enlarge the demand for the five hundred million loan.

        The expenditures for the six months, from the 1st of January to the 1st of July, 1865, with an improved currency, may be safely estimated at a maximum of $300,000,000; and for the twelve months at, 

        
    $600,000,000 
 To this amount must be added for the redemption of notes as proposed, the sum of,   60,000,000 
 And for the estimated amount of floating debt,   114,000,000 
    $774,000,000 

        To meet these demands upon the Treasury, I propose the following scheme of taxation and loans, viz:

        
 1. Taxation, including the tax in kind,   $360,000,000 
 2. Sale of bonds of the 500-million loan and certificates of indebtedness,   409,000,000 
 3. Import and export dues and miscellaneous receipts,   5,000,000 
    $774,000,000 


Page 12

        To raise the amount proposed by taxation, I recommend the repeal of so much of the act amending the act of 17th February, 1864, as will leave the property and income tax in full operation, without the abatements now allowed, viz: Section 1, paragraph 1, of the amendatory act of 14th June, 1864, which provides that the value of the tax in kind shall be deducted from the ad valorem tax on agricultural property; and section S, paragraph 2, of the same act, which provides that the property tax shall be deducted from the income tax. By this change the desired amount of revenue will be secured, and the prominent inequalities of taxation, now the subject of complaint, will be redressed.

        The tax in kind being ten per cent., and its value in currency, $145,000,000, it follows that the productions taxed amounted in value to $1,450,000,000; and the assessed value of the property from which these productions are derived being $2,900,758,778 40, it is apparent that the gross income of $1,450,000,000 is equal to fifty per cent of the assessed value of the property. Hence, an agricultural estate of the value of $100,000, subject to an ad valorem tax of $5,000, yielded a gross income of $50,000. The tithe of this income-($5,000) paid the property tax, and left undiminished $45,000 of income. This result was the consequence of valuing the property for taxation in specie, and the productions received in payment of the tax in currency. Had the preperty been valued in the medium in which the tax was payable, the assessment would have been at least $500,000, and the tax $25,000; or had the articles received in kind been valued, as the property was, in specie, the payment would not have exceeded $2,000, and $3,000 more of tax would have been received in currency.

        The inequality of taxation that resulted is made conspicuous by a comparison with investments made in Government securities. The same sum of $100,000, in eight per cent. bonds, yielding $8,000 per annum interest, paid $5,000 tax, and left a clear income of only $3,000. Capital invested in banking presents a contrast equally striking. One of the banks in Richmond, which is referred to as an example only, on a capital of $2,336,000, paid $424,400 taxes, the specie being assessed at eighteen times the value of 1860; and the amount distributed among the stockholders as income was $268,640. On $100,000 consequently, thus invested, the tax was $18,000, and the income $11,500. These inequalities give rise to grave complaints, whilst any amount of taxation equitably distributed would doubtless be cheerfully met.

        The collection of a large sum in taxes is essential to the reform of the currency, and the country is in a condition the most favorable to bear the burden. The abundance of money, and high price of every species of property and supplies, would render the payment easy and free from embarrassment. The treasury will derive little aid from this source in the present year. The tax on the currency brought no revenue, operating only as a reduction of the circulation. The other taxes, with comparatively little exception, will be received in four per cent bonds. The taxes upon property and income respectively, are,


Page 13

to some extent, nominal only; the ad valorem tax on property engaged in agriculture being discharged by the credit of the tax in kind, and the income tax on other property diminished by the whole sum of the ad valorem tax. These abatements, and the payments in four per cent, bonds, result in reducing the revenue from taxation (exclusive of the soldiers' tax) to about $40,000,000.

        The accompanying able report of the Commissioner of Taxes is referred to for much valuable and interesting information on this important subject.

        Computing the property of the country at the present estimated value, the following is the existing rate of taxation, viz:

        
 Value of real and personal property in currency, rated at five to seven times the valuation of 1860,   $24,656,449,551 
 Total amount of taxes, including the tax in kind, and the soldiers' tax,   $287,000,000 
 which is at the rate of one and one-sixth per cent.    

        With this estimate of the resources of the Confederacy, the taxes proposed for the ensuing year cannot be deemed excessive. The sum of $360,000,000, reduced into specie at twenty dollars for one dollar, is only $18,000,000; and this amount, applied to the values of 1860, viz: $4,351,138,157, is at the rate of less than one-half of one per cent. And if the calculation is made in currency, viz: $360,000,000, upon an assessment of $24,656,449,551, it would amount to one and a half per cent. And when it is remembered that with the payment of the taxes quarterly, a measure which I strongly recommend, less than one-fourth of the currency will suffice for the quarter's tax, and the amount collected in any one quarter will be restored to the circulation before another becomes payable, it is apparent that the resources of the country are ample to meet the proposed increase of taxes.

        It may be objected that the several measurcs combined will unduly reduce the circulation, and expose the country to the evils of a declining and insufficicient currency. The reply to this objection is, that the evils predicated are, to some extent, inseparable from the reduction of the currency and the improvement of its value. Any measures that are successful in effecting the desired reform must, of necessity, be followed by the trials that attend upon such a transition. If Congress does not interpose, and by some such measures as I have ventured to recommend, restore the currency, gradually, judiciously, and by means of voluntary action, it will assuredly rectify itself by some violent and disastrous convulsion.

        The developments attending the execution of the Currency Act of February 17, 1864, reveal clearly that the great body of the circulation is held in moderate sums by persons of limited means, in all classes of the population. The deposits held by the banks, large as they are in the aggregate, proved to be the accumulations of individual depositors in all parts of the country. The report of the depositaries, appointed for funding the old notes show that soldiers, soldiers' families and the poor generally, have been the


Page 14

heaviest sufferes by the tax on the currency and its depreciation. In view of the large stake of the poorer classes of society in the currency, the responsibility of fixing the value and establishing the security of the notes, assumes the gravity of a sacred duty. The soldier, and all who are forced to the immediate use of their money, are without the chance of redress for the loss they sustain by the depreciation, whereas the capitalist has it in his power to indemnify himself, and even reap a profit by investing in public bonds.

        The measures proposed may be expected to correct this inequality, and give to those who claim our sympathy a mortgage upon our future supplies for bread at fair prices, and when the war is over the country will enjoy the satisfaction of having protected its defenders from want.

        If the proposed reform should be followed by a general and large decline in prices, the result would be hailed with the liveliest satisfaction, except by those whose imprudent investments have contributed to the derangement we desire to correct. No improvement of the currency can be expected that will not be attended by an immediate decline of prices. It will, therefore, be idle to say that the reform of the currency is desired, if we are willing that existing prices should be continued, and to shrink from measures that will be attended by the results indicated, is to oppose the reform of the currency. The time for hesitation is past, and one of two alternatives must be adopted. Measures should be taken, without delay, to revive confidence in the treasurv notes and uphold their value, or a tax payable in specie and the notes of solvent banks be resorted to. In the most favorable light in which the notes can be regarded, the purchasing quality does not exceed one to seven or eight, as compared with specie; and the bonds are even lower in value, being sold at the rate of one hundred dollars in bonds for six dollars in specie. To continue such exchanges, if, indeed, for any length of time it were possible, would be ruinous. But my conviction is, that it is impossible to persevere, and unless prompt and decided measures of reform are adopted, the progress of depreciation will be accelerated, and our embarrassments become insurmountable. I would, therefore, earnestly urge upon Congress the necessity of acting with dispatch, and, by the adoption of vigorous and decided measures, restore the value of the currency and avert the calamity with which we are threatened.

        To remove apprehensions of our ability to bear with convenience the increased taxation recommended, it will suffice to call attention to the amount of taxes paid this year.

        
 The total amount of taxes is estimated at      $374,188,414 
 But from this sum must be deducted the credit given for the tax in kind and the income tax, viz:      128,787,245 
 Leaving as the amount of taxes actually paid,      $245,401,169 
 To this amount must be added the tax on treasury notes of thirty-three and a third per cent.; and                   
 Carried forward,      $245,401,169 


Page 15

 Brought forward,       $245,401,169 
 as the four per cent. bonds have declined in value to $66.66 per $100, the tax, in effect, included the whole sum of issues, except in so far as the bonds were used at par in the payment of taxes, viz:       
 Total issue,   $797,792,000    
 Less estimated amount of four per cent. bonds receivable in payment of taxes,   89,000,000    
    $708,792,000    
 $708,792,000 at thirty-three and a third per cent.,      236,264,000 
 Sum of taxation actually borne by the people in 1864,      $481,665,163 

        Of this sum there was received in aid of the Treasury, viz:
 Tax in kind, valued at   $145,527,431 
 Tax paid in currency,   40,000,000 
    $185,527,431 
 It is now proposed to raise $360,000,000, which will bring into the Treasury an excess over last year of   174,472,569 
    $360,000,000 
whilst the sum of taxation to be met by the people will be $121,665,169 less than last year.

        I would respectfully recommend that all Government bonds and stocks, and loans of every description to the Government, be declared free from taxation, except upon the income derived therefrom; and that the income tax be at the same rate and subject to the same conditions as other income taxes. The policy of this measure is obvious. Under existing laws, except in the case of the five hundred million loan and the certificates of indebtedness, the income derived from Government securities, is nearly all taken back in the form of taxation. One effect is to drive the bonds abroad and create a foreign debt that will be found oppressive on the return of peace, and another is to raise a preference for other investments over Government securities. Many investments yield a larger income than simple interest, and are capable of bearing the tax; but the interest on Government loans being limited, and not susceptible of augmentation, the tax of five per cent. absorbs nearly the entire income. In the case of the four per cent. bonds the whole would be taken, and when it is remembered that this rate of interest is low, and that the loan was in a measure compulsory, this class of public creditors seem particularly entitled to the consideration of Congress. Tender regard for the just claims of those who, confiding in the honor and good faith of the Government, responded to its calls for pecuniary aid will be attended by no loss, since they who deal the most honorably with the creditor invariably borrow on the best and most economical terms.


Page 16

        I would particularly call attention to a class of creditors now lending their money to the Treasury at four [per] cent interest, on the hypothecation of the six per cent. non-taxable bonds. It is obviously the interest of Government to exempt these loans from taxation, in like manner with the bonds they represent.

        The tax also upon the banks deserves, in a particular manner, the careful consideration of Congress. It would be a conspicuous wrong to constrain these institutions to wind up their affairs, and a serious loss, both to the public and the Government to deprive the country of the support to be drawn from the concentrated capital they possess. This, I think, must eventually be the effect of the present tax if continued, and I recommend a modification of the law, such, in my opinion, as will give the desired relief, and leave the revenue undiminished. The assets of the banks represent the following interests:

        The following plan of taxation is proposed:

        The circulation of the banks on the 1st of January, 1859, was as follows, and there is no reason to suppose that it is now any less:

        
 Virginia,   $10,349,342 
 North Carolina,   6,202,629 
 Georgia,   11,687,582 
 South Carolina,   9,170,333 
 Alabama,   6,651,117 
 Louisiana,   9,094,009 
 Mississippi,   169,400 
 Tennessee,   6,472,822 
    $59,797,231 


Page 17

        If limited to the five first named States, the tax would still operate on a sum of forty-three million dollars; and if the returns shall exhibit a smaller amount than this, the residue would be brought under sequestration, and contribute more largly than the tax to the relief of the treasury.

        The courts having decided that, under the act of 15th February, 1862, section twenty-seven, the four per cent. bonds, issued under the act of 17th February, 1864, to reduce the currency, are receivable in payment of property sold under the sequestration laws. I would respectfully call the attention of Congress to the subject. This cannot have been the intention, and as no other bonds are thus applied, but such as are under par, I recommend the repeal of that provision of the law.

        I would also direct the attention of Congress to the 7.30 notes. The payment of interest is attended with the risk of frauds, and the regulations adopted for the security of the treasury are found inconvenient to the public. For these reasons it is desirable to change the form of these obligations, and I recommend that authority be given to issue six per cent. coupon bonds in exchange for the notes. This measure would effect a saving in interest of one million three hundred thousand dollars annually, which sum capitalised is equal to a reduction of nearly twenty million dollars of the principal of the debt.

        In the act of June 14, 1864, to increase the compensation of the heads of the several executive departments, and other officers and clerks of the Government, the terms used have been decided not to include the Commissioner of Taxes, and the heads of the other bureaus of the Treasury Department. It is not supposed to have been the intention of Congress to deny these officers the relief extended to others, and I suggest the early passage of an act to bring them within the meaning and entitle them to the benefits of the act of 1st June.

        The third section of the act "to organize forces to serve during the war," approved 17th February, 1864, authorizes the Secretary of the Treasury to issue bonds for the payment of the bounty provided by the act, but omits to fix a time for the payment of the bonds; and I respectfully recommend that the act be amended in that particular.

        I have the honor to report that the agency of the Treasury in the trans Mississippi department has been organized and put in operation, after a protracted delay occasioned by the difficulty of communication. The same cause has retarded the receipts therefrom of statements exhibiting the result of the funding and of its other operations. Supplies of the new issue of treasury notes, of bonds and certificates of indebtedness, have been sent to that department, and there is every ground to believe that order and efficiency will soon take place, and the difficulties and embarrassments hitherto experienced there be removed.

        The reports of the Chiefs of the Produce Loan Bureau and of the Treasury Note Bureau will be submitted to Congress in a separate communication.

G. A. TRENHOLM,
Secretary of Treasury.


Page 19

REPORT
OF THE
COMMISSIONER OF TAXES.

OFFICE OF COMMISSIONER OF TAXES,
Richmond, October 28, 1864.

Hon. G. A. TRENHOLM,
Secretary of the Treasury:

        SIR: I have the honor to refer you to the tables hereto attached, showing the estimated sum which will be realized for the year 1864, from the tax laws now in force in each of the States in the Confederacy in which it is practicable to collect taxes. The process by which these estimates have been arrived at will be seen by reference to the attached statements. By reference to table marked A, it will be seen that the total amount is $145,527,431 34. These estimates are predicated upon the returns of war-tax assessments for the year 1861. The original assessments thus taken have been increased twenty per centum, to cover such objects of taxation as were not taxable under the act of 19th August, 1861, but which are included in the general terms "real, personal and mixed of every kind and description," as employed in the act of 17th February, 1864. To this estimate has been added the estimated value of gold and silver plate, jewels, jewelry and watches, in each State, the tax upon which is ten per cent--five per cent. more than that levied upon the other objects of taxation. Deductions have been made for regions occupied by the public enemy, and destruction of crops, &c., and these are based upon such meagre information as could be derived from my knowledge of the foothold of the enemy in the several States, and from such general items of information connected therewith as would influence the allowance of per centage.

        In arriving at the amount of tax above stated, certain deductions have been allowed on account of property employed in agriculture and the credit required by law upon the income tax, where the property and effects producing the income have been taxed. It is estimated that at least two-thirds of the property of the Confederate States is employed in agriculture, and that the income tax for the


Page 20

year 1864 will be diminished at least ten per cent. by the deduction, on account of ad valorem tax.

        The estimate of all other taxes (under the act of 24th of April, 1863, as amended and approved 17th February, 1864,) is based upon the collections as already returned to this office. This is done in the absence of the assessment lists, which should form the proper basis for all estimates of this character, as they alone can furnish reliable data.

        These lists have been returned very late, and in many cases they have not been returned at all, and the clerical force is not sufficient for their examination, even if the clerks were permitted to remain at their duties. It is superfluous for me to say that a large number of my clerks have been in the field for weeks past, and that prior to that time they were subject to constant calls during the summer, and were out a month at a time on some occasions, consequently the lists have not been examined as they should have been.

        The soldiers' fund tax, by the terms of the law, is one-fifth of all other taxes imposed upon subjects of taxation for the year 1864, and includes property employed in agriculture, without any deduction on account of tithes paid.

        By statement B, herewith, it will be seen that the amount of taxes actually collected and reported to this office is $118,845,744 57. This includes the tax of 1863, and what has been collected and reported under the act of 17th February, 1864, and amendments, and the soldiers' tax act. It is impossible at this time to segregate the amount collected under each law, much less to state in what proportions it is derived from the many sources or subjects of taxation. It will not be possible to do this, or to approximate the amounts, until the lists have been received and examined, full returns made from all the States, and the books of this office for the tax year shall have been fully made up and completed. The taxes for this year, from the best information I can obtain, will all, or nearly so, be collected by the 1st of January, except, of course, the income and such other taxes of the year as are not payable till 1865.

        I have endeavored to estimate the probable proportions of the tax of this year which will be collected in four per cent. certificates and currency. Inasmuch as it is to the interest of the tax-payer to use the four per cents in payment of his taxes, it is presumed that he will do so in every case in which they are receivable, and that no currency will be used when the certificates will answer the same purpose. By the terms of the law, as before stated, the soldiers' fund tax must be paid in currency of the new issue, and the estimated amount of this tax in all the States is $45,653,693 73.

        Then the tax on coin, bullion, foreign exchange, &c., must be paid in coin, or treasury notes of the new issue, or of the old at a reduction of one-third. What the amount of this tax will be, I have not the most remote means of ascertaining. Besides, it is impossible to conjecture what proportion of it will be paid in coin, or what in currency, at the commutation value of coin. The presumption is, however, that much the greater portion will be paid in currency. Then, s a mere guess, I would say that $10,000,000 additional will be paid


Page 21

in currency, making $55,653,693 73, and after deducting this sum from the whole amount of estimated taxes for the year 1864, there remains $39,873,737 61, which will be paid in four per cent. certificates.

        It is impracticable to say or even to approximate with any degree of certainty the proportions which the different interests of the community will pay of the estimated taxes for this year. After full returns shall have been received, and the books of the office are made up, something satisfactory on this subject may be arrived at.

        I can state, I think, with tolerable accuracy, from investigations on the subject, that the agricultural interest, in addition to the tithe, will pay about one-third of the money tax, or $48,509,143 78. The tithe estimated at the valuation placed upon it in 1863, (the market value in Confederate currency in the neighborhood where assessed,) will probably be equal to the money tax, say $145,527,431 34. The value of the property from which tithes are to be collected is estimated to be two-thirds of the value of the whole amount of property taxed under the act of 17th February, 1864, say $2,900,758,778 40. This is the estimated value of the property employed in agriculture, from which the tithe is to be collected, upon the basis of valuation of 1861, which may be regarded as a specie basis. It is estimated that this class of property has appreciated at least five-fold in Confederate currency, and by multiplying the specie value by five, the result is $14,503,793,892, its present value in currency.

        I beg leave to refer to some of the inequalities in the present tax laws. The tax on gold and silver coin, moneys held abroad, and foreign credits, is five per cent. on the amount, to be paid in specie, or in currency at the rate of eighteen dollars in currency for one dollar in coin. All property (including cotton, tobacco, land and slaves not purchased since the 1st day of January, 1862) is to be assessed at its value in 1860, or upon a specie basis, and the tax on this is only five per cent., to be paid in currency. Here exists a very great inequality. A tract of land worth $10,000 in coin in 1860, and presumed to be worth the same now, only pays $500 in Confederate notes or four per cent. certificates, whereas $10,000 in gold coin pays $500 in coin or its equivalent in Confederate notes, at the rate of eighteen for one, which is $9,000.

        Paragraph three, section four, act of 17th February, 1864, which levies a tax of twenty-five per cent. additional in certain cases, has been construed by the Attorney General only to include corporations and joint stock companies; and that simple companies or co-partnerships and single owners of manufacturing establishments are exempt from the tax. If the company is not a joint stock company, it is held that the act does not embrace it, no matter how great its profits may be.

        It appears to me that Congress did not intend that the large number of co-partnership and individual owners of manufacturing establishments should escape this tax. Suppose two cotton mills in the same county, as frequently occurs. The one is owned by a joint stock company and the other by a simple co-partnership or by a single individual.


Page 22

Their profits may be equal, or those of the simple co-partnership or individual may greatly exceed those of the joint stock company; yet the one is heavily taxed upon its profits while the other pays nothing. This inequality, I think, should be remedied by an amendment.

        The present general scheme of taxation, I think a good one, and, with a few alterations, will work well and satisfactorily to the public, and produce a large amount of revenue. In all the legislation of Congress upon the subject of taxes, the agricultural interest has been too much favored. It is not so much the amount as the inequality of taxes which produces discontent and murmurings among the tax-payers. The acts of Congress now in force would raise a very large amount of revenue but for the allowance of credits, whereby one tax is cancelled by another. Thus, the farmer is assessed upon all his property and then allowed a credit upon his property tax to the amount of the value of his tithes. Other classes are taxed upon their property and allowed to deduct the ad valorem from the tax on the income derived from such property. This multiplies labor and expense without increasing the revenue.

        Tax-payers complain of two heavy taxes, when in effect there is only one, for the excess of income above the ad valorem tax is all that is subject to income tax.

        I would, therefore, respectfully recommend that all these credits be abolished, and that property be taxed on the basis of 1860, as it is now. Let the tax be required in specie or its equivalent in Confederate notes, at the option of the tax-payer. Let the law taxing business avocations and professions, and the income of every person, partnership and corporation remain as it is, amending as above suggested.

        The merchant will then pay his property tax, his business tax, and his income tax, and the farmer and planter will pay his property tax; and his tithes, according to existing provisions, will be an equivalent for and received in full satisfaction of the tax on income derived from his property employed in agriculture.

        All this may be effected by simply repealing those clauses which allow the value of the tithe to be credited upon the ad valorem tax on property employed in agriculture, and the ad valorem tax on property not so employed to be credited upon the income tax derived from such property. In my opinion, as little change in the law as practicable should be made. Tax laws should be free from doubt and permanent, and, at the same time, simple. It would be very difficult, however, to devise a simple scheme of taxation in view of the great multiplicity of objects to be taxed. The present one, though complicated, is now pretty well understood by the officers, and, in most cases, works harmoniously. Frequent changes produce confusion, dissatisfaction in the public mind, and great delay and additional expense in the assessment and collection of taxes. The amendments of the last session of Congress have thrown back the business several months, and in view of the necessary alteration of established forms, &c., has caused very great additional expense. But for such alterations, collections would have


Page 23

commenced under the act of 17th February promptly on the 1st of June, and by this time would very likely be nearly advanced to completion.

        Should the credits before referred to be repealed, and all property and effects be valued upon the specie basis, and the tax required in specie, or its value in currency, it would be necessary to reduce the rate per centum of taxation to one or two per cent., perhaps, according to the amount it might be desirable to raise by taxation.

        I regret my inability to report to Congress a larger amount of collections. The causes have been already partially alluded to. Besides the delay occasioned by the amendments to the law, change of forms, etc., my office has had to contend with many difficulties and disadvantages growing out of a multiplicity of causes.

        By reason of restrictions imposed in the law, it has been difficult from the start to secure competent clerks.

        By the thirty-ninth section of the assessment act, no one could be appointed for duty in this office who was under forty years of age, unless he had been discharged from military service by reason of physical disability incurred therein, or found unfit for such service by a competent board of surgeons. Physical disability was therefore made a qualification by law for an appointment in this office, and the consequence is, that some of the worthy, and otherwise faithful and competent gentlemen, serving therein as clerks, are frequently unable to attend to their duties. Nearly all belong to the local forces, and those who are sufficiently healthy have frequently been called away from their duties to the field, and, since the 5th of May, have been absent most of the time from that date to the present. It is extremely difficult to find competent persons, above the age of forty-five, willing to accept these positions.

        Under the most favorable circumstances it is difficult to procure the stationery and printing necessary to supply the immense number of forms, lists and tax books for assessing and collecting the taxes, and after these had been procured, at great labor and expense, such alterations were made in the laws as necessitated corresponding changes in the forms, and much of the work had to be done over again. Then the printers, postoffice clerks, etc., were called out at the most critical juncture, and for a long time it was impossible to have any printing or binding executed, or to transmit the documents after they were printed to the various State collectors for distribution. And thus the distribution of forms, and the dissemination of the various and necessary instructions were retarded, and officers at remote points were long left in ignorance as to their duties under the law. Contracts were made in Richmond with parties to furnish the tax digests for those States in which they could not be procured, and these books would long since have been completed and sent away, but for the fact that the contractors have lost their printers and binders, who have been placed in the field, and, consequently, the work is now suspended. I am powerless to devise a remedy, and, as much as I regret the delay, it will be seen that I am in nowise responsible for it. And, unless Congress should devise the means of preventing such interruptions


Page 24

in future, the functions of this office, I fear, will be paralyzed, if not suspended.

        Owing to the difficulty of communication with the trans-Mississippi department, since the fall of Vicksburg, but little is known as to the condition or progress of the tax business in that department. But ample instructions have long since been sent to Judge Gray, the agent of the department, by which full control is placed in his hands, of the operations on that side, and the State collectors are directed to report to him, and he is directed to forward to this bureau periodical reports of their actings and doings.

        Since the recapture, by our forces, of the town of Washington, N. C., the counties of Hyde and Beaufort having again fallen within our lines, the assessors and collectors for those counties were proceeding to enforce collections; but, in consequence of the ruin and destruction of property during the long occupancy of those regions by the enemy several earnest remonstrances, from highly respectable sources, were addressed to the department, against the collection of taxes in those counties, and asking a suspension of assessments and collections till after the meeting of Congress.

        In accordance with directions from the department, I ordered the suspension asked till thirty days after the meeting of Congress, in order that measures for the relief of the people of those counties might be considered by that body. A suspension of collections was likewise ordered in certain portions of Culpeper county, Virginia, for similar reasons. The attention of Congress is respectfully called to the subject.

        I am confident that the whole expense of assessing and collecting the taxes, including stationery, printing, books, etc., as well as the expenses of this bureau, will not exceed one per centum. I make this statement with much pride and pleasure, because I doubt if ever, in any country, before, public or private dues have been collected at such an economical rate. This fact attests the patriotism of the tax officers, many of whom serve the Government in that capacity for less than no compensation, because their expenses while employed in the discharge of their duties greatly exceed their income. The average salary of a collector is, say, $2,000 in currency, which, rated at its value in coin, or at its capacity to purchase the necessaries of life, is less than $100.

        Before closing, I beg leave to call the attention of Congress to a subject which deeply concerns many of our collectors, and to recommend action for their relief. I refer to the subject of counterfeit treasury notes received in payment of taxes. The act of thirtieth January, 1864, entitled "An act to extend the provisions of an act in relation to the receipt of counterfeit treasury notes," etc., relieved them up to the first day of January, 1864, but no further. I would respectfully recommend the passage of a similar act, extending relief to the first day of January, 1865.

Respectfully submitted,

THOMPSON ALLAN,
Commissioner.


Page 25

ALABAMA.

        Total value of real and personal property in the State of Alabama, subject to taxation under the act of February 17th, 1864, on the basis of valuation established by said act:

        
 Estimated by returns of assessments under act of August 19th, 1861,      $459,732,117 41    
 To which add twenty per centum for assessments of property not subject to taxation under said act, but now taxable, (estimated,)      91,946,423 44   551,678 540 85 
 Estimated tax thereon at 5 per cent.,      27,583 927 04    
 Jewelry and watches, (say $1,500,000,) 5 per cent. additional,      75,000 00    
       27,658,927,04    
 Deduct on account partial occupation by public enemy, say 10 per cent.,      2,765,892 70    
 Estimated amount of property tax, under act February 17, 1864,      24,893,034 34    
 Deduct on account credit tax in kind, say two-thirds,   $16,595,356 22       
 Deduct on account credit income tax 10 per cent.,   2,489,303 43   19,084,659 65    
 Estimated nett proceeds property tax,         5,808,374 69 
 Estimated amount of all other taxes, (under act 24th April, 1863,) less estimated amount assessed under first section of said act, now repealed,         6,000,000 00 
 Estimated amount of 30 per cent. tax, section 6, act June 14, 1864, nominal,         200,000 00 
 Aggregate amount of taxes for 1864, acts April 21, 1863, February 11, 1864, June 14, 1864,         12,008,374 69 
 Soldier's Fund Tax--          
 One-fifth of   $24,893,034 34   $4,978,606 86    
 One-fifth of    6,000,000 00   1,200,000 00    
 One-fifth of   200,000 00   40,000 00   6,218,606 86 
 Total,         $18,226,981 55 


Page 26

ARKANSAS.

        Total value of real and personal property in the State of Arkansas, subject to taxation under the act of 17th February, 1864, on the basis of valuation established by said act:

        
 Estimated by returns of assessments under act of August 19, 1861,      $122,579,117 00*
*Eight counties not assessed. 
  
 To which add 20 per centum for assessments of property not subjected to taxation under said act, but now taxable, (estimated,)      24,515,823 00   147,094,940 00 
 Estimated tax thereon at 5 per cent.,      7,354,747 00    
 Jewelry and watches, (say $500,000,) 5 per cent. additional,      25,000 00    
       7,379,747 00    
 Deduct on account of partial occupation by public enemy, say 60 per cent.,      4,427,848 00    
 Estimated amount of property tax under act of February 17, 1864,      2,951,899 00    
 Deduct on account credit tax in kind, say two-thirds,   1,967,933 00       
 Deduct on account credit income tax, say 10 per cent.,   295,189 00   2,263,122 00    
 Estimated nett proceeds property tax,         688,777 00 
 Estimated amount of all other taxes under Act 24th April, 1863, less estimated amount assessed under first section of said act, now repealed,         1,500,000 00 
 Estimated amount of 30 per cent. tax, section 6, act June 14, 1864, nominal,         20,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 17, 1864, June 14, 1864,         2,208,777 00 
 Carried forward,         $2,208,777 00 


Page 27

 Brought forward,         $2,208,777 00 
 Soldiers' Fund Tax--          
 One-fifth of    $2,951,899 00   $590,379 00    
 One-fifth of    1,500,000 00   300,000 00    
 One-fifth of    20,000 00   4,000 00    
          894,379 00 
 Total,         $3,103,156 00 

FLORIDA.

        Total value of real and personal property in the State of Florida, subject to taxation under the act of February 17th, 1864, on the basis of valuation established by said act:

        
 Estimated by returns of assessments under act of August 19th, 1861,      $49,480,561 00    
 To which add 20 per centum for assessments of property not subject to taxation under said act, but now taxable, (estimated,)      9,896,112 00    
          59,376,673 00 
 Estimated tax thereon at 5 per cent.,      2,968,833 65    
 Jewelry and watches, (say $300,000,) 5 per cent. additional,      15,000 00    
          2,983,833 65 
 Deduct on account of partial occupation by public enemy, say 12 per cent.,      358,060 03    
 Estimated amount of property tax, under act of February 17, 1864,      2,625,773 62    
 Deduct on account credit tax in kind, say two-thirds,   1,750,515 74       
 Deduct on account credit income tax, say 10 per cent,   262,577 36       
       2,013,093 10    
 Estimated nett proceeds property tax,         612,680 52 
 Carried forward,         $612,680 52 


Page 28

 Brought forward;         $612,680 52 
 Estimated amount of all other taxes under act 24th, April, 1863, less estimated amount assessed unfirst section of said act, now repealed,         1,000,000 00 
 Estimated amount of 30 per cent. tax, section 6, act June 14, 1864, nominal,         25,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 11, 1864, June 14, 1864,         1,637,680 52 
 Soldiers' Fund Tax--          
 One-fifth of   $2,625,773 62   $525,154 72    
 One-fifth of   1,000,000 00   200,000 00    
 One-fifth of   25,000 00   5,000 00    
          730,154 72 
 Total,      $2,367,835 24    

GEORGIA.

        Total value of real and personal property in the State of Georgia subject to taxation under the act of February 17, 1864, on the basis of valuation established by said act:

        
 Estimated by returns of assessments under act of August 19, 1861,                  $564,173,946 82    
 To which add twenty per centum for assessments of property not subject to taxation under said act, but now taxable, (estimated,)      112,834,789 36    
          $677,008,736 18 
 Estimated tax thereon at five per cent.,      33,850,436 80    
 Jewelry and watches, (say $2, 500,000,) five per cent. additional,      125,000 00    
       $33,975,436 80    
 Deduct on account partial occupation by public enemy, say five per cent.,      1,698,771 84    
 Estimated amount of property tax, under act February 17, 1864,      $32,276,664 96    
 Carried forward,      $32,276,664 96    


Page 29

 Brought forward,      $32,276,664 96    
 Deduct on account credit tax in kind, say two-thirds,   $21,517,776 64       
 Deduct on account credit income tax, say ten per cent.   3,227,666 49       
       24,745,443 13    
 Estimated nett proceeds property tax,         7,531,221 83 
 Estimated amount of all other taxes, under act April 24, 1863, less estimated amount assessed under first section of said act, now repealed,         15,000,000 00 
 Estimated amount of thirty per cent. tax, section six, act June 14, 1864, nominal,         300,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 11, 1864, June 14, 1864,         $22,831,221 83 
 Soldiers' Fund Tax--          
 One-fifth of   $32,276,664 96,   $6,455,332 99    
 One fifth of   15,000,000 00,   3,000,000 00    
 One-fifth of   300,000 00,   60,000 00    
          9,515,332 99 
 Total,         $32,346,554 82 

LOUISIANA.

        
 Total Value of real and personal property in the State of Louisiana subject to taxation under the act of February 17, 1864, on the basis of valuation established by said act, estimated by returns of assessments under act of August 19, 1861,   $534,921,329 01                   
 To which add twenty per centum for assessments of property not subject to taxation under said act, but now taxable, (estimated,)      106,984,265 80    
       $641,905,594 81    
 Estimated tax thereon at five per cent.,   $32,095,279 74       
 Jewelry and watches, (say $2,000,000,) five per cent. additional,   100,000 00       
 Carried forward,   $32,195,279 71       


Page 30

 Brought forward,      $32,195,279 74    
 Deduct on account partial occupation by public enemy, say fifty per cent.,      16,097,639 87    
 Estimated amount of property tax, under act of February 17, 1864,      16,097,639 87    
 Deduct on account credit tax in kind, say two-thirds,          
    $10,731,759 90       
 Deduct on account credit income tax, say ten per cent.,   1,609,763 98   $12,341,523 88    
 Estimated nett proceeds property tax,         $3,756,115 99 
 Estimated amount of all other taxes under act 24th April, 1863, less estimated amount assessed under first section of said act, now repealed,         4,000,000 00 
 Estimated amount of thirty per cent. tax, section six, act June 14, 1864, nominal,         50,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 11, 1864, June 14, 1864,         $7,806,115 99 
 Soldiers' Fund Tax--          
 One-fifth of    $16,097,639 87,   $3,219,527 97    
 One-fifth of   4,000,000 00,   800,000 00    
 One-fifth of   50,000 00,   10,000 00    
          4,029,527 97 
    Total,      $11,835,643 96 

MISSISSIPPI.

        
 Total value of real and personal property in the State of Mississippi subject to taxation under the act of February 17, 1864, on the basis of valuation established by said act, estimated by returns of assessments under act of August 19, 1861,                  $447,616,073 00    
 To which add twenty per centum for assessments of property not subject to taxation under said act, but now taxable, (estimated,)      89,523,214 00    
          $537,139,287 00 


Page 31

 Estimated tax thereon at five percent.,      $26,856,964 35    
 Jewelry and watches, (say $1,000,000,) five per cent. additional,      50,000,000    
       $26,906,964 35    
 Deduct on account partial occupation by public enemy, say fifty per cent.,      13,453,482 17    
 Estimated amount of property tax, act February 17, 1864,      $13,453,482 18    
 Deduct on account credit tax in kind, say two-thirds,   $8,968,988 12       
 Deduct on account credit income tax, say ten per cent.,   1,345,348 21       
       10,314,336 33    
 Estimated nett proceeds property tax,         $3,139,145 85 
 Estimated amount of all other taxes under act 24th April, 1863, less estimated amount assessed under first section of said act, now repealed,         2,000,000 00 
 Estimated amount of thirty per cent. tax, section six, act June 14, 1864, nominal,         50,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 17, 1864, June 14, 1864,         $5,189,145 85 
 Soldiers' Fund Tax--          
 One-fifth of   $13,453,482 18,   $2,690,696 43    
 One-fifth of   2,000,000 00,   400,000 00    
 One-fifth of   50,000 00,   10,000 00    
          3,100,696 43 
 Total,         $8,289,842 28 

NORTH CAROLINA.

        Total value of real and personal property in the State of North Carolina subject to taxation, under the act of February 17, 1864, on the basis of valuation established by said act:

        
 Estimated by returns of assessments under act August 19, 1861,                  $286,406,625 00                
 Carried forward,      $286,406,625 00    


Page 32

 Brought forward,      $286, 406, 225 00    
 To which add 20 per centum for assessments of property not subject to taxation under said act, but now taxable, (estimated,)      57,281,125 00    
          343,686,750 00 
 Estimated tax thereon at 5 per cent.,      17,184,337 50    
 Jewelry and watches, (say $1,000,000,) 5 per cent. additional,      50,000 00    
       17,234,337 50    
 Deduct on account of partial occupation by public enemy, say 10 per cent.,      1,723,433 75    
 Estimated amount of property tax under act of February 17, 1864,      15,510,903 75    
 Deduct on account credit tax in kind, say two-thirds,   10,340,602 50       
 Deduct on acc't credit income tax, say 10 per cent.,   1,551,090 37       
       11,891,692 87    
 Estimated nett proceeds property tax,         3,619,210 88 
 Estimated amount of all other taxes, under act 24th April, 1863, less estimated amount assessed under first section of said act, now repealed,         4,000,000 00 
 Estimated amount of 30 per cent. tax, section 6, act June 14, 1864, nominal,         50,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 17, 1864, June 14, 1864,         7,669,210 88 
 Soldiers' Fund Tax--          
 One-fifth of   $15,510,903 75,   $3,102,180 75    
 One-fifth of   4,000,000 00,   800,000 00    
 One-fifth of   50,000 00,   10,000 00    
          3,912,180 75 
 Total,         $11,581,391 68 


Page 33

SOUTH CAROLINA.

        Total value of real and personal property in the State of South Carolina subject to taxation under the act of February 17, 1864, on the basis of valuation established by said act:

        
 Estimated by returns of assessments under act of August 19, 1861,      $399,468,798 00    
 To which add 20 per centum for assessments of property not subject to taxation under said act, but now taxable, (estimated,)      79,893,759 00    
          479,362,557 00 
 Estimated tax thereon at 5 per cent.,      23,968,127 85    
 Jewelry and watches, (say $1,500,000,) 5 per cent. additional,      75,000 00    
       24,043,127 85    
 Deduct on account partial occupation by public enemy, say 10 per cent.,      2,404,312 78    
 Estimated amount of property tax, under act of February 17, 1864,      21,638,815 07    
 Deduct on account credit tax in kind, say two-thirds,   14,425,876 72       
 Deduct on acc't credit income tax, say 10 per cent.,   2,163,881 50       
       16,589,758 22    
 Estimated nett proceeds property tax,         5,049,056 85 
 Estimated amount of all other taxes, under act 24th April, 1863, less estimated amount assessed under first section of said act, now repealed,         7,000,000 00 
 Estimated amount of 30 per cent. tax, section 6, act June 14, 1864, nominal,         150,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 17, 1864, June 14, 1864,         12,199,056 85 
 Carried forward,         $12,199,056 85 


Page 34

 Brought forward,         $12,199,056 85 
 Soldiers' Fund Tax--          
 One-fifth of   $22,246,315 07,   4,449,263 01    
 One-fifth of   7,000,000 00,   1,400,000 00    
 One-fifth of   150,000 00,   30,000 00    
          5,879,263 01 
 Total,         $18,078,319 86 

TEXAS.

        Total value of real and personal property in the State of Texas subject to taxation under the act of February 17, 1864, on the basis of valuation established by said act:

        
 Estimated by returns of assessments under act of August 19, 1864,      $318,286,671 00    
 To which add 20 per centum for assessments of property not subject to taxation under said act, but now taxable,      63,657,334 00    
          381,944,005 00 
 Essimated tax thereon at 5 per cent.,      19,097,200 00    
 Jewelry and watches, (say $1,000,000,) 5 per cent. additional,      50,000 00    
       19,147,200 00    
 Deduct on account partial occupation by public enemy, say 20 per cent,      3,829,440 00    
 Estimated amount of property tax under act February 17, 1864,      15,317,760 00    
 Deduct on account credit tax in kind, say two-thirds,   10,211,840       
 Deduct on account credit income tax, say 10 per cent.,   1,531,776       
       11,743,616 00    
 Estimated nett proceeds property tax,         3,574,144 00 
 Carried forward,         $3,574,144 00 


Page 35

 Brought forward,         $3,574,144 00 
 Estimated amount of all other taxes, under act 24th April, 1863, less estimated amount assesed under first section of said act, now repealed,         4,000,000 00 
 Estimated amount of 30 per cent. tax, section 6, act June 14, 1864, nominal,         100,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 17, 1864, June 14, 1864,         7,674,144 00 
 Soldiers' Fund Tax--          
 One-fifth of   $15,317,760,   3,063,552    
 One-fifth of   4,000,000,   800,000    
 One-fifth of   100,000,   20,000    
          3,883,552 00 
 Total,         $11,557,696 00 

VIRGINIA.

        
 Total value of real and personal property in the State of Virginia subject to taxation, under the act of February 17, 1864, on the basis of valuation established by said act,         $531,941,083 76 
 Estimated tax thereon at 5 per cent.,      26,597,054 18    
 Jewelry, plate and watches, $3,000,000, 5 per cent. additional,      150,000 00    
       26,747,054 18    
 Deduct this amount on account partial occupation by public enemy,      4,497,054 18    
 Estimated amount of property tax, under act of February 17, 1864,      22,250,000 00    
 Deduct this amount on account credit tax in kind,   15,250,000 00       
 Deduct this amount on account credit income tax,   2,550,000 00       
       17,800,000 00    
 Estimated nett proceeds property tax,         4,450,000 00 
 Carried forward,         $4,450,000 00 


Page 36

 Brought forward,         $4,450,000 00 
 Estimated amount of all other taxes under act 24th April, 1863, less estimated amount assessed under 1st section said act, now repealed,         15,000,000 00 
 Estimated amount of 30 per cent. tax, section 6, act June 14, 1864,         200,000 00 
 Aggregate amount of taxes for 1864, acts April 24, 1863, February 17, 1864, June 14, 1864,         19,650,000 00 
 Soldiers' Fund Tax.          
 One-fifth of   $22,250,000 00,   $4,450,000 00    
 One-fifth of    15,000,000 00,   3,000,000 00    
 One-fifth of    200,000 00,   40,000 00    
          7,490,000 00 
 Total         $27,140,000 00 

(A.)
RECAPITULATION.

        ESTIMATE OF TAXES assessed under the acts of April 29, 1863, February 17, 1864, and June 14, 1864, for the year 1864.

        
 Alabama,   $18,226,981 55 
 Arkansas,   3,103,156 00 
 Florida,   2,367,835 24 
 Georgia,   32,346,554 82 
 Louisiana,   11,835,643 96 
 Mississippi,   8,289,842 28 
 North Carolina,   11,581,391 63 
 South Carolina,   18,078,319 86 
 Tennessee, (no estimate can be made,) perhaps,   1,000,000 00 
 Texas,   11,557,696 00 
 Virginia,   27,140,000 00 
 Total,   $145,527,421 34 


Page 37

(B.)

        STATEMENT OF TAXES collected under the acts of Congress, April 24, 1863, February 17, 1864, and June 14, 1864, as far as reported, to 28th October, 1864.

        
 Alabama, (say,)   $12,904,516 01 
 Arkansas, (imperfect returns, say to April 1, 1864,)   1,000,000 00 
 Florida,   1,262,292 00 
 Georgia, (say,)   29,394,878 61 
 Louisiana, (to July 1st, 1864, say,)   2,300,000 00 
 Mississippi, (to August 17, 1864, say,)   3,869,288 38 
 North Carolina,   14,575,199 66 
 South Carolina,   17,150,458 39 
 Tennessee,   231,551 30 
 Texas, (to June 1st, say,)   6,500,000 00 
 Virginia,   29,657,560 22 
    $118,845,744 57 


Page 39

ESTIMATES OF APPROPRIATIONS.

TREASURY DEPARTMENT,

October 26, 1864.

To the President:

        I have the honor to transmit herewith (in duplicate) to be submitted to Congress, estimates of appropriations required for the support of the Government, for the period from January 1st to June 30th, 1865, including deficiencies.

        I am, respectfully, your obedient servant,

G. A. TRENHOLM,
Secretary of the Treasury.

        ESTIMATES of appropriations required for the support of the Government for the period from January 1st to 30th June, 1865, inclusive, including deficiencies.

        
 LEGISLATIVE.    
 For compensation and mileage of members and delegates of the House of Representatives,   $200,000 00 
 For compensation of officers and others employed in the service of the House of Representatives,   10,000 00 
 For contingent expenses of the House of Representatives,   40,000 00 
 For compensation and mileage of members of the Senate,   97,000 00 
 For compensation of officers and clerks of the Sen ate,   14,000 00 
 For contingent expenses of the Senate,   14,000 00 
 EXECUTIVE.    
 For compensation of the President of the Confederate States,   12,500 00 
 For compensation of the Vice President of the Confederate States,   3,000 00 
 Amount carried forward,   $390,500 00 


Page 40

 Amount brought forward,   $390,500 00 
 For compensation of the private secretary and messenger of the President,   1,225 00 
 For compensation of the private secretary of the Vice President, including deficiency,   1,120 46 
 For contingent and telegraphic expenses of the Executive office,   30,000 00 
 TREASURY DEPARTMENT.    
 For compensation of the Secretary of the Treasury, Assistant Secretary, Comptroller, Auditors, Treasurer and Register and clerks, messengers, watchmen and laborers in Treasury Department,   670,000 00 
 For incidental and contingent expenses of the Treasury Department,   200,000 00 
 For engraving and printing treasury notes, bonds and certificates of stock, and paper for the same,   1,600,000 00 
 For payment of principal under loan of August 19, 1861, this sum being amount due and payable on the 1st of July, 1865,   1,449,600 00 
 For rent of executive buildings and President's house, including deficiency,   65,000 00 
 For compensation of the agent of the Treasury Department west of the Mississippi river, auditor, comptroller, clerks and messengers in their bureaus,   30,000 00 
 For incidental and contingent expenses of the treasury service west of the Mississippi river,   50,000 00 
 For salary, clerk hire and other expenses of the agent of the Erlanger loan at Paris,   16,000 00 
 For the transmission of Confederate States funds,   120,000 00 
 For compensation of officers, incidental and contingent expenses, including wages of workmen, and pay of laborers if necessary for the mint and independent treasury,   50,000 00 
 For travelling and other expenses incidental to the detection of persons engaged in preparing and passing forged treasury notes,   10,000 00 
 For the redemption of one fortieth of the principal of the £3,000,000 foreign loan, due September 1, 1865, £75,000a$4 85 per pound,   363,750 00 
 For deficiency in appropriation for erecting a stair case connecting the first and second floors of the building occupied by the Treasury Department,   2,000 00 
 Amount carried forward,   $5,049,195 46 


Page 41

 WAR DEPARTMENT.    
 Amount brought forward,   $5,049,195 46 
 For compensation of the Secretary of War, Assistant Secretary, Chief of Bureau, clerks, messengers and laborer in the War Department,   615,750 00 
 For incidental and contingent expenses of the War Department,   175,000 00 
 For contingent expenses of the Adjutant and Inspector General's Department,   52,000 00 
 For incidental and contingent expenses of the army,   250,000 00 
 QUARTERMASTER'S DEPARTMENT.    
 For pay of officers of the army, volunteers and militia,   88,906,398 00 
 For the service of the Quartermaster's Department,   186,186,944 33 
 COMMISSARY DEPARTMENT.    
 For the purchase of subsistence stores and commissary property,   50,000,000 00 
 ORDNANCE DEPARTMENT.    
 For the ordnance service in all its branches,   30,000,000 00 
 For the nitre and mining service,   12,500,000 00 
 ENGINEER DEPARTMENT.    
 For the engineer service,   10,000,000 00 
 For the loss of slaves which have been impressed by Confederate authorities, or under State laws, or voluntarily sent to the Confederate authorities, and accepted by them, without other special contracts, for the use of the Confederate Government, and while engaged in laboring on the public defences, or other public works, have escaped to the enemy, or died, or contracted diseases which have, after their discharge, resulted fatally,   1,500,000 00 
 BUREAU OF CONSCRIPTION.    
 For pay of officers, non-commissioned officers, privates and clerks, including current and extra-ordinary expenses in the Bureau of Conscription,   2,426,114 00 
 Carried forward,   $387,661,401 79 


Page 42

 Brought forward,   $387,661,401 79 
 Medical Department.    
 For pay of private physicians employed by contract,   250,000 00 
 For pay of hospital stewarts  100,000 00 
 For pay of nurses and cooks not enlisted or volunteers,   350,000 00 
 For pay of matrons, assistant matrons and ward matrons,   350,000 00 
 For pay of ward masters,   200,000 00 
 For pay of hospital laundresses,   150,000 00 
 For purchase of hospital clothing,   500,000 00 
 For purchase of alcoholic stimulants,   4,000,000 00 
 For purchase of medical and hospital supplies,   14,300,000 00 
 For establishment and support of military hospitals,   100,000 00 
 Navy Department.    
 For compensation of the Secretary of the Navy, clerks and messengers in his office,   35,600 00 
 For incidental and contingent expenses of the Navy Department,   15,000 00 
 For pay of the Navy,   647,384 75 
 For provisions and clothing in the Paymaster's Department,   3,802,150 00 
 For construction of iron-clad vessels in the Confederate States,   4,000,000 00 
 For ordnance and ordnance stores,   2,330,000 00 
 For repairs of vessels,   400,000 00 
 For equipment and stores of vessels,   600,000 00 
 For the construction of sub-marine batteries,   500,000 00 
 For contingent enumerated,   800,000 00 
 For medical supplies and surgeon's necessaries,   375,000 00 
 For fuel for steamers, navy-yards and stations,   500,000 00 
 State Department.    
 For compensation of the Secretary of State, clerks, messenger and laborer,   14,305 00 
 For foreign intercourse,   49,050 00 
 Department of Justice.    
 For compensation of the Attorney General, Assistant Attorney General, clerks and messengers, including deficiency,   16,129 79 
 Carried forward,   $422,046,021 33 


Page 43

 Brought forward,   $422,046,021 33 
 For incidental and contingent expenses of the Department of Justice,   6,000 00 
 For compensation of the Superintendent of Public Printing, clerks and messengers, including deficiency,   12,444 47 
 For compensation of Governor and Commissioner of Indian Affairs, Secretary, Judges, Attorney and Marshal of Arizona Territory,   5,000 00 
 For incidental and contingent expenses of Arizona Territory, to be expended by the Governor,   500 00 
 For the publication and printing of the Acts and Resolutions of Congress,   50,000 00 
 For printing, binding and ruling for the several Executive Departments,   150,000 00 
 For printing, binding and ruling for both Houses of Congress, including printing of the laws in book form, and the Journals of Congress,   80,000 00 
 For the purchase of paper for the several Executive Departments and Congress,   300,000 00 
 For salaries of Judges, Attorneys and Marshals, and incidental and contingent expenses of Courts,   80,000 00 
 For compensation of three Commissioners under the sequestration act, and for clerk hire and contingent expenses,   5,000 00 
 For a law library for the Department of Justice,   10,000 00 
 POSTOFFICE DEPARTMENT.    
 For compensation of the Postmaster General, chiefs of bureaus, clerks, messangers, watchmen and laborers, including deficiency,   139,590 08 
 For incidental and contingent expenses of the Postoffice Department,   20,000 00 
 For compensation of agents, cost of materials, and constructing, repairing and operating telegraph lines   75,000 00 
 For compensation of the agents of the Postoffice Department in the country west of the Mississippi river, and ten clerks,   19,759 85 
 For incidental and contingent expenses of the Postoffice Department west of the Mississippi river,   20,000 00 
 For rent, fuel, lights and water for the Postoffice in the city of Richmond,   20,000 00 
 Carried forward,   $423,039,315 73 


Page 44

 MISCELLANEOUS.    
 Brought forward,   $423,039,315 73 
 For the purpose of making purchases of cotton, naval stores and other produce, under the direction of the President, to meet the engagements of the Government, and to purchase necessary army, navy and other supplies,   15,000,000 00 
 Aggregate,   $438,039,315 73 

        

RECAPITULATION.

 Legislative,   $ 375,000 00 
 Executive, (salary of President, &c.,)   47,845 46 
 Treasury Department,   4,626,350 00 
 War Department,   402,912,206 33 
 Navy Department,   14,005,134 75 
 State Department,   63,355 00 
 Department of Justice,   715,074 26 
 Postoffice Department,   294,349 93 
 Miscellaneous,   15,000,000 00 
 Aggregate,   $438,039,315 73 

TREASURY DEPARTMENT,
Register's Office, Oct. 24, 1864.

C. T. JONES,
Acting Register.

HOUSE OF REPRESENTATIVES.

HOUSE OF REPRESENTATIVES,
Clerk's office, October 15, 1864.

Hon. G. A. TRENHOLM, Secretary of the Treasury:

        SIR: I have the honor to submit the following estimates for appropriations which will be required for the House of Representatives, for the six months ending June 30th, 1865, viz:

        
 Compensation and mileage of members and delegates of the House of Representatives, two hundred thousand dollars,   $200,000 
 Compensation of officers, etc., of the House of Representatives, ten thousand dollars,   10,000 
 Contingent expenses of the House of Representatives, forty thousand dollars,   40,000 
 Total,   $250,000 

Very respectfully,

A. R. LAMAR, Clerk.


Page 45

SENATE.

OFFICE SERGEANT-AT-ARMS, C. S. SENATE,
Richmond, October 24, 1864.

Hon. G. A. TRENHOLM, Secretary of the Treasury:

        SIR: I respectfully submit the following estimate, showing the amount required for the expenditure of the Senate of the Confederate States, for the six months ending June 30, 1865, to-wit:

        
 For compensation and mileage of Senators,   $97,000 
 For pay of officers and clerks of the Senate,   14,000 
 For incidental and contingent expenses of the Senate,   14,000 
 Total,   $125,000 

Very respectfully, your obedient servant,

L. H. FITZ HUGH, Sergeant-at-Arms, C. S. Senate.

EXECUTIVE OFFICE.

CONFEDERATE STATES OF AMERICA,
Executive office,
Richmond, Va., Oct. 19, 1864.

Hon. Secretary of the Treasury:

        SIR: I have the honor to submit the following estimate for transmission to Congress:

        To meet the "telegraphic and contingent expenses of the Executive Department," for the six months beginning January 1, and ending June 30, 1865, there will be required an appropriation of ($30,000) thirty thousand dollars.

Very respectfully, your obedient servant,

BURTON N. HARRISON. Disbursing Agent.

COMPENSATION OF THE PRIVATE SECRETARY OF THE VICE PRESIDENT.

        The salary of this officer was established by the act approved October 13, 1862, at $1,000 per annum. The act approved January 30, 1864, increased it one hundred per cent., or to $2,000. (See, in connection, act approved February 17, 1864, chapter 53, page 199.) This increase expires on the 1st of January, 1865. The amount


Page 46

standing to the credit of the appropriation for his compensation is $879 54, while the amount due him is $1,500, to December 31, 1864.

        
 The deficiency to be provided for, is, accordingly,   $620 46 
 Estimate for six months, ending June 30, 1865,   500 00 
 Total required,   $1,120 46 

TREASURY DEPARTMENT.

        ESTIMATE of appropriations under the control of the Treasury Department, required from January 1st to June 30, 1865.

        
 Compensation of the Secretary of the Treasury, Assistant Secretary, Comptroller, Auditors, Treasurer and Register, and clerks and messengers in the Treasury Department,   $670,000 
 Incidental and contingent expenses of the Treasury Department,   200,000 
 Payment of the principal, under loan of August 19, 1861, due July 1, 1865,   1,449,600 
 Rent of executive buildings and President's house,   45,000 
 Deficiency in same appropriation for the half year ending December 31, 1864,   20,000 
 Compensation of the agent of the Treasury Department, west of the Mississippi river, and auditor and comptroller, and clerks and messengers in their bureaus,   30,000 
 Incidental and contingent expenses of the treasury service west of the Mississippi river,   50,000 
 Travelling and other expenses incidental to detection of persons engaged in preparing and passing forged treasury notes,   10,000 
 Salary, clerk-hire and other expenses, agent of Erlanger loan in Paris,   16,000 
 Transmission of C. S. funds,   120,000 
 Compensation of officers, incidental and contingent expenses, including wages of workmen, pay of laborers, if necessary for mints and independent treasury,   50,000 
 Redemption of 1-40 £3,000,000 principal, 7 per cent. foreign loan, due September 1, 1865, £75,000, a $4.85,   363,750 
 Erecting staircase in the building occupied by the treasury department, connecting first and second floors,   2,000 
 Engraving and printing treasury notes,   1,600,000 
 Total,   $4,626,350 

G. A. TRENHOLM,
Secretary of Treasury.


Page 47

WAR DEPARTMENT AND POSTOFFICE DEPARTMENTS.
These estimates are filed with the Department reports.

NAVY DEPARTMENT.
[No. 1.]

        ESTIMATE of the amount required for the compensation of the Secretary of the Navy, clerks, and messengers in his office, from the 1st of January to the 30th of June, 1865.

        
 For salary of the Secretary of the Navy, including increase authorized by the act of June 14th, 1864,   $4,500 
 For salary of chief clerk also corresponding clerk and disbursing agent, including increase authorized by the act of June 14th, 1864,   2,100 
 For salaries of twelve clerks and two draftsmen, including increase authorized by the act of June 14th, 1864, at $2,000 each,   28,000 
 For salary of messenger, including increase authorized by the act of June 14th, 1864,   1,000 
    $35,600 
 Thirty-five thousand six hundred dollars.    

S. R. MALLORY,
Secretary of the Navy.

C. S. NAVY DEPARTMENT,
Richmond, Oct. 12, 1864.

[No. 2.]

        ESTIMATE of the amount required for the Incidental and Contingent Expenses of the Navy Department from the 1st of January to the 30th of June, 1865.

        
 For fuel, lights, stationery, telegrams, postage, furniture, and labor,   $15,000 
    $15,000 
 Fifteen thousand dollars.    

S. R. MALLORY,
Secretary of the Navy.

C. S. NAVY DEPARTMENT,
Richmond, Oct. 12. 1864.


Page 48

[No. 3.]

        ESTIMATE of amount required under the head of Pay of the Navy, for the the half year ending on the 30th day of June, 1865.

        
    For whom required.   Av'ge yearly rate of pay.   Av'ge yearly amount of pay.   Average am't for half year   Amount. 
 4   Admirals,   $6,000   $24,000 00   $12,000 00    
 10   Captains,   4,700   47,000 00   23,500 00    
 31   Commanders,   3,700   114,700 00   57,350 00    
 100   First Lieutenants,   2,834   283,400 00   141,700 00    
 25   Second Lieutenants,   1,815   45,375 00   22,687 50    
 20   Masters in line of promotion,   1,665   33,300 00   16,650 00    
 12   Paymasters,   3,225   38,700 00   14,350 00    
 40   Assistant Paymasters,   1,875   75 000 00   37,500 00    
 22   Surgeons,   3,175   69,850 00   34,925 00    
 15   Passed Assistant Surgeons,   1,950   29,250 00   14,675 00    
 30   Assistant Surgeons,   1,515   45,450 00   22,725 00    
 1   Engineer in Chief,   3,000   3,000 00   1,500 00    
 12   Chief Engineers,   2,960   35,520 00   17,760 00    
 20   Passed Midshipmen,   1,550   31,000 00   15,500 00    
 106   Acting Midshipmen,   500   53,000 00   26,500 00    
 50   First Assistant Engineers,   1,800   90,000 00   45,000 00    
 150   Second Assistant Engineers,   1,600   240,000 00   120,000 00    
 150   Third Assistant Engineers,   1,400   210,000 00   105,000 00    
 10   Boatswains,   1,725   17,250 00   8,625 00    
 20   Gunners,   1,725   34,500 00   17,250 00    
 20   Carpenters,   1,725   34,500 00   17,250 00    
 6   Sail-makers,   1,725   10,350 00   5,175 00    
                $777,622 50 
 Commutations for fuel and quarters to officers, included    
 For pay of 5,000 seamen, ordinary seamen, firemen, coal-heavers, landsmen, and boys, at $288 per annum,   720,000 00 
 For contingencies not otherwise estimated, say 10 per cent,   149,762 25 
 Total amount required for pay of the navy for half year ending 30th of June, 1865,   $1,647,384 75 


        NOTE.--As there will be in the treasury on the 1st of January next a balance of former appropriations for "pay of the navy" of about one million of dollars, the sum of six hundred and forty seven thousand three hundred and eighty-four dollars and seventy-five cents of the estimate only will be required.


Respectfully submitted,

JAMES A. SEMPLE.
Paymaster C. S. N., in charge.

NAVY DEPARTMENT, October 12, 1864.

S. R. MALLORY,
Secretary of the Navy.


Page 49

[No. 4.]

        ESTIMATE of amount required under the head of Provisions, Clothing and Contingencies in Paymasters' Department, for half year ending on the 30th day of June, 1865:

        
 FOR WHAT PURPOSE.   No. of Rations.   Average cost of Ration.   Amount.   Amount. 
 For the subsistence of 5,000 men for the six months, one ration per day, 5,000 for 181 days,   905,000   $3 25   $2,941,250 00    
 For contingencies in Paymasters' Department, as for freight, rents, cooperage, storage, lights, &c.,         75,250 00    
 For difference between cost and issuing price of clothing, for men,         440,000 00    
 Add for contingencies that cannot be estimated for, say 10 per cent.,         345,650 00    
 Total amount required for provisions, clothing and contingencies in Paymasters' Department, for half year ending June 30, 1865,            $3,802,150 00 

Respectfully submitted,

JAMES A. SEMPLE,
Paymaster C. S. N., in charge.

OFFICE PROVISIONS AND CLOTHING,
October 12, 1864.

S. R. MALLORY,
Secretary of Navy.

NAVY DEPARTMENT,
October 12, 1864.

[No 5.]

        ESTIMATE of the Amount required under the head of Ordnance and Ordnance Stores for the Navy, from January 1st to June 30, 1865.

        
 For cannon,   200,000 
 For gun-carriages and equipments,   100,000 
 For projectiles of all kinds,   700,000 
 For laboratory and other stores,   50,000 
 For cannon and musket powder and saltpetre,   150,000 
 For pay of mechanics, laborers, &c.,   600,000 
 For improvements and repairing buildings at Richmond, Charlotte, Columbia, Augusta and Selma,   200,000 
 For machinery, tools, &c.,   200,000 
 For expenses naval powder mill, Columbia,   30,000 
 Carried forward,   $2,230,000 


Page 50

 Brought forward,   $2,230,000 
 For contingent expenses, including freight and transportation, hire of agents, teams, wagons and horses, rent of store-houses, machinery, &c., and for fuel, lights, postage and stationery,   100,000 
    $2,330,000 
 Twenty-three hundred and thirty thousand dollars.    

JOHN M. BROOKE,
Commander in Charge.

C. S. NAVY DEPARTMENT,
Office of Ordnance and Hydrography,
October 12, 1864.

S. R. MALLORY,
Secretary of the Navy.

NAVY DEPARTMENT,
October 12, 1864.

[No. 6.]

        ESTIMATE of the Amount required for the Const uction of Iron-Clad Vessels in the Confederate States, including amount necessary to complete those now under construction, from the 1st of January to the 30th of June, 1865.

        
 For construction of iron-clad vessels in the Confederate States,   4,000,000 
    $4,000,000 
 Four millions of dollars.    

S. R. MALLORY,
Secretary of the Navy.

C. S. NAVY DEPARTMENT,
Richmond, Oct. 12, 1864.

[No. 7.]

        ESTIMATE of the Amount required for repairs of Vessels from the 1st of January to the 30th of June, 1865.

        
 For repairs of vessels,   400,000 
    $400,000 
 Four hundred thousand dollars.    

S. R. MALLORY,
Secretary of the Navy.

C. S. NAVY DEPARTMENT,
Richmond, Oct. 12, 1864.


Page 51

[No. 8.]

        ESTIMATE of the Amount required for the Equipment and Stores of Vessels, including wear and tear, from January 1st to January 30th, 1865, inclusive.

        
 For the equipment and stores of vessels,   $600,000 
 (Six hundred thousand dollars.)    

Respectfully submitted.

S. S. LEE,
Captain in Charge Office of Orders and Detail.

RICHMOND, VA.
6th October, 1864.

S. R. MALLORY,
Secretary of the Navy.

NAVY DEPARTMENT,
Richmond, Oct. 12, 1864.

[No. 9.]

        ESTIMATE of the amount required under the head of "Contingent Enumerated," from January 1st to June 30th, 1865, inclusive, for the following purposes, viz:

        Freight and transportation, printing and stationery, advertising, models and drawings, repair of fire engines and hose, maintenance of horses and oxen and drawing teams, carts, lumber wheels and the purchase and repair of working tools, postage on public letters, fuel, oil and candles for navy yards and shore stations, pay of watchmen and incidental labor not chargeable to other appropriations, wharfage, dockage and rent, travelling expenses of officers and others under orders, funeral expenses, store and office rent, commissions and pay of navy agents and clerks, pay of naval storekeepers and clerks, flags, awnings and packing boxes, books for libraries of vessels, provisions and other expenses of recruiting, apprehending deserters, per diem pay of persons attending courts martial, courts of inquiry and other services authorized by law, pay of judge advocates, pilotage and tonnage of vessels, and assistance to vessels in distress, and for bills of health and for quarantine expenses.

        
 For contingent enumerated,   $800,000 
 (Eight hundred thousand dollars.)    

Respectfully submitted,

S. S. LEE,
Captain in charge office Orders and Detail.

RICHMOND, VA., October 6, 1864.

S. R. MALLORY,
Seeretary of the Navy.

NAVY DEPARTMENT,
Richmond, October 12, 1864.


Page 52

[No. 10.]

        ESTIMATE of the amount required for fuel for steamers, stations and navy yards from January 1st to June, 30th, 1865, inclusive:

        
 Fuel for steamers, stations and navy yards,   $500,000 
 (Five hundred thousand dollars.)    

Respectfully submitted,

S. S. LEE,
Captain in charge office of Orders and Detail.

RICHMOND, VA., October 6, 1864.

S. R. MALLORY,
Secretary of the Navy.

NAVY DEPARTMENT,
Richmond, October 21, 1864.

[No. 11.]

        ESTIMATE for Sub-marine Batteries from January 1st to June 30th, 1865, inclusive:

        
 For sub-marine batteries,   $500,000 
 (Five hundred thousand dollars.)    

Respectfully submitted,

S. S. LEE,
Captain in charge office of Orders and Detail.

RICHMOND, VA., October 6, 1864.

S. R. MALLORY,
Secretary of the Navy.

NAVY DEPARTMENT,
Richmond, October 12, 1864.

[No. 12.]

        ESTIMATES of the amount required for Medical Supplies and Surgeons' Necessaries from the 1st of January to the 30th of June, 1865.

        
 For hospitals and hospital supplies at Richmond, Wilmington, Charleston, Savannah, Mobile, Columbus, St. Marks, Halifax and Selma,   $150,000 
 For the purchase of medicines, medical supplies and surgical instruments,   200,000 
 Carried forward,   $350,000 


Page 53

 Brought forward,   $350,000 
 For contingencies, pay of travelling agents, employees, transportation expenses, &c.,   25,000 
    $375,000 
 (Three hundred and seventy-five thousand dollars.)    

W. A. W. SPOTSWOOD,
Surgeon in charge.

C. S. NAVY DEPARTMENT,
Office Medicine and Surgery,
Richmond, October 5, 1864.

S. R. MALLORY,
Secretary of the Navy.

NAVY DEPARTMENT,
Richmond, October 12, 1864.

RECAPITULATION

        OF ESTIMATES of the Navy Department for six months, from the 1st of January to the 30th of June, 1865, inclusive:

        
 [No. 1.]    
 Estimate of the amount required for the compensation of the "Secretary of the Navy, clerks and messengers in his office,"   $35,600 00 
 [No. 2.]    
 Estimate of the amount required for "Incidental and Contingent expenses of the Navy Department,"   15,000 00 
 [No. 3.]    
 Estimate of the amount required under the head of "Pay of the Navy,"   647,384 75 
 [No. 4.]    
 Estimate of the amount required under the head of "Provisions and Clothing,"   3,802,150 00 
 [No. 5.]    
 Estimate of the amount required under the head of "Ordnance and Ordnance Stores."   2,330,000 00 
 [No. 6.]    
 Estimate of the amount required for the "Construction of Ironclad vessels,"   4,000,000 00 
 Carried forward,   $10,830,134 75 


Page 54

 Brought forward,   $10,830,134 75 
 [No. 7.]    
 Estimate of the amount required for "Repairs of Vessels,"   400,000 00 
 [No. 8.]    
 Estimate of the amount required for "Equipments and Stores of Vessels,"   600,000 00 
 [No. 9.]    
 Estimate of the amount required under the head of "Contingent Enumerated,"   800,000 00 
 [No. 10.]    
 Estimate of the amount required under the head of "Fuel for Steamers, Navy-yards and Stations."   500,000 00 
 [No. 11.]    
 Estimate of the amount required for "Submarine Batteries,"   500,000 00 
 [No. 12.]    
 Estimate of the amount required for Medical Supplies and Surgeon's Necessaries,   375,000 00 
    $14,005,134 75 

        Fourteen million five thousand one hundred and thirty-four dollars and seventy-five cents.

S. R. MALLORY,
Secretary of Navy.

NAVY DEPARTMENT,
October 12, 1864.

STATE DEPARTMENT.

        APPROPRIATIONS required by the Department of State for the six months ending June 30, 1865:

        
 For Foreign Intercourse--       
 Salaries of five Commissioners,   $30,000 00    
 and three Secretaries,   5,400 00    
       $35,400 00 
 (References: Secret acts Provisional Congress, 13 and 27 February, 1861, Nos. 7 and 39, and act of August 20, 1861, ch. 25)       
 Carried forward,      $35,400 00 


Page 55

 Brought forward,      $35,400 00 
 Salaries of 5 Commercial Agent,      6,150 00 
 [Act of 15 March, 1861, ch. 44.] Incidental and contingent expenses of Foreign intercourse,      7,500 00 
       $49,050 00 
 For salary of Secretary of State. [Act of 21 Feb., 1861, ch. 6, and of 14 June, 1864, chap. 45,]   $4,500 00    
 For salary of chief clerk. [Act of 7 March, 1861, chap. 30, of 13 October, 1862, ch. 47, and of 14 June, 1864, ch. 45,]   2,000 00    
 For salary of 3 clerks, [Same references,]   6,000 00    
 For compensation of disbursing officer, [Act of May 16, 1861, ch. 21, and of 13 October, 1862, ch. 47.]   100 00    
 For salary of one messenger, [Act of March 7, 1861, ch. 30, of 13 October, 1862, ch. 47, and of 14 June, 1864, ch. 45,]   1,000 00    
 For pay of one laborer, [same references, and ch. 49, of 29 April, 1863, and ch. 45 of 14 June, 1864,)   705 00    
       $14,305 00 

J. P. BENJAMIN,
Secretary of State.

DEPARTMENT OF JUSTICE.

CONFEDERATE STATES OF AMERICA,
Department of Justice,
Richmond, Va., Oct. 12, 1864.

To the President:

        SIR: I have the honor to submit the following estimates of expenditures for this Department, from the 1st day of January, 1865, to the 30th of June, 1865, inclusive:

        
 1. For compensation of Attorney General, Assistant Attorney General, clerks and messenger,   15,000 
 2. For incidental and contingent expenses of Department,   6,000 
 3. For a law library for the Department,   10,000 
 4. For salaries of Judges and Attorneys, and incidental and contingent expenses of courts,   80,000 
 5. For salaries of three Commissioners under the Sequestration act, for clerk hire, and incidental expenses of the board,   5,000 


Page 56

 6. For salaries of Governor and Commissioner of Indian Affairs, of Secretary, and of Judges, Attorney, and Marshal of Arizona Territory,   5,000 
 7. For contingent expenses of said Territory, to be expended by the Governor,   500 
 8. For compensation of Superintendent of Public Printing, clerks, and messenger in his office,   9,650 
 9. For printing, binding, and ruling for the several Executive Departments,   150,000 
 10. For printing, binding, and ruling for both Houses of Congress, including the printing of the Laws in the authorized form, and the Journals of Congress,   80,000 
 11. For the publication and printing of the Acts and Resolutions of Congress in the newspapers,   50,000 
 12. For the purchase of paper for the several Executive Departments and Congress,   $300,000 

Very respectfully,
Your obedient servant,

GEO. DAVIS,
Attorney General.

CONFEDERATE STATES OF AMERICA,
Department of Justice,
Richmond, Va., Oct. 19, 1864.

To the Secretary of the Treasury:

        SIR: Since the estimates of the 13th inst., for the expenditures of this Department, were sent to the Secretary of the Treasury, I have ascertained that there will be a deficiency in the appropriation for the period ending 31st December, 1864. I have, therefore, the honor to submit the following estimates to supply the deficiency for the year ending 31st December, 1864:

        
 For compensation of Attorney General, Assistant Attorney General, clerks and messenger,   1,129 79 
 For compensation of Superintendent of Public Printing, clerks and messenger,   $2,794 47 

Very respectfully,
Your obedient servant,

GEO. DAVIS,
Attorney General.