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Sammelband of Treasury and Navy Reports, 1806-1807, Washington, DC. 192 pp. total, 8 x 12 3/4 in.; interior pages trimmed to 7 1/2 x 12-3/8 in. Secretary of the Treasury Albert Gallatin signed this sammelband collection of ten pamphlets on the inside front cover. Gallatin served as Secretary of the Treasury from 1801 to 1814, in the administrations of Presidents Thomas Jefferson and James Madison. Gallatin submitted all but the last of these reports to the second session of the Ninth Congress between December 1806 and February 1807. Secretary of the Navy Robert Smith submitted the tenth report on January 9, 1807. Brothers Andrew Way (1775-1833) and George Way (1784-1819), printers for Congress, printed each of these pamphlets. Contents and ExcerptsLetter from the Secretary of the Treasury Enclosing a Report Prepared in Obedience to the Act Supplementary to the Act, Intituled "An Act to Establish the Treasury Department." Washington: A. & G. Way, 1806. 26 pp.This pamphlet printed Gallatin's report, submitted to Congress in December 1806, of federal revenues and expenditures for the year ending September 30, 1806. The sale of 473,000 acres of public land generated $13.5 million. Expenditures totaled $11.4 million, of which $8 million was for the payment of principal and interest on the public debt, with the expenses of operating the federal government totaling $3.4 million, including the expenses of the Army and Navy. The remaining public debt was approximately $57.5 million."The total annual expenditure for those seven years [1809-1815] would then, allowing still 3,500,000 dollars for current expenses, and 400,000 for contingencies, amount to something les than twelve millions of dollars; which deducting from a revenue of fourteen millions of dollars, applicable to the new objects of general improvement or national defence, as the legislature might direct, and existing circumstances require. And after the year 1815, no other incumbrance would remain on the revenue, than the interest and reimbursement of the Louisiana stock, the last payment of which in the year 1821, would complete the final extinguishment of the publick debt."Gallatin's calculations could not factor in the expenses of the War of 1812, and the public debt was not completely paid until 1835.Report of the Commissioners of the Sinking Fund, Accompanied with Sundry Statements, Exhibiting the Proceedings Which Have Been Authorized by the Board, Since Their Report, Dated the Fifth of February, 1806. Washington: A. & G. Way, 1807. 30 pp.The First United States Congress established a federal Sinking Fund Commission in 1790 to oversee the repayment of the public debt arising from the Revolutionary War. It consisted of the Secretary of the Treasury, the Secretary of State, the Attorney General, the President of the Senate (Vice President), and the Chief Justice of the Supreme Court. The Commission controlled the disbursement of funds that Congress allocated to repay the national debt.Letter from the Secretary of the Treasury, Transmitting A Statement of the Public Debt on the First Days of January, 1801, 1802, 1803, 1804, 1805, 1806 and 1807, Respectively; Together with Sundry Explanatory Statements and Notes: Prepared in Obedience to a Resolution of the House of the Eighth Ultimo. Washington: A. & G. Way, 1807. 12 pp."It appears from the statements herewith transmitted, that the whole public debt of the United States unprovided for on the days abovementioned, amounted to the following sums respectively, that is to say,"On the first day of January, 1801, Dollars, 81,996,268 49 do. 1802, 78,750,669 83 do. 1803, 74,728,023 98 do. 1804, 85,349,744 35 do. 1805, 80,530,159 78 do. 1806, 74,539,058 75 do. 1807, 67,727,756 76""The debt has therefore during those six years, and notwithstanding the addition made by the purchase of Louisiana, been diminished more than 14,260,000 dollars."Letter from the Secretary of the Treasury, Transmitting a. (See website for full description).
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