redemptions, $96,096,922.09; making an aggregate of $570,841,700.25,
and leaving a balance in the treasury on the 1st day of July, 1862, of
$13,043,546.81.

It should be observed that the sum of $96,096,922.09, expended for
reimbursements and redemption of public debt, being included also in the
loans made, may be properly deducted both from receipts and expenditures,
leaving the actual receipts for the year $487,788,324.97, and the
expenditures $474,744,778.16.

Other information on the subject of the finances will be found in the
report of the Secretary of the Treasury, to whose statements and views I
invite your most candid and considerate attention.

The reports of the Secretaries of War and of the Navy are herewith
transmitted. These reports, though lengthy, are scarcely more than brief
abstracts of the very numerous and extensive transactions and operations
conducted through those departments. Nor could I give a summary of them
here upon any principle which would admit of its being much shorter than
the reports themselves. I therefore content myself with laying the reports
before you and asking your attention to them.

It gives me pleasure to report a decided improvement in the financial
condition of the Post-Office Department as compared with several preceding
years. The receipts for the fiscal year 1861 amounted to $8,349,296.40,
which embraced the revenue from all the States of the Union for three
quarters of that year. Notwithstanding the cessation of revenue from the
so-called seceded States during the last fiscal year, the increase of
the correspondence of the loyal States has been sufficient to produce a
revenue during the same year of $8,299,820.90, being only $50,000 less
than was derived from all the States of the Union during the previous
year. The expenditures show a still more favorable result. The amount
expended in 1861 was $13,606,759.11. For the last year the amount has been
reduced to $11,125,364.13, showing a decrease of about $2,481,000 in the
expenditures as compared with the preceding year, and about $3,750,000 as
compared with the fiscal year 1860. The deficiency in the department
for the previous year was $4,551,966.98. For the last fiscal year it was
reduced to $2,112,814.57. These favorable results are in part owing to the
cessation of mail service in the insurrectionary States and in part to a
careful review of all expenditures in that department in the interest of
economy. The effici