----------
$26,300,000
==========

FUNDS PROVIDED.

Balance in Treasury, January 1 $2,000,000
Receipts from duties and sales of lands
as by estimate of November 22, 1811 8,200,000
Loan authorized by law 11,000,000
Treasury notes as authorized by House
of Representatives 5,000,000
----------
$26,200,000

The issue of _treasury notes_ was a novel experiment in the United
States; but they were favorably received, and Mr. Gallatin calculated
that the full amount authorized by law, $5,000,000, could be put in
circulation during the year. The result of a loan seemed more doubtful.
The old six per cents. and deferred stock had already fallen two or
three per cent. below par. Mr. Gallatin again recommended the conversion
of these securities into a new six per cent. stock, which would
facilitate the new loan, and to prevent the necessity of applying, the
same years, the large sums required in reimbursement of and purchase of
the public debt.

On December 1 Mr. Gallatin made his last annual statement.

_Treasury Report for Fiscal Year ending September_ 30, 1812.

RECEIPTS.

Customs, sales of lands, etc. $10,934,946.20
On account of loan of eleven millions,
act 14 March, 1812 5,847,212.50
--------------
$16,782,158.70
Balance in Treasury October 1, 1811 3,947,818.36
--------------
$20,729,977.06
==============

DISBURSEMENTS.

Civil Department, foreign intercourse $1,823,069.35
Army, militia, forts, etc. $7,770,300.00
Navy Department 3,107,501.54
Indian Department 230,975.00
------------- 11,108,776.54
Interest on debt $2,498,013.19
On account of principal 2,938,465.99
------------- 5,436,479.18
--------------
$18,368,325.07
Leaving in Treasury 30 Sept., 1812 2,361,652.69
--------------