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With the exception of Great Britain, the United States spends more for naval purposes than any other nation, and this expenditure bears also a larger proportion to the entire national disbursements than that of any other power.
If we look into the establishments of those times with the best of the Irish army, counting the defeat of Blackwater, with all the precedent expenses, as it stood from my Lord of Essex's undertaking of the surrender of Kingsale, and the General Mountjoy, and somewhat after, we shall find the horse and foot troops were, for three or four years together, much about twenty thousand, besides the naval charge, which was a dependant of the same war; in that the Queen was then forced to keep in continual pay a strong fleet at sea to attend the Spanish coasts and parts, both to alarm the Spaniards, and to intercept the forces designed for the Irish assistance; so that the charge of that war alone did cost the Queen three hundred thousand pounds per annum at least, which was not the moiety of her other disbursements and expenses; which, without the public aids, the state of the royal receipts could not have much longer endured; which, out of her own frequent letters and complaints to the Deputy Mountjoy for cashiering of that list as soon as he could, might be collected, for the Queen was then driven into a strait.
The moneys received into the Treasury during the nine months ending on the 30th day of June last amounted to $32 millions, of which near $11 millions were the proceeds of the public revenue and the remainder derived from loans. The disbursements for public expenditures during the same period exceeded $34 millions, and left in the Treasury on the first day of July near $5 millions.
He also made use of the occasion to urge the necessity of providing more generously for the army expenses and other general disbursements. As to ambitious views, he was a stranger to them, and his language at this moment was as patriotic and self-denying as at any previous period.
The moneys received into the Treasury during the nine months ending on the 30th day of June last amounted to $32,000,000, of which near eleven millions were the proceeds of the public revenue and the remainder derived from loans. The disbursements for public expenditures during the same period exceeded $34,000,000, and left in the Treasury on the 1st day of July near $5,000,000.
Executor under the will of the late James T. Sedgwick of Montana: In pursuance of the terms of the aforesaid will and in accord with the instructions set forth by yourself as executor, I present my report of receipts and disbursements for the year in my life ending at midnight on Sept. 22.
When today there was again but little money in hand, because of the disbursements of yesterday, D. C. brought me 2l., which his wife a sister had saved out of housekeeping, for the benefit of the Orphans.
For you I have two hundred pieces, of which thirty have been paid in ransom to the captain, while twenty are due to me for my disbursements over the matter. In this bag you will find the odd hundred and fifty, of which you will pay fifteen to the fishermen who have promised to see you safe to Flushing.
The unpleasant fact is that these dividends were paid with borrowed money merely to make the stock marketable. It is not unlikely that the padded construction accounts, already described, may have concealed large disbursements of money for unearned dividends. When the Metropolitan was listed in 1897, it immediately went beyond par.
In making a contract with Monsieur Houdon it would not be proper to advance money, but as his disbursements and labor advance. As it is a work of many years, this will render the expense insensible. The pedestrian statue of marble, is to take three years; the equestrian, of course, would take much more. Therefore the sooner it is begun, the better.
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