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Updated: June 21, 2025
The deficiency as stated in the bill amounted to $3,838,728, but after a careful settlement of all these accounts it has been ascertained that it amounts to $4,296,009. With the scanty means at his command the Postmaster-General has managed to pay that portion of this deficiency which occurred in the first two quarters of the past fiscal year, ending on the 31st December last.
Slowly Mike inched the jet power up, and the speed and "gravity" of the rim rose from 0.009 to 0.039 to the pre-scheduled 0.15 of a gravity two RPM at which she would remain until a thorough test schedule over several days had been accomplished. Later tests would put the rim through check-out tests to as high as 1.59 gee, but "normal" operation had been fixed at two RPM.
In order to meet these obligations, the government gradually disposed of its bank stock and by 1802 had sold its entire holdings at a profit of $671,860. A statement submitted to Congress January 24, 1811, by Albert Gallatin, then Secretary of the Treasury, showed resources of $24,183,046, of which $14,578,294 was in loans and discounts, $2,750,000 in United States stock and $5,009,567 in specie.
Up to May 26, 1860, Mr. M. received for the building fund the sum of £45,113, 14s. 4½d. In May, 1859, I had in hand for the Bible, school, tract, and missionary funds, £2,009, 11s. 2½d., a balance far greater than I ever had had before.
The deficiency as stated in the bill amounted to $3,838,728, but after a careful settlement of all these accounts it has been ascertained that it amounts to $4,296,009. With the scanty means at his command the Postmaster-General has managed to pay that portion of this deficiency which occurred in the first two quarters of the past fiscal year, ending on the 31st December last.
The disbursements during the same period were: For Congressional, executive, and judicial purposes, $5,939.009.29; for foreign intercourse, $1,339,710.35; for miscellaneous expenses, including the mints, loans, Post-Office deficiencies, collection of revenue, and other like charges, $14,129,771.50; for expenses under the Interior Department, 985.52; under the War Department, $394,368,407.36; under the Navy Department, $42,674,569.69; for interest on public debt, $13,190,324.45; and for payment of public debt, including reimbursement of temporary loan and 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.
Income from property; rents and royalties 684,343,399 5.67 Interest on bonds, notes, etc. 936,715,456 7.76 Dividends 2,848,842,499 23.59 Total from Property 4,469,901,354 37.02 Total income 12,077,009,284 100.00
The expenditures of the Post-Office Department during the past fiscal year, ending on the 30th June, 1859, exclusive of payments for mail service specially provided for by Congress out of the general Treasury, amounted to $14,964,493.33 and its receipts to $7,968,484.07, showing a deficiency to be supplied from the Treasury of $6,996,009.26, against $5,235,677.15 for the year ending 30th June, 1858.
For Civil List. $47,689.73 " Permanent Settlements, Queen Emma. 12,000.00 " Legislature and Privy Council. 15,288.50 " Extra Legislative Expenses. 19,011.87 " Department of the Judiciary. 72,245.64 " " of Foreign Affairs and War. 78,145.85 " " of the Interior. 389,009.08 " " of Finance. 202,117.05 " " of the Attorney-General 97,097.00 " Bureau of Public Instruction. 89,432.40 " Miscellaneous Expenditures. 170,474.67
Whilst the books of the Treasury show an actual expenditure of $59,848,474.72 for the year ending June 30, 1860, including $1,040,667.71 for the contingent expenses of Congress, there must be deducted from this amount the sum of $4,296,009.26, with the interest upon it of $150,000, appropriated by the act of February 15, 1860, "for the purpose of supplying the deficiency in the revenues and defraying the expenses of the Post-Office Department for the year ending June 30, 1859."
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