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Updated: June 23, 2025
I could at all times have risked my life in defence of my native land, for the love I bore it; though you will perceive that I had a double motive to do so; and the more particularly, as, out of the interest of my funded capital, I maintained in competence an affectionate wife and a dutiful son our only child.
These payments, with those made in the six years and a half preceding, will have extinguished $33,580,000 of the principal of the funded debt, being the whole which could be paid or purchased within the limits of the law and of our contracts, and the amount of principal thus discharged will have liberated the revenue from about $2,000,000 of interest and added that sum annually to the disposable surplus.
It is estimated that the receipts into the Treasury for the fiscal year ending on the 30th of June, 1849, including the balance in the Treasury on the 1st of July last, will amount to the sum of $57,048,969.90, of which $32,000,000, it is estimated, will be derived from customs, $3,000,000 from the sales of the public lands, and $1,200,000 from miscellaneous and incidental sources, including the premium upon the loan, and the amount paid and to be paid into the Treasury on account of military contributions in Mexico, and the sales of arms and vessels and other public property rendered unnecessary for the use of the Government by the termination of the war, and $20,695,435.30 from loans already negotiated, including Treasury notes funded, which, together with the balance in the Treasury on the 1st of July last, make the sum estimated.
On the 1st of January next the entire public debt of the United States, funded and unfunded, will be reduced to within a fraction of $7,000,000, of which $2,227,363 are not of right redeemable until the 1st of January, 1834, and $4,735,296 not until the 2d of January, 1835.
Of funded loan of 1881 37,194,450.00 Of loan of 1858 303,000.00 Of loan of February, 1861 1,000.00 Of five-twenties of 1862 2,100.00 Of five-twenties of 1864 7,400.00 Of five-twenties of 1865 6,500.00 Of ten-forties of 1864 254,550.00 Of consols of 1865 86,450.00 Of consols of 1867 408,250.00 Of consols of 1868 141,400.00 Of Oregon War debt 675,250.00
The expenditures during the fiscal year ending on the 30th of June last were $59,451,177.65, of which $3,522,082.37 was on account payment of principal and interest of the public debt, including Treasury notes redeemed and not funded. The expenditures exclusive of payment of public debt were $55,929,095.28.
The receipts into the Treasury for the fiscal year ending on the 30th of June last were, in cash, $48,830,097.50, and in Treasury notes funded $10,833,000, making an aggregate of $59,663,097.50; and the expenditures for the same time were, in cash, $46,798,667.82, and in Treasury notes funded $10,833,000, making an aggregate of $57,631,667.82.
Mr. * had a property to the N.W. of Sydney, and having considerable funded means when he arrived in the colony, he soon put his property into a state of progressive improvement, and being in truth an excellent practical farmer, it assumed the appearance of regularity and order. Had Mr. * stopped at this moment, he would have been in the enjoyment of affluence and of every rational comfort.
In 1911 the funded debt of the empire was 4,524,000,000 marks, and the funded debt of the states 14,880,000,000; and the floating debt amounts to 991,000,000, of which Prussia alone bears 610,000,000 and the empire 300,000,000. Between the years 1871 and 1897 a debt of $500,000,000 was incurred, bearing an average interest charge of 3 3/4 per cent.
My budget includes a list of programs for potential turnover totaling more than $20 billion. Working with Congress and the governors, I propose we select at least $15 billion in such programs and turn them over to the states in a single consolidated grant, fully funded, for flexible management by the states. The value of this turnover approach is straightforward.
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