ns during the present year to the
discharge of the principal and interest of the debt, nor the reduction
of upward of seven millions of the capital of the debt itself. The
balance in the Treasury on the 1st of January last was $5,201,650.43;
the receipts from that time to the 30th of September last were
$19,585,932.50; the receipts of the current quarter, estimated at
$6,000,000. yield, with the sums already received, a revenue of about
twenty-five millions and a half for the year; the expenditures for the
three first quarters of the year have amounted to $18,714,226.66; the
expenditures of the current quarter are expected, including the two
millions of the principal of the debt to be paid, to balance the
receipts; so that the expenses of the year, amounting to upward of a
million less than its income, will leave a proportionally increased
balance in the Treasury on the 1st of January, 1827, over that of the
1st of January last; instead of $5,200,000 there will be $6,400,000.

The amount of duties secured on merchandise imported from the
commencement of the year till September 30 is estimated at $21,250,000,
and the amount that will probably accrue during the present quarter is
estimated at $4,250,000, making for the whole year $25,500,000, from
which the drawbacks being deducted will leave a clear revenue from the
customs receivable in the year 1827 of about $20,400,000, which, with
the sums to be received from the proceeds of public lands, the bank
dividends, and other incidental receipts, will form an aggregate of
about $23,000,000, a sum falling short of the whole expenses of the
present year little more than the portion of those expenditures applied
to the discharge of the public debt beyond the annual appropriation of
$10,000,000 by the act of the 3d March, 1817. At the passage of that act
the public debt amounted to $123,500,000. On the 1st of January next it
will be short of $74,000,000. In the lapse of these ten years
$50,000,000 of public debt, with the annual charge of upward of
$3,000,000 of interest upon them, have been extinguished. At the passage
of that act, of the annual appropriation of ten millions seven were
absorbed in the payment of interest, and not more than three millions
went to reduce the capital of the debt. Of the same ten millions, at
this time scarcely four are applicable to the interest, and upward of
six are effective in melting down the capital. Yet our experience has
proved that a reve