Take for instance the actual expenditure, as given
| by the Finance Report: | 13,363,098 | dollars. |
| And the actual Net Receipts | 11,389,698 | |
| ————— | ||
| There will be a deficit of | 1,973,400 | |
| ————— |
Add to the receipts one tenth, in lieu of one fifth, (as assumed by Mr. Esteva,) and there will still be a deficit of nearly one million, viz.:
| Dollars. | ||||
| Expenditure | 13,363,098 | |||
| Receipts | 11,389,698 | 12,528,675 | ||
| One tenth | 1,138,969 | |||
| ————— | ||||
| Deficit | 834,423 | |||
Add a seventh even, and still there is a deficit of 346,296 dollars. It is, therefore, upon the fact of the produce of the last two months having been equal, or very nearly so, to that of the other ten, that Mr. Esteva's whole calculation turns; and this, from all that I have stated, must, I fear, appear very doubtful.
Besides, it must not be forgotten, that while the receipts (upon paper) have been carried as high as possible, in order to produce the favourable result given by Mr. Esteva's Report, the estimates of the War Department were reduced considerably below the lowest estimate given for the year by the Minister of War, in the Report of which the Third Section of this Book contains an analysis.
The expenses of the Army and Navy, were there
