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Published online by Cambridge University Press: 03 February 2011
This study presents three sets of data dealing with Federal Government revenues, expenditures, and financing for the period 1861–1875. These extend and augment the author's previous estimates covering the years through 1860. The first set presents expenditures classified by major function, annual, by fiscal year ending June 30. The second set consists of annual estimates of Federal revenue and expenditures on a money-flow basis comparable to the national income accounts. The two sets differ slightly in totals because of differing degrees of netting.
1 See Paul, B. Trescott,“The United States Government and National Income, 1790–1860,”in Trends in the American Economy in the Nineteenth Century (Princeton, N. J.: Princeton University Press for NBER, 1960)Google Scholar; “Some Historical Aspects of Federal Fiscal Policy, 1790–1956,”in U. S. Cong., Joint Economic Committee, Federal Expenditure Policy for Economic Growth and Stability (Papers Submitted by Panelists). 85th Cong., 1st Sess., 1957. Most of the research for this paper was carried out during the author's tenure as research professor under the auspices of the Brookings Institution during the academic year 1961–1962.
2 Conventional series appear in Historical Statistics of the United States: Colonial Times to 1957 (Washington, D. C: Government Printing Office, 1960), pp. 711–19, and in the Secretary of the Treasury, Annual Report on the State of the Finances, for relevant years.
3 Gold adjustments given for annual data were made on a quarterly basis, using quotations on gold premium from Annual Report of the Comptroller of the Currencu for 1875, p. lxxii.
4 Slade Kendrick, M., A Century and a Half of Federal Expenditures (New York: NBER, 1955).Google Scholar
