He recapitulated the various sources of permanent revenue.

They were those of Hamilton's original tariff.
The revenues for the year ended September 30, 1801, were the basis of the estimates for future years.

These were Duties on imports and tonnage $10,126,213.92 Internal revenue 854,000.00 Land sales 400,000.00 -- ------------ $11,380,213.92 But the close of the war in Europe sensibly diminished the enormous carrying trade which fell to the United States as neutrals, and, as a consequence, the revenue from that source; large quantities of goods were brought into the United States and reexported to foreign ports under a system of debenture.

The revenue on what Mr.Gallatin calls "this accidental commerce" was $1,200,000.

He therefore _estimated the permanent revenues at_ Customs duties $9,500,000 Land sales 400,000 Postage 50,000 Internal revenue 650,000 -- --------- $10,600,000 Or, without the internal revenue, say ten millions of permanent revenue, as a basis for _the permanent expenditures_.
To bring the expenditures within this sum, however, a reduction in the army and navy establishments was necessary.