them as merely nominal receipts, and their amount, $181,086,635.07,
should therefore be deducted both from receipts and disbursements.
This being done there remains as actual receipts $720,039,039.79 and
the actual disbursements $714,709,995.58, leaving the balance as
already stated.

The actual receipts and disbursements for the first quarter and the
estimated receipts and disbursements for the remaining three-quarters
of the current fiscal year (1864) will be shown in detail by the
report of the Secretary of the Treasury, to which I invite your
attention. It is sufficient to say here that it is not believed
that actual results will exhibit a state of the finances less
favorable to the country than the estimates of that officer
heretofore submitted while it is confidently expected that at the
close of the year both disbursements and debt will be found very
considerably less than has been anticipated.

The report of the Secretary of War is a document of great interest.
It consists of:

1. The military operations of the year, detailed in the report of the
General in Chief.
2. The organization of colored persons into the war service.
3. The exchange of prisoners, fully set forth in the letter of General
Hitchcock.
4. The operations under the act for enrolling and calling out the
national forces, detailed in the report of the Provost Marshal
General.
5. The organization of the invalid corps, and
6. The operation of the several departments of the Quartermaster-