DECEMBER 2ND, 1861: In his first annual report, Secretary of the Navy Welles reported to President Lincoln that: "Since the institution of the blockade one hundred and fifty-three vessels have been captured ... most of which were attempting to violate the blockade ... When the vessels now building and purchased are ... ready for service, the condition of the navy will be ... a total of 264 vessels, 2,557 guns, and 218,016 tons.
"The aggregate number of seamen in the service ... is now not less than 22,000 ... The amount appropriated at the last regular session of Congress for the naval service for the current year was $13,168,675.86. To this was added at the special session in July last $30,446,875.91 -- making for the fiscal year ending June 30, 1862, an aggregate of $43,615,551.77.
"This sum will not be sufficient...."
Wonder Who Got the 77 Cents? --Old B-Runner