When did the Fiscal year start in 1837? October 1st? or January 1st?
From 1789 until 1842, the fiscal year of the US Treasury officially followed the calendar year, but why did President Van Buren say in 1837 that it was October 1st? The Treasury report was typically compiled and delivered to Congress along with the President's Annual Address in early December, but sometimes, the President delivered his annual address in November or even October. For example, James Monroe delivered his fourth annual address on November 14, 1820, and Thomas Jefferson his 8th on November 8th, 1808. In those years, the President still provided a summary of the treasury report but had to rely on preliminary numbers. In 1820, President Monroe provided a summary of the treasury receipts ending September 30. These varying dates would have made it difficult for both the Treasury department and Congress who relied on the numbers for their budget appropriation bills and to avoid continuing resolutions. Officially, the fiscal year ended on December 31st, but it seems that unofficially it ended on October 1st or even earlier some years. In 1837, President Martin Van Buren suggested changing from October 1st to April 1st.
"A change in the period of terminating the fiscal year, from the 1st of October to the 1st of April, has been frequently recommended, and appears to be desirable."
It’s not clear, but Van Buren, seems to be suggesting that the Fiscal year end on April 1st. This would make the treasury department better align with the dates that Congress was in Session. Because of the hot and sultry weather in Washington DC, Congress took a summer recess to go back to their home states. In the 1800s, except for a few exceptions, Congress was usually in session from December until April or May. Incidentally, Van Buren's Secretary of the Treasury, delivered his 1837 report on September 5th. Perhaps, this raised some concerns with either Van Buren himself, the Treasury department or members of Congress. It also supports the notion that the fiscal year informally ended on October 1st or even earlier.
Congress did not take immediate action, but five years later President John Tyler signed into law an official change to the fiscal year of the Treasury of the United States. Beginning in 1843, the first day of the Fiscal year was to end on June 30 and begin on July 1st. These dates stood until the Congressional Budget Act of 1974 modified the fiscal year to end on September 30 and start on October 1st. It has remained until today. Looks like Van Buren finally got his desire. The more things change the more they stay the same. What has changed though, is when the President delivers his State of the Union Address. In 2024, President Joseph R. Biden delivered his address on March 7, 2024. Of course, today, Congress remains in session well past March or April.
References
“First Annual Message.” First Annual Message | The American Presidency Project, 5 Dec. 1837, www.presidency.ucsb.edu/documents/first-annual-message-4
https://budgetcounsel.com/cyclopedia-budgetica/cb-fiscal-year/
TWENTY-SEVENTH CONGRESS. SESS. II. C H. 227,228. 1842. Pgs 536-537
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