t of the
demands upon it, and after reducing the tariff in order to lighten the
burdens of the people, and providing for a still further reduction to
take effect hereafter, it would be much to be deplored if at the end of
another year we should find ourselves obliged to retrace our steps and
impose additional taxes to meet unnecessary expenditures.

It is my duty on this occasion to call your attention to the
destruction of the public building occupied by the Treasury Department,
which happened since the last adjournment of Congress. A thorough
inquiry into the causes of this loss was directed and made at the time,
the result of which will be duly communicated to you. I take pleasure,
however, in stating here that by the laudable exertions of the officers
of the Department and many of the citizens of the District but few
papers were lost, and none that will materially affect the public
interest.

The public convenience requires that another building should be erected
as soon as practicable, and in providing for it it will be advisable to
enlarge in some manner the accommodations for the public officers of
the several Departments, and to authorize the erection of suitable
depositories for the safe-keeping of the public documents and records.

Since the last adjournment of Congress the Secretary of the Treasury
has directed the money of the United States to be deposited in certain
State banks designated by him, and he will immediately lay before you
his reasons for this direction. I concur with him entirely in the view
he has taken of the subject, and some months before the removal I urged
upon the Department the propriety of taking that step. The near approach
of the day on which the charter will expire, as well as the conduct
of the bank, appeared to me to call for this measure upon the high
considerations of public interest and public duty. The extent of its
misconduct, however, although known to be great, was not at that time
fully developed by proof. It was not until late in the month of August
that I received from the Government directors an official report
establishing beyond question that this great and powerful institution
had been actively engaged in attempting to influence the elections of
the public officers by means of its money, and that, in violation of
the express provisions of its charter, it had by a formal resolution
placed its funds at the disposition of its president to be employed in
sustaining th