d
session, the President expressed much satisfaction at the favourable
prospect of public affairs; and particularly noticed the progress of
public credit, and the productiveness of the revenue.

Adverting to foreign nations,[50] he said, "the disturbed situation of
Europe, and particularly the critical posture of the great maritime
powers, whilst it ought to make us more thankful for the general peace
and security enjoyed by the United States, reminds us at the same time
of the circumspection with which it becomes us to preserve these
blessings. It requires also, that we should not overlook the tendency
of a war, and even of preparations for war among the nations most
concerned in active commerce with this country, to abridge the means,
and thereby at least to enhance the price, of transporting its
valuable productions to their proper market." To the serious
reflection of congress was recommended the prevention of
embarrassments from these contingencies, by such encouragement to
American navigation as would render the commerce and agriculture of
the United States less dependent on foreign bottoms.

[Footnote 50: In a more confidential message to the senate,
all the objects of the negotiation in which Mr. Morris had
been employed were detailed, and the letters of that
gentleman, with the full opinion of the President were
communicated.]

After expressing to the house of representatives his confidence
arising from the sufficiency of the revenues already established, for
the objects to which they were appropriated, he added, "allow me
moreover to hope that it will be a favourite policy with you not
merely to secure a payment of the interest of the debt funded, but as
far, and as fast as the growing resources of the country will permit,
to exonerate it of the principal itself." Many subjects relative to
the interior government were succinctly and briefly mentioned; and the
speech concluded with the following impressive and admonitory
sentiment. "In pursuing the various and weighty business of the
present session, I indulge the fullest persuasion that your
consultations will be marked with wisdom, and animated by the love of
country. In whatever belongs to my duty, you shall have all the
co-operation which an undiminished zeal for its welfare can inspire.
It will be happy for us both, and our best reward, if by a successful
administration of our respective trusts, we can make the established
gov