ry have been happily surmounted by the zealous and judicious
exertions of your predecessors in cooperation with the other branch of
the Legislature. The important objects which remain to be accomplished
will, I am persuaded, be conducted upon principles equally comprehensive
and equally well calculated for the advancement of the general weal.

The time limited for receiving subscriptions to the loans proposed by
the act making provision for the debt of the United States having
expired, statements from the proper department will as soon as possible
apprise you of the exact result. Enough, however, is known already to
afford an assurance that the views of that act have been substantially
fulfilled. The subscription in the domestic debt of the United States
has embraced by far the greatest proportion of that debt, affording at
the same time proof of the general satisfaction of the public creditors
with the system which has been proposed to their acceptance and of the
spirit of accommodation to the convenience of the Government with which
they are actuated. The subscriptions in the debts of the respective
States as far as the provisions of the law have permitted may be said to
be yet more general. The part of the debt of the United States which
remains unsubscribed will naturally engage your further deliberations.

It is particularly pleasing to me to be able to announce to you that the
revenues which have been established promise to be adequate to their
objects, and may be permitted, if no unforeseen exigency occurs, to
supersede for the present the necessity of any new burthens upon our
constituents.

An object which will claim your early attention is a provision for the
current service of the ensuing year, together with such ascertained
demands upon the Treasury as require to be immediately discharged,
and such casualties as may have arisen in the execution of the public
business, for which no specific appropriation may have yet been made;
of all which a proper estimate will be laid before you.

_Gentlemen of the Senate and of the House of Representatives_:

I shall content myself with a general reference to former communications
for several objects upon which the urgency of other affairs has hitherto
postponed any definitive resolution. Their importance will recall them
to your attention, and I trust that the progress already made in the
most arduous arrangements of the Government will afford you leisure to
resume t