ittle cost to
the nation as is consistent with the public interest; and it is for
Congress, and ultimately for the people, to decide whether the benefits
to be derived from keeping our fiscal concerns apart and severing the
connection which has hitherto existed between the Government and banks
offer sufficient advantages to justify the necessary expenses. If the
object to be accomplished is deemed important to the future welfare of
the country, I can not allow myself to believe that the addition to
the public expenditure of comparatively so small an amount as will be
necessary to effect it will be objected to by the people.

It will be seen by the report of the Postmaster-General herewith
communicated that the fiscal affairs of that Department have been
successfully conducted since May last upon the principle of dealing
only in the legal currency of the United States, and that it needs no
legislation to maintain its credit and facilitate the management of its
concerns, the existing laws being, in the opinion of that officer, ample
for those objects.

Difficulties will doubtless be encountered for a season and increased
services required from the public functionaries; such are usually
incident to the commencement of every system, but they will be greatly
lessened in the progress of its operations.

The power and influence supposed to be connected with the custody and
disbursement of the public money are topics on which the public mind is
naturally, and with great propriety, peculiarly sensitive. Much has been
said on them in reference to the proposed separation of the Government
from the banking institutions; and surely no one can object to any
appeals or animadversions on the subject which are consistent with facts
and evince a proper respect for the intelligence of the people. If a
Chief Magistrate may be allowed to speak for himself on such a point,
I can truly say that to me nothing would be more acceptable than the
withdrawal from the Executive, to the greatest practicable extent, of
all concern in the custody and disbursement of the public revenue; not
that I would shrink from any responsibility cast upon me by the duties
of my office, but because it is my firm belief that its capacity for
usefulness is in no degree promoted by the possession of any patronage
not actually necessary to the performance of those duties. But under our
present form of government the intervention of the executive officers
in the custo