{"character_count": 7848, "word_count": 1333, "ccnet_language_score": [0.9574000239372253], "ccnet_perplexity": [726.5], "fasttext_language": ["en"]}
To argue against any proposed plan, its liability possible abuse, IS to reject every expedient, since every thing dependent on human action is liable to abuse Fifteen millions of Treasury notes may be is- sued the mdriMuu, but discretionary power is to be given the Board of Control, under that sum- and every consideration will unite in leading them to feel their way with caution. For the eight first years o the existence of the late Bank ot the United States, its circulation barely exceeded $4'OOOOOO; and for five ct its most prosperous years was about equal Sl60OC OO0 furthermore, the authority given to receive privatejdeposites to limited amount, and to issue certificates in such sums as may be called tor by the deposors, may far fill up the channels of circulation greatly to diminish the necessity Of any considerable issue of Treasury notes.

 A restraint upon the amount of private deposits has St emed to be indspensably necessary, from an apprehension thought to be well founded that in any emergency of trade confidence might be so far sha ken n the banks as to induce withdrawal from them ot private dePosltes, with a view to their unquestionable safety when deposited with the Co., vernment which might prove eminently disastrous to the State Banks lsit objected that it is proposed to authorize the agencies to deal in Bills of Ex- change? It is answered that such dealings are to be carried on at the lowest possible premium-are made to rest on an unquestionably sound bass-are designed to reimburse merely the expenses which would otherwise devolve upon the Treasury and are in strict subordnation the decision of the Supreme Court, in the case of the Bank of Augusta against all conflict with State jurisdiction which hold to be indispensaby requisite. It leaves the banking privi- leges of the States without interference-ooks to the Treasury and the Union and while furnishing every facility to the irs is careful o the interests of the last.

 But above all, it is created by law, is amendable am to no theory but looking solely the advance ment of the public good, shall be among the very

 first to urge its repeal if it be found not to subserve the purposes and objects for which it may be created Nor will the plan be submitted in any overweening confidence in the suficiency of my own judgment, but with much greater reliance on the wisdom and patriotism of Congress- l cannot abandon this sub iect without urging upon you, in the most emphatic manner, whatever may be your action the sugges- tions which have felt it to be my duty to submit, relieve the Chief Executive Magistrate, by any and all constitutional means from a controlling nowcr ever the public Treasury If, in the plan proposed, should you deem it worthy of your consideration, you will, doubtless, amend it in that particular. For mysef dsclaim all desire to have any control over the public moneys, other than wkat is ndispens:bly necessary to ee;S execute the laws which you may pass debts which many of the States of the Union have contracted abroad, and under which they continue than $2cO ,OOO, and which has been retrbu;ed to them tor the most part, in works of internal im- provement which are destined to prove of vast m- portance in ultimate y advancing their prosperity and wealth. For the debts thus contracted the States ! are alone responsible. can do no more than ex- press the belief that each State will feel itself bound by every consideration of honor, we'll as of inter- est to meet its engagements with punctualiy. The tailure however, ot any State to do so should in no degree affect the credit of the rests and the for eign capitalist will have no just cause to experience

 

 or more of the States may neglect to provide with punctualty the means of redec ming their engage ments. Even such States, should there be any, con sderng the great rnpidity with which their resour ces are developing themselves will not fail to have the means, at no very distant day. to redeem their obligations to the ntternost arhing nor will doubt but that in view of that honorable conduct which has evermore governed the States, and the People ofths unicn, they will each and all resort every legiti- mate expedient, be fore they will forego faithful compliance with their obligations.

 From the report of the Secretary of War; and otll. CT reports accompanying it, yon will be informed of the progress which has been made in the fortifca- tions designed for the protection of our principal cities, roadstends, and inland frontier, during the present year; together with their true state and dition. They will be prosecuted to completion with all the expedition which the means placed by Con- gress at the disposal of the Executive will allow.

 l recommend particularly to your consideration that portion of the Secretarys report which proposes the estabishment of chain of military posts from within our limits The benefit thereby destined to accrue to citizens engaged in the fur trade over that wilderness region. added to the importance of habiting it, and at the same time of giving protection to our frontier settlements, and of establishing the means ot safe intercourse between the American settlements ut the mouth of the Columbia river, and those on this side of the Rocky Mountains, would seem to suggest the importance of carrying into effect the recommendations upon this head with as little delay as may be practicable.

 The report of the Secretary of the Navy, will place you Tn possession of the present condition of that in porant arm of the national defence. Every effort will be made to add to it's efficiency, and cannot too strongly urge upon you liberal appropriations to that branch of the public service. Inducements of the weightest character exist for the adoption of this course of policy Our extended and otherwise ex- posed maritime frontier, calls for protection, to the furnishing of which efectua naval force is inds- pensable We look to no foreign conquests, nor do We propose 10 enter into competition with any other nation for supremacy on inc ocean; but Ii is due not only to the honor but to the security of the people of the United States, that no nation should be permitted to invade our waters at pleasure, and subject our towns and villages to confn grafton or pillage. Eco nomy in all branches of the public service is dre from all the public agents to the people-but parsi- mony alone would suggest the withholding of the necessary means, for the protection of our domestic fresdes from invasion, and national honor fror, disgrace. l would most earnestly recommend to Congress to abstain from all appropriations for ob- self without moment of hesitancy all the respon- sibility of recommending the increase and prompt equipment of that gallant Navy which has lighted p every sea With its victories and spread an imperish- able glory over the country.

 The report of the Postmaster General will claim your particular attention, not only because of the valuable suggestions which it contains but because of the great importance which, at all times attaches increased expense of transporting the mail along the principal routes, necessarily claims the public aiten- ton, and has awakened corresponding solicnde on the part ot the Government. The transmssion intercommunicaton which are every day becoming greater through the building of Railroads, and the application o steam powers but it o be disruis- ed that, in order to do so the Post Ofice Depart ment IS subjected to heavy eXactiOns. The lines of communication between distant parts of the Union. are, to a great extent, occupied by Railroads which in the nature of things, possess complete monopo. ly and the Department is therefore liable to heavy great increase in future, and some timely measure may become necessary to guard against it.