A Compilation of the Messages and Papers of the Presidents. Volume 1, part 1: George Washington
History
A Compilation of the Messages and Papers of the Presidents. Volume 1, part 1: George Washington
Presidents -- United States; United States -- History -- Sources; United States -- Politics and government; Washington, George, 1732-1799
The regulation of foreign coins in correspondency with the principles
of our national coinage, as being essential to their due operation
and to order in our money concerns, will, I doubt not, be resumed and
completed.
It is represented that some provisions in the law which establishes
the post-office operate, in experiment, against the transmission of
newspapers to distant parts of the country. Should this, upon due
inquiry, be found to be the fact, a full conviction of the importance of
facilitating the circulation of political intelligence and information
will, I doubt not, lead to the application of a remedy.
The adoption of a constitution for the State of Kentucky has been
notified to me. The Legislature will share with me in the satisfaction
which arises from an event interesting to the happiness of the part of
the nation to which it relates and conducive to the general order.
It is proper likewise to inform you that since my last communication
on the subject, and in further execution of the acts severally making
provision for the public debt and for the reduction thereof, three new
loans have been effected, each for 3,000,000 florins--one at Antwerp, at
the annual interest of 4-1/2 per cent, with an allowance of 4 per cent
in lieu of all charges, and the other two at Amsterdam, at the annual
interest of 4 per cent, with an allowance of 5-1/2 per cent in one case
and of 5 per cent in the other in lieu of all charges. The rates of
these loans and the circumstances under which they have been made are
confirmations of the high state of our credit abroad.
Among the objects to which these funds have been directed to be applied,
the payment of the debts due to certain foreign officers, according to
the provision made during the last session, has been embraced.
_Gentlemen of the House of Representatives_:
I entertain a strong hope that the state of the national finances is
now sufficiently matured to enable you to enter upon a systematic and
effectual arrangement for the regular redemption and discharge of the
public debt, according to the right which has been reserved to the
Government. No measure can be more desirable, whet her viewed with an
eye to its intrinsic importance or to the general sentiment and wish
of the nation.
Provision is likewise requisite for the reimbursement of the loan which
has been made of the Bank of the United States, pursuant to the eleventh
section of the act by which it is incorporated. In fulfilling the public
stipulations in this particular it is expected a valuable saving will
be made.
Appropriations for the current service of the ensuing year and for such
extraordinaries as may require provision will demand, and I doubt not
will engage, your early attention.
_Gentlemen of the Senate and of the House of Representatives_:
I content myself with recalling your attention generally to such
objects, not particularized in my present, as have been suggested
in my former communications to you.
Public-domain text, read in full here on John Shaqi.
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