The total receipts into the Treasury for the year ending June 30, 1850, were $47,421,748: expenditures during the same period $43,002,168. The public debt has been reduced $495,276. Part of the public debt amounting to $8,075,986 must be provided for within the next two years. A modification of the tariff is strongly recommended; so as to impose specific duties sufficient to raise the requisite revenue, and making such discrimination in favor of the industrial pursuits of our own country as to encourage home production without excluding foreign competition. Under the present _ad valorem_ system extensive frauds have been practiced which show that it is impossible, under any system of _ad valorem_ duties levied upon the foreign cost or value of the article, to secure an honest observance and an effectual administration of the law. The establishment of a mint in California is recommended, and also of an agricultural bureau at Washington. The attention of Congress is called to the importance of opening a line of communication between the Valley of the Mississippi and the Pacific. The necessity of a Commissioner to examine the validity of land titles in California is also urged, as well as the propriety of extending, at an early day, our system of land laws, with such modifications as maybe necessary, over California, New Mexico, and Utah. Further provision is required to protect our frontiers from hostile Indians. The navy continues in a high state of efficiency. The report of the Postmaster General is referred to for the condition of that department. The President says he has no doubt of the power of Congress to make appropriations for works of internal improvement, and he therefore recommends that appropriations be made for completing such works as have been already begun, and for commencing such others as may seem to the wisdom of Congress to be of public and general importance. The President also recommends that provision be made by law for the appointment of a commission to settle all private claims against the United States; and the appointment of a solicitor whose duty it shall be to represent the Government before such commission, and protect it against all illegal, fraudulent, or unjust claims, which may be presented for their adjudication.