“A liberal disposition toward this great National policy is manifested by most of the European States, and ought to be reciprocated on our part by giving the immigrants effective National protection. I regard our immigrants as one of the principal replenishing streams which are appointed by Providence to repair the ravages of internal war, and its wastes of National strength and health. “All that is necessary is, to secure the flow of that stream in its present fullness, and to that end, the Government must, in every way, make it manifest that it neither needs nor designs to impose involuntary military service upon those who come from other lands to cast their lot in our country. “The financial affairs of the Government have been successfully administered. During the last year the legislation of the last session of Congress has beneficially affected the revenue, although sufficient time has not yet elapsed to experience the full effect of several of the provisions of the act of Congress imposing increased taxation. The receipts during the year, from all sources, upon the basis of warrants signed by the Secretary of the Treasury, including loans and the balance in the Treasury on the first day of July, 1863, were $1,394,796,007 62, and the aggregate disbursements, upon the same basis, were $1,298,056,101 89, leaving a balance in the Treasury, as shown by warrants, of $96,739,905 73. Deduct from these amounts the amount of the principal of the public debt redeemed, and the amount of issues in substitution therefor, and the actual cash operations of the Treasury were: Receipts, $3,075,646 77; disbursements, $865,734,087 76; which leaves a cash balance in the Treasury of $18,842,558 71. Of the receipts, there were derived from customs, $102,316,152 99; from lands, $588,333 29; from direct taxes, $475,648 96; from internal revenues, $109,741,134 10; from miscellaneous sources, $47,511,448; and from loans applied to actual expenditures, including former balance, $623,443,929 13. There were disbursed for the civil service, $27,505,599 46; for pensions and Indians, $7,517,930 97; for the War Department, $60,791,842 97; for the Navy Department, $85,733,292 79; for interest of the public debts, $53,685,421 69; making an aggregate of $865,234,081 86, and leaving a balance in the Treasury of $18,842,558 71, as before stated. “For the actual receipts and disbursements for the first quarter, and the estimated receipts and disbursements for the three remaining quarters of the current fiscal year, and the general operations of the Treasury in detail, I refer you to the report of the Secretary of the Treasury.