State of the Union Addresses (1790-2008)United States. Presidents
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State of the Union Addresses (1790-2008)
United States. Presidents
Presidents -- United States -- Messages; United States -- Politics and government -- Sources
The extent of the reduction, indeed, unavoidably involved the exclusion
of many meritorious officers of every rank from the service of their
country; and so equal as well as so numerous were the claims to
attention that a decision by the standard of comparative merit could
seldom be attained. Judged, however, in candor by a general standard of
positive merit, the Army Register will, it is believed, do honor to the
establishment, while the case of those officers whose names are not
included in it devolves with the strongest interest upon the legislative
authority for such provisions as shall be deemed the best calculated to
give support and solace to the veteran and the invalid, to display the
beneficence as well as the justice of the Government, and to inspire a
martial zeal for the public service upon every future emergency.
Although the embarrassments arising from the want of an uniform national
currency have not been diminished since the adjournment of Congress,
great satisfaction has been derived in contemplating the revival of the
public credit and the efficiency of the public resources. The receipts
into the Treasury from the various branches of revenue during the nine
months ending on the 30th of September last have been estimated at $12.5
millions; the issues of Treasury notes of every denomination during the
same period amounted to the sum of $14 millions, and there was also
obtained upon loan during the same period a sum of $9 millions, of which
the sum of $6 millions was subscribed in cash and the sum of $3 millions
in Treasury notes.
With these means, added to the sum of $1.5 millions, being the balance
of money in the Treasury on the 1st day of January, there has been paid
between the 1st of January and the 1st of October on account of the
appropriations of the preceding and of the present year (exclusively of
the amount of the Treasury notes subscribed to the loan and of the
amount redeemed in the payment of duties and taxes) the aggregate sum of
$33.5 millions, leaving a balance then in the Treasury estimated at the
sum of $3 millions. Independent, however of the arrearages due for
military services and supplies, it is presumed that a further sum of $5
millions, including the interest on the public debt payable on the 1st
of January next, will be demanded at the Treasury to complete the
expenditures of the present year, and for which the existing ways and
means will sufficiently provide.
The national debt, as it was ascertained on the 1st of October last,
amounted in the whole to the sum of $120 millions, consisting of the
unredeemed balance of the debt contracted before the late war ($39
millions), the amount of the funded debt contracted in consequence of
the war ($64 millions), and the amount of the unfunded and floating
debt, including the various issues of Treasury notes, $17 millions,
which is in gradual course of payment.
Public-domain text, read in full here on John Shaqi.
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