US Presidency
1825

As the object which it had in view has been but partially accomplished, it will be for the consideration of Congress whether the power with which it clothed the executive should not be renewed at an early day of the present session, and under what modifications. The act of Congress of the 3rd of March last, directing the Secretary of the Treasury to subscribe, in the name and for the use of the United States, for 1,500 shares of the capital stock of the Chesapeake and Delaware Canal Company, has been executed by the actual subscription for the amount specified; and such other measures have been adopted by that officer, under the act, as the fulfillment of its intentions requires. The latest accounts received of this important undertaking authorize the belief that it is in successful progress. The payments into the Treasury from the proceeds of the sales of the public lands during the present year were estimated at $ 1,000,000.