US Presidency
1820

The revenue depends on the resources of the country, and the facility by which the amount required is raised is a strong proof of the extent of the resources and of the efficiency of the Government. A few prominent facts will place this great interest in a just light before you. On [ 1815 - 09 - 30 ], the funded and floating debt of the United States was estimated at $ 119,635,558. If to this sum be added the amount of 5 % stock subscribed to the Bank of the United States, the amount of Mississippi stock and of the stock which was issued subsequently to that date, and as afterwards liquidated, to $ 158,713,049. On [ 1820 09 - 30 ], it amounted to $ 91,993,883, having been reduced in that interval by payments $ 66,879,165.