US Presidency
1844

Although all interest has ceased upon them and the Government has invited their return to the Treasury, yet they remain outstanding, affording great facilities to commerce, and establishing the fact that under a well regulated system of finance the Government has resources within itself which render it independent in time of need, not only of private loans, but also of bank facilities. The only remaining subject of regret is that the remaining stocks of the Government do not fall due at an earlier day, since their redemption would be entirely within its control. As it is, it may be well worthy the consideration of Congress whether the law establishing the sinking fund ( under the operation of which the debts of the Revolution and last war with Great Britain were to a great extent extinguished ) should not, with proper modifications, so as to prevent an accumulation of surpluses, and limited in amount to a specific sum, be reenacted.