US Presidency
1824

Estimating, then, the whole amount of the public debt at $ 79 million and regarding the annual receipts and expenditures of the government, a well founded hope may be entertained that, should no unexpected event occur, the whole of the public debt may be discharged in the course of 10 years, and the government be left at liberty thereafter to apply such portion of the revenue as may not be necessary for current expenses to such other objects as may be most conducive to the public security and welfare.