US Presidency
1827

But of these $ 22,000,000, upward of $ 6,000,000 have been applied to the discharge of the principal of the public debt, the whole amount of which, approaching $ 74,000,000 on 1827 - 01 01, will on 1828 - 01 01 fall short of $ 67,500,000. The balance in the Treasury on 1828 - 01 01 it is expected will exceed $ 5,450,000, a sum exceeding that of 1825 01 01, though falling short of that exhibited on 1827 - 01 01. It was foreseen that the revenue of the present year 1827 would not equal that of the last, which had itself been less than that of the next preceding year. But the hope has been realized which was entertained, that these deficiencies would in no wise interrupt the steady operation of the discharge of the public debt by the annual $ 10,000,000 devoted to that object by the act of 1817 - 03 - 03.