US Presidency
1824

The whole amount of the public debt on the first of January next may be estimated at $ 86 million, inclusive of $ 2.5 million of the loan authorized by the act of the 26th of May last. In this estimate is included a stock of $ 7 million, issued for the purchase of that amount of the capital stock of the Bank of the United States, and which, as the stock of the bank still held by the government will at least be fully equal to its reimbursement, ought not to be considered as constituting a part of the public debt.