US Presidency
1843

Although on the 1st of October last there was a balance in the Treasury, in consequence of the provisions thus made, of $ 3,914,082.77, yet the appropriations already made by Congress will absorb that balance and leave a probable deficiency of $ 2,000,000 at the close of the present fiscal year. There are outstanding Treasury notes to about the amount of $ 4,600,000, and should they be returned upon the Treasury during the fiscal year they will require provision for their redemption. I do not, however, regard this as probable, since they have obviously entered into the currency of the country and will continue to form a portion of it if the system now adopted be continued. The loan of 1841, amounting to $ 5,672,976.88, falls due on the 1st day of January, 1845, and must be provided for or postponed by a new loan; and unless the resources of revenue should be materially increased by you there will be a probable deficiency for the service of the fiscal year ending June 30, 1845, of upward of $ 4,000,000.