The Sun.
London, England, 1842-12-26 00:00:00

of the' first_ three_ quarters Of the present year-exceed
% twenty-six millions; and those estimated 'for the
fourth quarter amount to about eight millions ; and it
is anticipated there will be a deficiency of half a mil-
lion on the Ist of January next—but that the amount
of outstanding warrants (estimated at. 800,000 dollars)
will leave an actual balance of about 225,000 dollars
in the. Treasury, Among the expenditures of the
year are more than eight millions for the public debt,
and 600,000 dollars on account of the distribution to
the States of the proceeds of the public lands.
The present tariff of duties was somewhat hastily
and hurriedly passed near the close of the late session
of Congress. That it should have defects ean,
therefore, be surprising to no one. To remedy such
defects as may be found to exist in many of its nu-
merous provisions, will not fail to claim your serious
attention. It may well merit inquiry, whether the
exaction of all duties in cash does not call for the In-
troduction of a system which has proved highly bene-
ficial in countries where it has been adopted. I.
refer to the warehousing system. The first and
most prominent effect which it would produce would
be to protect the market alike against redundant or
defficient supplies of foreign fabrics—both of which,
in the long run are injurious as well to the manufac-
turer as the importer. The quantity of goods in store
being at all times readily known, it would' enable the
importer, with an approach to accuracy, to ascertain
the actual wants of the market, and to regulate him-
self accordingly. If, however, he should fall into
error, by importing an excess above the public wants,
he could readily correct its evils by availing himself
of the benefits and advantages of the system thus es-
tablished. In the storehouse the goods imported
would await the demands of the market, and their
issues would be governed by the fixed principle of
demand and supply. Thus an approximation would
be made to a steadiness and uniformity of price, which,
if attainable, would conduce to the decided advantage
of mercantile and mechanical operations.
The apprehension may be well entertained that
without something to ameliorate the rigour of cash
payments, the entire import trade may fall into' the
hands of a few wealthy capitalists in this country, and
in Europe. The small importer, who requires all the
money he can raise for investments abroad, and who.
can but ill afford to pay the lowest duty, would have
to subduct in advance a portion of his ffinde in order
to pay the duties, and would lose the interest upon the
amount thus paid for all the time the goods might
remain unsold, which might absorb his profits. The
rich capitalist abroad, as well as at home, would thus
possess, after a short time, an almost exclusive mo-
nopoly of the import trade, and lawS designed for
the benefit of all, would thus operate for the benefit
of the few—a result wholly uncongenial with the
spirit of our institutions, and anti-republican in all its
tendencies. The warehousing system would enable
the importer to watch_the market, and to select his
own time for offering his goods for sale. A profitable
portion of the carrying trade in articles entered for
the benefit of drawback must also be most seriously
affected, without the adoption of some expedient to
relieve the cash system. The warehousing system
would afford that relief, since the carrier would have
a safe recourse to the public storehouses, and might,
without advancing the duty, reship within some.
reasonable period to foreign ports. A further effect
of the measure would be to supersede the system of
drawbacks, thereby effectually protecting the Go-
vernment against fraud, as the right of debenture
would not attach to goods after their withdrawal from
the public stores.
In revisingthe existing tariff of duties, should you
deem it proper to do so at your present session, I can
only repeat the suggestions and recommendations
which, upon several occasions, I have heretofore felt
it to be my duty to offer to Congress. The great,
primary, and controlling interest of the American
people is union—union not only in the mere forms of
Government, forms which may be broken—but union
founded in an attachment of States and individuals
for each other. This union in sentiment and feeling
can only be preserved by the adoption of that course
of policy which, neither giving exclusive benefits to
some, nor imposing unnecessary burdens upon others,
shall consult the interests of all by pursuing a course
of moderation, thereby seeking to harmonize public
opinion, and causing the people everywhere to feel
and to know that the Government is careful of the-
interests of all alike. Nor is there any subject in
regard to which moderation, connected with a wise
discrimination, is more necessary than in the imposi-
tion of duties on imports. Whetbersxeference be had
to revenue, the primary object in the imposition of
taxes, or to the incidents which necessarily flow, from
their imposition, this is entirely. true. Extravagant
duties defeat their end and, object, not only by ex-
citing in the public mind an hostility to the manu-
facturing interests, but by indnang a system
smuggling on an extensive scale, and 'the practice of
every manner of fraud upon the revenue, which.the
utmost vigilance of Government manot-aetually sup-
press.
An opposite course of policy would be atte.n4e4by.
results essentially different, of wfah"iivery interest
of society, and none more than 'those of the manu-
facturer, would reap important advantages. Among
the most striking of its benefits would bethat derived
from the general acquiescence of the country in its
support, and the consequent permanency and stability
which would be given to all the-operationa of industry.
It cannot be too often repeated, that no system a iv-
gislation can be wise which is fluctuating and uncer-
tain. No interest can thrive under it. The prudent
capitalist will never adventure his capital in manufac-
turing establishments, or in any other leading pursuit
of life, if there exist a state of uncertainty as to
whether the Government will repeal to-morrow what
it has enacted to-day. Fitful profits, howeveriiigh,,
if threatened with a ruinous deduction by a vacil-
lating policy on the part of. Government, will scarcely
tempt him to trust the money which he has acqui `red
by a life of labour upon the uncertain adventure. I, •
therefore, in the spirit of conciliation, and influenced
by no other desire than to rescue the great interests
of the country from the vortex of political contention,
and in the discharge of the high and solemn duties of
the place which I now occupy, recommend moderate
duties imposed with a wise discrimination as to their
several objects, as being not only most likely to' be
durable, but most advantageous to every interest of
society.
The report of the Secretary of the War Departs
ment exhibits a very full and satisfactory account of
the various and important interests committed to the
charge of that officer. It is particularly gratifying
to find that the expenditures for the military service
are greatly reduced in amount--that a strict system
of economy has been introduced into the service, and the
abuses of past years greatly reformed. The fortifications
on our maritime frontier have been prosecuted with
much vigour, and at many points our defences are in
a very considerable state of forwardness. The sug-
gestions in reference to the establishment of means of
communication with our territories on the Facile,
and to the surveys so essential to a knowledge of the
resources of the intermediate country, are entitled to
the most favourable consideration. While I would
propose nothing inconsistent with friendly negotia-
tions to settle the extent of our claims in that region,
yet a prudent forecast points out the necessity of such
measures as may enable us to maintain our rights.
The arrangements made for preserving our neutral
relations on the boundary between us and Texas, and
keeping in check the. Indians in that quarter, will be
maintained so long as circumstances may require.
For several years angry contentions have grown
out of the disposition directed by law to be made of
the mineral lands held by the Government in several
of the States. The Government is constituted the
landlord, and the citizens of the States wherein lie the
lands are its tenants. The relation is an unwise'one,
and it would be much more conduciVe of the public
interest that a sale of the lands should be made, than
that they should remain in their present condition.
The supply of the ore would be more abundantly and
certainly furnished when to be drawn from the enter-
prise and the industry of the proprietor, than unddi
the present system.
The recommendation of the Secretary in regard to
the improvements in the western waters and certain
di doubt not
pwriollmreinceenht,eh,m;b,opururssoenriothues laaktetesi,itmioenr.it, an
The great im-
portance of these subjects to the prosperity :of the
extensive region referred to, and the security of the
cannot escape ob-
servation. The losses of life and Property which
annually occur in the neighbourhood of
whole country in the time of war,
the Missis-
sippi alone, because of the dangerous obstructions in
the river,
of efficientinakealoumdedasemuraensdfourptohner;ngress
you Theacgruewill bring
report
defwitbranch of the pub-
lier:mtaporyrtoafnttheliavy
defences. Gessidering the already vast and daily
increasing commerce of the country, apart froni
exposure to hostile inroad of an extended seaboard, all
theh
thatee
that relates to the navy is calculated to excite peculiar
attention. Whatever tends to add to its efficiency,'
without entailing unnecessary charges 11
-pon the Trea-
sury, is well worthy your serious consideration: It
will be seen that while an appropriation exceeding by
less than a million the appropriations, of the present
year, is asked by the Secretary, yet that in this sum
is proposed to be included 400,000 dollars for the pur-
chase of clothing, which, when once expended, will be
annually reimbursed by the sale of the clothes, and
will thus constitute a perpetual fund, without any,
new appropriation to the same object. To this may
also be added 50,000 dollars, asked to Cover the aver-
ages of past years, and 260,000 dollars, in order to
maintain a competent squadron on the coast of Africa;
all of which, when deducted, will reduce the expendi-
tures to nearly within the limits of those of the cur
rent year. While, however, the expenditures will
thus remain very nearly the same as of the antecedent
year, it is proprosed to add greatly to the operations
of the Marine, and in lieu of 0n1y25 ships in commis-
sion, and but little in the way of building, to keep,
with the same expenditure, 41 vessels afloat, and to
build 'twelve ships of a small elm.

A.'strict'system of accountability is established, and
great pains are taken to insure industry, fidelity, and
economy, in every department of duty. Experiments
have been instituted to test the quality of various
materials, particularly copper, iron, and coal, so as to
prevent fraud and imposition.
It will appear by the report of the -Postmaster-
General that the great point which, for several years,
has been so much desired, has, during the current
year, been fully accomplished ; the expenditure of
the department for the current year have been
brought within its income without lessening its
general usefulness. There has been an increase of
revenue equal to 5,166,000 dols. for the year 1842,
over that of 1841, without, as it is believed, any addi-
tion having been made to the number of letters and
newspapers transmitted through the mails. The
Post-office laws have been honestly administered, and
fidelity has been observed in accounting for, and pay-
ing over by the subordinates of the department, the
moneys which have been received. For the details of
the service, I refer you to the report.
I flatter myself that the exhibition thus made of
the condition of the public administration will serve
to 'convince you that every proper attention has been
paid to the interests of the country by those who have
been called to the heads of the different departments.
The reduction in the annual expenditures of the Go-
vernment already accomplished furnishes a sure evi-
dence that economy in the application of the public
moneys is regarded us a paramount duty.
At peace with all the world, the personal liberty of
the citizen sacredly maintained, and his rights secured
under political institutions, deriving all their autho-
rity, front the direct sanction of the people—with a
soil fertile almost beyond example, and a country
blessed with every diversity of climate and producs
tion, what remains to be done in order to advance the
happiness and prosperity of such a people ? Under
ordinary circumstances this inquiry could readily be
answered.. The best that probably could be done for
a people inhabiting such a country, would be to for-
tify their peacepA security In the prosecution of their
various pus:auip, by guarding them against invasion
from -vvitlibut arid violence from within. The rest, for
the greater part,inight be left to their own energy and
enterprise. The chief embarrassments which at the
moment exhibit themselves have arisen from over
' action ; and the most difficult task which remains to be
accomplished is that of correcting and overcoming its
effects. Between the years 1833 and 1838, additions
were made to bank capital and bank issues, in the
form of notes designed for circulation, to an extent
enormously great. The question seemed to be, not
how the best currency could be provided, but in what
manner the greatest amount of bank paper could be -
put in circulation. Thus a vast amount of what was
called money—since, for the time being, it answered
the purposes'of money—was thrown upon .the coun-
try ; an over issue which was attended, as a necessary
consequence, by an extravagant increase of the prices
of all articles of property, the spread of a speculative
mania all over the country, and has finally ended in a
general indebtedness on the part of States and indi-
viduals, the prostration of public and private credit, a
depreciation in the market value of real and personal
estate, and has left large districts of country almost
entirely without any circulating medium. In view of
the fact that, in 1830, the whole bank-note circula-
tion within the United States amounted to but
61,323,898 dols., according to the Treasury state-
ments, and that an addition had been made
thereto of the enormous sum of , 88,000,000 dols.
in seven years (the circulation on the Ist
of January, 1837, being- stated at 149,185,890
dols.), aided by the great facilities afforded in obtain-
,ing loans from European capitalists, who were seized
with the same speculative mania which prevailed in
the United States--and.the large importation of funds
from abroad, the result of stock sales and loans—no
one can be surprised at the apparent, but unsubstan-
tial state of prosperity which everywhere prevailed
over the land ; and while little cause of surprise
should be felt at the present prostration of everything,
and the ruin which has befallen so many of our fel-
low-citizens in the sudden withdrawal from circula-
tion of so large an amount of bank issues, since 1837
—exceeding, as is .believed, the amount added to the
paper currency for a similar period antecedent to
1837, it ceases to be a matter of astonishment that
such extensive shipwreck should have been made of
private fortunes, or- that difficulties should exist in
meeting their' engagements on the part of the debtor
States. Apart :from which, if there be taken into ac-
count the immense losses sustained in the dishonour of.
numerous banks, it is less a-matter of surprise that in-
solvency should` -have visited many of our fellow-
citizens, than that so many should have escaped the
blighting inliileures of the times.
In thcsolemainenviction of these truths, and with
an ardent desire, to -meet the pressing necessities of
the country, I, felt. it, to be my duty-to cause to be
submitted to,you, iit,4pornmenceine.nt of your late
session, the plan Of an. Exchequer,, the whole power
and duty of iiiaintainrig which, in purify and vigour,
was to be ex6icised by the representatives of the
people and the States,' and, therefore, virtually by the
people themselves. It was proposed to place it under
the controlSna direction of a Treasury board, to con-
sist of three Commissioners,: whose duty. it should' be
to see that the law of its creation was faithfully
executed, and that the great end of supplying a proper
medium of exchange, at all times convertible into
gold and silver; should-be attained. The board' thus
constituted was 'given as much permanency as could
be imparted to it, without endangering the- proper
share of responsibility which should attach to all
public agents. In order to insure all the advantages
of a well-matured experience, the Commissioners were
to hold' their offices for the respective periods of two, .
four, and six years, thereby securing at all times in
the management of the Exchequer, the service of two
men of experience ; and to place them in a condition
to exercise perfect independence of mind and action,
`it was provided that their removal should only take
place for actual incapacity , or infidelity to the trust,
and to be 'followed by the President with an exposi-
tion of the causes of such removal, should it occur.
It was proposed to establish subordinate boards in
each of the States, under the same restrictions and
limitations of the power of removal, which, with the
central board, should receive, safely keep, and dis-
burse the public moneys; and in order to furnish a
sound paper medium of exchange, the Exchequer
should 'retain of the revenues of the Government a sum
not to exceed 5,000,000 dollars in specie, to be set
apart as required by its operations, and to pay the
public creditor at his own option, either in specie or
Treasury notes, of denominations not less than five,
nor exceeding one hundred dollars, which notes should
be redeemed at the several places of issue, and to be
receivable at all times and everywhere in payment of
Government dues ; with a restraint upon such issue of
bills that the same should not exceed the maximum of
150,000 dollars. In order to guard against all the
hazards incident to fluctuations in trade, the Secretary
of the Treasury was invested with authority to issue
5,000,000 dollars of Government Stock, should the
same at any time be regarded as necessary, in order to
place beyond hazard the prompt redemption of
the hills which might be thrown into cir-
culation. Thus, in fact, making the issue of
15,000,000 dollars of Exchequer Bills rest substanti-
ally on 10,00,000 dollars ; and keeping in circulation
never more than one and one-half dollars for every
dollar in specie. 'When to this it is added that the
bills are not only everywhere receivable in Govern-
ment dues, but that the Government itself would be
bound for their ultimate redemption, no rational doubt
can exist that the paper which the Exchequer would
furnish, would readily enter into general circulation,
and be maintained at all times at or above par with
gold and silver • thereby realising the great want of
the age, and fulfilling the wishes of the people.
In order to reimburse the. Government the expenses
of the plan, it was proposed to invest the Exchequer
with the limited authority to deal in bills of exchange,
unless prohibited by the State in which an agency
might be situated, having only thirty days to run, and
resting on a fair and bona fide basis. The Legisla-
tive will on this point might be so plainly announced
as to avoid all pretext for partiality or favouritism.
It was furthermore proposed to invest this Trea-
sury agent with authority to receive on deposit,
to a limited amount, the specie funds of individuals,
and to grant certificates, therefore, to be redeemed on
presentation, under the idea which is believed to be
well-founded, that such certificates would come in aid
of Exchequer-bills in supplying a safe and ample
paper circulation. Or, if in place of the contemplated
dealings in exchange, the Exchequer should be autho-
rised not only to exchange its bills for actual deposits
of specie, but for specie or its equivalent to sell drafts,
charging therefore a small but reasonable premium, I
cannot doubt but-that the benefits of the law would be
speedily manifested in the revival of the credit, trade,
and business of the whole country. Entertaining this
opinion, it becomes my duty to urge its adoption upon
Congress, by reference to the strongest considerations
of the public interests, with such alteration in its de-
.tails as Congress may in its wisdom see fit to make.
I am well aware that this proposed alteration and
amendment of the laws establiihing the Treasury
department has encountered various objections,
and that among others it has been proclaimed a
Government bank of fearful and dangerous import. It
is proposed to confer upon it no extraordinary powers.
It purports to do more than pay the debts of the
Government with the redeemable paper of the Go-
vernment—in which respect it accomplishes precisely
what the Treasury does daily at this time, in issuing
to the public creditors the Treasury notes which,
under law, it is authorised to issue. It has no re-
semblance to an ordinary bank, as it furnishes no
prOfits to private stockholders, and lends no capital to
individuals. If it be objected to as a Government
bank, and the objection be available—then should all
the laws, in relation to the Treasury be repealed,
and' the capacity of the Government to collect what is
due to it, or pay what it owes, be abrogated.
This is the chief purpose of the proposed Exche-
quer; and surely if, in the accomplishment of a pur-

pose so essential, it affords a sound circulating
medium to the country and facilities to trade, it
should be regarded as no slight recommendation of it
to public consideration. Properly guarded by the pro-
visions of law, it can run into no dangerous evil, nor
can any abuse arise under it but such as the Legisla-
ture itself will be answerable for, if it be tolerated ;
since it is but the creature of the law, and is suscep-
tible at all times of modification, amendment, or re-
peal at the pleasure of Congress. I know that it has
been objected that the system would be liable to be
abused by the Legislature, by whom alone it could
be abused, in the party conflicts of the day ; that
such abuse would manifest itself in a change of the
law which would authorise an excessive issue of paper
for the purpose of inflating prices and winning popu-
lar favour. To that it may be answered, that the
ascription of such a motive to Congress is altogether
gratuitous and inadmissible. The theory of our in-
stitutions would lead us to a different conclusion.
But a perfect security against a proceeding so reek-
less, would be found to exist in the very nature of
things. The political party which should be so blind
to the true interests of the country, as to resort to
such an expedient, would inevitably meet with final
overthrow in the fact that, the moment " the paper
ceased to be convertible into specie, or otherwise
promptly redeemed, it would become worthless, and
would, in the end, dislonour the Government, involve
the people in ruin, and such political party in hope-
less disgrace. Al the same time, such a view in-
volves the utter impossibility of furnishing any cur-
rency other than that of the precious metals, for, if
the Crovernment itself cannot forego the temptation of
excessive paper issues, what reliance can be placed
in corporations upon whom the temptations of indi-
vidual aggrandisement would most strongly operate?
The people would have to blame none but themselves
for any injury that might arise from a course so reck-
less, since their agents would be the wrong-doers, and
they the passive spectators.
There can be but three kinds of public currency.
Ist, gold and silver; 2d, the paper of State institu-
tions.; -or 3d, a representative of the precious metals,
provided by the general Government, or under its
authority. The Sub-Treasury system rejected, the
last in any form; and, as it was believed that no re-
liance could be placed on the issues of local institu-
tions, for the purposes of general circulation, it ne-
cessarily and unavoidably adopted specie as the ex-
clusive currency for its own use. And .this•must
ever be the case unless one of the other kinds be used.
The choice, in the present state of public sentiment,
lies between an exclusive specie currency on the one
hand, and Government issues of some kind on the
other. That these issues cannot be made by a char-
tered institution, is supposed to be conclusively set-
tled. They must be made, then, directly by Govern-
ment agents. For several years they have been thus
made in the form of Treasury notes, 'and have an.
swered a valuable purpose. Their usefulness has
been limited by their being transient and temporary.;
their ceasing to bear interest at given periods neces-
sarily causes their speedy return, and thus restricts
their range of circulation ; and being used only in the
disbursements of Government, they cannot reach those
points where they are most required. By rendering
their use permanent, to the moderate extent already
mentioned, by offering no inducement for their re •
turn, and by exchanging them for coin and other va-
lues, they will constitute, to a certain extent, the
general currency so much needed to maintain the
internal trade of the' country. And this is the ea.
chequer plan, so far as it may operate in furnishing a
currency.

I cannot forego the occasion to urge its importance.
to the credit of the Government in a financial point
of view. The great necessity of resorting to every
proper and becoming expedient in order to place the
Treasury on a footing of the highest respectability,
is entirely obvious. The credit of the Government
mar be regarded as the very soul of the Govern-
ment itself—a principle of vitality without which all
its movements are languid and all its, operations em-
barrassed. In this spirit, the Executive . felt itself
bound by the most imperative sense of duty to sub-
mit to Congress, at its last session the propriety of
making a specific pledge of the land fund, and as
the basis for the negotiation of the loans authorised
to be contracted. I then thought that such an
application of the public domain would, without
doubt, have placed at the command of the Go-
vernment ample funds to relieve the Treasury
from the temporary embarrassments under which
it laboured. American credit has suffered a con-
siderable shock in Europe, from the large indebted-
ness of the: States and the temporary inability of
some of them to meet the interest on their debts. The
utter and disastrous prostration of the United State
Bank of Pennsylvania had,contributed largely to in-
crease the sentiment of distrust by reason of the loss
and ruin sustained by the holders of its stock, a large
portion of whom were foreigners, and many of whom
were alike ignorant of our political organization, and
of our actual responsibilities. It was the anxious de-
sire of the Executive that in the effort to negotiate
the loan abroad, the American negotiator might he
able to point the money lender to the fund -mortgaged
ibr the redemption of the principal and interest of any
loan he might contract, and thereby vindicate the
Government from all suspicion of bad faith or inabi-
lity to meet its engagements. Congress differed from
the Executive in this view of the subject. It be-
came, nevertheless, the duty of the Executive to re-
sort to every expedient in its power to negotiate the
authorised loan. After a failure to do so in the •
American market, a citizen of high character and
talent was sent to Europe with no better success ;
and thus the mortifying spectacle has been pre-
sented of the inability of this Government to
obtain a loan so small as not in the whole to
amount to more than one-fourth of its ordi-
nary annual income ; at a time when the Govern-
ments of Europe, although involved in debt, and with
subjects heavily burdened with taxation, readily ob-
tains loans to any amount at a greatly reduced rate
of interest. It would be unprofitable to look further
into this anomalous state of things, but I cannot con-
clude without adding, that for a Government which
has paid off its debts of two wars with the largest
maritime Power of Europe, and now owing a debt
which is almost next to nothing when compared with
its boundless resources—a Government the strongest
in the world, because emanating from the popular
will, and firmly rooted in the affections of a great and
free people, and whose fidelity to its engagements has
never been questioned •, for such a Government to have
tendered to the capitalists of other countries an op-
portunity for a small investment of its stock, and yet
to have failed, implies either the most unfounded dis-
trust in its good faith, or a purpose, to obtain which,
the course pursued is the most fatal which could have
been adopted.
It has now become obvious to all men that the Go-
vernment must look to its own means for supplying
its wants, and it is consoling to know that these means
are altogether adequate for the object. The Exche-
quer, if adopted, will greatly aid in bringing about
this result. Upon what I regard as a well-founded
supposition that its bills would be readily sought for
by the public creditors, and that the issue would, in
a short time, reach the maximum of 15,000,000 dol-
lars, it is obvious that 10,000,000 dollars would
thereby be added to the available means of the Trea-
sury without cost or charge. Nor can I fail to urge
the great and beneficial effects which would be pro-
duced in aid of all the active pursuits of life. Its ef-
fects upon the solvent State banks, while it would
force into liquidation those of an opposite character
through its weekly settlements, would be" highly be-
neficial ; and with the advantages of asound currency,
the restoration of confidence and credit WOuld follow,
with a numerous train of blessings.. My convictions
are most strong that these benefits would flow from
•
the adoption of this measure; but if the result should
be adverse, there is this security in connection with it,
that the law c be repealed at the plea-
surereating it may
of the Legislature, without the slightest implica-
tion of its
good faith.
I recommend to Congress to take into cotaideration
the propriety_ of reimbursing a fine imposed on Gen.
Jackson at New °limns, at the time of the attack
and defence of the city, and paid by him. Without
designing any reflection on the judicial tribunal which
imposed the fine, the remission at this day may be re-
garded as not unjust or inexpedient. The voice of
the civil authority was heard amidst the glitter of
arms, and obeyed by those who held the sword, thereby
giving additional lustre to a memorable military
achievement. If the laws were offended, their majesty
was fully vindicated; and although the penalty incurred
and paid is worthy of little regard in a pecuniary
point of view, it can hardly be doubted that it would
be gratifying to the war-worn veteran, now in re-
tirement and in the winter of his days, to be relieved
from the circumstances in which that judgment
placed him. There are cases in which public func-
tionaries may be called on to weigh the public interest
against their own personal hazards, and if the civil
law be violated from praiseworthy motives, or an
overruling sense of public danger and public necessity,
punishment may well be restrained within that limit
which asserts and maintains the authority of the
law, and the subjection of the military to the civil
power. The defence of New Orleans, while it saved
the city from the hands of an enemy, placed the name
of General Jackson among those of the greatest cap-
tains of the age, and illustrated one of the brightest
pages of our history. Now that the causes of excite-
ment existing at the time have ceased to operate, it
is believed that the remission of this fine, and what-
ever of gratification that remission might cause the
eminent man who incurred and paid it, would be in
accordance with the general feelings and wishes of
the American people.
I have thus, fellow-citizens, acquitted myself of my
duty under the Constitution, by laying before you, as
succinctly as I have been able, the state of the Union,
and by inviting your attention to measures of much
importance to the country. The Executive will most
zealously unite its efforts with those of the Legisla-
tive department in the accomplishment of all that is