Star.
London, England, 1825-01-08 00:00:00

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UNITED STATES PRESIDENF'S MESSAGE.

(Cawladed frees the Swat of yesterday.)
It is estimated that the receipts into the Treasury
during the current year, exclusive of loans, will exceed
18,.500,0(X) dollars, which, With the sum remaining in
the Treasury at the end of the last year, amounting to
6,463.922 d. 81c. will, after discharging the current dis-
bursements of the year, the interest cm the public debt,
and upwards of 11,633,911 d. 52c. of the principal,
leave a balance of more than $,000,000 dollars in the
Treasury on the Ist day of January next.
A larger amonnt of t!.e debt ..contracted during they,
late war, healing an interest of six .per cent. becoming
redeemable in the course of the ensuing year, than
%, mild be discharged by the ordinary Revenue, the Act
of 26th of May authori-ed a loan of 5,000,()00 dollars
at 4.1 per cent. to meet the same. By this arrangement,
an annual saving will accrue to the Public of seventy-
five thousand dollars.
Under the Act of 24th May last, a loan of 5,000,000
dollars was authorized, in order to meet the awards
under the Florida Treaty, which wes negotiated at par
with the Bank of the United States at 4, ter cent. the
limit of intetest fixed by the Act. By this provision
the claims of our citizen, a his had sustained so great a
loss by spoliatio is, aad front whom indemnity had
been so long withheld, mere promptly paid. For these
advances the public mill be amply repaid, at no distant
day, by the sale of the lands in Florida.
.01 the great
a )vantages resulting from the acquisition of the terri-
tory in other respects, we high t.n estimate cannot
be formed.
It is estimated that the receipt; into the Treasury,
during the year 1825, will be sufficient to meet the dis-
bursements of the year, including the sum of 10:000,000
dollars which is annually appropriated by the Act con-
aiming the sinking fund, for the payment of the prin-
cipal and interest of the public debt.
The whole amount of the public debt on the first day
of January next may be estimated at 85,000,000 dol-
lars, inclusive of 2,500,000 of the loan authorized by
the Act of the 26th of May last. In this estimate is
included a stock of 7,000,000 dollars, issued for the
purcha'e of that amount of the capital stock of the Bank
of the United States, and which, as the stock of the Bank
held by the Government will at least be fully equal to
its reimbursement, ought not to be considered as con-
stituting a part of the public debt. Estimating, then, the
whole amount of the public debt at 79,000,000 dollars,
'and regarding the annual receipts and expenditures of
the Government, a well-founded hope may be enter-
tained, that, should no unexpected event occur, the
whole of the public debt may be discharged in the
course of ten years, and the Government be left at li-
berty afterwards 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. That the sums applicable to these
objects will be very considerable, may be fairly con-
cluded when it is recollected that a large amount of the
public revenue has.been applied, since the rate war, to
the construction of the public buildings in this city, to
the erection of fortifications along the coast, and of
arsenals in different parts of the Union ; to the aug-
mentation of tl a navy ; to the extinguishment of the
Indian title to Loge tracks of fertile tei 'hors, ; to the
acquisition of Farrida ; to pensions to revolutionary
office!: and soldier s ; and to lover+ of the late war.
On many of these objects the expense will annually be
ini.bed, and, tt nu distant period, cease on most or
all. Oa the first day of January, 1817, the public debt
amounted L.)123,491,9651 16c. and, notwithstanding
the large sums which have been applied to these objects,
it has been reduced since then 37;446,961d. 78c. The
last of the public debt will be redeemable on the Ist of
January, 1835, and while there is the best reason to be-
lieve that the resources of the Government will be cons
tinually adequate to such poi Lion of it as may become
due in the interval, it is recommended to Congress to
seize every opportunity which may present itself to re-
duce the laciest upon every pact thereof. The high
state of the public credit, and the great abundance of
money, are at this time very favourable to such a result.
It must be very gratifying to our feilow-citizens to wit-
ness this fl wrislung state of the public finances, when
it is recollected that no burden v. hatever has been im-
posed upon them.
The military establishment, in all its branches, in,
the redo; mance of the various duties assigned to each,
justifies the favourable view which was presented of the
efficiency of its organization at the last Session. All
the appropriations have been regularly applied to the
objects intended by Congress; and, so far as the dis-
bursements have been made, the accounts have been
rendered and settled without loss to the public. The
. condition of the army itself, as relates to the officers
and men, in science and discipline, is highly respect-
able. The Military Academy, on which the army
e,sentially rests, and to which it is much indebted for
this state of improvement, has attained, in comparison
with any other institution of the like kind, a high de-
gree of perfection. Experience, however, has strewn,
that the dispersed condition of the corps of artillery is
unfavourable to the discipline of that important branch
of the military establishment. To remedy this incon-
veni nice, eleven companies have beep assembled at the
fortifications erected at Old Point Comfort, as a school
for artillery lost: uction; with intention, as they shall
be perfected in tl:e various ditties of that service, to
ord:r them to otter posts, and to supply their places
with other companies, fur instruction in like manner.
In this mode, a complete knowledge of the science and
duties of this arm will be extended throughout the
w bole corps of artillery. But to carry thi's object
fully into ett.ct, will require the aid of Congress; to
obtain which, the su!,ject is now submitted to your
consideration.
OF the progress which has been made in the construction
offal tifications fat the permanent defence of our maritime
fro;uier,according to tine plan decided on,and to the extent
of existing appropriations, the report of the Secretary of
NVar, which is het ewiLli communicated, will give a de-
tailed account. Their final completion cannot fail to
give great additional security. to that frontier, and rsa,
diminish proportionably the expense of defending it in
the event of war.
The provisions in the several Acts of Congress of the,
last Session, for the improvement of the navigation Of.
the Mississippi and the Ohio, of the harbour of Presq'
Ile on like Erie, aiid the repair of the Plymouth Beach,
ale in a course of regular execution ; and there is reason
to believe that the appropriation in each instance will
be adequate to the object. To carry these improvements
fully into effect, this superintendence of them has been
assigned to the Officers of the corps of Engineers.
Under the Act of the St)th of April last, authorizing,
the President to cause a survey to be made with the