The sums which had been previously accumulated in the Treasury, together
with the receipts during the year ending on the 30th of September last
(and amounting to more than $9,000,000), have enabled us to fulfill all
our engagements and to defray the current expenses of Government without
recurring to any loan. But the insecurity of our commerce and the
consequent diminution of the public revenue will probably produce a
deficiency in the receipts of the ensuing year, for which and for other
details I refer to the statements which will be transmitted from the
Treasury.

In the state which has been presented of our affairs with the great
parties to a disastrous and protracted war, carried on in a mode equally
injurious and unjust to the United States as a neutral nation, the
wisdom of the National legislature will be again summoned to the
important decision on the alternatives before them. That these will be
met in a spirit worthy the councils of a nation conscious both of its
rectitude and of its rights, and careful as well of its honor as of its
peace, I have an entire confidence; and that the result will be stamped
by a unanimity becoming the occasion, and be supported by every portion
of our citizens with a patriotism enlightened and invigorated by
experience, ought as little to be doubted.

In the midst of the wrongs and vexations experienced from external
causes there is much room for congratulation on the prosperity and
happiness flowing from our situation at home. The blessing of health
has never been more universal. The fruits of the seasons, though in
particular articles and districts short of their usual redundancy, are
more than sufficient for our wants and our comforts. The face of our
country everywhere presents the evidence of laudable enterprise, of
extensive capital, and of durable improvement. In a cultivation of the