course of study and experiment. In a government happily without the
other opportunities seminaries where the elementary principles of the
art of war can be taught without actual war, and without the expense of
extensive and standing armies, have the precious advantage of uniting an
essential preparation against external danger with a scrupulous regard
to internal safety. In no other way, probably, can a provision of equal
efficacy for the public defense be made at so little expense or more
consistently with the public liberty.

The receipts into the Treasury during the year ending on the 30th of
September last (and amounting to more than $8,500,000) have exceeded the
current expenses of the Government, including the interest on the public
debt. For the purpose of reimbursing at the end of the year $3,750,000
of the principal, a loan, as authorized by law, had been negotiated to
that amount, but has since been reduced to $2,750,000, the reduction
being permitted by the state of the Treasury, in which there will be a
balance remaining at the end of the year estimated at $2,000,000. For
the probable receipts of the next year and other details I refer to
statements which will be transmitted from the Treasury, and which will
enable you to judge what further provisions may be necessary for the
ensuing years.

Reserving for future occasions in the course of the session whatever
other communications may claim your attention, I close the present by
expressing my reliance, under the blessing of Divine Providence, on the
judgment and patriotism which will guide your measures at a period
particularly calling for united councils and inflexible exertions for
the welfare of our country, and by assuring you of the fidelity and
alacrity with which my cooperation will be afforded.