The
modifications in some of the details of this measure, involving none of
its essential principles, heretofore recommended, are again presented
for your favorable consideration.
In my message of the 6th of July last, transmitting to Congress the
ratified treaty of peace with Mexico, I recommended the adoption of
measures for the speedy payment of the public debt. In reiterating that
recommendation I refer you to the considerations presented in that
message in its support. The public debt, including that authorized to be
negotiated in pursuance of existing laws, and including Treasury notes,
amounted at that time to $65,778,450.41.
Funded stock of the United States amounting to about half a million of
dollars has been purchased, as authorized by law, since that period, and
the public debt has thus been reduced, the details of which will be
presented in the annual report of the Secretary of the Treasury.
The estimates of expenditures for the next fiscal year, submitted by
the Secretary of the Treasury, it is believed will be ample for all
necessary purposes.
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