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Notwithstanding the great embarrassments which have recently
occurred in commercial affairs, and the liberal indulgence which in
consequence of these embarrassments has been extended to both the
merchants and the banks, it is gratifying to be able to anticipate that
the Treasury notes which have been issued during the present year will
be redeemed and that the resources of the Treasury, without any resort
to loans or increased taxes, will prove ample for defraying all charges
imposed on it during 1838.
The report of the Secretary of the Treasury will afford you a more
minute exposition of all matters connected with the administration of
the finances during the current year--a period which for the amount of
public moneys disbursed and deposited with the States, as well as the
financial difficulties encountered and overcome, has few parallels in
our history.
Your attention was at the last session invited to the necessity of
additional legislative provisions in respect to the collection,
safe-keeping, and transfer of the public money.


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