On the contrary, this branch
of the fiscal affairs of the Government has been, and it is believed may
always be, thus carried on with every desirable facility and security.
A few changes and improvements in the details of the system, without
affecting any principles involved in it, will be submitted to you by the
Secretary of the Treasury, and will, I am sure, receive at your hands
that attention to which they may on examination be found to be entitled.
I have deemed this brief summary of our fiscal affairs necessary
to the due performance of a duty specially enjoined upon me by the
Constitution. It will serve also to illustrate more fully the principles
by which I have been guided in reference to two contested points in our
public policy which were earliest in their development and have been
more important in their consequences than any that have arisen under
our complicated and difficult, yet admirable, system of government.
I allude to a national debt and a national bank. It was in these that the
political contests by which the country has been agitated ever since the
adoption of the Constitution in a great measure originated, and there is
too much reason to apprehend that the conflicting interests and opposing
principles thus marshaled will continue as heretofore to produce similar
if not aggravated consequences.
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