We are beginning a new era in our Government. The national debt,
which has so long been a burden on the Treasury, will be finally
discharged in the course of the ensuing year. No more money will
afterwards be needed than what may be necessary to meet the ordinary
expenses of the Government. Now, then, is the proper moment to fix our
system of expenditure on firm and durable principles, and I can not
too strongly urge the necessity of a rigid economy and an inflexible
determination not to enlarge the income beyond the real necessities
of the Government and not to increase the wants of the Government by
unnecessary and profuse expenditures. If a contrary course should be
pursued, it may happen that the revenue of 1834 will fall short of the
demands upon it, and after reducing the tariff in order to lighten the
burdens of the people, and providing for a still further reduction to
take effect hereafter, it would be much to be deplored if at the end of
another year we should find ourselves obliged to retrace our steps and
impose additional taxes to meet unnecessary expenditures.
It is my duty on this occasion to call your attention to the
destruction of the public building occupied by the Treasury Department,
which happened since the last adjournment of Congress.
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