Those institutions have already
shown themselves competent to purchase and furnish domestic exchange
for the convenience of trade at reasonable rates, and not a doubt is
entertained that in a short period all the wants of the country in bank
accommodations and exchange will be supplied as promptly and as cheaply
as they have heretofore been by the Bank of the United States. If the
several States shall be induced gradually to reform their banking
systems and prohibit the issue of all small notes, we shall in a few
years have a currency as sound and as little liable to fluctuations
as any other commercial country.
The report of the Secretary of War, together with the accompanying
documents from the several bureaus of that Department, will exhibit
the situation of the various objects committed to its administration.
No event has occurred since your last session rendering necessary any
movements of the Army, with the exception of the expedition of the
regiment of dragoons into the territory of the wandering and predatory
tribes inhabiting the western frontier and living adjacent to the
Mexican boundary.
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