It
will be easy for Congress hereafter to proportion the expenditure on
account of this branch of the service to its real wants by abolishing
from time to time the offices which can be dispensed with.
The extinction of the public debt having taken place, there is no longer
any use for the offices of Commissioners of Loans and of the Sinking
Fund. I recommend, therefore, that they be abolished, and that proper
measures be taken for the transfer to the Treasury Department of any
funds, books, and papers connected with the operations of those offices,
and that the proper power be given to that Department for closing
finally any portion of their business which may remain to be settled.
It is also incumbent on Congress in guarding the pecuniary interests
of the country to discontinue by such a law as was passed in 1812 the
receipt of the bills of the Bank of the United States in payment of the
public revenue, and to provide for the designation of an agent whose
duty it shall be to take charge of the books and stock of the United
States in that institution, and to close all connection with it after
the 3d of March, 1836, when its charter expires.
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