to us. 
SF XT ao -P AP BYR. 
fums for its defence and military 
 operation-in time of war, the fum 
loaned, and debts contracted, have 
neceffarily become the fubject of 
what have been called the funding 
fyftems. ‘ 
The confequences arifing from 
the continual accumulation of pub- 
lic debts in other countries, ought 
to admonifh -s to be careful to 
prevent their growth in our own. 
The national defence muft be pro- 
vided for, as well as the fupport 
of government; but both fhould 
be accomplifhed as much as poffi- 
ble by immediate taxes, and as little 
as poflible by loans. 
The Eftimates for the fervice of 
the enfuing’ year will, by my di- 
rection, be laid before you. 
Gentlemen of the Senate and 
Gentlemen of the Houfe of 
_ Reprefentatives, 
We are met together at a moft 
interefting period. The fituation 
of the principal powers of Europe 
are fingular and portentous. Con- 
- neéted with fome by treaties, and 
with all by commerce, no import- 
ant event there can be indifferent 
Such circumftances call, 
with a peculiar importunity, not 
_ lefs for a difpofition to unite in all 
thofe meafures on which the ho- 
nour, fafety, and profperity of our 
country depend, than for all the 
exertions of wifdom and firmnefs. 
In all fuch meafures you . may 
rely on my zealous and hearty con- 
currence. Joun Apams. 
To the Addyefs, which is nearly the Echo 
of the above Speech, the Prefident 
made the following Reply. 
Gentlemen of the Senate, 
I thank you for this addrefs. 
When, after the moft laborious in- 
293 
veftigation, and ferious reflection, 
without. partial confiderations or 
perfonal motives,-meafures have 
been adopted or recominended, I 
can receive no higher teftimony of. 
their reCtitude than the approba- 
tion of an Affémbly fo independ-. 
ent, patriotic, and enlightened, as 
the Senate of the United States. 
Nothing has afforded me more 
entire fatisfaction than the coinci- 
dence of your judgment with mine, 
in the opinion of the effential im-. 
portance of our commerce, and the 
abfolute neceflity of a maritime de- 
fence. What is it that has drawn 
to Europe the fuperfluous riches of 
the three other quarters of the. 
globe but a marine? What is it 
that has drained the wealth of Eu- 
rope itfelf into the coffers of two. 
or three of its principal commercial 
powers but a marine? The world 
has furnifhed no example of a flour- 
ifhing commerce without a mari- 
time proteétion; and a moderate 
knowledge of man and his hiftory 
will convince any one, that no fuch 
prodigy ever can arife. A mercan- 
tile marine and a military marine 
muft grow up together—one can- 
not long exift without the other. 
JounAbams. 
Meffage from the Direétory of the French 
Republic, on the 24th of July, to the 
Council of Five Hundred, 
Citizens Reprefentatives, 
HE lamentable ftate of the 
finances becomes worfe eve- 
ry moment; all the branches of the 
public fervice fuffer; they will all 
fail together in a few days, if a 
prompt remedy be notadminiftered. 
A’ view of their aétual fituation 
will demonftrate this fad truth. 
The accounts of credit, opened 
fince the 1ft Vendemiaire to this 
T3 day. 
