STATE: PAPERS. 
probably, be some addition to the 
public debt, upon the liquidation 
of various ‘claims which are de- 
pending; and a conciliatory dis- 
position on the part of Congress 
may lead honourably and ad- 
vantageously to an equitable ar- 
rangement of the militia expenses, 
incurred by the several States, 
without the previous sanction or 
authority of the government of the 
United States.—But, when it is 
considered that the new, as well as 
the old, portion of the debt has 
been contracted in the assertion of 
the national rights and indepen- 
dence ; and when it is recollected, 
that the public expenditures not 
being exclusively bestowed upon 
subjects of a transient nature, will 
long be visible in the number and 
equipments of the. American navy, 
in the military works for the de- 
fence of our harbours and our 
frontiers, and in the supplies of our 
arsenals and magazines; the amount 
will bear a gratifying comparison 
with the objects which have been 
attained, as well as with the re- 
sources of the country. 
The arrangement of the finances, 
with a view to the receipts and ex- 
penditures of a permanent peace 
establishment, will necessarily enter 
into the deliberations of Congress 
during the present session. It is 
true that the improved condition 
of the public revenue will not only 
afford the means of maintaining the 
faith of the Government with its 
creditors inviolate, and of prose- 
cuting successfully the measures of 
the most liberal policy; but will 
also justify an immediate allevia- 
tion of burthens imposed by the 
necessities of war. It is, however, 
essential to every modification of 
the finances,.that the benefits of 
425 
an uniform national currency should 
be restored to the community.’ 
The absence of the precious me- 
tals will, it is believed, be a tem- 
porary evil; but until they can be 
again rendered the general medium 
of exchange, it devolves on the 
wisdom of Congress to provide a 
substitute, which shall equally en- 
gage the confidence and accom- 
modate the wants of the citizens 
throughout the uniov. If the ope- 
ration of the state banks cannot 
produce this result, the probable 
operation of a national bank will 
merit consideration; and, if nei- 
ther of these expedients be deemed 
effectual, it may become necessary 
to ascertain the terms upon which 
the notes of the Government (no 
longer required as an instrument 
of credit) shall be issued, upon 
motives of general policy, as a 
common medium of circulation. 
Notwithstanding the security 
for future repose which the United 
States ought to find in their love 
of peace, and their constant re- 
spect for the rights of other na- 
tions, the character of the times 
particularly inculcates the lesson 
that, whether to prevent or repel 
danger, we ought not to be un- 
prepared for it. This considera- 
tion will sufficiently recommend 
to Congress a liberal provision for 
the immediate extension and gra- 
dual completion of the works of 
defence, both fixed and floating, 
on our maritime frontier, and an 
adequate provision for guarding 
our inland frontier against dangers 
to which certaia portions of it may 
continue to be exposed. ba 
As an improvement on our mili- 
tary establishment, it will deserve 
the consideration of Congress, 
whether a corps of invalids might 
not 
