852 on the public debt, payable on the Ist of January next, will he de manded at the Treasury to complete the expenditures of the pre sent year, and for which the existing ways and means will suffi ciently provide. " The national debt, as it was ascertained on the lit of October last, amounted in the whole to the sum of one hundred and twenty millions of dollars, consisting of the unredeemed balance of the debt contracted before the late war (thirty-nine millions of dollars), the amount of the funded debt contracted in consequence of the war, (silty-fnur millions of dollars) and the amount of the unfunded and floating debt (including the various issues of Treasury Notes), seventeen millions of dollars, which is in a gradual course of pay ment. There will, probably, be some addition to the public debt, upon the liquidation of various claims which are depending; and • a conciliatory disposition on the part of Congress may lead honour.- ably and advantageously to an equitable arrangement of the mi litia expences, incurred by the several States, without the previous sanction or authority of the Government of the United Stet( s. But, when it is considered t hat the new, as well as the old, portion of the debt has been contracted in the assertion of the national rights and independence; and when it is recollected, that the pub lic expenditures, not being exclusively bestowed upon subjects of a transient nature, will long be visible in the number and equip ments of the American navy, in the military works fur the defence of our harboursand our frontiers, and in the supplies of our arse nals and magazines; the amount will bear a gratitving comparison with the objects which have been attained, as well as with the re- Sources or the country. " The arrangement of the finances, with a view to the receipts anti expenditures of a permanent peace establishment, will neces sarily enter into the deliberations of Congress during the present Session. It is true, that the improved condition of the public re venue will not only afford the means of maintaining the faith of the Government with its creditors inviolate, and of prosecuting successfully the measures of the most liberal policy ; but will also justify an immediate alleviation of burthens imposed by the neces sities of the war. It is, however, essential to every modification of the finances, that the benefits of an uniform national currency should be restored to the community. The absence of the precious metals, will, it is believed, be a temporary 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 engage the confidence, and accommodate the wants of the citizens throughout the Union. If the operation of the state banks cannot produce this result, the probable operation of a national bank will merit consideration ; and if neither 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 in strument 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 con stant respect for the rights of other nations, the character of the times particularly inculcates the lesson, that, whether to prevent or repel danger, we ought not to be unprepared far it. This con sideration will sufficiently recommend to Congress a liberal _pro vision for the immediate extension and gradual 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 certain portions of it may continue to be exposed. " As an improvement on our military establishment, it will de serve the consideration of Congress, whether a corps of invalids might not be so organized and employed, as at once to aid in the support of meritorious individuals, excluded by age or infirmities from the existing establishment, and to preserve to the public the benefit of their stationary services, and of their exemplary disci pline. I recommend also, an enlargement of the military academy already established, and the establishment of others in other sections of the Union. And I cannot press too much on the attention t,f Congress, such a classification and organization of the militia, as will most effectually render it the safeguard of a free state. If : , tperi , •:•:tee acts shewn in the late splendid achievements of the value of t•.is rtruurce for the public defence, it has shewn als(s the importatee of.that skill in the use of arms, and that familiarity with the essential rules of discipline, which cannot be expected from the regulations now in force. With this subject is ullin,-. , nnected the necessity of accommodating the laws, in , to the great object of enabling the political autho 'ion to employ, promptly and effectually, the physi ,. Union, in the cases designated by the Constitution. ~ .rviees which have been rendered by our navy, .s it has developed for the successful co-operation I , JAN. 'T.- _ . . in the national defence, win give to tha t portion of the public force its full valus.in the eyes of Congress, at an epoch which calls for the constant vigilance of all Governments. To preserve the ships now in a sound state ; to complete those already contemplated ; to provide amply the imperishable materials for prompt augmenta tions, and to improve the existing arrangements into more advan tageous establishments, for the construction, repairs, and the se• curitv of vessels of war, is dictated by the soundest policy. " In adjusting the duties on imports to the object of revenue, the influence of the tariff on manufactures, will necessarily present itself fur consideration. However wise the theory may be, which leaves to the sagacity and interest of individuals the application of their industry and resources, there are in this, as in other cases, exceptions to the general rule. Besides the condition which the theory itself implies, of a reciprocal adoption by other nations, experience teaches that so many circumstances must occur in in troducing and maturing manufacturing establishments, especially of the more complicated kinds, that a country may remain long without them, although sufficiently advanced, and in some respects even peculiarly fitted fur carrying them on with success. Under circumstances giving a powerful impulse to manufacturing indus try, it has made among us a progress, and exhibited an efficiency, which justify the belief, that with a protection not more than is due to the enterprising citizens whose interests are now at stake, it will become at an early day not only safe against occasional com petitions from abroad, but a source of domestic wealth, and even of external commerce. In selecting the branches more especially entitled to the public patronage, a preference is obviously claimed by such as will relieve the United States from a dependence on foreign supplies, ever subject to casual failures, for articles neces sary for the public defence, or connected with the primary wants of individuals. It will be an additional recommendation of particular manufactures, where the materials for them are extensively drawn frem our agriculture, and consequently impart and insure to that ereat fund of national prosperity and inde p endence, an encourage s. ment which cannot fail to be rewarded. " Among the means of advancing the publie interest, the occa sion is a proper one for recalling the attention of Congress to the great importance of establishing throughout our country the roads and canals which can best be executed under the national authority. No objects within the circle of political economy so richly repay the expellee bestowed on them; there are none, the utility of which is more universally ascertained and acknowledged • none that do more honour to the Government, whose wise and enlarged patrotism duly appreciates them. Nor is there any country which presents a field, where nature invites more the art of man, to com plete ker own work for his accommodation and benefit. These considerations are strengthened, moreover, by the political effect of these facilities for intercommunication, in bring ing and binding more closely together the various p arts of our exte nded confederacy. Whilst the States individually, with a laudable enterprise and emu lation, avail themselves of their local advantages, by new roads, by navigable canals and by improving the streams susceptible of navi gation, the general government is the more urged to similar under takings, requiring a national jurisdiction and national means by the prospect of thus systematically completing so inestimable a work. And it is a happy reflection, that any defect of constitutional autho rity which may be encountered, can be supplied in a mode which the constitution itself has providently pointed out. " The present is a favourable season also for bringing again into view the establishnu nt of a national seminary of learning within the district of Columbia, and with means drawn from the property therein subject to the authority of the general Government. Such an institution claims the patronage of Congress, as a monument of their solicitude for the ads ancement of knowledge, without which the blessings of liberty cannot be fully enjoyed, or long preserved ; as a model instructive in the formation of other seminaries ; as a nursery of enlightened preceptors ; as a central resort of youth and genius from every part of their country, diffusing on their return c samples of those national feelines,those liberal sentiments,and these congen i a l manners, which co ntribute cement to our union, and strength to the great political fabric of which that is the formation. " In closing this co mmunication, I ought not to repress a sensi bility in which you will unite , to the happy lot of onr country, and to the goodness of a superintending providence to which we are indebted for it.—Whilst other portions of mankind are labouring under the distresses of war, or struggling with adversity in other forms, the United States are in the tranquil enjoyment of pros perous and honourable peace. In reviewing the scenes through which it has been attained, we can rejoice in,the proofs given, that our political institutions , founded in human ri g hts, and framed for their preservation, are equal to the severest trials of war, as wen THE NATIONAL REGISTER.