As his second term entered its final year in 1796, Washington was exhausted from years of public service. Though he remained in fine mental condition, his physical health had begun to decline. He was also bothered by the constant attacks from the Democratic-Republican press, which had escalated after the signing of the Jay Treaty. Perhaps most importantly, Washington believed that he had accomplished his major goals as president. The nation had a stable economy, a strong grip over its Western territories, and peaceful relations with foreign powers. Against the wishes of most Federalists, who hoped that the president would seek re-election, Washington decided early in 1796 that he would retire unless compelled to run by a national emergency. He delayed a formal announcement until later in the year, but began drafting his Farewell Address.