pressure and its
evils, I shall be at all times ready, with the authority conferred on
me by the Constitution and with all the means which may be placed at
my command by Congress, to conclude a just and honorable peace.

Of equal importance with an energetic and vigorous prosecution of the
war are the means required to defray its expenses and to uphold and
maintain the public credit.

In my annual message of the 8th December last I submitted for the
consideration of Congress the propriety of imposing, as a war measure,
revenue duties on some of the articles now embraced in the free list.
The principal articles now exempt from duty from which any considerable
revenue could be derived are tea and coffee. A moderate revenue duty on
these articles it is estimated would produce annually an amount
exceeding $2,500,000. Though in a period of peace, when ample means
could be derived from duties on other articles for the support of the
Government, it may have been deemed proper not to resort to a duty on
these articles, yet when the country is engaged in a foreign war and all
our resources are demanded to meet the unavoidable increased expenditure
in maintaining our armies in the field no sound reason is perceived why
we should not avail ourselves of the revenues which may be derived from
this source. The objections which have heretofore existed to the
imposition of these duties were applicable to a state of peace, when
they were not needed. We are now, however, engaged in a foreign war. We
need money to prosecute it and to maintain the public honor and credit.
It can not be doubted that the patriotic people of the United States
would cheerfully and without complaint submit to the payment of this
additional duty or any other that may be necessary to maintain the honor
of the country, provide for the unavoidable expenses of the Government,
and to uphold the public credit. It is recommended that any duties which
may be imposed on these articles be limited in their duration to the
period of the war.

An additional annual revenue, it is estimated, of between half a million
and a million of dollars would be derived from the graduation and
reduction of the price of such of the public lands as have been long
offered in the market at the minimum price established by the existing
laws and have remained unsold. And in addition to other reasons
commending the measure to favorable consideration, it is recommended as
a financial measure.