lision with France in a case where she is clearly
in the wrong the march of liberal principles shall be impeded, the
responsibility for that result as well as every other will rest on her
own head.

Having submitted these considerations, it belongs to Congress to decide
whether after what has taken place it will still await the further
action of the French Chambers or now adopt such provisional measures
as it may deem necessary and best adapted to protect the rights and
maintain the honor of the country. Whatever that decision may be, it
will be faithfully enforced by the Executive as far as he is authorized
so to do.

According to the estimate of the Treasury Department, the revenue
accruing from all sources during the present year will amount to
$20,624,717, which, with the balance remaining in the Treasury
on the 1st of January last of $11,702,905, produces an aggregate of
$32,327,623. The total expenditure during the year for all objects,
including the public debt, is estimated at $25,591,390, which will leave
a balance in the Treasury on the 1st of January, 1835, of $6,736,232.
In this balance, however, will be included about $1,150,000 of what was
heretofore reported by the Department as not effective.

Of former appropriations it is estimated that there will remain
unexpended at the close of the year $8,002,925, and that of this sum
there will not be required more than $5,141,964 to accomplish the
objects of all the current appropriations. Thus it appears that after
satisfying all those appropriations and after discharging the last item
of our public debt, which will be done on the 1st of January next, there
will remain unexpended in the Treasury an effective balance of about
$440,000. That such should be the aspect of our finances is highly
flattering to the industry and enterprise of our population and
auspicious of the wealth and prosperity which await the future
cultivation of their growing resources. It is not deemed prudent,
however, to recommend any change for the present in our impost rates,
the effect of the gradual reduction now in progress in many of them not
being sufficiently tested to guide us in determining the precise amount
of revenue which they will produce.

Free from public debt, at peace with all the world, and with no
complicated interests to consult in our intercourse with foreign powers,
the present may be hailed as the epoch in our history the most favorable
for the settlement of tho