under my hand and the seal of the United States, in the city of
New York, the 26th day of August, A.D. 1790, and in the fifteenth year
of the Sovereignty and Independence of the United States.

[SEAL.]

GEORGE WASHINGTON.

By the President:
THOMAS JEFFERSON.

SECOND ANNUAL ADDRESS.

UNITED STATES, _December 8, 1790_.

_Fellow-Citizens of the Senate and House of Representatives_:

In meeting you again I feel much satisfaction in being able to repeat my
congratulations on the favorable prospects which continue to distinguish
our public affairs. The abundant fruits of another year have blessed
our country with plenty and with the means of a flourishing commerce.
The progress of public credit is witnessed by a considerable rise of
American stock abroad as well as at home, and the revenues allotted
for this and other national purposes have been productive beyond the
calculations by which they were regulated. This latter circumstance is
the more pleasing, as it is not only a proof of the fertility of our
resources, but as it assures us of a further increase of the national
respectability and credit, and, let me add, as it bears an honorable
testimony to the patriotism and integrity of the mercantile and marine
part of our citizens. The punctuality of the former in discharging their
engagements has been exemplary.

In conformity to the powers vested in me by acts of the last session,
a loan of 3,000,000 florins, toward which some provisional measures
had previously taken place, has been completed in Holland. As well
the celerity with which it has been filled as the nature of the terms
(considering the more than ordinary demand for borrowing created by the
situation of Europe) give a reasonable hope that the further execution
of those powers may proceed with advantage and success. The Secretary of
the Treasury has my directions to communicate such further particulars
as may be requisite for more precise information.

Since your last sessions I have received communications by which it
appears that the district of Kentucky, at present a part of Virginia,
has concurred in certain propositions contained in a law of that State,
in consequence of which the district is to become a distinct member of
the Union, in case the requisite sanction of Congress be added. For this
sanction application is now made. I shall cause the papers on this very
important transaction to be laid before you. The liberality and harmony