laces at which
they sit and from thence to the seat of Government, are represented to
be such as to render it impossible for the judge of that circuit to
perform in a manner corresponding with the public exigencies his term
and circuit duties. A revision, therefore, of the present arrangement of
the circuit seems to be called for and is recommended to your notice.

I think it proper to call your attention to the power assumed by
Territorial legislatures to authorize the issue of bonds by corporate
companies on the guaranty of the Territory. Congress passed a law in
1836 providing that no act of a Territorial legislature incorporating
banks should have the force of law until approved by Congress, but acts
of a very exceptionable character previously passed by the legislature
of Florida were suffered to remain in force, by virtue of which bonds
may be issued to a very large amount by those institutions upon the
faith of the Territory. A resolution, intending to be a joint one,
passed the Senate at the same session, expressing the sense of Congress
that the laws in question ought not to be permitted to remain in force
unless amended in many material respects; but it failed in the House of
Representatives for want of time, and the desired amendments have not
been made. The interests involved are of great importance, and the
subject deserves your early and careful attention.

The continued agitation of the question relative to the best mode of
keeping and disbursing the public money still injuriously affects the
business of the country. The suspension of specie payments in 1837
rendered the use of deposit banks as prescribed by the act of 1836 a
source rather of embarrassment than aid, and of necessity placed the
custody of most of the public money afterwards collected in charge of
the public officers. The new securities for its safety which this
required were a principal cause of my convening an extra session of
Congress, but in consequence of a disagreement between the two Houses
neither then nor at any subsequent period has there been any legislation
on the subject. The effort made at the last session to obtain the
authority of Congress to punish the use of public money for private
purposes as a crime--a measure attended under other governments with
signal advantage--was also unsuccessful, from diversities of opinion in
that body, notwithstanding the anxiety doubtless felt by it to afford
every practicable security. The