out to the people of other countries an invitation to come and settle among us as members of our rapidly growing family, and for the blessings which we offer them we require of them to look upon our country as their country and to unite with us in the great task of preserving our institutions and thereby perpetuating our liberties.  No motive exists for foreign conquest; we desire but to reclaim our almost illimitable wildernesses and to introduce into their depths the lights of civilization.  While we shall at all times be prepared to vindicate the national honor, our most earnest desire will be to maintain an unbroken peace.

In presenting the foregoing views I can not withhold the expression of the opinion that there exists nothing in the extension of our Empire over our acknowledged possessions to excite the alarm of the patriot for the safety of our institutions.  The federative system, leaving to each State the care of its domestic concerns and devolving on the Federal Government those of general import, admits in safety of the greatest expansion; but at the same time I deem it proper to add that there will be found to exist at all times an imperious necessity for restraining all the functionaries of this Government within the range of their respective powers, thereby preserving a just balance between the powers granted to this Government and those reserved to the States and to the people.

From the report of the Secretary of the Treasury you will perceive that the fiscal means, present and accruing, are insufficient to supply the wants of the Government for the current year.  The balance in the Treasury on the 4th day of March last not covered by outstanding drafts, and exclusive of trust funds, is estimated at $860,000.  This includes the sum of $215,000 deposited in the Mint and its branches to procure metal for coining and in process of coinage, and which could not be withdrawn without inconvenience, thus leaving subject to draft in the various depositories the sum of $645,000.  By virtue of two several acts of Congress the Secretary of the Treasury was authorized to issue on and after the 4th day of March last Treasury notes to the amount of $5,413,000, making an aggregate available fund of $6,058,000 on hand.

But this fund was chargeable, with outstanding Treasury notes redeemable in the current year and interest thereon, to the estimated amount of $5,280,000.  There is also thrown upon the Treasury the payment of a large amount of demands accrued in whole or in part in former years, which will exhaust the available means of the Treasury and leave the accruing revenue, reduced as it is in amount, burthened with debt and charged with the current expenses of the Government.