debt, which has so long been a burden on the Treasury, will be finally discharged in the course of the ensuing year.  No more memory will afterwards be needed than what may be necessary to meet the ordinary expenses of the Government.  Now, then, is the proper moment to fix our system of expenditure on firm and durable principles, and I can not too strongly urge the necessity of a rigid economy and an inflexible determination not to enlarge the income beyond the real necessities of the Government and not to increase the wants of the Government by unnecessary and profuse expenditures.

If a contrary course should be pursued, it may happen that the revenue of 1834 will fall short of the demands upon it, and after reducing the tariff in order to lighten the burdens of the people, and providing for a still further reduction to take effect hereafter, it would be much to be deplored if at the end of another year we should find ourselves obliged to retrace our steps and impose additional taxes to meet unnecessary expenditures.

It is my duty on this occasion to call your attention to the destruction of the public building occupied by the Treasury Department, which happened since the last adjournment of Congress.  A thorough inquiry into the causes of this loss was directed and made at the time, the result of which will be duly communicated to you.  I take pleasure, however, in stating here that by the laudable exertions of the officers of the Department and many of the citizens of the District but few papers were lost, and none that will materially affect the public interest.

The public convenience requires that another building should be erected as soon as practicable, and in providing for it it will be advisable to enlarge in some manner the accommodations for the public officers of the several Departments, and to authorize the erection of suitable depositories for the safe-keeping of the public documents and records.

Since the last adjournment of Congress the Secretary of the Treasury has directed the money of the United States to be deposited in certain State banks designated by him, and he will immediately lay before you his reasons for this direction.  I concur with him entirely in the view he has taken on the subject, and some months before the removal I urged upon the Department the propriety of taking that step.  The near approach of the day on which the charger will expire, as well as the conduct of the bank, appeared to me to call for this measure upon the high considerations of public interest and public duty.  The extent of its misconduct, however, although known to be great, was not at that time fully developed by proof.  It was not until late in the month of August that I received from the Government directors an official report establishing beyond question that this great and powerful institution had been actively engaged in attempting to influence the elections of the public officers by means of its money, and that, in violation