An anxiety has been also demonstrated by the Executive for peace with the Creeks and the Cherokees.  The former have been relieved with corn and with clothing, and offensive measures against them prohibited during the recess of Congress.  To satisfy the complaints of the latter, prosecutions have been instituted for the violences committed upon them.  But the papers which will be delivered to you disclose the critical footing on which we stand in regard to both those tribes, and it is with Congress to pronounce what shall be done.

After they shall have provided for the present emergency, it will merit their most serious labors to render tranquillity with the savages permanent by creating ties of interest.  Next to a rigorous execution of justice on the violators of peace, the establishment of commerce with the Indian nations in behalf of the United States is most likely to conciliate their attachment.  But it ought to be conducted without fraud, without extortion, with constant and plentiful supplies, with a ready market for the commodities of the Indians and a stated price for what they give in payment and receive in exchange.  Individuals will not pursue such a traffic unless they be allured by the hope of profit; but it will be enough for the United States to be reimbursed only.  Should this recommendation accord with the opinion of Congress, they will recollect that it can not be accomplished by any means yet in the hands of the Executive.

Gentlemen of the House of Representatives: 

The commissioners charged with the settlement of accounts between the United States and individual States concluded their important functions within the time limited by law, and the balances struck in their report, which will be laid before Congress, have been placed on the books of the Treasury.

On the 1st day of June last an installment of 1,000,000 florins became payable on the loans of the United States in Holland.  This was adjusted by a prolongation of the period of reimbursement in nature of a new loan at an interest of 5 per cent for the term of ten years, and the expenses of this operation were a commission of 3 per cent.

The first installment of the loan of $2,000,000 from the Bank of the United States has been paid, as was directed by law.  For the second it is necessary that provision should be made.

No pecuniary consideration is more urgent than the regular redemption and discharge of the public debt.  On none can delay be more injurious or an economy of time more valuable.

The productiveness of the public revenues hitherto has continued to equal the anticipations which were formed of it, but it is not expected to prove commensurate with all the objects which have been suggested.  Some auxiliary provisions will therefore, it is presumed, be requisite, and it is hoped that these may be made consistently with a due regard to the convenience of our citizens, who can not but be sensible of the true wisdom of encountering a small present addition to their contributions to obviate a future accumulation of burthens.