on our part to be successful must be made at the threshold.  To make our efforts effective, severe economy is necessary.  This is the surest provision for the national welfare, and it is at the same time the best preservative of the principles on which our institutions rest.  Simplicity and economy in the affairs of state have never failed to chasten and invigorate republican principles, while these have been as surely subverted by national prodigality, under whatever specious pretexts it may have been introduced or fostered.

These considerations can not be lost upon a people who have never been inattentive to the effect of their policy upon the institutions they have created for themselves, but at the present moment their force is augmented by the necessity which a decreasing revenue must impose.  The check lately given to importations of articles subject to duties, the derangements in the operations of internal trade, and especially the reduction gradually taking place in our tariff of duties, all tend materially to lessen our receipts; indeed, it is probable that the diminution resulting from the last cause alone will not fall short of $5,000,000 in the year 1842, as the final reduction of all duties to 20 per cent then takes effect.  The whole revenue then accruing from the customs and from the sales of public lands, if not more, will undoubtedly be wanted to defray the necessary expenses of the Government under the most prudent administration of its affairs.  These are circumstances that impose the necessity of rigid economy and require its prompt and constant exercise.  With the Legislature rest the power and duty of so adjusting the public expenditure as to promote this end.  By the provisions of the Constitution it is only in consequence of appropriations made by law that money can be drawn from the Treasury.  No instance has occurred since the establishment of the Government in which the Executive, though a component part of the legislative power, has interposed an objection to an appropriation bill on the sole ground of its extravagance.  His duty in this respect has been considered fulfilled by requesting such appropriations only as the public service may be reasonably expected to require.  In the present earnest direction of the public mind toward this subject both the Executive and the Legislature have evidence of the strict responsibility to which they will be held; and while I am conscious of my own anxious efforts to perform with fidelity this portion of my public functions, it is a satisfaction to me to be able to count on a cordial cooperation from you.