Banks properly established and conducted are highly useful to the business of the country, and will doubtless continue to exist in the States so long as they conform to their laws and are found to be safe and beneficial.

It seems proper, at all events, that by an early enactment similar to that of other countries the application of public money by an officer of Government to private uses should be made a felony and visited with severe and ignominious punishment.

The second, sober thought of the people is seldom wrong, and always efficient.

To avoid the necessity of a permanent debt and its inevitable consequences, I have advocated and endeavored to carry into effect the policy of confining the appropriations for the public service to such objects only as are clearly with the constitutional authority of the Federal Government.

The connection which formerly existed between the Government and banks was in reality injurious to both, as well as to the general interests of the community at large.

My conviction of the necessity of further legislative provisions for the safe-keeping and disbursement of the public moneys and my opinion in regard to the measures best adapted to the accomplishment of those objects have been already submitted to you.

With respect to the northeastern boundary of the United States, no official correspondence between this Government and that of Great Britain has passed since that communicated to Congress toward the close of their last session.