2075. DEBT (United States), Reduction of.—[further continued] .
The receipts * * * during
the year * * * have exceeded the
sum of thirteen millions of dollars, which,
with not quite five millions in the treasury
at the beginning of the year, have enabled
us, after meeting other demands, to pay nearly
two millions of the debt contracted under the
British treaty and convention, upwards of
four millions of principal of the public debt,
and four millions of interest. These payments,
with those which had been made in
three years and a half preceding, have extinguished
of the funded debt nearly eighteen
millions of principal.—
Fifth Annual Message. Washington ed. viii, 52.
Ford ed., viii, 395.
(Dec. 1805)
