2077. DEBT (United States), Reduction of.—[further continued] .
The receipts have
amounted to near sixteen millions of dollars,
which, with the five millions and a half in the
treasury at the beginning of the year, have
enabled us * * * to pay more than four
millions of the principal of our funded debt.
These payments, with those of the preceding
five and a half years, have extinguished of
the funded debt twenty-five millions and a
half of dollars, being the whole which could
be paid or purchased within the limits of law,
and of our contracts, and have left us in the
treasury eight millions and a half of dollars.—
Seventh Annual Message. Washington ed. viii, 88.
Ford ed., ix, 164.
(Oct. 1807)
