8239. SURPLUS, Accumulation of.—
[We] have left us in the treasury eight
millions and a half of dollars. A portion of
this sum may be considered as a commencement
of accumulation of the surpluses of revenue,
which, after paying the instalments of
debts as they shall become payable, will remain
without any specific object. It May
partly, indeed, be applied toward completing
the defence of the exposed points of our
country, on such a scale as shall be adapted
to our principles and circumstances. This
object is doubtless among the first entitled
to attention, in such a state of our finances,
and it is one which, whether we have peace
or war, will provide security where it is due.
Whether what shall remain of this, with the
future surpluses, may be usefully applied to
purposes already authorized, or more usefully
to others requiring new authorities, or how
otherwise they shall be disposed of, are questions
calling for the notice of Congress, unless
indeed they shall be superseded by a change
in our public relations now awaiting the determinations
of others.—
Seventh Annual Message. Washington ed. viii, 88.
Ford ed., ix, 165.
(Oct. 1807)
