t of which has been to compel congress either to abandon these great measures of defense or to resort to loans or internal taxes to supply the deficiency. on the presumption that this depression and the deficiency in the revenue arising from it would be temporary， loans were authorized for the demands of the last and present year. anxious to relieve my fellow-citizens in 1817 from every burthen which could be dispensed with and the state of the treasury permitting it， i recommended the repeal of the internal taxes， knowing that such relief was then peculiarly necessary in consequence of the great exertions made in the late war. i made that recommendation under a pledge that should the public exigencies require a recurrence to them at any time while i remained in this trust， i would with equal promptitude perform the duty which would then be alike incumbent on me. by the experiment now making it will be seen by the next session of congress whether the revenue shall have been so augmented as to be adequate to all these necessary purposes. should the deficiency still continue， and especially should it be probable that it would be permanent， the course to be pursued appears to me to be obvious. i am satisfied that under certain circumstances loans may be resorted to with great advantage. i am equally well satisfied， as a general rule， that the demands of the current year， especially in time of peace， should be provided for by the revenue of that year.
i have never dread
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