Fellow Citizens of the Senate, and House of Representatives.

IN meeting you again I feel much satisfaction in being able to repeat my congratulations on the favorable prospects which continue to distinguish our public affairs. The abundant fruits of a-nother year have leased our country with plenty, and with the means of a flourishing commerce.—The progress of American flock abroad as well as at home—and the revenues allotted for this and other national purposes, have been productive beyond the calculations by which they were regulated—this latter circumstance is the more pleasing, as it is not only a proof of the fertility of our resources, but as it assures us of a further increase of the national respectability and credit; and let me add, as it bears an honorable testimony to the patriotism and integrity of the mercantile and marine part of our citizens—the punctuality of the former in discharging their engagements has been exemplary.

In conforming to the powers vested in me by the acts of the last session, a loan of three millions of florins, towards which some provisional measures had previously taken place, has been completed in Holland, as well as the celerity with which it has been filled, as the nature of the terms (considering the more than ordinary demand for