our power have been taken， without interfering with its other duties， for the suppression of the slave trade and of piracy in the neighboring seas.
the situation of the united states in regard to their resources， the extent of their revenue， and the facility with which it is raised affords a most gratifying spectacle. the payment of nearly $67，000，000 of the public debt， with the great progress made in measures of defense and in other improvements of various kinds since the late war， are conclusive proofs of this extraordinary prosperity， especially when it is recollected that these expenditures have been defrayed without a burthen on the people， the direct tax and excise having been repealed soon after the conclusion of the late war， and the revenue applied to these great objects having been raised in a manner not to be felt. our great resources therefore remain untouched for any purpose which may affect the vital interests of the nation. for all such purposes they are inexhaustible. they are more especially to be found in the virtue， patriotism， and intelligence of our fellow-citizens， and in the devotion with which they would yield up by any just measure of taxation all their property in support of the rights and honor of their country.
under the present depression of prices， affecting all the productions of the country and every branch of industry， proceeding from causes explained on a former occasion， the revenue has considerably diminished， the effec
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