The simple and plain duty which we owe the people is to reduce taxation
to the necessary expenses of an economical operation of the Government
and to restore to the business of the country the money which we hold in
the Treasury through the perversion of governmental powers. These things
can and should be done with safety to all our industries, without danger
to the opportunity for remunerative labor which our workingmen need, and
with benefit to them and all our people by cheapening their means of
subsistence and increasing the measure of their comforts.
The Constitution provides that the President "shall from time to time
give to the Congress information of the state of the Union." It has been
the custom of the Executive, in compliance with this provision, to
annually exhibit to the Congress, at the opening of its session, the
general condition of the country, and to detail with some particularity
the operations of the different Executive Departments. It would be
especially agreeable to follow this course at the present time and to
call attention to the valuable accomplishments of these Departments
during the last fiscal year; but I am so much impressed with the
paramount importance of the subject to which this communication has thus
far been devoted that I shall forego the addition of any other topic,
and only urge upon your immediate consideration the "state of the Union"
as shown in the present condition of our Treasury and our general fiscal
situation, upon which every element of our safety and prosperity
depends.
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