Since the decay of the feudal system, by which the public defence was provided for, chiefly at the expense of individuals, a system of loans has been introduced. And as no nation can raise, within the year, by taxes, sufficient sums for its defence, and military operations in time of war, the sums loaned and debts contracted have necessarily become the subjects of what have been called funding systems. The consequences arising from the continued accumulation of public debts in other countries, ought to admonish us to be careful to prevent their growth in our own. The national defence must be provided for as well as the support of Government; but both should be accomplished, as much as possible, by immediate taxes, and as little as possible by loans. The estimates for the services for the ensuing year will, by my direction, be laid before you.
Gentlemen of the Senate, and Gentlemen of the House of Representatives:
We are met together at a most interesting period; the situations of the principal powers of Europe are singular and portentous: connected with some by treaties and with all by commerce, no important event there can be indifferent to us; such circumstances call with peculiar importunity, not less for a disposition to unite in all those measures on which the honor, safety, and prosperity of our country depend, than for all the exertions of wisdom and firmness.
In all such measures you may rely on my zealous and hearty concurrence.
JOHN ADAMS.
United States, November 23, 1797.
Ordered, That Messrs. Stockton, Laurance, and Livermore, be a committee to report the draft of an Address to the President of the United States, in answer to his Speech, this day, to both Houses of Congress; and that the Speech be printed for the use of the Senate.
Friday, November 24.
A message from the House of Representatives informed the Senate, that the House have agreed to so much of the resolution of the Senate, of the 22d instant, relative to the appointment of Chaplains, as is contained in the words following, to wit:
"Resolved, That two Chaplains be appointed to Congress for the present session, one by each House, who shall interchange weekly."