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Updated: May 6, 2025
I lay before Congress copies of reports submitted in pursuance of a call made by me upon the heads of Departments for such suggestions as their experience might enable them to make as to what further legislative provisions may be advantageously adopted to secure the faithful application of public moneys to the objects for which they are appropriated, to prevent their misapplication or embezzlement by those intrusted with the expenditure of them, and generally to increase the security of the Government against losses in their disbursement.
It is "an act to provide for the better collection, safe-keeping, and disbursement of the public revenue by means of a corporation to be styled the Fiscal Corporation of the United States." In style, then, it is plainly national in its character. Its powers, functions, and duties are those which pertain to the collecting, keeping, and disbursing the public revenue.
"A man's life consisteth not in the abundance of the things which he possesseth;" it is better that his abundance should be diminished, by an occasional excess of disbursement, than that love, in which his life really lies, should wither in his breast for want of exercise.
The local advantages arising from the disbursement of public money too frequently, it is to be feared, invite appropriations for objects of this character that are neither necessary nor useful. The number of light house keepers is already very large, and the bill before me proposes to add to it 51 more of various descriptions.
In recommending the establishment of a constitutional treasury in which the public money shall be kept, I desire that adequate provision be made by law for its safety and that all Executive discretion or control over it shall be removed, except such as may be necessary in directing its disbursement in pursuance of appropriations made by law.
It will, I doubt not, attest the growing prosperity of the country, although during the decade which has just closed it was so severely tried by the great war waged to maintain its integrity and to secure and perpetuate our free institutions. During the last fiscal year the sum paid to pensioners, including the cost of disbursement, was $27,780,811.11, and 1,758 bounty-land warrants were issued.
WASHINGTON, September 9, 1841. To the House of Representatives of the United States: It is with extreme regret that I feel myself constrained by the duty faithfully to execute the office of President of the United States and to the best of my ability to "preserve, protect, and defend the Constitution of the United States" to return to the House in which it originated the bill "to provide for the better collection, safe-keeping, and disbursement of the public revenue by means of a corporation to be styled the Fiscal Corporation of the United States," with my written objections.
The furniture in its kind and extent is thought to be an object not less deserving attention than the building for which it is intended. Both being national objects, each seems to have an equal claim to legislative sanction. The disbursement of the public money, too, ought, it is presumed, to be in like manner provided for by law.
I only know that after some conversation, a good deal of mental reservation, and the disbursement of considerable coin, I found myself standing in the dust of the departing emigrant-wagon with one end of a forty-foot riata in my hand, and Chu Chu at the other. I pulled invitingly at my own end, and even advanced a step or two towards her.
After a few days farther conference with this ancient friend, be brought me an account of the six first years income of my plantation, signed by my partner, and the merchants' trustees, being always delivered in goods; viz. tobacco in roll, and sugar in chests, besides rum, molasses, &c. which is the consequence of a sugar-work; and I found by this account, that every year the income considerably increased: but, as above, the disbursement being large, the sum at first was small: however, the old man let me see, that he was debtor to me four hundred and seventy moidores of gold, besides sixty chests of sugar, and fifteen double rolls of tobacco, which were lost in his ship, he having been shipwrecked coming home to Lisbon, about eleven years after my leaving the place.
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