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In the present state of the Treasury the whole of the Louisiana debt
maybe redeemed in the year 1819, after which, if the public debt
continues as it now is, above par, there will be annually about five
millions of the sinking fund unexpended until the year 1825, when the
loan of 1812 and the stock created by funding Treasury notes will be
redeemable.
It is also estimated that the Mississippi stock will be discharged
during the year 1819 from the proceeds of the public lands assigned to
that object, after which the receipts from those lands will annually
add to the public revenue the sum of one million and a half, making the
permanent annual revenue amount to $26,000,000, and leaving an annual
excess of revenue after the year 1819 beyond the permanent authorized
expenditure of more than $4,000,000.
By the last returns to the Department of War the militia force of the
several States may be estimated at 800,000 men--infantry, artillery, and
cavalry. Great part of this force is armed, and measures are taken to
arm the whole.


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