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dollars; from the bank tax seventeen thousand and seven hundred dollars; from licenses probably six thousand dollars, to which add for the present year eight thousand dollars to be received from the Treasury of Massachusetts amounting in the whole to sixty thousand four hundred and eighty dollars. What is to be the amount of the expenditure of the State by the people confided to you. It is very desirable that the receipts into the Treasury should exceed by a considerable amount the estimated expenditure in order that you may be enabled to endow our literary institutions, encourage agriculture and lay the foundation for such public roads, canals and other improvements as the general interest of the State may require.

The existing embarrassments in our circulating medium cannot it is believed affect our revenues. The alarm in relation to the country banks, which originated in the capital of Massachusetts, and unfortunately extended itself into this State is fast subsiding; not however without having reduced three of our better banks to the necessity of suspending specie payments.