The public Treasury, which should only exist as a conduit conveying the people's tribute to its legitimate objects of expenditure, becomes a hoarding place for money needlessly withdrawn from trade and the people's use.

The great revival of trade, internal and foreign, will supply during the coming year its own instructions.

For fully twenty years previous to 1877 the shipment of gold was constant and heavy.

The importation of manufactured goods was at the same time reduced in an equal degree.

Ordered, second. That vessels and domestic produce from Norfolk, permitted by the military commandant at Fort Monroe for the military purposes of his command, shall on his permit be allowed to pass from said port to their destination in any port not blockaded by the United States.

The currency of the District, should this act become a law will certainly and greatly deteriorate, to the serious injury of honest trade and honest labor.

To the Senate of the United States:I transmit to the Senate, for its consideration with a view to ratification, two conventions between the United States and China, one providing for the adjustment of claims of citizens of the United States on the Government of that Empire, the other for the regulation of trade, both signed at Shanghai on the 8th of November last.

I submit it to your mature consideration whether, in view of the important benefits arising from the treaty to the trade and commerce of the United States and to their agriculture, it would not comport with sound policy to adopt that course.

Relating to the production, growth, and trade in tobacco.

Far remote from the dominions of European powers, its growth and prosperity as an independent state may yet be in a high degree useful to all whose trade is extended to those regions;

The importations into the United States from China are known to be large, having amounted in some years, as will be seen by the annexed tables, to $9,000,000.

It was thought no more than reasonable to grant this facility to the trade of Texas, under such conditions as seem best calculated to guard against abuse or inconvenience.

My last communication to Congress relating to that Republic was my message of the 30th of March last, suggesting the expediency of legislative provisions for improving the trade and facilitating the intercourse by post between the United States and Texas.