this customary and solemn occasion to express the gratitude which their
confidence inspires and to acknowledge the accountability which my
situation enjoins. While the magnitude of their interests convinces me
that no thanks can be adequate to the honor they have conferred, it
admonishes me that the best return I can make is the zealous dedication
of my humble abilities to their service and their good.

As the instrument of the Federal Constitution it will devolve on me for
a stated period to execute the laws of the United States, to superintend
their foreign and their confederate relations, to manage their revenue,
to command their forces, and, by communications to the Legislature, to
watch over and to promote their interests generally. And the principles
of action by which I shall endeavor to accomplish this circle of duties
it is now proper for me briefly to explain.

In administering the laws of Congress I shall keep steadily in view the
limitations as well as the extent of the Executive power, trusting
thereby to discharge the functions of my office without transcending its
authority. With foreign nations it will be my study to preserve peace
and to cultivate friendship on fair and honorable terms, and in the
adjustment of any differences that may exist or arise to exhibit the
forbearance becoming a powerful nation rather than the sensibility
belonging to a gallant people.

In such measures as I may be called on to pursue in regard to the rights
of the separate States I hope to be animated by a proper respect for
those sovereign members of our Union, taking care not to confound the
powers they have reserved to themselves with those they have granted to
the Confederacy.