their suffrages in this high trust should declare on commencing its
duties the principles on which he intends to conduct the
Administration. If the person thus elected has served the preceding
term, an opportunity is afforded him to review its principal
occurrences and to give such further explanation respecting them as in
his judgment may be useful to his constituents. The events of one year
have influence on those of another, and, in like manner, of a preceding
on the succeeding Administration. The movements of a great nation are
connected in all their parts. If errors have been committed they ought
to be corrected; if the policy is sound it ought to be supported. It is
by a thorough knowledge of the whole subject that our fellow-citizens
are enabled to judge correctly of the past and to give a proper
direction to the future.

Just before the commencement of the last term the United States had
concluded a war with a very powerful nation on conditions equal and
honorable to both parties. The events of that war are too recent and
too deeply impressed on the memory of all to require a development from
me. Our commerce had been in a great measure driven from the sea, our
Atlantic and inland frontiers were invaded in almost every part; the
waste of life along our coast and on some parts of our inland
frontiers, to the defense of which our gallant and patriotic citizens
were called, was immense, in addition to which not less than
$120,000,000 were added at its end to the public debt.

As soon as the war had terminated, the nation, admonished by its
events, resolved to place itself in a situation which should be better
calculated to prevent the recurrence of a like evil, and, in case it
should recur, to mitigate its calamities. With this view, after
reducing our land force to the basis of a peace establishment, which