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institutions of States, including that of persons held to service. To avoid misconstruction of what I have said, I depart from my purpose not to speak of particular amendments, so far as to say that, holding such a provision to now be implied constitutional law, I have no objection to its being made express and irrevocable.

The chief magistrate derives all his authority from the people, and they have conferred none upon him to fix the terms for the separation of the States. The people themselves, also, can do this if they choose, but the Executive, as such, has nothing to do with it. His duty is to administer the present government as it came to his hands, and to transmit it unimpaired by him to his successor. Why should there not be a patient confidence in the ultimate justice of the people? Is there any better or equal hope in the world? In our present differences is either party without faith of being in the right? If the Almighty Ruler of nations, with his eternal truth and justice, be on your side of the North, or on yours of the South, that truth and that justice will surely prevail by the judgment of this great tribunal, the American people. By the frame of the Government under which we live, this same people have wisely given their public servants but little power for mischief, and have with equal wisdom provided

for the return of that little to their own hands at very short intervals. While the people retain their virtue and vigilance, no administration, by any extreme wickedness or folly, can very seriously injure the Government in the short space of four years. My countrymen, one and all, think calmly and well upon this whole subject. Nothing valuable can be lost by taking time.

If there be an object to hurry any of you, in hot haste, to a step which you would never take deliberately, that object will be frustrated by taking time; but no good object can be frustrated by it.

Such of you as are now dissatisfied still have the old Constitution unimpaired, and on the sensitive point, the laws of your own framing under it; while the new administration will have no immediate power, if it would, to change either.

If it were admitted that you who are dissatisfied hold the right side in the dispute, there is still no single reason for precipitate action. Intelligence, patriotism, Christianity, and a firm reliance on Him who has never yet forsaken this favored land, are still competent to adjust, in the best way, all our present difficulties.

In your hands, my dissatisfied fellow-countrymen, and not in mine, is the momentous issue of civil war. The government will not assail you.

You can have no conflict without being yourselves the aggressors. You have no oath registered in Heaven to destroy the government; while I shall have the most solemn one to "preserve, protect, and defend it."

I am loath to close. We are not enemies, but friends. We must not be enemies. Though passion may have strained, it must not break our bonds of affection.

The mystic cords of memory, stretching from every battle-field and patriot grave to every living heart and hearthstone all over this broad land, will yet swell the chorus of the Union, when again touched, as surely they will be, by the better angels of our nature.


The receipts into the Treasury during the fiscal year ending June 30, 1859, were as follows:

From Customs.

From Public Lands..

From Miscellaneous Sources.

From Treasury Notes..
From Loans..

Aggregate resources for the year ending
June 30, 1859

Which amount was expended as follows: Civil, Foreign and Miscellan's..$23, 635,820 94 Interior (Indians and Pensions), 4,753,972 60 War Department. 23,243,822 38 14,712,610 21

Navy Department.
Public Debt.

17,405,285 44

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Total expenses for the year..

Balance in Treasury July 1, 1859

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$49,565,824 38 1,756,687 30 2,082,559 33.

The receipts into the Treasury during the fiscal year ending June 30, 1865, was $1,898,532,533 24, of which were received:

Expenditures for the year

War Department charged with..
Balance in Treasury July 1, 1865..
Total increase of Public Debt during the


9,667,400 00 18,620,000 00

$88,090,787 11

$83,751,511 57 4,339,275 54

$864,863,499 17 607,361,241 68 209,464,215 25

$1,897,674,224 09 1,031,323,360 79 858,309 15

941,902,537 04


MARCH 4, 1865.

FELLOW-COUNTRYMEN: At this second appearing to take the oath of the Presidential office, there is less occasion for an extended address than there was at the first. Then a statement, somewhat in detail, of a course to be pursued seemed very fitting and proper. Now, at the expiration of four years, during which public declarations have been constantly called forth on every point and phase of the great contest which still absorbs the attention and engrosses the energies of the nation, little that is new could be presented.

The progress of our arms, upon which all else chiefly depends, is as well known to the public as to myself, and it is, I trust reasonably satisfactory and encouraging to all. With high hope for the future, no prediction in regard to it is ventured.

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