Norfolk gazette and publick ledger — Norfolk [Va.], 1810-03-28 00:00:00, page 2

THjE PUBUCIC LEDGER.
WEDNESDAY EVENING, MARCH 28.1810.
..."""■—
On Wednesday lit, JV®Eppes, from (he com
mittee of way* and means^aid before the house the
following documents, which were ordered to be
printed:
January S, 1810.
SIR—-Haring stated in your sever*! reports that
loans fjjbld constitute the principal resource of tire
United Mutes for defraying extraordinary expenses,
the committee ol ways ami means have instructed
me to request, that you will report your opinion «s
to the more eligible mode of obtaining money l>y
loan—keeping in view both tire facility of borrow,
ingsums commensurate with the exigencies of the
United States and the ultimate extinguishment of
the debt contracted.
You have already given your opinion in favour of
an increase of duties on irupoitalion. To what ex
tent ran this be carried with safety >Cun any other
resources except taxes and loan* be relied on for
immediate revenue t
* 1 have the honour to be,
% With respect,
J§&. Your most obedient,
JOHN W. EPPES.
Albert Gallatin, Esq,
Secretary of the Treasury.
Treasury Department, Feb. 25, J8I0.
SIR—-I have Uie honour to submit the following
observation* in anawt-r to the sever.)] objects of en
quiry embraced by your letter of the 8th ultimo.—
The amount of extraordinary expenses which may
be authorised by congress being yet unascertained,
it is uottvcu at this time practicable to state with
precision the tom which may be wanted on loan
for the service of this year. Ahd in relation to en
suing years, it would be preniatute to lay down any
general rules respecting the most eligible mode of
borrowing sums of money, commensurate with the
exigencies of the United States* in case of war.—It
it therefore thought sufficient for the present to
point out some ot the most obvious means of effect*
ing loans generally ; leaving it a subject of subse
quent consideration to deride according to existing
circumstances on the most eligible mode, and on
the arrangement of dcteils.
The enquiries of the committee of ways and
means apply to the three following points: 1st.
What is the most eligible mod« of obtaining money
by loans, keeping iu view both the f.iciluy of borrow
ing sums cummensurate with the exegenrirs of the
United States, and the ultimate extinguishment 01
the debt contracted ? 2dly. To what extent can an
imrenseof duties on importation’be carried with
Safety? 3dly. Can any other resources besides tax
•s and loans be relied on for immediate revenue ?
fe I,o arts.
1st. The commissioners of the sinking fund will,
t of the anno.) appropriation of eight millions of
dollars for the payment of the debt, reimburse, in
■1810. the residue of the exchanged six percent.
Stock, amounting to 3750,000 dollars, and 1811,
the whole of the converted six per cent, stork, a
mounting to l,S6t),000 dollars. It is probable that
the owners of those two species of stork would
consent to re-loan the amount, provided it was irre
deemable for a few years,
2dly. It has already been staled in the Rnnual
report of November 5th, t,S07, referred to in that
ot this year “ that the several banks of the. United
States night find it convenient, as the diminished
enmmerre of the country might require less capi
tal, to loan to government a considerable portion ot
their capital stock, then computed at about lorty
millions of dollars.” Such temporary loans can be
obtained only to a limited amount ; but they are
convenient in two respect.-. : 1st. They do not di
mmish the facility of obtaining other loans from in
ehviduale, inasmuch as thry do not increase the a
inoniit of the stork ot market: 2dly. Being redeem
able at will, «n ( in any sums which may suit the
convenience of government, iuteresl is paid only as
long as the money is wanted ; and the extinguish
ment of the debt cmitrai led is rendered more easy
opd certain.
od. leans tnsy be aMuined from individuals to
an extent commensurate with the national capital,
etiH limited by the existing demand for that capi
tal tor private purposes. The terms must vary ac
cording to circumstances, always giving the prefe
rence to the most simple form that ran effect the
otjrrt. A portion of the public lands may per.
lisps, if necessary, either us a premium ui by giving
an option to subscribers, lie advantageously applied
in furiltutvng Usns or improving their terms.
4th. Treasury notes, hearing interest and payable
to order, one year after date, may he annually issued
to a moderate amount, and be put in circulation
both through the medium of banks, and in payment
of supplies. A portion would be ahsoibed during
fiMjmtr by tha payment ot puhlick lands and reve
Mbbunds, and the redemption ol tde residue be
ptovid-d l«r by the loan of theensuingyear. This
annual anticipation of the revenue, though liable to
•buse, may if kept within strict bounds, facilitate
bulb Ibv collection of tbe revenue and the loans
themselves.
In relation to (be extinguishment of the debt
contracted, those who borrow ran do nothing more
tbon to provide and pledge funds sufficient for that
nbject, and to give such a form to the debt us may
Bat impede Us redemption. To rendei it irredeem
able for no longer time than is necessary, in order
• to obtain the money ; to make it reimbursable by
inst ilments at fixed periods ; never to create, for
tbe sake of diminishing the annual interest, a great
or nominal amount of stork linn the sum actually
borrowed, and above all never to incur expenses
which me not actually necessary fur the defence or
Walfjtta of the country, are principles essential fur a
nation which does not contemplate « system of per
petual and increasing debt. Hut for its actual re
^obursemeut we must principally depend on the re
pSarn of prosperous circumstances, «n the growing
resources of the country, and on the wisdom of our
successors. The artificial provisions of a sinking
Anil may always he rendered inefficient by the ne
cessities or extravagance *f government. The real
CB»'»tM»tofa nation il debt cannot be diminished unless
the aggregate of revrour including tha funds assign
striking fund, andexcluemly
♦d to the i
f new Ion ns.
««W«ds the uggi%«#? *f evpfindkurce, other than
Chose for tha payment of the principal of the debt.
JTpratwufila rirctmstaacct, and csspigid tconooiy
in the rufrent expenses have cu shied the Unit'd
Slate* In rei nburts daring the last eight years, one
bull’of the debt created by the revolutionary war,
end during some of theentuing years. Similar cir
cumstances, end an adherence to (he tame princi
ples will be requisite to secure the actual reimi urse
ment of the del t which it may now be necessary to
contract. But that gnvernmeut will possess re
sources amply sufficient for that object, cannot be
doubted. The proceeds of the puLlirk lands would
alone slowly, perhaps, but certainly, extinguish a
much gtrater debt than the United States have it
now in their power to create. And it is sufficient
ly ascertained that the national wealth of the U
mted Slates , and therefore the means of raising
revenue increase in ratio still more rapid than their
population, a population which almost doubles eve
ry i wenty years.
Those considerations, connected with others,
stand at large in the annua) reports of November
1807 and December 1808, have pioduced a ronvic
lion that loans might without danger be resorted to
as the principal resource for supporting a war.—
Permit nie nt the same lime to observe, that the
suggestion has been confined to that object alone,
and that, excepting the case of war, eithei immedi
ate or contemplated, it appears consistent with
sound policy to raise during iha year the means of
defray ing all the national expenses, borrowing no
larger sum than the an num of principal ol old debt
paid during the. year. The propriety for providing,
even in time of war, a revenue equal to the annual
expenses on h peace e*tai lishment, the interest of
the existing debt, and that on the loans w hich may
he raised, has also been suggested in former re
ports.
increase of Unties.
On that ruhjecl little ran l e added to the opini
on* expressed on former occasions. I still think
'hat this source or revenue is in the United States,
ail I at this time the most productive, the easiest to
! collect, the least horthensome to the great mass of
the people; and that the duties on importation ge
nerally may, in case of war, be doubled without in
convenience nr danger.
In time of peace, and particularly under existing
circumstances, habits of smuggling might he pro
mo vd by too great an increase. Hat the precise
rate which may with safety he adopted can only be
ja matter of opinion to be tested by experience. I
would not hesitatS'however to mention an addition
al duty of five per cent, on merchandize paying ad
valorem duties, and an increase of 33 1-3 per cent,
on the existing duties on all other articles, as at
tended with very little danger, and preferable to anv
other new source of taxation. A renewal of the du
ly on salt, which produced six hundred thousand
dollars a year, may he exceptionable in other re
spects, but on account ol the hulk of the article, is
liable to no objection, in the present view of the
subject.
It was stated in the annual report of December
last, that an increase of duties would not, on ac
count of the terms of credit allowed for the payment
■if duties supercede the nei essity of a loan for the
service of this year. The amount of that loan
might of course be diminished, if no credit, or a cre
dit of only sixty days eras allowed for the payment
of the proposed additional duties.
Pubf/ch Lands.
These constitute ti.e only great national resource
exclusively of loans and taxes. They have already
been mentioned ms forming a fund for the ultimate
extinguishment of the publick debt; and the possi
bility ot tueir being used as a means of facilitating
loans, has been suggested. A portion might also
be usefully applied as a bounty to officers and sol
diers whenever it may become necessary to raise a
considerable force. Hut as an object of immediate
revenue, I much doubt whether this ran he material
ly increased without a radical change in the present
system.
Not less than ten land offices are now in full ope
ration, offering a great choice of good lands, situa
ted in various climates, and suited to the habits ot
the citizens of every portion of the union. They
are sold at the rate of two dollars an acre, or rather
at one dollar and sixty lour cents, if paid for at the
time of purchase, and in tracts of one hundred and
sixty acres. As much is sold as there is actual de
mand for land in similar situationa at that price.—
i lie sales are nowever almost exclusively conhiitu
to those who are or intend to heroine actual set
tlers, and all the money which can he raised liy that
description of purchasers is annually paid to ilm U
nited States. In order to eticrease immediately ihe
amount of sales,a different capital from that which
has heretofore been applied to that o> ject, the ca
pital of prisons who will purrhnse for the purpose
of selling again with a profit, .mast be brought into
action. But it is evident that no person will pur
chase lands at the pieseut price as an object of spe
culation, whilst the United States continue to sell
at the same price in small tracts. To effect the
proposed objsct, it would be necessary not only to
reduce the price, but to make a difference between
that of lands sold in large tracts, and that asked for
small tracts, sufficient to encourage purchases on
an extensive scale. That alteration might produce
all additional revenae but appears to ine extremely
injurious in other respects. The present system of
Sales has been tried, and answers the expectations
of the legislature. A gradual encreate must, not
withstanding some temporary fluctuations, neces
sarily take place. On that I would rely ; nor would
I venture to suggest any other change than that alrea
dy pioposed on a former occasion, a moderate and
general reduction of prices, discontinuing at the
same time all sales on credit, hut eontinuing to sell
at the same rate large nr small tracts of land.
I have the honour to be,
Very respectfully,
Sir, your obedient servant, '
ai.beht Gallatin.
Hon. John W. Erm, Chairman of tk*
Commute* of IVays and Mean*.
From tub Freeman’s Journal.
... ' j
ADDITIONAL DUTIE8. !
A letter to Albert Gallatin, Rtf. m the impolicy of
trapesing additional duties m imported merchan
dise.
Sta,
receiving that the policy of imposing additico
ol duties on imported merchandise is likely to en
gage tit* attention «f Congress, I beg leave through
you Ur Mdn.it to each of its members some consi
derations on this subject. It is one which deserves
mats arnout tUttniMM than ia ftactpnily gjvaa Mit,
and emlrarM tome of tbe rtost importsat inter«;(
of the community. My ronnnyrrul transaction
al home, us well as during a fesidence of several
years ia Europe, have afforded me majiy occasion'
|.of information on this topic, and I believe that
what 1 have to suggest may he of use to those whose
professions, or habits ol life, do not present the same
opiioi (unities.
The ostensible object of additional duty is for the
purpose of benefit ting oui selves,
1st. By increasing our revenue.
And,
2d. By affording encouragement to our domestic
manufar lures.
But these objects, although highly laudable in
themselves, cannot 1 apprehend, be obtained by in
disenminate high duties.
The history of every commercial nation, instructs
us, that all restraints, of which the evasion pre
sents an incitement to extraordinary gam, are ptr
mcious lo morals, and generally defeat the object
intended. It is to this motive alone that we impute
systematic evasions ol the law, which we find is e
ver the case where the prospect ol advantage coun
terbalances the hazard and expense of its violation.
Tbe inhabitants of a trading country are, above all
others, the most enlei prizing, und eager after
wealth ; and m such country the enactment of ex
horbitant duties, is sure to be met by systematic
evasion, inasmuch «s that evasion presents one ol
the greatest fo ld* for acquiring property. The cor
rectness of these remarks ;s forcibly pioven in Eng
land, «here the illegal business of a smuggler is
conducted with as much regularity and system, ns
is any other branch of trade in the kingdom. The
small islands whirh surround that enuntrv afford fa
nlitj and protection to this traffic, and are sup
ported almost entirely by it : and mercantile hous
es on the largest capital and commercial influence
are concerned in this premeditated evasion ol the
law. Tlm.«e tilings which mui may at first ahhnr,
custom miners them familiar with, until (es is now
the case in the country of which I spook) it js n„
longer esteemed dishonest to defraud tile govern
menr, but rather .1 mark of skill and adroitness, de
serving ot approbation. We have already had some
experience 01 this kind ut home. Whom of our
nieirhants ever thought of breaking through our
commercial regulations, until nn ill judged ronti- I
nuance of out embargo, beyond the natural interests ■
of tfie community, ('impelled them to their evasi- I
on? And whenever onr laws render the evasion of!
the duties so object deserving ent*rpr;?e, we shall i
assuredly experience the same consent- nces. Our
boundaries are too extensive to prevent it, and our
small craft from on" extremity of our seaboard In
the oilier, weuld be concerned in a trade presenting
so greet h source of profit ; and with these there
would }be concerned persons of wealth in all our
town, who would not srruple to receive the goods,
and participate in the advantages. Against such
trade the honest importer could not pietend to
stand, and he must of necessity eiiher connect him
self with those viidrtters of the law, or relinquish
altogether his business.
It therefore evidently appeals that the revenue,
instead of being benefilted, would, in a short peri
od, be wholly destroyed.
For the same reasons, and others which need not
be stated here, the expected lenefil to our domestic
manufactures would be found equally abortive.
The subject of domesiick manufactures is on*
which is much talked of but vrry little understood.
1 Min an advocate for them in a limited extent only ;
and were it possible at this moment to make us a
manufacturing nation, I should he sorry to see it
done. Our resources are great, and knowing this,
let our government foster and enrour.ige them ; hut
let it also be remembered that they may be cherish
ed and protected, but they cannot be forced. It
may safely be assumed as h eertain premises by le
gislators, that the individuals of a state are ever
more alive to their own interests (I speuk in a com
mercial sense) than the government can possibly he.
And if our people ran manufacture any particular
article to more profit than their time can otherwise
he employed, they will unquestionably do it.
So far as our females can he made to spin in their
hours of leisure, instead of sitting idle, andourm.n
be occupied with weaving, whrn they cannot be
more profitably engaged, it will be well, and I
shull rejoice to see it. Their early attempts will
be directed to such articles us require a crest body
nt the raw maleiials, and these they will complete
in a clumsy manner. As they find it advantageous,
so will they enrrease in perseverance and skill ; but
the finer fabrirks of goods ran be brought to per
fection only by previous experience and completed
in places where numerous bodies of manufactures
are rollerted together. And her*, let me ask, what
friend to humanity that has ever witnessed the state
of Manchester nr of Birmingham, rould wish to see
in this rounlry, such nuiseries of misery and im
morality ?
That c ountry is most likely to be well off, when
agriculture and commerce go hand in hand without
too great a dependence being plated on either, hut
especially on the latter. The situation of the people
of Ireland in some degree, illustrates the correctness
of this remark. There, although manufacturing is
carried to a great extent, and although from vari
ous causes the people are extremely poor, yet we
seldom hear of such distress being expeiienced as so
frequently recurs tu the populous manufacturing
towns ia England. The reason is, that in Ireland
every person who brings into the market a piece of
linen, has also a few acres of ground on which hi*
family chiefly rely for support. '1'he case is nearly
similar in Yorkshire, where every clothier can
maintain his family in times of commercial pressure
on bis few acres of land ; while those who are col
lected in larger towns, feel most severely the fluctu
ations of the times, and are more or less affected by
every political breath.
It fs therefore only on soch a plan as I have des
cribed, that I wish to see manufacture* flourish a
inongst us. And in those who contend, that hy
manufacturing, we would enjoy all the profit* to
ourselves, I would reply, that it is only by recipro
cal exchange, wealth ran be acquired, and that
what we do not gain at manufacturers, we assured
ly obtain as fanner*, planter* and merchants. To
say that sra ran ever be distressed by the hostility
of a*»y manufacturing roootrj, so far us depends op
shelf withholding from tie their manufactures, seems
altogether absurd to a-enuid which at the same time
Cakes a view of *«r internal resource*.—We might
certainly ba inconvenienced, but we never could be
distressed.
The present contest lUly etcrapliiu*
- -/..v Tl*' ■ . \ -.’-fi, «•- , ' : tr '• •»- • . ' -
the eorrectnew of this observation ; end (he xtrf
enemy with whom we might have In. contend,
would be the llrft to supply us with their u-tmofaco
tuiv«, a* they ut this moment do every (>. »t of tha
continent, wills whom they are engaged tit a. t...l
hostility.
I have, sir, in discussing this subjert, diverged
from the original enquiry, but the two Me so near
ly allied that it is difficult to separate them. I trust
that what I have said in the early part of this letter
will he sufficient to she* that it would be alike de
structive to our revenue and to our infant manufac
tures, to increase the duties on imported goods. X
trust, also, that what I have stated may be of use to
many, whose patriotick zeal may be slrooger than
their judgment, of whom our country, unfortunate
ly, can produce too many.
Being, however, myself engaged in a foreign trad*
of no small extent, 1 may, perhaps be under ibe im
putation of self-interest. But if the measure whirls
has been discussed affects me, it would only be m
the way of advantage, as my present stock of mer
chandize, which is very considerable, would, by
any additional duties that may be la'd, be rendered
the more valuable. Yet, viewing as I do, the cer
tain consequences of a measure of this nature, so •
destructive to morality, to the trade of all honest
men. and to the veiy intentions of government, I
cannot forbear fioin explicitly stating my opinion
of it.
Oor political relation* with other countries ar$
so closely allied lo this subject, that I cannot con
clude this letter without noticing them, so far a*
they affect our commercial concerns. With lha
best intentions, no doubt, for ourselves, it has hi
therto unfortunately happened that our measures
relative to trade have teen injurious to others in •
slight and momentary degree only, and to ourselves
they have been seriously and lastingly so. This has
bees the result of our whole system from the tint*
of the non-intercourse art to this moment j to tba
present contemplated Macon’s bill. 1 have no he
sitation in asset ting, that if this bill had been pass
ed in its original shape, our country would httva
suffered most materially. Tire British ministry would
readily have adopted the plea of retaliation to in
terdict our vessels fiom their ports. We should
then only be able to convey owr produce to what wa
affect to call neutral port?, and the remainder of the
carrying trade would ! e enjoyed by them. This sys
tem, therefore, while being ruinous to our farming
and commercial interests, would he equally so to
our dnmestirk manufactures, for we would shortly
find along nor cosst a Malta or a Heligoland, froii
whence we would he abundantly supplied witbum
nufartoted goods, and the exclusive advantage o£
this trade would bs experienced by British entsr
prize.
J have forhorne to dilute on the mischievous con
sequences to morals, and consequently to the best
safeguard of the governm-’nt, which have ever at
tended, and always must accompany extraordinary
or unnatural restrictions. But I would suggest 4o
you, sir. whether tinder the unhappy, opeD Had fla
grant violation with which onr commercial regulati
ons have of late been tre6ted.it would not he mora
politick to reduce the duties than to increase them |
that by taking away the temptation to vir6* we
might be restored to virtue and honour, when the
duties might again be raised with safety.
Neither motives of profit nor ambition have in
duced me to address you : I therefore claim neither.
But if what I have represented proven in any re
spect a le nefit to the community, or can aid tba
government in pursuing the true" interests of their
rountry, I shall esteem myself happy in having ob
11tided mysrll on your notice, and feel additionally
proud of the name of
A MERCHANT.
Philadelphia, lOfA March, 1810.
From the Charleston Courier.
FA B1CS—No. I.
To James Madison, President of the United Slates,
Sir,
1 lie splendid station to which you have been ele
vated, by the voice of the American people, involves
in its high offices, the conservation of the greatness
ot the rcpublick and the brilliancy of your own
fame. Clothed with the greatest powers that any
individual, under the constitution can aspire to.
><>ur country expects mid demands that those pow
era he exerted with the utmost of your ability and
zeol for the common benefit of every ritizen. ’Xor
is it indifferent to her whether or not the puce of
history shall consecrate your name. Your charge*
ter and the deeds of your administration must bt
enrolled in the annals of this empire. Evety thing
that shall be recorded of you will affect the repula*
lion of yoor country. Mankind will never cease to
connect, in their estimate of n people the governed
with the governors, the employers with the employ*
ed ; and they will always divide the glory or tba
infamy of each sera in the history of a state, and tha
honours or the contempt due to a wise policy, or
to a policy ol errours and imbecility' between thosa
who ruled a nation and the nation itself.
The honourable feelings that inspire your bosons
will not sorter y< ti to he indifferent to these truths,
and your pei feet acquaintance with the history af
man, recalls to your mind their practical examples.
Rome and Marcellua imparted and rrfle'eted the
glory of the republirk and the hero : Rome and Ti
berius have never been separated in the execrations
of the world. Athens and Perichs excite'a kindred
feeling in the soul for thepeo-.le and their chief. A
thens and her demagogues, the dupes and the victims
of Maredoman policy, inherit a common M:d equal
infamy.—The radiance of England and Chatham,
illumes alike the same page ol history, hut the sick
ly light of England, and liute, and North, enshrouds
io the same gloom, the honours of the enipira and
the reputation ol her ministers,
j It is thus, sii, that the glory, the nnjrsty, and
the fame of the American people are confided ta
your keeping. \ no cannot dishonour them without
disgracing yourself. —Yon conoot elevate your
own character without increasing their renown'.
The history of ynur life is decisive in if*
that you are possessed of talents high rb,tv- the
prdinsry cast, and the testimony ol err/io-s nd
frieuds will not suffer us to dooht of tlv y ,-i y of
your morals and the correctness of your ].- it.-.
Yoor political discipline »a perfect. For m.ret ha*
twenty years you have been artivelyVmici ri*ed in
the great ^flairs vf this nation. You have *i><*n the
tumults and agitutioos consequent upon •» r«v«lt
from old and arttlad nuthomy, end hare f '/r-essed
the opera tin a af effci y rente, that petit" sfya-hets