Alexandria advertiser and commercial intelligencer. [volume] (Alexandria [Va.]) 1800-1803, 1802-01-13

it to be found petition, that theie Pre-
tiatory nations will never te brought TO
reipcct fuficiently the rights OF TINS coun-
try, whether derived from na, sre or from
compact, without hrit beng made to tee!
ats power, there is no OF clifton TO con-
acnn the eficacious employment CT force
Yet, conhdering the maxilns by which
thcie Ra,cs.are governed, and the oo:lina-
sy which they have ev,nccc upon other
occahons, it is likely that policy ct this
iors will be attended with coni,deraoie,
s. with no very temporary exPence. 1n.S
alone Is conceived TO be d conclltlvc rea-
0a asairu parting with any portion OF
oar pgcient income nothing could De 'eis
advIisabie, al a moment when there Is
rhe p-olpett, ii not the project, CT &C.
neral rupture with them.
Hitherto the propoial fer iacrinc'ns
the internal revenue, has been trled al
mott wholly by the tett of exPsjienay;
il i. time 10 put :, TO ieveIer 'eit to
that Of r.gbl. Gan the fre39/cd H0'!'t''"
,ai, .Et4 qvuboaf IN ianms Tie PUBLIC
MS is $ queaion of infinite moment
70 tic character OF our gove:nmen'---to
the rroi tcuity Oh our nation. 1t IT is &c
Be aniweIed III the negative, II mutt oe
matter OF profound regret, that ProPo-
fal which could give l!le to II, ihould have
come from the trh nasittla'e OF the 7.
States.
1t is hardly neceHary to premife, by
way OF explanation, thai TO fIedse 0, r.
sros,ipte funds Tor pubic debt, Is, IN
effett, TO ms,tgoge them to the public Gre
d,tors for tbeir Efeuny. Retracing odr
financial iyGem to its commencement, We
find the impoit and the excite on d:tt'iied
fpirits, repeatedly and poGt!vely pledged,
frA, for the payment and intereN OF the
debt, next, for the Reimbursement OF Ger
tain inRalments of the principal. 1t is
true, the appropriation is qualified by 'he
words, &" 70 much as may be necenary,,
but the tabhc faisb is engaged IN express
terms, thas b9sb Of the .fu~6s tha'l CONT
npe 70 be levied and collected, until the
whole debt ihall be discharged; with the
Jingle referve, that government ihali be
a, liberty to iagffate other funds OF tf"al
0m,uu,. 1t follows, that theie fs'e "enF'
NJ revenue conaitute joint fund tor the
Iecur,tv of the public creditor, co extern
Eve in duration with the exiitence OF any
portion of the debt /: and it is to be In
serred, that the government, contemplate
inc the poflbility OF deficiency In 'sf'
;rTended that the otkcr ihou!a ierve as an
o.,,Lae,y, and that the cooperation ct the
,,ys fbould efeaually guard the creditor
aqa,na the fluctuations and caiual'ics to
which eitSc, frgJy, might be expelled
Anticipating, however, thepoiilolilty that
that tbs one or the stksr, in whole or ii,
part. might in prattice be found inconVe.
nien,, right was referved to exekSng.
either for an adequate (asaitate. But ::
is conceived, that this does not imply tie
rioht 20 exchange tie one tor the otber.-
he effect would be eiientialiy different IL
the two cafes: in the firR there would al
ways be .zro tand', aggrega'eiy OF 'h'
Came or iimi,ar force and value, TO iecnr'
the creditor; in the laR there would c'
..l, ore ; from beios double tae iscuri'y
would become Jingle.
This mode of reafoning is the onl,
cne. mon which the rights and the int
refs of the creditor can lately ret: 1t !,
plain and Ineligible, and avoids the dan
Ger of erroneous REGULATIONS about the le
snyafe G.1Eoery of the reflective iunds
Admitting, however, for the lake OF tn,
argument, that this is too rigid con
ftIuetion of the contract, and that wh':
~, of the tzro funds Mould have acquire.
table increaie, which would render It
equal TO the purpofe Of the pledge, il
nigh. then be made TO aand in the plaes
Of both: yet furely, neither the purity
Of the public faith, nor the iatety OF the
creditor, will endure the application 0.
,ris principle to any other than an aics.
,,;,e3 reiIlr. Neither, certainly, vii