Jenks's Portland gazette., 1802-03-08
ExaMiAati0n. NO. ".


IT'S matter Of furpriGe to obferve propoG.
ton 20 dimnilh The revenue, afociated with IN
tlmations which appear to contemplate war.
The iuggelion h the MeTaqe refne6finq she
BA5-ry states, plainly enough imply that tfsA-
ties are found to be too feeble cords to bird
them; and that Ieiort to coercive means will
probably be requilite to enforce greater fenle
Of iultiee towards VS.. Accordingly, as a com.
ment Oh this hint, we have feea a refoluton
brought inEo the Houfe of Representatives., au.
tholizing the Preidenr to take meafilfes efFs9
uaily to protea our commerce again0 thoGe
Rates. Believing It 10 b. d found petition thar
thele predatory nations will never be brought 10
reiPea sufficiently the rights of this country,
wether derived from nature or froa compact
without hrf being made 10 feel Us power, there
is NJ dipofuon &C. condema the efficdcous en-
ployment Of force. Yet, confderiDg the max
inns BY which thole Rates are e. verned, and
the obtinancy which they have evinced upon
other ocoaions, it is likely that policy of this
fort viii be attended with comfortable, and with
% very temp This alone is conceiv
Cd 60 DC a conctuiive reafon againf parting with
any portion Of cur Prefent income nothing
could be lefi advifeable, at a moment when
there IS The proiPe6t is not the, project Of gen
er4i rupture with them.
Hitherto the propoial Of lacri6cing the inter
nal revenue, has been tried almoR wholly by
the tel OF expediency /; ;- it is time to put it TO
ieVerelf tsR 70 that OF Right. Gan fbe Pre-
F9isd abolition take s9e7 eoitb9nt imbayiHs tbe PUB
Lie FAIrH?
This is a queRion of infinite moment
to the character of our Government-to the
ed in the negative, it NUT be matter Of pro.
found regret, that Propofal which could give
rue to it, ihould have come from lhe fsR Mag
arate of the United States.
Il is hardly necef4ry to premife, by way of
explanation, that 70 pledge or appropriate funds
for public debt, is in eiF=6, to Mortgage them
70 the public creditors far their jscnrfy. Retrac-
ing our financial fyltem 10 its commencement,
we find the impoa AMI the excite on dRilled
(pirits, repeatedly and poitvely pledged, 6rf,
for tbs payment aud intereR of the debt, nexs,
for the reinburfement of certain indictments of
he principal. 1t is tue the appropriation is
qualified by the words, g 70 much as may be
neceflry," but the pubic faifb is engaged in ex-
prels terms, that both tbt faadr lhal continue to
be levied and collected until the whole debt
lhall be dIcharged with the Jingle referve,
that the government fhall Be at liberty to H9h-
tuts other funds Of egaai amount. 1t follows,
that the(c tzvo nsm5 of the revenue conaitute a
oi1t fund for the fecurity Of the public creditor,
CO exteniive in duration with the exiaence of
any portion Of the debt : and it is TO be in
ferred that the government, contemplating the
pofibility of deficiency in ane, intended thar
the other ihould ferve as an aaxiIiary and that
the corporation, of the tqg0 ihonld effefually
guard the creditor agalnit the fluctuations and
calu4lties to which eitber f42J might be expof-
ed. Anticipating, howeve', the pofi5iiity that
fbs one or tie 0tbsr, in whole or in part, might in
praace be found inconvenient, right was re-
ferved 20 exchange either FIR an adequate a5yffnts
But It is conceived, thai this does notimplY the
right to exchange the one tor the other The
efea would be efenJially different in the TWO
cafes in The hrlt there would always be fay7
faadJ, aggregately, Of the fame or iimlar force
and value, to fecure the creditor; in the lalt
there would be oaE one from being double, the
fecurity would become Jingle.
This mode Of realonng is TIE only one, upon
which the rights aud interas Of the creditors
can fafely iea L is plain and ineligible, and
avoids the danger of erroneous fpeculations a
bout the Operate Efficiency OF the reflective funds.
Admitting, however for tie fake oflhe argument,
that this is too rigid con0ru6tion Of the Goa
traa and that when ors of the t7vo fnnds h3uid
have acquired table increale. which woeld
render it equal to the pnriote of the Ple,ge. y