Jenks' Portland gazette. [volume] (Portland, Me.) 1803-1805, 1804-10-01

Title, without regarding It's FloVInofs. III iiiis
wonderful law for the redemption OF the whole
national debt was the following iecion.; 'thl'
the co;nmilioners Of the iinsing sand be eo,'
powered with the APPRECIATION OF the Preiidenl
of the United States. IS any initalnienis, or
parts of the Dusch debt, become due, t. boz
row on the crcdit Of the United States, e.iEcr
in America OF abroad, either by reloaii. or
prolongation af that heretofore obtaided, or by
new loan, the funs requiGie for the payment
Vi thc faid indictments, OF parts of The principal,
! provided that the United States !han haSs a
right to rcimburfc, any loan, thus made, within
fix years after the date OF rlte fame, and that the
rate of interest therehpon ihall not exceed FIVE
per cent. per annun, nor the charges there
! upon five per cent. ON the capital, borrowed"
! 1t was moved IN Co1srefs TO irike out this fec
ton OF the act, becaute II authorizes perpe,-
u4l rcoan Of the inf alnents at the expiration OF
every Fix wears, and eonfequen;'y the debt migh,
never be pad. But it fured not the purpof-s
of the democrats TO undertake. An abioiutc pay
mcn,. 1t was therefore retained. It was ,shicn
moved to amend the title of the ad by flying it,
an act to difcharse the whole puolic debt OF The
United States by reloaning The fame. This was
denied By the party poheilms power, for thea
the cheat would have been evident at hrit v,rsF.
i The evils of this mealure, IN permitting a per-
pe,ual entalments of the debt on the nation,
| are not tie greatea which reiait from IL. The
terms Of the rcioan would caulc codtant adj
dition. A eommiIion of five per cent. was al.
! lowed for the trouble and charges OF relosninSc.
| ihe rate of mterest, permitted on, the reloan,
vas equal to that waich the government pay on
! the debt The conleQucnce then woald be the
fame, as If Eve per cent. on the whole debt were
added to it at each time of reloaning What
g,cat regard IS exprehtd to the intesed OF the
nation by a tranfa6tioa, which gives liberty con-
family TO increaie, in:tead or dimnihing the
public debt, .hofe can beit inform, who are en-
sblcd by its peeuniary benchts 70 CRAFTY old,
( or make new dependents. 800
The fame deGre TO miiead public opinion Is
! as con lpicuous in the report OF the committee
OF fnaeitigat as in the act We have difcuacd
10 deceive is diireputable IN individuals. For
government to ufe the influence OF their pub
lie character, for the fame purpote. is disgrace-
ful-When the motive in government for de-
ception is 70 deltroy private reputation as well
as to continue their own popularity their con-
duet is detela5le -When they seize on their
exalted itation, as fercening them from punilh-
ment for the del}rut{ion o: individual fame, it is
e.e. rable. Yet, does not the report of the
committee OF investigation compel US to make
thefe alterations acainit the preient adminiltra-
ton ? mis- report, which was excluhycly the
work Of Met.rs. Nicholion of Maryland, Giles
of Virginia, Williams of North Carolina, and
E;neoJorf Of New ork, was not fiewn TO the
minority of the committee, I'll it was ready to
BE- prefcnted to Congress. 80 aiterationswLich
they fuggefed, were fuGercd to 81 made. Nor
did il make lis appearances til! anoA me IAN
day Of the fefiior. wlren want OF ripc did not
permit an antyeg 70 is. Replete with taiie and
uufoundcd iniinuations aeairit viftuoa5 men 1t
was then puanhed, while the. documents to
wnch " referred, and which contraditted II, by
lhewing he innocence of shoie 1t illuminated,
were carefully .iippre.led. Does II not exceed
the h,n;t OF cTedi9ltigy, that en- elective aa'si'n
trayion, in moral country, ihonid expect TO re-
tain the government, by the aiiaiiiaaiior OF VIZ
tuous reputation $50
Two editions OF this report have been pnoIf'l'-
ed In the 6rh the document maFSet D, reia-'
ting to the delinquency Of Mr. Hanrorh, III ap-
plying to his own uic. TIRE SMALL SUM OF s.,
900 dollars. which the United States nave NOT
vet been able TO recover, IS iupPreiea. tne
committee ute the mott cautious aud gsarnea
Language IN mentioning this tranlaSton or . 'or-
mer Secretary CT State, becauic ne IS tis" Poi-
ti,ical friend speculation for his periohsl adj
vantage, which has hitherto fFauduiently depF'-
we'd the nation of the uic of large amount OF
property has nor been fubjett of their an'nad-
tveriion. In the fecond edition not Only the 90
cument B. but Mr.. Galiatin's letter OF March
f.cond which was the foundation OF This candid
repo,t, and letter from Mr.. Nicholion' 70 MY
GaIlatin, with paper annexed 60 ~ eo'n"i''-
ing "objetss of enquiry fubmtied by he char s
/" man, and agreed to by the committee" ioic
lowed by ten auctions for the confederation Of
ln,nrei,.d. The ila,ement c, wheh the COM
mittec fav exhibits the delinquency OF Mr. PC,
lkerinu. met with the lame fate. Strange that
,h.v Jel;red ,o charge Mr. Pickering as pub