Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1810-01-09
For rHEAReUs.-
THE RESOURCES OF THE NATION.
t No 9.

NO. Is b
When the federalists assert that the
treasury IS empty, they proclaim what
cannot be dunied.: but they have not can:
dor enosgh to goa little farther, and tell
the whole rnth. IF the tres sury be empty
At has been occasioned by the payment of
many millions ofthe public debt. circum-
stance which has raised the credit of this
nation TO so high pitch, that any sum can
be obtained on loan at moments warn.
ing.
Let the case be stated with fairness -
When the federalists went out of power
they left little better than one million of
dollars III the treasury T; and they left the
nation IN debt to the amount OF nearly an
hundred millions. The republican Con.
9ress, after paying of ncarlythe half of that
enormous sum, have even at this moment
iaore money IN hand than the federahsts
had when tnsy went OUT OF power. This
Is an undcn'abie fact, which the official
documSnts or the government will prove,
and for the truth OF which I boldly appeal
to the Honorable John Marshall, chief JUS
tice o. the United States, as man of in.
formation among the federalists, and whose
word viii he taken by that party as ample
evidence. La three things, then, the re-.
exceeded the federalists, and salts
he'd the nation, to wit
l.. In not ausmentisg the public debt.
2. In reducing that debs from near one
hundred millions of dollars to half the a.
mount.
J. In leaving in the treasury, after pay
ing the ,noiety of the debt or thereabours,
more money than the federaiists left i'm il
after they had run the nation IN deOt.
And what adds to the excelleney OF the
republican conduct!in this respect is this, the
JeGeraiists got il de5t zvlILe thcv Jared
me heoitte: me rctn6hcans haid rhe de6.
and dtd nor TAG me. teohie.
Thus, therefore, IL the treasury be emp
ty, it has been honestly and honor ably emp
tied, which is more than the federalists
dare attempt to prove that they did.
But suppose the republican Congress lad
acted evenin part as the federalists acted
suppose they had continued to tax he
people. and had not paid the public debt,
las the federaiists did not ) but had hear-
ded up the money: what would have been
the result? Way the republicans would
have had at this moment SE.cty millions of
dollars at iease in the treasury, in Cash.
Dare Judge Marshall, or any other re-.
spectacle federalist pledge his word and
honor that this is not the fact! l am bold
to say, ne dare not.
This Being the case, and the people see
ing that the republican Congress has fairly
and agreeably TO the popular wish appro.
priated the revenue OF the union, Will the
people abaE3on the government VIII
they belle and stigmatize their own doc.
trines? VIII they in short abandon men
who have paid their debts, and freed them
from debt, 10 rush into the arms of persons
who have always taxed them and always
run them in debt? They never caa, they
never will do it.
The system of paying the debt was di..
vised by Mr.. Jefferson; thar great and
good man, to whom this country owes so
much. But, as if to sink the system into
contempt; as If to show that the honest
payment of a nations debts in time of
peace and prosperity was the way to re-
duce her TO b-ggary and wretchedness,
Mr.. Gallatin does not support it with a
collateral system; but presents the Con-.
gress with an account current, which re-
presents the republic as starveling. and
Mr.. Jeiferson's and the republican, Con.
gress's plan OF administration and iiquda.
ton of debts as pusriie and ridicuIoSs.
This conduct IL the Secretary of. the
Treasaary. although it may appear incon-
sisten; with the tenor OF nv. Galiauu's
ifu6fc conduct, Is, ~ svertheless, perfect
ly consonant 70 the whole tenor % his.H Ti-
pa'e politics. il has seen hong known a.
mong men of accurate INFORM atIon, tllSl
Albert Gala ~ was, when he first bee me
Secretary Of the Treasury. not cheerfuUy
disposed to abolish the internal revenue,
for the simple reason, perhaps, because ne
saw in that odicus financial project the
means OF extensive patronage ana power
fol ihfuencs in the n.tiOn. Nh. Jefferson
and the rest Of the caDinet i1sIs cd Oh the
repeal and no maa knows, b5tter tnan
Albert Galletiu, now 90 acquiesce where
ne Cannot jntrol. Thrre Is, Of course,
perfect consistency IN gying lhe p Icy q
which he was opposed under MIR. Jeii..r-
sou side btyw under Mr Md san JHe
fruh must come ouh RepuDi csuism hds
nothing TO fear from open, fair, and manly
exposition: bu; !: mas every thing TO ap4
prehcnd from sly, dark, mysterious, and
intriguing conduct. IL IS in the power Of
a. secretary Of rae Treasury TO ruin any
party, any administration, any President.
But let il be remembered ass. Ntl4t par
~, president, or an administration, can
preserve itself by vigilance and vigor.
There Eiust be purgati"ns "a politics as
we'll as in physics aud resolOte surgeons
have told us mat the knfe - ~ sOne ca
ses necessary to preserve existeEce. Where
Implicitly and ccrr0pton OF principle APP
pear, let 10 statesman fOrbear 20 use the
,lade with decisi0n