Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1813-04-05
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Mr.. PlckERING's LETTERS
LITTER :.
70 the Psehle Of the Uaasd State.


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been exhibited, showing the little regard
.af our rulers for the preservation OF our
commeree-I should rather say, the
measures they have taken Tor ITS dsstruc-
rion--although virtually pledged as the
Qfeat and essential source OF revenue
for the payment of the public debt !; not
mi,bstahding their repeal OF CERTAIN II
lernal .iuties alike pledged and not
wishstanding their violation OF the PaD-e
lie. faith in authorizing the payment OF
the small remnant of duties on goods
imported, in fredsury notes, recelvaoie
at the custom houses instead of money
which notes they nave authorized to DC
issued to All amount fer be, ond the pre-
bable receipts of duties while the war
continues /; and which, anticipating and
absorbing all the duties, will leave no
thing. for the regular payment 81 inte-
rest and the annual discharge OF part OF
the principal Of the public debt-tor
which those duties have been so often
and SO solemnly pledged; and notwlth
standing their avoiding during i've ses-
sions Of congress. to lay the heayy--hea-
~ taxes which their warrendered indis-
pensable, even 20 pay the inreresfei the
enormous loans which they have autho
rizad, and which the secretary OF the
.treasury is endeayoring to effect taxes
which they feared would render both
them and their war universally unpopu-
lar; notwithstanding all these thinss,
perhaps ewilItbs said, that their pune
tual payment, hitherto, of the interest
of the public debt, and some millions OF
the principals much as the public
creditors were obliged to receave--ls an
evidence Of the future punctuality With
which they will cause the pubic debt 10
be discharged. To this II may aaswer-
ed, that their szun interest to faciiltats
the procuring OF loans in time OF need,
prompted them to make such regular
payments zuhHe they Possessed fAe most
amtke MEANS On the same principle,
unthrifty, failing merchants continue to
make some payments, until state OF
bankruptcy puts an end to their opera
tions.
While government has abundant
means land such had ours, during the
whole oil Mr.. Jefferson's eight years
presidency where is the merit (though
much has been claimed) in a regular
payment of its debts But those means
were provided under the Jederal admi-
nistration: the system was then formed
which produced an abundant revenue;
increasing annually with the growing
prosperity of commerce which gave
life and vigor TO all other occupations OF
the people. What could our rulers do
with the increasing miliiyns pouring in.
to the treasury from that prosperous
commerce, but pay OF the debts OF the
nation I! AT their outset, especially, when
1t was expedicnt to lay up sonne stock ct
reputation Tor consistency, in fulfilling
their public pfomises--it would have
been too bold proceeding to diver, the
abundance Of public treasure from its
appropriate uses to new and visionary
proiects,. And the most Ingenious, tho
most proHisate, the most extravagant
frauds and dissipations, could not have
embezzled and wasted SO many millions
They had in fact 10 choice, they were
uader not only moral, but, in some
sort, physical necessity to continue their
payments OF the public debt ; to rid
themselves Of an immense treasure that
was overwhelming them. In ali This,
there was absolutely no merit. As well
might merchants clerk lay claim 10
special merit for paying the debts ofhis
employer who furnished hia with mo-
ney for the purpose, and paid him for
his services.
But Mr.. Jefferson and his associates
were resolved To turn TO the best ac-
couuf, for the purposes of the party. the
sinhie Performance of an ordinary duty
Accordingly, in the first session Of Con-
gress after Mr.. JeffsrsoRs election--in
a time Of profound peaee--w hen oil sx-
traordinary public expenses had ceased
land the treasury had no other sails
for money than to defrsy the usual eharg.
esof govesnment--to pay the interest
Of the public debt, and such . portion
Of the principal as the laws, previously
made, had reqaired-to provide Tor an
army so reduced in numbers as no Ion
ger To deserve thesnamc-and tor a few
armed vessels to protect our commerce
in the Mediterranean, in consequence of
some piraticsl acts If the paItry regency
oil Tripoli: under these circumstances,
forth Came Law bearing the pompous
title Of g An act making provision for
the REDkApTioN of the WHOLE pf the
PUBLIC DEBT u" What was the obvious
inference from this sounding title !
What would stranger to our finances
have tpought9- Certainly that but
f9rfs4t and umeetfset provision bad be.
Tore becp made. But what wasthe fact!
Why that such provision had been
made iono hefsre---irf the admins II ariun