Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1814-10-27
THE ANSWER.

Treasury Department, Oct. II, 1914.
SIR-I have the honor 10 ackDOwf-
ledge the receipt Of your letter, dat
ed the 18th inst. and, aware Of the
necessity for an early intrrps-iti'n
Of congress on the subject 10 which
it relates. I proceed. ut The mome.t
sfeniering upon the duties Of Office,
TO ufftr to the consideration Of tie
committee of Ways and Means. IN
answer on the several points OF tier
enquiry.
Contemplating The present state "f
the finances, it is obvious that ads-
iirieney in the revenue, and de-
probation in the public credit. ~. st
from causes which cannot in ~ny
degree he asc,ihed, either 10 lho
want of resources, or TO the wsni q I
integrity in the nation. Diferrr r.
mind. will conceive different Opitiot IS
in relation TO some Of these eau.,' -
but il will he agreed or Ill sid =.
that the most operative have b. ~
he inadequacy Of our system Of t.. s.
alton 10 form fonHdaiion for pu: -
lis credit and the absence r,..s
from that 5, stfm ofthe ms ms whirh
are hest adapted 70 anticipate, col.
Ieet and distribute the pnh!ic re,enue,
Tie wealth Of The nation. in tvs
value ndptoduets Of lis soil, ia al
lhe acquisitions of personal property,
aut la all lie varieties 81 INDUSTRY.
&c s.ails almost urfoueitcd Ey tie
laid Of gc'ernmen': for, tie na-
iionsi faith, and not Tie national
wealth. has hitherto been the priv
eipai Instrument Bf GBDncP. IL was
reasonable. however, 50 expect, tbrC
a period must occur in she ranrse Of
ii pf0tIacted war, when confidence
in The accommodating public rrga ge-
meats could only be secured D., IN
active demonstration. 10th Of the
capacity and the disposition to per-
form them. In the present statc of
the treasury, therefore, it is Just
consolation ~ reflect, that a prompt
and resolule application Of the re-
sources Of theeoun,ry will effeeiual-
|, relieve from every petuniary en-
bsrra.sment and ,indicale the fsesI
honor Of the government.
But il would be vain 10 attempt to
disguise, and il would be pe.nitious
10 pai!iate the difficulties which are
now 10 be overcome. The fxieen.
cies OF the government teqGire q
supply OF treasure for the pro.ecu.
ton of.the war, beyond any amount
which ii would he polite, even If il
were practicable, 10 raise BY an i'm.
mediate and constant imposition Of
iaAes.-1 here must therefore. be a
resort to credit, for considerable
portion Of The supply. But the pub
lie credit isatthis iuncfure so de pres.
sed, that NO hope Of adequate suesor.
On moderate terms can safely rest
upon il. hesee. ii becomes the OBJ
jet irst and last IN every practical
scheme I'll finance. to re animate tic
Conscience Of the citizens; and 10
impress on the mind Of every msn.
whe for tis public account. rcD1ers
services, furnishes. SUPPLIES, or sd
'anccs meney, . conviction Of the
Puncina.iiy as we'll as OF tie sceu-
r;ty OF the government. II is MT to
be regarded, indeed, as the ease Of
preserving credit which has never
been impaired. but rather as the
ease OF reseuiag froEa reprosch Gre
dit over. which doubt and apprehen-
sien mot the less iniurions perhaps.
because they are Y;yiensi = Laye cast