The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1816-09-23

u =
gree of weight V his argument, should
have shown that the country was ever
before in such a.s,atc. On The contra
ry, he acknowledges, and we'll he NAV,
that the difficulties Of The country are
greet, thong he says, "not very alarm
ing" And then he rides of upon tbs
observation THAI. ne "have been con.
tending for cur existence - This ]
deny. Ideny that the war was either
necessary Or justs.sI. say that we have
beer contepding for the restoration OF
the Boorb6hs, and NOT for..any ,intcses,
Of England. :Werwiil, therefore throw
this interloping observation aside, aat
stick toithe matter in dispute.
The Chancellor plainly enough indi
Gates his opinion, that the thing cannot
SO on without the Income Tag. eth,
only question Che says) is. whether We
can dispense" with that tax or not
Aud, in spite of bis g trusting" that we
can, MIR. Ponsonby very Justly eonclud
ed that the intention was to rc-impose
that terrible impost IN answer TO which
conclusion no observation was made. |,
is clear as day light that it will DC i'm
possible TO pay the interest OF the debt,
and TO keep up even one half of the
peace establishment without the income
! tax, or withou, large loans The latter
would, in few years, blow up the
whole system ; the former would has.
| ten greatly the exchange of real pro-
perty from hand TO hand. The present
owners OF estates must lose ihem--and,
that too in very lew years and bstorc
this can take place, serious struggle
OF some sort must and will take place
[ The Chancellor, poor man, appears
to have been quite stocked at the pro
position OF MIR. Smith. he spoke Of a
reduction ofthe dividend, IS i,o,ng "no.
| thing less than National Bankruptcy I;
as something so devoid of juilce that
The house would neUsr 0ec.dc 10 II, as
an enormous 6reCeh Of ta.th - And,
indeed, MIR =. Grant appears 10 have
| concurred.in these views oil The propo
siiion But then we may yefy reasons
bly, ask MIR. J Grant WHY ne did no,
| point out some other RENT dY for that
| dedication, which no said would Ger
| ,ainly take place. AS TO the 5ytach Of
liaIGh, we viii observe on il presently,
when we have heard what the Courier
oi the neSi day said on The sui,iec, -
! dud hero you will please TO observe,
Ethat you are not to itok upon the All.
Gle ! am about TO qeotc, as the prUdGc
ton ri the proprietor or editor at the
Conflcr,-but as the production of ssss
and therefore worthy q great
attention. '0bserye how they me4acs
the land owaers The cor flict oil into
rests, whiehI have before described to
Eyou so fully, is here actually beginning
10 break out.
g fhe Chance Hor Of the Exchepuer
lexprssscd bis strong, unqualified and
fnat dissent from the opinians adyanc
led by Mr.. w Smith, which were un
| aers;ood 10 be 10 favor Of diminishing
the interest on the National! Debt. MIR
w. Smith has Suggested this remedy
Tor our eropa:rsssmen,s on former oc
casions. There is not much OF inee.
nuity or originality in the suggestion,
| though there is much of boidues, and
of mischief Reduce the interest (!
! Why not reduce the principal also OF
what value would be the principal with
out the interest? :, here is no engage
ment to pay the principal the ouly gu
| GagenieGt is to repay the interest The
property therefore consists in the in,e-
rest, and not in the principal And why,
Exclusively, rob those individuals Of
their property, who have been the most
lforVerd 10 assist the country in the
hour OF distress who have, with the
most ready confidence, placed their
faith in Parliament! BY what tenure
| do they hold their property By the
Jaw of TIE land, solemnIy enacted by
the three branches of the Legislature
| BY what tenure do the landholders hold
their property BY law also. not in
deed ty statute law, but by common
law. by usage How came The Duke Of
Bedford, for instance, by his great land.
ed estates? His ancestor having travel.
led on the continent, a lively, pleasant
man, became he companion OF foreign
price,wrecked on the Dorsetshire coast
where Mr. Russell lived. The Prince
recommended him to Henry VIII. who,
liking his company, gave him large
share Of the hu6Hc church lands Why
should such sproperty be more respect
ed than that which has been acquired
by the merchant, the manufacturer, the
soldier, the sailor, the artisan, O. which,
on the faith Of Parliament, has been adj
vanced TO government? Should the gifts