Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1819-02-10
CONGRESSIONAL REPORT.
In Ssaate, January %.

EXPLORATION OF DOMESTIC COINS.
The Committee of Finance, to whom
was referred resolution to inquire into the
expediency Of prohibiting, by law, the ex-
portation of the gold, silver and copper
coins of the United States, report:
That the measure contemplated in the
resolution, intimately connecting itselfwith
the fiscal concerns of the nation, the COM
mittee, through their chairman, addressed
note TO the secretary Of the treasury. re-
questing his opinion Of the propriety Of a.
dopting measures for the attainment Of the
object in contemplation. from whom they
received in reply communication, which
accompanies this report, with the arguments
and opinion expressed, in which those of
your committee substantially correspond.
Of the inefhcacy, ii not entire impotence
OF legislative proceedings, to prevent the
escape of the precious metals beyond the
territorial limits ofthe government, the his
tory of all countries in which the power of
legislation has been thus exercised, bear
testimony. And If all the efforts Of arbi-
trary power, in despotic gove,nments-if
regulations, dictated by the most cautious
ard jealous politicians, guarded by penal
ties and punishments the most cruel and
saliguinary, and enforced with arigor which
knows no mitigation, have been in vain {;
what hope can be INDUCED, that govern
ment, like ours, the genius and spirit of
which breathes mildDess and moderation
country, in which cruel and unusHal pun
ishments are unknown, could find the means
OF obtaining. by this mild spirit of legisla-
ton, this desirable end ? Indeed, no error
seems more entirely renounced and explo-
ded, if not by the practice of all nations, at
least in the disquisitions Of political econo-
mists, than that, which supposed that an ac-
emulation Of the precious metals could be
produced in the dominions of one sovereign,
by regulations prohibiting their expectation
TO those Of any other. The evils resulting
70 the community from scarcity, or too
small portion ofthe precious metals, seem
to your committee to be too deeply seated,
90 yield TO any remedies within the compe-
tency Of legislation to afford. Hts mala-
dy which admits of no cure but That of time,
patient industry, and perseyering economy.
As long as the balance OF trade is against
rs, So long will constant afflux of the pre-
cious metals be required for The disc barge
sfsuch balance.
From this axiom in commerce, the cor
RICHNESS of which, it is believed, never was
questioned, it follows-that il remains with
the people themselves to adjust this ba-
lance, and to produce preponderance in
favor of our own country. Highly favored
as they are by the bounty of providence
blessed witha country Of unparalleled fer
tiliiy-with soil, climate and situation al
most infinitely diversifed-wi,h capacities
of rivalling every quarter of the globe in
the agricultural productions, as well as in
the perlectioa OF their manufactures, raw
materials for which are so abundantly fur
nished them within the bosom Of their own
country-aided by moderate and wise
economy, in limited enjoyment offoreign
Injuries; with these advantages, duly ap-
and fully improved, to whatele.
vated condition, in their intercourse with
foreign nations may they not aspire To
the protection OF our domestic mannfac-
lures, by the imposition Of duties on foreign
importstions, the national government seem
ed to have gone as far as sound policy would
warrant or permit: The present tariff ha-
wing been framed, with view as well of
raising the requisite supply Of revenue for
the support of government, as, by the a.
of the duties imposed on foreign ar
ticles of manufacture, to enable our own
of similar articles, to meet
the importer of such foreign manufactures
in our own market, on teiiis of fair and
equal competition.
Further than this, it would seem to your
the congress OF the U. States
ought not 10 go. To commercial enssrprize
to the sagacity Of this class Of the commu-
nity, sharpened BY the keen sense OF inter- ;
Est, and enlightened by long experience, it
should be left, to explore the old Or, seek
ny new channels Of commerce, 6nd cut The
most profitable markets Of the productions
Of our natiye and domestic industry, and to :
bring us in exchange such of the produc- /;