New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-01

any debts for the benefit of the next
generation. Here is his own state
ment: I'VE may consider each genera
ton as a distinct nation, with right
by the will of its majority to bind
themselves, but none to bind the sue
ceeding generation, more than the IN
habitants of another country. the
period of a generation is determined by
the laws Of mortality, varying little
in different climates, but Offering
general average of nineteen years. Al
nineteen years. then, from the date OF
a contract the majority Of the con-
tractors are dead and their contract
with them" (Ford, X, p. 3S9D Later
on he advanced his estimate Of gen.
GRAFTON from nineteen to thirty-four
years, but extended his ideas of the
impossibility of any longer binding
obligation so as to include not merely
debts, but laws. and even the Consti-
tuition itself "The Constitution and
the laws OF their predecessors are eX-
tinguished in their natural course with
those that gave them being. Every
constitution, then, and every law nat
urally expires at the end of thirty-four
years. If 1t be enforced longer, II Is
an act Of force and not Of right" Such
was the deliberate and carefully writ
ten opinion Of the Father Of the Dem
ocratiC party. Tie greatest city Of
the Atlantic Coast has been governed
now almost continuously by his fol-
lowers for a century. In spite Of these
Jeffersonian principles, they have Gre
ated in that time a debt constituting
first mortgage on all the property in
New York City for SS15,OOO,O0O. Pos
sessed with such wild notions, he could
not mind his own business in the Cabi-
net, but was perpetually harassing
Washington with attacks on the tinan-
Treasury-the same policy and the
same Secretary Of whom Daniel Web
ster said. thirty-fve years later: he
smote the rock Of national resources,
and abundant streams Of revenue
gushed forth. He touched the dead
corpse Of Public Credit, and II sprang
upon its feet" OF the policy thus
Justly eulogizcd on it's results by the
greatest American Of the next genera
ton. Mr.. Jefferson finally brought him
self to write lin the Anas, Ford, l. p.
lGO: "Hamilton's financial policy was
grounded in corruption and dishon-
esty 1t had two obJects-tirst, as
puzzle to exclude popular understand
Ing and inquiry, secondly, as a ma
chine for the corruption Of the legis-
lature." The lack Of pure republican
simplicity, as he conceived It, and the
lack Of sympathy with these amazing
dormas Of JeffersOnian finance brought
him by the end OF the third admins
tration 10 the belief that, at any cost,
these monarchsts in disguise, the sup
Torters Of George Washington and
John Adams, must be turned out OF
the control Of the government TO pre-
serve "our threatened liberties"
Split in Washinetons Cabinet
Thus the best OF motives, the passion
for liberty. led 10 the first great d.
vision OF parties in the United States;
10 the first split in Washington's Cab
met. from which jefferson resigned
after three years service, and TO an
ernbittered war upon his old colleague
and friend, John Adams, whose Presi-
Dental career he cut short at the end
OF one term. On the one hand were
the men Of the Constitution, who
wished the people TO rule, but also
wished them 10 pay their debts, and
carefully sought to guard against such
sudden and rash action as had cost the
life OF previous republics. On the other
hand were the passionate devotees of
liberty above everything, who believed
that restraint or delay in the immedi-
ate execution Of any hasty and ill-con-
sldered popular demand was unrepub-
lican and dangerous, and meant an eff
fort 10 restore the monarchy. Both
were sincere: both wanted the people 10
rule. But the one wanted the people to
have their way through the ordinary
processes OF government they had
themselves made, and absolutely con-
trolled; the other wanted them TO have
It at any hazard and at once.
OF this last party Mr.. Jefferson be-
came inevitably the head-driven TO 1t
by the great idea Of liberty, OF the orr
gin Of government and Of It's sole pur-
pose, which possessed him. Hamilton.
while he lived. was as inevitably the
leader OF the other party. He was
young man with far less than Mr.. JEFF
ferson's advantages, and (only except
ing the Declaration) with fully equal
achievement. OF these rival leaders
the Welshman was born to a landed es-
tate, and a place among the ruling
classes in the greatest and most infiu-
entail of the colonies. His Huguenot-
Scottish opponent was born to nothing
and made his own way in the world
from boyhood. The one early took his
natural place among the Legislators Of
his colony; the other, much earlier won
for himself his natural place as a
leader in the stormy political agita-
tons of the years before the Declare
ton, in the great city of the coast.
When the war which the Declaration
invited broke out. Mr. Hamilton flung