As To Taxes, They Are Evidently Inseparable

It Is Of The Greatest Consequence That The Debt Should, With The Consent Of The Creditors, Be Remoulded Into Such A Shape As Will Bring The Expenditure Of The Nation To A Level With Its Income. Till This Shall Be Accomplished, The Finances Of The United States Will Never Wear A Proper Countenance. Arrears Of Interest, Continually Accruing, Will Be As Continual A Monument, Either Of Inability, Or Of Ill Faith And Will Not Cease To Have An Evil Influence On Public Credit.

The Experience Of Treaties Being Broken With Impunity Provide An Afflicting Lesson To Mankind How Little Dependence Is To Be Placed On Treaties Which Have No Other Sanction Than The Obligations Of Good Faith; And Which Oppose General Considerations Of Peace And Justice To The Impulse Of Any Immediate Interest And Passion.

Is It Not Time To Awake From The Deceitful Dream Of A Golden Age, And To Adopt As A Practical Maxim For The Direction Of Our Political Conduct, That We, As Well As The Other Inhabitants Of The Globe, Are Yet Remote From The Happy Empire Of Perfect Wisdom And Perfect Virtue?

There Is At This Present Juncture, A Certain Fermentation Of Mind, A Certain Activity Of Speculation And Enterprise Which If Properly Directed May Be Made Subservient To Useful Purposes; But Which If Left Entirely To Itself, May Be Attended With Pernicious Effects.

It Is A Well-known Fact That In Countries In Which The National Debt Is Properly Funded, And An Object Of Established Confidence, It Answers Most Of The Purposes Of Money. Transfers Of Stock, Or Public Debt, Are There Equivalent To Payments In Specie; Or, In Other Words, Stock, In The Principal Transactions Of Business, Passes Current As Specie. The Same Thing Would, In All Probability, Happen Here, Under The Like Circumstances.