purchases dear and sells cheap,—he is called a swindler and must soon become a bankrupt. This state deserves that most disgraceful epithet. We are swindlers; we gave three pounds per hundred weight for tobacco, and sold it three dollars per hundred weight, after having paid very considerable expenses for transporting and keeping it. The United States are bankrupts. They are considered such in every part of the world. They borrow money, and promise to pay: they have it not in their power, and they are obliged to ask of the people, whom they owe, to lend them money to pay the very interest. This is disgraceful and humiliating. By these means we are paying compound interest. No private fortune, however great,—no estate, however affluent,—can stand this most destructive mode. This has proceeded from the inefficacy of requisitions. Shall we continue the same practice? Shall we not rather struggle to get over our misfortunes? I hope we shall.
Another member, on the same side, says that it is improper to take the power of taxation out of the hands of the people. I deny that it is taken out of their hands by this system. Their immediate representatives lay these taxes. Taxes are necessary for every government. Can there be any danger when these taxes are laid by the representatives of the people? If there be, where can political safety be found? But it is said that we have a small proportion of that representation. Our proportion is equal to the proportion of money we shall have to pay. It is therefore a full proportion; and unless we suppose that all the members of Congress shall combine to ruin their constituents, we have no reason to fear. It is said (I know not from what principle) that our representatives will be taken from the sea-coast, and will not know in what manner to lay the tax to suit the citizens of the western part of the country. I know not whence that idea arose. The gentlemen from the westward are not precluded from voting for representatives. They have it, therefore, in their power to send them from the westward, or the middle part of the state. They are more numerous, and can send them, or the greater part of them. I do not doubt but they will send the most proper, and men in whom they can put confidence, and will give them, from time to time, instructions to enlighten their minds.
vol. iv.12
