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THE M)RTH-CMlGH I Tvmtt-fit Shillings per TearJ T.U E S D A Y, A?tij, i8oi. i . . i,.i ... -1 ou V Numb '260. A LETTER From RoBtir Go$DLOi.Hjtftz, of South- Qarofatf'lo bifConJIilutntt, : --' -(cOHCtCDSD) ; ; , - In 1790, we had a debt of feventy fix V million qf dollars, tranfmitted to u from the old confederations without a (hilling of xcvenue to pay the principal or inured, or even to. defray the moil neceffary expence of government This heavy debt, the price rf our independence the federalift have liquidated, and provided for. .They have , punctually paid the iotereit, ) difcharged a confiderable part uf the principal, and e ftablifhed permanent i" and folid revenue! whereby the intereft will be regularly paid, the amount of principal gradually reduced; . ana toe waoie ueDt; exungnnocu in ""out, twenty-four yean. Atfidea of the magni- lode and difficulty; of thefe operation, may be foi mcd from the fundi required, .and actu ally paid,' for the interell of ibis debt, pic .ions to the year 1800. "j. Thh funi amounta j o upwards of twenty three and an half mil- lions of dollar. 'In addition to this eBor ! son fum, the payment of 4it'di was ab folufcly neceffary, the federal adtni'flirtration , baJ been under the neceflity, prior to the : year1' 1800, of paying upwards of five bUn , ired tWufand dollars,, fur incidental claims4: arifing under the old government, but not included in the amount of liquidated debt ; ' one hundred and'fixty four thoufand, for debts due to foreign officers who fered with ua in the war ; one hundred and 0ty nine thoufand, for certain parfe of the old, . ebt which weie not'funded.'and are net j included ia the above amount 1 nine hun dred and eight thoufand for pei.lions to in valid foldieri who ferved in the war three hnadred and forty feven thoufand for the eredion arid fupport of tight noufesfor tlte,! security 01 traae ; for inc profvi-yoa w.our- . colls ana cities oy e OTtiHeat'0.ri"ts -and harbours, five hundred and.'fo.rtjr ftx thoufand, for making and piefcryt'ug peace with the Indian tribes V one : ntiilion two hundred and fifty thoufand,- ti fopgielnC two iufurrcclions iri PennTy Ivahfa ; oc n.it! lion' x bundred and eighty two t'nd, for fedeemiog our .citizens in captivity a- tnong the Algerine, and for tmkiog and J prttmmg peace wun tnem and the other f Barbary powers two hundred and thirty ' nine "thoufand, for eftablifhiog boundary lines between us and Spiu and 'Britain . ' and carrying "into effoft out treaties , with ihofe nations j and one hundred ami thirty . four thoufand for the cenfus taken purtuant to the conftitution. In addftiion to iliefe heavy (ixpenccs, . which were triSilnilble, nd which amount together to five milli on nine-hundred and thirty "rune itioufand . ' dollars fi'the. fupport', of the clviPgoveru isient, in all ' its varidus branchea. and de. rtmenta,.'bad' requtreti; tfrpih' the time of '. at cftablifliment to tlie ieiniuog of t Soo, ' the fum o.Jour millions- to Jiondrel and fixty five thoufanJ dollars the ti)dim war whicaahe fedr rai'governnTent .bccn compelled to mwntaU' tbe frontiers, batl, ccafiofied'an' additional ttpenceorat'ltait five millions - the military xftabpfiimeati' iocluding tilts fum office millions, the pui--chafe of armr and "military Jlotes, and all the additional 'expeooe of our preparations for defence again A France, ad coh thir teen mfl'jfm ttghty three thoufand! dollars j oor Degociatkms. rtd . inteceourfe with fovf ctgB nation, 'including the iniifions to France which were cry expenfive, the ker Inordinary' roiffion to England,' and the snaintainsnce bf all ow Mi miters abroad, bad ofl feven bntidred and fifty nine thou; faad dollars ; and Irffet expenegsfor a va-, airtv of 'incidental bju&S, amounting in the Vnoie to a very 'condJerable fum,' 'had . bceb nectffariJy incurred', ? ', ' -A lr thefe-otwy dema fids Lave been me t purchaied the fafety and honor of the na tion, jne protection oEilf Trade jnd.ref peft to it rights in time td come. 1 Surely if the purchafe had ftotit here, it would yet bav been a cheap one j but it did nbt ftop I iiere. With that fum the federahus have purchfed "in addition, s net only a largt quantity of rms,"artd of militaiy and naval ilore' for future ofe. bot alfo a oavr con lifting of thirty nine veffels of various (lit ana torce, mounting upwards pf eight bun dred and feventy guns,, and ' manned with upwards of feven thoufand feameoand, ma rines.' ;,Tbey; have lfo made confiderable, propriefs in the eKablifh merit o navy yards dock and wharves nd preparation, for building fix fe veoty four. . Tfcil very valu able public oroDertV, the indniment of our prefent fecilrity, and the fure Prcfase of million! cigHt hundred "ana forty " feven ' iuqumhu uuuira mrc cenvea irom me lm poft and Uli,Dagei; duties eight fibiidred fixteen thdbrand, frbm, the internal dutie, on diftilled pirH s and fli'lJS, au Aions re tailers licenfes,' 7 ridini -cirriajreK" f(!finc4 J fogafrind -flamps y eighty thoufand ftoni pottage oi letters and the rcS from feye ral fmaller- foiiree of revenue.' ; If td thil t add tilt hundred thoufand dollars Tor re iceipt from the direct 'tax," which may be fafely relied on, as the whole amobnt is two millions; and no more titan lirre hundred f &d eighty thoufand have been yet receiv ed V and add alfo nine Kundred thoufand. for' the augmentations maJe oti" tie impolt duties ih r799, it gives U9 a ttvtnuc, for the prefent year, of eltven millTAns three hundred nhqufand dolhirj, exefufitfe of any futureygreatttefvth product oi tier prefent dn obtained ter their c)unti by coatraeting a debt very inconfiderablt in itfelf, and the meant of readily emiuguilhing wliich they .have, alfn provided. , t"' K:--t How have they 'effected -all this? By .audi anfwered by - the fedcraliftsj; iuthe courfir of dieir " bort adminiflration : and adkltough at firft, before tbtir.fy'fle'in of re venue had come into trffective wptaiioB tbey-were unfier the;fteteffity of cootratl tg a .newydebt, for immediate purpofes, tbry have long fince'exiiWuiJlied riot only that newdtbt, but a very tornfiderable part J Attne 010 one," ana na ptovioec me means of annual payments, capable of extinguifli'-' iog tbe whole within a'reafunable time. It is true that tbeir preparations fdr dc teaceagaieTrance, by fea and land, com pelled them to eok ploy .in that ' way, avfur plus f reenue which : would, otherwifei have been applied to .the extinguifhment of former- debt and c'ven obliged them to contract a new one of uV fai'maW and aa ' fcslf ridilii&tQtflifo dvU tbey hare J means of a revenue derived frohvcommeice, which their proteftion fid encouragement ,of eooimerce ba enabied !t to 'afford, v- a tpveniic which I paid without being felt whitb. bears eq'.ially,iai)d mbl lightly,' on evcry-ilars, and cveqr individual of the com munity $ which ioHJofes a burden on the people of die united States thajlhofe of any other nation bear ; and which, be ing botimed on the confumpttou-of the country,i.muft incieaC; gradually, but per." mahentlf, with its increating population and wealth. V- .. v''M.v ''' The increase of this revenue hitherto, is at once the mod flattering and the mott fo lid proof, bf the wifdora of that political fy Item which 'they have deviftd "aud ellab ,Kfhed. , " ':' - '' - '..-., ', vTic'i'Spollj and tonnage duties, "wliichj twtiear"mi1Ria Teyeoue, were laid to the Jea'r 1 8). but- 'were ot-yrail'ed to near tbetr prcfetit-rate,Xiitl about 1794. In"i77,'"lorh?;"augttientatioru were fuade which have ptoduced tlwip cBVcl on the re 'cttti into the; irvafiiry;v atid in '1759; fur thwhurneiiiationa, to tlie ellimatcd mono: of about wine honored thoofaad dol ais,'ook plKe.' 'Kut this latt augmenta tion has not yet been telt in tfle receipts. Taking therelbie the amount cf thefe dii-' tics in 1 79Ji when the Itrft augrhcutatioii's tad e xillcd long enobgh td produce ''their fuilrffsdt, andebmparing it with their pro duA' in 1 806, whin the tffe& of 'the laft augmentation had not yet been felt, we fhaH iindthat they have increafed from. five il lion five hundred and eighty eight thoufand dollars, "their amount i '179, to tight milliixii eight hundi ed and forty fevco thoU Jkadjkh-ich they'yicMed in Jijpoo." t After makitig full allowance for the augmentation of duty 'which "took place ; in 1787, this gives a clear natbral incieafe in this revenue, of fifty per cent ;in five years y : which is ten per cent annual increafe dnthe ahoie amouot .of each year's product. In 1 795 this re venue fuffcied a conlidtrable deprtlfi.m ; be--caufe iu that year tbe rcffeclts of former de predaliona oh 'Our coitmerce were mofl tttongiy felt, and tV-: bentfits Jirifing from bur navy and otheV dtfenfive Vn-Gres, had not yet been experienced. The reVenoe thercfoie,' funk in, 1 799. from Vfevca thilli ens four hundred thoufand dollars, Which 'it produced 'in 1796, to fix ! rrrilhotis : lour" -hundred and thirty thoufand. 45ut in i8co, when our -defenfive meafures, nd cfpecial -ly the proteftion arfforded to out conmefce by the navy, hail produced their fnll effeel', the reyen uc role i uddeidy. to eight toillions . eigla uUodred thjuland dollar 9, ' This progrefiiv and folid increafe of our wefloefor five years, which has not been, ties. i Butlf we fappore thote duties'to increafe in the prefent year, at the fame pgrcfJvc 'rate as for tfie laH",five years, the ,tnfrtar will amount to neatly one million"! which .adJed tb the former amount gives a revc- n'ue of at leail twelve mfhioris fdrlic"re-' ffnl vear.i ' , Tohis fum we rnoft add 6bou'ttwo mil-' Jiorts wliich remain a a furplda from the hit year; a furplur occafioned by the vail increafe in the 'prod uft of live duties,' be twecn the lalt and the "prrcefding- tear. Our funds for the prtfent yc.u, therefore, We fourteen.mil!ibh8 of dollars,; iet'j fee wjhat are to be our expencea. ' .-V -'V i ThecxpenccS arife in the firft place from our debt ''' in t he 'feebnd, from the fupport ; :of our tivil ttiilitary St naval eftabliihmcnts'; J u viit itmu, (lora our imercoune wua lor- , 'eign nations' ; and iu thefurth- 'frotti va' J rious incidcriialasd "contingent 'charg'efi,' whicb milft always be er peeled tb occur in 'conciuciirtg the affairs bf a gresft'bafton.. : i . , Tiirexpenccs aYiling from oirr debt.'con fiSjn the 'pymetlt of tnelntefeft, andJin " nn il , payments for'the;graoual extmgmh- '.went of the -'-jirijfelpaFj forhe pre'entVyrr w iritrtdrtd and Tarty 'the.th6iifahd do1--; . ?'-Of "this - fum'- about ' th ree 'millioii a .foWubit'd'teS andVTxty feVen'thHufaad 'clbl, lars, ore for the (It 'per Wntftock,'d Tr, clude; ot only the inte'r'eft. bnttwo per cent birjLhe.ambiiot'eTtbe -principal, which There fix-l,per cents 'conllit'uce' th'e Sjfcat :i laWriftia year,'will,"Sft' the next taih of our debt, A confiderable' fcart of A wijliftri riiiie jhur.tireel rhoafaod ; a ralift trabfmlt to theiCfoccefiori i "peace abroacl ; border and a well eftabL'fhed vernment at home a batioftal character ex aked ; public-credit firmly euabliihedi'n rerptlable and iuctlaflng, navy a flecreaf- ' ing debt a prosperous agtfcultufe $ a flour UKingTcotrrmerce,t-au augmenting revenue" not felt by' the people atid a balabce ia the treaftiiy to the amount of two million and a half of dollars. . " " " 'j v ' The amount of,reVenUe will be dimioilh ed aTtcr'th't preterit and the next yeir, hj i Vie deduction i of re'celptl . from '.the direct -tax j the .whole of which, ; or very nearly i the whole, will then have Veeft Collected but tbia reduction will be more fb3nicom penrated by the gradual increafe in the pro- -ducVof tire dudeft. . Norths laft five yearr" thisincreaTe, in tiic impoft acd tonnage dup lies, nas been it fomething more than the rate of ten per cent each Year, on theDro-y' duel f.f the former y'earv As ihofe "duties' protluced e.glit t itliona eight hundred thou i land M!iis, Jail yes ; iliey mull at that rnte of Increafe, produce about nine milli ons and X'half in the' prefeot year, exclulive; ' of the 'augmentations laid on them in 1799,' U We atfil only Jive liundrea. thoufand dot. " lars for te'amouiK of ihofe lugmetation9t and thty ytr 'etlimate'd' oft folidrinciptea at nine hundred thoufaudr we mall have at l aft tea millions for the whole produftto tliiayeHr - SuupoGng .thir 'to increafe for the next five year, only fix pet cent aooti ally in It ead, of ten, and we tfiall have tiex year teh "mtilion fix Irandred thoufand dot -: Um7 frv the year after eleven millions thre , hundred thoufand t and in the year 1 80? T thirteeh million. - If wefuooofe. as we are t jufti'ficd by 'exprrience in doing," that the other hrahchea ot our "revenue, which now produce about one million,-will increafe ia nearly in the fame -proportion', they will, ia . .1 8JJ, :. 'produce -abbot fourteen Kuodr4 thbiifahd dollars which add ed to the im :p6ao4- tonnage duties, Viil give us, in that 'year, clear Tolid and conftaatly in- " creaung incorne'of njore thaa fourteen'mil tions Of dollars. ;' ; v Our -'expertcrt jj'n accotmt ' of otfr debt, will hi incr afrTcr the pefnt jfear bet' 'eatefe greater paymerrt or tbe;prtbciparof the foreign dthi will then otconia dtte The payments on -account tf that'debt. inclual : ibg prmcljal"a'nd intereft, which are tmiy riineliunditd 'ind ninety five thoufand ded- them, 'formerly faled the 'deferred 'deljt, did not bear iiitercft tilitiie'prerent Year. Ncsirly one million, go to t he ; foreign ocbt :; part for iritereft," and part for the difcharpe of the princ'p l. Somethsng mrirethin'fi hondt-ed and fix thoufand are for the tbrrt per cent, four and a half and 'five arida half percent -debts, the inter Wr of which is paid. Tivc 1iu,ridred''a)ndtevility4 ftiur thouland are for the intereft of the debt contracted by the'-repaVa'tmnt' againjl FraWe 7;irid Tthe reft for the pi irtefprarid interelh ef J"um'a(a(r Ithe banks.' " X : ' "' -";- Vf' isi ? TKe foot ItpprapYlated ihemrcnVsr for the fupport of the civil gVverftmentV tb- all its branches and departments, including ?! lutercoHrte wun torcrgn nations, and evrry 1 incidental charge conrieaed with the 'trwil cftablifh merit, amount to about One milli on 00c itundt-cd and . fi fty -three hoo'fand ' dollars.5 ofe fjr the military eftablilh--meit, including the Indian department';1 four hondred thoufand dollar for the fabt i ication of cannon and Tmall arms, and tljs. purchafe of ammunition 'i ; two 1 hundred thoufand for the fortification' of ports arid harbours ; and ninety three thoufand for penfians to invalid foldiers amount tW two 1 million and fixty three thoufand;' Thole 1 confined tojhejmoft aijilioDndge Jutiesfo the aVy-inciuding tlieHfuppOit'of the and In the 1 -1 r " a t j - - bnt has extenoea itieir to the tramps, the fliil tax, the foliage of ''. letteia, and every other branch of t,heTaxe8,, enable v to calculatv, with great ' certainty, the future mount of income which we may expet, if our affairs be wt 11 conduced ; and, by com . paring trwith-thcT'probable amount of our .expenditure,; to, form a jull idea of the pow er and refourccs which thV government mif poffef in time to come.-' - ; ? t, . r Our revenue for the prefent jrear, fuppof ing the produQt of the duties to be only as large as it was in the lift, will amount to fomething' more than iaeoaillion" eight hundred " thoufand dollars ; ,exclu(ive of payment on account of the diredt tax ; from which three .hundre and eighty one thoufand dollars were received laft year, and a much Greater fum mat be exbc&ed in the prefent year. Of this total amount, eight J marine corps 1 five hundred thoufand -dot lars for completing navy "yard3,"docka irid wharves, rand -finimiog; the -ifix efeventy fours ; t wenty' thoufand for teTfftion of marine barracks ; and feventy -fi ve thoufand for thevmaintainan.ee of French priioncrs ; amount 'to three million and forty two thoufand. The redueilion of ? tbe siavy, however, to a 'peace eftablimmedt,; WiH di rninifiithi branch of expehce aibe-ut' one million t fo that we may take two wrilliooi for the navy 'expences for the prefent year, . : C Tbefe. variouiiumi taken together, - a--mount to eleven millions three Jhundjed and .fifty Dine thoofand dollar. ' DeduA thil fum from foOrteen ' millions, the amount of our ..Income for this year and it leaves a clear, balance of two .millions fix hundred Iaod forty one thoofand dollar. -4- ' : -' " ouvh it wc luocriiaucc wuiyo jeue- year 'follo wing, namely 9 it will amount to tvro "riiilliojnjrx hundred and forty. oie,' thrihfa'ftd.: Kriie 'fo'rplus for the preienc "j . yfcar,' hoWeverrand the incretfc for future years,- wiirbcKfEcient 1o meet, thefe large pa)'mrnf 1 1 mere t'fjpicially as btir exp'encea iii the tnilftary'and 'naval, 'departmenr. 'mirr oc oiiiHiiutieq ancr me preient year, oytne amount of feveral items which will nbtc hereafter -necolfary Of thf nature are" Te venty "five thoufand dollar for 'French pri-. foneps j twenty thoufand for- rcarine har- ratkr; 'two hondred ' thoufand tor fortrfica tioiTs'i four hundred thoufand for thefaori cation "of armb and "five hundred thotrfaod.' for eom'pletbg the fix feyenty. iour j the objeft of molt of Which appropriationa wilt be accompliihed or removed 1 nd the ft may be deferred 'Unu'l the payment on the foreign debt . are effected.- After the yec 1 803 t hofe ?jaymenta; gradually diminifti till 1809, when they will wholly ceafe bf the ' final cxtinguiflimeot of the foreiga dtbt. ' Thus an annual fum of about mil-1 lion and a half, which will be required oa -an average, for the payment of the foreign, dTt wiU befet frce, and added to the fur- plus :-of revchue at ;the 'difpofalofthegb'.'7 :.vcJ-ment';-:"t,f"' "' "XKT ' That . frirpluti, 'calculating as weLinar TaMydaTcVn the permanent and progrefiive . increafe .-ef the reventie, ; will then amount' to"it leift three', million annually j which - -may beiployed m tlie rxtingtiiiliment of ' thofe part of our debt which are not in cotirfe of difcharge by aitiiwal payments t ! 'in. building .'n Jpowfiful navy ;"in providing completely for the protection of our cities and ebafts, by the fortifiearioa of our p'ohsi ' arid - harjoursff iobringing' the various ' . . parts of ..em's country.' nearer 'totacV othf by means ofA Toadsa'nd pfidgeVf in open." ing its . inland .water commonicatiori by ca- , nal 1 in the ereflion end endowment of In-""'," 7 ftitutions for education j and, in fine, in all thofe . public undertakings by which a wMe and fbrelecing' government knows how,.. to ptomoie the public happincf and prof" peritr; to ftrenc then, enrich and embclllf -' a-Ciountry.. ''''VtTP -.; Aed ,wbea ithe lojuftlcfof otiejXW, 3
The Raleigh Minerva (Raleigh, N.C.)
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April 7, 1801, edition 1
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