r of
youth; increasing in hands; increasing in wealth; and, although an
imitative policy had unfortunately prevailed in the erection of a
funded debt, in the establishment of an army, the anticipation of a
navy,[14] and all the paper machinery for increasing the number of
unproductive, and lessening the number of productive hands; yet the
operation of natural causes has, as yet, in some degree, countervailed
their influence, and still furnish a great superiority in comparison
with Great Britain."

An attempt was made to liken the present situation of America to that
in which she stood at the commencement of her revolutionary war; and
the arguments drawn from the inconvenience to which a privation of
British manufactures would expose the people at large were answered by
observing--"This was not the language of America at the time of the
non-importation association; this was not her language at the time of
the declaration of independence. Whence then this change of American
sentiment? Has America less ability than she then had? Is she less
prepared for a national trial than she then was? This can not be
pretended. There is, it is true, one great change in her political
situation. America has now a funded debt: she had no funded debt at
those glorious epochs. May not this change of sentiment, therefore, be
looked for in her change of situation in this respect? May it not be
looked for in the imitative sympathetic organization of our funds with
the British funds? May it not be looked for in the indiscriminate
participation of citizens and foreigners in the emoluments of the
funds? May it not be looked for in the wishes of some to assimilate
the government of the United States to that of Great Britain? or at
least, in wishes for a more intimate connexion?

[Footnote 14: Resolutions had been offered for the creation
of a small navy to be employed in the Mediterranean.]

"If these causes exist, it is not difficult to find the source of the
national debility. It is not difficult to see that the interests of
the few, who receive and disburse the public contributions, are more
respected than the interest of the great majority of the society, who
furnish the contributions. It is not difficult to see that the
government, instead of legislating for a few millions, is legislating
for a few thousands; and that the sacredness of their rights is the
great obstacle to a great national exertion."

In addition to Mr. Smith,