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w in their malignant envy hope for the permanent dismemberment of America, will then hail her resuscitation with a zeal which will be none the less advantageous to us for being forced from them in spite of their present hate and detraction. If the division of our country would destroy its influence abroad, and subject the parts to constant intrigues and interference from foreign powers, the restoration of the Union with even more than its former glory will give us unexampled weight in the counsels of mankind. Our unexpected and astounding exhibition of military power, our thorough command of the American continent, and its immense resources, hardly yet begun to be developed, and the unlimited prosperity which the future will assuredly bring us, cannot fail to strike the minds of European thinkers, and to awaken deep interest among the European people. The stream of immigration, interrupted by the war, will be renewed with at least its former fulness, and will keep pace with the demands of our country for labor and population. The South may then be expected to receive her full share of this increase by people from abroad, and will then commence that process of condensing and permanently fixing her population, without which she can never attain any high position in the scale of civilization. The large public debt destined to be incurred, may be expected to have some influence in preventing immigration and improvement; but unless the war shall unfortunately linger far beyond the period at which its end is now anticipated, the liabilities of the Government will not be so great as to prevent the speedy return of our usual prosperity. A different and far better system of taxation will be required--one more favorable to commerce and at the same time equally productive, or at least sufficiently so to meet all our liabilities and provide for the extinguishment of the debt within a reasonable time. One of the advantages attending this great debt and modifying its certain evils and burdens, will be the necessity of devising a stable revenue system, intended solely to provide means for sustaining the Government and meeting the public obligations. Periodical changes, often depending on party ascendency and popular elections, have hitherto marked the financial policy of our Government. So long as the sources of revenue were superabundant and the demands of the Treasury very moderate, we could well afford to make experiments, and eve
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