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generally produces little or nothing to them. These are serious matters. Our gallant seamen constitute a large portion of the national defence, and honor is strength. Never may they be disposessed of that high-souled feeling and ardent patriotism which distinguished them in the late war, by plundering on the one hand, and the custom of insulting the flag of their country and of abusing their countrymen,on the other! Never may the hand that strikes in behalf of the United States be the hand of a slave-a machine, without sentiment, impelled only by the direction of a superior. There is no being so debased as the man who fights simply for his pay. It was for this that the Swiss were degraded in the eyes of the world, for they hired themselves out for soldiers to neighboring despots. Whenever this is the case generally in any country, the impressment of seamen and conscription of soldiers naturally fol

lows!

or a cent's worth of gold or silver to each individual. Now calculate

1st. Loss in transportation, by sea, from port to port.

2d. Loss by abrading.

3d. The consumption in gold and silver leaf for furniture.

4th. The consumption in plating.

5th. The conversion into watches, spoons, plate, &c.

After this estimate how much will remain for a circulating medium?"

Now-what of all this? In this specie-paying land, and with three or four specie-paying banks within one minute's walk of me, it often happens that my whole family, and perhaps, too, all the persons employed in my office, more than twenty in the whole, may not have one cent's worth of gold or silver coin, though the value of many dollars, in good paper, might be found amongst us. Still, it is the certainty that this paper may be converted into money at pleasure, which gives it a superior value to its weight in such old rags as it is made of for we do not want gold and silver, at present, except for the purposes of change. If "Homo" doubts this, he may overhaul my desk, where he will find several pieces of paper beautifully marked for five dollars, which I will sell to him at 50, 70, 90 or even 99 per cent. discountfive dollars for the "five penny piece" he speaks of.

We have not yet said any thing about the loss of reputation which is sustained to the United States, by such conduct. If privateering goes on much further, and continues to progress in atrocity as it has done for the past year, we must expect a considerable reduction of the high estimation in which we are hekl by the enlightened world, for our liberality and love of justice. Still, the fact is-it is difficult wholly to restrain those things, and fix a line beyond which our people shall not pass. They eertainly, have a right to enter the patriot service, The real value of gold or silver is less than that of or lend their money to the cause of liberty in South iron; but all the civilized nations, with some that are America; but then, they should do it under direct rude and nearly uncultivated, have accepted these and indisputable authority from the independent go- metals as standards of value, because of their scarcivernments, and consider themselves as alienated city, for they have not any intrinsic value in themfrom their on; and the fitting-out of vessels in our selves. And, notwithstanding this generally ascribed ports, for either party, except for bona fide sales to value, the worth of the precious metals fluctuates the citizens or subjects thereof, should not be coun- considerably, less however than almost any thing tenanced any longer. The government has endea-else except the worth of labor, as applied to provored to prevent this-but public opinion must duce something desirable; and this too, is affected come in to aid the government to give efficiency to by various circumstances and contingencies, though the laws, or the laws will continue to be evaded. the original and most permanent standard of value, It ought to be added-that the independent go-and still in use by a large majority of the population vernments by no means sanction the piracies which of the earth. Polished nations, finding the exchange we reprehend; and perhaps, since privateering be- of labor inconvenient, have fixed upon gold and silgan, no vessels nave been managed with more pro-ver as the best substitute to regulate commerce priety than such as have been regularly commission-between man and man; and, on these metals for a ed, at Buenos Ayres, and most places in Venezuela. foundation, others have issued bank notes and

Cash queer Calculation.

a

stocks, and various other kinds of paper money, all which are very useful when wholesomely restrained: but this can be done only by securing its redemption A writer in the National Intelligencer, who has in gold and silver, the common test of value, on delong labored under the signature of "Homo," to bless mand, or at such periods, and in such manner as may the people of the United States with a PAPER CUR-be voluntarily agreed upon between the parties. The RENCY, such as they are blessed with in England, in time has been that two guineas in gold would buy Jate short note to the editors, saysthree one pound notes of the great bank of England, and 75 dollars in silver purchase 100 in treasury notes of the United States, bearing interest at 6 per cent. though the dollars in silver, lying idle, would not produce any interest at all. Why was this?-because faith was given to one as the most steady representative of value, whereas that of the others was local, and might be annihilated by untoward events in the countries which they belonged to.

"The statement of gold and silver coinage in Mexico, for the last eight years, being 64,000,000, gives an average of 8,000,000 dollars per annum. Supposing the population of the world to be 800 millions, it gives the sixth of what we call a five-penny piece,

*Circumstances_similar to the following, frequently occur "The patriot brig La Irresistible zas risen upon by her crew, assisted by those of the brig Criole, in the port of Margueretta; taking advantage of the absence of the officers, they got her under way, appointed officers among themselves, and went

out to cruise on their own account.

Except a few destructive merchants and traders. to China and the East Indies, &c. whose business ought to be annihilated, there are few persons in the United States that want much specie-but every man sees it is the only thing that can balance, or con[By a proclamation of gen. Arismendi, outlawing troul issues of paper. We have had melancholy the Irresistible and her crew, it subsequently ap-proof of this, at the sacrifice of millions on millions pears, that though the crew of the privateer La Criole, joined in the mutiny and chiefly went off in the Irresistible, that the vessel was saved from them.]

of dollars, by the industrious poor, to pamper the pride and glut the inordinate appetites of specu lating scoundrels. I use these words deliberately:notwithstanding all the shavings, quirkings, twistings

and frauds which the people are generally acquaint-formed men,that neither this bank,nor any one out of ed with, I feel authorized to say, that the history of ten others paying their debts with money, can safely modern banking, particularly in the middle and west- and honestly divide more than six per cent. per anern sections of the United States, is as yet but very num, for a long time to come, unless there is some imperfectly known. The imagination of an honest great change in the commercial relations of the man can hardly conceive the stupendous villainies world. Any thing, therefore, like the preceding that have been contrived, and which must, and will, communication, ought to be severely reprehended forever exist in every country where paper can be as if intended wilfully to deceive the public. forced upon the people in lieu of money. What is here said will be severely recollected in a year or two, if the present wholesome purgation of the system is suffered to go on unimpeded; and some exposures will probably be made that will half frighten many people out of their wits. If the writer hereof could tell what he knows, there is no one would say that this picture is too highly colored: private honor and his pledge as a gentleman, yet forbids and may forever conceal, several things which, if they had been received without that pledge, would have been published. Expediency too, the vile doctrine of expediency, may have some effect in certain cases-and a question might arise, whether in our present state we are able to bear the truth? It is reformation that we have always aimed at a retire ment from the waste and extravagance of the paper age, to the economy and simplicity of honest times.

Col. R. M. Johnson would not vote on the bank questions before congress, because as the assignee of James Prentice, for the benefit of col. James Johnson (his brother) a large amount of the stock Further, a Kentucky paper stood in his name. says-that "if the situation of Mr. Speaker Clay and col. R. M. Johnson, of this state, had allowed them to vote, their unqualified disapprobation would have been given to a repeal of the bank charter."

Semi-reciprocity. The British papers complain that many of the forged bank of England notes come from France. This may be a partial attempt to return the compliment of the British government, which officially caused the late paper currency of France to be forged, and sent off by waggon loads. The probability, however, is, that the forgers of English notes at Paris, are Englishmen.

But to return a moment to "Homo." His division of the 64 millions of dollars, coined at the Mexican mint, is so far fetched as almost to provoke ridicule. From the first step!-The legislature of Georgia He would teach us that this is the whole amount of in its last session, but by a small majority and after the value of the precious metals raised in the world a warm opposition, wisely resolved to establish a for the period stated, and intimates that each person new bank at a flourishing town called Darien. We on the globe should have a part of it!-He knows see in the"Darien Gazette, "a very respectable newsbetter than to believe that any one can receive such paper, that the subscriptions for this stock were lateideas. Three fourths of the population of the worldly made, and that some swindling, "business of sharp know nothing of the Mexican coinage, or of the pro-ers," or, as we politely call it, speculation, took duce of its mines new modelled, except as a solitary place at the beginning.-But, indeed, how can we matter of ornament, if they have ever seen or heard of expect any thing else in building up a new bank, in it at all; and three fourths, perhaps, of the remaining times like these! We will give a reward in a piece fourth have little, if any thing at all to do with it: of paper marked 5 or 10 dollars, on either of the and with the few who use it, it is a simple thing of following banks, to any person who will seriously astraffic, passing through a thousand hands, perform-sure us, that any new bank has been established in ing a thousand offices, and fixing the value upon a the United States within the last five years, free of thousand things in the course of a year. And here- speculation: to witin is its essentialu, and the exercise of an indispensable quality to keep speculation in check and protect honest men from oppression.

One year's practice of the principles set forth in the address of the Philadelphia society for the promotion of home industry, is worth more than all the schemes about money-making, from the time of Law's Mississippi fraud to the founding of the Owl Creek bank.

Banking Scraps.

Bank of the U. S. A short time ago the following silly article appeared in a Raleigh, N. C. paper, as a communication:

"United States bank.-The stock of this bank is again looking up; having passed the ordeal, no fears are now felt for its future prosperity -8125 per share, was offered in this city, for 50 shares a few days past, and refused sales."

Of the Merchants bank of Alexandria-of the German bank of Wooster, and two or three others in Ohio; of the Parkersburg and Saline banks, of Virginia; of several in Pennsylvania; of the bank of Somersett, or the Elkton bank, of Maryland; or, the privilege of selection from a large heap of trash which we unfortunately have on hand, consisting of counterfeit bank notes and bank notes counterfeit

ed.

A bill to incorporate the Exchange Bank at New York, was rejected in the senate of that state by the overwhelming majority of 12 votes. Good.

The Hoo Hoo Bank.-The Owl Creek Bank has given public notice, that, in order to counteract the injurious tendency of the United States branch banks in that state, it has thought proper to follow the example of the other state banks, and has therefore stopped payment of specie, and will probably "stay stopped," as the expression is, for some time. So says an Ohio paper.

We had hoped that the day of such things had gone by. Atthe very time that this puff was published at Raleigh, the price of the stock was quoted (and The Western Herald, a newspaper printed at Steuevery body knows what a stock broker's quotation benville, the intelligence and zeal of whose editor is!) at about 112. No sales were mentioned as hav-we have several times commended and always had ing taken place, at any price; and now, the nominal reason to respect, is headed thus-"The United value of this stock in the United States is only 104 States' bank-every thing! The sovereignty of the or 105; in London at 20 to 211-888 80 to 93 24! states-nothing.

We do not wish to say any thing more on this particular subject-it is agreed upon by all best in

At the close of some nervous remarks, he says
**Our opinion is, that if the U.S. bank is permitted

to tax us without our consent-to locate branches | such case, it shall give immediate notice thereof t among us without our consent-and said branches to such receivers and others who usually deposite pub be free from taxation for state purposes-we had lic monies in it; and the notes of any such bank, better, instead of calling a convention to amend our which may have been received by them before such constitution, call a convention to offer it up, uncon-notice, shall nevertheless, be taken by the "Farmditionally, to the general goverument, and return to ers' and Mechanics' bank," as cash. the territorial grade."

2. That the bank shall pay, at sight, all drafts which the treasurer of the U, States may draw on it; As it should be. The legislature of Pennsylvania and shall from time to time, transfer to the bank of has passed an act annulling the charter of any bank the United States or its branches (in such monies as (except for the purpose of immediately closing the will be received by it as cash) the excess of public concerns of the institution) that shall refuse to pay monies remaining on deposite after such drafts are its notes in the legal coin of the United States. The paid, over and above the sum of $100,000; which process to be by proclamation of the governor, ex- sum of $100,000 shall remain on deposite in said cept in the case of brokers or others in the habit bank during the continuance of this arrangement, of buying the notes of such bank at a price below and shall be transferred in like manner within six their nominal value: and if after such proclamation months after the said bank shall cease to be employany bank shall issue its own notes, grant any new ed to receive the public monies. It is agreed, howloan or declare a dividend of profits, every person ever, that if the amount received by the bank shall be consenting thereto shall be liable each in his indivi- so large, as that the expense of remittance shall exdual capacity. There is also a provision for the re-ceed the benefit of the deposite, the sum which is to covery of interest on a note not paid, on demand, by remain on deposite in that bank shall be proportionally increased. any person, after the fist of August next.

We are thus happily retiring from the madness of paper-money-making-and trust, that in a reasonable time, we shall get back to a wholesome currency.

3. That the bank shall render to the secretary of the treasury and to the treasurer of the United States, duplicate monthly returns of its account with the treasurer; and shall, also, render to the secretary of the treasury monthly returns of the state of its The legislature of Pennsylvania has passed a re-affairs; which latter returns will be considered consolution to amend the constitution of the United States, so as to forbid the establishment of a bank by congress, except in the district of Columbia.

Retiring banks. Far be it from us to believe that a majority of the persons who latterly engaged in the making of banks are dishonest-though we must believe, that, as a general rule, the chief promoters of them were-speculators. We see evidences of the honesty which we hoped existed, in the resolutions of the stockholders of several banks to close the concerns of their institutions and dissolve their

associations.

fidential. In these latter returns will, also, be noticed the sums standing to the credit of any public officer or agent.

If those conditions are accepted by the bank, it will immediately give notice of its acceptance to the secretary of the treasury; and the receivers of public monies at - authorised, upon receiving from the bank an official copy of such notice, to make deposites in the Farmers and Mechanics' bank of Cincinnati: provided, however, that the said bank shall previously have resumed specie payments, and shall have given notice thereof in the Cincinnati newspapers.

Treasury department, 5th March, 1819.

The banks referred to in the first article of the foregoing articles are:

Bank of Wilmington and Brandywine. A numerous meeting of the stockholders of the above bank, was held at Wilmington, Del. on the 5th inst. and a Bank of Cincinnati, the Miami Exporting Comcommittee of six stockholders appointed, in con-pany, Lebanon Miami Banking Company, Dayton junction with the board of directors, to examine the Manufacturing Company, Urbana Banking Compaaffairs of the institution, and to report to an adjourn-ny, Bank of Chillicothe, Franklin Bank of Columbus, ed meeting on the 10th May next, "whether it will Lancaster Ohio Bank, Bank of Marietta, Belmont be most consistent with the public good and the in- Bank of St. Clairsville, Bank of Steubenville, Westterest of the stockholders to close the affairs of the ern Reserve Bank, Bank of Kentucky, and its bank, or to take measures for restoring its credit."branches, Farmers and Mechanics' Bank,Lexington, Bank of Georgetown, Ky.Newport Bank,Ky. Branch Farmers and Mechanics' Bank of Indiana, at Laurenceburgh, Indiana.

WESTERN BANKS.

A Cincinnati paper of the 23d ult. gives us the following, as an arrangement of the treasury of the United States, to relieve the pressure upon certain focal banks, and thereby, also secure the collection of monies due the United States, for lands sold, &c. It is considered as very beneficial to the people of Ohio.

The bank will extend this list in proportion as it can do it with safety.

An arrangement, on the same principles, has been made with the bank of Steubenville, and, we believe, with that of Chillicothe. The Steubenville He. wil-rald says-"The receivers of public monies in Steubenville and Wooster, are instructed by the bank of Steubenville to receive, as cash, notes of the U. States bank and branches, Bank of Steubenville,

Conditions on which the secretary of the treasury is
ling to employ the Farmers' and Mechanics' bank
at Cincinnati, as a depository of public monies.
1. The bank will receive from the receivers of
public monies, and others having monies to pay on
account of treasury of the United States, the notes
of the banks, a list of which has been deposited in
the office of the secretary of the treasury by the
cashier of that bank, and credit the same to the trea-
surer of the United States as cash. The bank may,
however, discontinue the notes of any of the said

Farmers' & Mechanics' bank of Steubenville,
Bank of Pittsburgh,

Banks of New York city, Philadelphia, and Bal-
timore (except the Marine bank.*)

*Probably, on account of the great body of coun

banks whenever it may deem it necessary; but interfeits on this bank, which are circulated through

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Jackson:

now appears, that the correspondence, from that im pression, has found its way into several of the public papers, I confess, that a circulation has thusbeen given to it, much greater than was expected or intended. The printed copies, which have fallerunder my observation, are, however, with the exception of certain typographical errors, correct.

My present objects are to disavow the printing of the correspondence, and to recal the word "garbled," twice used in the address "To the Public."Have the goodness to append hereto, the letter and extract of a letter on which the charge and the recantation are respectively predicated,

I remain, Messrs. Editors, your most obdt.
WINFIELD SCOTT.

April 9th, 1819.

I will barely add, that although the first letter apTo the public. Gen. Scott, of the army of the U. peared to have been cautiously written, I should imStates, having, in a letter of the 2d Jan. 1818, to mediately have desired my correspondent to re-exa, gen. Jackson, insinuated that I had written, dictated mine the subject, but that I had reason to suppose, or instigated an anonymous letter to the latter gen- from himself, that he had left New York soon after tleman, from unworthy motives, and for improper the date of his letter.-The above retraction is vopurposes; and having also concealed this imputation luntarily and cheerfully made. from me, until the publication of a pamphlet which reached me on the 4th instant, I have considered it proper to declare, that I have had no agency or participation in writing, dictating or instigating any anonymous letter whatever to general Jacksonthat I am entirely ignorant of the author--and that the intimation of general Scott is totally and unquaDear general—I trust that you will excuse me lifiedly false, to all intents, and in all respects. This declaration is made from motives of respect for pub- for troubling you on this occasion, but I considered lic opinion, and not from any regard for gen. Scott, that you might be ignorant of the circumstances I whose conduct, on this occasion, is such a total de-am about to mention, and perhaps they may be some, parture from honor and propriety, as to render him what important. unworthy of the notice of a man who has any respect for himself.

Copy of a letter addressed to major general Scott, dated

at New-York, March 2d, 1819.

General Jackson, during his late visit to this place, was at some trouble to cause to be widely distribut ed his correspondence with you. He left with a It is not probable that I can at this time have any gentleman (late a lieutenant colonel in the army) a recollection of having had the honor of seeing gen. copy-say of the anonymous letter, his letter to you, Scott, on 9th of June, 1817, at a dinner in N. York, or your reply, and his rejoinder, all certified by his A. of the topics of conversation as he suggests: circum-D. C. This late lieutenant colonel has even, in constances so unimportant are not apt to be impressed versation, proposed, that it should be published; but on the memory. But I feel a confident persuasion, have understood that general Jackson was averse that I did not make use of any expressions incom- from this-but had no objection that it should be cirpatible with the high respect which I entertain for DE WITT CLINTON. gen. Jackson.

Albany, 6th April, 1819.

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This transaction, perhaps, makes no impression on your friends, which is at all disadvantageous; but By referring to the statement published in our, in common with others, have conceived, that it is last, it seems to be implied by gen. Scott, as if he malevolent in intention, and that the efforts of mahad only on one occasion expressed an opinion of ny here will be exerted to support its mischievous gen. Jackson's order. The New York Columbian spirit. If you are not already informed of this, some says that gen. Scott has "a most treacherous memo-advantage may be reaped from knowing, that all ry-his inculpations of gen. Jackson were almost as this has been done with feelings and intentions full public in this city, as his intentions of defacing our of animosity towards you. battery-he was open and explicit in expressing these opinions," &c.

The Richmond Compiler of the 10th inst. contains the following letter, addressed to the editors.

GENTLEMEN-On the 18th ultimo, I commenced multiplying manuscript copies, with notes, &c. of the correspondence into which I was accidentally drawn in 1817, with major general Jackson, intending to have made out some twenty copies in that shape, for the public. Before I had accomplished that intention, some friend, no doubt, availed himself of one of the first copies put into circulation, and caused it to be printed in a pamphlet form; and it

the western country. The bank is as good as any other in Baltimore, and has very properly changed, its plates, though the counterfeit notes are easily detected, by those acquainted with the genuine

ones.

ED. REC.

I hope, that you will excuse any thing which may appear intermeddling or forward, as no one, dea" general, can be more devotedly your friend and well-wisher, than, &c. &c.

Extract of a letter addressed to maior general Scott, dated New York, April 5th, 1819.

"On one point of the subject, I discover, with mortification, that I have misled you: In mine of the second of March, I made, it is true, a particular reference to the letters, copies of which were circu lated in M S. here. My accidental omission of the last of the series, has induced you to suppose, that the agents of general Jackson had suppressed it. For this I am very sorry, and to atone to my own feelings, must state explicitly, that the whole serica was included in the manuscript circulated here, and were true copies, I believe, of those now in print, with the certificate, in the commmon form of capt. Call, an A. D. C."

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Philadelphia, March 7. The Philadelphia society for the promotion of domestic industry, respectfully solicit your attention to a few brief essays, on topics of vital importance to your country, yourselves, and posterity. They shall be addressed to your reason and understanding, without any attempt to bias your feelings by declamation.

We

In this arduous undertaking, we request a patient and candid hearing from our fellow citizens. have the consolation of having endeavored to disfondly hope for success: but if disappointed, we shall charge a duty every good citizen owes to the country which protects him-the duty of contributing his efforts to advance its interests and happiness. utter fallacy of two maxims, supported by the autho As a preliminary step, we propose to establish the rity of the name of Adam Smith, but pregnant with certain ruin to any nation by which they may be car. ried into operation.

tion of a large portion of Christendom, as the DelThis writer stands as pre-eminent in the estima

The subject discussed in these essays, will be political economy, which, in its broad and liberal sense, may be fairly styled the science of promoting hu-phic Oracle of political economy, and there is such a magic in his name, that it requires great hardihood man happiness; than which a more noble subject to question any thing that he asserts or assumes; and cannot occupy the attention of men endowed with high degree of good fortune to obtain a fair and pa liberal minds, or inspired by public spirit. tient hearing for the discussion.

writers,

It is happily, nevertheless, true, that the leading principles of the science which safely conduct to the most important and beneficent results, that are its ultimate object, are plain and clear: and require, to be distinctly comprehended and faithfully carried into effect, no higher endowments than good sound sense,

a

It is to be regretted, that this important science has not had adequate attention bestowed on it in the zens will scorn to surrender their reason into the But at this enlightened period, we trust our citiU. States. And, unfortunately, so many contradictory systems are in existence, that statesmen and le- guidance or guardianship of any authority whatever. When a position is presented to the mind, the quesgislators, disposed to discharge their duty consciention ought to be, not who delivered it, but what is tiously, and for that purpose, to study the books on the nature of the subject, and how is it supported this subject, are liable to be confused and distracted by the unceasing discordance in the views of the by reason and common sense, and especially by fact. A theory, how plausible soever, and however proped up by a bread-roll of great names, ought to be regarded with suspicion, if unsupported by fact--but if contrary to established fact, it ought to be unhesiThis course of procedure is tatingly, received. strongly recommended by the decisive fact, that in ories on morals, religion, politics, or science, which the long catalogue of wild, ridiculous, and absurd thehave had their reign among mankind, there is hardIt is a melancholy feature in human affairs, that ly one that has not reckoned among its partisans imprudence and error often produce as copious a men of the highest celebrity. And in the present harvest of wretchedness as absolute wickedness. Hence arises an indisputable conviction of the impe-testimony against many received doctrines of this instance, the most cogent and conclusive facts bear rious necessity, in a country where so many of our citizens may aspire to the characters of legislators Political economist, great as is his reputation. and statesmen, of a more general study of this sci-to this discussion, minds wholly liberated from the We hope, therefore, that our readers will bring ence, a thorough knowledge of which is so essen- fascination of the name of the writer whose opinions tial among the qualifications for those important sta-we undertake to combat, and a determination to weigh the evidence in the scales of reason, not those of prejudice.

and rectitude of intention.

tions.

To remove all doubt on this point, we shall adduce, in the course of these essays, various instances in which single errors of negociators and legislators have entailed much, and in many cases, more misery on nations, than the wild and destructive ambition of conquerors. Unless in some extraordinary instances, a sound policy on the restoration of peace, heals| the wounds inflicted by the war, and restores a nation to its pristine state of ease and comfort. But numerous cases are on record, wherein an article of a treaty, of ten or a dozen lines, or an impolitic or unjust law, has germinated into the most ruinous consequences for a century.

It is our intention in these essays

1. To review in detail the policy of those nations which have enjoyed a high degree of prosperity, with or without any extraordinary advantages from nature; and likewise of those whose prosperity has been blasted by fatuitous counsels, notwithstanding great natural blessings:

In order to render Dr. Smith full justice, and to length, in his own language. remove all ground for cavil, we state his positions at

the produce of domestic industry, in any particular "To give the monopoly of the home market to art or manufacture, is in some measure to direct Private people in what manner they ought to employ ther a useless or a hurtful regulation. If the domestic their capitals; and must, in almost all cases, be eiproduce can be brought there as cheap as that of foreign industry, the regulation is evidently useless. If it cannot, it must generally be hurtful.

It is the maxim of every prudent master of a

*Montesquieu, whose reputation was as great as that of Dr. Smith, and whose Spirit of Laws has had as extensive a currency as the Wealth of Nations, held the absurd idea, which remained uncontroverted for half a century, that the habits, man2. To examine the actual situation of our country, ners, customs, and even virtues and vices, of nations, in order to ascertain whether we enjoy the advanta- were in a great measure governed by climate; so ges to which our happy form of government and lo- that a tolerable idea might be formed of those imcal situation entitle us; and if we do not, to investi-portant features of national character by consulting gate the cause to which the failure is owing: maps, and ascertaining latitudes and longitudes!

3. To develope the true principles of political Bacon studied judicial astrology! All the great men economy, suited to our situation and circumstances, of his day believed in magic and witchcraft! Johnand calculated to produce the greatest sum of hap-son had full faith in the story of the Cock-lane ghost! piness throughout the wide expanse of our territory. So much for great names,

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