We
may abolish debts indeed; we may transfer property by visionary and
violent laws. But we deceive both ourselves and our constituents, if we
flatter either ourselves or them with the hope that there is any relief
against whatever pressure exists, but in economy and industry. The
depression of prices and the stagnation of business have been in truth
the necessary result of circumstances. No government could prevent them,
and no government can altogether relieve the people from their effect.
We have enjoyed a day of extraordinary prosperity; we had been neutral
while the world was at war, and had found a great demand for our
products, our navigation, and our labor. We had no right to expect that
that state of things would continue always. With the return of peace,
foreign nations would struggle for themselves, and enter into
competition with us in the great objects of pursuit.
Now, Sir, what is the remedy for existing evils? What is the course of
policy suited to our actual condition? Certainly it is not our wisdom to
adopt any system that may be offered to us, without examination, and in
the blind hope that whatever changes our condition may improve it. It is
better that we should
"bear those ills we have,
Than fly to others that we know not of."
We are bound to see that there is a fitness and an aptitude in whatever
measures may be recommended to relieve the evils that afflict us; and
before we adopt a system that professes to make great alterations, it is
our duty to look carefully to each leading interest of the community,
and see how it may probably be affected by our proposed legislation.
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