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For the first year or two of the war, we were shut up within our ports, scarce venturing to look towards the ocean. Now our rivers are beautified with large and valuable vessels, our stores filled with merchandise, and the produce of the country has a ready market, and an advantageous price. Gold and silver, that for a while seemed to have retreated again within the bowels of the earth, have once more risen into circulation, and every day adds new strength to trade, commerce and agriculture. In a pamphlet, written by Sir John Dalrymple, and dispersed in America in the year 1775, he asserted that two twenty-gun ships, nay, says he, tenders of those ships, stationed between Albermarle sound and Chesapeake bay, would shut up the trade of America for 600 miles. How little did Sir John Dalrymple know of the abilities of America!

While under the government of Britain, the trade of this country was loaded with restrictions. It was only a few foreign ports which we were allowed to sail to. Now it is otherwise; and allowing that the quantity of trade is but half what it was before the war, the case must show the vast advantage of an open trade, because the present quantity under her restrictions could not support itself; from which I infer, that if half the quantity without the restrictions can bear itself up nearly, if not quite, as well as the whole when subject to them, how prosperous must the condition of America be when the whole shall return open with all the world. By the trade I do not mean the employment of a merchant only, but the whole interest and business of the country taken collectively.

It is not so much my intention, by this publication, to propose particular plans for raising money, as it is to show the necessity and the advantages to be derived from it. My principal design is to form the disposition of the people to the measures which I am fully persuaded it is their interest and duty to adopt, and which need no other force to accomplish them than the force of being felt. But as every hint may be useful, I shall throw out a sketch, and leave others to make such improvements upon it as to them may appear reasonable.

The annual sum wanted is two millions, and the average rate in which it falls, is thirteen shillings and fourpence per head.

Suppose, then, that we raise half the sum and sixty thousand pounds over. The average rate thereof will be seven shillings per head.

In this case we shall have half the supply that we want, and an annual fund of sixty thousand pounds whereon to borrow the other million; because sixty thousand pounds is the interest of a million at six percent; and if at the end of another year we should be obliged, by the continuance of the war, to borrow another million, the taxes will be increased to seven shillings and sixpence; and thus for every million borrowed, an additional tax, equal to sixpence per head, must be levied.

The sum to be raised next year will be one million and sixty thousand pounds: one half of which I would propose should be raised by duties on imported goods, and prize goods, and the other half by a tax on landed property and houses, or such other means as each state may devise.

But as the duties on imports and prize goods must be the same in all the states, therefore the rate percent, or what other form the duty shall be laid, must be ascertained and regulated by Congress, and ingrafted in that form into the law of each state; and the monies arising therefrom carried into the treasury of each state. The duties to be paid in gold or silver.

There are many reasons why a duty on imports is the most convenient duty or tax that can be collected; one of which is, because the whole is payable in a few places in a country, and it likewise operates with the greatest ease and equality, because as everyone pays in proportion to what he consumes, so people in general consume in proportion to what they can afford; and therefore the tax is regulated by the abilities which every man supposes himself to have, or in other words, every man becomes his own assessor, and pays by a little at a time, when it suits him to buy. Besides, it is a tax which people may pay or let alone by not consuming the articles; and though the alternative may have no influence on their conduct, the power of choosing is an agreeable thing to the mind. For my own part, it would be a satisfaction to me was there a duty on all sorts of liquors during the war, as in my idea of things it would be an addition to the pleasures of society to know, that when the health of the army goes round, a few drops, from every glass becomes theirs. How often have I heard an emphatical wish, almost accompanied by a tear, “Oh, that our poor fellows in the field had some of this!” Why then need we suffer under a fruitless sympathy, when there is a way to enjoy both the wish and the entertainment at once.

But the great national policy of putting a duty upon imports is, that it either keeps the foreign trade in our own hands, or draws something for the defence of the country from every foreigner who participates in it with us.

Thus much for the first half of the taxes, and as each state will best devise means to raise the other half, I shall confine my remarks to the resources of this state.

The quota, then, of this state, of one million and sixty thousand pounds, will be one hundred and thirty-three thousand two hundred and fifty pounds, the half of which is sixty-six thousand six hundred and twenty-five pounds; and

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