The only charge which has ever been made against Gallatin's
administration was, that he reduced the debt at the expense of the
defenses and security of the country; but, to quote the words of one of
his biographers:[17] "Mr. Gallatin had the sagacity to know that it [the
redemption of the debt] would make but little difference in the degree
of preparation of national defense and means of contest, for which it is
impossible ever to obtain a considerable appropriation before the near
approach of the danger that may render them necessary. He knew that the
money thus well and wisely devoted to the payment of the debt was only
rescued from a thousand purposes of extravagance and mal-application to
which all our legislative bodies are so prone whenever they have control
of surplus funds." In our own day the irresistible temptations of a full
treasury need no labored demonstration. Friend and foe drop political
differences over the abundant fleshpot. The very thought of catering to
such appetites disgusted Gallatin. To Jefferson he frankly said, in
1809, that while he did not pretend to step out of his own sphere and to
control the internal management of other departments, yet he could not
"consent to act the part of a mere financier, to become a contriver of
taxes, a dealer of loans, a seeker of resources for the purpose of
supporting useless baubles, of increasing the number of idle and
dissipated members of the community, of fattening contractors, pursers,
and agents, and of introducing in all its ramifications that system of
patronage, corruption, and rottenness which you justly execrate."
RECEIPTS AND EXPENDITURES DURING MADISON'S ADMINISTRATION, FROM
ELLIOTT'S SYNOPTICAL EXHIBITS.
RECEIPTS.
Public-domain text, read in full here on John Shaqi.
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