[Footnote 13: These were the banks of New York, Boston, Philadelphia, and Baltimore. Seven presidents formed the committee. John A. Stevens of New York was chairman, by request of the Secretary of the Treasury. The other members were named by him. The sum advanced to the government was one hundred and fifty millions of dollars in coin.] [Footnote 14: At Portland, $120,000; Salem, $183,600; Boston, $75,300; Providence, $67,800; Richmond, $49,000; Norfolk, $103,000; Charleston, $354,000.] [Footnote 15: Report of Secretary Dallas, September 20, 1816.] [Footnote 16: Act of March 3, 1817.] [Footnote 17: _Democratic Review_, xii. 641.] [Footnote 18: Chairman of the Committee of Ways and Means.] CHAPTER VII IN THE CABINET The general principles which Mr. Jefferson proposed to apply in his conduct of the government were not principles of organization but of administration. The establishments devised by Hamilton, in accordance with or in development of the provisions of the Constitution, were organic. The new policy was essentially restrictive and economic. The military and naval establishments were to be kept at their lowest possible limit. The Treasury Department was to be conducted on strictly business principles. The debt was to be reduced and finally paid by a fixed annual appropriation. The revenue was to be raised by imposts on importation and tonnage, and by direct taxation, if necessary. The public land system was to be developed. A scheme of internal improvements by land and water highways was to be devised. All these purposes except the last had been declared by the opposition during the last part of Washington's second term and during Adams's presidency, and had been lucidly expounded by Madison, Gallatin, Giles, Nicholas, and others of the Republican leaders. On all these subjects Mr. Gallatin was in accord with his chief. Only upon the bank question were they at issue. Mr. Jefferson detested or feared the aristocracy of money, while Gallatin, with a clearer insight into commercial and financial questions, recognized that in a young country where capital was limited, and specie in still greater disproportion to the increasing demands of trade, a well-ordered, well-managed money institution was an enormous advantage, if not an imperative necessity to the government and the people.