The doctrine of taxation is a very important one, and nothing requires more wisdom and prudence than the regulation of that portion, which is taken from, and of that which is left to the subject—and if you anticipate what will be the enormous expense of this new government added also to your own, little will that portion be which will be left to you. I know there are politicians who believe that you should be loaded with taxes, in order to make you industrious, and, perhaps, there are some of this opinion in the convention, but it is an erroneous principle. For, what can inspire you with industry, if the greatest measure of your labors are to be swallowed up in taxes? The advocates for this new system hold out an idea, that you will have but little to pay, for that the revenues will be so managed as to be almost wholly drawn from the source of trade or duties on imports, but this is delusive—for this government to discharge all its incidental expenses, besides paying the interest on the home and foreign debts, will require more money than its commerce can afford; and if you reflect one moment, you will find, that if heavy duties are laid on merchandise, as must be the case if government intends to make this the prime medium to lighten the people of taxes, that the price of the commodities, useful as well as luxurious, must be increased; the consumers will be fewer; the merchants must import less; trade will languish, and this source of revenue in a great measure be dried up; but if you examine this a little further you will find that this revenue, managed in this way, will come out of you, and be a very heavy and ruinous one, at least. The merchant no more than advances the money for you to the public and will not, nor cannot pay any part of it himself; and if he pays more duties, he will sell his commodities at a price portionably raised. Thus the laborer, mechanic, and farmer must feel it in the purchase of their utensils and clothing—wages, etc., must rise with the price of things or they must be ruined; and that must be the case with the farmer, whose produce will not increase, in the ratio, with labor, utensils and clothing; for that he must sell at the usual price or lower perhaps, caused by the decrease of trade; the consequence will be that he must mortgage his farm, and then comes inevitable bankruptcy.