Of the essays in favour of manufactures which have been published, it may be observed generally, that they recommend the adoption of higher import duties. That these have not been resorted to, need excite no surprise, as the secretary of the treasury has shown that an increase of duties must be followed by a decrease of national revenue, {245} and as the ultimate substitute, internal taxation, would probably be unpopular, although imposed with the most sparing hand. The spontaneous decrease in the amount of money capital now going on, does not seem to be duly appreciated;--an occurrence that is evidently well calculated to give an impulse to American industry. When the United States shall abandon the spurious money now in circulation, and proceed on a smaller but more substantial capital, a new era of national prosperity will commence. The government will be freed from the danger, or rather the certainty, of losing the revenue by a smuggled trade, and will feel less necessity for resorting to restrictive regulations. A less sum of money will be sufficient to defray the public expenses. The consequent cheapness of labour will give the agriculturist new advantages in foreign markets, and develop in a new degree the natural resources of the country. The home market, occasioned by a manufacturing population, will be secure, as being beyond the reach of foreign governments, whose caprice is hostile to the security of American trade. Whenever the country shall be able to manufacture the whole, or the greater part of its necessaries, the exports of produce must be attended with an importation of specie. The ingress of foreign capitalists may also be calculated on as one of the effects to be produced by the change of system. The introduction of manufactures must promote internal improvements, as the making of roads and the construction of works, for facilitating inland navigation. The country will be rendered capable of supporting a greater population than it can under the present system, thereby removing much of the inconvenience that attends their present settlements; {246} better opportunities for mental improvement, and the means of more prompt national defence, will be acquired; foreign commerce and foreign relations will be abridged, so that the hazard of hostilities with other countries may be greatly lessened. A small shipping trade evidently requires less naval protection than an extensive foreign commerce, and the retrenchment may perhaps admit of some relaxation in the present construction of ships of war. The reverses so frequently injurious to the manufacturers of Britain are less to be dreaded in the United States. While their manufactures do not exceed their own wants, it will always be practicable to prevent the home market from being overstocked, and while the vacant back woods are held in reserve, a manufacturing population need not be reduced to pauperism by the want of a foreign market for their fabrics.