Presidents -- United States -- Biography; Washington, George, 1732-1799
Two matters connected with the treasury, I have said, deserved
fuller consideration than a general review could give. The one just
described, the policy of the Report on Manufactures, came, as has been
seen, to no clear and immediate result. The other reached a very
sharp and definite conclusion, not without great effect on the new
government of the United States, both at the moment and in the future.
When Hamilton "struck the rock of the national resources," the stream
of revenue which he sought at the outset was that flowing from duties
on imports, for this, in his theory, was not only the first source,
but the best. He would fain have had it the only one; but the
situation drove him forward. The assumption of the state debts, a
part of the legacy of the Revolution, and the continuing and at first
increasing expenses of unavoidable Indian wars, made additional
revenue absolutely essential. He turned therefore to the excise on
domestic spirits to furnish what was needed.
Washington approved assumption. It was a measure of honesty, it would
raise the public credit, and above all, it was thoroughly national in
its operation and results. The appropriations for Indian wars he of
course approved, for their energetic prosecution was part of the
vigorous policy toward our wild neighbors upon which he was so
determined. It followed, of course, that he did not shrink from
imposing the taxes thus made necessary; and to raise the money from
domestic spirits seemed to him, under the existing exigency, to be
what it was,--thoroughly proper and reasonable both in form and
subject.
Public-domain text, read in full here on John Shaqi.
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