Of course each party adhered to its own view, which was a matter of very little consequence so long as Mr. Gallatin gained his point of fixing public attention upon the subject; his aim was to educate his own party and to plant his own principles deep in popular convictions. After the adjournment he wrote a book for this purpose called "A Sketch of the Finances of the United States," which was in fact a text-book, and answered its purpose admirably. In two hundred pages, with a few tabular statements appended, he discussed the revenues, expenditures, and debt of the United States with his usual clearness, and, while avoiding all apparent party feeling, he freely criticised the financial measures of the government. The duty of preventing increase of debt, of discharging the principal as soon as possible, was the foundation of the work; criticisms of the cases in which the burden had been unnecessarily increased were interwoven in the statement, which concluded with suggestions of additional sources of revenue.[35] Thus already in the first year of his Congressional service Mr. Gallatin had sketched out and begun to infuse into his party those financial schemes and theories that were ultimately to be realized when they came into power. That these ideas, as forming a single complete body of finance, were essentially new, has already been remarked. In theory Mr. Hamilton also was in favor of discharging the debt, and originated the machinery for doing so; that is to say, he originated the sinking fund machinery, or rather borrowed it from Mr. Pitt, although this financial juggle has now become, both in England and America, a monument of folly rather than of wisdom; while a much more effectual step was taken in the last year of his service, when he recommended the conversion of the six per cents. into an eight per cent. annuity for twenty-three years, which was equivalent to an annual appropriation of about $800,000 a year for the payment of the principal. This, however, was not the real point of difference between the systems of Mr. Gallatin and Mr. Hamilton. Laying entirely aside the general proposition that the Hamiltonian Federalists considered a national debt as in itself a desirable institution, and conceding that the Federalists would themselves have ultimately reduced or discharged it, there still remains the fact that the Federalists made the debt a subordinate, Mr. Gallatin made it a paramount, consideration in politics. The one believed that if debt was not a positive good, it was a far smaller evil than the growth of French democracy; the other, that debt was the most potent source of all political evils and the most active centre of every social corruption. The Hamiltonian doctrine was that the United States should be a strong government, ready and able to maintain its dignity abroad and its authority at home by arms. Mr. Gallatin maintained that its dignity would protect itself if its