To these purposes, in the words of Mr. Jefferson, all other objects were
made subordinate, and to carry these purposes into effect was the
peculiar task of Mr. Gallatin. No one else appears even to have been
thought of; no one else possessed any of the requisites for the place in
such a degree as made him even a possible rival. The whole political
situation dictated the selection of Mr. Gallatin for the Treasury as
distinctly as it did that of Mr. Jefferson for the Presidency.
But the condition on which alone the principles of the Republicans could
be carried out was that of peace. To use again Mr. Gallatin's own words,
written in 1835: "No nation can, any more than any individual, pay its
debts unless its annual receipts exceed its expenditures, and the two
necessary ingredients for that purpose, which are common to all nations,
are frugality and peace. The United States have enjoyed the last
blessing in a far greater degree than any of the great European powers.
And they have had another peculiar advantage, that of an unexampled
increase of population and corresponding wealth. We are indebted almost
exclusively for both to our geographical and internal situation, the
only share which any Administration or individual can claim being its
efforts to preserve peace and to check expenses either improper in
themselves or of subordinate importance to the payment of the public
debt. In that respect I may be entitled to some public credit, as nearly
the whole of my public life, from 1795, when I took my seat in Congress,
till 1812, when the war took place, was almost exclusively devoted with
entire singleness of purpose to those objects."[50]
Public-domain text, read in full here on John Shaqi.
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