The reports of the secretary of the treasury having suggested the several steps which had been taken by congress in the system of internal taxation, he was justly considered as its author. The perseverance which marked the character of this officer, gave full assurance that no clamour would deter him from continuing to recommend measures which he believed to be essential to the due administration of the finances. That the establishment of public credit on a sound basis was all important to the character and prosperity of the United States, constituted one of those political maxims to which he invariably adhered; and to effect it completely, seems to have been among the first objects of his ambition. He had bestowed upon this favourite subject the most attentive consideration; and while the legislature was engaged in the discussions of a report made by a select committee on a resolution moved by Mr. Smith, of South Carolina, purporting that further provision ought to be made for the reduction of the debt, addressed a letter to the house of representatives, through their speaker, informing them that he had digested and prepared a plan on the basis of the actual revenues, for the further support of public credit, which he was ready to communicate. This comprehensive and valuable report presented the result of his laborious and useful investigations, on a subject equally intricate and interesting. This was the last official act of Colonel Hamilton. The penurious provision made for those who filled the high executive departments in the American government, excluded from a long continuance in office all those whose fortunes were moderate, and whose professional talents placed a decent independence within their reach. While slandered as the accumulator of thousands by illicit means, Colonel Hamilton had wasted in the public service great part of the property acquired by his previous labours, and had found himself compelled to decide on retiring from his political station. The accusations brought against him in the last session of the second congress had postponed the execution of this design, until opportunity should be afforded for a more full investigation of his official conduct; but he informed the President that, on the close of the session, to meet in December, 1793, he should resign his situation in the administration. The events which accumulated about that time, and which were, he said in a letter to the President, of a nature to render the continuance of peace in a considerable degree precarious, deferred his meditated retreat. "I do not perceive," he added, "that I could voluntarily quit my post at such a juncture, consistently with considerations either of duty or character; and therefore, I find myself reluctantly obliged to defer the offer of my resignation.