The Writings of Thomas Jefferson, Vol. 3 (of 9): Being His Autobiography, Correspondence, Reports, Messages, Addresses, and Other Writings, Official and PrivateJefferson, Thomas
History
The Writings of Thomas Jefferson, Vol. 3 (of 9): Being His Autobiography, Correspondence, Reports, Messages, Addresses, and Other Writings, Official and Private
Jefferson, Thomas
United States -- Politics and government -- 1775-1783; United States -- Politics and government -- 1783-1865
The papers which I send Mr. Randolph weekly, and which I presume you see,
will have shown you what a dust Paine's pamphlet has kicked up here. My
last to Mr. Randolph will have given an explanation as to myself, which
I had not time to give when I sent you the pamphlet. A writer, under the
name of Publicola, in attacking all Paine's principles, is very desirous
of involving me in the same censure with the author. I certainly merit
the same, for I profess the same principles; but it is equally certain I
never meant to have entered as a volunteer into the cause. My occupations
do not permit it. Some persons here are insinuating that I am Brutus, that
I am Agricola, that I am Philodemus, &c., &c. I am none of them, being
decided not to write a word on the subject, unless any printed imputation
should call for a printed disavowal, to which I should put my name. A
Boston paper has declared that Mr. Adams "has no more concern in the
publication of the writings of Publicola, than the author of the Rights
of Man himself." If the equivoque here were not intended, the disavowal
is not entirely credited, because not from Mr. Adams himself, and because
the style and sentiments raise so strong a presumption. Besides, to
produce any effect he must disavow Davila and the Defence of the American
Constitutions. A host of writers have risen in favor of Paine, and prove
that in this quarter, at least, the spirit of republicanism is sound.
The contrary spirit of the high officers of government is more understood
than I expected. Colonel Hamilton avowing that he never made a secret of
his principles, yet taxes the imprudence of Mr. Adams in having stirred
the question, and agrees that "his business is done." Jay, covering the
same principles under the veil of silence, is rising steadily on the
ruins of his friends. The bank filled and overflowed in the moment it
was opened. Instead of twenty thousand shares, twenty-four thousand were
offered, and a great many unpresented, who had not suspected that so
much haste was necessary. Thus it is that we shall be paying thirteen
per cent. per annum for eight millions of paper money, instead of having
that circulation of gold and silver for nothing. Experience has proved to
us that a dollar of silver disappears for every dollar of paper emitted;
and, for the paper emitted from the bank, seven per cent. profits will
be received by the subscribers for it as bank paper, (according to the
last division of profits by the Philadelphia bank,) and six per cent.
on the public paper of which it is the representative. Nor is there any
reason to believe, that either the six millions of paper, or the two
millions of specie deposited, will not be suffered to be withdrawn, and
the paper thrown into circulation. The cash deposited by strangers for
safe keeping will probably suffice for cash demands. Very few subscribers
have offered from Virginia or North Carolina, which gives uneasiness to
H.
Public-domain text, read in full here on John Shaqi.
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