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Sign up freeNorfolk Gazette And Publick Ledger
Norfolk, Virginia
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Editorial from the Federal Republican defends Treasury Secretary Albert Gallatin against criticism from pro-war Democrats in Virginia papers for not fully developing national resources for war. It mocks demands to compel Gallatin to reveal assets like public lands worth $1 billion and contrasts his past influence with the current party's degraded leadership, highlighting their inferior financial ideas compared to Gallatin and Hamilton's efforts on the national debt.
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FINANCE.
Mr. Gallatin has so far displeased the warlike gentry as to have obtained their open and repeated censure in the Virginia papers. They are of opinion that he has not done his duty by omitting to develope the resources of the country for carrying on a war. Some Solly has discovered that at one dash of the pen he might have pointed out "a most notorious fact," that our publick lands are worth 1,000,000,000 or ten hundred millions of dollars!!! As they are afraid, that he will not make this communication of his own accord, they are for "compelling" him to turn every thing into dollars, like a silver Midas. No wonder, that this cautious and able financier is unwilling to throw away his reputation by pledging it upon all the follies, crudities and misstatements of a wretched set of outlaws from common sense. Mr. Gallatin will retire from office and leave them to the consequences of their own indiscretions. It seems however passing strange, that the opinion of Albert Gallatin, whose brilliant and solid talents, whose energy, perseverance and fortitude had, more than all the weight of Virginia accumulated, turned the scale in favour of democratick policy, should be so far hunted down as they are in the following extract from a ministerial oracle:
"Let Albert Gallatin be called upon and be compelled to lay before congress a complete develope-ment of the actual resources of the nation, without any speculations of his own."
Argus.
Time was when the pickings and the honours of this land were not given to the Smith's; when the doughty general was too happy in confining the range of his speculating to a small contractorship under government; in being the scarless defender of England and her commerce against commercial restrictions, and grateful for the concealment of his disgrace at Mud Fort; when a small lawyer never dreamt of being Secretary of State, but gave as another Shylock his early and nocturnal audiences to the tribe of two per cent. a month; when for the first and only time in Baltimore shaving and lathering were performed at one operation; when the present President of the United States shrunk, (as some of the democratick papers informed us in the spring of 1808) from the times that tried men's souls--then it was that the speculations of Mr. Gallatin were the unerring guide of the party, whose present disapprobation of them is the strongest proof of their degradation being near at hand. But it is a maxim deemed infallible in the political world, that great exigences produce great talents; and great talents we all know, naturally reproduce great discoveries. It is no wonder, therefore, that the democratick ship being ready to sink, should be found to contain among her crew wiser and more sagacious financiers than this nation ever before possessed, who have demonstrated, that the national debt in placing which in a train of gradual extinction, Hamilton spent the midnight oil, and in the fulfilment and improving of whose expedients the indefatigable and vigorous mind of Gallatin spent nine years without seeing the work accomplished--that the national debt is a mere dust in the balance compared with the productiveness of one branch of revenue at present inactive.
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Editorial Details
Primary Topic
Defense Of Gallatin's Financial Caution Against War Hawks
Stance / Tone
Supportive Of Gallatin, Satirical Criticism Of Democratic Leaders
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