Daily National Intelligencer

SENTIMENTS OF THE REVOLUTION,

An obliging friend has favored us with the perusal of a letter written by one of the most eminent characters of the revolution, and has permitted us to make the subjoined extract for publication. The writer's sentiments in regard to commerce, or rather the carrying trade, although once unpopular, we have been taught by the experience of the past and present day, point to the true policy of our country. His views of the pernicious influence of banks are forcible and correct. Indeed, we do not remember to have seen more good sense embodied in so small a compass than we find in this short extract. Every sentence is a text, deserving the highest consideration: and worthy to be reiterated monthly by every journal in our country.

Mer. Adv.

Extract of a letter from a distinguished revolutionary patriot, to his friend in this state, written in the current month.

"I hope with you that the policy of our country will settle down with as much navigation and commerce only, as our exchanges will require, and that the disadvantage will be seen of our undertaking to carry on that of other nations. This indeed may bring gain to a few individuals and enable them to call off from our farms more laborers, to be converted into lacquies and grooms for them; but it will bring nothing to our country but wars, debt, and dilapidation. This has been the course of England, and her examples have fearful influence on us. In copying her, we do not seem to consider, that like premises induce like consequences. The bank mania is one of the most threatening of these imitations; it is raising up a monied aristocracy in our country, which has already set the government at defiance, and, although forced at length to yield a little on this first essay of their strength, their principles are unyielded and unyielding. These have taken deep root in the hearts of that class from which our legislatures are drawn, and the sop to Cerberus, from fable, has become history. Their principles lay hold of the good, their pelf of the bad; and thus those whom the constitution had placed as guards to its portals, are sophisticated or suborned from their duties. That paper money has some advantages is admitted; but that its abuses also are inevitable, and, by breaking up the measure of value, makes a lottery of all private property, cannot be denied. Shall we ever be able to put a constitutional veto on it?"