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Editorial
May 26, 1810
Alexandria Daily Gazette, Commercial & Political
Alexandria, Virginia
What is this article about?
This Federalist editorial laments the empty US treasury due to Jefferson's embargo, mirroring bankruptcies in Russia and Denmark from Bonaparte's anti-trade system. It condemns Jefferson and Democrats for national dishonor and ruin.
OCR Quality
98%
Excellent
Full Text
More empty treasuries than ours.—The consequences of complying with Bonaparte's anti-commercial system, have been precisely similar on both sides of the Atlantic.—Russia has lately by an Ukase declared her treasury to be bankrupt. The miserable king of Denmark is worse than bankrupt. Whilst his own subjects will not trust him, he is compelled to mortgage his province of Holstein, and, we suppose, all our Tonningen property with it, to the Dutch to obtain supplies of money. According to late accounts, which the reader may peruse under the Salem head, Bonaparte is thought to be about to foreclose the mortgage by taking the property into his possession. In doing this, we wish more than we can hope, he may not, like a griping landlord, seize the moveables which do not belong to his debtor.
That our treasury is as empty as that of either Russia or Denmark, Mr. Gallatin has candidly informed us; and we know the drain has been occasioned by the same means which exhausted theirs, that is to say, the hand of Bonaparte has done it.—To all he dictated his system of living without trade. His agent, Jefferson, acquiesced and sent a message to congress for laying the embargo, & it was laid. But the scorn of an impartial world and the contempt of posterity will never forsake the authors of our dishonor and ruin. We envy them not the votes of democrats, or the honest and sincere among them will not very long be their dupes, and they are welcome to all the incense with which the tainted breath of faction can comfort them.
(Fed. Rep.)
That our treasury is as empty as that of either Russia or Denmark, Mr. Gallatin has candidly informed us; and we know the drain has been occasioned by the same means which exhausted theirs, that is to say, the hand of Bonaparte has done it.—To all he dictated his system of living without trade. His agent, Jefferson, acquiesced and sent a message to congress for laying the embargo, & it was laid. But the scorn of an impartial world and the contempt of posterity will never forsake the authors of our dishonor and ruin. We envy them not the votes of democrats, or the honest and sincere among them will not very long be their dupes, and they are welcome to all the incense with which the tainted breath of faction can comfort them.
(Fed. Rep.)
What sub-type of article is it?
Economic Policy
Foreign Affairs
Partisan Politics
What keywords are associated?
Bonaparte System
Us Embargo
Empty Treasury
Jefferson Criticism
Federalist View
Economic Ruin
What entities or persons were involved?
Bonaparte
Jefferson
Gallatin
King Of Denmark
Russia
Democrats
Editorial Details
Primary Topic
Economic Ruin From Bonaparte's Anti Trade System And Us Embargo
Stance / Tone
Strongly Critical Of Jefferson And Democrats
Key Figures
Bonaparte
Jefferson
Gallatin
King Of Denmark
Russia
Democrats
Key Arguments
Bonaparte's Anti Commercial System Causes Bankruptcy In Russia, Denmark, And Us
Jefferson As Bonaparte's Agent Imposed The Embargo
Embargo Drains Us Treasury Like In Europe
Authors Of Embargo Face World Scorn And Posterity's Contempt
Democrats' Support Is Temporary And Insincere