[No. Cl.] THE TABLET. << £ r rer generally originates ■with the learned." NO person, who loves application, an<l poflefs es a good memory,'need despair of some at tainments in science. It requires no effort of ge nius to read or recollect what others have wrote, or to recite what others have discovered. But it Ms unfortunately happened that no fniatl pro p6rtion of learned men have been destitute of that degree of sagacity, which could render their acquirements ufeful to themselves or society. To a person void of penetration, no acquisitions of literature will be fufficient, to cbnltitute him a wife legiflatoror politician. The faculty of dis cerning good from evil ; truth from erroi-, is ve ry different from that kind of capacity which is competent to colledl science. They are indeed so \Videly different, that 1 can conceive the wisdom of a man may decline, in proportion as his learn ing encreafes. The main object of human en quiry's theinveftigation of truth.This can be rare ly discovered by those, who have not a clear con ception, and are not accustomed to close reflexi on. Where these requisites are wanting, it is ob vious that learning will not leflori the confufion, though it itiay add to the number of ideas. Per plexity of thought may result, either from a na tural defetfl of understanding, or from a careless habit of reading more, than one understands or digests. In the full cafe there is no remedy ;in the latter, the difficulty may perhaps be removed by reflecting more, and reading less. There are a tlioufand sources of error, to which men of great reading, and little difceriiment or reflection, are ;rfiinently e*pofed. They are more than other irien liable, from a credulity of temper,to imbibe the suggestions of folly, and to be ensnared by she tricks of knavery. They areoltner,than anj jlher men, beguiled from the truth, by the wile: )f sophistry, and the eharms of eloquence. Anc :hey are certainly less able, than other men, t( ■efift the temptation of offering projects, for th< 'aice of displaying their skill ; and of declarinj (pinions, for the fake of (hewing their wifdoh - The projects of such men, however, a'fe not oft en practicable, and their opinions are feldon founded in propriety. Tliey can escape error only ifi pOiilts of which they are ignorant, anc in lift communicate folty.unleft they remain silent Jt is hoped the reader will not infer from theft tHat I mean to dall in question theutili ty ofleariiin<*. The mifapplicaticin of it, in fom< inftancfes, Will, by no means, authorize a conclu fton, that its ufeful purposes do not, uj>ou the whole, far overbalance its pirnictous. Men maj be flailed iri foine profefliori, who have little com prehe'hfiOti with regard to other matters; anc While they are confined to their proper sphere their learnitig maybe at least harmlefs,if not be jieficial. But we ffibuld not conclude that, be cause a man is a flulful mechaliic, or ah experi mathematician, he ha 6 talents for general objecft! of buflnefs. Much less mult we conclude that £ nan, who, by laborious Itudy lias acquired a f'mfttMfring in all the faiences', but Who, for w ant of discernment is perfetf in none, can be qualifi ed for those employrtients that require a strong judgment and keenobferration. Extent of learn ingcJan only be of' eminent ufe,where it is accom pained by a coihpre'henfive, diftiriguifliing mind, l'erfonsof a capacity,which however may be fit for fomething,(Tiotild know their own limits, and colifine their attention to those points that correspond with their natural bias. They run into fhiltakes", ali'dbecofrte contemptible, whene ver they depart from that {fa'ndard. But those ■wht> haVe* aff'iiiid'e'rftanditlg naturally dark, and clouded, in all things, multiply their errors, if tliey attempt to acquire ideas in any thing, that is not nearly felf-evident. People of this difcripti on, after a feW years study, find their memories itored with a great deal ofliterary fluff, and have at their tongue's end a variety of tei hnical terms, Whidftfrey leait-n afttiency dfuttering on all occa sions*., In this tliey obtain the reputation of pofleffmg vast learning i they are supposed to hive a depth 1 of Knowledge when they (peak upOn pbfitical or moral fubjeiSs ; because they know not hov? to express themselves clearly. It is eafv to imagine that such people pass in the' W6rld for more thanthey are worth, and may be employed in offices for which they are totally unqualified. Ignorant men mUft'hdve few errors, be cause they have few 1 ideas' ; and they will seldom impose on others ; both because they do not wiih it, and becauTc they have little PUBLISHED WEDNESDAYS AND SATURDAYS BY JbhN FES HO, No. 9, MAIDEN-LANE, I>JEW-YORK. No. CI WEDNESDAY, MARCH, 31, 1790. influence. Learned men, on the other hand, are strongly prompted by vanity to communicate what they know j and when they have acquired literary fame, there will generally be implicit faith enough in the world, to give currency to their fcheines and opinions. Thus it happens that error, not only molt frequently originates with the learned, but is nioft eagerly propagated by them, and mod readily received from them, by other people. The mind of a man may be a rich deposit of faifis, who still may never be able to compare them in such a manner, as to deduce any jult inference, or make any ufeful applica tion of his knowledge. The causes which pro duce error are not to be removed by mere attain ments irt science. We often fail of coming at the truth in our reasoning, by commencing our enquiries upon wrong principles. If a;l enqui rer cannot therefore determine the propriety of his original propositions, he may carry on a train of syllogisms forever, and be constantly diverg ing from the truth. Anothervery common caule of error proceeds from falfe comparisons. Cases are often compared which have not fufficient re semblance; and pi ecedents introduced under cir. cumftances, where they do not fairly apply. May it not be concluded that experience and reflediion mult be united with literary accom plishments, to render a man really eminent or ufeful > And who has not observed, that even all these qualifications will not form a perfed: charac ter without calling to aid,thofe powers of intuition which can always acfl properly from the itnpulfes of the occasion ; and that acutencfs of discern ment that can rightly estimate every event that occurs ? CONGRESS. HOUSE OF REPRESENTATIVES. THURSDAY, MARCH it. IN committee of the whole on the report of the Secretary of the Treasury, for nuking provision lor the support of the public credit—the following proportion was read, viz. To lidve the whole sum funded at an annuity, or yearly interest of four per cent, irredeemable by any payment exceeding five dollars per annum on account both of principal and interest > and to receive a 4 a coinpenfation for the reduction of interest, fifteen dollars and eighty cents, paya ble in lands, as in the preceding cafe. 'Hie motion to rcjm the propofltion wn difcuflcd. Mr. Wmfl. Ifthe irredeemable quality would be any induce ment our domcllic creditors, it ought to have weight. Ido not think it will ; but it is said, that it will be agreeable to fo reigners ; it may, bpt in proportion as they becomc intercftetj in our fundi, this principlt will make us become tributary to them fiirever; withrefpeft todai- eonftltueMs it must be acknowledged thjt taxes paid tq extingdifli a debt, are always paid with most cheat fulnefs ; so fai as my experience goes, it confirms this obfer vifion, There arc four millions of our debt due to one foreign natiori oAly; the iritcref? on which is 200000 dollars annually. The ii redeemable quality led me to vo'fe ajtfnft the second pro pofltion. I have the fame objection to this. The hrft proportion I confide r ajuftand fair offer. Tlie equivalent in land is a* favorable to the cieditor as the cir curtlftanCes of the coUntiv will admit. Twenty cents an acre for Wcfterrt Territory is hot too high ; it is a very moderate valuation. Kentucky would fell for more than that, and ten years finre the profpefl there was not so favorable as that of the Weftcrn Terri- I l6ry. . ~ • Mr. Wilfe iii the coiiriedf a'number ofdther obferyations, said, that if he was a member of the British Parliament, he should rely on the calculations offered in the report, without giving them an examination ;he clid not dotibt that thev were just. The report is an ingenious performance and docs the gentleman honor who hds framed it. But as a member of the legiflatuic of the United States, he had a right to investigate critically every propofltion fubmittcrf (o him, aiul to canvas eveiy fuljefl with rigor. He ob served that the gentleman from Maffachuletts had not inform ed him tfpon the ft(bje£fs ps his enquiry ; he had told him that the Secretary fays so, and that such and luch things aie foj which he knew perfeflly well beforf. He wanted to know what was the pfecife sum his constituents would have to pay. The motion for Unking out this piopofition palled in the affir mative. The nevi propofltion was lead. i " To have sixty-six dollars and two-thirds of a dollar funded immediately, at an annuity, or yearly interest of fix per cent, in edeemable by ally payment exceeding four dollars and two thirds of a dollar per annum, on account both of principal and interest ; and to have, at the end of ten years, twenty-fix dollars and eighty eight cents fmuled at the like interest and rate of redemption." Mr. Jack ton moved to ftVike out the words " irredeemable by artV payment exceeding tour dollars and two-thiids. In fuppOit of his motion ht observed, that the irredeemable quality, as'allowed by .gentlemen in favor of the resolution, was altogether' for the benefit of the foreign creditor. On this princi ple he was opposed to it, as well as to the annuity proportions, which were calculated for the rich brokers of Paris, but by no means for the citiztns of America. The former were in general very rich, and commoply fmgle ; they aspired to alliances w.lh noble families whodefpifed their connexions, and they were too proud to marry those who were beneath their fortunes : Annuities the eforeanfwered their purposes of providing for themfelves thofe people, in general, caring nothing for poflenty. This w. notthe cafe in America, where something more fubflanti»l would ipfrtfe.. PRICE THREE DOLLARS PR. ANN be fought after by a creditor, to leave his children. He said, he was induccd to this digreflion, to shew the impolicy of holdnl* out too £reata temptation to for igners: He did not (ik.;: the idea of putting it out of our power to redeem the debt, whenever the nation might be competent; and it was declared by geutle men, that there were situations in whjch the debt ought to be ir* redeemable. A great deal had been said on this head j and modes had been pointed out how the debt could be redeemed, notwith danding the express terms of th<£ clause. This appealed to him. to be a cohtradittion of terms : But it was said, that the public were to go to market to purchase their own debts. Severe cerv fures had been paflcd on private {peculations defervcdly: But here was an avowed one on the part of the public. He hoped that this word kind of speculation would not be countenanced. For hi* part, he conceived a proceeding of this nature, however common it might be, a departure from the honor and credit of the nation 4 and that, if thi* irredeemable quality was dricken out, he belie ved there would be no neceflity for this measure. The gentle men who now appear so warmly to advocate the cause of thfc foreigners, he observed, were of different opinions on a former day, and infided there was no difference between a foreign or do* medic creditor, and that they ought all to .be 011 an equality. Gentlemen had given the house flatter ing accounts of the in crease ot specie, and the benefits resulting to the continent, from foreigners purchafmg in our funds; but it was certain with him that this influx would prove but of momentary advantage, and that the very purchase itfclf would conditutca conditutional drain, in the intered, not only of that specie >yith which the dock was purchased, but of thea&ual medium of the ,country* It therefore becomes our duty to keep as much of this dock as poilible in the hands of pur own citizens,and not hold out too at a temptation to foreigners. The firft proportion, he advanced* wentfar enough, and he was dubious whether there exifled a neceflity for any other* Two-thirds of the debt was to be funded at fix per cent, and the lands were tp be received for the other third : these lands were the proper funds of this country, and were to be taken, as the Se cretary himfelf advanced in his report, at a fair valuation : a dol lar had been given for an acre heretofore--the price now was on ly twenty cents. It might be advanced, that the creditors would not receive them ; but this, he said, could not be done with jus tice, nor did he believe it would be the cafe. Numbers had plied, petitions were now on the table, offering to pay for thcl'o lands in the principal of this deb£ : no attention had been paid i<j them, nor was it known what amount of our debt we might ftfik. in this way. He had, however, no obje&iort to the resolution now before the house, to give the creditor an option, provided the obnoxious words were stricken out ; he was certain they would be ble ; and if, as some gentlemen had reprefentcd them, they were of no confcquence, he hoped they would not be contended for. Mr. Boudinot was opposed to the motion, he con fide red the inducement, in the reduction of the capital, held out in this pro* position to the creditors, a full equivalent for ihe irredeemable quality proposed to be given it. Mr Ames : It is moved to strike out the word irredeemable from this proportion of the Secretary. In order to judge of the expediency of adopting the motion, it will be ncccfljiy to take an extensive view of the whole fvrbjeft. It will be proper 1a enquire, Whether it is necessary to effect a new modification of the debt—what ought to br the principles and terms of it, and whe ther the proposed amendment is or is not confident with them. Why do we not provide for paying 6 per cent ? Let us perform! the contrast as it was made. This has been frequently said. I answer, other terms to be agreed upon will better in terest of both parties. Unqlieftionably the contr*& is binding on the government at 6 per cent ; nor can any thing fliOrt of the free consent of the eerdi tors annul or change it. We are to exclude from this difcufTion allfufpicion of bad faith. Government lhould notdidrud itfclf, nor fuppofethat it is didrud ed. The question turns, not on the willingm fs, but on the ability to pay—not merely the ability of the people, but of the govern ment. We are not to regard alone the vigor and efficiency of go vernment, for this is not to be truded as the measure of its power to tax. For this power depends greatly on habit, and is the slow est growth of all the habits of a country. By often impofmgtaxes, government may be sure of their produ&ivenefs—and in what form they can bed be supported. A new tax is more grievous than an old one; tor the people form their habits of living to the per manent date of things. Experience only can teach the govern ment what is pra&icable, and what is prudent, and habit not only makes public burdens less obnoxious, but less oppreflive. I infer ihat Congress is not podefied of its entire capacity to form fufli | cient funds, nor of the evidence to fatisfy the creditors that they ; will be Efficient for 6 per cent. The funds rnud be fufficicnt, • otherwise they cannot be pledged, and known to be fufficient,' otherwise they will not be trudtd. We may fay and believe that the taxes will produce a sum adequate to 6 per cent, but it will be with a degree of doubt, and fubje£t to contingencies equally un friendly to the public and its creditors. Securities would fluff uare, tor this doubt would be a fubjeft of speculation. The creditor s would lol'e much of their capital in the market, and the public would lose the use of the debt as money. Those who advocate a 6 per cent prflvifion, will pleafeto point out the taxes which will enfurethe payment at that rate. Straining the sources of taxation may make the product of the fird year considerable ; but that of the fuccecding years will be impaired. Besides, is it confident with prudence for a nation to pledge its funds to the extent of its capacity ? Contingent expence* cannot be avoided. These would injure tne funds, and war would totally dedroy the whole fydem. This is doing, at bed, temporary judice to the creditors but as the insecurity of the papei will affect the price, it will not merit evex* that title. This leads to a view of the nature of this property. When the funds are sure and fufficient, thq capital will rife in proportion to the rate ot intered. The bed condition of the paper is-, when it has a fixed exchangeable value, and at the highed rate. For then the holder can difpofc of it at pleafurc, and without loss. He has no occasion to desire the public to pay off the loan, as he can get his money more conveniently at the time, and in the place he may chufe by felling at market. The paper is as good as the money lent. He may therefore be said, to every uieful purpose, to keep his property while he is paid for lending. This is better and fafer than private debts, and this is the natural date of public and something mud be found wiong where it is not so fixed. It is the intered of thecreditors to concur with government in the means which will bring it to this desirable point. What aiethofe means ? The Secretary has offered fcveral proposals. Will these, or an adherence to the original contract, in exclusion of them, best pro mote the object ? One of the primary means proposed by the Secretary is funding the debt. Perhaps the ftri£t claims of the creditors < ould not be extended bey-nd annual grants. But policy and libeial justice forbid the measure. Where this has been tried in some of ihe *
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