[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
*