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(conclODID FROM OUR LASt.)
TREASURY DEPARTMENT,"]
Dicembtr 13, I 790. J
In obedience to the Order of the House of Re
presentatives of the Ninth day ot Augult last,
requiring the Secretary of the Treasury to pre
pare and report, on this day, such further pro
vision as may, in his opinion, be necefl'ary for
eftablifliingthepubliccredit—the faidSecretary
Refpeflfully Reports,
A MONG other substantial reasons, which recommend, as a
provision for the public debt, duties upon articles of con
f'jmption, in preference to taxes on fioufcs and lands, is this It is
vciy dcftrable, if practicable, to refcrve the latter fund for obje&s
and occasions, which will more immediately intercft the fcnfibili
ty of the whole community, and more dire&ly afFett the public
fafety. It will be a consolatory reflexion, that so capital a resource
remains untouched by that provilion, which, while it wiii have a
very material influence in favor of public credit, will be also con
ducive to the tranquility of the public mind in refpeffc to external
danger, and will really operate as a powerful guarantee of peace.
In proportion as the e'ftimation of our resources is exalted in the
eyes of foreign nations, the refpeft for us must encreafe ; and this
must beget a proportionable caution neither to insult nor injure
us with levity. While on the contrary* theappcarance of exhauft
cd resources (which would perhaps be a confeqitence of mortga
ging the revenneto be derived from land, tor the intercft of the
public debt) might tend to invite both insult and injury, by in
spiring an opinion, that our efforts to resent or repel them were
little to be dreaded.
It may not be unworthy of reflc&ion, that while the idea of re
siduary resources, in so striking a particular, cannot fail to have
many bcneficial consequences ; the suspension of taxes on real
estates can as little fail to be pleafirtg t6 the mass of the communi
ty ; and it may reasonably be prefumcd, that so provident a for
bearance on the part of the government will ensure a more cheer
ful acquiescence on that part of the class of the community imme
diately to be affe&cd, whenever experience and the exigency of
conjun&urcs shall difiate a resort to that species of revenue.
But in order to be at liberty to pursue i his (alutary course. it is
indifpenlable that an efficacious use should be made of thofc arti
cles of confomption, which are the most proper and the mod pro
du6live ; to which class distilled spirits very evidently belong ;
and a prudent energy will be requisite, as well in relation to the
mode of collection, as to the quantum of the duty.
It need scarcely be observed, that the duties on the great mass
of imported articles, have reached a point, which it would not be
expedient to exceed. There is, at lead, fatislaftory evidence, that
they cannot fre extended farther, without contravening the sense of
the'body of the merchants ; and though it is not to be admitted
as a general rule, that this circumftanee ought to conclude against
the expediency of a public measure; yet when due regard is had
to thedifpofition which that enlightened class of citizens has man
ifefted towards the national government —to the alacrity with
which they have hitherto seconded its operations—to the accom
modating tamper with which they look forward to those addition
al impositions on the objetls of trade, which are to corhmence
with theenfuing year, and tothe greatnefsof the innovation, which
in this particular, has already taken plactf in the former state of
things, there will beperceivcd to exist the most solid reasons again ft
lightly palling the bounds which coincide with their impreflions
of what is reasonable and proper. It would be, in every view,
inauspicious to give occasion for a fuppofitionj that trade alone is
destined to feel the immediate weight of the hand of government,
in every new emergency of the treasury. •
However tnie, as a general portion, that the consumer pays the
duty, yet it will not follow, that trade miy not be effenrially dif
trefled and injured, by cairymg duties on importation to a height
which is difproportioned tothe mercantile capital of a country.
It may not only be the cause of diverting too large a share oi it
from the exigencies of business, but as the requisite advances to Sa
tisfy the duties will, in many, if not in molt, cases, precede the
receipts, from the sale the articles on which they are laid, the
consequence will oken be facrifices which the merchant cannot
afford to make.
The inconvenience of exceeding the proper limit, in this refpeft,
which will be felt everv where, will fall with particular severity
on those places which havf not the advantage of public banks,
?nd which abound least in pecuniary resources. Appearances do
not juftify l'uch an estimate of the extent ot the mercantile capital
of the United States, as to encourage to material accumulations <-?i
the, already considerable, rates of tile duties on the mafsof foreign
importation.
Another motive for caution on this point, aiiCs from the re
flexion, that the effect of an important augmentation made by law
of the lall session, is hitherto a mere matter of speculative calcula
tion, and has not yet even begun to be tried.
It is presumable too, that a flill further augmentation would
have an influence, the r-everfe of favorable to the oublic credit.
The operation would be apt to be regarded as artificial —as defti
tutc of fohdity —as prefeming a nurricrical increase, but involving
an actual diminution of revenue. The distrust of the efficacy of
the present provision might also be accompanied with a doubt of
a better substitute hereafter. The inference would not be unna
tural, that a defect of other means, or an inability to command
them, could alone have given birth to so unpromising an effort to
draw all from one source.
A divcrfification of the nature of the funds is desirable on other
accounts. It is clear that less dependence can be placed on one
fpccies of funds, and that too liable to the vicissitudes of the con
tinuance, or interruption of foreign intercourse, than upon a vari
ety of different funds formed by the union of internal with exter
nal objects.
The inference, from these various and important considerations,
seems to be, that to attempt to extroft wholly from duties on im
ported articles, the sum necefiary to a complete provision for the
public debt, would probably be both deceptive and pernicious ;
incompatible with the inferefts, tvot less of revenue than of com
merce ; that resources of a differenrkind mull of ncccfuty be ex
plored ; and that the feledtion of the mod fit objects is the only
thing which ought to occupy enquiry.
Sefidcs the establishment of fupplemcntary funds, it is requisite
to the support of the public credit, that those eftablifhrd should
stand upon a footing which will give all reasonable afTurance of
their effectual collection.
Among the articles enumerated in the ast makingjjprt'ier provi-
Jionjor the payment of the debt of the United States, there are two,
wines and teas, in legard to which some other regulations than
haveyet been adopted, Teem necessary for the security of the reve
nue. and defirablefor the accommodation of the merchant.
With these views, it is submitted, that the term for the payment of
the duties on wines be enlarged, as it refpecls Madeira wines, to
eighteen rnomhs ; and as it refpe&s other wines, to nine months ;
and that they be colle&ed on a plan fimilarto thatpropofed in re
lation to imported diftilied spirits.—
And that a third option (two being allowed by the prcfent law)
be given to the importers of teas; which fliall be, to give bond
without surety for the amount of the duty in each cafe, payable in
two years, upon the following terms—
The teas to be deposited at the expence and risk of the importer
in flore-houfes to be agreed upon between him and the proper
officer of the revenue ; each store-house having two locks, the key
of one of which to be in the custody of the importer or his ag. iv,
and the key of the other of which to be in the cultody of an cHB-
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cer, whose duly it (hill be made to attend, at all reasonable times,
for the purpose of deliveries. . ♦~;«« tn a
These deliveries, vhetber for-home sale, or o. cxp
foreign country, to be warranted by permits from the chief cm
cer of infoeftion of ne place. , i(Wall
If for home sale, ne permits to be granted after the out
have been paid, or fecurcd to be paid.
When the amount of the duties shall not cxcee .
dollars, four months to be allowed for payment
exceed one hundred dollars, and not exceed five unorc f «• »
the term of payment to be eight months; ant twe vc mc
whenever the amount (hall exceed five hundred dollars ; 1 rovl^ a >
That the credit (hall.in no cafe extend beyond the peri of <>
years originally allowed for the entire sum. If the uties on
whole ddafttit'y deposited (hall not have been pai , or ecure
be paid, before the expiration of that time, it faa.l ~>e aw i li or
the propei officer to cause a sale to be made of lo ias ..j )C
f'ifßcient to discharge what shall remain unfatish.d. In every
cafe, it shall be at the option of the part; applying for the permit,
cither to pay the amount of the duties on the quantity to be deli
vered, or to give bond for if, with one ormore furetn's, to the ia
t is ration of The officer whose province it shall be to giant the pei
mits.
If the deliveries arc to be made for exportation, the permits to
be granted upon bond being entered into to fecurc and afccrtain
the exportation. This may require some alterations of form, in
the manner of proceeding, relatively to the expoitatton of t is
article. .
All teas to be landed under the care of the infpettors ot the re
venue ; the cht (Is and other packages containing them to be mar
ked, and certificates which shall accompany them to be granted,
as in the cafe ofdiflillcd spirits.
To these more direst expedients for the support of public cre
dit, the inditution of a National Bank, presents itfelf as a necelia
ry auxiliary. This the Secretary regards as an indispensable en
gine. in tire adminiflration of the finances. To present this impor
tant object in a more diflinft anS more comprehenfivc light, he
has concluded to make it the fubjeft of a separate Report, which
he begs leave herewith to submit No. 11.
All which is humbly fubmittcd.
ALEXANDER HAMILTON,
Secretary oj the Treasury.
Estimate of the probable Product of the Funds, proposed in the
annexed Report.
4,000,000 gallons of diflilled spirits imported from
foreign countries, at 8 cents per gallon, 320,000
3,500,000 gallons of spirits, distilled in the United
Slates from foreign materials, at xi cents pr. gallon, 385,000
3,0®0,000 ditto, distilled from'materials of the United
States, at 9 cents per gallon,
Total dollars.
Dedu6l for drawbacks, and expeace ot colledfcion,
10 Dcr ccnt.
Net produtt,
PURSUANT to a Rcfolve or ast of Congress of the 10th day
of May, 1 780, relative to the deftru&ion of Loan-Office Cer
tificates by accident ; notice is hereby given to all whom it may
concern, that on the 26th of December 1788. the house occupied
by Wi l l lam Has e lton, of the Delaware State, took fire and
was consumed, in which was lodged a number of Loan-Office
certificates as pr. lift below, all which were destroyed by the said
fire : Therefore if airy person, hath any objection why the said
should not be renewed, agreeable to the resolves of
Congress. they must make them before the expiration of three
months, from the date hereof.
Invoice of Loan-OJfice Certificates dcjlroyed in the house of Win. Hafelton'
on the above date.
1788.
October 24, 4873 ) j o j] ars eac l, t ( favor of James
4 5 Haselton.
6356 one or 4CO dollars, (
ELIZABETH HASELTON,
Philadelphia, Nov. 26, 1790.
Ebenezer Hazard,
At No. 128, in Second Street, between Racc and Vine Streets.
BUYS AND SELLS ALL KINDS OF
Public Securities.
N. B. Persons having Business to tranfafr at the Public OfEces,
may be aflifted, or have their Business done for thetn (without the
trouble and expence of a personal attendance) on very moderate
Terms. November 29.
INTELLIGENCE-OFFICE,
No. 208, in Market, above 6th Stuiet, Southf,dc,
WI L L be negociated all kinds of PAPER
MONEY and
Public Securities,
BUSINESS tranfacftecl in public offices in the
city, and such Paper-Money and Certificates furnilhed, as will
make payment at the Land Office equal to Gold and Silver.
MONEY borrowed or loaned, and BILLS,
BONDS, and NOTES of HAND difcounteci.
HOUSES, Farms, Lands, and Lots, bought
and fold, let or leafed, and Houses, Rooms, and Lodg
ing procured for Strangers, or others.
BOOK-KEEPERS, Clerks, School-Matters,
Waiters, Nurses, ScamflrelTes, Chamber and other Maids, and
those of other profeflions, who come well recommended, miav
hear of employ ; and Employers be fupplicd, bv applying to
FRANCIS WHITE.
Dealer in Paper Money, and Picblic Securities.
IMPERIAL, HYSON, SOUCHONG, and BOHEA
T E
REFINED SUGARS, COFFEE, and SPICES, &c
Of the fir ft Quality—by Retail,
No. 17,
Third-Street, between Chefnut and Market-Streets.
John Francis,
Late of New-York, refpc&fully informs the public, that he
lias opened a
Commodious Boarding House,
No - 53' Fourth-Street, one door from Rare-Street,
WHERE Gentlemen may be accommodated with
<;£nteel boarding and lodging,
By tlic Week, Month, or Year, and on the mod moderate terms.
Pbiia. Nov. 20, 1790, [saw.3m.]
- V - ft 1
.<* '/v"
688
Dollars,
Administratrix of
James Hase lton, deceased.
[62 6r.iaw.]
At the
A S
it'
PROPOSALS,
Bv JOHN TRDMBUI, L,
For Publishing by Subscription,
TWO PRINTS,
Front original Pictures painted by him J elf\
One representing the Death of General WARREIf,
at the Battle of Bunker 1 s-llilL
The other, the. Death of General MONTGOMERY,
in the Attack of Quebec.
IN T the battle of Bunker's-Hill, the following Portraits are intro
duced —
American. Brit'Jh.
Major General Warren*, Gen. Sir Will i-am Kowe,
Putnam. Sit Henry Clinton,
Lieut. Col. John Small,
Major Pitcairn, and
Lieut. Pitcai r n.
In the Attack of Quebec, are ft en—
General Montgomfry, Colonel Thompson,
Major Macpherson, and Capt. Ch eesman.
CONDITIONS OF SUBSCRIPTION.
The prints will be engraved by two of the molt eminent artists
in Europe. The size will be 30 inches by 20. The price to fub
fenbers, Three Guineas for each print; one half to be paid at the
time of fubferibing, the remainder on the delivery of the prints,
whichwill be as loon as the work (which is already confidcrably
advanced) can poflibly be completed.
Subscriptions are received in this city by Joseph Anthony,
jun. Goldsmith and Jeweller, No. 76, Market-ilrcet.
Thef.' prints are the firft of a ferics, in which it is proposed t#
reprcfcnt the most important events of the American Revolution.
No period of the history of man, is more interesting than that
in which we have lived. The memory of scenes in which were
laid the foundations of that free government, which secures our
notional and individual happirvefs, must cvei remain dear to us,
and to posterity ; and if national pride be in any cafe juftifiable,
Americans have a right to glory in having given to the world ar\
example, whose influence is rapidly spreading the love of free
dom through other nations, and every where ameliorating the
condition of men.
To aflift in prcferving the memory of the iUuftrious events whick
have marked this period of our country's giory, as well as of the
men who have been the mpft important a6iors in them, is the ob
ject of this undertaking History will do jufticc to an iera so im
portant ; but to x bcread, the language in which it is written mult
be understood—the language of painting is universal, and intelli
gible in all nations, and every age.
As several years of his time, and a xfry considerable cxpencr,
are neceflary to accomplish this undertaking, it would bean im
prudent facrifice to the mere hope of reputation to go more deeply
into it, without a probability success : —That he may
judge of the degree of this probability, Mr. Trumbull, by the ad
vice of his friends, proposes this fubfeription, and Hatters himfelf
with a hope of meeting that p?tronage from his countrymen,
which will juftify his pursuing the object with ardor; and with
out which it is impoflible that so expensive a work should be con-
Dollars.
270,000
975> 000
97»5 00
877,50°
tinued,
The fubje&s proposed to be reprefented,in addition to the tw»
foregoing, of Bankcr r s-Hill and Qutbec, arc—
* The Declaration of Independence,
* Battle at Trenton,
* Battle ol Princetown,
Surrender of General Burgoyne,
Treaty with France,
Battle of Eutaw Springs,
* Surrender of York-Town,
Treaty of Peace,
Evacuation of New-York,
Resignation of General Washington,
The Arch at Trenton,
In a ugu ration of the President of the United State*.
Each pitture will contain portraits of the principal charattcrs
who were present at the scene represented. Those marked with
stars, are considerably advanced; and the prints from the. whole
will be executed of the fame size, and by the moll eminent en
gravers.
December 14,
To the Merchants, Traders, Foreigners, and the Public in general.
Gentlemen,
AGREEABLY to the plan which the Subscriber submitted t«
the public confederation, and under the mod flattering affur
ancc ot public patronage, he takes the liberty of announcing, that
EXCHANGE COFFEE HOUSE,
is now opened at the corner of Market and Water-Streets, for the
accommodation of the Merchants, Traders, and other Citizens of
Philadelphia.
The Subscriber deems it unneceflary to repeat the declarations
of his sincere intention to prosecute his undertaking with the most
rcfpe&ful afliduity : But he cannot forbear making a public ack
nowledgment of his gratitude, for the encouragement he has alrea
dy experienced ; nor suppress his invariable wish, that those gen
tlemen who may honor hisCoffec-Houfe with their presence, will
communicate such articles of intelligence received from their cor
respondents as they shall think, proper, and in preference, will up
on every occasion, point out the defeats of his plan, or favor hir*
with hints for improving its execution.
The Subfcribei will prepare entertainments,cither at noon, or ia
the evening, tor felcft parties, upon the fhortc ft notice, and on the
mod reasonable terms. He can accommodate two or three Gen
tlemen with lodgings ; and proposes at two o'clock on each day,
wheu the public buhnefs of the CofFce-Room is over, to provide a
cheap, but good and plentiful ordinary, for such guests as (hall
please to honor him with their company.
I am, Gentlemen,
Your most obedient and humble Servant,
Dec. 18.
By Thomas Lang,
And fold by Francis Bailey, Joseph Crukshank, Wil
liam Piiicha ro, and Ri c e and Co. in Market-Street ; and
by Thomas Dobson, Wi lli a*m Young, and Robert
Campbell, in Second-Strect, Philadelphia,
Price t2 j. 6d. (not half the price of the London edition)
The Poems of Ossian,
Translated by JAMES MACPHERSON, Es e .
WHEREAS a certain WILLIAM TUFF, of Salem County,
State of Ncw-Jerfey, |ias two nine pound notes of hand,
given by Samuel Hollinjhead, jun. and by certain information, it
appears that my name as a lecurity for the fame is added to those
notes, unknown to me. I hereby forbid any person or pcrfons
from taking any aflignment of them from him ; for I am deter
mined not to answer those notes, or any aflignment of them, as I
know nothing of their dealings, nor will I answer for the fame.
QnmbcrUni County t A'#?. 30, 1790.
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THE MERCHANTS,
VINCENT M. PELOST.
This day is published,
No. 21, Church-Alley,
THE
SON OF FINGAL
REUBEN ROBINSON.
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