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A NATIONAL PAPER, PUBLISHED WEDNESDAYS AND SATI'R DAY*i BY .. ;___„
-— 10HN FFNt >O, No. 34. NOPi'H FIFTH-STREET, PHILADh 1 PHI -v
[No. 57 of Vol. IV.]
The following Tabhs are connected with the Report
pj the Secretary of the Treasury on the Redemption
ef the Public Debt—pub!Jhed iu our hjl Gazette.
TABLE Ihewing the effect of a sum annually
created, equal to the intercft of the sum to be
redeemed within cach year, for a period of
nine years, commencing fiom the firft of Ja
nuary, l 793 —on the fuppofnion that the in
tercft on the sum annually redeemed be in
verted, as it is liberated, in the purchale of
6 per cent, flock, at the price of 22 (hillings
on the pound.
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TABX.F c.-hlbi'-ing 1 ■. i. „ _f the propof-d ?;»n
ol Redemption.
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M«iie of (onjlitutmg the fropofed Annuities.
Volts. Cts.
: ?93- Surplus dividend
ol the bank Hock, b<>.
yond the intereil v. hich
wiil be payable,eftimat
"i »t - 6G,000
' 43.'99- °6
— lc 3i'S9- c 6
Saturday, December 15. 1792.
•1794. Tax
I.X -
Parr of annual intercft converted into annuity
Tax „
♦ 1
1790.
P»rt of annual interest converted into annuity
Tax _ 1
1 797
Part of annual interest converted into annuity
Tax
i 79 8 -
Fan of annual intereftconverted into annuity
Annuity of the firft year now libtuied by l eimbiiifem«,u of
the lit loan
Tax
1799,
1800.
Part of annual interrft converted into annuity
Annuity of fccond year now liberated by mmburl'cment of
the 2d loan
Pjrt of arrears of ititerft to be applied for balance of annuity
this year - 1
But a supplementary provision will be to be made for the 2d
year, equal to ihe sum dollars am', four cents, as
the fund in that particular u not annual. This may 'also
ariiV-from the arr ars oi* iotertft.
The payment to be made on the tft ol January 1802, may pro.
ceed from the following funds.
Amount of annuity of 3d year liberated by reimbursement of
the 3d loan
Unappropriated arrears of intercft
Temporary loan •
Treasury Department, Novemler 30th, 1792.
D
n ,• 1 u T '* ew , °-f Redeeming Fund, to and upon the 1(l January, 1802.
Interejl which will have been liberated by purchale, and ,„ivmen's nuo the Treasury,
excluliveol redemptions, according to the proposed plan,'
Jan .ft, 1794, by redemption of 550,000 dols. iate 6 percent.
ditto 1795, by ditto of 583.000 at ditto
ditto ,796, by ditto ef 617.980 ditto
ditto 1797, by ditto of 655,058. 80 ditto
ditto 1798, by ditto of 694.362. 33 ditto
ditto 1799. by di'io of 736,024. c; ditto
ditto 1800, by ditto of 780,185. 52 ditio
ditto 1801, by ditto of 826,996. 65 ditto
ditto 1802, by ditto of 1,1*6,616. 44 duto
Surplus dividend of bank stock beyond the interest which will be payable out ol it 95
N Annual sum at the end of 1800
EDUCATION
AN EXTRACT.
A FEW men of wit, who, in a
long intercourse with the fash
ionable world, probably for
gotten that little knowledge of the
ancient languages and authors,
which they had acquired at school,
have endeavored to bring into dis
credit the prevailing mode of edu
cation, which devotes much time to
the study of Giecian and Roman li
terature. Poflefled of natural parts,
they have perhaps, besides, enjoyed
all those advantages of good com
pany and extensive commerce jvith
the living world, which both excite,
and give occasion to display, great
abilities. They became, therefore,
d iltinguifhed characters in their
time, though their (olid attainments
were few, and greatly defective.
But, whatever figure they made,
they would have shone with ft ill
greater lustre, if they had retained
a tincture of that elegance and li
berality of sentiment, which the
mind acquires by a study of l he clas
sics, and which contributes more to
form the true gentleman, than the
Aabftituted ornamentsof modern af
fectation.
The example of these illustrious,
but fupeificial perloiifges, has in
duced every prater, who has been
tauc;ht to Idp broken French, a;-d
dance a minuet, to laugh at the lub
berly boy, as he calls him, who
spends a dczen years at school, in
225
Taxes which uqi," have iec» laid.
1793 dollars . 43, 1 99- 6
1 99»39 1 * 60
1 '5>955- »7
48
102,743. 12
107,680. 20
109,649. 32
■794,
1 795
1796
>797
I^9B
■799
Amount of Interejl converted into Annuities
1796 dollais 20,00p
>797
1798
1800
Tkeasurt Department, November 30, 1792.
ALEXANDER HAMILTON.
learning Greek and Latin. He un
fairly represents this time, as spent
ii acquiring the languages alone ;
ignorant that a taste is often form
ed in it for those authors, who are
able to furnifh the purest and the
mo ft elegant pleasures during the
remainder of life.
The pert vivacity of allured ig
norance has often persuaded the
fond mother to discard the tutor for
the dancing mailer ; to be more fo
licitons that the hopes of the fami
ly, the heir, perhaps, to a tide, an
estate, and even a lhare of legisla
tion, ftould be taught to hold up
his head, than be furnifhed with
those ideas and principles, which
would render him truly happy in
hiinfelf, ami an honor and advan
tage to his friends and to his coun
try.
Even among those who are fully
sensible of the neccifity of improv
ing the beauties of the mind, as
well as the graces vf the person,
there prevails a precfilecftion for
modern languages and modern li
terature to the exclusion of the an
cient. 111 the idea of these, a fuf
ficient stock of historical knowledge
is to be gained by an attention to
the events of the two or three lalt
centuries ; and a fufficiqnt acquain
tance with philosophy, and polite
learning, from a perusal of the
writers of France and Italy. Col
lections of letters and state papers,
and the epigrammatic narratives of
20,C00
♦02,912. 48
50,000
102,743. 12
90,000
107,680. 20
6 c,OOO
10 3»*99» °6
109,649.32
272,848. 38
220,000
10 9>39 l - 60
94,192. 04
•>5 955. '7
200,0C0
810,661. 27
ALEXANDER HAMILTON,
Dollars
50,000
90.000
240,000
380,000 dollars
Dolls. Us.
10 y»39 i * 60
11 59d5. »7
I lie hiltoi iaii of * cincy. .w ! '
ply tlic place of Herodotus, Thinj
dides, and Livy. Aiiollo, Tallo,
and Bpilean, aie to be read in pie'
lerence to Homer, Virgil, and Ho
race ; and the works of Voltaire
alone, ro be fubftiiuted in the place
of all the poetry, all the philosophy,
and all the hiltory that ever has
been written. In conftquence of
these mistaken notions, our greac
grammar fehools, which have pro
duced so many ornaments of human
nature, are exploded by many, as
the feats of illiberal manners and of
antiquated learning.
With refpeft to the charge that
illiberal manners are the difgrace
ful charai'teriftics of boys educated
ill grammar schools, I must confels
I am plea fed with the natural ftm
plicity of that age of fpriglulinefs
and inexpe-ience ; nor do 1 know a
fight more truly ridiculous, than
that of a boy of fourteen affecting
the grates, and behaving among
his Superiors in age and attainments,
with all the difguiliug ease of fcif
fufficiency.
The fame natural good sense
which makes the boy ac't in charac
ter, will teach the man a manly be
havior. And I believe every judi
cious person had rather fee his lon,
while very young, partaking in the
noisy miith of his school fellows,
than bowing and grinning in the
insipid circle of a card party.
With refpeot to the other charge,
that a learned education is a liitle
out of falhion in some polite circles,
we confefs and lament that ii is true.
Bnt though we allow fulhiun to dic
tate without' controul the exn<l ili
menllons of a buckle or a head
dress ; yet a regard for the honor
and happiness of human nature, in
duces us to dispute her sovereign
authority in tliofe things, on which
depend the manners and sentiments
of a riling generation.
If, however, it is gianteil, that
the true gentleman, that is, the
man of enlarged notions and poliih
ed taste, cannot, by any method of
education, be so well formed, as by
the clalfical ; yet it by no means
follows, that thole whose happiness
mull, in a great measure depend on
less coniprehenfive views of men and
things, fituti 1d be iuftruCied in the
lame mode. The time thatisufual
ly spent in Lilly's grammar, and in
acquiring just so much knowledge
of the Latin language as may in
spire a young man with vanity, but
which cannot enable him to enter
into the spirit of the author, is cer
tainly ill bestowed. He who is de
signed for the common walksof life,
had much better be reading Win
gate's arithmetic than Cordery's
colloquies, and learning the rule of
three than the rules of syntax.
122,192. 4 8
1 5->743- »2
197,680. 20
4*3-583- 64
— 1,126,616. 44
Dots. Cts,
65,000
33,000
34,980
,57,c 7 8. 80
39'3°3- 52
4'.651. 73
44,161. 44
46 811. 13
49 6'9- 79
67,536. 98
459,273- 39
1,210,744. 34
Mode oj breaking Steers to the draft in
a few dayi.
T ET the farmer carefully yoke his
Steers in a close yard or ttable,
and not move thein till they get fuf
ficjeritly accustomed to the yoke, so.
that they will eat their food, when
yoked, which will be in the conrfe
of a day. Let them again be yoked
the second day, and a pairofgentle
horses or oxen fattened before them ;
in which state let them (laud until
they become familiar with said hors
es or oxen, which will generally be
efFecfted in one day,and the next day
the Steers may be yoked, the horses
or oxen put before them as usual,
and let them be fattened to a wag
gon or any other carriage ; they
fearing the carriage behind them,
and being accustomed to the old ox
en before, will proceed forward
wiißout being whipped or bruised.
The above process will iiev e t failcf
producing good working m.
[Whole No.
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