The more intelligent adversaries of the new Constitution admit the force
of this reasoning; but they qualify their admission by a distinction
between what they call INTERNAL and EXTERNAL taxation. The former they
would reserve to the State governments; the latter, which they explain
into commercial imposts, or rather duties on imported articles, they
declare themselves willing to concede to the federal head. This
distinction, however, would violate the maxim of good sense and sound
policy, which dictates that every POWER ought to be in proportion to its
OBJECT; and would still leave the general government in a kind of
tutelage to the State governments, inconsistent with every idea of vigor
or efficiency. Who can pretend that commercial imposts are, or would be,
alone equal to the present and future exigencies of the Union? Taking
into the account the existing debt, foreign and domestic, upon any plan
of extinguishment which a man moderately impressed with the importance
of public justice and public credit could approve, in addition to the
establishments which all parties will acknowledge to be necessary, we
could not reasonably flatter ourselves, that this resource alone, upon
the most improved scale, would even suffice for its present necessities.
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