If, on the one hand, it should be observed that the expenses incurred in
the prosecution of the ambitious enterprises and vainglorious pursuits
of a monarchy are not a proper standard by which to judge of those which
might be necessary in a republic, it ought, on the other hand, to be
remarked that there should be as great a disproportion between the
profusion and extravagance of a wealthy kingdom in its domestic
administration, and the frugality and economy which in that particular
become the modest simplicity of republican government. If we balance a
proper deduction from one side against that which it is supposed ought
to be made from the other, the proportion may still be considered as
holding good.
But let us advert to the large debt which we have ourselves contracted
in a single war, and let us only calculate on a common share of the
events which disturb the peace of nations, and we shall instantly
perceive, without the aid of any elaborate illustration, that there must
always be an immense disproportion between the objects of federal and
state expenditures. It is true that several of the States, separately,
are encumbered with considerable debts, which are an excrescence of the
late war.
Pages:
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338