[The Life of George Washington, Vol. 4 (of 5) by John Marshall]@TWC D-Link book
The Life of George Washington, Vol. 4 (of 5)

CHAPTER VI
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No specific motion, however, was made, and the subject was permitted to pass away for the present.
Scarcely were the debates on the address concluded, when several interesting reports were received from the secretary of the treasury, suggesting such further measures as were deemed necessary for the establishment of public credit.
It will be recollected that in his original report on this subject, the secretary had recommended the assumption of the state debts; and had proposed to enable the treasury to meet the increased demand upon it, which this measure would occasion, by an augmentation of the duties on imported wines, spirits, tea, and coffee, and by imposing duties on spirits distilled within the country.

The assumption not having been adopted until late in the session, the discussion on the revenue which would be required for this portion of the public debt did not commence, until the house had become impatient for an adjournment.

As much contrariety of opinion was disclosed, and the subject did not press,[51] it was deferred to the ensuing session; and an order was made, requiring the secretary of the treasury to prepare and report such further provision as might, in his opinion, be necessary for establishing the public credit.

In obedience to this order, several reports had been prepared, the first of which repeated the recommendation of an additional impost on foreign distilled spirits, and of a duty on spirits distilled within the United States.
The estimated revenue from these sources was eight hundred and seventy-seven thousand five hundred dollars, affording a small excess over the sum which would be required to pay the interest on the assumed debt.

The policy of the measure was discussed in a well digested and able argument, detailing many motives, in addition to those assigned in his original report, for preferring the system now recommended, to accumulated burdens on commerce, or to a direct tax on lands.
[Footnote 51: The interest on the assumed debt was to commence with the year 1792.] A new tax is the certain rallying point for all those who are unfriendly to the administration, or to the minister by whom it is proposed.


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