[The Life of George Washington, Vol. 5 (of 5) by John Marshall]@TWC D-Link bookThe Life of George Washington, Vol. 5 (of 5) CHAPTER II 18/77
She entitled herself, too, to the preference which was given her, by the extensive credit she afforded.
To a young country wanting capital, credit was of immense advantage.
It enabled them to flourish by the aid of foreign capital, the use of which had, more than any other circumstance, nourished the industry of America. By the advocates for forcing a trade with France, it was asserted that she could supply the wants of America on better terms than Great Britain.
To do this, she must not only sell cheaper, but give credit, which, it was known her merchants either could not, or would not give. The very necessity of laying a duty on British manufactures, in order to find a sale for those of other countries, was a proof that the first could be purchased on better terms, or were better adapted to the market. If the object of the resolutions were the encouragement of domestic manufactures, there might be some semblance of argument in their favour.
But this is not contemplated.
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