The emancipated Colonies found therefore in the mother country the most resolute foe to their manufacturing and commercial progress.

American statesmen exhibited wisdom, moderation, and foresight in overcoming the obstacles to the material prosperity of the new Republic.
When the administration of Washington was organized in 1789, the government which he represented did not command a single dollar of revenue.

They inherited a mountain of debt from the Revolutionary struggle, they had no credit, and the only representative of value which they controlled was the vast body of public land in the North- west Territory.

But this was unavailable as a resource for present needs, and called for expenditure in the extensive surveys which were a prerequisite to sale and settlement.

In addition therefore to every other form of poverty, the new government was burdened in the manner so expressively described as _land poor_, which implies the ownership of a large extent of real estate constantly calling for heavy outlay, and yielding no revenue.