The time is not long passed when a
deficiency of foreign crops was thought to afford a profitable market
for the surplus of our industry, but now we await with feverish anxiety
the news of the English harvest, not so much from motives of commendable
sympathy, but fearful lest its anticipated failure should narrow the
field of credit there. Does not this speak volumes to the patriot? Can
a system be beneficent, wise, or just which creates greater anxiety for
interests dependent on foreign credit than for the general prosperity of
our own country and the profitable exportation of the surplus produce of
our labor?
The circumstances to which I have thus adverted appear to me to afford
weighty reasons, developed by late events, to be added to those which
I have on former occasions offered when submitting to your better
knowledge and discernment the propriety of separating the custody of the
public money from banking institutions. Nor has anything occurred to
lessen, in my opinion, the force of what has been heretofore urged.
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