no one left to borrow from, so
must it be with a government.

We repeat, then, that a tariff sufficient for revenue, or a direct tax,
must soon be resorted to; and, indeed, we believe this alternative is
now denied by no one. But which system shall be adopted? Some of our
opponents, in theory, admit the propriety of a tariff sufficient for
a revenue, but even they will not in practice vote for such a tariff;
while others boldly advocate direct taxation. Inasmuch, therefore, as
some of them boldly advocate direct taxation, and all the rest--or so
nearly all as to make exceptions needless--refuse to adopt the tariff,
we think it is doing them no injustice to class them all as advocates
of direct taxation. Indeed, we believe they are only delaying an open
avowal of the system till they can assure themselves that the people
will tolerate it. Let us, then, briefly compare the two systems. The
tariff is the cheaper system, because the duties, being collected in
large parcels at a few commercial points, will require comparatively few
officers in their collection; while by the direct-tax system the land
must be literally covered with assessors and collectors, going forth
like swarms of Egyptian locusts, devouring every blade of grass and
other green thing. And, again, by the tariff system the whole revenue is
paid by the consumers of foreign goods, and those chiefly the luxuries,
and not the necessaries, of life. By this system the man who contents
himself to live upon the products of his own country pays nothing at
all. And surely that country is extensive enough, and its products
abundant and varied enough, to answer all the real wants of its people.
In short, by this system the burthen of revenue falls almost entirely on
the wealthy and luxurious few, while the substantial and laboring many
who live at home, and upon home products, go entirely free. By the
direct-tax system none can escape. However strictly the citizen may
exclude from his premises all foreign luxuries,--fine cloths, fine
silks, rich wines, golden chains, and diamond rings,--still, for
the possession of his house, his barn, and his homespun, he is to be
perpetually haunted and harassed by the tax-gatherer. With these views
we leave it to be determined whether we or our opponents are the more
truly democratic on the subject.

The third resolution declares the necessity and propriety of a national
bank. During the last fifty years so much has been said and w