tion of American commerce
in the Mediterranean sea, where it was continually exposed to the
depredations of corsairs of the Barbary powers.

He called their attention to regulations concerning the consular system
that had been proposed and partially established; to the creation of a
mint, the right of coinage being delegated to the federal government
alone; to a uniform system of weights and measures; to a reorganization
of the post-office system, and a uniform militia.

The two most important measures brought forward at the beginning of the
session were, a plan for a national bank, and a tax on ardent spirits
distilled within the United States. In a former communication to
Congress, the secretary of the treasury recommended the establishment of
a national bank, as a useful instrument in the management of the
finances of the country; and now, at the opening of a new session, he
presented a special report, in which the policy of such a measure was
urged with Hamilton's usual strength and acuteness of logic. He argued
upon premises resting on the alleged facilities afforded to trade by
banks, and the great benefits to be expected from a national one in a
commercial point of view. He chiefly dwelt upon the topic of the
convenience to the government of a paper medium in which to conduct its
monetary transactions, and especially as a ready resource for such
temporary loans as might from time to time be required.

Such reasons, utterly without force in the light of subsequent
experience, were wise and important at that time, and commended
themselves to the people of the United States, because they had not
forgotten the convenience afforded by the bank of North America,
established by Robert Morris in 1781, chiefly for the purpose of
assistance to himself in the difficult office of superintendent of
finance. That was the first experiment in America in the issue of a
currency redeemable at sight--a promissory note payable on demand--which
had been the practice of the bank of England for nearly a hundred years.
It was a system so much superior to the colonial loan-office plans, and
the scheme upon which the continental paper-money had been issued during
the earlier years of the war for independence, that the people generally
received Hamilton's recommendation with favor. But it met with
determined opposition in Congress. The anti-federal feeling which from
the close of 1789 had manifested itself, principally in criticisms upon