be expected that the deficiencies would be better supplied
in this mode than the total wants of the Union have heretofore been
supplied in the same mode? It ought to be recollected that if less will
be required from the States, they will have proportionably less means
to answer the demand. If the opinions of those who contend for the
distinction which has been mentioned were to be received as evidence of
truth, one would be led to conclude that there was some known point in
the economy of national affairs at which it would be safe to stop and to
say: Thus far the ends of public happiness will be promoted by supplying
the wants of government, and all beyond this is unworthy of our care or
anxiety. How is it possible that a government half supplied and always
necessitous, can fulfill the purposes of its institution, can provide
for the security, advance the prosperity, or support the reputation of
the commonwealth? How can it ever possess either energy or stability,
dignity or credit, confidence at home or respectability abroad? How can
its administration be any thing else than a succession of expedients
temporizing, impotent, disgraceful? How will it be able to avoid a
frequent sacrifice of its engagements to immediate necessity? How can it
undertake or execute any liberal or enlarged plans of public good?

Let us attend to what would be the effects of this situation in the very
first war in which we should happen to be engaged. We will presume, for
argument's sake, that the revenue arising from the impost duties
answers the purposes of a provision for the public debt and of a peace
establishment for the Union. Thus circumstanced, a war breaks out. What
would be the probable conduct of the government in such an emergency?
Taught by experience that proper dependence could not be placed on the
success of requisitions, unable by its own authority to lay hold of
fresh resources, and urged by considerations of national danger,
would it not be driven to the expedient of diverting the funds already
appropriated from their proper objects to the defense of the State? It
is not easy to see how a step of this kind could be avoided; and if it
should be taken, it is evident that it would prove the destruction of
public credit at the very moment that it was becoming essential to
the public safety. To imagine that at such a crisis credit might be
dispensed with, would be the extreme of infatuation. In the modern
system of war, nations