Little More Can Reasonably Be Aimed At

These Powers Ought To Exist Without Limitation, Because It Is Impossible To Foresee Or To Define The Extent And Variety Of National Exigencies, And The Correspondent Extent And Variety Of The Means Which May Be Necessary To Satisfy Them.

There Are Some Who Maintain That Trade Will Regulate Itself, And It Is Not To Be Benefited By The Encouragements Or Restraints Of Government. Such Persons Will Imagine That There Is No Need Of A Common Directing Power. This Is One Of Those Wild Speculative Paradoxes, Which Have Grown Into Credit Among Us, Contrary To The Uniform Practice And Sense Of The Most Enlightened Nations.

A National Debt If It Is Not Excessive Will Be To Us A National Blessing; It Will Be Powerfull Cement Of Our Union. It Will Also Create A Necessity For Keeping Up Taxation To A Degree Which Without Being Oppressive, Will Be A Spur To Industry.

If We Are In Earnest About Giving The Union Energy And Duration We Must Abandon The Vain Project Of Legislating Upon The States In Their Collective Capacities.

Of Those Men Who Have Overturned The Liberties Of Republics, The Greatest Number Have Begun Their Career By Paying An Obsequious Court To The People, Commencing Demagogues And Ending Tyrants.