This session of Congress was, upon the whole, productive of benefit to the Union; for though the far greater part of the time was taken up in long discussions of unimportant subjects, the committees of the two houses applied themselves to an arrangement of the finances, which must have a lasting effect on the affairs of the nation. The faction opposed to the federal government endeavoured to excite a hatred against it, by constantly dwelling on the increase of the taxes and of the national debt. It was very true that both had increased; but the increase was fairly attributed to the faction, which had encouraged France to adopt those measures which had compelled the federal government to have recourse to armaments, naval and military.

The national debt, at the end of the session stood thus :

Amount six per cent stock, &c. 28,246,042 96

The amount of the increase, as here stated, was said, by the federal secretary of the treasury, to exceed the reality; but GALLATIN, who has since published a history of the debt, has certainly proved the correctness of this statement. I do not like GALLATIN; he has always been of the French faction; but, in a question which admits of arithmetical demonstration, he is to be believed as well as another man.

The

The most unfavourable circumstance which presents itself as to this debt, is, that it has increased thus much during ten years of peace, notwithstanding the aid of numerous and heavy taxes. trade and commerce of the country have been loaded till they are ready to sink under the weight of the burden; an excise, a stamp act, a land tax, a house tax, a tax on slaves, and divers other direct imposts have been imposed, and have created discontents, which will always be ready to break out into open revolt.

When people speak of the national debt, and the expenses of government, in America, they forget that there are sixteen state governments, whose debt and expenses ought to be added to the account. And when they speak of the taxes in America, they never make any mention of the various taxes, direct and indirect, that these sixteen governments have imposed. The following report

of

of proceedings in the legislature of Virginia, will give the reader some idea of the finances of the individual States, and will probably set the eulogists of republican government to calculating, before they again repeat their abominable deceptions respecting the cheapness of that sort of govern

ment.

Estimate of the Expenses of the Civil Government for the current Year.

"Mr. Andrews reported, from the committee appointed to prepare an estimate of the expenses of the civil government, and to report their opinion of the provision which ought to be made for the support of the same, and for the payment of the public debt, that the committee had, according to order, prepared the same, and agreed upon a report, which he read in his place, and then delivered in at the clerk's table, where the same was twice read, and is as follows:

"Estimate of the Expenses of the Civil Government, &c. from October 1, 1797, to October 1, 1798.

Dols. Cts.

"To answer the claims which will accrue as

above stated, there is the following provision, viz.

1

"As no other fund can be made productive in time to answer the above deficiency of 40,426 dollars and 39 cents, there is a necessity of relying on the arrearages for that purpose, though experience does not permit the committee to be sanguine in their expectations from that source. The following was the state of the arrearages on the 1st day of October, 1797:

Arrearages of the Revenue Taxes prior to 1790

Do. of do. posterior to 1789

On the 1st day of October, they amounted altogether to

The diminution within the last year has therefore been only

The arrearages of the Certificate
Taxes are stated to be

Dols. Cts.

213,273 10

57,287 99

270,561 9

282,179 69

11,618 60

207,561 9

102,226 20

"The committee find, that the permanent an

nual expenditures cannot be estimated at a less sum

E2

than