iuadiiig Rfid patronage; the other, of a funding; system, bank
charters, pensions and patronage. Which class would be
the disciple and parasite of despotism? If this is discernible, the consequence of erecting this modern species of aristocracy is also discernible.,
The exact similarity in nature and principle, between laws or charters establishing funding systems, banks, or sinecure profit of any kind; and laws or charters establishing privileged orders or endowed hierarchies; appears in their common union with, and devotion to, a power capable of protecting injustice.
It is still objected " that unless laws, beneficial to individuals, though injurious to a nation, are biipported, confidence in government will be destroyed, and national credit, lost." The doctrine amounts to this; "that it is good policy in u uation, to make a few individuals its masters or owners, to excite an inclination in these few individuals to lend it money, for a handsome premium and high interest." And this policy is literally pursued, by establishing a certain number of paper systems and charters, for drawing money from the nation directly or indirectly, in order to enable a few to lend a part of this money to the nation.
To this item cf the value of a confidence "that laws and charters, injurious to a nation, but beneficial to individuals, will be maintained," must be added a corruption of manners, arising from the traffick between a government and a faction, for the objects of gratifying the ambition of one dealer, and the avarice of the other; and the customary violent and wretched parties, between the commencement of this confidence and its catastrophe.
On the other band, a confidence that laws and charters: injurious to a nation, will be repealed, whenever their pernicious tendency is discovered, will prevent the destructive evils generated by u contrary opinion | will enable honest governments to correct the frauds of knavish; and will check or even cure the malevolence of factions. And one
