twelve and an half per centum on its capitation value, to the creditor interest, for the exchisive items of debt and
bank stock. This profit for their masters, made by those
who are called freemen, greatly exceeds what is generally
made by those who are called slaves. But as nothing ig
calculated except two items, by including the payments for
useless offices, excessive salaries, and fat sinecures, it ig
evident that one interest makes out of the other, a far
greater profit than if it had ^old this other, and placed the
money in the most productive state of usance.
Such is the freeman of paper and patronage. Had Diogenes lived until this day, he would have unfledged a cock once more, and exhibited him as an emblem, not of Plato's man, but of a freeborn Englishman. Had Sancho known of a paper stock system, he would not have wished for the government of an island inhabited by negroes. Has Providence used this system to avenge the Africans, upon the Europeans and Americans?
Whatever destroys an unity of interest between a government and a nation, infallibly produces oppression and hatred. Human conception is unable to invent a schemcy more capable of afflicting mankind with these evils, than that of paper and patronage. It divides a nation into two groups, creditors and debtors; the first supplying its want of physical strength, by alliances with fleets and armies, and practising the most unblushing corruption. A consciousness of inflicting or suffering injuries, fills each with malignity towards the other. This malignity first begets a multitude of penalties^ punishments and executions, and then vengeance.
A legislature, in a nation where the system of paper and patronage prevails, will be governed by that interest, and legislate in its favour. It is impossible to do this, without legislating to the injury of the other interest, that is, the great mass of the nation. Such a legislature will create unnecessary offices, that themselves or their relations may be endowed with them. They will lavish the revenue.
