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of the branch bank of the United States, James Davidson, esquire, that of general treasurer to the subscribers. Both of these officers are to have each a vote, at every meeting of the original trustees. It has been also stated, that on account of their known zeal for the object, as well as their convenient residence, the following gentlemen would be asked to unite with the trustees, for the promotion of the entire plan, in any way within the views of Washington, that to them might seem meet, viz. George Washington Custis, esquire, and colonel John P. Van Ness, president of the branch bank of the United States, at Washington.

It is left to the discretion of a majority of the trustees, at any of their meetings, to commence one of the buildings on such ground as they may deem proper, after consulting the president of the United States, with due deference to his opinion, in aid of the views of Washington, and of the entire plan of his subscribing followers.

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The building the present trustees are authorized to erect, shall be of free stone, in a suitable stile for one of the libraries, or for a museum, to be immediately improved as such, by depositing,therein all the books, models, relicks, antiquities, and valuable donations of evéry kind, suited to a library, museum, and to all the future views of the society; for the care of these models, books, &c the secretary will be responsible.

It is also within the duty of the treasurer and secretary, to see that the funds collected by any of the other volunteer agents are duly invested at compound interest, in any species of productive stocks, or minor republican monied institutions, that the original subscribers in the several districts may direct; and where there are no particular directions on the part of the subscribers, the monies are to be sent to the general treasurer, at Washington, with the certificates of the stocks invested agreeably to the general form: In trust for the university and monument of Washington, and notice given thereof to the general secretary for record on the books of the university.

It shall be the duty of the secretary to make known at discretion, to all the friends of science in Europe and universally, that presents are admitted from any quarter of the globe, either to the museum or library, and that foreigners (although not admitted in the list of contributors to the monumental pile, in honor of the father of his country) may, nevertheless, contribute to the endowment of the universi ty, in any way consistent with the liberal and honorable views of an institution at which the youth of all nations are to be admitted on equal terms, excepting only in the provision for the free education of indigent youth of genius only, who intend to remain citizens of the United States.

The secretary shall publish at any time, such parts of the proceedings and progress of the subscription and work, after it commences, as he may think proper, or as in due respect to the subscribers and trustees it may be his duty to make known.

ECONOMY.
THOUGHTS

ON A PLAN OF ECONOMY (SUITED TO THE CRISIS OF 1808) FOR THE UNITED STATES OF AMERICA.

Friends and Countrymen,

The jealousies that followed Columbus and all our enterprizing ances tors to the western world, though sometimes suspended, are again at work to check the rapid growth of the second commercial nation of the universe.

We feel for our fishermen, for our seamen, and for all our fellow citizens, whose commercial avocations are now interdicted by the arbitrary mandates of European powers at war.

But perhaps in the sequel it will be found, as in our former struggle for independence against similar insults, that those who have attempted to injure us will alone have cause to repent their temerity. If alive to our duty, we are prompt in our preparations to meet or to bear momentary privatioas in a few articles in dress we may ultimately gain by momentary losses.

Is it not obvious that the causes which tempted many of our ancestors to change their original occupations for agriculture were the result of calculations, by which it was manifest that wherever prime lands were attainable at less than one tenth of their tested and acknowledged value, hy the experience of Europe, the value of labor thereon may be proportionate to the difference or to the savings of the purchaser. Hence every prudent emigrant to our new country, has preferred to labor on his own farm if he had either the means or the credit to procure one at the prices, common to this, but unknown in any country in the old world. Perhaps this, the original cause of our preference given to agricultural labor, is yet unknown to those Europeans who are endeavoring to effect a change that time and a consequent increase in our population would have produced without their aid. Already we see, in some of our cities, and in all those parts of our country that have a population of above thirty persons to a inile, a great addition to the few mechanical trades that were originally necessary to aid agricultural plans of primary importance. While we were gainers by a fair exchange of food, of cotton, &c. for luxuries, with agents for the cold and hungry manufacturing citizens of Europe, we were pleased with a commerce that FED THE HUNGRY AND CLOATHED THE NAKED; while we carried to Europe and their dependencies food for more persons than are annually employed in Great Britain, in all their manufactories; when we took in return therefor, articles that they could well spare with the chief benefit to themselves: And yet we are checked in this! the principal result of our commerce! in all its relations to those who now endeavor to restrain our growth by starving their own citizens! But if an ERSKINE with all his eloquence and with his incontrovertible truths, was unheard, the voice of an American will have no effect to restore reason to Europe, or to promote an unfashionable effort for the freedom of commerce, to increase the numbers, the industry, the wealth, and the harmony of mankind. It

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of the branch bank of the United States, James Davidson, esquire, that of general treasurer to the subscribers. Both of these officers are to have each a vote, at every meeting of the original trustees. It has been also stated, that on account of their known zeal for the object, as well as their convenient residence, the following gentlemen would be asked to unite with the trustees, for the promotion of the entire plan, in any way within the views of Washington, that to them might seem meet, viz. George Washington Custis, esquire, and colonel John P. Van Ness, president of the branch bank of the United States, at Washington.

It is left to the discretion of a majority of the trustees, at any of their meetings, to commence one of the buildings on such ground as they may deem proper, after consulting the president of the United States, with due deference to his opinion, in aid of the views of Washington, and of the entire plan of his subscribing followers.

The building the present trustees are authorized to erect, shall be of free stone, in a suitable stile for one of the libraries, or for a museum, to be immediately improved as such, by depositing,therein all the books, models, relicks, antiquities, and valuable donations of every kind, suited to a library, museum, and to all the future views of the society; for the care of these models, books, &c the secretary will be responsible.

It is also within the duty of the treasurer and secretary, to see that the funds collected by any of the other volunteer agents are duly invested at compound interest, in any species of productive stocks, or minor republican monied institutions, that the original subscribers in the several districts may direct; and where there are no particular directions on the part of the subscribers, the monies are to be sent to the general treasurer, at Washington, with the certificates of the stocks invested agreeably to the general form: In trust for the university and monument of Washington, and notice given thereof to the general secretary for record on the books of the university.

It shall be the duty of the secretary to make known at discretion, to all the friends of science in Europe and universally, that presents are admitted from any quarter of the globe, either to the museum or library, and that foreigners (although not admitted in the list of contributors to the monumental pile, in honor of the father of his country) may, nevertheless, contribute to the endowment of the university, in any way consistent with the liberal and honorable views of an institution at which the youth of all nations are to be admitted on equal terms, excepting only in the provision for the free education of indigent youth of genius only, who intend to remain citizens of the United States.

The secretary shall publish at any time, such parts of the proceedings and progress of the subscription and work, after it commences, as he may think proper, or as in due respect to the subscribers and trustees it may be his duty to make known.

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ECONOM T

THOUGHTS

ON A PLAN OF ECONOMY (SUITED TO THE CRISIS OF 1808) FOR THE UNITED STATES OF AMERICA.

Friends and Countrymen,

The jealousies that followed Columbus and all our enterprizing ances tors to the western world, though sometimes suspended, are again at work to check the rapid growth of the second commercial nation of the universe.

We feel for our fishermen, for our seamen, and for all our fellow citizens, whose commercial avocations are now interdicted by the arbitrary mandates of European powers at war.

But perhaps in the sequel it will be found, as in our former struggle for independence against similar insults, that those who have attempted to injure us will alone have cause to repent their temerity. If alive to our duty, we are prompt in our preparations to meet or to bear momentary privatioas in a few articles in dress we may ultimately gain by momentary losses.

Is it not obvious that the causes which tempted many of our ancestors to change their original occupations for agriculture were the result of calculations, by which it was manifest that wherever prime lands were attainable at less than one tenth of their tested and acknowledged value, hy the experience of Europe, the value of labor thereon may be proportionate to the difference or to the savings of the purchaser. Hence every prudent emigrant to our new country, has preferred to labor on his own farm if he had either the means or the credit to procure one at the prices, common to this, but unknown in any country in the old world. Perhaps this, the ori ginal cause of our preference given to agricultural labor, is yet unknown to those Europeans who are endeavoring to effect a change that time and a consequent increase in our population would have produced without their aid. Already we see, in some of our cities, and in all those parts of our country that have a population of above thirty persons to a inile, a great addition to the few mechanical trades that were originally necessary to aid agricultural plans of primary importance. While we were gainers by a fair exchange of food, of cotton, &c. for luxuries, with agents for the cold and hungry manufacturing citizens of Europe, we were pleased with a commerce that FED THE HUNGRY AND CLOATHED THE NAKED; while we carried to Europe and their dependencies food for more persons than are annually employed in Great Britain, in all their manufactories; when we took in return therefor, articles that they could well spare with the chief benefit to themselves: And yet we are checked in this! the principal result of our commerce! in all its relations to those who now endeavor to restrain our growth by starving their own citizens! But if an ERSKINE with all his eloquence and with his incontrovertible truths, was unheard, the voice of an American will have no effect to restore reason to Europe, or to promote an unfashionable effort for the freedom of commerce, to increase the numbers, the industry, the wealth, and the harmony of mankind. It

would be easy to swell this introduction by new arguments to place the folly of the belligerent powers in a stronger light, but this is not my present object: It is to shew from new but solid data, that for some of the princi pal manufactures of Europe we are already ripe, from the ascertained increase and still rapidly increasing population, doubling in less than twentythree years; by which in many instances the enhanced value of land near our principal cities, and for some entire states, has rendered agriculture less profitable for the capital and stock employed than many branches of manufacture suited to our country both for our consumption and commerce.To point out these, and to select the few that are the best suited to joint stock institutions, with a chance for profit even if a sudden reverse of the present restrictions should promote a return of our commerce with Europe, is the main object now in the view of the writer of this essay. The merits of which, if any, can only be known by a full investigation of the facts on which the whole must finally depend.

I shall here offer a few statistical views shewing the last year's increase of the United States in their population and general wealth, with several years exports, &c. for on these views the arguments I have to offer will chiefly depend. The table B will evince the truth of my assertion that we have exported provisions sufficient for all the persons employed in manufactories in Britain, green vegetables and milk excepted. The entire manufactories of Britain are now equal to 350 millions of dollars, of which they consume near 170 millions at home; and during the last year only sold to us near 40 millions of dollars, of which one third were in all kinds of cotton goods, from our own staple. The whole of the cotton manufactured in G. Britain, in 1807, was but little more than equal to half of their last year's importation, viz. 60 millions of pounds; half of which was again exported. Ten millions of lbs. of cotton, which did not average to the planter more than 20 cents, or two millions of dollars for the whole, was the entire quantity necessary for the 13 millions value in cotton goods that we imported the same year: But as the manufacturer at Manchester paid 40 cents on an average, or one hundred per centum on the original American cost, the prospect for a saving by our home manufactory would be obvious, even if the sum of twenty-five per centum, a fair average for the charges of insurance, of freight, of commissions, and of custom-house duties on importation, were not included. These charges of 25 per cent. are common to other imported goods; but the great saving on the raw materials is confined to cotton goods and to hats made of American furs, to gloves of American peltry, and a few articles of little value compared with those of which our own cotton is the staple, and the amount imported near one third the value of all we receive from Great Britain. That these estimates may be better understood, the following tables are presented in order to assist in our important enquiry.

Should an investigation of the facts on which these thoughts are predi cated ever become fashionable, the business of legislation, of public and of private economy, will become plain to many who are now so much at a loss how to direct their patriotic and social dispositions and exertious, that they dare do nothing, lest they should do wrong.

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