Every Power Vested In A Government Is

An Over-scrupulous Jealousy Of Danger To The Rights Of The People, Which Is More Commonly The Fault Of The Head Than Of The Heart, Will Be Represented As Mere Pretense And Artifice, The Stale Bait For Popularity At The Expense Of The Public Good.

For, When The Credit Of A Country Is In Any Degree Questionable, It Never Fails To Give On Extravagant Premium, In One Shape Or Another, Upon All The Loans It Has Occasion To Make. Nor Does The Evil End Here; The Same Disadvantage Must Be Sustained Upon Whatever Is To Be Bought On Terms Of Future Payment. From This Constant Necessity Of Borrowing And Buying Dear, It Is Easy To Conceive How Immensely The Expenses Of A Nation, In A Course Of Time, Will Be Augmented By An Unsound State Of The Public Credit.

That Experience Is The Parent Of Wisdom Is An Adage The Truth Of Which Is Recognized By The Wisest As Well As The Simplest Of Mankind.

What Is The Most Sacred Duty And The Greatest Source Of Our Security In A Republic? An Inviolable Respect For The Constitution And Laws.

The Regular Distribution Of Power Into Distinct Departments; The Introduction Of Legislative Balances And Checks; The Institution Of Courts Composed Of Judges Holding Their Offices During Good Behavior; The Representation Of The People In The Legislature By Deputies Of Their Own Election . . . They Are Means, And Powerful Means, By Which The Excellences Of Republican Government May Be Retained And Its Imperfections Lessened Or Avoided.