buy, at the prices which paper monopoly shall settle. If
the code of pillage contains a law, allowing one nation to
pilfer another, that of social justice contains none, by which
the idea, of enabling an artificial interest, directly or indirectly, to force down or regulate the prices of the natural
interests in the same community, can be defended.
No benefit arises to a nation from such an operation. It merely creates a rich order, by creating a poor order. The wealth obtained from the foreign nation by the reductions imposed upon the price of labour at home, is only taken by force or fraud from that labour, and given lo stock capitalists. This is precisely the species of excitement produced by the English, and all other paper systems. National, social and moral law unite in pronouncing il to be unjust.
And however it may enrich a few, it impoverishes and oppresses a multitude, and changes commerce into a national curse. It becomes a blessing, whenever one nation can undersell another; not when an order or several merchants, are enabled to undersell foreign merchants, at the expense of fellow-citizen manufacturers. It is no benefit to the plundered, that the robber can undersell a fair purchaser.
The rival modes for enabling one nation to undersell another, are, the English, composed of force, fraud and paper, and calculated to render labour subservient to avarice, by bestowing on the latter the power of regulating wages; and that, which acquires the same advantage from the moderation, freedom and cheapness of the government. By this system the United States have successfully rivalled Europe, and obtained a degree of prosperity not embittered by the reflection of having killed and plundered foreign nations, and oppressed fellow-citizens, for the sake of commerce.
If paper systems are in their nature suitable to legislature corruption, aristocracy and monarchy; and if the momentum they bestow upon commerce, will enrich a few and impoverish a multitude of the same nation; yet, it is still
