Martin Van Buren's Calumnies Repudiated. Hamilton's Conduct As Secretary of the Treasury Vindicated

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326) : " If a loan should be thought eligible, it is submitted, as most advis- able, to accompany it with a provision sufficient not only to pay the interest, but to discharge the principal within a short period." Again : " From the most careful view which he is able to take of all the circumstances at the present juncture, he is led to con- clude that the most eligible mode is to impose additional duties on imported articles." He adds (p. 333): "The foregoing duties to be permanently establish...ed, and to be appropriated, in the first place, to the payment of the interest of the public debt ; in the second, to such other grants and appropriations as have been heretofore made." By the Act passed August 10th, 1T90, it is declared " that the duties laid by this Act shall continue until the debts and purposes for which they are appropriated shall be satisfied ; re- serving, however, a right to Congress to substitute other duties or taxes of equal value." An Act was passed 3d March, 1Y91, which increased certain duties, and added, on others, higher rates of duties (p.

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