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year； so that each American impressed has already cost them ten
thousand dollars； and every year will add five thousand dollars more
to his price。 We； I suppose； expend more； but had we adopted the
other alternative of submission； no mortal can tell what the cost
would have been。 I consider the war then as entirely justifiable on
our part； although I am still sensible it is a deplorable misfortune
to us。 It has arrested the course of the most remarkable tide of
prosperity any nation ever experienced； and has closed such prospects
of future improvement as were never before in the view of any people。
Farewell all hopes of extinguishing public debt！ farewell all visions
of applying surpluses of revenue to the improvements of peace rather
than the ravages of war。 Our enemy has indeed the consolation of
Satan on removing our first parents from Paradise： from a peaceable
and agricultural nation； he makes us a military and manufacturing
one。 We shall indeed survive the conflict。 Breeders enough will
remain to carry on population。 We shall retain our country； and
rapid advances in the art of war will soon enable us to beat our
enemy； and probably drive him from the continent。 We have men
enough； and I am in hopes the present session of Congress will
provide the means of commanding their services。 But I wish I could
see them get into a better train of finance。 Their banking projects
are like dosing dropsy with more water。 If anything could revolt our
citizens against the war； it would be the extravagance with which
they are about to be taxed。 It is strange indeed that at this day；
and in a country where English proceedings are so familiar； the
principles and advantages of funding should be neglected； and
expedients resorted to。 Their new bank； if not abortive at its
birth； will not last through one campaign； and the taxes proposed
cannot be paid。 How can a people who cannot get fifty cents a bushel
for their wheat； while they pay twelve dollars a bushel for their
salt； pay five times the amount of taxes they ever paid before？ Yet
that will be the case in all the States south of the Potomac。 Our
resources are competent to the maintenance of the war if duly
economized and skillfuly employed in the way of anticipation。
However； we must suffer； I suppose； from our ignorance in funding； as
we did from that of fighting； until necessity teaches us both； and；
fortunately； our stamina are so vigorous as to rise superior to great
mismanagement。 This year I think we shall have learnt how to call
forth our force； and by the next I hope our funds； and even if the
state of Europe should not by that time give the enemy employment
enough nearer home； we shall leave him nothing to fight for here。
These are my views of the war。 They embrace a great deal of
sufferance； trying privations； and no benefit but that of teaching
our enemy that he is never to gain by wanton injuries on us。 To me
this state of things brings a sacrifice of all tranquillity and
comfort through the residue of life。 For although the debility of
age disables me from the services and sufferings of the field； yet；
by the total annihilation in value of the produce which was to give
me subsistence and independence； I shall be like Tantalus； up to the
shoulders in water； yet dying with thirst。 We can make indeed enough
to eat； drink and clothe ourselves； but nothing for our salt； iron；
groceries and taxes； which must be paid in money。 For what can we
raise for the market？ Wheat？ we can only give it to our horses； as
we have been doing ever since harvest。 Tobacco？ it is not worth the
pipe it is smoked in。 Some say Whiskey； but all mankind must become
drunkards to consume it。 But although we feel； we shall not flinch。
We must consider now； as in the revolutionary war； that although the
evils of resistance are great； those of submission would be greater。
We must meet； therefore； the former as the casualties of tempests and
earthquakes； and like them necessarily resulting from the
constitution of the world。 Your situation； my dear friend； is much
better。 For； although I do not know with certainty the nature of
your investments； yet I presume they are not in banks； insurance
companies； or any other of those gossamer castles。 If in
ground…rents； they are solid； if in stock of the United States； they
are equally so。 I once thought that in the event of a war we should
be obliged to suspend paying the interest of the public debt。 But a
dozen years more of experience and observation on our people and
government； have satisfied me it will never be done。 The sense of
the necessity of public credit is so universal and so deeply rooted；
that no other necessity will prevail against it； and I am glad to see
that while the former eight millions are steadfastly applied to the
sinking of the old debt； the Senate have lately insisted on a sinking
fund for the new。 This is the dawn of that improvement in the
management of our finances which I look to for salvation； and I trust
that the light will continue to advance； and point out their way to
our legislators。 They will soon see that instead of taxes for the
whole year's expenses； which the people cannot pay； a tax to the
amount of the interest and a reasonable portion of the principal will
command the whole sum； and throw a part of the burthens of war on
times of peace and prosperity。 A sacred payment of interest is the
only way to make the most of their resources； and a sense of that
renders your income from our funds more certain than mine from lands。
Some apprehend danger from the defection of Massachusetts。 It is a
disagreeable circumstance； but not a dangerous one。 If they become
neutral； we are sufficient for one enemy without them； and in fact we
get no aid from them now。 If their administration determines to join
the enemy； their force will be annihilated by equality of division
among themselves。 Their federalists will then call in the English
army； the republicans ours； and it will only be a transfer of the
scene of war from Canada to Massachusetts； and we can get ten men to
go to Massachusetts for one who will go to Canada。 Every one； too；
must know that we can at any moment make peace with England at the
expense of the navigation and fisheries of Massachusetts。 But it
will not come to this。 Their own people will put down these
factionists as soon as they see the real object of their opposition；
and of this Vermont； New Hampshire； and even Connecticut itself；
furnish proofs。
You intimate a possibility of your return to France； now that
Bonaparte is put down。 I do not wonder at it； France； freed from
that monster； must again become the most agreeable country on earth。
It would be the second choice of all whose ties of family and fortune
gives a preference to some other one； and the first of all not under
those ties。 Yet I doubt if the tranquillity of France is entirely
settled。 If her Pr