I have seen what the future holds, Abigail. Men and manners, principles, opinions. They've altered very much in this country. Authority is our only protection against discord, civil war and sedition. Now the office of the president, no doubt, is sufficient to establish such authority. But we must not be surprised if we ever find we need a monarch -
- to keep your thoughts to yourself, John! People will say that your mind has been tainted by foreign courts. They are already saying such things in Boston.
I've been, as you know, in revolutionary France, where the streets are filled with the songs of Liberty and Brotherhood, and the overthrow of ancient tyrannies of Europe. And to return from there to this, our cradle of revolution, and find the dinner table chatter is all of money, and banks, and authority, is an unwelcome surprise.
Our first step would be to incur a national debt. The greater the debt, the greater the credit. And to that end I have recommended to the president that Congress adopt all the debts incurred by the individual states during the war through a national bank. The idea being that if the states owe Congress money, then other nations will feel more inclined to lend it to us.
The moneyed interest in this country is all in the north, so the wealth and power would inevitably be concentrated there in a federal government. To the expense of the south.
I fear our revolution will have been in vain if a Virginia farmer is to be held in hock to a New York stock jobber, who in turn is in hock to a London banker. The opportunities for avarice and corruption would certainly prove irresistible.
