taking such rigorous self-destroying


stride. have been behind no member
Of the house Of Representatives in my
desire 10 place the nation III its best pos
I si5!e posture of defence. That We
/ might be prepared for the worst Of e
| vents, I moved 10 congress sometime
! since TO hold subject to sequesteration


the stock in the AFaerican funds, own-


ed by, (as we'll as the debts due toy Brit
/ isll subjects, as security for the good
behaviour of that nation. Since that
/ time many millions have been transfer


rgd into the hands of citizens Of a certain
J description, who will manage the thing
| according to the wishes and interests Of
the real owners. This was a measure


Of caution only, nol Of offence, and it
could not injure any honest American.
| supported the non-inpoitaticn law, *
| being determined not to repeal it, | vo-
ted against committing the petition


which prayed for its repeal. AT the
time That bill passed, l would have vO-
| ted totally 70 suspend our intercourse


with the British dominions, giving the
same time for the law to go into opera
ton. Such law, passed now, TO take
effect four, or six months hence, in case
negociatiOn should fail, would not have
! paralized that industrious and enterpri-
sing spirit, which constitutes the very
LIE and soul Of the nation No-indi-
vidual enterprise would have been left
to itself, and found innumerable other
means of action, producing new resour-
ces, and thereby adding to the wealth Of
! the community, as we'll as to the nation
/ al revenue.


A general enbarEo cannot fairly be


SAID TO possess single republican fea-
turc--it may be compared to an ape


plcXy it stops the circulation Of the


blood in the commercial system, and
extends its baneful Influence to the ag-
ricultural body: repeated fits will pro-
duce convuisions ard death il the pu-
lidcal, as well as in the physical world
lit is weapon which never fails to
wound those who use it; and however
necessary it may be TO WELD il when
negociltion shall have failed, | cannot
see no necessity for it now. Suppose


the negotiation should end unfayorably


two or three months hence, the Brit


ish minister must inform his govern


ment Of that cireumstance-and the


same wind that watts his ship to Eng
land, will convey the news Of our en-
barge. There viii be some American


vessels in British ports when that news
arrives and, are we certain that they
! will not be detained in consequence T?


Nothing worse can happen in case Of
an embargo two months hence. l viii
say no more on this point, not choos-
ing 10 consider this war measure.


" Ii you will follow Mr.. Smith in his


reasons for an embargo, you vii find
thcm equally applicable, TO any period


since tie affair OF the Chesapeake, dur
/ ing which time, and 'under an the en-
blrrassments and disadvantages that
nave existed, our ncrch .nts have been
suffered 70 be their own Judges the
county has been enriched by the prices
they have been able 10 afford for the
produce Of their lands and the trea-
sury has been replenished by the receipt


of about eight millions of dollars, a


sum much greater than would be re-
ceipted there in four years under the
embargo system. For my part, | can
4 see TO reason why, III der the same cir
. cumstances, the same course might not
have been pursued, during the negocia-
ton, thereby warding of, a little longer


that incalCnlaole mass Of individual


distress, which such measure cannot
fail 10 create.


But we are told that this is 70
preserve the resources Of the nation
! viii an unlimited embargo preserve the


national wealth | think not. The


wealth of the nation consists in the sur
! plus produce of the earth--if that sur
! plus must be or hand, il ceases TO be
wealth. Ii a farmer owes a sum of


money, and reaps good crop Of wheat
he calculates on this as a certain re-


source, and his neighbors call him rich !;


but when his hopes OF good market


are lost-when he finds his wheat will


fetch him nothing, and his debt re-


mains unpaid, and on interest too, he


feels poor indeed 1t is the same with


nation-the surplus produce Of our


lands, when markets fail, ceases to be


resource, except against famine, in
which case | hope il never will be need


ed. Ships laid up to rot, and discon-


ented starving seamcn aud fishermen.


are but poor resources. Many Of those