ABSTRACT
Mr. Hamilton's report reflected the public sentiment then existing, as well as the policy of Washington's administration and that established by the act of Congress. It constitutes, therefore, a source of most reliable information; and whilst its republication, on account of its length, is inexpedient, it may aid an intelligent inquirer to have its general principles brought to his mind. As Mr. Hamilton had to confute the assertions of the few who had then announced their theories of free commerce, it is necessary that they shall be fully comprehended, especially as some of them are yet supposed to possess merit. Some of these propositions, when merely glanced at, seem plausible; but, upon careful examination, they all appear specious and misleading. Mr. Hamilton overthrew them most successfully. Contrasting a domestic market with a foreign one, he expressed a decided preference for the former, because it was always more reliable.
