Political Economy* 229 
may want protection, and the adoption of measures to 
prevent inconvenient interference of foreigners ; while the 
watchful care of government may be needful, to see that 
labour and capital are not entirely diverted from those ob- 
jects of necessary supply and public security, which the 
welfare of the community may imperiously demand. 
As the subject of public finances forms an important 
branch of political economy, these observations will be 
finished with remarking, that the employment of public 
credit, for useful purposes, in a young and growing coun° 
try, if within the bounds of its capacity to repay, may be 
judicious; like the loans to young industrious traders ; 
while the accumulation of debt by a nation, for unprofi- 
table purposes, can only be attended with the wuder misr 
chief, the further and longer it is extended ; for no modi- 
fications or changes of debt, by means of any combination 
or institution, will furnish any real or permanent relief, 
except provision is made by a surplus revenue ; although 
by taking up floating paper, a sinking fund, so called, 
may enhance the market value of stock, and thus extend 
the power of government, ]VL 
Massachusetts* 
I make no remark on the above, because I do not 
want now to prolong this discussion. Having inserted 
Dr. Bollman’s essay, and the above paper, it must sufi 
fice for the present. Hereafter perhaps I may insert my 
abridgment of Ganilh^ with notes, and then close the sifb*- 
ject. T« C, 
