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Subject Area: Economics
Subject Area: Political Theory

NOTE ON THE PARAGRAPH ENTITLED “UNIVERSITY.” - Albert Gallatin, The Writings of Albert Gallatin, vol. 1 [1879]

Edition used:

The Writings of Albert Gallatin, ed. Henry Adams (Philadelphia: J.B. Lippincott, 1879). 3 vols.

Part of: The Writings of Albert Gallatin, 3 vols.

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NOTE ON THE PARAGRAPH ENTITLED “UNIVERSITY.”

[22d November, 1806.]

From yesterday’s conversation I thought it was agreed to restore (after the words “an accumulation of moneys in the Treasury”) the words “will ere long take place” instead of “is now taking place,” as sufficiently correct and less likely to furnish an argument against the limited extension of the Mediterranean fund, which is proposed.

It is true that, not this year, but as early as 1807, the accumulation will take place if Florida is not purchased. But if that purchase takes place, all the surpluses for 1807 and 1808, including the Mediterranean fund, which is wanted for that very purpose, will be absorbed by the payment, and the accumulation will commence only in 1809. It seems to me that that correction will not affect any part of the message, and that all which follows to the end will read very well, and is quite consistent with the restoration I propose. The word system has not been introduced as connected with fortifications. But I still think that for the sake of expressing an abstract opinion which is perhaps too general, the risk is incurred of killing the proposed amendment and university, and of politically losing the city and State of New York.