It is admitted on all sides that we must equalize the revenue and expenditures. The scheme of borrowing to make up an increasing deficit must, in the end, if continued, prove ruinous.

In 1828 we raised the duties, on an average, to nearly fifty per cent, when the debt was on the eve of being discharged, and thereby flooded the country with a revenue, when discharged, which could not be absorbed by the most lavish expenditures.

The country is filled with energetic and enterprising men, rendered desperate by being reduced from affluence to poverty through the vicissitudes of the times. They will give an impulse to smuggling unknown to the country heretofore.

John C. Calhoun Quotes