The natural effect of low interest is to increase trade and industry; because undertakings of every kind can be prosecuted with greater advantage.

As riches increase and accumulate in few hands . . . the tendency of things will be to depart from the republican standard.

Has it been found that bodies of men act with more rectitude or greater disinterestedness than individuals? The contrary of this has been inferred by all accurate observers of the conduct of mankind; and the inference is founded upon obvious reasons. Regard to reputation has a less active influence, when the infamy of a bad action is to be divided among a number than when it is to fall singly upon one.

The President is to be commander-in-chief of the army and navy of the United States. In this respect his authority would be nominally the same with that of the king of Great Britain, but in substance much inferior to it. It would amount to nothing more than the supreme command and direction of the land and naval forces, as first general and admiral ... while that of the British king extends to the declaring of war and to the raising and regulating of fleets and armies - all which, by the Constitution under consideration, would appertain to the legislature.

The President of the United States would be liable to be impeached, tried, and upon conviction of treason, bribery, or other high crimes and misdemeanors, removed from office; and would afterwards be liable to prosecution and punishment in the ordinary course of law. The person of the King of Great Britain is sacred and inviolable: There is no constitutional tribunal to which he is amenable, no punishment to which he can be subjected without involving the crisis of a national revolution.

Why has government been instituted at all? Because the passions of man will not conform to the dictates of reason and justice without constraint.

The great leading objects of the federal government, in which revenue is concerned, are to maintain domestic peace, and provide for the common defense.