The question Whether one generation of men has a right to bind another, seems never to have been started either on this or our side of the water. Yet it is a question of such consequences as not only to merit decision, but place also, among the fundamental principles of every government. The course of reflection in which we are immersed here on the elementary principles of society has presented this question to my mind; & that no such obligation can be so transmitted I think very capable of proof. I set out on this ground, which I suppose to be self-evident, ‘that the earth belongs in usufruct to the living’: that the dead have neither powers nor rights over it. The portion occupied by any individual ceases to be his when himself ceases to be, & reverts to the society.

It is between fifty and sixty years since I read it, and I then considered it merely the ravings of a maniac, no more worthy nor capable of explanation than the incoherences of our own nightly dreams. ... what has no meaning admits no explanation.

Put down all banks, admit none but a metallic circulation that will take its proper level with the like circulation in other countries, and then our manufacturers may work in fair competition with those of other countries, and the import duties which the government may lay for the purposes of revenue will so far place them above equal competition.

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The habit of using ardent spirit, by men in public office, has occasioned more injury to the public service, and more trouble to me, than any other circumstance which has occurred in the internal concerns of the country, during my administration. And were I to commence my administration again, with the knowledge which from experience I have acquired, the first question which I would ask, with regard to every candidate for public office, should be, "Is he addicted to the use of ardent spirit?"

The bank mania is one of the most threatening of these imitations. It is raising up a moneyed aristocracy in our country which has already set the government at defiance, and although forced at length to yield a little on this first essay of their strength, their principles are unyielded and unyielding. These have taken deep root in the hearts of that class from which our legislators are drawn, and the sop to Cerberus from fable has become history. Their principles lay hold of the good, their pelf of the bad, and thus those whom the Constitution had placed as guards to its portals, are sophisticated or suborned from their duties.

I had always hoped that the younger generation receiving their early impressions after the flame of liberty had been kindled in every breast, & had become as it were the vital spirit of every American, that the generous temperament of youth, analogous to the motion of their blood, and above the suggestions of avarice, would have sympathized with oppression wherever found, and proved their love of liberty beyond their own share of it.

I have often thought that if heaven had given me choice of my position and calling, it should have been on a rich spot of earth, well watered, and near a good market for the productions of the garden. No occupation is so delightful to me as the culture of the earth, and no lucture comparable to that of the garden. Sucha a variety of subjeccts, some one always coming to perfection, the failure of one thing repaired by the succes of another, and instead of one harvest a continued one through the year. Under a total want of demand except for our family table, I am still devoted to the garden.

These contributions [federal taxes on consumption of foreign goods] enable us to support the current expenses of the Government, to fulfill contracts with foreign nations, to extinguish the native right of soil within our limits, to extend those limits, and to apply such a surplus to our public debts as places at a short day their final redemption, and that redemption [of debt] once effected," he said, "the revenue thereby liberated may, by a just repartition among the States and a corresponding amendment of the Constitution, be applied, in time of peace, to rivers, canals, roads, arts, manufactures, education, and other great objects within each State. In time of war,—if injustice, by ourselves or others, must sometimes produce war,— increased as the same revenue will be increased by population and consumption, and aided by other resources reserved for that crisis, it may meet within the year all the expenses of the year without encroaching on the rights of future generations by burdening them with the debts of the past. War will then be but a suspension of useful works, and a return to a state of peace a return to the progress of improvement.