Extract from Thomas Jefferson to John Wayles Eppes
|Monticello June 24. 13.|
our government has not, as yet, begun to act on the rule of loans & taxation going hand in hand. had any loan taken place in my time, I should have strongly urged a redeeming tax. for the loan which has been made since the last session of Congress, we should now set the example of appropriating some particular tax, sufficient to pay the interest annually and the principal within a fixed term, less than 19. years. and I hope yourself and your committee will render the immortal service of introducing this practice. not that it is expected that Congress should formally declare such a principle. they wisely enough avoid deciding on abstract questions. but they may be induced to keep themselves within it’s limits.