For several years
our exports did not exceed ten millions. But our merchants were not
disheartened; they gradually enlarged their trade and extended their
field of adventure; privateers were put into the India trade, and
entered into successful rivalry with the more cumbrous ships of the
East India Companies. The new Constitution was adopted, the public debt
funded, and duties imposed to meet the interest. The war-worn officer,
the patriotic merchant, and the humble capitalist, who had relied on the
honor and justice of the country, were paid in public stocks which found
favor abroad. Old capital was resuscitated and became the basis of
commerce.
In 1793 our tonnage had risen to 488,000 tons; and in 1799 it had grown
to 939,488 tons, and was still increasing. The aggressions of France
in 1798 and 1799 were met with a bold spirit and proved of brief
continuance, a proper chastisement was inflicted on the corsairs of
Africa, the honor of the flag was maintained, our commerce moved onward
until the close of 1807, and by the official report of that year our
tonnage had increased to 1,208,735 tons, or at least five hundred per
cent.
Pages:
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252