Note 961 — Chapter VIII
Reading edition
Madison to Jefferson, March 18, 1786; Writings: Hunt, ii, 228. "Another unhappy effect of a continuance of the present anarchy of our commerces will be a continuance of the unfavorable balance on it, which by draining us of our metals, furnishes pretexts for the pernicious substitution of paper money, for indulgencies to debtors, for postponements of taxes." (Ib.)