imperceptibly given) without knowing she had not those materials. Of
course, this error might have been committed, and perhaps would have
been committed under a Parliamentary government. But if it had, its
effects would ere long have been thoroughly searched into and
effectually frustrated. The whole force of the greatest inquiring
machine and the greatest discussing machine which the world has ever
known would have been directed to this subject. In a year or two the
American public would have had it forced upon them in every form
till they must have comprehended it. But under the Presidential form
of government, and owing to the inferior power of generating
discussion, the information given to the American people has been
imperfect in the extreme. And in consequence, after nearly ten years
of painful experience, they do not now understand how much they have
suffered from their inconvertible currency.

But the mode in which the Presidential government of America managed
its taxation during the Civil War, is even a more striking example
of its defects. Mr. Wells tells us:--

"In the outset all direct or internal taxation was avoided, there
having been apparently an apprehension on the part of Congress, that
inasmuch as the people had never been accustomed to it, and as all
machinery for assessment and collection was wholly wanting, its
adoption would create discontent, and thereby interfere with a
vigorous prosecution of hostilities. Congress, therefore, confined
itself at first to the enactment of measures looking to an increase
of revenue from the increase of indirect taxes upon imports; and it
was not until four months after the actual outbreak of hostilities
that a direct tax of $20,000,000 per annum was apportioned among the
States, and an income tax of 3 per cent. on the excess of all