predecessors。Aretheyboundtoacknowledgethedebt，toconsidertheprecedinggenerationashavinghadarighttoeatupthewholesoiloftheircountry，inthecourseofalife，toalienateitfromthem，foritwouldbeanalienationtothecreditors，andwouldtheythinkthemselveseitherlegallyormorallyboundtogiveuptheircountryandemigratetoanotherforsubsistence?Everyonewillsayno；thatthesoilisthegiftofGodtotheliving，asmuchasithadbeentothedeceasedgeneration；andthatthelawsofnatureimposenoobligationonthemtopaythisdebt。Andalthough，likesomeothernaturalrights，thishasnotyetenteredintoanydeclarationofrights，itisnolessalaw，andoughttobeactedonbyhonestgovernments。Itis，atthesametime，asalutarycurbonthespiritofwarandindebtment，which，sincethemoderntheoryoftheperpetuationofdebt，hasdrenchedtheearthwithblood，andcrusheditsinhabitantsunderburthenseveraccumulating。HadthisprinciplebeendeclaredintheBritishbillofrights，Englandwouldhavebeenplacedunderthehappydisabilityofwagingeternalwar，andofcontractingherthousandmillionsofpublicdebt。Inseeking，then，foranultimatetermfortheredemptionofourdebts，letusrallytothisprinciple，andprovidefortheirpaymentwithinthetermofnineteenyearsatthefarthest。Ourgovernmenthasnot，asyet，beguntoactontheruleofloansandtaxationgoinghandinhand。Hadanyloantakenplaceinmytime，Ishouldhavestronglyurgedaredeemingtax。FortheloanwhichhasbeenmadesincethelastsessionofCongress，weshouldnowsettheexampleofappropriatingsomeparticulartax，sufficienttopaytheinterestannually，andtheprincipalwithinafixedterm，lessthannineteenyears。AndIhopeyourselfandyourcommitteewillrendertheimmortalserviceofintroducingthispractice。NotthatitisexpectedthatCongressshouldformallydeclaresuchaprinciple。Theywiselyenoughavoiddecidingonabstractquestions。Buttheymaybeinducedtokeepthemselveswithinitslimits。
　　Iamsorrytoseeourloansbeginatsoexorbitantaninterest。
　　Andyet，evenatthatyouwillsoonbeatthebottomoftheloan-bag。
　　Weareanagriculturalnation。Suchanoneemploysitssparingsinthepurchaseorimprovementoflandorstocks。Thelendablemoneyamongthemischieflythatoforphansandwardsinthehandsofexecutorsandguardians，andthatwhichthefarmerlaysbytillhehasenoughforthepurchaseinview。Insuchanationthereisoneandoneonlyresourceforloans，sufficienttocarrythemthroughtheexpenseofwar；andthatwillalwaysbesufficient，andinthepowerofanhonestgovernment，punctualinthepreservationofitsfaith。
　　ThefundImean，is_themassofcirculatingcoin_。Everyoneknows，thatalthoughnotliterally，itisnearlytrue，thateverypaperdollaremittedbanishesasilveronefromthecirculation。Anation，therefore，makingitspurchasesandpaymentswithbillsfittedforcirculation，thrustsanequalsumofcoinoutofcirculation。Thisisequivalenttoborrowingthatsum，andyetthevendorreceivingpaymentinamediumaseffectualascoinforhispurchasesorpayments，hasnoclaimtointerest。Andsothenationmaycontinuetoissueitsbillsasfarasitswantsrequire，andthelimitsofthecirculationwilladmit。Thoselimitsareunderstoodtoextendwithusatpresent，totwohundredmillionsofdollars，agreatersumthanwouldbenecessaryforanywar。Butthis，theonlyresourcewhichthegovernmentcouldcommandwithcertainty，theStateshaveunfortunatelyfooledaway，naycorruptlyalienatedtoswindlersandshavers，underthecoverofprivatebanks。Say，too，asanadditionalevil，thatthedisposalfundsofindividuals，tothisgreatamount，havethusbeenwithdrawnfromimprovementandusefulenterprise，andemployedintheuseless，usuriousanddemoralizingpracticesofbankdirectorsandtheiraccomplices。Inthewarof1755，ourStateavaileditselfofthisfundbyissuingapapermoney，bottomedonaspecifictaxforitsredemption，and，toinsureitscredit，bearinganinterestoffivepercent。Withinaveryshorttime，notabillofthisemissionwastobefoundincirculation。Itwaslockedupinthechestsofexecutors，guardians，widows，farmers，&c。Wethenissuedbillsbottomedonaredeemingtax，butbearingnointerest。Thesewerereadilyreceived，andneverdepreciatedasinglefarthing。Intherevolutionarywar，theoldCongressandtheStatesissuedbillswithoutinterest，andwithouttax。Theyoccupiedthechannelsofcirculationveryfreely，tillthosechannelswereoverflowedbyanexcessbeyondallthecallsofcirculation。Butalthoughwehavesoimprovidentlysufferedthefieldofcirculatingmediumtobefilchedfromusbyprivateindividuals，yetIthinkwemayrecoveritinpart，andeveninthewhole，iftheStateswillco-operatewithus。Iftreasurybillsareemittedonataxappropriatedfortheirredemptioninfifteenyears，andtoinsurepreferenceinthefirstmomentsofcompetitionbearinganinterestofsixpercent。thereisnoonewhowouldnottaketheminpreferencetothebankpapernowafloat，onaprincipleofpatriotismaswellasinterest；andtheywouldbewithdrawnfromcirculationintoprivatehoardstoaconsiderableamount。Theircreditonceestablished，othersmightbeemitted，bottomedalsoonatax，butnotbearinginterest；andifevertheircreditfaltered，openpublicloans，onwhichthesebillsaloneshouldbereceivedasspecie。
　　These，operatingasasinkingfund，wouldreducethequantityincirculation，soastomaintainthatinanequilibriumwithspecie。
　　Itisnoteasytoestimatetheobstacleswhich，inthebeginning，weshouldencounterinoustingthebanksfromtheirpossessionofthecirculation；butasteadyandjudiciousalternationofemissionsandloans，wouldreducethemintime。Butwhilethisisgoingon，anothermeasureshouldbepressed，torecoverultimatelyourrighttothecirculation。TheStatesshouldbeappliedto，totransfertherightofissuingcirculatingpapertoCongressexclusively，_inperpetuum_，ifpossible，butduringthewaratleast，withasavingofcharterrights。IbelievethateveryStatewestandSouthofConnecticutriver，exceptDelaware，wouldimmediatelydoit；andtheotherswouldfollowintime。Congresswould，ofcourse，beginbyobliginguncharteredbankstowinduptheiraffairswithinashorttime，andtheothersastheirchartersexpired，forbiddingthesubsequentcirculationoftheirpaper。Thistheywouldsupplywiththeirown，bottomed，everyemission，onanadequatetax，andbearingornotbearinginterest，asthestateofthepublicpulseshouldindicate。Eveninthenon-complyingStates，thesebillswouldmaketheirway，andsupplanttheunfundedpaperoftheirbanks，bytheirsolidity，bytheuniversalityoftheircurrency，andbytheirreceivabilityforcustomsandtaxes。Itwouldbeintheirpower，too，tocurtailthosebankstotheamountoftheiractualspecie，bygatheringuptheirpaper，andrunningitconstantlyonthem。Thenationalpapermightthustakeplaceeveninthenon-complyingStates。Inthisway，Iamnotwithoutahope，thatthisgreat，thissoleresourceforloansinanagriculturalcountry，mightyetberecoveredfortheuseofthenationduringwar；and，ifobtained_inperpetuum_，itwouldalwaysbesufficienttocarryusthroughanywar；provided，thatintheintervalbetweenwarandwar，alltheoutstandingpapershouldbecalledin，coinbepermittedtoflowinagain，andtoholdthefieldofcirculationuntilanotherwarshouldrequireitsyieldingplaceagaintothenationalmedium。
　　Butitwillbeasked，arewetohavenobanks?Aremerchantsandotherstobedeprivedoftheresourceofshortaccommodations，foundsoconvenient?Ianswer，letushavebanks；butletthembesuchasarealonetobefoundinanycountryonearth，exceptGreatBritain。ThereisnotabankofdiscountonthecontinentofEurope，atleasttherewasnotonewhenIwasthere，whichoffersanythingbutcashinexchangefordiscountedbills。Noonehasanaturalrighttothetradeofamoneylender，buthewhohasthemoneytolend。Letthosethenamongus，whohaveamoniedcapital，andwhopreferemployingitinloansratherthanotherwise，setupbanks，andgivecashornationalbillsforthenotestheydiscount。Perhaps，toencouragethem，alargerinterestthanislegalintheothercasesmightbeallowedthem，ontheconditionoftheirlendingforshortperiodsonly。ItisfromGreatBritainwecopytheideaofgivingpaperinexchangefordiscountedbills；andwhilewehavederivedfromthatcountrysomegoodprinciplesofgovernmentandlegislation，weunfortunatelyrunintothemostservileimitationofallherpractices，ruinousastheyprovetoher，andwiththegulphyawningbeforeusintowhichtheseverypracticesareprecipitatingher。Theunlimitedemissionofbankpaperhasbanishedallherspecie，andisnow，byadepreciationacknowledgedbyherownstatesmen，carryingherrapidlytobankruptcy，asitdidFrance，asitdidus，andwilldousagain，andeverycountrypermittingpapertobecirculated，otherthanthatbypublicauthority，rigorouslylimitedtothejustmeasureforcirculation。Privatefortunes，inthepresentstateofourcirculation，areatthemercyofthoseself-createdmoneylenders，andareprostratedbythefloodsofnominalmoneywithwhichtheiravaricedelugesus。Hewholenthismoneytothepublicortoanindividual，beforetheinstitutionoftheUnitedStatesBank，twentyyearsago，whenwheatwaswellsoldatadollarthebushel，andreceivesnowhisnominalsumwhenitsellsattwodollars，ischeatedofhalfhisfortune；andbywhom?Bythebanks，which，sincethat，havethrownintocirculationtendollarsoftheirnominalmoneywherewasoneatthattime。
　　Reflect，ifyouplease，ontheseideas，andusethemornotastheyappeartomerit。Theycomfortmeinthebelief，thattheypointoutaresourceampleenough，withoutoverwhelmingwartaxes，fortheexpenseofthewar，andpossiblystillrecoverable；andthattheyholduptoallfuturetimearesourcewithinourselves，everatthecommandofgovernment，andcompetenttoanywarsintowhichwemaybeforced。Norisitaslightobjecttoequalizetaxesthroughpeaceandwar。
　　IwasinBedfordafortnightinthemonthofMay，anddidnotknowthatFrancisandhiscousinBakerwerewithin10。milesofmeatLynchburg。IlearntitbylettersfromthemselvesafterIhadreturnedhome。IshallgothereearlyinAugustandhopetheirmasterwillpermitthemtopasstheirSaturdays&Sundayswithme。
　　Everaffectionatelyyours。
　　NOPATENTSONIDEAS
　　_ToIsaacMcPherson_
　　_Monticello，August13，1813_
　　SIR，——YourletterofAugust3daskinginformationonthesubjectofMr。OliverEvans’exclusiverighttotheuseofwhathecallshisElevators，Conveyers，andHopper-boys，hasbeendulyreceived。Mywishtoseenewinventionsencouraged，andoldonesbroughtagainintousefulnotice，hasmademeregretthecircumstanceswhichhavefollowedtheexpirationofhisfirstpatent。
　　Ididnotexpecttheretrospectionwhichhasbeengiventotherevivinglaw。Foralthoughthesecondprovisoseemednotsoclearasitoughttohavebeen，yetitappearedsusceptibleofajustconstruction；andtheretrospectiveonebeingcontrarytonaturalright，itwasunderstoodtobearuleoflawthatwherethewordsofastatuteadmitoftwoconstructions，theonejustandtheotherunjust，theformeristobegiventhem。ThefirstprovisotakescareofthosewhohadlawfullyusedEvans’improvementsunderthefirstpatent；thesecondwasmeantforthosewhohadlawfullyerectedandusedthemafterthatpatentexpired，declaringthey”shouldnotbeliabletodamagestherefor。”Thesewordsmayindeedberestrainedtousesalreadypast，butasthereisparityofreasonforthosetocome，thereshouldbeparityoflaw。Everymanshouldbeprotectedinhislawfulacts，andbecertainthatno_expostfacto_lawshallpunishorendamagehimforthem。Butheisendamaged，ifforbiddentouseamachinelawfullyerected，atconsiderableexpense，unlesshewillpayanewandunexpectedpriceforit。Theprovisosaysthathewhoerectedandusedlawfullyshouldnotbeliabletopaydamages。
　　Butiftheprovisohadbeenomitted，wouldnotthelaw，construedbynaturalequity，havesaidthesamething。Intruthbothprovisosareuseless。Andshalluselessprovisos，inserted_promajoricautela_
　　only，authorizeinferencesagainstjustice?Thesentimentthat_expostfacto_lawsareagainstnaturalright，issostrongintheUnitedStates，thatfew，ifany，oftheStateconstitutionshavefailedtoproscribethem。Thefederalconstitutionindeedinterdictsthemincriminalcasesonly；buttheyareequallyunjustincivilasincriminalcases，andtheomissionofacautionwhichwouldhavebeenright，doesnotjustifythedoingwhatiswrong。Noroughtittobepresumedthatthelegislaturemeanttouseaphraseinanunjustifiablesense，ifbyrulesofconstructionitcanbeeverstrainedtowhatisjust。Thelawbooksaboundwithsimilarinstancesofthecarethejudgestakeofthepublicintegrity。Laws，moreover，abridgingthenaturalrightofthecitizen，shouldberestrainedbyrigorousconstructionswithintheirnarrowestlimits。
　　Yourletter，however，pointstoamuchbroaderquestion，whetherwhathavereceivedfromMr。EvansthenewandpropernameofElevators，areofhisinvention。Because，iftheyarenot，hispatentgiveshimnorighttoobstructothersintheuseofwhattheypossessedbefore。IassumeitisaLemma，thatitistheinventionofthemachineitself，whichistogiveapatentright，andnottheapplicationofittoanyparticularpurpose，ofwhichitissusceptible。Ifonepersoninventsaknifeconvenientforpointingourpens，anothercannothaveapatentrightforthesameknifetopointourpencils。Acompasswasinventedfornavigatingthesea；
　　anothercouldnothaveapatentrightforusingittosurveyland。A
　　machineforthreshing_wheat_hasbeeninventedinScotland；asecondpersoncannotgetapatentrightforthesamemachinetothresh_oats_，athird_rye_，afourth_peas_，afifth_clover_，&c。A
　　stringofbucketsisinventedandusedforraisingwater，ore，&c。，canasecondhaveapatentrighttothesamemachineforraisingwheat，athirdoats，afourthrye，afifthpeas，&c?ThequestionthenwhethersuchastringofbucketswasinventedfirstbyOliverEvans，isamerequestionoffactinmathematicalhistory。Now，turningtosuchbooksonlyasIhappentopossess，Ifindabundantproofthatthissimplemachineryhasbeeninusefromtimeimmemorial。DoctorShaw，whovisitedEgyptandtheBarbarycoastintheyears1727-8-9，inthemarginofhismapofEgypt，givesusthefigureofwhathecallsaPersianwheel，whichisastringofroundcupsorbucketshangingonapully，overwhichtheyrevolved，bringingupwaterfromawellanddeliveringitintoatroughabove。
　　HefoundthisusedatCairo，inawell264feetdeep，whichtheinhabitantsbelievetohavebeentheworkofthepatriarchJoseph。
　　Shaw’stravels，341，Oxfordeditionof1738infolio，andtheUniversalHistory，I。416，speakingofthemannerofwateringthehigherlandsofEgypt，says，”formerlytheymadeuseofArchimedes’sscrew，thencenamedtheEgyptianpump，buttheynowgenerallyusewheelswallowerswhichcarryaropeorchainofearthenpotsholdingaboutsevenoreightquartsapiece，anddrawthewaterfromthecanals。TherearebesidesavastnumberofwellsinEgypt，fromwhichthewaterisdrawninthesamemannertowaterthegardensandfruittrees；sothatitisnoexaggerationtosay，thatthereareinEgyptabove200，000oxendailyemployedinthislabor。”Shaw’snameofPersianwheelhasbeensincegivenmoreparticularlytoawheelwithbuckets，eitherfixedorsuspendedonpins，atitsperiphery。
　　Mortimer’shusbandry，I。18，DuhamelIII。II。，Ferguson’sMechanic’splate，XIII；buthisfigure，andtheverbaldescriptionoftheUniversalHistory，provethatthestringofbucketsismeantunderthatname。HisfigurediffersfromEvans’constructioninthecircumstancesofthebucketsbeinground，andstrungthroughtheirbottomonachain。Butitistheprinciple，towit，astringofbuckets，whichconstitutestheinvention，nottheformofthebuckets，round，square，orhexagon；northemannerofattachingthem，northematerialoftheconnectingband，whetherchain，rope，orleather。Vitruvius，L。x。c。9，describesthismachineryasawindlass，onwhichisachaindescendingtothewater，withvesselsofcopperattachedtoit；thewindlassbeingturned，thechainmovingonitwillraisethevessel，whichinpassingoverthewindlasswillemptythewatertheyhavebroughtupintoareservoir。AndPerrault，inhiseditionofVitruvius，Paris，1684，fol。plates61，62，givesusthreeformsofthesewaterelevators，inoneofwhichthebucketsaresquare，asMr。Evans’are。Bossut，HistoiredeMathematiques，i。
　　86，says，”thedrumwheel，thewheelwithbucketsandthe_Chapelets_，arehydraulicmachineswhichcometousfromtheancients。Butweareignorantofthetimewhentheybegantobeputintouse。”The_Chapelets_aretherevolvingbandsofthebucketswhichShawcallsthePersianwheel，themodernsachain-pump，andMr。
　　Evanselevators。ThenextofmybooksinwhichIfindtheseelevatorsisWolf’sCoursdeMathematiques，i。370，andplate1，Paris1747，8vo；herearetwoforms。Inoneofthemthebucketsaresquare，attachedtotwochains，passingoveracylinderorwallowerattop，andunderanotheratbottom，bywhichtheyaremadetorevolve。ItisanearlyexactrepresentationofEvans’Elevators。
　　ButamoreexactoneistobeseeninDesagulier’sExperimentalPhilosophy，ii。plate34；intheEncyclopediedeDiderotetD’Alembert，8voeditionofLansanne，1stvolumeofplatesinthefoursubscribedHydraulique。Norie，isonewhereroundeasternpotsaretiedbytheircollarsbetweentwoendlessropessuspendedonarevolvinglanternorwallower。Thisissaidtohavebeenusedforraisingoreoutofamine。InabookwhichIdonotpossess，L’ArchitectureHidrauliquedeBelidor，the2dvolumeofwhichissaid[DelaLande’scontinuationofMontuclas’HistoriedeMathematiques，iii。711]tocontainadetailofallthepumps，ancientandmodern，hydraulicmachines，fountains，wells，&c，IhavenodoubtthisPersianwheel，chainpump，chapelets，elevators，bywhichevernameyouchoosetocallit，willbefoundinvariousforms。ThelastbookIhavetoquoteforitisProny’sArchitectureHydrauliquei。，Avertissementvii。，and648，649，650。Inthelatterofwhichpassagesheobservesthatthefirstideawhichoccursforraisingwateristoliftitinabucketbyhand。Whenthewaterliestoodeeptobereachedbyhand，thebucketissuspendedbyachainandletdownoverapulleyorwindlass。Ifitbedesiredtoraiseacontinuedstreamofwater，thesimplestmeanswhichoffersitselftothemindistoattachtoanendlesschainorcordanumberofpotsorbuckets，sodisposedthat，thechainbeingsuspendedonalanthornorwallowerabove，andplungedinwaterbelow，thebucketsmaydescendandascendalternately，fillingthemselvesatbottomandemptyingatacertainheightabove，soastogiveaconstantstream。SomeyearsbeforethedateofMr。Evans’patent，aMr。MartinofCarolinecountyinthisState，constructedadrill-plough，inwhichheusedthebandofbucketsforelevatingthegrainfromtheboxintothefunnel，whichletthemdownintothefurrow。Hehadbandswithdifferentsetsofbucketsadaptedtothesizeofpeas，ofturnipseed，&c。I
　　haveusedthismachineforsowingBenniseedalso，andproposetohaveabandofbucketsfordrillingIndianCorn，andanotherforwheat。IsitpossiblethatindoingthisIshallinfringeMr。Evans’
　　patent?ThatIcanbedebarredofanyusetowhichImighthaveappliedmydrill，whenIboughtit，byapatentissuedafterIboughtit?
　　Theseverbaldescriptions，applyingsoexactlytoMr。Evans’
　　elevators，andthedrawingsexhibitedtotheeye，flashconvictionbothonreasonandthesensesthatthereisnothingnewintheseelevatorsbuttheirbeingstrungtogetheronastrapofleather。Ifthisstrapofleatherbeaninvention，entitlingtheinventortoapatentright，itcanonlyextendtothestrap，andtheuseofthestringofbucketsmustremainfreetobeconnectedbychains，ropes，astrapofhempengirthing，oranyothersubstanceexceptleather。