Appletons' cyclopædia of American biography . t methods forthe gradual extinction of the debt. In 1812 hisreport says: The redemption of principal hasbeen effected without the aid of any internaltaxes, either direct or indirect, without any addi-tion during the last seven years to the rate ofduties on importations, which, on the contrary,have been impaired by the repeal of the duty onsalt, and notwithstanding the great diminution ofcommerce during the last four years. The warof 1812 then occurred, and the national debt in-creased steadily until it reached, on 1 Jan., 1816,§127,334, Afte
Appletons' cyclopædia of American biography . t methods forthe gradual extinction of the debt. In 1812 hisreport says: The redemption of principal hasbeen effected without the aid of any internaltaxes, either direct or indirect, without any addi-tion during the last seven years to the rate ofduties on importations, which, on the contrary,have been impaired by the repeal of the duty onsalt, and notwithstanding the great diminution ofcommerce during the last four years. The warof 1812 then occurred, and the national debt in-creased steadily until it reached, on 1 Jan., 1816,§127,334, After negotiating several loans,he severed his connection with the treasury de-partment, and he was sent with James A. Bay-ard to St. Petersburg as U. S. commissioner totreat for peace with Great Britain under the me-diation which the emperor Alexander had offeredto the United States. The British governmentrefused to accept the intervention of a foreignpower, and the conference was not held. Mean-while he was continued as commissioner, and sub-.
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