672. BANK (U. S.), Ruin by.—
It was
impossible the Bank and paper mania should
not produce great and extensive ruin. The
President is fortunate to get off just as the
bubble is bursting, leaving others to hold the
bag. Yet, as his departure will mark the moment
when the difficulties begin to work, you
will see, that they will be ascribed to the new
administration, and that he will have his
usual good fortune of reaping credit from the
good acts of others, and leaving to them that
of his errors.—
To James Madison.
Ford ed., vii, 104.
(Jan. 1797)
