5439. MONOPOLY, Limited.—
I sincerely
rejoice at the acceptance of the new Constitution
by nine States. It is a good canvas,
on which some strokes only want retouching.
What these are, I think are sufficiently manifested
by the general voice from north to
south, which calls for a bill of rights. It
seems pretty generally understood that this
should go to * * * monopolies. * * *
The saying there shall be no monopolies,
lessens the incitements to ingenuity, which is
spurred on by the hope of a monopoly for
a limited time, as of fourteen years; but the
benefit of even limited monopolies is too
doubtful to be opposed to that of their general
suppression.—
To James Madison. Washington ed. ii, 445.
Ford ed., v, 45.
(P.
July. 1788)
