p.

27

This principle seems to have had its origin in the
opinions of Mr. Jefferson, which are found in his published
letters. See Vol. III. p. 27. 426. and Vol. IV. 196. 275.
396.

The general principle adopted by Mr. Jefferson is,
that the earth belongs in usufruct to the living ; that the
dead have neither power nor rights over it ; that no man
can by natural right oblige the lands he occupied, or the
persons who succeed him in that occupation, to the pay-
ment of debts contracted by him, for if he could, he might,
during his own life, eat up the usufruct of the lands for
several generations to come, and then the lands would be-
long to the dead, and not to the living ; that what is true of
every member of the society individually, is true of them
all collectively ; since the rights of the whole can be no
more than the sum of the rights of individuals ; that
each generation may be considered as a distinct nation, with
a right, by the will of its majority, to bind themselves, but
none to bind the succeeding generation ; that the period of
a generation is thirty-four years ; that a majority of a gene-
ration therefore will be dead at the end of eighteen years
and eight months ; and that at nineteen years from the date
of a contract, the majority of contractors (the generation)
are dead and their contract with them. Mr. Jefferson then
supposes a case in which a majority of a generation borrow
a sum of money equal to the fee simple value of a state,
and consume it in eating, drinking or quarreling and fight-
ing. From this he infers, that in nineteen years, when the
majority are dead, there is an end of the debt.

This theory seems to have been suggested by a con-
sideration of the evil of an enormous national debt, like that