Philadelphia, December 5, 1791
To the Speaker of the House of Representatives:
The Secretary of the Treasury in obedience to the order of þe House of Representatives, of the 15th day of January 1790,125 has applied his attention, at as early a period as his other duties would permit, to the subject of Manufactures; and particularly to the means of promoting such as will tend to render the United States, independent on foreign nations, for military and other essential supplies. And he thereupon respectfully submits the following Report.
The expediency of encouraging manufactures in the United States, which was not long since deemed very questionable, appears at this time to be pretty generally admitted…. [R]estrictive regulations, which in foreign markets abrige the vent of the increasing surplus of our Agricultural produce, serve to beget an earnest desire, that a more extensive demand for that surplus may be created at home: And the complete success… in some valuable branches… justify a hope, that the obstacles to the growth of this species of industry are less formidable than they were apprehended to be.…