4 pages, folio (367 x 238 mm). Disbound. (Some spotting, chipping to left margin.)

An early contemporaneous printing of Federalist Paper XII, printed on p.94, in the first and second column. Written by Hamilton, the Federalist Paper XII concerns the establishment of currency and the collection of revenue.  Hamilton argues that taxes should be levied on imports and exports, and recommends that the federal government administer tax collection to reduce the amount of resources needed to ensure taxes aren't being evaded. He asserts that funding the government is essential.  It would be easier for the federal government to protect one border on the Atlantic Ocean, rather than ask each state to protect its borders, and ships stationed at America's ports would ensure the collection of duties.