The writings of James Madison, comprising his public papers and his private correspondence, including numerous letters and documents now for the first time printed. |
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WEDNESDAY FEBY. 12 |
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 | The writings of James Madison, |  |
WEDNESDAY FEBY. 12
The declaration of Congs. as to Genl. Funds, Passed of Jany.
the 29, as appears on the Journals;[47]
& Congress resolved itself
into a Come. of the whole in order to consider the funds to be
adopted and recommended to the States. On motion of Mr.
Mifflin the impost of 5 Per Ct. was taken into consideration. As
it seemed to be the general opinion that some variations from the
form in which it had been first recomended wd. be necessary for
reconciling the objecting States to it, it was proposed that the
sense of the Come. should be taken on that head. The following
questions were accordingly propounded:
Que 1. Is it expedient to alter the impost as recommended on
the—day of—, 1781?
Mr. Lee said the States particularly Virga. wd. never concur in
the measure unless the term of years were limited, the collection
left to the States, & the appropriation annually laid before ym.
Mr. Wolcot thought the revenue ought to be commensurate in
point of time as well as amount to the debt; that there was no
danger in trusting Congs., considering the responsible mode of its
appt. and that to alter the plan wd. be a mere condescension to the
prejudices of the States.
Mr. Ghoram favored the alteration for the same reason as Mr.
Lee. He said private letters informed him that the opposition to
the impost law was gaining ground in Massts., and the repeal of
Virga. would be very likely to give that opposition the ascendance.
He said our measures must be accommodated to the sentiments
of the States whether just or unreasonable.
Mr. Hamilton dissented from the particular alterations suggested,
but did not mean to negative the question.
Mr. Bland was for conforming to the ideas of the States as far
as wd. in any manner consist with the object.
On the Question the affirmative was unanimous excepting the
voice of Mr. Wolcot.
Que 2d. Shall the term of duration be limited to 25 years?
Mr. Mercer professed a decided opposition to the principle of
general revenue, observed that the liberties of Engd. had been
preserved by a separation of the purse from the sword; that untill
the debts sd. be liquidated & apportioned he wd. never assent
in Congs. or elsewhere to the scheme of the Impost.
Mr. Bland proposed an alternative of 25 years, or until the
requisitions of Congs., according to the Articles of Confedn., shall
be found adequate. On this proposition the votes were of N. H.
divd., R. I. no, Cont. no, N. Y. no N. J. no, Pa. no, Virga. ay, N. C.
divd.; S. C. ay, so the proposition was not agreed to.
On the main question for 25 years it was voted in the affirmative.
Q. 3. Shall the appointmt. of Collectors be left to the States,
they to be amenable to & under the controul of, Congs.?—ay;
several States as N. Y. & Pa. dissenting.[48]
Resolved, That Congress be resolved into a committee of the whole, to
consider of the most effectual means of restoring and supporting public credit;
and that the motion before the house be referred to that committee."—Journals
of Congress, iv., 153.
In the meantime tidings of peace were momentarily expected. Madison
wrote to his father Feby. 12:
"I readily suppose, from the reports prevalent here, that some information
on the subject of peace will be expected, & I wish it were in my power to
gratify you. The truth is, we are in nearly as great uncertainty here as you
can be. Every day almost brings forth some fresh rumour, but it is so mingled
with mercantile speculations that little faith is excited. The most favorable
evidence on the side of peace seems to be a material fall in the price of imported
goods, which considering the sagacity and good intelligence of merchants
is a circumstance by no means to be despised. A little time will probably decide
in the case, when I shall follow this with something more satisfactory."
Mad. MSS.
| The writings of James Madison, | |