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 NOVR. 20TH. |
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 | The writings of James Madison, |  |
WEDNESDAY NOVR. 20TH.
Congress went into consideration of the Report of A Committee
consisting of Mr. Carrol, Mr. McKean & Mr. Howel on two
Memorials from the Legislature of Pennsylvania. The Memorials
imported a disposition to provide for the Creditors of the U. S.
within the State of Pena. out of the Revenues allotted for Congress,
unless such provision could be made by Congress. The
Report as an answer to the Memorials acknowledged the merit of
the public Creditors, professed the wishes of Congress to do them
justice; referring at the same time to their recommendation of
the Impost of 5 Per Ct., which had not been acceded to by all
the States; to the requisition of 1,200,000 Drs., for the payment of
one year's interest on the public debt, and to their acceptance
of the territorial cession made by N. Y. After some general conversation
in which the necessity of the Impost as the only fund
on which loans could be expected & the necessity of loans to
supply the enormous deficiency of taxes, were urged, as also the
fatal tendency of the plan intimated in the Memorials, as well to
the Union itself, as to the system actually adopted by Congress,
the Report was committed.[6]
A motion was made by Mr. Rutledge, 2ded by Mr. Williamson,
to instruct the committee to Report the best mode of liquidating
the domestic debts, and of obtaining a valuation of the land
The first part of the instruction was negatived, provision having
been previously made on that head. In place of it the Superintendt
of Finance was instructed to report the causes which
impede that provision. The 2d part was withdrawn by the mover.
A committee however was afterwards appointed, consisting of
Mr. Rutledge, Mr. Nash Mr. Duane Mr. Osgood & Mr. Madison,
to report the best scheme for a valuation.
Madison set forth the delinquency of Virginia in complying with the requisitions
of Congress in the following letter to Edmund Randolph, dated November
26th (cypher represented by italics):
"The Governor in his letter to the Delegates of the 8th. of the prest. month,
after observing that the great scarcity of cash in Virga will put it out of her
power to comply with the demands of Congress, unless the Financier will
accept Tobo in payment, desires us to sound the latter on that subject. We
accordingly called on Mr. Morris, and to our astonishment were told that a
proposition to this very effect, and to the amount of sixty thousand dollars had
been a considerable time lying before him that his agent had been instructed
to allow the current price and that he wished to have obtained the
tobacco because it could be immediately sent under a fortunate convoy to Holland
where its influence on public credit might be critical and important.
Either therefore Mr. M. must have been basely deceived by his agent which can
hardly be supposed or the Governor must in the first case have rejected a fair
offer and in the next imposed on us a very nugatory and awkward negotiation
as we concealed from the Superintendt. that our enquiries with the Govt. he
escaped the risk to which he had exposed his character with that Minister [sic]
I cannot pass over this circumstance without a lamentation on the obloquy
which Virginia brings on herself by submitting to be eclipsed by even the feeble
efforts of other states. The monthly lash of the Receiver's proclamation, which
has roused so many other states into some degree of emulation has produced no
effect on her. In our conversation with Mr. M. we were indeed told that
Mr. Webb had a prospect of between two and three thousand dollars. But if any
thing can add to the mortification which we feel at the receipt of nothing it will
be the receipt of so beggarly a sum. I confide therefore that there is at least
enough of pride in the state to prevent it.
. . . . . . . . . .
"The obstinacy of Rhode Island in rejecting the Impost is a subject of very
general pointed crimination not only among the public creditors and their
friends who deem it equivalent to denial of justice, but among the most enlightened
patrons of the fœdral interests who pronounce it a blow to our credit
abroad, as well as our future credit at home. And in truth who can combine
this consideration with the paltry payments on the last requisition of Congress
and not shudder at the prospect. This obstinacy on the part of R. I. is supposed,
on good grounds, to be much cherished by the limited manner in which
other states have acceded to the impost from which she infers a latent repugnance
to the measure. Would it not then be prudent in Virgo. to revise and enlarge
her act of compliance? If her example should prove less efficacious than might
be wished it would at least have a conciliatory effect on other states and gain her
general credit. I see no possible objection, unless indeed she wishes the plan
to be frustrated; in which case I can only give it as my firm opinion that a
thorough knowledge of public affairs would speedily reconcile her to it. If
your own ideas correspond with those here expressed, and the temper of the
Legislature be not unfavorable, you will give such suggestions as may be best
adapted to the object, and make them the subject of a future paragraph."—
Mad. MSS.
| The writings of James Madison, | |