584. ASSUMPTION OF STATE DEBTS, Justice and.—
The assumption
must be admitted, but in so qualified a form as
to divest it of its injustice. This may be done
by assuring to the creditors of every State, a
sum exactly proportioned to the contribution of
the State; so that the State will on the whole
neither gain nor lose. There will remain against
the measure only the objection that Congress
must lay taxes for these debts which might be
better laid and collected by the States.—
To T. M. Randolph.
Ford ed., v, 185.
(N.Y.,
17901790)gt;
