good faith requires that in the mean time other meafures Thould be reforted to, for the purpose of difcharging the. growing intereft. It is confidered by Congrefs, chat a demand upon the states for the whole arrearages of intereft due on the foreign and domestic debt at the critical moment when they are just emerging from the complicated diftreffes of a ruinous internal war, would only be attended with a failure of compliance on the part of the ftates-a confequence that could not but be destructive of public credit. During the continuance of the war, a non compliance with the requifitions of Congress was attributed to the ravages of the enemy, the lols of commerce, and the employment of our citizens in defending instead of cultivating the foil, but if on the conclufion of peace, the fame remiffnefs on the part of the fates be continued, no other cause can be affigned but a defect in the powers of government, or an inability or difinclination in the citizens of America, to do juftice to their public creditors-conclufions equally ruinous and disho norable. To avoid which it is indifpenfably neceffary that Congrefs conform thir requifitions to the abilities of their constituents to pay. If this can be accomplished by calling for the intereft for one year on the principal and intereft heretofore due, and the requifition is punctually complied with, complete juftice will then be rendered to public creditors, as it is a well known fact, that whenever the payment of intereft on a principal fum can be well fecured, fuch is the nature of monied operations,that the proprietors of the evidences of fuch a principal fum can always transfer them for their full value. The requifitions of October 30th, 1781, for eight millions of dollars, and of October 16th, 1782 for two millions of dollars, have been fo partially complied with, and in fuch unequal proportions, that Congress can retain. no hopes of their full execution, and it only remains for them now to adjust the proportions paid by the feveral states, and where any flate has exceeded her equal proportion, to give fuch flate credit in the enfuing requifitione, and charge the deficiency that will then arife on thofe ftates, who have failed in paying in an equal ratio. 』『,, Individual states,&c. (here take in the paragraph in the report beginning with thofe words.) Bur But it will be neceffary alfo to remind the states, &c. (here alfo take in the paragraph in the report beginning with thofe words.) Refolved, That the above fome of 2,986,952 33 dollars, be furnished by the refpective ftates in the following proportions, viz. New-Hamphire' Maffachufetts Rhode Island Connecticut New-York Delaware Maryland Virginia North Carolina South Carolina Georgial 2 According to the apportionment made in April 1783, And in order to afcertain the precife fum due to the domeltic creditors, the fuperintendant of finance is hereby directed to caufe all the loan office certificates and other pubile fecurities to be revifed and liquidated anew, and the interest due thereon, to the last day of the year 1783, to be added to the principal fums and fecurities iflued agreeable thereto. On the queftion to poftpone for the purpose above mentioned, the yeas and nays being required by Mr. Mercer. New-Hampshire, Mr. Fofter Maffachusetts, ༣? Mr. Blanchard nos no Mr. Gerry Mr. Partridge no Rhode-Ifland, Mr. Ellery no Mr. Howell no Connecticut, New-York, New-Jersey, So it paffed in the negative. at divided ay ng ay } ay ay og divided The report of the grand committee appointed to prepare and report to Congress, the arrears of interest on the national debt, together with the expences for the year 1784, and a requifition of money on the states for dif· · charging the fame, being amended to read as follows. Refolued, That there will be wanting for arrears of in tereft on the national debt to the end of the year 1783, and for the intereft of the foreign debt and fervices of the prefent year 1784, from the first to the last day thereof inclufive, the following fums expreffed in dollars, tenths and hundredths of dollars. Dec. 31 Three years interest on the 17831 22,500 Spanish loan of 150,000 Carried forward, 22,500 1,457,525.33 1783. Brought forward, 22,500 1,457,525-33 7,500 Dec. 31. Spanish loan, one year, 1784 June 1. rins, at 5 per cent. Sept. 3. French loan of 24 million livres at ditto, Nov. 5. Dutch loan of 10 million Jivres, guaranteed by France, Dec. 31. Spanish loan, 1782. 35,000 222,000 74,074 7,500 Farmers general of France, 7,840 Dec. 31. L. office debt, 11,473,802, 26 Liquidated debt, 701,404 384,254 at 6 per cent. 1,184,176 at ditte, 21,042 The committee were apprifed that the refolutions of Congrefs of April the 18th, 1783, had recommended to the feveral itates the railing an annual revenue, for the purpofe of difcharging the principal and interest of the VOL. X. national debt, by the establishment of certain impofts, and proding fupplementary funds for a given term of years, to be railed in fuch a way as they might judge most convenient but it occurred to them, that thofe recommendations were still under fufpence with feveral of the legiflatures, fome of them having as yet acceded to the impost only, and others decided neither on the impoft nor tupplementary funds: that however defirable a compliance therewith is, for the prefervation of our faith, and esta blishment of a national credit, yet as time has already elapsed, and more must elapse before their final confirmation can be hoped, as, after it fhall be obtained, time will also be requifite to advance the plan to the term of actual collection, good faith requires that in the mean while other measures fhould be reforted to For the purpose of difcharging the growing interest. In the statement of the intereft due at the close of the year 1782, the committee have supposed its amount leffened by 1,200,000 dollars, required and apportioned by the refolutions of Congress of September the 4th and 10th, 1782, and appropriated to the fole purpose of paying the intereft of the public debt. This requifition gave licence to the states to apply fo much as fhould be neceffary of their respective quotas of it, to the payment of intereft due on certificates iffued from the loan office of their own ftates, and other liquidated debts of the United States contracted therein. Hence they fuppofe it has happened, that the actual payments of thefe quotas have been uncommmunicated to the office of finance for the United States. The committee are of opinion that the states should be defired to communicate to the fuperintendant of finance, the payments they have made under this requifition, and where they have been incomplete, to hatten their completion, as the meaus ftill relied on by Congress for the difcharge of that part of the intereft of the pub~ Jic debt-And while on this fubject, they beg leave to add, that from the reprefentation to Congress by the minifler of France, referred to this committee, they learn that in fome of the states a discrimination has taken place between the citizens of their own and fubjects or citizens of other countries, which was not authorized by the faid re. folution |