Formation of the Union, 1750-1829Hart, Albert Bushnell
History
Formation of the Union, 1750-1829
Hart, Albert Bushnell
United States -- History; United States -- Politics and government
When it was evident that the domestic loan had failed, Congress called
upon the States to furnish five millions of dollars, apportioned among
them according to their importance. These requisitions were repeated at
intervals during the Revolution, but always with the same effect. Not a
fourth part of the sums asked for was paid by the States. A system of
"specific supplies" was adopted in 1778, by which the States were allowed
to pay their quotas in kind. It added a new source of confusion, and
brought no more revenue.
[Sidenote: Miscellaneous resources.]
Every device that the government could put into operation for raising
money was eventually tried. A lottery brought considerable sums into the
treasury, the supplies for the army were seized at Valley Forge and
elsewhere, and paid for in certificates. Bills were drawn on foreign
ministers for funds which it was hoped they might have in hand by the time
the bills reached them, and the government bought, and sent abroad to meet
its indebtedness, cargoes of tobacco and other products.
[Sidenote: Speculation.]
The financial burdens of the government were increased by a spirit of
extravagance, speculation, and even of corruption. Washington wrote,
"Unless extortion, forestalling, and other practices which have ... become
exceedingly prevalent can meet with proper checks, we must inevitably sink
under such a load of accumulated oppressions." The whole cost of the war
is estimated at one hundred and thirty-five millions. Of this about one
hundred millions had been raised through the Continental bills and other
devices. About thirty-five millions remained as a national debt.
44. INTERNAL DIFFICULTIES (1775-1782).
[Sidenote: Weakness of Congress.]
That Congress was able to make no better provision for the finances was
due to a decline in its prestige rather than to a lack of interest in the
war. Some of the ablest members were drawn into military service, or sent
on foreign missions. The committee system made it inefficient, and it was
difficult to bring it to a decision upon the most important matters. In
vain did Washington storm, and implore it to act quickly and intelligently
on military matters of great moment. Its relations with the States changed
as the war advanced. Dec. 7, 1776; Congress made Washington for a time
almost a dictator. In 1779 the Virginia legislature formally denied that
it was "answerable to Congress for not agreeing with any of its
recommendations."
[Sidenote: The loyalists.]
Public-domain text, read in full here on John Shaqi.
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