The Life of George Washington, Vol. 4: Commander in Chief of the American Forces During the War; which Established the Independence of his Country and First; President of the United StatesMarshall, John
History
The Life of George Washington, Vol. 4: Commander in Chief of the American Forces During the War; which Established the Independence of his Country and First; President of the United States
Marshall, John
Generals -- United States -- Biography; Presidents -- United States -- Biography; Washington, George, 1732-1799
The great powers of war, of taxation, and of borrowing money, which
were vested in congress to pay the debts, and provide for the common
defence and general welfare of the United States, comprised that in
question. There could be no more doubt of their right to charge
themselves with the payment of a debt contracted in the past war, than
to borrow money for the prosecution of a future war. The impolicy of
leaving the public creditors to receive payment from different sources
was also strongly pressed; and the jealousy which would exist between
the creditors of the union and of the states, was considered as a
powerful argument in favour of giving them one common interest. This
jealousy, it was feared, might be carried so far, as even to create an
opposition to the laws of the union.
If the states should provide for their creditors, the same sum of
money must be collected from the people, as would be required if the
debt should be assumed; and it would probably be collected in a manner
more burdensome, than if one uniform system should be established. If
all should not make such provision, it would be unjust to leave the
soldier of one state unpaid, while the services of the man who fought
by his side were amply compensated; and, after having assumed the
funds, it would dishonour the general government to permit a creditor
for services rendered, or property advanced for the continent, to
remain unsatisfied, because his claim had been transferred to the
state, at a time when the state alone possessed the means of payment.
By the injured and neglected creditor, such an arrangement might
justly be considered as a disreputable artifice.
Instead of delaying, it was believed to be a measure which would
facilitate the settlement of accounts between the states. Its
advocates declared that they did not entertain, and never had
entertained any wish to procrastinate a settlement. On the contrary,
it was greatly desired by them. They had themselves brought forward
propositions for that purpose; and they invited their adversaries to
assist in improving the plan which had been introduced.
The settlement between the states, it was said, either would or would
not be made. Should it ever take place, it would remedy any
inequalities which might grow out of the assumption. Should it never
take place, the justice of the measure became the more apparent. That
the burdens in support of a common war, which from various causes had
devolved unequally on the states, ought to be apportioned among them,
was a truth too clear to be controverted; and this, if the settlement
should never be accomplished, could be effected only by the measure
now proposed. Indeed, in any event, it would be the only certain, as
well as only eligible plan. For how were the debtor states to be
compelled to pay the balances which should be found against them?
Public-domain text, read in full here on John Shaqi.
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