Washington and his colleagues; a chronicle of the rise and fall of federalismFord, Henry Jones
History
Washington and his colleagues; a chronicle of the rise and fall of federalism
Ford, Henry Jones
Federal Party (U.S.); United States -- History -- Constitutional period, 1789-1809; Washington, George, 1732-1799
The assumption of state debts was the subject of a debate in committee of
the whole which lasted from the twenty-third of February to the second of
March. New factional lines now revealed a supposed diversity of interest
of the several States. The false notions of finance then current were
illustrated by an argument that was in continual use, either on the floor
or in the lobby. Members would figure how much their States would have to
pay as their share of the debt that would be assumed, and on that basis
would reach conclusions as to how their States stood to win or lose by the
transaction. By this reckoning, of course, the great gainer would appear
to be the State upon whom the chances of war had piled the largest debt.
This calculation made Burke of South Carolina, usually an opponent of
anything coming from Hamilton, a strong advocate of assumption. He told
the House that "if the present question was lost, he was almost certain it
would end in her bankruptcy, for she [South Carolina] was no more able to
grapple with her enormous debt than a boy of twelve years of age is able
to grapple with a giant." Livermore, representing a State never within the
actual field of military operations, at once replied: "I conceive that the
debt of South Carolina, or Massachusetts, or of an individual, has nothing
to do with our deliberations. If they have involved themselves in debt, it
is their misfortune, and they must extricate themselves as well as they
can." On a later occasion Stone of Maryland, another State that lay
outside the track of war, gave the leading war-debt States an admonition
of the kind that adds insult to injury, saying "however inconvenient it
may be to Massachusetts or South Carolina to make a bold exertion, and
nobly bear the burthens of their present debt, I believe in the end it
would be found to conduce greatly to their advantage." Burke made a
crushing rejoinder. "Was Maryland like South Carolina constantly grappling
with the enemy during the whole war? There is not a road in the State but
has witnessed the ravages of war; plantations were destroyed, and the
skeletons of houses, to this day, point out to the traveler the route of
the British army; her citizens were exposed to every violence, their
capital taken, and their country almost overrun by the enemy; men, women,
and children murdered by the Indians and Tories; all the personal property
consumed, and now is it to be wondered at that she is not able to make
exertions equal with other States, who have been generally in an
undisturbed condition?"
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