than ——— years. He considered the caution observed in Great Britain, on this point, as the palladium of public liberty.
Mr. RUTLEDGE'S motion was referred. He then moved that a grand committee be appointed, to consider the necessity and expediency of the United States assuming all the state debts. A regular settlement between the Union and the several states would never take place The assumption would be just, as the state debts were contracted in the common defence; it was necessary, as the taxes on imports, the only sure source of revenue, were to be given up to the Union; it was politic, as, by disburdening the people of the state debts, it would conciliate them to the plan.
Mr. KING and Mr. PINCKNEY seconded the motion.
Col. MASON interposed a motion, that the committee prepare a clause for restraining perpetual revenue, which was agreed to, nem. con.
Mr. SHERMAN thought it would be better to authorize the legislature to assume the state debts, than to say positively it should be done. He considered the measure as just, and that it would have a good effect to say something about the matter.
Mr. ELLSWORTH differed from Mr. Sherman. As far as the state debts ought in equity to be assumed, he conceived that they might and would be so.
Mr. PINCKNEY observed, that a great part of the state debts were of such a nature that, although in point of policy and true equity they ought to be, yet would they not be, viewed in the light of federal expenditures.
Mr. KING thought the matter of more consequence than Mr. Ellsworth seemed to do; and that it was well worthy of commitment. Besides the considerations of justice and policy, which had been mentioned, it might be remarked, that the state creditors, an active and formidable party, would otherwise be opposed to a plan which transferred to the Union the best resources of the states, without transferring the state debts at the same time. The state creditors had generally been the strongest foes to the impost plan. The state debts probably were of greater amount than the federal. He would not say that it was practicable to consolidate the debts, but he thought it would be prudent to have the subject considered by a committee.
On Mr. Rutledge's motion, that a committee be appointed to consider of the assumption, &c., it was agreed to.
Massachusetts, Connecticut, Virginia, North Carolina, South Carolina, Georgia, ay, 6; New Hampshire, New Jersey, Delaware, Maryland, no, 4; Pennsylvania, divided.
Mr. Gerry's motion to provide for public securities, for stages on post-roads, and for letters of marque and reprisal, was committed, nem. con.
Mr. KING suggested, that all unlocated lands of particular states ought to be given up, if state debts were to be assumed.
Mr. WILLIAMSON concurred in the idea.216
vol. v.56
