nental engagements; but, on the other, desponded of a unanimous concurrence of the states in such an establishment. He observed, that it was a question of great importance, how far the federal government can or ought to exert coercion against delinquent members of the Confederacy; and that without such coercion, no certainty could attend the constitutional mode which referred every thing to the unanimous punctuality of thirteen different councils. Considering, therefore, a Continental revenue as unattainable, and periodical requisitions from Congress as inadequate, he was inclined to make trial of the middle mode of permanent state funds, to be provided at the recommendation of Congress, and appropriated to the discharge of the common debt.
Mr. HAMILTON, in reply to Mr. ELLSWORTH, dwelt long on the inefficacy of state funds. He supposed, too, that greater obstacles would arise to the execution of the plan than to that of a general revenue. As an additional reason for the latter to be collected by officers under the appointment of Congress, he signified, that, as the energy of the federal government was evidently short of the degree necessary for pervading and uniting the states, it was expedient to introduce the influence of officers deriving their emoluments from, and consequently interested in supporting the power of, Congress.[1]
Mr. WILLIAMSON was of opinion, that Continental funds, although desirable, were unattainable, at least to the full amount of the public exigencies. He thought, if they could be obtained for the foreign debt, it would be as much as could be expected, and that they would also be less essential for the domestic debt.
Mr. MADISON observed, that it was needless to go into proofs of the necessity of paying the public debts; that the idea of erecting our national independence on the ruins of public faith and national honor must be horrid to every mind which retained either honesty or pride; that the motion before Congress contained a simple proposition, with respect to the truth of which every member was called upon to give his opinion; that this opinion must necessarily be in the affirmative, unless the several objects of doing justice to the public creditors, &c. &c., could be compassed by some other plan than the one proposed; that the two last objects depended essentially on the first; since the doing justice to the creditors would alone restore public credit, and the restoration of this would alone provide for the future exigencies of the war. Is, then, a Continental revenue indispensably necessary for doing complete justice, &c.? This is the question. To answer it, the other plans proposed must first be reviewed.
In order to do complete justice to the public creditors, either the principal must be paid off, or the interest paid punctually. The first is admitted to be impossible on any plan. The only plans opposed to the Continental one for the latter purpose are, first, periodical requisitions according to the Federal Articles; secondly, permanent funds established by each state within itself, and the proceeds consigned to the discharge of public debts.
Will the first be adequate to the object? The contrary seems to be maintained by no one. If reason did not sufficiently premonish, experience has sufficiently demonstrated, that a punctual and unfailing compliance, by thirteen separate and independent governments, with periodical demands of money from Congress, can never be reckoned upon with the certainty requisite to satisfy our creditors, or to tempt others to become our creditors in future.
Secondly. Will funds separately established within each state, and the amount submitted to the appropriation of Congress, be adequate to the object? The only advantage which is thought to recommend this plan is, that the states will be with less difficulty prevailed upon to adopt it. Its imperfections are, first, that it must be preceded by a final and satisfactory adjustment of all accounts between the United States and individual states, and by an apportionment founded on a valuation of all the lands throughout each of the states, in pursuance of the law of the Confederation; for although the states do not as yet insist on these prerequisites in the case of- ↑ This remark was imprudent, and injurious to the cause which it was meant to serve. This influence was the very source of jealousy which rendered the states averse to a revenue under collection, as well as appropriation of Congress. All the members of Congress who concurred in any degree, with the states in this jealousy, smiled at the disclosure. Mr. Bland, and still more Mr. Lee, who were of this number, took notice, in private conversation, that Mr. Hamilton had let out the secret.
