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A Century of Lawmaking for a New Nation: U.S. Congressional Documents and Debates, 1774-1875
Journals of the Continental Congress --TUESDAY, FEBRUARY 29, 1780
A letter, of 20th, from Colonel Samuel Atlee was read:
Ordered, That the same be referred to the Board of Treasury.
A letter, of 25th December, last, from James Green, Junior, was read:2
[Note 2: 2 This letter is in the Papers of the Continental Congress, No. 78, X, folio 187.]
Ordered, That it be referred to the Board of Treasury.
The Board of War to whom was referred the letter from General Irvine, of the 23d ultimo brought in a report, which was read; Whereupon,
Resolved, That the letter from General Irvine, of the 23d of January, relative to his rank, be referred to the Commander in Chief; and that he be authorized to direct the necessary enquiry into General Irvine's claim, and finally settle the same.3
[Note 3: 3 This report is in the Papers of the Continental Congress, No. 147, IV, folio 191.]
A report from the Board of War was read, respecting Baron Steuben:
At a Board of War February 28, 1780
Present Col Pickering, Mr Peters, Col Grayson
In obedience to the direction of Congress, of the 25th instant, the board have conferred with Major General Baron Steuben respecting his expenditures, and beg leave to inform Congress, that it appears he has disbursed the sum of two hundred and fifty Louis d'ors in his preparations and voyage to America, and that since his arrival, and during his continuance in the service of the United States, he has expended the farther sum of five hundred and forty six Louis d'ors.
They therefore beg leave to report,
That Major Genl Baron Steuben, be allowed the sum of two hundred and fifty Louis d'ors in bills of exchange, for reimbursing him the expenses of himself and family in coming to America.
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That the farther sum of five hundred and forty six Louis d'ors in bills of exchange be advanced to him, for which he is to be accountable.1
[Note 1: 1 This report is in the Papers of the Continental Congress, No. 147, IV, folio 195.]
Ordered, That it be referred to a committee of three:
The members chosen, Mr. [Robert R.] Livingston, Mr. [Thomas] McKean, and Mr. [Oliver] Ellsworth.
The committee for supplying the treasurer delivered in a report, which was read:
Whereas the Continental Bills, notwithstanding every effort to restore their credit, continue in a state of depreciation, whereby not only great injustice takes place, and commerce is embarrassed, but our military operations are obstructed and the necessary supplies for continuing them are not ascertainable in those bills therefore
Resolved, that the States be immediately called on to make provision for sinking by taxes loans, exchanged or otherwise Passed. in the course of the present year their quotas of all the continental bills of credit now in circulation, viz.
That the States be charged in debt for their said quotas in Spanish Milled Dollars at the exchange of 40 for 1 with interest from this day at the rate of 6 per cent. per annum, and be credited in Spanish Milled Dollars, at the same rate of Exchange for the said bills as they shall bring them in to be destroyed.
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That it be recommended to the States as said Bills shall be drawn out of circulation to emit bills on their own credit, redeemable in specie, within 7 years, not exceeding on any account their respective quotas of ten Million Dollars, nor to be issued more than 1/20 part so fast as the other bills shall be brought in to be destroyed, and that they establish sufficient funds for the redemption of the bills they shall so emit.
That as a still farther security to their credit, it be also recommended to the States either to annex to their said bills an annual interest in specie, or to establish and keep open at all times Loan offices to receive them at par with specie and on an interest payable also in specie as they shall judge most proper.
That the bills which shall be emitted with the restrictions and securities aforesaid, and the same being duly notified to Congress, shall be receivable in all payments in the Continental Treasury, and,
That should it so happen that any State, at the time limited for the redemption of its said bills should be rendered incapable thereof by being in the possession of the common enemy, its said bills shall be punctually redeemed or paid off by the United States and charged to such State until able to repay the same.
That the States be called on to pay into the Continental Treasury monthly for 8 months commencing with the 1.st day of May next, their quotas of 500,000 Dollrs in specie or the aforesaid bills to be emitted which quotas and those of the bills to be emitted, to be in like proportion as the assigned quotas of the bills to be sunk.1
[Note 1: 1 This report, in the writing of Oliver Ellsworth, is in the Papers of the Continental Congress, No. 26, folio 141.]
Ordered, That the same be taken into consideration on Thursday next.
The committee, to whom was referred the motion of Mr. [Thomas] McKean, brought in a report, which was read.
Congress took into consideration the report of the committee on the letter of January 13th, from the president of the council of Massachusetts Bay; Whereupon,
Resolved, That the president of the council of Massachusetts Bay be informed, in answer to his letter of the 13th of January last, that all grants and allowances, of what name or nature soever, made by Congress to the officers and soldiers of
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the continental army, in addition to their pay, rations or bounties, since the first day of January, 1777, (except for extra services, or expences in special cases) were made in consideration of the enhanced prices of the necessaries of life, in consequence of the depreciation of the paper currency, and ought to be accordingly considered in making good the original contract.1
[Note 1: 1 This report, in the writing of Roger Sherman, is in the Papers of the Continental Congress, No. 20, I, folio 53.]
Previous to passing the foregoing resolution,
A motion was made by Mr. [James] McLene, seconded by Mr. [Roger] Sherman, to strike out "in making good the original contract." On the question, shall the words moved to be struck out stand,
The yeas and nays were required by Mr. [William] Ellery,
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So it passed in the affirmative.
Congress took into consideration the report of the committee on Mr. [Thomas] McKean's motion to recommend to the several states an alteration of the laws of tender; and after some debate,
Ordered, That the farther consideration thereof be postponed.
A motion was then made by Mr. [Oliver] Ellsworth, seconded by Mr. [Thomas] Burke, and the same being some time under consideration,
Resolved, That to morrow be assigned for the farther consideration thereof.
Adjourned to 10 o'Clock to Morrow.
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