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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 --THURSDAY, JUNE 22, 1780
Mr. Willie Jones, a delegate for North Carolina, attended and produced the credentials of the delegates of that State, which are as follows:
The Sovereign and Independent State of North Carolina
To the Honourable Willie Jones, Whitmill Hill, Thomas Burke, Allen Jones, William Sharpe, and Samuel Johnson Esquires Greeting
We the said State reposing especial trust and confidence in your wisdom, Virtue and fidelity, do by these presents constitute and appoint you the said Willie Jones, Whitmill Hill, Thomas Burke, Allen Jones, William Sharpe and Samuel Johnson Esquires Delegates to represent this State in Congress agreeable to the rules and regulations established by Law; and we do hereby vest in you all the powers, authorities, rights, and priveledges appurtaining or belonging to this your appointment, you governing yourselves from time to time agreeable to such orders as shall be transmitted to you by authority of our General Assembly.
Witness Abner Nash Esquire Governor Captain General and Commander in chief in and over the said State as given under his Hand and the great Seal of the State this 30th day of April Anne Dom. 1780 and in the fourth year of our Independence.
Signed A. Nash.
with the great Seal appendant.
By His Excelly's Comd
J. Glasgow, Sec.1
[Note 1: 1 The original is in the Papers of the Continental Congress, North Carolina, Crentials of Delegates.]
The delegates for South Carolina laid before Congress a letter, of 24 May, from Governor Rutledge, of South Carolina, with sundry papers enclosed, which were read:
Ordered, That the same be referred to a committee of three:
The members chosen, Mr. [Thomas] Bee, Mr. [Oliver] Ellsworth and Mr. [James] Duane.
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A memorial from William Stow, clerk to the navy board, eastern department, was read:1
[Note 1: 1 This memorial, dated May 29, 1780, is in the Papers of the Continental Congress, No. 41, IX, folio 106; the letter enclosing it is in No. 78, XX, folio 511.]
Ordered, That it be referred to the Board of Treasury.
A letter, of 19, from the committee at headquarters, enclosing a letter of the same date to them from the Commander in Chief, and a copy of a circular letter, of that date, from the committee to the several states, from New Hampshire to Virginia, inclusive.2
[Note 2: 2 This letter is in the Papers of the Continental Congress, No. 39, I, folio 85. It was transcribed in the Committee Book, 1780, Proceedings of the Committee appointed the 13th of April, 1780, folio 28.]
Congress resumed the consideration of the report of the committee on the papers relative to loan office certificates; after debate a motion was made by Mr. [James] Duane, seconded by Mr. [Samuel] Holten, that the farther consideration thereof be postponed.
And on the question for postponing, the yeas and nays being required by Mr. [Frederick A.] Muhlenberg,
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So it passed in the negative.
Congress proceeded in the consideration of the report, and a paragraph being under debate, viz.
That the value of the bills when loaned shall be ascertained by computing thereon a progressive rate of depreciation, commencing with the day of &c.
A motion was made by Mr. [Timothy] Matlack, seconded by Mr. [Frederick A.] Muhlenberg, that the blanks be filled with the "first March, 1778." On which the yeas and nays being required by Mr. [Philip] Schuyler,
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So it passed in the negative.
A motion was made by Mr. [William Churchill] Houston, seconded by Mr. [Philip] Schuyler, that the blank be filled "first December, 1777."
On which the yeas and nays being required by Mr. [Thomas] McKean,
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So it passed in the negative.
A motion was then made by Mr. [Thomas] McKean, seconded by Mr. [Philip] Schuyler, to fill the blank with "10th September, 1777."
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On which the yeas and nays being required by Mr. [Thomas] McKean,
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So the states were equally divided and the question was lost.
A motion was then made by Mr. [Thomas] McKean, seconded by Mr. [Philip] Schuyler, to insert "first September, 1777,"
On which, the yeas and nays being required by Mr. [Nathaniel] Folsom,
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So it was resolved in the affirmative.
Ordered, That the farther consideration of the report be postponed till to morrow.
The committee, appointed to confer with the inspectors and directors of the proposed bank brought in a report, which was read stating.
That the gentlemen appointed1 to confer with the committee, communicated to them a plan for the establishment of a bank for the sole purpose of furnishing and transporting on the credit and by the exertions of the subscribers, three millions of rations and three hundred hogsheads of rum for the use of the army.
[Note 1: 1 From this point the entries are made by George Bond, of the Secretary's Office.]
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That the committee were in the said conference in the said bank to amount of two hundred and seventy five thousand pounds, Pensylvania currency; and that there is no doubt but that such further sums as will be necessary to its credit and the object of its establishment will be cheerfully subscribed.
That this liberal offer at a conjucture when the efforts of the states have not produced sufficient supplies, is equally seasonable and praiseworthy.
That as the subscribers mean not to derive to themselves the least private gain from their patriotic exertions, so it is the opinion of the committee, that they ought to be fully indemnified against any loss or expense with which it may be attended.
The committee also laid before Congress the Plan of the bank, Communicated to them at the said conference, which being read, Congress thereupon came to the following resolutions:
Whereas a number of the patriotic citizens of Pennsylvania, have communicated to Congress a liberal offer, on their own credit and by their own exertions, to supply and transport three millions of rations and 300 hogsheads of rum for the use of the army, and have established a bank for the sole purpose of obtaining and transporting the said supplies, with greater facility and despatch; and whereas on the one hand the associators, animated to this laudable exertion by a desire to relieve the public necessities, mean not to derive from it the least pecuniary advantage, so on the other it is just and reasonable that they should be fully reimbursed and indemnified: therefore,
Resolved, unanimously, That Congress entertain a high sense of the liberal offer of the said associators to raise and transport the before mentioned supplies for the army, and do accept the same as a distinguished proof of their patriotism.
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Resolved, That the faith of the United States be, and the same hereby is pledged to the subscribers to the said bank, for their effectual reimbursement and indemnity in the premises.
Resolved, That the Board of Treasury be directed to deposit in the said bank, bills of exchange in favor of the directors thereof, on the ministers of these United States, in Europe, or any of them, and in such sums as shall be thought convenient, but not to exceed in the whole one hundred and fifty thousand pounds sterling; that the said bills are to be considered not only as a support of the credit of the said bank, but as an indemnity to the subscribers for all deficiencies of losses and expences which they may sustain on account of their said engagements, and which shall not, within six months from the date hereof, be made good to them out of the public treasury; and in case of failure, such a proportion of the said bills as shall be requisite to make good the said deficiency, shall be negotiated for that purpose by the said directors, and the residue thereof returned into the treasury.
Resolved, That upon representation made that the bank stands in need of occasional assistance, Congress will advance as much of their current money as can be spared from other services.
Resolved, That a standing committee of Congress be appointed to confer with the officers of the said bank, as occasion may require:
The members chosen, Mr. [Oliver] Ellsworth, Mr. [James] Duane, and Mr. [John Morin] Scott.1
[Note 1: 1 This report, in the writing of James Duane, is in the Papers of the Continental Congress, No. 20, II, folio 85.]
Adjourned to 10 o'Clock to Morrow.2
[Note 2: 2 Here Charles Thomson resumes the entries.]
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