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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 --SATURDAY, AUGUST 26, 1780
A memorial of William Murray was read:2
[Note 2: 2 This memorial, dated August 25, 1780, is in the Papers of the Continental Congress, No. 41, VI, folio 191.]
Ordered, That it be referred to a committee of three:
The members chosen, Mr. [Thomas] McKean, Mr. [Timothy] Matlack and Mr. [Samuel] Adams.
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Congress took into consideration the report of the Committee on the Post Office, on Mr. Bec's motion, and
Resolved, That the resolution of the 27th December, 1779, ordering "that the post office be so regulated as that the post shall set out and arrive at the place where Congress shall be sitting, twice in every week, to go so far as Boston, in the state of Massachusetts Bay, and to Charlestown, in the state of South Carolina," be and hereby is repealed.1
[Note 1: 1 This report is in the Papers of the Continental Congress, No. 61, folio 479.]
A report from the Board of Treasury was read; Whereupon,
Treasury Office August 24 1780
On the information from the Board of Admiralty to Congress dated 19th. instant and referred,
The Board beg leave to Report, That they will direct the Treasurer to pay to the Board of Admiralty upon the warrant of 700,000 dollars in their favour yet unsatisfied, two hundred thousand dollars, out of the first monies that shall come into the Treasury, to answer the urgent purposes set forth in their letter of information to Congress.
Ordered, That on the application of the superintendants of the press, a warrant issue on the treasurer in their favour, for three thousand dollars, to defray the contingent expences of their office; and for which they are to be accountable.
That on the application of David C. Claypole, printer to Congress, a warrant issue on the treasurer, in his favour, for ten thousand dollars; for which he is to be accountable.2
[Note 2: 2 This report is in the Papers of the Continental Congress, No. 136, IV, folio 539.]
Treasury Office August 22 1780
The Board having considered the letter from the Board of War to the President of Congress dated the 18th. instant and referred to them--Beg leave to Report,
That every Resolution of Congress relative to the bringing money into the Treasury, hath been strictly attended to, and so far as in the power of the Board carried into effect. The results of those various efforts have been duly reported to Congress. The Board think it their duty to report explicitly, that there is no money in the Treasury,
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and unpaid warrants out, to the amount of three Millions of Dollars, and that no warrant hath yet issued in favour of the Board of War, for the four Million of Dollars granted to that Board for the purposes expressed in the Resolution of Congress of the 25th. of July last,
That the Resolution of Congress of the 29th. of June last directing warrants for balances, puts it out of the power of the Board, to report any warrants on the States for any part of their quotas unpaid up to the 1st. of March last,
Whereupon they submit the following Resolution:
Resolved, That the Board of Treasury be and hereby are authorised and directed to report warrants on the respective states, to compleat their several balances due to the United States, up to the first day of March last; which sum so drawn for and received shall be credited on their respective warrants drawn, agreeably to a resolution of the 29th of June last.1
[Note 1: 1 This report is in the Papers of the Continental Congress, No. 136, IV, folio 533.]
Congress took into consideration the report of the committee appointed to devise ways and means for preventing the farther issue of certificates, and for carrying into effect the resolutions of the 18 March last, &c. and thereupon came to the following resolutions:
Whereas a large and immediate supply of money is necessary for carrying on the operations of the war, and for the payment of debts due for supplies heretofore furnished, and for the payment of interest on loan office certificates:
Resolved, That it be earnestly recommended to the several states, to take the most speedy and effectual measures in their power, for drawing in their respective quotas of the continental bills of credit, to be destroyed, either by a tax to be collected immediately, or by exchanging for them new bills, to be emitted pursuant to the act of the 18th of March last, at a rate not less than forty of the former for one of the latter; so that the whole of the said new bills may be issued:
and whereas a further supply of money will be necessary for the purposes aforesaid, and a tax payable in the bills aforesaid will make
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a universal demand for them and so have a good tendency to introduce them into circulation in full credit
That it be recommended to the several states to raise by taxes, payable in the bills emitted pursuant to the act aforesaid, or in specie, their respective quotas of three millions of dollars, agreeable to the apportionment of the 7th of October, 1779, and pay the same into the treasury of the United States as soon as possible; the payment to be fully compleated by the last day of December next, each state to be allowed interest for the same, from the time it is paid, to be hereafter adjusted, according to a resolution of the 6th of October, 1779:
That Major General Greene, late quarter master general, and Jeremiah Wadsworth, late commissary general of purchases, and the present commissary general of purchases, respectively, render an account to the Board of Treasury of the amount of the monies due from them, on certificates or otherwise, on public account, specifying the sum due in each state, in order that warrants may issue in their favour on the treasurers of such states, for payment of the same, out of the monies to be collected for the United States, as aforesaid, which warrants being paid, shall be accepted by the treasurer, toward such state's quota of the monies to be raised as aforesaid; and it is further recommended to such states to provide that the certificates of the said quarter master and commissaries, and those who purchased under them, be received in payment of the said taxes, to the amount of such warrants, under like proper regulations as is provided by the resolution of the 26th of May last for preventing frauds.
And, Whereas, it is very important to the Interest of these United States, that the credit of the new currency be supported equal to specie, and there can be no reasonable doubt but that its credit may be preserved, considering the Tenor of the bills, the Funds on which they are issued, and the other provisions made or recommended for
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that purpose, if the quantity in circulation is not increased beyond the sum limited by the resolution of the 18th of March last:
Resolved, That it be recommended to the several states not to issue bills of credit for a currency, on any consideration whatever, to a greater amount than their respective quotas of the sum to be issued by the resolution of the 18th of March last to be in circulation at any one time, and such of the states as may have lately emitted Bills on their own credit previous to their receiving their quotas of the bills prepared agreeable to the resolution aforesaid are requested to consider the Bills so emitted as part of their said quota.
[And to prevent the possibility of any depreciation in the bills to be emitted agreeably to the act of the 18 March aforesaid, that it be most earnestly recommended to the several states not to issue bills of credit for a currency on any consideration whatever to a greater amount than their respective quotas of the new bills stated in the act aforesaid to be in circulation at any one time, and that it be recommended to such states as have lately issued bills of credit immediately to call in and redeem the same by giving in exchange for them the bills emitted agreeably to the resolution aforesaid and referred to such states respectively;
and that the bills of credit emitted by any of the states since the first day of January last, and redeemable in specie at par, be considered as part of the proportion of the money reserved by the said act of the 18 of March, to the use of the state.]1
[Note 1: 1 This report, in the writing of Roger Sherman, except the portions in brackets, is in the Papers of the Continental Congress, No. 26, folios 197--201.]
Congress took into consideration the report of the committee on the letters, of the 8th June, from Governor Trumbull, and of the 21 July last, from Mr. T[homas] Burke; and thereupon,
Resolved, That, all and singular, the creditors of these United States, for supplies furnished the army, or the transportation thereof, shall be entitled to receive the just value
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of the sums due to them respectively, in the bills of credit emitted pursuant to the act of the 18 of March last, the value of the sums due to be ascertained according to the current value of continental bills of credit compared with specie at the time the money became due, at the place where the supplies were furnished; provided the same do not exceed the prices fixed for such supplies, by the act of 25 of February last or a proportionate value for services done, and articles furnished, not mentioned in the said act; but if the nominal sum, in continental currency, contracted for, when reduced to specie value as aforesaid, shall exceed the fixed prices aforesaid, the creditor shall be entitled to receive the amount of the supplies furnished or services done, at the said fixed or proportionate prices, in the new bills aforesaid, or the nominal sum contracted for in continental bills of credit, and no more, at his election:
That the accounts being duly examined and adjusted by the rule aforesaid, by commissioners that may be appointed agreeably to the resolution of the 12 of June last, to settle the accounts of officers of the staff departments in the several states, or by the officer who made the contract, or by whom the payment is to be made, the same shall be paid, or a certificate given, for the sum justly due, certifying that the same hath been duly examined and adjusted, agreeably to the directions aforesaid; and if paid in the new bills, the interest on the said bills shall be computed to the date of such certificate:
That all debts due to the United States for monies received for their use, or otherwise, within any of these states, shall be paid according to the just value of the money when it was received, or became due, to be ascertained as aforesaid.
That Congress approve of the engagements of Mr. Burke mentioned in his letter of the 21st. July last that all persons in North Carolina,
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who shall furnish supplies to the Southern army shall be paid for them without depreciation or less, and with interest at six per cent. until paid.1
[Note 1: 1 This report, in the writing of Roger Sherman, except the final paragraph, which is in the writing of Thomas McKean, is in the Papers of the Continental Congress, No. 20, I, folio 263. The report, and the preceding one, except the fifth paragraph, were printed separately with the prices fixed by the resolutions of February 25, 1780, and that of June 12, 1780. A copy may be found in No. 136, V, folio 21.]
The committee, to whom was referred an extract of a letter from the council of the State of Massachusetts Bay, brought in a report; Whereupon,
Resolved, That the council of the State of Massachusetts Bay be informed, that the French army was not considered in the general estimate of supplies called for by Congress, and that therefore, the state cannot be credited on its quota for such articles as it may furnish to our allies.
On motion of Mr. [Robert R.] Livingston, seconded by Mr. [Samuel] Adams,
Ordered, That the Board of Admiralty form and lay before Congress an estimate of the rate at which ships of war from twenty to forty guns, might be built on contract, were specie furnished for the purpose, exclusive of the expence of rigging.
Adjourned to 10 o'Clock on Monday.
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