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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, JANUARY 25, 1781
A letter, of 23, from Mr. S. Attle, was read;1
[Note 1: 1 This letter, from Samuel J. Atlee, is in thePapers of the Continental Congress, No. 78, I, folio 395.]
Ordered, That it be referred to a committee of three:1
The members, Mr. [Alexander] McDougall, Mr. [Abraham] Clark, Mr. [John] Sullivan.
A letter, from Doctor Gould, was read;
Ordered, That it be referred to the Medical Committee.
A letter, of Captain Paske, was read;2
[Note 2: 2 Captain Paschke's letter, dated January 22, is in thePapers of the Continental Congress, No. 78, XVIII, folio 345.]
Ordered, That it be referred to the Board of War.
Two reports from the Board of War one on a letter, of 24, and the other on a letter, of 13, from Colonel Armand, were read;
At a Board of War,Jany. 24, 1781.
Present Mr Peters
Genl. Cornell.
Sir
The enclosed letter from Col Armand is agreeable to his request therein laid before Congress. The Board presumed that as Col Armand is going to Europe and will not otherwise have an opportunity of partaking in the Provision made or to be made by Congress for the payment of the Army it should seem that there can be no cause of jealousy if Congress are pleased to direct,
That the Treasury Board report a warrant in favor of Col Armand for seven hundred and twelve dollars and an half, the same being the amount of his pay and subsistence for six months.3
[Note 3: 3 This report is in thePapers of the Continental Congress, No. 147, VI, folio 103.]
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Ordered, That the same be referred back to the Board of War to take order, the resolution of the 4th notwithstanding.
A report from the Board of Treasury was read; Whereupon,
Ordered, That upon the application of the honble Cyrus Griffin, one of the judges of the Court of Appeals in Cases of Capture, a warrant issue in his favour on Thomas Smith, commissioner of the continental loan office for the State of Pensylvania, for one thousand dollars new emissions, on account of salary due to him and for which he is to be accountable.1
[Note 1: 1 This report is in thePapers of the Continental Congress, No. 136, V, folio 57.]
On the application of Mr. [William] Sharpe, a delegate for the State of North Carolina:
Ordered, That a warrant issue in his favour on Thomas Smith, commissioner of the continental loan office for the State of Pensylvania for twenty thousand dollars old emissions, and for which the said State of North Carolina is to be accountable.
According to the order of the day, Congress was resolved into a Committee of the Whole, and after some time the President resumed the chair and Mr. [John] Mathews reported, that the committee have had under consideration the reports referred to them, but not having come to a conclusion desire leave to sit again:
Ordered, That to Morrow Congress be resolved into a Committee of the Whole to consider farther the reports referred to them.
A report from the Board of Treasury was read, respecting the owners of rum taken for the use of the army:
Treasury Office,January 22d. 1781.
The Board of Treasury finding themselves greatly embarrassed by endeavouring to carry into Execution the Resolution of Congress of the 4th instant, relative to certain Quantities of Rum taken for the
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Use of the Army, and other Quantities purchased on Special Contract, beg leave to state the Matter for Instruction.
The several Claimants under the Resolution aforesaid have had their Accounts stated by the Agent of the Commissary General of Purchases, stating the Articles charged, "at their just Value estimated by the current Price of such Articles at the Time and Place when and where taken". Those who had their Property taken in June last, have considered the Value of Moneythen, at sixty paper dollars for one Silver dollar, and now consider the Rate of Exchange at one hundred of the former for one of the latter. Of Consequence they have added to their Accounts from June last to the present Time 40 per cent Depreciation. Those who had their Property taken in September last do consider that at that Time the Current Rate of Exchange was 75 Paper dollars for one Silver, and as in the Case above stated have brought the Rate of Exchange up to one hundred for one, making a Charge for Depreciation of 25 Per Cent from September last to the present Time.
The Claimants are willing to receive Payment in the money of the old Emissions agreeably to the State of their Accounts as aforesaid which appears to have been the Intention of Congress by their Resolution aforesaid and one other of the 8th instant repealing a part of the Resolution of the 4th. But this Board not having it in their Power to report Payment in the Money of the former Emissions, and Congress not having fixed any Rate of Depreciation since the 18 of March last renders the present Case difficult.
The well known Mercantile Exchange between the Money of the old Emissions, and Gold, is one hundred for one, and the legal Exchange, as established by a Law of the State of Pennsylvania, is not more than seventy five for--one evidently produces a difference of 25 per cent between the true Value of the Money of the old Emissions, if Gold and Silver be considered the Criterion.
The Claimants alledge that in the stating of their Accounts they had respect to Mercantile Rate of Exchange only, so, in the Payment, it is but equitable to observe the same Rule, for at the Time they admit Depreciation was 60 and 75 for one in June and September last, Congress by their Publications admitted of no greater Depreciation than 40 for one. That if the Mercantile Depreciation is admitted in the first Instance it should also in the second--Otherwise they say they are willing to receive the Amount of their original
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Claim without any Allowance for Depreciation, agreeably to the Regulation of 40 for one.
The Claim reduced to Calculation stands as follows--
The Amount of the several Claims for Rum, now before the Board, exclusive of Interest and depreciation is 1,028,020 dollars. This Sum divided by 40 will give 25,700 dollars in the New Bills--The same Claim including Depreciation and Interest charged in their Accounts upon the Principles aforesaid, amounts to 1,605,196 dollars of the old Bills which Sum divided by 75 gives 21,402 dollars in the New Bills--Balance in favor of this Payment 4298 Specie dollars; but if the Claim aforesaid of 1,605,196 dollars be divided by one hundred, which they say by their Accounts is the Mercantile Depreciation, the Specie Dollars to be paid them will be 16,051. This Payment will not be accepted, tho' it is most certainly the true Exchange supposing the new Bills to be equal in Value to Silver and Gold. But as those Bills have and now do pass, this Payment would be 25 Per Cent under the real Value of their Claim.
The Board verily believe that some, if not all of the Claimants are in the utmost Distress for want of their Money and as it is a subject of no small Magnitude hope it will Claim the Attention of Congress, not only as it respects the present Claimants, but as it relates to monied Matters generally.
This Debt being so considerable the Board cant even suggest to Congress how Payment shall be made, unless by a Warrant on the Loan Officer of Massachusetts Bay, where there is more than a sufficient for this Purpose; but as the Money is wanted in this City, where the Massachusetts Money passes very heavily even at 40 for one, the Claimants will receive Payment in that money reluctantly.
In the Opinion of the Board it has been mistaken Policy in the States that they have not made the whole of the Emissions of the 18 of March last legal Tender, for altho particular States have provided Funds for the Redemption of certain Stipulated Sums, yet, ought not the whole of that Emission to be considered as the Money of the United States, and in that View obtain a Credit in every State, upon the same Principles the Money of the old Emissions did. Unless the States do attend to this Matter public Business must be greatly obstructed.
The Board beg leave to submit it to Congress, whether it is not indispensibly Necessary, that they should immediately recommend
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it to the several States, to pass Laws making the money issued in all the States, respectively, under the Act of the 18 of March last, a legal Tender in all Cases whatever.1
[Note 1: 1 This report is in thePapers of the Continental Congress, No. 136, V, folio 43.]
Ordered, That it be referred to the committee to whom was formerly referred the memorial from Mat McConnel and others.
A letter, of this day, from the Board of War, was read, informing that for reasons therein set forth they have suspended a compliance of the order of yesterday respecting the officers late of the German regiment;2
[Note 2: 2 This letter is in thePapers of the Continental Congress, No. 148, I, folio 295.]
Resolved, That Congress approve the conduct of the Board.3
[Note 3: 3 A memorial of Edward West was read on this day as the indorsement shows. It is in thePapers of the Continental Congress, No. 41, X, folio 536.]
Adjourned to 10 o'Clock to Morrow.
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