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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, AUGUST 13, 1782.]
The committee on the letter of Superintendant of Finance of 23 July report,
That all the transactions included in the late Commissary General Joseph Trumbul's acct. referred to them, were at a time prior to the commencement of the date of any depreciation, as marked in the table published by Congress--but that an actual depreciation had then begun as appears by the advanced prices of many of the latter purchases.
That the rates of the commissions on the expenditures were settled by a resolution of Congress posterior to such date, and when the depreciation was considerable--hence the question, whether the commissions should be valued as specie or be estimated by the depreciation at the period of said resolution.
Your committing laying it down as a principle that the value of the commissions earned should be as the expenditures from which they arise, observe, that neither of the above modes of determination will be consistent.
Your Committee are of opinion that in this case either of the modes of settlement would be erroneous, they laying it down as a principle that the value of the commissions earned should be as the expenditures from which they arise--in conformity to this principle they offer the following resolution,
Thatbe directed in the settlement of the accounts of the late Commissary General Joseph Trumbul, to assume some capital article or articles in his purchases as a standard and by the advance at the several periods beyond the current specie prices, to discover the actual depreciation in his expenditures; and that he thereby
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adjust the true value and amount of the commissions to be allowed the said Commissary General on his expenditures.
And that by the same rule he ascertain the true value of those sums he applied to his own use out of the several issues, in order that a just ballance may be struck.1
[Note 1: 1 This is indorsed: 1st report--Report of Mr. [George] Clymer, Mr. [Jonathan] Jackson, Mr. [Edward] Telfair. It was recommitted to confer with the Superintendent of Finance. It is in the writing of George Clymer and is in the Papers of the Continental Congress No. 19, VI, folio 63. Committee Book, No. 186, shows that it was delivered August 13 and that another report was made September 16. See post October 1.]
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