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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 --FRIDAY, MARCH 5, 1784.

Journals of the Continental Congress, 1774-1789 PREVIOUS SECTION .. NEXT SECTION .. NAVIGATOR

Journals of the Continental Congress, 1774-1789
FRIDAY, MARCH 5, 1784.

Link to date-related documents.

Congress assembled: Present as yesterday.

On the report of a committee, consisting of Mr. [Thomas] Jefferson, Mr. [David] Howell and Mr. [Arthur] Lee, appointed to consider and report what further arrangements

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are necessary to carry into effect the proposed treaty with the Indians;

Resolved, That the president immediately inform the gentlemen elected commissioners for holding a treaty with the Indians, of the said election, and that, as it is the wish of Congress, that the negotiations should commence as soon as possible, the commissioners are desired to meet at New York, on the 10th day of April next, to fix upon the times and places of holding the treaties with the different nations and tribes of Indians, and give them respectively the speediest information of the time and place determined on, inviting them to meet accordingly.

Resolved, That all appointments of persons for negotiating with the Indians, prior to that of the 4 instant, be, and they are hereby revoked.

Ordered, That the secretary prepare and lay before Congress, the form of a commission, for the persons appointed to negotiate with the Indians, making any three of the same competent to the business of their commission.

Resolved, That each of the Commissioners attending the Treaty shall be allowed--dollars a day, in full for his services during such attendance exclusive of his expences necessarily incurred.1

[Note 1: 1 This report, in the writing of Arthur Lee, is in the Papers of the Continental Congress, No. 30, folio 207. A memorandum of the motions consequent upon the last paragraph, which was lost is indorsed on the report, as follows:

]

The Committee [Mr Hugh Williamson, Mr Elbridge Gerry, Mr James Tilton, Mr Thomas Jefferson, Mr James McHenry] appointed

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to consider what reductions may be made in the civil last have agreed to the following resolutions,

Resolved, That the following offices be discontinued to wit:

Resolved, That the following salaries may be reduced by taking from the allowances heretofore established the following sums,

Resolved, That instead of the annual salary heretofore allowed to the Judges of the Court of appeals they be allowed on every special occasion, wherein they shall be called on, the sum of 14 Dollars each for every day they shall sit in Court, and the same for every day necessarily employed in travelling to and from Court.

Resolved, That after theday ofthe following offices may be discontinued:

Resolved, That the duties of Agent of Marine be performed by the Secretary at War, who for his assistance therein shall retain a Secretary of Marine heretofore allowed in the office of the Agent of Marine.

A view of the Civil List as proposed to be reduced, (stated for the satisfaction of the House, but not made a part of the Report.)

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[Report upon the motion for reducing certain loan office certificates.]

The Committee [Mr. Arthur Lee, Mr. Roger Sherman and Mr. Jacob Read] appointed on a motion offor devising ways and means to discharge that part of the public debt consisting of Continental loan office certificates issued between the 1st of Sept. 1777 and the 1st of March 1778, beg leave to report,

That it appears from accounts certified by the Register, that the nominal amount of the said certificates is 3,459,000 dollars on which by virtue of the Resolutions of Congress an annual Interest of 6 per ct. is payable in specie amounting to 207,540 dollars. That the said principal sum reduced to specie value by the scale adopted for that purpose amounts to 2,438,571 dols. which at 6 per ct. would bear an annual interest of 146,314 dols., so that the Interest now paid on the nominal sum of the said certificates is a little more than eight and an half per cent per annum on the real sum and exceeds the interest of 6 per ct. on the specie value 61,226 dols. per annum, the saving of which is in the opinion of the Committee an object worthy of the immediate attention of Congress the States.

Upon which they submit the following resolution:

Whereas the loan office certificates issued on the credit of the U. S. between the 1st Of September 1777 and the 1st of March 1778 draw an annual Interest of 6 per ct. on the nominal sum, being about 8 and an half per cent on the true value reduced by the continental scale of depreciation, the excess above 6 per ct. amounting annually to the sum of 61,226 dols. which cannot be remedied but by paying the principal due on the said certificates.

Resolved, That the States be called upon to raise in such way as may be most convenient to them and pay into the Treasury of the United States hands of the Continental Receivers in the respective States by the last day of December next, the sum of 2,500,000 dollars in the following proportions:

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Which sums may be paid in money or in the loan office certificates aforesaid reduced to specie value by the continental scale of depreciation.

And that each State may be excited to a speedy compliance with this requisition, and not be prejudiced by the negligence of any other States--

Resolved, That the several States shall be allowed interest at the rate of 6 per ct pr annum on the nominal sums which shall be paid in the said certificates by them respectively from the time the same shall be paid into the hands of the Continental Receiver until every State shall have furnished its quota aforesaid.

Resolved, That the monies arising from the said Requisition be applied to the discharge of the principal of the said loan office certificates, and to no other purpose whatsoever.1

[Note 1: 1 This report, in the writing of Arthur Lee, is in the Papers of the Continental Congress, No. 29, folio 205. The indorsement states that it was read on this day and 19 Sept., 1786, referred to Mr. [Nathan] Dane, Mr. [Edward] Carrington and Mr. [Melancthon] Smith. See post, September 19, 1786.]

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