John Jay was born in New York City on
December 12th, 1745 and died in Bedford, Westchester County, New York, on May
17th, 1829. He was of Huguenot descent, and was educated in part by Pastor
Stoope, of the French church at New Rochelle. He attended Kings College (now
Columbia University) in Manhattan, graduating in 1766.
Jay studied law with Benjamin Kissam,
having Lindley Murray as his fellow student and was admitted to the bar in 1766.
When news of the passage of the Boston port bill reached New York on May 16th,
1776, Jay was appointed a member of a Committee of Correspondence with the other
colonies. Their reply to the Boston Committee, attributed to Jay, recommended,
as of the utmost moment, "a congress of deputies from the colonies in
general." Jay was a delegate to the First Continental Congress, which met in
Philadelphia
on September 5, 1774. As one of a committee of three, he prepared the
"Address to the People of Great Britain," which Thomas Jefferson, while
ignorant of the authorship, declared to be "a production certainly of the
finest pen in America."
Jay was an active member
of the committee of observation in New York, on whose recommendation the
counties elected a provincial congress. He was also active on a committee of
association of 100 members, invested by the city of New York with general
undefined powers. He was a member of the second congress, which met in
Philadelphia, 10 May 1775, and drafted the "Address to the People of Canada
and of Ireland". During
that period he carried against a strong opposition a petition to the king, which
was signed by the members on July 8th. The rejection of this petition, leaving
no alternative but submission or resistance opened the way for a general
acquiescence in the Declaration of Independence.
Jay was a member of the secret
committee appointed by Congress, 29 November 1775, after a confidential
interview with a French officer, "to correspond with the friends of America in Great Britain,
Ireland, and other parts of the world." While he was attending congress at
Philadelphia, Jay's presence was requested by the New York convention, which
required his counsel. This convention met at White Plains,
9 July 1776, and on Jay's motion unanimously approved the Declaration of
Independence, which on that day was received from the Continental Congress.
The passage of a large part of Lord
Howe's fleet up the Hudson induced the appointment by the convention of a
secret committee vested with extraordinary powers, of which Jay was made
chairman. Another committee was formed to defeat conspiracies in the state
against the liberties of America. The resolutions guiding this committee were
drawn by Jay and its minutes, many of which are in his hand, show the energy
with which it exercised its powers through arrests, imprisonments, and
banishments, and the vigorous system demanded by the critical condition of the
American cause for Independence. The successes of the British in New York; the
retreat and needs of Washington's army, had induced a feeling of despondency,
throughout the States in 1776. John Jay was the author of an earnest appeal to
his countrymen, which by order of the Continental Congress was translated into
German and widely circulated.
Jay drafted the state constitution
adopted by the convention of New York, which met successively at Harlem,
Kingsbridge, Philip's Manor, White Plains, Poughkeepsie and Kingston. He was
appointed chief justice of the state, holding his first term at Kingston on 9
September 1777, and acting also on the council of safety, which directed the
military occupation of the state and wielded an absolute sovereignty. He was
visited at Fishkill, in the autumn of 1778, by General Washington for a
confidential conversation on the invasion of Canada by the French and American
forces, which they concurred in their disapproval, chiefly on the probability
that if conquered it would be retained by France.
Jay was again sent to Congress on a
special occasion, the withdrawal of Vermont from the jurisdiction of New York.
During this period New York was determined to hold the Continental Congress
Presidency, and their choice was General Schuyler who was not present at the
time. According to Sparks,
editor Writings of
Washington:
“On the account of his abscense, Mr.
Jay was prevailed upon to take the chair, with a resolution on his part to
resign in favor of General Schuyler as soon as he attends”
John Jay arrived in Congress on
December 5th, 1778 the same day Silas Deane published an appeal "to Free and
Virtuous Citizens of
America". Deane had been
recalled from France for alleged corrupt dealings by Arthur Lee. In the summer
of 1778 he attempted to clear himself but Congress sought to resolve the impasse
not by calling back Arthur Lee to substantiate his claim but by tabling the
matter. In his address (see the previous chapter for a full account of this
affair), Deane indicted the conduct of his fellow commissioner Arthur Lee and
obliquely challenged the authority of Congress. Samuel Adams, who had led the
anti-French faction, with the help of President Henry Laurens, opposed Deane.
Supporters of Benjamin Franklin, one of Deane's fellow foreign commissioners,
came to his defense.
Jay stepped right in the middle of
the controversy. The NY Delegate had been briefed by Gouverneur and Robert
Morris that Deane, despite his exceptional contributions as a commissioner in
France, was ill-treated by Congress. John Jay who was part of the
“constructive party”, in fact, helped secure Deane's appointment. Delegate
Jay regarded Deane as honest and patriotic and had little regard for the Lees
due to a bitter dispute with Richard Henry Lee in the First Continental
Congress. Jay also knew that the Lees-Adam Faction was responsible for General
Schuyler's and Arthur St. Clair's loss of favor during Burgoyne's Campaign
against Fort Ticonderoga and Saratoga. John Jay ardently supported Deane and
therefore became a political opponent of then sitting President Henry Laurens.
President Henry Laurens was livid
over Deane's public outcry and the President unsuccessfully attempted to have
Congress censure Deane's publication. Laurens, for the third time, quit his
office expecting Congress to reject his resignation. To Laurens surprise he was
not asked to stay on as President by a majority vote of the delegates. Instead
Congress called for a recess until the following day to vote for a new
President.
The Continental Congress turned to
Laurens adversary, John Jay only three days after taking his Delegate and
elected him President of the Continental Congress on December 10, 1778. Eight
states voting for Jay and four for Laurens. On December 10th Jay
wrote George Clinton of New York:
Dear Sir
Philadelphia 10 Dec'r 1778
Many unavoidable Delays prevented my
arrival here till Sunday evening last.
Yesterday Mr. Laurens resigned the
Chair, & this morning Congress were pleased to appoint me to succeed him. This
Circumstance was unexpected. Let your public Letters be public ones. I mean that
public & private matters should not be mixed in the same Letters.
Commodore Wynkoop's memorial has been
presented & committed. You shall have the earliest Intelligence of its Fate.1 I
have heard, tho not from authority, that the Enemy have quitted the River
without having accomplished any thing of Importance. God Grant it may be true.
We have no Intelligence worth communicating.
The Season for bringing on the affair
of Vermont is not yet arrived, nor can I divine what will be the Issue of it. I
can only say that my Endeavors shall not be wanting to bring it to a Termination
satisfactory to New York. Be pleased to present my best Respects to Mrs. Clinton
& believe that I am
very sincerely your Friend & serv't,
John Jay.
Fellow N.Y. Delegate , James Duane
also wrote New York Governor Clinton:
Dear Sir, Philadelphia, 10th Dec'r,
1778.
Mr. President Laurens, who has been
in the Chair 13 months yesterday resigned, sated with honor, and worn down with
fatigue. A respect as to the Confederacy had an influence on this measure. You
remember this grand instrument of our federal union restrains the same member
from serving more than a year at one time.
A great majority of Congress
immediately determined that one of the New York Delegates should succeed in the
Chair. We held up General Schuyler, which seemed to be very agreeable. On
account of his absence, Mr. Jay was prevailed on to take the chair with a
resolution on his part to resign in favor of General Schuyler as soon as he
attends.(1) I hope we shall be able to contrive the means of his executing the
particular commission with which he is intrusted.(2) On this subject we have not
yet conferred any further than to learn to my utter astonishment that he is not
possessed of the Maps and papers reported by a Committee of Convention to
justify our claims. I entreat your Excellency to forward one of the Maps and a
copy of the minutes of the Committee, or rather of their state of the
territorial claim of New York.
All the States except Maryland and
Delaware have actually signed the Confederacy. New Jersey without waiting for
our offer. I fear it will cost me a jaunt to Maryland to prevail on that State
to accede; as I am spoken of as one of a Committee for that purpose.(3)
Disengaged as we are from any obligation to New Jersey we propose to hold out
the grant of the bounty lands to Maryland The want of ability to gratify their
soldiery is a capital if not the material objection.
I write in a hurry after the fatigues
of the day. I write in confidence because I have not time to weigh what I write.
Your Excellency I wish to see what passes on every important event.
I am with respectful compliments to
Mrs. Clinton, Dear Sir, Your Excellency's truly affectionate and most obedient
servant,
Jas. Duane
General Schuyler did not attend nor
seek John Jay’s office of President. It should be noted that in 1778, John Jay
was actually serving in a dual role of Chief Justice of New York and President
of the Continental Congress. He did not resign the Chief Justice position until
shortly before resigning the Presidency, in order to accept the position of
Foreign Secretary to the United States in 1779.
During the Presidency John Jay
continued to align himself with the contingent that was against the Adams and
Lees, the "constructive party". According to Sanders, "He wrote to Washington that the Marine
and Commercial Committees did not and could not amount to much because they were
mere tools of the 'Family Compact' who desired to keep them useless and impotent
for their own purposes. And of course he was no friend of Gates and the Cabal
Crowd." Jay was is
described by most Congressional Scholars as an elitist believing that the
wealthy, socially connected and men of intellect should govern the country.
Delegate William Carmichael's letter to Signer of the Declaration of
Independence Charles Carroll of Carrollton on January 16, 1779 gives some
indication of the inner workings of congress and John Jay:
"I am much beholden to you for your
letter of the 2nd inst. Let me assure you that all will be done-as you wish. In
this august Assembly we dawdle and dally-nothing ever gets done as one could
wish. I give you an example. There was a spirited discussion on how to reimburse
Mo Beaumarchais petition on his behalf by M. France, decided to render payment
in tobacco. It was late when Congress was ready to vote. As usual we looked to
the President to give his opinion before balloting. Mr. Jay is more judicious
than his predecessor in the chair, and less prolix, but I almost despaired of
our getting thro' because Mr. Penn, Caro[lina], would not desist. It seems that
Maryland tobacco is to be purchased which would be a pretty business."
As with his predecessors Jay was no
stranger to prayer. One of John Jay's acts as President was issuing a
Proclamation call for a Day of Fasting Humiliation and Prayer:
"PROCLAMATION
Whereas, in just punishment of our
manifold transgressions, it hath pleased the Supreme Disposer of all events to
visit these United States with a destructive calamitous war, through which His
divine Providence hath, hitherto, in a wonderful manner, conducted us, so that
we might acknowledge that the race is not to the swift, nor the battle to the
strong: and whereas, there is but too much Reason to fear that notwithstanding
the chastisements received and benefits bestowed, too few have been
sufficiently awakened to a sense of their guilt, or warmed our Bosoms with
gratitude, or taught to amend their lives and turn from their sins, that so He
might turn from His wrath. And whereas, from a consciousness of what we have
merited at His hands, and an apprehension that the malevolence of our
disappointed enemies, like the incredulity of Pharaoh, may be used as the
scourge of Omnipotence to vindicate his slighted Majesty, there is reason to
fear that he may permit much of our land to become the prey of the spoiler, and
the Blood of the innocent be poured out that our borders to be ravaged, and our
habitations destroyed:
Resolved, That it be recommended to
the several states to appoint the first Thursday in May next, to be a day of
fasting, Thanksgiving humiliation and prayer to Almighty God, that he will be
pleased to avert those impending calamities which we have but too well deserved:
that he will grant us his grace to repent of our sins, and amend our lives,
according to his holy word: that he will continue that wonderful protection
which hath led us through the paths of danger and distress: that he will be a
husband to the widow and a father to the fatherless children, who weep over the
barbarities of a savage enemy: that he will grant us patience in suffering, and
fortitude in adversity: that he will inspire us with humility and moderation,
and gratitude in prosperous circumstances: that he will give wisdom to our
councils, firmness to our resolutions, and victory to our arms That he will have
Mercy on our Foes, and graciously forgive them, and turn their Hearts from
Enmity to Love.
That he will bless the labours of the
husbandman, and pour forth abundance, so that we may enjoy the fruits of the
earth in due season. That he will cause union, harmony, and mutual confidence to
prevail throughout these states: that he will bestow on our great ally all those
blessings which may enable him to be gloriously instrumental in protecting the
rights of mankind, and promoting the happiness of his subjects and advancing the
Peace and Liberty of Nations. That he will give to both Parties to this
Alliance, Grace to perform with Honor and Fidelity their National
Engagements].1 That he will bountifully continue his paternal care to the
commander in chief, and the officers and soldiers of the United States: that he
will grant the blessings of peace to all contending nations, freedom to those
who are in bondage, and comfort to the afflicted: that he will diffuse useful
knowledge, extend the influence of true religion, and give us that peace of
mind, which the world cannot give: that he will be our shield in the day of
battle, our comforter in the hour of death, and our kind parent and merciful
judge through time and through eternity.
Done in Congress, this 20th day of
March, in the year of our Lord one thousand seven hundred and seventy-nine, and
in the third year of our independence.
John Jay,
President.
Attest, Charles Thomson, Secretary."
March 20, 1779
Proclamation for a day of Fasting Humiliation and Prayer signed by John Jay --
Courtesy of the Library of Congress.
In the spring of 1779 the rival
between Horatio Gates and George Washington arrived once again to the doorstep
of the President of the Continental Congress. Paul H. Smith Library of Congress
editor, Letters of Delegates to Congress, 1774-1789 writes
"Gates' March 15 letter to
Congress … contained his opinion of possible routes for an expedition into
Canada and discussed his correspondence with Washington on the subject, which
reflected the strained relations that had long prevailed between the two
generals. Jay made the following extract of it, which he sent to Washington
under cover of a brief note dated '6th April 1779' and marked 'Private.' 'The
enclosed Copy of my Letter to General Washington of the 4th Instant,' Gates
explained, 'in answer to his of the 14th Ulto. from Middlebrook, will give
Congress a true Idea of my opinion, respecting our entering Canada, and the
only Route which we can take with reasonable Hopes of Success. Individuals and
not the public will be benefited by an Expedition into Canada, by either of the
routes from Albany. That of Coos alone is practicable, but not without the
Co-operation of the allied Fleet.
General Washington's Letter of the
14th Feby is enclosed. It being the only Letter I have received from his
Excellency, since December, Congress will immediately judge of the Extent, or
Limitations which it is proper to observe in their Instructions to me.'
Jay's covering note to Washington
reads simply: 'Mr. Jay presents his Compliments to General Washington, and
encloses an Extract from a Letter in a certain Degree interesting.'
Washington's lengthy April 14 reply to Jay's note reflected great sensitivity
over how his correspondence with Gates might be interpreted and the intensity of
Washington's feeling against him, which prompted even a sympathetic biographer
to observe. 'Was it necessary to employ 3500 words in order to demonstrate that
Washington's dislike of Gates was justified and was as deep-seated as Gates's
bias against his Commander-in-Chief?' "
Upon Receipt of Washington's April
14th 1779 letter, President John Jay in true patriot fashion composed a warm
letter to the Commander-in-Chief:
"Dear Sir, Accept my Thanks for
the long & friendly Letter of the 14 Inst. which I have had the Pleasure of
receiving from you. It was for many Reasons grateful to me. I value the Esteem
of the wise and virtuous, and had wished to know the particulars of
Transactions, respecting which only vague and unsatisfactory Reports, had come
to my Knowledge. Delicacy forbid my breaking the Subject to you when here. I was
sure of your Politeness, but not certain of a more than usual Degree of
Confidence. The latter is now become manifest, and permit me to assure you it
shall be mutual.
The Impression attempted to be
made, has not taken. It passed without a single Remark. Your Friends thought it
merited nothing but Silence and Neglect. The same Reason enduced me to take no
Notice of it in my Answer.
I have perused the several Papers
with which you favored me. The Delicacy, Candor & Temper diffused thro' your
Letters, form a strong Contrast to the Evasions & Design observable in some
others. Gratitude ought to have attached a certain Gentleman to the Friend who
raised him. A spurious Ambition however, has it seems made him your Enemy. This
is not uncommon. To the Dishonor of human nature, the History of Mankind has
many Pages filled with similar Instances; and we have little Reason to expect
that the Annals of the present, or future Times, will present us with fewer
Characters of this Class. On the contrary, there is Reason to expect they will
multiply in the Course of this Revolution. Seasons of general Heat, Tumult and
Fermentation favor the Production & Growth of some great Virtues, and of many
great and little Vices. Which will predominate, is a Question which Events not
yet produced, nor now to be discerned, can alone determine. What Parties and
Factions will arise, to what Objects be directed, what Sacrifices they will
require, and who will be the Victims, are matters beyond the Sphere of human
Prevision. New Modes of Government not generally understood, nor in certain
Instances approved-Want of Moderation and Information in the People-want of
Abilities & Rectitude in some of their Rulers-a wide Field open for the
Operations of Ambition-Men raised from low Degrees to high Stations, and
rendered giddy by Elevation, and the Extent of their Views-Laws dictated by the
Spirit of the Times, not the Spirit of Justice and liberal Policy-Latitude in
Principles as well as Commerce-Fluctuation in Manners, and public
Counsels-Suspension of Education-Indifference to Religion, and moral Obligations
&c &c. are Circumstances that portend Evils which much Prudence, vigor and
Circumspection are necessary to prevent or controul. To me there appears Reason
to expect a long Storm, and difficult Navigation. Calm Repose and the Sweets of
undisturbed Retirement, appear more distant than a Peace with Britain.
It gives me Pleasure however to
reflect, that the Period is approaching when we shall become Citizens of a
better ordered State; and the spending a few troublesome Years of our Eternity
in doing good to this and future Generations is not to be avoided or regretted.
Things will come Right, and these States will be great and flourishing. The
Dissolution of our Governments threw us into a political Chaos. Time, wisdom and
Perseverance will reduce it into Form, and give it Strength, Order and Harmony.
In this Work you are (in the Stile of one of your Professions) a master builder,
and God grant that you may long continue a free and accepted one.
Thus my dear Sir! I have indulged
myself in thinking loud in your Hearing-it would be an Hybernicism to say in
your Sight tho in one Sense more true. It is more than probable that I shall
frequently do the like. Your Letter shall be my Apology-and the Pleasure
resulting from Converse with those we esteem, my motive."
This letter cemented a relationship
of friendship between John Jay and George Washington for the rest of their
lives. In fact, John Jay gained Washington's trust and respect when he backed
The Commander-in-Chief earlier when General Lafayette proposed to Congress a
plan to liberate the French people in Quebec. George Washington opposed the plan
and despite some significant support in Congress President Jay opposed it with
this letter:
"The Congress have directed me to
observe to you, that the Plan for emancipating Canada was conceived at a Time
when, from various movements of the Enemy there was the highest Reason to expect
a speedy & total Evacuation of all the Posts they held in these States. Those
Indications however proved fallacious & the Probability of their quitting this
Country in the Course of the Winter is become very slender, nor is it by any
Means certain that they will do it in the Spring. Prudence therefore dictates
that the arms of America should be employed in expelling the Enemy from her own
shores, before the Liberation of a Neighbouring Province is undertaken. As the
proportion of force necessary for our Defence must be determined by the future
Operations & Designs of the Enemy which cannot now be known, and as in Case of
another Campaign it may happen to be very inconvenient if not impossible for us
to furnish our proposed Quota of Troops for the Emancipation of Canada, Congress
think they ought not under such circumstances to draw their good Ally into a
Measure the Issue of which depending on a variety of Contingencies would be very
uncertain, & might be very ruinous.”
John Jay was faced, throughout his
presidency, with few more serious problems then the collapse of the continental
paper currency. Jay wrote George Washington in April 1779:
"The state of our currency is
really serious. Where or by what means the progress of the depreciation will be
prevented is uncertain."
Congress, by September, was so
concerned with the monetary system that they requested Jay to draw up a letter
to explain their resolutions for ceasing further emissions of bills of credit.
The following letter was presented to Congress which the unanimously approved
ordering a special printing and translation into German.
"Friends and Fellow-Citizens!
-In governments raised on tile
generous principles of equal liberty, where the rulers of the state are the
servants of the people, and not the masters of those from whom they derive
authority; it is their duty to inform their fellow-citizens of the state of
their affairs, and by evincing the propriety of public measures, lead them to
unite the influence of inclination to the force of legal obligation in rendering
them successful. This duty ceases not, even in times of the most perfect peace,
order and tranquillity, when the safety of the commonwealth is neither
endangered by force or seduction from abroad, or by faction, treachery or
misguided ambition from within. At this season, therefore, we find ourselves in
a particular manner impressed with a sense of it, and can no longer forbear
calling your attention to a subject much misrepresented, and respecting which,
dangerous, as well as erroneous opinions have been held and propagat-ed:--we
mean your finances.
The ungrateful despotism and
inordinate lust of domination, which marked the unnatural designs of the British
king and his venal parliament, to enslave tile people of America, reduced you to
the necessity of either asserting your rights by arms, or ingloriously passing
under the yoke. You nobly preferred war. Armies were then to be raised, paid and
supplied: money became necessary for these purposes. Of your own there was but
little; and of no nation in the world could you then borrow. The little that was
spread among you could be collected only by taxes, and to this end regular
governments were essential; of these you were also destitute. So circumstanced,
you had no other resource but the natural value and wealth of your fertile
country. Bills were issued on the credit of this bank, and your faith was
pledged for their redemption. After a considerable number of these had
circulated, loans were solicited, and offices for the purpose established. Thus
a national debt was unavoidably created, and the amount of it is as follows:
Bills emitted and circulating,
159,948,880 dollars; monies borrowed before tile 1st of March, 1778, the
interest of which is payable in France, 7,545,196 67--90ths; monies borrowed
since the first of March, 1778, the interest of which is payable here,
26,188,909; money due abroad, not exactly known, the balances not having been
transmitted, supposed to be about 4,000,000 dollars. For your further
satisfaction we shall order a particular account of the several emissions, with
the times limited for their redemption, and also of the several loans, the
interest allowed on each, and the terms assigned for their payment, to be
prepared and published.
The taxes have as yet brought into
the treasury no more than 3,027,560, so that all the monies supplied to Congress
by the people of America, amount to no more than 36,761,665 67--90 dollars, that
being the sum of the loans and taxes received. Judge, then, of the necessity of
emissions, and learn from whom and from whence that necessity arose.
We are also to inform you, that on
the first day of September inst. we resolved "that we would, on no account
whatever, emit more bills of credit than to make the whole amount of such bills
200,000,000 of dollars," and as the sum emitted and in circulation amounted to
159,948,880 dollars, and the sum of 40,051,120 dollars remained to complete the
200,000,000 abovementioned, we on the 3d day of September, inst. further
resolved, "that we would emit such part only of the said sum of 40,051,120
dollars as should be absolutely necessary for public exigencies before adequate
supplies could otherwise be obtained, relying for such supplies on the exertions
of the several states."
Exclusive of the great and
ordinary expenses incident to the war, the depreciation of the currency has so
swelled the prices of every necessary article, and of consequence made such
additions to the usual amount of expenditures, that very considerable supplies
must be immediately provided by loans and taxes; and we unanimously declare it
to be essential to the welfare of these states, that the taxes already called
for be paid into the continental treasury by the time recommended for that
purpose. It is also highly proper that you should extend your views beyond that
period, and prepare in season, as well for bringing your respective quotas of
troops into the field early the next campaign, as for providing the supplies
necessary in the course of it. We shall take care to apprize you, from time to
time, of the state of the treasury, and to recommend the proper measures for
supplying it. To keep your battalions full, to encourage loans, and to assess
your taxes with prudence, collect them with firmness, and pay them with
punctuality, is all that will be requisite on your part. Further ways and means
of providing for the public exigencies are now under consideration, and will
soon be laid before you.
Having thus given you a short and
plain state of your debt, and pointed out the necessity of punctuality in
furnishing the supplies already required, we shall proceed to make a few remarks
on the depreciation of the currency, to which we entreat your attention.
The depreciation of bills of
credit is always either natural or artificial, or both. The latter is our case.
The moment the sum in circulation exceeded what was necessary as a medium in
commerce, it began and continued to depreciate in proportion as the amount of
the surplus increased; and that proportion would hold good until the sum emitted
should become so great as nearly to equal tile value of the capital or stock, on
the credit of which the bills were issued. Supposing, therefore, that 30,000,000
was necessary for a circulating medium, and that 160,000,000 had issued, the
natural depreciation is but little more than as five to one: but the actual
depreciation exceeds that proportion, and that excess is artificial. The natural
depreciation is to be removed only by lessening the quantity of money in
circulation. It will regain its primitive value whenever it shall be reduced to
tile sum necessary for a medium of commerce. This is only to be effected by
loans and taxes.
The artificial depreciation is a
more serious subject, and merits minute investigation. A distrust (however
occasioned) entertained by the mass of the people, either in the ability or
inclination of the United States to redeem their bills, is tile cause of it. Let
us enquire how far reason will justify a distrust in the ability of the United
States.
The ability of the United States
must depend on two things; first the success of the present revolution; and
secondly, on the sufficiency of tile natural wealth, value and resources of the
country.
That the time has been when honest
men might, without being chargeable with timidity, have doubted the success of
the present revolution, we admit: but that period is passed. The independence of
America is now as fixed as fate, and the petulant efforts of Britain to break it
down are as vain and fruitless as the raging of the waves which beat against
their cliffs. Let those who are still afflicted with these doubts consider the
character and condition of our enemies. Let them remember that we are contending
against a kingdom crumbling into pieces; a nation without public virtue; and a
people sold to, and betrayed by, their own representatives; against a prince
governed by his passions, and a ministry without confidence or wisdom; against
armies half paid and generals half trusted; against a government equal only to
plans of plunder, conflagration and murder; a government, by the most impious
violations of the rights of religion, justice, humanity, and mankind, courting
the vengeance of Heaven and revolting from the protection of Providence. Against
the fury of these enemies you made successful resistance, when single, alone and
friendless, in the days of weakness and infancy, before your hands had been
taught to war or your fingers to fight. And can there be any reason to apprehend
that the divine disposer of human events, after having separated us from the
house of bondage, and led us safe through a sea of blood, towards the land of
liberty and promise, will leave the work of our political redemption unfinished,
and either permit us to perish in a wilderness of difficulties, or suffer us to
be carried back in chains to that country of oppression, from whose tyranny he
hath mercifully delivered us with a stretched out arm?
In close alliance with one of the
most powerful nations in Europe which has generously made our cause her own, in
amity with many ethers, and enjoying the good will of all, what danger have we
to fear from Britain? Instead of acquiring accessions of territory by conquest,
the limits of her empire daily contract: her fleets no longer rule the ocean,
nor are her armies invincible by land. How many of her standards, wrested from
the hands of her champions, are among your trophies, and have graced the
triumphs of your troops? and how great is the number of those, who, sent to bind
you in fetters, have become your captives, and received their lives from your
hands? In short, whoever considers that these states are daily increasing in
power; that their armies have become veteran; that their governments, founded in
freedom, are established; that their fertile country and their affectionate
ally furnish them with ample supplies; that the Spanish monarch, well prepared
for war, with fleets and armies ready for combat, and a treasury overflowing
with wealth, has entered the lists against Britain; that the other European
nations, often insulted by her pride, and alarmed by the strides of her
ambition, have left her to her fate; that Ireland, wearied with her oppressions,
is panting for liberty, and even Scotland displeased and uneasy at her edicts:
whoever considers these things, instead of doubting the issue of the war, will
rejoice in the glorious, the sure and certain prospect of success.
This point being established, the
next question is, whether the natural wealth, value
and resources of the country, will be
equal to the payment of the debt? Let us suppose for the sake of argument, that
at the conclusion of the war, the emissions should amount to 200,000,000; that
exclusive of supplies from taxes, which will not be inconsiderable, the loans
should amount to 100,000,000, then the whole national debt of the United States
would be 300,000,000. There are at present 3,000,000 of inhabitants in the 13
states: 300,000,000 of dollars, divided among 3,000,000 of people, would give to
each person 100 dollars; and is there an individual in America unable, in the
course of 18 or 20 years, to pay it again? Suppose the whole debt assessed, as
it ought to be, on the inhabitants in proportion to their respective estates,
what would then be the share of the poorer people? Perhaps not 10 dollars.
Besides, as this debt will not be payable immediately, but probably 20 years
allotted for it, the number of inhabitants by that time in America will be far
more than double their present amount. It is well known that the inhabitants of
this country increased almost in the ratio of compound interest. By natural
population they doubled every 20 years, and how great may be the host of
emigrants from other countries cannot be ascertained. We have the highest reason
to believe the number will be immense. Suppose that only 10,000 should arrive
the first year after the war, what will those 10,000 with their families count
in 20 years time?--probably double the number. This observation applies with
proportionable force to the emigrants of every successive year. Thus you see
great part of your debt will be payable not merely by the present number of
inhabitants, but by that number swelled and increased by the natural population
of the present inhabitants, by multitudes of emigrants daily arriving from other
countries, and by the natural population of those successive emigrants, so that
every person's share of the debt will be constantly diminishing by others coming
in to pay a proportion of it.
These are advantages which none
but young countries enjoy. The number of inhabitants in every country in Europe
remains nearly the same from one century to another. No country will produce
more people than it can subsist, and every country, if free and cultivated, will
produce as many as it can maintain. Hence we may form some idea of the future
population of these states. Extensive wildernesses, now scarcely known or
explored, remain yet to be cultivated, and vast lakes and rivers, whose waters
have for ages rolled in silence and obscurity to the ocean, are yet to hear the
din of industry, become subservient to commerce, and boast delightful villas,
gilded spires, and spacious cities rising on their banks.
Thus much for the number of
persons to pay the debt. The next point is their ability. They who enquire how
many millions of acres are contained only in the settled part of North America,
and how much each acre is worth, will acquire very enlarged, and yet very
inadequate ideas of the value of this country. But those who will carry their
enquiries further, and learn that we heretofore paid an annual tax to Britain of
3,000,000 sterling in the way of trade, and still grew rich; that our commerce
was then confined to her; that we were obliged to carry our commodities to her
market, and consequently to sell them at her price; that we were compelled to
purchase foreign commodities at her stores, and on her terms, and were forbid to
establish any manufactories incompatible with her views of gain; that in future
the whole world will be open to us, and we shall be at liberty to purchase from
those who will sell on the best terms, and to sell to those who will give the
best prices; that as the country increases in number of inhabitants and
cultivation, the productions of the earth will be proportionably increased, and
the riches of the whole proportionably greater. Whoever examines the force of
these and similar observations, must smile at the ignorance of those who doubt
the ability of the United States to redeem their bills.
Let it also be remembered that
paper money is the only kind of money which cannot "make unto itself wings and
fly away." It remains with us, it will not forsake us, it is always ready and at
hand for the purpose of commerce or taxes, and every industrious man can find
it. On the contrary, should Great Britain, like Nineveh (and for the same
reason) yet find mercy and escape the storm ready to burst upon her, she will
find her national debt in a very different situation; her territory diminished,
her people wasted, her commerce ruined, her monopolies gone, she must provide
for the discharge of her immense debt by taxes to be paid in specie, in gold or
silver perhaps now buried in the mines of Mexico or Peru, or still concealed in
the brooks and rivulets of Africa or Indostan.
Having shewn that there is no reason
to doubt the ability of the United States to pay their debt, let us next enquire
whether as much can be said for their inclination.
Under this head three things are to
be attended to:
1st. Whether and in what manner the faith of the United States has been pledged
for the redemption of their bills:
2d. Whether they have put
themselves in a political capacity to redeem them; and,
3d. Whether, admitting the two
former propositions, there is any reason to apprehend
a wanton violation of the public faith.
1st. It must be evident to every
man who reads the journals of Congress, or looks at the face of one of their
bills, that Congress have pledged the faith of their constituents for the
redemption of them. And it must be equally evident, not only that they had
authority to do so, but that their constituents have actually ratified their
acts by receiving their bills, passing laws establishing their currency, and
punishing those who counterfeit them. So that it may with truth be said that
the people have pledged their faith for the redemption of them, not only
collectively by their representatives, but individually.
2d. Whether the United States have
put themselves in a political capacity to redeem
their bills, is a question which
calls for more full discussion. Our enemies, as well foreign as domestic, have
labored to raise doubts on this head. They argue that the confederation of the
states remains yet to be perfected; that the union may be dissolved, Congress be
abolished, and each state, resuming its delegated powers, proceed in future to
hold and exercise all the rights of sovereignty appertaining to an independent
state. In such an event, say they, the continental bills of credit, created and
supported by the union, would die with it. This position being assumed, they
next proceed to assert this event to be probable, and in proof of it, urge our
divisions, our parties, our separate interests, distinct manners, former
prejudices, and many other arguments equally plausible and equally fallacious.
Examine this matter.
For every purpose essential to the
defence of these states in the progress of the present war, and necessary to
the attainment of the objects of it, these states now are as fully, legally, and
absolutely confederated as it is possible for them to be. Read the credentials
of the different delegates who composed the Congress in 1774, 1775, and part of
1776. You will find that they establish an union for the express purpose of
opposing the oppressions of Britain, and obtaining redress of grievances. On
the 4th of July,1776, your representatives in Congress, perceiving that nothing
less than unconditional submission would satisfy our enemies, did, in the name
of the people of the thirteen United Colonies, declare them to be free and
independent states, and "for the SUPPORT of that declaration, with a firm
reliance on the protection of Divine Providence, did mutually pledge to each
other their LIVES, their FORTUNES, and their SACRED HONOR." Was ever
confederation more formal, more solemn, or explicit? It has been expressly
assented to and ratified by every state in the union. Accordingly, for the
direct SUPPORT of this declaration, that is, for the support of the independence
of these states, armies have been raised, and bills of credit emitted and loans
made to pay and supply them. The redemption, therefore, of these bills, the
payment of these debts, and the settlement of the accounts of the several
states for expenditures or services for the common benefit, and in this common
cause, are among the objects of this confederation; and consequently, while all
or any of its objects remain unattained, it cannot, so far as it may respect
such objects, be dissolved, consistent with the laws of God or man.
But we are persuaded, and our
enemies will find that our union is not to end here. They are mistaken when they
suppose us kept together only by a sense of present danger. It is a fact which
they only will dispute, that the people of these states were never so cordially
united as at this day. By having been obliged to mix with each other, former
prejudices have worn off, and their several manners become blended. A sense of
common permanent interest, mutual affection (having been brethren in
affliction,) the ties of consanguinity daily extending, constant reciprocity of
good offices, similarity in language, in governments, and therefore in manners,
the importance, weight and splendor of the union, all conspire in forming a
strong chain of connexion, which must forever bind us together. The United
Provinces of the Netherlands and the United Cantons of Switzerland became free
and independent under circumstances very like ours: their independence has been
long established, and yet their confederacies continue in full vigor. What
reason can be assigned why our union should be less lasting? or why should the
people of these states be supposed less wise than the inhabitants of those? You
are not uninformed that a plan for a perpetual confederation has been prepared
and that twelve of the thirteen states have already acceded to it. But enough
has been said to shew that for every purpose of the present war, and all things
incident to it, there does at present exist a perfect solemn confederation, and
therefore that the states now are and always will be in political capacity to
redeem their bills, pay their debts and settle their accounts.
3d. Whether, admitting the ability
and political capacity of the United States to redeem their bills, there is any
reason to apprehend a wanton violation of the public faith?
It is with great regret and
reluctance that we can prevail upon ourselves to take the least notice of a
question which involves in if, a doubt so injurious to the honor and dignity of
America.
The enemy, aware that the strength of America lay in the union of her
citizens, and the wisdom and integrity of those to whom they committed the
direction of their affairs, have taken unwearied pains to disunite and alarm the
people, to depreciate the abilities and virtue of their rulers, and to impair
the confidence reposed in them by their constituents. To this end, repeated
attempts have been made to draw an absurd and fanciful line of distinction
between the Congress and the people, and to create an opinion and a belief that
their interests and views were different and opposed. Hence the ridiculous
tales, the invidious insinuations, and the whimsical suspicions that have been
forged and propagated by disguised emissaries and traitors in the garb of
patriots. Hence has proceeded the notable discovery that as the Congress made
the money they also can destroy it; and that it will exist no longer than they
find it convenient to permit it. It is not surprising that in a free country,
where the tongues and pens of such people are and must be licensed, such
political heresies should be inculcated and diffused, but it is really
astonishing that the mind of a single virtuous citizen in America should be
influenced by them. It certainly cannot be necessary to remind you that your
representatives here are chosen from among yourselves; that you
are or ought to be acquainted with their several characters; that they are sent
ere to speak your sentiments, and that it is constantly in your power to remove
such as do not. You surely are convinced that it is no more in their power to
annihilate your money than your independence, and that any act of theirs for
either of those purposes would be null and void.
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