Formation of the Union, 1750-1829 by Albert Bushnell Hart
page 137 of 305 (44%)
page 137 of 305 (44%)
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The finances of the States were little better than those of the Union. The
States controlled all the resources of the country; they could and did raise taxes, but they appropriated the proceeds to their own pressing necessities; and the meagre sums paid to Congress represented a genuine sacrifice on the part of many States, particularly Pennsylvania and Massachusetts. Unfortunately the States exercised unlimited powers over their own currency and commercial relations. Times were hard, debts had accumulated, property had been destroyed by the war. State after State passed stay laws delaying the collection of debts; or "tender laws" were enacted, by which property at an appraised value was made a legal tender, Cattle, merchandise, and unimproved real estate were the usual currency thus forced upon creditors. After peace was declared, a second era of State paper-money issues came on, and but four of the thirteen States escaped the craze. [Sidenote: Weakness of the States.] [Sidenote: Proposed new states.] [Sidenote: Insurrections.] These remedies bore hard on the creditors in other States, created a feeling of insecurity among business men, and gave no permanent relief. The discontented, therefore, sought a remedy for themselves. The Revolutionary War had left behind it an eddy of lawlessness and disregard of human life. The support of the government was a heavy load upon the people. The States were physically weak, and the State legislatures habitually timid. In several States there were organized attempts to set off outlying portions as independent governments. Vermont had set the example by withdrawing from New York in 1777, and throughout the Confederation remained without representation either in the New York legislature or in Congress. In 1782 the western counties of Pennsylvania |
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