?) OKA.C S^cVc^e.^ I THE PLOUGH AND THE SICKLE: i»l OR RHODE-ISLAND IN THE WAR OF THE REVOLUTION OF 1776. I f8Ue PROVIDENCE: PRINTED BY B.T. ALBRO, FOR THE AUTHOR. 1 846. THE STATE DEBT OF RHODE-ISLAND, IVO. 1. Repudiation Is the I'efusal ofa State ^ so soon as they can be brought to a fair to pay its debts. Nothing has so deeply ? underatanding of the claims against the dishonored the American people, in the S State, they will, at once, provide for the opinion of foreign nations, as the fepud- /payment of them. I have long known iation of some of the States of this Un- (the good people of this State; and can- ion. From this cause, citizens of our ; not doubt their integrity, whatever I may Country have, in other nations, been re- < think of their public advisers. Among fused the coramon courtesies of society. ) others whom they owe, they are indebt- It is, then, a little surprising, that some ? ed to me in somewhat more than four men are laboring to bring Rhode-Island ) thousand dollars; and I cannot doubt that Into the number of repudiating States. — / they will pay me and others, so soon as Nor is this surprize lessened, when it is ^ they are convinced of the justice of our considered that the debt of this State is / claims. a debt, contracted in the revolutionary war ; a small incident with which our fathers, from necessity, were compelled to incumber that rich inheritance of wealth, freedom and independence, be- sembly and the Commissioner, was cred- ? ited to each individual, and charged to S the U. States. For each amount so as- / certained, the General Treasurer of the ( State gave a certificate to each individu al creditor. These certificates constituted, and made, the State debt. The amount ofl this debt with the names of each individ ual, to whom certifica,tes were issuecl, may be seen on the records in the oflicp of the Gen. Treasurer ; unless time, ac cident, or some other cause, has (de stroyed them. How this debt Jhas bee;i managed by the Ofen. Assemblies frpin that time up to 1820. How the form of its securities has been changed, and large payments, from time to time made, has been ably investigated by Dr. Richmond, A ^review and abstract of his statements and history, and an examination of the doings of Congress for the relief of the several States, may be the suhjects of other numbers. Before these, ihowever, it will be proper, as a kind of Episbde.^to ' state, and examine certain claims againjil the U. States ; which, it it is believf have in the minds pf some good m?p, been regarded as the State Debt nowl claimed by her creditors. The next^ Number will be devoted to thi? subject' by The Plough and the Sickle. J¥o. 3. The last No. was closed with a prom-(, ise to give a history of certain claims \ against the U. States. These claims ( have ever been called, and known, by the * name of " Crary's Balances." 'They ( were, for many years, used, by the par- < ties in Rhode-Island, as a kind of politi-. cal scare-crow ; each party, denouncing the other, at every attempt to get into power, with the intention of paying "Cra- ry's Balances." This was done, hereto fore, until many whose minds and mem ory are rather foggy, now seem io see the State Debt, and these Batances'as 9 one and the same object. I will give the history of these balances, that all, who read it, may know that they have no re lation whatever to that debt. In the winter of 1778,-— 9, the ene my pressed hard on the territory of Rhode Island. Their frequent inroads from the Island upon the main, left almost every thing at their mercy. To raeet, and re pel these invasions, and to protect the people, and their property ; the General Assembly Resolved, that a Brigade of 1500 men, m their Regiments, should be raised. They gave it in charge to their Delegates, to lay this.resolve before Con gress. Thi? was accordingly done, and Congress, on the 17th day of April, 1779, Vol. 3, Page 253 of their Journal, Re solved that these Regiments should be raised for the common defence of Rhode Island and Providence Plai;tations, and ofthe U. States ; and that their bounty, pay, clothing and subsistence should be furnished at Continental charge. They were accordingly raised; at first, for one, but were continued by re-enlistment three years. Archibald Crary comraanded one of these Regiraents. The men were enlisted frora Rhode Island, Massachu setts, and Connecticut. Many of thera were foreigners, who had taken shelter in these States. These troops were sta tioned, a part of thera at Howland's Fer-_ ry ; and part on the West side ofthe Bay, and at such other points where the ene my were most likely to make descents on the coast. They did great service, by repelling the depredations of that ene my, and saving the lives and property of the people. These men faithfully served out their time, and were honorably dis charged. They had been paid ; but a great part of their pay was in Continen tal money. To ascertain the specie value of this money, it is necessary to look into the Journals of Congress. A scale of depre ciation was made in geometrical progres sion, frora period to period, as mentioned in that scale, June 28, 17S0, Vol. 3, Page 573. On the 1st of March, 1778, One Dollar and three quarters of Conti nental money, was equal to one Spanish Milled Dollar; on the Ist of Sept. 1778, it was four for one ; on the 1st of March J779, it w:i:s ten for one ; on the l.st of Sep, 1779, it was eighteen for one; and on the 1st of March 1780, it was forty for ono. It is easily seen that wages at a stated monthly rate, if paid in this de preciated and constantly falling money, would be but partially paid. Congress Resolved, April 10th, 1780, Vol. 3, Page 417, to make up the depreciation to all the troops on the Continental estab lishment. , It has been shewn that Congress were to pay these Regiments as other Conti nental Troops were paid. All payments made, or received, by Congress, in the Continental money, after it had depreci ated, were to be settled according to the scale of depreciation. It is true. Con gress in the Resolve of April 10th, 1780, limited the benefit of it to those who should serve, or be engaged, for three years, or during the war. The equity of this resolve, if not the letter, embraced the Rhode-Island Brigade. Nevertheless when the Commissioner came to Rhode Island, he refused to allow the amount of this depreciation. Before that time the oificers and men of these Regiraents, had caused exact accounts to be made out of all the amount of their wages ; had given credit for all payments made to thera, and charged back the deprecia tion ofthe money [Continental,] in which these payments had been made ; and thereby bringing out the exact balance due to each officer, and each man. — These balances they called on the Gen. Assembly to pay. They were told, in reply, that Congress engaged to pay thera, and had paid all which they had received ; and would undoubtedly make up their depreciation, as it was known that they had done to the Continental array. The Commissioners alledged, that the Resolve of Congress extended to troops ofthe Continental line .only ; and that, therefore, he could not allow these balances. If the State should as sume thera, she might fairly charge the U. States the whole amount ; for it would be nothing more than the fair, and hon est payment for faithful services, ren dered in defence of the U. States, or some part ofthera, against the coraraon eneray. The services had been honestly rendered, the men had been paid in de preciated money. A balance was due 10 to each of them ; and if the Gen. As serably would assume these balances, and charge them to the U. States, he would allow the account, and give the State credit for the whole amount; and they knew that his decision and allow ance, would be final and conclusive, and not liable to be re-exarained by any oth er Commissioner. The officers of these Regiments, and their friends, urged the Gen. Asserably to assume these balances — and oflTered to thera the most binding obligations that neither they nor any of the men, would, or should ever call on the State for one cent of all which they might assurae. They moreover told the Assembly, and it was literally true, that many of these were foreigners, who had dispersed themselves over the U. States ; and would never return to call for imy thing ; and that many others were dead without heirs ; and that, in all probability, one half of these balances would finally fall into the Treasury of the State. It has always been said that the Cora.raissioner was very anxious to get these balances through, being strong ly impressed by their justice; but that he felt himself bound by the Resolve of Congress of April 10th, 1780. He urged the Assembly to make the assump tion; the oflScers also urged them, and they were hard pressed on both sides ; and also allured by the hope of pecuniary benefit, not only to those citizens who had defended them from the enemy, but to the State itself, then in debt to a great amount. Nevertheless the General Assembly did not assume these balances, being determined not to do, by indiscretion, what could not be done, by a straight for ward course. These balances remain ¦' unto this day" unpaid. Rhode-Island stood erect, between Congress and these troops , and refused to enrich herself, or any of her citizens, by a measure, which might, in any event, be regarded as of; doubtful integrity. Congress had prom ised to pay these troops ; and they were enlisted under that proraise. Congress had paid, all which had been paid ; and they were sacredly bound to pay these balances, for the amount was never quest ioned, and that apiount was justly due^ fcr faithful services, rendered ^g^ainstthe common enemy, and by the Sth Article of the Confederation, ought to havebeen paid, out ofthe common Treasury. Let the writers of " Hints," and all their disciples, the advisers of the people of Rhode-Island, look back to the char acter of that Gen. Assembly, refusing to enrich the State, and its citizens, at the expense ofthe U. States ; and then ask honest men to believe that the same Leg islature was employed from the close of the war, in Nov. 1783, to the close of their settlement with their creditors, Sep. 24, 1788, in allowing their own claims, and those of a majority ofthe people, for not only services and supplies, but for daraages received ; and putting these claims so allowed, without investigation into the form of notes against the State; because that was theybrm most likely to impose on Congress, and obtain their as sumption by the U. States. Tho' this when published, was the darkest of all calumnies ; yet those who now repeat the slander, do add deeper shades to its attrocity, by attempting to deprive fair creditors cf their due, and induce the State to dishonor herself, by repudiating her honest debts. All the friends of Rhode-Island, will, I trust, join with me in the patriotic prayer, that those, who have calumniated the, General Assembly of 1783, may not be able to dishonor that of 1846. These Balances, so rejected, were from Col. Archibald Crary, coramander of one ofthe Regiments, called " Crary's Balances ;" and never, after their rejec tion, was one effort made to induce any Gen. Assembly to pay, or assume the payment of them. The State debt was all duly registered, in the oifice ofthe General Treasurer ; but these balances never found admittance to that office. — Let those who doubt, go and read, and be satisfied. One effort, however, was made ; not before the Gen. Assembly, but before Congress, to obtain payraent of these balances. When Tristam Burgess was a Representative in Congress from Rhode Island, he moved a Resolution to enquire into this whole subject. He stated and explained the nature, and necessity ofthe service : the obligation of the U. States to pay these men : the partial manner of 11 their payment, and the amount still due to them. He contended that these claims should be regarded, as so much subscribed and paid to the U. States loan, under the funding system ; and the same interest allowed on them which was allowed to other subscribers. He put into this ef fort all his zeal ; and ifhe had any ability, or any influence, all was brought to bear on this subject. He succeeded ; and ob tained the appointment of a comraittee. The Hon. John S. Barber of Virginia, was Chairman of this Committee; and they reported that these claims ought to be paid ; and presented a Bill for that purpose, with their Report, appropriating $90,000 out of any money in the Treas ury not otherwise appropriated, for these payments. I have seen this Report and Bill ; and it is strongly in my recollection that provision was made for placing the money, to the amount of these claims with interest as if they had been funded, in the hands of the Gen. Treasurer of Rhode-Island, with directions to him to notify all claimants, and pay it out to them. I was assured, that it was the purpose of the Chairman, so to place the money, that R; Island, as a matter of justice to her, might have the benefit of all due to non-claimants. This Report and Bill were not reached on the Calendar, before the session ter minated. What their fate wduld have been, cannot be known ; but the mover of this measure, certainly had the most sanguine hopes of carrying it triumph antly through Congress ; and not only bringing to those men, or their heirs, this long delayed remuneration, but also placing, in the Treasury of the State, all that part of the money, for which no call should ever be made. This Representative did not attend Cpngress after that Session. By some of those events, over which human wisdom has so rauch control, he was not re-elect ed. His competitor carried, either too many guns, or too many spindles for him. The Hon. Wm. Sprague was chosen to fill the place occupied by him, during ten years ; and concerning what that gentleman performed, to obtain payment for Crary's Balances, the Journals of Congress are altogether silent, and so of consequence must be. The Plough and the Sickle. At the Commencement ofthe Revolu tionary war, the Colony of Rhode-Island was without funds. Perhaps it might not be too much to say, she had not, at that time, a single dollar in her Treasury. It is believed, that none of the other Col onies, were in any better pecuniary con dition. Although this little Colony had no money, and no public property from which to draw any ; yet she had her own untarnished character for good faith ; she had also, a population, hardy, valiant and patriotic ; able Merchants, skillful Mariners, brave Soldiers, ingenious Me- ¦chanics, and industrious Farmers. On these she valued, and relied ; and they did not disappoint her, in the day of her necessities. To what amount, Rhode- Island called on her citizens, and to what amount, they responded to her call, and she became indebted to them, may be as certained by any one, who will be at the trouble of examining the records in the office of the General Treasurer. At a ^ proper time, this amount will be stated. J, Before doing this, it is deeraed to be of / sorae iraportance, to remove out ofthe ( way, what has been placed there as true ) history, tiiough unknown in the Revolu- ) tionary War ; but first published by the ) writer of the " Hints," and since repea- ) ted, by some ofhis disciples, the advisers ( of the Gen. Assembly. The " Hints" say " that all the expenses of that war ioere, hy a law enactedby the Confedera ted Congress, to be paid by the U. States." This piece of history is no where to be found, except in that little palnphlet. It has been proved by the 8th Article of { the Confederation, that these expenses, ) thaf is for services rendered and supplies (furnished, and allowed by the U. States / in Congress assembled, should be paid ¦ out of a common Treasury, which should 12 be supplied by the several States. Nev ertheless the disciples of that writer, have, in their advice to the Gen. Assemb ly, improved on the doctrine of the "Hints:" and say theU. States, not Rhode Island, levied and carried on the war ; and therefore, that this State could not contract any debt for any such purpose ; and of consequence there can be no State Debt. This would be sound logic, if there were any truth in either major or minor proposition, or in the conclu sion. If every war measure had been raoved, and carried out, by the U. States; yet as all expenses were to be paid out of a coraraon treasury, supplied with funds, by the several States, raust not Rhode-Island, to the amount of her quo ta, have to furnish the sinews of war, men, arras, clothing, subsistence, and money to pay the armies of the U States? The Sciolists of these days, seem not to know that, under the Confederation, there were no Custom Houses, no Excise Offices, no Public Lands for sale. Con gress could not furnish the common Treasury, but by requisitions on the sev eral States ; and each State, in her own way, supplied her own quota. Could Rhode-Island effect that, or did she effect it by dry taxation only, and without con tracting any State Debt? Congress, it is true, levied and carried on the Continental war ; but as I believe a»d well know, every State levied, and carried on a war for its own defence. — Rhode-Island struck the first blow, drew the first blood, burnt the first enemies ship. In Massachusetts, the war was made by the British against that State. Rhode-Island in April 1775, ordered 1500 men to be raised. Massachusetts, by her Provincial Congress about that time, ordered 18,600 men to be raised, and called on New Hampshire, Rhode- Island, and Connecticut for aid. These States responded to this call ; and raised and sent their bravest and their best. Putnam marched to Cambridge; and Green led thither the Kentish Guards; all New England was up in arras ; and the enemy were .-urrounded,and besieged in Boston. All these things were done, before the Continental Congress raised a single soldier. June Mth, 1775, that Congress ordered six Companies of Riflemen to be raised in Pennsylvania, two in Maryland, and two in Virginia, tobe marched and united to the army at Boston. These were the first troops raised by the U. States. The army, at Boston, was raised by individual States. June ISth; 1775, Congress elected Geo. Washington Commander in Chief Be fore that time, the war was a war of two States principally ; Massachusetts and Rhode-Island. The Old Bjy State had borrowed $333,333 33i, or i^l 00,000 lawful money at 6 per cent ; and Rhode Island had done more in proportion to her territory. She was always " First in the fight." Gen. Nathaniel Greene marched on foot to Cambridge, at the head of the Kentish Guards ; but before six weeks, he was appointed a Brigadier General. Nevertheless the disciples of the "Hints" advise the Gen. Asseinbly, that Rhode-Island levied no war, con tracted no war debt ; and so cannot now owe any such debt, or any part of it ; Credeat Judeus Appela. This is but a small part of that war, which Rhode-Island was corapelled to carry on, as an individual State. Her shores and Bay left her, exposed to the inroads ofthe eneray ; and, during three , years, a large British force was stationed at Newport. They landed on the Island, Nov. 1776, with about 6000 effective troops. Newport becarae a garrisoned town ; and the enemy built fortifications at Howland'_s Ferry and Bristol Ferry, to guard against the Americans." They commanded the whole Island, by land and by water. Their ships were so sta tioned, that when Barton, in the dead of night, July 1777, passed, and after the capture of General Prescot, returned through their lines, his boats moved with muffled oars, at short musket shot from one of them. This was truly an achievement oithe Rhode-Island men of those times; and gloriously illustrates the ; character ofthe service, required by her '' from her citizens, in this war carried on I by this State during three years against ; the common enemy. i What protection had the main land of f Rhode-Island against the inroads of this ">. enemy, from Secunnet Rocks to Bristol Ferry, and on both sides of Narragansett Bay, from Point Judith to Providence? 13 Her own arms^ her own warfare. From I the descent of that enemy on the Island, until Sullivan's expedition in the Autumn i of 1778, this devoted little State conten- : ded in arras, against 6000 veterans, on ; land, and I know not how m-.ny ships ; and vessels of v.T.r in those v/aters. April 16, 1777,- Congress recommended to Rhode-Island to exert herself to the ut- ' most, to drive the enemy from Newport ; ^ apd advised the other New Englandj Island in the face of the eneray. Instates to aid her by their militia. Gen. j men, no arms, stores, or baggage in 1781 by tho capture of Cornwallis and his army at Yorktown. Nay, if Sir Henry Clinton had uot sent a large re inforcement from New York to New port, Sullivan, with his 2000 Continen- trds and his New England militia, would have captured Paget and his army. Nor could veterans behave betrer than these men did, vi'lien Sullivan was compelled, by this superior force, to retreat oflf the No was i Spencer was sent there to coramand. i lost. I'The militia of Rhode-Island performed After this, what disciple, of the "Hints" ¦ almost all that was done. The v.'hole what advisers of the Gen. Assembly, will i people, fftim 15 to 40 years of age, were dare to say that Rhode-Island levied no i formed into companies. Regiments and ; war, contracted no debt ; and, therefore, f brigades, were officered, and as far as | can, at this time, owe none? No part possible, disciplined for theservice. One j ofthe U. States, geographically speaking, 1, fourth part of this militia, was forraed in- j carried a v/ar to such an extent, at such I to companies called " Minute men." — i a cost, or so effectively as Rhode-Island. I'Once in four months, any part of these j Her quota ofthe Continental army of 88 companies, might change their pisces | battalions, was two, of 500 men each. — From Nov. 1776, to Nov. 16, 1779, when the eneray evacuated Newport, she musl have had in the field, on an average, not less than 20 companies of her militia. These were provisioned and paid by the State ; and though the wages ofa private, were but 40 shillings a month, yet the great numbers engaged, rendered the v.hole amount large for a small State. To this must be added, arms to all not able to furnish themselves. with others ofthe railitia ; so that, in 16 months, every man would have been a Minute man. _ Their narae denotes their service. They were required to spend much time, in acquiring the discipline of soldiers; andin this, and in active service against the enemy, they were al most continually engaged. Large num bers were embodied, and with the militia from Massachusetts, New Hampshire and Connecticut, were encamped under the command of General Spencer. This j and also tents.barracks, and carap equip- continued till Sullivan's expedition, when < ments. the railitia from the four States araount- j ed to about 6000 men, besides volunteers. \ The Continental Troops which joined them for that service, were about 2000. So much service, had these mititiaseen, This amount, could not be raised by Rhode-Island, without contracting a heavy debt to those citizens, who ad vanced their funds to her, for carrying on this war. For it must not be forgot- and so well were they disciplined, that / ten, that besides this the State was ob- with these Continentals, they encoun- i Hged to furnish her quota to the Conti- tered the whole British force 6000 strong ; commanded by Gen. Paget at Quaker Hill, August 1778 ; and drove them back from that advantageous ground. — ; The British were veteran troops, the ', Araericans, three fourths ofthem. New | England Militia. Had not Count D'Es- < tang, comraander ofthe French fleet, left I Newport harbor with the French troops, but landed them to co-operate with Sui- ; livan, the whole British army would have ; been captured and the war terminated '< in 1778, which was afterwnrds finished ¦ nental service ; and this was all, and much more than all, which could be raised by the heaviest taxation. Let it not be said, that the three regiments before mentioned, relieved the Rhode-Island militia frora this service. They did bring relief, but not till nearly the whole ex penditure had been made. These regi raents were not proposed to be raised, till April 1779 ; and the enemy left the State in the Nnv. ofthe ;;.inie year. I'liis debt contracted by Rhode-Island to her citi zens, was, by her, settled w'.ilt t'lem ; ¦" ' These cut off British ) coming to America, and sent thera in as ( prizes, to Boston, Plymouth and Bedford, (J Bedford was, for mere revenge, burnt by 14 and the several items carried to the ac- ^This State, therefore, did in fact, besides count of Rhode-Island against the U. / her Continental quota, iarry on at her States, and charged to thera. These S own charge, that part of the Revolution- charges were all examined, before being } ary war during that time. allowed, by the Commiasioners appointed ( Nor was this all — Providence, at the to settle all accounts between theU. States \ head ofthe Bay, pushed out a swarm of and the several States. Whenever any !> Privateers under Commission from Gov, error was found, it was duly corrected ; \ Cooke. These cut off British ships and then the Gen. Treasurer issued cer tificates for the amount, due frora the State, to each of her individual creditors. It has been asserted by me, that the war levied and carried on, by Rhode-Is land, against the common enemy, was, in proportion to her territory and popu lation, the raost eflfective of any part of^ him into Bedford. « that toilsome, and perilous controversy ( Nevertheless a Sciolist has risen up, of arms-. In Nov. 1776; six thousand 1^ and called out " When did Rhode-Island veteran British troops, took possession of ( levy War ?" Shall I tell thee, thou youth- the Island of Rhode-Island, and with the ^ ful Cleon ? It was when thou wast in transports and ships of war, necessary to S thy cradle ; and thy father, and thy eldest sustain them in that location, were held c brother, were among the Patriots of the in check, and rendered totally unavaila- ^ Revolution ; never even dreaming, that ble, in any other part of his Majesty's ser- j one of their house, would, in after times, vice, during three years ; and this was < attempt to dishonor Rhode-Island, by ad- done, principally, and for some part of/ vising her to repudiate any part of the ,the time entirely, by Rhode-Island. This ( debt contracted by her in that glorious 6000 men were more than one fourth J part of all the eflfective British force, in ' the British. Col. Talbot fitted out a pri vateer frora Providence, to cruise after and capture an English Corsair, thenin- festing the coast. He took, and carried War. all her land arraies in all the U. States. The Plough and the Sickle. Fide the character of Cleon, in the history ofthe Pelopenesian War, by Thusisedes. Ne. 5. Let those who do not yet believe that RM^e-Island contracted any debt dur- iiMK^e Revolutionary War, read the folHHnig transcript from the records of ( the^l^asury office ofthe U. States. "' On the adjustment ofthe accounts of the several States, for expenses ofthe Revolutionary War, the amount of the expendit ures by the State of Rhode Island was ascertained to havebeen, $3,782,974,46; And the advances to that State by thp U. States, in cluding $200,000 of the State Debt assumed (by the U. States,) 81,977,608,46 Expenditures over advance, $1,805,366 The propoition of the ex penses of the War,charge- able to Rhode-Island, ac cording to the ratio of pop ulation.For this balance, stocks were issued, viz : Six per cent, .... Deferred 6 per cent, . . And for interest thereon, 3 per cent, ..... $1,505,755 $199,740,67 99,870.33 59,922,26 $359,533,26." Did Rhode-Island contract no debt during the war ? It has been shown that she carried on the war for her own ter ritory three years. Tt is now seen that 15 she expended $1,805,366 more than she) interest amounts to $101,513,50, and received of the U. States. How was this ? principal and interest, raake up the State ' ¦ Debt of Rhode-Island, March, 1787, to be $609,075,12. It is evident from the tenor of this Re port, that a part of these (Jebts carried an interest of 6 per cent; and if so, this would augment the sura total due from the State to individual creditors at that tirae. It does not appear, frora the Jour nals ofthe Gen. Assembly of March, 1787 or of any Assembly since that time, that nioney obt^ned ? Alraost entirely by ( loans. -I raight have not written so much } about the war of Rhode-Island, and mere- ( ly shown this record of her expenditures; P but I desired to prove to all honest men, ^ the ignorance and perversity of those who cry out Rhode-Island levied no war, contracted no debt. It is believed that very few men, even in these days, can be found of a hardi- ': 'hood, sufficiently regardless of truth and ; this Report was either rejected, or the justice, to deny the existence or question ( correctness of it, in any way or manner the correctness of a report, made to the ) questioned. Is it then possible, for any Gen. Assembly, by a committee raised by ( reasonable man, who has any value for themselves, and clothed with all their ^ historical truth, and for his own reputa- 'Legislative authority. I shall take it / tion for that high moral quality, to say for granted, that the Gen. Assembly of <| that Rhode-Island in the Revolution, 1846, will give full faith and credit, to <> " Levied no war either as an individual such a report, made by such a committee, to the Gen. Assembly of 1787. Who ever will read the schedules of the Oct. Session, 1786, at the 4th page, will see that a committee was raised, to enquire into the origin of the whole State Debt. Read the schedules of the March session, 1787, at page 15, and you will have read the report of that committee. These dil- , or a confederated State, and therefore, did not and could not, contract any State debt?" If the men of these times will not believe the records, raade by the ' men of those ; neither would they believe I those Mien, should they arise from the ' dead ; and pointing with the finger to each item of this expenditure, say this and this and all those, were expended to save our igent men put down the several items of (J State and the U. States, ourselves and that Debt. I will not quote more than the two bottom lines. "The first amounts to ,£106,976-ll-3-l,equalto $353,921 87. The other is for 4 per cent notes issued Feb. 1777. Three months only, after the enemy landed at Newport. It amounts to $46,092,4-6, equal to $138,- 276,75. It is said, by the comraittee, ! that these notes were liable to be scaled down to a specie value. It should be remembered that the scale of depreciation established by Congress, begins March 1st, 1778; when $1,75 Continental mon ey, was equal to 1 Spanish Milled dollar. One year and one mbnth, before that time, this money could not have very per ceptibly depreciated. I shall let these 4 per cent notes stand, as the committe have left thera. The whole debt without adding a cent for interest amounts to $507,562,62. The 4 per cent of Feb., 1777, had been on interest ten years. — How long, and at what rate, the other items had run, the committee do not state ; but if the whole be placed at 4 per <-.ent, and the timo at fivf- vear'3, thewhole you, our posterity, from the iron fetters of a foreign despotism. We paid all but a very inconsiderable part, left for you to pay ; that you might not forget us, who bequeathed to you such a heritage of free dom, wealth and independence. Will the men of these times in Rhode- Island, repudiate this small part of this immense debt, left by the Patriotic men of those times, as a sraall charge on the rich legacy bequeathed, by them to their children ? If it be enquired how Rhode-Island ob tained funds so to reduce this debt of Six Hundred and Nine Thousand, Sev enty-five Dollars and Twelve Cents ; so that, by the report ofthe Gen. Treasurer made according to the records of the Gen. Assembly, page 12 ofthe June ses sion 1799, there remained due but $125,- 139,13 of principal ; the answer mustbe found in the financial records of this State, and of the U. States. It will be remembered, that every item of this debt, due from Rhode-Island to her individual creditcTi!, in March 17?7, ?,'''-5, bv her 16 charged to the account of the U. States; and that the U. States, in settling their accounts with the several States, allowed lo each of them, 6 per cent on every item of expenditure, raade for services or sup plies, for the defence of the U. States, or any part of them. The whole sum was then set to the credit of the State, and- she was debited with the quota which she had to furnish. In the account with Rhode-Island, it was found that she had exceeded her quot^; and a balance was found due to her. This balance was to the State a fund for the payment of so much of her debt to individual creditors. In the financial arrangements, between the U. States and the several States, another provision was made for paying the debts of those States, after the estab lishment of the present Government un der the Constitution of the U. States. — This Government was organized, and went into operation, on the 4th of March 1789, atthe city of New-York. At the second session of this CongresSj August 4th 1790, a Law was passed establishing a system, called " The funding system." By this, books were opened, on the 1st .day of Oqtober, then meant to be kept open for one year ; authorising a sub scription to the full araount of the doraes tic debt ofthe U. States. Each subscri ber to this loan, raight pay his subscrip tion, in such evidences of the indebted ness of the U. States to hira, as are there on described. Whereupon, he should .1 eeeive three certificates as evidence ofj the new debt due to him. The first, a . certificate for two-thirds of the principal ofthe certificates by him so paid for his subscription, bearing an interest of six per cent, payable quarter yearly, with two dollars yearly, on each one hundred of the principal, at the option of the U. States. The other third, in a certificate bearing six per cent interest, after Jan. 1 1800, payable, and redeemable in like manner. The third certificate was, for the inter est grown due to the subscriber, and this bore an interest of three per cent, paya- Ijle quarter yearly, and redeemable when ever provision, by law, should be made for that purpose. The same statute enacted, that- " Whereas, a provision for the debts of the respective States, by the U. vvould be greatly conducive to an orderly economical, and effectual Arrangement of the public finances." It was -enatvled that a loan be proposed,- to", the ainount of $21,500,000; and that subscriptions to the same be received at the same time and places, as the loan aforesaid; butthat the sums subscribed to suchloan, be pay able in the principal ancj interest of the certificates or notes, which were issued prior to the 1st of Jan. 1790, by the re, spective States, as evidence of debts^,iby them respectively owing. The amount to be so assumed, for each State by the U. States, was limited ; and for Rhode, j Island, it was Two Hundred Thousand! Dollars. The subscribers to this loanj received the same kind of certificates 'as those who subscribed to the loan of the domestic debt ofthe U. States ; and the whole sums so subscribed, and paid for in the certificates or notes of each State, was to be charged to that State, in ac count with the U. States. The law establishing this loan provi ded that if more than $200,000 were sub scribed, each subscriber should receive his ratable proportion of that sum. It al so provides for receiving all certificates given by the State to her creditors for services or supplies furnished during the war ; but expressly excludes all others. • By the records ofthe Treasury depaffli- ment ofthe U. States, it appears that $200,000 of the certificates issued bj Rhode-Island and the Stocks issued by the U. States for them were Six per cents, - - - $88,890,45". Deferred 6 per cents, 44,443,79 .; Three per cents, - - 66,665,76 This amount paid so mucb of thcidebt of Rhode-Island to her creditors ; bul being charged back to her, it 'lessened by just so rauch of her debt against the U. States. It will be found, that Rhode-Island, by another financial arrangement, reduced] her State Debt. It is seen, by the recr| ords of the May session of the Gen. As sembly, page 13, 1786, that ,£100,000iin bills of credit, were issued by the State, and received by individuals on loan.— Each raan gave his note or bond, with a collateral mortgage, for the amount re ceived by him; thereby promising to pay 17 four per cent interest annually thereon, for seven years ; and then to reimburse the principal in seven equal yearly instal- ' ments. This money soon depreciated. It was also very carelessly kept, so that, at the end of seven years, it was impossible to restore the whole amount in the original bills. It was, therefore, scaled down by the Gen. Assembly, and the debtors were permitted to discharge their bonds and mortgages, at $1 in specie, for $15 in this Rhode-Island paper money. This 4 per cent interest brought a considera ble revenue to the State — this was much increased, by heavy taxes 1787 — 1788, and 1789, araounting to if 100,000 lawful money. The Gen. Assembly having these funds, passed a law that the Gen. Treasurer should pay the 6 per cent notes, due from the State in the money of 1786. Some received it, some refused it ; for the money, though by law a ten der, was much depreciated. By law, those who would not receive this money forfeited their notes. This procedure was, however, correct- [ ed, at the June session 1791 ; for then, it being the second year of the adminis tration of Gov. Arthur Fenner, the Gen. Assembly passed a law that all notes on which partial payments had been raade, and all forfeited notes should be renewed, and the true specie value only of all mon ey paid be charged against the holders of these notes. After all, with every hon est deduction, it must have been found, that very considerable payments had been fairly made, before June 1791. On the 2d of January, 1795, Congress passed a law authorising the transfer of! the amount standing on the books of the Treasury, to the credit of Rhode-Island, to her creditors. The amount standing to the credit ofj Rhode-Island had been funded according to the principles of the funding system ; and then stood on the Treasury Books as so much six per cent stock, deferred stock, and three per cent stock, ready to be transferred so soon as the State of ( Rhode-Island and her creditors consent ed to this transfer as the law provided. — This law extended to all flie creditor Staten. Jt appears, by the recordt of the Jan. session 1795, Page 38, that the Gen. As sembly, for the State, consented to this transfer ; and to obtain the consent of her creditors, ordered the Gen. Treasu rer to give notice to them, that if they consented to it, these stocks would be transferred to them, to the full araount of their claims, if $220,000 should be a sum sufficient for that purpose; but if not, each creditor should receive his ra table part thereof, and a new certificate for the remaining balance, at an interest of 4 per cent per annum, from Jan. 1, 1795. Under this law, and another en acted the May following, it is believed that nearly all the certificates of all the State debt, were called in and surren dered. Each creditor received his pro portion of these U. States Stocks, and each a new certificatefor the balance still due to him at 4 per cent per annum in terest. It may surprise some men, that all the creditors of the State, did not bring iu their certificates, and receive their pro portion of these Stocks. Let me teli these men that two causes probably pre vented this. One was, that the credit of the State stood higher then, th.m it has, at some tiraes, since then. The other was, that, by these stocks not raore than 80 cents on a dollar would be paid ; and perhaps they objected to receiving the balance of a 6 per cent certificate, in one carrying 4 only. All did not conic in ; for the Gen. Assembly, at the June session, 1797, page 13 of their journal, enacted a law for calling in old, and is suing new certificates. Although these new certificates were to carry an interest of 4 per cent only; yet to make the call effectual, it was enacted that two years interest should be endorsed on all certif icates, issued, or to be issued ; and that certificates should be given therefor, pay able out of the next taxes, or any other money in the treasury. This it is be lieved finally brought in all ; and all cer tificates of the State debt, were so en dorsed, and two years interest so paid up to Jan. 1, 1797. By the Report of the Gen. Treasurer, made to the Gen. As sembly, June ses.sion I'lW, page 1:2, it appears that he had is.?uc(t certificates io- intereat. to the ammount ol' ^9,.Vi°,49. and that the whrvln prinr.ip.il -nf the Rtatr 18 Debt then amounted to $125,139,13. So that the State Debt which March 1787 was $609,075,12, had, June, 1799, been redaced to $134,686,59 including principal and interest. This araount was then the registered State Debt ; and it ^ remains to be shown how rauch of this has been paid, and in what manner any payments were made. The Plough and the Sickle. WO. 6. Every man is reraarkable for sorae pe culiar trait of character. If he be in pub lic life, he will endeavor to distinguish hiraself by that, in which he hopes to ex cel all other men. Even great men, if they cannot exceed all others in great things, will have their little peculiar ities, wherein no raan can compete with thera. George the Third, King ofGreat Britain, was certainly no great statesman; but yet no man in the Kingdora, it is said, could equal him in making buttons. Mr. Meacon of North Carolina was, for raany years, a Representative in the Con gress of the U. States. He was a good man, a Patriarch in his family, and his slaves, on his return frora Congress, wept around hira for joy, and he often wept with thera. This raan had his little pe culiar ; and it was his boast, that he nev er voted for granting any claim agjtinst the U. States. McCoy of Virginia was iron throughout. Any call on the Treas ury, no matter how just, was raet by hira with unyielding opposition. He made instant battle, against any moveraent in favor of the Revolutionary soldiers. Ar guments, in their favor, telling of their privations, their sufferings, without pay, without food, their barefooted winter raggedness, fell on this raan like water on hot iron; they raight cool, but could not soften hira. He was called the Bull Dog of the Treasury. This was his pe culiar. Elisha R. Potter of Rhode-Island, was a raan far superior to either of these. As a public speaker he was powerful ; as a statesraan, able ; and, after the decease of Gov. Arthur Fenner, no man in the State could equal him as a partizan. As ,t financier, he was subtle, but discrimi- jialing. His peculiar was to reiiat all claims against the State, that he might gain the character ofone careful of the public raoney. All which he could ex clude with any justice, were excluded; but when the voice of justice was louder than the cry of popularity, he was ever attentive to that voice ; and never, by his permission, was any financial arrange raent raade, which might render the good faith of the State questionable by her creditors, for any act of parsimony, mean ness, or injustice. There are men, in all times, who, when they cannot with success emulate the great qualities of great men, will fall into an imitation of their imperfections, and infirmities. None of the companions of Alexander the Great, could equal his heroic achievements, but all of them car ried their heads on one side, because he had a crook in the neck. Samuel Dex ter, of iBoston, was the greatest forensic orator of his time, in the U. States. He had one fault ; it was speaking quite too slowly. The young aspirants, at the bar, could not equal his lucid method, or con clusive reasoning, or beautiful diction; but they could hit off his only imperfec tion, and so they did, halting, as if to take breath, between word and word. Mr. Potter, like other great men, has had his imitations, and those too who copied his imperfections, rather than his excellencies. Because he sometimes pounced on little claims, and got them rejected ; these imitators conclude that it will be Potter-like, to denounce all large claims, and cry out at once, " the State has nothing to do with them." They re gard him as McCoy was regarded in ; Congress, the Bull Dog of the Treasury; \ and think that time, which makes a full srown dorr of what was once a puppy. will grow them up into able political econ omists and sound State financieVs. Hence it is, that these men are the wholesale opposers of the creditors ofthe State, and denounce their claims as either mere fic tions, or as claims against the U. States. Let it be remembered that I am now referring to the Debt of $125,139,13 .principal, and $9,547,49 interest, report ed by Henry Sherburne, Gen. Treasurer, to the Gen. Assembly, at their June Ses- ejon 1799. The present claims are parts Ipf this principal debt. The certificates 4)ow in the hands ofthe claimants,^ were all written in books in the Gen. Treasu rer's office, having a broad margin on which was entered the number of the certificate, written against it, and it is be lieved the name of the person to whom the certificates was issued, and also the, amount of it. The certificate was then cut out of the Book, by a crooked line, like an indenture, impossible to be exact ly imitated. The certificates were then delivered to the claimants, whose names were in them, and were payable to hira or bearer. .The books of margins were retained by the Gen. Treasurer, and are now in his oflfice, if not destroyed by tinie, accident, or some other less justifi able cause. Every outstanding certificate may be corapared with this margin at its corresponding number. If it be a gen uine certificate, the crooked lines ofthe one will exactly meet those of the othei" ; hut if it be a false or fabricated one, these lines cannot meet each other, and the • fraud will be detected. This brings us back again to the Report ofthe General Treasurer, June Session, 1799; andthe^ only question is, was such a report made, and was it, if made, correct ? For the outstanding certificates^ if corresponding i with the book of margins, must be gen uine, and if so, the State still owe the amounts unpaid to the claimants. These certificates were never rejected by the t].. States, or ever presented to them to be ¦assumed. Once more I refer to the " Hints." It will be remembered that by this little pamphlet, it is said that, at fhe close of\ the war, all who had furnished supplies, or done services, or suffered injury, were by the Gen. Assembly called together, and notes were given to them by the T9 State for the amount of their claiins, that these notes were given in iramense num bers, that the holders presented them to the U. States to be funded, that $200,000 were so funded and the rest rejected and that these rejected notes are the pretend ed State Debt. Now although it has been demonstrated that this is all false, it shall again be proved to be all fabrication. These notes were given, if ever given, soon, say three, or^ if you please, seven years after the close of the war ; — the peace was made between the Thirteen United States and Great Britain, Novem ber, 1783. The date of these imaginary notes would be before 1790. Look at the certificates holden by those who are own ers of the State registered Debt. They all bear date January 1, 1795, or since that time. Not one of these can there fore be a note rejected by those States, even if such a note existed. This Report was m?de nearly foi:ty- seven years ago, by a skillful financier, a man of unquestionable integrity. It has stood on the Records ever since that time, unimpeached, and unquestioned. If any thing be true, that report is true. Tliose who think they are like Mr. Potter, and therefore great raen, because they extlaim " the State levied no war, and contracted no war Debt," raust certainly shew that Mr. Potter questioned and objected to its correctness at sorae time, in some Gen. Assembly. Mr. Potter went into public life very early, doubtless before the close of the war, November, 1783. He must have been in the General Assembly at all the times when any question concerning the State Debt was brought forward. Look back and read, and inquire, whether his voice was ever raised against any vote of the Assembly recognising the araount, or the existence of this Debt' according to this Report. Examine the Report of Oliver Durfee, J. Sayles, J. J. Hazzard, J. Humphrey and S. Joslin, made to the March Session, 1789. By this the Debt is £] 06,976,3,1 , equal to $353,921,87, and in 4 per cents, .£46,092,4,6, equal to $138,276,75. Mr. Potter must then have been a raeraber of this Asserably. Did he, or did any other man object to this report ? It has stood on the records fifty-six years as a proof that it was then admitted, that the principii of 20 the State Debt was, at that day, $567, .'S62,62. Was it intimated, that the cred itors were to call on the United States for payment, or that notes had been given to them to enable them to do this? Not at all. Such a thought uever entered the mind of man till the writer of the "Hints" alledged it, without the shadow of a sin gle fact to support the assertion. The General Assembly by another act, at this sarae March session, 1787, admit ted this to be a debt due from the State, and the State only. For they ordered the General Treasurer to pay a fourth part of the 6 per cent, notes in the paper inoney issued by the State in 1786. — Would they undertake to pay the debts of the United States? Did Mr. Potter, or auy other man object to this, because the debts were United States', and not State Debts? No person pretends any snch fact. Again, in June 1791, the General As sembly, conscious ofthe injustice done to her creditors by payments in depreciated money during the three preceeding years, ordered the General Treasurer to call in all the creditors of the State who had been paid in this paper money, or whose notes had been forfeited for not using it to change these payments, at their specie value, and issue to each creditor a new certificate for the amount due to him. — Here again was another acknowledgment of this debt as a debt ofthe State. Did .Mr. Potter, or did Mr. Anybody object to this, and pretend that this was not a debt at all, or at any rate, a debt against the United States ? If it were so, some tradition of such a pretence would have come down to our ovvn times. There is none ; nor can any man of sense or truth j alledge such a fact. January session 1795, the General As sembly, a fourth time acknowledged the State Debt, and enumerating the kinds of claims against the State, ordered the General Treasurer to cause the stocks standing on the books of the U. States Treasury tothe credit of Rhode-Island, to be transferred to her creditor's in pro portion to the amount of the claims of each ; and to give a 4 per cent, new cer tificate for the balance unpaid by this transfer to each creditor. At the follow ing May session the General Assembly, a fifth lime, recognized her indebtedness by ordering the General Treasurer to bring within the law of the preceding January, five other classes of notes against the State. This was done, and these claimants received their share of the U. States stock, and certificates at 4 per cent, for the unpaid balance. These were all admitted to be debts ofthe State. For had they been debts of the U. States the stocks of the State would not have been taken to pay thera. Indeed, the law of the U. States authorized the tranfer of these stocks to none but the creditors of the State. Surely Mr. Potter, or any other man never denied or controverted any one of these facts. At their June session, 1797, the Gen. Assembly, a seventh tirae, acknowledged their debts by calling in all old certificates, and instead of sending their creditors to the United States for payments, ordered new certificates to be issued to them, car rying an interest of 4 per cent. The Asserably ordered also, that two years in-* terest, up to January 1, 1797, be endors ed on all certificates issued or to be issu ed under these laws ; and that certificates be issued therefor payable out of the next tax. This brought all the State Debt to one class, evidenced by one form of cer tificates marked by an endorsement of two years interest thereon. Does any thing in all this look as if Mr. Potter, or his associates in their management ofthe finances of Rhode-Island, ever imagined that the State owed no debt ; and that all the certificates, issued by order of the General Assembly, were issued to enable her creditors to get their claims of the United States ? Let him who presumes to assert such a falsehood, read the records of the next session of the General As sembly. At the October session 1797, the As sembly ordered a tax of $20,000 ; and they ordered it to be paid in gold or sil ver, or in the certificates newly issued by the General Treasurer for the two years interest on this State's Debt." This clinches the last nail on this question. Every man who held a claim against the State had received a certificate thereof at 4 per cent, interest per annum ; every holder of such a certificate had endorsed on it two vonrs interest and received a ZI certificate therefore, and every one of , Debt amounted to $125,139,13; and these certificates for interest were paid^ that the certificates for the two years in- by this $20,000 tax. 'This was the eighth ) terest amounted to $9,547,49. The cer- recognizance of the State Debt by the' tificates of interest had been paid by the General Assembly. Let the Sciolists of) tax of October 1787 ; and that payment these times in State financial history, ^^ was a payment of two years interest on read, if they can read, grow wise, if it be 1; each and all the certificates of the State not too late ; and then possibly they may , Debt. What reasonable man can say he become modest, and cease to abuse the ) never gave a note when he admits that he General Assembly with advice consisting S has paid two years' interest on it? How ^together of misrepresentations, and ? can he deny that he now owes it, when wl)ich must be the effect of their want ofS he declares that he has never paid it. — knowledge. ) That report of Col. Sherburn, General i These eight times did Rhode-Island, ) Treasurer, was not then, and never has by her General Assembly, acknowledge \ been controverted. That report is the her debts like an honest and patriotic $ basis of our claims against the State of State. She did more. She added a ninth \ Rhode-Island ; and if she now repudiates recogition to those eight. For, at the > these claims she denies the truth of her same session, 1799, the General Assem- \ own records. That she will not do this bly received the report of Col. Sherburn, ? is fully believed by him who holds General Treasurer. By this report it is S seen that the whole principal ofthe State? The Plough and the Sickle. 22 J%o. 7. It has been seen, by the last number, that by the report of the General Treas urer, made to the General Asserably at their June session, 1799, the whole prin cipal of the State's debt, for which cer tificates had been issued, amounted to $125,139,13. Those certificates had been issued to each creditor, dated Jan uary 1, 1795, and from that date bearing an interest of 4 per cent, per annura, and on each certificate was endorsed two years interest paid to January 1, 1797. The blanks for these certificates were printed with a wide margin,, and bound in books. These blank certificates were in the following words : (No.— )>No.= State of Rhode-Island and ProviMence Plan tations. Gen. Treasui'er's office, — , 1795. T 1 hereby cej-tify that there is due-^ — of or bearer, from the State of R.Island— dollars— cents ; it being a balance not pro vided for by the transfer ofthe funded and deferred stock ofthe U. States be longing to this State a- greeable to an act made and passed by the Gen. Assembly of this State at their January session, 1795, which certificates by order of the Gen. As sembly are to carry an in terest of four per cent. per annum from the 1st of January one thousand seven hundred and nine ty-five, until paid. (Signed) Henry Sherburn, General Treasurer. On the back is endorsed two years in terest paid to January 1, 1797, and on all certificates so issued. These certificates Were filled up with the name of the person to whom issued, the place of his residence, the sura due to hitn, with the number of the certifi- , cate, and it is believed, that the same ! were entered on the margin — the numbei' certainly was. When so filled up, the ; certificates were cut from the margin by a saw tooth or indented line, impossible | to be imitated. These were delivered to the respective creditors, and the book of margins retained by the General Tresuf- er as a perfect check against all attempts at forgery. These certificates altogethei' were the principal of the State's Debt ; and because they were all entered in books the whole debt was called the Reg istered State Debt. How many times, and how long at each time before this June session, 1799, the General Assembly had the State debt under consideration, cannot now be known ; but nine times it has been shewn that they passed orders, resolvesj or laws upon this important subject until they brought it down to its then present araount and systematic form. Never throughout all these years, all their discussions, and all this legislation, during all these vari ous phases of this debt, was it ever inti mated that it was not a debt ofthe State of Rhode-Island, or that creditors ought to look, or could look to the United States for payraent. It should not be forgotten that the law of June 1787, for calling in old and grant ing new certificates, was still in force when at the June session 1799, the Gen. Treasurer reported the amount of certifi cates already issued. It was then known that old certificates were outstanding; for at the February session 1803, the General Treasurer reported that the i whole amount of the principal of certifi- ( cates then issued, araounted to $131,583,- ( 64. Nor had this brought in all ; for at )the June session 1819, Hon. Dutee J. (Pearce and Thomas G. Pitman, a com- mittee of the Gen. Assembly reported that, up to Oct. 13, 1807, the principal of issued certificates amounted to $133 - 178,28 ; and that since that time, thirty- nine certificates had been issued, araount- '"^ ^l.ii'f^/Z' ^""^ *^^ ^^°^^ araount was $l<3o,676,05. These two reports were never contro verted ; and they were two more distinct acknowledgments that this whole amount was a debt against the State, and the gtate only. What man, in June 1819, , (jould have been found so ignorant and' iofool hardy as to say this debt was nev er a debt against the State ; when this committee in that same report, say that i",tinder four appropriations the State had already paid $74,415,24 of this amount, leaving outstanding unpaid, and still due 164,255,11." The men of those tiraes not only were honest, but they knew something concerning their own afifairs. What shall we say of those who, in these days, undertake to advise the Gen. Assembly, and tell them that Rhode-Is land never owed a State Debt ? Let us look back and learn how the State paid almost $100,000 of this debt, and then determine whether we shall believe the State records, or the mere declamations of those men who are so wise " above that which is written." Let us see what the State have done to reduce this State Debt. In May 1792, the Congress of the U. States established a Board, to consist of < the President of the Senate, the Chief J Justice of the U, States, the Secretary of < State, the Secretary of the Treasury, ' and the Attorney General. They were denominated the Commissioners of the Sinking Fund. Certain monies were pla ced in their hands to purchase up the evi dences of the U. States' Debt at the mar ket value thereof; provided, that in no case should they pay over the nominal amount. How much of the U. States' debt was so purchased it is not material to state. This mode of sinking this debt became an example for the several States, and Rhode-Island adopted it. At the February session of the Gen. Assembly, 1803, a sinking fund was es-| tablished, and Samuel Vernon, Constant Taber and the Gen. Treasurer were ap pointed Commihsioner.- of this sinking fund. There was placed in the hands of these Coramissioners fifteen thousand dollars of the last tax, and the proceeds of the confiscated Gov. Wanton estates on Canonicut and Gould islands, togeth er with the amount of sales of the United States fiinded stock, owned by the Slate, in all $26,123, to purchase up the evi dences of the Registered Stale Debt. Of the certificates exactly like those now holden by the present claimants, these Commissioners paid oflFat an agreed price, and took up ofthe principal of this Reg istered State Debt $34,831, as they re ported at the June session, 1803. At the June session 1804, the Assem bly anxious to reduce the State debt, re newed this sinking fund, appointed Sam uel Vernon, the Gen. Treasurer, and Na thaniel Hazzard, Commissioners ; ap propriated and put into their hands $10,- 000 for purchasing up, and paying off the same kind of certificates evidencing the State Debt. These Commissioners re ported to the October session, that they had taken up $13,347,59 principal of these evidencesof the Registered State Debt. Although all sources of revenue, ex cept direct taxation, had been transfer red to the General Government, and the State could neither by excise or impost raise money, yet sc desirous were the Gen. Assembly to pay this State Debt, that the sinking fund was again renew ed at the February session 1804, and Christopher Fowler, William Hararaond and Jaraes Rhodes were appointed Com missioners. Money was appropriated and placed at their disposal; and they paid off, at an agreed price, and took up of these certificated evidences of the Reg istered State Debt, being principal with out interest, to the amount of $10,680,- 75, as they report at the following May session. Again, at the October session 1810, the Gen. Asserably appointed Sarauel W. Bridgham, John L. Bass, Charles Brayton and Nathaniel Hazzard, Com missioners of the sinking fund, and they with $9,405,62 placed in their hands by the Gen. Assembly, paid oflf, at an agreed price, $15,555,58 ofthe principal ofthe Registered State Debt, and took up cer tificates evidencing that debts to that 24 amount, as it appears by their report made tothe Gen. Assembly at the June session 1811. This brings the history of this Regis tered State Debt and the payments made thereon, down to the report of Dutee J. Pearce and Thomas G. Pitman, wherein they state, that $74,415,24 of this debt has beeu paid, and $64,255,11 remain outstanding and unpaid. This was at the June session 1819. At the June session 1820, the Gen. Assembly slill further to sink this debt, •ordered the Gen. Treasurer to take up, and pay off, at 66 cents on a dollar, $3,- 127,69, then holden by Ephraim Hart, of New York. This reduced the unpaid debt standing on the Registry of the Gen. Treasurer's oflice, to $61,129,42. Once more — and at the same June session 1820, the Gen. Assembly appoint ed Commissioners of the sinking fund. These were Philip Allen, Charles Bray ton and Earle D. Pearce. They report ed to the Gen. Assembly at the October session 1820, that with the $9.961 ,39 re- -ceived by them from the Gen. Treasurer, they had paid oflT, and taken up, of the -principal of the State Debt, in the cer tificates which were the evidence thereofi -•registered in the office of the General Treasurer, the further sum of $17,210,- 23. This payraent, it will be seen, makes the total amount of payments made, $94,- 210,16 ; and leaves an outstanding bal ance, according to the registry, of $43,- 917,19. By this short historic sketch of the "Registered State Debt of Rhode-Island, and of the sinking fund established by the Gen. Assembly for paying oflf, and taking up the evidences of that debt it appears that the Legislature of the State, have made six specific appropriations for that purpose. Five tiraes they employed from three to four Coraraissioners, once the Gen. Treasurer alone, to take up the certificates of this debt in the hands ot their creditors. Is there the least prob ability that, at any of all those times, when those appropriations were made, any man ever said or intiraated, or im agined that these certificates were not, in-law, justice and good faith, due to the persons who held thera ; or that the U. States, and not Rhode-Island owed them?! The raan who made such a suggestion« would have been deemed a candidate for? a raad house, and sent off by his friendsji to Dr. Willard, at Uxbridge. Were thesei Coramissioners ever cautioned to be care ful, and told there were many floating] claims out which though given by thej State, were never intended to be paid by,( the State, and had been rejected as un-j just by the U. States ? No ; it was never, intimated to one of all these men, for, there is not and never was any such pa-, per. The Commissioners had a sure. check book. The Book df Margins, outi of which the issued certificates had been) cut, by such a line as no human hand, could shape another piece of paper, but, which the true certificate would fit, so that, like the two halves of a bean, not, the light itself could pass between them.' $94,573,16 of these issued certificates have been put to their numbered mar gins, found to agree, and been paid. Tbe claimants hold the other $43,917,19. Let the Books of Margins be produced in open General Assembly ; call up each claimant with his certificate ; let it be placed to its numbered margin ; if the lines disagree, let the certificate be burnt; if they agree, let the certificate be paid. No false or forged certificate can pass through this ordeal ; and no true and genuine one can be repudiated by the General Asserably, without placing a blot of perpetual infamy on the very fore head of the character of Rhode-Island. The Plough and the Sickle. { 25 Xo. 8. "Repudiation, in the sense in which it < is now used, was first adopted in the< State of Mississippi. The Governor, inl his message to the Legislature, January, 1841, adverted to the plan of Repudia ting the sale of certain of the State < Bonds, for fraud and illegality." In' 183S, the Union Bank of Mississippi was< chartered and authorized to borrow $15, S00,OOO. The Governor was empower- J led to issue 7500 Bonds, of $2000 each,' bearing an intei-est of 5 per cent, and J redeemable in 12, 18 and 20 years. He< was also erapowered to subscribe -$5,-' 1000,000 to this Bank capital. In June< [1838, he delivered to the officers ofthe; [Bank 2500 Bonds;, amounting to $5j000,- 000. These bore interest at 5 per Cent. from February 5, 1838. By the Charter, Coramissioners were appointed to sell' these Bonds, but were not allowed to J sell them for less than their par value. — ( On the l3th of August 1833, the Bonds ' were sold to Mr. Biddle for $5,000,000, < payable in five instalments of $1,000,000 J each, on the 18th of November, 1838, ion the 1st days of January, March, May < 'and July, without interest. The Bonds, were duly paid. The Bank went into( operation, and lost all its capital beforej the 1st of January 1841. These Bonds were negotiated in Eu rope. The persons who received andj paid their raoney for them knew not that < the Commissioners were limited in their < sale to the par value of these Bonds, or < that they were sold at a loss of 5 or 6, months interest. At one session of the ( Legislature it was voted that this sale J was highly advantageous to the State. At ( another, it was resolved that the State' would honorably discharge these Bonds, ( and that it was a foul calumny ©n the '¦ State to say, that she would repudiate them. Nevertheless Gov. McNutt, at the ; session of 1842, obtained a majority for ! repudiation. The history of this act of repudiation, ; soon passed over to Europe, where these bonds had been purchased and were holden. It was a base transaction and universally execrated. The American character was tainted, and Europeans shunned the people of our nation as if their persons were infectious — and the curse of repudiation clung to them like a leprosy. "The wickedness, the base ness of this repudiation is admitted by all, even rogues and villains, who would have done the same, and worse than this . For he hiraself, who would have sold the box of ointraent for 200, pieces of silver, and given it to the poor, would in a case like this, have cried out, "Honor araong thieves." It has been seen that the debt of Mis sissippi was contracted on specftlation, for the establishraent of a mammoth State Bank. It might have been a source of great profit if the funds had been placed in the hands of honest and capa-; ble men ; but placed as they were, the whole capital was lost in about two years. This was nothing to the honest Bankers of Europe, who had fairly pur chased these Bonds, and paid $5,000,000 for them. The people of Mississippi, bitten by their own unprincipled specu lators, could not claim the right to snarl and bite these fair European bankers- hut nevertheless, they seem to have the excuse of dogs, which when bitten by those infected by hydrophobia, fall on and bite the next animal coming in their way. This surely does not furnish any ex cuse or paliation for the people of Rhode- Island, should they repudiate the small fragment of their revolutionary debt. In this there was no speculation, no loss by any failure of the; capital so obtained on loan. It answered its great purpose. It aided in the purchase of independence and national glory. For these notes giv en by the State of Rhode-Island for value received, the State purchased what was incalculably more valuable. To repudi ate these notes, this debt, would be " as if the mouth should bite the hand for lifting food to it." It has been seen that this debt, at the March session 1787, amounted to more than $600,000, and that it had, at the June session 1799, been reduced to •$125,139,13. Between these two periods the population of the State could not have exceeded 50,000 souls. The agri culture of the State, from, the eflfects of the late war, luust have been in a very low condition. Of manufactures there were literally none. Navigation and com merce were just beginning to spring up from the ashes of the revolution. Prov idence Bauk, with a capital of $250,000 was chartered November 1, 1791. The Bank of Rhode-Island was chartered Oc tober 25, 1795, with a capital of $100,- 000. These were the only Banks in the State until long after that tirae. All the banking capital of the State was $350,- OQp. Nevertheless, with means so limi ted, Rhode-Island did, in this short pe riod, aotually sink her State debt more than $475,000. After this, from June 1799 to October 1820, the State paid oflf upwards of ^94,000 more of her State Debt, and left outstanding of the princi pal less than $44,000. Will she listen to the voice of those who advise her to dishonor herself by repudiating this small remnant of a debt, of which she has al ready paid so much ? It is in vain for any man to say, she does not owe this debt, or to pretend that the United States are liable for the payment of it. Let ao man say that these certificates have been so long outstanding that length of time raises a presumption of payment. No length of time can raise such a pre sumption, unless it be in a case where a man can sue and neglects to do it. The State of Rhode-Island is not sueable, either by her own citizens, or by those of other States; therefore, the length of time since these certificates were issued, raisss no presuraption of their payraent. Besides, there is a perfect record of all payments which have been made, both as to the sums paid out, and the araount of the certificates redeemed and taken up, together with the number of each, and the specific sum payable ou it, so that all must now be unpaid, ofthe payment of which there is no record. There are, therefore, but two cour ses open before the State. Her Leg islature must take one or tlio other. These courses are payment or repudia tion. In speakingof payuient, 1 will not mortify a people of such weallh as are those of Rhode-Island, by pointing out any methods of making this easy, to them. Were they, as their fathers were in 1787, not raore in number than 50,- 000, and loaded by a debt of $000,000,: alraost literally without any other ineans except their hands, I would devise some raode of funding this debt, so that by a yearly payment of the interests, and a^ small part of the principal, it might he- sent down from one generation to anoth er, until all was worn out and paid. Now the amount is so inconsiderable, and the people so numerous, and abound so in wealth, that they raust feel dishonored by such a proposition. Her population is now more than 100,000 souls. The Banking capital in the State r,nd all owned by citizens of Rhode-Island, amounts to $10,324,127,50. The raanufacturing capital is estiraated at moie than $10,- 000,060. In 27 cotton, iron and ma chinery establishments in the city of Providence, are annually produced goods to the araount of $2,642,000. The cap ital engagedin navigation and coramerce is perhaps four times as great as that of any other state, if we have respect to her territory and population. Such a people, of such unparalleled wealth, are raost respectfully requested by a small number of creditors, and who, or whose predecessors, have been such during more than half a century, to pay a small debt, in amount of both principal and in terest, not exceeding 8100,000. Will they pay, or will they repudiate? ¦>. Before the close of this paper, I must be perraitted to say a few words, on this state policy, called Repudiation. When done by a community, not sueable, it nieans more than inerely neglecting to pay. It is, though m-t in terins, yet in eflfect. Confiscation. The man who will not pay may be sued, and if able, com-- pelled to pay ; but the unsueable State, which will not pay, takes the property of her creditor as if he were a traitor, and converts it to her own use. This is no more, and certainly no less than Confisr 27 mtion. Nay, the repudinted creditor is; «orse used, as to property, than he who < is guilty of high treason. His property knot confiscoted, and his children can .inherit through him. The repudiated ereditor, though not hanged, may have liad all his property taken away, and he md his family made beggars. It is seen th-at this debt was contracted 0 sustain the great principles ofthe Rev- ilution. One, and the most important one of these was, that private property iiould not be 1 akm for puhlic use with- Wt a just compensation. This the Brit ish Parliaraent clairaed right to do when ihey clairaed the right to tax the Colo nies without their consent. Will the Slate of Rhode-Island repudiate this iebt; confiscate the whole araount to her own use, and thereby do what she con tracted this debt, and these raen loaned to her their raoney, to prevent the British Parliament from doing? I The Constitution of the United States, and therefore, of every Stale in the Union, provides that private property shallnot be taken for public use, withoiit ftst compensation ; that no maris inheri tance shall be taken from him, hut hy the fudgment of his peers, and the laws of theland; and that no State shall make my law impairing the obligation of con tracts. What is this repudiation? , this modern, this radical confiscation ? Does it not convert private property to public use without compensation ? Does it not take away a man's inheritance without the judgment of his peers, and against the laws ofthe land ? Does it not impair ¦und destroy the obligation of contracts? Let not the people of Rhode-Island believe that, because the people of Mis sissippi have pushed their Legislature down to the degraded level of Repudia- ition, their exaraple can furnish any pre cedent to be set up and followed by the children of the Pilgrims of Plymouth. Did Roger Williams, imbued as he was, with all those pure and sublime moral principles, and with one in addition, the principle of toleration, did he found the State of Rhode-Island that the people of that State might, in little more than two centuries, abandoning all these princi- ple.i, sink dov/n into the abominable filth and mire of Repudiation ? Iioill not be lieve it. The thing is not possible. A single individual may make a shift by subtle devices, and corrupt practices to avoid payment of his just debts, and no one but hiraself be thereby deraorf.l- ized. It caunot be so in a coraraunity. When a State repudiates her jnst debts, the public mind must be lowered to a to tal disregard for all the great principles of truth and justice, before a Legislature I chosen by such people, can be brought < down so low as to adopt so wretched and I dishonorable a measure. It should be reraerabered, by the advisersof the Gen- j eral Asserably of Rhode-Island, that I Governor McNutt advised the Legisla- ] ture of Mississippi to repudiate their i State Bonds " (or f rated and illegality in the sale of them." Can these honest ad visers find s,ny fraud or illegality in the certificates issued January 1, 1795, by the General Treasurer, and now holden by the honest men who have paid their raoney for them ? The man who dares to say that the certificate holden by me or any other person, was obtained by fraud or illegality, will be spit upon; and kick ed out of the company of all honest men , by every honest man of all parties in Rhode-Island. It was said by the men of Law and Order, that Thomas Wilson Dorr intended to make a requisition on the Banks and take their property for public use; butit was not said th<\i. he did not intend to raake them compen sation for this property. The advisers of the. General Asserably, all Law and Or der raen, advise the State to rcpuJiati her just debt, and thereby confi ¦calc .'pl00,00 of private property without any corapensation. If this be so, let Law and Order men lick the radical dust .•"mm the feet of Dorrisra, and place that phe noraenon in the chair of moral merit, i.^.r above any aspiration of their own. Besides all this, " There is an enlight ened, and religious public opinion which shines upon the world like the snn,, and penetrates every where, like the air of heaven. No people can escape^ from its influence, or resist its pnwer. I' ha? already become the voice of the i;rpa> family of civilized man." What is thf language of this tremendous voice? J 28 feel authorised to quote from a book, val ued, I believe, as no other book is valued, by the people of Rhode-Island, though I do not include in the number some of the advisers ofthe General Assembly of 1844. A Prophet, after a most sublime eflfusion of piety, suras up the whole du ty of man, in three short parts of one short sentence. The first only of these is quoted: "He hath shown thee, O man, what the Lord requires of thee — IT IS TO DEAL JUSTLY." He who made, and governs the world, will not see His authority slighted, and His laws violated by communities, without pun ishing them. Lef it not be said that this is a small matter, and that such a deed as repudiation, done by Rhode-Island,, will not be so extensively known as to injure her reputation. "This is all a sad raistake. Rhode-Island cannot escape by the smallness of her territory, or the diminished amount of her repudiation. Iscariot, who sold his raaster for but 30 pieces of silver, has been universally ex ecrated ; but Count Julian, who sold to the Moors the Gothic Kingdom of Spain, his own country, for an expected vice- royalty, has had many admii'ers. When Rhode-Island shall raise the standard, if deserted by man's wisdoin and God's grace, she should raise it, and enter the ranks of repudiating States with Missis sippi, and her leaders, like the leader of the out-laws of Heaven, shall exclaim, " Evil, be thou our good ;" it will be to the moral world like the great earthquake of the Apocalypse to the physical. The odor of this odious deed will spread, like a foul and faeted fog, over the United States, and across the Atlantic. The scent will be loathsome in the nostrils of the whole; civilized world ; and like the smoke of the burning bitumen and brirastone of Sodora and Gomorrah, will rise up to Heaven. Will Rhode-Island place herself in such a co-partnership of abomination ? No, never, while the \ earth shall be furrowed and reaped by i The Plough and the Sickle