The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1828-04-03
which is was made. To presume the con-

&ry would be derogators to the dignity
ofthat body, and the idea must be rejected;
and, besides, the thing proves itself. Con-
grcss intended an equivalent to the half
pay, in gross sum. They must then in
tend this either in money, or in something
equivalent to money-otherwise they did
not intend an equivalent. Now, nothing
but securities, guaranteed by particular
funds, we're equivalent to money. Certif-
Gates ofcredit merely, were not equivalent
tO money so far from 1t, that they were
eighty per cent below the par Of money.
FCongrcss, then, by securities, meant roth
ing but certificates Of credit, instead of
meaning an equivalent, they mean! only
the fifth part of an equivalent; and, it is
remarkable, that these securities were to
be at five per cent. while all certificates OF
credit were at ak per cent. Then, II Con-
gress meant these securities to be placed
on common footing with certificates Of
credit, instead ofIneaning all equivalent IN
money, thoy did not mean even an equva
lent incertticatcs, but something less, by
abou' sixteen per cent. So, while securities
would be but one fifth Of an equivalen t
these secLIities would be but five siyths of
that fifth. The certificates would be but
the shade, not the substance, ot all equiva-
len., and these securities would be but the
shadow Of that shade.
have stated, that while these securities
were at FIVE per cent all certificates offered
il were at six How can this be accounted
for, if the g securities were to be but GER
tiicates of credit? You must suppose ei-
ther that Congress deemed the army cred
itors less meritorious than other classes
thon all other classes, and therefore were
to be put on less favorable footing; or,
that, being at less interest, were to be
put on more solid footing. And who will
Say that Congress deemed the army cred
it0rs less meritorious than the others in the
face of all their resolutions, which thicken
upon us in every page OF their journals, ex
pressivc of the contrary, and entirely ofthe
contrary?
Af'er tie half pay act, hut before the
commjiation act had passed, the army was
rs-organzed, leaving a number of super
numeraries, who retired from the service,
but who still were entitled to the half pay.
Now, the communication act gives the secu-
rites Of five per cent. to the officer then in
the regular army, but certificates Of credit
at six per cent. to these supornumeraries.
u
ton between the supernnme raries retired
from service, and the officers then in sec
vice, and to remain in service and, ifCon.
gress meant the securities at five per cent.
To be merely certificates Of credit--meant
that distinction TO be in favor of the super.
numerares and to the amount of sixteen
per cent. then the army, who were depend
ed on 10 bring the war to a successful ter
mination, and on whom the salvation Of the
country depended-who were to endure the
tolls and lprvations Of war; to confront
danger and death, in all the horrid forms
of war--were to be postponed to the su-
pernumeraries who were retired from the
service, and were in safety at their own
homes. Yes, Sir, your warrior, who was to
live in the tented field, and 10 jeopardize
his life on that field--who was to mngle
in the battle, aad see it rage around him
who was Ia see his companions fall by his
side, himself equally exposed to fall-to sec
that battle field strewed with carnage and
death to see the fate of his family invov-
ei in his own tn @ dissolution of his wife
and the orphanage Of his children--yes,
Sir, this warrior was to be postponed to the
supernumerary, retired from the service
sleeping quietly Of nights in his own bed
living at ease in the bosom Of his family,
ENJOYING his own fire side, and all the com.
forts Of civil life. and knowing nothing Of
the conflict but what he saw in the Gaz-
ette. Yes, this supernumerary was to re-
ceve sixteen per cent more than this war
rior, ifthose securities at five per ceut.
were TO be certificates Of credit merely.
aud were not to be guaranteed by particu-
lar funds. Who can believe it?
Ifthesc securities, at five per cent not
guaranteed by particular funds, wore to be
delivered. i ask, why, in the name Of won.
der, why were they not delivered! Now
not one such security was ever delivered
but, on the dissolution Of the army, what
was delivered was merely certificate, Ger.
tifying that so much was due, and that it
was payable at six per cent. Why, ask
again? II could only be because Congress
were sensible TINT securities at FIVE per
cent. not guaranteed by particular funds,
were not the securities intended to be dc.
Ivered, and expected to be received. And
therefore, they did the only thing which in
their circumstances, they could do--they
delivered certificates Of credit upon the
credit Of the country, at six per cent. pre-
cisely as they did TO all other creditors.
II any other possible reason can be assign
cd for not delivering five per cent, securi.
ties, let i, be done am not able to con.
ccive any.
Such is the evidence that satisfies my
mind, that these securities were 10 be
guaranteed BY particular funds others will
Judge. ofthcir force for themselves. If it
establishes this point, the consequence
scsms to me to be necessary that a con-
tract made with these petitioners has been
..t...J a,J to tbeir wronp for which tbpv