Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-01-09

. CHARLES CAsRoLL, Of Maryland.
HALL or REPRESENTATIVES,
WASHINGTON, Dec. "a, l84s.
< DRAR SIR :-Although nave not pro-
posed a measure for the Assumption OF
State debts upon the principle oil the law
OF 1890, as has sJmetimes been asserted
lhaye not the shadow Of a doubt on my
mind that the General. Government has
the power to assume the debts Of the
States whenever, in Its Judgement, the
public interest should require il, or the
necessities of.the States should strongly
demand its exercise. II is too manifest TO
be deba'edthat Congress has precisely
the same power now, and Icaa exert as
ENLARGED a discretion in its exercise, as
when II assumed the debts Of the States
iu.t790. And pending the discussion OF
thar question IN Congress, the power OF
the General Government was hardly
mooted. To assert that Congress has
no power to extend aid TO States almost
bankrupt, and to a people who are in
the midst OF ruin aud distress, is not on
~ 10 declare the Government a failure,
but, to alternate from it the respect of the
States, and the cherished affections of
the people. The States created the
government as their agent, and the peo-
pie adopted II because they thought
that their individual interests would be
advanced and their general welfare pro-
NOTED. The great and illustrious men
who framed the constitution, and 6rst
administered its vital and saluiary prin-
ciPles over:the States and the people,
passed and sanctioned the law which as
sumed the debts of the States. The
principal and almost only hostility TO
the measure arose from the fact that
subsequent bondholders. who hal pur-
chased outstanding State bonds and
State issues at great depreciation in val.
ne, were placed on equal terms with O.
riginal holders.
MIR. Smith, OF South Carolina, Fisher
Ames, OF Massachusetts,, and Mr.. Madi
son, were the o jealous advocates Of
'assumption-Mr. Madison ,maintaininn
assumption, but urging some classi6ca-
ton Of the State dcots.
When tho House resolved itself into
committee Of the Whole upon Mr.. Ham
ilton's report, which had been made un.
der an order OF the House, Mr.. Smith of
South Carolina, who led in The debate.
in order to test the sense Of the House
upon the various measures
ded by the Secretary Of the Treasury,
Submitted the following series OF reso,
lntions, which he advocated with great
ability.
R,solved. That Congress ought not ioadI urn nm.
'ti 'hey nave ADOPTED such measures as will make an
adequate provision Cor the public debt.
ResolveS. That in making suoh provision. no dis.
elimination shall be made between The original hal.
de . Of the evidences. and the n~ssignees thereof
Resolved. That such Of Ihe debIs Of the individual
States. 90 have bees incurred by them, during the Iate
war ought 10 be assumed by the General Goyenmen,
and like funds provided for them,
RssotUed, That The arrearaees OF in,ere,,. on the
Continental and Stale debts. ought TO be funded
and consolidated with The principal.
RssolDed, Thai The interest 10 be mid ibereo,
does. not .eIcssd-PsE cant per .RRRum, for tbe
present.
Upon the upon Assumption, the
question was lost in the House by n
small vote, and Mr. Jefferson describes
the consequence as follows:
SsThe great and trying question, (As.
sumption Of State Debts,) however, was
.lost.in the House of Representatives
SO high we're the fueds excited by this
subject, that on its rejection business was
suspended. Congress met and adjourned
j from day to day, without doing n
thing, the parties being too much out Of
temper 10 do business together"
Mr.. Hamilton urged him to use his in
huence TO secur a reconsideration OF
the subject on the passage Of the bill.
Mr.. jefferson states that " he (Mr. J.)
proposed to.him, (Mr. Hamilton1 how
ever, to dine with (Mr. j. the next day,
and | would invite another friend or
two, bring them into conference togeth-
err, and | thought il impossible that rea-
sonable men, consulting together coolly,
could fail, by some mutual sacrifice Of
opinion, 10 form q compromise"
Mr.. White, and Mr.. Lee Of Virginia.
were invited, aHdRt Mr.. Jefferson's Ia.
bic il was agreed hat cit would be bet
ter-that the votO OF rejection should be
reconsidered, to effect which, some mem.
bers should change iheir VOTES. But it
was observed that this pill sRould be pc.
culiarly bitter TO Southern states, and
that some concomitant measure should
be adopted 70 sweeten it a little for them.
There had before been propositions to
10 fix the scat OF Government at Phila-
delphia OF at Georgetown on the Potam.
&c; and il was thought that by giving il
70 Philadelphia for ten years, and to
GsorasioWn permanently afterwards,
ina might as an aaodyne, calm in
some degree ~fhaffermenf which might