The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1910-09-20
rHE. FARMER AND MECHANIC

were not SO nedVy as lLey udu UeeL
formerly, and a breathing spell was
afforded the States in which they
might recuperate.
For the purpose of soliciting foreign
aid, Franklin, Adams and Jay were
sent to France, Holland and Spain
respectively. to lay before the courts
of those countries the needs Of Amer
lea. The various arguments used IN
setting forth the reasons why the
loans were clearly and cogently stated
in a letter from Robert livingston to
John Jay in 1871. He says, IF the
great powers Of Europe. with every
advantage that settled governments
enjoy, feel themselves under the nee
essity of making foreign loans, can it
be expected that a war Of six years
in the heart Of our country, should
0 have abridged the resources of a
State, which had every necessity for
their army to import; which never
manufactured for itself; which had no
marine and which with a number Of
internal enemies in their bosom, had
civil governments to esta bl1sh.'
The papers Of Adams and Franklin
in which they attempt to persuade the
courts Of Holland and France to ad-
vance money to the struggling colo
MES take high rank among the ia
nous documents of the Revolutionary
period. The skill in presentation and
cogency Of reasoning are unsurpassed.
The American Revolution excited a
great deal Of interest in Europe. and
in France particularly. Thai nation
was at one time the possessor Of ex-
tensive territories in America which
were wrested from her by England IN
the Seven Years War. To give aid
and encouragement to the struggling
colonies was the cardinal principle Of
the foreign policy of Vergennes, the
minister of foreign affairs. By this
means, the French sought to avenge
themselves upon England.
The usual method of procedure an
ployed by Congress was to draw bills
to find some means to pay them off
when presented. In 1879 Congress
directed the treasury authorities to
draw on France at their pleasure.
For the redemption of these bills, the
credit Of the United States was
pledged. After this method of raising
money was adopted, it was impossible
to stop at the proper time. The re-
suit was, that Mr.. Morris who was Su-
p~erintendent Of Finance, greatly eX-
ceeded all reasonable bounds; being
forced to do so by the stress of cir
cumstances. When all other means
were exhausted in meeting these de-
AAohoo > w III LIZ al
lowance made to him by Congress to
a its drafts and ANITA its credit.
From 1873 to the end of the war, the
interest on the foreign loans consti-
tuted one Of the most pressing de-
mands upon the Continental treasury.
During the administration Of Morris,
North Carolina was so exhausted that
she was unable to make any contribu-
ton whatever towards the payment of
the interest on the public debt.
From the beginning of the war, the
States a resorted to taxation which
was gradually increased from year TO
year as the people became accustomed
to bearing the burden. When the Con-
tinental Congress was depending upon
the efficacy of ape money, the taxes
were levied for the purpose of sinking
the bills; but when the government
began to borrow abroad the taxes
were levied to meet the interest pay
ments which amounted in 1882 to
S13O,236.50. But at no time during
the war could the taxes be said to be
heavy as compared with those Of the
nations Of Europe. John Adams in a
letter to Mr.. Calpoen, OF Holland.
made the remarkable statement that
IF as heavy duties were laid upon
articles of consumption and importa-
ton as are laid in England, or even
IN Holland. they would produce a
revenue sufficient to carry on this war
without borrowing at all"
The amount Of taxes which can be
inn posed upon anv oAonle depends in
a large upOn the temper and
frugality of the inhabitants in addi-
ton to the consideration of the
of wealth of which they may
be possessed All these circumstances
during the Revolution made it impos-
slDIe to raise the sums which were
badly needed. This resource. insult
rc1ent though it was, constituted the
productive means Of raising
money and supplies employed by the
continental Governme nt. It's import
ance was 1ully conprehended by Gov
ernor Norris, who was one of the
aplest flnanciers of the REVOLUTIONARY
period. In a letter to Jay in 177S he
For Heavens sake my dear
friend. exert yourself s]trenuous,y in
ne great eading business Of taxation.