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

came to realize that the war for In
dependence was 10 be a life and death
struggle these resolutions were some
times violated, but the Safety Commit
tees kept these transgressions down 10
the minimum. Writers on Political
Economy consider dissipation. extrava-
gance. and gaming as an economic
waste. BY preventing these things as
much as possible. the people OF North
Carolina We're thus eli the more able
10 contribute 10 the common cause.
The influence Of these measures was
indirect rather than direct.
The most pressing question that
CONFRONTED the delegates at the begin
nIng OF the war was that OF how
money could be Immediately supplied
TO support the army. In a letter writ
ten by William Hooper TO a friend in
l''3, this was q matter Of great per
pleXlty to him. He says. II Il should
pc thought eNpcdient to raise troops In
each colony, and money OF course must
De supplied. from whence must il come
IN our Province Would the ProNin-
c1al Convention think It prudent to
emit for that purpose. or are not the
circumstances such as 10 leave ~ al
~ternatlVe to their choice Whether
this or Ia Will be recommended Is
still in suspense Every man 1t his
property be ever so small. has still lis
rights TO preserve, and claims a share
~ I - IL 81
eventually affect him
since a direct property tax was i'm
practicable at this time. the eXpedient
OF issuing bills for credit was The first
device employed for the purpose Of
raising revenue. Hooper anticipates
what action would be taken bv the
Provincial Assembly for in the fan of
the same year in which he wrote the
above letter provision was made for
the issue Of $50, 900 to be applied to-
wards d~efraying the expense OF the
militia and Minute Men. for purchas-
ing arms and ammunition and pay
ing ountie for the encouragement OF
manufactures. expresses and other
contingencies EatcheS OF paper
money varying in quantity were emit
ted at irregular intervals during the
war which mountc in the aggregate
to approximately $4,000. 600. There
was some opposition to the issuing of
b1lls of credit by men who COmpre-
hended the situation but, for lack Of
more efficient means of raising money,
1t was looked upon as Il necessary evil.
Usually a tax was laid on each poll
for the redemption of the issues but
as has been previously noted, the sink
ing funds were often applied to other
purposes thus breaking faith with the
public creditors, and running the credit
of the Colony. The issues were SO fire.
quent and copious that the paper
money rapidly deprecated. and the
bars We're let down to all the conse-
quent evils. The acquisitions of the
Continental Congress were paid in the
State currency but the credit given
the commonwealth in specie, which
was the common denomination for al
the States, was only a fraction of the
face value of the paper money paid
In.
During the first few years Of the
Revolution. paper money was relied
upon almost entirely for supplying
the means for prosecuting the a but
by 1879 this system was rapidly break
ing down. IN his year Congress
passed several resolutions against
further emissions of bills of credit,
and recommended to the States that
this expedient be not employed in the
future. People were awakening to the
fact that the struggle could not be
carried on much longer without in
shutting a system of taxation.
In 1877 North Carolina, through its
representatives in the State legislature.
made provision for raising money by
a general property tax. 1t was pro-
vided that al lands and lots. with
their improvements, slaves, money.
money at interest, and stock in trade,
wherever the same may be all bonds,
notes. or other obligations FOR value
on interest, all horses and neat cattle.
in this State shall be held and deemed
taxable property liable to be assessed.
and the taxes laid thereon by law
Congress had recommended to the
Provincial Assembly that the State
measure up to the standard which
that body had fixed as necessary, but
a two pence tax for every pound of
valuation was considered all that cir
cumstances would permit. In 1878 this
amount was raised to three pence and
a proportionate poll tax was laid on
all Two years alter the
tax was again increased to four pence
in the pounds. Property belonging to
Moravians, Quakers. Menonists or
Dunkards was taxed min pence for
every pound of valuation az these
sects had embarrassed the Provin-
ciaI on several occasions be
cause of their religious scruples. In
1871 this was increased from nine
to twelve pence. An additional tax
of f15O was also levied on all single