Page:American History Told by Contemporaries, v2.djvu/626

From Wikisource
Jump to navigation Jump to search
This page has been proofread, but needs to be validated.
Crisis in Domestic Affairs

207. The State of the National Debt (1781)

This is a report made by a committee to Congress on April 18, 1781. It shows the bonded debt, French advances, certificates to contractors, outstanding claims, and the remnant of the paper money. The debt as here shown was honorably paid after 1789. The piece also illustrates the character of the records of Congress. — Bibliography as in Nos. 155, 185, 206 above.

THE committee, consisting of Mr. Duane, Mr. Sharpe, and Mr. Wolcott, appointed to estimate and state the amount of the debts due from the United States, with the necessary estimates for the current year, as near as can be done, in order that the same may be laid before the respective legislatures, report,

That they have attended to this business ; but from the unsettled condition of the publick accounts they can only give a general view of the publick debts.


By returns made to the board of treasury up to the 10th February, 1781, it appears that from the opening of the loan offices to the first day of March, 1778, there has been borrowed, the

Dollars Int. payable in bills on France An. Interest.
sum of 7,313,306 438, 7983910
From last February, 1778, to dates of last returns, 53,245,130, valued at 4,962,172 297,7302990
Amount of the bills of exchange drawn on commissioners and ministers at the court of France, for payment of three years interest, 1,316,394
Do. drawn on ministers at that and other courts for supplies, and to answer pressing emergencies on account of deficiency in the publick treasury 2,165,578
Supplies by them purchased and sent over, for which