the executive, an unbounded influence, which pervading every branch of the government, bears down all opposition, and daily threatens the destruction of everything that appertains to English liberty. The same causes produce the same effects! In an agricultural country like this, therefore to erect, and concentrate, and perpetuate a large monied interest, is a measure which your memorialists apprehend must in the course of human events produce one or other of two evils, the prostration of agriculture at the feet of commerce, or a change in the present form of foederal government, fatal to the existence of American liberty.
The General Assembly pass by various other parts of the said act which they apprehend will have a dangerous and impolitic tendency, and proceed to show the injustice of it as it applies to this Commonwealth. * * * Your memorialists turn away from the impolicy and injustice of the said act, and view it in another light, in which to them it appears still more odious and deformed.
During the whole discussion of the foederal constitution by the convention of Virginia, your memorialists were taught to believe "That every power not granted was retained," under this impression and upon this positive condition, declared in the instrument of ratification, the said government was adopted by the people of this Commonwealth; but your memoralists can find no clause in the constitution authorizing Congress to assume the debts of the states! As the guardians then of the rights and interests of their constituents, as sentinels placed by them over the ministers of the foederal government, to shield it from their encroachments, or at least to sound the alarm when it is threatened with invasion, they can never reconcile it to their consciences, silently to acquiesce in a measure, which violates that hallowed maxim: a maxim on the truth and sacredness of which the foederal government depended for its adoption in this Commonwealth. But this injudicious act not only deserves the censure of the General Assembly, because it is not warranted by the constitution of the United States, but because it is repugnant to an express provision of that constitution; this provision is "That all debts contracted and engagements entered into, before the adoption of this constitution, shall be as valid against the United States under this constitution as under the confederation,"
