?IO I?ECORD$ OF THE FEDERAL CONVENTION Thursday MADISON ?'l?gust x6 fresh in the public mind and had excited the disgust of all the respectable part of America. By withholding the power from the new Governt. more friends of influence would be gained to it than by almost any thing else- Paper money can in no case be necessary- Give the Government credit, and other resources will offer- The power may do harm, never good. Mr. Randolph, nothwithstanding his antipathy to paper money, could not agree to strike out the words, as he could not foresee all the occasions that might arise. Mr Wilson. It will have a most salutary influence on the credit of the U. States to remove the possibility of paper money. This expedient can never succeed whilst its mischiefs are remembered. And as long as it can be resorted to, it will be a bar to other resources. Mr. Butler. remarked that paper was a legal tender in no Country in Europe. He was urgent for disarming the Gov- ernment of such a power. Mr Mason was still averse to tying the hands of the Legis- lature altogether. If there was no example in Europe as just remarked it might be observed on the other side, that there was none in which the Government was restrained on this head. Mr. Read, thought the words, if not struck out, would be as alarming as the mark of the Beast in Revelations. Mr. Langdon had rather reject the whole plan than retain the three words "(and emit bills"). ?a On the motion for striking out N.H. ay- Mas. ay. Ct. ay. N-J. no. Pa. ay. Del. ay. Md. no. Va. ay.* N. C-ay. S.C. a 7. Geo. ay. [Ayes--9; noes -- 2.] The clause for borrowing money, agreed to nem. con. Adjd
- This vote in the affirmative by Virga. was occa$1oned by the acqulescence
of Mr. Madison who became satisfied that striking out the words would not disable the Govt from the use of public notes as far as they could be safe & proper; & would only cut off the pretext for a paper currency and particularly for making the bills a tender either for public or private debts. See Appendix A, CCIII.
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