to 1787. CHAP. II. passed on that subject, and the circular letter 1783 which accompanied them to the several governors, contain arguments which ought to have demonstrated to all, the constitutional obligation of a treaty negotiated under the authority of congress, and the real policy, as well as the moral duty of faithfully executing that which had been formed with Great Britain. To the infinite mortification of those who respected the character of the nation, these earnest representations did not produce all the effect which was to have been expected from them. "It was impolitic and unfortunate, if not unjust in those states" said general Washington to a member of congress by whom the objec. tionable conduct of America was first intimated to him, "to pass laws which by fair construction might be considered as infractions of the treaty of peace. It is good policy at all times to place one's adversary in the wrong. Had we observed good faith, and the western posts had been withheld from us by Great Britain, we might have appealed to God and man for justice.* "What a misfortune it is," said he in reply to the secretary for foreign affairs, "that the British * The following is an extract from a letter on the same subject. "From the acknowledged abilities of the secretary for foreign affairs, I have no doubt of his having ably investigated the infractions of the treaty on both sides.... Much it is to be regretted however, that there should have been any on ours...We seem to have forgot, or never to have learnt, the policy of placing one's enemy in the wrong...Had we observed good faith on our part, we might have told our tale to the world, with a good grace, but complaints ill become those who are found to be the first aggressors." 1783 should have so well grounded a pretext for their CHAP. IL palpable infractions, and what a disgraceful part, out of the choice of difficulties before us, are we to act!" to 1787. The discontents and uneasiness, arising in a great measure from the embarrassments in which a considerable number of individuals were involved, continued to become more extensive. At length, Rise of two great parties were formed in every state, United which were distinctly marked, and which pursued distinct objects, with systematic arrangement. The one struggled with unabated zeal for the exact observance of public and private engagements. By those belonging to it, the faith of a nation, or of a private man was deemed a sacred pledge, the violation of which was equally forbidden by the principles of moral justice, and of sound policy. The distresses of individuals were, they thought, to be alleviated only by industry and frugality, not by a relaxation of the laws, or by a sacrifice of the rights of others. According to the stern principles laid down for their government, the imprudent and idle could not be protected by the legislature from the consequences of their indiscretion; but should be restrained from involving themselves in difficulties, by the conviction that a rigid compliance with contracts would be enforced. They were consequently the uniform friends of a regular administration of justice, and of a vigorous course of taxation which would enable the state to comply with its engagements. By a natural association of ideas, they were also, with very few exceptions, in parties in the t9 CHAP. II. favour of enlarging the powers of the federal 1785 government, and of enabling it to protect the 1787. dignity and character of the nation abroad, and its interests at home. The other party marked out for itself a more indulgent course. Viewing with extreme tenderness the case of the debtor, their efforts were unceasingly directed to his relief. To exact a faithful compliance with contracts was, in their opinion, a measure too harsh to be insisted on, and was one which the people would not bear. They were uniformly in favour of relaxing the administration of justice, of affording facilities for the payment of debts, or of suspending their collection, and of remitting taxes. The same course of opinion led them to resist every attempt to transfer from their own hands into those of congress, powers which by others were deemed essential to the preservation of the union. In many of the states, the party last mentioned constituted a decided majority of the people; and in all of them, it was very powerful. The emission of paper money, the delay of legal proceedings, and the suspension of the collection of taxes, were the fruits of their rule wherever they were completely dominant. Even where they failed in carrying their measures, their strength was such as to encourage the hope of succeeding in a future attempt; and annual elections held forth to them the prospect of speedily repairing the loss of a favourite question. Throughout the union, the contest between these parties was periodically revived; and the public mind was perpetually agitated with hopes and fears on subjects which essentially affected the CHAP. II. fortunes of a considerable proportion of the society.. These contests were the more animated, because, in the state governments generally, no principle* had been introduced which could resist the wild projects of the moment, give the people an opportunity to reflect, and allow the good sense of the nation time for exertion. This uncertainty with respect to measures of great importance to every member of the community, this instability in principles which ought if possible to be rendered immutable, produced a long train of ills; and is seriously believed to have been among the operating causes of those pecuniary embarrassments, which at that time were so general as to influence the legislation of almost every state in the union. Its direct consequence was the loss of confidence in the government, and in individuals. This, so far as respected the government, was peculiarly discernible in the value of state debts. The war having been conducted by nations in many respects independent of each other, the debts contracted in its prosecution were due, in In the constitution of Maryland, the senate was elected in such a manner as to bring a great proportion of character, wealth and talents into that branch of the legislature, and its duration was six years, during which vacancies in their body were filled up by themselves. A great majority of the house of delegates, declared in favour of paper money, but the bill was rejected in the senate. Each party made great exertions at the ensuing elections, and those against paperemission obtained the victory. 1783 to 1787. CHAP. II, part from the United States, and in part from the 1783 individual states who became immediately res1787. ponsible to the creditors, retaining their claim to against the government of the union for any balances which might appear to be due on a general settlement of accounts. That the debt of the United States should have greatly depreciated will excite no surprise, when it is recollected that the government of the union possessed no funds, and, without the assent of zealous and independent sovereigns, could acquire none, to pay the accruing interest: but the depreciation of the debt due from those states which made an annual and adequate provision for the interest, can be ascribed only to a want of confidence in governments which were controled by no fixed principles, and is therefore not entirely unworthy of attention. In many of those states which had repelled every attempt to introduce into circulation a depreciated medium of commerce, or to defeat the annual provision of funds for the payment of the interest, the debt sunk in value to such a degree, that those creditors who were induced by their necessities, or want of confidence in their rulers, to transfer their public securities, were compelled to submit to a loss of from ten to sixteen or seventeen shillings in the pound. However unexceptionable might be the conduct of the existing legislature, the hazard from those which were to follow was too great to be encountered without an immense premium. In private transactions, an astonishing degree of distrust also prevailed. The bonds of men whose |