Statement of Subscriptions to the Loan payable in Certificates or Notes issued by the respective States, in the several Loan Offices, from the 1st. of October 1790, to the 30th. of September 1791, Agreeably to the Act passed the 4th. of August 1790.35
|States||Amount assumed by the Act||Amount Subscribed36||Remaining unsubscribed to complete the amount assumed||Subscribed beyond the amount assumed||Estimated amount of the remaining debt of the State|
|Dollars||Dollars Cts||Dollars Cts||Dollars Cts||Dollars Cts|
|New Hampshire||300,000||242,501.25||57,498.75||100,000.00 (a)|
|Rhode Island||200,000||344,259.49||144,259.49||349,259.69 (c)|
|New York||1,200,000||1,028,238.75||171,761.25||195,639.79 (a)|
|New Jersey||800,000||599,703.56||200,296.44||207,647.78 (a)|
|North Carolina||2,400,000||1,166,355.57||733,644.43||713,192.30 (e)|
|South Carolina||4,000,000||4,634,578.52||634,578.52||1,965,756.33 (b)|
1. The sums marked (a) in the column of remaining debts, are inserted upon recent official communications.37
2. Those marked (b) are founded upon official statements, some time since received, and reported to the House of Representatives, on the ninth of January 1790,38 adding interest for the subsequent period.
3. Those marked (c.)39 are founded on informal information, but such as is deemed substantially authentic and accurate.
The estimate for Rhode Island including a sum not ascertained, which has been cancelled in consequence of former laws of the State, enjoying the creditors to bring in their certificates, and receive payment in paper money, but has been revived by a late law of the State, directing the sums paid, to be liquidated, according to a certain scale, and deducted from the original amount.
4. That marked (d) is founded on a report of a committee of the 11th. November 1791 to the House of Delegates of Virginia,40 compared with a former return to the Treasury, and other information.
5. That marked (e) is founded upon a statement of the Comptroller of North Carolina, of 20th. May 1790.41
6. That marked (f) is founded on a statement of the Treasurer of Georgia, of the 30th. of April 1790,42 compared with other information.
7. The sums, expressed in round numbers, is not meant to be understood as precisely accurate, but as very near the truth.
8. The foreign, as well as the domestic debt of the States, is included.
Secretary of the Treasury
35. See note 3.
36. In MS the word “unsubscribed” is used. The error was corrected in the copy in RG 39, Reports of Congress, Clerk’s Table, 1791–1792, National Archives.
37. The official communications from New Hampshire, Connecticut, and New York have not been found. For Pennsylvania, see Thomas Smith to H, October 14, 1791; for New Jersey, see Votes and Proceedings of the Sixteenth General Assembly of the State of New Jersey, At a Session begun at Trenton on the 25th Day of October, 1791, and continued by Adjournments (Burlington, 1791), 90.
39. A committee of the House of Delegates of Maryland reported on December 13, 1792, providing estimates of the outstanding and funded debt of that state (Votes and Proceedings of the House of Delegates of the State of Maryland. November session, 1791, Being the first session of this Assembly [Microfilm Collection of Early State Records, Library of Congress], 86–89).
A part of H’s information concerning the Rhode Island debt was contained in the memorial from Rhode Island which was referred to H on January 4, 1792 (see note 12). The “late law” of Rhode Island may be found in John Russell Bartlett, ed., Records of the State of Rhode Island and Providence Plantations in New England (Providence, 1865), X, 447–50.
40. See Journal of the House of Delegates of the Commonwealth of Virginia, Begun and Held at the Capitol, in the City of Richmond, on Monday, the Seventeenth Day of October, One Thousand Seven Hundred and Ninety-One (Richmond, 1791), 46–47.
41. Although no official report of the comptroller of North Carolina, Francis Child, has been found, a letter from Child to Samuel Johnston, Senator from North Carolina, dated May 20, 1790, states that Child enclosed an account of the outstanding state debt in his letter (ALS, Treasurer’s and Comptroller’s Papers, Correspondence of the Comptroller, 1790, State of North Carolina, Department of Archives and History, Raleigh).
42. Document not found.