121From James Madison to Thomas Jefferson, [ca. 11 February] 1790 (Madison Papers)
By the last mail I acknowledged the receipt of your favor of the 9th. Ult: and hazarded a few remarks on the subject of that of Sepr. last from Paris. The newspapers forwarded by me from time to time will have exhibited something of the complexion of the politics here, particularly as they relate to the public debt. On this subject the H. of Reps. is at this moment deliberating. All that can...
122Slave Trade Petitions, [11 February] 1790 (Madison Papers)
FitzSimons presented an address of the fall 1789 meeting of the Quakers of Pennsylvania, New Jersey, Delaware, and the western parts of Maryland and Virginia. Laurance presented one from the New York Quakers. These petitions urged Congress to consider measures leading to the abolition of the slave trade. A debate arose over a motion to refer the petitions to a committee. Mr. Madison. The...
123Discrimination between Present and Original Holders of the Public Debt, [11 February] 1790 (Madison Papers)
On 8 February the Committee of the Whole took up Secretary Hamilton’s report on public credit. FitzSimons submitted eight resolutions which served as a framework for the debate. The first declared “that adequate provision ought to be made for fulfilling the engagements of the United States, in respect to their foreign debt.” This passed unanimously. The second resolution called for “the...
124To Thomas Jefferson from James Madison, [ca. 11 February 1790] (Jefferson Papers)
By the last mail I acknowledged the receipt of your favor of the 9th. Ult: and hazarded a few remarks on the subject of that of Sepr. last from Paris. The newspapers forwarded by me from time to time will have exhibited something of the complexion of the politics here, particularly as they relate to the public debt. On this subject the H. of Reps. is at this moment deliberating. All that can...
125Slave Trade Petitions, [12 February] 1790 (Madison Papers)
A memorial from the Pennsylvania Abolition Society, signed by Benjamin Franklin and calling upon Congress to give its “serious attention to the subject of slavery” and to “step to the very verge” of its powers to discourage the slave trade, was read. Debate resumed on a motion to commit the Quaker petition that had been presented the previous day and read a second time on this day....
126From James Madison to Thomas Jefferson, 14 February 1790 (Madison Papers)
We proceed slowly in business. The Report of Mr. Hamilton has been, of late, the principal subject of debate. On the foreign debt the vote has been unanimous. On the domestic, a reduction of the transferred principal has been brought into view by several arguments and propositions. My idea is that there should be no interference of the public in favour of the public either as to principal or...
127From James Madison to Edward Carrington, 14 February 1790 (Madison Papers)
Letter not found. 14 February 1790. Acknowledged in Carrington to JM, 2 Mar. 1790 . Explains his motion in Congress to discriminate between the original and present holders of public securities.
128To Thomas Jefferson from James Madison, 14 February 1790 (Jefferson Papers)
We proceed slowly in business. The Report of Mr. Hamilton has been, of late, the principal subject of debate. On the foreign debt the vote has been unanimous. On the domestic, a reduction of the transferred principal has been brought into view by several arguments and propositions. My idea is that there should be no interference of the public in favour of the public either as to principal or...
129Discrimination between Present and Original Holders of the Public Debt, [18 February] 1790 (Madison Papers)
On 15 February the Committee of the Whole resumed consideration of JM’s amendment. JM listened silently for the next three days as numerous speakers attacked his proposal. Mr. Madison next rose and observed that the opponents of his proposition had imposed on its friends not only a heavy task, by the number of their objections, but a delicate one by the nature of some of them. It had been...
130Discrimination between Present and Original Holders of the Public Debt, [19 February] 1790 (Madison Papers)
Speaking against JM’s motion, Burke said that many officers and soldiers had received conspicuous marks of gratitude for their services, notably in appointments to civil offices. Mr. Madison. If paper, or the honor of statues or medals, can discharge the debts of justice, payable in gold and silver, we can not only exonerate ourselves from those due to the original holders, but from those of...
131Assumption of the State Debts, [24 February] 1790 (Madison Papers)
After the defeat of JM’s discrimination amendment, the second and third resolutions proposed by FitzSimons (on 8 February) were approved. The fourth resolution, “That the debts of the respective states ought, with the consent of the creditors, to be assumed and provided for by the United States,” had been under consideration for two days. Mr. Madison Observed, on the measure, that the...
132Assumption of the State Debts, [26 February] 1790 (Madison Papers)
JM’s amendment to the assumption resolution was still before the Committee of the Whole. On 25 February, White moved to confine the assumption to the surplus funds a state had “advanced beyond its just and equal proportion of the expences, incurred in the defence of the common rights of America.” After two days’ debate, this motion was defeated by a vote of 32 to 18. Mr. Madison Then begged...
133From James Madison to James Madison, Sr., 27 February 1790 (Madison Papers)
I have not yet recd. a single line from Orange since I left it. The letter from my brother when at Alexa. is the only written information that I have had the pleasure of, A few lines from Mr. Hite excepted. These gave me an account of my sisters marriage, and added that about that period my mother was better. I am anxious to hear more on that subject, and indulge my hopes that her health will...
134From James Madison to Walter Jones, 28 February 1790 (Madison Papers)
Letter not found. 28 February 1790. Acknowledged in Jones to JM, 25 Mar. 1790 . Reports recent illness.
135Assumption of the State Debts, [1 March] 1790 (Madison Papers)
The assumption resolution was still under consideration. Mr. Madison. The motion which yesterday I laid on the table, upon reflection I find to be out of order, as the principle was involved in the proposition, made by my colleague, (Mr. White) and decided against by the committee; I therefore withdraw it: But, I give notice that I mean hereafter to submit to the consideration of the...
136From James Madison to Henry Lee, 1 March 1790 (Madison Papers)
Letter not found. 1 March 1790. Acknowledged in Lee to JM, 13 Mar. 1790 . Probably relates to the defeat of JM’s discrimination amendment, the assumption debate, and Lee’s Potomac land speculation.
137Assumption of the State Debts, [2 March] 1790 (Madison Papers)
Before the Committee of the Whole resumed consideration of JM’s amendment to the assumption resolution, White moved “that the secretary of the treasury be directed to ascertain the resources that may be applied to the payment of the state debts, provided they should be assumed by the United States.” Gerry objected to the motion as reflecting unfavorably on the secretary—”the house ought to...
138Assumption of the State Debts, [3 March] 1790 (Madison Papers)
Carroll moved to discharge the Committee of the Whole from consideration of assumption. His purpose was to suspend the larger question until Secretary Hamilton reported (in consequence of White’s motion of 2 March) on the ways and means of paying the state creditors. Laurance suspected that the motion was intended to shunt the matter aside indefinitely. JM denied “that the motion was intended...
139From James Madison to Edmund Pendleton, 4 March 1790 (Madison Papers)
Your recommendation of Docr. Morrow was handed me some time ago. I need not tell you that I shall always rely on your vouchers for merit, or that I shall equally be pleased with opportunities of forwarding your wishes. The only act of much consequence which the present Session has yet produced, is one for enumerating the Inhabitants as the basis of a reapportionment of the Representation. The...
140From James Madison to Benjamin Rush, 7 March 1790 (Madison Papers)
Altho’ your last favour of the 27 Ult: does not require any particular answer, I can not let this occasional correspondence drop, without thanking you for so interesting a supplement to your former remarks on the subject lately decided in the House of Representatives. It not only gives me pleasure, but strengthens my conviction, to find my sentiments ratified by those of enlightened and...
141From James Madison to Thomas Jefferson, 8 March 1790 (Madison Papers)
The newspapers will have shewn you the late proceedings of the House of Representatives. The present subject of deliberation is the proposed assumption of the State debts. Opinions are nearly balanced on it. My own is no otherwise favorable to the measure than as it may tend to secure a final settlement and payment of balances among the States. An assumption even under such circumstances is...
142To Thomas Jefferson from James Madison, 8 March 1790 (Jefferson Papers)
The newspapers will have shewn you the late proceedings of the House of Representatives. The present subject of deliberation is the proposed assumption of the State debts. Opinions are nearly balanced on it. My own is no otherwise favorable to the measure than as it may tend to secure a final settlement and payment of balances among the States. An assumption even under such circumstances is...
143Report on Robert Morris’s Petition, [9 March] 1790 (Madison Papers)
That the Committee have enquired at the Register’s office into the state of the accounts of the department of Finance, lately administered by Mr. Morris. That, for the information of the House, a general account of the receipts and expenditures has been obtained from the Register, together with a printed Statement in detail, both of which are herewith reported, together with a paper containing...
144Public Debt, [10 March] 1790 (Madison Papers)
Secretary Hamilton’s report on the means of providing funds for the assumption of state debts was sent to the House on 4 March ( Syrett and Cooke, Papers of Hamilton Harold C. Syrett and Jacob E. Cooke, eds., The Papers of Alexander Hamilton (26 vols.; New York, 1961–79). , VI, 286–89). Debate resumed on 8 March; the next day the assumption resolution, as amended by JM’s motion of 24 February,...
145Public Debt, [11 March] 1790 (Madison Papers)
Debate continued on the second alternative of the sixth resolution (see headnote to speech of 10 Mar.). JM wished to reduce “the number of alternatives,” preferring “a simple, unembarrassed system.” A motion to drop this option carried by a vote of 32 to 23 (or 24). Jackson then moved to strike out that part of the third alternative making $66.67 of every $100.00 subscribed irredeemable by any...
146Public Debt, [12 March] 1790 (Madison Papers)
Laurance, objecting to Jackson’s motion (see headnote to speech of 11 Mar.), said that foreigners should be encouraged to speculate in the public debt. Mr. Madison said that foreigners speculating in our funds would induce a spirit of luxury. That the pernicious consequences of credit had been severely felt; that our experience did not justify the supposition that an influx of active property,...
147From James Madison to Edward Carrington, 14 March 1790 (Madison Papers)
Your favor of the 2d. inst: came to hand two days ago. Though I can not yield to the remarks on my proposition in the House of Reps. I am not the less indebted for the candor which dictated them. The nature of the domestic debt will account for the diversity of opinions among those who examine it. Those who are disinterested or being interested are superior to that biass, will be mutually...
148From James Madison to Edmund Randolph, 14 March 1790 (Madison Papers)
I have recd. the few lines you dropped me from Baltimore, and daily expect those promised from Fredg. I am made somewhat anxious on the latter point, by the indisposition under which you were travelling. The question depending at your departure was negatived by a very large majority, though less than stated in the Newspapers. The causes of this disproportion which exceeds greatly the estimate...
149From James Madison to Francis Taylor, ca. 14 March 1790 (Madison Papers)
Letter not found. Ca. 14 March 1790. On 2 Apr. 1790 Taylor noted in his diary: “Bro[the]r James sent a letter to me from the Honble James Madison Esqr which he got yesterday at his fathers” (Vi). Conjectured date based on evidence that JM wrote a number of Virginia correspondents on Sunday, 14 Mar. 1790.
150From James Madison to Benjamin Rush, 20 March 1790 (Madison Papers)
I recd. your favor of the 10th. instant some days ago. Altho’ I feel the force of many of your remarks, I can not embrace the idea to which they lead. It would not be consistent with the view I have taken of the subject; nor indeed promise any chance of success agst. the present politics of the House. The Petitions on the subject of Slavery have employed more than a week, and are still before...