The Practice and Politics of Fiat Finance: North Carolina in the Confederation, 1783-1789

By James R. Morrill | Go to book overview
Save to active project

VIII. Congressional Revenue

As the three immediately preceding chapters have disclosed, the settlement of individual civilian and military claims against the United States--the national domestic debt-- and the settlement of wartime accounts between the United States and the respective states possessed political as well as financial significance and together composed one of the two issues upon which state-federal relations centered. The second and related issue was, as previously indicated, the matter of securing revenue for the United States government, either through the requisition system employed under the Articles of Confederation or through direct tax powers secured for Congress by amendment of the articles. These revenue options contained primary political importance, for the requisition system maintained Congress' dependence upon the states whereas the establishment of congressional taxes would significantly strengthen the central government at the financial and political expense of the states. Federalists thus deplored the requisition system, but they had little choice except to employ it as an expedient until such time as their efforts to secure congressional tax powers should meet with success.1. The implementation of the requisition system and the struggle over the establishment of congressional taxes were, therefore, matters that proceeded simultaneously during the immediate postwar period.

The requisition system had been formally initiated in November, 1777, but, as previously revealed, North Carolina's own desperate financial needs--reinforced by disappointment

____________________
1.
E. James Ferguson, The Power of the Purse: A History of American Public Finance, 1776-1790 ( Chapel Hill: The University of North Carolina Press, 1961), pp. 116, 140.

-191-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited page

Bookmark this page
The Practice and Politics of Fiat Finance: North Carolina in the Confederation, 1783-1789
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 242

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?