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

By James R. Morrill | Go to book overview

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.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
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.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

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

Table of contents

  • Title Page iii
  • Contents vii
  • Part I North Carolina State Finance 1
  • I. the North Carolina Economy 3
  • Ii. the Domestic Debt 15
  • Iii. Emission of Currency 57
  • Iv. North Carolina's Foreign Debt: the Obligation to Martinique 100
  • Part II State-Federal Financial Relations 125
  • V. the Political Implications 127
  • Vi. Settlement of State and Individual Revolutionary Accounts 132
  • Vii. Payment of the Continental Line 169
  • Viii. Congressional Revenue 191
  • Ix. Conclusion 215
  • Selected Bibliography 221
  • Index 229
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
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?

Help
Full screen
/ 242

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    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.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    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.