Nathaniel Gorham to Henry Knox on the Federal Assumption of State Debt, 20 January 1790 PDF Download

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Nathaniel Gorham to Henry Knox on the Federal Assumption of State Debt, 20 January 1790

Nathaniel Gorham to Henry Knox on the Federal Assumption of State Debt, 20 January 1790 PDF Author: Nathaniel Gorham
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Languages : en
Pages : 0

Book Description
Discusses the issue of state debt, writing We understand here that Mr. Hamiltons report on finance was to be made on Thursday last - various are the conjectures on the nature of it. Many suppose that a proposal for the assumption of the State debts will make a part of it - The Antis generally and some Federalists who are under apprehensions for the support of the State Governments will be opposed to the assumption and the former have very generally circulated an idea that the People will be subjected to a very heavy and perpetual Land tax in consequence of it - This is a most powerful Engine with which to work and will if the consent of the States is necessary totally defeat the measure - I would therefore suggest to you - whether the plan may not be so constructed as to remove the fears of the People on that head... Signer of the U.S. Constitution.
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