FREE BOOKS

Author's List




PREV.   NEXT  
|<   116   117   118   119   120   121   122   123   124   125   126   127   128   129   130   131   132   133   134   135   136   137   138   139   140  
141   142   143   144   145   146   147   148   149   150   151   152   153   154   155   156   157   158   159   160   161   162   163   164   165   >>   >|  
which nothing but a national system of courts could cure. =Congress in Disrepute.=--With treaties set at naught by the states, the laws unenforced, the treasury empty, and the public credit gone, the Congress of the United States fell into utter disrepute. It called upon the states to pay their quotas of money into the treasury, only to be treated with contempt. Even its own members looked upon it as a solemn futility. Some of the ablest men refused to accept election to it, and many who did take the doubtful honor failed to attend the sessions. Again and again it was impossible to secure a quorum for the transaction of business. =Troubles of the State Governments.=--The state governments, free to pursue their own course with no interference from without, had almost as many difficulties as the Congress. They too were loaded with revolutionary debts calling for heavy taxes upon an already restive population. Oppressed by their financial burdens and discouraged by the fall in prices which followed the return of peace, the farmers of several states joined in a concerted effort and compelled their legislatures to issue large sums of paper money. The currency fell in value, but nevertheless it was forced on unwilling creditors to square old accounts. In every part of the country legislative action fluctuated violently. Laws were made one year only to be repealed the next and reenacted the third year. Lands were sold by one legislature and the sales were canceled by its successor. Uncertainty and distrust were the natural consequences. Men of substance longed for some power that would forbid states to issue bills of credit, to make paper money legal tender in payment of debts, or to impair the obligation of contracts. Men heavily in debt, on the other hand, urged even more drastic action against creditors. So great did the discontent of the farmers in New Hampshire become in 1786 that a mob surrounded the legislature, demanding a repeal of the taxes and the issuance of paper money. It was with difficulty that an armed rebellion was avoided. In Massachusetts the malcontents, under the leadership of Daniel Shays, a captain in the Revolutionary army, organized that same year open resistance to the government of the state. Shays and his followers protested against the conduct of creditors in foreclosing mortgages upon the debt-burdened farmers, against the lawyers for increasing the costs of legal proceedings, against th
PREV.   NEXT  
|<   116   117   118   119   120   121   122   123   124   125   126   127   128   129   130   131   132   133   134   135   136   137   138   139   140  
141   142   143   144   145   146   147   148   149   150   151   152   153   154   155   156   157   158   159   160   161   162   163   164   165   >>   >|  



Top keywords:

states

 

farmers

 

Congress

 

creditors

 

legislature

 

action

 

credit

 

treasury

 

tender

 

substance


longed
 

payment

 

forbid

 
fluctuated
 
violently
 
legislative
 

country

 
accounts
 

repealed

 

successor


Uncertainty

 

distrust

 

natural

 

canceled

 

reenacted

 

consequences

 

discontent

 

organized

 

resistance

 

Revolutionary


captain
 
malcontents
 
leadership
 

Daniel

 

government

 

increasing

 

lawyers

 

proceedings

 
burdened
 
mortgages

followers

 

protested

 
conduct
 

foreclosing

 
Massachusetts
 

avoided

 
drastic
 

obligation

 

contracts

 
heavily