780, will stand thus; by the resolutions of the 22d of
November, 1777, there is payable as follows.

dollars. ninetieths.
January 1st, 1778, 1,250,000 dollars,
equal to 857,222 20

April 1st, 1778, 1,250,000 dollars,
equal to 621,423 55

July 1st, 1778, 1,250,000 412,864 52 4

October 1st, 1778, 1,250,000 268,472 2

By the resolutions of January 2d,
1779, and May 21st, 1779, there
is payable by January 1st, 1780,
60,000,000 dollars, equal to 2,042,500

By the resolution of October 6th,
1779, payable by February 1st,
1780, 15,000,000, equal to 451,041 60

March 1st, 1780, 15,000,000, equal to 401,450 30
---------- ----
5,054,982 39 4

Thus the whole demand made on the States, from the beginning of the
war to the 1st of March, 1780, is but little more than five millions
of dollars. And yet this demand, moderate as it is, has not been
complied with.

By the various resolutions of Congress on the subject of requisitions
it is provided, that interest at six per cent shall be charged on the
sums due, and allowed on the sums paid. The sums paid do, in no
instances, amount to the value of the demand, but each State has an
account against the Union for advances, by supplies furnished of
various kinds, and by payments made to militia. As no taxes were laid
by the States, the sums they expended were procured partly from the
continental treasury and partly by the emission of State currency,
which tended to depreciate the continental paper, and impede its
circulation. A consideration of the mischiefs arising from this
circumstance will much diminish the merit, which is assumed from those
advances. If the State paper had not been issued, the same services
might have been performed by an equal sum of continental money, and
the general torrent of depreciation would then have swept away those
expenditures, which now exist as State charges. From hence it might in
strictness be inferred, that the continent should not be charged for
the amount of State paper advanced, and that amount be estimated at
its value when redeemed by the State, especially as Congress have not
only urged the States not t