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New York, New York County, New York
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Extract of a letter from Providence, RI, dated June 16, 1789, discusses Rhode Island legislature's debates on repealing tender laws for paper money, opposition from majority until state notes are canceled, skepticism about new revenue act as a ploy against federalism, and calls for withdrawing to the new federal government. Published in New York on July 1, 1789.
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Extract of a letter from Providence, (Rhode-Island) dated June 16, 1789.
"To obviate the difficulties that have occurred to you, and which indeed have been an objection with the majority to the repealing the tender laws, the minority would readily fall in with making an installment act, also to allow the paper to continue a tender for all executions, and the same footing with gold and silver, that is to say, a tender should not cancel the debt, but the interest should cease from the time such tender was made; but they declare they will not repeal, or make any alteration in the present law, till such time as all the State notes are carried into the treasury and cancelled; and they hold out to the people at large, the moment they break in upon the present system, they will be ruined, and that by their continuing firm, they will bring the others to terms: From this you will judge we have little or nothing to expect from our present rulers... We are informed, that the members of Congress are in general pleased with our new revenue act, and look upon it as a favorable symptom of federalism; but I can assure you this is not the case, and it is done with a view to amuse the people, and continue themselves in office a little longer, with the hopes it will be in their power to oppress the federalists, and embarrass the new government, which they are determined to do as much as possible; and unless Congress will adopt some decisive measures, there is little or no prospect of their calling a convention... They are adjourned till next October, when there will be a new choice... From the above statement of facts, you may judge, as we have nothing to hope from our present rulers, so we have nothing to dread from their resentment, were we to withdraw ourselves and claim the protection of the new government."
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Domestic News Details
Primary Location
Providence, Rhode Island
Event Date
June 16, 1789
Outcome
legislature adjourned till next october; no repeal of tender laws until state notes canceled; suggestion to withdraw to new federal government.
Event Details
Letter details debates in Rhode Island legislature where minority proposes installment act and continued tender status for paper money equivalent to gold and silver, but majority refuses changes until state notes are redeemed; criticizes rulers for opposing federalism and new government via revenue act; anticipates new elections in October.