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Portsmouth, Rockingham County, New Hampshire
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New York report on August 4: Senate passes bill for U.S. debt funding via new duties; Congress expected to adjourn soon; Funding Act signed by President; NY Governor convenes Council to advise on debt assumption and possible suspension of excise collection, potentially leading to earlier legislative session.
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Yesterday the Senate sent down the Bill, entitled, "An Act making further provision for the debt of the United States," and with it an estimate of the sum necessary to be raised this year, viz. 2,660,860 Drs. and 40 Cents--and the Ways and Means for raising it, viz. New Duties on Wines, Spirits, Tea, Coffee, Sugar, Pepper, Pimenta, Salt, Molasses, and an increase in ad valorem rates.
CONGRESS, it is thought, will adjourn in all next week. The Senate have several Bills to decide upon, which may soon be dispatched.
The motion to bring in a Bill or Resolution to suspend going to Philadelphia for two years--will probably be renewed--The prospect of success is, however, very faint.
THE FUNDING ACT
Was signed by The President of the United States, on Wednesday last.
His Excellency the Governor, on receiving information, that the Funding Bill had received the Presidential signature, and become a law, has taken the earliest measures for convening the Council--which, we are told, is to sit to-morrow. The object of this meeting, we understand, is, that the advice of the Council may be taken whether the ASSUMPTION of the debt of this State by the United States, as made in the Funding Act, is sufficient to justify his Excellency the Governor, in issuing his Proclamation for a cessation of the collection of the Excise; agreeably to an act passed the last session of the General Court.
It is supposed, that the result will be--a proclamation of his Excellency's for convening the Legislature at an earlier period, than that to which it now stands adjourned.
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Domestic News Details
Primary Location
New York
Event Date
Aug. 4
Key Persons
Outcome
funding act signed into law; governor convenes council to advise on debt assumption and potential cessation of excise collection; possible earlier convening of legislature.
Event Details
Senate passes bill for U.S. debt provision estimating 2,660,860 dollars and 40 cents to be raised via new duties on various imports; Congress expected to adjourn next week; motion to suspend move to Philadelphia unlikely to succeed; Funding Act signed by President on Wednesday; NY Governor convenes Council tomorrow to assess if federal assumption of state debt justifies halting excise collection per prior act.