National Gazette

From the Boston Independent Chronicle.

Mr. ADAMS.

When the funding system was under consideration in Congress, and the patriotic MADISON, and others urged the propriety of a discrimination; in order to do justice to the original public creditors, some of those opposed to a discrimination, declared, that if any application was brought forward, by the late army for a compensation for their services, none would be more ready than they to support it ; and this was not only the language of some in, but also of many out of Congress ; who from their interested situation, might probably be opposed to a discrimination ; than which, no measure could have been more just and righteous.

It is unnecessary to recapitulate the solemn stipulations and promises of the government to their army, or their acknowledgement of the faithfulness of that army, these will remain on record, as long as the archives of our country shall endure. Nor is it necessary to repeat that a large proportion of the evidences of the dues of the soldier, were transferred to speculators, for a few shillings on the pound, because the government neglected to provide funds, for their proper security : And that the property so acquired by speculators, multiplied by a gain of from five to nine-hundred per cent. profit, by the funding system, has enabled the present possessors to figure away in the funds and banks, in public lands, and in a variety of other speculations, to a latitude surprising, even to themselves. But where are those men, who earned this property, at the peril of their lives-and have never yet received an adequate consideration therefor, either from the public, or from those who are enjoying of it ? Their hard earned dues, in many instances, they were compelled to dispose of for a trifle, to save themselves and their families from starving. What remained in their hands, at the time of funding, by the system, has a third part suspended from interest, for ten years ; and a further injury is done them by not paying them at the time of funding, but funding such interest at three per cent.-This was much more than enough, for those who had purchased certificates at 2s 6d on the pound. But to the original creditors, it was not only a real injury, but repugnant to the solemnly stipulated agreement made with them by government.

The members of the late army are now coming forward with memorials to Congress, in order to obtain that justice which has been solemnly and repeatedly promised to them; and which they feel confident their country, will never allow to be withheld from them. If upon investigation, it should appear that compensation, fully equal to the losses they have sustained, thro' the neglect of the government, cannot be made, without involving the community in much difficulty-can any honest man lay his hand upon his heart and say, that one third part of their dues can upon any principle of justice or equity, be suspended from interest for the term of ten years ; or that they ought not to receive the interest that was due to them to the time of funding ? The placing this third part on interest, and payment of the other reservation, will not add a single farthing to the public debt, solemnly contracted, and justly due; and it is presumed, that a wise and virtuous republic, will never wish to make a saving to itself, at the expense of the original public creditors-and from them alone, whose services and loans have been acknowledged in the most exalted strains that language can paint them.

I do not pretend to say, that this would be considered as a just compensation, by the sufferers themselves, but I will venture to say, as a member of the community, and as one bound to pay my proportion of the public debt, wherever it is found to be justly due, that if such a measure would give satisfaction, honor and justice, as well as sound policy and good faith, unite in favor of its being done ; and that so seasonably, as to insure its being done with some grace.

There are some who are already raising objections to the making compensation to the army, by suggesting that such a measure would open a wide field ; that others have as good claims to justice ; and that if the door be once opened, they will come forward, & we shall not know where to stop. This to be sure, is a very plausible objection, but can never have any great weight with those, who are just and honest, and mean to pay their just debts. If the public is as fairly, and by as solemn contracts, (yet unfulfilled) indebted to others, as to the late army, they are in duty bound to pay them : But this is no objection to the well founded claims of the army. And where can the public with more propriety, begin to do justice, than with those with whom they have so solemnly stipulated ; and who have through the neglect of the government, lost so large a proportion of their just dues ? which loss, by the funding system, have been sanctioned, to the aggrandizement of a few ; while the many losers of the same property, are subjected to pay in duties on the necessaries of life which they consume, a part of the fruits of their daily industry, to ensure the payment of the interest quarterly, on an unreasonable gain.

If this meritorious class of men, are to be left in this situation, without compensation, in some way or other, for their services and losses in the public service, can any man rationally expect, that peace and prosperity can long beam in our land. Square, if you can, ye champions of modern justice and policy, things so unequal with immutable right, or with that constitution which among other things, has been reared expressly to establish.

JUSTICE.

George Town, June 2, 1792.