re acts of the sovereign authority, which have been obeyed by
some, if not by all, and therefore those who have obeyed ought not to
suffer by their obedience. They are acts for the redemption of bills
issued by that sovereign, and they have formed the standard of public
opinion with respect to those bills. If, therefore, for argument's
sake, it were admitted, that the measure was impolitic and unjust,
yet, now that it has taken place, there would certainly be both
injustice and bad policy in altering it. The respective States have
either obeyed it in the whole, or in part, or have totally neglected
it. The first have a right to insist upon a compliance with it. The
second must have so far accommodated themselves to it, as that
interior mischiefs would arise from changing the system. And the last,
whatever may be their claim to superior wisdom, will at least
acknowledge, that the precedent of disobedience once established, our
Union must soon be at an end, and the authority of Congress reduced to
a metaphysical idea. Besides, the claim of such States must ultimately
rest on the foundation of their own neglect; and as this will always
be in their own power, it will be sufficient to rear any argument for
any purpose.

By the resolutions of the 18th of March, 1780, ten millions of dollars
of new paper were to have been issued, whereof four millions were to
be at the order of Congress. By the resolutions of the 26th of August,
1780, three millions more were demanded. By the resolutions of the 4th
of November, 1780, besides the specific supplies, an additional demand
was made of one million, six hundred and fortytwo thousand, nine
hundred and eightyseven and two thirds dollars in money; and by the
resolutions of the 16th of March, 1781, six millions more are
required. These sums amount in the whole to fourteen millions, six
hundred and fortytwo thousand, nine hundred and eightyseven dollars
and two thirds. A very small part of this sum has yet been paid; but
admitting that there may have been circulated by the United States two
millions, six hundred and fortytwo thousand, nine hundred and
eightyseven dollars and two thirds, twelve millions would still remain
due. If from this we deduct the whole of the new emissions, it would
leave a balance of two millions. I propose, therefore, the following
plan.

1st. That no more of these new emissions be used on any pretence.

2dly. That as fast as the old Continental money is brough