These suggestions, however, with others less material to the military operations, did not receive the attention which was due to their importance.  A disposition in the members of congress, growing inevitably out of the organization of the government, to consult the will of their respective states, and to prefer that will to any other object, had discovered itself at an early period, and had gained strength with time.  The state of the national treasury was calculated to promote this disposition.  It was empty, and could be replenished only by taxes, which congress had not the power to impose; or by new emissions of bills of credit, which the government had pledged the public faith not to make, and which would rest for their redemption only on that faith, which would be violated in the very act of their emission.  Under these circumstances, it required a degree of energy seldom found, to struggle with surrounding difficulties for the preservation of a general system, and to resist the temptation to throw the nation at the feet of the states, in whom the vital principle of power, the right to levy taxes, was exclusively vested.  While the continental currency preserved its value, this essential defect of the constitution was, in some measure, concealed.  The facility with which money was obtained from the press, was a temporary substitute for the command of the resources of the country.  But when this expedient failed, it was scarcely possible to advance a single step, but under the guidance of the respective states.

[Sidenote:  Financial regulations.]

Whatever might be the future effect of this system, it was impracticable to bring it into immediate operation.  The legislatures of the several states, by whom it was to be adopted, and carried into execution, were, many of them, not then in session; and were to meet at different times through the ensuing spring.  It was consequently to be expected that great part of the summer would pass away before the supplies to be raised by the measure, could be brought into use.  In the mean time, and until a new scheme of finance, which accompanied the requisition of specific articles, should be tried, there was no regular provision for the army.  Bills to the amount of L100,000 sterling, payable at six months’ sight, were drawn on Mr. Jay, and others to the same amount, on Mr. Laurens, who were empowered to negotiate loans in Europe.  These bills were sold in small sums on pressing occasions; and the loan offices remained open for the purpose of borrowing from individuals.

This new scheme of finance was a second essay to substitute credit unsupported by solid funds, and resting solely on the public faith, for money.