Page:Debates in the Several State Conventions, v4.djvu/190

174 caused an order to be made through all the states not to pass any money bills whatever. The effect of this was, that our paper money appreciated. At the commencement of the war, our paper money in circulation was equal to gold or silver. But it is said that, on adoption, all debts contracted heretofore must then be paid in gold or silver coin. I believe that, if any gentleman will attend to the clause above recited, he will find that it has no retrospective, but a prospective view. It does not look back, but forward. It does not destroy the paper money which is now actually made, but prevents us from making any more. This is much in our favor, because we may pay in the money we contracted for, (or such as is equal in value to it;) and the very restriction against an increase of it will add to its value. It is in the power of the legislature to establish a scale of depreciation, to fix the value of it. There is nothing against this in the Constitution. On the contrary, it favors it. I should be much injured if it was really to be the case that the paper money should sink. After the Constitution was adopted, I should think myself, as a holder of our paper money, possessed of Continental security. I am convinced our money will be good money; and if I was to speculate in any thing, I would in paper money, though I never did speculate. I should be satisfied that I should make a profit. Why say that the state security will be paid in gold and silver after all these things are considered? Every real, actual debt of the state ought to be discharged in real, and not nominal value, at any rate.

Mr. BASS took a general view of the original and appellate jurisdiction of the federal court. He considered the Constitution neither necessary nor proper. He declared that the last part of the 1st paragraph of the 2d section appeared to him totally inexplicable. He feared that dreadful oppression would be committed by carrying people too great a distance to decide trivial causes. He observed that gentlemen of the law and men of learning did not concur in the explanation or meaning of this Constitution. For his part, he said, he could not understand it. although he took great pains to find out its meaning, and although he flattered himself with the possession of common sense and reason He always thought that there ought to be a compact be tween the governors and governed. Some called this a