Note 109 — Financial History 1751-1790.

132In addition to the taxes specifically levied for continental purposes the state before June, 1779, has paid to the U. S. out of state taxes £30,000 in accordance with the requisition of congress made in November, 1777. The £6,000 tax in May, 1781, was to redeem one sixth of the new continental money issued by the state. £8,640 of the tax of June, 1783, was appropriated to pay interest on the United States debt. Of the tax of June, 1784, one fourth was to be paid in United States interest certificates, and £12,147-6-4 was appropriated to meet a requisition of congress of the previous April. The whole of the tax of June, 1785, was afterwards appropriated to pay the interest on the national debt. But little coin seems to have been received, taxes probably being paid in evidences of debt. Two facts should be remembered. 1. These taxes, particularly those assessed after the close of the war, were not promptly paid. 2. The war expenditures of the state itself were regarded as national expenditures, the accounts between the state and the central government to be settled in the future.