the most bitter and angry contest ever known in Congress before or since the union of the states.[11]
- Thomas Jefferson, 1818
Opponents:
Most southern states — less debt and feared expanded federal power
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To say that the United States should be answerable for twenty-five millions of dollars without knowing whether the ways and means can be provided, and without knowing whether those who are to succeed us will think with us on the subject, would be rash and unjustifiable.[12] |
Absorption of revenue will certainly follow Assumption of debt— so that our state governments will have little else to do than eat drinke and be merry. |
[Assumption] will add strength and power to that faction that brought about the late 2d revolution [the Federal Constitution], and it will make their princely fortunes. |
Supporters:
Most New England states (and South Carolina) — significant debt
If Congress assumes the State Debts, Peace, Tranquility and a firm Government, will be the Result. if not, a weak, and an inefficient one, or perhaps no Government at all, may be the Consequence. The Choice lies before Congress--Honour, or Disgrace[13] - Amicus to John Adams, April 29, 1790
Newspaper Wars:
Pro-Funding/Assumption |
Anti-Assumption |