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Research Results For 'Revenue Scheme'

REVENUE SCHEME

The Revenue Scheme was a scheme proposed by the American Continental Congress, in order to enable it to meet its money obligations. Requisitions upon the States, the only mode allowed to Congress by the Articles of Confederation,, had proved a failure. In 1781 Congress proposed an amendment to the Articles, whereby it would be empowered to levy a five per cent duty on imports, to pay the debt accrued fighting the War of Independence. Rhode Island refused her assent. In 1783 Congress asked for this power for only twenty-five years. After many delays, New York refused in 1787, making impossible that unanimous consent which was necessary in order to validate an amendment to the Articles. Then the only plan was that of a Constitutional Convention.
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