MORRIS
MORRIS
5^^^*V7Z^
treak of the war he was a member of the com-
mittee of safety of Pennsylvania, and was on a
sub-committee charged with secretly importing
Arms and munitions for the Continental army.
In October, 1775, he was elected a member of the
Provincial assembly, and he was a delegate to the
^Continental congress, 1776-78. He was a member
of the secret commit- tee and of the com- mittee of secret cor- respondence, and was employed by congress to buy bills of ex- change or specie when it was needed. He was opposed to the Declaration of Independence and voted against its adoption on July 2, 1776, absenting him- self July 4. He how- ever signed the instru- ment with the other -members of congress. In November, 1776, he was ■elected a representative in the first state assembly but the dissatisfaction produced in the state by the adoption of the state constitution prevented the assembly from organizing until December. S.e was chairman of the committee to care for the affairs of Philadelphia from the advance of Howe across Nevv Jersey to the consequent ad- journment of congress to Baltimore, Dec. 20, 1776. He transacted most of the official business of the colonies during December and January, prepared the ships which belonged to the Revolutionists for jsea in order to prevent their capture, provided Wasliington with sums of money, managed the Accounts of the committees, took charge of the incoming cargoes and reported in full to congress And to Washington and Deane. Congress re- turned to Philadelphia March 4, 1777, but upon the capture of the city by Howe, congress adjourned to Lancaster, September 18, and held one session, September 27, and then adjourned to York, Pa., where it continued its session from Sept. 30, 1777 to June 27, 1778, with a greatly diminished mem- bership. The work of exporting American prod- ucts being abandoned, Morris removed to his ■estate at Manheim. He was a member of the committee sent to Valley Forge to inquire into the condition of the army and to urge Washing- ton to attack Howe in Philadelphia. He was a representative in the state assembly, 1778-79, and engaged very successfiilly in privateering during 1780, increasing his fortune to nearly two million dollars. In October, 1780, he was returned to the assembly. He opposed the issue of paper money, was a prime mover in establishing the Pennsyl-
vania Bank, June 8, 1780, heading the list of
subscribers with £10,000, and exerted himself to
secure the repeal of the embargo act. On Feb.
20, 1781, he was elected superintendent of finance.
When he entered upon his office in June the
treasury was in a state of great disorder, its only
resource being worthless bills of exchange drawn
on the envoys of the United States in France,
Spain and Holland. On May 17, 1781, he presented
to congress his plan for the establishment of the
Bank of North America, and on May 28 it was
PANK of- AJOf^TH^ AMERICA
irai •-
ICAH
«ANC£
approved by
congress, and
he published
an address in
which he set
forth the ne-
cessity and
prudence of
the measure'
His first sub-
scription to
the stock was
98 shares of
$400 each.
Morris was
called upon
to provide the
resources for
the dislodge-
ment of the English from New York. He bor-
rowed twenty thousand dollars from French
officers, which he repaid from the $470,000 w^hich
John Laurens brought from France. In Febru-
ary, 1782, France made another loan of $1,200,000,
and later in the year some income from taxes
began to be received. The Continental paper
money disappeared in 1781 and specie took its
place. Morris met with great opposition in the
south and was suspected of exporting tobacco
under government account for private advantage.
In January, 1783, a committee came from the army
officers to i)resent a complaint to congress that
the promises made to them had not been kept.
Morris advised that a confidential committee be
appointed, and upon its assembly he explained to
them that he had largely overdraw-n on the
bankers in Europe and could draw no more with-
out the special approval of congress. This plan
congress agreed to, but refused to pass an impost,
preferring to borrow from France. Morris^ finding
himself unsupported by congress, resigned as
superintendent of finance. Congress was deeply
impressed by this move and placed an injunction
of secrecy on his letter of resignation, which was
not raised until Feb. 26, 1783. In April he was
requested to continue in office and to carry
through an issue of paper for the purpose of pay-
ing off the army. This he accepted and caused
