Signing Their Rights Away: The Fame and Misfortune of the Men Who Signed the United States Constitution

by Denise Kiernan

Within two years, the fledgling United States was on the verge of political collapse. The federal government had no power to tax people, goods, properties, or businesses. That may sound wonderful until you stop to consider all the consequences: The federal government had no revenue and issued no currency. There was no money for raising troops, building ships, or engaging in other activities vital to a nation’s self-defense. The country was vulnerable to attack and domination by a host of foreign powers. At sea, American vessels were pirated by foreign ships; their cargo and passengers were frequently held for ransom. On land, British and Spanish factions were arming Native Americans and encouraging them to raid American settlements on the edges of the frontier. States took matters into their own hands. Nine states had their own naval forces and pursued their own foreign policies. They imposed taxes on goods from other states as though they were dealing with foreign countries. There were no courts to decide disagreements between states. Private banks were issuing their own currency, but their notes were often distrusted and viewed as IOUs that might never be repaid. Doing business with other states was challenging if not impossible. Seesawing cycles of inflation and deflation were destroying lives. Foreclosures skyrocketed, and banks began seizing the homes of poor farmers with unpaid mortgages. Many wealthy landowners feared a bloody class revolution—or an all-out civil wa...

And so it begins.