REVENUE SCHEME
\ɹˈɛvənjˌuː skˈiːm], \ɹˈɛvənjˌuː skˈiːm], \ɹ_ˈɛ_v_ə_n_j_ˌuː s_k_ˈiː_m]\
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A scheme proposed by the 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 Revolutionary debt. 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.
By John Franklin Jameson
Word of the day
Dopamine Acetyltransferase
- An enzyme that catalyzes the of groups from acetyl-CoA to arylamines. They have wide specificity for aromatic amines, particularly serotonin, and can also catalyze acetyl transfer between arylamines without CoA. EC 2.3.1.5.