In addition to this it was proposed that for the same period of time $1,500,000 annually should be raised by requisitions, and the definite amount for each State was specified until "the rule of the Confederation" could be carried into practice: It was then proposed that the article providing for the proportion of requisitions should be changed so as to be based not upon land values but upon population, in estimating which slaves should be counted at three-fifths of their number.

In the course of three years thereafter only two States accepted the proposals in full, seven agreed to them in part, and four failed to act at all.

Congress in despair then made a further representation to the States upon the critical condition of the finances and accompanied this with an urgent appeal, which resulted in all the States except New York agreeing to the proposed impost.

But the refusal of one State was sufficient to block the whole measure, and there was no further hope for a treasury that was practically bankrupt.

In five years Congress had received less than two and one-half million dollars from requisitions, and for the fourteen months ending January 1, 1786, the income was at the rate of less than $375,000 a year, which was not enough, as a committee of Congress reported, "for the bare maintenance of the Federal Government on the most economical establishment and in time of profound peace." In fact, the income was not sufficient even to meet the interest on the foreign debt.
In the absence of other means of obtaining funds Congress had resorted early to the unfortunate expedient of issuing paper money based solely on the good faith of the States to redeem it.