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Old May 18th, 2013 #51
Rick Ronsavelle
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http://www.rogershermansociety.org/caveat.htm



Forasmuch, as there have been many disputes arisen of late concerning the medium of exchange in this colony, which have been occasioned chiefly by reason of our having such large quantities of paper Bills of Credit on some of the neighboring governments passing in payments among us, and some of those governments having issued much larger sums of Bills than were necessary to supply themselves with a competent medium of exchange, and not having supplied their treasuries with any fund for maintaining the credit of such Bills; they have therefore been continually depreciating and growing less in their value, and have been the principal means of the depreciation of the Bills of Credit emitted by this colony, by their passing promiscuously with them; and so have been the occasion of much embarrassment and injustice in the trade and commerce of the colony, and many people — and especially widows and orphans — have been great sufferers thereby.

But our Legislature having at length taken effectual care to prevent further depreciation of the Bills of this colony, and the other governments not having taken the prudent care, their Bills of Credit are still sinking in their value, and have in fact sunk much below the value of the Bills of this colony.

Yet some people among us, by long custom, are so far prejudiced in favor of a sinking medium, and others not being really sensible of the true state of the case, are inclined to think that Bills of Credit on the neighboring governments ought to be a legal tender in payments in this colony for all debts due by Book and otherwise where there is no special contract expressly mentioning some other currency, and others being of a different opinion, the disputes have been carried on so far as to occasion some expense in the law, and may be likely to occasion much more, unless prevented by those prejudices being some way removed. And since it is a cause wherein everyone is more or less interested, I have ventured to show my opinion, with a sincere desire to have peace and justice maintained and promoted in the colony. I do not desire any person to approve of my observations any further than he finds them agreeable to the principles of justice and right reason.


[Oops! Google Chrome could not find essay on money i]

[Links could be tried-- to see if they actually work- but that would ]

http://www.sonnet.com/usr/kidogo/witherspoon.html

Last edited by Rick Ronsavelle; May 18th, 2013 at 02:39 PM.