The Pennsylvania packet, or, The general advertiser — Lancaster, Pa.;Philadelphia, Pa., 1780-01-20 00:00:00, page 1

The HIGHEST PRICE
IS GIVEN FOR
CLEAN LINEN RAGS,
B Y
JOHN D U N L A P.
TO BE SOLD BY
JOHN D U N L A P,
/(Bound or unbound )
ANY QUANTITY OF
DILWORTH'S SPELLING BOOK,
Printed on fine strong paper and a new type.
N. B. Those who buy by the thousand shall have a
large allowance.
On FRIDAY the xift of January inst. will be fold
at Public Vendue, at the Continental Magazine of
Proviso ;,, on Bickley's Wharf, near Maiket-ft reit
in this city,
A QUANTITY ofBEEF and PORK, some
dryed HERRINGS, dry CLAM S,
BEANS, and SOUR BEER. The sale to begin
precisely at Ten o'clock in the morning, and the money
to be paid on the fp©t.
Philadelphia, January 18.
TO BE S O L D,
At the Continental Navy Store, (the firft (tore to the
northward of Willing and Morris's wharf,)
A QUANTITY of
Mufcovado SUGAR, and COFFEE,
Which will be fold by the single barrel, to accommo
date the inhabitants.
Also, a QU ANTITY of
WRITING PAPE R.
JAMES LANG and Co.
Have for SALE, at their house in Market-street, be
tween Fifth and Sixth-streets, Philadelphia,
A QU ANTITV of imported and home-made
Seine Twine, Cordage, dressed Hemp, Flax, &c.
Rum, Brandy, Sugars, Pepper, Coffee, &c. Also a
chest of choice Buhea Tea. 2
Philadelphia, ]anua r y 14.
AL L persons indebted to the estate of the
Rev. Doctor Francis Alison, late of this city,
deceased, are requited to make immediate payment ;
and those that hav« any demands ^gaintt the estate, are
dtfired to bring in their accounts to bare them fettled
and paid. HANNAH ALISON,
MARY ALISON, ] Lxecuto?ms
ROBERT SMITH,]
WILLIAM RUSH,)° x ' cl "° rs
The Widow of Doctor Alison would be obliged to the
Gentlemen that borrowed book#, to return them.
A valuable Plantation, well improved, on the weft
branch of Susquehanna, a few miles from Sunbury, to
be fold.
STRAYED AWAY about two weeks ago, a
dark brown C O W, having her right horn broke
off. Whoever has taken up said Cow and will bring her
to the fubferiber, shall have the above reward.
HENRY KEPPELE, Jun.
STOLEN last evening, from the sign of the Ship,
on the Lancaster Read, a forte! GELDIN G,
seven years old, fourteen and a half hands high, with a
star in his forehead, a feather on both sides of his head,
long sided, switch tail, some laddie marks, and food all
round; also a good faddie with jointed stirrups, a lea
ther furcingie, and a fm-ffle bridle ; fuppefed to be ta
k n by a certain James Warran, who fays he his been
privateering ; he is a young man, about five feet eight
inches high; had on a round hat with an ostrich feather
in it, a light c loured great coat with a small red cape
and buttons to the fieeves, hi# other cloaths not parti
cularly known. Whoever takes up and secures said
gilding, with the saddle, bridle and thief, so that the
thief may he brought to juftict and the owner get his
horse, saddle and bridle again, shall receive the above
reward, or without the thief One Hundred Dollars,
id reasonable charges, paid by
JAMES REE D,
Near the above place.
Philadelphia, January 8.
THIRTY DOLLARS REWARD.
^ti#
GENERAL
January 12, 1780.
Three Hundred Dollars Reward.
THURSDAY,
O R
[ Published every Tuesday, Thursday and Saturday. ]
The FIRST VOLUME of the
UNITED STATES
MAGAZ I N E,
Is just published and to be fold by
FRANCIS BAILEY, Printer,
In Market street, three doors weft of the Post Office ;
Who has for SALE,
A LARGE quantity of Writing Paper, Ktyfer's
Pilis, &C.
Philadelphia, January 14.
BY virtue of a writ of Venditioni Exponas, to me
the fubferiber directed, will be fold by public ven
due, on Saturday the sth day of February next, at Eleven
o'clock in the forenoon, at theCoffee-hou fe, about 1 % acres
of land in Oxford township, on Frankford Creek, about
five miles from Philadelphia, confining ®f about three
acres of meadow and about nine acres of upland, join
ing Abraham Bufoy, William Busby, and the mill land:
Also about ten acres of upland, being a field joining
Isaac Busby, William Busby, and Abraham Busby, in
said township: Also one half of an orchard near Abra
ham Busby's house, containing about three or four acres;
of the two last of which estates the defendant, Mary
Busby, has only the use during all the term of her natu
ral life. Seized and taken in execution as the estates of
Mary Busby, zt the suit of Hannah Busby and Sarah
Dilworth, by
JAMES CLAYPOOLE, Sheriff.
WAS taken up by the fubferiber, living in
Oxford Townihip, Philadelphia County, about
the seventeenth of April, 1778, near the 7 mile stone on
the B ifto! Road, a black MARE, with a tear in her
forehead, about fourteen hands high, ten years old.
The owner is desired to come, prov^ property, pay
charges and take her away, or she will be fold accord
ing to law, by
NICHOLAS STAUTTS.
WHEREAS the United Company of Phi
ladelphia for promoting American Manufac
tures, hath been some time dissolved, and a final divi
dend fettled, of which public notice was then given, and
the Trvafarer directed to pay the fame $ And Whereas
m?ny of the Proprietors have probably forgotten that
they were fubferiber# to the said Institution, a lift is now
published of the names of those to whom dividends are
still due. Such as have a star affixed to the name have
shares of good# to receive in addition to the final dividend.
The fubferiber would be much obliged to the Proprie
tors, or their representative# in town, if they would call
or fend for their refpe&ive shares, that the books may
be closed. RICHARD WELL S,
Arch- street, Philadelphia
William Alien,
John Appowen, *
William Adcock,
Andrew Alien,
Elias Boys,
Robert Bridges,
Joseph Budd,
William Bradford,
Owen Biddle,
John Bayaid,
John Ben-zet,
Alexander Bertram,
William Ball,
John Bull,
Abraham Bickley,
William B> own,
James Biddle, *
George Bartram,
James Cannon,
John Chaloner,
Joseph Cauffman,
John Cadwalader,
Nathan Cooke,
William Craig,
John Cox,
Andrew Caldwell,
Isaac Cortes, *
Lambert Cadwalader,
Joseph Dean, *
Sharp Dulany,
John Dickinson,
John Evans,
David Franks,
Isaac Gray,
Casper Gryer,
John Galloway,
Nicholas Garrifcn,
Benjamin Harbefon,
Richard Humphreys,
Levi Hollingfworth,
Robert Hardie,
Samuel Howell,
James Hunter,
,tf«w;w^^^ff'%„m?^^ wr^a
THE
Michael Hidegas,
Joseph Hillburn,
William Jackson,
Daniel Joy,
Reynold Keen,
Peter Z. Lloyd,
John Lownes,
William Martin, *
Joseph Moulder,
Jacob Morgan,
Samuel Miles,
Jonathan Mifflin, jun.
John Morton,
Joseph Mifflin,
Samuel Mifflin,
Thomas Mason,
John M. Nefbitt,
John Purviance,
Suphvn Palchall,
Edward Pole,
Peter Paris,
John Pringle,
Jbn Pirkerton,
William Ross,
John Roberts,
Maurice Rodgers,
Samuel Simpson,
John Scotton,
Wiliam Shute,
Robert Smith,
William Sellers,
Thomas Shoemaker,
lames Sterling,
Robert Stevenson,
Thomas Smith,
Jacob Wing,,
John Wood,
Samuel Wetherill, jun.
Joseph Wallace,
Thomas Wharton, *
John Warder,
Richard Willing.
^BWW^^^
ADVERTISER
LETTERS on A PPRECIATI O N.
No. I.
TO meddle with the fubje& of the Currency, was long
deemed a matter of the highest imprudence ; and
though all saw and felt its decline, few had the har
diness publicly '0 declare it. But the depreciation became,
at length, an objed of such magnitude, and was so inti
mately connected with every movement, both political
and military, that every eye became familiarized to it.
The laws acknowledged it, and the news papers, in suc
cessive essays, proclaimed it aloud. Various have been
the schemes for remedying the evil ; and appreciation,
appreciation, has been the cry from one end of the Conti
nent to the other. Tocombat the general voice, may be
thought to favour of either folly or vanity. But as no in
jury can now happen to the public, from even torturing
the fubjeft, into every shape, lam willing to rifque the
imputation ; and venture on the ocean of finance with my
little bark. Am ocean, much of which remains unexplo
red, and in which fog banks and islands of ice are often
mistaken for laiid. , If I perish with my little visionary
crew by the falling of some mighty projecting promonto
ry, future voyages must beware of my fate.
It may be necessary to premise, that in the sundry cal
culations which I may take occasion to exhibit, I shall
generally make use of whole numbers; as the nature of
the fubjeft precludes accuracy.
By the revives of Congress in January 1779, it appears
they had emitted 123 millions of dollars. And in Sep
tember following, in their circular letter, they state the
amount expended, to be about 160 millions; and then
proposed continuing the emissions till they should reach
zoo millions, exclusive of 33 millions borrowed on inte
rest. I presume the said 200 millions are now compleat
ed; for if in 8 months (viz. from January to September)
the expences were 37 millions, when depreciation was on
the general average ^ 1-2 for 1, the remaining 4 months
would undoubtedly consume 40 millions ; because the ave
rage depreciation since September, has been 35 t^ for 1.
During the two firfi emissions of 3 millions each, the
money I believe continued at par, no adual diminution
of value having taken place. How the depreciation has
since gone on, may be seen by a table I shall fubjein 10
this letter, taking gold for the fiandard ; which, by th#
bye, has ever been behind every other commodity in ad
vance of price. As we have no account of the quantities
of all the several emissions, or the dates at which they were
actually issued, it is in the breast of Congress alone, to de
termine with precision, how far the depreciation has kept
pace with the quantity, and from thence in force measure
to afeertaio, whether the quantity alone, or some other
concomitant eaufes, have produced the effect Was Ito
judge from mere conjeaural appearances, I fliould fappofa
the value of money has been principally affeßed by its re
lative quantity, when compared with thequantity of com
modities for sale. Fer instance, if 10 millions of dollar#
at 7/6 each were fufficent for a medium of trade, when
we had 40 millions of faleables, and we should at any time
have 200 millions of dollars, I should suppose money
would be depreciated as 20 to 1, because, not being of
intrinsic value, or capable of exportation, there would be
20 times the number of bidders for every article on sale
(for money is in fad the buyer or bidder) and of course,
the possessors of money, could as well afford to give 20
prices for an article, as they could formerly to give one
price But if the quantity of faleables should be reduced to
one half, or 20 millions, I should then fay that the depre
ciation was equally 4® for 1 ; because there was 40 times
as much money as was necessary for a medium. This I
presume is plain reafonin, . But to come nearer to the
matter of fad. I must observe that, from the best infor
mation I have been able to collect, the current money of
America formerly, never exceeded 16 millions of dollars;
when the value of merchandize might be estimated at about
45 millions.
I fancy it will be readily allowed, that we have not at
present above one fourth part of the quantit; of faleables
which we had formerly, consequently not much above e
leven millions in value. Then if sixteen millions of money
conduded the business of forty-five millions of faleables
How much is necessary to negociate eleven millions > the
answer is, about f®ur millions. And this proportion of
money will be deemed very Efficient, if we recoiled, that
fix millions of running cash served the whole business of
England, in Sir William Petty's time, when the faleables
amounted to forty two millions and a half. Now as we
have of Continental money about two hundred millions
at a time when four millions would answer the purpose it
is evident there is fifty times as much as is necessary, and
the money is in fad depreciated to fifty for one. Ido not
bring land into the account of faleables, as the amount
would be too uncertain to attempt ; but I should suppose
the local emiffion# of the several States, together with thd
value of Loan-Office money issued under the denominati
on of Certificates, may be deemed fully to counterbalance
any allowance for the sale of real estates; especially when
we reflect, that very considerable Loans have been made
since the thirty-three millions mentioned in September.
JANUARY 20, ifo
T H E