The Pennsylvania packet, or, The general advertiser — Lancaster, Pa.;Philadelphia, Pa., 1780-06-06 00:00:00, page 2

n ACT far funding and redeeming the Bills of Credit
c the United States cf America, mid f or providing
means to bring the prefect war to an happy concluftoh.
XT HEREA S the Honorable theC ngrefs of the Uni
" ted States of America, by their AT,of the eightcen
i day of March last, have resolved and recommended
, toe several Stats in the words following^ that is to fay:
'btfe United-States having been driven into this just and
eceffu-y "ar, at a time when no regular civil governments
Are eftabhfhed, of fufficient energy to enforce the col
?Tion of taxes, er to provide funds for the redemption
f such Eids of Credit # s their necessities obliged them to
fine ; and bhorethe Powers ot Europe were fufficientiy
onvinced of the juilie oftheir cause, cr of the probable
vent of the controvert, to afford them aid or credit in
;onfeqnence of which, their Bills encreafing in quantity,
beyond the sum nee ifery for the purpose of a circulating
medium, and wanting at the fame time, fpeci^c funds to
red on tor, their redemption, they have feeri them daily
ink in value, notwithstanding every effort that has been
made to supp rt the fame, inferruch that they are new
paired by common consent in most parts ofthefe United
Sttes at lead thirty-nine fortieths below their nominal
value; anl still remain in a flale of depreciation, where
by the community filters great injustice, the public fi
nances are deranged, and the necessary dispositions for
the defence of the country, are much impeded and per
,lexcd ; and as effectually to remedy these evils, for
w ich purpose the United States are now become compe
t nt, their Independence being well assured, their civil
governments est blidied and vigorous, and the (pirit of
thet citizens ardent for exertions, it is necessary Speedily
to reduce the qnantityof the paper medium i& circulati
on, and to eflablifh and appropriate funds, that thall en
sure the punctual redemption of the Bills ; therefore :
Rest Ived, That the several States continue to bring in
to the Continental Trekfury by taxes, or otherwise their
full quotas of Fi teen million of dollars monthly, as a
ficned them by the resolution of the seventh day of OTo
br, One thousand seven hundred and seventy nine, a
clause in the resolve of the twenty third day of February
last, fcr relinqmfhng two thirds of the fail quotas to the
contrary notwithstanding; and that the Slates be forth
with called on to make provision for continuing to bring
into the said Treasury ther like quotas monthly, to the
month of April One thousand (even hundred and eighty
one inclusive :
That fiivi r and gold be receivable in payment efthe said
quotas, at the rate of one Spmifh milled dollar in the
1 eu of forty dollars, of the Bills now in circulation :
That the said Bills as paid in, except for the months
of January and February past, which may be necessary
for redifchar s e of past centrads be not reissued but def
tro,<d.'
That as faft as the fail Bill's shall be brought in to be
destroyed, and funds thall be efiabhfhtd as hereafter
mentioned, for oilier Bills be issued not to exceed on any
account one twentieth part of the nominal sum of the Bills
brought in to be defiroyed:
That the Bills which fall be issued be redeemable in
fpeJe within fix years after the present, and bear an in
terest at the rate of five per centum per annum, to be paid
also in (pecie at the redemption of the Bills, or the election
of the holder annually at therefpeTive Continental Loan
0 dices in flerhng Bids of Exchange, drawn by the United
States on their CommihiGners in Europeat four (hillings
and fix pence fieri ng per dollar.
That the said new Bills issue oh the funds of individual
States fcr that purpose eftab ifhed, and to be signed by
performs appointed by them; and that the faith of the Uni
ted States be also pledged for the payment of the laid
Bill, in case any State on whefe funds they shall be emit
ted, should by the events of war be rendered incapable
to redeem them, which undertaking of the United States,
and that of drawing B Ils cf Exchange for payment of in
terest as aforef id, shall be indorfed on the B Ils to be
emitted and signed by' a Commissioner to be appointed by
Congress for t at purpose.
That the face of the Bills to be emitted read as follows
viz. c
The peffeffor of this Bill fhrll be paid
Span th milled dollars by the thirty firft day of December
178^, with interest in like money, at the rate of five per
cent, per annum By the State of
according to an Aft ot the Legislature of the said Stateof
the day cf 1780,
And the indcriement shall be as follows viz.
The United States ensure-the payment of the within
Bill, a^d will draw Bills of Exchange for the interest ari
nully if demmaaded, according to a resolution cf Congress
of the eighteenth day of March, One thousand seven
hundred anl eighty.
That thefaid new Bill. ;fhall be flruck under the direc
tion ofthe Board of Treasury, in due proportion fcr each
State, according to their said monthly quota's, arid lodg
ed in the Continental Loan Offices in the refpeTive States,
where the Commiflioners to be appointed by Coogrefs,
in conjunction with such perlons as the refpeTive States
appoint, shall attends the signing of the said Bills, which
shall be completed no fafler than in the aforefaid propor
tion cf one to twenty of the other Bills brought in to be
destroyed, and which shall be lodged for that purpose
in the said Loan Offices.
Thatas the said New Bills are signed and complected,
the States refp^tvely on whole funds they issue receive
fix tenths of them, and that the remainder be fubjeT to
the orders of the United Stites, and credited to the States
on whole fund# they are issued, the accounts Whereof shall
be adjusted agreeably to the resolution of the sixth day of
Oftober, One thousand seven hundred and seventy-nine.
That the said new Bills be receivable in payment of the
said monthly quotas at the fame rate as aforefaid, of tpe
cie, the interest thereon, to be computed to the refpeTiye
States to the day th e payment becomes due.
That the refpeTive States be charged with such parts cf
the interest on the said Bills, as shall be paid by the Uni
ted States in Bills of Exchange, and the accounts threof,
shall be adjusted agreeably to the Resolution aforefaid, of
the sixth of October, One thousand seven hundred
and seventy-nine.
That whenever interest on the Bills to be emitted, shall
be paid prior to their redemption, fu^h Bills shall be
thereupon exchanged for others of the like tenor, to bear
date from th© expiration of the year for which such in
terest is paid.
That the several States be called on to provide fund's
for their quotas of the said new Bills, to be so productive
as to fink or redeem one sixth part of them annually, af
ter the 6rft day of January next.
That nothing in the foregoing resolutions shall be con
firued to ascertain the proportions of the expence incur
red by the war, whic Th State on a final adjustment
ought to be charged with; or to exclude the claims of
any Slate to have the prices at which different States have
furnifhed supplies for thearmy, hereafter taken into con
federation and equitably adju fled.
That the foregoing Resolutions with a letter from the
President, be difpatcbed to the Executive of the several
States, and that they be requeued to call their Assemblies,
if not already convened, as speedily as possible, to take
them into immediate confederation, to eftabdfh ample and
certain funds for the purposes therein mentioned, and to
take every other measure necessary to carry the fame into
full and vigorous affeT, and that they transmit their Ads
for that purpose to Congress, without delay.
ANDW HER EA S the depreciation of the Cur
rency of the United States, now in circulation, and the
{peculation which has taken place in confequep.ee thereof,
has opened a door to numerous frauds, and may operate
to the general injury cf virtue and morality, to the great
difhouotir of the State, uulefs timely prevented.'
AND W fl EREAS the profpeA of an appreciation
unless regulated on just and equitable principles, might
iikewife be followed by a train of evils as pernicious as
those we have already experienced, and not only encou
rage, but enable such persons as have obtained large fume
for (mail value, to derive an undue advantage therefrom,
and it being the duty of Government to 'prevent as far as
possible, the evils and dangersof a fluctuating medium of
commerce, and to fix and establish the value of such me
dium in such manner, that security and confidence may
be again introd need into commerce, and order and ©eco
nomy into the public expenditures.
AND WHEREAS the evils and inconveniences
hitherto attending the depreciation of the Currency of
the United States, have in a great measure been balanced
by a real reduction and dtfcharge of a very great part of
the national debt, in so much, that it would now be a
manifeft public ioju ftice, as Well as a burthen intolerable to
be borne, to tax the good people of this State, or of the
United States, to pay that part of the public dibt over
again, which by a kind of common ctnLnt has been dis
charged by the (aid depreciation , and as we are fully con
vinced, that in'eafe the measures recommended by Con
gress, in their Ad of the eighteenth day of March last, to
-the several States, shall be adopted by them, the Public
Credit will be established upon just and permanent prin
ciples, it is therefore incumbent on us to provide for
the execution thereof, so far as the fame concerns this
State.
Be it therefore enacted, and it is hereby enacted, by
the Representatives of the Freemen cf the Commonwealth
ol Pennsylvania, in General Assembly met, and by the
authority of the fame, That the monthly taxes on estates
real and personal, and on taxable persons, which are di
reded to be quotaed, assessed and levied throughout the
several counties of this State, in and by an AT of Assem
bly intitled "An AT for railing the sum ofTwo millions
five hundred thousand dollars monthly, during eight
months in the year One thousand seven hundred and eigh
ty, tor the supply of the Treasury of the United States of
America, and the Treasury of this Stat?,' 'p ffeJ on the
twenty sixth day of November last, shall be continued
from the end of the said eight months, for so long time as
shall be necessary, together with the said monthly taxes
already dirtied as aforefaid, to redeem the said Bills of
Credit of the United States of America, now in circula
tion to the amount of twenty-five Millions of Dollars ;
and that gold and silver and the new Blls of Credit here
in after mentioned, be received in payment of the said
monthly takes, after the rate of one milled dollar, in lieu
of forty of the said Bills of Credit cf the United States of
America, now in circu atiou, and that the Bills of Credit
last mentioned, when received in taxes, (except as to the
taxes of the month of January, and February last,)
be not again issued, but kept in the hands of the Treasu
rer of this State, to be cancelled and destroyed, and that
other and new Bills rede mable in fpecje, within fix
years, after the present year, bearing a yearly interest
of five per centum, payable also in specie, at the time of
redemption, or at the option of the holder annually, in
Serling Bi Is of Exchange, after the rateof Four Shillings
and sixpence Sterling per dollar, shall be emitted in the
manner and to the amount, if the fame shall be necessary
recommended by the Honorable Congress in their AT
aforefaid.
And it is hereby declared by the authority aforefaid;
That this House will as soon as convenient provide ade
quate funds for redeeming and cancelling the eighth part
of the said new B Ils of Credit, amounting to one million
two hundred and fifty thousand dollars, of the value of
four shillings and fix pence sterling each, or of so many
thereof as may be issued in manner aforefaid, together
with the interest thereon to accrue as aforefaid.
Provided always, and be it enacted by the authority
aforefaid, That nothing in this AT shall extend to estab
lish or continue beyond the tax for the month of Augufl
next, the apportionment and applotment of the said
monthly taxes according to the affi ffment thereof, with
in any township, diftriT or ward, made by virtue of an
Aft of Assembly intitled, " An AT for railing the ad
ditional sum of Five millions seven hundred thousand dol
lars, in the year One thousand seven hundred and seventy
nine," but the fame shall be reassessed within such town
ships, diftriTs and wards, on new returns of persons and
elates, to bedireTed and made for that purpose, in the
manner and under the penalties directed and provided, in
and by the AT of Affembi) last recited without altering
the quotas of the several counties or any of them, in order
tolevy the taxes by this AT, authorized to be taifed and
colleTedfor the month of September, and the months fol
lowing in an equal and just manner.
Provided also, That the tax on money d ; reTed to be
levied by said AT be difeontinued and cease.
And for perfecting the said Bills according so the true
intent and meaning of this AT, be it enaTed by the au
thority aforefaid, That thefaid Bills to be emitted in the
manner aforefaid, shall be signed by two of the persons
hereafter named, that is to fay, Michael Shubart, Daniel
Wifter, Levi Budd, Philip Ecehm, Robert Cather, Je
dediah Snowden, William Laurance Blair, John Miller;
John Knox, and Nathan Jones, who are hereby norti^
nated and appointed Signers thereof, and who (hall, be
fore they receive or sign any cf them, take an oath or af
firmation to the effeT following, that they shall attend,
and well and truly sign and number all such BOls, as shall
be deemed the proportion for this State agreeable to the
above rtf>lve, and each cf the said Signers shall have te^
millings for every thousand of the said Bills by them figu
ed and numbered, and no more.
And be it further enacted by the authority aforefaid.
That from and after the publication of this AT, if any
person or peifons shall, within this State or elftwherr,
prepare, engrave stamp, forge or print the counter
feit refemblaoce of any Paper Bills of Credit which shall
be issued, emitted and made in virtue of this AT, or shall
counterfeit or sign the name or name# of the tighter cr
signers of the said Bills of Credit, to such counterfeit Bills
of Credit, with an intention that such counterfeit Bills
of Credit, sh II be puffed in payments cr received as ge
nuine and good Bills, whether the fame be so pafftd or re
ceived or not, or if any p rfon or persons shall in this
State pass, pay or tender in payment, any such counterfeit
money, or deliver the fame to any person or persons with
an intention that they be passed, paid cr received as, and
for good and genuine, knowing tde fame to be forged or
counterfeited, every inch person being thereof legally cori
viTed or attainted in any Court of Oyer and. Terminer
within this State by yirdiT of a Jury,or cohfeffion of the
party offending or being indiTed thereof, shall (land, mute
or not direTly answer to the indiTment, or fh'ali , per
remptorily challenge more than the number or twenty
persons legally returned, to be of the Jury for thetrial of
such offender, shall be adjudged 2 felon and shall fufter
death, without benefit of Clergy ; and if any person
or persons, shall counterfeit any of the said Bills ot Cre
dit, by altering the denomination thereof, with defiga
to enrreafe the value of such Blls, or shall utter such
Bills, knowing them to be so counterfeited or altered as
aforefaid, and (hall be thereof conviTed, in any Court of
Record in this State; such perft n or persons shall be fen
fenced to thepillory, and have both his or her ears cut
off and nailed to the pillory, and be publicly whipped on
his cr her bare back, with thirty-nine lathes well laid on;
and moreover, every such offender, shall. forfeit the sum
of Two thonCnd pounds lawful money of Fenofylvania,
to be levied on his or her lands and tenements, goods and
chatties, the one moiety tb the use of this Stat<, and tte
other moiety to the discoverer, and thecff^derdhall pay
to the party aggrieved, double tie value o' the damages
thereby fufiamed, together wth (oils and charges of pro
secution. And in case the offender ha:h> hot i6fhCcnt to
fatisfj the discoverer for his or her damagerand ' charges;
and to pay the forfeiture aforefaid in such case the of
fender ft 11, by order of the Court where he cr flic shall
be conviTed, be fold as a fervan, for any term net ex
ceeding seven years, fcr fothfaT on.
And be lt further eniTed by the authority aforefaid.
That this AT and every thing there n contained,fo far as
refpeTs the Dew Bills of Credit to be errired by Cen
grefs, for the redemption of the present Currency cf the
United States, llrall be suspended umila majority cf the
States dial l adopt the above AT, or resolves of Congreis
ot the eighteenth day of March la ft.
And be it further enaTed by the authority aforefaid,
That so muchof the thirteen h feTion of an AT intitled,
" An AT for making Continental Bills of Credit, ana
the Bills of Credit emitted by the resolves of the late
Assembly legal tender, and for other purposes therein
mentioned," passed the twenty ninth day of January One
thousand seven hundred and seventy-seven, as prohibit
the asking or taking a less price in gold cr silver, than in
the said Bills of Credit ; and also the eighth feTion of the
AT intitled, "An AT for the regularion of the markets
of thecity of Philadelp ia, and lot other purposes therein
mentioned," passed, the fifth day ofApfrii, One thousand
seven hundred and seventy nine ; forbidding the buying,
felling or renting, or offering to bby, fell, or rent wiili
or for hard money, are hereby repealed and made void,
and that from and after the paffingof this AT, all con
trads whatever, hereafter made shall take effect and be,
payable according to the specie nature of such centred,
any Low heretofore to the contrary notwithstanding.
AND WHEREAS it has been recommended to
the Legislatures of the different States by the Honorable
Congress of the United States, by their resolve of the
twenty seventh day of May instant; to pass Laws for the
punishment of such persons as shall encourage defer'ions
from the fleets and armies of any foreign power, who shall
prosecute the war in America in conjunTion with these
United States, and for recovering such deserters as shall
conceal themselves among the inhabitants :
AND WHEREAS this House entertain the high
est fenfeof gratitude, for the generous assistance afforded
these United States, by our Illustrious Allies, and efleem
it their duty and interest to ass rd every affiftanca
and support to any Power who shall prosecute the war
in America, in conjunction with these United States;
therefore:
Be it enacted by the authority aforefaid, That any
person or persons who shall promote or encourage deser
tion, or harbour cr conceal any deserter, from the fleets
or armies of any Power, who shall prosecute the war in.
America, in conjunTion with these State#, shall be fub
jeT to the like fines and penalties as are by tne laws now
in being of this Commonwealth infliTed on persons for
promoting or encouraging defection, or harbouring or
concealing deferter# from the army of the United States.
And be it further enaTed by the authority aforefaid.
That any person or persons who shall apprehend and se
cure any deserter from any of the fleets or armies cf an,
power, who shall in conjunTicn with these States prose
cute the war in America, shall be intitled co the like re
ward as is allowed to persons apprehending and secur
ing deserters from the army of the United States.
JOHN BAYAR D, Speaker.
EnaTed into a Law at Philadelphia, on
Thursday the firft day of June, in the
year Ooe thousand seven hundred
and eighty.
Thomas Pain f, Clerk of the General Assembly.
— W N T E" D,"
A SERVANT who can drive a carriage, and manage
horses well. Such an one of a good character,
will be allowed generous wages, Enquire of the Prin
ter.