The New-Jersey gazette — Burlington [N.J.], 1786-07-24 00:00:00, page 1

From the Massachusetts Independent
Chronicle.
On the debate in a certain refpec/^ble affemblj, whether
the Certificates Jbould be called in at tbeir current
value, a member addressed the court thus —
Mr. Speaker,
TH E idea of redeeming the various species
of our publick securities at their present
depreciated value, has never till now been
suggested, and I hope, for the honour of
the government, will never be agitated
again within these walls; as it not only
affefts the rights of the fubjed in a very interesting
point, but, if it bad the authority of a law, would
for-ever destroy all confidence in the faith and integrity
of the publick. Society, fir, becomes refpeftable on
the fame principles by which the character of every
individual is maintained. Dilhonefty in either is equal
ly opposed to wisdom, and equally pernicious to their
true interest ; it may give a momentary relief, but its
favourable effeds will soon vanilh ; distrust and even
abhorrence will succeed, and the imposition once de
tected, will hang a perpetual clog on the progress of
every future undertaking. It is not then the duty
only, but the prosperity, and perhaps even the exist
ence of a country is involved in the performance of its
contrasts. As to those, therefore, who assert that a
measure which is ^orally wrong may be politically right,
they hold a doctrine contradicted by the uncorrupted
opinions of the world, and subversive of ill political sys
tem: for it is clear to demonllration, that a disposition
to take every advantage that power would give, would
operate as the most cruel tyranny, however it were
lanftioned by the forms of a free government. Such
conduct, in my idea, would amount to little short of
political suicide, and would go near to sap the founda
tion of the best established monarchy in Europe. The
law, in our private tranfadions, mr. Speaker, will al
'ways aft as a collateral check on the views of the indi
vidual, and his principles and fears are both of them
engaged in the difeharge of his duty. But in our con
nexion with the Race, we have little else but its faith
to confide in, and of course this faith should be pre
served with the most sacred punduality. When the
promise is once plighted, government that moment
defeends to the rank of an individual, and all it has
to do is to fall on some effectual measures to fulfil its
engagements. It cannot hesitate a moment about the
worth which the people give to its securities without
incurring the odious and scandalous imputation of be
ing judge and part, in its own case.
Why then do we talk of the hardship of being ob
liged to redeem our certificates at their full value,
because they are daily purchased at a far less sum than
they were issued by the state. It is a misfortune, in
deed, to the original proprietor, that he is obliged to
fell at so low a rate ; but it cannot be considered as a
crime, unless it be a crime in the state so long to have
delayed the execution of its most foiemn obligations ; and
if this is really the case, shall the government receive a
benefit, for what the law provides a penalty.
But we seem to be afraid that those who have spe
culated in our funds will grow too rich, and at the
expence of the people at large. As to the latter part
of the proposition, the people are not the poorer, let
who will be their creditors; and as to the idea of
wealth being accumulated by speculating in our pub
lick securities, there is not a man who has ever trust
ed the state or continent, persuaded by its assurances,
but has been Jure to lose by it.
If we examine the policy of every other country,
fir, peculations in the funds are rather encouraged than
disapproved by the government. They are considered
as the pulse of the body politic ; and though its fee
ble vibrations may at any time announce both langour
and decay, they still demonstrate those remains of ani
mation which demand relief and preclude despair.
They are the barometer, mr. Speaker, of modern
power, and explain the strength of a community be
yond the calculations of arithmetic : they are founded
in the necessities of mankind, and in the different ideas
which different people entertain of the honour and re
sources of a government; and if those who have the
most favourable opinions, and are the most firmly at
tached to its interest, have the best claims to its pro
tedion, then furcly we are bound by every tie of ho
nour, gratitude and policy, to reward their confidence
in our promises. In fad, the warmest friends of the
revolution will be the greatest fufferers by a national
bankruptcy, while those who have always regarded
our publick profeffions, as a trick to deceive them, will
have kept their property.
As a proof of the justice of these observations we
have only to cast our eye on the state of that nation,
from whose detested yoke we are now freed, and we
foal! presently fre that it is now owing to the implicit
TRENTON: Printed by ISAAC COLLIN S, Princer to the State.
NEW-JERSEY GAZETTE.
Vol. IX.]
MO ND AY, July 24, 1786.
This, however, is not a general character of the
people—it is but the result of that busy and restless
spirit by which faction is always marked, and to the
malignant influence of which every free country is
exposed, though it ought always to be reprobated.
But it will be immediately alked, whether our trade
is not distressed, our debts great, our money decreas
ing, our imports immense, our exports inconsiderable,
and our navigation annihilated. This, fir, is the
gloomy portrait either of disappointed vanity, of fac
tious views, or even sometimes of honed but unre
fleding patriotism, and daily exhibited to the world
as an exad t representation of the present date of Ame
rica. It would require too much time to investigate
the fubjed tat large, and to answer every question in
its order. But it is very certain that molt of these,
though evidently heightened in their representations,
are the natural effects of the war in which we have
been engaged, and in which the hbcin of our citizens
confidence reposed in her promises, that she still re
tains her present power and reputation ; and is it possi
ble to believe, that we have neither virtue nor wisdom
to adopt that policy from an enemy, from which she
has undoubtedly derived ftich essential benefits. Ame
rica, under every advantage which nature and liberty
afford—while Britain but presents the mutilated re
mains of her former grandeur, like a statue thrown
from its pedestal, its trunk entire, but its extremities
forever separated.
But if we admit the cuill, and only dispute our abi
lity to do justice to the publick creditors, I should
with to be informed as to the evidence in support of
this opinion. Are we not in the dawn of life, our
population rapid, our resources many of them unim
proved, and all of them increaling, perfedly free and
wholly unincumbered by those oppressive and enor
mous establishments, whether civil, military or cccle
fiaftical, by which the common people of every other
country are impoverished ? Is not the idea of poverty,
which many are fond of inculcating, absurd and chi
merical, founded on partial views and erroneous cal
culations ? A fpeXre raised to difconccrt the measures
of government, and to impede the course of justice,
and for no other reason but to indulge the meanness
of avarice, or to promote the views of faction.
Should we, however, be forced to confer the me
lancholy truth, that our country, after all, is not
worth the money it has really cost to defend it, and if the
peace and fafety of the commonwealth demands the
facrifice of the firmed friends of our independence, in
order to its preservation, let us convene our credi
tors and requelt their indulgence. Any thing would
be preferable to the low wretched arts so industriously
played off to perplex and embarrass, without a single
expedient being suggested for the common gdod. In
this situation we should then do as honed men ought
to do. While we acknowledged our poverty, we
should preserve our reputation ; and though we might
be justly ridiculed for our conduct, after all the pa
rade about the superior blcffings of our.boafted revo
lution, we still could not be reproached with difho
nedy.
But who are the people, mr. Speaker, who are thus
perpetually talking of our poverty, and offering it as
a reason to judify the measures of the delinquent
dates, either as to the constitutional requisitions of
Congress, or as to those federal improvements, without
which, experience has already demonstrated the utter
impracticability of our preferring the union ? At what
period have they fought, what money have they loan
ed or given, or what services have they rendered the
commonwealth, unless murmuring is a benefit, and
chicanery a virtue? In this view, they ought to be
crowned with laurels for their patriotic exertions, as
their zeal is unremitted. No, mr. Speaker, there is
not a person of this class who ever has, or ever will
aflift the country with a farthing. They stand un
moved at our distress, and are only afraid that they
shall be made to contribute what they ought long
since chearfully to have performed. I blush that such
citizens exist, and I lament that they are Americans,
for they would be a difhonour to any country, but are
the bane of an infant community like ours.
If the clamours of difeontent, however, mud be
admitted as proofs of publick infelicity, the annals of
every nation, and even in its happied periods, are au
thentic evidence that no country has yet been happy,
as every sera has been marked by the fame apparent
diffatisfadion in a large part of the community. In
our retrofped on the past, many are too apt to view
none but the pleasing parts of the picture. We think
only of the advantages of our former situation, and
forget the dangers we have escaped, and the real fuf
ferings by which we have been oppressed. Indead of
gratitude to the Great God of peace for his didin
guilhed mercy, we assail the Heavens with our impi
ous clamours.
THE
Foreign Intelligence.
£—= ss=== ^
TRIPOL I, January 20.
'THE plague which made great ravages here last
1 year, has broke out again with redoubled vio
lence ; and the calamities consequent on this disorder are
in a great measure owing to the total inattention of
our government for flopping its progress, no precaution
being taken with refpedt to the infefted ihips daily
visiting our port. Heaven, which seems enraged against
us, threatens this city and its environs with a misera
ble famine. Provisions of all kinds are enormously
dear; a last of corn, Amftercam measure, now costs
sco Dutch florins. If the Almighty does not speedily
extend his companion to us, not an inhabitant of this
whole territory can survive ; for the contagion spreads
as rapidly and with as fatal effect in the country as
in this city.
MADRI D, January 10.
Every day is now marked with a new stride towards
improvement and civilization, in which we have re
mained so long behindhand with the other nations of
Europe. New societies for learned or ufeful objects
are daily established and encouraged by government.
The Economical in the country called Urgcl, has lately
been employed in fettling the much talked of plan of
opening a canal from Urgel to Zarragone, and on the
means of bringing a fufficient quantity of water to
supply the inhabitants of the plain of Urgel, where
186 dwelling-houses and 96 hamlets are totally ruined
and depopulated for want of water, which is so very
scarce all about the above country, that the people are
obliged to fend to the river at a great distance, besides
it was proved that the water thus fetched stagnated in
the vessels employed for that use, and proved very
prejudicial to the health of the inhabitants, so far as
to occalion an epidemical distemper, which has swept
off a great number of people, and still continues to
rage with unabated violence in that part of the king
dom.
ROM E, February 25.
An edidt was lately published for the suppression of
drunkenness. Perlons guilty of this Ihameful practice
has been diverted from its proper objects. This in
terruption of labour arising in a great measure from
our having been the immediate theatre of hodile ope
ration, together with the debt existing at the begin
ning, and the want of many of the necessaries, and
mod of the conveniencies of social life, at the con
clusion of the war, joined to the effects of the sanguine
expectations of mercantile adventurers, both on this
and the other fide of the Atlantic, may be considered
as the efficient springs of the present difficulties. We
either wanted, or fancied we wanted, what we had
not the proper means of remittance to pay for, and of
consequence have been drained of our specie to dif
eharge our refpeflive obligations. But it is easy to
fee that these defeats are now worki g their remedy.
Our importations have lefcned, industry is substituted
to expedient, and we beginning to confine our atten
tion to our own internal relcurces, to our manufac
tures, to agriculture, and to our fishery. Our wants
have lelfened, and we fliall infallibly deduce those ha
bits of frugality and industry, from the very misfor
tunes which extravagance never fails to introduce.
If then our situation is neither so bad as has been
represented, nor is likely to continue so bad as it is
at present, what is it we want ?—We want fyfcm
and arrangement.—We want the virtue and the union
of sentiment in peace, which has saved us in the
war. —We want a serious, firm and permanent cetcr
mination in the government to do justice.—We want
the influence of an honest example, and it lies with
this state to set it.—Let us not then enquire whether
the other states are doing as they ought to do, but let
us do our duty, and trull to the event, and if it is
impossible, that justice, honour and liberty can subsist
on this continent, let it never be said that it is our fault.
Ours has been the pott of honour on all arduous oc
calions, and let us not at this period of the revoluti
on forfeit the well-earned reputation we have acquired
in its early stages, by ridiculous furmrfes, and that ab
surd jealousy of Congress which at last must change
the constitution itfelf. By such policy, confidence in
the government will be restored, the publick securities
will not be confined in the chests of speculators ; by
paying the interest they will come in demand, they
will supply the place of the specie we have loft, they
will get into,every body's hands, the value of all cur
property will rife as the medium to represent it is en
creafed, and instead of being considered as a curse, t e
PUBLICK DEBT will become a PUBLICK BLES
SING.
[Numb. 428.]