The New-Jersey gazette — Burlington [N.J.], 1780-04-05 00:00:00, page 1

Mr. COLLINS,
HONESTUS having dispatched regulation in
three words, demands to know, " suppose
all the money was called in, and one given
for twenty, agreeable to the plan recom
menUvd by the True Patriot, what was then to be
done ? whether the fame scene of iniquity is to be a
gain repeated ; and thousands again to be ruined by a
second inundation of paper money ?"—I answer : That
gentleman must have seen, that I recommended as part
of the plan, to pi ocure (if possible) a fufficient quanti
ty of specie, and give that in exchange, finking what
ever the money should be found, on an average, to
have depreciated : If that could not be done, then to
do it by new emissions; at the ame time regulating
laws should be palled, to secure the money at this value
to the possessors. As this would stamp an invariable va
lue upon the money, rhe army might be supplied by
contrast, and millions of waste prevented ; and then
the necessary supplies railed by taxes. The difficul
ties this gentleman here objects are evidently found
ed on his fappojed futility of regulation ; the con
trary of which 1 flatter myfelf to have fufficientiy
proved.
Suppose the money should be called in, as I have
before proposed; or let it be by taxes in the ordina
ry way: Per example; New-Jersey collects by the
two ensuing taxes nine millions, and the other Rates
in proportion; let not a dollar of this be re-ifiued
but funk, and new emitted on a different plan, and
the present neceflities supplied therewith. If the
common convenience of the empire could admit that
each Rate emitted its own money, 1 am persuaded
this would tend greatly to preserve the value. In
such case the Itaplc commodity of the Rate might be
made the standard of the value of their money ; for
instance, in New-Jersey the money to be emitted in
some such form as this : This bill jball pass current in
New-ferfey for one SpaniJb milled dollar, or sixty lb.
of wheat, pursuant to an ad, &c. Let the law make
this money the only lawful tender for all payments
of debts contrasted before the commencement of the
depreciation, and thole to be contrasted after the
new emillions ; and the prices of all other articles'be
regulated in proportion to that of wheat. Then in
order to preserve the ftriHeft equity and justice in
trade, the debtor should be permitted, in case wheat
should depreciate by an over-Rocked market, to ten
der that in payment ; and the creditor, in case mo
ney ihould again depreciate, in spite of law, to de
mand the wheat or the amount of it in money. It
'appears to me that such money in its very nature
would prove an effectual bar against depreciation :
For the creditor would have fomethihg real and un
changable to depend on, and the debtor would not
be tempted to extortion in order to pay his debts with
money not worth one-fortieth part of the property
he contracted it for. It seems to me such money (in
our present circumkances) would be preferable to
specie itfelf ; which, in our situation, would be fub
jeCt to depreciation as well as continental.
Now let Honeftus judge, would this or a similar
method be .calculated to repeat again the fame scene
of iniquity ? If money had once acquired liability,
and the annual supplies for the war could not be
railed by taxes, the d< ficiency might be supplied by
internal loans or annuities, and in case of necessity a
foreign loan might then prove advantageous ; and
duties on the fuperfluities of life could afford an ad
ditional sum. By such means a second ruinous inun
dation of paper money .would be prevented.
But while that gentleman is objecting unground
ed difficulties to "this and that plan," has he duly
considered his own ?—The Patriot's plan has not been
: adopted ; the 'money press has been flopped ; taxa
tions and loans tried ; and has " the scene of iniqui
ty" stopped ? Compare the present prices with those
at the period of my former publications, and fee the
progress of that " scene of iniquity." Let him pro
ject his views, andjudge where it most probably will
stop if no effectual remedy is applied.—He is persuad
ed " that the grand defideraturn, namely, to be able
to raise the necessary supplies without doing farther
injustice to individuals, can, only be effected by tax
ations and loans." How far foreign loans and mort
gaging America for them will go, I do not pretend
to afeertain ; but taxations and internal loans I am
persuaded cannot possibly effect it. This seems evi
dent from the nature of the depreciation, which has
constantly exceeded the quantity of the money. The
press was flopped at the sum of two hundred millions,
and the supplies Congress demanded were rated twen
tyfold; but immediately upon this the depreciation
increases to thirty, forty, fifty fold : here the supplies
must unavoidably fall short the half. Hence inevita-
NEW-JERSEY GAZETTE.
bly follows exorbitant demands upon the public trea-
[Vol. lII.]
WEDNESDAY, April 5, 1780.
The fuppofition,—" Indeed could we suppose Con
gress wicked enough," &c. with some of his myste
rious and ambiguous assertions, Ifeem to contain some
interesting matters which demand serious considera
tion; but must dismiss that gentleman for the pre
sent.—And remain, Sir, &c.
March 7, 1780. A true Patriot.
—— < —
HAGU E, November 10.
The following is a true copy of the new Memorial of Sir
fojeph Yorke, to the States General, demanding from
them the re/litution of the Serabis and Countess of
Sea rboro ugh.
" High and Mighty Lords,
cc A F the fame time that I thank your High Migh
tinesses for the orders which your humanity
hath dilated, with refpedt to the wounded on board
the King's ships Serapis and Countess of Scarborough,
I cannot but acquit myfelf of his Majesty's Rrict or
ders, by renewing the strongest and molt urgent de
mands for flopping and restitution of those Ships, and
for the enlarging of their crews, of which the pirate
Paul Jones, of Scotland, a rebel and Rate-criminal,
has the poffeflion.
" Sentiments of equity and justice in your High
Mightinesses, leave no room to doubt that, on more
maturely deliberating upon all the circumstances of
this affair, they will readily acknowledge the Solidity
of a demand, so well founded on the most solemn
treaties, which have subsisted for more than a century
between the Crown of Great-Britain and the United
Provinces, as on the principles of the law of nations,
and custom of countries friendly and allied.
" The Stipulations of the treaty of Breda, of July
20, 1667, confirmed by and expressly referred to in
that of 1716, and in all subsequent ones, are too clear
and inconteftible, as to this point, for any one not
to feel its full force.
fury, and a great diminution of the circulating me
dium. The natural result is, the publick demands
money by tax to pay off arrearages to a great amount ;
individuals demand those arrears to be thereby en
abled to pay the tax. —Can Mr. Honeftus possibly
fee the dilemma ?—Again, our present circulating
medium appears to be about four millions of dollars
original value: can he believe that less than double
that sum will afford supplies for our military opera
tions? Can he suppose it possible to collect, in one
year, double the circulating medium by taxations and
loans? or are these his desiderata to work miracles ?
Though our money was no better than straw, in
such an attempt the former would afford as effectual
an instrument of tyranny over our community, as
the latter the Egyptians over the Israelites. Mr,
Honeftus, what is to be done then ? Is the fame scene
pf iniquity to be again repeated ? Are thousands more
to be ruined by a farther inundation of our present
paper money ? If the daily increase of depreciation is
to force an increase of the quantity, and this to sup
port and nourish the depreciation ; I again repeat the
quethon, Hhat is to be done ?
These dangers I have clearly forefeen, and ven
tured to lay them before the refpeCtablc publick at a
period its pernicious consequences might have been
prevented. lam fully confeious of my sincere inten
tions in that attempt ; and it affords me fatisfadion,
that amidst the virulent reflections and low feurrility
I have met with on account of these my publications,
the arguments I have offered in support of my alfer
tions, have hitherto remained unattacked. And I
could not then, .nor can I now, but be persuaded
that America will fee the time (if they do not in some
measure already) that she will become fully convinc
ed that if this or a similar plan had been pursued,
not only the community, but also thousands of in
dividuals, even the monied men themselves, would
have been greatly benefited by it ; and doubt not but
a despair of conquering us by our money, would have
induced our enemies to content to a fafe and honour
able peace ; which would have concluded the scene
of our calamities of war.
" The King would think he derogated from his
own as well as the dignity of your High Mightinesses,
by declaring the particulars of a matter so notorious
as that in question, or by citing, to the ancient friends
and allies of his Crown, similar examples in other
Princes and States.
" I Shall confine myfelf to remarking, that even all
the placards of your High Mightinesses, prescribing to
the Captains of foreign vessels, armed for war, to pre
sent their letters of marque or commissions, autho
rize, according to the general usage of admiralties,
to treat as pirates those whose commissions are ac
knowledged to be illegal, for want of being derived
from a Sovereign power.
" As the quality of Paul Jones, and all the circum-
THE
Rances of this business, cannot but be known, because
of their notoriety, to your High Mightinesses, Europe
has her eyes fixed upon your resolution. Your High
Mightinesses know too well the importance of good
faith, not to give an example of it on an occasion in
which it is so eflential. The lead departure from a
rule so sacred, by weakening the friendship between
neighbours, often produces unhappy effects.
" The King hath always considered it as his glory
to cultivate the friendship of your High Mightinesses.
His Majesty constantly perseveres in the fame Senti
ments ; but the English nation does not think they
have, by any Reps they have taken, given occasion
for having their fellow-citizens detained as prisoners
in a port of the Republic by a vagabond fubje& of the
fame country, and who enjoys that liberty to which
they have right.
" For all these and many other as solid reasons,
which cannot escape the deep penetration and wisdom
of your High Mightinesses, the undersigned hopes to
receive a fpcedy and favourable answer hereupon,
agreeable to the just expectation of the King his mas,
ter, and of the British nation.
(Signed) YORK E."
At the Hague, 29th October, 1779.
MADRI D, November 2.
DO N Santiago Palmero, Dean, and Don Pedro
Louis Ozta, Archdeacon of Tafavera, had the
honour, the 28th of last month, to pay their refpedts
to the King and Royal Family, as Deputies of the
Chapter of Toledo, a principal church of Spain.
The Chapter had sent them to offer in its name to his
Majesty, the persons, the revenues, 'and the goods
of those that composed it, to be employed to carry
on the war against Great-Britain. The Deputies
were on this occasion preceded by Don Francisco de
Lorenzana, Archbilhop of Toledo, who in the fame
manner, offered all his possessions to be disposed of by
the King. His Majesty answered to the address,
which the Prelate and Deputies presented him for
that purpose, in the most gracious manner. A like
zeal animates all the nation to support the war, which
it regards as just and necessary ; every day furnifhes
new examples. Don Antonio Macias, perpetual Re-_
gidor of the city of Almeria, has offered to build, at
his own expence, two towers or redoubts in places
marked out on the coast of Grenada, where he tho't
them necessary, and likewise yielding unto the King
certain revenues that belong to him, and which a
mount to the yearly sum of 80 to 100,000 rial*, and
another sum of 1000 ducats a year during the war.
Don Joseph Texedor, Judice de Acharte, hath be
feeched his Majesty to accept of the revenues of five
Majorates and several Seignories which he possesses,
independent of 30,000 dollars in the funds, &c. Ma
ny other citizens have equally offered the revenue of
their lands and other possessions, the use of their mills
to grind the grain necessary for the army, &c.
A long space of time has elapsed since we have con
sidered America as loft to this nation without re
source. To dissipate the small hopes which some Rill
retained, Spain has joined its forces to those of France.
The friends of administration have taken all imagina
ble pains to persuade the multitude, that the neutral
powers formerly in friendship with Great-Britain,
would not remain idle fpedtators. They have spoke
of a mediation, but have represented it accompanied
with threats, in order to intimidate the cabinet of
Versailles and Madrid. But now letters from Peters
burg, Berlin, Amsterdam, and Turin, have dissipat
ed that momentary illusion. They are in every ones
hands, and prove that all those courts, from whom
this favourable interposition was expected, after some
political and discreet negociations, have remained fi
ient, and some of those foreign ministers have been
heard to express that they could not conceive the ob
stinacy of the court of St. James's.
It is an undoubted fad, that those courts have pro
posed to that of Great-Britain, to acknowledge the
independence of America; it is the more probable
inasmuch as it is the particular interest of each of
those courts that this independency should be ac
knowledged. In such a position the British observe,
What can be our perfpedive ? A war to support with
unequal forces, an enormous national debt accumu
lating, without hopes of any assistance, not even that
of being pitied ; it is better to let the mine blow up ;
misfortunes perhaps may restore to us the political
consistency which we have loft by being blinded with
our former prosperity.
We learn from Ireland, that on the 23d of Nov.
the assurance given by the Speaker of the Commons,
of the disposition of his Majesty and his Ministers, to
LOND O N, October 5.
[Numb. 119.]