The New-Jersey gazette — Burlington [N.J.], 1786-01-30 00:00:00, page 3

'^ts vulue better than any other paper which has
been issued by the present government. If the seve
ral treasuries of the counties and of the state could
have been so replenished with the precious metals, that
the bills could have been exchanged always on de
mand, this exchange without a tender would have de
clared the revenue-currency to have been founded in
justice. Neither the mighty power of Britain, nor the
absolute power of France, could buoy up certain pa
pers, the one called the South-Sea Bubbles, and the
other, the Muliffippi Scheme, even for the space of a
few days after the people found that instant realiza
tion or immediate exchange failed. Neither could the
power of Congress nor the power of New-Jersey main
tain the value of their currencies, after the people
Separated in the market their coin from the paper.
Tenders, penalties, imprisonments and mortgaged lands,
are ineffectual to secure the value of paper: they can no
more force the opinion of people than a straw can obhrudt
the Delaware. Neither war nor peace is effectual to
destroy or secure the value of paper. Realization or
exchange is the life of paper; it is the foul of paper;
it is to paper what sunshine and rain are to the vege
tation of the earth; in a word, it is the essence of pa
per. No paper of any government in the world ought
to have confidence further than this evidence is given.
The people do believe and do know, and will believe
and will know, and ought to believe and ought to
know, until they fee with their eyes and feel with
their hands to the contrary, that a Sheet of paper cur
rency of itfelf with a tender is as worthless as a sheet
of wrapping paper. Now, can New-Jersey realize or
exchange with the precious metals this loan-office
paper? Not in the lead. No more than (he can rea
lize or exchange the national debt of the United
States. No more than she can convert the Apalacßian
mountains into gold. No more than her inhabitants
can drink all the waters in the Delware and the Rari
tan. She has no bank of deposit. Her poverty does
not admit of such an accumulation of wealth. She
cannot command the precious metals of the people by
influence and policy. The opinion of the people in
paper is not only banished and wanting, but the opi- 4
nion of the people is at enmity with paper credit.—
The people will for security deposit their precious me
tals in the banks of the neighbouring cities, and in
strong boxes, and, in some instances, in the bowels of
the earth, much sooner than they will exchange with
them the bills of this loan-office paper or circulate
them concurrently with this paper. In the market, peo
ple will not deliver their property without coin or with
out a special contrast that paper Shall be received at
an agreed difference to the disadvantage of paper.
Creditors will conceal their written evidences, and re
fufe to cancel them without gold or silver, or a great
er sum in paper. In Short, in every money-tranfadion,
coin and paper will separate, vary, and be at enmity.
The inevitable consequence of which will be, that this
loan-office paper with a tender will depreciate, injure
and perilh. The exigence of the above four essenti
als, especially of the last, accounts for the value of
former paper currencies, while the non-existence of
them, especially of the last, accounts for the inevita
ble depreciation of all paper currencies whatsoever of
this day, whether founded on taxes or on mortgaged
lands. Tenders formerly were mere furplufage ; they
did neither good nor harm : the circulation of the bills
at value was effected entirely by the above four re
quisites. The voluntary concurrence of paper and
coinin the market establishes paper, their separation ine
vitably destroys it. The very moment they separate
it becomes as much the policy of government, either
to support at value in an extraordinary manner, or in
stantly to recal at value her paper, as it does the part of
a good general in the time of battle either strongly to
reinforce or artfully to withdraw a beaten regiment.
Separation is the criterion and the watchword to a mi
nister of state, who keeps a vigilant eye and holds a
Ready hand. Separation is the pulse, which prognosti
cates to him with unerring certainty the will of the
community. The very moment they separate he flops
the press, and by no importunity and urgency can he
be induced to emit a single bill, until by his justice
and wisdom he has effectually and previously secured
with the publick a voluntary and gracious reception
of his paper. All forced circulation of paper is la
mentable folly and woful injustice, and more especi
ally so, if it be armed with tenders and penalties. In
the present situation of New-Jersey, can the conclusi
on be drawn, that this loan-office paper with a tender
will letain its value? If it will not," injustice will be
done. If injustice be the probable consequence, wis
dom forbids the measure. The plague and deprecia
ting paper with a tender are wide wafting evils. A
depreciating paper with a tender is no better than a
fraudulent card in the hand of a gambler. To emit, in
the present situation of New-Jersey, bills with a ten
der, to be loaned on lands, appears to be nothing more
than a new emission of continental currency ; to be
nothing more than a repetition of those experiments
which have ever failed with the most detrimental ef
fects to individuals; to be nothing more than a new
tune to the old song of depreciation and injustice;
and to be nothing more than a new suit of silks and
a little more rohge to the old bawd. Truth and jus
tice ought to be the foundation and the execution,
the beginning and the end, of every law. The credit
of paper is a coy dame, who is to be courted and
coaxed with nothing but truth and justice; all other
ways and means are ravishment of her honour and
banishment of her person. The conclusion drawn is:
that the proposed mode of securing the value of this
loan-office paper with a tender will not ensure that
effect; that this loan-office paper with a tender will
inevitably depreciate and do great injustice; that it will
not answer the general purposes of a currency ; and
that, until the opinion of the people be changed by
measures relative to money very different from those
*, The piece Signed A Farmer is come to hand,
and will be inserted in our next.
AT PUBLICK VENDUE,
AT John Rutledge's, on the premises, the ninth
day of March next, being the fifth day of the
week, either together or in lots of two to three hun
dred acres, a trad of land, called Good Will Pur
chased again, Situate in Harford county, in the state
of Maryland, twenty miles from Baltimore town,
near the upper cross roads, containing one thousand
five hundred and fifty-two and a half acres. It is
mostly good wheat land, well watered, and a quantity
of good meadow is and may be made on Several of
the lots; each of which has a proportion of wood
land. There are several buildings, and orchards on
it, and the whole is well fenced, and its vicinity to
Baltimore will render it very valuable. The pur
chase-money to be paid in Seven equal yearly pay
ments, the purchasers giving fatisfadory security, and
paying the interest annually. A draught of the land,
divided into lots, may be Seen at John Rutledge's
on the premises, who will Shew the land to any per
son desirous of viewing it. C
CHARLES JERVIS,
Attorney to Ann Pemberton.
Jan.- 18th, 1786. 6w
TO BE SOL D,
At Publick Vendue,
AGREEABLY to the last will of Michael Blew,
late of the western precind, in the county of
Somerset, deceased, on Wednesday the Bth day of
February next, the plantation whereon the deceased
lately lived, containing upwards of 300 acres of very
good land, a good proportion of woodland, and well wa
tered, &c. and all the personal estate, confiding of
horses, cows, young cattle, hogs, feather beds and
furniture, household and kitchen furniture, green
wheat in the ground, farming utensils, &c. The sales
to be held on the plantation, and conditions then
made known.
John Voorhees, 7 r
Gideon De Camp, ) xec °
N. B. A likely negro wench, 3 negro boys and 1
girl, from 4 to 14 years old, to be fold at private
Sale.
Jan. 27, 1786. zw
which have for some years past been adopted, it is not
expedient to emit in New-Jersey a paper currency
with a tender. EUGENIO.
(To be continued. )
$ = -———=—^^^===- ^^§
American Intelligence.
PHI LA D E LPHI A, January 14.
On Monday the 9th instant, the following gentle
men were elected directors of the bank of North-
America, for the ensuing year:
Thomas Willing, J. M. Nefbit, Andrew Caldwell,
Thomas Fitzfimons, Henry Hill, Cadwalader Mor
ris, Mordecia Lewis, John Nixon, John Ross, Jo
siah Hewes, Samuel Powell, Richard Bache.
And on Tuesday Thomas Willing, esquire, was
elected president.
At a meeting of the American Philosophical So
ciety, on the 6th instant, the following gentlemen
weie duly elected officers for the current year, viz.
His excellency Benjamin Franklin, efq. president.
The rev. dr. John Ewing, the rev. dr. William
White, and Samuel Vaughan, efq. vice-presidents.
David Rittenhoufe, elq. dr. Benjamin RuSh, the
rev. mr.George Duffield, dr. John Jones, and dr. Adam
Kuhn in the place of JoSeph Reed, efq. deceased,
councellors for three years.
The other councellors, formerly elected, and still
in office, are the honourable Thomas M'Kean, the
honourable George Bryan, the Sieur de Marbois,
mr. Samuel Caldwell, Jared Ingerfol, efq. Jonathan'
B. Smith, efq. and the rev. mr. Robert Blackwell.
Dr. James Hutchinson, the rev. dr. Samuel Ma
gaw, mr. Robert Patterson, and dr. John Foulke,
secretaries.
Dr. Samuel Duffield, dr. Barnabas Binney, and
William Bradford, efq. curators.
The honourable Francis Hopkinfon, treasurer.
On the 10th instant, mr. Theobald Shively, of
Fourth-street near Vine-street, in this city, barber,
having, as is supposed, gone up in his hay-loft, to
throw down hay to his cows, was found dead, at the
foot of the ladder, with his neck broken.
Jan. 26. A very sovereign antidote has been
lately discovered for the dreadful malady the lock
jaw, which has proved mortal to so many of the
human species, and baffled the art of the sons of Ga
len. It is eleftricy, the powerful effects of which
was recently experienced to the eastward, on a young
woman languishing under all the Symptoms of a Spee
dy diflblution.
Notice is hereby given,
New-Jersey, ? r l'o all the creditors of Josi-
Middlesex county, ) JL ah Smock, an insolvent
debtor, confined in the gaol of the said county for
debt, that they be and appear before the judges of the
inferior court of common-pleas for said county, on
Thursday the twenty-third day of. February next,
at two o'clock in the afternoon, at the house of ma
jor Thomas Egbert, in the city of New-Brunswick,
then and there to Shew cause, if any they have,
why an assignment of the Said debtor's estate
Should not be made for the benefit of all his creditors,
and Said prisoner be thereupon difeharged from his con
finement, pursuant to an act of the legislature of this
state, intitled, 6 an ad for the relief of insolvent
debtors.' Josiah Smock.
Jan. 20, 1786. 4W*
House of Assembly, November 17, 1785.
A MEMORIAL from the trustees of the roads
and ferries leading from Newark to the road
that leads from Bergen-Point to Paulus-Hook, was read,
praying for a law to vest the ferries between Newark
and the town of Bergen in the trustees, on their paying
a certain annual rent, or on their being accountable for
the net revenues to the-proprietors, or at least until the
trustees are repaid the monies they have expended in
repairing the causeways, and putting the ferries in good
condition; and also the monies that may hereafter be
expended by the trustees for the said purposes;
Ordered, That they have leave to present a bill
agreeably to the prayer of their petition, on adver
tising the purport thereof, and a copy of this order,
in one of the New-Jersey, and in one of the New-
York news-papers, for at least fix weeks previous
thereto.
Five Dollars Reward.
RAN away from the fubferiber living in Upper-
Makefield, Bucks county, state of Pennsylva
nia, on the night of the 25th inst. a servant man
named John Jones, about 5 feet 9 inches high, of
a dark complexion, black bushy hair, thick set, and
had a very fore leg; took with him a new pair of
boots, broadcloth coat, a great coat of coating, a
hat, and many other things. Whoever apprehends
the said servant, and Secures him, Shall have the above
reward, and reasonable charges, paid by
Whitson Canby.
Jan. 27, 1786. iw*
To whom it may Concern,
THE fubferiber having how retired from busi
ness, and wishing to have a final Settlement of
his affairs, refpe&fully requests those who have any
demands against him to fend in their accounts; and
those who are indebted to him, to make payment on
or before the fiift day of April next, or they must
expert to be dealt with according to law.
Joseph Borden.
Bordentown, Jan. <3, 1786. t. f.
House of Assembly, November 21, 1785.
WHEREAS a petition was presented to the house
of aSTembly of this state by Rensselaer Wil
liams, Esquire, of Trenton, in the county of Hun
terdon, setting forth that Henry Longfield, late of
New-Brunswick, deceased, made his testament and
last will, appointing Samuel Kemble and James Neil
fon his executors; that the said Samuel Kemble
joined the enemy, and is not at present within the
United States; that the said James Neilfon is Since
dead, and that there is not at present any person du
ly authorized to execute said testament and last will,
therefore prays that a law may be palled to vest him
with full power to take upon him the execution of
the testament and last will of the said Henry Long
field, and to fulfil the intention of the said testator;
Ordered, 'i hat the petitioner have leave to present
a bill agreeably to the prayer of his petition, on ad
vertising the purport thereof, and a copy of this or
der at least fix weeks previous thereto in the differ
ent news-papers printed in this state.
Extract from the minutes.
MASKELL EWING, jun. Clerk.
Notice is hereby given,
That a bill will be presented to the honourable the
legislature at their next fitting, agreeably to the leave
given in the above order.
RENSSELAER WILLIAMS,
Jan, 21, 1786. 6w
Extrad from the minutes
MASKELL EWING, jun. Clerk.
Notice is hereby given,
That a bill will be presented to the honourable
the legislature at their next fitting, agreeably to the
leave given in the above order.
Jan. 25, 1786. 6w