The Pennsylvania evening post — Philadelphia, Pa., 1776-10-05 00:00:00, page 3

all' the reaped and submission they tnay claim. This dreadful
appreherfion introduces, with great force on my mind, an
other reason why we ought to fink, by a fufficient tax, as
much as we can of the continental debt, viz.. That without
this it is not possible to continue the war, and avoid absolute
submission. 1 conceive the value of the currency of any
date has a limit, a ne plus ultra, beyond which it cannot go,
and if the nominal sum is extended beyond that limit, the
value will not follow. No human wisdom, or authority,
can be able to dretch the nominal currency beyond such real
value. That the consequence of any attempt to extend such
nominal addition, mult depreciate the value of the whole,
till it is reduced within said limit, I will explain my mean
ing thus: Suppose that thirty millions of dollars was th®
uimoft limit of currency to which the United Rates of Ame
rica could give^real effectual value, and they fliould emit
thirty millions more, I lay. the lad thirty millions would add
nothing to the value of. the whole, but would fink the value
of the whole; sixty millions down to its limit, viz. thirty
millions, i. e. the whole sixty millions in that case would not
purchase more real fubdantial goods than the thirty millions
would have done before the. other thirty millions were added
to it. It follows from this, ,that any.attempt to continue the
war, by increasing the currency beyond the abovefaid limit,
is vain, and mutt fail.of the effect intended, and ruin all
those who poflefs the currency already emitted. Whether
the currency already emitted arises to the said limit, is a
qucftion of fa& that may admitfome doubt, butthat it is not
greatly within it, 1 think can be no doubt with people well
acquainted. With the nature .and circumstances of this great
fobjed ; and be that as it may, 1 think every inconvenience
arising from, it ,is easily remedied by a fufficient tax. Ido not
apprehend We have yet fuffered by a depreciation of the curren
cy, because I cannot observe that the general prices of goods
are more railed than the circumifances of the war will make
necuß'ary were our money all gold and fiiver, .and farther ex
tremities may produce.farther effects of tne.fame kind, with
out depreciating the currency at all. .
No kind of nec^ffaries have risen to the excess of price
given lad winter in Bofton,for frefh provisions, though their
currency was all gold and Slyer, mereafeef risk must raise
the price cf all imported goods, Scarcity, of laborers mud
jaife the price of labor, and of- confequeuce the price of
every thing produced by labor, scarcity of tradefrpen (many
cf whom are gone into the war) and demand for tradesmen's
fabricks, mod raise the price of them ;,beii.tes, many raw
materials used. by the. tradesmen, muff be imported at
freat risk, and I do not fee that the prices of mod or all
th c fe are greater than they would be if every Continental
dollar was a fiiver one, and Should we admit that we are on
the verge of a depreciation, or that our currency hath fuf
fcred Some little already in its value. • Two consequences
will follow, ~which deserve great and immediate confideratior..
Firfl, That, a speedy remedy is immediately necessary,
which faall operate effectually, and prevent the ruin of our
currency ; and the second is, that the remedy by this very
means becomes more cafy and -practicable than otherwise it
could be, because a tax will be paid much more easily in this
Case than it could be, if money was in credit enough to be
avariciously hoarded, asd this holds, let the tax he of any
nature, such as general affeffmeta of poles and eitates, ^x
cifes, imposts, or duties on goods, lotteries, &c. &c. in any,
cr' all these ways, our currency may be lessened much easier
when its credit is a little Doubted, than when it is at its
hUheft ; and what contributes not a little to this facility is,
497
that it may be done by general consent, without public un
easiness and disturbance, for a depreciation of currency can
be wished for by no body, but those who are deeply in debt,
the weight or numbers of whom I have reason to believe is
not great at present in these States ; it is the mighty intered
of all the rest of the inhabitants to prevent a deprecation,
and I conceive every man of estate who has cash in hand, or
due to him, would be willing to contribute his Share to the
lessening our currency, and so preserving its credit. Yea,
would eagerly choose this, rather than risk his own loss by a
depreciation of the cash he has in hand, and in debts due.
In this time of didrefs, the # public has .a right to every
mad's best thought. I have not the.vanity to think I can ex
haust the fubjed, but I have said so much on it, as I hope
will set abler hdads and pens on a thorough disquisition of it,
for I think all will.agree, that the fubjeft is a very important
one, and deserves mod immediate and most Serious attention.
Philad. October 4, 1776. . A FINANCIER.
FRANCIS DAYMON, master of the FRENCH and LA
'TIN LANGUAGES, and Librarian to the Public Li
brary, continues to inftrud gentlemen in the French lan
guage in the mod expeditious method, agreeable to the late
improvements of the French academy. He keeps a regu
lar class every evening for those who connot conveniently
attend in the daytime. -„
The said Daymen lives on the south fide of Market-street,
the fifth door below Fourth-Street, Philadelphia. .
HENRY.-SNELLING, ; WATCH-MAKER from Lon
don, at George Dowig'% Silversmith in Front-street,
near Market-Street, begs.leave to acquaint the public that he l
performs the said business in all its branches, and such as
will please to favour him with their commands, may depend
on his care in executing the fame. He likewise, returns
thanks to such of his friends, who have been pleaded to em
pl y him. .He also fells CHAINS, SEALS, &c.
TO be disposed of, the time of an indented English
SERVANT LAD, who has near four years to serve
Ile has been used to lay the cloth, wait at table, and take
care of a horse. Inquire of the printer.
JUST published, and now felling by J. NORMAN, print
feller and engraver, in Second-Street, near Spruce-Greet,.
Philadelghia, a MAP of the prefect feat of war, with the
harbours of New-York and Perth Amboy. Price two Ihil
'lings and sixpence..
FI VE POUNDS Reward.
VX TENT away yesterday evening, a young Negro woman
YY named HET, of middling Stature; fat and likely,
She had on a blue Walloon jacket and petticoat, white linen
handkerchief and apron, black leather high heel Shoes, fiiver
-buckles, and blue worded dockings with clocks. She took
with her a new check black and yellow dad" jacket and pet
ticoat, a whitejacket and petticoat, a blue and white damp
ed cotton ditto, with sundry other clothes, and has had her
ears bored.for ear rings. The said Negro belongs to a gen
tleman of Maryland, and it is foppofed Cie is concealed in
this city. Whoever brings her to me, at the sign of the
Blueball in Chchiut-bKct, Philadelphia, ffiall lave the,
above reward, MICHAEL CLARKE.