The Connecticut courant, and the weekly intelligencer — Hartford [Conn.], 1779-12-21 00:00:00, page 2

Articles imported from foreign parts,
to be in due proportion with labour, and
the articles as above stated, making a pro
per allowance for freight, insurance, and
other charges.
Salt and military stores, whether of
home manufacture, or imported from a
broad, to be excepted from limitation of
price.
Refolded, That it be recommended to
the several States to enaCt ftri6t laws a
gainst engroffmg and withholding; and
to take the necessary measures for having
the fame carried into full execution.
Refolded, That all officers and agents
employed in making purchases for the U
nited States, be directed to conform ftriut
ly to all regulations that are or may be
established in the several States.
That accounts be kept, and returns
made by all persons employed,to make pur
chases in behalf of the United States, or
to hire vessels, carriages,, or men, for the
service of the fame, of the prices by therti
refpedively given in such States as shall
not before the firft day of February 1780,
pass laws for the limitation of prices a
greeable to the recommendation contain
ed in the foregoing resolutions, to the in
tent that such States as shall have neglect
ed to pass laws for the purposes aforefaid,
may refpe&ively be charged in the public
accounts with the agregate amount of the
difference of prices paid from and after
the said firft day of February 1780, in
such States, and those in which such laws
may have been enabled.
Extract from the minutes'.
Charles Thomson, Secretary.
The following letter is irferted by particular desire.
From the NEW J'ERSEY JOURNAL.
LETTERS on our P A PERCURRENCY.
LETTER 111.
OU R next enquiry is, what is right
and bed to be done in the present de
preciated state of our currency ? This is
an important enquiry, and to pursue it pro
perly in theory and practice, we should lay
aside all felfifh, mercenary principles and
views. The public good must be regard
ed, not the private imtereft of particular per
sons here or there. In regarding the public
good, I allow, should be comprehended the
future credit or reputation of these states ; ;
alfojuftice and equity to particular persons,
as far as possible. In all such cases, some
particular persons will unvoidably fuffer
more or less. No law or proceeding cah l
equally salve every instance. Justice ahd
equity to particular persons, and the good
of the whole, jointly, should be regarded,
and should regulate the conduct in such
cases; always remembering that when both
cannot be equally regarded, the 'private
must yield to the public.
A proper view of the nature of the case,
and the reason of things, may lead us to de
termine what ought to be done. I shall
firft mention the plan or method, that we
may have it in view, and then so far as it
does not of itfelf afford light and fatisfac
tion. I shall fay something upon the rea
son and nature of the case.—The method
plainly is this, after two or three more
large taxes in a short space of time, our
present paper money must be struck off of
its legs ; must cease to be a currency, and
be properly redeemed.--- Other paper mo
ney, of a different fort, should be made in
of depreciation. This, with the ten mil
lion of hard money, might be a fufficient
currency for a short time. If trade should
increase, and hard money circulate, ten
million of dollars more in paper might be
emitted in two or three years, and there
be no danger of depreciation while half or
even a third part of so much hard money
continued circulating, Our present con
tinental money must, doubtlefe, be struck
dead, so as not to be a circulating medium;
and it must not be loft to the owners'. The
enquiry then is, in what manner shall it be
redeemed, and what shall the owners re
ceive for it ? I answer, in proportion to
its worth when it was funk dead, and in
proportion to its worth when put tato the
public funds. Suppose when it is struck
dead, the exchange is twenty for one. Sup
pose ten million of dollars, new money, as
good as silver, issued ; the old money
should be brought in and exchanged for
this at twenty for one. Suppose there
ffiould be then extant one hundred and fif
ty million of dollars old money, seven hun
dred and fifty thousand of the new money
would exchange and burn all the old at
twenty for one; and two hundred and fifty
thousand new m^ney would ' be left to pay
debts, &c. The nxt e tyuiry is, how the
debts are to be paid, and what those are
to receive who have put money into the
continent! tralury ? I answer; in propor
tion to the value of the money when they
put it in, viz.-Those who have put in with
in one year last past should receive 1 for 15
or 20, that they put in.- All those that
put into the funds in the year 1778, should
receive 1 for 4,6, or 8, that they put in ;
those that put into the funds in the year
1777, should receive one half, i. e, 1 for z;
and all that put in before 1'777, should re
ceive the whole, i. e. dollar for dollar.
And every legillature should order the
private debts between man and man, to be
paid in the fame manner or something si
milar. If the Congress have, in any par
ticular instances, stipulated to pay, in a
particular manner, those engagements must
be made good, and the country will fop-
port them in it.
Should this proposal take place nc:s, all those
persons who have money which they have obtained
within one year, whether in trade, for labour, or
country produce, have obtained it so cheap ahd ea
fy, that one silver delta, or one dollar of the new
money proposed, would be as good to them as fif
teen or twenty dollar* of the old money which they
had in hand, and there would be no rteafon why they
should receive more for it, because they gave no more
for the old money which they lately obtained.
There will be objeßicns, by interefled men, to
what her been proposed. Some may fay thy have
bad money by them several years. expelling it would
be made good. I answer, if they have had money
by them in a courft of trade, femetimes receiving ad
vantage of it; but if they have had it laying dead
by them, they deserve to bear the loss ofthe depre
ciation, becar f 4 they did not put it into the public
funds, where it was so much Wanted, and where
they would, in the end, receive the value of it ac
cording to what it was worth Wh^n they put it in.
Another objection is, that many widows, orphans,
and others, who had money at interest in the coun
try, have had it paid in and been obliged to receive
it according to the nominal sum, when the difeount
was two, four, fix, eight, or fifteen for one, and have
so small a quantity that it will not be in
danger of depreciation. I will suppose there
is the value of ten million of dollars hard
money in these thirteen states, now laying
dormant, which might be drawn but into
circulation. If the value of ten million of
dollars, new paper money,fhould be struck,
and only that sum in paper, be allowed to
be in circulation, there would be no danger
pat it into the continental berfaiy hoping ft %.;%
be made rod. It is thought hard that thof p^fco.w
sh mid loft so great a part of their estate, as thy mafil
by the before mentioned proposal. I acknow cd,e
this an hard case- Many have fuffered in this man
ner; nfany who have had their money thus paid in'
to them, have been obliged to live upon it, and spend
all the, had in a &srt time, by reason of the depre~
cation. Those who have put their money into the
continental treafory, will not fuffer more than others
who have been obliged to spend it. There is no
scheme or plan that will remedy every case ; that is
best, that is bed upon the wh&; and it is proper to
observe that the fams of money of this fort put into
the treafur,, are very incor.fidurable, compared with
the whole that is to be redeemed ; and it is not rea
sonable that the whole should be raised to ten or
twenty times its value, for the fake of such an in-'
cjnfiderable part. But concerning this hard cafeg
and those fuffcrers, I may fay something in my next,
which Idefign shall be my last letter. Anoiherob
jr&#on is, that this proposal would not releave our
difficulty, because the sew money prepofed would
beliable to deprec ate as the other has done.-- 1
answer, there '5 # no fort of danger, if there is not mere
paper money made than will be a farce medium of
trade, togs her with the hard money that is in the
country. L a few persons should scruple the Few
money feta time, it would have no considerable
effed ; the country should soon find the utility of
it, and use it so es to put it out of danger. There
should be no la^ made to punish any that should
Pitler hard m npy to the new paper money ; this
would impy a fcfpiciotLU^t the money was not
so good. Let every one do aslcfeafed ; the coun
try would soon find ita interest : Yet the new m -
ney should be made a lawful tender &c. - If no more
than ten million war firft struck, it would fecote its
credit; and after' the increase of trade and circulati
on of hard money, its furh mi^ht be gradually in
creased to twenty million, and this would fr o di c e &
fund that would help us in any of our public affairs ;
whether for a defenfive navy or any thing rife, then
found to be necessary.
There are several other obje&rons, but they a~ecf
so little weight, and so easily ciliated, that it it
needless to spend time to answer them. I haveto
observe, that ?f the old money, now paying in by
Brge taxes, cah be burnt nearly as faft as paid in, it
would be proper, before it flops circulating, to let
our people have the advantage of paying two or three
large taxes, while they can get money cheap and ca
fy ; bu'if what is paid in is not burnt, but again
paid out to support public expences, then the feeder
the above mentioned proposal takes place, the better,
tha cur money matters r% be fixed, and no longer
fbauating.
I am morally certain, that ferhething fimihr to
what I haveabove proposed, must and will in the
end take place with r^peß to our pap?r currency;
and I may venture to assure those who have had a
dependance neon its being restored to its crigipat
value, that they will be disappointed ; butthey £iiil
net be disappointed cf what they have & ju^ reason
to expels aad ri^ht to receive. At to the gradual
ificreaft of the value, and appreciation of our p~p.tr
money by the gradual demirution of ths quantity,
it is a chimera, and will never take place ; arid that
for more Lafons than I h,ve now time to mention,
and which I should think are obvious to men of pe
netration, and acquainted with politicos and ocm-'
nierre. E UMENE S.
MOLASSES and 4 SUGAR
of the very belt quality,
TO be exchanged for Wheat or Flour, by
DANIELHINSDALE jun. next doer
north of the Printing Office, Hartford.
Dec. 21, 1779.
'U, Ethe fubferibers, being appointed Cemmif
,f fioners, by the Hon. court of Probate, far
the difttia of Simfbury, to examine and adjofttha
claims of the creditors, to the estate of Daniel Barber,
late of Sjufb try deceased, (represented insolvent;)
do hereby give notice, that we shall attend fiid bu
fineft at the house of Mr. Jof ph Humphrey, in said
Simfbury, on the lai 1 huflay of December inflanQ.
and the last Thursdays in January aud March next,
at noon on each of said days.
DANIEL HUMPHREY,)
BENJ FARNHAM, fCommiffiohem
, DUDLEY PET TIBONE.)
December 16 1779.
TAKEN UP by the Subferiber, in N )v .ia%
a Dark B?o^n HORS E, about 4 years cld„
thirteen bauds and a half high; trots ano paces, no
brand. Theorem is desired to pay cherges and
take him away.
ALLEN SEYMOUR,
Hartf^d, D:c. 14, <779.