The Connecticut courant, and the weekly intelligencer — Hartford [Conn.], 1778-10-27 00:00:00, page 1

The Old Story, in a different Dress, by a dif
ferent Person.
[Continued from our lad.]
HOW EVE R, as it is the prevailing opini
on that onr paper currency has depreciated
unnecessarily, either by the negligence or wrong
steps of our legislatures, or by the avaritious dispo
sition of the people, or by both, it may be well to
examine this article.
Some fnppofe that a felfifh disposition, or an un
common spirit of oppression among a few traders,
firft began the depreciation, by demanding a high
price for their goods. That this opinion is errone
ous, is evident from this; there is not a greater strug
gle for money since this war, than there was be
fore. Men of every character were always solicitous
to get what money they could; and I suppose that
difference of circumflances alters not the dispositi
on of mankind, that it may present opportunities for
this felfifh spirit to exert itfelf. Bat it was net in
the power of merchants, mechanics, or farmers, ei
ther finely or combined, to enhance the current
price of commodities a single (hilling, while trade
was in a fettled ffate, and money did not overflow.
Che small demand for goods and the scarcity of mo
ney, laid a refiraint upon the inclinations of men,
and obliged item to fell for a lew priee, or not fell
at all. When these restraints are both taken off, that
men should take the advantage, is not in the lead
furprizing; but is an Invincible proof, that the
price of articles in trade depends not on the caprice
es individuals of ary character.
It is an opinion almost general that the uncertain
ty people have in their minds concerning the re
demption of our bills, is another cause of their de
preciation. That this Should have any influence,
is to mt an absurdity. I conceive, that a propped
of the money's finking would wholly check its cir
culation, as every one would refute to take any
quantity either great or small in exchange for any
commodity. It is said indeed, that this uncertainty
®ccafions a brilk circulation, as persons will be a
fraid to accumulate it. This is not true in general,
though it may be in particular indances. The gene
ral Itruggle is for as large quantities as can be ob
tained, a conduA, however, quite inconsistent with
the opinion, that the money is of no value. But the
value cf the currency is not much more than half so
low as it was in the years 1740 and 1741, when
the exchange for gold and silver was 11 for one fter
line. There was then about two millions arid an
half of money circulating, most of it in the four
New-England colonies; which, considering their
infancy, was doubtless a larger sum than there is
now circulating in the states. About two-thirds of
that sum was reimbursed with silver and gold from
Great Britain; the other third was called in by
taxes and destroyed. This currency, like ours, de
precated by degrees during eight or ten years, in
proportion as the quantity was increased by annual
cm ffions. A solid proof that the quantity in cir
culation; independent of popular opinion, will al
'ways regulate the value of money.
One writer who has made his appearance in this
paper, observes to this cffe& : That the quantity of
mo 'ey is much too large is certain ; but that this is
not the principal evil, is equally certain, or to the
fame purpose. He insinuates, that this principal
evil is, the Congress or Assemblies emitting large
Turns of money without furnifhiag means to redeem
if. That this is an evil is certain ; but that it is a
necessary evil is equally certain, It is therefore most
injurious treatment to impeach the wisdom and pru
, dence of our legislative authority in this case. Where,
'in the name of common ferife, can they get means
to redeem our paper currency ! Notes on public
cred.fr, it is true, mast be paid, and will as soon as
a change of circumstances render it practicable ;
at prefect it is impossible. But the money that cir
culates mast but little of it be redeemed with eoin.
Had the Congress gold and silver fufficient to re
deem the whole, it would be a most impolitic flep
ft® throw such a quantity into circulation^ The
TUESDAY, October 27, i„& THE [Number 71^.
CONNECTICUT COURANT,
AND THE
WEEKLY I NTELLIGENCE R.
HARTFORD: Printed by WATSON and GOODWIN, near the Great Bridge.
money, at lead five sixths of it, must be funk by
fame equal and impartial method of taxation ;
and we trust that the Assembly of this state
will, sooner or later, have wisdom enough to invent,
and resolution to adept some mode that shall give ge
neral fatisfadionx
I cannot conclude without making fomt, general
remarks upon a medium of trade.
It is observed by an eminent author, that coin
may be considered as a fluid, which has a natural
tendency to preserve an equilibrium among com
mercial nations. This idea, ftrjpped of the meta
phor, is, that there will be nearly the fame quantity
of coin circulating in all countries mutually connect
ted by trade Fr@m this the fame writer concludes,
that a paper circulation ought never to be made use
of, but upon extraordinary occasions. It certainly
prevents the introduction of gold and silver into the
state where it circulates. Here then we fee the bad
policy of emitting paper bills upon interest, to fap
ply the want of coin in time of peace and flourishing
commerce, as was formerly dope in Connecticut. An
industrious people cannot continue long without a
fufficient quantity of gold and silver, as these metals
are always at hand in some part of the world, to be
exchanged for our manufactures and produce, though
the reftri&ion our trade was laid under, was per
haps in insuperable objection in this refpe&. Too
great a quantity of money is, in the long run, more
pernicious to a nation than too small a quantity. A
superfluity of money raises the price of labour and
msaufadures; by consequence, bars the exportati
on of commodities, introduces luxuries of every
kind, with/heir attendants, indolence and corrup
tion, which depopulate a country like a pestilence.
Want of money involves a nation in debt, and lays
them under the neeeffity of paying iatereft, which
must be taken from the national revenue, which if
the debt be large will prove an insuperable burden.
Though it may be well to observe here, that it is a
cueftion much diluted, Whether a small national
debt be not advantageous ? Want of money likewise
promotes litigations and quarrels among individu
als, and produces frequent bankruptcies. It is for
the interest ofa nation to prelerve the golden mean,
which may be afeertained by considering, that mo
ney ought always to be in greater demand than any
kind of commodity whatever. This is a pretty good
rule when trade is in a fettled state. The King of
Prussia, whose character as a statesman or a warrior
has not perhaps a rival in Europe, always keeps fix
or seven millions sterling in the public Exchequer,
to answer unforefeea demands; at the fame time he
is particularly cautious to preserve a proper quantity
in circulation; all the overplus of money railed for
the expences of government, is laid out upon build
ings, operas, and any thing rather than cramp cir
culation.
BOHBA TEA and ROCK SALT,
MARY CHURCH, near the Court
House in Hartford, has for sale, excellent
Bohha Tea, by the chest. hundred wt. or smaller
quantity 1 Also, good Rock Salt, to exchange
for Country Produce.
BROKE into the pasture of the Subscriber,
about theist of August, a DUN COLOUR^
ED MARE COLT, two years old past, a blaze
in her face, her hind legs white, no brand.
JOSEPH WOODFORD.
Farmington, Oftobe^o, 1778.
BROKE into the enclosure of the Subscriber,
theist inst. a DARK SORREL MARR,
thirteen hands and a halfhigh, about 14 years old ;
something low in flefh, pretty large star in her fore
head, saddle gall'd ; her mane has been eut off and
is about seven inches long, and lies on the left fide,
branded on the left thigh $; paces chiefly, forte
thing apt to ftumbfe and fall down. The owner is
desired to pay charges, and take her away, apply to
JOSHUA WOODRUFF.
Farmington, October §, 1778,
STRAYED or STOLEN from the fubferiber in
Hartford on the night after the /6h inflant, a
Dark Brown HORSE about 14 hands high, na
tural to a pace and canter : Also, a Sorrel HORSE,
14 hands high, natural to a pace, both of them old,
and have been used to the geert. Whoever takes up
said Horses and returns them to the fubferiber in
Wallingford, or inform him where he may have
them, ffiall receive ten dollars reward and necessary
charges, paid by Isaac Doolittle,
October 19, 1778.
BROKE into the enclosure of the Subferiber
a RED STEER, fappofed o be three years
old, branded on his horns AG, The owner may
have him, by proving his prep ry, and paying
charges, apply to
MOSES MITCHEL,
^avd^rd Sept. 28 1778.
BROKE lithe patline or tie Subferiber. the
Bth uh a RED SPOTTED 0 PEER, three
years old, a crop on his right ear. The owner ie
gefired to take him away, and pay rhar;^
benjamin Cantrell.-
BROKE into the enelofure of the Subferiber, in
September last, a CHESNUT SORREL
MARE COLT, two years old, li,ht coloured
mane and tail, white freak in her face, no brand,.
The owner is desired to prove property, pay charges
and take her away.
JEDEDIAH NORTON.
Worthington, OR be: 19, 1778.
TAKEN up by the Su^ciber, on the 6 h
inst, two RED OXEN, one four years old
past, mark'd with a half crop on the left ear, and a
haltpenny under the right; the other mark'd with
two flits on the left ear, a swallow fork on the right
ear, Also two YEARLING HEIFERS, one
marked with a nick the under fide of the right
car, red and white , the other ear marked with
a swallow fork on the left, and a nick ora
the under fide of the right, a yellowish colour
with a white face. The owner by proving his
property and paying charges may have fa 4 crea
tures Michael Dunning.
Pownall, July 6, 1778,-
TAKEN up by the fubferiber some time in Sep
tember last, a BROWN MARE, with a streak
in her face about 6 years old, shod all round, trots
all, about 14 hands high.
Samuel Mfrry„
Hartford Weft Divifien, Oa 16 1770.
TAKEN up by the fubfenb^ on the 26th of
September last, two HORSE,S : one a
dark brewn, 14 hands high, about 5 or 6 years old;
food all round paces and trots, pretty high carri
aged, 3 white feet, branded with the latter M on the
near hoot : The other about 7 Or 8 years of age
shod before, paces and trots, light bay something
low in flefh, short tail, some white in his face, 13
hands and a half high. The owner or owners may
have them, by paying charges and applying to
Asa Carpenter
Mansfield O&ofrr §. 17^8
dLL pefjus taat nave any demands on th: cline
of Richard English late of Lebanon, de
ceased, are once more desired to present thei; ac
counts for payment : Those who are indebted to
said estate by book, note or bond, are desired to fet
tle the fame without delay, as the time for settle
ment is already relapsed. Attendance for the above!
purpose will be given at the dwelling -house of the
deceased, on the firft Mondays of December and
January next,
Thomas Savory, Administrator.
Eriibdom Savory, Administratrix.
Lebanon O&ober 9. 1778
CAbH given for CLEAN CUTToN
and LINEN RAGS, at thr Prin-t
---^n@Offfcb, Hartford,