The Connecticut courant, and the weekly intelligencer — Hartford [Conn.], 1779-10-12 00:00:00, page 1

T UESDA Y, October 12, 1779.'
A CIRCULAR LETTER from the CON-'
GRE^S of the United States of Ameri
ca to their CONST! TURN IS.
Friends end Fellow Citizens !
IN government# ratified on the generous principles
of equal liberty, where the rulers of the fate are
tne fervor of the people, and not the mafias of
thofa from whom they derive authority ; it is their
duty to inform their fellow citizens cf the Bate of
their affairs, and by evincing the propriety of pub^
lick meafoes, lead them to unite the influence of
inclination to the force of legal obligation in render
ing them fuccchful. This duty chafes not, even in
times of the most perfe& peace, cider and tranquili
ty, when the ftfety of the commonwealth is neither
endangered by face or feduA on from abroad or by
fiction, treachery, or mif^u:ded ambition from with
in. At this fcaion, therefore, we hod ourselves in a
particular manner impelled with a fwfe cf r, and
can no longer forbear calling yourattectum to a fub
je& much misrepresented, and impeding which ^n
geroLS as well as erroneous opinions have been held
and propagated ; we mean our finances.
The ungrateful despotism and inordinate of
domination which masked the uona^i d^ns of
the British King and his venal Parliament to unlive
the people of America, redaced.you to die nec^hj
of either affecting your rights by fan, or ii£oNoNl,
puffing under the yoke. You n/b.y primed wy.
Armies were then to be raised, peia and fvpphed:
Money became necessary fortune puip^cq, Of your
own there was but little ; and di no nation in the
world could you then borrow. The bale that was
intend among you could not be col^ri^ - 1 by
taxes, and to this end regular governments were cl
featial ; of these you were alto derihu^.• So cir
cum^anced, you had no other refourcC but the na
tural value a&d wealth of your fertile country. B 11s
were iffiied on the credit cf this b^nk, and your
faith was pledged for their redemption. Alter a
coufiderable number of these had circulated, loans
w&-e Elicited, and offices for the putpefe c^ablUh
ed. Thus a national debt was unavoidably cica
led, and the empest of it is as fellows :
Dollars.
11.11 s emitted end circulating, 159 948 880
Monies borrowed before the rfil
ofMarch 1778, the interest of § 7,545,196 67 90
which is payable in France, )
Monies borrowed <nce theist of)
March 1778, the interest of> 26,188 909
which is payable here;J
Money due abroad, not exactly
known--.the balances not hav- / 000 000
ing been transmitted, supposed < 4
tobs aboutJ
For your farther fatisfiaion we shall order a par
ticular account of the fevetaj emission; with the
time, limited for their redemption, and aifo of the
several loans, the'intereft allowed on each, and t. : e
terms affixed for their payment, to be p^p^ud and
published.
The taxes have as yet brought into the treasury no
none than 3 027,560, so that all the monies Qpl cd
to Congress by tne people of Amci ca amount 0
no more than 36 761,665 dollars and 6, goths, that
being the fam of the loans and taxes received; Judge
then of the neceffiy of emissions, and learn from
whence that necessity arose.
We are also to inform you, that on the firft day
cf September instant we resolved, " that we would
" on no account whatever emit mete bills of credit
' f than to nuke the whole amount cf such bills
" two hundred millions of dollars, and as the
" sum emitted,and in circulation amounted to
" 159,948,880'd011&r5, and the fam of 40 051 120
" dollars, rammed to complex the two hun
«' dred millions above mentioned, we on the third
«' day of September inti, farther resolved, that we
'' would emit such part only of the frid sum of
“ 4°'s' 120 dolors, 3- Should be absolutely neccf
“ fary far public exigencies, before adequate sup
" phe: could be otherwise obtained, relying for
CONNECTICUT COURANT,
-AND THE
WEEKLY INTEL LI GEN CE R.
HERTFORD: Printed by HUDSON AND GOODWIN, near the Great-Bridge.
r filch Applies cn the exertions of the fcveral
'f States.
Exch five of the great and ordinary expenses in
cident to the war, the depreciation of the currency
has so fuelled the price# cf cury necessary aricle,
andef consequence made such addiucor to the usual
amount of expenditures, that very confidcrable sup
plies mufl be immediately provided by loans and tex
© ; and we unaqimoi fly-&c?a!£ it to be efi:n"al to
the welfare ofthefe Stasis, that rhe taxes already cal
led for, be paid into the Contif erital treasury by the
time recommended for that purpose. It is ^lfo high
ly proper that you fhpuld extend your v:ewi beyond
that period, and prepare in fcafon, as well for bring
ing your refpeAive quotas cf troops into the field
e:rly the next campaign as for providing the Sup
plies necessary in the ceurfe cf it. We shall take care
to apprize you fem time to time of the state of the
ti^fury, and to recrmmend the proper meamres for
fu,plying it. To keep yeur ba \lions full to encour
age loans, toa^fi your taxes; tv th prudence, cd.e&
tlara wih fifmnefs. and ,-, firm with pur finality,
is all that will be teqvifne or your port. Further
ways and means for providing for the public ex gen
ces arg new under confidcra on, and will soon be
laid before you.
Having thus given you a Port and plain fi^e of
vour debt, ^, d pointed cut th? receffity cf punAu
> y in fnrr flung thefurphe- already required we
shah proceed to make a fwm/arks on the deprecia
tion cf the currency; to which we entreat year at
tention.
The depreciation cf bilh of r^dit is always cither
natural or anifi rial, or b th. 'e latter u otr case.
The merer ri < fpr b r:-r # rirn exceeded what
wetneefffaryasa rcediomin c< amerce it began and
continued to depreciate in proportion as the amount
of the fvrplus W.c' -eased ; and that pepperriori would
held gcod, until the sum edritt^d fhoold becorre so
great as neariy to # q^l the trine of the cap ^1 or
fiock, on the credit cf vrihrb the blis werc issued.
Suppofiip, 'herefore, tha' 30 occ oco was >fcMT<ry
fir a circulating medium, a/d that 160 cco oco bad
been iffurd the natural dtp %ia' ; on i. hut little mere
than as five to ore : But he aflnal depreciation ex
ceeds that prep^r'iT.. ard t:^t exreft h artificial.
The natural depreciation is to be removed only by
learning the quantity <f rnc^y in c'rcvlaticn. It
will regain iu primitive vrire vherev^r it full be
reduced to the fam necfffuy frr a medium of com
merce. Thit is only to beiflri&tG by leans and tax
The artifr ial depreciation ix a more hr : cur subject,
and merits minute invefligation.' A dir ruff (however
occasioned) entertained by the n^ of the people, ei
ther in the ability or inclination if the United
State, to rturn their bill is the cause of it.„ Ift
us require how f^ reafen willjuflify a difiru^ in the
ability of he United Styles.'
The abib ^of the United States ^ depend on
two things; First the fuccefs'of ' he prefect revoluti
on ; and icondly, on .the (efficiency cf the natu
ril wealth, vU^e and refoiirces of the country.
That the ^ma ha* been when bonoft min might,
wi'lrut benz c' affable with timidity, have doubt
ed rie f f ueh # 4 prefect revolution, we admit ;
bit th^ i + iod : - ^M, The independence cf A
mr:c? ^ now : rx c % . fate, and the ffuhnt efforts
Britain 1 1 arc as vain and fcuitlefs
ar tfr ft : ,r<f . ^wv - bich beat against tl eir
chf? £ -''thf r •. ':'h ^ a?dwi'hthefedcubts
Let them t^m • ' ^conta dag a^ainfia
k%&m <rnd , ^?^ ; ration without
public v^^ ; cdr:^ ^l^c^dbetydby
their bwh r„ re; ;^ ^ft4 pp cepern
rd by hi? pf -<.ir ^y without confide; ce
or wif&m; ^c ^ 'mih half paid and perrals
h^rtif^^ : x^?v„iFrre fl + equal or I, to plat s
cf flundt c hv^ "and minder--afcvOTmcut
bv ibe mrift - pxus violations es the rights of r@h--
£ion,j'hife < nmarhy and mankind, ccurtirg 'lie
vengeance of ri + vrb/a^d revolting from ^e pro
tection of Province. A^iuft & fasyof these e;
^HE
nemies, you made fuccefiful refinance, wleo finfle,
alone; and fricndleh, in 'he days cf weakneß and
infancy befcie your hands bad been taught to war
or your fingers to fight. A>d cam there be any tea
fon to app ehend tlat the Divine Difp^fcr cf human
events after having separated us from the hcufe of
bondage, ard led us fafe through a sea of blood, to
wards he land of liberty and promise. will leave the
wo'k four p litical redemption urfio ihed andeither
permit us to perrih in a wildemefs of c fficulties, or
feffar us to be carried back in chains to ;hat country
of opp tffion, fiem whole tyranny he hath merciful*
l, del vered us wuh a Wretched c^t aim ?
la cleft alliance with one of the most powerful na
tions in Europe which has generously made cur
caufeher own, in amity with mai y others and en
joying the gocd will of all what danger have we to
fear from Britain ? Infead of acquiring ac<tffi ns cf
territory by cerq^fi, the limits of her empire daily
central : her fleets n® longer rule the ocean, nor are
her armies invincible by land. H w'many of her
fandards, wrested frem the hands of her champions,
are among your trophies, and have graced the tri
umphs of your trerp land how great is the number
of those who, sent to bind you in fetters, have be
come your c ptives, and received tfe.r lives hem
your Lands ? L, fhurt, whoever cm u^ers that there
fates are daily encreafing in power ; that their ar
mies have become veteran; that their governments,
founded in freedom ar? e.%bl fhe.d , that their fer
tile county and their affea cna<t a ,y furr.fh them
with zrrp'e fupphes;°that the Sp nifh monarch wea
prepared for war, with fleets and, armies ready for
combat, end a treefury cvt fl wing with wealth,
Lav entered the lifts a,ainft Britain ; that the other
Biropen motions, cf^n (Mtlied by her pride and
alarmed by the Erides cfher ambrac,. have us bar
to her fate; that Ireland, wearied with her oppt^.
ons. is panting fur liberty, and even Scotland dif
pl^afed aud uneasy at her cd £U :--Whoever coi
ders these things, infead of doubting the if ecf ue
war. will rejoice in the glorious the fare and ceriain
profpe& cf success.
This point being rfallfhed; the next question is
whether the natural wealth, value and refenue of
the country will be equal the payment of iht.debt?
Let us suppose for the use of ergurrent, tl , st at
the concinfion cf the war. the cmiffivus should amount
to 200,< oo coo, that exch five cf f pplusferntax
er, which will not be Ire 1 fidcrab.e, the leant fhnnld
amount ico 000 cco then thewhcle oatirnal cebt
of the United State would be 300 coo 000. There
arc at p*e(ent 3 oco 000 cf inhabitants in the thir
teen Rates ; thieo hundred mriboß cf pollers divided
among three million cf people would give to each
perlon one Lurched dollars ; and is tuere an indivi
dual in America unable in thec^ufe cfc,l;e r ^ or
twenty years to gay it a^ain ? Suppefe the w^c^e
debt afetfed, ^ itcefu^ be. on the in! abitant? >a
proportion to their refyavo eflatefy^wha would
then be :he fh^e of the poorer people ? Pe hap. net
ten dollars. Befider as this debt will rot be p-ya
ble in : mediately, butprebab y wenty years allotted
for it, the number cf inhabitants by that time in
America will be far more than double their present
amount. It is well known that the inhabitants cf
this ccunhy encreafed almcfl in the ratio cf cerite
pound intertft. By natural population they doubled
every twenty yesrs. and hew great,may betl e heft
cf emigrants from kith er coun tries cannot b^e ascer
tained." We have the hi^heft rcafon to believe the
number will be immense. Suppose that only ten
thousand fficuld arrive the firft year after tie war,
what will these ten thcufand vih I n r families
count in twenty fearstime ? -probably dcub e the
rumbrr Thhebfeyatien sppl QW I pt portion,
able forteto the em'graniscf every fuceffive year.
Thus yen fee great part if your debt vill br payable
net m^ly Ly the p'cf nt ri enter of in! at 'sntr,
but by tha number Swelled ard encresfed ,iy the
natural p f pul^tion cf 'ft ptfert iiLab tarts, by
multitudes c; emigrants da ly aarv rs from ether
countries, and by the nati r^l p°p l'"on cf riofe
feceeUve emigrants ; so th^ every perfon't Bare
NUM^E R 765;