National gazette. (Philadelphia [Pa.]), 1793-03-09 00:00:00

National Gazette.
By P. FRENEAU: Published WEDNESDAYS and SATURDAYS, at THREE DOLLARS per annum.
NUMB. 38 of VOL. II.]
SATURDAY, March 9, 1793.
[Total No. 142.]
Report of the Secretary of the Treasury, relative to the Loans negotiated under the Acts of the 4th and 12th of August, 1790.
[Continued from our last—and concluded.]
TO the foregoing representation, it may seem an objection that the purchases to the end of 1791, appear to have been carried to the account of the surplus at the end of 1790.
The ultimate form which it has been judged convenient to give to the transaction in the accounts of the Treasury, cannot change what was truly the course of facts. The proceeds of the above mentioned surplus and of the foreign loans formed together the fund for purchases. In the accounts of the treasury, the thing was susceptible of various modifications at pleasure. The two parts of the fund might have been united in one account, or divided into distinct accounts. Being separated, monies issued for purchases might have been legally carried to either of them.
It was judged most advisable, in the forms of the treasury, to place the purchases to the end of 1791, to the account of the domestic fund, because it was calculated to give greater latitude and energy to the sinking fund. Had not this course been pursued, the business would have taken the following shape—the foreign fund to the extent of the purchases, would have been exhausted—the whole, or the greater part of the surplus of 1790, would have continued wrapt up in the expenditure of 1791, not liable to be liberated, till the receipts into the treasury should yield a correspondent surplus beyond the actual disbursements —which could not have been the case, while the war with the Indians continues to call for extraordinary expenditures.
From the form into which the thing has been thrown, the foreign fund has been set free to be applied to further purchases; and a necessity produced of anticipating the outstanding duties, by temporary loans for the current service.
I trust there can be no doubt, that the course pursued was regular, and within the discretion of the department. I hope also, that it will appear to the house to have been the most eligible. The expediency of giving the earliest and greatest possible extent and activity to whatever concerns the sinking fund, will, it is presumed, unite all opinions.
What has been said hitherto respecting the employment of the foreign funds is applicable only to that part of it which was drawn for prior to April 1792; the residue standing in a different situation and requiring a separate examination.
From the statement which has been given, it may be perceived that the fund in question has neither been idle nor useless. A confirmation of this will be found in the following details.
The whole sum successively received on account of Amsterdam bills up to the 17th of August 1791, was 361,391 dollars and 34 cents. The amount of the monies invested in purchases prior to that day was 250,000 dollars, chiefly by anticipation of those receipts.
The whole sum successively received on account of Amsterdam bills from August 17, 1791, to March 1, 1792, was 408,722 dollars and 69 cents. The amount of the monies invested in purchases between those periods, was 349,984 dollars and 23 cents, chiefly in the month of September, and by anticipation of those receipts.
The whole sum successively received on account of Amsterdam bills, subsequent to the 1st of March, and prior to July, 1792, was 235,412 dollars and 33 cents. The amount of the monies invested in purchases between those periods, was 242,688 dollars and 31 cents.
It was stated in my first letter, that 177,998 dollars and 80 cents, of the proceeds of the foreign bills were left in deposit with the bank of North America; and in a note upon statement B accompanying that letter, the occasion of it was shown to be an advance without interest, made by that bank, for the use of the department of war; which could not yet be covered in consequence of a doubt still remaining, whether the fund appropriated for satisfying that object, was adequate to it, the sufficiency of that fund depending in part on certain unexpended residues of antecedent appropriations, which it was expected would not be finally necessary for satisfying the purposes of those appropriations.
It is to be remarked that the delay of the employment of this part of the pro-
ceeds of the foreign fund, has been compensated by a saving of interest on the sum advanced by the bank, which otherwise must have been procured upon a loan with an allowance of interest, probably at the time of the advance, at a rate of 6 per cent. so that even in this particular, the fund, though temporarily suspended from its destination, has not been idle or unproductive. I reserve for another place some additional observations and statements, which will be calculated to shew, that opportunities of investing the monies at any time on hand applicable to purchases of the debt, were not suffered to pass unimproved, and that as much in this respect was done as the state of the treasury and the state of the market would permit.
It has been said, that a distinct examination would be proper with regard to the bills which have been drawn upon the foreign fund, subsequent to March, 1792. I proceed now to this examination.
The expediency of what has been, in this respect, done, seems to have been called in question, under a suggestion that an application of the fund to purchases had ceased to be advantageous.
The drawing of these bills has been at different periods influenced by various considerations. A leading motive was always the purchase of the debt. And a correct view of the subject will, I doubt not, satisfy the House, that the measure was recommended by an adequate prospect of advantage.
It is to be observed that all these drafts were predicated upon the two four per cent loans; being as already stated real 4 1-2 per cent loans.
There was good ground to presume, that opportunities would be found of investing the monies drawn for in purchases which would yield at least 5 per cent. with a possibility of doing still better. The difference of 1-2 per cent. was alone an object of importance; but it would be coupled with the further benefit of reducing a principal sum materially exceeding the sum invested. When the three per cents are purchased at 125 in the pound, there is not only a redemption of an annuity of 5 per cent. but a sinking of a capital of 20s. for 12. And though this might not be material, if the market rate of interest should never fall below 5, because in that case the three per cents might always be purchased at the same rate; yet if it should at any time happen, that interest fell below five, it would be a gain to the government to have purchased at 5, in exact proportion to the difference between 5 and the then market rate. Add to this, that the price of 3 per cents have generally a value in the market more than proportioned to the income they produce, which arises from the capacity of the capital to appreciate even to par. These observations are also for the most part applicable to the deferred, with this circumstance in addition, that when interest begins to be payable on that species of stock, the money invested and which in the mean time would have produced five, would then begin to produce to the government 6 per cent. with the advantage of having anticipated the redemption of a species of stock of eight only gradually redeemable. Combining these considerations, it appears to be clearly and even eminently for the interest of the government to purchase within the limit suggested, with a fund which does not cost more than 4 1-2 per cent.
That this was the view of the subject which governed, is deducible not only from the circumstances of the fact, but from my letter of the 2d of April, 1792, to Mr. Short, announcing my intention to draw, in which I assign as the ground of that intention, "that I considered it for the interest of the United States to procure purchases of the public debt with monies borrowed on the terms of the last loan," meaning the loan of the 1st of January 1792, at 4 per cent.
If the event be taken as a criterion, the anticipation will be more than justified, the present juncture offering an opportunity for purchases peculiarly advantageous.
But without insisting on a state of things occasioned by extraordinary circumstances, it was morally certain, that the common course of events would render the operation a beneficial one. And it would not argue peculiar foresight, if a calculation was even made on the effect, which the situation and probable progress of affairs in Europe might produce upon our market. A pretty general war there, by extending the demand for money would naturally divert from our stocks a portion of what
might otherwise be employed upon them and affect injuriously their prices. It is also a familiar fact, that during the winter in this country, there is always a scarcity of money in the towns; a circumstance calculated to damp the prices of stock.
A consideration, which collaterally influenced the drawing of the latter bills was the situation of the French colony of St. Domingo.
This not only produced an early application for a considerable advance, which was promised; but it was to be foreseen, that still further aids would be indispensable.
Indeed sundry letters from Mr. Short, the first dated at Paris, the 28th December 1791, announced the daily probability of an arrangement, requiring an advance here of 800,000 dollars for the use of that colony. A sum of 4,000,000 of livres has in fact been successively stipulated for that object, the greatest part of which has been actually furnished.
It is known, that these supplies could proceed from no other source than the foreign fund.
The payment to the foreign officers of near 200,000 dollars, by which an interest of 6 per cent. would be released, was another object for which provision was to be made out of the same fund.
These several purposes conspired with the object of purchasing the debt to induce the latitude of drawing, which took place.
But there was still a further inducement which came in aid of the others. The time for reimbursing the first instalment of the two millions of dollars due to the bank was approaching, when by positive stipulation, the government would have to pay two hundred thousand dollars, for which there was no domestic fund, that could be spared from the current exigencies. I thought it incumbent upon this department to have an eye to placing within the reach of the legislature the means of fulfilling this engagement; the object of which bore a strict analogy to that for which the two millions authorized by the act making provision for the reduction of the public debt were to be borrowed.
I did not even scruple to take into the calculation, that if from the extent of the draughts upon the foreign fund, there should happen to be found on hand a larger sum than was necessary for, or could be advantageously employed, towards, the several purposes which were the immediate and direct objects of the operation, the surplus would facilitate to the government a measure manifestly and unequivocally beneficial—an additional payment to the bank, on account of a debt, upon which an annual interest of 6 per cent. was payable; a measure by which a certain saving of one per cent. to the extent of the payment that might be made would be accomplished.
The possibility of this application of the fund afforded a perfect assurance, that the public interest could in no event fail to be promoted.
I felt myself the more at liberty to do it, because it did not interfere with a complete fulfilment of the public engagements in regard to the foreign debt. It could be done consistently with a full reimbursement of all arrears and instalments which had accrued on account of that debt.
The detail which has been given comprehends a full exposition of the views and motives that have regulated the conduct of this department; in relation to those parts of the proceeds of the foreign loans which have been transferred to the United States, except as to the last sum of one million two hundred and thirty seven thousand five hundred florins, directed to be drawn for on the 30th of November last; in regard to which, circumstances of a special nature co-operated, as is explained in a note upon the copy of my letter of the 26th of that month, to Mr. Short, forming a part of the communication herewith made by order of the President of the United States.
The House will perceive, that the variety of matter comprized in this letter has not been collected and digested into its present form, without much labour and an unavoidable expence of time. I trust they will be sensible, that no delay has been unnecessarily incurred. It is certain that I have made every exertion in my power, at the hazard of my health, to comply with the requisitions of the House as early as possible. And it has even been done with more expedition than was desirable to secure the perfect accuracy of the communication.
Yet I have still to regret that some part of the subject must remain to be presented in a subsequent letter. To lessen however the inconvenience of this further delay, I shall transmit with the present letter, the statements required by the first and second of the resolutions of the 23d of January, which will be found in the schedules herewith marked No. I to V; those required by the last of the resolutions having been already forwarded.
There remain, however, some particulars to complete the information contemplated by those resolutions, that must be reserved for another communication. This I may venture to assure the House will not be deferred beyond the present, or at least the first day of the ensuing week.
With perfect respect, I have the honor to be SIR, Your most obedient And most humble servant, ALEXANDER HAMILTON, Secretary of the Treasury.
The Honorable the Speaker of the House of Representatives.
[From the General Advertiser.] Minutes of the Enquiry into the official conduct of the Secretary of the Treasury on several of the Resolutions moved by Mr. Giles.—Thursday, Feb. 23.—The House in committee of the whole, Mr. Muhlenberg in the chair.
Mr. GILES, the original mover of the resolutions, rose. He was sensible, he said, that he stood in a peculiarly delicate situation, in which nothing short of the public good could have induced him to place himself. If a public and highly responsible officer had violated the laws, it was necessary that he should be called to an account for it; and to determine whether in the instances before the house he had been guilty of that violation, it is necessary to compare the testimony with the facts alleged in the resolutions before the committee. He first adverted to the law authorizing the President of the United States to borrow 12 millions of dollars for the purpose of paying the foreign debt. On this he remarked, that the authority of borrowing was expressly given to the President, no doubt with an eye to the personal virtues of the character who fills that office; the loan is also directed to be made, solely for the purpose of paying the public debt. Here he remarked, that in every appropriation law, the appropriation is always emphatically mentioned, which is an evidence that the legislature intend to remain the sole judges of the applications of money. He read a letter from the Secretary of the Treasury, who was employed by the President to negotiate this loan, to Mr. Short, the Secretary's foreign agent for this purpose, dated the 9th of May 1791, in which the Secretary informs Mr. Short, that one million and a half of the money he had obtained on loan was destined for France; of which sum he was authorized to apply immediately one million, but to reserve 300,000 florins to answer subsequent directions, he should receive from the Treasury. He cited this passage to shew that the million and a half which had been obtained on loan, was destined for France.
To remove any doubt that might remain upon this head, he referred to a preceding letter from the Secretary to Mr. Short, dated the 13th of April, in which it is also expressly said, that of the two millions borrowed, one million and a half is intended for France, the remaining half million to wait for further directions. Having established this point, he adverted to the resolution before the committee, which says, that he applied a portion of the principal borrowed to the payment of the interest falling due upon that principal, without being authorized so to do by any law. To shew this he referred to a report of the 3d of January, containing sundry statements respecting foreign loans. That part of the report to which he alluded in proof of the fact, stated in general terms, a sum paid on account of foreign loans, and this sum was taken from the principal borrowed, and amounted to 1,833,189 florins. If this statement was accurate, the fact he wished to establish was, he said, proved. He wanted more light, however, he confessed, than he could collect from the Secretary's official communications. He should not go into the examination of what circumstances might have induced the Secre-

tary to deviate from the positive injunctions of the law, or to make any remarks upon his conduct until he had heard what gentlemen would say to controvert the fact he wished to establish.
Another fact of consequence he wished to prove, viz. that part of the money obtained on loan in Europe had been drawn over tho' not wanted here for any public purpose; this appeared, he said, from other papers. He turned to the instructions from the President to the Secretary of the Treasury, authorizing him to borrow 14,000,000 of dollars, in which the Secretary is cautioned to keep in view the two several acts authorizing the loans, and the distinct conditions they contemplate. By the instructions of the President the Secretary is authorized to apply the monies. In the execution of the trust confided to him, the President generally directs him to employ Mr. Short to negotiate the loans, to borrow in the manner prescribed by the acts, and to discharge immediately the arrears of interest due to the French, to which purpose and to the complete payment of that debt the 12 million loan was altogether appropriated. If this money, then, was shewn to have been drawn here, it was neither warranted by law nor by the President's instructions. The Secretary did begin to draw as early as 1790, and had continued to draw from time to time, till 1793, without giving notice of this to the Legislature. Having shewn that the Secretary had drawn without authority to draw, he next proceeded to consider the purpose of those drafts.
The money thus drawn for was not, he stated, applied to the purchase of the public debt, no money obtained from foreign loans was thus applied until this year, the domestic resources appropriated to this object were never exhausted. These were the facts involved in the first resolution, which he wished to establish; before he proceeded further in the discussion, he wished to hear what gentlemen had to say to controvert them. He wished to see justice done in the business before the house: he wished justice, also, to be tempered with moderation and mercy, and if gentlemen could shew a necessity for the deviations from positive law which he had endeavoured to point out, it would exonerate the Secretary from a very great share of blame.
Mr. Barnwell called for the reading of certain parts of the two acts authorizing the loans. One, of the 4th of August, authorizes a loan of 12,000,000 to be obtained without limitation as to the interest, for the purpose of paying the foreign debt, the other is of the 12th of Aug. for 2,000,000; the interest to be not more than 5 per cent. and for the purpose of reducing the domestic debt.
Mr. Sedgwick, to disprove that the drafts alluded to had been made without the knowledge of the legislature, called for the reading of the President's speech to both houses on the 8th of December 1790, and a subsequent report of the Secretary of the Treasury to the same point. By this it appeared that the power of borrowing having been exercised under the joint authority of the two acts, the Secretary states a difficulty that had occurred to him on the subject of the drafts alluded to.—The money having been obtained on an interest of five per cent. exclusive of doucours, he wished the legislature to determine whether it might strictly be considered as borrowed under the second act, which limited the interest at 5 per cent. This was sufficient, he conceived, to shew, that the legislature were not ignorant of those drafts, and an act was passed solving the Secretary's doubt, and sanctioning his construction of the law.
Mr. Giles remarked, that he had drawn before that sanction was obtained.
Mr. Fitzsimons observed on the first charge in the resolution, that as the interest of the money borrowed in Europe is payable where borrowed, it was economical in the Secretary to pay that interest with monies there, which were to be drawn here, and replace the sum by taking the amount from the funds here destined for that payment. A financial operation of this nature is simple, and saves the trouble of drawing with one hand and remitting with the other. He conceived there was no just foundation for the first charge.
Mr. Lawrence said that when the resolutions calling for information from the treasury department were first brought forward, the public mind was impressed with an idea, that there were monies unaccounted for; this charge is now dropped, and it is honorable to the officer concerned that after much probing nothing is found to support it. The enquiry now is, whether a debt was paid out of this or that fund. He did not admit the fact, that it was paid out of any other monies, than what law strictly warranted. He went into a history of the business from its origin. He stated the nature and purposes of the loans. There was nothing to prevent the President, he said, to consolidate the two loans, provided such an arrangement did not interfere with the purposes intended by them. The President employed the Secretary to obtain the loans under the joint authority of both acts, as it was found that the object could best be carried into effect by such an arrangement. The
money thus borrowed, became subject to the appropriations of both acts, and not exclusively for the payment of the foreign debt. Then as part of that money was subject to be drawn here for the redemption of the domestic debt, and the interest of the loan was to be paid with domestic funds, it was perfectly reasonable to avoid further drafts and remittances, to pay the debt there with money there, and replace it here with money already here. The fact stated in the first part of the resolution is by this plain state of the case substantially refuted, and appears altogether unfounded; but if the fact is proved, what is implied? No injury to the interests of the community; the intention of the legislature has been in every point fulfilled. If the Secretary had acted differently, he would have been guilty of an absurdity, and to blame for sacrificing the public interest, and neglecting the spirit of the law for a strict and unprofitable observance of its dead letter.
Mr. Sedgwick by adverting to the speech of the President and report of the Secretary, had shewn, that the legislature had been made acquainted with the drafts, and sanctioned future ones on the same principles. The latter part of the first resolution criminate the Secretary for making them without instructions from the President. Even if this was the case, he did not know whether this was really reprehensible. He defended it on this ground, that the Secretary is the officer appointed by law to superintend the finances and apply all monies agreeably to appropriations. He took a view of the business as stated by Mr. Lawrence, and concluded by asking, whether if the Secretary was found on a critical examination to have deviated in a trifle from the letter of the law, such a deviation was sufficient to warrant the alarm being sounded from St. Croix to St. Mary's, and whether the precious time of the house, at the close of the session, with a variety of business on their hands, would be taken up in an unprofitable and frivolous investigation.
Mr. Giles said the transaction alluded to by the gentlemen to controvert the fact laid down in the first part of the resolution before the committee, was not so immaterial as they had endeavoured to shew it. It was not merely a financial operation to avoid the necessity of drawing and remitting. The truth was, that the Secretary had drawn over near 3,000,000 of dollars. The President's authority was limited to 2,000,000.
Mr. Lawrence was of opinion, that if the President, or his agent, had drawn the whole amount of the money obtained under both loans, he could not be said to have gone beyond his authority. He was authorized to borrow 12,000,000 to pay the arrears on the foreign debt, and to modify the whole. In the execution of this trust he might have found it advisable to draw to the country the whole of that sum. It had been found advisable to draw for part, and to pay the French by shipping produce to St. Domingo. If the money expended for supplies to St. Domingo is deducted, the balance will be found less than 2,000,000.
The committee reported progress, and obtained leave to sit to-morrow. (To be continued.)
For the NATIONAL GAZETTE.
NUMBER V.
IN support of the doctrine, that public credit and funding systems are impolitic and ruinous, it may be also proper to quote the opinion of Mr. Hume; this celebrated historian, when treating on public credit, observes, that it appears to have been the common practice of antiquity, to make provision in times of peace for the necessities of war, and to hoard up treasures beforehand, as the instruments either of conquest or defence; without trusting to extraordinary impositions, much less to borrowing in times of disorder and confusion. The wiser Emperors of Rome, Augustus, Tiberius, Vespasian, Severus, &c. always discovered the prudent foresight of saving great sums against any public exigency.
On the contrary, our modern expedient, which has become very general, is to mortgage the public revenues, and to trust that posterity will pay off the encumbrances contracted by their ancestors: and they having before their eyes so good an example of their wise fathers, have the same prudent reliance on their posterity; who at last, from necessity more than choice, are obliged to place the same confidence in a new posterity. But not to waste time in declaiming against a practice which appears ruinous beyond all controvery, it seems pretty apparent that the ancients maxims are, in this respect, more prudent than the modern; even though the latter had been confined within some reasonable bounds, and had ever in any instance, been attended with such trugality in time of peace, as to discharge the debts incurred by an expensive war.
If the abuses of treasures be dangerous either by engaging the state in rash enterprizes, or making it neglect military discipline in confidence of its riches; the a-
bus of mortgaging are more certain and inevitable; poverty, impotence, and subjection to foreign powers.
It is very tempting to a minister to employ such an expedient, as enables him to make a great figure during his administration, without overburthening the people with taxes, or exciting any immediate clamours against himself. The practice, therefore, of contracting debt will almost infallibly be abused, in every government. It would scarcely be more imprudent to give a prodigal son a credit in every banker's shop in London, than to empower a statesman to draw bills in this manner upon posterity.
What then shall we say to the new paradox that public encumbrances are of themselves advantageous, independent of the necessity of contracting them, and that any state, even though it were not pressed by a foreign enemy, could not possibly have embraced a wiser expedient for promoting commerce and riches, than to create funds, and debts, and taxes without limitation? Reasonings, such as these, might naturally have passed for trials of wit among rhetoricians, had we not seen such absurd maxims patronized by great ministers, and by a whole party among us.
Let us examine the consequences of public debts, both in our domestic management, by their influence on commerce and industry; and in our foreign transactions, by their effect on wars and negotiations.
In opposition to the favorable circumstances, perhaps of no very great importance, weigh the many disadvantages which attend our public debts, in the whole interior economy of the state: you will find no comparison between the ill and the good which results from them.
First. It is certain that national debts cause a mighty confluence of people and riches to the capital, by the great sums levied in the provinces to pay the interest of these debts.
Secondly. Public stocks, being a kind of paper-credit, have all the disadvantages attending that species of money. They banish gold and silver from the most considerable commerce of the state, reduce them to common circulation, and by that means render all provisions and labour dearer than otherwise they would be.
Thirdly. The taxes which are levied to pay the interests of the debts, are apt either to heighten the price of labour, or to be an oppression on the poorer sort.
Fourthly. As foreigners possess a great share of our national funds, they render the public in a manner tributary to them, and may in time occasion the transport of our people and our industry.
Fifthly. The greatest part of public stock being always in the hands of idle people, who live on their revenue, our funds give great encouragement to an useless and inactive life.
But though the injury that arises to commerce and industry from our public funds will appear, upon balancing the whole, not inconsiderable, it is trivial in comparison of the prejudice that results to the state considered as a body politic, which must support itself in the society of nations, and have various transactions with other states in wars and negotiations. The ill there is pure and unmixed, without any favourable circumstance to atone for it, and it is an ill, too, of a nature the highest and most important. Mr. Hume after making further remarks on the destructive consequences of public credit, observes that the nation must destroy the public credit of Great-Britain, or public credit will destroy the nation. It is impossible they can both subsist, after the manner they have been hitherto managed in that, as well as in some other countries.*
France under the old government, pursued the ruinous system of mortgaging its revenues. This system however, almost unaided by any other cause, has overturned that government, by means of the most extraordinary revolution upon record. If Louis the XIVth amidst the splendour of his reign and career of his conquests could possibly have foreseen, that the second sovereign in descent from him would be led captive by his subjects on account of the debts he was then contracting, he would either have rejected with horror the system he adopted, or have manifested the most entire want of those feelings which ought to dwell in the breast of a great and ambitious monarch. But after this memorable example to other countries, it remains a subject of infinite curiosity to see how far the 'infatuated and blind spirit of funding will now be pursued.' Every hour after the great event in France will make it more and more critical, and will inevitably involve in its train new revolutions, perhaps of a complexion more dangerous to established families, than any thing we have seen in France.
Legislators ought to contemplate these effects of that PUBLIC CREDIT upon which the banking, money-changing, and stock-breaking writers, with Necker at their head, have delivered such panegyrics! A system that never entered a country, but to destroy or to annihilate posterity: it has spread ruin or debility in Spain, Holland, Genoa, Venice, and France: it threatens speedily the extinction of the
* Hume's Essays.
power and the overthrow of the constitution of England: it has weakened and almost destroyed Europe, except one country saved by the splendid talents of a single sovereign.†
AN AMERICAN FARMER. March 6th, 1793.
† Young's travels in France.
To the EDITOR of the NATIONAL GAZETTE.
SIR, IT is remarked by a profound writer, that all societies throughout the varied forms of democracy, aristocracy, and monarchy, verge more or less rapidly to despotism, as all rivers, whether their passage be thro' vallies, hills, or mountains, bend their course invariably to the sea. This remark ought to be a serious memento to the citizens of the United States; and as decay and death seem to be the lot of every free government, temperance in the body politic should demand the same care and attention, that the body natural requires, that the progress to the grave of despotism may be impeded. As the period of existence very often depends upon original stamina, and we are yet in the infancy of a government, too much attention cannot be bestowed to give that vigour of political fibre which will alone insure us a free, a nervous, and a comfortable age.—Children who are taught to admire frippery, and have their minds furnished with the vanities of this life, have a cast given to their actions which oftentimes haunts them to their end; in like manner, when follies are engrafted upon a government that has just emerged into being, they not only enervate it in embryo, and make it the perpetual object of a nursery, and a physician, but they hasten that dissolution which every freeman ought to deplore—Names and forms have an influence upon the human mind, for so much are we the creatures of imitation and of habit, that we assent to things because others have done so; and continue improper practices because it requires an effort to change them. "Even names," says Paley, "are not indifferent." When the multitude are to be dealt with, there is a charm in sounds—It was upon this principle that several statesmen of those times advised Cromwell to assume the title of King, together with the ancient style and insignia of royalty. The minds of many, they contended, would be brought to acquiesce in the authority of a king, who suspected the office, and were offended with the administration of a protector. Novelty reminded them of usurpation—The adversaries of this design opposed the measure, from the same persuasion of the efficacy of names and forms, jealous lest the veneration paid to these, should add an influence which might enslave the liberty of the Commonwealth." The government of the United States may be said to be in its infancy; it has just attained its fourth year, and on its present treatment depends its future character—If we are a republic, republican manners, republican laws, and a republican administration should obtain—If we are not, other requisites would best accord with our government. If names, according to Paley, are not indifferent, and forms influence the mind, we cannot proscribe every name and form too severely, which have had their origin in monarchy, and do not apply to the true character of a republic. To what source can we trace levees, drawing rooms, separation from the people, robes of office, &c? Certainly not to a republican one, for these are the very opposites of equality—What will be the result when the mind becomes accustomed to the regalia of a court? Is not the transition to monarchy more easy after the mind is habituated to its names and forms? Let it not be said that these things are indifferent; for nothing is indifferent which can sap the foundation upon which our equality rests. An inattention to this, is an intemperance which will hasten the period of decay, and verify the remark with which I began this essay. Republican laws are an essential prop to republican existence; but is a law which fixes a perpetual debt upon us, republican? "Debt is the ready way to poverty: a wise people, no more than a wise man, will ever place their security in a load of debts. He that is in debt, is lost, lost to the society of which he is a member, because they can receive no benefit or assistance from him; and lost to himself, because he will be no longer trusted, and is exposed by his necessitous circumstances to the caprice, contempt and power of his enemies, and too often to the ingratitude and slight of those, who have lived upon him—It is much to be feared that a nation oppressed with debt, will but too much resemble the prodigal child, who having squandered away his patrimony in luxury and profuseness, gives himself up to corruption and venality. For, as national debts and taxes enable one set of men to corrupt, so they lay a multitude of others under the temptation of being corrupted—And it is well known, that poverty and bad examples will drive men to sell their dearest birthright." The opinion that "a public debt is a public blessing," is of very modern origin, and is a sophism pregnant with evil

That a public debt often becomes a private blessing and a public curse, the history of many ministerial characters will sufficiently authenticate; that it has dispensed blessings to individuals in America cannot for a moment be doubted; but that the United States have been benefited by their debt and the present fiscal arrangements, is a problem not likely to be solved in favour of its author, unless by speculators and stock-jobbers. What have been the effect of union and an efficient government have been ascribed to the administrators, altho' the same benefits would have flowed from it had the head of the treasury never existed—Do the laws of the union, the respectability of the American character, the commerce, manufactures, and agriculture of our country, the individual honesty as well as the public integrity of every department of our government depend upon the administrator of the finances? It is said that our credit has been established by the administration; but will any one offer such insult to the United States as to suppose that their credit rested upon the narrow shoulders of one man? Suppose the funding system to have been differently constituted, and that the original holders of the paper of the United States had been indemnified, after the completion of the organization, would not our credit have been the same? Our credit depends upon our national character, and not upon the imagined importance of any individual in the union.—Suppose the old confederation to have continued, what would have been the credit of the United States, even had the finances been in the administration of its present officer? This is the question, for by contemplating it properly, we shall be able to decide, whether the credit of the United States depended upon the newly acquired vigour of government; or upon an officer acting under it. It is the fashion of the day to ascribe every benefit which has resulted from the energetic union of the states, to the schemes of the Secretary of the Treasury: as if, not only all the abilities, but all the virtues of the union had their focus in him. Public credit is a delusive thing, it means a facility of borrowing, and like private credit lays the foundation of distress and bankruptcy. The situation of our country, removed at a distance from every foe which can endanger her independence, makes the same expenses and provisions unnecessary, which European governments require—We have no increase of military establishment to contemplate, no naval armaments to anticipate, no application of our monies for court intrigue to expect; a facility of borrowing therefore is not essential to our government; for as the expenses of our establishment can be calculated with tolerable exactness, the sources of revenue can be fixed and can be made commensurate to the object. Public credit produces public debt, public debt increased taxation, and increased taxation poverty and oppression; the sooner therefore we relieve ourselves from our debt by an honest discharge of it, the sooner shall we escape from the clutches of that hydra, which has vomited forth misery upon every country which unfortunately fostered it. The improper influence which public debt gives to the head of the treasury is dangerous to liberty; we have already seen the colossal power of this department; we have seen it resorted to on occasions, in which even the venal parliament of Great-Britain maintains its jealousy, the originating of money bills; what are we to expect when age shall have ripened it, and shall have added to it the vigour of manhood? It is a pivot now on which a considerable portion of our government turns, and is likely, if not checked, to become a centre towards which even the United States will gravitate.
March 5, 1793. GRACCHUS.
To the EDITOR of the NATIONAL GAZETTE.
BEING at market last seventhday, I called at thy office for my paper as usual. On my return home, I visited my neighbour Justice TRUEMAN; and among other entertainment and instruction, we perused the angry epistle of friend Philalethes,* directed to me; at which I confess myself diverted, and the Justice laughed exceedingly.
"Does Philalethes, (said he) pretend to impose on the citizens of America his abuse of a man he does not perhaps even know, as an answer to thy queries directed to an author who has undertaken to instruct government, and to inform his fellow-citizens? I have long known this Philalethes, whose suggestions will not disturb even those whom they most concern. But I really wish to see a man of information and good sense attempt to justify the present Indian war, if it can be done: for as I have already mentioned in a former address, a free and full examination is always favourable to truth, but fatal to error.—He who dares to embrace truth, and particularly in this instance, must expect to have dirt thrown at him by Philalethes, and by all those whose business and interest it is to promote and continue the war."
* See National Gazette, No. 149.
Thus, friend Freneau, I have thought proper to remark to thee, Justice Trueman's sentiments, and to express my hope, that one BETTER INSTRUCTED than Philalethes, will satisfy my inquiries—I remain thy friend,
JONATHAN JUSTICE.
3d Month, 4th, 1793
CONSTITUTION of the FRENCH BENEVOLENT SOCIETY, established in Philadelphia, in the year 1793.
TITLE and object of the society. —Article 1. This society shall be called the French Benevolent Society, established in Philadelphia, in the year 1793. Its only object is to assist unfortunate Frenchmen with advice and pecuniary assistance.
Qualifications for admission and assistance. —Article 2. Every person desirous to contribute to the object of the society, may become a member, and every individual, or descendant of an individual, born within a French territory, may call for its assistance.
Contributions of the Members. —Article 3. Every citizen that shall offer himself to become a member of the society, shall subscribe the present constitution, and shall pay immediately to the treasurer, for entrance money, a benevolent contribution, which shall not be less than Two Dollars; which contribution shall be expressed in words at length upon the treasurer's book in the hand writing of the donor. At every quarterly meeting of the society, each member shall renew his benevolent contribution, paying not less than half a dollar.
Contributions from strangers. —Article 4. The society will thankfully receive all charitable gifts, which shall be made for the furtherance of its object, from other persons than its members.
Meetings of the society. —Article 5. The society shall convene in Philadelphia every second Saturday in March, June, September, and December. Besides these quarterly meetings, there shall be an anniversary meeting on the sixth of February every year, in commemoration of the alliance between France and the United States of America. In such cases as will require an extraordinary meeting, the president, or in his absence, the vice-president, may direct its convocation with the consent of a quorum of the acting committee.
Fines in case of absence. —Article 6. Every member who shall not attend at the meetings shall incur a fine, for the benefit of the society, of half a dollar at the anniversary meetings; of one quarter of a dollar at the quarterly meetings, and of one eighth of a dollar at the extraordinary meetings, except in case of sickness; and whoever shall not have paid up his contributions and fines at the end of each year, shall be deprived of the right of voting, until he shall have settled with the treasurer.
Quorum to constitute a meeting. —Article 7. In all meetings of the society, eleven members, including the president or vice-president, shall constitute a quorum, and in case of absence of these two officers, the members present (being at least eleven in number,) shall choose a president pro tempore.
Officers of the society and acting committee. —Article 8. The officers of the society shall be a president, a vice-president, a treasurer, and two secretaries. There shall also be a permanent committee, under the name of the acting committee, to be composed of twelve members, of whom the four first mentioned in order shall be changed at every quarterly meeting, and of whom five will form a quorum, met at the place fixed on by the chairman, whom the committee shall have chosen at the preceding session.
Duties of the president. —Article 9. It shall be the duty of the president to keep good order in the assembly, to sum up arguments, to put the question, to take the votes, and to call up the motions in order. When the votes shall be equally divided, the president shall have the casting vote. He shall sign the debates of the society, and shall execute those various other duties which shall be prescribed to him by the constitution. In his absence, his duties shall be performed by the vice-president, and in the absence of the vice-president also, by the president pro tempore.
Duties of the treasurer. —Article 10. The treasurer shall be the depositary of the record of the constitution, as accepted by the society, and shall keep a register of the subscriptions, which shall be signed and countersigned by all the officers of the society. It shall likewise be his business to receive donations, contributions, and fines. He shall moreover keep a just and faithful account, which he shall deliver to the acting committee fifteen days before each anniversary meeting, to be presented with remarks, if need be.
Duties of the secretaries. —Article 11. The secretaries shall serve alternately. Their duty shall be, to give public or private information to the members of the time and place of holding the quarterly meetings, anniversary meetings, or extraordinary meetings, at least three days previously; to take down minutes of the debates at the meetings, and to keep the records of transactions; to deliver the certificates of admission to all members of the society that
shall desire it, which certificate shall be signed by the president, one secretary, & the treasurer, who shall receive on account of the society, one dollar for every certificate, before affixing his name thereto.
Duties of the acting committee. —Article 12. The duty of the acting committee shall be to assist with their advice, and with such monies as the society shall leave to their disposal, all such unfortunate Frenchmen as shall request it; to keep a journal of their own meetings, and to make rules proper to expedite, as much as possible the relief to be afforded; to have an eye upon the affairs of the society in the recess of its sessions; to nominate their officers, such as the chairman who shall preside over them, and their secretary; to propose in the meetings of the society, thro' their chairman, such objects as in the course of their business shall appear to them deserving of particular attention. The demands for pecuniary relief directed by the acting committee, shall be signed by the chairman, and the secretary of the said committee.
Election of officers, and of the acting Committee. —Article 13. The election of officers and of the acting committee shall be made by majority of votes, and by ballot. For the first year only, at each quarterly meeting the society shall proceed to the re-election of the President, Vice President, Treasurer, and Secretaries. On the succeeding years these officers shall be chosen at the yearly meeting, and shall remain elected the whole year.
Replacing of Officers. —Article 14. In case of the death or dismissal of an officer, there shall be convened an extraordinary meeting, conformably to the 5th article, within eight days afterward, for the purpose of providing a successor. In the interim, the acting committee shall nominate a substitute, should the case require it.
Disposal of the funds of the Society. —Article 15. The funds of the society shall be deposited by the treasurer in the bank of the United States of America, in the name of the society. As soon as four hundred dollars shall be subscribed; and nothing shall be drawn from thence, without an order first signed by the president or the vice-president, the treasurer, or one of the secretaries: which order shall not receive the above mentioned signatures unless by a written request from the chairman and secretary of the acting committee.
Limitation of their use. —Article 16. The society shall at no time dispose of more than four tenths of their capital in one year, and even that shall not take place till after the completion of the present year, counting from the sixth of February, 1793, during which year the society shall not dispose of more than one fourth of its capital.
Rules for their use, and accountability. —Article 17. At every quarterly meeting the sum shall be fixed, of which the acting committee may dispose, during that quarter. This sum shall never exceed one tenth of the stock of the society, and the committee shall account for its use, thro' their chairman, at the succeeding quarterly meeting. The president and the secretary shall sign the order, taken at each quarterly meeting, relative to the sum fixed on; and this order being returned to the acting committee, shall be their direction towards distributing relief. The committee are not, upon any pretext what ever, to go beyond this sum, and in case of unexpected and urgent demands, which will require funds more considerable, they are to wait for the decision of the society.
Mode of amending the constitution. —Article 18. The present constitution cannot be changed or amended, unless two thirds of the members present at the ordinary meetings (or at one extraordinary meeting convened for this purpose, in consequence of a requisition made by six members to the president, or in his absence to the vice-president) shall previously consent to the amendments or alterations proposed; these alterations or amendments shall then lay upon the table till the next quarterly meeting, which shall definitively pronounce upon the adoption or rejection thereof, by a majority of two thirds of the members present.
Done at Philadelphia the 6th of February 1793—The second year of the French Republic.
[Here follow a great number of signatures.]
PHILADELPHIA.
MARCH 9.
The following is a list of appointments made during the second session of the Congress of the United States—Zebulon Hollingsworth, attorney for the United States in the Maryland district, in the place of Potts, resigned. Copland Parker, surveyor of the port of Smithfield, vice James Wells, resigned. James Gibbon, inspector of survey, No. 4 in Virginia, vice Thomas Newton, jun. resigned. John Armistead, surveyor of the port of Plymouth, in North-Carolina, vice Thomas D. Freeman. Thomas Parker, attorney for the United States in the South-Caroli-
na district, vice John I. Pringle, resigned. Thomas Moffat, surveyor of the port of Frederickburgh, Virginia, vice William Lewis, appointed keeper of the light-house on Cape-Henry. Benjamin Joy, of Massachusetts, consul of the United States at Calcutta, and other ports and places on the coast of India in Asia. Benjamin Harwood, commissioner of loans in the state of Maryland, vice Thomas Harwood, resigned. William Richardson, inspector of the revenue for survey No. 3, in Maryland—Thomas Overton, inspector of the revenue for survey No. 1, N. Carolina, vice James Read, resigned. Thomas Benbury, inspector of the revenue for survey No. 2, N. Carolina; his commission as inspector of survey No. 3, being vacated in consequence of an alteration in the surveys. Daniel M'Kissack, inspector of the revenue for survey No. 5, N. Carolina, vice Joseph M'Dowell, resigned. Henry Voight, of Pennsylvania, chief coiner in the mint of the United States. Samuel Tredwell, collector and inspector of the revenue for the port of Edenton, N. C. and inspector of survey, No. 2 in the N. C. district, vice Thomas Benbury, deceased. Edward Weyman, surveyor and inspector of the revenue for the port of Charleston, S. C. vice Edward Weyman, sen. deceased. George Nicholas, attorney for the United States in the district of Kentucky, vice William Murray, resigned. William Munson, surveyor and inspector of the port of New-Haven, Connecticut, vice Hezekiah Rogers, resigned. Nathaniel Cutting, of Massachusetts, consul of the United States for the port of Havre-de-Grace. Edward Fox, consul of the United States at Falmouth, in the kingdom of Great-Britain. Joseph Yznardi, consul of the United States at Cadiz. Robert Montgomery, consul of the United States at the port of Alicante (Spain)—John Parish, consul of the United States at Hamburgh. Henry Cooper, of Pennsylvania, consul for the United States in the island of Santa Cruz. David M. Clarkson, of Pennsylvania, consul of the United States for the island of St. Eustatius. Benjamin H. Philips, of do. consul of the United States in the island of Currasoë. Samuel C. Johnson, of Massachusetts, consul of the United States at Demarara. Michael Murphy, consul for the United States at Malaga, in Spain. James Greenleaf, of Massachusetts, consul of the United States at Amsterdam. Benjamin Lincoln, of Massachusetts, Beverly Randolph, of Virginia, and Timothy Pickering, of Pennsylvania, commissioners on the part of the United States for holding a treaty with the hostile Indians. William Paterson, of N. Jersey, associate justice of the supreme court of the United States, in the room of Thomas Johnson, resigned. Melancthon Lloyd Woolsey, collector of the district of Champlaine, in New-York state; and, William Thompson, collector for the port of Hardwicke, in Georgia.
Extract of a letter from a Gentleman in Virginia, dated Feb. 26.
"The first Report, which I cursorily read, breathes a spirit of reprehension of the legislature for instituting the enquiry, indecent and bordering on what may not improperly be called insolence of office, and will, I expect, undergo the severe animadversion of the legislature, unless they can submit to the imputation of neglecting to perform that duty which the constitution and the interest of their constituents required. It is very civil in the financier to tell the legislature they might have got the information called for by coming to his office, instead of giving him the trouble of bringing it to them: but should there exist between the members and the financier this tender regard for his feelings by avoiding public examination, how are the people to be informed from time to time of the application of their money?—By, I presume, those clear, concise, and perspicuous exhibitions occasionally reported by him, which may be understood by Congress and those about the seat of government, but not so by the people at large; who would be much better satisfied by the certificate of a committee of Congress having examined and passed the accounts, than by any publication of the financier."
Chester-Town, March 5th, 1793. At an adjourned meeting of the "Chester Town Abolition Society," held in this place the 2d instant, the following gentlemen were chosen officers for the present year: PRESIDENT, JAMES M. ANDERSON—Vice-President, JOSEPH H. NICHOLSON—Secretary, ABRAHAM RIDGELY—Treasurer, JAMES PIPER—Counselors, James Houston, Joseph H. Nicholson.—Honorary Counsellors, James Scott, John Scott—Acting committee, James Maslin, William T. Ringgold, Nicholas Brown, John Lorain, Warner Rasin, Abraham Ridgely.
** Several communications, too late for this day's paper, shall appear in our next.
   PRICE OF STOCKS.     Six Per Cents 18 3/4   Three Per Cents 10 3/4   Deferred 11 1/4   Bank of the United States 12 pr. 90   B. N. America 11 do.  

UNITED STATES.
In Senate, January 29th, 1793.
The Committee to whom was referred the Motions before the Senate relative to the MEASURES and WEIGHTS of the United States,—report,
1st. THAT the standard for the measures and weights of the United States be an uniform cylindrical rod of iron, of such length as in the latitude of forty-five degrees in the level of the ocean, and in an apartment of uniform temperature, shall perform its vibrations in one second of mean time; that the diameter of such rod shall not be more than the hundred and twentieth part of its length, nor the arc of its vibrations more than four degrees, and that the said standard rod shall be divided into four hundred and eighty nine equal parts
2d. That the unit of measures of length shall be a foot, which shall be equal in length to one hundred parts of the aforesaid standard rod.
That sixty six feet shall be a chain, and eighty chains a mile.
3d. That measures of surface be made by squares of the measures of length; but in the case of land the unit shall be an acre, which shall contain forty-three thousand five hundred and sixty square feet.
4th. That the unit of the measures of capacity shall be a bushel, which shall contain one cubic foot and a quarter of a cubic foot.
5th. That the unit of weights shall be a pound, which shall be equal in weight to sixteen thousand cubic cents of a foot of rain water, measured and weighed in an apartment of uniform temperature
6th. That the units of the measures and weights of the United States shall be divided into cents or hundredth parts, and where necessary into mills or thousandth parts; and in the case of weights the mill shall be divided into seven grains.
Explanation of the REPORT of the Committee of the Senate, to whom the Subject of Weights and Measures was referred.
THE report of the committee is founded on the principle that a rod which vibrates seconds in the latitude of forty-five degrees, is fifty-eight inches and sixty-eight hundredths of an inch in length; by dividing a rod of that length into four hundred and eighty-nine equal parts, one hundred of those parts will be equal to twelve of the above mentioned inches, or the foot now in use. In this way a rod may be made a standard, and if the measures in use be lost or become uncertain, it may be always resorted to in any part of the United States, by making due allowances according to the difference of latitude.
The committee propose to make certain measures and weights now in use, the units of the measures and weights of the United States, that the adoption of the system may be the more easy to the community, as no difference will take place in the contents of the units. It is also proposed that the units should be divided into cents or hundredth parts; this division would make the arithmetic necessary for the common purposes of life easy to every capacity, as the four simple rules would be sufficient, without the compound method; and as the divisions of the units of the measures and weights would be the same with those of the unit of the money of account, the same species of arithmetical calculation would take place, and the computation of either would soon be easy and familiar. By the division of the units into cents, the denominations of the measures and weights would be few in number, and those familiar to our ideas, and the memory would be no longer burthened with the perplexing multiples and divisions of the present measures and weights.
In the measures of length, it is proposed that the foot, chain, and mile should remain the same as those now in use. The division of the foot into cents, will be convenient for workmen, as Gunter's carpenter's rule, which is generally used, is divided into cents, as well as into inches; so that the relative proportion between them may be easily ascertained. The chain is the instrument generally used in measuring distances, and is found from experience to be the most convenient length for actual mensuration: it is four of the present rods or poles, twenty-two yards, or sixty-six feet; and ten chains make one of the present furlongs.
In the measure of land, the acre is proposed to be the same as the present acre, and in measuring of land the chain is also used; it is already divided into hundredth parts, called links; chains and links multiplied by chains and links, give acres and decimals of an acre, which has occasioned the division of an acre into cents, to prevail already in some of the states, in preference to roods and perches.
In measures of capacity, the bushel is proposed to be a cubic foot and a quarter, or two thousand one hundred and sixty cubic inches, which is about a mean of the several bushels now in use; some of the states having bushels containing near fifteen cubic inches more, and others near as much less,—it is the quantity proposed by the Secretary of State in his report on measures and weights; his idea is also adopted of abolishing the distinction between wet and dry measures, of disregarding the ale and wine gallons and of having only one measure of capacity. By dividing the bushel into cents, an easy reference may be made from the cents to the different measures of capacity now in use: Fifty cents will be equal to the half bushel, and twenty-five cents to the peck.
In weights, the pound is proposed to be the same as the Avoirdupois pound, and the grain the same as the Troy grain; by dividing the pound into cents, the cents into tenths or mills, and the mill into seven grains, a series is formed which connects with exactness the pound Avoirdupois with the grain Troy. In weighing large quantities the Avoirdupois series is used; in weighing valuable articles, as gold, silver or diamonds, or small quantities as medicines, the Troy series is used; the two series may therefore be connected so as to make but one species of weights necessary, without any inconvenience: The weights for gold and silver, the steel-yards, and the common iron weights, may continue to be used, and be adapted to the new series.
To the Citizens of the United States.
ON THE DISCONTENTS AND PARTIES IN THE UNITED STATES.
THE true cause of both is the funding system—it is founded in injustice—it has committed a three fold robbery.
1st. Upon the officers and soldiers of the late American army, who were compelled contrary to a solemn contract, to receive a certificate worth only 2/6 in the pound instead of twenty shillings.
2d. Upon the whigs of 1776 who sold their houses and farms, and lent their all to this country, and who were afterwards compelled by the insolvency of Congress to sell the pledges of their loans for 4 or 5 shillings in the pound to keep themselves from starving
3d. The funding system has robbed the United States by rendering the redemption of the debt more difficult and burdensome than it might have been made, by borrowing money in Europe at 4 per cent. and purchasing the debt of the United States with it.
The injustice and wickedness of this system does not stop here. It compels, without a single exception, the officers and soldiers of the late American army, and the whigs of the years 1776 and 1777 to pay the deficient sum they lost on their certificates to the purchasers or present holders of them. The murder of the Mexicans by the Spaniards in South-America, in order to discover their treasures of silver, does not exceed this most flagitious act. From this poison us fountain have flowed all the disccontents and clamours of our country. It has inflamed and divided the citizens of the late formerly united like a band of brothers. It has raised speculators and the friends of speculators to some of the highest honors of our country. It has opened batteries of scandal against some of the purest characters in the legislative and executive departments of our government. It has created the most malignant hatred between the inhabitants of our cities and country places. It has given birth to a set of vultures who have grown fat upon the miseries of our citizens. It has created sudden ministerial estates, and with them all the folly and arrogance of sudden elevation. It has given being to that immense inequality of fortune which is so dangerous to public liberty. It has given a check to industry by diverting many from useful employments to speculation. Intoxicating as a South-Sea bubble, it has scattered ruin over
the unwary, and has beggared many worthy characters. It has created an undue influence in our government, alarming to the friends of equal liberty. Happy will it be for the citizens of the United States, happy will it be for the unborn sons of America, if its evils end here!
THE VOICE OF THE PEOPLE. March 6, 1793.
METEOROLOGICAL OBSERVATIONS.
Table with 4 columns: Date, D. H., Bar., Weather. Rows for Tuesday, Wednesday, Thursday, Friday, Saturday, Sunday, Monday.
PRICE CURRENT.
Table with 4 columns: Item, Unit, Price, Cents. Items include Ashes, Bacon, Beer, Beef, Brandy, Butter, Cheese, Chocolate, Coal, Coffee, Cotton, Flax, Flour, Gin, Grain, Hams, Hemp, Hides, Honey, Indigo, Iron, Nail-rods, Sheet, Irons, Lard, Leather, Myrtle wax, Molasses, Mustard, Nails, Oil, Pepper, Pimento, Pitch, Porter, Pork, Rice, Rum, Salt, Snake root, Snuff, Soap, Starch, Sugar.
Table with 4 columns: Item, Unit, Price, Cents. Items include Tallow, Tar, Tea, Souchong, Bohea, Tobacco, Tarpetine, Wine, Lisbon, Teneriffe, Sherry.
FOR SALE.
THE Subscriber wishes to sell the HOUSE and LOT in Princeton, now in the tenure of William Worth, it is an eligible stand, either for a private family or a tradesman, being situated on the North side of the street, near the centre of the town, and a little east of the market house—The lot contains forty-two feet in front, and upwards of two hundred feet in depth; on the premises is erected, and in good tenantable order, a two story dwelling house, twenty feet front by 26 in depth; two rooms on the lower floor, with an entry six feet wide; three rooms on the second floor, and a room in the garret, lathed and plastered. In the rear of the house, and adjoining thereto, is a large kitchen, and the cellar extends under the whole of the house. In the yard, there is a well of excellent water—the yard and garden are enclosed with a good pale fence. This house and lot might be an object to some gentleman who might wish to educate his children either at the College or the Latin or English schools, which are conducted upon an improved plan—The title is indisputable, and possession may be had the first of April. For terms apply to the subscriber in Princeton.
JARED SEXTON. PRINCETON, Feb. 28. 4w2aw
TO BE SOLD.
By JOSEPH CRUKSHANK, in Market Street,
LETTERS.
Addressed to the Yeomanry of the United States, shewing the necessity of confining the public revenue to a fixed proportion of the net produce of the land, and the bad policy and injustice of every species of indirect taxation and commercial regulations.
BY A FARMER. Also, may be had at the same place, a few copies of the FARMER'S LETTERS, containing observations on the dangerous scheme of Governor Duer and Mr. Secretary Hamilton to establish National Manufactures. Feb. 22. 3t. raw
The Barracks in Perth Amboy, Late the property of Major Richard Lloyd, Deceased.
WILL be exposed to public sale on Monday the first day of April next at the house of John Thompson in Perth Amboy aforesaid: said barracks are an elegant large brick building, containing about 30 rooms, the middle house of which is three stories high—They are finely situated commanding a beautiful prospect of the town and surrounding waters—the lot on which they stand, contains about one acre and an half in which are two wells of excellent water—At the same time and place will be sold a water lot and dock lot lying in Perth Amboy aforesaid—for all which good titles (by virtue of an order of the Orphan court of the county of Middlesex) will be given by
WILLIAM LLOYD. NATHANIEL KER. Administrators. Allentown, Monmouth county, Feb. 25, 1793. 4t. raw.
THREE POUNDS REWARD.
RUN AWAY from the subscriber, on Sunday the 13th of January, an apprentice lad to the blacksmiths business, named John Layton, about eighteen years of age, five feet three or four inches high, had on when he went away, a half worn superfine brown coat, a short drab fustout, buff calimer breeches a little faded, worsted stockings, his shoes tied with black worsted strings; he is remarkably fond of strong liquor, is very talkative when a little intoxicated, and speaks with a coarse strong voice; whoever apprehends said apprentice and secures him, shall have the above reward, and if brought home, reasonable charges paid.
ISAAC WOODLAND. Georgetown, Kent county, Crows Roads, Maryland Feb. 4, 1793. 1aw.3t.
Those gentlemen, in different parts of the Union, who hold SUBSCRIPTION PAPERS FOR THE AMERICAN REMEMBRANCER, Are requested to make returns of the subscribers' names as soon as convenient—Messrs. the PRINTERS, also, who have, at my request, published the proposals, will please to send in their respective accounts. JOHN CAREY, No. 26, Pear-Street, Philadelphia.
PRINTED BY CHILDS AND SWAIN, AT THEIR OFFICE NO. 209, HIGH-STREET, NEAR FIFTH-STREET, PHILADELPHIA.