The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1810-01-17
A9ifreliatlp.
ALR. .AD.flNS'S
CORRESPONDENCE CONTINUED.
.dnsryers 10 dfr. GatkOen's Queriss.
LETTER XII.
.Amsfer6Gn', October II, i7eo.

DIN, =
WE are now come to ynnr twelfth head
90 inquiry, which is, g What coGntenance
have the finances How much does the ex-
pcnse exceed the yearly income +! Does the
annual revenue, deriving from the taxes, IN
crease ar diminish, in the whole, or in any
particulars And what are the reasons to be
given for il 20
Here am apprehensivc shall find DIFF
fculty TO make myself understood, as the a.
merican finances, and mode of taxation, dii-'
fer so materially from any that know OF IN
Europe.
In the month Of May, l775, when the Con-
gress came together, TOR the first time, alter
the battles of Lexington and Concord, they
found 1T necessary to raise an army, or, rath-
. Ell, to adopt an army already raised, at Cam
bridge, in ordcrto oppose the British troops,
and shut them up in the prison of Boston.--
But they found that the Colouies were but
just Got out of debt, had Just paid off the
debts contracted in the last French war. In,
the several TREASURES Of the Colonies they
found only few thousand pounds. They
had before them prospect OF a stgnaton,
or interruption or their trade, pretty univer-
sally, by the British men -of-war. They had a
thousand perpIexitics before them, in the
prospect of passing through thirteen revoIu-
tons of government, from the Royal authori-
ty to that under the people. They had ar
mics and na,ies to form they had new con-
stitutions of govcrnment 10 attend to they
had twenty tribes of Indjens to ,ncgociatc
with they hadvast numbcrs 81 negroes to
take care of they had ali sorts of arms, am
munition, and artillery, to procure, as well as
blankets and cloathing, and subsistence for
the army they had negotiations q tI1ink Of,
in Europe, and treaties to form Of ,alf4ncc
and commerce apd.they bad ey en- Asalt to
procure, for the subsistence Of tho abitsnts,
and syen.of their cattle,sas weli as their an
mies. -
In this situation, xlthtso may wants and
demands, and no money rrevesssee 20 rscar
to, they had recource to an expetlS Ht4afhich
had often Been practced in AmcriGI Apt no
where else; they determined to cniit bapcy'
money.
The American paper money is nothing:
but bills of credit, by which the publicka the,
community, promises to nay the posse Rour
a certain sum in limited time. In co,in-
| try where there is no coin, or not enough, in
circulation, these bills may be emitted 70 a
certain amount, and they will pass at par |:
but as soon. rs the quantity exceeds the value
of the ordjnary business of the people, it will
ldepreciatc, and continue to- fall in its value, in
Arop6d Bn toahe augmentation of the quaii-
fheCA ArssA, sa, sbe,. istFof March. last,
stated this Veprsci55iop at forty Cor one. II his
may be r&a$Iy th6 average, but It often pas
ses mucti6werx by this resolution, all the
bills il }rculaGSp on that and noiic
| have been emil tSsincc y tarnnuntt t0 &3klt
If YOU add the maj mo1c q blIowcd ,Sipon al,
| certificates, and the debt toa} 80
France and Spain the whole deSy n7}I q " 4
| to but little more than FIVE millions.
Yearly income we have none, properly
| speaking. ,Wefhave nof imposts or duties
laid npon any articles of importation, ex-
| pQftation, or consumPQon. The revenue
| consists entirely in grants annually made by
I! th5 Legislatures, of sums Of money for the
/ cuffent service Of the year, and appropriated
| to Certain uses These grants are proper
| tiohed upon all the polls and estates, real and
(! personal, in the communityj and they arc
levied and paid into the pnblick treasury with
| great punctuality, from whence they arc is
sued in payments OF the demands upon the
| publck.
| You see then that il is in the power OF the
/ Legislatures to raise, what sums are wanted,
| at least as much as the people can bear and
they aresusualy proportoned to the pubIick
wants, and the peoples abilities. They are
now constantly laying on and paying. very
heavy taxes, although for the sthree,os. four
frst years of the war, the obstiucticr Of trade,
&c. made it difficult to raise any taxcs at al.
The yearly taxes, annually laid on, have In
creased every year for these three years past
and will continue to be increased in proper
ton to the abilities ofethe people. The abil'
ity, no doubt, increases,in proportion Is pep.
ulation increases, as new lands are cuItivatcd,
and as property is in any way added 10 the
common stock 1t will also increase as ouf
commerce increases, and the succesrof pri-
Watering increases. But uy de lncikod q