The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-10-01
Cohy ofG letter from, Lord X - 90 hio
tenants. 1911

NLUtCy " ". brIlOln--tn
qusnce OF the late depreciation of paper
money, can no longer accent of any Rank
notes at their nominal value in pay uent or
satisfaction OF an old coutract.--I must.
therefore, desire you to provide for the cav
nent oil your rent in the legal coin of the
| realm at the same time, having 10 otaer
OBJECT than to receive payment of the real
Intrinsic value OF the sum stipulated nv -
Sreement, and being DESTROYS to avoid Civ.
ing you unnecessary trouble. shall be Wii-
ing TO receive payment, in either of the
manners following, according to YOUR 90.
ton:
LIST. BY payment in GuIneas.
III. AZ Gu'neas Cannot be procured, by a
payment iii Portugal gold coin equal in
weight To the number of guineas requisite to
discharge the debt.
Sd BY payment in Bank Paper of a.
sum sufficient TO purchase (ai me 1yesent
"lHT"e. HT'ee) the weight OF standard gold
| requisite To discharge the rent The alter
auun OF the value OF paper money is estma-
ted IN this manner:
The price of gold, in 1902, the year of
your agreement, was four pounds per OF. :
the present market price is four hounds
fourteen ahillngs, arising from the dimntsb-
cd value OF paper-in tha, proportion an
addition OF II pounds ten sbillings per cent.
10 paper money will be required as he e.
per-
(Signedl k
Il must be readily supposed, that this copId
not but create some little alarm as well as
indignation against the writer, MOI sc much
on account OF The case itself. as of the ex.
ample which it set to other landlords.
hey too might SCorn the paper, an. rack
their tenantry tor gold.
Yet, few days BEFORE this was usb
cred to the world. Lord Stanhope had nsb
cred into the House OF Peers ms ne., pro-.
yet TOT paper and aug ne It IS. MS
protested not 70 aak noles directly
legal tender, but t,Spcey tainly Az ingeDi-
Gus way of svhihhing TIE DevlL rounS rho
STUMP ! His plan is briefly TN, ..Ts
would nor make the rOtes legal tenler-.
"hy because II is as Idle 10 reguIate tSe
value OF paper, as the ebb and flow of The
toe !---On, no! bu- because the nole nisht
De A Forgery, aud it would De Sorone ~
EJ0Tce suCh an one upon an individual, wan
might object 20 II on that ground Vbae
then would this Patenf Peer do ! He wo,,ja
distribute Branches OF the Bank OF Eng
LAID, all over The Country, for the erea or
tacihly OF taking IN notes ; and every one,
who held them. might dehOSit them in
these branches, which should open books OF
credIt---the notes Sc deposited, or rather
tne credit Created by these notes, was 70 he
trans erfab!e on the books and in this yav
ne v no had to pay . debt TO another. m,ebr
discharge II by transferring his own creIir
&c hat other----Now, " as that tronsfs,.
uid Lot be/orged the noble Peer" y,onIL
have that established as q legal te16s,.
l. was, then, not the note itself bu. ,ha
transfer OF it, which was to have been nv
roSnded by the Immunities If the law -
Il IS IN truth a meme chose, he very me
thu6-Eereiy, that the note 5 t. h .ra1
gaiised, through $ transfer. Ba, le ne
pass over tnl' miselaDly quirk---u 5 CIR ain
tha' ths idea o. ? Bank OF d. hoat, J., NE
Hezv On such ere he banks of H.,n-
bu 81 and ~ sterd an. They we're no+
banks u discount. Uu, merely Of deD.sit -
4"u mi6ht deposit there y NJ Coin sn,' mi
.i"n----ObIain = certain Tedit IN tnt. Fi,h
! OF these--and. when yaush4d debt L. "a
instead OF drf"Dg he meal ouL, yo,, - .ybP
pay II by merely T-S ing away your 20
credit on the bank There was, p-gn IT,
no sucn thing rs heuk noes issura-.5
persticn ~, i.ke selling ne stock 70
Bank of Virginia that is. by Il grao -
! enc on rs boDks.--A gain--the bank # g,,.
SlerdIm orose ron similar caGse. to..,t
| which has suggested Id Siam pc.
| (he oepreciaticn 81 the currency, A. 49,
sterdam hai mint Of It's own, il had 20
| coma eHcepi hose OF otE,T y 2tes. which Ia :.
often won, or clip auG of course de0reci.
ated. u s ExchaGg the s-ore d..,r
! o" = insef dam. we're always r.. digc1r,.s..
and he rate OF Exchange, was W.
gains, her, as it is now aga!nst E.oolaod .
10 remedy this evil, he Dulch put up ,hs;,
Bank, With proyi, On ;ras every hi of
Exchange, above certain sum, waq ~.
paid III he credit Of ,hs bank. As
tai deposited in the bank, vas received 80.
no more than It was Y orth a., negors ~,
/ be- en- individuals ~lrs "hus cartie,t -
| without the Intervention OK money AMI e
cou Sc, With comparatively little frn,,h,.
as there was 90 wear and tear in Inc
currency (; rom these and other cause 80
no"ey IN be bank was Worth NOR ~
so much in culAtion and that bant 49,,
tney always bore certain hreni,fy, n, 49,, -
IN the market----gtuera!l S or 6 MR. so
Not 8hch would nave have been the Int
OF Lord Stonhope's bank aud O"SCC
pam reason, tha he coin or b, 81 oI 'hIs
ce'ged atthe Bank of Ams,erd9 a re-
yer aiken for more hap il w2 80, IS re
Il as always weighed and es,i,,.9,.'.
certain s'andard---', ereas. The LsnL 90 q
" ia taVe been itreIYeJ afibs - pS'
banks, al It's nominal, no. IL. 80, ."'''. OPC
y me "ne, which was eEprcsee,,c,. 49,
e the note, not a tho pr viii :, ''0s'
IN me MARKET The a. ~ ronid ,,,.' 90
nave always been ag,fiust II m =;
p'S'on 90 ta"e it as legal 60 90
W aid ave been ~ gdsa--,ik. ~ i ~ =
uSuTV, or like oIher $50. ~ a"h o.