Delaware gazette and peninsula advertiser. [volume] (Wilmington, Del.) 1814-1820, 1818-09-19

For the American Waterman.
writer in this paper of the Goth Mt. who
probably has found his advantage in the curren,
medium being under pal, manifests a dispos
l,on to coercc the s,orehseier OF lhis place T.
aeive IS COCO money, Bank paper, w"ich he'
20 intrinsic value. Many person have found
advantageous to sell their par money and pu,'
'hase deprecated, with which they might pa
-ner Iaborers and jotirneymen ard have bee
leased w.sn the idea, that when they passed i
to the market people, the stor:keeepers, &c
| ;hey had gained all the difference Of exchange
And ii world appear from the complaints of TN.
asst mentioned class. they have suffered exceed
| mgy by, and to them the deprecated state of q
Icuntmually fluctuatng currency, must have beer
I very grievous evil. But Notwithstanding some
of them have had to pay. as l am credbly in
Horned, 10 the amount of two thousand dollar,
| a year in discounts, Notwithstanding the many
disadvantages to which ii subjected them. The!
1t became so extremely sever as to force them
to reject it--when this substitute for money,
would no longer answer the purpose OF a clrc't.
! atl medium, when the circle around us IN
when it wauld pass wa, continual lily growing less
until at length it reached the town, when til J
ould no longer buy any article with it, bu,
we're under the necessity of making enormous
sacrifices in getting it converted into par --thef
shey commenced discoun'ng it, at SIX cents of
the dollar, although at the same time they lost
ten per cent.
Ii is believed by the enlightened part of the
public, that the metnod which the traders &c
uerally have now adopted of selling their goods
at par prices, ard d,scounting all kinds of in
ferior money at its current value, is mucn pre-
ferabls TO the mode pursued by some others, OF
taking all sorts and sizes of deprecated paper,
and charging double the amount of discount in
the prices of tue articles sold for 1t is OBVIOUS,
such persons must have IN employ additional
capital of considerable amount, for which they
must obtain a remunera ION. 1t is morally i'm
possible Tor any dealer to transact business in
such ineoi uin, upon Inc same terms as Others
who sell Cor par, and l presume the public have
found they have (nay, challenge the writer Of
the article alluded 10, say fhe has not hmself)
always pu chased articles wanted, much lower
shen good money was used for THAI purpose.
| AS to the dea suggdRed. OF the community
being imposed upon by the traders, it IS SO in
congruous wiIh common sense, SO altogether
i'm, ,ossibe ard mpracticabie, when we consider,
NOT only the competition of these persons with
leach other, bur also with those of neighboring
places, that we must believe it was not much
adore ,sed to the reason and sense of men, of
understanding, as to the prejudices of inconsid
crate people, and for the purpose of maSing
|party with those, who are willing to grind the
faces OF the poor, and to advance their own in
terests at the eNpence of honest ard deserving
industry.
But why do not the banks prevent al these
difficulties, these jeaousies, and these heart
lburnngs, by doing whas justice so plainly re
lquires, that is, by making their issues at par