Evening star. [volume] (Washington, D.C.) 1854-1972, 1886-08-28

John flsks In the Atlantic Monthly for sep,ember
Until 17s5 no national coinage was es-
tablished, and none was issued until l7eS
English, French. spanish and German co,ns of
various and uncertain value, passed nom hand
10 hand. Beside the ninepences aud iourpcnce-
pistareens. picayunes and npe OF gold pieces
mo ses saa psS with 'f snssS ssa
French guineas. carolins. ducats and cheQuins.
o. copper there were English pence and half
issued az local mints in Vermont. Massachu-
setss Oonnecticut New Jersey and Penn
where degenersted in value. bur difieren,lv IN
ainerent localities; and among silver pieces the
spanish dollar, nom Louisiana and Cuba, had
New England the shilling had sunk from nearly
one fourth 10 one sixth of a dollar, In New York
20 one eighth: in North Carolina 10 one tenth.
AZ was partly for this reason that In desiring Q
nsaonsi ooinage the more uniform dollar was
sSSop'eH ss the unit Al she same time
adopted instead of the cumbrous English
syssm, ana the result was present adj
mnarsoiy simple currency. which we owe 20
SOuverneur Morris, aided a. 70 some points by
Anonss Seuerson During the period OF The
confederation. the chaotic state OF the currency
sndls.s opportunities Tor fraud and es.opt, Se
SuPping and counterfeiting were carried 10
suca .en ths That every moderately cautious
S u, "a King payment in hard cash. felt it
nSceesaIy 70 Keep small pair OF scales beside
MIN ana carefully weigh each coin. after mar.
tv sN scrutinising its stamp and deciphsring
An view Of all these complicated impedimeuts
- business on the morrow = long and costly
WI ~ mol strange that the whole country
was 10 some measure pauperized. IL i. ouess
uonable u the war debt could nave been maid
even under more efficient system of Govern
me- enS Ane Cost OF the war, estimated In cash.
mao been about one hundred and seventy mil
non dollars; and probably not more than thirty
million dollars Of this ever got paid In anx
shape: The repudiation was wholesale because
suere wes really no money TO be had. Tbo
people were somewhat In the condition of Mr.
harold Skimpole. In many parts OF ihe
cs0 sa oy the year SO. the payment Of ta1es
trlcity. Al one moment, early ia 1852. there
was not single dollar ia the treasury That
sne government had In any way been able "a
nnisn the war, AFTER the downfall Of its paper
money, was due 10 the gigantic efforts OF one
great mau-hoDert Morris, OF Penusylyania
rms statesman was born In England. but he
mao hsd come 70 Philsdelphis In his boy hood, aud
nso massed an enormous fortune, which ne
devoted without stint 10 the service OF his
adopted country. Though opposed ~ the be-
caarauon OF Independence "a rash aud prema-
ture. ne nad nevertheless, signed his name 10
tnat document, aud scarcely any one had con.
trioutsd more 10 the success OF the war. m was
ne VINO supplied the money which enabled
Ienton and Princeton. In l1sl he was made
soPeilnte ndent OF finance, and by dint of every
lmaglnsoie device of hard pressed ingenuity ne
cohtnveo TO support the brilliant work which
began Mt the Cowpens and ended at Yorktown
ne established The Bank of North America "a
an instrument by which government loans
,a ssn' oe negouateo. sometimes his methods
were sucn rs doctors call heroic, as when ne
niade sudden drafts upon our ministers In
EUROPE AFTER the manner already described an
eeSsetry oirs emergency he was Wsshington's
cniei reliance, and In his devotion 70 the COM
mon veal ne drew upon private resources
until ne became poor and In later years--lor
on ils oe ~ said-an ungrateful nation allowed
one VI lts nobiest and most dist interested cham.
plOhs 10 lAugutsh In q debJor's prison