The advocate., 1891-09-30

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Franklin commended the continent
al currency" We have never stated
anything of the kind. Franklin not
only recommended, but''was himself
very largely instrumental in securing
the issue of the colonial currency"
to which we have so many times re-
ferred. He also gave very accurate
description of the class of men who
opposed that currency in his day.
Will the Capital please observe who
they were? He describes them as
follows:
First-Since men will always be powerfully in
huenced In their opinions and actions by what
appears to be their particular interest," therefore
all who wanting courage to venture In trade,
now practice lending money on security for er-
OrbttGnt interest, which in scarcity Of money
WILDE done, Notwithstanding the law, say all
such will probably be against large addition to
our present stock of money; because a plentiful
currency will lower interest, and make 1t COM
mon to lend on less security.
SecOnd-All those who are pOsSessOrs of large
snms Of money, and are disposed to purchase
land, which is attended with great and sure
advantage in a growing country as this is. say
the interest Of all such men win incline them to
oppose large addition to our money, because
their wealth is now continually increasing by the
large interest they receive, which will enable
them Qf they keep land from rising to purchase
more some time hence than they can at present;
and, In the meantime, all trade being discouraged,
not only those who borrow of them, but the
common people in general, will impoverished,
and consequently obliged to sell more land for
less money than they will do at present. And
yet after such lAen are possessed Of as much
land as they can purchase, 1t will then be their
interest to have money made plentiful, because
that will Immediately make land rise In value In
their hands. Now, it ought not to be wondered
at If people, from a knowledge of mans In
terest, do sometimes make true guess at his
designs, for interest, they say, t0ill not lie.
Third-Lawyers and others concerned In court
business, win probably, many of them, be against
a plentiful currency; because people In that case
win have less occasion to run In debt and con-
sequently less occasion to go to law and sue one
another for their debts. Though know some
even among these gentlemen, that regard the
public good before their own apparent interest.
FOurth-All those who are anyways dependent
on such perOns as are above mentioned, whether
as holding offices, as tenants, or as debtors,
must at least appear to be against large addi-
ton; because II they do not, they must senslbly
feel their present interest hurt. And besides
these, there are, dOubtleSSy, many wellmean-
ing gentlemen and others who, without any Inn
mediate private interest OF their own In view, are
against making such an addition, through an
opinion they may have Of the honesty and sound
Judgment of some Of their friends that oppose II,
(perhaps for the ends aforesaldD without having
given 1t any thorough consideration themselves.
And thus it Is no wonder II there Is powerful
party on that side.
Separated from it's connections, the
above might be easily mistaken for
reference to men of our own day by a
living writer, so truly does it picture
existing conditions. But the Capital
says:
Benz. Franklin is unfortunately deceased He
cannot answer for himself. But the great
Boston philosopher has nothing to do with the
case. History is full enough, and clear enough
on the continental currency"
We submit that history is also full
enough and clear enough on the SEQ
lonial currency" and Franklin and
Hume have written that history. We
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