The public records of the State of Connecticut, from October 1776 to Ferbruary 1778, inclusive, Part 70

Author: Connecticut; Council of Safety (Conn.); Connecticut. General Assembly; Providence (R.I.). Convention (1776-1777); Springfield (Mass.). Convention (1777); Hartford (Conn.). Convention. (1779); Philadelphia. Convention (1780); Boston. Convention (1780); Hartford (Conn.). Convention (1780); Morgan, Forrest, 1852-; Labaree, Leonard Woods, 1897-; Hoadly, Charles J. (Charles Jeremy), 1828-1900
Publication date: 1894-<1997 >
Publisher: Hartford : Press of the Case, Lockwood & Brainard Co.
Number of Pages: 674


USA > Connecticut > The public records of the State of Connecticut, from October 1776 to Ferbruary 1778, inclusive > Part 70


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Whereas the concurrence of all the United States in the measures afore- said will render them much more effectual for attaining the good ends proposed,


Resolved, That a copy thereof be transmitted to the Honourable Congress- of the United States, that such measures'may be taken for that end as they in their great wisdom shall think meet, and that a letter, signed by the President, accompany the same.


Whereas the State of Rhode Island have represented the necessity that a body of troops be kept up to guard the shores around Rhode Island, under the direction of the general officer stationed there, and have manifested a desire that the Committees should consider the same and express their opinion of it to their respective constituents: Therefore,


Resolved, as the opinion of this Committee, That the State of Rhode Island be requested to fill up their two battallions as soon as may be for the above purpose; that the State of Massachusetts Bay be desired to hasten on the two battallions they have ordered for that purpose; that the State of Connec- ticut be desired to raise and equip one battallion of 728 men with all speed and direct them to the above place; and that the State of New Hampshire be desired to raise and equip 300 men with all speed and direct them to the above purpose.


A true Journal of the Proceedings of the Committee who met at Spring- field in the County of Hampshire, July 30th, 1777. Attest. STEP. HOPKINS, Presidt.


Witness, WM PYNCHON JUNR, Cler.


In the Lower House. [August, 1777.]


The further consideration of this Report is referred to the Gen' Assembly at. their session in Octobr next.


Attest. BENJ. HUNTINGTON, Clerk.


[Rev. War, vii, 391.]


SPRINGFIELD, AUGT 6TH, 1777.


Sr. The Committees from the several States of New Hampshire, Massachusetts Bay, Rhode Island, Connecticut, and New York, in pursuance of the proposal of the State of Massachusetts Bay have met and con- ferred upon several subjects therein recommended, and have passed a num- ber of Resolutions, a copy of which I am directed to be laid before the Honorable Congress for their consideration. The first four of those States. the last winter passed acts to prevent monopoly and oppression in order to support the credit of their paper currency, but the other United States not judging it expedient to enact similar laws hath in a great measure pre- vented their answering the good purposes for which they were intended, and


606


APPENDIX. [1777.


has rendered very difficult, if not impracticable, fully to execute the same : other measures, therefore, have now been agreed upon for the same pur. poses, the success of which we apprehend will greatly depend upon the concurrence of the United States in the same. We are so fully impressed with the importance of drawing in and sinking the bills of credit emitted by the several States and of the necessity of large and frequent taxations to supply the continental treasury and to defray the charges of government, that we have earnestly recommended it to the several States we respectively represent, and we apprehend it will be absolutely necessary for similar measures to be adopted by the other United States, in order to support the credit of the paper currency, and to prevent any further emissions for the purposes of defraying the charges of the war and the support of internal government.


We submit the whole to the Honorable Congress, that such measures may be taken for that end as they in their great wisdom shall think proper. I am, in behalf of the Committee, Sir Your most obedt. and very humble servt. STEPHEN HOPKINS.


To the Honble John Hancock, Esq".


President of the Continental Congress at Philadelphia.


A true copy. 7


Attest. WM. PYNCHON JUNR, Cler.


[Rev. War, vii, 436.]


Stating of Bills emitted &c. by the State of Connecticut, and now out- standing, August. 1777.


Sums emitted.


when emitted.


Time when payable to Treasurer.


On what


List.


Tax.


Bills under a dollar.


Monies burnt.


10,000.0.01770, May 10th


1771, Dec. 31st 1770 0.0.2


62.10.0


5,000.0.0 6,000.0.0


12,000.0.0 1771, Octob. 10th


1772, Dec. 31st 1771 0.0.1


1773, Sept. 30th 1772 0.0.1


1774, Dec. 31st 1772 0.0.1


1,500.0.0


15,000.0.01775,


Jan. 2d


2 1776, Dec. 31st 1775 0 0.1


49,000.0.0


50,000.0.0 1775,


May 10th


1777, May 10th 1775 0.0.7


1,000.0.0


50,000.0.01775,


June 1st 1778, June 1st 1776 0.0.7


425.0.0


50,000.0.01775, July 1st. 1779, Dec. 31st 1777 0.0.7


1,255.0.0


60,000.0.01776,


June 7th 1780, Dec. 31st 1778 0.0.8


10,590.0.0


50,000.0.0 1776,


June 19th 1781, Dec. 31st 1779 0 0.7


11,490.0.0


£309,000.0.0


11,000.0.0 Deduct money burnt.


27,822.10.0 Supposed 1,500.0.0 sum of £29,322.10.0 small bills


298,000.0.0 Sum of Bills outstanding. 29,322.10.0 Amount of small bills (nearly) deducted. in emission $268,677.10.0 Bills outstanding not less than a dollar; to redeem which a of 1771 .- tax of 3s. 3d. will amount to £273,000.0.0. accounting not exact- £7000 to each penny tax. ly ascer-


60,000.0.0 Issued in notes of £10 each payable @ 4 per cent. in 3 years. tained.


72,000.0.0 Borrowed and payable @ 6 per cent. in one year.


12,000.0.01773,


June 1st


1775, June 1st 1773 0.0.1


1775, Dec. 31st 1774 0.0.1


1,500.0.0


Time


607


NEW HAVEN CONVENTION.


1778.]


5s. 2d. in the pound @ £7000 each penny tax is £430,000,0.0. which surmounts the whole State debt for bill emitted and still outstanding includ- ing the small change and also the notes issued on interest and for borrow'd money.


III.


THE NEW HAVEN CONVENTION.


JANUARY, 1778.


[Congress having under consideration the proceedings of the Springfield Con- vention of July, 1777, on the 22d of November


" Resolved, That it be recommended to the Legislatures or, in their recess, to the executive powers of the respective States of New Hampshire, Massachusetts Bay, Rhode Island and Providence Plantations, Connecticut, New York, New Jersey, Pennsylvania, and Delaware, respectively, to appoint Commissioners to convene at New Haven in Connecticut, on the 15th day of January next; and to the States of Virginia, Maryland, and North Carolina, respectively, to appoint Commissioners to convene at Fredericksburg in Virginia on the said 15th day of January; and to the States of South Carolina and Georgia, respectively, to appoint Commissioners to convene at Charleston on the 15th day of February next; in order to regulate and ascertain the price of labor, manufactures, internal produce, and commodities im- ported from foreign parts, military stores excepted; and also to regulate the charges of innholders; and that, on the report of the Commissioners, each of the respective legislatures enact suitable laws, as well for enforcing the observance of such of the regulations as they shall ratify, and enabling such inn-holders to obtain the necessary supplies, as to authorize the purchasing commissaries for the army, or any other per- sou whom the legislatures may think proper, to take from any engrossers, forestallers, or other person possessed of a larger quantity of any such commodities or provisions than shall be competent for the private annual consumption of their families, and who shall refuse to sell the surplus at the prices to be ascertained as aforesaid, pay- ing only such price for the same."


The proceedings of the Convention were laid before Congress on the 16th of February, 1778.


An article on this Convention by Simeon E. Baldwin may be found in volume iii of New Haven Historical Society Papers. ]


AT A MEETING OF THE COMMISSIONERS OF THE SEVERAL STATES OF NEW HAMPSHIRE, RHODE ISLAND AND PROVIDENCE PLANTATIONS, AND CON- NECTICUT, AT NEW HAVEN ON THE 15TH OF JANUARY AND CONTINUED BY ADJOURNMENT UNTILL THE 20TH DAY OF THE SAME MONTH, 1778, WHEN BEING JOYNED BY THE COMMISSIONERS OF THE RESPECTIVE STATES OF MASSACHUSETTS BAY, NEW YORK, AND NEW JERSEY, IN CONSEQUENCE OF A RESOLUTION OF THE CONTINENTAL CONGRESS, THEY PROCEEDED TO THE BUSINESS ASSIGNED THEM, AND MADE CHOICE OF


The Honorable Thomas Cushing, Esqr, President. Mr. Henry Daggett, Secretary.


The gentlemen produced their several powers, and are as follows, viz :


STATE OF NEW HAMPSHIRE.


IN THE HOUSE OF REPRESENTATIVES, DECEMBER 26TH, 1777.


Voted, That the Honorable Jonathan Blanchard, Esq", and Nathaniel Peabody, Esqr, be chosen and appointed Commissioners for this State to go


608


AOIN APPENDIX! !!. [1778.


to New Haven in Connecticut, to join with Commissioners from the other States to endeavor a regulation of the prices of labours &c. agreable to the fifth article of the resolves of the Continental Congress of the 22d. of Novem- ber last, and to be at New Haven by the 15th day of January next.


Sent up for concurrence.


JOHN LANGDON, Speak™.


In Council the same day read and concurred. E. THOMSON, Secr'ty.


Copy examined by


M. WEARE, Presid' of Council.


STATE OF MASSACHUSETTS BAY, COUNCIL CHAMBER, JANUARY 13TH, 1778.


The two Houses in pursuance of the resolves of the Hon' Congress pass'd the 22d November last, proceeded to the choice of three gentlemen as Commissioners in behalf of this State, to meet the Commissioners from the States of New Hampshire, Rhode Island and Providence Plantations, Con- necticut, New York, New Jersey, Pennsylvania, and Delaware, at New Haven, on the 15th day of this instant January, and with them, or a majority of them, to deliberate upon, devise the most prudent and effectual measures possible for the promoting the valuable purposes mentioned by the Hon1 Congress in their resolutions above refered to; and upon sorting and count- ing the votes it appeared the following gentlemen were chosen, viz :


Honorable Thomas Cushing, Esq'. Honorable Robert Treat Paine, Esqr. Col' Elisha Porter. Attest. JOHN AVERY, D'y Secret'y.


BY HIS EXCELLENCY NICHOLAS COOKE, ESQR, GOVERNOR,


Locus Sigilli. . CAPTAIN GENERAL AND COMMANDER IN CHIEF OF THE STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS. 10 William Green and Jabez Bowen, Esq , GREETING: -


Whereas the General Assembly of this State at the session held at Provi dence on Friday the 19th inst. did in pursuance of a resolution of the most Hon' the Continental Congress of the 22d of Novbr last appoint you the said William Green and Jabez Bowen Commissioners on the part of this State, to meet such Commissioners at New Haven on the 15h of January next as shall be appointed by the States of New Hampshire, Massachusetts Bay, Connecticut, New York, New Jersey, Pennsylvania and Delaware, for the purposes in the aforesaid resolution set forth and contained: I do therefore hereby authorize and commission you the said William Green and Jabez Bowen, to meet such Commissioners as shall be appointed from the afore- named States as aforesaid, and with them to take into consideration the several matters in the said resolution recommended to such board of com- missioners, and you are required to make all the dispatch that the importance of the business will permit; and to make report of your proceeding to the General Assembly or in its recess to the Council of War.


Given under my hand and the seal of this State this twenty-second day of Decembr in the year of our Lord one thousand seven hundred and seventy-seven.


By his Excellency& Command,


NICHOLAS COOKE. HENRY WARD, Secrty.


609


NEW HAVEN CONVENTION.


1778.]


AT A GENERAL ASSEMBLY OF THE GOVERNOR AND COMPANY OF THE STATE OF CONNECTICUT HOLDEN AT HARTFORD, BY ADJOURNMENT, ON THE SECOND THURSDAY OF JANUARY, A.D. 1778.


Whereas in and by a resolve of the Honorable Continental Congress of the 22ª of November, 1777, it is recommended to the Legislatures of the respective States of New Hampshire, Massachusetts Bay, Rhode Island and Providence Plantations, Connecticut, New York, New Jersey, Pennsylvania and Delaware, respectively, to appoint Commissioners to convene at New Haven, in Connecticut, on the 15th day of inst January, in order to regulate and ascertain the price of labour, manufactures, and internal produce, and commodities imported from foreign parts; military stores excepted; and also to regulate the charges of innholders &c.,


Resolved by this Assembly, That Roger Sherman, Willm Hilhouse, and Benj" Huntington, Esqrs, be and they are hereby appointed Commissioners in behalf of this State, to meet the Commissioners of other States at said New Haven, as proposed, and consult with them on the subject matter of said resolves of Congress, and make report of whatever they may judge fit to be done, to this Assembly, for approbation, that suitable measures may be pursu'd thereon.


A true copy of Record examined by


GEORGE. WYLLYS, Secret'y.


IN CONVENTION OF THE STATE OF NEW YORK, AT POUKEEPSIE, IN DUCHESS COUNTY, JANUARY 14th, 1778.


Whereas, the Honorable Continental Congress in and by certain resolu- tions of the 22d of Novemb' last, have recommended to the Legislatures, or in their recess to the executive powers of the respective States of New Hampshire, Massachusetts Bay, Rhode Island and Providence Plantations, Connecticut, New York, New Jersey, Pennsylvania, and Delaware, re- spectively, to appoint Commissioners to convene at New Haven, in Connecti- cnt, on the 15th day of January then next, in order to regulate and ascertain the price of labour, manufacture, internal produce, and commodities im- ported from foreign parts, military stores excepted, and also to regulate the charges of innholders ; and that on the report of the Commissioners, each of the respective Legislatures enact suitable laws as well for enforcing the observance of such of the regulations as they shall ratify, and enabling such innholders to obtain the necessary supplies, as to authorize the purchasing commissaries of the army, or any other person whom the Legislatures may think proper, to take from any engrossers, forestallers, or other person possessed of a larger quantity of any such commodities or provisions than shall be competent for the private annual consumption of their families, and who shall refuse to sell the surplus at the prices to be ascertained as aforesaid, paying only such price for the same :- In compliance therefore with the said recommendation,


Resolved, That William Floyd, Comfort Sands, Peter T. Curtenius, and William Denning, Esq's, be, and they are hereby nominated and appointed Commissioners to attend at the said meeting or convention in behalf of this State with full power and authority to them, or a majority of such of them as shall from time to time attend, so as that there shall always be at least two attending to represent this State, to do and transact all business neces- sary to be done and transacted in the said meeting or convention on the


39


610


APPENDIX. [1778.


part of this State, touching the several matters mentioned in the said resolu- tions, saving and reserving nevertheless to the Legislature of this State, a right to ratify and adopt such of the regulations and measures to be pro- pos'd and concluded on at the said meeting or convention, as they shall deem proper and expedient.


By order, PIERRE VAN CORTLANDT, Presdt.


Attest. ROBERT BENSON, Secret".


IN THE HOUSE OF ASSEMBLY OF THE STATE OF NEW JERSEY, 11th DECEMBER, A.D. 1777.


Whereas, the Hon' the Congress of the United States did, on the 22d day of November last, resolve as followeth, that it be recommended to the Legislatures, or in their recess to the executive powers of the respective States of New Hampshire, Massachusetts Bay, Rhode Island and Providence Plantations, Connecticut, New York, New Jersey, Pennsylvania, and Dela- ware, respectively, to appoint Commissioners to convene at New Haven, in Connecticut, on the 15th day of Jannary next, in order to regulate and ascer- tain the price of labour, manufactures, internal produce, and commodities imported from foreign parts, military stores excepted, and also to regulate the charges of innholders ; and that on the report of the Commissioners, each of the respective Legislatures enact suitable laws for enforcing the ob- servance of such of the regulations as they shall ratify.


Resolved, therefore, That the Hon' John Cleves Symmes, Esq", Moore Furman, and John Neilson, Esqrs, or any two of them, be and they hereby are appointed and impowered, to attend at New Haven on the 15th day of January next, for the purpose mentioned in the said resolution, and that they report their proceedings to the Legislature at their next sitting.


By order of the house, JOHN HART, Speak".


Members Present :


Jonathan Blanchard, Esq", ¿


Nathaniel Peabody. Esq', from New Hampshire,


Honorable Thomas Cushing, Presdt, )


Robert Treat Paine, Esq",


Massachusetts, Elisha Porter, Esq',


William Greene, Esq", ¿ Rhode Island,


Jabez Bowen, Esq',


Roger Sherman, Esq',


Will™ Hillhouse, Esq", Connecticut,


Benjamin Huntington, Esq',


William Floyd, Esq', \ New York.


Comfort Sands, Esq", S


John Cleves Symmes, Esq',


John Neilson, Esq", New Jersey,


Adjourned to Jany 21st, 10 A. M.


Jany 21st. Met according to adjournment.


Present: the same members as yesterday. Entered on debate upon the business before this Convention. Adjourned to three o'clock, P. M.


611


NEW HAVEN CONVENTION.


1778.]


Met according to adjournment.


The Commissioners arrived from the State of Pennsylvania and produced their credentials as follows, riz :-


IN GENERAL ASSEMBLY OF PENNSYLVANIA, TUESDAY, DECR 16, 1777, P. M.


Agreeable to the order of this morning, the House proceed to the election of Commissioners to go to New Haven, to meet other Commission- ers from the northern States for the purpose of regulating the prices of commodities, agreeable to the resolves of Congress of the 22d day of November last, when Joseph Dean, Nicholas Dupuy, James McDowell and James Cunningham, Esqrs, were chosen.


Extracts from the minutes. JOHN MORRIS, Jun", Clerk of the General Assembly.


Present : afternoon, the same gentlemen as in the forenoon, and moreover James McDowell, Esq", Pennsylvania, James Cunningham, Esq", Adjourned till to-morrow, ten o'clock, A. M.


THURSDAY, JANUARY 22D, 1778.


Met according to adjournment and resumed the debate on the business before this Convention.


The same Commissioners present as yesterday.


Adjourned till three o'clock, P. M.


Met according to adjournment.


The Convention taking into consideration the rules of conduct to be observed in determining questions that come under consideration,


Resolved, That in determining questions in this Convention, each State shall have one vote.


Adjourned till to-morrow, ten o'clock, A. M.


FRIDAY, JANUARY 23D, 1778.


Met according to adjournment.


Present: the same members as yesterday.


Motion made and question put, whether this Convention will take measures for regulating the prices of labour &c, in pursuance of a resolution of Congress of the 224 of Novbr last. Passed in the Affirmative.


Adjourned untill three o'clock, P. M.


Met according to adjournment. Conferred on the subject of what price should be affixed for labour &c.


Adjourned untill to-morrow morning, 10 o'clock.


SATURDAY, JANUARY 24TH, 1778.


Met according to adjournment. The same members present as yester- day, and William Denning, Esqr, one of the Commissioners of the State of New York, appeared and took his seat. The Convention proceed upon the business of regulating the price of labour, &c.


Adjourned untill three o'clock, P. M.


612


APPENDIX. [1778.


Met according to adjournment and resumed the business of regulating the price of labour, &c.


Adjourned till Monday morning, 10 o'clock.


MONDAY, JANUARY 26TH, 1778.


The Convention met according to adjournment. The same members present as Saturday, resumed the business of regulating the price of labour, &c.


Adjourned untill three o'clock, P. M.


Met according to adjournment. The Convention proceed to the regula- tion of the price of labour, &c.


Adjourned untill to-morrow morning, 10 o'clock.


TUESDAY, JANUARY 27, 1778.


¿ The Convention met according to adjournment. Present the same mem- bers as yesterday. Peter T. Curtenius, Esq', one of the members of the State of New York, appeared and took his seat in the Convention.


The Convention proceeded on to the business of regulating the price of labour, &c.


Adjourned untill three o'clock, P. M.


Met according to adjournment, and resumed the business of regulating the price of labour, &c.


Adjourned untill to-morrow morning, 9 o'clock.


WEDNESDAY, JANUARY 28TH, 1778.


The Convention met according to adjournment.


The same members present as yesterday, and resumed the business of regulating the price of labour, &c.


Adjourned untill three o'clock, P. M.


Met according to adjournment.


Resolved, That Roger Sherman, Robert Treat Paine, Nathaniel Peabody, and Benjamin Huntington, Esqrs, be a committee to draw up a report of the doings of this Convention.


Adjourned untill to-morrow morning, 10 o'clock.


THURSDAY, JANUARY 29TH, A.D. 1778.


The Convention met according to adjournment.


The same members present as yesterday.


Resolved, That Hono. Thomas Cushing, Esq", William Denning and John Cleves Simmes, Esqr, be a committee to draw up a letter to the Hon1. Con- tinental Congress, relative to the proceedings of this Convention.


Adjourned untill three o'clock, P. M.


Met and adjourned till to-morrow morning, 9 o'clock.


·


613


NEW HAVEN CONVENTION.


1778.]


FRIDAY, JANUARY 30TH, 1778.


The Convention met according to adjournment.


The same members present as yesterday.


The committee appointed to reduce to form and prepare a draught of the proceedings of this Convention reported a draught, which being read was taken into consideration.


Adjourned till three o'clock P. M.


Met according to adjournment.


The Convention resumed the consideration of the report of the committee &c., which being read, paragraph by paragraph, was approved and is as fol- lows, viz:


When we see self-love, that first principle planted in the humane breast by the all wise Creator for our benefit and preservation, through misappli- cation and corruption, perverted to our destruction, we feel the necessity of correcting so pernicious an error and directing the operation of it in such a manner as that our self and social love may be the same.


The application of this remark to the present state of our public affairs is obvious.


The free born inhabitants of America, opprest by the tyranny of Great Britain, found it necessary for the support of their liberties to declare them- selves independent. To support that independency, it was necessary to raise and maintain an expensive army, and to issue large emissions of paper bills to defray the expences. Upon the support and success of this army, under God, depends the whole we are contending for, and on the credit of our currency depends immediately the support of our army; when therefore the principle of self-love impells the individuals of a community to exact and receive for their services or commodities such prices as exceed that propor- tion of prices, at which the army was raised and established, and to set no other bounds to their demands than what the necessity of the times will suffer them to receive, and to withold and conceal their necessary commodi- ties, unless their demands are complied with, is it not evident that this self love and attention to their supposed self interest have exceeded their true bounds; and tend not only to the destruction of the welfare of the communi- ty, but also of the individuals ?


Can a man in any reasonable view be considered as a friend to the American cause, who continually practices and with all his efforts supports such conduct, which if adopted by the community in general must work the destruction of that cause ?


Can the officers and soldiers support themselves by their pay at the present high prices of the necessaries of life ?


Can the community possibly afford to increase that pay, seeing bills with which they are paid must hereafter be redeemed in silver and gold, at the expressed value ? Can all the other expences of the war be supported at so high a rate ?


Must not therefore the rate of all expences be reduced to their original standard ? and do not therefore those persons who, by their clamours, oppo- sitions and engrossings labour to obstruct the reducing of prices, give evident proof that they are in fact enemies to the very cause they otherwise pretend to support ? do such persons well consider what is always said of the man


614


APPENDIX.


[1778.


who, zealously professing Christianity, lives in continued practice of the breach of its precepts ?


Induced by such like reflections, and feeling their obligation to superin- tend the welfare of the American States, the Honoble American Congress by their resolves of November 22d last, premising the necessity of reducing the quantity of circulating medium, in order to support its value, have recommended to the several States, in the strongest terms, to raise the sum of five million dollars by taxes, and to refrain from the further emission of bills of credit, to cancel the bills emitted by particular States, to support the war by taxes and loans; and for an immediate remedy of the exorbitant evils complained of, have recommended to the States of America in three divisions, to appoint Commissioners to regulate and ascertain, the price of labour, manufactures, internal produce, and commodities imported from foreign parts, military stores excepted, and also regulate the charges of inn. holders. The Commissioners therefore of New Hampshire, Massachusetts Bay, Rhode Island and Providence Plantations, Connecticut, New York. New Jersey, and Pennsylvania, have met in Convention at New Haven, on the 15th day of Jany in pursuance of said requisition of Congress, and while attending to the injunctions of their commission, have not been insensible of the principles upon which an opposition to the regulation of prices by law is founded; and though this measure is executed by them in compliance with the requisitions of the Honble Congress, yet as the government of America is not only founded on the good will of the people but by the wis- dom and sincerity of its administration recommends itself to their under- standing and approbation, they thought it not amiss to address this measure to the feelings and apprehensions of the inhabitants. It is evident that those principles on which such an opposition is founded were fully considered by the Grand Council of America, that they viewed the reducing the quan- tity of circulating medium by stopping the currency of the bills of the par- ticular States, and supporting the future expences by taxation and loaning as the essential remedy, and as what in time must work the desired effect, especially among a virtuous people, but that our present exigences require an immediate reduction of prices, which, though by those who are actuated by no better principle than contracted self-love may be considered as infringing the principles of trade and liberty, is nevertheless a salutary measure in connection with the others and practiced by all the States.




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