Colonial records of Pennsylvania, Vol. IV, Part 34

Author:
Publication date: 1838
Publisher: [Harrisburg] : By the State
Number of Pages: 814

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Few things require more the Attention of a Government than the Money current in it; for upon the real value of that depends all confidence in Trade, Forreign and Domestick. Yours has been so frequently counterfeited of late, that there is reason to apprehend the Security of your Laws has given encouragement to it. I am not in Inclination for sanguinary Laws, but it has been the Policy of all well-constituted Governments to proportion the Punishment to the Crime.

This Province has been for some years the Asylum of the dis- tressed Protestants of the Palatinate, and other parts of Germany, and I believe it may with truth be said that the present flourishing condition of it is in a great measure owing to the Industry of those People; and should any discouragement divert them from coming hither, it may well be apprehended that the value of your Lands will fall, and your Advances to wealth be much slower; for it is not altogether the goodness of the Soil, but the Number and In- dustry of the People that make a flourishing Country. The condi- tion indeed of such as arrived here lately has given a very just alarm ; but had you been provided with a Pest-House or Hospital, in a proper Situation, the Evils which have been apprehended might, under God, have been intirely prevented. The Law to Prevent Sickly Vessels from coming into this Government, has been strictly put in Execution by me. A Phisician has been appointed to visit those Vessels, and the Masters obliged to land such of the Passen- gers as were sick at a distance from the City, and to convey them, at their own Expence, to Houses in the Country convenient for their Reception. More could not have been done without inhu- manly exposing great Numbers to perish on board the Ships that brought them.

This accident, I cannot doubt, will induce you to make a Provi- sion against the like for the future.

Should I have omitted any thing immediately necessary for the

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Publick service, Your Experience will supply it, and my sincere regard for your Welfare engage me to join with you in effecting it.

To which the Assembly returned on the 5th instant, by five of their Members, the following Address :

To the Honourable George Thomas, Esq"-, Lieutenant Governour of the Province of Pennsylvania, and the Counties of Newcastle, Kent, and Sussex, upon Delaware.

The Address of the Assembly of the said Province.

May it please the Governour : '

We, the Representatives of the Freemen of the Province of Pennsylvania in General Assembly met, return the Governour our hearty and sincere Thanks for his kind Speech at the Opening of this Session.

As the Happiness of every British Subject depends, in a great Measure, upon the Succession of the Crown in his Majestie's Family, so the Addition to that illustrious House by the Birth of a Prince must of consequence prove a very agreeable Event to every true Lover of his Country, in as much as the Protestant Succession is thereby Strengthened, and our Happiness rendered the more secure.

The Raising of Hemp, Flax, and making Pot-ash, suitable to a Forreign Market, would undoubtedly be of great Advantage to this Province, contribute much to the making Gold current here, and by that means set reasonable Bounds to the Course of Exchange. And tho' the Essays formerly made to encourage the raising some of these Commodities had not altogether the desired Effect, yet we shall think it our Duty to attend with Pleasure, and apply ourselves diligently to the Consideration of any Proposition for so good a Purpose.

We entirely agree with the Governour that it is the interest of every Country that strict Care be taken to have all its Commodities, which are designed for Exportation, good in their kind. We think it our Duty to have a particular Regard to our own Staple, and shall, therefore, revise the Flour Act, and use the best means in our Power to remedy the Evils complained of.

Having now under Consideration, among other things relating to our Paper Money, the Reprinting our Bills of Credit, we shall en- deavour to make sucli Provision against their being counterfeited as shall appear to be most likely to secure us against Practices of that kind for the future.

We are of Opinion with the Governour, that the flourishing Con- dition of this Province is in part owing to the Importation of Ger- mans and other Forreigners ; But we beg leave to say that it is chiefly to be ascribed to the Lenity of our Government, and to the

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Sobriety and Industry of the first Settlers of this Country, and of the other British Subjects inhabiting the same.

We have a very grateful sense of the Governour's Care in put- ting in Execution the Law for preventing sickly Vessels coming into this Government, And we humbly hope the Governour will continue (when it shall be found necessary) to enjoin a strict Observance of that Act of Assembly, which together with a due Execution of our other Laws relating to the Poor by the respective Majistrates, will, we hope, in a great Measure prevent the dangerous Consequences of such Importations, at least untill it will better suit the Circum- stances of the Province to make a further Provision for or Secu- rity against Accidents of this kind.

It is with great Pleasure we hear the Governour declaring his Concern for the Welfare of this Province, and his Readiness to join with us in contributing to it. And as nothing more can recom- mend him to the Affection and Regard of the People under his Ad- ministration than a Readiness to promote their Happiness, so noth- ing can more effectually engage the Representatives of that People to make a handsome Provision for a Governour so well disposed.

11th Mon., 5, 1738-9.

At a Council held at Philadelphia, January 13, 1738 -- 9. PRESENT :

The Honourable GEORGE THOMAS, Esqr., Lieutenant Gov- ernour.

Samuel Preston,

Clement Plumsted,

Samuel Hasell, Thomas Griffitts, Esqrs.

Thomas Laurence,

The Minute of the 2nd of January being read and approved,

The Governour laid before the Board a Bill which was last night sent to him by the Assembly, Intitled an Act for Reprinting, Ex- changing, and Re-emitting all the Bills of Credit of this Province, and for striking the further sum of Eleven Thousand one Hundred and Ten Pounds five Shillings, to be emitted upon Loan, which was once read.

The Governour likewise laid before the Board two Petitions ad- dressed to Him, one from the Inhabitants of Providence, Limerick, &c., and the other from the Inhabitants of the Northeast side of the County of Lancaster, with a Map of the Province of Pennsyl- vania, Praying that a new County may be bounded as by the divi- ding Lines in the said Map, ffor that they labour under great in- conveniencies and damage by reason of their Distance from the Courts held at Philadelphia and Lancaster, and for many other

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Reasons in the said Petition mention'd; which were read, and ordered to lye on the Table for further Consideration.

Ordered, That Thomas Laurence and Thomas Griffitts, Esqrs., be a Committee to examine the Treasurer's Accounts relating to the Indians who came to congratulate the Governour on his Arrival in the Government, in order to their being laid before the As- sembly.

At at Council held at Philadelphia, January 15th, 1738 -- 9.

PRESENT :

The Honourable GEORGE THOMAS, Esqr., Lieutenant Gov- ernour.

Samuel Preston,

Samuel Hasell,

Clement Plumsted,

Thomas Griffitts,

-Esqrs.

Thomas Laurence,

The Bill intitled an Act for Reprinting, Exchanging, and Re- emitting all the Bills of Credit of this Province, and for striking the further sum of Eleven Thousand one Hundred and Ten Pounds five shillings, to be emitted upon Loan, was read a second time, Paragraph by Paragraph, and some Alterations and Amendments being proposed, Clement Plumsted, Thomas Laurence, and Thomas Griffitts, Esqrs., were appointed as a Committee to digest and draw up the said Amendments, and then the Board was adjourned till to- morrow at four of the Clock in the afternoon.

At a Council held at Philadelphia, January 16th 1738 -- 9. -

PRESENT :

The Honourable GEORGE THOMAS, Esq., Lieutenant Gov- ernour.

Samuel Preston,

Ralph Assheton,

Clement Plumsted,

Samuel Hasell, Esqrs.

Thomas Lawrence,

Thomas Griffitts,

The Committee appointed to draw up the Amendments to the Paper Money Bill delivered them at the Board, which being read, were approved of, and ordered to be wrote over fair against to-mor- row, in order to be sent to the Assembly.

Then the Governor laid before the Board an Instruction from the Proprietors relating to the making, issuing, or continuing Bills of Credit, which was read, and is as follows; Viz4 :

" Whereas, the making, emitting, or continuing too large a Quantity of Paper Money or Bills of Credit, within the said Pro- vince and Counties, may greatly affect the Exchange and the Trade

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of the said Province, and more particularly may affect the Rents and Quitrents which now are or hereafter shall become due to the Proprietors, You shall not, therefore, on any pretence whatsoever, pass or give your Assent to any Law or act of Assembly within the said Province or within the said Counties, either for making, emit- ting, encreasing, or continuing any Paper Currency or Bill of Credit whatsoever, unless there be inserted in each and every such Law or Act one or more enacting Clauses to provide effectually that the Quitrents and the other Rents due and to become due to the Pro- prietors shall be all paid from time to time, according to the true and real Rate of Exchange between the Cities of Philadelphia and London, at the times of such Payment.

" A true Copy. By Command.

"THOMAS LAWRIE, Secretary.

At a Council held at Philadelphia, January 17th, 1738-9.

PRESENT :

The Honourable GEORGE THOMAS, Esqr., Lieutenant Gov- .. ernour.

Clement Plumsted,

Samuel Hasell,

Thomas Laurence,

Thomas Griffitts, Esqrs.

Ralph Assheton,

The Amendments reported Yesterday to the Paper-Money Bill, were ordered to be sent to the Assembly this Afternoon.

The Governour then laid before the Board a Draught of a Mess- age to the Assembly as from himself, which he proposed should accompany the foregoing Amendments, which was approved of, and is as follows :

" His Honour, the Governour, in Council, to the Gentlemen of the Assembly.

" Gentlemen :

" As I determin'd on my first taking upon me the Administra- tion of this Government, to make Honour and Justice the Rule of all my Actions, and that no Temptation should induce me to deviate from that Rule, I concluded that I should not stand in need of the little Arts and Subterfuges of necessity put in Practice by such as have no other View than that of enriching themselves by the spoils of those they ought to cherish and protect; and as I have not hitherto found myself mistaken, I shall with my usual Sincerity give you my Sentiments on your Paper-Money Bill; which I have considered with all the Attention I am capable of, as well as the truest Regard to the Reputation and Welfare of the Province.

"Your Paper-Currency, by this Bill, is supposed equal to Pro-

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clamation Money, According to an Act of Parliament, made in the sixth year of the late Queen Ann, for ascertaining the Rates of Foreign Coins in the Plantations of America. The contrary of this you yourselves are sensible is evident ; since, as Exchange betwixt Philadelphia and London is at Seventy per Cent., your Currency is at this time £36 13 4 P. Cent. worse than Proclamation Money, the Difference betwixt that and Sterling being but £33 6 8. This being the case, the Injustice of obliging (as this Bill does) all Per- sons to receive it as Proclamation Money, in discharge of Bonds, Rents, &c., tho' contracted to be paid in English Money, is appa- rent, and contrary to the Intention of all Laws which ought to se- cure Men's Rights, and not destroy them. I must, therefore, recom- mend to you that a Clause be added effectually to provide for the Payment of all Sterling Debts and the Proprietary Quit-Rents, according to the true and real Rate of Exchange between Philadel- phia and London at the time of such Payments ; for without such a Clause I cannot, consistently with your Proprietor's Instructions and my own Security, give my Assent to this Bill; and that you may see I do not industriously seek for Arguments to disappoint you of a Bill you have so much at Heart, I herewith send you a Copy of their Instruction to me on this head.

"I conceive it will not be thought necessary for me to enter minutely into a Justification of this Instruction, when the Senti- ments of that Assembly which passed the last Paper Money Bill in 1729, in their Address to the Proprietary Family, shall be con- sidered. I chuse, therefore, only to transcribe a Paragraph of that Address, Vizt .: 'As those Quitrents are to be paid in English Money, or Value thereof in Coin Current, it is our Sense, and so it must always be understood, that an English Shilling, the com- mon Quitrent for One Hundred Acres of Land, can be no otherwise discharged, than by such a shilling, or the real Value of it in the current Coin then passing;' And to observe, that as the Payment of the Proprietary Interest is now as much disputed as ever, notwith- standing this honest Declaration, no Method is likely so effectually to put an end to these Disputes, and to prevent Law-suits which will be attended with great Expence to the Country, as the Addi- tion of such a Clause to this Bill as is mentioned in that Instruc- tion.

"When I reflect on the great privileges and Benefits confered on the Inhabitants of this Province by the first Founder of it, on the grateful Acknowledgments made of them by a Number of Successive Assemblies, and on the sincere Inclinations of your present Pro- prietors to do every Thing that may add to your Prosperity, I perswade myself that you will, consistent with your Characters, shew as much Justice in preserving their Rights as their Father did Affection in securing your Liberties.

"The Right Honourable the Lords Commissioners for Trade and

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Plantations having by their Secretary, in a Letter to the late Gov- ernour Gordon, declared their Dislike of the Bills of Credit passed in this Province, and their Resolution if any more such shall be passed to lay them before His Majesty for his Disallowance, I would advise that your whole Paper-Currency be not risqued in one Bill; for should it be repealed after the Bills have circulated thro' many Hands, How great will be the Confusion? Should you resolve however to hazard all, would it not be more prudent to settle your whole Currency at Seventy-Five Thousand Pounds? For as that Sum is known to their Lordships to have been heretofore emitted by several Laws, and the ill Consequences attending such Emissions have not been so great as in the Places mentioned by their Lord- ships, they may be more reasonably induced so to recommend this Bill to his Majesty, as that it may not be repealed.

"It gives me some Uneasiness that I should be obliged to object to a Bill you think so essentially necessary for the Trade and well- being of the Province; but every candid and impartial Person will acquit me of the least Disregard to your Interests, and acknowledge that I cannot act otherwise without the Imputation of Injustice, and without incurring the Guilt of a Breach of Trust.

"GEORGE THOMAS."

Åt a Council held at Philadelphia, January 20th, 1738-9. PRESENT :

The Honourable GEORGE THOMAS, Esqr., Lieutenant Gov- ernour.

Samuel Preston,

Clement Plumsted,

Ralph Assheton, Samuel Hasell, Esqrs.

Thomas Laurence,

Thomas Griffitts,

The Governour laid before the Board a Message he received yesterday from the Assembly by two of their Members, who desired at the same time that he would appoint a time for a Conference with the whole House on the Subject Matter of the Amendments sent down to the Paper-Money Bill, which Message is as follows:

"In the House of Representatives, the 19th of the 11th Mon., 1738-9;

"To the Honble George Thomas, Esqr., Lieutenant Governour of the Province of Pennsylvania, &c.

"May it please the Governour :

"Having taken into our Consideration that Amendment sent down to the Bill for Reprinting, Exchanging, and Re-emitting all the Bills of Credit of this Province, and for striking the further Sum of £11,110 5 0, to be emitted upon Loan, which excepts all VOL. IV .- 21.

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Debts, Rents, and Quitrents already agreed or that shall hereafter be agreed to be paid in Sterling Money now due, or that may be- come due to the Proprietaries of this Province; And all Debts due to his Majestie's Subjects in Great Britian, agreed to be paid in such Sterling Money. We are humbly of Opinion that such an Exception in the Bill would tend greatly to the lessening the Credit of our Paper-Money, and consequently must very deeply affect our Trade and Commerce, both among our Selves and with Strangers. And we beg leave to say further, That in our Judgment the Amend- ment proposed will rather be injurious to our Proprietors than otherwise, as well in the Sale of Lands not yet granted, as in receiving the large Sums of Money now due for Lands already sold.

"Signed by Order of the House, "ANDREW HAMILTON, Speaker."

To which the Governour sent the following Answer, with a Verbal Message, that if they continued to desire the Conference proposed yesterday, he was now ready to receive the whole House or a part, as they should think proper.

"The Governour in Council to the Gentlemen of the Assembly : " Gentlemen :

"Whatever comes from the Representatives of the Province will always have its due Weight with one disposed, as I am, to use all honourable Means to preserve Harmony and a good Understanding with them. I can not, however, but own myself a little disappointed by your Message relating to the Paper-Money Bill now before you, the Amendments sent to you having been accompanied with a par- ticular Message from myself, containing, as I thought, unexception- able Reasons why I cannot pass that Bill as it is now drawn; but you have been pleased to over look that Message, and object only to one of the Amendments proposed, for the following Reasons, Viz“ :

"Because you apprehend it will tend greatly to the lessening of the Credit of your Paper-Money, and consequently affect Trade and Commerce.

" And because it will be injurious as well in the Sale of Lands not yet granted as in receiving the large Sums of money now due for Lands already sold.

"In reply, I must freely tell you that no Credit but what is founded on Justice can long subsist; And that had your Currency been really of equal Value with Proclamation-Money, Exchange had never risen so high, nor these Amendments been at this Time proposed to your Bill; And farther, that the Credit of the Paper- Money in other Colonies has not been lessened on account of any such Exceptions, but because the Sums emitted have been above their real Wants, of which the present State of it in Boston, Mary- land, and Carolina, are evident Proofs.

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" To the second Reason I reply that common Justice entitles the Proprietor to the real Value of their Quitrents, and that, without the Exception proposed, it is evident from times past that they will not be better treated for the time to come, even tho' succeeding Assemblies should declare as that did in 1729.

" Your Proprietors must be contented when Justice is done them in regard to their Quitrents, to run the same Hazard with you in regard to the sums due or that may be due on the Sale of Lands, those being generally Contracts of another kind; And it will be no Small Benefit to your Currency that they will be engaged in In- terest to keep up the Credit of it, and to keep down Exchange, And will be obliged to purchase the Produce of the Country to make Remittances, the Sums due to them on Sale of Lands being very much greater than those due for Quitrents.

" GEORGE THOMAS."

Pursuant to the verbal Message, the Assembly, by two of their Members, signified to the Governour that a Committee of their House is now coming to confer with him on the subject of the Amendments, to which the Governour reply'd that he was ready to receive them.

The Committee appointed to manage the Conference on behalf of the Assembly spoke in Substance as follows :

That by the Bill entituled an Act for Reprinting, Exchanging, and Re-emitting all the Bills of Credit, &c., as it passed the House, it is provided among other things, That Tenders to be made in the Bills of Credit for Discharging any Debt or Debts, &c., should be as effectual as if the Current Silver Coin of the Province had been offered, &c .; By the Amendment sent us from the Governour it is proposed there should be an Exception in three Cases-

1. Of Debts and Duties to the Crown.

2. Of Sterling Debts.

3. Of Quitrents and other Rents due to the Proprietors.

As to the first, since we know of no other Debts due to the Crown within this Province but such as are secured by Acts of Parliament, the House are of Opinion nothing in the Bill under Consideration could possibly affect them, and, therefore, they hoped the Gover- nour would think any Provision respecting them unnecessary.

To the second, That inasmuch as this Bill does not propose any alteration in this respect of the Laws now in being, and since by the Laws as now understood there generally has been regard had to Debts contracted with Merchants in England, by an Allowance of the current Exchange in Courts, by Jurors and others, so we suppose like Regard will be had if the Bill should pass without the Amendment proposed. That they think it more prudent to leave this as a Matter to be governed by Usage among Merchants rather

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than by any Law positive concerning it, least it should introduce In- conveniencies greater than those it intended to avoid. That they looked upon this as most agreeable to the Practice of our Mother Country on like Occasions, where, tho' it is the undoubted Pre- rogative of the Crown to ascertain the Rates of Coin, yet even there (as in Guineas for Example) Coin had its Rise and Fall, And when any Disputes have arisen concerning it, the Course of Ex- change and Usage of Merchants (by the Wisdom of the Nation) have usually governed in the Case. That tho' Acts of Parliament have been formerly made to restrain Exchange, that it should be Value for Value, and not otherwise, yet the necessity of Commerce prevailed against the Law, so that a greater Exchange has been allowed. All which considered, they hope the Governour would re- cede from this part of the Amendment.

To the third part of the Amendment proposed, the House were of Opinion that to pass the Bill with the Amendment, or to reject it without the Amendment, would, in either Case, be greatly inju- rious, both to the Proprietors and People of this Province.

If past with the Amendment, for divers reasons :

1. For that Money ought to be the common Measure or Standard of the Value of all other Things, and any Restrictions to confine or lessen its general Use, must consequently affect its Credit. That Experience justifieth the Truth of this Position, of which they con- ceived the Case of Maryland to be a pregnant Example.

2. To lessen the Credit of our Bills must injure, more or less, every Man in the Province, and particularly Widows and Orphans, tho' we conceived no body more than our Proprietors themselves, because none, we supposed, have Right to receive more of those Bills ; Besides, that they must share considerably in the Damage others receive, as it has a Tendency to lessen the Trade and Riches of the Province.

3. The Amendment proposed would be making a Law to debar such from being heard in Courts of Judicature, who now think they have a Right to contend against the Exchange demanded.

. 4. Such an Exception would, we conceive, render the Payment of Rents very precarious and uncertain. Exchange is often fluctu- ating-rises and falls in proportion to the Exigencies of Trade and Necessities of such who want to Make Remittances ; Whilst Silver passed here at 9-2 the Ounce, Exchange at times did not exceed £12 10 Proclamation # Cent. After this, and even before any of our Bills of Credit were issued, it advanced to £40 $ Cent ; Since, it must be confessed, it is much higher. What part of it is owing to Paper Money is uncertain ; And tho' it were wholly so, yet to make Exchange the Standard for the Payment of Rents, would not only be above the true Value of them, but open a Door for Injuries by the further rise of Exchange, owing perhaps to the Caprice,

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Artifice, or Design of Evil Men. To reject the Bill because the Amendment proposed is disagreed to, must, also, we think, greatly injure the Proprietors and People; because,-

1. The Proprietors have large sums of Money to receive for Lands sold and Rents in arrears, which, unless this Bill passes, their Debtors will be unable to pay.

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Colonial records of Pennsylvania, Vol. IV, Part 34

Author: Publication date: 1838 Publisher: [Harrisburg] : By the State Number of Pages: 814

Author:
Publication date: 1838
Publisher: [Harrisburg] : By the State
Number of Pages: 814