The New Hampshire Gazette Newspaper, January 21, 1757, Page 1

- am.ixony, and thas themtler defigmed i th. - b (¥ ~ go recéive when they fhall be yedeem’d. riday; Januvary 21. 1757, THE New-:Hampfbire B225SBLITILVVERIVESB/TITBI ith the Frefbeft Advices e g To the PusLisser of the New-Hampseire Gazerrs. O Bferwing in your lafi paper, a difcourfe om our bills of credit, awhich’ the author offers to the public, to prevent, as be fays, the mifchie- wous ¢effells of the falfe reafonings, in the paper to wbhich be ri- Sfers 5 Lavas not a little furpriz’d, to fee fuco notions deliver’d in_fuch a manner. But upon a review and confideration of the [entiments, and the fiile in which they are expre/s’d, 1 concluded lbf abole piece was the notions be bas there advanced. But as every reader may not under Sland that figurative language, and mary honcft people think a man m-ans as be fpeaks, efpecially avhen be prints what be [ays, there is fome dan §er this awriter may be mifunderfloed, the end be had in wieaw drfeated, and many of bis readers be cflablifs’d in the error be would correc?. It may therefore be proper to exprefs his thoughts avithoit trope or figure, to pull off the maojk, and difcover the nakediruth : andin plain language bis meaning would be to this rffcc?. * The manifeft defign of thar writer, is to fhow,(what almoft every one feels)the prefent low credit of paper bills (vulgarly called money, which they never were, but had their J birth and maintenance for want of it ) and the much lower they will bave upon the foot they now ftand, that we may introduce ( as every trading province oiight, which would know whether they have any Property) a filver mediam. It may gratify fome of your readers who will underftand this literally, and more who wil! underfland it rightly, nd perhaps prevent the mifchievous effeéls of much falfe reafoning on this fubjed, to give the following anfwer, to what is jultly ebferved in that piece, a place in your Gazette. That writer makes a great cry, and nobody thinks without great reafon, thet our bills are remarkably depreciated, and that filver muft be the ftandard—and indeed there can be no other, as the world is fo attach’d to that. For common confent gives the intrinfic value of money. But how comes our bills to be depreciated ? Did the go- vernment ever pafs an a& for that end ? Do not thefe bills pay the taxes made for calling them in as well as ever, and other taxes as far as they willgo, And will tbe{. not anfwer for any debt, to thofe who are willing to take them ? Thefe are all the advantagés that can be made of fome of them. The law has proportion’d the value of paperLiMts to filver. A fifteen fhilling bill of the laft emifiion is to pafls and oe eftimated equal in value to a dollar, if people will pleafe to takeit fo But if they refufe, I know not any difadvantage accrues to them by it.— Every one is frée in this cafe to do as be pleafes, and is the government to be blamed becaufe men enjoy their liberty ? Or will that prove the bills are bad ? They have no coercive power @ is it not therefore wholly @wing to pecples own wills, that deilars are fold o dear ? — But, to our great mistortune, we have litttle to do with dollars ; we hear of them among oiirfelves, only as d merchandize, 2 rare commodity among us ! (More is the pity, and the more preca- r:aus all property) filver is not cerrent as mouocy.. But the value of oar bills will fink, tho’ many can’t fee the realon of it. Forif the- currency of dollars themfelves (as well as they are now loved) was Ii- mited only to this province, their walue would fink too. Bilis will fink, and it can’t be avoided as dollars rife, tho’ they are only a merchansize among us. For they have an univerfal credit, and no body is weary of taking them. 'There is no {atiety here,but in the cafe of beef, corn and other eatables there is—and moft men are foon weary of boards— But where is the man who will confefs himfelf {aticfied with and tired of taking doliars —For my part I can’t help {eeing paper bills are greatly depreciated, tho’ I don’t know precifely every ttep by which 3t has been effefled. Indeed fifteen fhillings has the fame fourd thofe words had when paper bills were firft emitced, but as to thofe furns in bills of credit, it would be an infuperable tatk, to fiod any other marks of identity. Ican buy beef now it is very pienty, as cheap as I could three or four years ago, when there was not half fo much to be fold, and a great demand for it, and many other things might be mention’d which are not near in fo great demand as filver, and therefore are not taifed in proportion to that. But if we might fuppofe what will never be, that every hody would agree, totie every body’s hands ; that no- body fhould ever from henceforth raife the price of any thing above what it is at prefent, paper bills would not depreciate any more than they bave already ; and if every body would take them; at their pre- fent value, for whatever they had to fell, or were to be paid f paper bills would be as good as any money. The face of the 1 B .Qlive emiffion of bills is not alter’d. They were made equal to {5 much filver as they mention, and every budy ought to take them fo, while they continueto beof the fame value. Itwould be no real detriment, if we bad néthing to do with filver, in any other fhape than money, and by the face of our bills to know what they who pofiefs them, are And ’tis pity any more dif- fetence fhould be made between our bills of credit, and fterling bills of Veuy o ban.ir exchange, than the government made about two years fince. If mer- - chants and all others, would never raife the price of any thing, they / were to b¢ paid fory we fhould have no complaint about money’s being worfe. make a law that fhall limit them within due bounds, and that every Nums. 16, GAZETTE, N 282sessE 00088 BEREEDES Foreign and Domefick D owards the People there is falfe... . Let thofe who are fo fond of a filver currency, confider the refolute example of a neighbouring government, which has introduced it very feafonably, againkt all the pretended difficulties that were in the way. And tho’ fome petty traders and extravagant people have been broke by 1, the community are gainers,and every honeft man may now know, whether ke has any property or not. - The public has reaped fo much advantage by it, that if the queftion was to ge put and determined by = a general vote, whether they thould retarn to their old flate of a paper “Xrrency, it would doubtlefs be determin’d in the negative. As for the breaking of multitudes of retailers and petty chapmen, it was an advantage, that fuch people might be reduced to more ufeful employ- ments. And as that trade fuffered, the community gained : for the o abounding of thatfort of trading may be juft'y deemed 2 common nu And as money is hard to be acquired, people will naturally be more fragal in fpending it, and abate of thofe {uperfluities which a © pienty of fomething they falfely call money, and which is daily finking 2 o' in value, prompts them to purchale. But the people in this province g woald be loofess if the bills could be made better, for then it would be "5 3 mwore difficult to get enough to pay their taxes, though if the bills had 2 never {unk a farthing, they could not have been injured by the pay- msnt of the fame taxes : and therefore the fuppofed lofs is what they ought not to have had an opportenity or means of gaining. Particalar men who have bills by them, if they were made better while in their hands, would gain as much as the difference of the value between them then, and the value when they receiv'd them. But thisis no mare than what muft naturally refult from the poffeffion of thofe bills ; for if they had never funk in their vaiue, they will grow better, as the periods for redeeming them approagh. But what does he get who purchafed them feyen years ago, and parts with them now ? And how does a creditor come off, who recovers a debt in the courfe of the law now, that has been dueonly a feaw years ? Poor debtors indeed come w4/l off, if paying about half the real value of the fum contraéted for, may be juftly term’d fo. But why fhould thefe creditors complain ? Sftcen fpillings is fifteen fbillings, and fix pence is Jix pence, if they could buithink fo. bl \ - . Therefore, notwithftanding all the clamor about the fall of our bills of credit, having refolv’d my faith in this matter fhould be dire@ted not by the evidence of fa&, but by my particular inclinations in the cafe, which prudently follow my intereft, I will not be made to believe the bills have really fallen. What have we to do with the moaney af other provinces and nations ? We can fee but little of it, == . and never fhall be troubled with it, if we will but hold fait our Lil's, & which #hey will never take from us. Let us therefore trade wholly among ourfelves ( like the ancient Zidonians, awho bad mo bufinefs awith any man ) and keep our bills current, and value them as much as we gan, as the law directs. In orderto fuch a trade, we need do no more than raife every thing we want, or ufe nothing but what we raife. And to keep all things at par with the prefent prices, let us e French t d by th y ufe it - about 300 Men taken at Ofwego the 10th of Auguft lait, by oard had of the Barbar 0 n o ! W the Aeco 2 alfo, that nded ; as it is Shirley’s and Sisr William Pepperrel’s R ; ‘x}.bcingjfi h part of General e fiam alof fue iy ~ - body fhall buy do lars for fifteen fhillings, or go without' them. But if this will not anfwer, every one muft rife in proportion, or as he can, to be fure he muft look to himfelf ;— and if he loofes by one, make itup by another ; and thus things will be kept in an equilibriom : For as the proverb has it, two ¢——ts will make an even b n, and fo our bills will remain Jfuch as they are.” Thus I have endeavour’d to give the fenfe and fpirit of our adthor, which I believe 1 have not miftaken, and have not defignedly mifreprefented. METAPHRASTES, ] i tre, Mafler, a Frerch Ship from Quebeck, w lows are not to.come.on fhore till Direfli PHILADELPHIA, Fanuary 6. _In 2 Letter from Antigna to a Gentleman of this City, in which Mention is made of the Sticcefs of our Privateers in the 1fland:, Notice is taken of one Thomas Stephens, of that Ifland (commonly known by the Name of Big Headed {om) going out in a {mail Pilot Boat, with fix Swivel Guns, and 24 Men, and returning next Day with a French Snew, and a large Schooner, both laden with S8gar ; and that he fent arother Snow into Meontferat, which he took with only two white Men, and a Negroe, befides himfelf; the three Prizes are reckoned worth Sixteen Thoufand Pounds AntiguaCurrency., On Sunday laft Captain Eve arrived here from Jamaica, by whom there is Advice of 2 St. Chriftophers Privateer having carried four Prizes in there: And that Captain Fleming, in a Privateer belonging to Jamaica, had alfo taken and carried into that Ifland, alarge French Ship, beund to Leoganse fromMiflifippi, Loading chiefly NavalStoies. NEW-YORK, Fanuary 10. : : Monday laft Captain Corné arrived here from Amftetdam, bat laft from Falmouth in 47 Days: He has brought no public Prints, but fays that the King of Piuffia, immediately after the AQion of the ift of Od&tober, divided his Army, and gave the Command of Part of it to Count Schwern ; that he came up with, and gained a compleat Viftory over thatPart of the Auftrian Army commanded by Prince Piccolomini ; and that the Earl of Leicefter Packet, Captain Ratford,arrived at Fal mouth in 31 Days from' this Pore, e} rave .ijl Jennifde V- { b 6. Arrived Lz Ranomee. I French Foraes. Ivis faid herg that the o, N ’ mout b Py y of 5000 ONDON, a Bod Lo About p4 s inid