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Show 212 Remarks and F(16?: relative to .fum in filver from Britain to reimburfe their expences in taking Louiibourg, which, with the gold brought from Portugal, by means of their fiih, kept them fupplied with ‘a currency; till the late war furniihed them and all America with bills of exchange; f0 that little caih was needed for remittance. Their firheries too furniih them with remittance through Spain and Portugal to Eng- l .land; which enablesthem the more eafily to re.tain gold and filver in their country.---The mz'dd/e .C'olmzz‘er have not this advantage 5, Nor have they tobacco ; which in Vzrgz'm'u and Maryland anfwers ll l Ml El ..< Jr .A ini‘ Al (Ll‘ "a n ‘ "Tn? ""5"an rm: rimmmew the fame purpofer-W'hen colonies are {0 difi'erent in their circumfiances, a regulation that is not inconvenient to one or a few, may be very much {0 to [A: B. T.] the drunken Paper-money. 213 min, an independent great ftate, when its inhabitants grow too fond of the expenfive luxuries of foreign countries, that draw away its money; can, and frequently does, make laws to difcou- rage or prohibit fuch importations; and by that means can retain its caih. The calories are de- pendent governments; and their people having naturally great refpeét for the fovereign country, and being thence immoderately fond of its modes, manufaétures, and fuperfluities, cannot be re- Itrained from purchafing them by any province .law; becaufe fuch law, if made, would immeu diately be repealed here, as prejudicial to the trade and intereft of Britain.--It feems hard therefore to draw all their real money from them, and ,the reit.--But the pay is now become {0 iridiflEreiit .then refufe them the poor privilege of ufing pa- in New England, at leaft in fome ofits provinces, per inflead ofit.-Bank bills and bankers notes through the Want ofcurrency; that the trade thi.ther is at prefent under great difcouragement. The 4th Reafon is, " T/Jut every medium of trade flaw/d [save an intrinfic value ; w/yz'c/J paper- .mouey but 7201‘. Gold and fl/ver are z‘berefire t/Je fittcfl for t/Jz'r medium, ar they are an equivalent ; were/5 paper never am [)e."--However fit a particular thing may be for a particular purpofe; wherever that thing is not to be had, or not to be had in fufiicient quantity; it becomes necef- fary to ufe fomething elfe, the fitteft that can be "got, in lieu of it. Gold and filver are not the produce of North America, which has no mines ; . and that which is brought thither cannot be kept there in fuflicient quantity for a currency. Bri'tm‘u» are daily ufed /Jere as a medium of trade, and in ‘large dealings perhaps the greater part is trani; .216th by their means ; and yet t/Jey have no in- trinfic value, but reit on the credit of thofe that fine them 3 as paper-bills in the colonies do on the credit of the refpeétive governments there. Their being payable in cafh upon fight by the drawer, is indeed a Circumftance that cannot attend the colony bills ; for the reafons juft above-menIlotled, their cafh being drawn from them by the 'Bntifh trade; But the legal tender ‘being fublti, tuted in its place, is rather agreater advantage to the poffeflbr; fince he need not be at the trouble Ofgomg to a particular étml' or banker to demand {1123? money, finding (wherever he has occaflon to _, l 21y - |