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Show 216 Reina/71‘: and F1267: relative to [A: B.T.] to mention again our own bank bills; Holland? which underi'tands the value of cafh as well as any people in the world, would never part with gold tee AmeriemzPaper-money. 217 of w/Jrztewr remain: in the country ; then the rrfing of filver above paper to that heiOht of additional value, which its capability of eiportation only gave it, may be called a depreciation of the and {river for credit (as they do when they put it into their bank, from whence little of it is ever afterwards drawn out '*') if they did not think and paper. find the credit :1 full equivalent. The 5th Reafon is, " T/mt debtors in [be af~ flew/zit: mil/cc paper-money with fraudulent views." This is often faid by the adverfaries of paper- or not wanted for exportation, its price has varied from 5 s. 2 d. to 5 s. 8 d. per ounce. This is near 10 per cent. But was it ever {aid or thotwlit on fuch an occafion 3 that all the bank bills rind all the coined filver, and all the gold in the itine- dom, .WCI‘C depreciated 10 per cent. 3 Coingd filver is now wanted here for change, and 1 per cent. is given for it by {01116 bankers; are Gold money, and if it has been the cafe in any particular colony, that colony fhould, on proofof the Even here, as bullion has been wanted fact, be duly punifhed. This, however, would be no reafon for punifliing other colonies," who have not foabufed their legiilative powers... To- and bank notes therefore depreciated 1 per ceiit. P deprive' all the colonies of the convenience of -O-The fact in the middle colonies is really this: Paper-money, becaufe it has been charged on ref-21:13: iiflfliibii- 1:235? Valier'm'iw' " dif- fome of them, that they have made it an», infirument-of fraud; is as if all the India, Bank, and ., t . -_ n that and hirer; the latter haying a property the former had not, a other flocksand trading companies were to be property alwaysin demand in the colonies; to wit, its being fit - for .a remittance. This property abolifhed, becaufe there have been, once in an age, haying toon found its value, by the merchants bid: Miflifiippi and South {ea fchemes and bubbles. The 6th and lait Reafon- is, " $1724: in the midL die colam'et, 11);)??? [be paper-7120723 [ms jam ég/f firpporfed, tine bill; have never kept toptheir. nominal value in circulation ;. but. have cenflzzm‘éy depre- coming to be rated at 8 thillinqs in paper-money of NC‘KV‘IrOl'k, and 7s. ()d. in pig‘rcz‘otiii‘enlyltvinia- ciated to a certain degree, whenever the quantity- provrnces now near 4.0 years, without any varia- }.an been inereafid."--If the tiling of the value of any Particular commodity wanted for exportation, is tobe confidered as a depreciation of theyalues the paper Cin'rency hrs at times inercaicd from "' [Perhaps Dr. Franklin had not at this time read whatSir James f Stewart {ays of theAmfterdam bank reiffuing its money., E.] o (ling on one another tor it; and a dollar thereby It has continued unilormly at time Lites in botli tion upon new cnii‘diom; though in Pen-[inlvania I5,ooo/. the that turn, to 600,ooo/. or near it. ~Nor his my alteration been occalioncd by the payer-money, in the price ot‘thc 1"‘Celli‘il'ltffi Mint, when compared with iilvtr: 'l'hev have been {or ' I: f the |