Historical Sketches of the Paper Currency of the American Colonies: Continental paper money

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W. Elliot Woodward, 1866

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Stran 186 - If it saved the State, it has also polluted the equity of our laws ; turned them into engines of oppression and wrong: corrupted the justice of our public administration : destroyed the fortunes of thousands of those who had the most confidence in it ; enervated the trade, husbandry and manufactures of our country, and gone far to destroy the morality of our people.
Stran 144 - I know not,) would be unjust and impolitic in the extreme. Perhaps I do not understand what they mean by using the sponge. If it be to sink the money in the hands of the holders of it, and at their loss, it cannot in my opinion stand justified upon any principles of common policy, common sense, or common honesty. But how far a man, for instance, who had possessed himself of twenty paper dollars by means of one, or the value of one, in specie, has a just claim upon the public for more than one of...
Stran 154 - In payment of the said monthly quotas, at the same rate as aforesaid of specie; the interest thereon to be computed to the respective states, to the day the payment becomes due. That the respective states be charged with such parts of the Interest on their said bills, as shall be paid by the United States, in bills of exchange; and the accounts thereof shall be adjusted agreeably to the resolution aforesaid, of the 6th of October, 1779.
Stran 143 - A bankrupt faithless republic would be a novelty in the political world, and appear among reputable nations like a common prostitute among chaste and respectable matrons.
Stran 60 - The enormous pay of our army, the immense expenses at which they are supplied with provisions, clothing, and other necessaries, and, in short, the extravagance that has prevailed in most departments of the public service, have called forth prodigious emissions of paper money, both continental and colonial.
Stran 155 - The aged, who had retired from the scenes of active business, to enjoy the fruits of their industry, found their substance melting away to a mere pittance, insufficient for their support. The widow, who lived comfortably on the bequests of a deceased husband, experienced a frustration of all his well-meant tenderness. The laws of the country interposed, and compelled her to receive a shilling where a pound was her due. The blooming virgin, who had grown up with an unquestionable title to a liberal...
Stran 136 - If it be customary with others to receive money in this way, that is, sixpence or one shilling in the pound for old debts ; if it is thought to be promotive of the great cause we are embarked in for individuals to do so, thereby ruining themselves while others are reaping the benefit of such distress ; if the law imposes this, and it is thought right to submit, I will not say aught against...
Stran 66 - Resolved, That all bills of credit, emitted by authority of Congress, ought to pass current in all payments, trade, and dealings, in these States, and be deemed in value equal to the same nominal...
Stran 173 - States at that time had been worried and fretted, disappointed, and put out of humor by so many tenderacts, limitations of prices, and other compulsory methods to force value into paper money, and compel the circulation of ,it, and by so many vain funding schemes, declarations...
Stran 55 - Do you think, gentlemen, that I will consent to load my constituents with taxes, when we can send to our printer, and get a wagon load of money, one quire of which will pay for the whole !"§ Our ancestors were lavish of their blood, in defence of their rights.

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