|
|
162 Correspondence of Governor Sharpe.
|
Letter Bk. I.
|
Sum of £7000 for His Majesty's Service was passed the
Majority of the Representatives fully intended to give that
Sum after an acceptable manner, but when some of the Poli-
ticians who out of their singular regard for the Pocketts of
their Constituents & perhaps their own Interest discovered to
the House that instead of £90000 of the paper Cash which
should have been brought into the Office some years since &
exchanged for New Bills, only £85, 984. 14. was brought thither,
consequently that the Difference between those two Sums
|
p. 104
|
remained still in the Office persuaded the Rest of the House at
least the Majority of them that the Sum of £4015. 6 must be
supposed to be sunk or annihilated by peoples wast of the
Bills or by fire or other Accidents, therefore that tho what was
laid into the Office to exchange these old Bills had they been
brought in at the time appointed should be now put in Circu-
lation yet it would not affect the Value of our Currency as
there would be in reality no more even then issued than was
ordered & directed by the paper Currency Act. thus these
patriots argued on the fallacious principle & Supposition of
that Sums being vanished & annihilated when every person
who pays or receives any considerable Sums of paper Money
knows & sees that that Money, at least a great Deal of it is
still in Circulation & the true Reason of its being not payed in
at the Office & exchanged for Bills on the Fund in England &
new Paper, was its being possessed by many people in such
small parcells that it was not worth their while to journey with
it to the Office some no doubt might be wasted but nothing
like the quantity they would have presumed; beside had we
concurred with the Lower House in permitting the Emission
of this £4000 upon the next Demand on them for Money they
would it is probable have been for another Coinage, the ill
Consequences of which are too obvious for me to mention,
especially if the Law to support it should be made to respect
at all the Fund on which the Credit of our present Currency
depends. Another Objection too to the Bill was its protracting
the time of the late Law regarding Ordinary & Pedlars
Lycences which I cannot bear to think of till I shall be favoured
with His Ldp's or your full Instructions as to those Articles. I
find that from the Jersey Govern' there already is a Law &
that it is expected that from the other Northern Governts there
will be Laws or Addresses sent home for striking Bills of
Credit; in Case these Requests should be heard at home I
must beg you to give me particular Directions for my Conduct
as I think it is more than probable that our people will be dis-
posed to fall on the same Scheme I have acquainted his Ldp
|
p. 105
|
with my having extended the time of the Assemblys proroga-
tion to the 20th of next Month soon after which protraction I
|
|
 |
