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454 Correspondence of Governor Sharpe.
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Letter Bk. IV
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tenth Part so great as it has proved You will easily conceive
that all the Land Holders especially the Papists were exceed-
ingly allarmed at hearing that they were to pay such an
unequal Share or Proportion of the Money which had been
granted for His Majestys Service, at the same time the Few
who had got the Paper Money into their hands conceiving
that those who should want it to pay their Tax with must pur-
chase it at any Rate, immediately raised its price or Lowered
the Exchange, so that altho One might with a Bill of Excha
for £100 Stg about a year ago purchase a hundred & fifty five
Pounds Currency such a Bill would not now procure more
than £140 Currency & had not the Duration of the £40000
Act been extended there was no Doubt but within a few
months those Persons who had Collected the Paper money
would have Lowered the Exchange five or six pr Cent more.
To avoid therefore this Evil & prevent the Confusion which
there must otherwise have been in the Province (for by an
Error of the Clerk who issued the abovementioned Certificates
in Directing them to the Sheriffs of the several Counties
instead of the Collectors of the Land Tax, it was doubted
by many whether Distress could be legally made for the said
Additional Tax) the Gentlemen of both Houses, I believe
every Member but one seemed fond of Relieving the Land-
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p. 133
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Holders by protracting the Term for which the £40000 Act
was originally intended to remain in force, the only Differ-
ence or Question between the two Houses was, for how
long a Time the said Act should be continued, the Gen-
tlemen of the Lower House having proposed three years &
those of the Upper House one year thinking it would be
better at the next Session to continue it One year longer than to
protract it for so long a Time at once, however as both Houses
were desirous (as I have already hinted) that some Bill or
other should be passed, they at length agreed upon continu-
ing the £40,000 Act for the Term of Two Years longer, the
Lower House having admitted an Amendment proposed &
insisted on by the Upper, & having consented to leave out some
Clauses which they had inserted in the Bill relative to the
Payment of Gold & Silver in lieu of Paper. This Affair which
every Body in the Province except a very few who would
have taken Advantage of the Peoples Necessities had much at
heart being dispatched, I suppose I shall be soon desired to
put an End to the Session: for as to the Business which I
recommended to the Two Houses at the Opening of the Ses-
sion I never imagined it would be accomplished & I told Genl
Monkton almost as much when I acknowledged the Receipt of
his Letter which I must observe to you was wrote when the
Fate of Canada was uncertain, nor do I believe that the
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