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Proceedings and Acts of the General Assembly, May, 1730-August, 1732
Volume 37, Page 75   View pdf image (33K)
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The Lower House. 75


Which Petition was read here and rejected.
Collo Ward and Benjamin Tasker Esqr from the Upper House
delivered to Mr Speaker the Governour's Answer to the last Address
of this House which was this [The text of this answer is printed
at page 13.]
And the following Paper Viz.

L. H. J.
p. 189

Reasons against the Act of Assembly for Improving the Staple of
Tobacco in Maryland.

Because as to the General View of the Act it Appears Very doubt-
ful whether it will in any Measure Answer the End intended so as
Either to diminish the quantity of Tobacco to be made in the Prov-
ince or raise the price in proportion to such Diminution Since the
Value of the Tobacco depends upon the Demands of foreign Mar-
kets which are not Confined in their Supply to Maryland, but may be
Supplyed from Divers Other Plantations as well of English as of
Dutch & French
Because the Method prescribed by the Act for Adjusting future
payments in Tobacco upon the foot of a Supposed rise of its Value
is unequal & Consequently unjust for let the Value rise as it will that
Can be no reason why the Property of the Publick or of any Private
man should be in any Degree Substantially Diminished which must
Necessarily be the Effect of this Act for Supposeing the Value should
Rise one fourth above its price precedent to the Act the future pay-
ments Ought at Least in all Events to be three fourths of the Whole
Tobacco that would Otherwise be due. & these three fourths ought
not to be put upon a worse foot than the Whole was before the Act
by forceing the Owners to Sell those three fourths at any Certain
price and much less at the Certain price of Ten Shillings p Cent
which is as I am Informed not more than the usuall price of Tobacco
Precedent to the Act.
But Supposing on the other side it is uncertain whether Tobacco
will rise in that proportion it is Still more unjust that the Creditor
Whether the Public or any Private person should run all the Hazard
of the Act without a possibility of gaining by it which must be the
Case where the Election is given to the Debtor Either to pay it in
Tobacco or in Mony at a Certain rate.
Because if the future payments in Tobacco were to Stand upon
their Old foot without any Deduction tho the Tobacco should rise
in Value by the Diminution of its quantity Yet in the Event neither
the Receivers of the Tobacco when at that Advanct price would be
Gainers or those who pay be Loosers by it because the Riches of the
People & the Price of all other Commodities will probably encrease
in Proportion.

p. 190

That the Riches will be encreas't in that Case is Manifest because
a Lesser quantity of Tobacco will be Equal in Value to a greater

p. 191



 
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Proceedings and Acts of the General Assembly, May, 1730-August, 1732
Volume 37, Page 75   View pdf image (33K)   << PREVIOUS  NEXT >>


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