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U. H. J.
Calvert
Paper
No. 735
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Currency stands, by which you will find, that whatever of the Money
now subject to be lent on Loan is taken away, must in proportion
lessen the Security or Fund of Our Currency; for all Monies to be
lent, must be repaid either in Paper Money or Gold and Silver; if
in the first Species, there will be so much the less, at either of the times
of sinking Our Paper Money, in Circulation to be paid off, and con-
sequently Our Fund will be (in Case of any Deficiency in Our Cal-
culations upon which the Paper Money was struck) the better able
to discharge such Money in Circulation; But if the Repayment of the
Monies lent, should be in Gold and Silver, such Gold and Silver will
the better enable the Publick to discharge the Paper Money in Cir-
culation; so that in Either of the Cases, the Possessors of the Paper
Money will have better Security and Expectations of having their
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p. 24
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Proportions paid as the Paper Currency Act directs, and conse-
quently the Credit of Our Fund better supported, if none of the
Monies, unappropriated to particular Uses and Purposes, be issued
but on Loans, or be replaced, if issued otherways: And although We
must own, the Paper Money has been formerly very liberally made
Use of, and that this (if any Occasion) can justify Our further
medling with this Money, yet We ought certainly to take Care to
replace it, which this Bill has not in the least provided for
We must further take Notice that this Bill directs Encouragements
to Serjeants Corporals and Drumers, which We apprehend are
improper in such Cases and impracticable at the times of Payment
directed by the Bill
The Preamble to the last Clause (except One) which speaks of the
punishment of those, who shall leave his Majestys Service, seems to
clash with his Majesty's Authority established by frequent Acts of
Parliament
The Bill directs the Bounty to be paid to Persons as soon as they
shall be enlisted; This, We are satisfyed must prove exceedingly
prejudicial to his Majesty's Service; for it can hardly be imagined,
but that such Money as soon as paid or spent, will forward, and not
in the least restrain Desertions: And We are thoroughly convinced
that nothing can more surely prevent the desired Levies, than the
Clauses, which take Notice of Debtors; for if the Law be clear, that
Enlisting is an Exemption, We ought not to alter or in the least
restrain the Effect of the Law in this Case; But if that Point be
doubtful, surely We ought not to resolve that Question, either by
express or implicit Words, against such an Exemption, by a Bill
which is to encourage the Levies; for you must without doubt be
sufficiently apprized, from the Dispositions of Our Inhabitants, that
very few people who are clear of Debt and live with any tolerable
Ease here, will by any Motives even of Honour and Riches be in-
fluenced to this Expedition in the Station of common Souldiers
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