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L.H.J.
Liber No. 48
March 14
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and the several Funds appropriated to that Purpose, must undoubt-
edly be done in a few Months; after which all Monies that shall be
paid into the Office are to be retained, and, at each respective Session
of Assembly after the Payment thereof, burnt, until the Sum of
£4015: 6: 0 shall be destroyed; we are at a Loss; to conceive, how so
small an Increase of the principal Stock, and that for so short a
Time, and without any Manner of Alteration of the original Plan,
upon which the Paper Currency was establishd and emitted, shou'd in
the least depreciate it.
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p. 60
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We cannot see the Necessity of calling in the several Sums now
out on Loan to answer the Purposes of the Bill, and if there were
any, the Reasons for your Apprehension, that it wou'd in any Pro-
portion lessen the Security or Fund of our Currency, are beyond our
Conception, as your Honours have already, this Session, pass'd a
Bill, (and we must presume, without the least Apprehension of that
Kind), for the speedy calling in the Interest due to the Province,
on all Sums out on Loan, which, in its Consequences, will probably
bring in several of the principal Sums with it.
Your Objection, that the Ordinary Licence Fund is too far mort-
gaged to be subjected to the Payment of other Monies, might indeed
have some Weight, if the several Sums of Money heretofore granted,
and paid out of the Loan Office, were to be replaced therein by that
Fund only; but if your Honours will be pleased to consider, that by
a late Act for his Majesty's Service, and this Bill, several new and
additional Duties, Imposts, and Taxes are laid, which, together with
the Ordinary Licence Fund, will run annually, upon the most mod-
erate Calculation, the Sum of £2000 you must surely be convinc'd
that these several Duties, together with that Fund, will be more than
sufficient to replace all the Monies heretofore, and by this Bill, pro-
posed to be issued and paid out of the Loan Office, by the Time of
sinking our Paper Currency, that the Public can suffer no Loss by
Means of the Monies not being replaced by that Time, and that there-
fore the Fines and Forfeitures accruing on Ordinary Licences are not
too far mortgaged. We shall not now take Notice of the Irregularity
of your Remark on a Message of the late House of Delegates, but can-
not help remembering that your Honours, in July last, were fully
convinced, that the Ordinary Licence Fund was not too far engaged
to be made liable, with other Duties, to the Payment of so large a
Sum as £6000 and here we must observe, that as you then passed
an Act for his Majesty's Service, by which the Ordinary Licence
Act was expressly continued, and the Monies arising from thence
appropriated, in the same Manner that is proposed by the present
Bill, we can't conceive what other Motives you can now have to
object to this Appropriation of them, but since you are pleased to
tell us you have, we must presume they are of greater weight than
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