94 Assembly Proceedings, Feb. 22-Mar. 26, 1755.

L.H.J

Liber No. 48
March 2:

The following Message, viz.
By the Lower House of Assembly, March 21, 1755.
May it please your Honours,
We have considered the Objections, offered in your Message of
the Ipth Instant, against the Bill for raising a Supply towards.his
Majesty's Service, and as they are by no Means satisfactory, we
have once more returned it for your Honours further Considera-
tion, with such Reasons in support of it, as still convince us of its
Propriety and Expediency, and we hope will be sufficient to remove
all Objections to its passing.
Your Honours say, the Bills signed and never yet circulated,
must be allowed to be of no Value at present, neither can they be
uttered to the Public with any beneficial Effect, until some Act of
the Legislature of this Province shall give them a Sanction; and,
we say, this Bill, should it pass, wou'd be that Act of the Legis-
lature; for be pleased to consider, that the £4015:6 now in the
Office, and proposed by this Bill to be delivered out, has received,
in Virtue of the Act for emitting and making current Ninety thou-
sand Pounds, Current Money of Maryland, in Bills of Credit, all
the requisites necessary to constitute it Money, it has been signed,
numbered, and dated, by the Commissioners, and is Money under
that Act to all Intents and Purposes, save, that the Commissioners
have not Authority thereby to deliver it out: The Bill now under
Consideration, were it passed into a Law, would give them that

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Authority, and we cannot conceive what more is necessary to make
it Money, and give it equal Credit with what is now in Circulation,
as by the Bill, the like Sum, of the Money now actually in Circula-
tion, is in a short Time to be destroyed, to avoid an Increase of the
capital Stock, by Means of these Bills. But if any Alteration of the
Bill, in this Particular, should still appear to you necessary to give
those yet incirculated Bills the same Value, and put them on the same
Footing with the Money now circulating, we shall readily agree to
any Amendment your Honours shall think fit to propose for that
Purpose; and we must observe, that whatever Reasons you might
have on this Account, to object to our Bill, they could be Reasons
only for offering an Amendment, (which we hoped would have been
the Effect of the Condescension in the last Paragraph of our former
Message), not for your Refusal of it.
There can be no Doubt, but that the Emission of Twenty or
Thirty Thousand Pounds, of new Money, would greatly depreciate
the Value of the Money now current among us, because the Fund
now raising to sink such Money, and which alone gives it it's real
Value, would not be large enough to sink so great an Increase of the
capital Stock, and consequently many of the Proprietors of the
Money, at the Time of sinking, must lose that Advantage, which