Colonial Records Volume 14

Colonial Records Volume 14

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1853 edition. Excerpt: ... that the making it a legal tender is the only provision wanting to cure these disorders. With what probability of success any person 'acquainted with public transactions can easily determine. The iniquities of tender laws, and the evils of a paper currency, may, we hope, be avoided, if the funding plan is confined to the objects we wish to be comprehended. For this purpose the arrearages of taxes and the imposts, may be suflicient for several years to turn all the gold and silver arising from the imposts, &c., into paper, and to re-tax those citizens who have paid their shares of former taxes, while such large sums are still unpaid by others; and to make these extraordinary efforts in order to pay an immense interest to the purchasers of certificates, are measures that tend to the injury of the Commonwealth, however profitable they may be to some individuals. But it is objected, in the answer to our message, that "tho discrimination between original holders of certificates and purchasers must be extremely diflicult." Admitting the difliculty, yet it is surmountable. Such a "discrimination" may be made. It can be made, notwithstanding all the obstructions so ingeniously magnified by purchasers of certificates, and their friends. It has actually been made, and in an instance quoted in the answer, "the appropriation of the excise for the benefit of the army;" and accordingly interest is now annually paid for near two hundred thousand pounds, upon certificates retained by the original holders 'till the provision was made, so that more than one-half of the depreciation certificates were, by the said discrimination, excluded, because they were alienated; and if they had not been excluded, the...
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Product details

  • Paperback | 242 pages
  • 189 x 246 x 13mm | 440g
  • United States
  • English
  • black & white illustrations
  • 123689829X
  • 9781236898296