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Page: 14

The History of the Insurrections, by George Minot

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long time put into their hands, and paid their creditors in a depreciated currency ; and some might have discharged their obligations in a more honourable manner : But great part of the community were yet loaded with ancient debts, made still more burdensome from an increase of interest. Private contracts were first made to give place to the payment of publick taxes, from an idea that the scarcity of specie did not admit of the payment of both. The former therefore, were made payable in other property than money, by an act of the 3rd of July, 1782, commonly known by the name of the Tender Act. By this it was provided that executions issued for private demands might be satisfied by neat cattle and other articles particularly enumerated, at an appraisement of impartial men under oath. This act was obnoxious both to constitutional and equitable objections ; but the necessity of the case overruled them all in the opinion of a majority in the government. The operation of the act was not altogether coincident with the ideas of its patrons. Its chief effect was to suspend lawsuits, which, by delaying, only strengthened and enlarged the evil when the year's existence of the law expired. But there was a circumstance which sprung out of this measure, infinitely more detrimental than any burden that it was intended to remove. It was the first signal for hostilities between creditors and