21 emission of paper money, and it is not uncharitable to suppose, that many others
were induced to patronize it from principles less excusable. A majority of individuals
in every community must, in one sense, be benefited, by a depreciating currency.
It puts the publick burden upon principles of chance, and finally settles it
upon the unfortunate adventurers, in whose hands the bills happen to expire.
Hazard, when offered to the human mind, seldom leaves it uninterested, and from
this motive, many will engage on the side of a paper medium. Creditors indeed,
and men of property will be averse from raising a phantom, that, in the exchanges
of business, may take place of their real wealth ; and the widow and orphan
must shudder at the unavoidable snares of knavish men, to defraud them of their
rights : But these classes of people will ever be opposed by debtors, speculators,
and persons otherwise interested against them, and unless supported by the justice
and humanity of the people, will be soon overcome. To whatever motives the desire
of a paper currency may be attributed, certain it is, that propositions were
very strenuously made to the legislature for this purpose from several towns,
and upon principles never, perhaps, before, advanced. It was requested that
an adequate quantity of this money might be emitted ; and, to |
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