Maffachusetts-Bay, as they have at prefent no province bills out upon loan for terms of years, have previoufly fettled their currency by act of affembly, approved of by the KING in council; it is intitled, An act for drawing in the bills of credit of the feveral denominations, which have at any time been issued by this government, and are still outstanding; and for afcertaining the rate of coined filver in this province for the future. By this act it is provided that the treasurer fhall be impowered to receive the reimbursement money to be exchanged after the 31st of March 1750, at the rate of 45 s. old tenor for a piece of eight; and one year more is allowed for exchanging faid bills-After 31ft of March 1750, all debts and contracts fhall be payable in coined filver only, a piece of eight at 6 s. one ounce of filver at 6 s. 8, as alfo all executions with fuch addition according to the time of contracting, as the laws of the pro

When there was an immediate publick emergency for raifing of money, borrowing of publick bills, already emitted, from the poffeffors, would not have increased a paper currency, but prevented depreciations; fome merchants and others offered to lend thefe bills at a fmall intereft, fome gentlemen faid, that they had better let them without intereft than that their perfonal eftates from multiplied emiffions, fhould depreciate at a much greater rate than after the value of an accruing intereft: but this would have effectually defeated the scheme of the depreciators the fraudulent debtors, therefore the propofal or expedient was rejected by the advice of

For paper currencies, fee vol. I. p. 310, 314, 308, 493.

This reimbursement money arrived at Bofton Sept 18, 1749, in a man of war frigate, confifting of 215 chefts, (3000 pieces of eight at a medium per cheft) of milled pieces of eight, and 100 cafks of coined copper. Connecticut, a government of fagacious hufbandmen, seems to have acted more prudently than Massachusetts-Bay; by their affembly act, Oct. 1749, they allow three years (to prevent a fudden confufion) to cancel their bills gradually; and in their reimbursement money to fave the charges of commiffions, freight, infurance, and other petty charges, they are to draw upon their receiving agent, and these bills will readily purchase filver for a currency.

This is not in proportion, a milled piece of eight is 7 eighths of an ounce, and at 6 s. per piece is 6 s. 10. one 3d of a penny better per ounce.

vince do or fhall require; the feveral acts of affembly whereby fome funds of taxes, for cancelling province bills of credit, have been poftponed gradually to 1760 are repealed, and the tax of 1749, toward cancelling these bills fhall be three hundred thousand pound old tenor. Penalty to those who receive or pay filver at any higher rate, fifty pound for every offence; and after 31ft of March 1750, the penalty for paffing any bills of Connecticut, New-Hampshire or Rhode-Ifland, fhall be fifty pound for every offence; and from thence to March 31 1754, all perfons entering into any town affairs, conftables, reprefentatives, councellors, all officers civil and military, plaintiffs in recovering of executions, tavernkeepers, and retailers of ftrong drink, fhall, make oath that they have not been concerned in receiving or paying away any fuch bills.

As the exportation of fterling coin from Great-Britain is prohibited by act of parliament, Spanish pieces of eight are reckoned the plantation currency, and are esteemed as fuch in the proclamation act fo called, for plantation currencies; but although the British or fterling fpecies could not be a plantation currency, the Spanish coin might have been reduced to their denominations at 4 s. 6 fterl. per piece of eight, and all the colonies reduced to the fame fterling denominations of GreatBritain, which would much facilitate the trade and business of the plantations amongst themselves, and with their mother-country: thus we fee in Portugal a mill-ree, though no fpecie or coin, but only a denomination, is the basis of their currencies; and in the fame manner with the plantations a pound or crown fterling, although no fpecie or coin in the colonies, might have been the general basis of our denomination or currencies.

That is, all delinquents are out-law'd; a very fevere penalty: this may introduce a habit of forfwearing or perjury.

I may be allowed to drop a tear, I mean fome expreffion of grief, over the languishing state of my altera patria, the province of Maffachusetts-Bay, formerly the glory of our plantations; but now reduced to extreme mifery and diftrefs, precipitately brought upon us by the adminiftration of **** and a party of fraudulent debtors. At his acceffion he was lucky to find a flanding irresistible party formed to his mind, and not empty-handed; they effectually depopulated the province by the lofs of many of our most vigorous labouring young men, the only dependance or life of a young plantation; they pecculated the country by ruinous unneceffary expence of moneyOur prefent commander in chief in his firft fpeech to the affembly, Nov. 23, 1749, modeftly expreffes the late pecculation and depopulation of the province; " deliver "this province from the evils and mischiefs (particularly "the injustice aud oppreffions) arifing from the uncertain " and finking value of the paper-medium the cultivation "of our lands and manufactures are greatly impeded by "the fcarcity of labourers." Mr. Sh's own affemblies fometimes complain. June 3, 1748, the council and representatives in 'a joint meffage to the governor, enumerate the "great lofs of inhabitants for husbandry "and other labour, and for the defence of our inland "frontiers; the vast load of debt already contracted, and "the unparallelled growing charges, infupportable difficul"ties!" The house of reprefentatives upon a certain occafion complain, "with publick taxes we are burthened "almost to ruin ;" in their journals 1747, "Should the "whole fum expended in the late expedition be reimburst "us, we have still a greater debt remaining, than ever lay upon any of his majefty's governments in the plan"tations." Mr. had no fympathy with the suffering province, because depreciations of currency, and our unfufferable taxes did not affect him.

66

VOL. II.

C

By

* Depreciations, by his fucceffive affemblies were made more than good in advancing his allowances and other perquifites: he is ex

empted

By the province being depopulated, labour is dear, and all countries can afford to underfell us in produce and manufactures, in confequence our trade is loft: I fhall adduce a few inftances: 1. When Mr. Belcher was fuperfeded 1741, in Boston at one and the fame time were upon the stocks 40 top-fail veffels of about 7,000 tun, all upon contract: at Mr. Sh-going home 1749, only about 2,000 tun on the ftocks, whereof only 4 or 5 fhips upon contract, the others upon the builders account to wait for a market, and to keep their apprentices to work, and to work up their old ftores of timber. 1741, in Marblehead, our chief fishing town, were about 160 fishing fchooners of circiter 50 tun each: 1749 there were only about 60 fishing schooners. 3. For many months lately there were not to be found in Bofton goods (nay not the coarseft of goods, pitch, tar, and turpentine) fufficient to load a middling fhip to Great-Britain; but under the prefent administration and management of affairs our trade and navigation feem to

revive.

2.

empted from taxes by act of affembly. Whereas all perfons of the province not in debt, have loft about one half of their personal estates by depreciations in this fhort adminiftration; and the provincial poll tax of 2 s. 3 d. O. T; this tax is equal to rich and poor, and befides poll tax, there are provincial rates upon eftates and faculties, excife, impoft, tunnage; and befides provincial taxes, there are country and town poll rates, &c. Mr. Belcher, by his wife and honeft management, had brought all our publick debts or paper credit and currency to be cancelled in one year 1741, being 127,000 1. O. T. but Mr. and his party being afraid of lofing hold of this accurfed fraudulent currency, they refolved (the province was at that time in its greatest profperity) that 127,000 1. O. T. was an inconvenient fum to be cancelled in one year, and therefore divided it among three fubfequent years; by this neft egg in a few years they increased the brood to two and a half millions; and the gupon his call home 1749, for certain reasons which may be mentioned, (by the advice of his trufty friends) contrived two years exceffive taxes of 360,000 and 300,000 O. T. to be collected in not much exceeding one year, when the country was depopulated, pecculated, and much reduced in trade and bufinefs: this fudden and quiet reverfe change of fentiment in this party is unaccountable; but quicquid id eft timeo, perhaps they expect confufion; they have practised fishing in troubled

water.

In the feveral SECTIONS OF HISTORIES of the feveral colonies, may generally be found, but not in the fame ftrict order, the following particulars.

1. When the colony was firft difcovered and traded to by any European nation; when first colonized by the English: and what revolutions have happened there from time to time, in property and jurisdiction.

2. Its boundaries, if well afcertained, or if controverted in property or jurisdiction.

3. Wars with the French, Spaniards and Indians. 4. The numbers of whites or freemen, and flaves.

5. The last valuation, that is, the number of polls and value of eftates, taken to adjust the quotas of taxes for the feveral counties, diftricts, towns and parishes.

6. The militia upon the alarum-lift, and how incorporated or regulated.

7. House of representatives, their nature and number: the qualifications of the electors, and of the elected. 8. Courts of judicature.

1. The nature of their juries, and how returned. 2. The jurifdiction of a juftice, and of a bench of juftices, and of their general quarter feffions.

3. Inferior or county courts of common pleas. 4. Superior, fupreme, or provincial courts for appeals. 5. Chancery or courts of equity, if in use.

6. Jufticiary courts of oyer and terminer.

7. Ordinary for probate of wills and granting administration.

8. Courts of vice-admiralty.

9. Jufticiary court of admiralty for crimes committed at fea.

9. The prefent taxes, viz. polls, rates, impost, and excife.

10. Produce, manufactures, trade and navigation.

11. The number of entries and clearances of extraprovincial veffels, diftinguished into fhips, fnows, brigantines, floops, and fchooners.

12. The various fectaries in religious worship.