The New Hampshire Gazette And Historical Chronicle

Si quid novisti rectius istis, candide imparte
Si non, his utere mecum.

It is the incumbent Duty of every Individual of the Community, to recommend Ways and Means to assist us at this Time in discharging the Public Debt-- There is none seems more equitable and acceptable to almost every one than an Interest arising from Money emitted upon Loan, on the Mortgages of the Real Estates in the Government ; Such a Fund operates as a Land Tax with only this Difference, that a Tax is an Imposition, but the Solliciting of Money on Loan, is a voluntary Act ; I remember to have seen the Sentiments of some Writer in a former News-Paper upon the Subject of Loan Money, which tho' I then much approved of, yet I thought it would be difficult to introduce a Paper Currency as the Crown must have had a Voice in the same; but as that Obstacle is now obviated and removed by an universal Circulation of all the Colonies Monies, I am convinced, this Government cannot possibly adopt any Plan so safe, and beneficial; than immediately to emit a Sum not exceeding £100,000 L. Mon. upon Mortgage of the real Estates of the Borrowers, at 6 per Cent Interest, redeemable in 10 Years, at a Valuation upon Oath taken at the Expence of the Borrower, at half the Appraisement thereof--All the present circulating Currency is received upon the Faith and Honour of the respective Colonies, how much more secure must that Money be which has not only the same Credit, but the Estates of the Individuals in Security for it's Redemption ? and it is tho't by many, that more than £200,000 would be taken up immediately, which will yield to the Colony £12,000 annually, to be appropriated to the sinking our Proportion of the Continental Debt; and as an Encouragement to Borrowers, all such Estates which they so mortgage, shall be exempted from other Colony Taxation. No One Borrower to have more than £1000. & none less than £25. and no unimproved Lands to be received in, without Security, that the Money borrowed, shall be laid out in improving the same by Settlement & Clearing. To prevent a Monopoly of this Money, any other Currencys shall be received in Redemption of the Mortgages, 12 pr. Cent to be deducted out of the Money borrowed ; which Shall be accounted as 2 Years Interest of the Mortgages ; this to remain in the Hands of the Trustees, to enable them to procure continental Money to pay in our annual Proportion, any Borrower to have the Priviledge of paying in the Whole of the Principal at any Time after 5 Years ;---An Office to be opened in some Town in each County, two Trustees to be appointed in each County, who are to be under Oath for Fidelity, and under Bonds for Security, and to receive £20 pr. Annum each for their Services, with other Regulations necessary to be done : This Loan Money will enable many Persons to procure Subsistence, who otherwise must suffer. The Colony of Rhode Island have such Offices for Personal Security; we surely then can do better, when we have real Security for its Redemption.

There can be no Plan invented that is more agreeable to the Colony in general than this, by which a very large Revenue will be raised, and ease the People greatly in their Taxes. It is generally believed, that the whole Money will be taken up in two Months. It therefore is of the greatest Consequence that it should be immediately made.

REPUBLICAE AMICUS.