Fowle's New Hampshire Gazette And General Advertiser

NEW-YORK, May 26.

We hear from New-Jersey, that the assembly of that State, on Monday last, passed an act for emitting the sum of one hundred thousand pounds on loan, and fifty thousand for the purpose of paying a certain part of the interest of the domestic debt.

It is to be hoped that the merchants of this city will follow this laudable example of the Charlestown merchants. Now that the die is cast, and a paper medium is soon to make its appearance amongst us, the only true policy that can be adopted to defeat the schemes of wicked and designing men, who may have it in contemplation to use every artifice in their power to cause it to depreciate, that so they may enrich themselves at the expense of their fellow citizens) is for the merchants of this city immediately to unite, and publish to the world their determination to support the new emission by every means in their power. If this be done it cannot fail to have a happy tendency, as it will at once obviate most of the doubts and objections that have been raised against the issuing a paper medium.

Mar 27. A correspondent observes, that since the legislature have enacted the law for the emission of paper money, it would be decent and politic in the opposers of it, to receive the measure with good grace, and give their sanction to its currency, as a demonstrative proof that the fire and zeal of an injudicious opposition had originated from pure sources and disinterested motives. All discussion and canvas on the policy and expediency of this experiment, being now unnecessary, it is to be expected that every class of citizens will exert the nerve of virtue and public feeling to DEPREDATE in PUBLIC fame any man who will have the effrontery to convert this great and momentous dispensation of our legislature to private and villainous purposes.

It is reported that one remarkable man has erected his front (which they say is not the frontispiece of integrity and wisdom) against this mode of relief so earnestly and so generally solicited. Were this remarkable man (it is repeated, for the epithet was never applied with greater propriety or force) to take a previous hint, for he is well observed, he would meet the landed and commercial interest in their unanimous view to support--to substantiate and so realize the emission into money so far as an universal confidential acceptance of it can authorize the idea. The paper of the Bank of England is of this quality and description.--It is neither fusible nor malleable. But English merchants accepting it as a medium in their commercial intercourse, have communicated to this flimsy paper the properties of gold and silver--they have connected to it such faith and confidence, that its first blush is gold, in whatever part of the globe it makes its appearance. If the first merchants in the world are not admitted as precedents for our imitation, whose example shall we pursue? the resolutions of the merchants of Charlestown solicit and command our admiration, and it is expected that the merchants, manufacturers, and men of property in this city and state will emulate their glorious conduct. The paper emitted in Pennsylvania is current as gold and silver, not only there but in the state of New-Jersey; and the Author of Common Sense has not increased his reputation by his opposition to it, and every day's experience proves that he had not well considered its principles. It is not my purpose to harrow those feelings already suffering under the lash of Atticus. For the merit of one production he deserves from this pen only a gentle admonition, and yet it is matter of surprise and concern, that in this and some other instances he has condescended to convince us, that his genius is not universal.

While on this subject, it would be invidious to withhold applause from one eminent merchant, who, in every stage, to the conclusion opposed the bill. But it no sooner became a law than he appeared in the foremost rank for a general meeting, to enter into a solemn, sacred league and combination to support the credit of the paper-- to attach the public confidence, and to pronounce that man an enemy to the state who should commence the depreciation. This meeting is supposed to take place on Thursday the 1st of June.