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Richmond, Williamsburg, Richmond County, Virginia
What is this article about?
In Williamsburg, VA, July 14-16, 1779, citizens held town meetings to combat paper currency depreciation and high prices amid Revolutionary War. Adopted resolutions regulating goods prices (e.g., L50 per L1 sterling), formed inspection committee, and pledged support to avert economic ruin from monopolies.
Merged-components note: Continuation of the Williamsburg town meeting report across pages 1 and 2, focusing on regulating prices due to currency depreciation. The tables on page 2 provide the specific wholesale and retail price lists directly referenced in the resolutions and text.
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Wednesday, July 14, 1779.
VERY attentive to the interests of their country, jealously concerned for its welfare, and justly alarmed at the critical situation in which America stands, some publick spirited inhabitants of this city, having maturely considered the premises, are of opinion, that from the present alarming depreciated state of our paper currencies, the exorbitant prices of all the articles and necessaries of life, imported or manufactured, and the dangerous practices of monopolizers, forestallers, and engrosers, consequent and inevitable ruin will ensue, unless by the timely and spirited exertions of the independent and patriotick friends to their country, a speedy and effectual remedy is applied to these great and growing evils; and have therefore determined to call for and collect the general sense and opinion of those respectable citizens and freemen of this corporation who feel themselves actuated by the same laudable motives, in a town-meeting, to be held at the town courthouse to-morrow, 10 o'clock.
To such MEETING, when convened, the following propositions are respectfully submitted for their consideration and opinion.
1st. THAT the prices of all imported goods now for sale in this city, be regulated at certain fixed and stated rates, by a committee to be appointed for that purpose, who shall report to a future meeting.
2d. That the prices of provision, country produce and manufacture, brought to, and vended in this city, be also regulated in a similar manner, and in due proportion to imported goods, by another committee to be appointed for that purpose, subject to the opinion of a future meeting.
3d. That a committee be appointed to take proper measures to prevent the removal of goods from this city, by any person or in any manner whatever.
4th. That the committees so appointed, be instructed not to interfere with any contract for goods in this city, made by legal authority on the publick behalf.
5th. That the committees before mentioned, be instructed to prepare a suitable address to the counties and corporations of this commonwealth, reciting the reasons which have induced this meeting, stating the measures adopted, and inviting and advising them to adopt similar regulations; observing upon the happy effects experienced by a sister state from such a conduct.
6th. When proper and advisable measures are adopted here, that an association for adhering to and maintaining them be prepared, and a committee appointed on behalf of the city to enforce a due observation thereof.
7th. That to prevent the censures of ill designing men, and defeat any suspicions of an intended insult to the civil authority, this meeting be conducted with all possible decorum and moderation; that it be considered as the full and respectable meeting of the citizens and inhabitants of this corporation, and as contradistinguished from the tumultuous proceedings of a mob; that every measure adopted here, be decisively, determinedly, and effectually executed.
In consequence of the foregoing, a GENERAL TOWN MEETING of the CITIZENS and INHABITANTS of WILLIAMSBURG, convened at the town courthouse, on Thursday the 15th of July, 1779.
The Reverend Robert Andrews was unanimously elected chairman, and Mr. John Beckley clerk.
The Chairman opened the meeting by informing his fellow citizens, that at the instance of several respectable inhabitants, they had been thus called together to deliberate generally upon the situation of publick affairs, but particularly to consult what will be the probable means of appreciating our paper currencies, of aiding the publick credit, and of averting the evils at present experienced; and also to adopt proper measures for attaining these salutary purposes: And he presented to the meeting a paper containing certain propositions on this subject, which was twice read, and is the same that precedes this journal.
Resolved, that the present alarming depreciation of our paper currency and the exorbitant prices not only of imported goods, but of labour and all the necessaries of life, are in a great measure owing to the dangerous practices of monopolizers, forestallers, and engrosers, and to the avarice and extortion of individuals, that consequent and inevitable ruin will ensue, unless by the timely and spirited exertions of the independent and patriotick friends to their country, some speedy and effectual remedy be applied.
Resolved therefore, that a committee of five persons be forthwith appointed, and that they or any three of them be authorized to take the premises under their consideration, to prepare and draw up a proper address to the good people of this commonwealth upon the subject, and to form and digest the most effectual methods of redress, and that they report their proceedings therein to a town-meeting, to be held to-morrow at 10 o'clock in the forenoon, for that purpose.
Resolved also, that the said committee be empowered and required immediately to take proper measures to prevent the removal of goods from this city, and the adjacent parts, by any person, or in any manner whatever, until the farther directions of the town-meeting therein.
And a committee was accordingly appointed for the several purposes before mentioned; and Col. Innes, Mr. Henry Tazewell, Mr. Samuel Beall, Mr. John May, and Mr. Champion Travis, were nominated the said committee, who are to report to the town-meeting to-morrow.
And then the meeting adjourned till to-morrow morning, 10 o'clock.
FRIDAY, July 16, 1779.
8 of yesterday.
The committee appointed, presented according to order, the draught of an address to the publick, together with sundry resolutions on the subject matter referred to their consideration yesterday, and the said address being twice read and debated, was unanimously agreed to, as followeth:
To the CITIZENS and INHABITANTS of WILLIAMSBURG, to the FREEMEN of the COMMONWEALTH of VIRGINIA.
Friends and Countrymen,
WHEN the American states first united in defence of their liberty against the arbitrary encroachments of Great Britain, difficulties lay before them, which to the cool eye of reason appeared almost insuperable. Unprepared for war, they had not only a very powerful and well appointed enemy to contend with in the field, but they had also traitors nursed in the bosom of their own country, to combat at home. They had the vigorous attacks of an open enemy to repel, and the dark and more dangerous machinations of a secret foe to guard against. They had even their own passions and attachments to encounter, passions by long use wedded to all the luxuries of life, and attachments to that people against whom they were to bear arms, coeval with their infancy.
To conquer these adversaries was in a manner to conquer human nature itself. Desperate however as the attempt was, fruitless as it generally proves, Americans prizing liberty with an holy zeal, dared the trial and found an easy victory. It can never be forgotten with what cheerful alacrity, a people, who had long indulged in the lap of ease and pleasure, resigned this envied state to embrace the toils, the dangers, and all the chances of war, when called upon by the sacred voice of their country.
Four years have now elapsed since the sword was drawn, and in that period we have seen every effort of the enemy baffled, which the lust of dominion, pride, cruelty, and treachery could dictate. Heaven has strengthened our arm, and raised us up such friends, that American freedom is fixed on a basis, which the power of Britain cannot shake.
These proud oppressors have parted with the idea of conquest by force; their expectations of success are kept alive only by the hope of some event among ourselves, which may favour their wishes. Their great dependence is on the depreciation of our paper currency, and this is indeed the enemy from which at present we have most to dread; an expedient, necessary for our great purpose, has become, from perhaps too little attention to consequences at an early period, but chiefly from the artifices of some designing, disaffected men, and the avarice of others, an evil of a most alarming nature. Very wise and vigorous measures have been framed by Congress and the legislatures of the different states to stop its progress, and by degrees to eradicate it; but the same means which first produced this evil are still exerted to counteract these good effects: And so successful have our enemies been in this their last resource, that the ordinary methods of opposition can no longer serve our purpose. So greatly are the prices of imported goods and of country produce advanced above what either the difficulty of obtaining them, their scarcity, or the quantity of money in circulation would occasion, that the publick expenses cannot be supported. This alarming prospect impels us to call upon the virtue, upon the true interest of our countrymen, to make one great effort and crush that spirit of extortion, which hatched in the obscure corners, among the selfish, the disaffected, the most despicable of human creatures, has spread like a lowborn mist through the land, and blotted the fair character of this country. Shall the insidious arts of miscreants, afraid to appear what they really are, shall the sordid views of men who regard nothing but themselves, rob us of a prize, which the valour of our countrymen has gained in the field? Gratitude, reputation, our tenderest connections, the welfare of our country, our hopes of the approbation of heaven, all forbid it. The virtue of the people at large can easily redress what the laws cannot reach. Let us begin with reducing by easy steps the prices of our own commodities, and then it will be equitable to reduce proportionably those of goods imported. This will save our country, and every good man will find his particular account in it. The honest merchant will still reap the profit he wishes for, the honest planter and farmer will receive as valuable returns for their produce as heretofore, the publick designs will be assisted and promoted, future taxes will be avoided, and none but the selfish and the wretches who aim at the ruin of our country will be disappointed. Situated as we are in the scene of publick transactions, and witnesses of the enormous expenses of government in the support of our necessary military establishments, we are perhaps more sensible of the ruinous tendency of those evils we call upon you to remedy. Common Sense and the successful experience of some other states have suggested to us a method of opposing them, but your concurrence is absolutely necessary to give to the measures we have adopted an extensive efficacy.
The meeting then proceeded to consider the several resolutions reported by the committee, which being twice read, debated, and amended, were unanimously agreed to, as followeth:
Resolved, as the opinion of this committee, that the probable means of appreciating our paper currency, of aiding the publick credit, and averting the evils complained of, will be by regulating monthly upon equal principles the selling rates of all imported goods, country produce and manufactures.
| Wholesale. | Retail. |
| Molaffes, per gallon, £.40 to £.410 | 10 |
| Brown Sugar, per lb. -16 | 10 |
| Coffee, per lb. 15 | 18 |
| Bohea Tea, do. 210 | 30 |
| Common Green, do. 160 | 120 |
| Beft Hyfon, do. 150 | 180 |
| Weft India.Rum, pr.gal. 80 | 90 |
| French Rum, per do. 510 | 610 |
| Loaf Sugar, per lb. 25 | 210 |
| Lump do per do. 14 | 110 |
| Black Pepper, per do. 116 | 22 |
| Hard Soap, per do. 12 | |
| Bar Iron, per tun. 800 o pr. lb. 8 | |
| Raw Hides, per pound. 5 | |
| Raw Calf Skins, 30 | |
| Sole and harnefs Leather, pr. pound. x 5 | |
| Neets do. by the fide. 90 | |
| Drefled Calf Skins that 7 | |
| will cut four pair of Shoes. 90 | |
| Boots. - 300 |
| Tobacco, per et. 15 | 00 |
| Wheat, per bufh. | 5 |
| Flour, per et. | 15 |
| Seconds, per do. | 10 |
| Bran, per bufhel. | 1 |
| Corn, per do. | 4 |
| Oats, per bufhel. | 2 |
| Barley, per do. | 3 |
| Rye, per do. | 4 |
| Beef, per pound. | 5 |
| Mutton, per do. | 6 |
| Lamb, per quarter. | 1 |
| Veal, per do. | 3 |
| Butter, per pound. | 12 |
| Candles, per do. | 15 |
| Bacon, per do. | 10 |
| Allum Salt, bufh. | 15 |
| French & country do | 10 |
| Mens beft Shoes, | 9 |
| Womens leather do | 7 |
| Womens calimanco | 8 |
| Half cord of Wood | 4 |
Therefore resolved, that the prices of goods and provisions ought for the present month, to be regulated at the following Rates:
Dry goods at the rate of L. 50 currency for £1 sterling cost, the genuine invoice of which shall be produced to the committee when required, and proved to be such, and on failure thereof, the committee shall prize the goods at such rates as in their opinions they could have been purchased at in Europe.
Resolved, that all other articles whether imported or of the country produce, ought to be vended at proportionate rates to the above, and that the good people of this town be desired to pay attention to the same.
Resolved, that the several acts of Assembly against forestalling, regrating, ingrossing, and publick vendues, ought to be enforced with the utmost rigour, and that it is the duty of every good citizen, to make diligent enquiry after and give information of all such as shall hereafter offend against those laws, to the committee of inspection and observation, who shall prosecute such offenders according to law.
Resolved, that a committee of fifteen freeholders be chosen by the inhabitants of the city, who shall be called a committee of inspection and observation the majority of whom shall have power to act. The duty of which committee shall be to inspect the conduct of the inhabitants of this city, and enforce obedience to such resolutions as from time to time shall be agreed on by the general town-meeting; and that the said committee be directed to appoint such of their members as they shall think proper to correspond with any committee, or committees that are already, or shall hereafter be appointed within this commonwealth, or any of the United States, on the subject matter of these resolutions.
Resolved, that all persons who shall violate these resolutions or any of them, shall be held up to the publick as inimical to the rights and liberties of America.
Whereas under pretence of supplying our fellow citizens in the country, great quantities of goods very probably will be moved from this city in consequence of the foregoing resolutions.
Resolved therefore, that if any goods exceeding the value of 50l. shall be removed or attempted to be removed without the limits of this city, the owner or carrier not having first obtained a permit from the Chairman of the committee, except the cargo belonging to Capt. Hunter and company. Such goods so removed or attempted to be removed, shall on discovery, be detained under the care of the committee until the next town-meeting, and the owner to abide the consequences.
Resolved, that all persons who shall ask or demand, offer, or give more for any goods or provision than the prices aforesaid, shall be considered as an offender against these resolutions and dealt with accordingly.
Many other regulations may from time to time become necessary which cannot now be adopted or do not occur, but as the town-meetings will be frequent, all other measures that shall appear likely to produce the happy effects wished for will be agreed on. And we the citizens of this town who have hereunto subscribed our names, do hereby pledge our Honour to support the said committee in the execution of the foregoing resolutions, and all others that may be agreed on by the general town-meeting.
The meeting then proceeded by ballot, to the election of fifteen persons to be a committee of inspection and observation for this city pursuant to the foregoing resolutions, and the persons appointed to examine the ballots, having reported the majority to be in favour of Samuel Beall, James Innes, James Southall, Humphrey Harwood, Henry Tazewell, Samuel Griffin, Robert Anderson, John Minson Galt, Benjamin Powell, Champion Travis, the Reverend Robert Andrews, John Dixon, Edward Archer, James M'Clurg, and John Boush, Gentlemen.
Resolved, that they be appointed of the said committee.
Resolved, that the Chairman of the committee of inspection and observation be authorised and empowered to convene a general town-meeting whenever he shall judge it expedient and advisable, so to do.
And then the meeting adjourned till the first Monday in next month.
Signed by order and on behalf of the meeting,
ROBERT ANDREWS, Chairman.
Attest.
John Beckley, Clerk.
The principles on which the town-meeting fixed the retail price of imported goods at fifty for one, were the following: The present disadvantages under which trade labours, require that about 200 per cent. be laid on the sterling cost, to give the importer and retailer a living profit. Suppose then a yard of linen to cost three shillings sterling; at 200 per cent. it will amount to nine shillings, which multiplied by 50, which is as low as the average of the advance of country produce, will produce 150 shillings or fifty for one. Tobacco has been rated lower than most other things, because in general it has not as yet exceeded 50l. per hundred. It is expected however in the course of a month or two, that all other things will be reduced to this standard, and that afterwards every article will be reduced in proportion to its ancient value.
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Domestic News Details
Primary Location
Williamsburg
Event Date
July 14 16, 1779
Key Persons
Outcome
adoption of resolutions to regulate prices of imported goods, country produce, and manufactures; formation of a committee of inspection and observation; pledge by citizens to support the measures; prices fixed at rates such as l.50 currency for l.1 sterling cost for dry goods, with specific wholesale and retail prices for various items listed.
Event Details
Public-spirited inhabitants called a town meeting on July 15, 1779, at the courthouse to address depreciation of paper currency, exorbitant prices, and practices of monopolizers. Propositions submitted for regulating prices, preventing removal of goods, and forming committees. Meeting elected chairman Robert Andrews and clerk John Beckley. Resolved to appoint a committee to draft an address and prevent goods removal. On July 16, committee reported an address to citizens of Virginia urging regulation of prices and suppression of extortion. Resolutions adopted to fix monthly prices on equal principles, enforce laws against forestalling, establish a 15-member committee of inspection, and penalize violators. Committee elected by ballot. Meeting adjourned to first Monday next month.