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Sign up freeFowle's New Hampshire Gazette And General Advertiser
Portsmouth, Rockingham County, New Hampshire
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An anonymous editorial urges New-Hampshire freemen to demand paper money from their legislature to alleviate economic distress caused by scarcity of hard currency and exploitation by the wealthy. It praises President Sullivan's readiness to help and contrasts NH's situation with prosperous neighboring states that issued paper currency.
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How long can ye bear the yoke of oppression!
In the conclusion of his Excellency President SULLIVAN's judicious speech to the hon. Senate and House of Representatives, he discovers his readiness to relieve the distresses of his fellow citizens--I am pleased to see it acknowledged by so great a man, that he thinks the people are distressed, because there are among us, those, who say, it's all ideal, that there is as much silver and gold in this state as ever there was, and that if any good bargains appear'd of any kind, as cheap as may be thought deserving their notice, "money would soon be produced, that the produce of the country bore too high a price, and that all the imported articles are sold cheaper than ever was known, and that the tradesmen demand more for their labour, and live higher and more beyond their incomes than ever, and that there were state notes, certificates and final settlements in currency sufficient for a medium, and that there was nothing a man had, who was willing to pay his debts, but what the law allowed to be a tender.--
Then whence arises all these imaginary distresses of the people? They further say they arise from faction and discontent, from men of no property, and deeply involved in debt, who want paper money to be made, that they may pay their creditors at a great depreciation, and thereby fraudulently wrong and injure honest men, orphans and widows, who reprobate such wicked designs and loudly bear their testimonies against them;
high charges these! And which being artfully insinuated, and sophistically urged by rhetorical flourishes, fluency of language, well turned periods and elegance of diction, have blinded the eyes and clouded the understandings of well meaning men, who would be as ready as our worthy President, to relieve from the iron hand of oppression, the distresses of the people. But from what quarter does all these violent charges come?
why, from the immaculate oppressors themselves, and their friends, agents, solicitors or attorneys, from the very men, who wish to have all these good bargains themselves. who make this artificial dearth (as they term it) of silver and gold, on purpose to promote them, that the poor and necessitous may become their tenants and vassals, hewers of their wood and drawers of their water. instead of their fellow citizens. and men equal to themselves on every account; they wish to see the farmer also reduced, those respectable supporters of the late glorious revolution, whose estates have borne the expenses of the late war, and whose children have taken the field in defence of their country, while these dastard sons of oppression have shrunk from the danger, like parchment before the fire, and many of them rather wished success to our enemies than otherwise. They hope to see the produce of our lands sold for little more than will pay the taxes on them, and that the sweat of the industrious farmer's brow may still drop, while they may revel and riot in high life, pomp and vanity, and forget their former insignificancy; in their opinions the tradesmen are not made of the same clay with themselves, and perhaps not formed by the same hand; they would deny them the common blessings of life, those very blessings which the God of nature prepared for their use, and if their wives and daughters wear a gaudy ribband, or a flimsy cap of gauze which perhaps they have taken thro' necessity, it is construed into mimicry, luxury and extravagance, which is so insupportable to their vanity, that the very sight of such little innocent and trifling ornaments of innate pride, offends and disgusts them to the highest degree, but take a view of the domestic wants of the tradesmen, and you will there see them too glaring to be denied, and too pinching to be long borne. Taxes and want of business in their several occupations are the principal topics of their conversation, and when they see some men so far exalted above the, (especially in their own circuits) who were once in as depressed circumstances as themselves, it naturally begets despondency, jealousy and moroseness.
What though imported articles are as cheap or cheaper than ever? None but those who can get silver and gold can have them so cheap, every one else pays extravagantly; and as to the facilities now among us, of what advantage are they for a currency? Is any person obliged to receive them for his debts? No, and it is a happy circumstance that they are not, as it was fondly imagined by the rich possessors of them (who had bought them up at 75 per cent discount) would be the case very soon, and who alone have the benefit of the interest of them, and had they thus appreciated in their hands, would have obliged the original creditors of government (who had been necessitated to part with them at so great a loss) to have contributed to their redemption; but in this, oppressors think there is no fraud, no injustice, no injury, all is right which they do, or wish to do; and had government made these engrossed securities tenders for debts, all would have ended well, right and equitable, without reprobation, argumentation, or opposition from them or their agents.-But now see the rub, the gall of bitterness which so rouses these enraged men, there are perhaps (if it could be impartially known) three quarters at least, and more likely seven eighths of the people so factious and discontented as to wish paper money on loan may be made by government, to give a spring to commerce and agriculture, to enable men to pay their debts to those who would most willingly receive it from them, instead of desiring to injure the orphan or widow, they offer their estates for its support, and if the government have not energy to exact obedience to its laws, against the daring depreciators of it, we must be in a truly pitiable case, but let an act of outlawry against such men be made, and enforce it, then see its effect--extreme disorders require extreme medicines as their remedies.
Paper money, or even leather buttons, when stamped by authority, and funded with realities, will answer for internal commerce as well as silver and gold, which history informs has depreciated in England equal to old Continental money before its dissolution.
The legislatures of those very opulent states of North Carolina, South Carolina, Virginia, Pennsylvania, New-Jersey, New-York and Rhode-Island, have absolutely made a paper currency, and the people in the state of Delaware are now violently calling on their legislature to do the same. Can there be any thing so wicked, so villainous, so treacherous, and so destructive to the rights of mankind as the wisdom of these legislatures, in relieving their fellow citizens from the galling chains of oppression, will they not thereby promote levelism, and bring the proud oppressors to own that they are but mere men? It must be owned that there were opposers in each state against the measure; but they happened to be rich men, who wanted to take every advantage of the good bargains, to bring their money out of their hoards, & to increase the number of their poor dependants, and is there any harm in that?
No, it is a common usage amongst the rich, that they may insure respect, and become the golden calves that the people should fall before and worship instead of a benevolent being, who would supply all our wants with a bounteous and never ceasing hand. if these idols would suffer the people to enjoy them in peace, liberty and safety, the objects of their dear bought independency.
What a melancholy sight is it? that so many honest, worthy industrious men, throughout seven states are now blessed with harmony, plenty and happiness, and their minds quieted from the fears of want, now they can go to market with a penny in their pockets, their benevolent friends the farmers meet them half way with cheerfulness. and are as ready to receive it as they to offer; now one greets the other with social benedictions, trade flourishes, agriculture increases, mutual confidence is restored, and harmony reigns triumphant—but shall I repeat it? What a melancholy sight is this? To the rich—now their hoards avail them not, they see gentlemen upon a level with themselves; no longer are they upon the catch for good bargains; others can now eat and drink without their sanction, and the late despondents now meet their families with conjugal and parental affection, while they in return solace the fond partner of their love-Elysian fields these! when contrasted with the bondage of the inhabitants of New-Hampshire, for in the midst of life they are in death, death of the worst kind, want, penury and the common blessings of providence; to the auspicious administration of a SULLIVAN, the people look for relief, he is ready to interest himself in your calls, make but your wants known, and he will be your Apollo.--He is now sacrificing his private interest to your suffrages, and his beginnings must insure you the completion of your wishes. If you would wish the like blessings of seven, and perhaps now eight states in the union, who have made paper money on loan, summon resolution to speak your minds, and be no longer kept in a state of insensibility to your own sufferings, while your relief is so near at hand, and the artifices of impostures who have derided your convention may be brought to shame and confusion of face; you will silence your enemies and confound their devices:
It is to the real properties of the state you must look for relief, and if you express your minds by your numbers in peaceable town meetings, and if instructions are not obeyed, nor your modest petitions heard, your firm remonstrances will be finally received, and must prevail.
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Editorial Details
Primary Topic
Advocacy For Paper Money To Relieve Economic Distress In New Hampshire
Stance / Tone
Strongly Pro Paper Currency And Anti Rich Oppressors
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