Fowle's New Hampshire Gazette And General Advertiser

For the NEW-HAMPSHIRE GAZETTE.

Messieurs Printers,

R. Observer's remarks in your paper of the 10th inst. in answer to my observations, are similar to his first address. He has twice conceived, but has not as yet brought forth even a mouse. He may be prudent in avoiding another similar conception; for frequent conceptions and abortions are very trying to a weakly constitution. I never once presumed he would attempt a rational answer to my observations; for though they were delivered in a simplicity of language, yet they are truths evident to common sense, and cannot be in danger from any attacks of error. Yet he pretends he can easily confute them. But if so, I dare engage he would have attempted it, as he is a great admirer of paper money: and doubtless he would have strained his genius a little, to save his own purse from consumption, and his injured fellow-subjects from ruin.

But doubtless he would endeavor to calm my fears in this exertion of genius, by informing me that I am out of the reach of injury from a paper currency, since I live (as he observed) on the smiles of the great.

It is verily a pleasing idea to be above the reach of injury, on account of such exalted connections.

But yet, he presumes he has wounded me in a tender part.

He has discovered my fears. I am sure,

I must be ungrateful to the gentleman, not to acknowledge his kindness in endeavouring to convince me I was not in much danger of injury, from a paper medium since my errors lead me to a different conception. It must be benevolent to endeavor to remove the bad influence of an error. Thus far his intentions might not be criminal. But yet, this logician supposes I am considerably interested in state securities, tho' I should not suffer much by paper money being made a lawful tender; and yet he supposes, that its being so, would injure very much the credit of these securities:--and according to this kind of logic, I might lose by the depreciation of said securities, but yet not be injured. Such kind of reasoning as this, has rendered him so famous in financiering. He must be in his own opinion a man of influence: his reasoning must be as irresistible as lightning.

He observes he has sounded an alarm to the whole posse of engroers and speculators; they are roused; they see the storm gathering; Boanerges hath said, and it must be done. Our all is lost! we will attempt however an answer. There is a power above the Giant's arm; a power which will rule we trust in righteousness. It is not in the power of justice to depreciate by law our state securities. Justice will doubtless be done in their fully adequate payment. Otherwise the end of Government is reversed, and our public credit will not be worth a cipher. And although I can assert upon the honor of a man, that I do not own or possess the value of one shilling in state securities, and that I am not speculating in these matters either for myself or others, yet I would plead for the adequate payment of them, even though it should extremely injure my private interest, for a violation of public faith by depreciating them by law, must be too intolerable for an honest man and a friend to the happiness of a nation, ever to contemplate with any kind of satisfaction. We may easily discover our scribbler's motives. He is endeavouring to fill the minds of the people with prejudices, even contrary to all truth and reason. He endeavours to convince them that I am an engroer and speculator; therefore I am moved to write, wholly from self interest, to prevent loss by state securities. But herein every person, may see how ridiculous he renders himself; for I do not own or possess any sum at all in public securities of any kind: So that I cannot be an engroer of them; neither am I a speculator in them, nor does any man know me to be a speculator; nor does our scribbler; nor could he really think I was so; -But he asserts matters to be facts without evidence, which is common for him. And indeed his blacking insinuations respecting my being an engroer, and living on the smiles of the great, acting or writing for a certain class or part of the community as a subordinate, and the like, are absolute falsehoods, fabricated to give weight to his nonsense, and to supply the place of reason and argument, of which he is destitute. When the moral sense is dead, it is not in the power of truth to awaken the sensibility of conscience. It is trifling to add any thing further on this subject of state securities being by law reduced, as it is impossible for our legislature to do otherwise, than to discharge them, by a fully adequate payment; for by our civil constitution, no law that is retrospective can operate in judgment, or disannul, alter or abate a past contract: And our declaimer pretends he did not intend, or mean, that paper money should, by a tender operate in payment of past engagements. This is simi-