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The New Hampshire Gazette And Historical Chronicle
Portsmouth, Greenland, Rockingham County, New Hampshire
What is this article about?
Philadelphia reports extract of a May 27, 1767, letter from London detailing merchants' advocacy for repealing a 1764 British act on colonial paper money to relieve commerce distress, with conditions to protect British debts, amid ministry changes.
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Extract of a Letter from London May 27, 1767.
"ENCLOSED I send you a Copy of the Merchants Report on the subject of Paper Money, obtained after many Meetings and delivered to the Ministry: But there are great Difficulties, the B-d of T-de being extremely averse to the Repeal of the Act, and yet I hope we shall get over all, the Ministry being at length prevailed on to espouse the Measure, That the Colonies may have something to give on a Requisition from the Crown, and that the Duties may increase by the increase of Commerce.--But it is strongly reported that the present Ministry will be soon changed; if so, all our Labour will be rendered fruitless."
The Merchants of LONDON, Trading to the Continent of America, are of Opinion;
That the most speedy and effectual Relief to the Colonies, in respect to the present distressed State of their Commerce, for Want of a Medium of Trade will be the Repeal of an Act of Parliament respecting Bills of Credit in America, passed in the 4th Year of his present Majesty; and that such Repeal cannot hurt the British Merchants provided a Clause be inserted in the Act for the said Repeal, declaring Paper Bills of Credit shall not be a legal Tender in Payment of any Sterling Debts or Contracts whatsoever, already made or to be made by or with or in the Name and Behalf of any Person residing in the Kingdom of Great-Britain.
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Where did it happen?
Domestic News Details
Primary Location
London
Event Date
May 27, 1767
Event Details
Extract of letter from London enclosing copy of merchants' report to ministry advocating repeal of 1764 act on bills of credit in America for colonial commerce relief, with clause protecting British sterling debts; difficulties with Board of Trade but hope ministry supports for colonial contributions and increased duties; rumors of ministry change could nullify efforts. Merchants of London trading to America opine repeal as speedy relief without harming British interests if clause inserted.