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Domestic News July 22, 1789

Gazette Of The United States

New York, New York County, New York

What is this article about?

A correspondent highlights the distress caused by the sudden halt in copper coin circulation, severely impacting the poor who relied on it, leading to closed shops, suspended street cries, and difficulty purchasing essentials like bread and vegetables. Merchants and shopkeepers hold large amounts and face losses.

Clipping

OCR Quality

98% Excellent

Full Text

A correspondent observes that the confusion, and consequent distress occasioned by the sudden stoppage to the circulation of the copper coin, are subjects that call for the immediate attention of authority: The poorer class of citizens are peculiarly affected by this circumstance, many of whom had their little all invested in this most uncertain of all human possessions, a fluctuating medium: Many of the retail shops are shut: The cries are suspended in the streets, and it is with difficulty the poor can purchase bread of the bakers, or vegetables in the market: This evil has been long foreseen, and yet the base trumpery called coppers (greatly inferior to Woods' infamous brass money) has been pouring in upon us like a flood for many months past; Many of the merchants and shop keepers, it is said, have large sums by them of this coin, by which they will be great sufferers.

What sub-type of article is it?

Economic

What keywords are associated?

Copper Coin Circulation Stoppage Economic Distress Poor Citizens Shop Closures Currency Flood

Domestic News Details

Outcome

distress to poorer citizens, closure of retail shops, difficulty purchasing bread and vegetables, anticipated losses for merchants and shopkeepers holding large sums of copper coin.

Event Details

Sudden stoppage of copper coin circulation causes confusion and distress, particularly affecting the poor who invested their savings in it; retail shops shut, street cries suspended, bakers and markets hard to access; issue foreseen but coppers continued to flood in for months, inferior to Woods' brass money.

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