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Domestic News
March 20, 1784
The New Hampshire Gazette And General Advertiser
Portsmouth, Exeter, Rockingham County, New Hampshire
What is this article about?
A Boston correspondent explains the cash scarcity in American states as resulting from large remittances to Britain and money from Spanish trade flowing to England in exchange for trivial British manufactures, prompting European sneers at American folly and impending poverty.
Clipping
OCR Quality
98%
Excellent
Full Text
BOSTON. March 18.
The scarcity of cash, says a correspondent, experienced in this and the other States, may in some measure be accounted for by attending to the British publications: in which are mentioned not only large and frequent remittances from our merchants, but of the vast quantities of money continually flowing into that kingdom from our trade with the Spaniards, all the cash we can possibly obtain in this way, being immediately carried to, and left in England, in lieu of the manufactures of that country; a great part of which consisting of nothing other than mere gew-gaws and trifles. And these accounts, says he, are attended with but a just return—a sneer at our folly; which we can but expect from them as well as from all Europe: and which perhaps when too late, our extreme poverty will convince us we deserve.
The scarcity of cash, says a correspondent, experienced in this and the other States, may in some measure be accounted for by attending to the British publications: in which are mentioned not only large and frequent remittances from our merchants, but of the vast quantities of money continually flowing into that kingdom from our trade with the Spaniards, all the cash we can possibly obtain in this way, being immediately carried to, and left in England, in lieu of the manufactures of that country; a great part of which consisting of nothing other than mere gew-gaws and trifles. And these accounts, says he, are attended with but a just return—a sneer at our folly; which we can but expect from them as well as from all Europe: and which perhaps when too late, our extreme poverty will convince us we deserve.
What sub-type of article is it?
Economic
What keywords are associated?
Cash Scarcity
British Trade
Spanish Trade
American Poverty
European Sneer
Where did it happen?
Boston
Domestic News Details
Primary Location
Boston
Event Date
March 18
Outcome
scarcity of cash leading to extreme poverty
Event Details
Correspondent attributes cash shortage in states to remittances from merchants and money from Spanish trade sent to England for trivial manufactures, eliciting sneers at American folly from Britain and Europe.