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Domestic News September 7, 1786

Fowle's New Hampshire Gazette And General Advertiser

Portsmouth, Rockingham County, New Hampshire

What is this article about?

On August 3, 1786, planters in Charleston, South Carolina, met at the State House and unanimously resolved to support the state's paper money by accepting it equal to gold and silver, refusing discounts for specie payments. Prominent signers included William Moultrie, John Rutledge, and Thomas Heyward Jr. as chairman.

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The following, taken from the Massachusetts Centinel, of the 20th ult. will serve to show in what esteem Paper Money is held at South Carolina, as the names of the most distinguished patriots appear in the catalogue of its advocates and supporters. The remembrance of the celebrated Moultrie, and the sagacious Rutledge must still live in the breast of every American.

At a meeting of a number of gentlemen concerned in the planting interest, at the State House in Charleston, on the 3d day of August, 1786.

RESOLVED unanimously, As the opinion of this meeting, that it is indispensably necessary the credit of the Paper Medium, issued under the authority of the legislature, should be supported as equal in value to the specie; and we the subscribers do therefore engage and bind ourselves to each other, in the most solemn manner on our honors, and declare, that we will receive the same equal to gold and silver, making no distinction in receiving payment for debts due to us, or for any articles hereafter to be sold by us, and that we will not directly nor indirectly purchase or suffer to be purchased for us, of any person any articles whatever, in which an abatement is offered to be made for the payment of the same in gold or silver. THOMAS HEYWARD, jr. Chairman.
William Moultrie, John Rutledge, Thomas Hutchinson, John Mathews, Alexander Frazer, John Huger, Ralph Izard, Hugh Rutledge, Jacob Read, Thomas Bee, William Skirving, George Haig. Thomas Osborn, James Lynah. John Deas. jun. Edward Lynah, Isaac Huger, William Day. Isaac Dubose, Lewis Fogartie, Alexander Chisholm, John Geyer, Solomon Legare, James Postell, Robert Ladson, James Legare, William Hayne, Charles Ferguson, jun. Blake Ley White John M'Laughlin Thomas Legate Edward Haleton, Peter Belin, William Drayton, John Bowman, Jehu Wilson, and 41 other respectable planters.

What sub-type of article is it?

Economic Politics

What keywords are associated?

Paper Money South Carolina Planters Resolution Charleston Meeting Economic Support Moultrie Rutledge

What entities or persons were involved?

Thomas Heyward, Jr. William Moultrie John Rutledge Thomas Hutchinson John Mathews Alexander Frazer John Huger Ralph Izard Hugh Rutledge Jacob Read Thomas Bee William Skirving George Haig Thomas Osborn James Lynah John Deas. Jun. Edward Lynah Isaac Huger William Day Isaac Dubose Lewis Fogartie Alexander Chisholm John Geyer Solomon Legare James Postell Robert Ladson James Legare William Hayne Charles Ferguson, Jun. Blake Ley White John M'laughlin Thomas Legate Edward Haleton Peter Belin William Drayton John Bowman Jehu Wilson

Where did it happen?

Charleston, South Carolina

Domestic News Details

Primary Location

Charleston, South Carolina

Event Date

1786 08 03

Key Persons

Thomas Heyward, Jr. William Moultrie John Rutledge Thomas Hutchinson John Mathews Alexander Frazer John Huger Ralph Izard Hugh Rutledge Jacob Read Thomas Bee William Skirving George Haig Thomas Osborn James Lynah John Deas. Jun. Edward Lynah Isaac Huger William Day Isaac Dubose Lewis Fogartie Alexander Chisholm John Geyer Solomon Legare James Postell Robert Ladson James Legare William Hayne Charles Ferguson, Jun. Blake Ley White John M'laughlin Thomas Legate Edward Haleton Peter Belin William Drayton John Bowman Jehu Wilson

Outcome

unanimous resolution by planters to accept and support state-issued paper money equal to specie, refusing any discounts for gold or silver payments; signed by over 40 individuals including prominent patriots.

Event Details

A meeting of gentlemen involved in the planting interest at the State House in Charleston on August 3, 1786, resolved that the credit of the legislature-issued paper medium must be supported equal to specie. Subscribers pledged on their honor to receive it equally to gold and silver for debts and sales, and not to purchase items with abatements for specie payment. Thomas Heyward, jr. served as chairman, with signers including William Moultrie, John Rutledge, and many others.

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