Paris papers; or Mr. Silas Deane's late intercepted letters, to his brothers, and other intimate friends, in America. To which are annexed for comparison, the Congressional declaration of indepedendency in July 1776, and that now inculating [sic] among the revolted provinces, with the never-to-be-forgotten orders of the rebel general in August 1776, for preventing a pacification.

The following is one of the Papers in∣tercepted with Mr. Silas Dean's let∣ters; and from the matter and style, seems to be a composition of his, tho' none of his letters expressly refers to it as an inclosure. It was probably put under a cover to some one or other of his particular friends, which is missing.

The AMERICAN ACCOUNT CURRENT, with its Vouchers.

THE war between America and Great-Britain, was enter•• 〈◊〉〈◊〉 on account of certain acts of Parliament, injurous to the rights and privileges of the former; unhappily to 〈…〉〈…〉 count••••es, the 〈◊〉〈◊〉 misre••resentations of de••ning man on hot: 〈◊〉〈◊〉 prevail••d so far as to have the most unfavourable con∣struction put, by each p••ty, on every word or 〈…〉〈…〉 of the other, and 〈…〉〈…〉 the 〈…〉〈…〉 the 〈◊〉〈◊〉 extre••ity, an appeal to the sword.—America•• 〈…〉〈…〉 (single and u••supp••ted) to contend with Great-Britain, applied to France the ••reditary 〈…〉〈…〉 the latter, for assistance 〈…〉〈…〉 was formed, and the refusal of Great-Britain to rece••e from its claimt, or to rep••al the 〈◊〉〈◊〉 complained of, 〈…〉〈…〉

the measure taken by America, in the opinion of great part of Europe.

Great-Britain from conviction, that the acts c••m∣plained of were wrong, has receded from the claims which occasioned the first une••••iness, and now invites America to return, and be reconciled.

America says, that it is too late, that she has put herself under other pretection, and made choice of a new friend, which she will not on any consideration desert.

In this situation, and after six years contest, it is not unseasonable to enquire, what have been the gains or losses of America, to this time, and to state facts, from which a judgement may be formed, with moral certainty, what her future loss or gain will be.—I propose, in the first place, to state the acco•• of the loss and gain of America, in the present war to this time, and to cite facts to justify the charge••, or credits entered on each fide;—and in the second place, to state all the facts, necessary to enable us, to judge with moral certainty of the final issue of the adventure, and to calculate if the balance be now found in favour of America, whether it is equal to the risque: she has already run, and the probability of increasing or lesing such balance by continuing of the adventure:—On the other hand, if it fall a∣gainst her, what probable chance or prospect she has of retrieving her loss, or of increasing it by going on, being simply a merchant, I know of no other method equally plain and certain, to come at the true state of America, at this time, or for calculating, with any degree of certainty, as to the future; as my coua∣trymen, even the most illi••erate understands some∣thing of accounts, and my great and sole object be∣ing to state in the most simple and plain manner pos∣sible,

the real situation of America. I shall make use of such mercantile terms only, as are universa••y understood, by which if the account shall have one article wrongly charged in it, or if any thing be given for a fact, which is not such, I shall be open to im•• conviction.

〈◊〉〈◊〉 to ••ting of the account it is necessary to examine what the state of America was at, and for some time before the commencement of the war, by which it will be seen at once on comparing it, with the present, on which side the balance lies.

In 1775, the number of inhabitants amounted to about three millions, settled on a sea coast of near 1500 miles in extent, with an immense continent be∣hind them, fettile and uninhabited, except by a few wandering savages; and being all employed (a very few 〈…〉〈…〉 in the innocent and healthful business of cultivating the earth, this, stock of inhabitants, independent of importations increased at the rate of doubling or cent per cent. every twenty years; their 〈…〉〈…〉 exportations, which consisted in all kinds of provisions, in lumber, tobacco, indigo, and other produce of the country, amounted to nearly three millions and an half ste••ing.

The demand for this produce, encouraged and paid for the clearing up, and improving the lands, and gave such a spring of agriculture and navigation, that those most useful arts were carried to great per∣section, and were rapidly improving.

This annual exportation, of three millions and an half, was not a clear profit in favour of America, for the greatest part of it, and at times the whole, was returned in foreign commodities, part of which might have been dispensed with, but at the same time it must be acknowledged, that if•• the tasie for

foreign superfluities and luxuries, excited the Americans to clear up, improve and cultivate their country, as the only means by which they could obtain them; this produced a substantial and pe••manent addition to the stock, or capital wealth of the country—And if it be granted, that the real wealth of any country, is to be estimated from the number of inhabitants living comfortably within it, and the quantity of its produce of the most necessary articles, 〈◊〉〈◊〉 clear that America, tho' it had not the practed, had the most it creasing capital of any coun∣try in the world—It has already been observed that the increase of population in America, was at the rate of cent per cent every twenty years; and if their exports are examined, they will be found to have increased in still greater proportion from 1675 to 1775. This observation be carried further, and it would be easy to shew, that every useful art and science had, during the same period, kept pace with the popula∣tion and cultivation of the country in America— But it is sufficient for the present adjustment of our general account, to shew that the capital, or stock of America, in 1775, without mentioning less•• a ticles, consisted in a fertile country of immense extent; three millions of free industrious inhabitants, living in independent ease on their forms and plantations, which supplied them with all the first necessaries of life, and a surplus of near three millions and an half sterling, for commerce with other countries—That this commerce employed upwards of 1500 ships and ve••l••ls of different sizes, and a proportionable num∣ber of seamen—That much the greater part of these ships were built and owned in the country—That the American commerce and fisheries, were fruitful nur∣series for good seamen, which useful order of men

were increasing, in a greater proportion, than even the inhabitants at large; these are some of the capital articles of our real stock in 1775, and every thing considered, they were such as no other country could boast of. But it may be said with justice, that neither the number of inhabitants, extent and fer∣tility of the terr••tory, or the productions and com∣merce of a country, can be counted on as forming a solid and permanent stock, unless the civil and poli∣tical constitution under which the inhabitants live, be such, as will secure to them the property and free use of those advantages which the nature and situation of their country gives them—The rapid increase of population and property in America, for more than a century past, is a convincing proof that the civil constitution was such as secured the liberty and pro∣perty of its inhabitants.

But the claims of the British Parliament to the right of making laws binding on America in all cases whatever, and to tax its inhabitants at pleasure, with other acts, of theirs since 1763, subjected both the liberties and property of America to the will of Par∣liament—America was alarmed at such dangerous claims, and apprehensive of the consequences, re∣monstrated and protested against those acts and claims, and resolved to oppose them to the ut∣most. It was, as Congress in the most express and solemn manner declared, not for the "gaining any new rights," but to secure those which by charters, compacts and the British constitution, they, as Bri∣tish subjects, were intitled to; that America conten∣ded—In the course of the two first years of the war, matters were carried so far, that Congress judging that the Parliament was determined in no case to recede, but to pursue and enforce those claims

and acts to the utmost, resolved to separate America from the British Empire, and declared it independent and sovereign—The people of America confirmed this resolution of Congress, to maintain their rights and priviledges, not as being part of the British Em∣pire but separate and independent—It is near five years since this resolution was taken.

I have briefly shewn what the stock or capital of America, was previous, and by what means it be∣came in danger, In the next place I will endeavour to state with impartiality, what our losses and gains have hitherto been; but it must previously be obser∣ved, that those claims and acts of Parliament, which brought both our liberty and property into danger, and which gave the only original cause for the dispute, having since been given up and repealed, independent sovereignty remains the only object for which Ame∣rica is now adventuring, for since every personal right and priviledge may be secured and enjoyed, though America continues part of the British empire, there can be no other, America then, has credit for stock in hand in 1775. The thirteen pro∣vinces or states, of New-Hampshire, Massachusetts-Bay, &c.

For three millions of inhabitants, the annual in∣crease of which stock was 150,000 people.

For three millions and an half of annual produce, over what was consumed by the inhabitants, which encreasing annually in the same ratio, with the en∣crease of population added to the capital 175,000l. sterling yearly.

For the navigation, fisheries and commerce, which America then had on hand, amounting to an im∣mense value, and increasing at the above rate.

For the peace, good order and moral principles of its inhabitants as inestimable, as they were unpa∣rallel'd in almost any other country.

These articles put to the credit of the account, let us examine the debit, or what deduction is to be made on the score of expences, and disbursements, at and before that period. The support of civil govern∣ment, supposing it to have cost each province 8000l. sterling annually (which is estimating it high) amounted to 104,000l. sterling,

The duties paid by the commerce, taken at its highest gross produce, to be between 30 and 40,000l. annually.

In this account the balance appears at once to be immensely in favour of America, and justiries the Americans in opposing with the utmost firmness and perseverance, every claim or act of parliament, which tended to diminish, or deprive them of it. But those claims being now out of the question, and America offered the peaceable enjoyment of this capital with all its encreasing advantages, secured and guaranteed under the British empire, it is evident that in pro∣ceeding to state the account of our expences and losses, previous to this, stand as so many charges, incurred in defending and securing our original ca∣pital stock, that effected, every thing further must be charged against independent sovereignty.

This account is most unquestionably the most im∣portant that America, or perhaps any other country, ever had to consider and to state fairly, without pre∣judice or partiality, and I trust my honest and brave countrymen, will view it in this right, that they will estimate without exaggerating, or diminishing, what their losses and expences have actually been, since the present object of independent sovereignty, has been

the only one in question, what the situation of our country has been ever since it has been claimed and exercised, what our circumstances now are, what they were previous to this contest or to 1763, and from comparing the present, with the past, form a true judgment on the whole to direct their future con∣duct. In the beginning of 1778 an offer was made to America to be placed in the situation it was in, at, and previous to the year 1763, to have all the griev∣ances complained of by Congress in 1774 and 1775 redressed, to have the acts which they remonstrated against, and which were then declared to be the ••ole cause of the war, revealed, and several advantages granted to America, which the inhabitants had n••, previous to 1763, either claimed or enjoyed, had these offers been accepted of, the account would then have been closed (as I have already shewn) in our fa∣vour. But independent sovereignty was by Congress made an essential prelimenary, a sine qua non, of any negociation at all. In July 1776, the above terms had not been offered to us, and a persuasion that England would not recede so far, as to offer them was the prin∣cipal ground on which that resolution was taken. All the declarations of Congress and of the different American assemblies prove the truth of this fact; the declaration of independence itself acknowledges it, and the arguments made use of in support of the measure were all drawn from that presumption only, Foreign aid was sollicited, this could neither he asked or granted consistently with the laws of nations, and the saith of treaties, whilst we a knowledged our∣selves to be the subjects of Great-Britain, therefore being resolved to deserd our rights, the foreign aid sollicited, became indispensably necessary, and the establishment of civil government in the several pro∣vinces

equally so, to prevent general anarchy and con∣fusion. On this ground, and on this only, Congress were forced into a measure, which they had before reprobated in all their public declarations.— In their petition and address to the King, and people of England, in 1774, and 1775, they solemnly cal∣led God to witness, that they had no view of a sepa∣ration, and that they regarded such an event as the greatest of evils, which could befall both countries. I dare appeal to the warmest supporter of the Decla∣ration of July, 1776, to say, if the same offers had been made on the part of England, as were made in 1778, any such resolution would have passed in C••∣gress, or in any one of the American assemblies. Our Declaration of Independence could ••••t give a new cause of complaint, or our part, against Eng∣land, though by our challenging a new right unheard of by our ancestors, and expressly disclaimed by all the pre••ing resolutions of Congress, we enlarged the subject of contest. But In epe••dence being consi∣dered, as the only ground on which our rights and liberties could be established and secured, under the circumstances America then was, the measure on this principle was consistent and right but otherways wrong, and contradictory to our repeated and most solemn declarations.—From the moment, therefore, in which we were offered a redress of the grievances we had complained of, and to have the rights re∣claimed, to be confirmed, and that in the very way in which our petitions to the Crown of England had pointed out, no other subject of dispute could remain, but the new claim of independent sovereignty, and to this only all our subsequent losses and expences are to be charged.—And as we were in 1778 of∣fered assistance, to reimburse the expences of the

war, our pervious expences, by the refusal of that offer, may with justice be charged to the same ac∣count.

I have stile the claim of Independence a new and unheard of claim; the following expressions of Con∣gress will justify me;—In the unanimous petition of that body to the King, in 1774, they say,

We ask but for peace, liberty, and safety, we wished not for a diminution of the prerogative, nor do we solli∣cit for the grant of any new right in our favour, your royal authority over us, and our connection with Great-Britain we shall always carefully and jealously support and maintain.

Again, they say, addressing the King,

That your Majesty as the loving Father of your while People, connected by the same b••ndo•• law loyalty, faith and Slood, though dwel∣ling in different countries &c.

In the address of Congress in July 1775, to the Inhabitants of Great-Britain, they say, and

declare before God, and the world, that they have not raised armies with am∣bitious designs of separating from Great Britain, and establishing independent States, and that they, sight not for glory or conquest.

In their Petition to the King of the same da••e, they say: Attached to

your Majesty's person, family and government, with all devotion that principle or affection can in∣spire, connected with Great Britain by the strongest tees that can unite societies. &c.

These, and and similar declarations of Congress, shew that the claim of a right to Independence, was not only un∣heard of in July, 1775, but that every pretension to it was disclaimed and reprobated by Congress, in terms of the warmest indignation.

I will not presume to enimate the value of inde∣pendent sovereignty to America, if our right and li∣berties,

our peace and safety, cannot be secured in any other way, it exceeds all calculation, but i•• these can be as well secured by accepting the offers made us, its value becomes ••t bed but idea, and imaginary, and if in pursuing this object we exhaust and ruin our country, lay the grounds for civil seuds among ourselves, and become ••ality mere dependent on France, than we ever were on England; 〈◊〉〈◊〉 such cas••, every expected good will fail, and we shall realize evils, greater than we can at this time conceive of.

I am very far from condemning the resolution of the 4••h July, 1776▪ But though under certain cir∣cumstances, a measure may be wise and good, yet under others, it may be the height of folly and mad∣ness, to persevere in supporting of it.

A review of what we have expended and lost, and a ca•• did examination of facts and probabilities, will enable us to form our judg••ment.

I have already sh••wn that our capital stock a•• and previous to 1775, consisted in 3 000 000 of in∣habitants the neat yearly profit or increase of which was 150 000. In an annual exportation of three million a••d an half 〈◊〉〈◊〉 of p••o••iuce which w••s increasing in the same proportion. In an ex••sive and growing ravigation, co••merce, and fishery; in thirteen Colonies or States, ex••••n••ing near 15 0 miles on the sea c••act, with an immense and fe•• country behind them, r••ady to find employ, and to afford an honest and pl••tiful subsistence to their in∣creasing numbers, and above all, in the peaceful in∣dustrious, and moral principles and dispositions of the people at large.

It is allowed by all, that the principle sou••ce of the wealth of every country, consists in the number ••f its inhabitants living at their ease, or above want, by

honest industry; if then America made previous to the war, an actual acquisition of 150,000 inhabitants of this description, six years would have added 900,000 to their stock, and so far as their increase has fell short of that, in consequence of the war, so far a loss has been suffered which is justly chargeable to the war, or rather to the object of it.—If in fact the number of inhabitants has not increated at all since 1775, the loss is immense; I will not pretend to say they have not increased at all, but appearances strongly countenance such an opinion, and demon∣strate that the increase, if any, has been incon∣siderable.

The number of houses, in a country where the materials for building are found in plenty, and cost little more than the charge of collecting them to∣gether, will ever be in proportion to the number of inhabitants; but there are not at this time more houses in America, than there were in 1775, whereas by the above calculation, they would, had we been at peace, have increased near one third. In the Autumn 1774, upwards of five hundred houses were contracted for to be built in Philadelphia the next year. Other Towns were in proportion to that City. The in∣crease of houses in country Towns and Villages was such, that the articles of nails, window glass, and other necessary materials for building, formed a very capital part of our imports; I will not pursue the subject, these observations being sufficient to justify the presumption, that the number of inhabitants has not increased to any considerable amount since the war. It is indeed impossible to ascertain this with certainty, as no exact numbering was ever made; the aggregate of three millions was a presumed one, from the general estimate made by the Delegates from

different parts of the continent. But the number of houses not having increased, ••or house rent advanced, convinces me that there has been but little, or no in∣crease since the war. The annual importation of in∣habitants, amounted to near 20,000 one year with another; the stopping of this source of population, our loss of men by the war, the continual emigra∣tions from us to Europe and the West-Indies, and the before unexperienced obstacles and difficulties, in the way of establishing and supporting families, ap∣pear to me sufficient to have prevented any increase of our numbers. To this immense loss of inhabi∣tants, we may justly add those, who by a military life, or otherwise, in consequence of the war have acquired such dissipated habits, that they cannot be expected to return to their old industrious and lab••∣rious employments.

This great and capital loss, has been attended with another naturally and necessarily connected with it, and with the loss of commerce, viz. the de∣cline of agriculture, and reduction of our exports. It is to no purpose to urge our former exports were repaid by imports of articles not essentially necessary, and in part by those of mere luxuries, since admitting that part of our importations were mere luxuries, and but few of them articles of the first necessity, yet if the taste of the inhabitants for them, induced them to clear up and cultivate the country, it produced a real and permanent addition to the capital stock of American wealth, since every acre of wild land cleared up, added just so much to the natural stock as it would sell for in its improved state. I will not presume to say, that all our importations were wisely made, or that many of the articles were such as we had better have been without, for admitting of this,

nothing can be urged from it against the above ge∣nera••p inc••le.

The ploügh and the s••il mutually aid and en∣courage each other, and it is the policy of every wise na••ion, to keep both for ever in view, and to im∣prove and cultivate each, as the most natural and certain support of the other.

Before commerce flourished in England, agricul∣ture was in as low a state in that Island as in any kingdom of Europe, and their commerce and agri∣culture have in every flage, advanced together and kept pace with each other, until both have arrived at the highest perfection ever known or heard of in the world—But there is no necessity for locking abroad for insta••ces; agriculture and commerce have rose and flourished and they have declined and languished together under our eyes in America.

In 1772 Philadelphia exported 3,43,384 barrels of flour, and 7,06,185 bushe's of wheat, and 361 square rigged vessels, and 391 floops and schooners were cleared out from that port.

In 1773, there were 265,967 barrels of flour, and 1,82 391 bushels of wheat, and 48 183 barrels or tierces of bread exported, and 426 square rigged ves∣sels, and 370 sloops and schoon•• were cleared,

The amount of the whole of the exports of every kind, from that city, was as follows:

In 1772,	£. 6,31 534	14	10	1-2 sterling,
1773,	7,84 254	4	2		ditto.
1774,	7,20,135	13	7	3 4	ditto.

If it be considered that the exports from New-York were nearly equal to those of Philadelphia, and that Virginia and Maryland exported in to bacco alone, to nearly as great an amount as the whole exportation from Philadelphia, it must be allowed that the whole

exports of America are not rated too high at £. 3▪500,000 sterling, annually. If from 1775 to this time, our exports have not exceeded £. 500,000 per a••num, (and they have fell much below that sum) there must have been an annual loss of three millions, and in six years of eighteen millions in our commerce.

But how has it been with our agriculture, and has it not failed in some degree in the same proportion?

The ports of America were shut, and commerce almost en••irely suspended in 17••5; I have shewn that antee••dent to that period, Philadelphia alone exported in flour, wheat and bread, equal to 400,000 barrels of flour; if the exportation of the same from New-York, Maryland and Virginia, are taken into the calculation, it will not be ex••avagant to suppose that America exported at that period, one million barrels of flour annually: But what was the situation of America, as to this article, in 1778, 1779 and 1780? Every one who knows that the victualling Commissary could not in Pennsylvania and all the Northern States, procure bread in those years for General Washington's army, which scarce ever amounted to ten thousand men, but was obliged to send to Virginia, and even to North Carolina, for flour, can resolve the question and must acknowledge that our agriculture sell 〈◊〉〈◊〉 our commerce.

The history of our nation affords a stronger proof of the mutual dependance of agriculture and com∣merce on each other. The losses of population, agri∣culture and commerce have not been the only ones; the actual expences of the war, have been consider∣able though they are indeed trifles, if compared with the others, yet in settling the account they merit at∣tention.

In May 1775, Congress began to emit paper, on the credit and faith of America, this paper obtained a credit at first, equal to silver or gold, and so long as this paper retained this credit, Congress received of individuals for public use, its full nominal value, in their produce, merchandize, or service.

By the quantity of paper sent out by Congress to market, and by having no fund established, for i••s redemption, it depreciated. But the question is not at this time, at what rate Congress have offered to redeem their paper, but what real value they have received for it in exchange. A bankrupt who pays two and an half per cent, or 6d. in the pound, to his creditors, never argues from that, that he has re∣ceived no more, what real value has Congress re∣ceived in exchange for two hundred millions of dol∣lars of their paper, and the large loans they have had? Congress by their resolutions of the 18 h of March 1780, offered to call in all their paper bills at the rate of 40 for one, but they forced no one to accept of their offer. Whether the holders of their paper will finally receive no more, is out of the question. By their resolutions of the 28 h of Ju••e following Congress gave a certain rule, by which the above question may be determined, for it is not to be pre∣sumed, that in the table which they than published, they rated depreciation either higher or lower than the reality, and having received the same value, for a bill emitted, as for the bill at the same time bor∣row••d depreciated in their hands, the rule for fixing the value of their several loans, must apply with equal justice to their emissions, they do not allow of any depreciation until Sept. 1, 1777, previous to which they had passed in exchange for the produce of the country, the payment of the army, &c. 36 610,000

Dollars, or 8,237,000l. st••ling, and consequently must have receiv••d i••s value, the am unt of loans to that time was 7,545,196 dollars, which b••ing also with u••deprecia••ion make an addition of £. 1,697,699 2••. od ••ter••ing,

From Sept 1777 to Sept. 26, 1778, Congressissued and ••assed 45,50,000 Dollars, i•• paper, the value of which from the table of rates fix••d on by Congress is as follows, viz.

	Dollars.
1,000,000 Nov. 7, 1777,	value 8••2 880
1,000,000 Dec. 3,	750 000
1,000,000 Jan. 8, 1778	671,000
2,000,000 22,	1,285 320
2,000,000 Feb. 16,	1,180,524
2,000,000 Mar. 5,	1,122,444
1,000,000 April 4,	490,444
5,000,000 11,	2,376,110
500,000 18,	230,277
5,000,000 May 22,	1,976,110
5,000,000 June 20,	1 375,0••0
5,000,000 July 3••,	1,244,440
5,000,000 Sept. 5,	1,224.444
10,000,000, 26,	2 222 222
45,500,000 equal to	16,941,215

real value, or £. 3,811,773:7:6 Sterling.

From September 26, 1778, to September 1779, Congress struck off, 〈◊〉〈◊〉 passed 55,000,54,

dollars of the following dates and value, viz.

Nov. 4, 1778,	10,000,000	value 1,807,777
Dec. 14,	10,000,000	1,476,666
Feb. 3, 1779,	5,000,160	570,182
19,	5,000 160	525,017
April 1,	5 000,160	452,766
May 5,	10,000,000	812,000
June 3,	10,000,0000	740,000

55,000,540 equal to 6,384,408 or £. 1,436,491 16 S••e••ling.

But Congress declare 13th September 1770, that they had issued, and had then in circulation to the amount of 159,948,880 Dol.

The sums above calculated amounted to but 137,110,480 do.

Which leaves a difference of 22,838,400

But Congress in January 1779, or••ered a large sum of their bills to b•• called in, by ••an, or by ex∣changing for new bills, and some time after ••ck off 50 0 0 395 dollars, to redeem by exch••ng•• for the emissions of 20 h M••y 1777, and of April 11, 1778; in ••he lists of C••g••s emissions of paper, certified at Philadelphia, 13th July, 1779 by Ro∣bert Troup, Secr••tary of the Treasur•• Office, and from which the above was takes, I find only ten millions of these emissions set down, there remains therefore forty million 〈◊〉〈◊〉 be added to the debt, viz. twenty millions of May 1777, and twenty millions

of April 1778; the difference between this amount of forty millions, and the above balance of 22 838,400 must run from the amount of those emissions which were paid into the Loan Office, the first sum having been passed before depreciation commenced, was in value equal to £. 4,500,000 sterling, and the latter of April 1778, to 9,504,000 dollars, or £. 2,138,400 sterling.

On the 13th September 1779, Congress declare that the amount of their loans from March 1, 1778, to that time, amount to 26 188,909 dollars, but do not give the dates at which they were made, I will therefore take the whole at a medium of six months back of that date, (as at that time large sums were lent on account of the emissions called in) and the value will be, dollars or £. sterling. Congress compute their foreign debt at four million of dollars, or £. 900 000 sterling; the above ••um, though f••r below the amount of the public expences of Congress at that time, are sufficient to shew that they then amounted to upwards of twenty millions sterliog, independent of the private expences of each State for its own particular dif••nce.

Congress on th•• 13th September 1779, resolved to c••vtinue their emi••ions to 2••0 millions and no farther, in consequence of which they soon after gave cut the balance.

I have not presumed to hope that I could af••ertain the amount of the public expences with precision; Congress confess that this is even beyond their power; but it is sufficient to shew from unquestionable facts, that in September 1779, it greatly exceeded twenty millions sterling. It is still more difficult to state ••he amount of the expence of private State••; b••t as in the above stating, I have kept below the real amount,

so I presume if the private expences of all the parti∣cular S••a••s, be ••stimated 〈◊〉〈◊〉 one fourth of that 〈◊〉〈◊〉 the public, it will not exceed the rea••ity; and if the large sum•• drawn for l••st yea and now dra••ing f••, on Europe, and the increased and i••creasing ex∣pence of every kind 〈◊〉〈◊〉 consid••e••, the actu•• am••unt of the charge of the war, 〈◊〉〈◊〉 1781 ca••not be estimated at less tha•• forty million 〈◊〉〈◊〉. Nor can it be presumed, 〈…〉〈…〉 an∣tages it has necessa••ily 〈…〉〈…〉, could have cost less in six years; but it is 〈…〉〈…〉, at Congress having fixed the 〈…〉〈…〉 their bill•• at forty for o••, 〈…〉〈…〉 the have given out and passed two hundred millions, ye•• the•• o••e but five; 〈◊〉〈◊〉 that account, and for their loans according to the rates they hav•• fixed them ••t, and calcu••a••ing in this manner, some ••ssert, that the war has not cost us more tha•• 7 〈◊〉〈◊〉 8 millions herling, but such persons go on principles 〈…〉〈…〉 fa••••e and ab••.— If Congress had reduce•• their paper and Loan Office certificates to the one hundredth part of their n••m••al value, it would have argued nothing against their having actually received, and the people at large hav∣ing paid, the full value of what the several emissions and loans, were worth, at the time of their being made, and Congress have received just as much for every paper dollar, from this press, as for the one at the same time borrowed, nothing either in justice, or equity, can be urged against the same rule of calcu∣lation for both.—But Congress have not reduced their circulating paper, to 40 for one, they have offered by their resolution of March, 1780, to barrow and re∣ceive it at that, but they force no one to accept their offer; on the contrary every one of their promises and resolutions, to redeem the whole in 18 years, at

the nominal value, remain unrepealed and in full force, and every one is at liberty to hold his money in hand, or to part with it as he shall prefer.—It is true that if it be held back, and the nominal sum exacted, even eighteen years hence, great injustice will be done the public who instea of paying less tha•• the real expence of the war, will in such case pay much more, but neither will o••n affect the as∣sertion, that this part of the actual expence of the war, amounts to the value of the several emissions of the bills, at the time of their being made and of the loa••s wh•••• borrowed, and the general calculation I have made, sufficiently pr••ve that those with the fo∣reign debt, a••d the debts of particular States, amount to the sum, I have stated our six years expences at. If indeed the arrcarag••, of the officers and soldiers of our army, who on this subject have been treated differently from almost any other order of me••, be taken into conside••tson, as I think they most cer∣tainly must, and ought to be, and the expences of inlistment, ••es, of sub••itute money, paid by indi∣viduals, I am well persuaded, t••t 40 millions ster∣ling, will fall much below the actual expences of the war, this year's included.

It has been a fav••urite argument in America, that the paper money depreciating in the ha••ds of the pub••e a large op••ated as a tax on the people, and therefore whatever value, was ••inally received for it, the present debt of America, is ••o more in justice or equity, than the present value of the money.— I shall not at present 〈…〉〈…〉 this sperious 〈…〉〈…〉, I am not stating what we actually owe ••e••qu••ing what we intend sinal•• to pay, bu•• what o••r expences real••y ••ave 〈…〉〈…〉 how they have, or may be cancelied; but I cannot pass it over, without ob∣serving

that the justice of this argument, rests solely on the supposition, that every American from time to time became possessed of his proportion of those bills, as they were emitted or borrowed and passed, and that he continued ••o hold just so much as the amount of his tax for their redemption: Had this been the cause, neither depreciation nor appreciation could have affected him, but just the contrary has happened and his imaginary payment of the public debt, has occasioned a loss, of what is of more consequence than 40 millions sterling. The loss of our national character, of our faith and honor, and the perver∣sion of every idea, or principle of moral and civil justice.

The tender act as it is called, passed in all the States on the urgent recommendation of Congress, obliged creditors, salary men, widows and orphans, to receive the paper, in every stage of its depreciation at its nominal value, for old debts, for salaries, le∣gacies, and dowers, contracted for, or bequeathed in specie.—By this law, this pretended payment sell on creditors, salary men, and most heavily on wi∣dows and orphans, the latter of which, though in every country, they claim the first protection of the Magistrate, and of every man who pretends to the lesst portion of honesty or humanity, have been op∣pressed and sacrificed, beyond any thing ever heard, or read of, among civilized nations.—I will men∣tion two or three instances out of the many which have come to my knowledge; a captain of a mer∣chant ship had by his industry and oeconomy, become master of a comfortable little interest, the greatest part of which he vested in the purchase of a house not far from Philadelphia, in 1775, he sold it for one thousand pounds payable in December 1779, with

interest, at the day of payment his creditor tendered him Congress paper, to the nominal amount of his bond, and offered him that, or eight half Johanneses in full. The debtor had the law on his fide, and the honest creditor, took the eight half Johanneses, in preference to the thousand pounds in paper.

The widow of a reputable merchant, who in 1774, left her at his death, with a jointure of six hundred pounds per a••num, expressly to enable her to keep his infant children under her immediate care, during their education, was in 1779 forced to accept of the nominal sum in paper, not equal in value to twenty pounds of the principal.

In 1779. I knew a judgement given in one of the supreme Cou••••s in America, ordering an heir to re∣ceive of hi•• guard an in lien of 1500l. sterling, which his ance••to•• left him, the nominal sum in paper, which on the day this iniquitous, but legal judgement was rendered, was not equal to 6 per cent. on one years interest of thi•• capital.

Thus regislative assemblies, in compliance with recommendations from Congress, passed laws, which established and protected the most cruel injustice.— Every man of extensive aquaintance in America, must have met with many instances similar to the above in the cou••se of the 4 last years. I have cited only three out of the m••ny thousands on record in America, and in ci••ing them, I have had no view in casting any reproach on Congress, and the assemblies, in passing ••uch laws had no other object in view but the establishment of the rights and siberties of Ameri∣ca. This great object ••d every other from the view of men, zealous in the cause of liberty, but unex∣pe••ienced in, ••nd unequ•• to the great affairs before them, and in thi•• zeal they undesignedly laid the axe

to the root of all morality and justice, and ruined more widows and orphans, than the sword of the greatest conqueror ever made such—This measure forced honest guardians and trust••es to vi••iate their trusts, and to ruin their wards—The guardian who in pursuance of the will of his deceased friend had put out the fortune of orphans at interest, for their bene∣fit, was obliged to receive of the debtors, paper, of less than one twentieth of the value—what could he d•• the law oblig••d him to receive it, and neither justice nor equity required him to became a sufferer, had he been able to have taken the loss on himself. The loss was in most instances too great for him to attempt it. The debtors excused themselves by sa••ing that those with whom they had contracted forced it on them. In a word the mischief became general, and the ••a∣tal effect which dep••eci••tion and the Tender Law, had on the moral principles of the people at large, will be long fe•• in America—and can men boast of having ex••ne••ated the public of debts, justly con∣tracted by ••uch a sa••ifice? by the ruin of the widow and the orphar, of or di••••s and s••••ary men, who had from their confidence in the justice of their country, rested their whole fortune and future support and prespects in 〈◊〉〈◊〉, on the known and established laws of the land.

Those who can boast or avail themselves of such advantages, must hold public as well as private jus∣tice in very low account, and it is to no purpose to attempt to reason with men, who can view the distress of the widow and the fatherless, and the ruin of ho∣nest men, and the destruction of the principles of common justice, with indifference.

Instances of injustice and distress, flowing from this source, have unhappily been so frequent, that

too many have became hardened and insensible to them, and ••o their f••tal consequences. The body of the people, surprized, to find injustice sealed by pub∣lic authority, on the tribunal from whence, they had ever look'd for the most just and equitable decre••s, have been told that public necessity required it, and justified the change: thus the plea of public neces∣sity, has been made use of to destroy the eternal and sacred principles of justice and morality,

And with necessity the tyrant's plea excused these cursed deeds.

—Milton.

The loss of the principles of justice, equity and good faith, exceeds all possible calculation, and if any thing can augment it, it is the additional loss of a good and vir••uous education to the rising generation. This having been in great part lost in America for six years past, threatens the perpetuation of the evil to future generations—we have still other losses to place on the debit side of our account, though loss considerable and alarming th••n the last, yet they are very serious ones.

Georgia, South Carolina, North Carolina, and a part of Vi••ginia are ruined, and we ••ke no use of th•• whole sea coast south of Che••e peak Bay.

Our enemies have possessed themselves of the city of New York, of a great part of that state, and of the whole ••f the province of Main, which forms a part of the state of Massachusetts Bay, and our ally h••s permission to take 〈…〉〈…〉 of the harbour and island of Newport under pretence of assisting us but in reality as a pledge for our fidelity to our alliance, and for the payment of the sums lent to us.

If all terms of accommodation and peace with Great Britain are rejected, what have we to put on the opposite or credit side of the account? The ••••u∣rity

of our liberty and property? with grief we must acknowledge, that neither were ever less secure than at present—Our independence? at this time but a 〈…〉〈…〉 states, enjoy a nominal independence, to support which they have rendered themselves more dependant on France, than ever they we••e on Eng∣land To cou••t on independance as a preseat reality, is therefore absurd, we have, 〈◊〉〈◊〉 is true, a treaty with France, in which France declares that we are actu∣ally in possession and enjo••e 〈◊〉〈◊〉 of independence, and that it shall at all hazards be 〈◊〉〈◊〉 to us, but is it not with equal solemnity declared, some milli∣ons of times every day, i•• the same country, that a wafer of an inch diameter, and two lines in thick∣ness, contains the flesh, bones, &c. of a complete human body, and that half a gill of bad wine, con∣tain•• the whole of its blood?

On the Debtor side of the account I have shewn that we had a right to charge as loss,

More than half a million of inhabitants,

The loss of our fisher••es, trade and commerce.

The decline of agriculture, by which our exports have in six yeart suffered eighteen millions sterling.

The actual expence of 40 millions sterling 1781 included.

The loss of Georgia, South Carolina, North Ca∣rol••••••, with all the coast from Cape Henry southward.

The loss of a part of Virginia.

The loss of the city of New-York, and a great part of that state.

The loss of the province of Main, part of Massa∣chusetts State.

The mortgage of Rhode-Island and Newport to France.

And, what exceeds all other losses, we have suf∣fered a depravity of manners and principles to prevail under the the••ter and support of regislative authority, and by the loss of th•• education of the rising genera∣tion, and the ground so ••erpetuating this depravity.

Our articles in credit against this i••mensue am ••••at of debt, or loss, are, in a word, an alliance with France, the hereditary enemy of our once fond and indulgent parent friend.

The p••ssession of a ••minal independence by a part of the ••a••es, and the hopes of regaining b•• the a••d of our ••lly the ter••itory we have lost, and of finally enjoying independent save e••gnty over the whore.

A few ••••questionable sects will enable us to judge what probability there is, that thes•• hopes will be re∣alized. In the mean time, every one must judge, w•• the, if reatized, he ••ain wi•••• balance the loss.

From the 〈◊〉〈◊〉 in which France took part in the war, 〈◊〉〈◊〉 offers of England have been such as to leave ••ing 〈◊〉〈◊〉 independent sovereignty for us to contend for.

France wishes to improve every occasion for the weak••ing and humbling of England, and so far as the 〈…〉〈…〉 of America from its dommion will ef∣fect 〈◊〉〈◊〉, 〈…〉〈…〉 independence is an object with France, bu•• no further; and is America c••n be 〈◊〉〈◊〉 use of, to ruin the made and 〈◊〉〈◊〉 of England, and in d••∣ing this, t•• 〈◊〉〈◊〉 and 〈…〉〈…〉, and 〈◊〉〈◊〉 every 〈1 line〉〈1 line〉 quite 〈…〉〈…〉, the ••bject 〈…〉〈…〉 to France, 〈◊〉〈◊〉 no∣thing is, or 〈…〉〈…〉 in Europe, 〈…〉〈…〉 We••t-Indies and South America, 〈…〉〈…〉 North•• America from the 〈…〉〈…〉

into a large, populons, and mighty empire of confe∣de••ated republica, wholly detached from, and inde∣pendent of any European control.

Spain, whose aid we have in vain solicited for four years, is directly and greatly interested against such an event. A desire of revenge on England for past in∣ju••ies, and the connection between the two Crowns of France and Spain, have been the only motives which engaged Spain in the war. But these motives have not so far blinded the Court of Spain, to their true interest, as to induce them to take any one step tend∣ing to the acknowledgment of our independence.

After two years war with England, S••ain refus••s to receive our Ambassador; we have, at a great ex∣pence of money, and to the sacrifice of our national character, sent Ambassadors to Italy, to Vien••a, to Madrid, to Berlin, and to Holland, and have been affronted by a refusal of audience every where,—and how the new embassy to Ruffia will s••cceed, time will soon discover.

France, af••e two years ineffectual solicitations, was induced from the apprehension, that on the surrender of General Burgoyne's army, England would recom∣modate matters in America, and turn its force on them, suddenly changed their ••ile of conduct towards us, and made a treaty with us.

To any one acquainted with the history of what passed between the Court of France and the Com∣missioners of Congress, from the first application made, until the arrival of the news of the affair of Saratoga, nothing can appear more ridiculous, than the pomp••u•• declarations of disinterested friend∣ship and royal generosity, on the part of France, except it be our eternally echoing them back in•• the

epithet of our great, good, generous, disinterested ally, the great protector of the liberties of mankind, &c.

The prospects then of the establishment of our in∣dependence rest, on the advantages which America and France, have, or may gain over England in the course of the war, and on the promises of France, but is it to be expected that France will continue the war for ever, or to the sacrificing of all i••s foreign possessions to fulfil this promise? A peace must be made, and the account sooner or later settled between the to ••tending parties, suppose it to be entered on at this time.

The baian••e lies heavily against us on every ac∣count, we have lost much, and gained nothing, but is the balance so much in favour of ourally, that a dis∣count may be expected from us? quite the contrary, France is at this time greatly the loser both in point of commerce and territory. In the West I dies. S••. Vincent's and Dominica, balance St. Lucia, and the Islands of Grenada and Tobago, remain in favor of France; but the loss of their fisheries more than balances this, to which is to be added, the whole of their East In••ia possessions and commerce. France cannot, at this time, regain the point started from, and has this year less prospect of ••aining any thing than it has had in an•• one year since the war com∣mented. The neval force of France, as well as that of Spain, has reached its zenith, and cannot rise higher this war, but on the contrary must decline through the want of seamen; on the contrary, the naval force of England is rapidly augmenting, and their naral resources, especially that capital one of seamen, remain unex••austed.

The war being fimply maritime from these facts, the probabilities of future success, are easily calcu∣lated.

I have in the above account set down the harbour and island of Newport, as mortgaged to France, I do not pretend it is so by any f••rm ••ern∣tract, but many circumstances sh••w, that it in reality is so, and for the sole purpose of kee••ing America seady to her alliance with France, and to oblige us to conti••ue the war.—Mons. de Ro••h••mbe•• took possession and fortified it, under the pretence ••hat the fleet and army, under his command, were only the vanguard of a much greater 〈◊〉〈◊〉 it, on its way, a••d to b••d••ily expected, 〈…〉〈…〉 armament ever was sen••at that time, nor intended.

Did Monsieur Ro••h••mberu, when h•• made that d••cla••tion (i•• the name of his mast••r) to the ••ssen••∣bly of Rh••de••s••a••d, speak as he was ordered, or did he knowingly impose on and deceive that body, and 〈◊〉〈◊〉 America?

The common language of France, of those most at 〈◊〉〈◊〉 is,

The•• are two parties i•• America one for an accommodation and peace with England, the other or the support of the alliance 〈◊〉〈◊〉 France and a continuance of the war, it is therefore ne∣cessary, that France sho•• have a force in Ame∣ri•• sufficient to support the latter party.

The Southern S••are will unqe•• 〈…〉〈…〉 un∣der the British power and government, 〈◊〉〈◊〉 the Nord••, the New England State, may b•• hav∣ing a France force, kep•• in the center of them, be held in the inte••ers o•• France

In fact, my countrym••, the French were sent to Rhode Island, n••t so m••ch to be employed against the British, as to 〈◊〉〈◊〉 the possession of that port and Island, and to oblige us to 〈◊〉〈◊〉 the war; and the pardal empo••ary suppliea se••t us from time

to time, are neither calculated nor designed, to fore: the British to abandon America, but to keep us from fi••king entirely, and to encourage us to find employ on••our contiment for a British army, which otherways must reduce their islands in one s••son, or in two cam∣paigns at most.

So many facts point to this as the only object France has in view, th•• nothing but the most gene∣rous and unsuspi••ious confidence on our part, can make us bend to it.

When Chariest own was befieged, France and Spain had in the West-Indies, a supe••ier fleet, which in ten or filt••en days at most, could have relieved it, they were applied to, but made no movement or di••e••sion whatever. The 〈◊〉〈◊〉 of 〈◊〉〈◊〉 dithearten∣ed the wh••e 〈…〉〈…〉 at that time M•• 〈…〉〈…〉, and by his deciaration and 〈◊〉〈◊〉 re-animated the people, but his p••mises 〈…〉〈…〉 spirits of the country again sell, and Ge••era: Washington's army were on the point of disb••nding.—In this situation, France has stepped in, and given or leat ten millions of livres, and guarranted a loan for us in Holland, for ••s much more, if we can borrow money at four p••r••cent. this is set down as twenty millions in hand; we are sure of one half of it only, but if we obtain the whole, it 〈◊〉〈◊〉 at best only en∣courage us on through another loosing campaign, for it can d•• nothing towards driving the British fl••••ts from our ports, or their troops from our continent.

It is said that Monsie••, de Grasse, is to go to our assistance with his fleet, after touching at the West-Indies; but can any one who knows that the British fleet in the Islands, will be there too, build any thing of solid use to America, on such a promised ••∣noeuvre.

I say another loofing campaign, (God grant my prediction may prove a false one•• but when it is known that a confiderable fleet and army are to fail from England, in four or five weeks, for some part of our continent, and that Monsiour de Grasse, cannot be expected these before next September, it will be agreed, that I have grounds for making it. I have now with as much brevity ••s the subject will admit of, slated our situation; I have not knowingly exaggerated in any instance, nor misrepresented any fact; and I submit it to the judgment of the impar∣tial and confiderate patriots in America, what mea∣ures ought to be taken?

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