[Autobiography of Seventy Years, Vol. 1-2 by George Hoar]@TWC D-Link bookAutobiography of Seventy Years, Vol. 1-2 CHAPTER II 10/28
He lived to join in the report from the committee, and to sign the Declaration of Independence, which put the case on his ground.
The Declaration of Independence does not recognize Parliament at all, except indirectly, when it says the King "has combined with others" to do the wrongs which are complained of. _Third:_ In 1752 the whole country was overrun with paper money.
Mr.Sherman published in that year a little pamphlet, entitled, "A Caveat Against Injustice, or An Inquiry Into the Evil Consequences of a Fluctuating Medium of Exchange." He stated with great clearness and force the arguments which, unhappily, we have been compelled to repeat more than once in later generations.
He denounced paper money as "a cheat, vexation, and snare, a medium whereby we are continually cheating and wronging one another in our dealings and commerce." He adds, "So long as we import so much more foreign goods than are necessary, and keep so many merchants and traders employed to procure and deal them out to us: a great part of which we might as well make among ourselves; and another great part of which we had much better be without, especially the spiritous liquors, of which vast quantities are consumed in the colony every year, unnecessarily, to the great destruction of estates, morals, healths and even the lives of many of the inhabitants,-- I say, so long as these things are so, we shall spend a great part of our labor and substance for that which will not profit us.
Whereas, if these things were reformed, the provisions and other commodities which we might have to export yearly, and which other governments are dependent upon us for, would procure us gold and silver abundantly sufficient for a medium of trade.
<<Back Index Next>> D-Link book Top TWC mobile books
|