Mr.Hutchinson says: "Seventy years' practice under a new Charter, in many respects to be preferred to the old, has taken away not only all expectation, but all desire, of ever returning to the old Charter.

We do not envy the neighbouring Governments which retained and have ever since practised upon their ancient Charters.

Many of the most sensible in those Governments would be glad to be under the same Constitution that the Massachusetts Province happily enjoys."[220] But Massachusetts and other New England colonies had incurred considerable debts in their wars with the Indians, prompted and aided by the French, who sought the destruction of the English colonies.

But most of these debts were incurred by loans to individual inhabitants and by the issue of paper money, which became greatly depreciated and caused much confusion and embarrassment in the local and Transatlantic trade.[221] At the close of the war between England and France by the peace and treaty of Aix-la-Chapelle, 1749, Mr.Hutchinson thus describes the state of Massachusetts: "The people of Massachusetts Bay were never in a more easy and happy situation than at the conclusion of the war with France (1749).

By the generous reimbursement of the whole charge (L183,000) incurred by the expedition against Cape Breton, the province was set free from a heavy debt in which it must otherwise have remained involved, and was enabled to exchange a depreciating paper medium, which had long been the sole instrument of trade, for a stable medium of silver and gold; the advantages whereof to all branches of their commerce was evident, and excited the envy of other colonies; in each of which paper was the principal currency."[222] FOOTNOTES: [Footnote 203: Palfrey's History of New England, Vol.III., B.iii., Chap.